Kategorie: Crypto News

Daily crypto headlines and news about bitcoin, ether, ripple, solana, altcoins, nft, market, business, analysis, nft, metaverse, minting and mining.
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Wyre limits withdrawals to 90% of customer funds

  • Wyre will allow its customers to withdraw only 90% of their funds.

  • The company said the move is to allow it to navigate the current market conditions.

  • Wyre’s CEO has become the company’s executive chairman.

Wyre sets withdrawal limits for its customers

Cryptocurrency payment platform Wyre announced over the weekend that it had set a new withdrawal limit for its customers. 

While announcing this latest cryptocurrency news on Twitter, the company said the move was to ensure it could navigate the current market conditions.

Wyre said its customers could only withdraw 90% of their funds. The company wrote;

“While customers will continue to be able to withdraw their funds, at this time, we are limiting withdrawals to no more than 90% of the funds currently in each customer account, subject to current daily limits”

Wyre added that the move was in the best interest of its community. It added that it is also exploring strategic options that would enable Wyre to navigate the current market environment and deliver on its mission to simplify and revolutionise the global payments ecosystem.

This latest development comes just a few days after the company laid off 75 employees. Similar to other leading crypto companies, Wyre is navigating the current crypto winter by cutting costs in various aspects.

Wyre makes management changes

In addition to the withdrawal limits placed on its customers, Wyre announced a crucial management change within the company.

Wyre announced that CEO Ioannis Gianna has transitioned into a new role as executive chairman. This is part of the major changes to the company’s management structure. 

Stephen Cheng will serve as the interim Chief Executive Officer after serving as the Chief Risk Officer, and Chief Compliance Officer in recent years.

The crypto winter saw Bitcoin lose more than 60% of its value over the last few months. At the moment, the price of Bitcoin stands at $17,200 per coin.

The post Wyre limits withdrawals to 90% of customer funds appeared first on CoinJournal.

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Charles Hoskinson’s new hospital will accept Cardano for payments: ADA soars by 15%

  • Cardano will be accepted at Charles Hoskinson’s new hospital.

  • ADA is the best performer amongst the top 10 cryptocurrencies by market cap.

  • The cryptocurrency market is off to a flying start this week.

ADA outperforms the other major cryptocurrencies

Cardano founder Charles Hoskinson announced the launch of his new hospital called “Hoskinson Health & Wellness Clinic.” The clinic will accept payments for its services in ADA, the native token of the Cardano ecosystem.

This latest cryptocurrency news saw ADA soar by more than 15% in the last 24 hours, making it the best performer amongst the top 10 cryptocurrencies by market cap today.

At press time, the price of Cardano stands at $0.3263 and could rally higher soon. The broader cryptocurrency market is off to an excellent start this week. The total cryptocurrency market cap stands at $849 billion, up by nearly 3% in the last 24 hours.

Bitcoin, the world’s leading cryptocurrency by market cap, is up by roughly 2% today and is finally trading above the $17k resistance level. 

Key levels to watch

The ADA/USD 4-hour chart is bullish, as Cardano has been performing well over the last few days. The technical indicators show that ADA is currently outperforming the broader market.

ADA/USD Chart By TradingView

 

The MACD line is deep within the positive zone, indicating that the bulls are currently in charge. The 14-day RSI of 84 shows that ADA is currently close to the overbought region.

If the rally continues, ADA could surge past the first major resistance level at $0.3443 before the end of the day. The second major resistance level above $0.370 could be hard to surpass in the near term.

The bears might regain slight control of the market if the bulls run out of steam. If that happens, ADA could drop below the first major support level at $0.2921 over the coming hours.

Where to buy Cardano now

eToro

eToro is a global social investment brokerage company which offers over 75 cryptocurrencies to invest in. It offers crypto trading commission-free and users on the platform have the option to manually invest or socially invest. eToro even has a unique CopyTrader system which allows users to automatically copy the trades of popular investors.

Buy ADA with eToro today

OKX

OKX is a top cryptocurrency exchange which offers over 140 cryptocurrencies to invest in. OKX takes customer security very seriously, they store almost all of their clients‘ funds in cold storage, and the exchange is yet to be hacked. On top of this, the exchange offers very low fees and customers can even use their crypto as collateral for loans on the platform.

Buy ADA with OKX today

The post Charles Hoskinson’s new hospital will accept Cardano for payments: ADA soars by 15% appeared first on CoinJournal.

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Decentraland’s MANA defies gravity to jump 20% but will buyers be relentless?

  • Decentraland’s MANA has surged by over 20% in the week

  • Most gains came when the metaverse platform announced an open-cross competition

  • MANA’s long-term recovery remains tied to the crypto sentiment

Decentraland’s (MANA/USD) rose by 12% over the weekend, taking the weekly gains to over 20%. The surprise gains come after a prolonged bear market that saw the cryptocurrency claim the lowest price in 2022 on December 31.

Investors banking on Decentraland’s MANA would be delighted at the latest cryptocurrency news amid quietness in the metaverse. On January 06, Decentraland said it had launched the first-ever metaverse architecture and design Biennale. It will be an open-cross competition in the metaverse and includes performances, events, public talks, and lectures. The event is expected to accommodate more than 50,000 visitors in over five days. The event is expected to attract opinion leaders, creators, and partners who will share ideas about the metaverse.

The latest development comes as activity building in the metaverse continues to slump in a crypto winter. The low activity has pushed MANA to very low valuations, with the cryptocurrency trading at $0.355 as of press time. That compares to a high of nearly $6 at the height of the metaverse and crypto boom in November 2021.

MANA price outlook and analysis amid recoveries

MANA/USD Chart by TradingView

From the technical outlook, the RSI shifted above the midpoint, suggesting the entry of buyers of MANA. The MACD indicator highlights an improved momentum. The MACD line crossed above the signal line, reinforcing a bullish outlook. However, the indicator is still below the neutral zone, emphasising that the bearish market remains. MANA price also remains underneath the descending trendline despite the recoveries.

What could happen next?

Investors could continue riding on the short-term rally on MANA as momentum has improved. However, the outlook is bearish, and MANA could correct once the price hits the descending trendline. If buying MANA now, be watchful of the level around $0.4, where the price intersects with the descending trendline.

Where to buy MANA

eToro

eToro is a global social investment brokerage company which offers over 75 cryptocurrencies to invest in. It offers crypto trading commission-free and users on the platform have the option to manually invest or socially invest. eToro even has a unique CopyTrader system which allows users to automatically copy the trades of popular investors.

Buy MANA with eToro today

OKX

OKX is a top cryptocurrency exchange which offers over 140 cryptocurrencies to invest in. OKX takes customer security very seriously, they store almost all of their clients‘ funds in cold storage, and the exchange is yet to be hacked. On top of this, the exchange offers very low fees and customers can even use their crypto as collateral for loans on the platform.

Buy MANA with OKX today

The post Decentraland’s MANA defies gravity to jump 20% but will buyers be relentless? appeared first on CoinJournal.

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Buying Bitcoin now? What this could mean

  • Bitcoin endured a bear market for the whole of 2022

  • Macro-economic factors have been responsible

  • The bearish market could continue as analysts predicts recession in 2023

There were high hopes as Bitcoin (BTC/USD) surpassed $68,000 at the tail end of 2021. Investors started to bet on $100,000 as the next price level. Renowned investors, including Ark Invest’s Cathie Woods, gave BTC a price target of $500,000. There is no doubt that such levels can be reached as Bitcoin is still very young, and the potential is huge. But does this mean you should be optimistic in 2023?

Well, it could be too early to judge, but the macro situation demands that we trim the expectations. For a year now, Bitcoin has been bearish, owing to concerns about economic tightening and impending recession concerns. In fact, analysts predict a negative GDP for the US in the first three quarters of 2023. That will mean a more bearish market for Bitcoin and stocks alike.

But what does buying Bitcoin now mean? At less than $17,000, BTC is a bargain price. You would count yourself a smart investor should a bull market return. But you may be out of money for a while before that happens. That’s because Bitcoin’s bear market is still ongoing, and you could grab some negative pips before you turn a profit. However, as you may have noticed, BTC has been relatively stable above $16,000. Is this the potential bottom?

BTC initiates a short-term recovery above $16,000

BTC/USD Chart by TradingView

Considering the longer-term bear market, BTC has found stability at the $16,000 support zone. From the daily chart outlook, the cryptocurrency has initiated a recovery at this level. It trades on a short-term trendline. The RSI shifted above the 50-midpoint level on the entry of buyers. 

Will Bitcoin maintain the recovery?

We consider short-term rises relief rallies since the BTC price has yet to overcome the longer-term slump. Should the current upside continue, BTC could face resistance at $19,000? However, we remain cautious about buying BTC now as the price remains vulnerable to a bear market.

Where to buy BTC

eToro

eToro is a global social investment brokerage company which offers over 75 cryptocurrencies to invest in. It offers crypto trading commission-free and users on the platform have the option to manually invest or socially invest. eToro even has a unique CopyTrader system which allows users to automatically copy the trades of popular investors.

Buy BTC with eToro today

OKX

OKX is a top cryptocurrency exchange which offers over 140 cryptocurrencies to invest in. OKX takes customer security very seriously, they store almost all of their clients‘ funds in cold storage, and the exchange is yet to be hacked. On top of this, the exchange offers very low fees and customers can even use their crypto as collateral for loans on the platform.

Buy BTC with OKX today

The post Buying Bitcoin now? What this could mean appeared first on CoinJournal.

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Shiba Inu’s whale buying intensifies but does price action show it?

  • Shiba Inu is among the most purchased cryptocurrencies by Ethereum whales

  • The price action is still bearish despite a Shibarium update

  • SHIB could maintain the downtrend if new developments do not come up

Meme cryptocurrency Shiba Inu (SHIB/USD) is again on Whale’s radar. According to Whalestats, Shiba Inu is among the most bought cryptocurrencies among Ethereum whales. The whale appetite has grown since the start of the year, and there is a reason. 

A tweet on December 29 by Shiba Inu lead developer Shytoshi Kusama heightened speculations on Shibarium update. Shibarium will be a Layer-2 solution that will expand use cases for the Shiba Inu ecosystem. The update will see new features, including the Shiba Inu metaverse and blockchain games. These are expected to be game changers that will tilt Shiba Inu from its current meme label and make it competitive in Web3. 

According to Kusama’s tweet, Shibarium could be on course to be launched “very soon.” The developer expressed optimism after meeting “the team from Unification UND about Shibarium.” As you already know, delays on the Shibarium update have been a thorn to SHIB. At the same time, frequent updates about Shibarium have failed to bear fruits in recent times. While the latest update is positive, speculators have expressed caution as the SHIB price remains weak. 

Shiba Inu maintains a downtrend amid slight recoveries

SHIB/USD Chart by TradingView

The daily chart outlook shows SHIB is bearish, with SHIB maintaining a downtrend. The cryptocurrency is on a short term recovery, with the RSI shifting above the midpoint. SHIB is retesting a possible short-term resistance at $0.0000085. The price is already facing some rejection at the level, and a correction is imminent.

SHIB concluding thoughts

Shiba Inu is still bearish despite the increased whale accumulation. Potentially, the Shibarium update and whale accumulation are a bull trigger. However, investors would like to see the update happen after delays. As of the moment, investors would be better off watching the developments and buying SHIB on a confirmed bullish reversal.

Where to buy SHIB

eToro

eToro is a global social investment brokerage company which offers over 75 cryptocurrencies to invest in. It offers crypto trading commission-free and users on the platform have the option to manually invest or socially invest. eToro even has a unique CopyTrader system which allows users to automatically copy the trades of popular investors.

Buy SHIB with eToro today

OKX

OKX is a top cryptocurrency exchange which offers over 140 cryptocurrencies to invest in. OKX takes customer security very seriously, they store almost all of their clients‘ funds in cold storage, and the exchange is yet to be hacked. On top of this, the exchange offers very low fees and customers can even use their crypto as collateral for loans on the platform.

Buy SHIB with OKX today

The post Shiba Inu’s whale buying intensifies but does price action show it? appeared first on CoinJournal.