Crypto News Archive - Seite 1412 von 1898 - Finanzmittel Info + Krypto + Geld + Gold

11. Oktober 2022

Bitcoin risks dropping below $19k soon: Can the bulls defend this psychological level?

Bitcoin could drop below the $19k support level over the coming hours as the leading cryptocurrency has been underperforming so far today.

Bitcoin, the world’s leading cryptocurrency by market cap, has been underperforming over the last 24 hours. BTC has lost less than 1% of its value over the past few hours.

The poor performance comes despite the broader cryptocurrency market recording gains in the past 24 hours. The total cryptocurrency market cap is above $920 billion, as the market has added more than 4% to its value so far today.

Ether, the second-largest cryptocurrency by market cap, is also down by more than 1% and is now trading below $1,300 per coin.

With Bitcoin currently experiencing losses, the leading cryptocurrency could slip below the $19k level for the first time this month.

Key levels to watch

The BTC/USD 4-hour chart is bearish, as Bitcoin has been underperforming over the last few days. BTC has lost more than 4% of its value in the last seven days and could record further losses over the next few hours and days.

BTC/USD Chart By TradingView

The MACD line has been below the neutral zone since Friday, October 7th, indicating that the bears are currently in control of the Bitcoin market.

The 14-day RSI of 31 shows that BTC could soon enter the oversold region if the bearish trend continues.

At press time, Bitcoin is trading at $19,111. If the bearish trend is sustained, BTC could drop below the first major support level at $18,945 before the end of the day.

In the event of an extended bearish run, Bitcoin could trade around $18,700 for the first time in a month.

However, the broader market is bullish, and that could affect Bitcoin’s performance in the near term. If that happens, Bitcoin could make a move toward the $20k resistance level over the next few hours or days.

Where to buy 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.

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Skilling

Skilling is a Scandinavian based cryptocurrency broker which has a desktop website as well as apps for iOS and Android devices. It supports over 50 cryptocurrencies and it has a demo account to allow users to gain familiarity with the platform. Skilling has no hidden fees, it is an officially regulated broker and it supports a wide range of payment methods.

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The post Bitcoin risks dropping below $19k soon: Can the bulls defend this psychological level? appeared first on CoinJournal.

11. Oktober 2022

Binance releases urgent patch to fix the cross-chain infrastructure after attack

Binance developers have today announced the release of the temporary urgent patch v1.1.16. The patch will fix the cross-chain infrastructure between the BNB Beacon Chain and the BNB Smart Chain after the recent $100 million cross-chain exploit.

The patch will re-enable cross-chain communication which had been temporarily hampered after the attack.

The v1.1.16 patch is more of a hard fork of the mainnet and the testnet. The Moran hard fork upgrade for the mainnet is expected to happen at block height 22,107,423 on October 12 at around 8 AM UTC while the upgrade for the testnet is expected to take place at block height 23,603,940 on October 11 at 8 AM UTC.

What the upgrade seeks to fix

In a nutshell, the upgrade will fix the vulnerabilities in the IAVL hash check, make the relayer whitelisted to the genesis, and introduce a block header in sequence check in the CrossChain Contract.

Validators will be required to check and upgrade with the patch immediately after the upgrade goes live since it is an emergency patch fix aimed at fixing issues and potential risks on the BNB Chain.

Binance developers have confirmed that users will be able to receive their funds immediately after the completion of the upgrade and the staking rewards will also recover the next day.

Afterwards, Binance will announce further improvements.

BNB token price continues to fall

The BNB price has been in a freefall mode since the BSC Token Hub exploit on October 7.

After a 5% drop on the very day of the exploit, the BNB token has dropped by a further 8%. At press time, it was trading at $271.22, which is way below its highs above $297 at the start of October.

The post Binance releases urgent patch to fix the cross-chain infrastructure after attack appeared first on CoinJournal.

11. Oktober 2022

Coinbase gains regulatory approval to offer crypto services in Singapore

Crypto exchange Coinbase has announced in a press release that it has received preliminary regulatory approval from Singapore’s monetary authority (MAS) to offer crypto services in Singapore. Following the in-principle approval, Coinbase can now offer “regulated digital payment token products and services in Singapore.”

Following the approval in Singapore, Coinbase has become one of the few crypto exchanges that have successfully gone through the painfully lengthy and rigid licensing process enacted by the MAS .

In an interview with Financial Times, the top fintech officer at MAS, Sopnendu Mohanty, claimed that the regulatory body had enacted the “painfully lengthy and rigid licensing process for institutions to prohibit bad behaviour rampant in the crypto sector.”

Coinbase expansion into Singapore

Coinbase has quietly been expanding its presence in Singapore has launched a technical hub in the region and increasing its efforts to hire Web3 personnel in the city-state.

Coinbase Venture arm has also invested in more than fifteen Singaporean Web3 startups in a push to boost crypto adoption in Singapore.

Besides announcing the regulatory approval, Coinbase’s press statement also added that the company’s CEO and co-founder, Brian Armstrong would be attending a stage event in Singapore alongside MAS’s chief fintech officer.

The statement reads:

“We are also excited to confirm that our CEO and co-founder, Brian Armstrong, will be taking the stage at the Singapore Fintech Festival on November 4th, in a fireside chat with Sopnendu Mohanty, the Chief Fintech Officer at MAS.”

In the recent past, Singapore has grown into a global finance hub housing a large number of fintech institutions, asset managers, hedge funds, insurance firms, and corporate banks. This growing pool of fintech institutions has also expressed a desire to explore the budding crypto industry including investing some stake in some of the sector’s digital assets.

Prior to Coinbase’s in-principle approval, the MAS had granted in-principle approval to Crypto.com.

The post Coinbase gains regulatory approval to offer crypto services in Singapore appeared first on CoinJournal.

10. Oktober 2022

What is the Injective Protocol, and why is it an exciting watch?

Injective Protocol INJ/USD is a little-known Ethereum-based DEX. The network claims to be an open and interoperable smart contract platform. It is optimised for DeFi applications, an area touted as monumental in the growth of decentralised finance. The DEX uses the Cosmos-backed L2 sidechain for faster speeds, decentralisation, and connection to the Ethereum chain.

Injective provides advanced smart contract features. They include forex synthetics, cross-chain margin trading, derivatives, and futures. The DEX aims to eradicate barriers that limit access to the DeFi sector. It also removes gas fees and ensures high transaction speeds for limitless trading.

INJ token powers the Injective network. It helps in governance and ensures the security of the DEX. The token also enables derivatives collateralisation and is used to reward the market makers.

While the Injective Protocol has been in the market since 2018, it has attracted less attention. That’s partly because it ranks lowly at #159 on CoinMarketCap. Its market cap is only $135.6 million.

INJ eyes a crucial breakout after double-digit weekly gains

Binance

Binance is one of the largest cryptocurrency exchanges in the world. It is better suited to more experienced investors and it offers a large number of cryptocurrencies to choose from, at over 600. Binance is also known for having low trading fees and a multiple of trading options that its users can benefit from, such as; peer-to-peer trading, margin trading and spot trading.

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KuCoin

Kucoin is a cryptocurrency exchange which offers over 200 cryptocurrencies. Kucoin has a wide range of services, such as; a built-in peer-to-peer exchange, spot and margin trading, bank level security and a wide range of accepted payment methods. Users can benefit from a beginner-friendly interface and relatively low fees.

Buy INJ with KuCoin today

Considering price data, INJ hit $27 last year before the market crash. The token’s low in the year remains at $1.13, but recent recoveries have taken the token to $1.8. Are we set for an explosive move?

Source – Trading

The daily chart outlook is positive for the Injective Protocol token. While the cryptocurrency faces rejection at the $2 level, momentum is strong from the MACD indicator.

The token has attempted a breakout at $2 multiple times. That suggests that buyers are gathering momentum. On the downside, INJ has rejected a decline below $1.74 since August.

Should you buy INJ

While investing in INJ at the moment is premature, a potential breakout would be a win for bulls. Investors should buy on a breakout or further lower on the current correction.

The post What is the Injective Protocol, and why is it an exciting watch? appeared first on CoinJournal.

10. Oktober 2022

Stellar Lumens makes a bullish statement. Why do you need to watch the token?

Stellar Lumens XLM/USD trades at key resistance of $0.126. However, momentum is building, with key technical indicators pointing to a potential breakout. According to the CoinMarketCap data, Stellar Lumens has added nearly 10% in the past one week. The gains are the highest in the week after Ripple’s XRP.

LunarCrush AltRank™ places XLM and XRP as potential bullish movers. According to a tweet on October 8, XLM, alongside XRP, has a low AltRank. The ranking is interpreted as a sign of a bullish move. Crypto analytics firm DYOR.net also recognises XLM among the top digital assets with potential bullish trends.

XLM trades at resistance as bullish momentum build

eToro

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Capital.com

Capital.com is a global broker which offers over 200 cryptocurrencies for its users. It comes with a range of features such as; great security, 24/7 support, demo accounts and a wide variety of assets. On top of that, it also has no inactivity, withdrawal or deposit fees, which makes it stand out from other crypto brands.

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Source – TradingView

On the daily chart, XLM is attempting to break above the resistance. In fact, XLM is retesting the resistance after unsuccessfully dislodging it last month. The token remains supported by the 20-day moving average and 50-day moving average. A 20-day MA crossover above the 50-day MA confirms a bullish momentum.

If we turn to the MACD, the indicator is in the bullish zone. A growing divergence of the oscillator and the signal line indicates that momentum is building up for XLM. With momentum building at the resistance, the odds are for a breakout rather than a correction.

Should you buy XLM now?

XLM remains on a potential breakout. The fundamentals and the technical align, reinforcing a bullish view. Should the cryptocurrency break to the upside, XLM would move higher to find the next resistance at $0.148.

Currently, investing in XLM at the key level is not a good idea. Wait for a breakout and assess the trade. Potentially, the inflation data on Thursday could drag markets and force a correction. Aside from the market dynamics, XLM should be on the investors’ watch list.

The post Stellar Lumens makes a bullish statement. Why do you need to watch the token? appeared first on CoinJournal.