Kategorie: Crypto News

Daily crypto headlines and news about bitcoin, ether, ripple, solana, altcoins, nft, market, business, analysis, nft, metaverse, minting and mining.
Veröffentlicht am

Bitcoin metric suggests where BTC price could trade next

  • Bitcoin flows from spot exchanges to derivative exchanges suggest a potential short term bullish flip for BTC price, 
  • However, BTC remains in bear market owing to flows to spot exchanges.
  • CryptoQuant Senior Analyst Julio Moreno shared the outlook on Thursday.

Bitcoin remains in a bear market as price struggles to sustain an upward move since the breakdown to June lows. However, according to one on-chain metric, the flagship cryptocurrency’s price outlook for the short term suggests a bullish flip.

Nonetheless, the prevailing market sentiment might see a period of further accumulation.

BTC price outlook

The bullish perspective, shared by CryptoQuant senior analyst Julio Moreno via Twitter, is based on the inter-exchange flows of BTC. 

The analyst says this metric has previously been a market cycle indicator, with prices going up when flows from Coinbase to derivative platforms increase and vice versa.

“Bitcoin flows from Coinbase to derivative exchanges are increasing again,” he tweeted on Thursday. “These kind of flows are associated with the market cycle – increasing flows from Coinbase to derivative exchanges, bull market [and] decreasing flows, bear markets.”

So while flows into spot exchanges remain high to suggest bears are still in charge, increasing transfers to derivatives means the chances of a bullish flip over the next few weeks are growing.

Bitcoin flows- what happens?

Bitcoin flows to derivative platforms jump in a bull run, helped by a risk-on sentiment that sees traders leverage their BTC on long positions. Investors also tap into the exuberance to bet on altcoins, using their Bitcoin sent to derivative exchanges as collateral. 

The opposite occurs during bear markets, with jitters in a risk-off environment seeing flows to spot exchanges amid selling pressure.

The post Bitcoin metric suggests where BTC price could trade next appeared first on CoinJournal.

Veröffentlicht am

VGX Price Prediction as the Voyager Digital Token Flies

The VGX price surged to the highest point since July 18 as the bidding war for Voyager Digital continued. The token rose to a high of $0.6872, which was almost 400% above the lowest level this year. As a result, its total market cap surged to over $182 million.

Why is Voyager Digital token rising?

Voyager Digital was a leading Canadian cryptocurrency exchange that handled billions of dollars every week. The situation changed a few months ago following the crash of Terra’s ecosystem, Celsius, and Three Arrow Capital. 

Voyager Digital, facing a major cash squeeze, decided to file for voluntary bankruptcy in a bid to organize its resources. It also decided to stop deposits, withdrawals, and the creation of new accounts. The VGX token continued trading.

Behind the scenes, a bidding war by some of the biggest companies in the crypto industry like Coinbase, FTX, and Binance. In total, there were about 22 suitors for the company.

Now, the VGX token price rose after it emerged that FTX and Binance were the main contenders. According to Coindesk, Binance has moved aggressively to acquire those assets. FTX, which made an offer to buy the company last month, is still pursuing the company’s assets. 

Coinbase had partnered with Callaway Capital Management to launch a bid but then walked away. Besides, the company’s stock price has crashed hard this year. 

Therefore, the VGX price is rising as investors focus on the future of Voyager now that it seems like it will be saved by a bigger company. The rise is also part of a short squeeze that has been going on in the past few months.

VGX price prediction

The four-hour chart shows that the Voyager Digital price has been in a bearish trend in the past few weeks. In this period, the coin formed a falling wedge pattern, which is usually a bullish sign. This pattern also explains why the coin has gone parabolic in the past few days. 

Voyager moved above the 25-day and 50-day moving averages while the Relative Strength Index (RSI) moved above the overbought level. Therefore, I suspect that the coin will now retreat as the enthusiasm about the company’s acquisition fades. If this happens, the next key support at $0.3800.

The post VGX Price Prediction as the Voyager Digital Token Flies appeared first on CoinJournal.

Veröffentlicht am

NearPay announces the launch of its virtual crypto cards and wallet apps

NearPay has launched its virtual cryptocurrency cards and its wallet apps available for both iOS and Android devices.

NearPay, a crypto finance protocol, announced on Friday, August 26th, that it has officially launched virtual crypto cards and its Wallet for iOS and Android to bring the modern digital banking experience to the world of crypto. 

According to the team, the NearPay Wallet is now available on all platforms, including Web, iOS and Android. NearPay allows users to purchase cryptocurrencies using their credit card or bank transfer. 

The app also allows users to send, receive and exchange cryptocurrencies or make withdrawals directly to bank accounts. Furthermore, users can instantly receive a Visa debit card, which allows them to spend cryptocurrencies for online purchases with automatic conversion to fiat. 

However, the NearPay team explained that the service is currently available to residents of the European Economic Area (EEA) and the UK. 

The team added that the NearPay Wallet already supports 38 cryptocurrencies, including NEAR, BTC, ETH, and USDT. 

While commenting on this latest development, Ivan Ilin, COO at NearPay said;

“At NearPay, we have taken the best features of modern digital banking and brought them to the world of crypto to create a simple interface that makes managing all your finances, both fiat and crypto, easier than ever. With our newly launched iOS and Android apps our customers can access NearPay Wallet on the go and instantly get virtual crypto cards to spend their assets without converting them in advance“.

NearPay is a cryptocurrency finance protocol that provides the easiest way to exchange, manage, and spend crypto. 

The NearPay Wallet provides a modern digital banking experience for both crypto and fiat assets.

According to Insider Intelligence, payments made using cryptocurrencies are expected to surpass $10 billion in total transaction value globally for the first time in 2022. The report added that 60% of crypto owners are interested in using crypto as a payment method to make online purchases more private or secure.

The post NearPay announces the launch of its virtual crypto cards and wallet apps appeared first on CoinJournal.

Veröffentlicht am

ADA is up by 3% today as the Cardano community prepares for the Vasil upgrade

The cryptocurrency market could end the week in a bearish tone but ADA is outperforming the other major coins.

ADA, the native token of the Cardano blockchain, is the best performer amongst the top 10 cryptocurrencies by market cap. ADA has added more than 3% to its value, outperforming the broader market in the process.

The cryptocurrency market could end the week in a bearish fashion, with the market losing nearly 2% of its value in the last 24 hours. This has resulted in the total market cap dropping close to the $1 trillion mark.

Bitcoin has maintained its position above the $21k level but continues to struggle to move past the $22k resistance point in recent days. Ether, on the other hand, has dropped below $1,700 after losing more than 2% of its value in the last 24 hours.

ADA’s ongoing positive performance comes as the Cardano development team provided an update on its Vasil upgrade. 

According to Input Output, the development team behind the Cardano blockchain, they continue to work towards bringing the Vasil upgrade to mainnet. The team provided updates on bug issues and other miannet node status. 

Key levels to watch

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

The MACD line is close to entering the positive region, indicating bullish momentum for ADA. the 14-day RSI of 59 shows that ADA could enter the overbought zone if the positive momentum can be maintained.

At press time, ADA is trading at $0.4812 per coin. If the positive rally continues, ADA could surge past the $0.535 resistance level before the end of the day. However, ADA could find it hard to surpass the second major resistance level at $0.577 over the next few hours. 

The post ADA is up by 3% today as the Cardano community prepares for the Vasil upgrade appeared first on CoinJournal.

Veröffentlicht am

Eminem, Snoop Dogg to perform Bored Ape-themed ‘Otherside’ song at the VMAs

Rap legends Eminem and Snoop Dogg are bringing their Bored Ape NFTs to the 2022 VMAs thanks to a partnership between MTV and Yuga Labs, the firm behind the “Otherside” metaverse.

According to an announcement MTV published on Thursday, “From the D 2 the LBC” is notable for being inspired by the world of the Otherside metaverse.” 

The Bored Ape Yacht Club’s official Twitter page confirmed:

The rap icons’ return to the VMAs will feature a performance of their “From The D 2 The LBC,” a BAYC-styled song inside the upcoming metaverse.

“This is the first metaverse inspired performance to ever grace an award show. The 2022 “VMAs” air LIVE from Prudential Center on Sunday, August 28 at 8PM ET/PT,” the press release posted by the Eminem team noted.

Eminem and Snoop Dogg, who are both returning to the MTV show after more than a decade, are up for “Best Hip Hop” with their hit collabo.

The video for the “From the D to the LBC” was released in June, and features Bored Ape NFTs of the two artists. The song has over 46 million YouTube views.

The post Eminem, Snoop Dogg to perform Bored Ape-themed ‘Otherside’ song at the VMAs appeared first on CoinJournal.