Kategorie: Crypto News

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Bitcoin (BTC) regains crucial support despite intensified military confrontations in Ukraine

After falling sharply in today’s session, Bitcoin (BTC) has for now regained a crucial support zone. This comes as the military confrontation in Eastern Europe continues to intensify. It’s unclear how long BTC can stay above this point. Here are some highlights.

  • Bitcoin had earlier fallen below the crucial support of $35000.

  • The mega-cap coin however stopped the bleeding and was trading at $38,732 at press time.

  • There is still a lot of weakness expected in the coming days.

Data Source: Tradingview 

Bitcoin (BTC) – Where do we go from here

A lot of markets were down in the early trading hours of the European session. With the exception of gold and oil, which saw massive gains, crypto and equities were all tradings lower. But for Bitcoin (BTC), the drop today was a continuation of a bearish trend that has taken hold over the last two weeks.

But after initially falling below $35,000, BTC has managed to recover above that crucial support. The key now for bulls is to hold this threshold at least until the end of the week. 

However, as Russia ramps up its military operations in Ukraine and the Western allies impose a raft of economic sanctions on Moscow, this seems highly unlikely. We expect BTC to bottom at around $32,000 in the coming days.

Is it the right time to buy Bitcoin?

This is probably the worst time to buy crypto. The market is shaky, and volatility has become very high. It is likely that the war in eastern Europe will continue in the coming days and weeks. 

Until there is a peaceful resolution to the conflict, we expect more volatility and weakness on Bitcoin. However, if in the coming days the large-cap falls below $30,000, which is likely, then it would be a good time to get in.

The post Bitcoin (BTC) regains crucial support despite intensified military confrontations in Ukraine appeared first on Coin Journal.

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Pompliano: The US needs to embrace Bitcoin immediately

  • America needs to “get very serious about [its] Bitcoin strategy as a nation-state,” said Pompliano.
  • Bitcoin is a US technology “from an ethos standpoint,” he added.
  • Most of the selling pressure around BTC is from short-term holders and institutional traders likely to be positioned at a loss.

Antony Pompliano, the co-founder of Morgan Creek Digital and ardent Bitcoin bull, has urged the US to take the lead in embracing Bitcoin.

Speaking to CNBC’s “Squawk Box” anchor Andrew Ross Sorkin, Pompliano said that the United States needs to take this step on the “off-chance, that 0.01% that the US dollar ends not being the global reserve currency used by every single country in the world.”

Terming this outlook a matter of national security, the investment analyst noted that more and more US political figures have started talking about Bitcoin adoption at the national level.

However, he says the US doesn’t seem to have a strategy on how to take initiative and become the leading destination of this transformative technology.

According to him, America would do well to be the biggest holder of Bitcoin- noting that it (BTC) is the biggest decentralised digital currency not under the control of any single entity.

About 30% of Bitcoin’s hashrate is in the US following last year’s exodus of miners from China into the country and other friendly locations. But despite this, the analyst believes the US needs to have a strategy.

„We need to get very serious about what is our Bitcoin strategy as a nation state,“ he told Sorkin during the “Squawk Box” show. 

Stating that the US needs to take a leading role going forward, Pompliano noted:

„Bitcoin is an American technology from an ethos standpoint. It’s about censorship resistance, it’s about free speech; it’s about self sovereignty and individual rights.“

His comments came as markets across the world looked to bounce from a sharp sell-off triggered by Russia’s invasion of Ukraine. Bitcoin’s value had dipped below $35k as it looked like sellers would push it to critical support around $30,000. 

About Bitcoin’s price movement and the sell-off alongside stocks, Pompliano said that the pressure is mostly from short-term holders and institutional traders. These groups of BTC holders are likely to be ones selling at a loss, he opined. 

Long-term holders and most people are in profit, he said, based on the realized price metric that puts the average cost basis in the mid $20,000 region.

And with Bitcoin’s bounce above $38,000 on Thursday, Pomp says a lot of the sell-off pressure might “be behind us.”

The post Pompliano: The US needs to embrace Bitcoin immediately appeared first on Coin Journal.

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Two more weeks to register for TRON Grand Hackathon 2022

TRON DAO and BitTorrent Chain (BTTC) launched the TRON Grand Hackathon 2022 and debuted the TRONDAO Forum on February 10 and registration began on Valentine’s Day, February 14. It ends on March 7.

Allowing developers to explore TRON

The event’s goal is to allow developers to explore and impact the TRON blockchain and DeFi, blockchain gaming, Web3, Digital Art/Collectibles, and more.

TRONDAO, TRON’s new crypto discussion site, encourages members of the decentralized community to leverage the power and expansion of TRON DAO, creating the basis for a cross-chain future for the whole blockchain economy.

H.E. Justin Sun, Founder of TRON commented:

The future is not far from where decentralized storage, decentralized applications, digital assets, and cryptocurrency wallets are widespread. With the increasing use of decentralized, peer-to-peer, and secure networks, blockchain is becoming the backbone of Web 3.0 – the decentralized web.

The TRONDAO Forum and TRON Grand Hackathon 2022 are about exchange, creating chances, and giving the TRON DAO community a voice.

Complete decentralization

In December, TRON became a community-governed DAO, thereby transitioning to a fully decentralized project. The Grand Hackathon aims to help the crypto community around the globe go mainstream.

TRON DAO and BTTC aim to inspire developers to take advantage of the TRONDAO Forum, design and create DeFi, GameFi, NFT, and Web3 applications and much more. 

About TRON

TRON is a blockchain-based operating system that aims to ensure this technology is suitable for daily use. Whereas Bitcoin can handle up to six transactions per second, and Ethereum up to 25, TRON claims that its network has capacity for 2,000 TPS.

It is a decentralized platform focused on content sharing and entertainment. One of its biggest acquisitions was the file sharing service BitTorrent back in 2018.

At the time of writing, the price of TRON was $0.06 and its 24-hour trading volume was just over a billion. TRON is up almost 8% in the last 24 hours.

The post Two more weeks to register for TRON Grand Hackathon 2022 appeared first on Coin Journal.

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Highlights Feb 25: Cryptos recover, UK100 ends deep in the red

Despite starting with noticeable declines yesterday, cryptos showed an impressive recovery over the past 24 hours. 

London-listed firms with strong links to Russia dragged the UK100 (-2.26%) deep into the red yesterday. Investors sold out of Anglo-Russian miners Polymetal International (-36.07%) and Evraz (-30.28%) in droves, making them by far the index’s worst performers.

US markets were able to post new gains. The SPX500 (+1.28%), NASDAQ100 (+3.13%) and DJ30 (+0.03%) all climbed higher.

Top cryptos

Bitcoin was up more than 10% at time of writing, joined by 6 other top 10 cryptos recording gains of 8% or more. The recent uptick could be attributed to sanctions on Russia announced by US President Biden, which include limiting the use of several major fiat currencies.

Terra is the biggest winner among top cryptos, up 23% today. It is surging on news trading with the LUNA pair has opened on Bittrex, among others.

Top movers

All top 100 coins are in the green. Anchor Protocol is a standout with 23%. Fantom gained 15% and Maker is up 19%, reversing yesterday’s prominent losses. Gala also gained 15%. Amp and Arweave are up 18%. Theta Fuel gained 14%.  

Neo and Zcash are both up around 13%. Zcash is on its way to breaking $100. Convex Finance, yesterday’s biggest loser, recovered 17% of its losses today.  

Trending

The meme token MetaDogecolony added 360% to its value. In its simplest terms, its token DOGECO is a play-to-win token. At the moment, you can play the game consisting of 1-30 levels, which the team has released as a demo on its site. 

Lucky Block is pushing for a global, blockchain-based lottery system. Its token LBLOCK has added more than a third to its value in the last 24 h.

Fantom is pushing the price of BOO up. BOO is the native token of SpookySwap, an automated market-making decentralized exchange (DEX) for the Fantom Opera network.

It is surging today with gains of 31% in the last 24 hours. Users can now provide liquidity for the Fantom-Revault trading pair on the DEX.

The post Highlights Feb 25: Cryptos recover, UK100 ends deep in the red appeared first on Coin Journal.

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SpookySwap soaring after Fantom-Revault integration: best places to buy SpookySwap

SpookySwap is an automated market-making decentralized exchange (DEX) for the Fantom Opera network. It is surging today, having gained 31% in the last 24 hours. Users can now provide liquidity for the Fantom-Revault trading pair on the DEX.

This guide has all the information you need: what SpookySwap is, is it worth investing in, and the best places to buy SpookySwap today.  

Top places to buy SpookySwap now

As BOO is such a new asset, it’s yet to be listed on major exchanges. You can still purchase BOO using a DEX (decentralised exchange) though, which just means there are a few extra steps. To buy BOO right now, follow these steps:

1. Buy ETH on a regulated exchange or broker, like eToro ›

We suggest eToro because it’s one of the world’s leading multi-asset trading platforms, an exchange and wallet all-in-one with some of the lowest fees in the industry. It’s also beginner-friendly, and has more payment methods available to users than any other available service.

2. Send your ETH to a compatible wallet like Trust Wallet or MetaMask

You’ll need to create your wallet, grab your address, and send your coins there.

3. Connect your wallet to the Uniswap DEX

Head to Uniswap, and ‚connect‘ your wallet to it.

4. You can now swap your ETH for BOO

Now that you’re connected, you’ll be able to swap for 100s of coins including BOO.

What is SpookySwap?

SpookySwap is an all in one decentralized exchange for leveraging diversified funds across ecosystems with the speed of Fantom Opera.

It enables users to swap tokens on the Fantom network with low fees, collect swap fees from the liquidity pool, and stake proof of liquidity contribution at farms to start earning BOO, Spooky’s native token.

They are working towards a platform governed through community voting, with expert trading mode, a fast and polished UI, and limit orders. It will integrate a bridge, Certik audits, and snapshot governance.

Spooky uses the Fantom network to deliver top speed, security, and scalable transactions. They promise users swaps will cost a fraction of a penny. Finally, SpookySwap is trying to make crypto less cryptic, placing an emphasis on functionality and usability.

Should I buy SpookySwap today?

Nothing can substitute doing your own research. Any investment decision you make should be based on your market expertise, your attitude to risk, and the features and spread of your portfolio. Also consider how you would feel about losing money.

SpookySwap price prediction

Wallet Investor is bullish on SpookySwap. They predict a long-term increase. 1 BOO will be worth $63.30 in 5 years. In that time, an investment will generate revenue of around +218%. If you put $100 in SpookySwap, it might be up to $318 in 2027.

SpookySwap on social media

The post SpookySwap soaring after Fantom-Revault integration: best places to buy SpookySwap appeared first on Coin Journal.