Crypto News Archive - Seite 1551 von 1895 - Finanzmittel Info + Krypto + Geld + Gold

11. Juli 2022

Bitcoin remains above $20k as the crypto market adds 2% to its value

The cryptocurrency market has had a positive start to the week, adding more than 2% to its value in the last 24 hours.

The cryptocurrency market ended the previous week with a win and is starting this new week with positive performances. The total cryptocurrency market currently stands at around $920 billion, up by more than 2% in the last 24 hours.

Bitcoin, the world’s leading cryptocurrency by market cap, has underperformed over the past 24 hours. BTC is down by less than 1% since the start of the day and continues to trade above the $20k level.

Despite its current poor performance, BTC has maintained its price above the $20k psychological level.

Bitcoin could attempt to surge higher over the coming hours but this could depend on the performance of the broader cryptocurrency market.

Key levels to watch

The BTC/USD 4-hour chart remains neutral as Bitcoin has been underperforming over the past 24 hours. The technical indicators show that Bitcoin is erasing some of its earlier gains.

The MACD line is around the neutral zone, indicating that neither the bulls nor the bears are currently in charge. The 14-day relative strength index of 40 shows that Bitcoin could move closer to the oversold region.

If the bears continue to be in control, BTC could drop below the $20k support level over the next few hours. In the event of an extended bearish performance, BTC could drop below the $19,643 support level.

However, if the bulls regain control, Bitcoin could retest the $21k resistance level in the coming hours. The second major resistance level at $21,983 should limit further upward movement in the short term.

The post Bitcoin remains above $20k as the crypto market adds 2% to its value appeared first on CoinJournal.

11. Juli 2022

Chainlink’s prediction after Grayscale removed the token from its fund

Chainlink’s token LINK was recovered from the Grayscale fund
LINK powers the decentralized oracle network
The cryptocurrency is robust, although resistance holds it back

Chainlink’s LINK/USD may not be among the week’s strongest tokens. With 7-day gains of around 1.18%, the price has been relatively consolidating. However, it has kept key levels intact, implying a potential price take-off in the next few days.

LINK is the native token of a decentralized oracle network. Chainlink’s oracles are bridges connecting smart crypto contracts and off-chain data. Thus, the network’s continued growth is tied to the demand for smart contracts. Recently, the network announced that its smart protocols were live on the Fantom mainnet. Chainlink also, on June 7, announced a new road map that will introduce staking on the platform. The developments have been positive for LINK, which has been staging recoveries.

The most recent development has, however, been negative for LINK. On July 8, asset manager Grayscale Investments announced the removal of LINK from its Digital Large Cap Fund. The removal also included LTC, BCH, UNI, and DOT. However, the move has caused a little impact on LINK, which has been showing strengths lately. We believe LINK could stage a major comeback if it maintains key levels.

LINK recovering key level of $6.3 after slipping below it

Source – TradingView

The daily chart shows LINK trapped below the $7.4 resistance. The price has attempted a break above the level severally, but bears have taken control. The crypto’s support is currently at $6.3. MACD signal is above the moving average, meaning that the token is still bullish. We believe LINK is staging a recovery soon, although the price could remain subdued for a while. If the price fails to hold $6.3 support, it could slide to $5.6.

Summary

Chainlink’s token is robust despite its removal from the Grayscale fund. The token is recovering the $6.3 support but could remain subdued by the $7.4 resistance. Consider buying above the $5.6 support.

The post Chainlink’s prediction after Grayscale removed the token from its fund appeared first on CoinJournal.

11. Juli 2022

Decision moment for Cardano as whales add another $37 million in June

Cardano’s Vasil update went live on July 3 ahead of the mainnet launch
Whales have been accumulating the cryptocurrency ahead of the hard fork
ADA price remains subdued, but recent accumulation points to a potential spike

Cardano’s ADA/USD is a cryptocurrency that investors are highly anticipating a comeback. The optimism relates to the expected mainnet hard fork, enhancing Cardano’s scalability. Initially set for June 29, Cardano developers rescheduled the date to clear critical issues. ADA price has since been moving with the general crypto trends. Investors are accumulating the tokens.

Santiment indicates that ADA investors boosted their holdings by nearly 80 million tokens in June. The investors have holdings that range between 10,000 and 100,000 tokens. The Santiment data also indicated that the sell-off of ADA had reduced significantly since mid-June.

Investors are banking on the Vasil upgrade, which is expected to boost the ADA price soon. The date for the final upgrade is yet to be confirmed. The Vasil update went live on the network testnet on July 3. With these developments, it is worth exploring when to buy ADA.

ADA slips to support amid bearish pressure

Source – TradingView

ADA has been trapped between $0.51 resistance and $0.44 support for a month. The moving average and MACD indicators are currently flashing bearish signs. We view the region as a potential make or break for ADA. Long-term buyers should consider buying at the $0.44 bottom. ADA would experience a lasting momentum if it successfully clears $0.51 resistance. Investors should now watch for price action and a potential bullish reversal at $0.44.

Summary

Cardano is experiencing an increased whale activity despite a bearish market. ADA price is under pressure as technical indicators reveal bearish signs. However, the price remains supported at $0.44, and a bullish reversal could occur.

The post Decision moment for Cardano as whales add another $37 million in June appeared first on CoinJournal.

11. Juli 2022

Swiss post office to launch crypto custody and trading services

The Swiss post office, via its banking arm PostFinance, plans to launch the crypto custody and trading services by 2024.

The Swiss post office is looking to offer crypto custody and trading services to its customers, the company said on Monday.

The new services will be available via Swiss post office’s banking arm PostFinance, and targets going live by 2024, according to a report published by the Swiss Info.

Swiss post office acts on growing customer demand

While the Swiss post office recognizes that the current market conditions have been brutal to the crypto sector, it says this is indeed the “ideal time” to make an entry.

Growing demand from customers has been helped by PostFinance’s previous collaboration with Swissquote, the first major bank in the country to offer crypto trading to its clients in 2017. PostFinance does offer crypto exposure to its retail clients via a digital app dubbed YuhExternal.

The financial services provider is now looking to revamp that through a proprietary crypto trading and custody service. To help bring this into reality over the year and a half, PostFinance is working on potential business partners.

PostFinance is the fifth largest retail bank in Switzerland and its plans will see it join global giants such as Goldman Sachs, JPMorgan and Fidelity in looking to tap into crypto services.

The post Swiss post office to launch crypto custody and trading services appeared first on CoinJournal.

11. Juli 2022

I am skeptical about blockchain’s economic aspect, says Chelsea Manning

Blockchain technology has gained adoption in various sectors of the global economy, beyond cryptocurrencies.

American activist and whistleblower Chelsea Manning has revealed that she is bullish about blockchain technology. However, she is skeptical about the economic aspect of the technology.

She made her points known during an interview with Decrypt, stating that she has been a fan of Bitcoin for a few years now. According to Manning, her initial thought about Bitcoin is that it is an excellent technology instead of a tool to create wealth.

The activist said she thinks Bitcoin is an experiment in developing cryptographically based networks as a decentralised means of storing information. She stated that;

“I have a great interest in the technology [of blockchain], but the economic aspect, I’m a little bit more skeptical. I just don’t see how something [that] can switch from having some value to not having value very quickly as being a sustainable sort of system.”

Manning added that she believes blockchain technology can be used to revolutionize sharing information electronically, especially when it comes to privacy, protecting the contents of messages, and verifying sources. Her interest began to diminish when Bitcoin became more about money than technology. Manning said;

“I moved away from it because I realized that there’s a lot of people who don’t understand the technical aspects of this, or the security and privacy implications of this technology, but they view this as a brand that’s cool to be a part of.”

Bitcoin is the world’s leading cryptocurrency and has held that position since it was launched in 2009. The cryptocurrency reached an all-time high of $69k in November 2021 but has lost more than 60% of its value since then.

At press time, Bitcoin is trading above the $20k level, down by less than 1% over the last 24 hours.

The post I am skeptical about blockchain’s economic aspect, says Chelsea Manning appeared first on CoinJournal.