Schlagwort: blockchain markets

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Higher interest rate concerns put a dampener on Bitcoin, says analyst

Market’s speculation of the US Federal Reserve’s interest rate hikes continues to hinder Bitcoin, according to Marcus Sotiriou of GlobalBlock.

Bitcoin continues to hold above $43,000 after a recent uptick in prices. However, the bellwether cryptocurrency “remains hesitant,” to make a major move upwards, suggests an analyst with UK-based digital asset platform GlobalBlock.

And he points to market concerns over higher interest rates as one of the factors to put a dampener on the flagship cryptocurrency’s chances of further gains.

In a note shared with CoinJournal in which he comments on various Bitcoin-related news events this week, Marcus Sotiriou points to data showing Bitcoin’s latest upside to have been fueled by an uptick in the futures market. He notes that the recent rally had its legs propped by the derivatives markets while spot sold-off.

The aggregated Cumulative Volume Data (CVD) for spot and the futures market shows that the latter has posted a significant surge in recent weeks while spot volumes continued to stagnate.

“This suggests that this price rise was driven by speculation or hedging, rather than genuine demand,” he noted.

As the broader market watches out for the language in the US Federal Reserve’s minutes from the January 25th-26th policy meeting, Sotiriou says the contents could provide an “insight” into the Fed’s thinking on interest rates.

While he thinks the market is unlikely to be “shocked” by today’s FOMC minutes given investors have already priced in the March rate hike, concerns remain around just how aggressive the Fed will be going.

Despite these concerns, Sotiriou says increased investment into the crypto sector by major financial institutions is a positive indicator of a possible rebound. 

Such companies include Singapore’s DBS that plans to launch a crypto trading service for retailers by the end of 2022, and Fidelity, which just launched an exchange-traded product (ETP) in Europe.

Bitcoin currently trades around $43,630, nearly 1% lower in the past 24 hours. The cryptocurrency looks to be mirroring the US stock market, which has the S&P 500 and Nasdaq down by 0.76% and 1.31% respectively.

The post Higher interest rate concerns put a dampener on Bitcoin, says analyst appeared first on Coin Journal.

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Market highlights February 16: Bitcoin battles global uncertainty at $44K

Events in Russia have dominated market sentiment. Prices pushed higher on optimism over the official recognition of crypto in the country, before dropping back down on concerns about the Ukraine conflict.

Elsewhere, more volatility was catalyzed by hot US inflation figures coming in at 7.5%, and the seizure of $3.6 billion in hacked Bitcoin by the US Justice Department.

BlackRock, which manages over $10 trillion in assets for pension schemes, endowments and sovereign wealth funds, is reported to be preparing a crypto trading service for its clients.

Big four accounting firm KPMG Canada announced the purchase of Bitcoin and Ethereum for its own corporate treasury, saying that “institutional adoption of crypto assets and blockchain technology will continue to grow and become a regular part of the asset mix.”

Tennessee has followed Arizona by drafting its own Bitcoin bill that would allow the state and other municipalities to invest in crypto assets.

Top cryptos

Bitcoin has retreated amidst fears of war and uncertainty around inflation. The flagship crypto rallied to a peak of almost $46K early last week, after local media reported that Russian authorities would create new legislation recognizing crypto assets as a form of currency.

The move is a major change of direction for the Russian Central Bank, which previously proposed a blanket ban on crypto.

In response to the news, some market analysts are now speculating that Russia could have even bigger future plans — such as accepting Bitcoin as payment for natural gas.

The top 10 cryptos were all in the green over the past 24 hours with Ethereum adding almost 4%, while Cardano and Solana gained 2%.

Avalanche is the biggest gainer in the top 20, up 8% today. The self-styled Ethereum killer is still rising after being listed on eToro recently.

Another altcoin that managed to defy market turmoil was Shiba Inu, finishing the 7-day period with 3% gains after the announcement of a mysterious new metaverse project.

Top movers

The top mover in the top 100 is without a doubt Rally (RLY), a social token-oriented protocol that allows creators to launch their own token and build a digital economy around their work. 

Streamers, artists, musicians, gamers, athletes or general content creators can tap into their communities and offer benefits to recruit, retain and monetize their following seamlessly. Rally flew into the top 100 today and is currently at #87. It has added 65% to its value in 24 h.

Neo is a rapidly growing ecosystem that has the goal of becoming the foundation for the next generation of the internet, a new economy where digitized payments, identities and assets come together. It gained 11% today. Qtum is also up 11%.

Algorand, the 26th biggest crypto by market cap, is about to break $1. It has gained 7% in the last 24 h. It’s also a good day for metaverse tokens. Decentraland and Axie Infinity each added 8% to their value today.

Bitfinex’ token UNUS SED LEO continues to reverse gains. It’s down 7% today.

Trending

The biggest gainer of the day is Catcoin, a community-driven meme token created for the cat community by someone or a group of people with the tongue-in-cheek name Miaoshi Nekomoto. 

Catcoin develops applications to provide the community with various tools and simplify the crypto world for new investors. It has gained 838% in the last 24 h.

Another trending coin is ALICE, the native token of My Neighbor Alice, a farm-themed play-to-earn game on Chromia.

The game bills itself as a place where “players can buy and own virtual islands and collect and build exciting items while also making new friends.” It has added 11% to its value today.

The post Market highlights February 16: Bitcoin battles global uncertainty at $44K appeared first on Coin Journal.

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MyNeighborAlice (ALICE) Price gained 11%: top places to buy it

MyNeighborAlice (ALICE) logo on a mobile phone being held by 2 hands

MyNeighborAlice (Alice) doesn’t seem to have anything to do with the evergreen hit, at least not on the surface. It’s one of the cryptocurrencies that are trending today.

Look no farther than this short article to get the details and learn if it is worth buying and the best places to buy it.

Top places to buy MyNeighborAlice now

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

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

What is MyNeighborAlice?

It is a farm-themed play-to-earn game on Chromia. The game bills itself as a place where “players can buy and own virtual islands and collect and build exciting items while also making new friends.”

Player are represented by individual avatars and can buy virtual real estate from Alice, the central character of the game, or on the internal marketplace. All purchased land is represented as an NFT.

It is blockchain-based and integrates DeFi features, but it does not require prior knowledge of cryptocurrency and blockchain. Its social aspects were inspired by Animal Crossing, whereas Minecraft serves as a role model for building mechanics.

Its unique style incorporates the character of Alice as a relatable “in-game friend”, making the game more approachable for casual players. You don’t have to interact with the underlying blockchain technology, although the game does allow you to explore DeFi functionality.

Should I buy it today?

In-game tokens like ALICE are only as popular as the games they’re used in. Waning interest in the game will cause the value of the token to decline.

ALICE price prediction

Wallet Investor is bullish on ALICE long-term. They make a price prediction of $18.15 for February 2027, which is about twice its current value. A 5-year investment will generate revenue of around 102%. This means a $100 investment will go up to $202 in 5 years if WI’s prediction pans out.

MyNeighborAlice on social media

The post MyNeighborAlice (ALICE) Price gained 11%: top places to buy it appeared first on Coin Journal.

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Telos (TLOS) price has risen by 120% over the past month: this is why it is rising

Telos (TLOS) has maintained a bullish outlook since January 27th. It set a new all-time high at $1.43 on February 7 before taking a slight pullback to $0.986 and later resuming its bullish trend.

It is currently trading at $1.12 after a 10.84% surge in the last 24 hours.

In this article, we shall take you through what is propelling the current Telos (TLOS) Bull Run.

What is Telos (TLOS)?

Before we delve into the current bullish trend, it’s important we first explain what Telos is.

Telos is a blockchain network that incorporated with an EOSIO software aiming at bringing scalability and speed to smart contracts for NFTs, social media, gaming, and decentralized finance (DeFi). Its native token is called TLOS.

Why is the price of TLOS rising in February?

Three reasons are being attributed to the current bullish TLOS bullish trend. These include new partnerships, TLOS integration to the Anchor wallet, and the increased launching of NFTs and DeFi projects on the Telos network.

New Partnerships

Over the past few weeks, Telos has had several integrations and partnerships that have increased its brand awareness across the globe.

For example, the integration of Telos Foundation with DappRadar has helped Telos users to keep track of their dApps on the Telos Network.

The Telos Foundation also partnered with BikeChain, a self-governing ride-share application that processes all the transactions on the Telos blockchain.

Launching of NFTs and DeFi projects on the network

There has been an increase in the number of DeFi and NFT projects launching on Telos; something that has attracted liquidity and users to the protocol. The most recent DeFi project is the OmniDEX which is the first native decentralized exchange to be built on the Telos network.

Other projects that have been recently launched from Telos include the cross-chain NFT marketplace tofuNFT, the AristotleDAO DeFi protocol, the TelosPunks NFT project, and the NFT social media app APPICS.

TLOS integration to the Anchor wallet

The other significant development in the Telos ecosystem was the network’s integration to the Anchor wallet from Greymass, an organization built to facilitate the growth of distributed ledger technologies and the infrastructure powering them, this led to a huge price hike.

Through this integration, TLOS holders can sign in safely to various applications like Staker One platform, Telos web wallet, and the Decided Voter, that operate within the network.

The post Telos (TLOS) price has risen by 120% over the past month: this is why it is rising appeared first on Coin Journal.

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Analyst says Bitcoin needs to flip $43K into support, bears seek to stall bounce,

  • BTC/USD bounced above $44,000 on Tuesday, up from lows of $41,700 reached on Monday

  • Analyst Rekt Capital says flipping the area above $43k into support will help BTC bulls retain the upside advantage.

Bitcoin’s recovery off its macro range lows following the dip to support at $33,000 looks to pick up fresh momentum after Monday’s downside. While bulls look to move higher, the bears are likely to stage a comeback, particularly if crypto mirrors any potential downturn in the equities market.

On Monday, BTC managed to hold above $42k even as stocks fell amid concerns over the Russia-Ukraine crisis. 

Can Bitcoin go higher?

Popular analyst Rekt Capital says the bounce seen overnight where BTC is back above $44,000 has the flagship cryptocurrency “again challenging” a key resistance zone.

The mid-range area the analyst is watching is in the region of $43-$48k, where the weekly chart has the Bull Market EMAs buyers need to turn into support and open a potential path for further gains.

The upside also sees BTC pop into the $43k-$52k above which lies the macro range highs reached last November.

Rekt says:

“BTC is once again trying to confirm a breakout into the $43100-$52000 range (black-black). At this time, $BTC is positioning itself up for a retest just like in the previous orange circle”

Weekly chart showing Bitcoin price breakout into the key bullish range of $43-$52k. Source: Rekt Capital on Twitter.

Looking at higher timeframes, the analyst points to the 12-month chart that he says shows the yearly resistance level around $46,500 is struggling to keep BTC lower. The outlook suggests BTC remains bullish as long as there is no major rejection to the downside from the level.

According to pseudonymous analyst Walter Cripto, the technical outlook for Bitcoin will continue to be bullish short term if bulls hold onto support above $44,000. If that scenario works out, he points to a fresh bounce to resistance levels above $52,000.

At the moment, Bitcoin is trading around $44,300, nearly 4% up in the past 24 hours. Weekly gains stand at just over one percent.

As per Rekt Capital, the key support level remains around $43,280.

The post Analyst says Bitcoin needs to flip $43K into support, bears seek to stall bounce, appeared first on Coin Journal.