Schlagwort: crypto business

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TRON extends downturn from $0.32 on broader crypto woes

  • TRON (TRX) has extended its decline amid a widespread cryptocurrency market pullback.
  • Prices have dropped further from recent highs near $0.32 and could slide to lows of $0.25.
  • Market conditions, including Bitcoin’s performance, will dictate overall movement.

Latest market data shows the TRON token slipping below key support levels at $0.30, with this coming amid downward pressures related to geopolitical and macroeconomic uncertainty.

This comes as reduced risk appetite impacts top coins. Broader market losses tied to jitters around souring US-EU trade relations have spooked investors.

On Tuesday, Bitcoin dropped below $90,000 and briefly slid to $87,800.

Ethereum slid to under $3,000 amid sharp losses for US stocks, while Solana, BNB and XRP all fell below key support levels.

TRON price slips below $0.30

As crypto caught a bid last week, TRON’s price jumped to $0.32.

However, with bulls retreating across the market, the altcoin has once again breached the critical $0.30 support level.

Volume-driven selling has accelerated the drop, with the token now trading near $0.29 as of writing.

The 24-hour trading volume is up 22% to over $770 million.

This slip echoes patterns seen in late 2025, when TRX hovered around $0.28 to $0.30 amid similar market hesitancy.

While the token showed signs of pulling higher,  it generally has underperformed the broader crypto index.

The repeated test of the psychological support and resistance zone highlights indecisiveness.

Technical analysis: What next for TRON?

TRX displays weakening bullish momentum on the daily chart.

As can be seen,  the MACD signals a reversal with the histogram contracting.

Meanwhile, an RSI near 47 signals a potential acceleration towards oversold territory.

On the daily chart above, we can see the TRX price rose as RSI climbed to hit overbought conditions.

The pullback follows these gains and points to profit-taking.

Declines have pushed prices below the support line of a narrow ascending channel, and failure to reclaim $0.30 could allow bears to target lower supports at $0.25.

The 50-day exponential moving average currently acts as key reload zone near $0.29.

TRON Price Chart
TRON price chart by TradingView

As such, upside potential remains if buying interest rebounds amid broader market recovery.

Bulls’ first targets lie in the $0.32-$0.33 resistance zone. Short term, with momentum hinging on broader market conditions, will see bulls eye $0.38 and $0.50.

How BTC navigates the negative terrain is crucial for altcoins, as an extension of bearish price action spells doom for buyers across the crypto market.

The post TRON extends downturn from $0.32 on broader crypto woes appeared first on CoinJournal.

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Litecoin dips below $70 as geopolitical tensions throttle crypto momentum

  • Litecoin price fell below $70, trading to lows seen in April 2025.
  • Declines follow a broader cryptocurrency market downturn amid geopolitical tensions.
  • Bitcoin and Ethereum dropped to key support levels.

Litecoin (LTC) price has turned negative amid mounting downward pressure, with a slight dip in the past 24 hours pushing LTC below the critical $70 mark.

Seller dominance has the altcoin trading nearly 10% down over the past week.

This comes amid escalating geopolitical tensions fueled by uncertainties surrounding Greenland and the United States’ interest in the Arctic territory currently under Denmark.

It’s this dampening risk appetite across digital assets that has Litecoin at risk amid a correction to levels seen in April last year.

Litecoin fails to hold $70 support

Litecoin’s price action turned bearish after hitting a high of $84 on January 6, 2026.

A series of lower highs and lows led to today’s breach of the psychologically vital $70 support level.

It’s the first time in nearly a year, with market data showing LTC dipped to a low of $68.45 during early US trading hours on Jan. 20.

Daily volume, however, shrank 45% to about $413 million, indicating a potential thaw in heavy selling.

Litecoin Price Chart
Litecoin price chart by TradingView

Interestingly, the $70 level coincides with a long-term downtrend line from early 2020.

The weekly chart also shows that the 50-week exponential moving average (EMA) is about to cross below the 200-week EMA.

A 50‑week EMA crossing below the 200‑week EMA is generally interpreted as a long‑term bearish signal.

In technical analysis, this is a “death cross,” and often suggests downside or weak performance, in this case, it suggests the recent trend has weakened.

The weekly RSI is downsloping but not yet in oversold territory, but last time it touched the threshold, the LTC price hit lows of $46.

On-chain metrics also reveal a surge in long-position liquidations.

According to Coinglass data, Litecoin has seen close to $800,000 in 24 hour liquidations. Meanwhile, open interest at $564 million points to potential exacerbation of the slide.

The areas around $62 and $51 offer the next support zones.

Bitcoin, Ethereum fall to key levels

Global stocks fell on Tuesday, and mirroring the move is Bitcoin (BTC), which extended its correction amid the geopolitical tensions related to Greenland.

BTC has fallen to near $90,000, with buyers unable to reclaim key levels despite bullish corporate signals. Strategy’s announcement of acquiring 22,305 BTC for $2.13 billion, at an average of $95,284 per coin, did not lift buyers.

Among top altcoins, Ethereum (ETH) has shed over 5% in the past 24 hours to hover near $3,000.

XRP has again failed to rally amid a recent spike and slipped to $1.92 as cryptocurrencies struggled.

Geopolitical risks may see these coins tumble further.

The post Litecoin dips below $70 as geopolitical tensions throttle crypto momentum appeared first on CoinJournal.

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Portugal orders Polymarket to shut down over election betting surge

  • Portugal prohibits political betting under its 2015 online gambling law.
  • Polymarket remains accessible, but regulators may ask ISPs to block it.
  • Polymarket faces restrictions in 30+ countries, with access limits varying by market.

Portugal’s gambling regulator has ordered blockchain-based prediction market Polymarket to cease operations in the country within 48 hours after the platform saw a sharp spike in activity linked to Sunday’s presidential election.

According to Rádio Renascença, bets placed on the outcome of the Jan. 18 vote exceeded 103 million euros ($120 million).

The regulator, the Serviço de Regulação e Inspeição de Jogos (SRIJ), said Polymarket does not hold a licence to offer betting services in Portugal and is therefore operating illegally.

The enforcement step highlights how prediction markets are increasingly colliding with national gambling laws, particularly when political events drive rapid inflows of user activity and large volumes of capital.

A fast-growing prediction market meets strict local gambling rules

Polymarket is a prediction market that lets users bet on real-world events such as politics, sports, or other developments by buying shares tied to potential outcomes.

In Portugal, betting on political events and other real-world outcomes is illegal.

Under the country’s 2015 online gambling law, betting is permitted only on sports, casino games, and horse racing.

SRIJ said Polymarket is not authorised to offer betting services in Portugal and cannot legally operate political markets, whether they relate to domestic events or international developments.

The regulator’s 48-hour deadline and what could come next

The regulator’s decision was tied to the surge in election-related betting, with activity around the Portuguese presidential race drawing increased attention.

SRIJ formally ordered Polymarket to quit the country within 48 hours.

However, the platform remains accessible for now, though regulators may soon instruct internet service providers to block access.

Other prediction market platforms, including Kalshi, Myriad, and Limitless, also appear to be accessible in Portugal, even as authorities focus specifically on Polymarket’s licensing status and its political betting markets.

Election-related volume draws fresh scrutiny

The size of the wagering linked to the Jan. 18 vote has put the spotlight on how quickly liquidity can concentrate on political markets.

Rádio Renascença reported that bets exceeded 103 million euros ($120 million), underscoring the scale of the activity on Polymarket tied to Portugal’s presidential election.

Such volumes can draw regulator attention faster than smaller niche markets, especially in jurisdictions where political betting is explicitly restricted.

Polymarket faces bans in 30+ countries

Polymarket was founded in 2020 and has already faced restrictions in more than 30 countries, including Singapore, Russia, Belgium, Italy, and, more recently, Ukraine.

Regulatory approaches vary by jurisdiction. Some countries, such as Belgium, have blacklisted the website.

Others, including France, have limited access so that local users can enter the platform in a “view-only” mode rather than actively participate.

Portugal’s enforcement action adds to that growing list and shows how legal pressure on prediction markets can escalate quickly when platforms gain traction around elections.

The post Portugal orders Polymarket to shut down over election betting surge appeared first on CoinJournal.

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South Korea may target fairer crypto market with banking rule changes: report

  • The one-exchange-one-bank model is not a legal requirement but is widely followed.
  • A government study found the setup limits access for small crypto exchanges.
  • Large platforms dominate Korean won-based trading due to better liquidity.

South Korea’s top regulators are reportedly reviewing how local cryptocurrency exchanges work with banks, aiming to create a more balanced playing field.

The current system often links each crypto exchange to just one bank, limiting choice and creating high entry barriers for smaller firms.

Though this setup isn’t officially required by law, it has become widespread due to anti-money laundering and identity verification rules.

The Financial Services Commission and the Fair Trade Commission are now coordinating a review to see whether this long-standing practice is stifling competition and reinforcing the dominance of a few large exchanges.

Rules may favour bigger exchanges

Under the existing system, exchanges need to form exclusive partnerships with domestic banks to allow customers to deposit and withdraw Korean won.

Without that link, they can’t offer basic fiat services.

The model emerged in response to growing demands for transparency and risk control, but may now be working against smaller market participants.

A recent study commissioned by the government explored how current crypto regulations impact competition.

According to findings reported by local outlet Herald Economy, researchers concluded that the one-to-one exchange-bank setup makes it harder for newer or smaller exchanges to access banking services.

Even though it helps manage financial risks, applying the same strict standards across the board may be excessive when firms vary in size, volume, and risk profile.

The study also noted that most Korean won-based crypto trading happens on just a few large platforms, making the market highly concentrated.

Liquidity gap highlights entry barriers

The research pointed out that when a few platforms dominate trading volume, they benefit from deeper liquidity and faster transactions.

This creates a cycle where users are more likely to choose the bigger players, further limiting the reach of smaller exchanges.

As long as banking access remains difficult, that pattern is unlikely to change.

This concentration may make the market less dynamic, reduce innovation, and restrict consumer options.

As a result, the current setup could be reinforcing the position of already-powerful exchanges, rather than encouraging healthy competition.

Lawmakers delay key digital asset bill

The review of crypto-banking links comes alongside delays in broader legislative changes.

The Digital Asset Basic Act, which is expected to reshape the country’s crypto regulation, was initially scheduled for submission before the end of 2023.

However, on December 31, lawmakers pushed it back to 2026.

The bill proposes allowing the launch of stablecoins backed by the Korean won, as long as the issuing companies store their reserve assets with approved custodians such as banks.

The delay stems from disagreements over how to supervise stablecoin issuers and whether a new oversight body should pre-approve them.

The Financial Services Commission is also weighing how to allow both financial and non-financial firms to take part in this sector without compromising on safety.

The goal is to support innovation while maintaining strong regulatory safeguards.

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Solana risks plunge to under $120 as sellers dominate

  • Solana traded to lows of $128 as the price broke down from above $135.
  • The technical outlook suggests bears could eye a dip to $120 or lower.
  • Bitcoin’s trajectory will also dictate broader sentiment.

Solana (SOL) price declined by about 4% in the past 24 hours to trade below $130 as of writing on January 20, 2026.

The altcoin’s value slipped amid heightened selling pressure across the broader market, with corrections sending Bitcoin to around $90,600.

For Solana, derivatives metrics hint at a potential bearish tilt, with further downside action toward sub-$120 levels likely.

​Solana dips below $130

Top altcoins continue to see notable traction, as shown by the $1 billion real-world assets milestone for Solana.

However, while this points to long-term potential, in the short term, it appears bullish sentiment is waning.

Escalating global economic uncertainties and cryptocurrency sector volatility signal this outlook, with long liquidations in SOL derivatives surpassing $20 million in the past 24 hours.

The imbalance in liquidations, with longs comprising over 95% of total wipeouts, points to overcrowded bullish bets.

Notably, this shows how vulnerable bulls are to cascading sell-offs.

In this case, the aggressive unwinding by leveraged bulls has open interest in SOL futures contracting to roughly $8.2 billion amid diminished risk appetite.

​Meanwhile, funding rates hover at a mildly 0.0070%, but seller dominance has SOL prices down 8% this past week.

The monthly action has seen shorts shrink the altcoin’s value to just +2.4%.

A look at institutional flows does present a mixed picture. US spot Solana ETFs registered over $47 million in net inflows last week.

SoSoValue data shows that net inflows were up from about $41 million and $20 million over the previous two weeks.

However, spot-driven selling could erode this support, potentially triggering outflows.

​​SOL price forecast – Is $120 next?

As highlighted, Solana traded below the key support at $130, having slipped under the 20-day and 50-day exponential moving averages.

The EMAs are clustered at $137 and $159, respectively, hinting at a short-term bearish structure.

Charts also show the daily MACD line has crossed below its signal, with histogram bars expanding negatively.

Meanwhile, RSI hovers at 41 and is drifting toward oversold territory to suggest more room for downward momentum.

Solana Price Chart
Solana price chart by TradingView

​If support at $125-$126 fails, it will open a path for a revisit of the $120 mark.

Bears could target lows of $116 reached on December 18, 2025.

On the other hand, upside resistance looms at the $137 level, and notable supply zones also await around $145 and $160.

A decisive move in either direction will be key to bears or bulls. Market sentiment will also hinge on Bitcoin’s trajectory, with fresh tumbles amplifying SOL’s downside vulnerability.

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