Schlagwort: crypto business

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Ethereum whales scooped 3.5 million ETH in 30 days: Santiment

Ethereum whales with 1 million or more of Ether in their wallets added 3.5 million tokens, or over $4.5 billion worth of ETH in 30 days.

Santiment, a market intelligence firm covering on-chain and social metrics for over 2,500 cryptocurrencies, says more whales have bought Ether, the native token on the Ethereum blockchain.

As CoinJournal recently highlighted, Ethereum is one of top 3 coins popular with whales, and indeed, large whales accumulating ETH has pushed the total holdings by such addresses to an all-time high above 28.5 million ETH.

Billionaire whales scoop $4.5 billion worth of ETH from weak hands

According to Santiment data, Ethereum billionaire addresses that hold at least 1 million ETH have continued to accumulate Ether despite the bear market.

In the 30 days since around 11 September this year, the number of whales with 1 million or more of Ether has grown to 132 addresses. 

On-chain data shows the accumulation began just before the Ethereum merge, and has continued throughout September, and first half of October, with 14% more Ether added by these top holders to account for over $4.5 billion worth of ETH scooped from weak hands.

In its latest analytics outlook, the platform points out ETH held by billionaire addresses has reached an all-time high of 28.55 million ETH-  well over $36 billion as per the latest Ethereum price of $1,287 per token.

Elsewhere on-chain data shows Ethereum’s active addresses count has hit its lowest level in 4 months. Santiment says the trend has held with post-merge price stagnation a factor.

Ethereum has been bound below $1,400 since mid-September when it dropped from highs of $1,470.

The post Ethereum whales scooped 3.5 million ETH in 30 days: Santiment appeared first on CoinJournal.

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Binance BNB steady above $266 – A quick technical outlook

Binance (BNB/USD) buyers continue to defend $266. The level has become a crucial zone, as the cryptocurrency has formed multiple bottoms. That gives buyers a real chance to thwart bear interest and move the cryptocurrency higher.

The stability of BNB comes when crypto exchange-related tokens are going south. As of press time, the FTX token trades at merely $22, nearly the lowest price of $21 in the year. Similarly, the Cypto.com token is trading near its yearly lows. BNB trades at $272, up from its yearly lows of $184, cementing the status as a stable exchange-linked coin.

Of course, Binance ranks as the largest crypto exchange, and it is easy to see why. In September, the crypto exchange saw increased trading volumes despite cryptocurrency prices falling sharply. The rise in volumes followed the exchanges’ move to remove trading fees on popular crypto pairs. 

With the stability of Binance, bulls have been relentless as the token hit $266. A technical outlook shows that $300 remains a realistic target if the bear market does not worsen further.

BNB holds $266 support intact amid a bear market

Source – TradingView

Technically, BNB remains stable at or slightly above $266 support. However, the RSI reading is below the midpoint suggesting that bears have the upper hand. Should sentiment remain, bulls could push the price back to the $300 resistance.

On the flip side, a further bear market could allow bears to push the price lower to $244.

Concluding thoughts

On a balance of probabilities, a bull case is stronger for BNB based on the stability of the price at support. Bears are also active, giving a potential consolidation scenario for BNB at or around $266. BNB buyers can take a chance at the current level but monitor price action and sentiment since a lower price is still possible.

Where to buy BNB

eToro

eToro is a global social investment brokerage company which offers over 75 cryptocurrencies to invest in. It offers crypto trading commission-free and users on the platform have the option to manually invest or socially invest. eToro even has a unique CopyTrader system which allows users to automatically copy the trades of popular investors.

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Capital.com

Capital.com is a global broker which offers over 200 cryptocurrencies for its users. It comes with a range of features such as; great security, 24/7 support, demo accounts and a wide variety of assets. On top of that, it also has no inactivity, withdrawal or deposit fees, which makes it stand out from other crypto brands.

Buy BNB with Capital.com today

The post Binance BNB steady above $266 – A quick technical outlook appeared first on CoinJournal.

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Uniswap bullish pressure remains. Here is the key target for buyers

Uniswap (UNI/USD) forays into Web3 seem to be hitting the right buttons. A week since CoinJournal reported a $165 million funding for DeFi, the native token has been bullish.

CoinMarketCap shows that the Uniswap token has gained more than 11% in the past week. It is down by an intraday of 2% after a slight market correction. The gains are the second highest among cryptocurrencies in the top twenty. UNI could remain in a bullish market amid building momentum and reawakened interest.

Uniswap is not the only blockchain to make inroads into the nascent DeFi sector. However, the latest funding, led by Polychain Capital, shed a message that it wasn’t messing around. The $165 million deal is one of the largest in the DeFi Space. It also occurs when cryptocurrencies are under intense pressure. Crypto analysts have lauded the move saying it is proof of the growing interest in the DeFi domain by investors. 

Uniswaps Labs’ founder has described the funding as a validation for DeFi projects. He says he sees immense value in the sector amid the bear market. The investment raises optimism about crypto infrastructure amid the collapse of firms like Voyager.

Binance’s latest move has also given validation for Uniswap. On October 18, the crypto exchange delegated 13.2 million tokens of Uniswap. That allows Binance to become the second-largest on Uniswap DAO by voting power. Binance’s move adds trust in Uniswap as a protocol expected to grow and return massively to investors.

UNI initiates a bullish MACD crossover as price surges

Source – TradingView

A bullish MACD crossover on the daily chart is validation for bulls on Uniswap. The technical outlook is convincing, considering that the cryptocurrency has overcome a drop below $5.6. The MACD indicator also shows that momentum is starting to build for UNI.

What next for the Uniswap token?

Although UNI faces some resistance at $6.8, we remain optimistic that the cryptocurrency could go higher. Our area of interest lies at $8.38 and potentially higher at $9.2. Beyond the target price will depend on the prevailing crypto sentiment.

Where to buy UNI

eToro

eToro is a global social investment brokerage company which offers over 75 cryptocurrencies to invest in. It offers crypto trading commission-free and users on the platform have the option to manually invest or socially invest. eToro even has a unique CopyTrader system which allows users to automatically copy the trades of popular investors.

Buy UNI with eToro today

Capital.com

Capital.com is a global broker which offers over 200 cryptocurrencies for its users. It comes with a range of features such as; great security, 24/7 support, demo accounts and a wide variety of assets. On top of that, it also has no inactivity, withdrawal or deposit fees, which makes it stand out from other crypto brands.

Buy UNI with Capital.com today

The post Uniswap bullish pressure remains. Here is the key target for buyers appeared first on CoinJournal.

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European digital bank N26 launches crypto trading service

EU-licensed N26 will launch its N26 Crypto in the next few weeks, with the service first available to customers in Austria. 

N26, Europe’s first regulated mobile bank, is looking to curve off a chunk of the crypto trading market by launching its own service, amid growing demand from clients. 

According to a CNBC report on Thursday, the German-based digital bank will debut its cryptocurrency trading service N26 Crypto in Austria, before expanding the service to customers across the continent and other regions.

N26 Crypto to offer up to 194 tokens

As reported, N26 Crypto will go live over the next few weeks, offering access to 100 tokens. Customer will be able to buy Bitcoin and Ethereum among other top cryptocurrencies, the bank revealed.

Once the initial rollout is completed, the N26 team will seek to increase the trading service’s reach, with the target being 194 tokens accessible across multiple countries in the next six months.

N26’s entry into the crypto trading space will see it join several other financial service providers already allowing customers to buy and sell crypto through their accounts. Rivals such as PayPal and Revolut already offer these options to their customers, as do payment giants Visa and Mastercard.

According to Gilles BianRosa, chief product officer at the German-based digital bank, the creation of N26 Crypto was informed by the extremely high interest in crypto from its customers. The demand has remained high despite the bear market, BianRosa noted.

N26 Crypto will be powered by Peter Thiel-backed crypto broker Bitpanda. Incidentally, N26 also counts Thiel as one of its most prominent investors.

The post European digital bank N26 launches crypto trading service appeared first on CoinJournal.

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Polkadot price prediction: should you buy the DOT dip?

Polkadot price has been in a strong sell-off in the past few months amid a prolonged cryptocurrency sell-off. DOT plunged to a low of $6.1, which is slightly above this week’s low of $5.69. It has surged by more than 88% from its highest level in 2021. As a result, the total market cap has dropped to about $6.9 billion.

What drove the Polkadot price lower?

Polkadot is a unique blockchain project that was created by Gavin Wood, a computer programmer who was a co-founder of Ethereum. 

It is a unique one compared to other projects like Solana, Ethereum, and Cardano. It focuses on parachains, which are sovereign applications that are supposed to work with each other.

The core of the Polkadot network is known as the Relay Chain. It is described as the nucleus of the network and is responsible for securing, governing, and connecting the parachains. According to how it is developed, the Relay Chain can support between 100 and 250 parachains.

Recently, however, a closer look at the parachains show that they have been having a challenging period. The most troubled one was Acala, one of the biggest challenges in the world. 

Earlier this year, Acala USD (aUSD), which powers the network lost its peg. It is now trading at $0.7, which is much lower than where it should be at $1. As a result, Acala Network’s total value locked (TVL) has crashed to $47 million from its all-time high of $113 million.

Other parachains like MoonBeam, MoonRiver, and Karura have all stumbled. For example, Karura’s TVL has crashed to $14.6 million while MoonRiver has dropped to $110 million.

However, there are some emerging Polkadot platforms. For example, Phala Network coin has jumped by more than 200% in the past 7 days. Others like Energy Web Token (EWT), and Ankr have done well recently.

Polkadot technical analysis prediction

The daily chart shows that the DOT price has been in a strong bearish trend in the past few months. It dropped below the important support level at $10.33, which was the lowest level on July 2021. The coin has moved below all moving averages while the Relative Strength Index (RSI) has moved below the neutral level of 50.

DOT is sitting at the lowest level this year. Therefore, the outlook for the coin is neutral. A drop below the support at $5.70 will signal that bears have prevailed and will see it continue falling. A move above the resistance level at $7 will signal that bulls have returned, which will see it rise to $8.

How to buy Polkadot?

eToro

eToro is a global social investment brokerage company which offers over 75 cryptocurrencies to invest in. It offers crypto trading commission-free and users on the platform have the option to manually invest or socially invest. eToro even has a unique CopyTrader system which allows users to automatically copy the trades of popular investors.

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Capital.com

Capital.com is a global broker which offers over 200 cryptocurrencies for its users. It comes with a range of features such as; great security, 24/7 support, demo accounts and a wide variety of assets. On top of that, it also has no inactivity, withdrawal or deposit fees, which makes it stand out from other crypto brands.

Buy DOT with Capital.com today

The post Polkadot price prediction: should you buy the DOT dip? appeared first on CoinJournal.