Schlagwort: crypto business

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Is the Ethereum Classic’s bull run over, or do buyers have a chance?

  • Ethereum Classic gains are cooling but maintain double-digit surges in the week.

  • Ethereum Classic has been benefiting from the expected Ethereum shift to PoS.

  • ETC may correct further, but momentum is still strong for buyers.

Ethereum Classic ETC/USD is up 12.70% in the past week. However, the token has been weakening. ETC was trading at $41.27 as of press time, below its previous top above $45. The decline elicits questions on whether the recently bullish momentum is now over.

Reflecting, Ethereum Classic gains have largely been attributed to the expected Ethereum merge. Ethereum Classic is a Proof-of-Work blockchain. Investors project that Ethereum’s move to PoS will allow miners to move to Ethereum Classic. The speculation has attracted some disagreements. Some analysts have warned Ethereum Classic carries limited applications. The migration of miners is also faulted and seen to cause negligible impacts.

It remains unclear how much Ethereum’s PoS shift will benefit Ethereum Classic. Nonetheless, the latter continues to enjoy positive publicity. 

Overbought Ethereum Classic slides after meeting resistance.

Source – TradingView

From the technical outlook, the Ethereum Classic token entered the overbought level at $45. There is no bear trigger for the cryptocurrency, which also remains supported by the moving averages. ETC has formed a double top at the $45 resistance and is sliding.

We consider the current slide as an action by traders to take profits after the latest gains. Further gains are possible after a correction. The next level to watch for the cryptocurrency is $34 and further down to $26. 

Summary

Ethereum Classic has been benefiting from the expected move of Ethereum to PoS. The cryptocurrency is sliding from an overbought region. Further retracements are possible if the cryptocurrency fails to break past $45. Watch for price action at $34 next.

The post Is the Ethereum Classic’s bull run over, or do buyers have a chance? appeared first on CoinJournal.

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Enjinstarter to sponsor Coinfest, flagship crypto festival in Asia

Enjinstarter, the next-gen blockchain gaming launchpad focused on growing the Enjin ecosystem and the metaverse, announced sponsorship of Coinfest Asia, the first-ever crypto, web3, blockchain, and NFT festival on the continent. It is taking place on August 25 and 26 in Bali, Indonesia. 

Uniting regulators, developers, industry leaders 

Coinfest Asia is taking place just weeks prior to the G20 summit in Bali with the theme of The Future. It will bring together entrepreneurs, regulators, developer communities, and industry leaders to share regional opportunities and global insights. 

Supported by Coindesk, CoinGecko, industry associations 

The event will be held at a casual beachside venue in Bali. It is hosted by Coinvestasi, the leading crypto medium in Indonesia.

It is officially supported by CoinGecko, Coindesk.com, the Indonesian Chamber of Commerce, and Singaporean and Indonesian blockchain associations.

A vast, untapped market 

Southeast Asia, in particular, is home to a vast, emerging crypto market that remains untapped. The mission of the organizers is to redefine the future of crypto, including Web3. 

To buy tickets, register online and follow on-screen instructions to complete the signup process. There are no travel restrictions or requirements for traveling to Bali at the moment. 

Web3 workshop to hone skills

There will also be a Web3 workshop presented by BlocksWellDone and Blockchain Talent ID. It aims to kickstart Web3 developers’ journey and help them improve their skills. 

Developers can submit their portfolios at the event’s official website. Thirty developers will win free tickets. 

Other event sponsors include Fireblocks, Pintu, 1inch Network, Asset Management Digital Group, Solana, Tezos, Coinstore, etc.

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Crypto.com signs pre-registration agreement with Canada’s OSC

Crypto.com has become the first global cryptocurrency exchange to sign the undertaking with the Ontario Securities Commission (OSC).

Crypto.com, one of the world’s leading crypto platforms, has signed a key agreement with Canadian securities watchdog the Ontario Securities Commission (OSC), according to details the platform shared on Tuesday.

The exchange, whose growth over the past two years has included major deals and partnerships, announced that it had secured a Pre-registration Undertaking with the OSC in Canada, a regulatory step recognised across the country via the Canadian Securities Administration (CSA). 

Crypto.com, the agreement with OSC makes the exchange the first global crypto platform in the country to operate within the parameters of such a regulatory undertaking.

Compliance is key

The terms of the pre-registration undertaking allows Crypto.com to work with the securities watchdog. Key from this is regulatory compliance, which means the exchange will offer its services and products to customers within the confines of Canadian regulations, the press release detailed.

Crypto.com CEO Kris Marszalek commented that the agreement with the Ontario securities regulator is part of the compliance efforts that “underscore” whatever the platform does. This latest chapter will help them better serve their North American customers.

“The North American market, and Canada specifically, represent a significant area of potential growth for the crypto market, and we are proud to work with the OSC and the CSA in providing Canadian customers access to a safe, secure, and reliable global platform,” Marszalek added.

The OSC agreement adds to several other regulatory footsteps Crypto.com has made in Canada. These include registration with the Financial Transactions and Reports Analysis Centre of Canada (FINTRAC) as well as Quebec’s Autorité des marchés financiers (AMF).

The announcement also adds to major regulatory scores Crypto.com has secured across the globe, including in Singapore, the UAE, South Korea, Greece, Italy and the Cayman Islands.

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Dogecoin price prediction as DOGE goes vertical

Dogecoin price went parabolic on Tuesday as optimism spread in the cryptocurrency industry. It jumped to a high of $0.090, which was the highest level since June 1st of this year. This price is about 78% above the lowest level this year. Its market cap has jumped to over $11.4 billion.

Why is DOGE rising?

Dogecoin is the biggest meme coin in the world. It is a cryptocurrency that aims to be a good alternative to Bitcoin, the biggest digital coin in the world.

Dogecoin price has staged a strong recovery in the past few weeks as investors cheer the improving sentiment in the market. This recovery is in line with the performance of other cryptocurrencies like BTC, ETH, and XRP.

First, it has risen because investors believe the worst has already happened in the cryptocurrency industry following the recent crash of Terra, Three Arrows, and Celsius. At the time, most analysts were expecting a major contagion to happen.

Second, Dogecoin price has also rallied because of the correlation between stocks and cryptocurrencies. Most American stocks have jumped sharply in the past few weeks. The Dow Jones, Nasdaq 100, and S&P 500 indices have jumped by more than 20% from their lowest levels this year. Historically, there is a correlation between stocks and digital coins.

Third, DOGE has also risen because of the ongoing enthusiasm about the upcoming Ethereum merge. This merge, which will combine the PoW version with the Beacon Chain, will make it significantly faster and more efficient. While the merge will not impact Dogecoin, the strong performance of ETH has had a contagion effect in the crypto industry.

Dogecoin price prediction

The four-hour chart shows that the DOGE price has been in a strong bullish trend in the past few days. It has even rallied in the past three straight days. And today, it managed to move above the important resistance point at $0.084, which was the highest point last week. 

Dogecoin price is above the 25-day and 50-day moving averages while the MACD has continued rising. Therefore, the coin will likely continue rising as bulls target the next psychological level of $0.10. A drop below the support level at $0.081 will invalidate the bullish view.

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CryptoPunk and Meebits holders get full commercialisation rights

Yuga Labs has finally released the much-awaited intellectual property (IP) licensing agreement for CryptoPunk and Meebits NFT collections.

Yuga Labs purchased the two NFT collections from Larva Labs in March. The move allows the NFTs holders to use their NFTs to create projects and products since although Yuga Labs owns the IP rights, it will now license these rights to the NFT holders.

Initially, the previous Meebits and CryptoPunk collection owners Larva Labs retained the intellectual property rights to the collections and the NFT holders could now use commercialize their NFTs. This had attracted a lot of criticism with one holder selling their CyptoPunk in protest.

Yuga Labs IP licensing agreement

The intellectual property licensing agreement released by Yuga Labs confers full commercialization rights to NFT holders allowing them to create commercial projects and products based on their NFT holdings. It puts Meebits and CryptoPunks holders on the same level as the Bored Ape Yacht Club (BAYC) NFT holders.

The Bored Ape Yacht Club’s holders did not have much of a problem since Yuga Labs naturally has IP licensing agreements for its NFT collections contrary to Larva Labs. As a matter of fact, some BAYC NFT holders like Seth Green and Andy Nguyen have already used the IP in projects.

Seth Green has launched a show based on the recently returned Ape that according to his words was “kidnapped” in March. Andy Nguyen, who on the other hand is a restaurateur, opened a Bored Ape-themed restaurant called “Bore & Hungry” in Los Angeles in June.

Issues around IP rights of NFT collections

NFT collection creators across the board have taken different approaches to how they hand IP rights.

A popular NFT brand Moonbirds, for example, was in the headlines earlier this month after it switched to a public domain usage model that allows anyone to commercially use and reproduce art from Moonbirds and Oddities collections. Following the decision, Moonbirds and Oddities NFT holders took to social media complaining that they had invested in the project believing that they had exclusive rights to the NFTs they had purchased.

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