Schlagwort: crypto business

Veröffentlicht am

Chainlink price: Analyst painst bullish picture as LINK spikes above $7.00

Chainlink (LINK) price rose sharply on Thursday to break above $7.20 as the crypto market rode positive momentum across risk assets.

At the time of writng, LINK/USD was trading near $7.17 with weekly gains now up to 5% and 30-day upside now at 10%.

Chainlink price prediction

LINK/USD, according to crypto analyst Ali Martinez, can continue higher over the short term if bulls hold prices above recent support levels around $6.90.

The analyst has looked at the Into The Block’s In/Out of the Money Around Price (IOMAP) model to suggest its possible for LINK to go to $10.00. The on-chain metric shows massive support at the zone just below $7.00. He tweeted:

“Transaction history shows that #Chainlink formed a significant demand wall at $6.70, where over 7,000 addresses bought nearly 301 million $LINK. If this support level holds, #LINK has a good chance of surging to $10 as @intotheblock ‘s IOMAP shows little to no resistance ahead.”

Gains across crypto

The gains for LINK/USD come amid huge moves for Bitcoin (BTC) and Ethereum (ETH), the two top cryptocurrencies ripping past $24,000 and $1,700 respectively.

Notably, BTC was stuck below $22k on Wednesday before crossing above the resistance zone following the US Federal Reserve’s raising of interest rates by 0.75%.

On Thursday, the US entered a technical recession following the second consecutive negative gross domestic product (GDP) growth – coming in at -0.9%.

The post Chainlink price: Analyst painst bullish picture as LINK spikes above $7.00 appeared first on CoinJournal.

Veröffentlicht am

Artozo NFT marketplace invites premiere artist submissions ahead of beta launch

Artozo, an NFT marketplace that seeks to make the collection of NFTs fun and rewarding, – particularly for artists, has formally commenced registration of works from top NFT artists.

Artozo is for high-quality NFTs

While numerous NFT marketplaces available in the ecosystem make it easy for anyone to participate and benefit from the opportunity that comes with digital assets, Artozo wants to not only make it rewarding, but also secure.

One of the many problems that blight the NFT industry is unauthorised access, use and sell of other users’ works and holdings.

Registration, which involves vetting of works, is one step towards removing this nuisance. The goal is not to provide access to huge NFT collections, but a carefully vetted, high-quality and limited edition collection of digital art.

Application and verification is easy and takes anywhere from 24 to 72 hours and notifications on successful submissions will roll out before the beta launch.

An NFT marketplace for artists and collectors

Artozo, which expects to go live in Beta this August, is powered by Solana and promises to offer the scalability and transaction security underpinned on the leading NFTs blockchain.

On the Artozo marketplace, artists will benefit from minting fees that go as low as $2, with no up-front or service fee requirements. The fees are payable via the native Artozo token ARTZ.

There’s also enhanced community demand, given the utility of NFTs and access to powerful user retention mechanisms. Significantly attractive is also the potential to earn great, lifetime royalties (up to 9%).

The NFT marketplace’s model also allows for rewards via invite to earn functionality, digital art trading of NFTs and will soon offer staking. 

Artozo has built-in tools that help bridge Web2 and Web3, including wallet connectivity – a feature that makes it easy for anyone to buy, sell and trade NFTs. According to the platform, these features benefit both artists and collectors.

The post Artozo NFT marketplace invites premiere artist submissions ahead of beta launch appeared first on CoinJournal.

Veröffentlicht am

Don’t miss out on BNB as the journey to above $300 remains on course

  • Binance token rose 6% after the Fed’s policy decision

  • BNB remains on an uptrend despite the recent knocks in crypto

  • BNB could face resistance at $288 but remains on course to hit $327

BNB trades at $267 as of press time. That was after catapulting by more than 6% after the Fed hiked rates by less than expected level. While we consider the gains widespread across the sector, BNB could be an exception. 

As the markets cooled down ahead of the Fed decision, BNB held important support of $257. Later, the token surged higher above the support, maintaining a clear uptrend. The uptrend could be of interest to bulls who have been looking to take the token higher. 

BNB trades higher as bullish momentum strengths above $257 support

Source – TradingView

On the technical outlook, BNB is trading on a system of higher highs and higher lows. The cryptocurrency has been trading on the same uptrend, which started in mid-June. The token has maintained above the 14-day and 21-day moving averages. The MACD indicator is also bullish on the cryptocurrency.

At the current level, BNB has set $257 as the reference support, with the next level at $288. As the crypto sentiment improves, BNB will likely hit the $288 resistance in a few days. That would set it on course to reach $326 in the next few weeks if it clears the $288 level. 

Concluding thoughts

BNB maintains an uptrend after the Fed’s rate hike. The token has held an important $257 support. The improved crypto sentiment is positive for Binance as trade volumes on the exchange grow. We feel BNB will rise to $327 as the bullish momentum remains strong. The token will find resistance at $288. The token is a buy for both the short and medium-term.

The post Don’t miss out on BNB as the journey to above $300 remains on course appeared first on CoinJournal.

Veröffentlicht am

Ethereum Classic shoots 22% after Fed decision – Will we see more upsurge?

  • Ethereum Classic token rose 22% after a Fed rate hike

  • Investors see ETC benefiting from Ethereum shift to Proof-of-Stake

  • ETC has met resistance, but bullish momentum is strong

Ethereum Classic ETC/USD is one of the top gainer coins on Thursday. The token added more than 22% in 24 hours after the Federal Reserve hiked the interest rate by 75%. The gains were across the crypto sector, with the mother Ethereum token gaining by 11%. 

The gains in ETC and other cryptocurrencies reflected a softer stance by the Fed. Markets feared a 100-basis point hike. A lower hike was welcome, adding a bullish impetus that saw tokens such as ETC gain.

The above-market gains in Ethereum Classic could also be a result of another development. On July 27, news emerged that AntPool had invested $10 million in the cryptocurrency. AntPool already ranks as the third largest BTC mining pool. 

Investors such as AntPool see Ethereum Classic benefiting immensely once Ethereum shifts to PoS. Once the merge is complete, PoW mining on Ethereum will become redundant. That will allow miners to migrate to PoW chains such as Ethereum Classic.

Ethereum meets resistance after a 24-hour surge.

Source – TradingView

Technically, Ethereum Classic has met resistance at $34.5 after robust 24-hour gains. However, the crypto sentiment and token fundamentals remain strong. We believe ETC will continue gaining as Ethereum merges approaches. However, the resistance could send the price lower in a market correction. 

Investors should consider a potential retracement of ETC as an opportunity to buy. The token could slide back towards the $26 support. The token’s next resistance is at $46.

Summary

Ethereum Classic is bullish after the Fed’s rate hike. An expected boom after the Ethereum upgrade is boosting the Ethereum Classic token. Investors should buy the dip since ETC has hit a resistance.

The post Ethereum Classic shoots 22% after Fed decision – Will we see more upsurge? appeared first on CoinJournal.

Veröffentlicht am

Okcoin’s institutional investor activity spiked 125% in Q2

  • Okcoin’s institutional clientele increased by 13% in Q2 and by 28% over the first half of 2022.

  • Stablecoins (USDT and USDC) have been very popular buys for institutions in 2022 compared to the last bear market.

  • Institutional activity on Okcoin jumped 125% in Q2 from Q1, with Bitcoin still seeing the majority of trading activity at 40%.

Okcoin has announced that institutional activity on its trading platform grew 125% from Q1 to Q2 in 2022, reflecting a more than 2x increase for the fourth-consecutive quarter.

The surge in institutional investor trading volumes come as the US-based cryptocurrency’s clientele in this category increased by 13% over the quarter. 

Overall, Okcoin saw its institutional clientele accounts grow by 28% in the first six months of the year, the platform said in a press release published on Thursday.

Institutional investors buy more despite crypto winter

Institutional clients on the exchange include legacy financial trading firms, asset managers, prime brokers, venture funds and hedge funds, among other large-cap customers. Trading activity amongst these groups has been on the up despite the crypto winter.

“Despite the market downturn, institutional activity on Okcoin continues to reflect increasing crypto interest and greater sector maturity,” the firm’s COO Jason Lau said in a comment.

According to Lau, institutional client activity in 2022 is markedly different from what was observed in the last bear market.

“Whereas in 2018 we saw institutions liquidate their crypto holdings in response to the bear market, nearly all of our clients are seeking greater exposure this time around and taking a longer term view.”

As well as being more active in this bear market, institutional investors have also veered from largely buying Bitcoin (BTC), to considering top altcoins and stablecoins. Among these, Ethereum (ETH) has featured highly, and so have two of the leading stablecoins – USDT and USDC.

According to Okcoin, USDT and USDC purchases on the exchange in Q2 jumped 116% and 47% respectively from numbers recorded in Q1. However, Bitcoin still saw the most activity in the first half of 2022 compared to stablecoins, with BTC purchases on Okcoin accounting for 40% of trades compared to 33% for stablecoins.

Okcoin is one of the earliest cryptocurrency exchanges – it launched in 2013 – and it offers over 50 digital assets. Its services are accessible in 190 countries.

The post Okcoin’s institutional investor activity spiked 125% in Q2 appeared first on CoinJournal.