Schlagwort: crypto business

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Crypto Price Prediction: ThorChain (RUNE), Flare, Tron

  • Cryptocurrencies jumped on Wednesday after Grayscale’s victory.

  • They then recoiled on Thursday after the SEC delayed its decision on ETFs.

Cryptocurrencies had a mixed week after Grayscale scored a major victory against the Securities and Exchange Commission (SEC). That verdict led to a major rebound of most cryptocurrencies like Bitcoin and Litecoin. 

The gains were short-lived after the SEC decided to delay its decision on several ETF proposals by companies like Blackrock, Invesco, and WisdomTree. This artcle looks at some of the top coins to watch this weekend, including Flare, Tron, and ThorChain (RUNE).

Flare price prediction

Flare price has moved sideways in the past few weeks. On the four-hour chart, we see that the coin has formed an ascending channel shown in black. This channel has seen it rise from a low of $0.012 on August 18th to the current $0.018. 

Flare is consolidating at the 50-period and 25-period  moving averages. It has also moved back to the lower side of the ascending channel. At the same time, the Relative Strength Index (RSI) and the Stochastic Oscillator (SO) have drifted upwards.

The outlook for the FLR token is mildly bullish as buyers target the upper side of the channel at $0.014. The alternative scenario is where the token makes a bearish breakout and retests the support at $0.012.

Tron price prediction

Tron price has been in a tight range in the past few days. It was trading at $0.076, where it has been since mid-August. The coin is consolidating at the 50-day moving average. 

On the daily chart, the coin has formed an ascending channel shown in black. The lower side of the channel connected the lowest levels since January 6th. At the same time, the price is at the Woodie pivot point while the Stochastic Oscillator has moved below 80.

Therefore, Tron price will likely remain in this range during the weekend. The key support and resistance levels to watch will be at $0.070 and $0.08.

ThorChain price prediction

ThorChain price has been one of the best-performing cryptocurrencies since June. The token surged from a low of $0.77 in June to a high of $1.93 in August. On the daily chart, the token has Jumped above the 50-day and 25-day moving averages.

The Stochastic Oscillator has moved below the neutral level of 40 while the Relative Strength Index (RSI) has formed a bearish divergence pattern. ThorChain seems to be forming a double-top pattern, meaning that the price could retest the upper side at $1.93.

The post Crypto Price Prediction: ThorChain (RUNE), Flare, Tron appeared first on CoinJournal.

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Maker (MKR) gains amid 2-month whale accumulation

  • Maker price jumped Thursday, hitting intraday highs above $1,186.
  • MKR was paring some of the gains as crypto slumped, with prices around $1,141 at the time of writing.
  • Data showed whales have been busy since early July, accumulating over 61.5k MKR.

Maker (MKR) price has witnessed an impressive upside over the past 24 hours, breaking above a price level that had constrained bulls since the broader market downturn in mid-August. 

MKR pushed to highs of $1,186 before it began to pare the gains as sellers swooped in amid profit taking deals.

Why is Maker price up?

On-chain data shows accumulation for Maker has been on the rise since early July. Santiment analysts are saying the two-month accumulation that saw whales and sharks buy more than $70 million worth of the cryptocurrency could provide the impetus bulls need to target new highs in September.

Per the platform, holders with 10k-100k MKR tokens added 61,500 of the governance token to their positions since July 9, 2023. The cohort held between $11.6k and $11.6 million worth of Maker’s token as price crossed the $1,160 level. 

What does this accumulation mean for Maker price? Further buy-side pressure could catapult bulls beyond $1,200, bringing the YTD highs around $1,350 into play in the short term. The flip side is added profit taking.

“Their holdings will continue to correlate with future price movement,” analysts at the market intelligence platform noted in a post shared on X.

Other catalysts of MKR price

As CoinJournal highlighted today in a MKR price analysis piece, Maker’s push into South Korea appears to be one of the catalysts for upward move. This came even as the crypto market retreated after this week’s Grayscale-fueled spike.

Notably, the SEC is 2-0 down after the July 13 Ripple victory and the latest court ruling that the regulator acted “arbitrarily and capriciously” when rejecting Grayscale’s ETF application. Binning SEC’s order adds to the likelihood of a spot ETF finally coming to the US market. Bitcoin and altcoins are poised, with MKR firmly in the picture.

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US Bitcoin Corp announces a deal with Celsius Network

  • USBTC to host 8,500 miners belonging to Celsius at its Alpha Site.
  • Hashrate of these machines is estimated to be 820 petahash (PH).
  • Us Bitcoin Corp expects to be managing over 310,000 miners in total.

US Bitcoin Corp is in focus today after the mining company announced a deal with the bankrupt cryptocurrency platform Celsius Network.

USBTC is a part of Fahrenheit consortium

The data centre operator said in a press release this morning that it will host 8,500 miners belonging to the now defunct crypto lender at its Alpha Site.

Note that USBTC is a member of the Fahrenheit consortium that took over Celsius assets in May. According to Asher Genoot – the President of US Bitcoin Corp:

Opportunity to manage Celsius assets marked a defining milestone … We envision a future where Bitcoin mining is not just profitable but sustainable and industry advancing.

At the time, the said assets which included more than 120,000 miners were valued at about $2.0 billion (find out more).

USBTC to manage more than 310,000 miners

Hashrate of the machines that US Bitcoin Corp plans on hosting at its Alpha Site is estimated to be 820 petahash (PH). Genoot also said in the press release today:

We’re embarking on a new chapter. The synergy between USBTC, Celsius, and Fahrenheit represents our commitment to redefining the mining industry.

USBTC now expects to be managing over 310,000 miners in total including its own machines as well as those of clients like Marathon Digital, Sphere 3D, Teslawatt, Foundry USA, and Decimal Group.

The news arrives only days after Hut 8 Mining issued an update on its in-process merger with Hut 8 Mining.

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Binance unveils ColLabs, an invite-only Web3 investment community

  • Binance Labs, the venture capital and incubator arm crypto exchange Binance, announced ColLabs today.
  • The invite-only channel will bring together a Web3 investment and financing community for founders and investors.

Binance is stepping up its role as a leading player in the growth of Web3 by unveiling a new investment program aimed at builders, founders and investors in the sector.

A hub for Web3 venture community

On Thursday, Binance’s venture capital and incubator arm announced the launch of ColLabs, a Web3 investment and financing community that will be invite-only. Apart from bringing founders, builders and investors together and fostering connections, ColLabs is aimed at becoming the knowledge exchange hub for the Web3 venture capital community.

“The community is designed to facilitate the sharing of insights and investment opportunities sourced from the Binance Labs team and our portfolio companies,” the team at Binance’s VC arm noted.

With ColLabs members will be able to unlock exclusive content, select curricula from Binance Labs’ incubation programs and access deal-sourcing opportunities. The program will be the members’ gateway to VCs and institutional investors, the platform noted.

The community will also include a blog, a newsletter, and a Telegram channel – also invite-only.

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Maker (MKR) price soars amid South Korea expansion push

  • Maker price rally continued on Friday as cryptocurrencies recoiled.

  • The coin reacted to Maker’s push in South Korea.

Maker (MKR) price rally continued as investors watched the expansion of the network in South Korea, one of the biggest players in the crypto industry. The MKR token jumped to a high of $1,150 on Thursday, the highest level since August 16th. It has soared by more than 17% from the lowest level in August.

The main catalyst for the MKR price rally is the developer’s push into South Korea. In a statement on August 29th, the developers said that they were keen to introduce SubDAO in the country. The SubDAO Genesis event will take place on September 3rd in South Korea.

A subDAO is an approach that enhances governance in a blockchain platform. It has an independent foundation and ownership structure but is then tied to the parent DAO inits mission. The goal is to boost more decentralization in the ecosystem.

As part of its South Korean push, Marker is also co-sponsoring EthconKorea, a major event happening in Seoul. 

Maker price is also jumping as demand for Spark Protocol continues. Data compiled by Defi Llama shows that the DeFi protocol has seen its TVL jump to over $681 million in the past few months. Its highest TVL was $700 million.

Investors are attracted to Spark Protocol because of its substantially higher yields compared to its rivals. This also explains why the Dai market cap has been rising recently.

Maker price prediction

The 4H chart shows that the MKR price has been in a steady upward trend in the past few days. In this period, the coin has managed to move above the important resistance level at $1,121, the highest point on August 22nd. The coin has jumped above the 25-period and 50-day moving averages.

Maker price has also jumped above the Ichimoku cloud indicator. Therefore, the outlook for the con is bullish, with the next level to watch being at $1,200. The stop-loss of this trade will be at $1,100.

How to buy Maker

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Binance

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