Crypto News Ethereum

TA: Ethereum Holds Strong At $2.5K: Indicators Show Fresh Increase

Ethereum is holding the $2,500 support zone against the US Dollar. ETH price could rise towards the $2,750 level unless there is a move below $2,450. Ethereum managed to stay above the $2,480 and $2,500 support levels. The price is still trading below $2,550 and the 100 hourly simple moving average. There is a key bullish trend line forming with support near $2,500 on the hourly chart of ETH/USD (data feed via Kraken). The pair could start a decent increase if there is a clear move above $2,550 and $2,600. Ethereum Price Holds Support Ethereum attempted an upside break above the $2,640 and $2,650 resistance levels. ETH struggled to clear the $2,650 zone and started a downside correction. There was a break below the $2,500 support zone and the 100 hourly simple moving average. Ether price even declined below the 23.6% Fib retracement level of the upward move from the $2,316 swing low to $2,639 high. However, the bulls are now protecting the $2,500 support level. Besides, there is a key bullish trend line forming with support near $2,500 on the hourly chart of ETH/USD. It is consolidating, but it is still trading below $2,550 and the 100 hourly simple moving average. An immediate resistance on the upside is near the $2,540 level and the 100 hourly simple moving average. The first major resistance is near the $2,560 level. A clear move above the $2,560 resistance might start a steady increase. In the stated case, the pair could even surpass the $2,600 level. Source: ETHUSD on TradingView.com The next key hurdle could be $2,650, above which the bulls are likely to aim a larger increase towards the $2,750 and $2,800 levels. Fresh Decline in ETH? If ethereum fails to start a fresh increase above the $2,550 level, it could extend losses. An initial support on the downside is near the $2,500 level. The first key support is now forming near the $2,450 level. It is near the 50% Fib retracement level of the upward move from the $2,316 swing low to $2,639 high. If there is a downside break below the $2,450 level, the price could accelerate lower. Technical Indicators Hourly MACD – The MACD for ETH/USD is gaining pace in the bullish zone. Hourly RSI – The RSI for ETH/USD is now just below the 50 level. Major Support Level – $2,450 Major Resistance Level – $2,550

Bitcoin

Redefining Startup Funding With Revenue Coin (RVC)

The crypto space is heavily skewed towards investing more than anything else. This is evident in the fact that crypto investors will jump on opportunities to invest in the next big crypto project. However, these investors are still mostly limited to crypto companies when investing, leading to missed opportunities in startups in other industries. Revenue […]

Crypto News

Chrono.Tech Raises $30M to Develop HR-Focused Blockchain Products

Australian startup Chrono.Tech raised over $30 million in the latest investment round, as stated in the company’s official press release. Chrono.Tech, the oldest Australian blockchain company specializing in innovative technological solutions for the human resources sector, has completed a $30 million funding round led by Australian venture-capital investor Mark Carnegie and a major European Family Office. The company founded by Sergei Sergienko in 2016 has a lineup of five employment-oriented services and products, such as job search, workforce management and crypto payroll services, helping significantly simplify the recruitment and payment processes for both workers and employers. LaborX — one of Chrono.Tech’s famous products on the blockchain — helps freelancers find jobs and get paid in cryptocurrencies. The platform’s user base reportedly grew by over 42,000 freelancers and almost 5,000 customers amidst the surge of global user interest in digital currencies. Mark Carnegie, a multi-millionaire venture capitalist and founder of MH Carnegie & Co, noted Sergienko’s experience in the digital asset market, stated when speaking about the participation in the funding round of Chrono.Tech: “Crypto assets can be highly complex and obscure, and operate on a very different paradigm to the centralized financial sector — not least in terms of secure storage. Sergei has a strong network in the crypto community and extensive experience in identifying crypto initiatives that provide an excellent balance of risk and return, making him a natural addition to the team.” It’s not the first association of Carnegie with the company. Last year, he co-founded Sergienko’s Crypto Gaming United, an innovative decentralized gaming platform based on the Play-to-Earn model that raised $5 million in a funding round. In an interview with NewsBTC, Sergienko said: “We are thrilled to get this round of investment, it’s truly a validation of our unshaken belief that the future is in work on the blockchain, where everyone gets paid exactly what they deserve.” He added that the participation of such big industry players as those from the European sector and Mark Carnegie in Chrono.Tech’s investment round means validation from the mainstream financial world of the work his team has been doing for the past five years.   Image source: Chrono.Tech (Sergei Sergienko, founder and CEO of Chrono.tech)

Crypto News

What Can Crypto Do for the World?

When Bitcoin was first launched in 2009, nobody knew of the dramatic impact that cryptocurrencies would have on our world. Today, blockchain technology is being used everywhere, pioneering a technological revolution worldwide. The decentralized nature of crypto has awoken people to the potential of its powers. Without banks or intermediaries of any kind, crypto enables people to send payments, make investments, and purchase certain goods and services without limits. Additionally, NFTs, DAOs, and DeFi allow for the self-management of ownership rights, operations, and financial services, respectively possible. Beyond technological applications, people have found that crypto can be used to do real good, both for the planet and humanity as a whole. In a project called the “Cardano Forest”, Veritree, a restoration group that uses blockchain to track and verify restorative projects, planted over 1 million trees across different parts of Madagascar, Indonesia, Nepal, Kenya, Senegal, and Haiti. The operation was funded through the philanthropic Cardano holders, with some donations weighing in at tens of thousands of ADA tokens. Blockchain is perfect for project tracking and verification thanks to its immutable and transparent nature – transparency makes data stored publicly verifiable, and immutability makes said data tamper-proof. These aspects also make blockchain ideal for the management of digital asset ownership, allowing the efficient on-chain issuance and trading of shares and bonds. Bob Eco Ltd, an environmentally-focused electric vehicle company that provides electric two- and three-wheelers in developing countries. Bob Eco is pioneering the digital asset space by raising funds through something it calls an “ICOWA”, or “ICO with Assets”. ICOs, or Initial Coin Offerings, are fundraising events during which cryptocurrency projects sell utility tokens to early investors in order to raise capital. In an ICOWA, digital asset tokens, not utility tokens, are sold. Bob makes a difference by providing electric motorcycles and electric three-wheelers in Africa. Bob Eco offers there on a lease-to-own basis,  which are custom-built to taxi passengers and deliver food, parcels and agricultural products. Bob also offers a swap-as-you-go service that lets Bob riders swap their motorcycles batteries for free; this saves the riders around $4.40 on fuel a day, making them earn almost four times as much as traditional petrol motorcycle taxis. Bob motorcycles are the world’s first mass-market electric vehicles that cost less to acquire, maintain, and operate than a fuel vehicle. With African fuel motorcycle taxis emitting around 5 tons of carbon dioxide (CO2) every year, Africa’s estimated 100 million motorcycle taxis emit a whopping 500 million tons of CO2 emissions annually. Bob’s goal is to see all motorcycle taxis to be electric within the next 10 years, aiding both riders and the world.

Altcoins Blockchain

One Gaming Altcoin Has Bright Future Ahead of It, According to Coin Bureau – Here’s Why

The pseudonymous host of the crypto channel Coin Bureau is giving a long-term bullish forecast for an Ethereum-based gaming token. In a new video, the analyst known as Guy says he’s closely watching Enjin Coin (ENJ), an interconnected, blockchain-based gaming platform that possesses smart-contract capabilities. Guy highlights ENJ’s wide token distribution, which he says makes […]

The post One Gaming Altcoin Has Bright Future Ahead of It, According to Coin Bureau – Here’s Why appeared first on The Daily Hodl.

Bitcoin Crypto News

Crypto Winter: An Investor’s Big Fear…

It’s been a challenging few months for crypto investors since Bitcoin fell from its all time high of 69k; on top of that, many coins have followed in BTC’s price action footsteps. The entire crypto market has shed more than $1 trillion in value since, and many experts believe more is to come and that this will not be the last of the wave; many people scramble to get a grasp onfwhat’s to come and if we will fall into another dreaded crypto winter. Related Reading | Downward DOGE: Descending Dogecoin Pattern Predicts Deadly Drop Cold World For Crypto… The entire crypto market has lost roughly $1 trillion in value since November, around the time of bitcoin’s all-time high, and other tokens such as ether and solana followed the number one digital currency to trade sharply lower. Ethereum has more than halved in value since reaching its peak in November, while Solana has suffered an even steeper decline, falling 65 percent. Back in 2018, bitcoin went through what many now refer to as ‘crypto winter,’ which saw witness to an 80 percent drop in bitcoin; could this be another case of the current price action BTC: Bitcoin fighting to break 40k after hitting all time high in November 2021. | BTC:USDtradingview.com David Marcus, the former head of crypto at Facebook (now Meta), appeared to suggest that he believes a crypto winter has already arrived. In a tweet earlier this week, he said: “It’s during crypto winters that the best entrepreneurs build the better companies. This is the time again to focus on solving real problems vs. pumping tokens.” Nadya Ivanova, chief operating officer at the BNP Paribas had an opposing thought on a crypto winter, stating that “over the last year — especially with all the hype in this market — a lot of developers seem to have been distracted by the easy gains from speculation in NFTs (non-fungible tokens) and other digital assets. A cooling off period might actually be an opportunity to start building the fundamentals of the market,” Ivanova told CNBC’s “Squawk Box Europe.” Hopes Of A Better Day… Many coins are suffer the same fate as equities as large suffer, most notably the stock market; many investors are faced with fears of hard federal regulations and interest rate adjustments that might hurt more that help if you came up big this last year. The U.S. central bank is considering making such moves in response to surging inflation, and some analysts say it could result in the end of the era of ultra-cheap money and sky-high valuations — especially in high-growth sectors like tech, which benefit from lower rates since companies often borrow funds to invest in their business. Vijay Ayyar, vice president of corporate development and international at crypto exchange Luno, thinks the recent slump in crypto is more of a “correction” than a sustained downturn. He also stated that looking ahead, a key level to watch for bitcoin is $30,000. If it closes below that point in a week or more, “that would definitely indicate high likelihood of a bear market,” he said. A decline of around 80 percent from bitcoin’s recent peak would indicate a price of less than $15,000. Ayyar doesn’t think such a scenario is on the table. Related Reading | Tesla Report Shows Bitcoin Holdings Remain Unchanged At $1.2 Billion

Crypto News

Breaking: ADAX’s DEX has Just Launched on Cardano

ADAX v1 is now live on Cardano. It now forms part of the network’s burgeoning DeFi ecosystem less than five months after the activation of smart contracting in late September 2021. ADAX Launches an Order Book DEX on Cardano Details on January 30 reveal that ADAX is a “core piece of infrastructure that’s critical to the long-term prosperity of the Cardano ecosystem.” The ramp introduces new features that stand out from other live and upcoming DEXes. ADAX is a custodial and order-book-based decentralized exchange designed to fit into Cardano’s unique architecture. The DEX incorporates smart contracts built using Plutus for decentralization and to ensure instant and smooth transactions for all users. The DEX’s codes are secure, deriving its security from the developing team’s expertise and the decentralization of Cardano. The network is the most decentralized Proof-of-Stake consensus algorithm blockchain comprising over 3.3k staking pools. This follows the activation of the Shelley Phase in 2020, allowing the creation of staking pools following months of testing. Cardano DeFi is Growing Currently, Cardano has a total value locked of over $70 million and comes a few days after the deployment of a competing DEX, SundaeSwap. At this level, Cardano trails other networks that have been in operation for years. The most dominant network for deploying DeFi dApps is Ethereum. It commands over $109 billion in total value locked, where Uniswap is one of the largest DEXes by assets under management. ADAX aims to follow Uniswap’s and PancakeSwap’s lead to be a go-to platform in Cardano, set apart by its feature offering. Addressing Concurrency and Congestion At the same time, ADAX will facilitate trading on-chain with measures to contain high congestions experienced in late January 2022. Transaction delays coincided with the launch of the first intensive DeFi dApp. Moreover, the ramp adds technical capabilities to avert concurrency issues common in the UTXO accounting system in Cardano. While concurrency may or may not increase performance, throughput, or responsiveness, the frequency of concurrency may introduce limitations on the number of operations that can be simultaneously performed. Concurrency can happen in Cardano because it is designed differently from the rest, like Ethereum. The pioneer smart contracting platform uses an accounting model with a mixer where transaction confirmation is not deterministic but depends on Gas a trader is willing to pay. Expanding Partnerships The ADAX graphics team also spent weeks designing a fitting user interface that’s intuitive and easier to navigate. This helps speed up DeFi adoption since complex user interfaces and operations in DeFi often keep out interested users. ADAX also supports the Nami browser wallet. It is one of the most actively used browser wallets for accessing the growing Cardano ecosystem. It is a multicurrency and multisig hot wallet that allows users to securely store and transfer various native tokens, delegate to stake pools, and execute other operations. There are plans to integrate more wallets like CCVault and GeroWallet. At the same time, they have expanded their partnerships to include Charlie3–an oracle prover, World Mobile–a solution offering blockchain-based telecommunication infrastructure, and VyFinance–a yield auto-harvester in Cardano. The objective of collaborating with others is to create a cyclic ecosystem enhancing user experience and helping grow Cardano DeFi.

Crypto News

Bitcoin Price Prediction: Analyst Lowers The Forecast

It’s always a great time to be alive when you’re predicting the future of bitcoin. Panelists from various industries and fields have revised their predictions with us again, but they still think this cryptocurrency will hit new highs by 2022. Cryptocurrencies are not for the faint-hearted, but experts believe that record highs await us in 2022. Bitcoin has seen a significant drop in value this week, with prices currently sitting at around 50% of their all-time high. However, it has recovered slightly after reaching as low as $33K on Monday morning and is worth about $37K. Related Post | Bitcoin Recovers From Seven Month Low Of $33K Analysts are split on whether or when to buy, sell and hold cryptocurrency. However, more than half believe this is a good time for buyers, with only 45% disagreeing. It is interesting to see how different groups respond when given an investment opportunity. In this case, 29% of those surveyed said they should neither buy nor sell, while 10% thought investors should sell.  Bitcoin Price Predictions By the end of 2022, experts from the top 33 fintech predict that the bitcoin price will reach an all-time high. The prediction is $93 717 – more than $20,000 higher than its current all-time high in November. The panel predicts that by the end of 2025, bitcoin will trade on $192,800 and mount to $406,400 by 2030. While these predictions may seem lofty goals at first glance- they’re significantly less than what experts predicted back in July 2021 when their last forecast said bitcoin price could reach $265k and $706K, respectively. Fred Schebesta, co-founder of Finder.com, said; “Cryptocurrencies are proving to be a staple competitor to the traditional financial infrastructure of the world, and many projects are now well beyond the theoretical realm of potential value.” Another statement by Dr. Iwa Salami, an associate professor in law at the University of East London, explain;  “Increased interest from retail and institutional investors cannot be overlooked, and yes, while there are still huge regulatory gaps, the potential of this emerging industry to transform business and finance and to facilitate financial inclusion mustn’t be overlooked or undermined.” According to other survey respondents, the latest bear market may not yet be over, with economic uncertainty looming as an additional threat to the industry. Lee Smales, an associate professor at the University of Western Australia, added; “Bitcoin seems to be bracing for a large fall. We might be witnessing the end of one era and the beginning of another. A ‘double top’ seems to have formed, with prices giving up all their gains from last year; however, I wouldn’t put money into this until there are more useful/efficient alternatives available because nothing lasts forever.” Featured image from Pixabay, chart from TradingView.com