StreamCoin Starts Off Registration for STRMNFT. STRMNFT is a digital asset marketplace that aims to revolutionize Video NFTs. CEO Michael Ein Chaybeh and the team are thrilled about the developments. Blockchain company StreamCoin has officially announced the start of registrations for its much-awaited STRMNFT marketplace. This is the newest in the company’s long list of achievements including listing its token on over 100+ exchanges. Launched on May 31, 2022, the STRMNFT marketplace boasts a user-friendly interface that has been designed keeping in mind users new to the crypto space. Michael Ein Chaybeh, StreamCoin’s CEO, remarked on this choice by saying: “As per our approach towards developing an ecosystem from user to tech, we designed STRMNFT to be an easy-to-use marketplace and an open space for all types of users. With our platforms and services, we aim to draw the line between the crypto enthusiasts and the modern Web 2.0 users who have not experienced blockchain or crypto before.” The STRMNFT team also adds that as a preliminary offer, STRMNFT features a free digital asset minting until July 2022. StreamCoin encourages all users to grab the chance and register on STRMNFT for free. According to the information shared with CoinQuora, the StreamCoin team is also conscious of the environmental impacts of their technology. Staying true to their eco-friendly vision, they leverage the Proof of Deed (PoD) approach to save power and resources. Addressing the energy concern of blockchain tech, Chaybeh was quoted saying: “As we observe how the planet is being consumed every day by operating high-capacity servers, power-consuming blockchain networks, and other high carbon-emission platforms, we came up with a new, responsible, eco-friendly solution that doesn’t compromise the speed and efficiency, and at the same time, contributes to a better future for our planet.” On a lighter note, the StreamCoin team was excited to share more details of the exciting features they have to offer. Through STRMNFT, users can follow their favorite content creators, create playlists for the video NFTs, and also sort the content based on categories. Users will even have their own personal channel with options to make their content available for public or private views. Following the STRMNFT launch, TNC Group, one of StreamCoin’s leading partners and investors, released an exclusive Lady Apes NFT collection. TNC Group states that they will be offering discounts on these collections to all who participated in StreamCoin’s ICO and staking portal.
NFTs are known for their transferability and commercial viability, but there are also downsides to those features, according to Buterin.
Bitcoin has been on a continued downfall after losing close to 33% over the last seven days. In the last 24 hours, BTC lost close to 6% and was moving towards its next support level. There has been immense choppiness in the market, with BTC steadying around the support level of $23,000 and then falling right through that level again. Bitcoin again bounced off the $20,000 price level as it was trading slightly above that level at the time of writing. Fall from the current price level can push the coin towards the $17,000 support mark. Traditional financial markets also have suffered the brunt after the US Federal Reserve decided to hike up interest rates by at least 50-basis points. Sellers have taken over the market as the bears have driven all the buyers out of the market at the time of writing. Bitcoin Price Analysis: One Day Chart BTC was priced at $21,000 on the one day chart. BTC last traded at this price level in the month of December of 2020. It has been a consistent fall for BTC after the coin lost support at $28,000. Immediate resistance level for the coin stood at $22,000. The support zone was between $19,000 and $16,000 respectively. Consistent sell off can push BTC to $13,000 going by the massive bearish momentum the coin has gathered. Volume of Bitcoin traded increased and was in red signifying bearish assertion in the market. Technical Analysis Buying strength plummeted sharply on the one day chart. The cryptocurrency was massively undervalued at the time of writing. The Relative Strength Index was beneath the 20-mark which is a sign of bearishness. RSI pointed towards seller strength in the market. A price reversal usually occurs after an intense sell-off. The other indicators however hint that bearishness might continue over the immediate trading sessions. Price of BTC was below the 20-SMA which signalled that sellers were driving the price momentum in the market. In accordance to increased selling strength, other indicators have painted the same picture on the one day chart. Awesome Oscillator determines the price momentum and possible trend reversals too. AO flashed red histograms which were tied to a sell signal in the market. Parabolic SAR points towards the direction in which the price is moving. Dotted lines above the candlesticks indicate that price of the asset was on a downtrend. This meant bearishness for the coin. If the buying strength comes back to the market, BTC might attempt to trade near the $22,000 price level. Related Reading | TA: Bitcoin Shows Signs of Recovery, $23K Presents Resistance What Does The Metric Say About Investors? Realised Profits of Bitcoin have seemed to depreciate owing to the extended bloodbath in the market. Realised profits is the total amount of profits which have been made with each completed trade. A fall in realised profits could cause retail investors to withdraw their investments. With increased outflows, it is possible that investors might lose confidence and withdraw their investments. Related Reading | Bitcoin Crash Sends Institutional Investors Running For The Hills