Crypto News

Despite Bear Market Uniswap Gains Significant Traction, What’s The Reality?

The past few weeks have brought a positive twist in the flow of events within the cryptocurrency market, especially for Uniswap. Lots of the crypto assets are gaining more value in their prices. This overturns after the severe crypto winter that puts lots of protocol at the edge. Most witnessed drastic price drops up to 50% since January 2022. The last chaos in the crypto space was better imagined than described. Additionally, the collapse of the algorithmic Terra stablecoin and its native token, LUNA, spiked the downward trend. Several investors lost millions of dollars, creating tension in the entire crypto industry. Some crypto service companies were thrown off balance as they struggled to be their ship afloat. Related Reading: This On-Chain Indicator Suggests Bitcoin Still Only 1/3rd Into Bear Market However, a few of them still went bankrupt with most of their depositors’ funds locked on their platforms. Some participants in the industry are beginning to lose confidence in digital assets as fear, uncertainty, and doubt gradually crept in. All seems to be going progressively well for Uniswap, as its native token, UNI, increases its price value. The strength of its price increase has put Uniswap in ranking by market cap among the top 15 cryptocurrencies. In addition, the Ethereum-based decentralized protocol has experienced a significant surge in value, reaching 150% over the past seven weeks. According to data from Santiment, an on-chain analytics firm, there has been an increased and substantial whale accumulation of the UNI tokens. This explains its recent price rally as well as the surging address activity. Santiment reported that the Uniswap daily active addresses have risen to over 1,100. With the presence of strong address activity on the network, the protocol has the potential to sustain the current price action. Uniswap Whale Addresses Push Positive Moves Uniswap whale addresses have shown a positive move since the crypto crash of May 2022. The addresses have accumulated vast amounts of UNI tokens ranging in massive percentages. In their performance, whale addresses containing up to 100 thousand to 1 million UNI tokens have undergone massive accumulation within the past two weeks. Also, Santiment noted that the level of transactions they deem to be prominent are those taking about $100,000 or more. It mentioned that such transactions are from the whales and moving back to those seen in May levels. Related Reading: Low Caps Like Uniglo (GLO) And Convex Finance (CVX) Likely To Make New Millionaires Alongside Bitcoin (BTC) So, it stated that all the recent significant transactions from the whales are noticeable. This is because such moves accumulated just in the past week before the price climbed to $9.69. Besides its price rally, Uniswap has increased its active average trader returns. It currently recorded over 22.5% in its 30-day MVRV. According to the report from Santiment, the current value is clearly above the danger zone. Despite Uniswap’s impressive price rally, Santiment has advised investors to tread with caution with the protocol. Featured image from Pexels, charts from TradingView.com

Crypto News

TA – Apecoin Price Rallies Ahead Of The $10 Mark

The price of Apecoin (APE) shows strength after bouncing from a weekly low of $3.10 against Tether (USDT). APE price has seen a relief bounce, with Bitcoin (BTC) rallying from a daily low of $19100 to a region of $23,000. (Data feeds from Binance) Related Reading: Are Higher Lows A Sign of a Growing Bitcoin Bull Run? Price Analysis Of APE On The Weekly Chart From the chart, the price of APE saw a weekly low of around $3.10, which has formed support. The price has built more momentum as it faces resistance at $10. With a break above the $10 mark, the price of APE would rally to $12. If the price of APE on the weekly chart fails to break the $10 mark, then a retest is bound at $6.7. The volume shows decent buy bids, pushing the price of APE higher. Weekly resistance for APE price – $10. Weekly support for APE price – $6.7.   Price Analysis Of APE On The Daily (1D) Chart The price of APE found strong support at around $3.4, with what seems to be the bottom on the daily chart. APE has continued to rally above this support region of $3.4 to a high of $7.7, where it has faced resistance. At the point of writing, the price of APE is at $7.4, trading above the 50 exponential moving averages (EMA), which corresponds to the support at $6.2.  APE price would find support at $6.2, which corresponds with the daily 50 EMA if it drops due to weekend sell-offs. If the 50 EMA region fails to hold the price, $5.2 would be a good support to hold sell-offs and for a possible bounce of APE price. With more buy bids, we could see the price of APE retesting at $10, which has been resistance on the daily chart. The RSI for APE price on the daily chart is above 65, indicating healthy buy bids for APE. The volume also indicates positive signs for APE prices to trend higher. Daily (1D) resistance for APE price – $7.7, $10. Daily (1D) support for Apecoin (APE) price – $6.2, $5.2. Price Analysis Of Apecoin On The Four Hourly (4H) Chart The price of APE has shown great strength on the 4H chart after forming support at $4.22.  APE price has rallied from this region, forming a bullish uptrend channel on the 4H chart. The price of APE was rejected at $9.10, which saw sell-offs. APE price is $7.4, trading above the 50 & 200 EMA with prices of $7 and $6.1 on the 4H chart. These prices would act as support areas for APE on the 4H chart. The price of APE has formed an upward trendline after rallying from a low of $6.50.   Four Hourly (4H) resistance for APE price – $8, $10. Four hourly (4h) support for APE price – $7, $6.1. Related Reading: Polkadot Sets Sight On $9 As It Claims The 10th Spot On Crypto Top 10 Featured image from NFT News Pro, Charts from TradingView.com

Crypto News

TA – Polkadot Price Shows Strength, Eyes $10

The price of Polkadot (DOT) shows strength after bouncing from key support on the weekly chart against Tether (USDT). After Bitcoin (BTC) bounced from its monthly low of $19,000, this signaled a relief for other crypto altcoins including the price of Polkadot. (Data feeds from Binance) Related Reading: SOL Loses $40 After The Exploit – What’s The Next Support? Price Analysis Of Polkadot On The Weekly (1W) Chart   From the chart, the price of DOT saw a weekly low of around $6.50, where it has formed support. The price has built more momentum as it faces resistance at $10. A break above the $10 mark, the price of DOT would rally to $12. If the price of DOT on the weekly chart fails to break the $10 mark, then a retest is bound at $8.62. The weekly relative strength index for DOT price is 36, indicating more buy bids after bottoming out on the weekly low. The volume shows decent buy bids, which will push the price of DOT higher. Weekly resistance for DOT price – $10. Weekly support for DOT price – $6.50.   Price Analysis Of Polkadot On The Daily (1D) Chart The price of DOT found strong support at around $6.50, with what seems to be the bottom on the daily chart. DOT has continued to rally above this support region of $6.50 to a high of $9, where it has faced resistance. DOT’s price is at $8.40 at the point of writing; it is trading above the 50 & 200 exponential moving averages (EMA) The 50 & 200 EMA with prices of $8.20 and $8 would act as support respectively for DOT price in case it drops due to weekend sell-offs. If the 50 & 200 EMA region fails to hold the price, $7.92 would be a good support to hold sell-offs and a possible bounce of DOT price. With more buy bids, we could see the price of DOT retesting at $9.18, which has been resistance on the daily chart. RSI for DOT price on the daily chart is above 60, indicating healthy buy bids for DOT. Volume on the daily timeframe indicates positive signs for DOT prices to trend higher. Daily (1D) resistance for DOT price – $9.18, $10. Daily (1D) support for DOT price – $7.92, $7.55, $7.20. Price Analysis Of Polkadot On The Four Hourly (4H) Chart DOT has shown great strength on the 4H chart after bouncing off from its support. After rejection in the price of DOT at $9.10, the price dropped to the 50 EMA mark at $7.95 which has formed good support in case of a sell-off in DOT price. DOT  is trading at $8.47 above the 50 & 200 EMA on the 4H chart, haven rallied from a low of $6.50. The price has formed a trendline acting as a resistance for DOT price, this would be invalidated only if the price breaks below the trendline. Four Hourly (4H) resistance for DOT price – $9.10, $10. Four hourly (4h) support for DOT price – $7.95, $7.67 Related Reading: TA: Bitcoin Price Could Narrowly Avoid a Major Downtrend, Here’s How Featured image from zipmex, Charts from TradingView.com 

Crypto News

MyCointainer Review – How to Make the Most of the Platform to Earn Great Crypto Rewards

In the year of the global recession that influenced the crypto market as well, it’s important to choose a platform that provides you with different options to earn rewards. You must have heard a lot about crypto staking and how popular it is these days, but it is crucial these days not to limit yourself to a single way to earn crypto coins. In this review, we’ll be going over a MyCointainer platform offering a variety of tools for crypto traders, investors, and stakers. Operating since November 2018 and currently with over 150 coins on offer and good functionality organized in a simple and beginner-friendly platform, MyCointainer seems like a decent competitor of some of the best-known crypto exchanges. But is MyCointainer legit at all? How do we know? The platform has recently renewed its license by the Estonian Financial Intelligence Unit to support a safe and transparent community for crypto trading. MyCointainer crypto platform – stay calm and watch your portfolio grow MyCointainer reviews a popular view that earning crypto is limited to a group of insiders who “know”. The platform was created to help beginners who want to invest in crypto earn great profit. And this crypto provider truly walks the talk – no need to spend hours to figure out how to stake tokens on the platform, you’ll be guided through a quite transparent process to get to your rewards. Staking has never seemed easier to me. At first, it was so simple that I even had doubts if I did everything right. I just deposited cash from my bank account and bought the crypto I wanted. Boom, that’s it! Nothing else needed. Now when it’s been 6 weeks since I did it, I can see the profit generated in the wallet over time, and I’m just amazed how effortless it was – no lockups or extra steps – keeping crypto in the MyCointainer digital wallet is enough to get rewards. Isn’t it the best place to stake crypto so effortlessly? In addition to regular online staking, MyCointainer supports cold staking with 20 coins available so far, including CTSI, MATIC, AVAX and NEBL. Cold staking is as straightforward as online staking but definitely requires some extra steps. First of all, you need to purchase a hardware wallet to store your crypto coins. There’s a lot of information out there about storage units, but you will most likely choose one of the two brands – Ledger and Trezor that are two leaders on the market. Then you will delegate your coins to MyCointainer crypto platform to earn extra rewards. The cool thing about cold staking with this platform is that you don’t need to freeze your coins, and they stay in your wallet, so it’s a far more secure way to earn crypto by keeping it away from hackers. MyCointainer app – a great alternative to the desktop version. Buy and sell crypto anytime, anywhere If you’re a digital nomad and are used to making decisions on the go, there’s a MyCointainer mobile app for both iOS and Android so that you could stake, exchange your coins and get access to your wallet no matter where you currently are. With the mobile app, you get access to the most important features: Your wallet with the overview of the coins you bought. Also, if you click on a particular coin, you can track all the rewards generated and even the reward fees that are charged. You get updates daily which is a lovely opportunity to have when the value of crypto coins changes every day. Features like Staking, Exchange and Airdrops. The app provides you with 150+ crypto assets to buy, stake and exchange. No need to wait till you’re back at the computer again. Also, the air drops available on MyCointainer are often time-sensitive (even though the tasks take up to 10 minutes), so it’s great to be able to participate on your phone when you’re standing in the line or waiting for your friend in the coffee shop. On the Home page, at the top of the screen you can swipe to read the News about the latest integrations, releases, etc. For example, recently MyCointainer integrated with Fireblocks wallet to provide its users with a powerful payment system with a high security level. The app is as safe as the platform – the access is protected by 2FA Authentication and you can additionally add Biometric Authentication. MyCointainer add-ons – what else does the platform have to offer? MyCointainer strives to become a universal community where anything is possible for anyone and there are multiple opportunities to make more coins. Below are several steps their team has taken towards providing their users with more crypto goodies: EarnBack extension for cashback in crypto. You can make good money out of crypto cashback by installing the extension. Shop in online stores like AliExpress, eBay, iHerb, book your next room on Booking.com and get up to 40% cashback. Airdrops & Giveaways. Earn crypto with 0 investment by taking part in various airdrops. Normally, a task takes up to 10 minutes to perform, and you’re good to go and win some crypto. Referral program. Share a referral link with your friend for you both to win a 15 EUR staking token each. In H2 2022 MyCointainer also plans to launch its native coin to support the platform, and we’re looking forward to seeing it grow. Overall, MyCointainer is a great no-frill resource for crypto beginners who are looking to both learn and earn cryptocurrency. With a long list of supported coins, mobile apps and continuous growth in terms of tools and integrations, it’s very promising and might soon be called the best crypto discovery of the year.

Bitcoin Crypto News Ethereum

Bitcoin Makes Surprise Climb As Fed Discloses 0.75 Point Rate Bump

Bitcoin and the rest of the crypto market have been in a festive mood in response to the U.S. Federal Reserve’s interest rate hike, sending  both Bitcoin and Ethereum climbing in prices. The Fed’s announcement has sent Bitcoin’s price up by 5%. As of this writing, Bitcoin is trading at $22,837, up 7 percent in the last 24 hours. More so, Ethereum’s price also spiked by 11.6%; hitting $1,550, data from Coingecko show, Thursday. In fact, the entire crypto market is on a positive outlook with the total crypto market cap at $1 trillion. Bitcoin was down the past week with its price plunging below $21,000. But, with Fed’s latest 0.75% rate bump, the BTC price has skyrocketed once again. Fed Battling Inflation With Interest Rate Hikes The Federal Reserve attempts to buffer inflation with a 0.75% rate increase. The central bank’s move on the rate hike is said to be in the country’s best interest especially since the U.S. Bureau of Labor Statistics recently broke it to the public that the Consumer Price Index or inflation rate is at 9.1% in June, a 40-year high. The Fed’s continuing rate hikes have sent the negative message that the country could be in danger of a recession. It triggered a domino effect. Following the Fed’s rate hike, the U.S. interest rates have also spiked at a range of 2.25% and 2.5% which is at extreme levels since the COVID-19 pandemic started. The U.S. central bank has recently revealed this development at the Federal Open Market Committee held Wednesday. Related Reading | BNB Basks In The Green As Price Glows 5.84% In Fields Of Red Survey: 96% Of Americans Worried About Inflation The Fed has been trying to put a rein on the high prices with an increase in interest rates for the longest time. U.S. Bureau of Labor Statistics disclosed that the biggest factors adding up to the inflation rate are shelter, gasoline, and food price hikes. Reportedly, a CNBC poll revealed that around 96% of Americans have been particularly worried or concerned lately regarding the gas, shelter, and food price increase.   Image: Beinchain To beat inflation, the Fed has the option to constrict the supply of money. So, it resorts to bumping the interest rates which in effect, makes loans expensive. The 0.75% rate hike was expected although it was earlier ruminated that the central bank may go for a 1% rate hike when inflation mellowed in June. Related Reading | GNOX Set To Overtake APE, MATIC As Token’s Price Continues Ascent The recurring high prices and interest rate hikes have fueled fear in citizens as the danger of a recession continues to escalate. It has heightened levels of uncertainty in global markets especially because a recession would most likely happen following two straight quarterly GDP drops. The GDP as presented by the Bureau of Economic Analysis has shown that the economy has dwindled by 1.6% as shown in the first financial quarter and economists are concerned that a decline is possible too for the second quarter. GDP Q2 numbers will be announced tomorrow. And the White House has already prepared the public for this important announcement with an interview transcript and blog post by Janet Yellen, the Treasury Secretary who has set the records straight that two consecutive quarters is not indicative of a recession. More so, U.S. President Biden made an assurance of sorts that the country is not going to face a recession. Crypto total market cap at $1.02 trillion on the daily chart | Source: TradingView.com Featured image from Euronews, chart from TradingView.com

Crypto News

Crypto Market Shaves Off $50 Billion In One Day As Reversal Begins

The crypto market has now seen more than $50 billion lost in a one-day period as the market lost its recovery streak. This had been expected for the market due to the large recoveries recorded in a short period of time. This has brought down the crypto total market to an important level. Crypto Market Drops Below $1 Trillion Bitcoin and Ethereum’s remarkable recoveries last week had done enough to push the whole of the market upward. As a result, the crypt market quickly added more than $100 billion during this time. It had pushed the total market cap above $1 trillion once more, too much jubilation among crypto investors. Related Reading | Ethereum Weekly Exchange Net Flow Points To Growing Accumulation Trend However, this recovery would prove to only be short-lived given that the crashes had been as swift. In the span of one day, the crypto market had lost more than $50 billion following the dips and has now lost its hold on the $1 trillion market cap. Presently, the total crypto market cap is sitting at $944 billion, more than a $100 billion loss from where it was sitting last week. The loss pattern over the last few days is now seeing cryptocurrencies in the space testing an important support level and mostly failing to hold. Bitcoin has since lost its footing at $22,000 and is now trading at low $21,000s, while Ethereum has declined to the $1,400 territory. This has dragged down their market caps to $402 billion and $171 billion, respectively. Market Sentiment Takes A Dive As the crypto market had recovered, the market sentiment quickly climbed. For the first time in two months, investor sentiment had successfully made it out of the extreme fear territory to be sitting in fear. With the continuation of the recovery, the sentiment score had increased to close at a new two-month high of 30 last week. Related Reading | More Than 57,000 Traders Liquidated As Bitcoin Declines Below $22,000 The sentiment had consistently been up for the last couple of days until Monday, when the prices had begun to fall. The dip in sentiment saw the Fear & Greed Index return a score of 26 for the last day, signifying that investors are once again becoming wary of the market. While the bearish trend is not completely established yet, it is gradually becoming the norm over this time. Following historical trends, there will be recoveries and pullbacks, which will see the market establish lower highs and lower lows. Featured image from CNBC, chart from TradingView.com Follow Best Owie on Twitter for market insights, updates, and the occasional funny tweet…