The very thing suppressing bitcoin’s price in the short term is exactly what can make it so valuable in the long term.
FTX has announced that FTX Pay’s infrastructure has integrated with the social media and news aggregation forum Reddit’s Community Points system. The integration has been rolled out in the U.S., EU, Australia, and other countries worldwide. FTX Pay will also join Infura, P2P, Google Cloud, and other companies and projects in order to create a More
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MATIC price had been on a bearish trajectory for the past few days. Over the last week, the coin hasn’t made any progress in terms of price appreciation. In the last 24 hours however, MATIC registered a 2% increase in its market value. Currently Polygon MATIC price is slightly underneath the $1 price mark. Price of MATIC has been stuck below the $1 mark for months now, every time the bulls start to pick up momentum, the coin was met with selling pressure. For MATIC to invalidate the bearish thesis completely, it is important that the coin trades above the $1 mark for a considerable duration. Technical outlook for the coin has turned positive however, this positive reading could soon lose steam if buying strength doesn’t remain consistent over the next trading sessions. At the current moment, MATIC has registered increased number of buyers compared to sellers. MATIC price still has to encounter a tough resistance at the $1 mark. The coin hasn’t been able to break past that resistance for months now. A small decline in price would push MATIC price to $0.74 before another potential rally. MATIC Price Analysis: Four Hour Chart The price of the altcoin was $0.92 at the time of writing. MATIC price was trading close to its $1 price mark, the bulls tried to push price towards the $1 mark at the end of last month but it was invalidated by sellers in the market. A strong overhead resistance for MATIC was at $1. A fall from the present price level will drag the altcoin down to $0.73 and then eventually to $0.68. Amount of MATIC traded in the past session fell on the chart. This reading is tied to a fall in selling strength for the altcoin in the market. Technical Analysis Polygon’s MATIC price had registered a substantial recovery since the middle of last month. Despite the recovery, MATIC had visited the oversold territory once and had also registered increased number of sellers compared to buyers. At press time however, buying strength remained more than selling pressure. The Relative Strength Index was placed slightly above the half-line indicating bullishness as buyers exceeded sellers. MATIC price was above the 20-SMA line. Price of the altcoin also managed to move above the 50-SMA. Both these observations point towards buyers driving the price momentum in the market. Related Reading: Ethereum Crosses $1,700, But Could Return To Path Of Pain, Expert Says The altcoin has managed to paint mixed technical signals. MATIC captured sell signal on its four-hour chart. Moving Average Convergence Divergence depicts the price momentum and trend reversal. The indicator despite a minor price appreciation underwent a bearish crossover and flashed red signal bars. The red signal bars are an indication of sell signal on the chart. Chaikin Money Flow is responsible in determining capital inflows and outflows. CMF stood above the half-line, into the positive zone as the coin registered increased amount of capital inflows than outflows. For MATIC to soar past the $1, broader market strength and buying pressure will be required. Related Reading: Glassnode: Bitcoin Long-Term Holders Have Shifted To Distribution Recently Featured image from The Face and chart from TradingView.com
CryptoDickButts (CDB) floor price has skyrocketed with the overwhelming support from popular influencers. CDB soared on Sunday, outpacing other well-known NFT collectibles with significant volume. CDB was able to land the 6th spot for the largest daily trading volume for NFTs on OpenSea. As of this writing, CryptoDickbutts has soared by a whopping 690% or roughly 290 ETH equivalent to around $495,000 surpassing leading NFT projects such as Art Blocks, Cool Cats, and Goblintown. CDB’s trading volume has remarkably increased by over 135% in the last seven days. The CryptoDickbutts is the brainchild of famous comic book artist K.C.Green. Created in 2006, the Dickbutts has become very popular over the internet as a meme shared over varied social media platforms. Related Reading: Decentraland Blooms In Green In Last 4 Days; Boosts Traders’ Appetite In MANA CryptoDickbutts Soars Following 3.8 ETH Farokh Investment On CDB Dickbutts is a collection of over 161 NFTs which was hereinafter dubbed as the OG Collection rolled out in March 2021. This was then followed by a Series 3 composed of over 5,200 NFTs launched in August 2021. CryptoDickbutts NFT collection wowed everyone as its sales volume soared last week following the announcement of Farokh, Rug Radio host regarding his entry of 3.8 ETH or equivalent to roughly $12,000 into CDB. CryptoDickbutt is far from cheap as the most budget-friendly CDB NFT collectible you can find in Series 3 sells for about 3 ETH or roughly $5,100 as of press time, which has increased by over 31% overnight. This is remarkably the highest that CDB has ever reached which is up by 163% in the previous month. CDB Price Pump Triggered By Massive Influencer Support In terms of NFT Floor Price, CDB still has a long way to go as it’s currently at the 34th spot, but with CryptoDickbutt’s spike, investor interest and demand has been revived. The meme culture is definitely at its strongest point now, most especially for CDB. While other NFT projects seem to have dwindled in popularity, CryptoDickbutts has emerged stronger than ever. This NFT project is under the CryptoDickbutt DAO, including popular personalities like ProbCause, Blondish, and Steve Aoki. Related Reading: Dogecoin Unseated From No. 10 Spot In Rankings – Can DOGE Stay Relevant? The price pump for CryptoDickbutts is a surprise but somehow Meltem Demirors, Coinshares Chief Strategy Officer, may have something to do with it. Recently, Demiros started this so-called emergency Twitter Spaces on Sunday. Apparently, Demirors mentioned, “The Dickbutt community has always been about one thing and one thing only, and that is the universal truth of one D equals one B… I also think that commenting on prices defeats from the overall objective here. Dickbutts are not about investing. Dickbutts are a culture.” CDB started out as a joke but is now taken seriously by the NFT community. CDB was able to strike partnerships and collaborations with Silver Jets and Naughty America, among others. Crypto total market cap at $1.11 trillion on the daily chart | Source: TradingView.com Featured image from Blockhead, Chart from TradingView.com
As Bitcoin unlocks human potential in its various forms, artistic expression will experience a renaissance alongside other aspects of life.
Shark Tank investor Mark Cuban says Cardano (ADA) hasn’t yet proven itself as a viable crypto project compared to some of the other big names. In a new interview with Altcoin Daily, Cuban says if Charles Hoskinson was on Shark Tank, he would ask the Cardano founder where his revenues were. “I guess the people in […]
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THORWallet, a non-custodial wallet that allows users to swap native crypto-assets across chains and earn passive income on them, today announced a new partnership with multi-chain DEX, Rango Exchange. For the first time, THORWallet DEX users can now execute cross-chain swaps on assets beyond those available in THORChain pools, starting with cross-chain swaps compatible with […]
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Bitcoin has been holding steady over the weekend. The cryptocurrency had been able to beat the $24,000 mark last week but had retraced downward not long after. However, this retracement has not had too much of a negative impact on the sentiment toward the digital asset. As bitcoin has started upwards once more, the market sentiment has been incredibly strong. Bitcoin Goes For $24,000 The opening of the new week saw bitcoin start below $24,000 in the early hours of Monday. This quickly changed with a rally on a 6-hour basis that saw bitcoin add more than $500 to its value. This helped it reclaim this coveted point once more, putting it firmly above its 50-day moving average. Related Reading: Here’s What Bitcoin Institutional Inflows Says About The Month Of July Now, the 50-day MA has always been an important technical level for bitcoin. It was one indication of the crash that rocked the market two months ago and the bear market trend that ensured. Since the digital asset has now beat this point, it has now converted the bearish indicators to bullish ones. It has also resulted in a reversal of the selling pressure in the market. Now, as buy pressure mounts, the value of bitcoin is expected to grow. The recent recovery has now adequately moved the support level for bitcoin. The recent move shows that there is now significant support for BTC at $23,500, which served as a bounce-off point. Resistance for bitcoin now sits at $24,500, a level that bitcoin has been unable to beat since the crash. BTC price exceeds $24,000 | Source: BTCUSD on TradingView.com Sentiment Remains Positive Crypto market sentiment has not been the best in recent months, but there have been some remarkable recovery over this time. When the market crash happened back in June, sentiment had plunged far into the extreme fear territory, keeping investors from actually making any meaningful moves in the market. However, with the turn in the price of bitcoin, the market sentiment has begun to change. It had grown into the fear territory and is currently sitting at a score of 30 on the Fear & Greed Index. This shows steady sentiment in the market, which is starting to skew more into the positive. Related Reading: Bitcoin Funding Rates Turn Positive, Why The Rally May Not Be Over With this return of faith in the market has come more investments. Exchange outflows for last week show that investors are starting to accumulate the coin, especially among smaller investors, with the number of addresses holding at least 1 BTC reaching a new all-time high of 892,803 on Monday. The market sentiment still has a long way to go to move completely out of the fear territory. However, if bitcoin is able to make its mark and break through $25,000, sentiment is expected to turn bullish very quickly. Featured image from Coindesk, chart from TradingView.com Follow Best Owie on Twitter for market insights, updates, and the occasional funny tweet…
Dogecoin (DOGE) has been recently pushed aside by Polkadot (DOT) from the top cryptocurrencies list as it is now the 11th biggest crypto in terms of market cap. DOGE’s market value is currently at $9.28 billion after it sadly had to let go of its position which is now held by Polkadot with a market value of $9.62 billion. According to CoinMarketCap, the DOGE price is 1.09% down or at 0.06899 as of this writing. DOGE price remained the same despite the positive sentiment in the crypto space spiked by the support of Elon Musk, among other things. Michi Lumin, Developer of Dogecoin, has recently announced the release of a C library of DOGE building blocks coined as Libdogecoin. This library allows Dogecoin to integrate into different platforms. Related Reading: TRON (TRX) TVL Accelerates To Nearly $2 Billion Last Month Elon Musk Says DOGE Has Real Value In one of his appearances on the podcast “Full Send”, Elon Musk, billionaire entrepreneur and CEO of Tesla, once again pressed on with his unrelenting support for DOGE. “I’m mainly supporting Doge, frankly,” Musk said. Musk reiterated that Dogecoin isn’t just a dog meme coin; it is not a joke because it has real utility value. He also said that in comparison to Bitcoin, DOGE has a much bigger transaction volume. Since early August, the price of DOGE hasn’t moved significantly because it’s been hindered by $0.075. The crypto market seems to be in a coma as it is being bombed by a lot of macroeconomic problems. But, as other meme projects have no utility value and the token prices are mostly impacted by social media or a popularity vote from influencers and other celebrities, investors aren’t so sure if they should invest long-term in these dog meme coins. Dogecoin Lags Behind DOGE is lagging behind in terms of growth. At the beginning of July, the DOGE price is at $0.066. SHIB grew by 17% but DOGE price only registered a growth of 1.4%. DOGE token market cap only increased a bit from $8.77 billion to just $9.06 billion. On July 31, DOGE had 73,800 active addresses that grew by as much as 13% or around 105,000 addresses at one point on July 28. DOGE was able to close July with a plunge in transaction volume by 96% or 1.53 DOGE. The social dominance of DOGE increased by 8.49% after the price racked up to $0.75. DOGE price plunged by 61% as social dominance nosedived by 3.3%. DOGE’s social volume further declined by as much as 63%. Developmental transactions within the Dogecoin network grew by 80% despite the lack of ecosystem updates. Related Reading: Shiba Inu Displays Surprising Price Movement – Can SHIB Ditch The Flatline? DOGE total market cap at $9.24 billion on the daily chart | Source: TradingView.com Featured image from Zipmex, chart from TradingView.com
Every year a project comes along that redefines the crypto industry in multiple ways. This year, we have Tamadoge. It is a cryptocurrency of a […]
Zcash (ZEC) Price Prediction – August 7Over time, it has now been that the Zcash market gathers catalysts to surge higher, trading against the worth […]
Crypto trading company, BitMEX has unveiled its FX swap contracts for retail and corporate investors. The trading platform confirmed the move in a blog post. […]
Filecoin (FIL) Price Prediction – August 6The current trading situation of Filecoin shows the crypto economy is garnering energy to surge higher in the subsequent […]
President Faustin-Archange Touadéra received Changpeng Zhao to discuss bitcoin and crypto. The meeting of the minds happened on Friday and there’s not much public information about what actually happened. The Binance CEO has been meeting African presidents recently, so it only makes sense that he visited the first nation to make bitcoin legal tender in […]