Altcoins Bitcoin

Popular Crypto Trader Remains Optimistic About One DeFi Altcoin As Bitcoin (BTC) Pulls the Market Down

A popular crypto trader is staying optimistic about one decentralized finance (DeFi) altcoin despite the market’s overall price downtick. Pseudonymous analyst Credible tells his 332,400 Twitter followers he’s still buying Curve DAO Token (CRV), the governance token for Curve Finance, a decentralized exchange for stablecoins. “Way down on my average for CRV at this point […]

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Brazil’s Largest Digital Bank Set To Start Bitcoin And Ethereum Trading Services

Swiss National Bank Says NO To Buying And Holding Bitcoin As A Reserve Currency

The wave of crypto adoption in Latin America shows no signs of slowing down. On Wednesday, Paxos confirmed that Brazil’s most valuable digital bank, Nubank, would be offering crypto trading services to its clients. Nubank Launches Crypto Trading Services With The Help Of Paxos Nubank, as confirmed by a press release from Paxos on Wednesday, […]

Crypto News

XRP Flashed A Sign Of Revival; Where’s It Headed Next?

The price of XRP has nosedived substantially to a level that it last touched almost 70 weeks ago. At the current time, XRP’s price have been trading near its immediate support level of $0.36. Bitcoin continues to be on shaky grounds as the coin tried recovering by moving past the $30,000 mark. At press time, the coin fell back to $29,700. The majority of the industry’s altcoins have continued to extend losses today. The bearish pull remains strong in the market at the time of writing. Over the last 24 hours, the market has bottomed out and that is why a chance of price revival can still be considered. The technical outlook of the coin shows that a relief rally could be on the charts, however, the macro market is still fragile. Strength from the broader market would be needed as well so that sellers don’t outnumber buyers in the market forcing prices to fall again. Price Analysis: XRP One Week Chart XRP was trading at $0.42 at the time of writing. The coin had presented signs of revival because the coin soared by 10% over the last 24 hours. It is still quite uncertain if XRP will manage to trade above its nearest support line of $0.36. A break below which can cause the coin to tumble to a low of $0.13. With buyers returning, XRP might attempt to trade above its immediate resistance of $0.56. XRP also flashed an equal high on the one week chart, this pattern is connected to bullish price action in the market. Toppling over the immediate resistance can push XRP to $0.68, staying above which can help invalidate the bearish thesis in the market. The volume of XRP traded had increased and the bar was red which depicted bearishness. Technical Analysis XRP had attempted to make a price revival but continued selling pressure have tired the bulls out. The same is reflected on the 20-SMA indicator. The price of XRP was seen below the 20-SMA line. This reading signified sellers were driving the price momentum on the market. On the Relative Strength Index, after facing an intense sell-off across the market, buyers re-entered. XRP was no longer seen in the oversold zone on the RSI. After the recovery though, XRP again fell prey to the bears and RSI flashed a downtick signifying increased selling pressure. Related Reading | Crypto Shorts See $240M Flush As Bitcoin Rebounds Back Above $30k With the price revival, XRP’s technicals have displayed an onset of positive price action. It is however too early to say if it is a beginning of a shift in the price action. Moving Average Convergence Divergence underwent a bullish crossover on the four-hour chart. The indicator flashed growing green histograms above the half line and that means bullish momentum for the coin. XRP also could witness a northward push in prices because the Chaikin Money Flow was seen above the zero-line. This indicator displays the number of capital outflows and inflows and according to the above chart, capital inflows exceeded outflows at the time of writing. Related Reading | Bitcoin Recovers Above $30,000, Has The Bottom Been Marked?

Crypto News

How to Get Fit and Earn Crypto with MoveZ

Tokenomics emerged as a popular concept in the crypto space in 2017 as a way to incentivize certain behaviors on blockchains through the use of tokens. The idea is that by aligning the economic incentives of a project with its users, you can more effectively drive adoption and usage. One area where tokenomics have been applied is in the realm of fitness and exercise. The theory goes that if you can reward people for getting in shape and staying active, you can help address the global obesity epidemic. Recent years have seen a number of “move-to-earn” apps emerge, including Sweatcoin and STEPN. MoveZ is the latest entrant into this space, and it’s powered by BlueZilla, a platform that has launched a third of the best performing IDOs. MoveZ has set out to resolve the challenges faced by earlier options with an array of unique features – including the “burn to earn” concept where doing exercise results in the users’ favorite tokens being burnt, and them being rewarded in their favorite tokens. It’s also deflationary, which will help to balance supply with demand. How Much Users can Earn The amount you can earn using MoveZ will depend on your activity level and the quality of your NFTs. The higher your activity level, the more you can earn. And if you have a high-quality NFT, you’ll be able to earn more as well. In practice, this means earnings range from a few bucks to several hundred dollars per day – depending on how active you are and what kind of NFTs you have. On MoveZ, ALL forms of exercise can be rewarded, giving the platform a massive advantage over established platforms who provide limited forms of exercise for users. That could be swimming, cycling, jogging, running, being at the gym, or more. The Potential for Growth With a market cap of just $55,000, MoveZ has a lot of room for potential growth. This is especially true when you consider that BlueZilla has launched one-third of the best performing IDOs of all time – indicating that MoveZ has a lot of potential. Some May Call Them Lucky Some May Call Them Geniuses! 🤓 These Are the Best Performing #IDOs of 2021 🔥 https://t.co/2xfcNuDvuw pic.twitter.com/TrJBoyh8cg — CoinMarketCap (@CoinMarketCap) December 7, 2021 Further, MoveZ’s Twitter and Telegram accounts have ballooned to over 100,000 combined users in just a few days. This demonstrates the strong demand for the app. What’s more, MoveZ has a number of unique selling points that should help it gain traction with users. These include boost zones, organizational accounts, as well as NFT lending and revenue sharing. All of this makes MoveZ an app to watch in the coming months. With its strong team, growing user base, and innovative features, MoveZ is poised to take the move-to-earn space by storm. MoveZ’s IDO will launch on BSCPad, MetaVPad, GameZone, and PolyPad.   Image: Pixabay

Altcoins Bitcoin Ethereum

Top Crypto Analytics Firm Says Bitcoin (BTC) Flashing Signs of Notable Bounce As Trader Sentiment Turns Sour

Crypto market-intelligence platform Santiment says that a gloomy reaction to Bitcoin (BTC) falling below $30,000 to start the week is necessary for a rebound. Santiment says that the purging of traders and investors who exit the market at the first sign of plummeting prices usually leads to a “truly notable bounce” afterward. “With Bitcoin now […]

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Bitcoin Crypto News

Bitcoin Broke Above The Multi-Week Resistance; What’s Next

Bitcoin recovered on its chart over the last 24 hours as the king coin surged by 2%. Prices of the coin saw some respite after visiting the $37,000 price level. As broader markets started to recover Bitcoin’s price action moved on a north-bound journey. Currently, Bitcoin’s prices were trading in a tightly consolidated region because the coin did not manage to go past the $39,800 price mark. It is too early to say if the bulls have resurfaced completely in the market. If demand doesn’t recover considerably, then the digital asset could fall back to the $38,000 price level,  which is acting as a support level for the coin. It is however a positive sign because Bitcoin has managed to break past its multi-week resistance line. If the bulls continue to exert pressure then Bitcoin over the upcoming trading sessions could manage to revisit the $40,000 price mark. Bitcoin buyers have to continue staying in the market for the coin to successfully trade on the upside. Bitcoin Price Analysis: Four-Hour Chart Bitcoin was priced at $39,100 at the time of writing. After breaking past the multi-week resistance the coin again fell from the $39,800 price level. This indicated a brief correction because the coin’s prices plunged at the time of writing. Immediate resistance for the coin stood at $40,000. A break above that price mark could push Bitcoin to run to the $44,000 price level. On the flip side, the support level rested firmly at $37,900 and a fall beneath which, Bitcoin would trade near $37,000. The trading volume of the coin is yet to pick up momentum because the last trading bar was seen in red indicating negative price action. Technical Analysis The break above the multiweek resistance caused the buying strength to fall considerably. After rising on the chart considerably, the coin plunged at press time. Gains weren’t substantial and that had pushed the coin down further. The Relative Strength Index was seen closing near the 50-line which signified a fall in buying strength because buyers were exiting the market. The fear index of the market stood at 27, which points toward considerable fear. Bollinger Bands depict volatility in the market and the indicator expanded at the time of writing. An expansion of the bands indicates an anticipated increase in price volatility over the upcoming trading sessions. Related Reading | Bitcoin Long Squeeze Incoming? Funding Rates Surge Up MACD is responsible for depicting market momentum and it indicates bullish momentum for the coin. At press time however, the histograms were seen fading and that signalled at continued bearish price action for the coin. Chaikin Money Flow was positive about the capital inflows because the indicator was above the half-line. The indicator however, noted a small downtick and that could possibly mean an increase in capital outflows reaffirming continued bearishness in the market. Related Reading | One Coin, Two Trades: Why Bitcoin Futures And Spot Signals Don’t Match Up Featured image from UnSplash, chart from TradingView.com