Bitcoin (BTC) gained 4% between August 21 and August 22, and despite losing some momentum, it held support at $60,000. Some analysts argue that a break above the $62,000 resistance level is needed to confirm the bullish trend. However, given the market’s confidence that the U.S. Federal Reserve (Fed) will implement expansionary measures, the odds are still high for Bitcoin bulls.Bitcoin fundamentals and spot ETF flows remain robust.Bitcoin analyst and investor Decode believes that BTC price needs to break above the 200-day moving average, especially at the monthly close, to “restart the uptrend.” source: DecodeharHowever, Decode added that Bitcoin “seems…
Author: Crypto Flexs
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NFT Marketplace • August 22, 2024 10:36 AM EDT Posted 1 minute earlier ~ in Updated: August 22, 2024 12:46 PM EDT Magic Eden, the leading NFT marketplace, will adopt a utility token called ME, developed by the ME Foundation and to be launched in the future. ME tokens enable cross-chain trading. Solana brush +2.00% According to a press release shared with The Block, the Magic Eden-based platform will incentivize consumers to “transact all assets on the largest chain at all times.” The team anticipates that as interest in NFTs and Bitcoin-based runes grows, the token will be integrated into…
The world’s largest cryptocurrency exchange, Binance, is adding support for a new meme coin created by the community of messaging platform Telegram. Binance has announced that it will list the meme coin Dogs (DOGS) on its Layer 1 blockchain, The Open Network (TON). Binance will first list DOGS on Binance Launchpool on August 23, allowing users to farm the new asset by staking their coins. Binance then plans to list the asset for trading on August 26. Binance says: “DOGS is designed to leverage Telegram’s massive user base and native meme culture. Centered around the beloved dog mascot originally drawn…
Rebecca Moen Aug 23, 2024 02:36 Discover the unique features and applications of the Sui DeFi ecosystem, including lending and borrowing protocols, DEX, and NFT marketplace. Sui Blockchain’s decentralized finance (DeFi) provides a unique and powerful ecosystem for both users and developers. According to The Sui Blog, Sui’s basic primitives enable DeFi applications to solve common challenges such as liquidity bootstrapping through tools like DeepBook.Sui’s DeFiIn many DeFi ecosystems, users face friction points, especially when they are new to Web3. Sui simplifies DeFi activities and makes them user-friendly, as it does not require authorization…
Grayscale Launches Avalanche Trust, Providing Investors Exclusive AVAX Exposure AVAX price surged to $25.16, and Avalanche open interest increased by about 9%. The new fund strengthens Grayscale’s portfolio and aligns with its cryptocurrency strategy. Grayscale Investments, the world’s largest cryptocurrency fund manager, announced the launch of a new investment fund dedicated to the Avalanche (AVAX) token. Officially launched on August 22nd, Grayscale Avalanche Trust expands the company’s portfolio of over 20 cryptocurrency investment products and provides accredited investors with a new way to invest in Avalanche’s native cryptocurrency. Grayscale Avalanche Trust Provides Direct Access to AVAX Grayscale’s Avalanche Trust is…
We round up the weekly news from across Asia, highlighting the most important industry trends. Power struggle with Southeast Asia’s Bitcoin miners Southeast Asia has become a hotbed of Bitcoin mining following China’s massive crackdown in 2021. Authorities across the region are now battling a surge in electricity theft used to fuel these mining activities. Malaysian authorities arrested seven people this week for allegedly mining bitcoin illegally using stolen electricity, according to Malaysian state-run news agency Bernama. Police seized 52 pieces of mining equipment along with electronic devices and several vehicles worth about 250,000 ringgit (US$57,000). But that’s just the…
The curve is formed at the upper time frame. Why are big holders selling ahead of the upcoming alt season? Curve (CRV) recently broke out on the 2-day time frame, signaling a possible price increase. Using the Lux Algo indicator, CRV successfully retested the breakout level and is now targeting a new high. After completing the 5th wave bottom, CRV established support at $0.30 and resistance was found at $0.42. However, it is uncertain whether CRV will reach the short-term high of $0.50. Source: TradingView CRV has also broken out of consolidation at the time of writing, and price action…
Cryptocurrency infrastructure startup Conduit has announced the launch of a marketplace platform that will help rollup teams scale.Conduit creates products that help developers build their own “customizable and robust” rollups and creates layer 2 scaling solutions for networks. Ethereum Ethereum +0.33% . The new Conduit Marketplace offers:“It’s the place to find, buy, and build best-in-class integrations for everything your chain needs,” the Ollup team said in a statement.The company said there were 48 partners registered for the marketplace at launch Thursday. Rollup developers can then seamlessly find, purchase, and integrate tools by organizing the marketplace, Conduit said in a statement.…
Ted Hisokawa 22 Aug 2024 17:23 Startups are advised to hire recruiters from among their first 10 employees to ensure successful scaling and avoid common pitfalls. According to a16z crypto, startups are encouraged to prioritize hiring recruiters from their early staff to ensure successful scaling and avoid common pitfalls. This strategy may seem counterintuitive, but it can provide a significant advantage in the competitive environment for early-stage companies. The Role of Recruiters in Early-Stage Startups Recruiters can save founders a significant amount of time by sourcing, cold outreach, and managing multiple candidates through multiple…
Cryptocurrency prediction market Polymarket has had quite the summer, pouring hundreds of millions of dollars worth of bets into questions related to the 2024 US presidential election. Recent developments seem to be testing Polymarket’s accuracy compared to polling.Over the past few days, former President Donald Trump has again hit a new high on the site to win the White House in November, the first time since Kamala Harris entered the race. He currently has a 53% lead, while Harris has a 47% lead.President Trump overtook Harris earlier this week, and the gap has only widened.But traditional polls show Harris still…