Bitcoin price has started a recovery wave above the $55,000 resistance level. BTC needs to break through the 100-hour SMA to continue its uptrend in the short term. Bitcoin recovered above the $53,500 and $55,500 levels. The price is trading below $58,000 and the 100 hourly simple moving average. A contracting triangle has emerged forming resistance at $57,500 on the hourly chart of the BTC/USD pair (data provided by Kraken). The pair may struggle to break above the $58,000 resistance zone. Bitcoin price rises more than 85% Bitcoin price formed a base and started a recovery wave above the $52,500…
Author: Crypto Flexs
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Former President Donald Trump and Wyoming Republican Senator Cynthia Lummis have both proposed plans for the U.S. government to hold bitcoin, with supporters saying the asset could be seen as a buffer against volatility as markets tumbled on Monday, while critics raised concerns about bitcoin’s expanded role.In the snow Released Last week, a draft bill was released that would direct the U.S. Treasury to purchase 1 million bitcoins over five years. Loomis said the government would hold the coins for at least 20 years unless they are sold to reduce debt. block.Republican presidential candidate Trump has also said he would…
Peter Zhang Aug 7, 2024 03:55 Binance has announced a promotion for new and existing users, offering $100,000 worth of USDC rewards and loss protection for spot trading activities. Binance, one of the major cryptocurrency exchanges, has unveiled a new promotion to encourage spot trading on its platform. According to Binance, the promotion will reward $100,000 USDC and provide loss protection for new and existing users who participate.Promotion Period and EligibilityThis promotion will run from August 7, 2024 03:00 (UTC) to September 8, 2024 23:59 (UTC). Open to new, regular and VIP 1-3 users.…
The SOL/ETH ratio (a ratio that measures the value of one Ether token per one Solana token) hit a new all-time high this week amid market turmoil that has seen cryptocurrency prices plunge. According to TradingView data, the Solana (SOL) to Ether (ETH) ratio hit a new high of 0.0595 on August 6. SOL/ETH hit a new high of 0.059 on August 6. Source: TradingViewThis came in the wake of the brutal $500 billion cryptocurrency sell-off, which was caused by turmoil in traditional financial markets, excessive selling by Jump Crypto, and broader macroeconomic uncertainty..Ether plunged as much as 22% on…
Bitcoin (BTC) is on the verge of falling back below $50,000 as a massive daily candle wick shocks analysis.Popular trader CrypNuevo recently warned in a X report that recent BTC price volatility could lead to Bitcoin hitting six-month lows.BTC price history shows that the wick will be “filled” in a few days.Bitcoin managed to bounce back above $5,000 from its low of $49,500 recorded on August 5.However, there is still no consensus on where BTC/USD is headed next, with opinions diverging as the day’s dismal losses subside.There is reason for concern for CrypNuevo, as he points out that historically, large…
Ronin Network Shuts Down Bridge Operations After $9.8 Million Breach According to the initial update, it is likely a white hat hacker. Ronin, the blockchain network for gaming and powering the Axie Infinity game, has announced that it is temporarily suspending its bridge. The August 6 announcement comes amid a whitehat hacking campaign that is believed to have resulted in over $9.8 million being stolen via MEV bots. What happen? The Ronin exploit reportedly allowed attackers to steal 3,996 Ether (ETH) tokens from the blockchain. The on-chain security platform warned the community about the suspected hack in a post published…
Ethereum Ethereum -1.12% Scaling solution Turbo Protocol has launched a new blockchain capable of processing 400,000 transactions per second, the team announced Tuesday at the Blockchain Application Stanford Summit. That’s about 4,000 times faster than high-throughput chains like Solana.The Turbo team said in a press release that the project is one of many new efforts to experiment with “parallel transaction processing,” a process that records multiple transactions simultaneously “as opposed to sequentially as is currently done on Ethereum.” For comparison, the Ethereum-based layer handles about 20 to 30 transactions per second, while competing network Solana handles just over 1,000 transactions…
In the event of a major market crash, the TradFi platform will face downtime. The Solana network is resilient despite past issues. Solana has previously struggled with extreme volatility in trading. The recent market crash, which saw Bitcoin drop below $50,000, has created frenzied activity in both the cryptocurrency markets and traditional financial institutions (tradFi). Such times test the reliability of blockchain networks and traditional web infrastructure. This time, blockchain networks have performed better. Despite having suffered technical issues in the past and multiple network-level outages over the past few years, Solana has performed strongly during the recent crash, while…
Louisa Crawford Aug 6, 2024 22:24 Binance launched the ‘Word of the Day’ game, allowing users to earn Binance Points by testing their knowledge of account security. Binance has launched a new ‘Word of the Day’ (WOTD) game that aims to educate users about account security while giving them the opportunity to earn rewards. According to Binance, participants will be able to share in a pool of 500,000 Binance Points, which can be exchanged for BNB token vouchers and trading fee discounts on the Rewards Hub.Game Details and ParticipationThe WOTD game is designed as…
Clicker games are about to take a ‘significant’ downturn. Andrew Saunders, chief growth officer at SKALE Labs, said clicker games like Catizen and Tapswap would likely lose their appeal if the current batch of tokens were released, as the games would likely not be able to sustain the hype. Sanders told Web3 Gamer that many people are flocking to cryptocurrency idle clicker games (also known as tap speculation games) because of “airdrop speculation,” meaning they are hoping to make massive crypto profits later on through airdrops. Clicker games are the latest phenomenon in crypto, and some of these simple games…