Cardano price started a new downtrend below the $0.4120 support level. Ethereum’s decline seems to be dragging ADA down to the $0.380 support level. ADA price is trading down again from the $0.450 resistance zone. The price is trading below $0.4120 and the 100 hourly simple moving average. On the hourly chart of the ADA/USD currency pair, there is a resistance line forming at $0.4060, forming a major downtrend line (data source: Kraken). The pair may continue to decline and test the $0.380 support zone. Cardano Price Shows Signs of Further Downward Fall After a steady rise, Cardano faced sellers…
Author: Crypto Flexs
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Caroline Bishop 2 Aug 2024 14:51 According to a16z crypto, the UK is at a critical juncture where it needs to foster new technology policies, particularly in the blockchain space, to drive economic growth. According to a16z crypto, the UK is at a critical juncture, as highlighted by the recent King’s Speech to Parliament, in which the UK was urged to ‘pursue sustainable growth by encouraging investment in industry, skills and new technologies’.The potential of blockchain technologyThe new Labour government has a significant opportunity to achieve this goal by establishing policies that support the…
Star Xu, founder of major cryptocurrency exchange OKX, has warned against frequent sell-offs of newly listed altcoins. Specifically, he points to the rapid decline of the Aevo token, which fell from nearly $4 in March 2024 to its current value of $0.434. That’s a 90% drop in value in just five months. Aevo Announces Purchase to Create Long-Term Value for Token Holders Mr. Xu’s criticism goes beyond market fluctuations and extends to the ethical responsibilities of cryptocurrency exchanges. In a Twitter post, Xu questioned the motivations of cryptocurrency exchanges for listing new tokens, arguing that such behavior often leads to…
As investors express concerns about BTC price performance, Bitcoin needs to hold $60,000 to reach a new all-time high.BTC/USD 1-hour chart. Source: TradingViewBitcoin price stable despite stock selloffAccording to data from Cointelegraph Markets Pro and TradingView, Bitcoin (BTC) bounced from its two-week low of $62,235 on August 2.Bitcoin continues to show signs of breaking towards $60,000, and risk assets have been experiencing a period of volatility earlier this month.Stock markets around the world are in the midst of a prolonged selloff, and while cryptocurrencies have yet to match their volatility, concerns about the immediate future remain.Japan made headlines on August…
Social media platform X has suspended an account called MakeNowMeme, which allowed users to launch their own Solana-based memecoin simply by posting tweets on the platform. On the account page, X noted that the platform suspends accounts that violate its rules.“@makenowmeme X account has been suspended and is under review for recovery. Mining is currently suspended.” MakeNowMeme official website saidHe added that he will also provide webpage updates with new solutions.MakeNowMeme required X users to launch their own MemeCoins by posting a tweet in a specific format that started with a dollar sign and the ticker name, followed by the…
The project released its white paper just days after surpassing 300 million users. Project Officials Promise ‘Largest Cryptocurrency Airdrop’ Hamster Combat, a popular Telegram-based game, recently reached a major milestone by reaching 300 million users in just five months since its launch. But that’s not all. Hamster Kombat has released a whitepaper and updated its development roadmap to further expand its massive user base, providing insight into its future plans and token economics. What does the white paper say? According to the newly released whitepaper, Hamster Kombat will allocate 60% of its total token supply to community distribution, with the…
Jorg Hiller Aug 2, 2024 11:48 According to a CoinGecko survey, only 19% of crypto participants expect NFTs to return this cycle, with gaming and metaverse items seen as the most bullish use cases. According to a recent survey conducted by CoinGecko, only 19.4% of crypto participants expect NFTs to make a comeback in the current cycle. The survey, which collected responses from 2,558 crypto enthusiasts, paints a rather bleak picture of the immediate future of NFTs. Will NFTs Make a Comeback?Despite the overall bullish sentiment in the crypto market, 54.1% of respondents do…
Chris Lee predicts that blockchain will soon shift from horizontal scaling to vertical scaling. Vertical expansion can increase the efficiency of online casinos and improve the user experience. Advanced solutions like atomic swaps can replace wrapped assets while maintaining decentralization. Chris Lee, a former Microsoft engineer and founder and CTO of Ava Protocol, makes a bold prediction about the future of blockchain technology. According to Lee, the focus of blockchain development is expected to shift from horizontal to vertical expansion in the next five years. This shift is expected to redefine how various industries utilize blockchain technology, especially in terms…
Ether is struggling to maintain its position in the market as major bearish signals are confirmed on the long-term chart. ETH price plunges below major trend lineETH’s daily candle closed below the 200-day moving average (200-DMA), a move that has seen corrections several times before. ETH/USD on the 1-day chart. Source: Trading ViewOn the other hand, the spot Ethereum ETF provided a small glimmer of hope to the ecosystem, recording net inflows of $26.7 million on August 1. Ethereum fees have been plummeting since March.According to the latest on-chain data, Ethereum generated an average daily fee of over $10 million…
Ethena Labs’ synthetic dollar will be launched as margin collateral on cryptocurrency exchange Bybit as USDe token adoption grows. The new integration will see USDe launched as a margin collateral for traders with an annual percentage rate (APR) of up to 20%.According to Bybit’s co-founder and CEO Ben Zhou, this will bring more efficiency and flexibility to Bybit’s traders’ trading strategies. Zhou …“By leveraging USDe, traders can now benefit from a unique combination of stability and potential returns while managing their collateral. For Bybit users, this means access to a range of stablecoin options, including crypto-native solutions like USDe.”The new…