Bitcoin (BTC), the top cryptocurrency, is facing further declines as the market becomes increasingly pessimistic. Key Support Levels Breaking BTC is struggling to hold onto crucial support levels, signaling a potential for more losses. Factors Contributing to Bearishness Economic pressures Regulatory concerns Technical indicators Technical Analysis Indicates Further Decline 4-hour chart: BTC has fallen below…
Interest Rate Cut Prospects Moody’s Analytics economist Mark Zandi believes the US Federal Reserve (Fed) should consider cutting interest rates. He argues that financial conditions are favorable, with inflation showing signs of cooling. Zandi also highlights the strong employment rate, suggesting that the Fed can afford to ease interest rates. Fed’s Inflation Target The Fed…
Ripple’s Commitment to East Asia Ripple has launched a massive fund to support the growth of the XRP Ledger (XRPL) in Japan and Korea. The XRPL Japan and Korea Fund, worth approximately $490 million, will invest in various initiatives to enhance the adoption and utility of XRPL in these regions. Key Focus Areas The fund…
Ethereum’s price took a hit after failing to break through the $3,720 mark. It’s now hovering around $3,550, with further losses likely. Resistance at $3,720 Ethereum tried to climb above $3,650 but faced resistance from sellers. The price reached $3,710 before dropping sharply. Support at $3,550 If Ethereum can’t regain $3,650, it could continue to…
Adoption and Acceptance on the Rise As Bitcoin gains wider acceptance, US Bitcoin Spot Exchange-Traded Funds (ETFs) have acquired a significant amount of BTC in the past week: approximately 25,729. This aligns with the growing trend of financial institutions and businesses embracing Bitcoin, solidifying its position in the global financial system. ETF Accumulation Matches Mining…
Ethereum (ETH) has been on a rollercoaster ride, dropping to $3,580 and then recovering. But now, it faces some tough hurdles. Resistance at $3,740 ETH is currently trading below $3,740 and the 100-hour moving average. A key bearish trend line is also forming at $3,740. If ETH can’t break through these levels, it could continue…
Inflows and Market Enthusiasm Ethereum has seen a surge in inflows and renewed market enthusiasm after the SEC approved Ethereum ETF applications. This follows a recent price spike that brought Ethereum close to $4,000. Best Week for Ethereum Since March According to CoinShares, digital asset investment products have experienced $2 billion in inflows, with Ethereum…
A crypto expert has identified five altcoins that he believes are performing well despite the market’s ups and downs. Altcoins to Watch Injective (INJ): A layer-1 protocol Wormhole (W): A cross-chain protocol JasmyCoin (JASMY): A data democratization project Stacks (STX): A Bitcoin layer-2 scaling solution Toncoin (TON): A layer-1 blockchain Wormhole: A Top Pick The…
Background:Ripple, a leading payment technology company, has been collaborating with the National Bank of Georgia (NBG) on a pilot project to digitize the country’s currency, the lari. Recent Meeting:NBG’s Acting Governor Natia Turnava and Head of Tech Development Varlam Ebanoidze met with Ripple’s James Wallis to discuss further cooperation in digitalizing Georgia’s economy. Potential Collaboration:The…
Coinbase, the leading crypto exchange in the US, has proposed a new way to accurately measure the adoption of blockchain technology. The Challenge of Measuring Adoption As more blockchain applications are launched, traditional metrics like total transactions and daily active addresses become less reliable due to spam and fake accounts. Introducing the h-index To address…
