Day: March 7, 2022

Ethereum Could Avoid a Major Downtrend if it Closes Above One Key Level

Aayush Jindal

Ethereum extended decline below the $2,500 support zone against the US Dollar. ETH price is recovering, but it must clear $2,680 to start a decent increase. Ethereum extended decline below the $2,500 support before correcting higher. The price is now trading below $2,600 and the 100 hourly simple moving average. There is a key bearish trend line forming with resistance near $2,600 on the hourly chart of ETH/USD (data feed via Kraken). The pair could start a steady recovery wave if it clears $2,600 and $2,680. Ethereum Price Faces Hurdle…

Mighty Jaxx Raise $34.8M To Bring Their IP Licensing Skills To Web3

Anthony B

Mighty Jaxx, an award-winning future culture company that designs and produces phygital collectibles, raised $34.8M as they plan to expand and strengthen their operational, Web3, and metaverse capabilities. The company’s current valuation is now over $200 million! Last Feb 23, Mighty Jaxx released their Cyberphunk Zero phygital collectible with NFT. The East Ventures (Growth Fund) led their Series A+ funding round. Mirana Ventures – the venture partner of Bybit and BitDAO, is also one of Mighty Jaxx’s strategic investors. Easternwind International, Pan Solar Ventures, Teja Ventures, Greycroft are also part…

HIVE Blockchain to expand mining operations with new Intel ASIC chips

Brian Newar

Publicly traded crypto mining company HIVE Blockchain Technology has signed a deal to buy ASIC chips from semiconductor manufacturer Intel that will be used in their new custom mining devices. HIVE has arranged for the new devices to be made by a third-party custom design manufacturer that will integrate the Intel chips into new air-cooled Bitcoin (BTC) mining devices. HIVE expects that the new devices will nearly double its aggregate Bitcoin mining hash rate from 1.9 to 3.8 Exahashes per second (Eh/s). They will begin arriving ready for use starting…

Yield Guild Games Hits 20K Axie Infinity P2E Scholarship Milestone

Martin Young

The popular gaming guild YGG has reached a milestone in terms of new scholars for the Axie Infinity platform and various other play-to-earn games. Yield Guild Games reported 20,700 unique Axie Infinity scholars in February, an increase of 8,500% since the same month last year when there were just 241. The milestone marks a “new record in the play-to-earn space” said YGG in an announcement shared with Cointelegraph. The play-to-earn scholarships allow new players to borrow a team of Axie NFTs from the Guild. Their in-game earnings are then split…

Bitcoin Faces Uphill Task, Why BTC Bears Are Still In Control

Aayush Jindal

Bitcoin remained in a bearish zone below $39,000 against the US Dollar. BTC could recover only if it manages to clear the $40,000 resistance zone. Bitcoin is showing bearish signs below the $39,000 and $40,000 resistance levels. The price is trading below $39,000 and the 100 hourly simple moving average. There is a key triangle pattern forming with resistance near $39,000 on the hourly chart of the BTC/USD pair (data feed from Kraken). The pair might start a recovery wave if there is a clear move above $39,000 and $40,000.…

Total exchange BTC inflows have been net negative since July ’21

Brian Newar

Bitcoin inflows across all exchanges have been net negative since last July, but four major exchanges have been running contrary to this trend with nearly an equal amount of net positive inflows. There have been total net outflows of 46,000 BTC (worth around $1.8 billion at current prices) from all crypto exchanges since last July. Only Binance, Bittrex, Bitfinex, and FTX have seen net positive inflows of 207,000 Bitcoin (BTC), according to data from blockchain analytics firm Glassnode’s March 7 newsletter. Over the same time period, net outflows have totaled…

Malaysia May Be Asia’s Next Crypto Hub; Major Cryptos Decline as Russia Onslaught Intensifies

Anthony B

At the time of publication, bitcoin was trading at about $38,300, off slightly over the past 24 hours. Ethereum was changing hands just above $2,500, down 1.7%. Most other major cryptos were firmly in the red. It was the third consecutive day of crypto declines, which started late on Friday as faint hopes for a ceasefire or targeted truce to allow civilians to evacuate besieged cities evaporated. Author: Sam Reynolds, Damanick Dantes, James Rubin Source link

The Bullish Scenario That Puts Bitcoin At $165K Before $22K

Best Owie

Bitcoin is still quite bullish over the long term despite all of the bearish short-term trends being recorded recently. It is still one of the most promising investment options in the space with growth speculated to skyrocket in the next five years. Through all of the recent downtrend, there have been widespread concerns that the cryptocurrency has officially entered another stretched-out bear market. Not everyone subscribes to this school of thought, however. The current bearish climate does nothing to deter bulls as there are still various scenarios that put bitcoin…