Day: April 6, 2022

Ethereum Topside Bias Vulnerable If ETH Dives Below $3,120

Aayush Jindal

Ethereum extended losses below the $3,300 support zone against the US Dollar. ETH price even traded below $3,200 and might continue to move down. Ethereum started a major decline from the $3,450 resistance zone. The price is now trading below $3,200 and the 100 hourly simple moving average. There is a key bearish trend line forming with resistance near $3,425 on the hourly chart of ETH/USD (data feed via Kraken). The pair remains at a risk of more losses below the $3,140 and $3,120 levels. Ethereum Price Extends Downsides Ethereum…

Binance.US Tops its Valuation to $4.5b Stirred by $200m in Seed Raise

Godfrey Benjamin

Binance.US, the subsidiary of Binance exchange in the United States, has raised $200 million in a seed funding round that has given the company a pre-money valuation of $4.5 billion. As announced by the firm, the new capital injection will enhance the technological capabilities of its spot trading platform, develop a suite of new products and services to be introduced in the near term, and invest in marketing and consumer education initiatives. The funding round completed by Binance.US saw participation from external investors for the very first time. Investors who…

Commonwealth Bank’s plans to expand crypto services to 6.5M delayed by red tape

Brian Newar

Financial regulators are standing in the way of expanded crypto services on Commonwealth Bank of Australia’s (CBA) mobile app. In an Australian first, the bank aims to grant all of its 6.5 million users access to cryptocurrency services. The CBA’s crypto products started a pilot of the services late last year after which it hoped to open up to all of the users of its app, however it now appears to be moving toward a second pilot. The Australia Financial Review (AFR) reported on April 6 that the Australian Securities…

Bitcoin Prints Bearish Pattern, Why BTC Could Drop To $42K

Aayush Jindal

Bitcoin extended decline below the $45,000 support against the US Dollar. BTC remains at a risk of a move towards the $42,000 support zone. Bitcoin gained bearish momentum after it broke the $45,000 support zone. The price is trading below $45,000 and the 100 hourly simple moving average. There are two bearish trend lines forming with resistance near $43,900 and $46,400 on the hourly chart of the BTC/USD pair (data feed from Kraken). The pair could extend decline towards the $42,000 level in the near term. Bitcoin Price Dives Over…

Why the Bitcoin ‘mid-halving’ price slump will play out differently this time

Brian Newar

Some analysts believe the four-year market cycle is changing and that the halving schedule may no longer determine cyclical conditions as Bitcoin closes in on the mid point between halvings. The halving is when the amount of Bitcoin (BTC) rewards issued per new block mined is reduced by half. The next halving will happen around May 5, 2024, andl reduce block rewards to 3.125 BTC. According to author @Alerzio on the Santiment blog on April 4, “the important resistance on the way is $50K.” The blog stated that breaking this…

Cosmos-Based Juno Blockchain Pushed Offline in Apparent Attack

Anthony B

According to Daniel Hwang, head of protocols at Stakefish, which runs a validator for Juno, members of the Juno community are trying to figure out who would have been motivated to execute the attack for no obvious financial gain. According to Hwang, token holders are pointing fingers at potential culprits ranging from competitor blockchains to bagholders on the losing end of last month’s governance vote. Author: Sam Kessler Source link

This Stealth Web3 Game Community Platform Just Scored USD 34 Million Led By A Korean Online Giant

Anthony B

Disclaimer: The text below is a press release that was not written by Cryptonews.com. Iskra’s blockchain-powered Web3 game platform redefines existing game publishing models and brings the power back to game developers, game players, and investors Singapore – April 05, 2022 – Iskra announced that it secured an investment of up to USD 34 million led by Krust Universe, an investment arm of Kakao, a Korean tech giant. Along with Krust Universe, the list of investors read like who’s who of the tech and gaming industry; WeMade, MetaBora, Neowiz, NHN…

SEC Approves Teucrium’s Bitcoin Futures ETF

Anthony B

An approval under the Securities Act of 1933, which Teucrium’s filing falls under, may potentially open the door for a spot bitcoin ETF, Bloomberg analyst James Seyffart said on Twitter earlier this year. Proponents of crypto ETFs have argued that “like situations must be treated alike,” he said, citing an argument from crypto company Grayscale, which filed to convert its Grayscale Bitcoin Fund (GBTC) to an ETF (disclosure: Grayscale is a subsidiary of CoinDesk parent company Digital Currency Group). Author: Nikhilesh De Source link

Meta may introduce tokens and digital currency lending services to apps: Report

Turner Wright

Social media giant Facebook’s parent company Meta is reportedly planning to introduce virtual currency named after CEO Mark Zuckerberg as well as lending services to apps it owns, which may include Facebook, WhatsApp, Instagram, and Messenger.  According to a Financial Times report on Wednesday, the move toward tokens and virtual currency is aimed at exploring alternative sources of revenue as interest in Facebook and Instagram drops. Meta’s potential virtual currency, which employees have reportedly dubbed ‘Zuck Bucks’, will be aimed at use in the metaverse. Facebook owner Meta targets finance…