Armani Bins, Author at Coinedict

Bitcoin Prints Bullish Pattern, Why Close above $35K Is Crucial

Armani Bins3 years ago2 years ago04 mins

Bitcoin price started a fresh increase from the $32,250 support zone against the US Dollar. BTC must settle above the $35,000 resistance to move further into a bullish zone. Bitcoin started a fresh increase above the $33,500 and $34,000 resistance levels. The price is now trading above the $34,000 support and the 100 hourly simple moving average. There is a major bullish trend line forming with support near $34,000 on the hourly chart of the BTC/USD pair (data feed from Kraken). The pair is likely to continue higher above the $35,000 resistance unless it fails to stay above $33,500. Bitcoin Price Starts Fresh Increase Bitcoin formed a decent support base above the $32,000 zone and started a fresh increase. BTC broke the $33,500 resistance zone and the 100 hourly simple moving average. It even surpassed the $34,000 resistance to move into a positive zone. However, the price is still struggling to surpass the main $35,000 resistance zone. A high is formed near $34,600 and the price is now correcting gains. It traded below the $34,200 level. There was also a break below the 23.6% Fib retracement level of the upward move from the $32,988 swing low to $34,609 high. On the downside, an initial support is seen near the $34,000 level. There is also a major bullish trend line forming with support near $34,000 on the hourly chart of the BTC/USD pair. The next support is near the $33,800 level. It is close to the 50% Fib retracement level of the upward move from the $32,988 swing low to $34,609 high. Source: BTCUSD on TradingView.com The main support is now forming near the $33,500 zone and the 100 hourly SMA. Any more losses might push the price back into a negative zone. More Upsides in BTC? If bitcoin remains stable above the $33,500 support zone, it could continue to move higher. An immediate resistance on the upside is near the $34,500 level. The first major resistance is near $35,000. If there is a close above the $35,000 resistance zone, the price could rise towards the $36,500 resistance. The next major hurdle is near the $38,000 zone. Technical indicators: Hourly MACD – The MACD is now losing pace in the bullish zone. Hourly RSI (Relative Strength Index) – The RSI for BTC/USD is now well above the 50 level. Major Support Levels – $34,000, followed by $33,500. Major Resistance Levels – $34,500, $35,000 and $36,500.

A PROFOUND VISIONARY; HARDIK JOSHI, THE CATALYST TO THE RAPID GROWTH OF BLOCKCHAIN AND THE CRYPTO INDUSTRY.

Armani Bins3 years ago2 years ago07 mins

Blockchain is considered the enigma of a security structure that is widely reputed by cryptocurrency miners worldwide. Many believe that using Blockchain to facilitate growth in their business is the new wave to the future technology. CITRUS: THE EMERGING PIONEER OF BLOCKCHAIN GAMING: Having so many attributes, Blockchain has shaken hands with many gaming industries and has come up with games that use NFT’s and other assets to make profits for gamers around the globe. Many people have come up with innovative ideas and visions of creating blockchain gaming platforms that also support other blockchain facilities. One such platform is Citrus, providing unique strategical structures in the field of Blockchain gaming. Using their unique Citrus gaming token, they are helping millions of active users in making profits. “Our vision is to lead the blockchain revolution in order to create a global crypto marketplace,” says the COO of Citrus, Hardik Joshi, who has been the supporting pillar of this great foundation. Quiz him about how he would make it possible; Hardik says, “ We will soon launch our own exchange, decentralized games, social media apps, NFT’s and our own blockchain technology that will create endless business opportunities for those who are interested in hopping on to the blockchain realm.”. HARDIK JOSHI, A YOUNG MIND WITH AN EXTRAORDINARY VISION: Being the Chief Operations Officer (COO) of Citrus, he was an ardent gamer and a fan of the gaming industry as a child. As the kid grew up, he had a vision that could bring an enormous change in his life—an idea of a crypto-based game. With a vision to make his dream come true, Hardik joined Citrus and was one of the earliest members of the platform. The contribution from Hardik on providing Blockchain technology to help bring a ton of opportunities to people is exceptional. “My ultimate goal is to advance the decentralized gaming industry by incorporating blockchain technology,” says Hardik when questioned about his ultimate goal. Hardik also believes that at Citrus, introducing the users and gamers to a new world of virtual gaming and bringing their ideas and characters into reality would be revolutionary in the world of gaming. The run doesn’t end there. Hardik has also established more companies to contribute to Blockchain technology. Some of the companies include: AIM2DOOR: Aim2Door is a marketing and advertising agency founded by Hardik Joshi, Aim2Door is one of the most trusted and fastest crypto and blockchain marketing and advertising company. They are providing their services to a variety of institutions and people. Aim2Door delivers an easy, safe, and effective way to position themselves in the marketplace regardless of size, place, and location. GLOBAL PARACHUTES: Founded in 2020 and Co-Founded by Hardik Joshi, Global Parachutes is a marketing and advertising agency. With their headquarters located in Ahmedabad, India, the sole purpose of Global Parachutes is to grow brands on and off Amazon, with the use of intelligent humans and automation based on AI and machine learning. With so much work and responsibility laid upon Hardik Joshi’s shoulder, He never gets tired of serving and brings fantastic business opportunities to people. SPECULATIONS SURROUNDING BLOCKCHAIN GAMING: One of the main factors that gamers are unsatisfied with about blockchain gaming is the fun factor. Quiz Hardik Joshi on how Citrus plans on overcoming this factor; Hardik says, “ There are two different factors to it. One is building a blockchain architecture, and the other one is making a blockchain application. These are the two skill sets that are required for building a blockchain game. It is a great challenge to combine these two skill sets and develop a game that is enjoyed by both regular and a crypto-interested gamer.” Hardik is also talking with his team about building a more enjoyable platform for people by bringing in reward systems to keep the gamers hooked. “Right now, It might be a struggling platform, but in the upcoming years, Crypto blockchain gaming is expected to change the way a regular gamer looks at gaming.” With more enthusiasm and confidence, Hardik promises to bring the words to action.

Binance news, Circle plans to go public, and bullish crypto comments: Hodler’s Digest, July 4–10

Armani Bins3 years ago2 years ago018 mins

Coming every Saturday, Hodler’s Digest will help you track every single important news story that happened this week. The best (and worst) quotes, adoption and regulation highlights, leading coins, predictions and much more — a week on Cointelegraph in one link.Top Stories This Week US financial regulator FinCEN hires its first-ever chief digital currency adviserThe United States Financial Crimes Enforcement Network, or FinCEN, filled a new role — that of chief digital currency adviser, unveiled on July 6, recruiting Michele Korver for the job. Korver has an array of experience in crypto regulation, including serving as digital currency counsel for the United States Department of Justice.“Ms. Korver will advance FinCEN’s leadership role in the digital currency space by working across internal and external partners toward strategic and innovative solutions to prevent and mitigate illicit financial practices and exploitation,” said a public statement from FinCEN describing the new chief digital currency adviser position. In other regulatory-related news, Wyoming, a U.S. state that has been highly favorable toward the crypto and blockchain industry, officially named the American CryptoFed DAO a legal entity — a first for any decentralized autonomous organization, or DAO. Additionally, China has continued its regulatory crackdown on crypto. Bitcoin price dips below crucial $33K support as Bitfinex shorts jump by over 5,000 BTCBitcoin (BTC) had another range-bound week, falling under the $33,000 mark on July 8, down from near $35,000. Short positions also became significantly more prevalent on crypto exchange Bitfinex, indicating bearish sentiment. Although Bitcoin fell below $33,000, the asset once again broke above the level on July 9. BTC analyst Willy Woo noted that the current environment appears similar to that of the pre-Bitcoin breakout in the latter portion of 2020. The analyst noted metrics that show BTC being pulled into longer-term holdings, which could, in turn, decrease the available coins in circulation. Data also exposed a notable influx of fresh users on the Bitcoin blockchain. Additionally, Bitcoin exchange withdrawals have increased and deposits have lessened. Poland financial regulator issues public warning about BinanceRegulatory complications surrounding the Binance crypto exchange continued to surface this past week, with several news developments on the scene. In light of recent regulatory moves around Binance related to Canada, Japan and the United Kingdom, the ruling body of Poland’s finance scene, the Polish Financial Supervision Authority, or PFSA, cautioned Polish Binance users on their interactions with the exchange, as well as with crypto in general. “In view of the protection of financial market participants and the warnings of foreign supervisory authorities, the PFSA Office recommends special caution when using the services of Binance group entities and when trading cryptocurrencies and crypto assets, as it may involve a significant risk that may result in the loss of funds,” the PFSA said in a public statement on July 7. Earlier in the week, Binance suspended the ability to send euros from bank accounts to its exchange platform, citing no firm explanation on its rationale for the move. “Due to events beyond our control, we are temporarily suspending EUR deposits via SEPA Bank Transfers from 8 am UTC on July 7, 2021,” Binance noted in a July 6 email to exchange users. Additionally, Binance users came forward with a class-action lawsuit against the trading platform, demanding significant compensation for losses they allegedly incurred due to the platform suffering outages during times of important price action. Participants claimed they did not have access to their accounts during pivotal periods of time. Barclays bank also ceased payment card transactions to Binance. The exchange responded to the development with displeasure, saying the decision seemingly stemmed from a misunderstanding. In late June, the U.K.’s Financial Conduct Authority demanded that Binance Markets Limited, or BML, cease all domestic operations. Binance claims that BML is a separate legal entity. In a separate story on July 7, Binance CEO Changpeng Zhao expressed positivity toward crypto industry regulation in general via a July 6 letter posted on Binance’s blog. He noted a lack of regulatory clarity still exists and that Binance desires to work alongside regulators. Avalanche founder Emin Gün Sirer ‘quite bullish’ on crypto market prospectsAlthough digital asset prices have fallen in recent weeks, Cornell University professor and Avalanche founder Emin Gün Sirer retains positive expectations for the industry, citing increased interest in crypto assets from a bevvy of entities. “I have been getting contacts from retirement funds, not hedge funds, but retirement funds,” he told Cointelegraph China. Sirer foresees further ranging for crypto over the next several months, with things picking up in the fall. Stablecoin firm Circle to go public in $4.5B blank-check dealCircle, the firm behind the $26 billion market cap stablecoin USD Coin (USDC), intends to take its operation public through a SPAC, or special purpose acquisition company. Its ticker will be CRCL and the stock will trade on the New York Stock Exchange if all goes according to plan. “Circle to become public via a business combination with Concord Acquisition Corp (NYSE: CND), a publicly-traded special purpose acquisition corporation with $276 million in trust,” Circle said in a public statement on July 8. Winners and Losers At the end of the week, Bitcoin is at $33,499, Ether at $2,131 and XRP at $0.63. The total market cap is at $1.39 trillion, according to CoinMarketCap. Among the largest 100 cryptocurrencies, the top three altcoin gainers of the week are Axie Infinity (AXS) at 147.51%, KuCoin Token (KCS) at 80.82%, and Synthetix (SNX) at 76.67%.The top three altcoin losers of the week are Telcoin (TEL) at -21.46%, Celo (CELO) at -15.37%, and Hedera Hashgraph (HBAR) at -9.71%For more info on crypto prices, make sure to read Cointelegraph’s market analysis. Most Memorable Quotations“Ransom payments are the fuel that propels the digital extortion engine, and […] the United States will use all available tools to make these attacks more costly and less profitable for criminal enterprises.”Lisa Monaco, DoJ deputy attorney general “A shift of crypto mining operations out of China will be a huge opportunity for Canada. The Toronto Stock Exchange recently listed the world’s first Bitcoin ETF, so the nation is…

Ethereum Turns Red, Why Recovery Could Be Attractive To Sellers

Armani Bins3 years ago2 years ago04 mins

Ethereum extended its decline below the $2,200 support zone against the US Dollar. ETH price is showing bearish signs and it might dive further towards $2,000. Ethereum is down over 10% and it even spiked below the $2,100 support zone. The price is now trading below the $2,200 support and the 100 hourly simple moving average. There is a major bearish trend line forming with resistance near $2,200 on the hourly chart of ETH/USD (data feed via Kraken). The pair could correct higher, but sellers are likely to remain active near the $2,200 zone. Ethereum Price Extends Losses There was no major recovery in ethereum above the $2,300 level. ETH remained in a bearish zone and it broke the main $2,200 support zone to move further into a bearish zone, similar to bitcoin. The price even declined below the $2,150 support and it settled below the 100 hourly simple moving average. There was a spike below $2,100 and the price tested $2,050. A low is formed near $2,049 and the price is now correcting losses. It climbed above the $2,100 resistance. There was a break above the 23.6% Fib retracement level of the recent decline from the $2,406 swing high to $2,049 low. It is now testing a connecting bearish trend line with resistance near $2,150 on the hourly chart of ETH/USD. Source: ETHUSD on TradingView.com An immediate support is near the $2,100 level. The first key support is near the $2,050 level. The main support is now near the $2,000 zone. If there is a downside break below the $2,000 support zone, there is a risk of a sharp decline. The next major support is near the $1,850 level. Upsides Limited in ETH? If Ethereum stays above the $2,050 support, it could correct higher in the near term. An initial resistance is near the $2,150 level. The first key resistance could be $2,180. The next major resistance is near the $2,200 level and the 100 hourly simple moving average. There is also a major bearish trend line forming with resistance near $2,200 on the same chart. Any more gains could lead the price towards the $2,300 level in the near term. Technical Indicators Hourly MACD – The MACD for ETH/USD is now gaining pace in the bullish zone. Hourly RSI – The RSI for ETH/USD is currently near the 50 level. Major Support Level – $2,050 Major Resistance Level – $2,200

Sushi to Launch NFT Marketplace Shoyu Next Month

Armani Bins3 years ago2 years ago09 mins

Key Takeaways The first iteration of Sushi’s NFT marketplace, Shoyu, is expected to go live in August. It will initially launch on Ethereum and Polygon, with multi-chain support in the pipeline. The platform’s designers have optimized gas fees by moving the order book for the NFT trades off Ethereum. Share this article A group of developers supporting the popular SushiSwap protocol has written the smart contracts for a new NFT marketplace called Shoyu. The platform will give earnings to xSushi holders and optimize gas fees for NFT trades. Developers Plan Shoyu Launch Sushi is launching an NFT marketplace called Shoyu. LevX, the lead developer behind the project, posted an update about the platform on Sushi’s forum Wednesday. Shoyu’s pseudonymous team of developers noted that the protocol’s design has been completed, though there is still work to do on the frontend, cashing layer, and infrastructure. LevX also shared other details concerning features, the roadmap, fee structure, and a solution to Ethereum’s gas fee problem. The contracts are currently unaudited, but the team has scheduled security checks from Peckshield, Mixbytes, and Zokyo. Apart from LevX, other lead contributors to the code are Future Fund, Ayoki, Evan Keast, Zach Noble, and Omakase Bar. The proposal for the NFT platform was first raised in March. The community voted for the name “Shoyu,” which means soy sauce in Japanese. Shoyu is planning to launch a digital collectible marketplace and a 3D metaverse similar to games like Axie Infinity and Decentraland. The platform will support NFTs from Ethereum and other chains in a Solidity-based multi-chain ecosystem. It will also enable Sushi token holders to earn a portion of the fees the protocol generates. According to the plans posted on the Sushi forum, 2.5% of every transaction will go to xSUSHI holders (xSUSHI is the liquidity provider token obtained from staking SUSHI on SushiSwap’s pools). Shoyu is slated to launch around mid-August with further updates planned for November and January 2022. The team is working on a “Japanese sensibility and aesthetic” for the interface. Source: Sushi ForumShoyu’s contracts will also come with an in-built exchange function to optimize gas fees. It will reduce the number of on-chain bids for NFTs on Ethereum by taking an off-chain approach. Conversely, it will use an on-chain order book on Polygon. Shoyu is not the only platform the Sushi community has been working on this year. In May, it launched an initial offering launchpad called MISO. The first sale was for a rare bottle of tokenized sake. The NFT space took off earlier this year and has continued to draw interest despite the negative price action in the crypto market. NFTs have become popular among digital artists, musicians, sports personalities, governments, and celebrities as a way of sharing content with fans. In a sign of the space’s enduring popularity, Axie Infinity’s AXS token jumped over 200% in the first week of July. Decentraland’s MANA token also surged over 50% in the same period. Meanwhile, celebrities and personalities from the sporting and entertainment worlds continue to enter the market en masse. Sushi’s Shoyu will attempt to capture some of the market share while competing with the likes of Rarible, OpenSea, Decentraland, and Axie Infinity. Share this article The information on or accessed through this website is obtained from independent sources we believe to be accurate and reliable, but Decentral Media, Inc. makes no representation or warranty as to the timeliness, completeness, or accuracy of any information on or accessed through this website. Decentral Media, Inc. is not an investment advisor. We do not give personalized investment advice or other financial advice. The information on this website is subject to change without notice. Some or all of the information on this website may become outdated, or it may be or become incomplete or inaccurate. We may, but are not obligated to, update any outdated, incomplete, or inaccurate information. You should never make an investment decision on an ICO, IEO, or other investment based on the information on this website, and you should never interpret or otherwise rely on any of the information on this website as investment advice. We strongly recommend that you consult a licensed investment advisor or other qualified financial professional if you are seeking investment advice on an ICO, IEO, or other investment. We do not accept compensation in any form for analyzing or reporting on any ICO, IEO, cryptocurrency, currency, tokenized sales, securities, or commodities. See full terms and conditions. After Successful Launch, Solana DEX Raydium May Integrate SushiSwap SushiSwap on Solana? Thanks to Raydium, it may happen soon. Proposed SushiSwap Integration Raydium, a new automated market maker (AMM) built on the Solana blockchain, may integrate SushiSwap. A proposal… What is Kusama? How Polkadot’s playground accommodates blockchain de… Kusama is relatively young and was founded in 2019 by Dr. Gavin Wood, who also founded the Web3 Foundation and co-founded Ethereum. The team behind Kusama is essentially the same… Coinbase Pro Lists SushiSwap, Polygon, Skale Network Order books for Polygon, Skale Network, and SushiSwap will open on Coinbase Pro this week. Coinbase Pro Expands Listings Coinbase Pro is adding three new tokens this week. Inbound transfers… Sushi to Sell Tokenized Sake on Initial Offering Launchpad Sushi is releasing a rare bottle of tokenized sake with an eye-watering price tag on its new launchpad. Sushi Launches New Launchpad Sushi has created a launchpad for new projects…

Ethereum Gearing For Another Lift-Off, Why Rally Isn’t Over Yet

Armani Bins3 years ago2 years ago04 mins

Ethereum started a fresh increase above the $2,300 resistance against the US Dollar. ETH price is likely to accelerate higher above the $2,400 and $2,500 resistance levels. Ethereum is showing a lot of positive signs above the $2,250 pivot zone. The price is now trading above $2,300 and the 100 hourly simple moving average. There was a break above a major contracting triangle with resistance near $2,330 on the hourly chart of ETH/USD (data feed via Kraken). The pair seems to be aiming a larger increase above the $2,400 resistance zone in the near term. Ethereum Price Eyes Fresh Increase After a minor downside correction, ethereum found support near the $2,150 zone. ETH recovered losses and it later formed a decent support base above the $2,200 zone. It started a fresh increase above the $2,250 resistance level. There was a clear break above the 76.4% Fib retracement level of the key decline from the $2,388 high to $2,158 low. There was also a break above a major contracting triangle with resistance near $2,330 on the hourly chart of ETH/USD. Ether is now trading above $2,300 and the 100 hourly simple moving average. It is approaching the last swing high near the $2,388 zone. The first major resistance is near the $2,400 level. Source: ETHUSD on TradingView.com A close above the $2,400 level could start a major increase. The next key resistance could be $2,442. It is near the 1.236 Fib extension level of the key decline from the $2,388 high to $2,158 low. Any more gains could lead the price towards the $2,500 level. In the stated case, bitcoin price might also rally above $35,000. Dips Supported in ETH? If Ethereum fails to surpass the $2,400 resistance zone, it could start a downside correction. An immediate support on the downside is near the $2,330 level and the broken triangle zone. The first major support is near the $2,300 level. Any more losses might call for a move towards the $2,250 support zone and the 100 hourly SMA. The next major support sits near the $2,200 level, below which there is a risk of a larger decline. Technical Indicators Hourly MACD – The MACD for ETH/USD is now gaining pace in the bullish zone. Hourly RSI – The RSI for ETH/USD is currently well above the 50 level. Major Support Level – $2,300 Major Resistance Level – $2,400

Dfinity Criticized Over Internet Computer Fork Proposal

Armani Bins3 years ago2 years ago010 mins

Key Takeaways Dfinity founder Dominic Williams has proposed a fork of the Internet Computer network called Badlands. The new fork would come with a new token that would be airdropped to ICP holders. Critics have raised concerns about launching a new blockchain and token. Share this article Dfinity’s founder Dominic Williams has shared tentative plans of an Internet Computer fork called Badlands. However, some community members have opposed the plans. Dfinity Faces More Criticism Three months after Dfinity’s Internet Computer went live, the project’s founder Dominic Williams has proposed a fork of the blockchain. In a blog post, Williams conceptualized a new blockchain called Badlands. The post explained how Badlands would act as a sister network to Internet Computer, a highly scalable blockchain network Williams founded. Williams said that the team would fork the Internet Computer and issue a new Badlands token, BDL. The token would be airdropped to holders of ICP, the native token of Internet Computer, and a portion would be sold in a crowdsale, with the proceeds used for research and development, Williams said. While some community members expressed excitement over the news, others criticized the proposal and questioned the motive behind issuing a separate new blockchain and token. This is very similar to Kusama-Polkadot. $KSM $DOT Doesn’t seem very original and also takes away from $ICP IMO. Why not just keep it as a subnet? Also I thought ICP NNS was to prevent forks? This is essentially a fork of ICP for experimentation. — Andrew (@CloudedLogic) July 4, 2021 Among the critics, Jordan Last, a well-known developer working on Internet Computer said that Badlands should be deployed as a subnet rather than launched as a separate chain. A subnet is an application-specific blockchain network within the Internet Computer. Although the decision currently remains undecided, Williams said that he would prefer to launch a new token through a network fork instead of a subnet. Please, please, please just do this as a new subnet type if you’re going to do it at all. I have multiple concerns with the Badlands concept, but most of them stem from the introduction of an entirely new network and token. Just skip all of that and create new subnet types. https://t.co/8tTninbXEM — lastmjs.eth ∞ (@lastmjs) July 4, 2021 The ICP Debacle Other critics say that a new token could exacerbate the previous ICP token distribution debacle that took place following the mainnet launch in May. A report by Arkham Intelligence alleged that the Dfinity team front-ran investors through their distribution of ICP tokens. Arkham found that the team allegedly forced vesting schedules upon seed investors and airdrop holders, while insiders at the firm were able to liquidate unvested allocations of the token. David 😉 we should talk some time because somehow you’ve got completely the wrong impression of this project and its aims The purpose of Badlands is to bring amateur node providers into the Internet Computer ecosystem, something people have long been asking for — Dominic Williams ∞ (@dominic_w) July 4, 2021 This schedule allegedly contributed to ICP’s price drop from $730 to around $38, the equivalent of a 95% drawdown. The crash wiped over $300 billion in value in less than a month, making it one of the fastest in crypto history. Rather than clearing up Arkham’s accusation, Dfinity has chosen to remain silent on the issue. However, Williams responded to a Dfinity fan’s question about the report claiming that it was “sponsored by a competitor.” Williams claims that the Badlands network will be open to everyone to run nodes using cheap device configurations like the Raspberry Pi. This would overcome the need for buying expensive hardware currently needed to run a node for Internet Computer. Share this article The information on or accessed through this website is obtained from independent sources we believe to be accurate and reliable, but Decentral Media, Inc. makes no representation or warranty as to the timeliness, completeness, or accuracy of any information on or accessed through this website. Decentral Media, Inc. is not an investment advisor. We do not give personalized investment advice or other financial advice. The information on this website is subject to change without notice. Some or all of the information on this website may become outdated, or it may be or become incomplete or inaccurate. We may, but are not obligated to, update any outdated, incomplete, or inaccurate information. You should never make an investment decision on an ICO, IEO, or other investment based on the information on this website, and you should never interpret or otherwise rely on any of the information on this website as investment advice. We strongly recommend that you consult a licensed investment advisor or other qualified financial professional if you are seeking investment advice on an ICO, IEO, or other investment. We do not accept compensation in any form for analyzing or reporting on any ICO, IEO, cryptocurrency, currency, tokenized sales, securities, or commodities. See full terms and conditions. Was the Dfinity Team Responsible for ICP’s 95% Crash? Since its launch, a 95% crash in ICP’s token price has raised suspicions that Dfinity Foundation carried out crypto’s biggest ever rug pull. Although the team has denied all allegations,… Dfinity Mainnet Is Ready for New Age of Web Apps Dfinity has announced the successful launch of its governance blockchain mainnet, known as Network Nervous System (NNS). Dfinity’s Cloud Computing Project Switzerland-based blockchain project Dfinity aims to compete with centralized… Dfinity Showcases a Decentralized TikTok Made in Under 1000 Lines of C… “CanCan,” a decentralized alternative to TikTok, is aimed at demonstrating the capabilities of Dfinity’s software platform. Dfinity came onto the scene in 2018 after a flurry of investments led by… What is Polygon (MATIC): Ethereum’s Internet of Blockchains In terms of both decentralized app (DApp) development and adoption, no blockchain has been more successful than Ethereum (ETH). But despite its relative success, the Ethereum network still contains several…

‘Make or break’ for Bitcoin, Binance under pressure, Strike attacks Coinbase

Armani Bins3 years ago2 years ago015 mins

Coming every Saturday, Hodler’s Digest will help you track every single important news story that happened this week. The best (and worst) quotes, adoption and regulation highlights, leading coins, predictions and much more — a week on Cointelegraph in one link.Top Stories This Week Bitcoin mining difficulty just fell by a record 28% — but will this help prices recover?Bitcoin has recorded its biggest mining difficulty drop of nearly 28%, but one model suggests prices will not bottom until October.The drop is in response to the ongoing miner migration out of China and the subsequent loss of hash rate — and this could deliver a profit boost for the miners still at work.Bitcoin has now closed its third red monthly candle in a row, meaning BTC/USD is now the furthest away from its stock-to-flow model estimates in more than two years. Data shows the world’s biggest cryptocurrency fell 40.36% in Q2… the biggest quarterly plunge in over three years.Plan B said the next six months will be “make or break” for the stock-to-flow model, adding: “Even for me it is always a bit uneasy when Bitcoin price is at the lower bound of the stock-to-flow model.” Binance faces regulatory upheaval as lawmakers target ‘global’ exchangesRegulatory woes are piling up for Binance. Japan has accused the exchange of operating without proper registration, and toughened measures in the Canadian province of Ontario have prompted Binance to announce that it plans to cease all operations there.Monday saw Binance suspend the use of Faster Payments in the U.K., meaning that it would take longer for British customers to withdraw pounds from the exchange. This came days after the Financial Conduct Authority told the exchange to cease all regulated activities in the country. However, this was later reinstated.Thailand’s Securities and Exchange Commission and the Cayman Islands Monetary Authority are the latest financial regulators to announce a regulatory crackdown on Binance.As a major global exchange, the exchange has been struggling to find the right jurisdiction for operating its business. Bitcoin.org blocks access to Bitcoin software download in the UKBitcoin.org has blocked U.K. visitors from downloading Bitcoin Core software, as well as the whitepaper authored by Satoshi Nakamoto. It comes days after a British court ruled in favor of self-proclaimed Bitcoin creator Craig Wright.He had accused Bitcoin.org and its current operator Cøbra of copyright infringement for hosting the BTC whitepaper in the U.K.Cøbra elected not to mount a defense in order to protect their anonymity — and was also ordered to pay interim legal costs of £35,000 (about $48,600.)The judgment is the latest salvo in Wright’s assault on people who dispute his claim of being Bitcoin creator Satoshi Nakamoto. Strike to offer ‘no fee’ Bitcoin trading, taking aim at Coinbase and SquarePayments platform Strike has announced that it will allow U.S. customers to buy and sell Bitcoin with almost no trading fees — taking on the likes of Coinbase, Square and PayPal.Strike’s founder and CEO Jack Mallers says his platform is setting out to be the “cheapest and easiest place on the planet to acquire BTC.”Mallers has taken aim directly at Coinbase too, describing Coinbase’s fees as “asinine.” He added: “Make no mistake, when you buy Bitcoin on Coinbase, you are supporting shitcoins.”In other developments, Coinbase has revealed that it plans to list digital assets on its exchange faster than it does now. And as the exchange seeks to bolster its global presence, it’s going to launch a crypto app store offering products developed by third parties.Meanwhile, Robinhood has filed an application with the U.S. Securities and Exchange Commission for an initial public offering. That application came a day after regulators ordered the company to pay a $70 million penalty, amid allegations it caused “widespread and significant harm” to thousands of users. Elon Musk’s latest attempt to pump Dogecoin fails miserablyDogecoin prices surged but did not skyrocket after receiving another endorsement from Tesla CEO Elon Musk on Thursday.Musk’s first tweet declared “Release the Doge!” — sending the joke cryptocurrency up 8.42% to $0.261. A sell-off followed suit, taking DOGE/USD down to $0.247.Less than an hour later, Musk tweeted a rather unusual message that said: “Baby Doge, doo, doo, doo, doo, doo, Baby Doge, doo, doo, doo, doo, doo, Baby Doge, doo, doo, doo, doo, doo, Baby Doge.”DOGE/USD subsequently rose 5.22% to $0.26 after the second tweet.This is modest compared with the wild gains we’ve seen after Musk’s tweets in the past.Winners and Losers At the end of the week, Bitcoin is at $34,544.52, Ether at $2,219.30 and XRP at $0.2469. The total market cap is at $1,433,529,255,589.Among the biggest 100 cryptocurrencies, the top three altcoin gainers of the week are XinFin Network, Compound and Internet Computer. The top three altcoin losers of the week are Celo, Theta Fuel and Revain.For more info on crypto prices, make sure to read Cointelegraph’s market analysis. Most Memorable Quotations“Make no mistake, when you buy Bitcoin on Coinbase, you are supporting shitcoins.”Jack Mallers, Strike CEO “I did suggest to the President that whatever Salvador chooses to do with regards to Bitcoin, you ensure that it is well regulated, that it is transparent and that it is responsible, and you protect yourself against malign actors.”Victoria Nuland, U.S. State Department “While I believe in the power of new technology, we also need to manage its impact on our economy and society.”Rishi Sunak, U.K. Chancellor “The ‘Rick Astley’ is the holder that keeps buying and never tends to sell much.”Willy Woo, Bitcoin analyst “140 free NFTs for 140 of you, besties.”Twitter “A good currency, in my view, is one that’s used to buy coffee, buy your house, buy a car, and on that count, Bitcoin has failed, and not just failed, it’s failed miserably.”Aswath Damodaran, New York University professor of financePrediction of the Week 44% of investors expect Bitcoin to drop below $30K in 2021: CNBC surveyA recent CNBC survey suggests 44% of portfolio managers and equity strategists think Bitcoin will be below $30,000 by the end of this year.Out of the remaining 56%, 25% predicted the price to shoot up and settle at $45,000…

Why Ethereum (ETH) Key Indicators Suggest Fresh Drop Below $2K

Armani Bins3 years ago2 years ago04 mins

Ethereum failed to stay above $2,100 and it is now moving lower against the US Dollar. ETH price is likely to continue lower and it could even break $2,000. Ethereum started a fresh decline from well above the $2,200 support zone. The price is now trading below $2,100 and the 100 hourly simple moving average. There was a break below a major bullish trend line with support near $2,100 on the hourly chart of ETH/USD (data feed via Kraken). The pair could decline heavily if there is a break below the $2,000 support zone in the near term. Ethereum Price Is Gaining Bearish Pace After struggling to stay above $2,250, ethereum started a fresh decline. ETH broke the $2,200 and $2,150 support levels to move into a short-term bearish zone. The price gained pace below the $2,150 level and it even broke $2,120. There was a break below the 23.6% Fib retracement level of the upward move from the $1,718 swing low to $2,289 high. There was also a break below a major bullish trend line with support near $2,100 on the hourly chart of ETH/USD. The pair is now trading below $2,100 and the 100 hourly simple moving average. An immediate support on the downside is near the $2,050 level. The first major support is near the $2,000 level. Source: ETHUSD on TradingView.com The 50% Fib retracement level of the upward move from the $1,718 swing low to $2,289 high is near the $2,000 level. If there is a clear break below $2,000, the price could decline heavily. In the stated case, the price could dive towards the $1,850 level. The next major support on the downside is near the $1,700 level. Fresh Increase in ETH? If Ethereum stays above the $2,050 support zone or $2,000, it could start a fresh increase. An immediate resistance on the upside is near the $2,120 level and the 100 hourly SMA. The main breakout resistance is now forming near the $2,150 and $2,160 levels. A close above the $2,160 level could start a major increase towards the $2,250 level or even $2,320 in the coming sessions. Technical Indicators Hourly MACD – The MACD for ETH/USD is slowly gaining pace in the bearish zone. Hourly RSI – The RSI for ETH/USD is currently below the 50 level. Major Support Level – $2,000 Major Resistance Level – $2,150

Bitcoin Price Reaches Key Support, Why BTC Could Start Fresh Increase

Armani Bins3 years ago2 years ago04 mins

Bitcoin price is correcting gains from well above $35,000 against the US Dollar. BTC is approaching a major suppot near $32,350, where the bulls might take a stand. Bitcoin started a downside correction from the $36,650 zone. The price is now trading below $34,500 and the 100 hourly simple moving average. There is a key bearish trend line forming with resistance near $33,800 on the hourly chart of the BTC/USD pair (data feed from Kraken). The pair is likely to start a fresh increase as long as there is no close below $32,000. Bitcoin Price is Approaching Support Bitcoin failed to stay above the $35,000 support zone and it started a fresh decline. BTC broke the $34,000 support zone to move into a short-term bearish zone. There was also a break below the 50% Fib retracement level of the upward move from the $30,185 swing low to $36,698 high. It is now trading below $34,500 and the 100 hourly simple moving average. There is also a key bearish trend line forming with resistance near $33,800 on the hourly chart of the BTC/USD pair. An immediate support on the downside is near the $32,650 level. It is near the 61.8% Fib retracement level of the upward move from the $30,185 swing low to $36,698 high. Source: BTCUSD on TradingView.com The next key support is near the $32,000 zone. If there is a downside break below the $32,350 and $32,000 support levels, the price could continue to move down. In the stated case, the price might decline towards the $30,200 zone. Any more losses may possibly push the price towards the $29,000 support zone. Fresh Increase in BTC? If bitcoin remains stable above the $32,000 support zone, it could start a fresh increase in the near term. An immediate resistance on the upside is near the $33,800 level and the trend line. The next key resistance is near $34,000, above which the price could test the 100 hourly SMA at $34,500. Any more gains could lift the price towards the $35,000 resistance. In this case, the bulls could even aim a fresh test of $36,500. Technical indicators: Hourly MACD – The MACD is slowly gaining pace in the bearish zone. Hourly RSI (Relative Strength Index) – The RSI for BTC/USD is now below the 50 level. Major Support Levels – $32,350, followed by $32,000. Major Resistance Levels – $33,800, $34,000 and $34,500.

Ethereum Remains Strong, Why ETH Could Rally Above $2.3K

Armani Bins3 years ago2 years ago03 mins

Ethereum is trading in a positive zone above the $2,150 support zone the 100 hourly SMA against the US Dollar. ETH price is likely to rally if there is a clear break above $2,300. Ethereum is trading in a positive zone above the $2,100 and $2,150 support levels. The price is now trading above $2,100 and the 100 hourly simple moving average. There is a key bullish trend line forming with support near $2,140 on the hourly chart of ETH/USD (data feed via Kraken). The pair start a fresh rally above $2,300 as long as it is above the $2,000 support zone. Ethereum Price Is Showing Positive Signs After forming a base above $2,000, ethereum started a steady increase. ETH broke the $2,200 resistance zone and it settled nicely above the 100 hourly simple moving average. The price even spiked above the $2,250 resistance level. However, the price seems to be struggling to gain pace above $2,250, similar to bitcoin. A high is formed near $2,285 and ether is now correcting lower. There was a break below the $2,250 and $2,240 levels. The price is now testing the 50% Fib retracement level of the upward move from the $2,094 swing low to $2,285 high. The next major support is near the $2,165 level. Source: ETHUSD on TradingView.com There is also a key bullish trend line forming with support near $2,140 on the hourly chart of ETH/USD. The trend line is close to the 76.4% key bullish trend line forming with support near $2,140 on the hourly chart of ETH/USD. Any more losses might call for a test of the second trend line at $2,070. More Upsides in ETH? If Ethereum stays above the $2,150 support zone, there are high chances of a fresh increase. An immediate resistance on the upside is near the $2,250 level. The main breakout resistance is now forming near the $2,285 and $2,300 levels. A close above the $2,300 level could start a major increase towards the $2,500 level or even $2,550 in the near term Technical Indicators Hourly MACD – The MACD for ETH/USD is slowly losing pace in the bullish zone. Hourly RSI – The RSI for ETH/USD is currently above the 50 level. Major Support Level – $2,150 Major Resistance Level – $2,300

Bringing contemporary pop art to an NFT metaverse – Cointelegraph Magazine

Armani Bins3 years ago2 years ago016 mins

The realm of metaverses is growing, with gaming, nonfungible tokens and contemporary performance art all contributing to create interactive and immersive digital-only ecosystems. “Welcome to Lobsteropolis District of Lobster Land” is the welcome notice that greets netizens upon entering Lobsteropolis city.Existing within the blockchain-based virtual world Decentraland, Lobsteropolis is a digital-only city based on British contemporary artist Philip Colbert’s Lobster Universe. The ambitious project offers arguably more than a glimpse into the emerging movement at the intersection of art and blockchain technology, more specifically, open-world spaces that allow people to interact with art inside a computer-generated environment. Welcome to Lobsteropolis; Philip Colbert’s digital pop art world set in the Decentraland. Born in Scotland and now living and working in London, Colbert is an alumnus of the University of St Andrews. Before coming about the idea of Lobsteropolis City in a metaverse, Colbert was already a name in the pop art world, with former Vogue editor André Leon Talley anointing him the “godson” of legendary pop art figure Andy Warhol.Colbert’s work, steeped in the pop art ethos of “high art” and “low culture,” has already attracted praise from major art world figures such as the famous auctioneer and curator Simon de Pury and Iraqi businessman and contemporary art collector Charles Saatchi. Fashion and style bible i-D Magazine once called him “the crown prince of pop art.”All are welcomeNonfungible tokens (NFT) have become significantly more popular in recent times, and NFT art is arguably a ubiquitous term even for those unfamiliar with the crypto and blockchain space. These days, almost anyone can “mint” an art piece and sell it on an NFT marketplace such as SuperRare.Disruption was and still is a major buzzword that comes up whenever blockchain is the topic of discussion. Perhaps it is not surprising then to see the novel tech serve as the base layer for innovative approaches to gallery exhibitions.Lobsteropolis City is home to Colbert’s first wholly digital art exhibition, with some of his popular works such as Lobster Fountain and Cryptofixtion on display. Visitors will also be treated to a few unseen pieces from Colbert as part of the NFT art auctions hosted by de Pury. Colbert’s lobster persona is ready to welcome visitors to Lobsteropolis One of these unseen NFTs is a hybrid artwork and musical performance titled Lob-Ster De-Vo created in collaboration with the American new wave band Devo. The rock band’s theme of devolution has often leaned heavily on multi-media expression that has perhaps become a staple in the emerging narrative of contemporary art in the 21st century.In Lobsteropolis, Colbert’s lobster persona is once again an “art protagonist” in a rendering that seems simultaneously to be an art show and an expression of the artist’s world. “Through my art, I’ve been building my own art world where my lobster persona is the key narrator, and the digital space enables me to explore this narrative in a new way,” he explains in a conversation with Cointelegraph Magazine.Colbert calls the digital city, three years in the making, a “labor of love”:“I have an amazing team who help me with the coding and the uploading to Decentraland, and the Vegas City team have been a huge help with the programming. The digital side of my work has been very much a labor of love — I have been building this infrastructure for some time.”Pop art becomes digitalLobsteropolis features composite elements of Colbert’s work from several international museum shows and exhibitions including his famous 2020 Saatchi Gallery exhibition. However, the city is not only an art exhibition but an interactive open-world space for digital interaction.Even before the onset of COVID-19, advancements in both virtual reality and augmented reality have been pushing the boundaries of digital interaction. Immersive gaming landscapes already exist where users can create avatars to experience and explore sprawling digital environments rich with features ranging from real-world digital natives to even more fantastical elements.Visitors to Lobsteropolis have a plethora of options to explore within the city. “One of the attractions is Lobster Lounge: a concert venue for avatar bands and an event space where avatars can hold talks,” Colbert says, adding:“There’s a strong gameplay aspect throughout Lobsteropolis City where avatars can interact with other people and create a layer of fantasy.”Set in Decentraland’s Vegas City, Colbert’s digital lobster land, of course, plays home to a casino. “There’s also a casino, where avatars get given lobster coins, and they can play blackjack and play slot machines and buy digital products in my supermarket,” Colbert says. Lobster City casino where visitors can play blackjack and slot machines with lobster coins. Colbert, by his own admission, is obsessed with the crossover of art and music. According to him, the NFT space is creating a platform for the synergistic melding of both art forms in a “revolutionary way.”Apart from co-creating the Lob-Ster De-Vo NFT piece, the music band will also perform a live DJ set at the Lobster Land Records store, which is adjacent to the Lobster Land Museum — the venue for the auction hosted by de Pury.Colbert’s collaboration with the band to create Lob-Ster De-Vo will be a central piece of the inaugural auction event on June 30. According to the artist, the Lob-Ster De-Vo NFT artwork explores the role of digital ideology in the emerging virtual-oriented era of human interaction. For Colbert, the Lob-Ster De-Vo NFT is an examination of the role art plays as humanity appears to be moving toward a more mature digitized space. The piece also pays homage to Devo’s iconic 1981 hit “Through being cool” — especially the three crucifixions theme.Colbert recalls his early experimentation with NFTs and how that experience led him toward Lobsteropolis as a digital city: “The first NFT I made was called Cryptofixtion. I’d been wanting to make a lobster crucifixion sculpture, inspired by studying Dali’s paintings and engaging with the idea of technology as a new religion.” Venues like Lobster Mart and Lobster Land Records help users to create “a layer of fantasy” Modern-day philosophy is indeed replete with musings about the entanglement of technology…