From perceiving that the Bitcoin market is still quite healthy, to seeing 60 cryptocurrency exchanges in South Korea that have been forced to announce a temporary shutdown. Here are some highlights from the crypto market.
Bitcoin (BTC) hovered around $ 48,000 on Friday as hopes of a bull run continued thanks to the low supply.
Data from Cointelegraph Markets Pro and TradingView showed that BTC / USD continued to pile up on Friday, with the latest options contracts now expiring.
The pair has not seen overwhelming price action since the $ 47,000 rebound the day before, but analyst bullish expectations remain intact.
This is a “supply shock” leading to soaring prices that occurs at a time when demand is increasing while long-term owners already own nearly 80% of the supply.
“Keeping the altcoin supply in mind and the upcoming ETF season will likely be the main driver for the market,” noted trader Pentoshi as part of his comments on the BTC price outlook.
$ BTC Tell me that wasn’t a perfect bull flag in a perfect S / R test in demand
Outbreak can reclaim PoB = moon soon
Keep in mind that the alternative offering and the upcoming ETF season are likely to be the top drivers + disclosures
4 hour chart below pic.twitter.com/1Em8mMXhOj
– Pent ◎ shi doesn’t want you DM (@ Pentosh1) 17.09.2021
Dealer Michaël van de Poppe, too identify similar to the current market situation.
“I think you shouldn’t worry about the market consolidating now. It’s still pretty healthy. Altcoins are still strong. Great months are coming for the crypto market. “
Looking at the buy and sell levels on the Binance exchange, there is resistance above $ 48,600, which has since declined during consolidation.
According to tweets from Whale Alert, a large amount of XRP worth $ 134,133,760 has been moved in the past 11 hours.
Ripple sent 15 million and 25 million XRP to its RL18-VN wallet address, which is commonly used to send XRP to partners, customers and exchanges, for sale or for liquidity support of the XRP market.
Ripple moves 40 million XRP | Source: Whale Alert
The largest possible move carry out by ByBit for the transmission of 52,027,950 XRP to Binance.
Huobi, China’s largest crypto exchange, also sent 40 million XRP to Binance.
The remaining large transaction was made by the crypto-custodian service BitGo, which transferred 15,000,000 XRPs to Bitstamp.
Although a large number of smart contracts have now been introduced on the Cardano (ADA) platform, almost all of them are in an unusable state.
– Paco Roy (@ThePacoRoy) 17.09.2021
Specifically, after the Alonzo upgrade on September 13, more than 200 smart contracts were listed in the Cardano blockchain browser.
Smart contracts have been a long-awaited feature of Cardano since its launch in 2017, and the functionality has finally been activated.
Kyber Network is introducing an automated market maker (AMM) for Avalanche as part of its $ 180 million base-class incentive program.
– Kyber Network (@KyberNetwork) 17.09.2021
Kyber aims to provide DeFi users on Avalanche with dynamic loading and greater capital efficiency. The project launches a $ 5.8 million liquidity mining incentive program, a popular tool for DeFi projects looking to attract users with attractive returns from tokens.
Kyber has implemented the “Dynamic Market Maker” protocol on Ethereum, Polygon and Binance Smart Chain (BSC).
“We chase the user. Any ecosystem with a growing community, the project will be there, ”said Luu The Loi, Co-Founder and CEO of Kyber Network.
The Avalanche NFT ecosystem has piqued the interest of the crypto community thanks to its partnership with Topps, which launched the digital NFT collector series “Inception” on the network.
the @AaveAave Proposal is live!
– Avalanche (@avalancheavax) September 15, 2021
In addition, the Aave community will vote on whether investors would like AAVE to be introduced in the Avalanche network.
The approval vote could result in TVL on Avalanche spiking as assets held as AAVE on Ethereum are likely to migrate to AAVE on Avalanche.
Stakin notification on providing staking support for the KILT protocol.
KILT is a blockchain identity protocol that provides sovereign, anonymous, and verifiable credentials for Web 3.0.
As mentioned in the announcement, a collaborator can have up to 25 proxies. In addition, the block reward is paid to the employee, the creator of an actual block, and the delegators who support it. At the beginning, the matcher’s reward can be up to 10% per year on his stake amount for the first year. After that, the premium rate drops by 2% per year.
SolBlocks, the fusion arts platform on Solana (SOL), has announced the launch of a new NFT collection called SolBlocks Series I (Fidenza). The team says they will be using the same algorithmic script that Fidenza artist Tyler Hobbs uses. As a result, a dispute broke out between the two sides.
They are definitely not copies. You’re new, everyone said it – new hashes = new issues.
We’re not saying we’re not pirates of Hobbs’ Code. But at least we’re honest pirates.
We have officially decided to share a portion of all income with artists whose code we use.
– SolBlocks (@Sol_blocks) September 15, 2021
The crux of the matter starts with SolBlocks on the one hand claiming to be using Tyler Hobbs’ algorithm, but insisting that the works in this collection will not be copies of Fidenza’s artwork, but rather a SolBlocks “library” of their own.
Fidenza’s NFT works have grown in importance recently due to the rising asking price and the attraction of many investors to participate in the auction. First launched in June 2021, the Fidenza Collection includes 999 different NFT artworks. Each piece is created using an algorithm to form rectangular and square patterns with unique design colors.
Each work has a different mystical element and thus brings with it its own diverse attraction. This was demonstrated last month when Fidenza # 313 sold for 1,000 ETH, or $ 3,350,000 then.
60 cryptocurrency exchanges in South Korea had to announce a temporary closure.
About 60 crypto exchanges currently operating in South Korea duty must inform their customers of the suspension of trading no later than September 17th, one week before the new regulations come into force.
To continue operating in the country, exchanges must verify with the Financial Intelligence Unit (FIU) and submit security certificates to the cybersecurity agency by September 24th. In addition, every digital asset exchange must partner with every regulated bank in the country.
If an exchange has not registered by September 24th, it must cease operations domestically. All services offered by this exchange are prohibited. Registered exchanges that have not partnered with banks will not be able to open trading pairs with won.
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