From the assumption that Bitcoin will still grow strongly at the end of 2021, to ETH, which forms a bullish pattern. Here are some highlights from the crypto market.
During an appearance on Wednesday at CNBC, Galaxy Digital CEO Mike Novogratz said that Bitcoin will see another bull run by the end of 2021.
Novogratz believes the market is currently in “accumulation mode” and adds that it is important for Bitcoin to maintain the $ 40,000 level.
In conversation with CNBC, #GalaxyDigital CEO Mike Novogratz shared his prediction of when the new Bitcoin (BTC) rally will begin.
– BitBoyPupil (@BitBoyPupil) September 29, 2021
However, he did not rule out the possibility that the leading cryptocurrency could return to the $ 38,000 level before it saw stronger growth. He currently predicts that the market will continue to fluctuate unstably in the near future.
Bitcoin “effectively replaced gold”.
Chamath Palihapitiya, CEO of Social Capital, recently announced at the CNBC Delivering Alpha conference that Bitcoin has “effectively replaced gold”.
Palihapitiya expects Bitcoin’s market capitalization to continue growing. However, the billionaire declined to give concrete price predictions in conversation with Scott Wapner.
– Deliver alpha (@DeliveringAlpha) September 29, 2021
Bitcoin has to climb above $ 48,000 to get into hypergrowth.
Experienced Analyst and Trader, Tone Vays, called itself is waiting for Bitcoin to reach a key level before going into a “hyperbullish” state. He said Bitcoin is sending mixed signals right now.
Vays says Bitcoin bulls will need to push the leading cryptocurrency above $ 48,000 to get back on the move as this will help BTC break both moving averages and bring us very close to previous ATH levels.
Ethereum’s recent high, which was $ 4,400 in April, may not be the culmination of a bull cycle.
Although the ETH / USD trading pair appears to be in bearish and sentiment is extremely fearful, the altcoin is making a higher low in the daily timeframe, which is $ 1,000 above the low set a few months ago. This has caused ETH to form an ascending triangle pattern on the trading pair.
ETH price chart | Source: TradingView
If the support holds, an upward movement occurs. The ascending triangle pattern is an indicator that traders recognized earlier before Ethereum rose from $ 380 to $ 1,400. The goal of the structure this time around will help the ETH price move towards $ 10,000.
But all of this is only possible if ETH sticks to the lowest rising trend line and then breaks through the resistance. Without this confirmation, the pattern would be invalid and the market could instead plunge into a steep decline.
According to the Whale Alert platform, there have been three large crypto transactions involving 20,215,222 XRP, 60,000,000 XRP and 77,516,150 XRP in the past few hours.
Binance received 77.5 million XRP from Bybit and sent 60 million XRP to Huobi. For the transaction of 20.2 million XRP, the total amount of this cryptocurrency was transferred from Bitstamp to the BitGo depository platform.
Large amount of XRP moved | Source: Whale Alert
The leading eSports platform Rival has officially announced a partnership with Cardano to establish a stable franchise NFT platform on Rival.
News: Rivale and Cardano Team Up to Create NFT Marketplace
Rival has announced a partnership with Cardano to create an NFT platform that will support franchises fromhttps://t.co/WhEaMEbOPP#Cardano #CardanoADA #CardanoNFT #NFT #Rival #catch coins pic.twitter.com/26x3mOEzcd
– CoinsCapture (@CoinsCapture) September 30, 2021
Cardano will facilitate the sale of NFTs, the ability to create, distribute, trade NFTs for physical goods, and market-based royalties within the Rival platform.
The news was first announced at the Cardano Summit, which also revealed a multitude of partnerships aimed at bringing about positive change on a global scale.
1inch started on September 29th Partition US IP address. This step is intended to pave the way for new products in the land of flags.
According to the 1inch Foundation, the majority of the funds raised in the $ 175 million Series B investment round will be used to develop and launch the 1inch Pro product, which is specifically designed for the US and institutional markets.
Billy Markus, software engineer who co-founded DOGE with Jackson Palmer in 2013, suggested two things that could make Dogecoin a more common cryptocurrency and attract more users to the ecosystem.
According to Markus, Dogecoin will improve once the bridge between DOGE and Ethereum is completed.
The latter is the most popular meme cryptocurrency that is approved as a means of payment by NFT trading platforms such as Opensea. When you use DOGE to buy NFT it becomes a coin of many uses.
Two things I think would help Dogecoin:
1) Completion of the DOGE-ETH bridge
2) NFT platforms (e.g. Opensea) enable the DOGE-ETH token to be used for purchases
Buying NFTs is in high demand in crypto. Allowing DOGE purchases from NFTs greatly increases the utility.
– Shibetoshi Nakamoto (@ BillyM2k) September 29, 2021
The judge of the class action filed in New York against stablecoin issuer Tether and crypto exchange Bitfinex dismissed many of the lawsuits in this case.
Corresponding document In a lawsuit filed Tuesday, Judge Katherine Polk Failla called on iFinex, the parent company of Tether and Bitfinex, to dismiss claims in plaintiffs’ lawsuit that the two companies had manipulated the money markets.
In particular, the judge said she would not allow investors to bring claims against Tether and Bitfinex under RICO law, as well as allegations related to fraud or use of proceeds from the sale.
The Market Maker Compound Platform (COMP) moves into the focus of the DeFi community when it appears to have a bug with losses of up to $ 80 million after upgrading.
The voting starts in 1 day.
– Compound Labs (@compoundfinance) September 23, 2021
Early in the morning of September 30th, Compound launched Proposition 062, which would mandate different COMP reward rates for liquidity providers and borrowers, rather than using a 50/50 split model as in the past to avoid the case of negative interest rates .
Proposal 062 was first announced on September 24th, and after a 7-day voting period, it was adopted by the compound community with an overwhelming majority.
Liquid Network has announced that it will upgrade its Dynamic Federations (DynaFed) protocol on October 4th.
Liquid is a sidechain-based payment network for traders and exchanges. It claims that Bitcoin transactions on Liquid are fully processed within two minutes, which allows for faster transactions on the network.
DynaFed will be the largest upgrade to the Liquid sidechain to date. It is expected to improve the network’s decentralization, security, and flexibility.
A tough fork for @Liquid_BTC will be activated next Monday, Oct. 4 to prepare the tour #Bitcoin Sidechain for its biggest upgrade to date, Dynamic Federations (DynaFed). Find out more about the update and update your Elements nodes! 🌊 https://t.co/qQdyHY2Pn4 pic.twitter.com/cLwfrR5fsk
– Blockstream (@Blockstream) September 29, 2021
News Decentralized social
DESO, the token of the decentralized social project, has risen by more than 90% in the last seven days. The asset, ranked 75th by market capitalization, is currently trading at $ 148.
DESO price chart | Source: CoinGecko
According to the project’s website, Decentralized Social aims to be a “custom blockchain designed to expand and grow the portfolio of decentralized social network applications to one billion users”.
In the week leading up to DESO’s launch, entrepreneur and software engineer Nadir Al-Naji announced that he is also the creator of BitCloud. Al-Naji has received $ 200 million for the new project from several venture firms including Andreessen Horowitz, Sequoia, Social Capital, TQ Ventures, Coinbase Ventures, Winklevoss Capital, Polychain Capital, Pantera Capital and Arrington Capital.
The first ETF to combine Bitcoin and Ethereum is launched in Canada.
EvolveETF, a Canadian ETF provider, has just launched Canada’s first ETF. The product is supported by the two largest cryptocurrencies by market capitalization, Bitcoin and Ethereum.
EvolveETF has notification This week the new fund began trading on the Toronto Stock Exchange (TSX) under the tickers “ETC” and “ETC.U”.
ETC is not directly supported by Bitcoin or Ethereum. Instead, it will hold shares in the existing single crypto funds “EBIT” and “ETHR” from EvolveETF.
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