The comment indicates that Bitcoin is heading into the $ 50,000 region until SOL and UNI are added to Grayscale’s portfolio. Here are some highlights from the crypto market.
Popular trader John Bollinger, who invented the Bollinger Bands indicator, noticed Bitcoin’s recent short squeeze, which took the cryptocurrency to its highest level since September 22nd.
Now that Bitcoin has surpassed Bollinger’s first target, he expects the top coin to soar to the top of the gang, which is just below the $ 50,000 mark.
$ btcusd, first goal achieved and exceeded. The second destination is the upper Bollinger Band, just under 50,000. You’re doing that trailing stop, aren’t you?
– John Bollinger (@bbands) October 1, 2021
Bitcoin rebounded the day after traders spread the word El Salvador. This morning, the cryptocurrency retested the USD 48,000 level, eliminating any losses caused by the Evergrande crisis and the growing crackdown on cryptocurrencies in China.
Bitcoin Price Chart | Source: Coinmarketcap
According to a tweet by Chinese crypto blogger Colin Wu, the Huobi exchange has shared some details about its withdrawal from the Chinese market.
Huobi announced the details of his withdrawal from China. The deposit function will cease on December 14th, spot trading on December 15th and fiat (CNY) trading on December 31st. Non-Chinese users are not affected. pic.twitter.com/HJc6PQBU0B
– Wu blockchain (@WuBlockchain) October 2, 2021
The first service the exchange stopped offering was deposit. Users will no longer be able to run this service on December 14th. Trading will be banned the next day (December 15th) and trading in the Chinese yuan (CNY) will cease on December 31st.
According to data from Whale Alert, major whales and leading exchanges have made about ten Ethereum transfers totaling 214,861 tokens valued at $ 706 million in the past twenty hours.
The largest transfers include between 51,300 ETH ($ 169 million) and 42,859 ETH ($ 146 million).
Source: Whale Alert
According to Whale Alert, Ripple has returned 60% of the unlocked 1 billion XRP to the escrow account. Ripple also sent 90 million XRP to ODL corridors. Of this, 40 million XRP were transferred to one of Ripple’s alternative wallets RL18-VN. 50 million XRP have been sent to Ripple’s ODL corridors in Mexico, Luxembourg and the Philippines.
After Ripple withdrew 1 billion XRP monthly from the escrow account on October 1st according to the schedule, Ripple transferred 600 million of this amount back and blocked it. Typically 800 million to 900 million XRP are returned to the escrow account, but less this time for reasons unknown.
Source: Whale Alert
News Umbrella Network
The decentralized oracle service Umbrella Network was officially launched on Ethereum on Friday and prepares the stage for cross-chain transactions between the smart contract platform and Binance Smart Chain or BSC.
– Pieter Nierop (@nierop_pieter) October 1, 2021
The bridge between Ethereum and BSC was developed internally in the Umbrella Network, reflecting the growing need to transfer tokens and other crypto assets between the two networks.
The cross-chain bridge also allows users to stake out and farm crypto tokens on both blockchains. Umbrella plans future cross-chain integrations with Polygon, Solana, Cardano and Avalanche.
News Solana and Uniswap
Grayscale Investments, a New York-based crypto asset manager, added Solana (SOL) and Uniswap (UNI) after rebalancing the Grayscale Digital Large Cap Fund (GDLC) portfolio.
GDLC’s quarterly rebalancing is done by selling the portfolio’s existing assets for cash and effectively buying additional crypto assets.
Based on the correction, Solana and Uniswap account for 3.24% and 1.06%, respectively, of the fund composition, while Grayscale further reduces the holdings of Litecoin (LTC) and Bitcoin Cash (BCH).
We just announced the updated fund component weights for the Grayscale Digital Large Cap Fund, which are now #Solana ($ SOL) and #Uniswap ($ UNI). This is the first time SOL has been included in a Grayscale investment vehicle. Read this thread for more. (1/5)
– grayscale (@grayscale) October 1, 2021
Cardano lost its position as the third largest cryptocurrency by market capitalization on Thursday. When the market took a hit, Tether dropped to third place while BNB and ADA traded in the red. But this event lasted only a short time.
Hours after Tether finished third, the market has started to rebound. Bitcoin saw a rebound of up to 10% and the altcoin market quickly followed suit. ADA’s market cap skyrocketed, bringing its total capitalization to over $ 70 billion. Push Tether back to fourth place.
The ADA rally will remain under threat from the bears until the asset finds a strong hold after the price surge. Keeping the price in the $ 2.2 trading range is vital for ADA to get into the $ 2.50 range.
The RPG inspired by the anime WonderHero has will the first incubated project by Polkastarter Labs, Polkastarter’s newly formed investment arm.
The players, who represent the last survivors of the nuclear war, must return to earth and fight wild monsters.
You can collect NFTs in the form of heroes, weapons, and other items and then sell them to other collectors on the NFT Marketplace. WonderHero Marketplace will launch in October.
The game has an AND governance token that can be used to purchase weapons, heroes, and items. To start playing, the user must buy their hero and weapon.