From the perception that $ 30,000 has become a resistance for Bitcoin, OKEx comes and Kraken has announced the listing of KAR, Kusama’s first parachain. Here are some highlights from the crypto market.
Bitcoin news
Bitcoin rallied slightly after the July 20th sell-off.
The world’s largest cryptocurrency rose to $ 30,923 at 12:39 GMT on the Bitstamp exchange.
However, gold bug Peter Schiff thinks the Bitcoin market is still in a downtrend.
Let’s see if it holds $ 30,000. Rallies above $ 30,000 can be resistance now.
– Peter Schiff (@PeterSchiff) July 21, 2021
In his most recent tweet, he said the $ 30,000 area has now become a resistance for Bitcoin.
Schiff also noted that Bitcoin “fell” on Tuesday while other risk assets rallied.
Bitcoin is still the best performer in the crypto market
Bitcoin remains the best performer in the crypto market, according to a recent report by Arcane Research, with BTC dominance increasing as altcoins drop to their support levels.
Bitcoin is still the best performer in the crypto market | Source: Arcane Research
Bitcoin’s dominance at the time of publication is 46.92%, while ETH follows at 16.96%. USDT (5.12%), BNB (3.72%), ADA (2.86%) outperformed XRP (2.05%) and DOGE (1.82%).
The graph above shows the Bitcoin retracement since the beginning of July 2021 at 11.2%. Large-cap coins have lost 18.5% while small-cap tokens have lost 19.6%. Mid-cap coins fell the most, -22.4%.
ARK continues to buy more shares in GBTC
According to the file Trading is published daily, Cathie Woods ARK Invest bought an additional 140,157 Grayscale Bitcoin Trust shares for the ARK Next Generation Internet ETF on Tuesday.
It did after the popular asset management company added 310,000 GBTC shares on Monday.
The ARK Next Generation Internet ETF, which primarily offers technologies such as artificial intelligence, big data, deep learning and blockchain, currently owns 9 million GBTC shares with a total market value of $ 216 million.
Bitcoin is likely to continue to decline
The experienced commodity analyst and trader Peter Brandt has published a Renko diagram for the leading cryptocurrency Bitcoin.
This chart, sourced from Japan, shows Bitcoin’s rally to $ 65,000 and the decline that has occurred since April, both as strong trends.
The graph shows that BTC’s uptrend ended on April 14th at a high of $ 64.863 and has since moved into negative territory.
Originally from Japan, Renko charts are probably the best way to stay on trend and not be misled by short-term volatility. As shown for $ BTC #Bitcoin, the trend was steady from $ 6,000 to $ 60,000. This has been the decline since April pic.twitter.com/BLi8LpKviy
– Peter Brandt (@PeterLBrandt) July 20, 2021
News torch
Hugo Philion, co-founder and CEO of Flare Networks, the self-help group for the Flare Blockchain (FLR), posted a detailed article about the “rehearsal” before the Flare mainnet officially goes live.
According to the blog post, Flare (FLR) engineers will test some of the network’s functionality in an isolated environment. Therefore Flare (FLR) will launch its Canarian network Songbird in the next six weeks.
– Flare (@FlareNetworks) July 20, 2021
news
The United Nations Global Compact, a pact designed to encourage companies to pursue sustainable social development policies, has accepted the participation of the non-fungible tokens (NFT) and the blockchain gaming platform Enjin.
On Tuesday it was Enjin notification that they will seek to use the NFT to promote equitable and sustainable development as part of the United Nations Treaty.
The United Nations Global Compact, a pact designed to encourage companies to pursue sustainable social development policies, has accepted the participation of the non-fungible tokens (NFT) and the blockchain gaming platform Enjin.
On Tuesday, Enjin announced that it would use the NFT to promote equitable and sustainable development under the UN Treaty.
The company proposes to use blockchain technology to fight climate change by deploying it in carbon storage companies while reducing the global gap between rich and poor and allowing creators around the world to access the NFT market.
Crypto.com news
in the notification On Tuesday, Crypto.com announced that it had started a test network chain for the Ethereum Virtual Machine (EVN). The chain called Cronos will partner with the Crypto.org chain.
The chain is designed to give developers the ability to migrate projects from Ethereum and EVM compatible chains to the Crypto.org ecosystem to give users better access to DeFi features such as smart contracts.
Litecoin news
According to Bybt.com, Grayscale’s Litecoin Trust (LTCN) is currently trading at a premium of 463.95%.
Grayscale has also accumulated 583 Litecoins in the last 7 days, totaling 31,120 LTC in the last month. Additionally, Grayscale Litecoin Trust currently holds a total of 1.55 million LTC, valued at approximately $ 168.45 million.
Grayscale accumulates more LTC | Source: grayscale
Tether news
In a July 20 interview, Jim Cramer, host of CNBC’s Mad Money, questioned Tether’s lack of transparency and asked why the company did not disclose the amount of commercial papers.
Has tether announced a brief reserve analysis dated May 13, without mentioning an independent review conducted on behalf of the company.
Tether’s reserve structure shows that as of March 31, three quarters of its reserves are held in cash, cash equivalents, other short-term deposits and commercial paper. Commercial paper accounted for 65.39% of this, and 3.87% for cash alone.
FTX messages
FTX cryptocurrency derivatives exchange said it bought and burned $ 2.4 million worth of FTT.
We bought and burned another $ 2.4 million worth of FTThttps://t.co/1fCYVc7uao pic.twitter.com/M4clUkHNPQ
– FTX – Built by dealers for dealers (@FTX_Official) July 21, 2021
News MakerDAO
MakerDAO plans to finalize its decentralized governance roadmap with the liquidation of its fund in the coming months.
The MakerDAO decentralized financial protocol announced that the project’s funds will be officially liquidated in the coming months, one of the final milestones on the exchange’s path to decentralized governance.
One final message from the Maker Foundation from CEO Rune Christensen (@RuneKek):https://t.co/qG27L8wQzf
– Creator (@MakerDAO) July 20, 2021
According to a blog post on July 20, Maker’s Decentralized Autonomous Organization (DAO) is currently “completely self-sufficient” with a globally distributed community “responsible for all operations”.
USDC news
Circle and Mastercard today announced pledges to use USDC to facilitate crypto-to-fiat conversions in the pilot program to expand the capabilities of crypto issuers and companies to allow customers to spend their money on their crypto assets.
Accordingly, Visa will test the use of USDC to make it easier for card issuers to set up Mastercard payments in order to increase the use of internet-based financial infrastructures.
news
Dotmoovs (MOOV) have debut New staking pool on BSC and ERC-20.
Users can now stake out and burn their MOOV for APY in both chains. The same amount is distributed as a reward and each staker receives a reward based on the amount of MOOV they burned.
SushiSwap news
The SushiSwap (DEX) decentralized exchange is preparing to launch a new automated market maker (AMM) that it claims is a “next generation product”.
in the post On a July 20 blog, SushiSwap announced that automated market maker Trident will focus on capital efficiency and asset protection from crypto market volatility.
The next generation Trident AMM will leverage Sushi’s token store, BentoBox, and enable developers to build complex, capital-efficient applications.
News Karura
Two major exchanges, OKEx and Kraken, have announced the listing of KAR, Kusama’s first parachain.
On the Okex Exchange, users can now begin Deposit / withdrawal and spot trading with the KAR / USDT pair from July 20th.
However, trading on the stock exchange is not available to residents of the United States, Canada, Australia, and Japan deal Octopus.
Karura is an all-in-one decentralized finance (DeFi) hub and stablecoin platform based on Kusama (KSM) and integrated with Polkadot (DOT). Founded by Acala Network, Karura has won four Web3 Foundation grants and founded the Substrate Developer Academy.
Both Karura and Acala are backed by multiple funds, including Coinbase Ventures, Pantera Capital, Polychain Capital, and Hypersphere.
Karura and Acala work together. In particular, Karura implements DeFi on Kusama in the same way that Acala DeFi offers on Polkadot. The network is based on the same code base as Acala: two platforms that provide a scalable, convenient and fast DeFi cross-chain ecosystem for Kusama and Polkadot.
Parachain Karura is a platform that enables users to build complex, inexpensive and efficient financial applications, saving time and increasing transaction efficiency.
The platform itself offers the kUSD stablecoin, liquid KSM liquidity and an automated DEX market maker (AMM DEX) that releases liquidity and supports financial innovations.
Defibox news
Wu Blockchain said that Defibox, the DeFi project with the largest total volume of locked assets on EOS, officially launched the BSC chain on July 21, 2021 at 5:00 p.m.
Projects on EOS will in turn be migrated to BSC and the mining protocol will start on July 23, 2021.
Defibox, TVL’s largest DeFi project on EOS, announced that it officially launched the BSC chain on July 21, 2021 at 5:00 p.m. The EOS projects were transferred to BSC one after the other. @DefiboxOfficial https://t.co/mo9gD0RPiB
– Wu blockchain (@WuBlockchain) July 21, 2021
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