Crypto News June 22nd: Peter Schiff reveals the best time to buy Bitcoin with News Ethereum, MakerDAO, IOTA, Dogecoin, Pyth Network, Ethereum Classic, Polygon, Cardano
From Peter Schiff’s comment on the best time to buy Bitcoin to whales creating massive ETH buying walls on Bitfinex. Here are some highlights from the crypto market.
Prominent Bitcoin critic Peter Schiff tweeted and revealed the best time “if you really want to buy Bitcoin”.
If people really want to buy Bitcoin, Peter Schiff waits for MicroStrategy to sell their last Satoshi. If the company continues to sell stocks and borrow money to buy it when the market falls, existing or new shareholders will force them to liquidate the position.
If you really want to buy #Bitcoinwait until #Micro-strategy sells his last satoshi. If MSTR continues to sell stocks and borrow money to buy into a falling market, existing or new shareholders will be forced into liquidation. @michael_saylor‘s diamond hands are really made of glass.
– Peter Schiff (@PeterSchiff) June 21, 2021
The recommendation is said to be ironic for MicroStrategy, which yesterday announced another major Bitcoin purchase after spending nearly $ 500 million to add BTC to its balance sheet.
ETH will generate a positive signal if it breaks out of the USD 1,950 area. Immediate resistance to the upside is close to $ 2,000. The first major resistance is at $ 2,065.
It is near the 50% Fib retracement level of the recent decline from the high of $ 2,283 to the low of $ 1,847. Key resistance is currently forming near $ 2,150 and the 100-hour simple moving average.
ETH price chart | Source: TradingView
If ETH fails to break above the USD 2,065 and USD 2,150 resistance levels, it can continue to decline. Reach the initial support near the USD 1,920 area.
The main support is currently forming near the $ 1,850 mark. If it drops below this level, ETH will likely drop to the $ 1,720 region in the near future.
Whales are creating a massive ETH buying wall on Bitfinex
Trader Alex Kruger said whales are trying to create a floor for ETH to keep the price from falling further after building a huge buying wall on the Bitfinex exchange.
– Alex Krüger (@krugermacro) June 22, 2021
The DeFi credit and stablecoin protocol MakerDAO has lowered fees on a wide variety of crypto assets used as collateral on the platform.
⚠️Maker Protocol Changes ️ (1/5)
ETH-A stability fee: 5.5% → 3.5%
ETH-B stability fee: 10% → 9%
ETH-C stability fee: 3% → 1%
WBTC-A stability fee: 4.5% → 3.5%
LINK-A stability fee: 5% → 4%
YFI-A stability fee: 5.5% → 4%
– Maker DAI bot (@MakerDaiBot) June 21, 2021
The move comes as the demand for DAI and other stablecoins has cooled in the face of the recent slump in the crypto market. Maker hopes to boost DAI mining demand this time around by lowering fees.
IOTA News has revealed some of the latest updates on the IOTA platform and stated that the market will soon recover.
Accordingly, the ledger test will begin shortly. Binance is also waiting for this feature for their cold storage. The project is also in talks with several other stock exchanges and custodian banks.
Regarding IOTA 2.0, the development team held in-depth meetings last week aimed at improving solutions, planning and planning and planning Hornet and Bee implementations.
IOTA is also becoming more and more widely accepted in Africa by large companies such as Digital Identity, Intel, DigitalMRV … In addition, many other large companies and dapps intend to partner with IOTA.
EVM integration works well on ISCP too, users can run the Solidity Smart Contract on IOTA.
“The BUIDL phase is now. The market will rebound and frankly there is nothing to worry about. Focus on the long term goals. #Crypto and #JOTA are inevitable. Enjoy the roller coaster ride. ” pic.twitter.com/PGw0iibalj
– IOTA news (@iotatokennews) June 21, 2021
Early this morning, Dogecoin had one of its worst days in history, when the price on the Binance exchange fell more than 36% to $ 0.16, its lowest level since April 23.
On May 19th, Dogecoin fell more than 55% in one day, but made up almost half of that loss before it closed for the day.
DOGE is currently trading at $ 0.1895 and is down over 19% in the past 24 hours.
DOGE price table | Source: Coinmarketcap
According to Charlie Billello, Founder and CEO of Compound Capital Advisors, Dogecoin is down 71% since Musk SNL peaked.
– Charlie Billello (@charliebilello) June 21, 2021
Ethereum Classic News
Digital Currency Group (DCG) became announced plans to buy $ 50 million in shares of Ethereum Classic Trust (OTCQX: ETCG) on Monday.
“DCG plans to use cash to fund purchases and will conduct open market purchases as determined by management in accordance with Rule 10b-18 of the Exchange Act. Securities in 1934.” Companies said.
Pyth network messages
The LMAX Group will provided FX and crypto trading data for Pyth Network.
LMAX Digital, which has recorded over $ 6.6 billion in crypto transactions, is the first exchange to join Pyth, the data delivery network for DeFi, which runs on the super-fast, powered Solana blockchain owned by FTX director Sam Bankman-Fried and Jump Trading based out of Chicago.
Cardano founder Charles Hoskinson is investigating the network’s long-term performance and whether it can keep up with the series of planned upgrades from Ethereum.
In an interview with Yahoo Finance, Hoskinson was asked if ETH 2.0 could potentially impact Cardano’s rollout.
According to Hoskinson, Head of Input Output Hong Kong (IOHK), ETH 2.0 is very unlikely to become a Cardano killer.
In particular, Hoskinson said that Cardano’s governance, interoperability and scalability system will be more advanced than Ethereum’s, even if ETH 2.0 goes live.
Cordano founder Charles Hoskinson discusses the effects of climate on cryptocurrency, focus on sustainability, interactions with Mark Cuban and more: pic.twitter.com/pp7XsHsYh7
– Yahoo Finance (@YahooFinance) May 26, 2021
According to the analysis from DaapRadar, DeFi users who have interacted with Polygon (MATIC) are choosing to continue using the protocol despite the reduction in gas fees for Ethereum.
The recent Ethereum crash was a win for Polygon as the sidechain saw record growth amid high gas charges. While gas charges are now normalizing, Polygon DeFi is still seeing record growth.
The DappRadar team goes on to explain that users will have to experience DeFi on other networks as Ethereum Dapps become unusable for ordinary investors due to unusually high fees. This led DeFi users to switch to Polygon due to “cheaper fees, high referral returns, and many competing DeFi applications”.
USDT-RMB prices collapsed on three major Chinese stock exchanges
According to Wu Blockchain, some investors are worried about the next OTC price drop and are starting to sell their coins.
USDT-RMB prices on the three major Chinese exchanges fell sharply, with Huobi falling to a minimum of 6.25, Binance to 6.22 and Okex to 6.3.
Some investors worried about the subsequent blow to OTC and started selling coins. The price of USDT-RMB on China’s three major stock exchanges plummeted, with Huobi falling to a minimum of 6.25, Binance to a minimum of 6.22, and Okex to a minimum of 6.3. pic.twitter.com/dGLMvM78fx
– Wu-Blockchain (@WuBlockchain) June 21, 2021