Crypto News September 27: Bitcoin forms a double bottom pattern near $ 40,750 with news Ethereum, Ripple, Cardano, Binance, Uniswap, Genesis, Dogecoin, EMURGO, Crust Network
From the comment that Bitcoin created a double bottom, Binance has limited some services to users in Singapore. Here are some highlights from the crypto market.
Bitcoin price fell below the USD 43,000 and USD 41,000 levels, but the bulls successfully defended the USD 40,750 zone.
As a result, the price started rising and it looks like the market has formed a double floor pattern near the $ 40,750 mark.
Analysts from Cryptoquant calledBitcoin price has hit a double floor. Large amounts of long and short were liquidated in the market. Bitcoin formed a classic double bottom on the 1-hour chart. The price fell to the $ 40,800 area, the large amount of long liquidity caused the price to rise into the $ 44,000 area resulting in short liquidity.
Bitcoin forms a double floor | Source: cryptoquant
BTC price is currently bullish and has passed the $ 42,000 and $ 42,800 resistance levels. BTC has also crossed an associated downtrendline with resistance near $ 42,400 on the hourly chart.
The market broke the 50% Fib retracement level of the downward move from the $ 45,153 high to the $ 40,750 low. It is currently trading above the $ 43,000 zone and the 100-hour simple moving average.
Also, BTC is consolidating near the 76.4% fib retracement level. On the flip side, the immediate resistance is near the $ 44,800 area. The first major resistance is at $ 45,000.
A closing price above the $ 44,800 and $ 45,000 levels could see the market rise steadily. The next major resistance is near the $ 45,500 zone, above which a rally to $ 46,200 is possible.
Bitcoin Price Chart | Source: TradingView
Unless it breaks above the $ 45,000 resistance area, BTC could initiate a downward correction with immediate support to the downside near the $ 43,600 level.
The first big support is near the $ 43,200 area and the 100-hour simple moving average. Any further losses could move the price towards the $ 42,000 support area in the short term.
According to Santiment, 1/3 of the circulating Ethereum supply has been moved from exchanges to private wallets.
Since September 26, 2020 to date, the circulating supply has decreased from 24% to 16%, a decrease of 8% in one year. The main reason for this trend is the updated network and the rapid rise in prices at ETH.
– Santiment (@santimentfeed) September 27, 2021
Since September 2020, when supply on the exchanges began to decline, the price of Ethereum has risen nearly 1,000%, with an average entry of $ 1,800 to $ 2,000. The majority of Ethereum holders currently hold their coins with a 69% return.
Former US Treasurer Rosie Rios recently praised the utility of XRP.
In his tweet, Rios stated that the digital currency associated with Ripple will be used for cross-border payments. This sets them apart from other coins that are mainly useful for speculation.
– Rosie Rios (@RosieRios) September 26, 2021
The Cardano blockchain was chosen to power the artificial intelligence (AI) modules of a humanoid robot named Grace.
Grace is fluent in English and Korean and was developed by Awakening Health and SingularityNET. This robot can be used commercially in elderly care and human health care in general.
NEW BLOG: Cardano is aged #WHO and welcomes Grace, the robot set to revolutionize global healthcare. #Cardano becomes a safe and private environment for Grace’s AI modules. # CardanoSummit2021https://t.co/A3rg847413
– input output (@InputOutputHK) September 26, 2021
Equipped with powerful AI technology, Grace is able to simulate 48 facial muscles, enabling social interactions with patients.
The Cardano integration will greatly improve the robot’s performance, which means it will take less time to process biological data.
Cardano donated $ 20 million to Carnegie Mellon University (CMU).
The founder of Cardano, Charles Hoskinson, was sponsor $ 20 million to Carnegie Mellon University (CMU) to build a full-fledged Hoskinson Center for Mathematical Research.
The center will be located at the Dietrich College of Humanities and Social Sciences at CMU. Jeremy Avigad, professor of philosophy and mathematical sciences at the university, will lead the center.
Mathematical theorems that focus on finding evidence, checking steps and certifying correctness with the help of a computer will be the main research area of the center.
Starting October 26, 2021 at 11:00 a.m. (UTC + 8), users in Singapore will no longer be able to access certain features on Binance.com, including fiat deposit and exchange services. Buy instant, crypto through fiat channels and liquidity swaps.
Binance will border The users of the payment service in Singapore are aligned with the exchange’s obligation to comply with the regulations. Users in Singapore are advised to cease all relevant transactions, withdraw fiat assets and exchange tokens before 11:00 a.m. (UTC + 8) on October 26, 2021 to avoid potential transaction disputes.
It appears that decentralized exchanges (DEXs) and related tokens are the biggest beneficiaries of the recent sweep from China.
Among them, the UNI of the Uniswap exchange, the largest DEX in the world, seems to be the token that has benefited the most so far.
In particular, UNI price has increased more than 37% in the past 24 hours, from a daily low of $ 17.77 to a daily high of $ 25.98. At the same time, the trading volume of UNI-Coins increased by more than 500%.
UNI price has risen sharply | Source: Coinmarketcap
EMURGO Africa and EMURGO Ventures have seed invested in a number of projects focused on the Cardano network.
EMURGO, a global blockchain technology company providing solutions to developers, startups, corporations and governments, has announced it will invest 100 million in development projects on Cardano to support DeFi, NFT and blockchain education.
Adanian Labs, SparklesAdaverse, SparklesMilkomeda are three projects that were invested from the company’s seed round. EMURGO is also one of the co-founders of Cardano.
– EMURGO (@emurgo_io) September 26, 2021
Cryptocurrency brokerage Genesis Global Capital announced the completion of its first transaction, which will help pave the way for new crypto futures products for institutional investors.
follow notification On September 26, Genesis conducted the first OTC trade of the Basis Trade at Index Close (BTIC) in Bitcoin futures issued by the Chicago Mercantile Exchange (CME). The trade was conducted in partnership with derivatives market maker Akuna Capital.
This is the first time BTIC has been used on cryptocurrencies as it is more widely used in the stock market. This type of trading enables investors to buy and sell futures contracts at prices based on the daily closing price of the index.
News Planet Sandbox
Planet Sandbox (PSB) has mobilize raised $ 1.5 million in its own fundraising round
Planet Sandbox closed its fundraising round with an investment attraction of over $ 1.5 million, led by Icetea Labs and ExNetwork Capital. Other investors include NGC Ventures, Illuvium, Momentum6, Basics Capital, Sporen, x21 Digital, Magnus Capital, Vendetta Capital, VBC Capital, AU21 Capital, ZBS Capital, Kyros Ventures and more.
The Italian fashion house Dolce & Gabbana has suggested that Tesla boss Elon Musk should be crowned crypto king if he owns the Doge Crown.
“Legend has it that the special collector who owns the Doge Crown will then be the anointed king of crypto …” https://t.co/IAj3ULLJcm
– Dolce & Gabbana (@dolcegabbana) September 26, 2021
The gem is part of the fashion giant’s first NFT collection, launched earlier this month in collaboration with the polygon-based digital token marketplace UNXD.
The Dog’s crown features seven blue sapphires and 142 diamonds, designed by Domenico Dolce and Stefano Gabbana.
Crust Network News
Crust Network, the decentralized storage network that underpins the data and file architecture of Web 3.0 cooperate with NEAR Protocol to introduce practical, high-performance, user-friendly and developer-friendly packages of IPFS-based decentralized storage solutions.
Ready to facilitate the growth of Web3.0, Crust Network provides a decentralized hosting experience for NEAR users and developers with over 6,000 IPFS nodes and approximately 2,000 petabytes of available storage. All of this was accomplished within just two weeks of Crust Network’s mainnet launch on September 1st.
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