Crypto News 30/06: Bitcoin is difficult to compare with gold due to the great price volatility and news Ethereum, Ripple, Dogecoin, TeraWulf, Coinmarketcap, Lydia Finance, Argo Blockchain, Antimatterie, FTX, Theta, Cream Finance
From Insight Investment’s skepticism about the huge risks associated with Bitcoin to CoinMarketCap’s introduction of a token swap feature. Here are some highlights from the crypto market.
Despite BNY Mellon’s entry into Bitcoin (BTC), the CEO of one of the company’s asset management units remains skeptical of the major risks associated with the world’s largest cryptocurrency.
Francesca Fornasari, Head of Currency at Insight Investment, a subsidiary of BNY Mellon, believes Bitcoin may not be suitable for most institutional investors due to extreme volatility, low liquidity, governance issues and environmental risks.
in a meeting interview Speaking to Bloomberg on Tuesday, Fornasari said that Bitcoin is unlikely to be compared to gold due to its high price volatility, further complicating potential responses in an inflationary environment.
The forex expert said that Bitcoin’s slow and expensive transactions could be a major barrier to mainstream adoption and questioned Bitcoin’s ability to be used as a means of payment.
However, Insight Investment is bullish on altcoins, or cryptocurrencies other than Bitcoin, and says these types of digital assets have strong growth potential, especially those that address issues such as speed, rates and transaction costs, energy consumption and volatility.
ETH price has fallen below the uptrend line with support near $ 2,160 on the hourly chart. It tests the 23.6% Fib retracement level of the upside wave from the low of $ 1,716 to the high of $ 2,241.
The next big support is near the $ 2,070 mark, followed by the 100-hour SMA. A major bullish trendline is also forming on the same chart with support near USD 1,975. The trend line is close to the 50% Fib retracement level.
Any further decline could cause ETH to hold its price below the $ 1,950 mark, with the next big support on the downside near the $ 1,850 mark.
ETH price chart | Source: TradingView
If ETH holds the price above trendline support and the USD 1,950 area, it could start a new rally. Immediate resistance to the upside is near the USD 2,200 area.
The next major resistance is near the $ 2,250 area. If it breaks this range, ETH can rise to $ 2,320. If so, the bulls might even try to test the $ 2,500 mark for a short time.
Ethereum hashrate is down 25%
Ethereum’s hashrate has plummeted more than 25% since its peak in mid-May, a direct result of China’s crackdown on cryptocurrency mining.
– AZCoin News (@azcoinnews) June 30, 2021
The hashrate of the Ethereum network hit an ATH of 585.5 TH / s (terahashes / s) on May 20. In the following weeks it fell to a three-month low of 434.3 TH / s.
The 26% decline in just six weeks is considered one of the steepest declines in Ethereum history. Just 40 days after the hashrate peaked, it fell 17% in 10 days.
Today Ripple announced the appointment of Sendi Young as CEO of its European operations.
Amid its rapid growth, Sendi will be responsible for overseeing the strategy and execution of the technology expansion for Ripple’s global financial network, RippleNet, and providing financial solutions that enable customers to easily operate and grow their business size.
My first tweet in years is a good one … after more than 15 years in traditional FIs, I’ve become an industry leader @Ripple as MD of Europe! The jump to crypto was a breeze – this technology is driving the future of finance, and I look forward to getting started. https://t.co/aRVwnMIgI1
– Sendi Young (@sendiyoung) June 30, 2021
214.4 million XRP moved in the last few hours
According to data released by Whale Alert, Ripple and the world’s largest digital exchanges have moved 214.4 million XRPs, equivalent to $ 146,537,023, in the past few hours.
In it, Ripple transferred 150 million XRP (102,509,861) to its RL18 VN wallet. This wallet is often used to transfer XRP to third parties such as exchanges, payment platforms, BitGo depot wallets or financial institutions that Ripple works with.
– Whale alert (@whale_alert) June 30, 2021
Binance has moved 14,417,060 XRP ($ 10,025,877) to the Coinbase exchange.
Binance also received 50 million XRP ($ 35,402,497) from China’s largest crypto exchange – Huobi.
According to the Press release On June 29th, the Berlin travel booking company GetYourGuide added Dogecoin as a payment option. The travel company, supported by SoftBank, offers more than 40,000 products worldwide.
The addition of the crypto meme coincided with the company’s entry into the US market.
Johannes Reck, CEO of GetYourGuide, advises Dogecoiners to use their money to create memorable vacations instead of keeping them.
Bitcoin mining company TeraWulf has agreed to buy 30,000 miners from Bitmain.
in the post In a blog post on Tuesday, Bitmain said that TeraWulf will buy the latest generation of Bitmain miners, the Antminer S19j Pro, which will ship between January and June 2022.
Once the machines are delivered and deployed, TeraWulf is expected to increase its total mining hashrate to 3 exahashes per second.
CoinMarketCap (CMC) has introduced a token swap function on its website through an integration with the decentralized exchange Uniswap.
– CoinMarketCap (@CoinMarketCap) June 29, 2021
The site’s Ethereum-based tokens now include a swap symbol that users can use to connect wallets and switch between ERC-20 tokens. The platform supports MetaMask, Coinbase, Fortmatic, Portis and WalletConnect wallets.
News Lydia Finance
Lydia Finance helps invest Getting started with the DeFi ecosystem is now easier and more intuitive.
Lydia is an AMM, Yield Farming and Staking platform built on Avalanche with low gas fees and 100% decentralized. The platform offers users two main functions: earn and trade
When trading, the DEX’s Automated Market Generator (AMM) enables users to trade token pairs on Avalanche.
The Yield Farming or Earning feature allows Avalanche users to provide AMM pools with liquidity and generate profits with LYD tokens (Lydia Finance) and other tokens.
Has cryptocurrency exchange Crypto.com notification about the partnership with Formula 1, the Formula 1 racing series, this year.
In today’s announcement, Formula 1 announced that Crypto.com will be the new and first global partner for their Sprint 2021 event, set to begin on July 17th.
As part of the deal up to $ 100 million, the exchange will become the official crypto sponsor of the race.
Argo blockchain news
Galaxy Digital has granted British crypto mining company Argo Blockchain a $ 20 million loan to build a data center in West Texas.
In a statement from Argo on Tuesday, the company announced that it had received € 14 million, or approximately $ 19.4 million, from Galaxy Digital under a six-month loan agreement, using a portion of Bitcoin (BTC) as collateral.
Argo is pleased to announce that it has a £ 14 million ($ 20 million) loan agreement for a period of six months with months @GalaxyDigitalHQ Using a portion of the company’s Bitcoin holdings as collateral. #ARB $ ARBKF
– Argo (@ArgoBlockchain) June 29, 2021
Argo said the proceeds from the loans, along with cash from previous rounds of investments, will be used to expand mining operations in Texas and cover ongoing operating costs.
Has antimatter (MATTER) announced Partnership with Elrond (EGLD) to integrate the Elrond blockchain into the platform.
The integration will allow antimatter users to buy and sell call and sell options on Elrond assets. The flexibility of Elrond Smart Contracts will allow AntiMatter to implement its logic in a very efficient way.
West Realm Shires Services, FTX Trading Limited and Blockfolio, the three companies behind the operation of the FTX exchange, on Tuesday announced long-term partnership with seven-time Super Bowl champion Tom Brady and Brazilian supermodel Gisele Bündchen
As part of the deal, the legendary soccer player and supermodel will receive shares in FTX Trading. Brady will act as an ambassador for FTX, while Bündchen will act as an advisor for the company’s social and environmental initiatives and implement initiatives to reduce carbon emissions.
Theta, a decentralized video distribution network powered by users and blockchain technology, says Theta Wallet v3.0.1 has been released
The new wallet version enables TFuel staking on June 30th with a block height of 10,968,061.
Theta Wallet v3.0.1 was released on June 30th to enable TFuel staking at block height 10,968,061:https://t.co/PEKZuZNGQy
– Theta network (@Theta_Network) June 29, 2021
Cream financial news
Cream Finance lending platform has announced an upcoming integration with Polygon, a Layer 2 scaling solution on Ethereum.
– Cream Finance (@CreamdotFinance) June 29, 2021
Cream Finance’s smart contract marketplaces allow users to borrow and lend secured assets. According to Cream, the integration with Polygon, which has a total locked-up asset value of up to $ 8.64 billion, will result in faster transaction speeds, lower gas fees and access to additional markets for users.
At launch, Cream users can grant credits and credits on 10 different crypto assets including USDC, USDT, DAI, WMATIC, WETH, WBTC, Chainlink (LINK), SushiSwap (SUSHI)), Curve (CRV) and QUICK.
Americans are losing interest in cryptocurrencies
According to data from Arbor Data Science, the search is …