Crypto News July 10: Bitcoin hits $ 34,000 despite low volume with news from Ripple, Theta, NFT, Cardano, Baby Doge, Zilliqa, Polygon
From the fact that Bitcoin is going bullish despite being low in volume, to Cardano, which is on the right track to building a strong community. Here are some highlights from the crypto market.
Bitcoin had a tough day, trying to break above $ 35,000 on Wednesday, but the bears regained control and reversed their trajectory.
The market began to depreciate fairly quickly, falling around $ 3,000 on Thursday, hitting a two-week low over the region of $ 32,000.
At that point, however, the bulls “showed up” and managed to move the market into a quick rebound. As a result, BTC rose several thousand dollars and broke through $ 34,000 today. However, it failed to keep the price above this level and is currently trading at around $ 33,800.
Bitcoin trading volume | Source: Bitcoinity
However, it is worth noting that the trading volume is still low. Data from Bitcoinity shows that Bitcoin trading volume is tight, which happened late last week.
Scott Minerd said there was no reason to own Bitcoin right now.
in the interview On July 9, Scott Minerd, Chief Investment Officer at Guggenheim Partners Global, said with Brian Sullivan at CNBC, “Right now there is no need to own Bitcoin.
He emphasized the $ 10,000 area, believing that the collapse of the crypto market was imminent. He predicts the price will drop between 70% and 80% and BTC could return to the $ 10,000-15,000 region.
Minerd points out that the parabolic market is “impossible” to support sustainable development.
In the past 24 hours, San Francisco-based exchange Coinbase has moved a large amount of XRP, Whale Alert said.
61,999,980 tokens were moved by Coinbase, which equates to $ 38,440,048. Transactions are carried out between the company’s internal wallets.
– Whale alert (@whale_alert) July 9, 2021
36.92% of Theta Fuel’s circulating supply, or approximately 1,970,092,812 TFUEL tokens, participate in the new staking mechanism introduced on Theta Mainnet 3.0.
Theta Network introduced TFUEL staking on June 30th during the upgrade to Theta Mainnet 3.0.
It should be noted that staking out the theta network does not limit the amount of TFUEL, as THETA holders have committed up to 63.24% of the network’s circulating supply to the process.
36.92% of Theta Fuel’s circulating supply participates in the new staking mechanism | Source: Theta Explorer
The Weiss Crypto Ratings development team believes Cardano is on the right track to build a strong community.
Weiss Crypto Ratings came to this conclusion when Cardano overtook Bitcoin as the most widely held digital asset on eToro US in the second quarter of 2021.
#Cardano overtaken #Bitcoin considered most held #Crypto on eToro in the second quarter of 2021. As a successful decentralized network, it’s not just about strong technology. It’s also about building a community. Data points like this show $ ADA is on the way to building a strong community around him.
– Weiss Crypto (@WeissCrypto) July 9, 2021
Monumental Sports and Entertainment partnered with Washington Wizards and Washington Capitals announced a new NFT collection with two teams.
The artists participating in the new collections for these two Washington-based franchises are Lawrence Atoigue and Robert Generette III.
Some of the other experts are Naturel or Rob Zilla III, who are responsible for creating digital art to get fans excited about DC
Baby Doge News
Baby Doge, a philanthropy-focused cryptocurrency, will sponsor Brandonbilt Motorsports at the Credit Karma Money 250 event held today.
The cryptocurrency craze continues to spread in Formula 1 racing circles when driver Brandon Brown, No. 68 Chevrolet Camaro, funded by Baby Doge.
He will present our next charity donation
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To win 500 billion won #BabyDog
Race winners announced on Saturday, July 10th pic.twitter.com/7ILeiOD0Ce
– Baby Doge Coin (@BabyDogeCoin) July 6, 2021
The rare 101.38-carat D-Flawless pear-cut diamond called “The Key 101.38” was auctioned on Friday by the auction house Sotheby’s.
An anonymous buyer from Hong Kong has numbers a $ 12 million cryptocurrency for the gem.
It’s unclear which cryptocurrency was used for this record purchase, but Sotheby’s only accepts Bitcoin and Ethereum.
Amrit Kummer, President of Zilliqa, said that when he compared ZIL and ADA, he found some interesting data.
Accordingly, Cardano only processes 1/2 of the transactions that Zilliqa carries out daily, but costs 2.3 times more fees and that happens even if it has not integrated any smart contracts.
I find this data particularly interesting $ ZIL With. $ ADA. Cardano processes 1/2 of the transactions that Zilliqa carries out daily, but consumes 2.3x more fees than Zilliqa, even if it does not have any smart contracts. pic.twitter.com/EheIB8m3IG
– Amrit Kummer (@maqstik) July 9, 2021
According to Polygon Daily, users can now access the entire ecosystem through the Xdefi 3.0 wallet.
The new version of the wallet has been integrated with Polygon and other wallets, ledger support for Ethereum and simplified UX / UI.
Now you can touch the whole thing @ 0xPolygon Eco with @xdefi_wallet 3.0!#Polygon Integration was added to this version, along with migration from other wallets, ledger support for #Ether & simplified UX / UI$ MATIC #MATIC #polygonmatic #polygon network #XDEFI pic.twitter.com/IaeqpX0iOi
– Polygon daily (@PolygonDaily) July 9, 2021