Crypto News December 9: Bitcoin falls below $ 50,000 as Evergrande goes down at SHIB, Ledger, Unbound Finance, Huobi, Cardano, FLOKI, KuCoin
From the area of support that Bitcoin has to hold to Unbound Finance announcing an IEO on Huobi, here are some highlights from the crypto area.
Bitcoin is trying to hold $ 50,000 at press time to avoid crashing to last week’s lows.
Data from TradingView shows that BTC / USD is operating in a small area around the $ 50,000 mark, and that level is not yet solid support.
Analyst Michael van de Poppe said:
One important area to hold on to is $ 42,000 that was previously touched. The price closed above $ 46-47K and I don’t want to lose it at all. “
Amid calmer conditions, despite macro markets grappling with unprecedented levels of debt from Chinese real estate giant Evergrande, analysts are increasingly focusing on the long-term backdrop to gauge the overall health of Bitcoin price developments.
“Bitcoin still seems to be on the right track,” summed up the popular Twitter account TechDev on Wednesday in an optimistic discussion that compares this year with the years after the halving in 2013 and 2017.
He agrees with a separate analysis by analyst Rekt Capital, who over the weekend highlighted key Fibonacci levels that Bitcoin needs to track and hold.
The source: Twitter
However, despite the similarities between the cycles, commentators concede that this time around, Bitcoin will likely take longer to hit a cycle high, leaving December without a blow.
Bitcoin Hashrate Back to ATH
Bitcoin’s global hashrate has rebounded sharply after bitcoin miners left China and moved to cheaper countries, according to Blockchain.com.
Bitcoin hashrate is up 108% since June, with a seven-day average of 175 EH / s since December 8, according to new metrics.
Avalanche Bridge, launched by Ava Labs in July, now supports the Shiba Inu Coin Meme. This tool enables the seamless migration of Ethereum tokens to the Avalanche mainnet. Users can also transfer packaged versions of Bitcoin and Ethereum with the help of a bridge.
Avalanche Bridge (AB) adds new tokens that can be transferred between Avalanche and Ethereum.
First, $ SHIB incoming!
– Avalanche ???? (@avalancheavax) December 8, 2021
Cryptocurrency wallet and infrastructure provider Ledger has launched a new debit card that allows users to purchase goods and services with their digital assets, potentially opening the door to widespread adoption.
The Crypto Life token, also known as the “CL”, was unveiled on Thursday at Ledger’s biennial Op3n conference. The debit card is linked to Ledger Live, a desktop and mobile application that Ledger users can use to buy, exchange, and stake cryptocurrencies. The CL card supports multiple cryptocurrencies including Bitcoin, Ether and Stablecoins USD Coin and Tether.
news Untied finance and huobi
The DeFi Unbound Finance (UNB) credit protocol created the conditions for the introduction of a native governance token – notification IEO on Huobi primrose list.
Unbound Finance is built as an aggregation layer on top of existing automated market generators (AMMs) in order to operate decentralized exchanges (DEXs) on Ethereum and other blockchains.
The protocol allows users to leverage their idle liquidity fund (LPT) tokens on interest-free crypto loans – issued as synthetic assets, starting with Unbound’s AND and uETH stablecoins.
The IEO on Huobi Primelist is followed by listing on decentralized exchanges (DEXs) such as Uniswap, Balancer, PancakeSwap, Quickswap and Curve, as well as on several centralized exchanges (CEX).
According to staking reward data, the unique addresses currently staking ADA have increased nearly 7% in the past 30 days. The recent growth matches the 1 million milestone reached in terms of the number of staking addresses.
According to pool.pm on the tracking website Cardano, there are currently 1,008,241 ADA staking wallets, 71.4% of which are staked.
The source: stakingrewards.com
Heavyweight boxing champion Tyson Fury has been criticized for promoting Floki Inu on Twitter.
In a promotional video, the famous British boxer reads the lines of a script in a hoodie with the logo of the meme coin and tells his two million followers about the partnership of the Secured Crypto Project.
Then at the end of the clip, Fury awkwardly calls out “Valhalla,” a reference to Floki Inu’s Metaverse game that the team is currently developing.
Fury even struggled to pronounce the cryptocurrency name correctly and showed little or no real interest in the Elon Musk-inspired cryptocurrency and its marketing gimmicks. Some people have to say “how embarrassing”.
that is embarrassing. https://t.co/kGoblVaNjC
– Coffeezilla (@coffeebreak_YT) December 9, 2021
KuCoin, the world’s leading cryptocurrency exchange, announced that it has exceeded 10 million users worldwide.
Reaching 10 million users means that KuCoin has entered the top 5 crypto exchanges, sharing the same number of users as the largest digital asset platforms.
According to the latest statistics, the number of newly registered users of KuCoin compared to the previous year is 9 times and the trading volume is 23 times higher than in the same period last year.
The development of financial and social indicators has also raised the value of the exchange’s native token – KuCoin Token (KCS) – to a new high since 2018 – a price increase of 3,000% compared to the beginning of the year. The total market cap of KCS has reached USD 200 million and ranks 75th on CoinMarketCap.
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