Crypto News 12/18: Bitcoin battles XRP, ETH, LINK, BCH, NFT, Polkadot, Sologenic News to end the year at $ 50,000
From Bitcoin’s attempt to reclaim the psychological $ 50,000 mark to the Sologenic Airdrop of 200 million tokens to XRP and SOLO holders, here are some of the news highlights in the crypto space.
The selling pressures Wall Street experienced on Thursday weighed on the cryptocurrency as Bitcoin again threatens to lose support at $ 47,000. However, the digital currency managed to close above that price while the rest of the altcoins fared better.
Edward Moya, Senior Market Analyst at Oanda, wrote in a customer note:
“Bitcoin and big tech stocks took a hit as investors shifted some of the riskiest bets in their favor. The crypto space is experiencing a lot of repositioning and that creates unwanted selling pressure, but the medium to long term outlook remains strong. “
Craig Erlam, analyst at Oanda commented:
“Bitcoin is still moving in range trading after another turbulent week for the market. On one hand, the trend is very much against it, but he sees strong support at $ 47,000 so this price is unlikely to be abandoned.
The bulls are clearly trying to pull bitcoin price out of the current trend. Many were hoping for a six-figure amount by the end of the year. However, it looks like they are now hoping for half the price ($ 50,000). “
With Bitcoin already 33% below its all-time high in November, the crypto king is in no danger as the downward trend shows that bear claws are in sight for the short term. However, nothing has changed in the technical picture of Bitcoin in the last few sessions. Bitcoin has support around last week’s low ($ 47,215) and is facing resistance around last week’s high ($ 52,195).
Other experts also warn that as long as the price stays above $ 46,000, which is where the 200-day moving average is, there is hope of a near-term rally to $ 55,000 if buyers react to the signals. Price momentum is starting to turn positive on the daily chart for the first time since October when these signals heralded a price rally. This time around, however, the uptrend on the weekly chart has slowed, meaning the uptrend could be capped before breaking above $ 55,000 to $ 60,000.
Whale Alert says a staggering 718.3 million XRP have been streamed from Ripple, Binance and two other digital exchanges in the past 24 hours.
More than half of that was sent by Ripple Labs, consisting of 460,669,182 and 120,000,000 XRPs. The total value of the tokens rose to $ 585,946,261.
The transfer was made from the same Ripple wallet rLzoWkN8Rc1MV5rs8rAfo5uTREJ1A3Z9ak, which was empty after the transfer. The funds were sent to various addresses in the company.
Three other impressive XRP transactions were spotted by Whale Alert before those by Ripple.
Binance has moved 80 million XRP between its wallets.
An anonymous wallet transferred 20 million XRP to Bitso – the leading exchange in Mexico and also a Ripple ODL corridor. Bitso also transferred 17.7 million XRP internally.
Another transaction from Bittrex delivered 20 million XRP to another Ripple ODL corridor – Bitstamp, based in Luxembourg.
The five parachains that won the first auction went live on Polkadot and are now in block production, paving the way for an interoperable ecosystem.
Polkadot has been holding parachain placement auctions since 11/11. The five winning projects in the first auction are Acala, Moonbeam, Parallel Finance, Astar and Clover – Defi-focused, high-performance projects, cross-chain interoperability and other use cases. Each project currently has its own lease until October 20, 2023.
To improve interoperability, Polkadot enforces cross-chain communication at the protocol level and natively secures Layer 1 parachains through a process known as shared security.
“The Parachain model was developed with the belief that the future of Web3 will have many different types of blockchains working together. Just as the current version of the Internet serves different needs, blockchains must be able to provide a variety of services. Parachain solves this problem. “
A crypto investment platform is launching a $ 1 billion airdrop for XRP holders and the protocol’s native token.
Sologenic (SOLO), an XRP Ledger (XRPL) -based ecosystem that tokenizes a variety of assets from traditional financial markets, is launching a new decentralized NFT marketplace on XRPL.
To boost the new market’s ecosystem, Sologenic is throwing 200 million SOLOs to investors who already hold SOLO or XRP, according to a new announcement by the company.
SOLO is currently trading at $ 4.6, which means the entire drop will be worth $ 920 million at press time.
To claim the free SOLO, investors must hold their SOLO and / or XRP on central exchanges that support the Airdrop, or create a “trustline” from their own wallet for Sologenic.
The snapshot for the airdrop will be on December 24th. and Sologenic will split 100 million SOLO between eligible XRP and SOLO accounts. Investors creating trustlines will receive their tokens on January 20th.
Despite the technical difficulties, the Adidas ORIGINALS: Into the Metaverse NFT boots sold out quickly after their release today. The iconic fashion brand’s collection includes 30,000 NFTs for 0.2 ETH each. The proceeds amounted to 23 million US dollars (6,000 ETH).
The Adidas collection is made in collaboration with three big names in the field: Bored Ape Yacht Club, Punks Comic and gmoney.
NFT holders receive both physical and digital privileges. On the physical front, owners will have access to physical goods in 2022 – “the iconic adicolor Firebird tracksuit”, “graphic hoodie” and “gmoneys classic orange beanie”. Hodlers can digitally take part in virtual events in the Metaverse until 2022 and beyond.
News ETH, LINK, BCH
Ripple’s main partner in Japan, the SBI Group notification that they are launching the “SBI Crypto Fund” to enable ordinary investors to hoard XRP, Bitcoin, Ethereum, LINK, Bitcoin Cash and Polkadot.
The crypto fund is operated by the SBI Alternative Fund GK. Before purchasing a cryptocurrency from the fund, investors must sign an anonymous partnership agreement with SBI Alternative Fund.
The minimum investment must be 5 million yen or more, but in units of 1 million yen. In addition, the investment contract cannot be terminated within one year and a fee will be charged to the fund for any crypto purchases.
Join Bitcoin Magazine Telegram to keep track of news and comment on this article: https://t.me/coincunews
According to U.today