Crypto News 17/07: A rare upward signal has occurred for Bitcoin with messages from Ethereum, Harmony, Chainlink, Terra, Standard Protocol, Dogecoin, Stake DAO, NFT, Blockchain
The Bitcoin comment sent an optimistic signal to Russia that was launching the project to bring global cryptocurrency mining to the country. Here are some highlights from the crypto market.
As an analyst from The Moon noted, the BTC difficulty band appears to be increasing for the first time since the bull run began.
This indicator is a measure of the average difficulty level of Bitcoin. The mining difficulty indicator can be calculated by estimating the number of hashes required to mine a block.
– The moon (@TheMoonCarl) July 16, 2021
To properly quantify these values, the BTC Difficulty Area uses a normalized standard deviation. Values above the band are associated with an upward trend, while values below that indicate a downward trend.
The diagram shows how BTC’s difficulty band has a historical relationship to price. It seems that if the value of this indicator goes down, the price of BTC will go down too. And when it goes up, so does the price
Bitcoin could soon lose the critical support level of $ 30,000.
In a recent tweet, Scott Minerd, chief investment officer at Guggenheim Partners, stressed that Bitcoin could soon lose the key support level of $ 30,000.
A tech rule to remember with Bitcoin: “Every time a support level is tested, it gets weaker.” That would mean that support for $ 30,000 could soon be lost.
– Scott Minerd (@ScottMinerd) July 16, 2021
He believes the market will get weaker with every test that takes place.
Previously, Minerd had predicted that Bitcoin could fall to the $ 15,000 or even $ 10,000 region by the end of June.
Bank of America enters the Bitcoin futures market
Bank of America, the US multinational investment bank, becomes the newest name to enter the Bitcoin futures market. The bank now allows trading in Bitcoin futures contracts.
– Document Bitcoin (@DocumentingBTC) July 16, 2021
Accordingly, these transactions are paid for in cash, a type of contract that is paid in USD rather than Bitcoin.
Bank of America is cautiously tracking the crypto space and only allows a select number of qualified customers to trade Bitcoin futures.
New figures from crypto data company Messari show the Ethereum network processed $ 2.5 trillion in transactions in the second quarter of 2021.
Senior Research Analyst Ryan Watkin at Messari said, this figure shows that blockchain is currently well on its way to reaching $ 8 trillion in trading volume by the end of the year.
The Ethereum network processed $ 2.5 trillion in transactions in the second quarter of 2021 | Source: Messari
Whales transport large amounts of ETH
According to Whale Alert, two large Ethereum transactions have been made by anonymous users in the past 24 hours.
Each move carries 400,000 ETH, which is about $ 769 million. In total, over $ 1.4 billion worth of ethers were transferred from unknown wallets.
Whales move ETH | Source: Whale Alert
Blockchain Harmony has opened registration for a hackathon starting next month with over $ 1 million in funding and prizes for participants.
In his announcement on Thursday, Harmony said the hackathon will focus on attracting more people from traditional financial markets to their niche and the decentralized financial market (DeFi).
???? 1 / We are happy to announce bridging #TradFi large #DeFi #hackathon where Harmony, along with award partners, will be awarding up to $ 1,000,000 in prize money and non-dilutive seed funding. Why are we doing thishttps://t.co/qeq6U9M0LV
– harmony (@harmonieprotokoll) July 15, 2021
Omakase, the main developer of SushiSwap, was one of the speakers and judges at the event along with Earn.com co-founder Lily Liu. The DeFi Alliance project leader, Imran Khan and others.
Sponsors include CoinGecko, Messari, Unstoppable Domains, DappRadar, SushiSwap, DoraHacks, The Defiant, and Hummingbot.
News chain link
This morning, the LINK price hit a low of $ 15,125 while Bitcoin hit a daily low of $ 31,000.
With this move, LINK retested the USD 15 support area for the third time since May 23. According to the joint chart, the market rose from the USD 15 support on June 22nd.
Price table LINK | Source: TradingView
Message standard protocol
Standard Protocol, the Collateralized Rebasable Stablecoins (CRS) protocol, brings its ERC20 token to Polygon, enable Users make almost instant transactions with low fees.
Standard Protocol provides solutions to major algorithmic stablecoins problems, including unsustainable interoperability, overly centralized oracles, and difficulty tracking auctions. Standard Protocol solves these problems by creating collateral stablecoins with an elastic supply. The project also proposes a block reward for Oracle vendors, with an 8: 2 ratio between validators and vendors.
This integration will allow Standard Protocol to interact with the growing polygon ecosystem, including DeFi blue chip projects, expand its stablecoin ecosystem to new users, and strengthen its position as a multi-ecosystem stablecoin protocol.
Terra has just launched a new $ 150 million Ecosystem Fund. supported by the LUNA community.
This fund will move Terra into the next phase of launch; expands an accessible, cross-chain DeFi supersystem with the aim of helping the project to achieve widespread acceptance.
1 / We’re excited to introduce Terra’s new $ 150M Ecosystem Fund, which will bring Terra into the next phase of implementation; Expansion of an accessible, cross-chain DeFi supersystem aimed at mainstream adoption – backed by the amazing #LUNAtic Community.https://t.co/554qBwtngL
– Terra powered by Luna (@terra_money) July 16, 2021
Dogecoin (DOGE) is the leading asset among the top 5 digital assets in the second quarter of 2021. report In CoinGecko’s second quarter, Dogecoin saw impressive growth of up to 366% in the final quarter.
In the second quarter, Dogecoin (DOGE) took the lead with an impressive 366% growth. Meanwhile, Bitcoin (BTC) has lost 40% of its value.
Top 5 digital assets in the second quarter of 2021 | Source: CoinGecko
IDC has published its first study on the market share of BaaS (Blockchain-as-a-Service) in China.
Accordingly, AntChain, Huawei and Inspur are the top 3 projects in 2020. The total market value is USD 97.6 million, an increase of 91.8% over the same period.
IDC has published its first study on the market share of BaaS (Blockchain-as-a-Service) in China. AntChain, Huawei and Inspur ranked in the top 3 in 2020. The total market is $ 97.6 million, up 91.8% year over year.#block chain technology https://t.co/eoMJgkPjvF
– Wu blockchain (@WuBlockchain) July 17, 2021
News stake DAO
Stake DAO has expanded to Avalanche to help users improve their crypto portfolios through innovative strategies, cross-chain interoperability, and smart staking.
You want to help that #Avalanche Network while maximizing rewards? $ AVAX Staking is now live @StakeDAOHQ to help users improve their crypto portfolios through cutting edge growth strategies, cross-chain interoperability and smarter staking.https://t.co/KYAIGOnTBh
– Avalanche (@avalancheavax) July 15, 2021
This extension allows users to delegate (and wager) their AVAX to the Stake DAO and start earning staking rewards right away.
In the near future, the Stake DAO will add several initiatives including Liquid Staking, which gives AVAX holders the ability to trade versatile derivatives while receiving staking rewards.
A painting by the artist Pablo Picasso is to be sold and broken down into 4,000 different NFTs. The idea came from the Swiss bank Sygnum, which worked with the investor Artemundi to symbolize a Picasso work called “Fillete au Béret” from 1964.
According to the notification, investors have the opportunity to acquire “stakes” in the artwork, which Sygnum calls Art Security Tokens (ASTs). The property is then sent to a public blockchain and is fully recognized under Swiss law.
While sales are limited to premium customers, each NFT share sells for around $ 1,100.
SoftBank is investing $ 75 million in Block.one’s bullish exchange
SB Northstar – a subsidiary of SoftBank – will purchase $ 75 million worth of Bullish stock once the SPAC goes into effect.
In addition, SB Northstar also announced that it is purchasing 3 million private placement certificates from Far Peak Acquisition Corp (NYSE: FPAC), which will merge with Bullish in the upcoming sale.
Peter Thiel-backed crypto exchange Bullish is receiving a $ 75 million investment from the SoftBank unit https://t.co/0p080y4xVx
– Bloomberg crypto (@crypto) July 16, 2021
Block.One “pumped” 10 billion USD for the new EOS-based exchange, the EOS price rose immediately by 50%. An exchange called Bullish announced its plans to open a public sale on the SPAC deal. The deal raises Bullish’s valuation to $ 9 billion.
Russia launches project to bring global cryptocurrency mining to the country
RACIB, the largest association for cryptocurrencies in Russia, is now launching a project to bring global crypto mining operations into the country.
Accordingly, the project will transfer global computing resources for mining cryptocurrencies to Russia.
– Vince Prince (@Vince_Prince_) July 16, 2021
Specifically, the main idea of the project is the construction of mining farms with renewable energy sources, where nuclear and hydropower are popular.
In addition, the association aims to set up mining operations with green energy sources from wind turbines.