Crypto News Feb 10: Bitcoin price drop neutralized with news from Solidity, Terra, Nakamoto Games, Shiba Inu, InsurAce, Covalent
From the allegation that Bitcoin invalidates the case to BlackRock, which offers a cryptocurrency trading service. Here are some highlights from the crypto market.
Trader Dave the Wave says that once BTC breaks out of its downtrend channel, a “great opportunity” is coming and Bitcoin (BTC)’s drop to the $25,000 region will become obsolete.
“The $25,000 goal appears to have been invalidated. In theory, the market has reached 70% of the top and is falling back to the short-term Fibonacci level.
Dave the Wave says BTC could end up in a “wide range of volatility”. He noted that Bitcoin’s monthly and weekly trend divergence indicators (MACD) are showing mixed signals.
Good chances that the 25,000 ideal/TA target will be invalidated here with a break of the down channel and a significant point of resistance.
Correction almost as long as the previous move higher. pic.twitter.com/u7rhDsaXbR
— davthewave (@davthewave) February 7, 2022
“Weekly MACD is up after hitting 0 again. The monthly MACD is still consolidating towards 0. This shows that the market is likely to move sideways and continue to accumulate.”
BTC is currently trading around $44,600. The top crypto asset by market cap is up over 22% in the past seven days.
BTC price chart | Source: TradingView
Dave the Wave also noted that Bitcoin could be on track to hit the $100,000 region by the end of this year or early 2023.
Finally, after a long wait, the Solidly liquidity solution developed by Andre Cronje has officially gone live.
On the project’s Youtube Channel, Solidly Exchange said it deployed the product on the Fantom blockchain.
https://t.co/MpYsHas79y is live
????High risk of losing money
????Token is not traded $SOLID is a scam
????0 financial incentive to participate
— Solid (@solidlyexchange) February 10, 2022
Solidly is a decentralized exchange (DEX) hosted on Fantom. This is a project described by Andre as a ve(3,3) model with many modifications that is said to be able to solve the liquidity/reward imperfections faced by DEXs in the DeFi sector. Solidly has its own token, SOLID, but it is not currently traded.
Terra community has by the proposed to enter into an exclusive partnership with a major US sports brand.
Originally submitted by Terraform Labs, the company behind the Terra blockchain, the proposal seeks 40 million UST from the Terra Community Trust (TCT) to secure a five-year exclusive partnership agreement, supporting the Terra brand and broadcast to millions of users.
Voting ended on February 9, with more than 227 million votes counted in 48 hours, over 98% for the proposal.
In the context of American football’s Super Cup, the Super Bowl, which is developing into a “great advertising war” among crypto exchanges, Terra (LUNA) immediately announced a five-year, $40 million sponsorship deal with the Washington Nationals, who compete in American Baseball (MLB), to take the platform’s first step into the sports arena.
Nakamoto game news
Nakamoto Games (NAKA) introduced NAKA Strike.
Nakamoto Games announced the launch of NAKA Strike, a first-person shooter, in February. This is the second most popular multiplayer game on the NAKA platform.
Introducing Nakamoto Games $NAKA #Hit! We roll out our first #FPS #games within this month. It’s the second #multiplayer #games on the @NakamotoGames Platform. We are constantly expanding our game selection and will #start more than 100 #play2earn #games in 2022. #metaverse #play pic.twitter.com/ghRIrpk5OY
— Nakamoto.Games (@NakamotoGames) February 9, 2022
Previously, Nakamoto Games introduced NAKA Galactic Game, a multi-stage P2E version where users pilot fighter jets with intergalactic missions. Nakamoto Games will launch more than 100 P2E games by 2022.
News Shiba Inu
On Wednesday, Twitter user Shibainuart, report that CoinMarketCap has deleted three Shiba Inu (SHIB) addresses on Binance Smart Chain (BNB), Solana (SOL) and Terra (LUNA). Only SHIB ERC-20 (ETH) tokens are currently visible on the website.
Three weeks ago, the Twitter community was in an uproar after Shiba Inu developers claimed that CoinMarketCap intentionally listed three fake SHIB contract addresses.
In response, CoinMarketCap claims that they are wormhole addresses designed to facilitate cross-chain transactions. At this time, CoinMarketCap has not released an explanation as to the reasons behind the removal of this wormhole address.
InsurAce (INSUR) has received development funding from NEAR and Harmony (ONE).
According to the announcement, InsurAce has received development funding from the NEAR Protocol and Harmony’s Ecosystem Fund.
NEAR and Harmony will help InsurAce accelerate adoption of Web3 technology, develop regional communities, and support project building on their platforms.
1/ We have another exciting announcement
As many of our community know, we have worked very hard to become fully multi-chain
Last week we were pleased to announce that we received a development grant from the exciting @NEARProtocol ????
— InsurAce.io Protocol (@InsurAce_io) February 9, 2022
Waves has been in an uptrend for the past week that is sure to shift its short-term market structure higher. The market is finding support levels and increased demand to propel prices higher in the coming hours.
WAVES found demand at $10.18 in two separate tests within a few hours and bullish momentum set in, which increased sharply along with trading volume over the past 24 hours. The price reached $12.21, just above the top of the Fibonacci retracement level, but the sellers pushed the price lower once more.
WAVES price chart | Source: TradingView
Right now WAVES is trading at $11.90 and if the market closes below $11.48 WAVES will be pushed down at $11.02 and $10.18 respectively if the bears go to space.
In the next few hours, the bulls’ defense at $11.48 will have an impact on the direction of the price action. On the downside, support lies at $11.02 and $10.36, $10.18. An upward move from $11.48 can help WAVES scale to $13.32.
Additional covalents support for Solana, providing a unified API experience for tens of thousands of developers in the Solana ecosystem.
With this support, developers can find and top up token balances including NFT for any wallet address on Solana with an API command.
Covalent has submitted a patch and once approved will have a 90% copy of all on-chain data including minting, transactions and everything else that has happened since the Genesis block.
Zynga plans to disrupt the blockchain gaming industry and NFT
Mobile gaming giant Zynga is actively building after announcing its presence in the blockchain space in December in partnership with Forte, the blockchain gaming unicorn that has successfully raised “huge” capital of up to $725 million his team up and ready to start his first NFT game.
Additionally, Matt Wolf, VP of Blockchain Gaming at Zynga, said the company is also working to strengthen its growth strategy in the industry through various alliance partnerships along with other partners. Potential acquisitions will be announced before the end of the second quarter of this year.
BlackRock offers cryptocurrency trading service
New York-based multinational investment management group BlackRock will launch a cryptocurrency trading service.
Institutional clients are expected could be Trading digital assets through Blackrock’s flagship platform, Aladdin, which is responsible for managing trillions of dollars in assets. Last year, one of the company’s job postings revealed that it was implementing a blockchain strategy for its extremely powerful portfolio management software.
The world’s leading wealth manager has yet to confirm the news.
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