Crypto News 03/02: Bitcoin forms a starting pattern for a new uptrend with news from Hashstack Finance, Bitfinex, Floki Inu, NEAR, Cardano, Dogecoin, NFT, Shiba Inu
Ukraine has received the Starlink device promised by Elon Musk on the perception that Bitcoin is forming a new growth model. Here are some highlights from the crypto market.
Jurrien Timmer, Global Macro Director at Fidelity Investments, spotted Bitcoin’s double bottom pattern.
It looks like a potential double bottom for BTC and related stocks is in the making. pic.twitter.com/gzbVqdG7Pg
— Jurrien Timmer (@TimmerFidelity) March 1, 2022
The same is true for bitcoin-pegged stocks, which Timmer says often moves in lockstep with the largest cryptocurrency.
Double bottoms typically indicate a reversal from bearish to bullish and mark the start of a future uptrend.
Former Blockstream Director Participates in Building Bitcoin City
Samson Mow, Blockstream’s Chief Strategy Officer, has announced that he is leaving the blockchain company after 5 years.
In one posts Taking to Twitter on Tuesday, Mow said he will continue to be a “Blockstream spy” after leaving the Canada-based company where he has worked since April 2017.
He announced that he will continue to serve as the CEO of game development company Pixelmatic and plans to focus on “adopting Bitcoin” in the future.
According to Mow, things are developing at a rapid pace in El Salvador and more and more countries are interested in using Bitcoin.
Mow believes that now is a crucial moment in the development of Bitcoin, he is planning mass adoption of Bitcoin and this will help accelerate the speed of Bitcoin adoption.
Mow was involved in the plan to build a Bitcoin City in El Salvador. The project aims to use geothermal energy from the country’s Conchagua volcano to power Bitcoin (BTC) mining at the city built beneath the mountain. According to Pixelmatic CEO, $1 million BTC price could help Latin American country become “the financial hub of the world.”
Hashstack financial news
Accordingly explain The seed investment round has been officially shared by the Hashstack Finance development team and has successfully concluded. A total of $1,000,000 was raised from a variety of highly respected VCs and angel investors.
GHAF Capital Partners, Moonrock Capital, Kane & Rao Group, MarketAcross and Chainridge Capital have supported the Protocol’s fundraising efforts.
Entrepreneur Nimrod Lehavi of the world’s leading cryptocurrency conversion service Simplex has also joined Hashstack’s support as an angel investor.
Bitfinex Securities, Bitfinex’s blockchain-based investment platform, has begin launched the new STO platform on Tuesday.
Announced in September 2021, the new STO platform will be regulated by Kazakhstan’s national financial center known as the Astana International Financial Center (AIFC). According to Bitfinex Securities Chief Technology Officer Paolo Ardoino, Bitfinex Securities operates in a special economic zone in Kazakhstan that has an independent judicial system. The Platform is not available to citizens or residents of countries such as Canada and the United States.
According to the announcement, Bitfinex Securities is launching trading in Blockstream Mining Note (BMN), a security token that allows qualified non-US investors to participate in bitcoin mining or invest in BTC mining stocks using BMN’s hashrate . The token will be issued on the Bitcoin sidechain and traded against BTC and USD, giving accredited investors access to Bitcoin mining.
Floki Inu. Messages
British Advertising Standards Authority (ASA) forbidden Floki Inu advertising campaigns.
The ad watchdog concluded that the meme coin’s promotion was “irresponsible.”
The London Underground is flooded with Floki-Inu ads with the slogan “Missed DOGE? Get Floki”.
Some critics have called for a ban on cryptocurrency advertising on public transport in London following the findings of an ASA investigation into Floki Inu’s aggressive marketing efforts.
The watchdog has found that Floki Inu violated domestic advertising standards when it attempted to use FOMO to attract investors.
Near Protocol is facing a strong buying wave in the recovering market, posting an 11% growth in the last 24 hours. The rapid price increase may have purely technical reasons.
NEAR price chart | Source: TradingView
As NEAR token’s chart shows, the market surged more than 32% as the crypto industry faced an abrupt rebound, with the total capitalization once again surpassing $2 trillion. The token’s price is currently hovering around $11.4, up from around $8 in the previous two days.
In terms of market performance, the explosive growth is more likely to be caused by price pressures due to the excessive number of short positions in the market. The sudden appearance of purchasing power led to a series of liquidations.
An analyst Ali Martinez shared data from Santiment showing that major Cardano addresses holding between 100,000 and 1 million tokens bought more than 16,000,000 ADA as the price surged.
— Ali Martinez (@ali_charts) March 1, 2022
ADA has approached the psychological $1 level after gaining significant bullish momentum over the past two days. The ninth-largest cryptocurrency has gained more than 20% since Feb. 28 after mounting buying pressure.
Big investors appear to be adding more ADA to their portfolios as Santiment data shows a large number of buy orders have been filled in the past 48 hours, with 16 million ADA already being placed in the whale’s wallet.
Elon Musk mentioned McDonald’s in a tweet about Dogecoin and new companies using crypto.
In a thread started by US President Joe Biden, it was announced that auto giant Ford has begun investing capital in building electric vehicles worth $11 billion and creating 11,000 jobs nationwide.
Biden also tweeted that General Motors made the largest investment in history to start manufacturing electric cars and create 4,000 jobs in the state of Michigan.
Elon Musk replied that Tesla had invested more than Ford and GM combined and created more than 50,000 electric car manufacturing jobs.
Twitter user dogesuppportteam posted the dogecoin meme under Musk’s tweet about the DOGE army trying to convince new crypto companies to accept the coin meme.
musk reply in one word – McDonald’s – and refers to a recent incident when Dogecoin fans started posting multiple tweets asking the fast-food giant to accept payments in DOGE.
Recently, a CryptoPunk NFT numbered 5364 was transferred to an Ethereum wallet owned by the Ukrainian government and is considered one of the most valuable NFTs donated to Ukraine’s anti-Russian campaign.
— Watcher.Guru (@WatcherGuru) March 2, 2022
There are mixed opinions about the value of NFT CryptoPunk #5364. Tom Robinson of blockchain firm Elliptic has valued this NFT at around $200,000, but blogger DeepNFTvalue insists it’s a very rare NFT, so it won’t cost less than $233,000.
In February 2021 CryptoPunk #5364 was sold for $31,300 and this was the last time it was sold.
News Shiba Inu
The latest data from IntoTheBlock shows that the majority of Cardano (ADA) and Shiba Inu (SHIB) holders continue to experience losses despite the crypto market rally.
To determine the number of holders who are “not yet on land”, the intelligence agency IntoTheBlock examines wallets with a Cardano balance, determines their average purchase amount and compares it to the current price of ADA.
IntoTheBlock shows that 85% of ADA holders are still losing money even though the market is up 28.8% from a seven-day low of $0.74 to a current price of $0.95. The company also disclosed that only 12% of ADA holders are now profitable, while 3% are breaking even.
ADA on-chain display | Source: IntoTheBlock
Looking at the Shiba Inu coin meme, IntoTheBlock reveals that 55% of SHIB holders are experiencing losses, while 39% are profitable and 7% break even. Currently, SHIB is trading around $0.0000268, up nearly 30% from the seven-day low of $0.000021.
On-chain ad SHIB | Source: IntoTheBlock
FC Barcelona can develop its own cryptocurrency
FC Barcelona has announced its plans to develop a new cryptocurrency to boost its finances. President Joan Laporta made this announcement at Mobile World Congress 2022, which will be held in Catalan.
EL BARÇA SE PASA A LOS NFT
— El Chiringuito TV (@elchiringuitotv) February 28, 2022
According to him, token issuance is Barca’s way to secure capital and compete with other clubs owned by foreign investors and corporate organizations.
While the idea of a fan token is not new, Barca could become the first football club to have its own cryptocurrency. The club president also suggested the possibility of developing Metaverse and NFT.
Ukraine has received the Starlink device promised by Elon Musk
SpaceX has made Starlink gear available to Ukraine, as promised by its founder Elon Musk. This hardware will provide high-speed Internet access to domestic users who are experiencing disruptions due to the Russian military invasion.
Ukraine has received a number of terminals necessary to connect to the Starlink Internet satellite. The network is operated by SpaceX, founded and managed by US technology entrepreneur Elon Musk, and provides high-speed broadband internet worldwide.
Mykhailo Fedorov, Deputy Prime Minister and Minister of Digital Transformation of Ukraine, notification about receiving the device from you…