Crypto News August 16: Bitcoin holds steady support for the momentum of nearly $ 50,000 with the news from Dogecoin, Cardano, Solana, Chainlink, Web3 Foundation, Huobi, Unreal Finance, NFT, Blockchain
From the notion that Bitcoin is constructing momentum in the direction of the $ 50,000 area to the LINK whales who do not need to hold cash of their pockets all the time proper now. Here are some highlights from the crypto market.
Bitcoin (BTC) holds support above $ 42,000 and will face resistance close to $ 50,000. The cryptocurrency is at present trading at round $ 47,400, up 3% over the previous 24 hours.
The short-term upward pattern stays intact. Bitcoin stays in breakout mode after leaping above $ 42,000, marking the completion of a two-month interval of accumulation.
BTC 4-hour chart | Source: TradingView
The relative energy index (RSI) on the 4-hour chart is close to the overbought zone, indicating that brief pullbacks are doable. The final time this indicator entered the overbought zone was July twenty sixth earlier than the BTC price fell 10%.
Bitcoin has held a collection of larger highs since breaking the $ 42,000 mark on August 6. This signifies that patrons will proceed to defend that support as the broader uptrend improves.
Players of Watford Football Club, a British skilled soccer staff primarily based in Watford, Hertfordshire, put on symbol Dogecoin on her sleeve. This staff wore Bitcoin jerseys final season.
In July, Watford Football Club introduced a partnership with Stake.com, the international sports activities betting platform.
According to the announcement, “To rejoice the begin of the partnership, Stake will run cryptocurrency promotional campaigns, together with giveaways price 10 million Dogecoins, on their platform.
Charles Hoskinson, CEO of IOHK, has reiterated that Mike Novogratz, CEO of Galaxy Digital, has doubts about Cardano’s progress wave.
On August 15, Novogratz tweeted that ADA, the largest proof-of-stake mission, took third place on CoinMarketCap, was “a mystery” to him.
He then added that none of the “smartest” folks in the market had seen any progress at Cardano in phrases of developer exercise.
In flip, Hoskinson attacked Novogratz, accusing the former Goldman Sachs government of having connections with bankers and predicting that his latest claims have been unfaithful and unfounded.
Here I can appropriate that assertion for you, Mike: “I’ve spoken to twenty of the brightest bankers I know in the industry, and none of them saw that cryptocurrencies are attractive” ???? we have all heard that
Let’s come again to his tweet yearly. We’re calling on August fifteenth, Mike check-in day https://t.co/sax18Fe7XX
– Charles Hoskinson (@IOHK_Charles) August 15, 2021
SOL, the token of the Solana blockchain mission, hit a brand new ATH at $ 64.90 with a 20% progress over the previous 24 hours.
Yesterday SOL hit $ 54 with a 23% progress. After the earlier price motion, the complete progress of the coin reached 46% in two days. Currently, SOL has fallen barely in the direction of $ 61.7 after hitting the ATH zone.
In addition to the fast rise in costs, the Solana blockchain has reached 24 billion transactions at 1,294 transactions per second. Currently, the Solana DeFi platform has greater than $ 1.8 billion in locked property.
SOL price desk | Source: Coinmarketcap
News chain hyperlink
According to the newest information from Santiment, Chainlink (LINK) whales don’t need to hold cash of their wallets all the time and like to distribute them to smaller buyers. LINK whales have steadily decreased their provide from 72% in September 2019 to 63% right this moment.
Chainlink’s price has risen steadily since late July, growing 112% in lower than a month. Currently, LINK is trading at $ 30 and the ATH at $ 53, which was hit in May.
???? #Chain link has risen to a 10-week excessive of $ 29.67 and crowd appreciation has but to catch up attributable to others #old additionally thrive. Likewise, $ LINKThe high 10 whales maintain 62.7%, the lowest ever share of provide, with new entries being added. ????https://t.co/XZBjbZ3W3t pic.twitter.com/Qtijut1bhJ
– Santiment (@santimentfeed) August 16, 2021
News from the Web3 Foundation
The Web3 Foundation has reached the 300 grant mark. Since the begin of the scholarship program in December 2018, a complete of 840 purposes have been acquired, of which 302 have been accepted. So far, 143 groups have accomplished their initiatives and 212 groups have efficiently accomplished the first milestone.
The Web3 Foundation’s General Grants Program and Open Grants Program have unify to simplify the registration course of. The new scholarship program at present provides three completely different ranges, together with:
- Level 1 is for people, with grants as much as $ 10,000.
- Level 2 for small groups / startups with grants as much as USD 50,000.
- Level 3 is for firms / organizations with a confirmed observe file and with limitless funding.
The quantity of Huobi tokens that Huobi Global burned in July reveals turnover of cryptocurrency exchanges might have been down final month.
The complete worth of HT burned decreased 54% from June to $ 22.3 million.
Token burning is positively correlated with gross sales, so a lower in the quantity of tokens burned signifies a lowering pattern in alternate earnings.
Unreal monetary news
Unreal Finance, a decentralized platform that permits customers to tokenize earnings generated from credit score logs, will do IDO on CardStarter.
penalties notification, the IDO mission will likely be out there on CardStarter on August 23 at 10:00 p.m. (Synthetic Team time). Registration begins on August 16 at 10:00 p.m.
Chinese tech big Tencent’s on-line music firm QQ Music has participation entered the NFT conflict and offered his first NFT with well-known singer Ho Ngan Bin.
Over the weekend, all 1,983 public copies of NFTs entitled “Monk,” a music by Ho Ngan Bin, have been offered out in a lottery of nearly 80,000 registered.
Each NFT sells for 199 yuan (about $ 30.70).
In items The Redmond-based software program big was lately revealed by Microsoft’s analysis division, with the participation of researchers from Alibaba and Carnegie Mellon University, and is engaged on a blockchain-based incentive system to support anti-piracy campaigns.
The examine, titled “Argus: A Fully Transparent Incentive System for Anti-Piracy Campaigns” reveals that Microsoft’s new system will possible work on the clear side of blockchain expertise.
Argus is constructed on high of the Ethereum blockchain and goals to offer an incentive mechanism whereas defending the information collected from nameless piracy stories.
Walmart hires staff leaders for digital currencies and crypto merchandise.
Walmart, the largest retailer in the United States, is recruitment Head of the product staff for digital currencies and cryptocurrencies.
One of the duties of the new worker is to drive the trading big’s digital forex technique. Identifying crypto-related partnerships and investments may even be half of this place.