Crypto Briefing July 21: Peter Schiff warns with the news Flare, Enjin, Litecoin, Tether, FTX, USDC, Dotmoovs, Karura, MakerDAO, SushiSwap that $ 30,000 has become a resistance for Bitcoin

Jul 21, 2021

From the perception that $ 30,000 has become a resistance for Bitcoin, OKEx comes and Kraken has announced the listing of KAR, Kusama’s first parachain. Here are some highlights from the crypto market.

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Bitcoin news

Bitcoin rallied slightly after the July 20th sell-off.

The world’s largest cryptocurrency rose to $ 30,923 at 12:39 GMT on the Bitstamp exchange.

However, gold bug Peter Schiff thinks the Bitcoin market is still in a downtrend.

In his most recent tweet, he said the $ 30,000 area has now become a resistance for Bitcoin.

Schiff also noted that Bitcoin “fell” on Tuesday while other risk assets rallied.

Bitcoin is still the best performer in the crypto market

Bitcoin remains the best performer in the crypto market, according to a recent report by Arcane Research, with BTC dominance increasing as altcoins drop to their support levels.

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Bitcoin is still the best performer in the crypto market | Source: Arcane Research

Bitcoin’s dominance at the time of publication is 46.92%, while ETH follows at 16.96%. USDT (5.12%), BNB (3.72%), ADA (2.86%) outperformed XRP (2.05%) and DOGE (1.82%).

The graph above shows the Bitcoin retracement since the beginning of July 2021 at 11.2%. Large-cap coins have lost 18.5% while small-cap tokens have lost 19.6%. Mid-cap coins fell the most, -22.4%.

ARK continues to buy more shares in GBTC

According to the file Trading is published daily, Cathie Woods ARK Invest bought an additional 140,157 Grayscale Bitcoin Trust shares for the ARK Next Generation Internet ETF on Tuesday.

It did after the popular asset management company added 310,000 GBTC shares on Monday.

The ARK Next Generation Internet ETF, which primarily offers technologies such as artificial intelligence, big data, deep learning and blockchain, currently owns 9 million GBTC shares with a total market value of $ 216 million.

Bitcoin is likely to continue to decline

The experienced commodity analyst and trader Peter Brandt has published a Renko diagram for the leading cryptocurrency Bitcoin.

This chart, sourced from Japan, shows Bitcoin’s rally to $ 65,000 and the decline that has occurred since April, both as strong trends.

The graph shows that BTC’s uptrend ended on April 14th at a high of $ 64.863 and has since moved into negative territory.

News torch

Hugo Philion, co-founder and CEO of Flare Networks, the self-help group for the Flare Blockchain (FLR), posted a detailed article about the “rehearsal” before the Flare mainnet officially goes live.

According to the blog post, Flare (FLR) engineers will test some of the network’s functionality in an isolated environment. Therefore Flare (FLR) will launch its Canarian network Songbird in the next six weeks.

news

The United Nations Global Compact, a pact designed to encourage companies to pursue sustainable social development policies, has accepted the participation of the non-fungible tokens (NFT) and the blockchain gaming platform Enjin.

On Tuesday it was Enjin notification that they will seek to use the NFT to promote equitable and sustainable development as part of the United Nations Treaty.

The United Nations Global Compact, a pact designed to encourage companies to pursue sustainable social development policies, has accepted the participation of the non-fungible tokens (NFT) and the blockchain gaming platform Enjin.

On Tuesday, Enjin announced that it would use the NFT to promote equitable and sustainable development under the UN Treaty.

The company proposes to use blockchain technology to fight climate change by deploying it in carbon storage companies while reducing the global gap between rich and poor and allowing creators around the world to access the NFT market.

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