Connect with us

Blockchain

Tron, Augur, Maker Price Analysis: 16 January

Avatar

Published

on

TRX moved within a fixed channel as momentum rested with neither the market’s bulls nor the bears. Augur looked to claw back to the $21.6-mark, but a boost from market leaders BTC and ETH might be required to make the ascension possible on the charts. Finally, MKR looked to break above $1,563 and targeted a move closer to its record high levels.

Tron [TRX]

Source: TRX/USD, TradingView

Tron revisited the $0.029-level after bouncing back from $0.027. However, the crypto’s price failed to break above its immediate resistance and traded between $0.029 and $0.031 over the past couple of days. The next few trading sessions could see the price trade back and forth between the aforementioned channel, since the indicators remained neutral and did not specify a breakout in either direction.

The Awesome Oscillator was bullish-neutral and showed a balance between the buying and selling pressure. A bullish outcome could see the index rise above the equilibrium-mark, while the price could look to target the $0.032-resistance level.

The Bollinger Bands were converging at press time and highlighted low volatility in the crypto’s price. This hinted at the possibility of TRX trading between its present channel moving forward.

Augur [REP]

Source: REP/USD, TradingView

Augur looked to climb back towards the $20-mark at press time as the price rose by over 3% in 24 hours. A rise above the press time resistance could confirm a bullish trend, while the price could look to target the $21.6-mark after doing so. However, a broader market rally might be required to push REP towards the aforementioned levels as the indicators were bullish-neutral on the crypto-asset moving forward.

The MACD was on the verge of a bullish crossover, but the momentum could shift either way as the bars on the histogram seesawed at the equilibrium mark.

The Chaikin Money Flow stabilized above zero and hinted that capital inflows could prevent the price from moving lower on the charts. However, it also suggested that an external impetus would be needed to boost the price beyond its upper ceiling.

Maker [MKR]

Source: MKR/USD, TradingView

After scaling to a record high of $1,999, Maker cooled down and fell below several key levels till it found support at $1,153. The price rose once again from this level, but the gains were capped at the resistance level of $1,563. However, sellers might struggle to keep the price below its current resistance as the indicators were largely bullish for MKR.

If the Stochastic RSI continues its upward trajectory into the overbought zone, the price could break above its immediate barrier and head close to record levels once again.

The Chaikin Money also confirmed the possibility of a bullish outcome as more capital was moving into the cryptocurrency.

Source: https://ambcrypto.com/tron-augur-maker-price-analysis-16-january

Blockchain

XRP, Polkadot, Cosmos Price Analysis: 03 March

Avatar

Published

on

At the time of writing, bullish movements were underway across the crypto-market, with the same precipitated by Bitcoin’s foray above the $50,000-mark. Thanks to BTC’s movement and owing to the correlation shared by the market’s alts with the world’s largest cryptocurrency, the likes of Polkadot, XRP, and Cosmos were all rallying. At press time, however, their daily charts were yet to register more than a minor uptick in price trend.

XRP

Source: XRP/USD on TradingView

Once one of the mainstays of the market top-five, XRP, at the time of writing, was ranked 7th on CoinMarketCap’s charts. Thanks to its own topsy-turvy price performance over the last few months and the performances of altcoins such as Polkadot and Cardano, the crypto is no longer among the market’s top-five.

Like the rest of the market, XRP too bore the brunt of corrections after Bitcoin dropped below $50,000. In fact, the altcoin fell by over 25% in a 5-day period.

Over the last three days, however, the cryptocurrency seemed to be gaining some bullish momentum. In fact, on the hourly charts, XRP’s hike was observed to be even more significant. However, at the time of writing, it was still difficult to predict whether the crypto would be able to sustain its movement north.

On the contrary, XRP’s indicators continued to flash bearish signals as while the Parabolic SAR’s dotted markers were well above the price candles, the Awesome Oscillator was still noting negative market momentum.

With the legal status of XRP still up for debate in the United States, it is difficult to ascertain what the future has in store for the altcoin.

Polkadot [DOT]

Source: DOT/USD on TradingView

One of the cryptos to have replaced XRP on the rankings, the last few weeks and months have been great for Polkadot, with the altcoin registering its ATH just a few weeks back. However, like most alts, it too dropped dramatically on the charts after BTC’s depreciation, with the crypto falling by 17%.

Curiously, since then, DOT has been on an impressive uptrend, with the alt up by over 22% in the last 7 days. With the rest of the market pumping at press time, it seemed likely that these gains would be pushed even higher.

While the width of the Bollinger Bands suggested some degree of near-term price volatility, the Relative Strength Index was nearing the overbought zone. Here, it’s worth noting that XRP’s price has corrected itself the last two times the RSI has climbed into the said zone.

The project made headlines recently after a Polkadot-based platform raised $1.6M in funding from venture capitalists.

Cosmos [ATOM]

Source: ATOM/USD on TradingView

ATOM’s price movements shared more similarities with the likes of XRP, than Polkadot, with the altcoin also gaining on the charts only recently. In the last 7 days alone, ATOM has climbed by 12%. However, the said hike did come on the back of a 16% depreciation. While the altcoin’s market was trending upwards at the time of writing, it is worth noting that ATOM’s indicators on the daily timeframe were yet to underline any bullishness.

While the MACD line was under the Signal line, despite the bearish momentum falling on the histogram, the Chaikin Money Flow was heading south. If these indicators reverse course in the near-term, a trend reversal can be expected soon.


Sign Up For Our Newsletter


Checkout PrimeXBT
Trade with the Official CFD Partners of AC Milan
Source: https://ambcrypto.com/xrp-polkadot-cosmos-price-analysis-03-march

Continue Reading

Blockchain

Bitfinex launches Bitfinex Pay for merchants to accept payments in ETH, BTC

Avatar

Published

on

Crypto exchange Bitfinex launched a payment widget dubbed Bitfinex Pay that will aim to provide online merchants with a means of receiving “seamless” digital token payments.

Merchants can integrate the payment technology onto a website facilitating e-payments. Users will have the option to pay with various cryptocurrencies which include Ethereum (ETH), Bitcoin (BTC), Lightning Network BTC (LN-BTC) and Tether (USDt) via Ethereum or Tron. 

Payments made via Bitfinex Pay will be directly deposited into a merchant’s exchange wallet on Bitfinex. The value of payments is capped at $1,000. 

Furthermore, customers will not have to pay any processing fees for using Bitfinex Pay. However, transaction fees incurred on the relevant blockchain will be borne by online merchants and their customers.

In a release shared with AMBCrypto CTO at Bitfinex Paolo Ardoino said: 

Bitfinex Pay enables merchants to be easily equipped to support crypto payments as increasing numbers of consumers become more comfortable with paying for goods and services using digital tokens.

“Eligible” merchants who choose to integrate the widget on their websites will first need to register and verify their Bitfinex account to at least the intermediate level and apply for merchant verification. Merchants can create a sub-account on verification. 


Sign Up For Our Newsletter


Checkout PrimeXBT
Trade with the Official CFD Partners of AC Milan
Source: https://ambcrypto.com/bitfinex-launches-bitfinex-pay-for-merchants-to-accept-payments-in-eth-btc

Continue Reading

Blockchain

‘Bitcoin Senator’ Lummis Optimistic About Crypto Tax Reform

Sen. Cynthia Lummis, the first in the Chamber to own Bitcoin, says bipartisan support will accelerate crypto tax reform.

Avatar

Published

on

In brief

  • A Senator who owns Bitcoin is hopeful bipartisan support will lead to a “de minimis” crypto tax exemption.
  • The CEO of crypto storage Anchorage said state governments have a new interest in owning crypto.

Sen. Cynthia Lummis (R-Wy) expressed hope on Wednesday that Congress will be able to reform the tax rules governing cryptocurrency, which have been a longtime bugbear for Bitcoin owners and the burgeoning crypto industry.

“We’re optimistic we can find bipartisan agreement on that issue,” said Lummis during a meeting with crypto executives and policy makers on the social media app Clubhouse.

The comment from Lummis, who has owned Bitcoin since 2013, came in response to a question about whether Congress will pass a proposed law calling for a “de minimis” tax exemption for small cryptocurrency transactions.

Currently, IRS guidance stipulates that any minor crypto transaction—such as sending $5 worth of Bitcoin to a friend or using it to buy a cup of coffee—can amount to a capital gains event. Critics say this rule creates needless tax headaches, and discourages innovation by limiting the use of crypto in day-to-day transactions.

And while the IRS has become preoccupied with collecting tax on crypto—a question about virtual currency is now at the top of filers’ income tax return—the agency has done little to simplify the process for reporting it.

Lummis’s interest could help accelerate the passage of crypto tax reform, which has been proposed in bills before the House of Representatives, but never in the Senate. Lummis, whose home state of Wyoming has branded itself as a crypto hub, also pointed to a new Financial Innovation Caucus she is leading with Sen. Kyrsten Sinema (D-Az) as evidence of bipartisan interest in the issue.

Policy researchers on the Clubhouse call cautioned, however, that passage of crypto legislation is unlikely to occur in the near future. The Biden Administration and Congress is currently wrangling over weighty issues related to the pandemic and economic stimulus, so crypto taxation—a relatively boutique issue—is unlikely to be a high priority.

More broadly, members of the call noted that lawmakers are becoming more knowledgable about cryptocurrency, and not only at the federal level.

Nathan McCauley, the CEO of crypto storage service Anchorage, said that his company has been speaking with several state governments about adding crypto to their corporate treasuries—a move that would mirror what big private sector companies like Tesla and Square have done in recent months.

McCauley suggested the states’ interest in crypto is related to a search for alternate finance and investing options at a time when bond markets are in a prolonged slump.

Checkout PrimeXBT
Trade with the Official CFD Partners of AC Milan
Source: https://decrypt.co/60059/bitcoin-senator-lummis-crypto-tax-reform

Continue Reading
Blockchain5 days ago

MicroStrategy Adds More Than $1 Billion in BTC to Its Asset Stash

Blockchain5 days ago

DEX aggregator 1inch expands to Binance Smart Chain

Blockchain5 days ago

Mask Network is About to Airdrop $30 Million Worth of Tokens 

Blockchain5 days ago

Coinbase Hints Token Issuance, While ADA Goes Up (Feb. 27, 2021)

Blockchain5 days ago

Dubai Crypto Funds Backing Helps Cardano (ADA) Unsettle Binance Coin (BNB) As The Third Largest Crypto

Blockchain5 days ago

Veteran Analyst Explains Why is Bearish on Bitcoin Right Now, Says $100K ‘Years Away’

Blockchain5 days ago

This was avoidable – The lost Bitcoin fortunes

Blockchain5 days ago

Bitcoin Bull Run is Far From Over as FOMO Hasn’t Set in Yet, Analysis Suggests

Blockchain4 days ago

Grayscale eyes alts such as Cardano, Aave, Chainlink for new investment products

Blockchain4 days ago

Crypto can be lucrative, but make sure you’re ready for the taxman

Blockchain4 days ago

Large Swiss Bank To Offer Crypto Trading to Customers

Blockchain5 days ago

Komodo’s AtomicDEX stress test proves success as a scalability solution

Blockchain4 days ago

US SEC releases framework for future crypto regulations.

Blockchain4 days ago

Binance to Support Cardano (ADA) Upgrade and Hard Fork

Blockchain5 days ago

Polkadot price prediction: DOT to decline to $25

Blockchain5 days ago

Why Is Cardano Pumping While Other Cryptocurrencies Are Slumping?

Blockchain5 days ago

Why Are Blockchain Oracles the Life-Blood of Smart Contracts?

Blockchain5 days ago

Here’s how IOHK’s glow will simplify smart contract writing for Cardano

Blockchain5 days ago

Will Chainlink find enough momentum for a recovery run?

Blockchain4 days ago

Ethereum Update: ‘Berlin’ Hard Fork, EIP-1559, ETH 2.0 Beacon Chain, First ETH ETF

Blockchain12 hours ago

Ethereum’s Top 10 Whale Addresses Add 1 Million ETH In A Day, Evolve Files for Ether ETF

Blockchain5 days ago

‘Bitcoin could reach $1 million or $1, and may do both of those’

Blockchain5 days ago

CFN Enterprises Inc. Launches Cannabis News Series to Broadcast on Bloomberg, Newsmax & Fox Business

Blockchain5 days ago

‘UK could become a global leader for issuance, trading and exchange of crypto’

Blockchain5 days ago

Bitcoin Witnesses 10% Tumble As Market Crash Intensifies

Blockchain5 days ago

Coin Bureau: How to Avoid Getting Burned in Altcoin Market

Blockchain4 days ago

Will the EU Class Spot FX Contracts Under Market Abuse Regulation?

Blockchain13 hours ago

SEC Chair Nominee Gary Gensler Calls Bitcoin (BTC) “A Catalyst for Change”, Is Bitcoin ETF Coming Soon?

Blockchain5 days ago

Investing in the New Memeconomy: How Meme Stocks Work

Blockchain5 days ago

Market Roundup: Bitcoin Bearish Run Still Holding Firm

Blockchain5 days ago

Blockchain and crypto will challenge current finance, Nigeria VP says

Blockchain4 days ago

Explaining Binance Coin’s (BNB) Surge Past DOT, XRP, and Litecoin

Blockchain22 hours ago

Alt Season 2.0: Analyst Claims It’s “Showtime” For Ethereum

Blockchain16 hours ago

Rarest Pepe — ‘most important NFT in art history’ — sells for 205 ETH

Blockchain4 days ago

Ripple Woes Hit Our Bottom Line, Says Moneygram CFO

Blockchain21 hours ago

Multiple assets can ‘behave like ADA’ through Cardano’s Mary upgrade

Blockchain19 hours ago

Mainnet launch and NFT sale lift Aavegotchi (GHST) to a new all-time high

Blockchain14 hours ago

Bitcoin Price Forecast: BTC elevation to $52,000 catches momentum

Blockchain5 days ago

Bank Of Korea Chief Executive Says Crypto Has No Intrinsic Value

Trending