|All Time High:
|The price of #AUCTION today is $28.71 USD.
The lowest AUCTION price for this period was $0, the highest was $28.71, and the exact current price of one AUCTION crypto coin is $28.70826.
The all-time high AUCTION coin price was $70.82.
Use our custom price calculator to see the hypothetical price of AUCTION with market cap of BTC or other crypto coins.
|The code for Bounce is #AUCTION.
Bounce is 3 years old.
|The current market capitalization for Bounce is $205,972,689.
Bounce is ranking upwards to #230 out of all coins, by market cap (and other factors).
|The trading volume is large today for #AUCTION.
Today's 24-hour trading volume across all exchanges for Bounce is $43,297,225.
|The circulating supply of AUCTION is 7,174,685 coins, which is 72% of the maximum coin supply.
A highlight of Bounce is it's limited supply of coins, as this tends to support higher prices due to supply and demand in the market.
Unlocking the Future: Why Developers Should Build Within Bitcoin Ecosystem
In the ever-evolving landscape of blockchain development, the choice of ecosystem defines a developer’s journey. This article embarks on a narrative-driven exploration, inviting developers to join a transformative journey into the Bitcoin (BTC) ecosystem. The path is illuminated by Bitcoin’s largest unused Total Value Locked (TVL), decentralized governance, and a commitment to practicality.Bitcoin’s Untapped Total Value Locked (TVL) As our journey begins, envision a vast and uncharted landscape within the Bitcoin ecosystem. Like a hidden treasure trove waiting to be discovered, Bitcoin boasts the largest unused Total Value Locked (TVL). Developers, equipped with innovation and curiosity, find themselves standing at the precipice of untold possibilities. The untapped potential within Bitcoin’s ecosystem is not just an opportunity; it’s an invitation to pioneer unexplored frontiers.Decentralized Governance: Bitcoin vs. Ethereum Venturing deeper into our narrative, the trail leads to a crossroads: decentralized governance. In the Bitcoin realm, there are no central authorities pulling the strings. Instead, power is distributed among a diverse array of stakeholders. Picture a decentralized council where every voice matters, in stark contrast to Ethereum’s centralized governance under the Ethereum Foundation. Here, developers find a haven where decisions are made collectively, fostering autonomy and innovation.Practic...
BitSwap & Ladder Jointly Launches $AMMX On Bounce Launchpad: “Two Birds, One Stone”
Bounce Brand is excited to introduce an innovative launchpad concept, designed to support two projects in jointly launching a single token. The first project of these two projects is BitSwap, the first cross-chain swap for BRC20 and Bitcoin Ecosystem. The other project involved is Ladder, a decentralized AMM protocol that offers instant liquidity for NFTs. These two projects have collaborated to launch a new token, $AMMX, on the Bounce Launchpad. This collaborative approach, symbolically referred to as “Two Birds, One Stone,” aims to transform the token launch experience. It focuses not only on the successful launch of the token but also on ensuring its long-term value and utility across multiple platforms. The $AMMX Token Launch is scheduled to be live on Bounce Launchpad from 12/24/2023 4AM UTC to 12/28/2023 4AM UTC. A total supply of 1,050,000,000 will be allocated to 3 auction pools: An $AUCTION Staking Pool, a $DAII Staking Pool, and a $MUBI Random Selection Pool. Let’s dive into all the details about the $AMMX Token Launch.What is BitSwap? BitSwap Protocol is the first cross-chain swap for BRC20 and Bitcoin Ecosystem, offering a seamless trading experience for BRC20 assets across diverse blockchains. As the premier liquidity hub for the Bitcoin ecosystem, BitSwap enables effortless and secure cross-chain transactions through collaboration with Multibit Bridge and DAII stablecoin powered by BitStable. BitSwap is d...
“Two Birds, One Stone” Token Launch Coming Soon On Bounce Launchpad
In the dynamic blockchain sphere, Bounce Launchpad is about to unveil a novel fusion this week, introducing a “Two Birds, One Stone” approach to token launches. This innovative strategy involves two separate teams collaboratively launching a single token, a concept that is both groundbreaking and efficient. The identities of these pioneering projects remain under wraps for now, adding an element of mystery and anticipation to the launch. Their collaboration represents a significant shift in the traditional token launch model, promising a transformative impact on the blockchain ecosystem. This unique token launch will utilize $AUCTION and $DAII as the currencies for participation. The process involves two distinct auction pools on Bounce Launchpad: one for $AUCTION staking and another for $DAII staking. This dual mechanism not only diversifies the participation options but also highlights the unique attributes of each token involved. As the blockchain community stands at the precipice of this mysterious journey, the path ahead is filled with intrigue and potential. The decision to keep the orchestrators’ identities secret is a strategic one, aiming to make the eventual reveal a significant moment in the decentralized world. This “Two Birds, One Stone” launch is not just a token event; it’s a pioneering step in blockchain innovation, inviting everyone to stay engaged as the full details are soon to be disclosed. We a...
$BDID Token Launch Recap
This week marked an important milestone in the digital identity space with the collaboration between Bounce and GoDID, a leading DID marketplace aggregator and incubator of BDID specializing in Ordinals DIDs. The much-anticipated launch of BDID’s native token, $BDID, successfully took place on Bounce Launchpad, starting from 1 PM UTC on December 15th and wrapping up by the same time on December 17th. The launch was structured around three auction pools, with a total supply of 400,000,000 $BDID tokens allocated for distribution. This article presents a comprehensive recap of the $BDID Token Launch on Bounce Launchpad. Let’s dive into the details!$AUCTION Random Selection Pool Participation Rules In the $AUCTION Random Selection Auction Pool on Ethereum mainnet, 100,000,000 $BDID tokens were allocated. The Bounce Random Selection Auction is an auction mechanism where participants buy entry tickets, and winners are randomly selected by our onchain smart contract. For the $BDID Token Launch, 20,000 entry tickets were available, with 150 winning spots. The large number of tickets aimed to reduce the likelihood of bots/scripts monopolizing the tickets. Our smart contract also made sure that each account could only buy one ticket. Each entry ticket cost 62.5 $AUCTION, and each winner receives 666,666 $BDID tokens. Auction Results The $BDID Random Selection Pool was live from 12/15/2023 1PM UTC to 12/17/2023 1PM UTC. After the p...
Bounce Newsletter 12/17/2023
Welcome back to Bounce Newsletter! This is where you’ll find your weekly dose of all news from the Web3 world and beyond. From the freshest updates from Bounce Finance, to exciting project highlights and some of the most compelling auction news from around the world, we’ve got you covered. We’re here to keep you informed and engaged, transforming our newsletter into your one-stop-shop for updates. So sit back, grab your favorite drink, and let’s BOUNCE into this week’s hot topics!Bounce Updates: Rebrand As Bounce Brand & More Bounce Finance has rebranded as Bounce Brand, marking a new phase in the Bitcoin ecosystem. Its key components are: 1. Bounce Bit: A BTC staking chain solution utilizing the BVM and zk rollups for efficient transaction verification. 2. Bounce Box: Enables users and creators to interact with DeFi in a customized way, with creators designing unique DeFi environments for various financial activities and users choosing spaces that align with their financial objectives. 3. Bounce Auction: An onchain auction protocol offering diverse auction mechanisms as part of the Auction-as-a-Service experience. This week, Bounce partners with GoDID, a DID marketplace aggregator and the incubator of BDID which specializes in Ordinals DIDs, to launch BDID’s native token, $BDID. The $BDID token launch commenced on Bounce Launchpad at 1PM UTC on December 15th, lasting for 48 hours. A total supply of 400,000,0...
GoDID Presents $BDID Token Launch on Bounce Launchpad
Bounce Brand is excited to partner with GoDID, a DID marketplace aggregator and the incubator of BDID which specializes in Ordinals DIDs. We’re marking this collaboration with the launch of BDID’s native token, $BDID. The $BDID token launch is going live on Bounce Launchpad at 1PM UTC on December 15th, lasting for 48 hours. A total supply of 400,000,000 $BDID are allocated to 3 auction pools, providing diverse claiming options for participants. Let’s dive into the details of this token launch.What is GoDID & What is BDID? GoDID is a marketplace aggregator for decentralized identities(DIDs) that currently serves ENS, Space ID and Bitcoin Ordinals DIDs. It offers the most user-friendly and cost-effective ENS platform with diverse features, including the ENS module built using OpenSea’s Seaport contract. Bdid.io, incubated by GoDID, specializes in the registration, transaction, and management of Ordinals Decentralized Identifiers (DIDs). The platform is uniquely positioned to support a wide array of mainstream DIDs within the Ordinals ecosystem, such as .sats, .bitmap, .btc, among others.$𝐁𝐃𝐈𝐃 𝐓𝐨𝐤𝐞𝐧 𝐋𝐚𝐮𝐧𝐜𝐡 𝐃𝐞𝐭𝐚𝐢𝐥𝐬 A total supply of 400,000,000 $BDID are allocated to 3 auctions👇 $𝑨𝑼𝑪𝑻𝑰𝑶𝑵 𝑳𝒐𝒕𝒕𝒆𝒓𝒚 𝑨𝒖𝒄𝒕𝒊𝒐𝒏 📍: app.bounce.finance/godid-rs-auction ⏰: 12/15/2023 1PM UTC ~ 12/17/2023 1P...
Bitcoin Is The Future: Navigating Decentralization, Innovations, and the Transformative Taproot…
Bitcoin Is The Future: Navigating Decentralization, Innovations, and the Transformative Taproot Upgrade - Embark on a journey beyond the ordinary; step into the boundless universe of Bitcoin. In a world increasingly defined by digital transactions, Bitcoin isn’t just a currency; it’s a dynamic ecosystem reshaping the future of finance. Picture an open-source symphony where decentralized nodes dance, securing financial sovereignty in a network free from single-point control. Beyond the buzz of cryptocurrency markets, Bitcoin’s heartbeat is decentralized, vibrant, and pulsating with recent groundbreaking successes, leading to an upgrade known as Taproot. Brace yourself as we unfold the layers of this financial enigma — a revolution that transcends transactions.Decentralization A Pillar of Strength: Bitcoin’s allure lies in its decentralized heartbeat, a stark contrast to the centralized drumbeats of traditional financial systems. Imagine a network where no single entity calls the shots; instead, a global symphony of nodes validates transactions, creating a decentralized dance of financial empowerment. In this narrative, Bitcoin emerges as a liberating force, challenging norms, and ushering in a decentralized future where financial autonomy is paramount. It’s not just a currency; it’s a rebellion — a decentralized revolution.Catalyzing Innovation: As Bitcoin’s value surges, it sparks an innovation renai...
Bounce Finance’s Strategic Decision: Why Building in the BTC Ecosystem Matters
Vintage Coin, Fresh Vision $AUCTION by Bounce Finance, a seasoned token that consistently innovates, embarks on a new journey of building within the Bitcoin ecosystem. This strategic shift is fueled by a profound understanding of market mechanics and the unique potential of Bitcoin.The Anatomy of a Bull Market A thriving bull market relies heavily on two main factors: the influx of external capital and the enhancement of internal capital leverage. Influential financial entities like BlackRock are pivotal in driving external capital, especially with the advent of a BTC ETF which could be a game-changer. However, enhancing internal capital leverage requires more dedicated efforts within the crypto community. While Ethereum has seen a surge in DeFi innovations like LSD and restaking to leverage ETH, Bitcoin has not yet been the focus of similar endeavors.Learning From the Past Reflecting on the previous market cycle, we observe how centralized finance (CeFi) groups such as Genesis, Babel, and Amber played a crucial role in driving the bull market by enabling Bitcoin lending and borrowing, thus creating leverage. Their eventual collapse, however, highlights the necessity for a diverse range of transparent financial services and infrastructure for Bitcoin, mirroring Ethereum’s DeFi environment.Asset Centricity in the Bitcoin World Bitcoin’s ecosystem, distinct from Ethereum’s, isn’t primarily designed for applications ...
Introducing BounceBit: A Blockchain Solution For Bitcoin Ecosystem, Based On BTCB & Powered By…
Introducing BounceBit: A Blockchain Solution For Bitcoin Ecosystem, Based On BTCB & Powered By $AUCTION - Bounce Finance is proud to unveil our latest innovation, BounceBit — a blockchain solution designed for the Bitcoin ecosystem. Based on Binance Bitcoin BTCB and powered by $AUCTION, BounceBit emerges at a crucial time in the current bullish market trend. This initiative is a testament to our commitment to enriching the Bitcoin ecosystem, not just through a BTC ETF but by introducing diverse utilities and functionalities. This article aims to explore how BounceBit is poised to address existing challenges within the Bitcoin landscape, thereby expanding its applications and enhancing its appeal in the digital finance arena.The Evolution of Bitcoin and Current Challenges Bitcoin has long stood as the leading force in the blockchain world, but its journey hasn’t been without challenges. Initially envisioned as a decentralized digital currency alternative to traditional fiat money, Bitcoin has faced hurdles, particularly in scalability, energy efficiency, and utility beyond just a store of value. These challenges have limited Bitcoin’s potential in a rapidly evolving digital finance landscape, especially when compared to platforms like Ethereum, which offers more versatility through its support for smart contracts and decentralized applications (DApps). Despite its monumental rise in value and acceptance, Bitcoin...
BitStable Presents the $BSSB Token Launch On Bounce Launchpad
Bounce Finance is partnering with BitStable, a protocol that enables the generation of DAII stablecoin against the bitcoin ecosystem collateral assets, to launch their native token $BSSB on Bounce Private Launchpad. The $BSSB Token Launch will be conducted in two rounds — 60% of the supply will be available for a Staking Auction round where participants stake $AUCTION tokens to earn proportional $BSSB allocation, and 40% will be available for a Fixed-Price Auction round where the price of each $BSSB token is 0.0000233 ETH. Let’s walk through the logistics of BitStable and the $BSSB Token Launch.What is BitStable? The BitStable Protocol is the platform through which anyone from anywhere can generate the DAII stablecoin against bitcoin ecosystem collateral assets.$BSSB Token Launch Details Total Supply: 10,500,000 $BSSB Total Raise: $500,000 Staking Auction Round Launchpad page: app.bounce.finance, Time: 11/29/2023, 4AM UTC ~ 11/30/2023, 4AM UTC, Auction Method: Staking Auction, Blockchain: Ethereum, Total Supply For This Round: 6,300,000 $BSSB, Staking Asset: $AUCTION, Total Raise For This Round: $300,000, Token Distribution: Immediate release once the auction ends, User guide: docs.bounce.finance, Fixed-Price Auction Round Launchpad page: app.bounce.finance, Time: 11/29/2023, 4AM UTC ~ 11/30/2023, 4AM UTC, Auction Method: Fixed-Price Auction, Blockchain: Ethereum, Total Supply For This Round: 4,200,000 $BSS...
More Bounce (#AUCTION) News
|Ordinals 'Genesis Cat' Fetches $254K in Sotheby's Auction
'Genesis Cat,' a 1-of-1 digital artwork in the Quantum Cats collection on the Bitcoin blockchain, has achieved a remarkable sale price of $254,000 along with several other notable sales at a recent Sotheby's auction.'Genesis Cat' Fetches Over Quarter Million Dollars in Sotheby's Sale
'Genesis Cat,' a unique piece of digital art created on the Bitcoin blockchain through the Ordinals protocol, sold for $254,000 at a recent Sotheby's auction.
Created by the artist and engineer Francisco 'FAR' Alarcon, Genesis Cat is a special 1-of-1 piece in the Quantum Cats collection, produced by the Taproot Wizards group. Initially estimated to sell for between $15,000 and $20,000, the artwork significantly exceeded expectations.
Sotheby's Metaverse account on X said of the sale, 'With over 50 Bids, 'Genesis Cat' by @0xfar for Taproot Wizards' has achieved an impressive $254,000 (6.31 BTC), 12X over the high estimate.'
The Quantum Cats collection, comprising 3,333 distinct digital cats, is the first public collection from Taproot Wizards. The quarter million sale of Genesis Cat, as the centerpiece of the Quantum Cats collection, represents a welcome result and confidence booster for Taproot Wizards, especially for their first major project following their successful fundraising of $7.5 million last year.
The recent Sotheby's auction, titled 'Natively Digital: An Ordinals Curated Sale,' featured 18 other digital art pieces in addition to 'Genesis Cat.' Highlights of the auction included Lot 1...
|Bitcoin's Obituary Bounce — Decline in 'Death Calls' Signals Resil...
Following numerous proclamations of bitcoin's demise in 2021 and 2022, totaling 47 and 27 on the Bitcoin Obituaries list respectively, a mere eight declarations were noted in 2023. The final one emerged at the year's end, attributed to crypto advocate Arthur Hayes, who warned that if exchange-traded funds (ETFs) achieve excessive success, 'they will completely destroy bitcoin.'Bitcoin Obituaries Dwindle in 2023
2023 has passed, and as recorded by the Bitcoin Obituaries list on 99bitcoins.com, a total of eight proclamations of bitcoin's end were noted. Apart from 2010, 2011, and 2012, the year recorded one of the lowest counts for bitcoin eulogies. There was one in 2010, six in 2011, and another single obituary in 2012. Notably, the initial declaration of bitcoin's demise in the year came from ex-U.S. Securities and Exchange Commission (SEC) official John Reed Stark and CNBC TV personality Jim Cramer.
Interestingly, while Stark continues his usual critique, Cramer has recently reversed his stance, now asserting that bitcoin (BTC) is 'here to stay.' Yet, in the year's first eulogy, Cramer was suggesting people divest from their cryptocurrency holdings. Last year's roster of individuals making death calls, as noted in the 2023 compilation, includes names like geopolitical analyst Peter Zeihan, JPMorgan chief Jamie Dimon, and venture capitalist Chamath Palihapitiya.
Renowned finance journalist from Daily Express and Sunday Express, Harvey Jones, declared in March that BTC and the...
|Will Bitcoin Drop Below $40K or is a Major Bounce in Play? (BTC Price An...
Bitcoin’s price has been rallying aggressively, breaking past several resistance levels with ease. Yet, the market is once again consolidating, and a correction might be on the cards.
Bitcoin Price Analysis: The Daily Chart
On the daily chart, the price has clearly been bullish over the past few weeks, making higher highs and lows. Yet, the rally has seemingly come to a halt, and the price is moving sideways above the $40K mark.
While the $40K level is holding firm, a deeper correction might occur, and the price could drop to $38K or even toward the 200-day moving average, located around the $32K mark.
However, as the market is yet to make a lower low and the relative strength index is indicating that the momentum is still bullish, BTC could still reach the critical $48K resistance level before beginning a significant correction.
The 4-Hour Chart
Looking at the 4-hour chart, it becomes clear that the price has been forming a triangle pattern above the $40K mark. If the pattern gets broken to the downside, a drop toward the $38K level could be expected.
On the contrary, a bullish breakout would likely result in a surge toward the $48K level. The relative strength index has also recently risen above the 50% threshold, signaling that a bullish breakout might be more likely.
Bitcoin’s price has been rapidly rising over the last couple of months, maki...
|Is Solana (SOL) Ready to Bounce Back After Binance Coin (BNB) Reclaimed ...
Solana (SOL) has seen a price drop to $105 and a fall in market capitalization, resulting in it losing its top four crypto ranking to Binance Coin (BNB).
BNB is experiencing a significant rise, with a recent 25% increase in price in a week and a market cap surpassing $50 billion.
Solana has a rebound potential due to its strong trading volume and success in the NFT market.
The Latest Shift in the Crypto Market
One of the best performers in the past several weeks (and throughout the entire year) - Solana (SOL) - has recently lost some ground, with its price sliding to $105 (per CoinGecko's data) and its market capitalization dropping below the $45 billion mark.
As such, the token lost its position as the fourth-largest crypto asset, with Binance Coin (BNB) taking its place.
The latter has been on a significant uptrend lately, experiencing a price increase of 25% in the past week and reaching almost $330 (the highest mark since May 2023). In addition, its market cap has exceeded the $50 billion level for the first time in eight months.
BNB Market Cap, Source: CoinGecko
Can Solana (SOL) Respond to the Attack?
It is worth noting that SOL's recent pullback might be just a minor correction, which could be followed by another rally in the near future. One factor supporting that thesis is the booming trading volume on the blockchain protocol as of late. According to DefiLlama, that figure has been well above $1 billion since the middle of December.
SOL Trading V...
|Decentralized Exchanges Bounce Back: $29 Billion Traded in November
The recent surge in cryptocurrency markets over the last month seems to have spilled over into the realm of decentralized finance (DeFi).
The trading volume on decentralized exchanges (DEX) has traditionally been considerably lower than that of centralized exchanges (CEX). However, the recent market rally has led to increased activity, albeit at a somewhat slower pace.
DEX Trading Volume Picks Up Pace
According to research from Kaiko, major platforms such as Uniswap and Curve on the Ethereum blockchain, as well as Pancakeswap on the Binance Smart Chain, have noted a surge in activity.
In November, the monthly trade volume on DEXs rebounded to $29 billion, recovering from a multi-year low experienced in September. Despite this improvement, it still falls significantly short of the all-time high of over $124 billion recorded in May 2021. The market share of DEX trade volume compared to CEX has also declined over the past year, dropping to just 3% in November, down from 5% in January.
Notably, in November 2020, during the peak of DeFi excitement, DEXs achieved an all-time high market share of 10%. This indicates that DEXs were more affected by the low market participation observed since the collapse of FTX.
While the largest DEX, Uniswap, has seen a reduction in its market share relative to Coinbase, it still holds a significant position at 40%.
The upswing in DEX activity is also evident in elevated lending rates. Increased lending rates, particularly for stablecoins, indicate ...
|Sotheby's Announces Auction of Bitcoin-Based 'Bitcoinshrooms' Collection
Sotheby's, the world's oldest fine art auction house, recently declared its intention to conduct an auction featuring Bitcoin-based Ordinal inscriptions, marking a first in the auction house's history. This online event is set to commence in December at Sotheby's New York, where an exclusive selection of 'Bitcoinshrooms' from the Shroomtoshi's Ordinals collection will be on display.Sotheby's Unveils Bitcoinshrooms Ordinals Auction
Michael Bouhanna, the lead for digital and contemporary art at Sotheby's, revealed the auction house's strategy to offer non-fungible token (NFT) assets that are created on the Bitcoin blockchain. These NFTs originate from the 'Bitcoinshrooms' Ordinals collection, which showcases an 8-bit artistic style. This unique collection is the brainchild of the digital artist Shroomtoshi.
Set to conclude in New York on December 13, 2023, at noon (EST), the Sotheby's Bitcoinshrooms auction is currently underway. As of now, all lots have attracted bids, with some even surpassing their anticipated prices. Additionally, bidders can purchase the Bitcoinshrooms NFTs using cryptocurrency, should they choose to do so.
'I am so excited to present Bitcoinshrooms, the first Ordinal sale at Sothebysverse, and we couldn't start with a better project,' Bouhanna said on the social media platform X. 'This is the first time works from the very anticipated collection will be available to the public.'
The trio of lots features 8-bit style Ordinals, including one depicting a mus...
|MetaBID Unveils Unprecedented 1 x Bitcoin (BTC) Auction as User Engageme...
[PRESS RELEASE - Seoul, South Korea, November 6th, 2023]
MetaBID, the groundbreaking digital asset auction platform that went live on November 4, is thrilled to report unparalleled user engagement and activity just two days after launch. The platform is attracting an ever-growing number of users eager to participate in these auctions set to transform the Web3 auction landscape.
Remarkable Start, Outstanding Auction Lineup
The auctions that have already kicked off have seen a surge in user participation. In particular, auctions for highly coveted assets XMR and BNB Coins, Crypto Punk #6995 worth more than 6800 USDT and the iPhone 15 Pro Max have seen high amounts of traffic since the launch of the platform on Saturday, November 4, 2023.
A wide array of highly sought-after assets are currently up for auction, with more scheduled to begin in the coming days (all times in UTC):
10 XMR Coins: November 6, 2023 at 09:00 am
1 ETH Coin: November 6, 2023 at 11:00am
Bored Ape Kennel Club NFT #3810: November 7 at 12:00 pm
1 Bitcoin (BTC): November 7 at 2:00 pm
Mutant Ape Yacht Club NFT #14730, November 10, 2023 at 09:00 am
Rolex Daytona Original: November 15, at 10:00 am
And many more, promising an eclectic and high-value auction experience for all involved.
The Game-Changer: 1 BTC Auction on November 7th
The defining moment everyone has been waiting for: MetaBID announced the auction of 1 BTC, starting November 7th at 2:00 pm UTC. With the starting bid set at only 1 USDT, this auction...
|Bitcoin Bounce Above $35,000 Puts Holder Profitability At Yearly Highs
Bitcoin has had an eventful week in terms of price action. The world's largest crypto saw an 18% increase in the past seven days, its highest percentage increase this year. This unexpected surge caused a flurry of short position liquidations, and according to Glassnode, 60,000 BTC worth of futures positions were closed. Amidst all the price surge, data from Glassnode has shown a large portion of investors are now breaking above profit.
Bitcoin Surges Past $35,000, Flipping Millions of Coins Into Profit
Bitcoin bulls managed to push Bitcoin price above $35,100 in the past 24 hours, marking the biggest one-day increase this year. The upward movement began near the $25,000 level and continued until it reached its new yearly high.
A blockchain analytics platform Glassnode report showed that Bitcoin zooming past $35,000 is a big deal for holders. At this price level, millions of BTC holdings were pushed into profitability. During this rally, the percent of supply in profit from the $25,000 to $35,000 price jump increased by a massive 4.7M BTC, equivalent to 24% of the total circulating supply.
Long-term investors, in particular, had a big break in profit at this price point. Although approximately 29.6% of long-term holder supply is still held at a loss, their aggregate holdings recently broke into a new all-time high of 14.899 million BTC.
Short-term holders were also not left out, as investor confidence has recovered from bearish to neutral...
|Bitcoin Cash Price Won't Go Down Quietly – Risk of Bounce Grows
Bitcoin Cash price is holding the key $220 support against the US Dollar. BCH seems to be aiming for a fresh increase unless there is a move below $220.
Bitcoin cash price is showing positive signs above the $220 level against the US Dollar. The price is trading above $220 and the 100 simple moving average (4 hours). There was a break below a key bullish trend line with support near $238 on the 4-hour chart of the BCH/USD pair (data feed from Kraken). The pair could start a fresh increase unless there is a move below $220. Bitcoin Cash Price Holds Support
In the past few days, Bitcoin Cash price saw a steady decline from the $255 resistance zone. BCH declined below the $240 support to enter a short-term bearish zone, like Bitcoin and Ethereum.
The price declined below the 50% Fib retracement level of the upward move from the $203 swing low to the $255 high. Besides, there was a break below a key bullish trend line with support near $238 on the 4-hour chart of the BCH/USD pair.
However, the bulls were active above the $220 support. The price found support near the 61.8% Fib retracement level of the upward move from the $203 swing low to the $255 high.
Bitcoin Cash is now trading above $220 and the 100 simple moving average (4 hours). Immediate resistance is near the $236 level. The next major resistance is near $244. Any further gains could lead the price toward the $250 resistance zone.
Source: BCH/USD on TradingView.com
The next major hurdle is near the $262 level, above w...
|Will Dogecoin Bounce Back To $0.07? Here's What To Watch For
Dogecoin (DOGE) has been ensnared in a prolonged period of stagnation, hinting at the ongoing battle between the bulls and bears for market control. This extended phase of inactivity has been persistent for over a month, signifying a short-term consolidation stage. Against the backdrop of a tumultuous cryptocurrency market, DOGE enthusiasts and investors are eagerly seeking cues for the coin's next move.
A meticulous examination of the daily chart in a price analysis unravels two distinctive patterns that have been shaping DOGE's price trajectory. There is a range formation with defined limits at $0.068 and $0.056, anchoring the coin's recent price movements. In addition, an ominous descending resistance trendline looms large, presenting an additional hurdle for DOGE's potential ascent.
Bearish Dogecoin Impediments And Crucial Thresholds
In light of the recent downturn in the broader crypto market, DOGE is currently grappling with formidable supply pressure around the $0.063 mark. The persistence of the descending trendline is emboldening sellers, increasing the likelihood of a retest of the enduring support at $0.059. Should this crucial level be breached, validated by a daily candle close, it could potentially intensify bearish sentiments, setting the stage for a 5.5% downturn toward the $0.056 level.
However, amidst this challenging terrain, the $0.059 support level converges with an ascending trendline, generating a region of heightened significance. Should the buyers se...
|Bounce to $2K or More Pain for Ethereum? (ETH Price Analysis)
After facing rejection for several weeks and experiencing a series of bearish developments, the price of Ethereum reached a critical point near a pivotal support area. This includes the 61.8% Fibonacci retracement level.
Fortunately, the price returned from this crucial zone, providing hope amidst the prevailing bearish sentiment. This rebound also indicates the possibility of a temporary consolidation phase.
The Daily Chart
Ethereum's price has been in a prolonged downtrend, breaking multiple support levels, including the crucial 100 and 200-day moving averages. As a result, Ethereum reached a multi-month low at $1,531. However, at this point, Ethereum's price encountered a critical support zone, spanning the range between the 50% and 61.8% Fibonacci retracement levels.
Despite this, market participants see this range as the final defense for Ethereum bulls. If the price drops below this threshold, it could increase the likelihood of a significant downward plunge.
In addition to these bearish signals, the 100-day moving average crossed below the 200-day moving average, forming a death cross event, which is a strong bearish signal. However, despite these bearish indicators, there is still hope that the price could find support and enter a consolidation phase, moving around the 200-day and 100-day moving averages.
The 4-Hour Chart
Shifting our focus to the 4-hour timeframe, we can see that Ethereum's price underwent a consolidat...
|Can Pepe Coin Bounce Back? Insights On Its Future Post-Critical Support ...
Pepe Coin has been on a wild ride in early September, characterized by significant price volatility and a troubling dip in its performance.
The price action of PEPE early this month followed a bearish pennant pattern, marked by two converging trendlines. This pattern typically signals indecision in the market, as buyers and sellers wrestle for control. However, the situation took a turn for the worse as the coin broke below its support trendline, increasing the pressure on the supply side.
As of the latest data from CoinGecko, the coin is trading at $0.00000067, showing a 3.9% loss in the past 24 hours and a substantial 14.4% decline over the past week. Most notably, PEPE has tumbled out of the coveted crypto top 100 list on CoinGecko.
PEPE Selling Pressure Intensifies
On September 10, PEPE suffered a bearish breakdown as it breached the support trendline. This development, coupled with a rising supply pressure across the altcoin landscape, resulted in a sharp decline in the value of PEPE. Investors and enthusiasts began to question the coin's future as it struggled to maintain its position.
Adding to the concerns surrounding PEPE, a tweet from Lookonchain on September 11 drew attention to a peculiar event. Several investors opted to sell their PEPE holdings, swapping them for PNDC (Pandacoin). Three wallets collectively sold a staggering 1.38 trillion PEPE tokens for 600 ETH, equivalent to approximately $965,000. In a surprising twist, they reinvested 600 ETH t...
|ETH Price Depressing But is a Bounce to $1.8K in Play? (Ethereum Price A...
Ethereum's price has not yet shown any willingness to recover following the recent drop from the critical $2,000 resistance area. However, while the cryptocurrency is consolidating in a tight range, there are some signs indicating the probable price action in the short term.
Technical AnalysisBy Edris
The Daily Chart
On the daily timeframe, the price has been holding around the $1,650 support level over the last few days after a decisive rejection from $1,750 earlier.
Given the current price behavior and the overall market structure, it seems more likely that the price will experience a deeper drop toward the $1,400 level than a rebound and rally toward the $2,000 zone. The 50-day and 200-day moving averages have also printed a bearish crossover, which is a negative trend signal that could result in another crash in the coming days.
The 4-Hour Chart
Looking at the 4-hour timeframe, things look even worse as the momentum is clearly in favor of the sellers. The price has been struggling with the $1,650 support level for quite some time, and a breakdown seems more likely.
The RSI indicator is also showing values below 50%, indicating bearish momentum in this timeframe and increasing the chances of a further decline. This scenario will fail if the $1,650 level holds and pushes the price back above the $1,750 resistance zone.
On-Chain AnalysisBy: Edris
Ethereum Funding Rates
Although Ethereum has been mostly bearish over the past few weeks, ...
|Bitcoin, Ethereum Show More Potential For Downside Despite Recent Bounce...
A prominent cryptocurrency analyst, Bluntz, has expressed skepticism about the recent uptrend that increased Bitcoin and Ethereum prices by more than 5%. The pseudonymous analyst told his over 224,000 Twitter followers that the flagship crypto assets may face more downturns.
Applying the Elliott Wave theory in his analysis, Bluntz predicted that Ethereum is about to complete a five-wave pattern. According to him, Ethereum will decline to $1,450 on completing the wave pattern marked 1, 2, 3, 4, and 5.
Bitcoin And Ether Could Face More Downturn Before A Bounce
In Bluntz’s technical analysis, the five-wave chart pattern exists within a larger three-wave pattern marked A, B, and C. And this three-wave pattern is also on a downtrend. He noted that ETH and BTC must complete this wave pattern before a bullish upturn.
However, while this analysis projects a bearish trend for ETH and BTC, Bluntz believes there is potential for a bullish breakout. He said the theory becomes invalid if ETH breaks above $1,804 or Bitcoin surpasses the $28,770 price level.
Invalidation of this thesis is if we break $1,804 for ETH or $28,770 for BTC as wave-4 can’t go within wave-1 territory,
Bears Intent On More Downturns For ETH And BTC; Any Hope For A Rebound? Meanwhile, Bitcoin and Ethereum are exhibiting a slightly bearish outlook at press time. Bitcoin trades at $27,211, with a nearly 1% decline, while Ethereum price is down by 0.89%, at $1,704. Bitcoin ha...
|Bitcoin Breaks Above $26,000, A Stronger Bounce Is Imminent Says This Me...
The Bitcoin price trades close to the $26,000 level during today’s trading session, as it has since last week. However, new data points to a potential breakout out of the current range and into previously unexplored territory in 2023.
As of this writing, Bitcoin trades at $25,950 with sideways movement across the board. Other cryptocurrencies in the top 10 by market capitalization display similar price action as the sector enters another period of low volatility.
Bitcoin On The Verge Of Making A Decision? The co-founder of crypto analytics firm Glassnode, Yann Allemann, recently shared data that could hint at a potential rebound. Via social media X, Allemann pointed at Bitcoin’s Relative Index Strength (RSI), a metric used to measure when an asset has entered overbought or oversold territory.
BTC’s recent downside price action pushed the RSI to a historical oversold level, 28. The chart below shows that almost every August with a negative RSI and a BTC monthly return north of 10% leads to a sideways September but to a green October.
If the price of Bitcoin moves in tandem with its history, this decline in performance and RSI could hint at massive gains for the cryptocurrency in the coming two months. The Glassnode co-founder stated the following:
Past trends suggest that such movements often indicate the potential for upward price shifts. This implies that as sellers grapple with further drops, the stage might be set for a reversal in the near future.
|Big Bounce to $0.9 Possible for XRP if This Critical Level Holds (Ripple...
Ripple's price is yet to show any sign of bullishness after a decisive rejection from a significant resistance level. However, the market has currently reached a point where a rebound is probable.
The Daily Chart
Against USDT, the cryptocurrency has been correcting since failing to break above the $0.9 level earlier in July. The 50-day moving average is broken to the downside, and the market is currently testing the significant $0.6 support level.
If this area holds, the investors may be optimistic about the price rallying towards the $0.9 resistance zone in the coming weeks. On the other hand, a breakdown of the mentioned support level would lead to a deeper drop toward the 200-day moving average, located around the $0.5 mark.
Looking at the chart against Bitcoin, things look worse. The price has broken below the 2200 SAT level, and the 50-day moving average located around the 2100 SAT mark.
Things seem worse, as the price is seemingly targeting the 200-day moving average and the nearby static support level at the 1800 SAT mark. Yet, this scenario could be invalidated in case the market climbs back above the broken 50-day MA.
The post Big Bounce to $0.9 Possible for XRP if This Critical Level Holds (Ripple Price Analysis) appeared first on CryptoPotato.
|PEPE Crashes 10% Daily: Time for a Bounce or More Pain Ahead? (PEPE Pric...
PEPE finally found its resistance and the price crashed by 10% in a day.
Key Support levels: $0.00000123Key Resistance levels: $0.000001361. Price at Critical Support
With the rally over, PEPE has found good support at $0.00000123. However, sellers have control of the price action right now and may not be satisfied yet. Further volatility seems likely as pressure builds at this key level.
Chart by TradingView
2. Sellers Return in Force
Over the past two days, the selling pressure intensified and changed the dynamics in the market, which could turn the price action bearish if sellers break below the current support.
Chart by TradingView
3. Bearish Momentum
PEPE's momentum shifted gears in one day. This shows that memecoins are a high-risk bet as their volatility and direction can change suddenly based on market sentiment. If bulls can't defend the current support, the bearish momentum will be more likely to intensify.
Chart by TradingView
The bias for PEPE is bearish.
Short-Term Prediction for PEPE Price
As long as the key support at $0.00000123 holds, buyers still have a chance to stop sellers and take over. If they fail, then look for levels around $0.00000116 might come in play before PEPE can find its footing again.
The post PEPE Crashes 10% Daily: Time for a Bounce or More Pain Ahead? (PEPE Price Analysis) appeared first on CryptoPotato.
|XRP Approaches Critical Support, Can it Bounce Back Toward $0.8? (Ripple...
Ripple is currently experiencing a prolonged correction phase in its price action due to encountering significant resistance at the $0.85 level.
However, there is a potential for a short-term interruption in the downtrend as the price approaches a robust support region.
Technical AnalysisBy Shayan
The Daily Chart
A careful examination of the daily chart reveals the presence of selling pressure and notable supply in the vicinity of the $0.8 price range.
This has effectively halted the earlier bullish upswing and resulted in an extended rejection. The outcome of this rejection could take one of two paths: it may either evolve into a bearish trend with further price plunges or serve as a corrective phase, leading to a retracement towards the previously breached $0.55 price zone.
Yet, XRP is presently edging closer to a significant support zone encompassing the pivotal $0.55 support level and the substantial 100-day moving average. This zone holds the potential to stop further downward movement and possibly initiate an upward rally toward the crucial $0.8 threshold.
The 4-Hour Chart
In the 4-hour chart, it can be observed that the price has been in the midst of a corrective phase, manifesting as consolidation within a descending wedge pattern. This specific pattern is recognized as a bullish continuation pattern, and its confirmation hinges on the price breaching the upper trendline and subsequently retesting it as a pullback.
However, there exists a critical ...
|XRP on Crossroads: Big Bounce or a Massive Crash Ahead? (Ripple Price An...
Ripple is currently undergoing a significant correction phase after encountering resistance at the $0.8 mark, resulting in a substantial rejection. However, there is hope for a potential halt in the downtrend in the short term as the price approaches a strong support region.
Technical AnalysisBy Shayan
The Daily Chart
Analyzing the daily chart, we observe that the prevailing selling pressure and considerable supply around the $0.8 price range have halted the previous bullish surge, resulting in a massive rejection.
This rejection could either evolve into a bearish trend with further price declines or act as a correction phase, leading to a pullback to the broken $0.55 price region.
Despite the challenges, Ripple is currently consolidating near a significant support area, which includes the $0.55 crucial level and the 100-day substantial moving average. This support region can potentially prevent further downtrends and might initiate an upward rally toward the $0.8 price range.
The 4-Hour Chart
Moving to the 4-hour chart, we see that the price was unable to surpass the critical $0.8 resistance level, leading to a decline after an impulsive breakout from the upper trendline of the channel and surging toward this level. Although the price retraced back to the upper trendline, it failed to complete a pullback and instead fell below this crucial level.
This situation indicates the prevalence of bearish sentiment in the market, putting downward pressure on the p...
|No Panic: XRP Can Rely on These Support Levels to Bounce (Ripple Price A...
Ripple's price is currently correcting after a significant surge following the win against SEC. However, there is little reason for concern as there are multiple support levels nearby.
Technical AnalysisBy: EdrisXRP/USDT Daily Chart:
Against USDT, the price has been constantly declining after being rejected from the $0.9 resistance level. The market is likely targeting the 50-day moving average around the $0.6 support level.
The 200-day moving average trending near the $0.5 mark is also another key support that the price would test in case of a breakdown of the 50-day MA. In any case, the market seems more likely to rebound from these levels and start a new bullish phase.
XRP/BTC Daily Chart
Against BTC, XRP's price has been decisively rejected to the downside by the 2,800 SAT resistance level. The cryptocurrency is currently on a steep downtrend towards the 2,200 SAT area.
In case the level holds, XRP is likely to attempt the 2,800 SAT area again in the next few weeks. Conversely, a breakout below the mentioned level would result in a deeper pullback, with the 50-day moving average being the probable short-term target.
The post No Panic: XRP Can Rely on These Support Levels to Bounce (Ripple Price Analysis) appeared first on CryptoPotato.
|Celsius Bankruptcy Struggles Coming to an End as Fahrenheit Clinches Win...
Fahrenheit LLC - a consortium of investors that includes the largest crypto exchange in the United States - has emerged as the winner in the court-approved auction process to acquire insolvent lender Celsius Network.
Fahrenheit will provide the capital, management team, and technology required to successfully set up and operate the new company. It is also required to pay a cash deposit of $10 million within three days to seal the deal.
Fahrenheit to Acquire Celsius Assets
Fahrenheit's consortium consists of US Bitcoin Corp, Proof Group Capital Management LLC, Ravi Kaza, former Algorand CEO Steven Kokinos, and Coinbase.
According to the court filing, the group will acquire Celsius' institutional loan portfolio, mining business, and alternative investments for the benefit of account holders. The new company will be spearheaded by a Board of Directors, a majority of which will be appointed by creditors.
The distribution of Celsius's liquid crypto to account holders, settlements with the Custody and Withhold groups, as well as managing Celsius' illiquid assets by the new company have been outlined as the crux of the agreement.
The deal also requires the new company to receive $500 million in liquid cryptocurrency, which may be reduced to $450 million in the event of secondary market purchases. Fahrenheit group's US Bitcoin Corp will be in charge of building a range of crypto mining facilities, including a new 100-megawatt plant.
Speaking about the lengthy auction process, David B...
|Luxury Auction House Sotheby's Sells Portion of 3AC's NFT Collection for...
Sotheby's, the luxury auction house, successfully generated $2.5 million through the sale of non-fungible tokens (NFTs) from the now-defunct crypto hedge fund Three Arrows Capital (3AC). Among the sold pieces was Fidenza #725, a digital collectible crafted by the artist Tyler Hobbs. This Fidenza #725 NFT commanded an auction price of over $1 million during Sotheby's Contemporary Day Sale.Sotheby's Brings in $2.5 Million From 3AC's NFT Collection
On May 19, 2023, Sotheby's auction unveiled the sales figures for the NFT collection of Three Arrows Capital (3AC), a now-bankrupt Singaporean crypto hedge fund, with a total of $2.5 million. Sotheby's took to Twitter on Friday afternoon to announce that Tyler Hobbs' Fidenza #725 NFT fetched $1,016,000, nearly five times the high estimate. The 3AC NFT auction, known as the 'Grails' NFT collection, was first revealed by Sotheby's in April.
During the auction, Larva Labs' NFT Autoglyph #187 secured the second-highest bid, amassing $571,500. Additionally, Larva Labs' Crypto Punk #1326 found a buyer at $165,000, while Ringers #194 fetched $152,400. Dmitri Cherniak's Ringer #879, affectionately known as the 'Golden Goose' or simply the 'Goose,' is scheduled for a live auction on June 15 in New York. Sotheby's, on Friday, also revealed that the onchain artwork crafted by @0xdeafbeef achieved a price of '$241,300 in the Contemporary Day Sale.'
Kyle Davies, the co-founder of 3AC, took to Twitter to exclaim, 'NFT grails mooning on Sothebys.' ...
|Sotheby's Auction House Launches Marketplace for Secondary NFT Sales
On May 1, the company announced an addition to Sotheby’s Metaverse in the form of a “dynamic destination to collect, buy, and sell remarkable digital works.”
The blockchain-based NFT marketplace will be primarily for secondary sales of digital art. According to the announcement, the marketplace will feature a rotating, curated selection of leading artists hand-picked by Sotheby’s specialists.
They will provide “expert guidance and context for each work, from thematic presentations to artist spotlights, for an easy-to-navigate experience designed for discovery.”
The next evolution of #SothebysMetaverse is here! The most trusted and dynamic destination to collect, buy and sell remarkable digital works.
Explore: https://t.co/hZvYIkO3xx pic.twitter.com/dCkaCKlXVm
— Sotheby's Metaverse (@Sothebysverse) May 1, 2023
Sotheby’s Secondary Market
Sotheby’s launched the Metaverse platform in 2021 for its art auctions but has now expanded it to handle resales. It supports NFTs minted on Ethereum and layer-2 scaling network Polygon.
Automated smart contracts will govern the secondary sales process allowing buyers and sellers to send and receive payments in ETH or MATIC, the Polygon native token. It stated that there is a 2.5% fee for sellers.
The Sotheby’s marketplace will be a little more exclusive than industry leader OpenSea as only its experts will select the artwork. The featured artists will be changed every few months, it...
|ReserveBlock Releases P2P Auction and Collection Features within the RBX...
[PRESS RELEASE - Miami, FL, April 20th, 2023]
ReserveBlock Releases Peer-to-Peer Auction and Collection Features within the RBX Native Core-Wallet Enabling True On-Chain Marketplaces and Empowering Self-Custody.
ReserveBlock RBX (ReserveBlock.io), an open-source and decentralized native layer 1 protocol that democratizes both validating and on-chain tokenization of assets for everyone has released its long-awaited p2p auction and collection features in the RBX core-wallet enabling any creator, owner, or issuer, to initiate self-custody marketplaces without a third-party. The first of its kind for any layer 1 protocol, RBX users may now publish auctions of a minted asset from the non-custodial wallet using features and tools for bidding and ‘buy now’ options all natively and trade directly with peers.
RBX users can now publish auctions or self-hosted stores, both on-chain and to social media platforms, with asset collections broadcasted over the RBX network, by simply remitting 10 RBX on publishing, which is burned at the time of the transaction. All auction and store originators may also utilize a real-time chat feature directly with traders natively through the wallet, providing an elevated p2p commerce experience and a valuable tool when arranging for the transfer of tokenized physical or real-world assets between peers and/or the ability to seek additional information directly from issuers themselves.
While the network activates true on-chain royalty enforcemen...
|Sotheby's to Auction 3AC's NFT Collection, Including Larva Labs' Zombie ...
On Wednesday, Sotheby's, one of the world's largest brokers of fine and decorative art, announced its plans to auction a number of non-fungible token (NFT) assets that were previously owned by the now-defunct crypto hedge fund Three Arrows Capital (3AC). The auction, called the 'Grails' NFT collection, will take place during Marquee Sale Week at the firm's New York location.
Sotheby's Introduces the ‘Grails’ NFT Collection
In July of last year, the crypto hedge fund Three Arrows Capital (3AC) filed for bankruptcy protection, and Teneo took over as the liquidator for the firm. In February, Teneo announced its intentions to sell a significant non-fungible token (NFT) collection that the now-insolvent company had amassed. Sotheby's, the luxury auction house founded in 1744, will auction several of 3AC's blue-chip NFTs under the name 'Grails Collection.'
On Wednesday, Sotheby's tweeted about the upcoming auction, which will begin on May 19, 2023. The auction house's metaverse division Twitter account noted that the collection was primarily curated by 3AC in 2021. One of the NFTs up for auction will be Dmitri Cherniak's 'Ringers #879,' also known as the 'Golden Goose.' The collection will include Autoglyphs, Cryptopunk #6,649, Tyler Hobbs' small-scale Fidenza #725, and Snowfro's full-spectrum Chromie Squiggle #1,780.
??Sotheby's stated that the collection will be sold in various live and online auctions, as well as private sales, throughout the year. The company said ...
|Report: Silicon Valley Bank Under FDIC Auction as Calls for Bailout Grow
The U.S. Federal Deposit Insurance Corporation (FDIC) began an auction process for Silicon Valley Bank (SVB) late Saturday night, according to reports. Final bids are due by Sunday afternoon. Unnamed sources indicate that the FDIC is seeking to close the deal promptly after California regulators closed the bank and placed it into FDIC receivership on Friday.Sources Say FDIC Is Working Swiftly to Sell Off SVB Assets as Final Bids Due by Sunday Afternoon
The collapse of Silicon Valley Bank (SVB) has caused a significant stir in the United States, as many believe it has revealed a weakness in the U.S. banking system. However, U.S. Treasury secretary Janet Yellen has maintained that the system is 'resilient' and 'safe and well-capitalized.' According to a recent Bloomberg report, an auction for SVB began on Saturday evening, and final bids will be selected on Sunday.
Anonymous sources cited by Bloomberg say the FDIC is working swiftly to sell off SVB assets before branches open on Monday. The report states that final bids are due by Sunday afternoon, with a final decision potentially not being announced until Sunday evening. Bloomberg contributor Matthew Monks attempted to contact the FDIC for comment but was unable to reach anyone outside of their normal business hours.
The failure of SVB has sparked a significant debate over whether the bank will receive a bailout. However, based on Yellen's statements, it appears that a bailout is not being considered. Many tech founders and ...
|Is Bitcoin Headed to $21K or Will the Bulls Bounce Back? (BTC Price Anal...
After forming a bearish three-drives reversal pattern, the price has recently dropped below the neckline, delivering a significantly bearish signal for the short-term outlook. As of now, BTC faces an important support region at $21K.
The Daily Chart
As expected, the three-drives pattern resulted in a trend reversal and a decline in the price. Bitcoin was recently rejected below the neckline and is consolidating with very little momentum.
However, a pullback to this broken neckline is necessary to confirm the change in Bitcoin’s recent bullish trend. If a pullback occurs, the price will potentially enter a mid-term downward stage, returning the fear to the market.
BTC's following support levels are $21K and the 200-day moving average, standing at $19.7K.
The 4-Hour Chart
After forming a major swing at $25K, Bitcoin’s price initiated a downtrend, forming an ascending wedge pattern. Following an impulsive bearish move, the price reached the wedge’s lower boundary at $22K and began consolidating.
Bitcoin currently faces a significant support area consisting of the wedge’s lower boundary and the $21K major support level. Presently, the bearish momentum has decreased.
As a result, the price will possibly enter a short-term range stage, demonstrating the battle between buyers and sellers at this vital price area.
To conclude, a breakout from the wedge in either direction will determine the mid-term direction of...
|Over 2 BTC For an NFT? Yuga Labs Concludes TwelveFold Auction
There's been a lot of excitement in the space of Bitcoin ordinals lately, which saw multiple collections auction their NFTs for a lot of money.
However, one team that's well-known in the field of non-fungible tokens managed to once again make the headlines. Yuga Labs concluded the auction of its first ordinal collection called TwelveFold, and the lowest accepted bids were quite impressive.
Yuga Labs Does it Again
Yuga Labs is the company behind the popular Bored Ape Yacht Club NFT collection and everything associated with it. It has quickly become a household name, and whatever project the team announces, the community jumps at the opportunity to get involved... regardless of the price.
That said, Yuga Labs recently announced that they will get involved with Bitcoin ordinals through a limited collection of 300 items called TwelveFold.
The auction for it was held yesterday, and the system was pretty simple - people had to bid on a single item out of 288 in total, and the highest bids would win an ordinal.
Successful buyers had to supply a self-custody wallet that contained some BTC, as well as an empty BTC address capable of receiving the art itself. The auction concluded recently, and the results didn't disappoint.
The lowest bids, according to some reports, were 2.2501 BTC. That's around $50K at current prices. The highest bids were for around 7.1559 BTC. According to the team, there were a total of 3,246 bidders, and the auction itself managed to generate about $16.5 millio...
|Ordinals Creator Slams Yuga Labs for 'Degenerate' Bitcoin NFT Auction
While many were excited when Yuga Labs announced its first ordinals NFT collection last month, the exact nature of its auction process is proving highly controversial.
Casey Rodarmor – the inventor of Ordinals – called the NFT giant’s sale “degenerate” due to putting its participants’ Bitcoin holdings at risk.
The Problem With Bitcoin Auctions
In a Twitter thread on Sunday, Yuga Labs published details surrounding how its upcoming “Twelvefold” auction would work. Twelvefold includes 300 NFTs – 288 of which were listed for auction, with the remaining 12 going to “contributors, donations, and philanthropic efforts.”
The firm instructed followers to visit the Twelvefold website to enter the auction and place their bid – which involved sending Bitcoin to a unique Bitcoin address owned by Yuga.
The top 288 bids will win an inscription. There will be a leaderboard throughout the auction that will display current bid placings. Winning bidders will receive their TwelveFold ordinal inscriptions within one week of the end of the auction.
— Yuga Labs (@yugalabs) March 5, 2023
The auction began at 3pm PT on March 5, and is set to last for a full 24 hours. Yet only hours after it kicked off, the bidding process drew scrutiny from certain community members worried that the auction involved too much trust in Yuga.
Twitter user @veryordinally, for example, said Yuga was establishing a &ldqu...
|Dogecoin Gearing To Bounce Back Against Bitcoin – Does Doge Have T...
A popular crypto trader, Bluntz, forecasted a significant price rally for Dogecoin against Bitcoin today. Bluntz tweeted to his followers that the DOGE/BTC trading pair is “gearing for a revenge pump for probably 100% or more.”
Based on his chart analysis, Bluntz identified that Doge had formed a bullish pattern that may surprise the crypto community. Bluntz seems convinced that Doge will continue to surge its price, thus cautioning that investors would be careless for missing out on this potential opportunity.
Bluntz’s sentiment appears to be backed by other crypto market analysts who are also confident that Doge is destined for massive growth.
Bluntz also disclosed that the Dogecoin/USD trading pair has finally broken out of a consolidation channel, indicating that Doge is 'loading and set to lead the altcoin season.' He said it is just a matter before the meme crypto witnesses a huge price uptick.
Does Dogecoin Have More Potential Than Bitcoin? For investors seeking to invest in cryptocurrencies, Dogecoin is one of the major altcoins that can prove to be a better investment choice.
Dogecoin is currently the ninth-largest cryptocurrency. However, Dogecoin seems a good option for investors willing to take on a little risk.
Doge’s price appears relatively much less volatile than BTC’s price. As a result, its price’s relative stability makes many investors consider it a more suitable currency for daily transactions than B...