Bitcoin witnessed 10 straight days of gains between July 21-30, across several crypto exchanges, the first such occasion since 2012. According to Santiment, Bitcoin held on addresses storing 100-to-10,000 Bitcoin, has surged to a new all-time high of 9.23 million Bitcoin. This group of investors has added 170,000 Bitcoin to their holdings in the past four weeks.
Financial news outlet The Street reported on July 30 that asset management firm GoldenTree, which has about $45 billion in assets under management, has bought an undisclosed amount of Bitcoin.
OUR BLOG ARTICLES FOR THIS SPECIAL ISSUE ARE
COOP NETWORK – BRINGING BLOCKCHAIN TO THE CBD INDUSTRY!
WORLD MOBILE TOKEN: REBOOTING TELECOMS THROUGH BLOCKCHAIN AND
THE SHARING ECONOMY
We had said in our previous analysis that bears will continue to defend the £31,005 levels aggressively and that is what happened. The failure of the bulls to push the price above £31,005 between July 30 and August 1 attracted profit-booking from short-term traders.
The moving averages have completed a bullish crossover and the RSI is in the positive territory, suggesting that bulls have the upper hand.
If the BTC/GBP pair rebounds off the 20-day exponential moving average (EMA), the bulls will make one more attempt to clear the overhead hurdle at £31,005. If they succeed, it will suggest the start of a new uptrend.
This bullish view will invalidate if the price breaks below the 20-day EMA. Such a move will increase the possibility of a range-bound action for the next few days.
A short-term trading opportunity may arise if the price rebounds off the 20-day EMA but traders could remain on the sidelines if the support cracks.
Lastly please check out the advancements happening in the cryptocurrency world.
Enjoy the issue!
FEATURING IN THIS WEEKS EDITION
– Apollo Fintech
– Gain Protocol
– The Coop Network
– Ferrum Network
– World Mobile Token
CRYPTO TRADE OPPORTUNITIES
BITCOIN – BTC/GBP
We had said in our previous analysis that bears will continue to defend the £31,005 levels aggressively and that is what happened. The failure of the bulls to push the price above £31,005 between July 30 and August 1 attracted profit-booking from short-term traders. Read more
ETHEREUM – ETH/GBP
We had mentioned in our previous analysis that Ether may rise to the psychological level at £2,000 and that is what happened. The biggest altcoin rose to £1,938 on August 1. The ETH/GBP pair formed an inside-day candlestick pattern on August 2, indicating indecision among the bulls and the bears. If bears sink the price below £1,800, the pair could drop to the 20-day EMA. Read more
RIPPLE – XRP/GBP
The bulls pushed XRP above the 50-day SMA on July 28 but they could not clear the hurdle at £0.53566. This suggests that the bears have not yet given up and are defending the overhead resistance aggressively. The moving averages have completed a bullish crossover and the RSI is in the positive territory, indicating that buyers are in command. If the price rebounds off the 20-day EMA, the bulls will again try to push the pair above £0.53566. Read more
CARDANO – ADA/GBP
Cardano has been trading between the moving averages for the past few days. Though the bulls pushed the price above the 50-day SMA on August 1, they could not sustain the higher levels as seen from the long wick on the day’s candlestick. Read more
BINANCE – BNB/GBP
Binance Coin has been trading close to the overhead resistance of £236 for the past few days. This suggests that bears are defending this level but the bulls are not giving up. Read more
Subscribe to the latest crypto news digital magazine for the latest updates about profit and loss in cryptocurrency.
REVOLUTIONIZING GLOBAL HEALTHCARE: BLOCKCHAIN-BASED HEALTH ECOSYSTEM & NETWORK, R-DEE
Radiologex Technologies and Cryptonaire Weekly are proud to present R-DEE®, the only enterprise-focused medical blockchain project with a fully built, ready to deploy product and network. With always-active proprietary security features, this project’s ecosystem provides Health IT for healthcare providers and practitioners the world over, from any device. Radiologex’s high-speed interoperability network answers the call of the global pandemic that has driven the increased digitalization of healthcare, and revealed widespread system breakdowns and inefficiencies. Read more
INTRODUCING THE WORLD’S FIRST GROWTH COIN – GET TO KNOW MORE ABOUT GSX
Gold Secured Currency (GSX) is a token on the Apollo blockchain that is backed by an asset trust, which is currently composed of mining alluvial gold. GSX is a combination of stable coin and traditional cryptocurrency. GSX utilises both aspects to have a value that is backed by physical assets in its asset trust and that can grow in the same way as other cryptocurrencies. GSX have rights to minerals and land that is in Southern Africa. Other products will be included to generate income that will support the GSX token and continue its maintenance. Read more
MELD JOINS FORCES WITH PLATINUM CRYPTO ACADEMY!
We are excited to share our vision of merging the fiat world with the crypto world to Platinum Crypto Academy investors! The years of experience in Crypto education and extensive market analysis that Platinum Crypto Academy has undergone made this decision an easy one. We can’t wait to share our protocol, mission, and perspectives with this seasoned community. Thanks, Platinum Crypto Academy! Read more
COOP NETWORK – BRINGING BLOCKCHAIN TO THE CBD INDUSTRY!
The Coop Network has adopted the GEOMA DAO COOP model, which is essentially a hybrid and unique economic model that uses the cooperative system in combination with the DAO (Decentralised Autonomous Organisation) model offered by the blockchain technology. Read more
WORLD MOBILE TOKEN: REBOOTING TELECOMS THROUGH BLOCKCHAIN AND THE SHARING ECONOMY
The top holder of ETH is now Ethereum 2.0. Staking means pledging crypto to the blockchain to help secure the network and earn newly-minted coins. Ethereum stakers lock up funds until Ethereum 2.0 is farther along. Ethereum staking now represents the largest allocation of any Ethereum holding. Ethereum 2.0 staking has now reached 6.73 million ETH (worth about $21.2 billion), surpassing the total amount of “wrapped Ethereum” on the network, according to data from blockchain analytics firm Nansen. Read more
MASTERCARD OUTLINES PLANS FOR CRYPTOCURRENCIES, STABLECOINS, CENTRAL BANK DIGITAL CURRENCIES
Mastercard’s CEO has outlined the company’s plans to develop products and services around cryptocurrencies, stablecoins, and central bank digital currencies (CBDCs). “We want to be playing a role across all of them … It’s obviously a vibrant space around digital currencies,” said the CEO. Read more
MIAMI SET TO LAUNCH ITS OWN CRYPTOCURRENCY, REWARD USERS IN BITCOIN
The coin will allow investors to earn rewards while supporting the city, according to the team behind the project. Miami’s own cryptocurrency, MiamiCoin, will launch tomorrow. The cryptocurrency will essentially allow people to invest in Miami by buying the coin.
Money raised will be used to fund projects and events in the city. Read more
PAYPAL SET TO LAUNCH CRYPTO TRADING IN THE UK AND MAY EMBRACE DEFI
The global payments platform wants to let British customers trade crypto on its new “super app.” Global payments platform PayPal is looking toward the United Kingdom as the next market in which to expand its crypto trading services. According to the company’s second-quarter earnings call on Wednesday, PayPal has done very well out of crypto trading for the period. CEO Dan Schulman stated that the U.K. is likely to be the next country where crypto trading is offered. Read more
EL SALVADOR’S BITCOIN BILL HAS 5 KEY BENEFITS, SAYS BANK OF AMERICA
The Central American country became the only nation in the world to accept Bitcoin as legal tender earlier this year. Its since gotten both bouquets and brickbats. US financial services player Bank of America, one of the world’s largest banks, has come out in support of El Salvador’s Bitcoin bill in a note to clients last week. It comes even as the country faces opposition from several global bodies for its decision to allow citizens to officially accept Bitcoin as payments for goods and services, and as outbound remittances. Read more
BINANCE BANNED IN MALAYSIA, GIVEN 14 DAYS NOTICE TO SHUT DOWN OPERATIONS
The crypto exchange has been served with a notice to stop offering its services in the country. Malaysia is the latest regulatory theater to come after Binance as authorities in the country have accused the exchange giant of continuing to operate in the country illegally. According to an announcement released on Friday, the Securities Commission (SC) Malaysia has served a public reprimand against Binance, calling for the exchange and all of its entities to cease operations in the country. read more
BITCOIN OUTFLOWS FROM CENTRALIZED EXCHANGES SURGE TO 100K BTC MONTHLY
Centralized exchanges have experienced their heaviest week of Bitcoin withdrawals since November 2020. Bitcoin outflows from centralized exchanges have surged to their highest level year-to-date, with roughly 40,000 BTC being withdrawn over the past seven days. According to the Glassnode’s August 2 The Week On-Chain report, Bitcoin outflows have accelerated to a rate exceeding 100,000 BTC per month for just the third time since September 2019. The on-chain analytics provider estimates that just 13.2% of circulating BTC are currently held on exchanges — a new low for 2021. read more
ETHER PRINTS RECORD WINNING STREAK AS LONDON HARD FORK LOOMS
Ether has notched a 12-day winning streak, the longest ever. Ether (ETH, -3.95%) looks to extend its record daily winning streak in the runup to a planned upgrade on Ethereum’s blockchain that could significantly reduce the cryptocurrency’s supply growth. The second-largest cryptocurrency was trading 1.6% higher on the day near $2,600 at press time, having rallied 43% over an unbroken string of 12 straight daily price gains, according to Coinbase data. Read more