24th August Latest Crypto News Digital Magazine
The total crypto market capitalisation topped $2 trillion on August 14, the first time since mid-May, according to data from coinmarketcap. That was followed by Bitcoin rising above the psychological barrier at $50,000 on August 23. Both these events have improved sentiment and analysts are predicting a Bitcoin rally above $100,000.
PayPal announced on Monday that it will offer crypto services to residents in the UK starting this week. Users will be able to buy, sell, and hold Bitcoin, Ethereum, Litecoin, and Bitcoin Cash through a new crypto tab on their PayPal account, both via the app and the website. This move by PayPal will further improve the penetration of cryptocurrencies.
OUR BLOG ARTICLES FOR THIS SPECIAL ISSUE ARE
GSX-GOLD-BACKED TOKENS FOR SECURITY AND PROFITS,
GET LOANS IN FIAT WITH YOUR CRYPTO, HERE’S HOW MELD IS ADDING A NEW DIMENSION TO DEFI,
DIRTY FINANCE: A PASSIVE INCOME WITH HENTAI NFTS ON TOP OF REDISTRIBUTION!,
CONNECTING MUSICIANS, ORGANIZERS AND FANS, BEATBIND IS SCRIPTING THE FUTURE OF MUSICAL
WHAT’S MAKING INVESTORS EXCITED ABOUT GAIN PROTOCOL’S STATIC REWARD TOKENS?
We had mentioned in our earlier analysis that Bitcoin may rise to £36,000 and then to £38,000 if it sustains above £31,005 and that is what happened.
The BTC/GBP pair rallied to £36,999 on August 23. Traders who had purchased on our earlier recommendation may book profits on 75% of the open positions and trail the rest with a stop-loss below the 20-day exponential moving average (EMA).
The pair is likely to face stiff resistance at the 61.8% Fibonacci retracement level at £36,834.35 and then again at £38,000. If the price turns down and breaks below £35,280, the pair could decline to the 20-day EMA. A strong rebound off this support will suggest that the trend remains positive and the bulls will then again try to resume the uptrend. A breakout of £38,000 could open the doors for a rally to £42,500.
The first sign of weakness will be a break and close below the 20-day EMA. Such a move will suggest that traders are closing their positions and supply exceeds demand. The pair may then decline to the 50-day simple moving average (SMA).
Lastly please check out the advancement’s happening in the cryptocurrency world.
Enjoy the issue!
Featuring in this weeks Edition
– COLCIAR AND BUDA HOLDINGS
– Mining Tech
– Gain Protocol
– Dirty Finance
CRYPTO TRADE OPPORTUNITIES
BITCOIN – BTC/GBP
Bitcoin price GBP, we had mentioned in our earlier analysis that Bitcoin may rise to £36,000 and then to £38,000 if it sustains above £31,005 and that is what happened.
The btc to gbp pair rallied to £36,999 on August 23. Traders who had purchased on our earlier recommendation may book profits on 75% of the open positions and trail the rest with a stop-loss below the 20-day exponential moving average (EMA). Read more
ETHEREUM – ETH/GBP
Etherum price GBP, we had mentioned in our earlier analysis that £2,400 may act as a resistance and that is what happened. Ether GBP has been struggling to break out and sustain above this resistance for the past few days.
But a positive sign is that the eth to gbp bulls have not allowed the price to break below the breakout level at £2,160. With both moving averages sloping up and the relative strength index (RSI) in the positive territory, the advantage is with the buyers. Read more
RIPPLE – XRP/GBP
Traders who had bought on our earlier recommendation are sitting on huge profits within a short time. XRP picked up momentum after it broke above the resistance line of the descending channel on August 11. Read more
CARDANO – ADA/GBP
In our previous analysis, we had said that Cardano may start a new uptrend if bulls push and sustain the price above £1.33 and that is what happened. The buyers thrust the price above £1.33 on August 13 and the ADA/GBP pair completed a successful retest of the breakout level on August 18. This attracted further buying, which propelled the pair to a new all-time high on August 19. Read more
BINANCE – BNB/GBP
BNB price GBP has risen sharply in the past few days, netting a handsome profit to traders who had bought on our earlier recommendation. The bears tried to stall the up-move at the overhead resistance at £305.44 on August 17 but the bulls did not allow the price to dip below the 20-day EMA.
The buyers pushed the price above the overhead resistance on August 20, indicating the start of a new uptrend. Read more
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REAL ESTATE IS BEING DEMOCRATIZED AND GENIUX IS LEADING THE WAY
What often springs to mind when we think of investing in real estate? Oftentimes, we think of it as large development firms buying up acres of properties and several high-rises or we think of people owning multiple investment properties and condos. Simply put, we often envision a large capital-intensive affair that is not accessible to the everyday person. Read more
MININGWATCHDOG SMARTCHAIN MSC ERC20 TOKEN ANNOUNCES IMPENDING PRE-SALE LAUNCH
The Primary Currency for Buying All-Crypto Related Products and Services under one Roof!
Miningwatchdog Smartchain MSC ERC20 Token is the first of its kind Smart Token in the Ethereum Blockchain used as the primary currency on the Miningwatchdog marketplace. A Marketplace that Crypto enthusiasts can buy and sell new and fairly used miners 24/7. Other Crypto services you can engage in include Exchanging Altcoins for major Cryptos! Read more
PayPal Rolling Out Crypto Trading in the UK This Week for BTC, ETH, LTC, and BCH
PayPal “definitely” has “ambitions to continue to expand” its crypto services range in the other markets and beyond the US and the UK, where it expects the new rollout to do well. After the US, PayPal is now allowing its users in the UK to buy, hold, and sell cryptocurrency through its platform for as little as £1. To begin with, only four cryptocurrencies will be offered viz. Bitcoin (BTC), Ethereum (ETH), Litecoin (LTC), and Bitcoin Cash (BCH). Read more
Institutional investors bet big on Solana while BTC outflows persist
Solana represented one-third of total inflows to institutional crypto investment products this past week. Institutional investors are loading up on Solana (SOL), with one-third of inflows to crypto investment products being invested in instruments tracking Solana this past week. According to CoinShares’ Aug. 23 Digital Asset Fund Flows Weekly report, $7.1 million flowed into Solana investment products between Aug. 15 and Aug. 20. Read more
GSX-GOLD-BACKED TOKENS FOR SECURITY AND PROFITS
In recent times, there are numerous cryptocurrencies that are present in the global cryptocurrency market. Cryptocurrencies today are incredibly volatile, and their value may rise or fall depending on various factors. The feature of cryptocurrencies that has to be highly volatile is one of the reasons why a huge population does not want to deal with them. Read more
JPMorgan, Wells Fargo Move To Launch Bitcoin Funds in Collaboration With Crypto Giant NYDIG
Banking titans JPMorgan and Wells Fargo are gearing up to launch new Bitcoin funds in collaboration with crypto giant New York Digital Investment Group (NYDIG), according to filings with the U.S. Securities and Exchange Commission (SEC). NYDIG is a Bitcoin-focused technology and financial services company and subsidiary of investment management company Stone Ridge Asset Management. SEC documents show that Wells Fargo is on the move to launch a Bitcoin fund in partnership with the NYDIG. The banking giant will receive placement and servicing fees as they refer clients to NYDIG, which is the fund’s issuer. Read more
GET LOANS IN FIAT WITH YOUR CRYPTO, HERE’S HOW MELD IS ADDING A NEW DIMENSION TO DEFI
The challenge to encash crypto is still one of the biggest bottlenecks in the mass adoption of cryptocurrencies and the mainstreaming of decentralized finance (DeFi). Over the past decade, cryptocurrencies have evolved as a distinct asset class – and evidently, the more profitable compared to traditional investments like stocks and precious metals. For a significant majority, the idea that cryptocurrencies are “real money” lacks conviction. It is because of the limited real-world utilities of cryptocurrencies. Read more
Opensea's Record-Breaking Monthly NFT Volume Captures More Than $1.5 Billion
30-day statistics show the non-fungible token (NFT) marketplace Opensea has captured $1.564 billion in volume, according to data recorded by dappradar.com. Opensea’s trade volume has increased by 542% over the last month and all-time statistics indicate that the NFT market has seen $2.423 billion in trade volume. Read more
DIRTY FINANCE: A PASSIVE INCOME WITH HENTAI NFTS ON TOP OF REDISTRIBUTION!
This year, non-fungible tokens (NFTs) appear to have exploded out of the ether. These digital assets sell like 17th-century exotic Dutch tulips for millions of dollars. These can be anything from art and music to tacos and toilet paper. A digital asset that depicts real-world elements like art, music, in-game items, and films is known as an NFT. They’re bought and traded online, often using cryptocurrency, and they’re usually encoded with the same software as many other cryptos. Read more
FTX Announces the First-ever Collegiate Crypto Naming Rights Sponsorship with Cal Golden Bears
Cryptocurrency exchange FTX’s latest partnership is with the Cal Golden Bears, who will play their home games on newly rebranded FTX Field, starting this season. The California university signed a 10-year naming rights deal for $17.5 million with FTX.US. In this first-ever collegiate cryptocurrency naming rights sponsorship, the signing amount will be paid entirely in crypto. Learfield will accept payment on behalf of the university, which will then pay Cal annually in cash. Read more
CONNECTING MUSICIANS, ORGANIZERS AND FANS, BEATBIND IS SCRIPTING THE FUTURE OF MUSICAL EVENTS
Music is something that everyone enjoys. Music has become an integral aspect of human life, regardless of genre. Music is not just simple entertainment, but it is a large industry.
As the music industry grows rapidly, individuals and companies are coming up with innovative ways to use blockchain technology. BeatBind is the result of such an innovative idea. This article covers a BeatBind review and discusses the BeatBInd utility token, a new innovative crypto project targeting the music industry. The BeatBind utility token will allow music lovers to book tickets using cryptocurrency. Read more
INVESTORS ARE EXCITED ABOUT GAIN PROTOCOL THE HOTTEST STATIC REWARD TOKEN
The DeFi ecosystem is booming, to say the least. The biggest advantage with DeFi protocols is the potential to generate a substantial passive income with minimum investment. However, with more and more investors actively diversifying their conventional portfolios and investing in DeFi protocols, rug pull and scams are mushrooming. Read more
Bloomberg Announces Launch of New Decentralized Finance Index for Institutions
Bloomberg, a global business and financial news giant, is expanding its coverage of the crypto markets with a new decentralized finance (DeFi) index. In a new press release, Bloomberg says the company is teaming up with digital asset manager Galaxy Digital to launch Bloomberg Galaxy DeFi Index, which will use the ticker symbol “DEFI.” The statement adds that the DeFi benchmark is “owned and administered by Bloomberg Index Services Limited and is co-branded with Galaxy.” Read more
Grayscale Tops Up Ethereum Investment To $10 Billion
Ethereum makes up a large part of crypto-asset manager Grayscale’s portfolio. In a recent report, it shows that Grayscale now has over 3 million ETH in its asset under management (AUM), amounting to more than $10 billion. This makes the asset manager one of the largest holders of Ethereum in the space. Read more
UNLOCK YOUR OPPORTUNITY TO EARN PASSIVE REWARDS WITH ALOHA’S REVOLUTIONARY DEFI ECOSYSTEM
Globally, more than 3.5 billion people use smartphones, and each of them is required to pay their monthly bills. Yet, nearly 76% of people find it either difficult to get online daily or fail to come online until the payment is made. Another fact worth noting is that nearly 67% of people don’t use the entire bandwidth (or data) allocated to them, either on their smartphone contracts or business/home ISP contracts.
Binance Hires Former Abu Dhabi Global Market Head as Singapore CEO
The move provides an opportunity to get ahead of the regulatory curve – a sore point for the exchange in recent weeks. Binance has hired Richard Teng, the former CEO of Abu Dhabi’s financial watchdog, to head the exchange’s operations in Singapore, the company said in a press release on Monday. Teng had reportedly been in talks with the exchange’s Singapore subsidiary business to join as early as last week, CoinDesk reported. Read more
Crypto ‘not protected by law,’ rules provincial high court in China
A provincial high court ruling in China has set a potential precedent by declining to protect a plaintiff’s $10,000 worth of lost crypto tokens. Yet another blow has been dealt to China’s cryptocurrency community, with news of a new high court ruling in the Shan. Read more