Connect with us

Bitcoin

TA: Ethereum Breaking This Confluence Resistance Could Spark a Recovery

Published

on

Ethereum

Ethereum started a major decline below the $3,200 support zone against the US Dollar. ETH price traded as low as $2,807 and it is now attempting a recovery wave.

  • Ethereum started a fresh decline below the $3,300 and $3,200 support levels.
  • The price is now trading below $3,200 and the 100 hourly simple moving average.
  • There is a key bearish trend line forming with resistance near $3,020 on the hourly chart of ETH/USD (data feed via Kraken).
  • The pair could a steady recovery wave if there is a close above $3,050 in the near term.

Ethereum Price Corrects Losses

Ethereum started a major decline from the $3,500 resistance zone. ETH traded below many important support zones near $3,300 and the 100 hourly simple moving average, similar to bitcoin.

The bears gained strength below the $3,200 support zone. Finally, ether spiked below $3,000 and extended its decline. A low is formed near $2,807 and the price is now correcting losses. There was a break above the $2,920 and $2,950 resistance levels.

The price recovered above the 23.6% Fib retracement level of the recent decline from the $3,455 swing high to $2,807 low. An immediate resistance on the upside is near the $3,020 level. There is also a key bearish trend line forming with resistance near $3,020 on the hourly chart of ETH/USD.

Source: ETHUSD on TradingView.com

A close above the $3,020 and $3,050 levels could start a decent recovery. The next major resistance might be near the $3,130 level. It is near the 50% Fib retracement level of the recent decline from the $3,455 swing high to $2,807 low. A clear break and close above the $3,130 level could start a steady increase. The next major resistance sits near $3,300.

More Losses in ETH?

If ethereum fails to correct higher above the $3,020 and $3,050 resistance levels, it could start another decline. An initial support on the downside is near the $2,960 level.

The next major support seems to be forming near the $2,900 level. A downside break below the $2,900 support zone could lead the price towards the $2,800 zone. The next major support is near the $2,750 level, below which ether price might decline towards the $2,640 support zone.

Technical Indicators

Hourly MACDThe MACD for ETH/USD is slowly losing pace in the bearish zone.

Hourly RSIThe RSI for ETH/USD is still well below the 50 level.

Major Support Level – $2,960

Major Resistance Level – $3,050

Advertisement google news
Click to comment

Bitcoin

Bitcoin Mining In The U.S.: 4 States Attract The Most Miners

Published

on

Bitcoin Mining

Dataset from Foundry shows that four states in the U.S. have the highest Bitcoin hash rate distribution. The dataset shows that many Bitcoin miners are headed to New York, Kentucky, Georgia, and Texas.

Foundry U.S. is the largest mining pool in North America and the fifth-largest globally. The hash rate is a measure of collective mining power. A mining pool enables miners to combine their hashing power with other miners all over the world.

Bitcoin Mining In The U.S.

According to the data, within the U.S., New York accounts for 19.9% of bitcoin’s hash rate, 18.7% in Kentucky, 17.3% is in Georgia, and 14% in Texas.

Source: Foundry U.S.

At the Texas Blockchain Summit in Austin on October 8, 2021, Nic Carter, co-founder of Castle Island Ventures, presented Foundry’s data. “This is the first time we’ve actually had state-level insight on where miners are unless you wanted to go cobble through all the public filings and try to figure it out that way,”

He added that “This is a much more efficient way of figuring out where mining occurs in America.”

However, Carter pointed out that the Foundry dataset does not consider all the U.S. mining hash rates as not all U.S.-based mining farms use its services. One of the largest publicly traded mining companies in America,
Riot Blockchain, with a huge presence in Texas, does not use Foundry. Therefore, the dataset does not account for its hash rate. Texas’ mining presence is understated and could possibly be higher than the 14% quoted.

BTCUSD chart on TradingView.com

BTC trading at over $55K | Source: BTCUSD on TradingView.com

Many of the states with the highest Bitcoin hash rates also have high proportions of renewable energy. This fact may have started changing the narrative that bitcoin is bad for the environment.

Related Reading | $425bn Wiped Off Crypto Market As Musk Says Bitcoin Is Bad For The Environment

According to CNBC, a lot of the miners are moving to these states because they have cheap and renewable sources of power. Data from the U.S. Energy Information Administration (EIA) shows that a third of New York’s in-state generation comes from renewables sources. Kentucky, which has the second-highest hash rate, is also known for its hydroelectric and wind power. The state’s government recently passed a law that grants certain tax exemptions to crypto mining operations.

Carter also said that the migration of miners to the U.S. is positive because it means much lower carbon intensity.

Texas Leads Bitcoin Mining

Although Texas ranks fourth according to the data, experts believe it is the top mining destination in the U.S. The state houses mining giants like Riot Blockchain, and the Chinese mining service platform Bitdeer.

report from earlier this year shows that large orders for mining ASICs are also being delivered to Texas.

Related Reading | Bitcoin Mining Moves to Texas, Bitmain Announces Partner for Massive New Facility

Crypto-friendly lawmakers, a deregulated power grid with real-time spot pricing, and access to significant renewable energy, as well as stranded or flared natural gas, are what make Texas attractive to miners, according to CNBC.

Featured image by Finance Magnates, Chart from TradingView.com
Continue Reading

Bitcoin

2 Popular Crypto Airdrops To Go Live in October

Published

on

2 Popular Crypto Airdrops To Go Live in October

Airdrops is the hottest event in the crypto industry which has the power to seek a lot of attention from the crypto users. Crypto enthusiasts also await for this event as they can earn free crypto coins or tokens. This popular airdrop project takes place every month gaining new followers into the cryptocurrency space. 

So for October 2021, there are 2 exclusive airdrops that are yet to release which increases the eagerness for the users. Thus, the crypto enthusiasts will be busy participating in the upcoming hot crypto airdrops for this month. Additionally, the lucky winners will be announced on Twitter after 7days of the airdrop event. 

1. SUKU (SUKU) 

SUKU plays an important role serving as a bridge connecting business and consumers in such a traceable and transparent way. Besides, SUKU’s power of blockchain will boost its network to become the future of supply chains today. Further the most interesting feature of SUKU is, it helps the consumers to find the authenticity of the products. Thus, it saves the customers funds developing trustable commerce platforms. 

The current market value of SUKU is $0.511194 USD which will surge even more delivering the universal symbol of truth for consumers and brands. 

Event Details

  • Date of Start: Monday 11th of October, 2021 at 22:00 GMT
  • Total Airdrop Amount: 3,500 SUKU
  • Number of Winners: 3,500

Guidelines to participate in the Airdrop

– Add SUKU to the watchlist on CoinMarketCap: https://coinmarketcap.com/currencies/suku 

– Connect in SUKU Telegram: https://t.me/SUKUecosystem 

– Join CryptoTicker on Telegram (optional): https://t.me/cryptotickertrading 

– Follow SUKU on Twitter: https://twitter.com/SUKUecosystem 

– Follow CryptoTicker on Twitter (Optional): https://twitter.com/CryptotickerIo 

– Give INFINITE on Twitter follow: https://twitter.com/infinitebysuku 

– Retweet SUKU’s pinned tweet: https://twitter.com/SUKUecosystem 

– Create a user on infiniteworld.com, select a username, and copy it into CoinMarketCap airdrop form.

2. KingMoney (KIM) 

KIM is an interesting network marketing project which grabs the users interests to operate in an easy transport of digital assets. As cryptocurrency is emerging as a financial source to many businesses, rising its economical state in the marketplace. 

Besides, KIM has the power to reduce the bureaucracy in transactions across boundaries. Also, the network provides speed transactions of currencies along with speed delivery of products between the sales firms, distributors, and the consumers. The special feature of KIM is, it rejects the presence of external mediators. Thus, with all unique features it has recorded a high value in the market in recent months. 

Event Details

  • Date of Start: Wednesday 20th of October, 2021
  • Total Airdrop Amount: 60 KIM
  • Number of Winners: 1,000

Guidelines to participate in the Airdrop

 – Add KingMoney to the watchlist on CoinMarketCap: https://coinmarketcap.com/currencies/kingmoney/

– Follow King Money on Twitter: https://twitter.com/Kingmoneyio/ 

– Follow CryptoTicker on Twitter (optional): https://twitter.com/CryptotickerIo 

– Kindly Like and retweet the Airdrop pinned post 

– Tag and Mention at least 3 friends with the hashtags #KingMoney #WKIM 

– Connect with KingMoney on Telegram: https://t.me/kingmoney_currency

– Join CryptoTicker on Telegram (optional): https://t.me/cryptotickertrading

– Fill in the airdrop form and attach the ETH(ERC20) address for getting WKIM (Trust Wallet/MetaMask/…)

–The airdrop form is accessible on the below link when the event starts: https://coinmarketcap.com/currencies/kingmoney/

WKIM contract address:https://etherscan.io/token/0x6e9fe390ebb23138de4ea6949d0898577de0a860

Continue Reading

Bitcoin

Financial Industry Professionals Agree That Future of DeFi Requires Cross-Chain Interoperability and Seamless Liquidity Transfer Services

Published

on

debridge

The decentralized finance (DeFi) ecosystem has grown exponentially during the past few years. Beginning with the launch of Ethereum (ETH) in mid-2015, application developers across the globe began to write smart contracts to support a wide range of decentralized applications (dApps). A few years later, other platforms such as EOS and TRON launched their mainnets during mid-2018.

Before their launch, the historic bull market of 2017 brought a lot of attention to the space, which was mostly a niche market. At that time, the market saw Bitcoin surge from around $1,000 in January to nearly $20,000 by December 2017 and the Ethereum (ETH) price skyrocketed from just $10 to briefly over $1,400. Although there was a very strong correction afterwards, many more individuals and organizations became aware of the potential of crypto.

As more users attempted to transact across blockchain networks, it became clear that distributed ledger technology (DLT) networks were just not able to settle transactions as quickly as high-performing networks like Visa (NYSE: V) or Mastercard (NYSE: MA). Although blockchain platforms are fundamentally different from more traditional payment processing networks, both need to offer a seamless user experience.

Visa Executive Identifies Requirement for Digital Currency Interoperability

That’s why the crypto and blockchain space is witnessing many new projects emerge that can address scalability requirements. In addition to being able to handle a large number of transactions, blockchain networks also need to be interoperable with each other. This means that if a user is transacting with a set of tokens on one DLT network, then they should also be able to engage in asset transfers with other DLT platforms in a seamless manner.

Catherine Gu, Global CBDC (Central Bank Digital Currency) Product Lead, Visa, recently noted that as the number of virtual currency networks continues to rise — each with “unique design characteristics” — the likelihood that individual consumers, businesses, and merchants are performing transactions on a single network and utilizing the same type of money (or digital tokens) decreases.

Gu added that the team at payments giant Visa believes that for digital currencies and token economies to be successful, they must provide an excellent consumer experience as well as “widespread merchant acceptance.”

This means that we need to have the ability to make and receive payments, “regardless of currency, channel, or form factor.” That’s why Visa decided to develop their own universal payment channel. While Visa may be focused mainly on payments, this clearly shows that interoperability between different networks, including blockchains, will be essential.

Creating Decentralized Standard for Cross-Chain Interoperability, Liquidity Transfers

That’s why projects such as deBridge have secured millions of dollars in funding, so that they can work towards establishing a decentralized standard for cross-chain interoperability. The developers of deBrige aim to enhance cross-chain functionality by allowing different DLT networks to seamlessly exchange assets and information between each other.

The deBridge development team aims to provide the critical digital infrastructure that would allow large blockchains such as Binance Smart Chain (BSC) and Ethereum (ETH) to interact with each other. While DeFi may be a key part of the digital economy of the future, it will require the support of cross-chain interoperability protocols to achieve its goal of mainstream adoption.

deBridge’s $5.5 million investment round, which was finalized in early September 2021, included participation from ParaFi, Animoca Brands, Huobi Ventures, Lemniscap, Crypto.com Capital, Fundamental Labs, bitScale, and many other investors. Notably, deBridge started during the Chainlink Spring 2021 Hackathon event, where the team received the grand prize while competing against 140 high-potential projects.

The modern consumer demands more accessible and diverse financial services. These requirements have made it critical to establish the appropriate infrastructure to enable interoperability between different blockchains and financial ecosystems.

Continue Reading

Bitcoin

Is XRP Eyeing $2 By the End of October?

Published

on

Is XRP Eyeing $2 By the End of October?
  • XRP rises upto 10.34% highest in the past 24 hours.
  • XRP’s current market shows complete bullish trends.
  • Analysts predict XRP to reach $2 by the end of October.

Being among the top ten cryptocurrencies obviously adds up immense pressure and responsibilities for the top ten. Besides fighting constantly to maintain their dominance, they have to profusely develop their technology too.

Amidst all this, the 6th ranking upon the top cryptos, the XRP has been quite promising in recent times. The prices have been steadily on the rise for the past few days. In spite of this and also taking its graphs into consideration, many expect XRP to cross the $2 target by the end of October 2021. 

October 2021 Trend of XRP  

Taking the last 24 hours into consideration, XRP has locked the highest of the week gains of 10.34% a few hours back. Accordingly, the price surged up to $1.2082 making it the highest price for the past 1 month time period. 

Ever since the start of October 2021, XRP has been performing steadily, surging up in a rather composed manner. Moreover, the present overall market cap for XRP values about $54.73 Billion. 

Moreover, taking the past 7 days into consideration, the value of XRP has spiked up about 12.42%. Also, the price has increased from $1.037 to the highest of $1.2.

In addition, all the hype added to XRP’s current market trend has made many analysts dig deeper. Accordingly, many predict that the graphs of XRP are showing a complete bullish trend throughout the month of October. 

In spite of this, if everything goes without the interference of any other external factors, then it’s predicted that by the end of October, XRP will cross the mark of $2 efficasely. 

Factors Affecting XRP Price

However, many external factors ought to be at play though for the price of XRP. Ever since the SEC lawsuit on Ripple, many exchanges feared and removed XRP from their listings, making its price plunge down.

Moreover, Ripple’s strong stand against the U.S Securities and Exchange Commission (SEC) lawsuit has recently persuaded the overall enthusiasts. Until any final judgment prevails in favor of the U.S SEC, then XRP price will be on the surge with Ripple’s backup.

On the other hand, constant trouble comes from the next-in-line rival, the Solana (SOL). Likewise, by the second week of September, SOL took the position of 6th place dethroning XRP. However, it was short-lived and just within a few days, XRP gained back its throne. 

Therefore, trouble from the SOL is also another added factor that will cause the price of XRP to fall.

The post has appeared first on thenewscrypto.com

Continue Reading

Bitcoin

Stacks (STX) Reached $2 While Surging Up Over 43% In A Day

Published

on

Stacks (STX) Reached $2 While Surging Up Over 43% In A Day

Many altcoins are performing better than the mainstream cryptocurrencies in the market. Investors are not only focusing on leading crypto-assets, they are also trying to witness the potential of other altcoins. Some coins have the potential to return the gain to investors and some fail to perform well. As we all know, trading cryptocurrencies does not ensure users with only gain, it is an on and off switch every day.

Stacks is one such altcoin that is now presenting a bullish run. It has the potential to set up a new all-time high if the trend continues. Since its ATH in mid-May, this is the first time that the price of STX has hit above the $2 level.

Stacks is a layer-1 blockchain solution for bringing smart contracts and decentralized applications (DApps) to Bitcoin (BTC). These smart contracts are added to Bitcoin without affecting any of the factors that make it so powerful, such as its security and stability.

Current Market Status

At the time of writing, the price value of STX is $2.09 with a trading volume of $595,870,210 in the last 24-hours. According to Coinmarketcap, STX has jumped over 43% within a day and it holds 57th position. The current circulating supply of STX is 1,818,000,000 coins. 

Trading chart of STX

The chart depicts the bullish pattern for the past 24-hours. The price value of STX has surged from $1.43 to $2.16 in a day which is 43% up. With the 7-day statistics, the chart displays a surge of 51%. The top exchanges where STX can be traded are Binance, Mandala Exchange, OKEx, FTX, and Upbit.

Bitcoin NFTs On Stacks

NFTs are being launched on Bitcoin via Stacks. This smart contract platform settles its transaction on the Bitcoin blockchain. Following that NFTs on Bitcoin began to explode through Stacks. Moreover, the firm has a list of upcoming NFT drops for the buyer to purchase.

Considering the recent updates, Bitcoin NFTs on Stacks might be the reason for the surge in the price value of STX. However, the users are expecting more highs and a new all-time high. Significantly, with the ongoing advancements, STX has the potential to reach new highs in the upcoming days. 

Continue Reading

Bitcoin

My Experience Buying Virtual Land on Next Earth

Published

on

My Experience Buying Virtual Land on Next Earth

In the fall of 2017, NFT projects like Cryptokitties took off like a rocket. I had the opportunity to have a lot of discussions about the crypto space, NFTs, and the emerging metaverse.

These conversations centered around how virtual land could become a viable alternative asset niche within cryptocurrency markets, and the metaverse. That’s when it clicked for me: humans have owned land for thousands of years all over the world, but now it’s being replicated digitally on computers around the world.

Virtual real estate will have its own set of economic principles just like physical real estate does, and Next Earth is leading the way in creating this new asset class. Next Earth was launched in August 2021 and has quickly become the metaverse’s largest virtual real estate platform based on a replica of Earth, with nearly $2M in the total value of land owned by users.

The importance of NFTs

In my view, NFTs are a continuation of our evolution from caves to cities to the blockchain – they’re just another tool for us to build our lives and connections digitally.

As we all know, technology is both a blessing and a curse, so I think we’ll have some growing pains as we figure out how to create safe spaces online while also allowing people to express themselves creatively and make money along the way. But if Next Earth is any indication, I think it will be very exciting times ahead for virtual real estate.

Buying virtual land NFTs on Next Earth

All that said, let’s look at the process of buying virtual land NFTs on Next Earth.

First, I just signed up at nextearth.io, with my email and password. Next Earth is the largest and most well-established of the current crop of metaverse real estate companies. I also joined a community of thousands of other landowners and NFT enthusiasts, through their Discord community here.

After creating my account, I created a Binance Chain address through the Binance Chain Chrome extension. If you don’t have a Binance Smart Chain address yet, it’s time to get one. Once you’ve generated an address, you need to send BNB (the BSC native token) to it in order to log into Next Earth and buy virtual land NFTs.

After connecting my wallet, I used the Next Earth map to find virtual real estate that I’d be interested in. Next Earth has a visual map where you can browse all available parcels of virtual land. You’ll also see the current ownership status for each parcel, as well as any bids placed by other users.

Beyond being able to browse the entire virtual replica of Earth, you can simply type in a location, like “White House,” and see if those tiles are available for sale. After connecting your wallet, you can purchase any available tiles. As you can see below, I decided to choose a nice mansion in Hollywood Hills.

1633864244 877 My Experience Buying Virtual Land on Next Earth

Of course, you can also buy land from other users via the NFT marketplace. This is a newly active area of the Next Earth platform – people can buy and sell virtual real estate NFTs with each other. If the tile you’ve browsed was taken, you can head over to the NFT marketplace to see if it’s available for sale from the original buyer.

For example, you can buy Area 51, prime mall locations, wine tasting locations, and many more fascinating real estate plots through the marketplace.

1633864244 123 My Experience Buying Virtual Land on Next Earth

From here, you can do one of two things: you can hold your NFT land and watch the prices increase over time, or you can let someone else put a bid on your virtual land. With Next Earth’s NFT marketplace, you can choose to either hold the item or re-sell it through the marketplace.

Ultimately, NFTs have steadily risen in popularity over time, but exploded recently in part due to the growing accessibility of blockchain technology and the rise of crypto-assets.

Consumers have plenty of options when it comes to buying NFTs. It used to be that buying virtual items was largely limited to popular online games (World of Warcraft, Minecraft, etc.). But now, there are plenty of non-game examples like Next Earth, where you can buy any virtual land as an NFT.

 

Photo by Colton Jones on Unsplash
Continue Reading

Bitcoin

Build Your Own Homemade Gold Sluice Box

Published

on

By

Have you ever thought of going prospecting for gold? Using a sluice box may help you find more of that beautiful yellow stuff. Here how you can plan and build your own gold sluice box. These do it your self projects are popular with lots of folks, and fun to think about even if you just end up buying a store bought product. Here are some thoughts on how to build your own do It Yourself, hand fed Gold Sluice Box – I think it’s a great project for beginners. A wooden sluice like this was the first piece of prospecting equipment I ever built.

A sluice box lined with riffles is one of the oldest forms of gravity separation devices still being used today. They are simple and have been in use all across the world for thousands of years. A sluice is really nothing more than an artificial channel lined with devices to catch gold through which water flows, moving the lighter materials such as clay, sands and gravels out of the sluice. They heavier materials remain behind, trapped by the riffles. For many years, most sluice boxes were home made affairs designed and built in the gold prospector himself. To this day, in the gold bearing regions of third world countries, prospectors design and build sluice boxes out the most unusual items – sometimes whatever materials are available locally. You don’t really need any special sluice box plans – the exact size is really not all that critical.

Making your own gold sluice is actually a very good beginning project for new prospectors in my opinion. Just take a close look at the sluices being offered by the manufacturers, and that will show you how to build your own sluice box. It won’t be difficult to get some ideas to make your own plans. Sluice boxes can be made out of wood, aluminum, plastic or steel. Injection molded plastic is not really an option easily available to the do-it-yourself prospector, and steel has a tendency to rust, so wood and aluminum are the preferred options.

In developing plans for a homemade sluice box, the more time you spend thinking about your design, the better. You don’t want to have to buy parts you don’t need, but on the other hand your slice box needs to work and catch the gold efficiently. A good plan and a good understanding of how a sluice box traps gold are important to your design. I think using miners moss underneath your riffles is a real important item for capturing that fine gold. That is why miners moss is used in the sluices of nearly all commercial suction gold dredges. Having a liner underneath the riffles is an important aid in catching small gold dust, and is very worthwhile. I went with miners moss under all the riffles in my sluice, and I strongly recommend it for you.

The typical wooden homemade sluice is made of boards and varies in width from 8 to 18 inches, usually with a depth of 6 inches to a foot. A typical length would be in the three to 6 foot range. Riffles can be made from half inch square dowel nailed about every 6 inches down the length of the sluice. The section without riffles in the top of the box about a foot long is often left for the spot where material shoveled in. This type of sluice box does catch gold, and is easy to build, but is hard to clean out at the end of the day. In addition, the gravel will beat up the wooden riffles over time. It is also possible to create steel riffles that fit inside a wooden sluice, and in that case you can also use miners Moss or some similar material to line the bottom of the sluice underneath the metal riffles.

Homemade sluices can also be made from lightweight aluminum. Wooden sluices tend to become waterlogged in increased greatly in weight after they have been in the water for time. This gives aluminum quite an advantage and it is certainly preferred in the construction of the homemade sluice. The trough of the sluice, whether aluminum or wood, is usually roughly about the same size.

For those interested in making their own home made hand fed sluice box from aluminum with steel riffles as a do it yourself type of project, I can say if you have any metal fabrication skills, you will find this an easy project. A little welding, a little metal folding and the project is done. If you purchase fairly thin aluminum sheet it will be possible to bend it yourself into the trough shape as a single piece (just don’t go too thin). More information and detail can be found on the authors website.

Continue Reading

Bitcoin

XYO Price Climbs Up Over 51% in Last 24 hour

Published

on

XYO Price Climbs Up Over 51% in Last 24 hour