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Bitcoin Daily Exchange Net Flows Shows Sell-Offs Have Not Subsided

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Bitcoin

Bitcoin daily exchange net flows have been erratic for the last month, to say the least. This is due to the numerous swings between dumping and stacking being done by investors in the space, all of which have affected the price of the digital asset in their own way. However, the net flows have begun to find a balance and it is unfortunately not a positive one.

Outflows Start To Dominate

The inflows and outflows for the last day have not been alarming in a way but the fact that it continues to skew towards inflows which us a testament to the sell-offs that have rocked the place. The data from Glassnode which shows the net flows between the two shows that more BTC was moving into centralized exchanges than those going out of them. A total of $729.7 million BTC were moved out of exchanges in the last day, while inflows came out to $766.9 million. This led to a net positive flow of $37.2 million.

Related Reading | Bitcoin Drops Below $22,000, Is Peter Brandt’s Analysis Still In Play?

This comes as no surprise given that more investors are trying to get out of the digital asset to avoid incurring more losses. Even with the accumulation trend that has been recorded across large investors, it is still not enough to upset the amount of BTC being moved to centralized exchanges to be sold.

This has negatively impacted the price of bitcoin given that the digital asset had declined below $20,000 once more. The fact that there is more USDT leaving exchanges than that coming in shows that investors are moving to stablecoins for safety. As such, they are not buying cryptocurrencies like bitcoin.

BTC loses footing above $20,000 | Source: BTCUSD on TradingView.com

Bitcoin Investors Try To Catch Up

Even though the price of bitcoin is still declining, the interest from investors, especially smaller ones, has not waned. This renewed interest is seen in the number of addresses holding at least 0.1 BTC. After falling during the price crash, the number has now recovered and has reached a new all-time high of 3,706,019 addresses with more than 0.1 BTC on their balance.

Related Reading | Wall Street Investors Expect Bitcoin To Hit $10,000, Is This Possible?

Now, this has not affected the price much in any way given these smaller investors have little control over the market. However, it speaks volumes about how investors are viewing the current market climate, which to many has become an opportunity to buy coins at a discount.

Nevertheless, the digital asset continues to maintain bearish momentum. More addresses are being triggered as the price decline continues. Bitcoin is trending at $19,670 at the time of this writing and has now fallen below its $400 billion market cap.

Featured image from Analytics Insight, charts from TradingView.com

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Battle Against Cyber Threats To Be Addressed by Cyber Security Visionaries at #WCSSJordan

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Battle Against Cyber Threats To Be Addressed By Cyber Security Visionaries At #Wcssjordan

The 17th global edition of World Cyber Security Summit is gearing up with the goal of constructing a security framework for organisations in Jordan. The summit is taking place on 15 – 16 August 2022 in Jordan, and features notable speakers including Mohammad Alkhudari, Ira Winkler, Abdulrahman Alnimari, Prof.MohandTaharKechadi, George Eapen and many more.

The 17th global edition of World Cyber Security Summit will be held under the auspices of H.E. Dr Bisher AlKhasawneh, Prime Minister of the Hashemite RKingdom of Jordan, and supported by the Ministry of Digital Economy and Entrepreneurship, Jordan.The summit is taking place on 15 – 16 August 2022 at The Ritz-Carlton in Amman, Jordan. World Cyber Security Summit is part of a global series and is brought to Jordan by Trescon, a global business events and consulting firm that specialises in hosting future-tech events across the world.

As the country braces for a protracted cyber insecurity, government and organisations are looking for an action plan to mitigate the risks and become resilient to cyber threats. Thus resulting in the announcements of a raft of policies to manage digital vulnerabilities in the recent years. In order for effective implementation of these policies,World Cyber Security Summit will play its part by providing a platform to conduct thorough debates, and deliberations on the proposed cyber security strategies.

The summit will host more than 300+ C level attendees, including government officials, Chief Information Security Officers, Chief Information Officers, CEOs and technology leaders from enterprises and government agencies in Jordan to meet, network, and engage with global cyber security experts and technology innovators over the course of two days.

“The importance of cyber security is being increased and it is not an option for companies and organizations, and having the advanced defence in place is required for critical infrastructure and data. Sensitive data and information protection is the source of trust in organizations,”said H.E. BelalHafnawi, Commissioner – Board Member at Telecommunications Regulatory Commission (TRC-Jordan).

Abdulrahman Al-Nimari, VP – Cybersecurity from Saudi Arabiastated,“Remember: compliance to regulations does not mean you are secure, you must have your own risk driven cyber security program and strategy that mitigate your own unique risks.”

HaidarFraihat, Cluster Leader – Statistics, Information Society, and Technology at United Nations Economic and Social Commission for Western Asia (ESCWA) says, “Corporations can easily fall into the false sense of security syndrome. Illusioned that their precious data is safe, they may tend to drop guard and invest less in enhancing their data security. Realizing that data and information is the strategic asset to organizations, perhaps more than financial resources, is of paramount importance to keep your competitive edge, security and even survivability. Feeling secure doesn’t mean you are really secure.”

Some of the leading industry experts speaking at the summit include:

  • Scott E. Augenbaum– Retired FBI Supervisory Special Agent; Author; Cybercrime Prevention Trainer, Scott Augenbaum LLC
  • Glen Thomas – Partner – Head of Technology and Cyber Consulting,Grant Thornton, United Arab Emirates
  • Dr.HaidarFraihat – Cluster Leader – Statistics, Information Society, and Technology, United Nations Economic and Social Commission for Western Asia (ESCWA), Lebanon
  • Jacob Mathew – Head of Information Technology, Government of Abu Dhabi Entity, United Arab Emirates
  • Nicole Lau – Sales Director, Verimatrix, Oslo, Norway
  • Ricoh Danielson – CEO, 1st Responder, an Incident Response Firm, United States
  • Eng. Abdullah Faisal Biary – CISO, United Cooperative Assurance, Saudi Arabia
  • Taha Hussain – Information Security Specialist, Dubai Electricity & Water Authority – DEWA, United Arab Emirates
  • Dr.HossamElshenraki – Associate Professor, Dubai Police HQ, United Arab Emirates
  • Eng. Mona Alshehri – Risk and Compliance Analyst, Saudi Air Navigation Services, Saudi Arabia
  • Dr Ahmed Abd El Hady Mohamed – Director of Quality in General Administration for Quality and Environmental Affairs,Holding Company for Water and Waste Water (HCWW), Egypt
  • H.E. BelalHafnawi – Commissioner – Board Member,TelecommunicationsRegulatory Commission (TRC-Jordan), Jordan
  • Nada Khater– Head of Digital Transformation Policies and Strategies, Ministry of Digital Economy & Entrepreneurship, Jordan
  • Eng. Lama Arabiat – Head of AI, Ministry of Digital Economy and Entrepreneurship, Jordan
  • Dr. Ashraf Ahmad – Dean – Princess Sumya University for Technology (PSUT), Open Source Intelligence in Arabic Challenges and Solutions, Jordan& many more elite speakers.

The event will focus on topics such as:

  • Jordan’s roadmap to the digital revolution through cyber security
  • Cyber Security for the Government of Jordan: Challenges, strategies, opportunities
  • Cyber Security: An enabler and growth partner for modern businesses
  • Zero Trust Model: How to boost application security?
  • How to protect your data in times of constant connection?
  • What is layered security and how does it protect your data?
  • Data Security: Top threats and best practices
  • SaaS Security: Meeting the needs of modern enterprises

“We’re happy to bring the global series of World Cyber Security Summit to Jordan, with the support of our Strategic Partner, Jordan Cyber Security Awareness Association (JOCSA). We hope this event will be a stepping stone for realising how critical cyber security at this day and age is for organisations in the region,” stated Mohammed Saleem, Founding Chairman, Trescon

The 17th global edition of World Cyber Security Summit – Jordan is supported by Hashemite Kingdom of Jordan and the Ministry of Digital Economy and Entrepreneurship, Jordan and officially sponsored by:

To attend World Cyber Security Summit – Jordan, book your tickets here.

About World Cyber Security Summit

World Cyber Security Summit is a thought-leadership-driven, business-focused global series of events that provides a platform for CISOs who are looking to explore new-age threats and the technologies/strategies to mitigate them.

The Jordan edition is hosting CISOs across industry sectors who will meet, network, learn and engage with some of the world’s renowned technology thought-leaders, subject matter experts, and technology innovators in a constructive, open-dialogue environment to find solutions for issues hindering their information/cyber security.

About Trescon

Trescon is a global business events and consulting firm that provides a wide range of business services to a diversified client base that includes enterprises, governments, and individuals. Trescon is specialized in producing highly focused B2B events that connect businesses with opportunities through conferences, roadshows, expos, demand generation, investor connect, and consulting services.

For further details about the announcement, please contact:

Disclaimer: TheNewsCrypto does not endorse any content on this page. The content depicted in this press release does not represent any investment advice. TheNewsCrypto recommend our readers to make decisions based on their own research. TheNewsCrypto is not accountable for any damage or loss related to content, products, or services stated in this press release.

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Ethereum Climbs To $1,900, Why $2K Could Be Next

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Ethereum

Ethereum started a major increase above $1,800 against the US Dollar. ETH is rising and might continue to rise towards the $2,000 resistance zone.

  • Ethereum found support near $1,680 and started a fresh increase.
  • The price is now trading above $1,800 and the 100 hourly simple moving average.
  • There was a break above a major bearish trend line with resistance near $1,740 on the hourly chart of ETH/USD (data feed via Kraken).
  • The pair could continue to rise further higher towards the $1,950 and $2,000 levels.

Ethereum Price Rallies 12%

Ethereum remained well bid above the $1,650 level. ETH formed a base and started a fresh increase above the $1,750 resistance zone. The bulls pumped the price above the $1,800 level.

The price climbed higher and even broke the $1,850 resistance. Finally, there was a move above the $1,900 and the price settled above the 100 hourly simple moving average. A high was formed near $1,919 and the price is now consolidating gains.

It is now trading well above $1,800 and the 100 hourly simple moving average. Ether price is also well above the 23.6% Fib retracement level of the upward move from the $1,655 low to $1,919 high.

Source: ETHUSD on TradingView.com

An immediate resistance on the upside is near the $1,920 level. The first major resistance is near the $1,950 level. A clear move above the $1,950 level could start a steady increase to $2,000. If the bulls remain in action, the price may perhaps rise towards the $2,120 resistance zone in the near term.

Dips Supported in ETH?

If ethereum fails to rise above the $1,920 resistance, it could start a downside correction. An initial support on the downside is near the $1,850 zone. The next major support is near $1,800.

The main support is near the $1,780 level or the 50% Fib retracement level of the upward move from the $1,655 low to $1,919 high, below which there is a risk of a sharp decline. In the stated case, ether price may perhaps decline towards the $1,750 support. Any more losses might call for a test of the $1,700 level.

Technical Indicators

Hourly MACDThe MACD for ETH/USD is now losing momentum in the bullish zone.

Hourly RSIThe RSI for ETH/USD is now above the 65 level.

Major Support Level – $1,780

Major Resistance Level – $1,920

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Binance Clears Stand on Supporting Upcoming Ethereum Merge

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Binance Clears Stand On Supporting Upcoming Ethereum Merge