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GRNGrid secures 50 million USD investment Commitment from GEM Digital

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Grngrid Secures 50 Million Usd Investment Commitment From Gem Digital
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ZUG, SWITZERLAND, 19th September, 2022, Chainwire

The GRN Association announced today that it has secured an investment totaling $50M for the GRNGrid project from GEM Digital Limited, a venture capital focused on digital currencies.

About GRNGrid

GRNGrid is an environmentally friendly, scalable, and stable Layer 1 blockchain, with novel DeFi features. On GRNGrid, users have the choice to only use nodes running exclusively on renewable energy for their transactions.

GRNGrid’s renewable energy partners, who specialize in data center and hosting facilities, have shown keen interest in running Grid’s nodes as validators. With their help, the company can kickstart the availability, speed, and sustainability of GRNGrid in Q2 2023. GRNGrid’s novel features as GRNPay and Exnode will also encourage developers and consumers to connect on GRNGrid.

GRNGrid is also introducing Proof-of-Stake V2 (PoS2). GRNGrid is the first blockchain with a consensus method specifically designed to tackle whales and achieve fairer distribution. This consensus method will deliver increased security, enhanced decentralization, and better financial sustainability.

GRN ($G) is the native token of GRNGrid. “G” will govern the blockchain by staking to validate and earn validation rewards. Consumers are able to provide liquidity to the inbuilt DEX called Exnode.

The GRN Association is a Swiss-based NPO (non-profit organization), — and protects the sustainable vision of GRNGrid, as well as providing funding to environmental projects. The association also handles the ReCharge program, which enables GRNGrid validators to repurpose their hardware and cut back on electronic waste.

The new funding from GEM will be invested in further connectivity with top crypto Exchanges, adding new global professional partnerships, and building out its blockchain technology and infrastructure.

Frederik Vyncke: “The GRN Association is confident that with the support of GEM investment and the community, it can bring GRN Grid to fruition and be setting the tone for a renewable blockchain with innovative features and create a sustainable development”

For more information, visit:

GRNGrid | Twitter | Telegram

About GEM

GEM Digital Limited is a digital asset investment firm. Based in The Bahamas, the firm actively sources, structures, and invests in promising utility tokens listed on over 30 centralized and decentralized exchanges globally.

For more information, visit:

GEM Digital Limited

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Uniswap Could Slide Below Support Zone

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Uniswap
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On Thursday, the $6.7 price range of Uniswap was rebuffed once again. The momentum has slowed on the shorter time frames, which is a bearish indicator for traders and investors.

It’s possible that the recent decline in Bitcoin’s value is responsible for UNI’s lag.

Statistics show that there is a moderately high relationship between UNI and Bitcoin.

Recent price changes for both coins show a strong correlation between them. UNI has been closely following Bitcoin’s price action.

As the bearish slump in Uniswap continues into its second day, the currency pair may be retracing its recent gains.

As of this writing, UNI is trading at $6.45, up 12% in the last seven days, data from Coingecko show, Friday.

Uniswap Indicator: Bearish

UNI fell to a closing price of $6.379 yesterday, 7.62% lower than its September 28 closing price of $6.555. Price action in the past is also suggestive of a developing bearish momentum.

The momentum indicator is at a bearish low at the moment.

Daily and 4-hourly trends tell the same pattern as well. The amount of UNI currency on hand is at an all-time high, per CryptoQuant statistics. Foreign exchange reserves on the rise portend worse conditions.

As of this writing, daily UNI transaction volume in the shorter time frames from September 27 to now has been volatile.

During this time range on September 27, UNI rallied and tested the $6.7 resistance level. This price trend mirrored that of Bitcoin.

Although demand for UNI is not very great, both BTC and UNI are currently exhibiting indications of recovery.

A Retreat, Or Advance?

A recent research predicted that UNI would decline to $5.50, a volatile region that might spark a bigger sell-off in the crypto.

A decline of this nature could prompt investors and purchasers to acquire a position inside the aforementioned price range, restoring the currency to its current value.

However, UNI’s technological aspects are relatively neutral. On the charts, this appears as a near-stabilization of the price, which is supported by the 38.20 Fibonacci level.

This neutrality of the technical indicators and the relatively stable price range can assist the bulls in gaining strength for a breakout.

However, UNI has struggled to surpass the $6.49 level of resistance.

A breach of this resistance might initiate a gradual rally toward the $6.7 price level.

As the price trend wanes, UNI has a same chance of falling to $5.5 or rising to $6.7.

UNI total market cap at $4.95 billion on the daily chart | Source: TradingView.com

Featured image from Brightnode, Chart: TradingView.com

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Binance Registers as Financial Service Provider in New Zealand

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Binance Registers As Financial Service Provider In New Zealand
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