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Will Polkadot Network Progress Give An Ailing DOT Renewed Vigor?

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Polkadot has proven successful in a number of areas recently. Data from Santiment shows that there has been a dramatic increase in development on Polkadot.

But does this mean a brighter future for Polkadot? Data shows that the highest amount of transfers occurred on September 16.

In addition, there’s even better news. Parallel chaining is likewise very active. The volume of transactions using these secondary chains on the Polkadot main chain is an indicator of this action.

The GLMR token from Moonbeam and the MOVR token from Moonrivers are two of the most well-known.

Chart: TradingView.com

Polkadot Investors Up In Numbers

Investments on Polkadot are also at an all-time high, with DFG coming in first place with 52 active projects.

While these claims certainly sound promising, how will they impact DOT’s market presence? The coin’s performance on the market has improved, thanks to recent changes.

Investor confidence in Polkadot’s ecosystem and native token DOT can increase if the crypto market recovers with the broader financial markets.

Both the DeFi and the more conventional financial markets are experiencing unfavorable market circumstances that make price changes unlikely. The recent increase in interest rates by 0.75 percent exacerbates the already intense selling pressure.

DOT Challenged By Adverse Market Conditions

Fear caused by recent CPI data is still evident on the charts as bears continue to test the lower part of the Donchian channel. Even though bulls are attempting to gain momentum, adverse market conditions continue to outweigh them.

DOT is trading at $6.48 as of this writing, down 6.5 percent in the last seven days, data from Coingecko show. However, DOT is expected to receive excellent news from the charts.

The critical support at $6.04 has slowed the price’s precipitous decline. It bolsters the strengthening bullish trend, which is more evident on the 4-hour to 1-hour tick indicators.

The price has settled between $6.04 and $6.83 near the center channel. After a sharp rejection candle at the opening of today’s trading session, the bulls may be able to penetrate and consolidate above the immediate resistance level of $6.57 if there is less volatility around these price levels.

The current price movement according to the XABCD harmonic pattern indicates that investors and traders should buy the dip, so propelling the price into an uptrend.

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DOT total market cap at $7.15 billion on the daily chart | Source: TradingView.com

Featured image from VOI.id, chart from TradingView.com

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Can WAVES Flow Back From Its Low Ebb And Reclaim $4.6?

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Can Waves Flow Back From Its Low Ebb And Reclaim $4.6?
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The month of September for WAVES didn’t look good as the coin registered a sharp downward pattern. The market is looking bearish as WAVES slipped below the key $4.6 level.

  • Crypto market looking bearish for WAVES
  •  WAVES key support retests the $4.3 zone
  • OBV shows a weakening in selling volume

Bitcoin, the king of crypto, climbed to $19.8K, forcing the retreat of the bears and allowing the bulls to recharge.

In the event that Bitcoin nosedives lower than $19K, this could inevitably pull the other cryptocurrencies down with it.

On the other hand, WAVES has shown some improvement as it dashes above the $4 zone in the last two days.  

Waves is a multi-purpose blockchain platform which supports different types of use cases including decentralized applications and smart contracts.

The blockchain platform’s native token is WAVES, an uncapped supply coin used for payments such as block rewards.

$4.3 Revisited As Key Resistance Zone

Based on the 4-hour chart, WAVES was able to recover and jump to the $4.3 level following its recent correction.

In the next days, WAVES price is seen to bounce back in the $4.5-$4.6 range. A couple of days ago, the key support found at $4.3 have been revisited as a key resistance zone.

Source: TradingView.com

Earlier, its price has once again dropped below the $4 range. On the 1-hour chart, it retreated once again or back to the $4.3 level following its latest setback.

The price on the higher timeframes is seen to be massively bearish than bullish. Additionally, the market is now leaning toward the sellers as noted in the past few weeks.

WAVES was aiming to hit the $4.3 mark a few days ago but was barred and pushed towards the $3.9 mark instead.

With that being said, going long in the $4.02 support level wouldn’t be a wise move, especially with the risks involved.

With the token unable to clutch strongly on the $4 zone, this led to the bears gaining enough traction to dominate. Additionally, a selling opportunity is predicted to occur once a retest is done on the $4 mark.

WAVES RSI Falls Below 50

According to CoinMarketCap, WAVES price is up by 2.53% or trading at $4.01 as of press time.

The Fibonacci retracement levels at the $4.0 and $4.09 range can hinder the buyers’ intent to press on the gas in terms of prices.

The token’s relative strength index is seen to have traversed below 50 further strengthening the validation of bearish momentum.

Also, the CMF is seen to have dropped beneath the -0.06 level showing the rapid loss of capital. In terms of On Balance Volume, the token seems to signify weakened selling as seen in the past few days. More so, the OBV also shows that there is no indication of a sharp pullback.

The price is seen to have plunged below the $4 mark. It was seen to pause at the $3.94 level which means a retest at the $4 mark could tick off a selling opportunity.

Can Waves Flow Back From Its Low Ebb And Reclaim

Crypto total market cap at $902 billion on the daily chart | Source: TradingView.com

Featured image from The Coin Republic, Chart: TradingView.com

(The analysis represents the author's personal views and should not be construed as investment advice).

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Sandbox Struggles In A Bear Market, How Low Can Price Go?

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Sandbox Struggles In A Bear Market, How Low Can Price Go?
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  • SAND trades below 50 and 200 EMA on the daily timeframe. 
  • Price continues to range with little or no volume despite having strong fundamentals.
  • A break above $1 could trigger a relief rally for SAND price.

Sandbox (SAND) price has had a rough time recently as price ranges in a daily timeframe channel against tether (USDT). Despite having good fundamentals with so much backing from top investors and partnerships, the price of Sandbox (SAND) has struggled to replicate its run to a high of $8. (Data from Binance)

Sandbox (SAND) Price Analysis On The Weekly Chart 

The price of SAND has had difficult moments, with such movement from a low of $0.5 to a high of $8 in a few weeks, creating euphoria in the hearts of traders and major crypto players.

Despite being backed by strong investors and partnerships, the bear market has impacted the price of SAND, which has dropped from $8 to $1, a drop of more than 70% from its all-time high.

SAND’s price showed great strength as it rallied from its weekly low of $1 to a high of $1.5 before failing to break above that region to higher heights.

The price of SAND has remained range-bound, unable to break above a weekly resistance of $1.5 to trend higher to the $2 region.

To have a better chance of trading higher, the price of SAND must break and close above $1.5. The price of SAND has formed a downtrend line, acting as resistance; flipping the area of $1.5, which is acting as weekly resistance, into support will signal a more relief bounce for the price of SAND.

If the price of SAND fails to break through this key resistance region, we may see the price of SAND range within this channel or retest the $0.6 and lower support and demand zone for more buy orders.

Weekly resistance for the price of SAND – $1.5

Weekly support for the price of SAND – $0.6-$0.5.

Price Analysis Of SAND On The Daily (1D) Chart

Daily SAND Price Chart | Source: SANDUSDT On Tradingview.com

The daily timeframe for SAND prices remains in a range channel, with prices unable to break out due to low volume. After being rejected from a high of $1.5, the price continued in a range in a channel, with eyes set on flipping the $1.5 rejection area, where SAND prices have tested several times.

The price of SAND is currently trading at $0.92 on the 1D timeframe, below the 50 and 200 Exponential Moving Averages (EMA), which act as resistance. The prices of $1 and $1.6 correspond to the 50 and 200 EMA resistance levels, respectively.

The price of SAND needs to flip the $1 resistance into support to signal a relief bounce as the price of SAND has kept trading at its low since the major rally.

Daily resistance for the SAND price – $1-$1.6.

Daily support for the SAND price – $0.6.

Featured Image From Breakingnews, Charts From Tradingview 

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How Metamask Gambling Is Decentralizing The Online Casino Industry

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How Metamask Gambling Is Decentralizing The Online Casino Industry
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Metamask gambling has been growing in popularity over the last couple of years. With the rise of the Web3 space and online crypto gambling, Metamask managed to fill in a gap that brings both sectors closer to one another.

Crypto casinos are taking more to integrate the Metamask wallets on their websites for gambling activities. Using a decentralized Web3 wallet like this ensures that users of these gambling platforms are able to enjoy features that are not available on more conventional online casinos.

Why Metamask Gambling Is Better

One drawback of conventional casinos is the arduous sign-up processes that are usually associated with them. However, casinos had started to move towards accepting crypto deposits and withdrawals, which, over time, had required less stringent sign-up processes. But even this was not a seamless process. This is where Metamask gambling enters the picture.

Metamask is a Web3 wallet that allows users to interact directly with cryptocurrency networks. It had started out on the Ethereum blockchain but had since expanded to include other blockchains such as BSC, Avalanche, etc. It comes in the form of a browser extension and mobile application from which users can directly connect to Web3 websites. It is also an easy-to-use hot wallet where users can receive coins by simply copying their addresses to forward to the sender.

Given this, Metamask has found a natural home in the online gambling industry. Gambling websites are able to integrate the Metamask wallets directly on their platforms, making it possible for users to register or log into the website using the wallet, as well as processing faster deposits and withdrawals.

Best Metamask Casinos

Metamask gambling casinos have been known to provide some or all of the integrations mentioned above. In some cases, some casinos will offer the option to deposit with Metamask only or the option to use the hot wallet as a means of authorization. So, here are the top 3 Metamask gambling casinos that you should look at.

Bitcasino

Bitcasino is arguably one of the best Metamask gambling casinos in existence. It offers full functionality with Metamask, making it a one-stop shop for all things Metamask gambling. Users can register and log into the platform using their Metamask wallets. Bitcasino also takes this one step further by offering deposits and withdrawals using Metamask. Users can also use other tokens on the wallet, such as USDT, on the Bitcasino website.

Players should, however, note that there are some things not offered by Bitcasino in this regard, such as a welcome bonus for ETH players. Users may also be required to complete a KYC verification when the casino requires it.

Nevertheless, Bitcasino offers beloved slot games, as well as a wide variety of live casino games. The betting platform is also one of the few crypto casinos that offer betting on eSports. However, users cannot place crypto bets on games such as Crash or Dice.

BC.GAME

BC.Game has been pretty much the only Metamask gambling platform that supports the BSC network. This casino allows the direct integration of Metamask but for deposits. Users can also use the wallet to carry out authorizations on the platform. And unlike Bitcasino, BC.Game supports a much wider array of tokens, including ETH and MATIC.

While it does have a welcome bonus, there is no stable welcome bonus on the platform. Also, similar to Bitcasino, BC.Game can also require users to go through KYC verifications. However, users get one free spin daily with a prize of up to 1 BTC.

Sportsbet.io

The third on the list is Sportsbet.io. It is a Metamask gambling platform that allows a minimum deposit of 10 USDT and offers a stable welcome bonus, unlike the others. Users can get up to 2000 wager-free spins that are worth 200 USDT.

Furthermore, users can use their Metamask wallets to authorize their accounts, as well as make deposits and withdrawals. It also accepts other tokens available on the hot wallet, such as ETH and SOC.

Like the others, Sportsbet.io comes with its own disadvantages, such as KYC verification and the fact that there are no provably fair crypto games. However, the betting platform is extremely popular and is currently the principal sponsor of the English Premier League football club Watford FC.

Conclusion

Metaverse gambling platforms are still very new, but they have already proven their value to the online crypto gaming space. As more platforms innovate toward integrating Metamask gambling, these advantages are bound to become more apparent to the gambling community. But for now, the platforms offering Metamask gambling are a small pool and only support a handful of tokens at this time.

 
Image by Alexa from Pixabay

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CFTC Announces Settled Charges Against bZeroX Protocol

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Cftc Announces Settled Charges Against Bzerox Protocol
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  • In an unprecedented move, the CFTC also sued a related DAO.
  • The Ooki DAO is accused by the CFTC of violating the regulations.

Authorities are still cracking down on crypto. On Thursday, the CFTC announced settled charges against the creators of bZeroX, the business behind the bZx protocol. Tom Bean and Kyle Kistner, founders of bZx, were each fined $250,000 by the Commodities Futures Trading Commission (CFTC). For “illegally offering leveraged and margined retail commodity transactions in digital assets.” And failing to implement Know Your Customer (KYC) regulations.

Penalties on the DAO

However, in an unprecedented move, the CFTC also sued a related DAO. Allegedly formed by Bean and Kistner to decentralize management of the bZx protocol, the Ooki DAO is accused by the CFTC of violating the same regulations. While Bean and Kistner settled charges against themselves and bZeroX without admitting or denying wrongdoing, the CFTC is still looking to impose penalties on the DAO, including disgorgement, fines, and perhaps trading and registration restrictions.

The Commission stated in a press release:

“The order finds the DAO was an unincorporated association of which Bean and Kistner were actively participating members and liable for the Ooki DAO’s violations of the [Commodity Exchange Act] and CFTC regulations.”

A decentralized autonomous organization (DAO) is a kind of organization in which power is shared rather than centralized. Distributed autonomous organizations (DAOs) are decentralized organizations that employ smart contracts on a blockchain and allow users to vote on proposals using governance tokens.

Because they owned Ooki tokens and voted on governance proposals pertaining to how the DAO functioned, the CFTC took the unprecedented step of holding Bean and Kistner responsible for the DAO’s alleged unlawful actions.

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Canada-based Coinsquare Acquires CoinSmart Exchange

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Canada-Based Coinsquare Acquires Coinsmart Exchange
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  • Only two Canadian crypto exchanges, including Coinsquare, have pre-registered with authorities.
  • Justin Hartzman co-founded CoinSmart and has served as its CEO.

After Coinsquare, one of the major digital asset trading platforms in Canada, purchased CoinSmart for an unknown price, the country’s cryptocurrency exchange scene seemed to be solidifying.

Thursday, Coinsquare stated that it has signed a formal deal to acquire 100% of the issued and existing shares of Simply Digital, a fully owned subsidiary of CoinSmart. Moreover, CoinSmart’s NEO Exchange-traded stock price rose by 67% on Friday, perhaps in reaction to the announcement.

As a result of the purchase, Coinsquare is now better able to serve its customers. And compete with other cryptocurrency exchanges in Canada. Coinsquare, which launched in 2014, now provides institutional and retail trading, crypto payment processing, and digital asset custody, among other services.

In 2018, Justin Hartzman co-founded CoinSmart and has served as its CEO since the company’s inception. Hartzman is expected to become a member of Coinsquare’s executive team if the transaction is finalized.

Rise in Crypto Adoption

CoinSmart’s financials are made public on a quarterly basis, as befits a publicly listed firm. According to the company’s annual report published on April 1. Gross sales for 2021 were $16.7 million, an increase of 357% over the previous year. 

Only two Canadian crypto exchanges, including Coinsquare, have pre-registered with their primary authorities. Moreover, in an effort to comply fully with securities regulations. The Canadian Securities Administrators (CSA) set the pre-registration standards to enable cryptocurrency exchanges to continue operating. While their complete applications with CSA are assessed.

The adoption of cryptocurrencies in Canada is on the increase. But like in other nations, it is mostly determined by underlying market circumstances. KPMG found that institutional investors are warming up to crypto as a result of its perceived benefits and new possibilities.

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New Restrictions Cap Yearly Crypto Purchases in Canada

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Post ETH Merge Vitalik Buterin Wants Others To Follow Suit

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Scammers Impersonating Vitalik Buterin On Rise Following Merge
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