Crypto Guides, Knowledge & Insights

Ethereum may face ‘a volatile retest of $3,000,’ suggests prominent crypto trader

In the last few days, Ethereum (ETH) has struggled to maintain its value, which has been ascribed to the downward pressure that has been imposed on Bitcoin (BTC).　　However, the chart analysis of prominent crypto trading expert Rekt Capital published on April 25 suggests that Ethereum may return to the critical $3,000 price level as a likely volatility retest may be in progress, while a negative wick predicted by the expert may see it go as low as $2,600.　　“ETH volatile retest of ~$3000 (black) may very well be in progress. Downside wick could go down to as low as the green Higher Low ($2600). A wick into the HL before ultimately performing a Monthly Candle Close above ~$3000 (black) would be bullish.”　　Furthermore, the prominent trader pointed out that technically, ETH could see volatility drop to as low as $2600 while still maintaining its multi-month Higher Low.Ethereum confirms Ascending Triangle top　　The trader also noted ETH has proven that the Ascending Triangle top has actually flipped and is now acting as a level of resistance. 　　“As a result, ETH has been rejected there and is now experiencing downside. ETH could revisit the blue level below if it fails to hold the red boxed

2022-04-25Deep Dive

BITCOINBitcoin [BTC] This may be a sign of what’s coming next

Bitcoin has hovered around its ascending support line since mid-April after failing to secure enough buying volume to trigger a healthy bounce-back. Its performance over the last 5 days confirmed that as it finally broke through the support line for the first time this year.　　Bitcoin has been trading within an ascending support and resistance range since January 2021. It has remained within that range, despite multiple breakout attempts. However, performance over the last two weeks failed to maintain the same buying vigor as it previously did every time the price interacted with the support line.　　BTCs bearish performance in the last 5 days yielded more downside which extended further below the support line. It pushed below $40,000 once again as more FUD flowed into the market.　　However, heavy accumulation between $39,000 and $40,000 has so far prevented more downside. To some extent, it had resulted in an upside of 0.83% to $39,786, at the time of writing.Potential for more downside？　　A breakout below the support level might be interpreted as an indication of bearishness ahead. This aligns with the FUD and expectations that the market might continue with its bearish performance. In fact, some speculate that BTCs price might dip below $20,000. Such

2022-04-25Deep Dive

Macron discusses EU regulation, web3, French start-ups and innovation

French crypto website The Big Whale published an interview on Friday with President Emmanuel Macron, just two days before the conclusion of the second round of the French election that pits him against rival Marine Le Pen.　　The interview was published in French along with an English translation.　　Macron described to the interviewers a hopeful regulatory future in which a unified European finance sector would take a pragmatic approach that would instill confidence yet encourage innovation. “France will pay close attention that the text does not prevent innovation and remains as neutral as possible in terms of technology. What is happening should also lead us to move much faster on the subject of the digital euro.”　　He also expressed concern that Europeans not be left behind in the development of web3 and the metaverse. “My desire is for Europe to be a central player in contrast to what has happened so far. I want to specifically ensure that European players master the technological building blocks associated with web3 and the metaverse so as not to depend on American or Chinese giants.” He added that European cultural institutions should develop an NFT policy.　　Macron said that while he welcomes foreign investment as long as the

2022-04-25Deep Dive

Andreessen Horowitz Launches A16z Crypto Research Lab

A16z Announces It Will Conduct Blockchain Related Academic Research　　Andreessen Horowitz, an organization with heavy investments in crypto and Web3 startups, has announced the launch of the a16z crypto research lab, an initiative that will let the company tackle the challenges the sector presents. The company considers that the crypto and Web3 sector has “emerged as a new frontier in technology, and it has matured into an independent field of knowledge that brings together elements of computer science, economics, finance, and the humanities”　　This potential the VC firm sees in the blockchain environment is what is fueling its dedication to trying to solve all the new problems that the crypto environment faces, combined with the ability to put these resolutions to the test. On this, a16z stated:　　There is an opportunity for an industrial research lab to help bridge the worlds of academic theory with industry practice, and to help shape crypto and web3 as a formal area of study by bringing together the very best research talent from the various disciplines that are relevant to the space.　　The lab will be headed by Tim Roughgarden, a researcher and computer science professor at Stanford and Columbia, and Dan Boneh, professor of computer science and

2022-04-25Deep Dive

Japanese Carmakers Toyota and Nissan Enter the Metaverse

‘Limitless Possibilities’　　Japanese carmakers Nissan and Toyota have become the latest global corporations to join the metaverse after a report said the former had launched a virtual showroom while the latter had created virtual workspaces. By establishing a presence in the metaverse, the two carmakers join their European counterparts Volkswagen and Mercedes Benz in making use of the technology.　　As per a Nikkei Asia report, Nissan has created a digital reality version of its Tokyo gallery Nissan Crossing which can be used for vehicle launches and other events. On its website, Nissan Motor Corporation stated that through its Invisible-to-Visible — an augmented reality interface that connects to the metaverse — it has created “limitless possibilities for services and communications that will make driving more convenient, comfortable, and exciting.”　　On the other hand, Toyota, which is one of the largest carmakers in the world by volume, is reported to have created virtual workstations for some departments and its subsidiaries. Using avatars, employees take part in company meetings and also chat with each other.　　According to the report, the technical development and human resources teams at the parent company are already utilizing virtual workspaces. There are also plans to further expand this, the report said.Another Communication

2022-04-25Deep Dive

Coinbase CEO Says Apple's Crypto Policy Raises 'Potential Antitrust Issues'

Potential Antitrust Issues　　Coinbase CEO Brian Armstrong talked about Apples crypto policy in an episode of the Superteam podcast, which aired last week. Superteam is a podcast that explores the web3 ecosystem in India.　　Commenting on Apple‘s anti-crypto policy, he detailed: “You try to get your app in the App Store and Apple ejected it and then they had this competing one that got approved … it’s a black box.” The Coinbase boss elaborated:　　Apple so far has not really played nice with crypto. They‘ve actually banned a bunch of features that we would like to have in the app, but they just won’t allow it — so theres potential antitrust issues there.　　Armstrong added: “There‘s going to have to be crypto-compatible phones that I think could actually become quite popular in the future, so it’ll be interesting to see how that plays out.”　　The crypto exchange CEO stressed that he doesnt want Coinbase to be like Apple, adding: “Decentralized exchanges (DEXs) to me are very interesting for that reason.”　　Regarding coin listings, the Coinbase CEO explained that as a regulated financial service business, the platform cannot just list anything so Coinbase developed “very vigorous listing standards” to decide which cryptocurrencies will be listed.　　If a coin

2022-04-25Deep Dive

Can Dogecoin Slide Further? Key Technical Levels To Keep An Eye On

Dogecoin remains bearish at the time of writing as it just broke below its immediate price support line. Broader market weakness can be attributed to the price fall. Major market movers have displayed choppy price action.　　Over the last 24 hours, Dogecoin lost 2% and in the last week, it declined by 8%. The global cryptocurrency market cap was at $1.93 Trillion as there has been a decline of 0.2% in the last 24 hours.　　The meme coin has been facing tough resistance at its immediate price ceiling. Buyers have also decided to lay low as a reason the coin continues to fall prey to selling pressure.　　Constant fall in buying pressure has pushed the coin to break its immediate support level and eye its next price floor.Dogecoin Price Analysis: Four Hour Chart　　Dogecoin just broke below the price support level of $0.134 on the four-hour chart. Image Source: DOGE/USD on TradingView　　Dogecoin was trading for $0.1324 as it breached its support level of $0.1345 at the time of writing. The coin has been bearish and it has been trading in a descending channel that is considered to be negative.　　A continued fall in prices could push DOGE to $0.1279 marking a 4% fall. If the

2022-04-25Deep Dive

Blockchain networks overview: What makes these networks the best?

Despite years of development and increased security levels, the crypto industry is still being heavily impacted by hackers. In Q1 of 2022, online criminals managed to steal almost $1.3 billion, across 78 recorded incidents. In many cases, the problem did not lie with the protocols, but with the hackers ability to trick unsuspecting users. But, there were also numerous instances where flaws and exploits were the reason why hackers managed to get away with the money.　　This is why we wanted to make a comparison of some of the biggest and most popular blockchain networks, and see which of them are the best, as well as the safest. What are blockchain networks？　　A blockchain network is a technical infrastructure that provides smart contract and ledger services to applications. Essentially, they are blockchains that can be used as development platforms for creating a variety of blockchain products.　　They came back when Ethereum first emerged and shifted the attention from cryptocurrency trading towards blockchains potential as it can be used to create virtually any type of app, protocol, or service that exists off-chain.　　As a result, we now have countless Ethereum-like blockchains that all offer to serve as Ethereum alternatives. This leads to further diversification and

2022-04-25Deep Dive

Central Bank of Mexico Will Launch Its CBDC In 3 Years

On April 21, Victoria Rodriguez Ceja, Governor of the Bank of Mexico (Banxico), said during a hearing before the Mexican Senate that the CBDC (MDBC) “will be in circulation” by 2025.　　According to Rodriguez, the CBDC will enable greater financial inclusion for citizens while expanding existing payment options. They also expect to deploy new automation mechanisms to speed up payment processes.　　“The digital currency seeks to generate means of payments aimed at financial inclusion, expand options for fast, secure, efficient and interoperable payments in the economy, and implement complementary functionalities to the (existing) means of payment, such as automation mechanisms, programmability, and innovation.”　　This would delay a little bit the previous schedule shared by the Central Bank. On december 31 of2021, Cryptopotato reported that the country had in mind 2024 as the year to launch a CBDC. The announcement, however, gives the idea that Mexicos CBDC could support more services than just transmission of value.　　Banco de México Is Thinking on Regulating Cryptocurrencies　　Although Mexican President Manuel López Obrador ruled out the possibility of adopting Bitcoin or any cryptocurrency as legal tender in the country, Mexicos own central bank is now seeking to give them greater legality through regulation.　　Rodriguez said that Banxico and other central

2022-04-25Deep Dive

Brian Armstrong: Apple Does Not Allow Features That Makes Phones Crypto-friendly

Apple‘s App Store policies, according to Brian Armstrong, CEO of Coinbase, have impeded the company’s product plan. He blamed Apple for prohibiting features from their app and overall being unfriendly to the crypto business.Brian Armstrong Bashes Apple　　On a recent episode of the Superstream Podcast, Coinbases CEO and co-founder Brian Armstrong chastised Apple for “potential antitrust issues”　　Armstrong came on the Superstream Podcast on April 20 to discuss the current situation of cryptocurrency, entrepreneurship, and Coinbase, the firm he cofounded.　　Before going on to criticize Apple, he implied that crypto investors would one day be able to utilize “crypto-compatible” devices with special hardware characteristics built-in.　　He claimed that “Apple so far has not really played nice with crypto” claiming that the business had disallowed a number of features that they wanted in the app but that Apple would not allow.　　“Apple so far has not really played nice with crypto, they have actually banned a bunch of features that we would like to have in the app, but they just won‘t allow it – so there’s potential antitrust issues there,” he said.　　When asked if Coinbase would ever release its own hardware wallet, Armstrong revealed the information. He claimed that the company already has a co-branded

2022-04-24Deep Dive

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