Crypto Guides, Knowledge & Insights

Ethereum At $3028, Where Is The Next Critical Support Level For ETH?

Ethereum was priced at $3030 and the altcoin king noted a sharp decline of 11% in the past week. Major cryptocurrencies are all on a downtrend, after breaking past their immediate support levels.　　Bitcoin was priced below $40k and had declined by 12% over the past week. The global cryptocurrency market cap stood at $1.96 Trillion after a decline of 0.2% over the last 24 hours.　　Ethereum had witnessed a selling spree in the last week but over the last 24 hours, the coin tried to recover from the grasp of sellers, however, buying pressure is yet to resurface in the market. Recently, Ethereum developers went live with their Mainnet Shadow Fork.　　Ethereum is priced at $3028. Image Source: ETH/USD on TradingView　　Ethereum was priced at $3028.86 and the coin has been hovering around the aforementioned price level over the past 48 hours. Immediate resistance for the coin stood at $3085.60 after the coin has been rejected from that level a couple of times in the past few days.　　Continued rejection from the resistance mark can push Ethereum to trade near the $2839.12 support level.　　A fall to that level would mean a 6.44% decline. In case the bulls resurface, the coin would aim for the

2022-04-14Deep Dive

Ethereum’s Merge will no longer happen in June, new date unknown

Ethereums highly anticipated transition to a Proof of Stake (PoS) consensus that is anticipated to be live in June is set to be shifted to an unknown date, this was revealed by Tim Beiko, one of the lead developers on the project.Ethereum‘s transition to PoS postponed from June　　According to a tweet from Beiko, Ethereum’s Merge will not happen in June but it is likely going to happen “in a few months after.”　　The statement was made in response to a question from an Ethereum miner on whether the mining community will have more time or the plug would be pulled for Proof of Work (PoW) miners in June. 　　Beiko went on to advise miners not to invest in more mining equipment as the transition is just a few months away.　　Ethereums final transition to a PoS network will mark the end of mining on the blockchain, this is something that the Ethereum foundation has promised for years. 　　With the new consensus mechanism, miners would give way to validators who would become responsible for confirming transactions on the network. This move is expected to help Ethereum become more scalable and at the same time cut down on its energy use.When will the Merge

2022-04-14Deep Dive

Major Indian Crypto Exchanges Blocked All Transfers and Deposits

Two major cryptocurrency exchanges, CoinSwitch Kuber and WazirX, have currently limited their rupee deposits that were used in the extremely popular transfer network for buying digital assets like Bitcoin or Ethereum. Investors have already expressed their concerns and asked for refunds, Reuter reports.　　The country was and is constantly working on new laws and regulations for the digital assets industry and cryptocurrencies in general. Previously, the central bank of the country backed the ban on cryptocurrencies because of the risks that they create for the financial stability of the countrys economic system.　　It is not yet clear what or who is behind the limitation of rupee deposits on two major crypto exchanges. Last week, the National Payments Corporation of India, which manages the state-backed transfers network, did not confirm the usage of the United Payments Interface by any cryptocurrency exchanges.　　On one of the two exchanges, CoinSwitch disabled rupee deposits for their users but also left the opportunity to withdraw funds.　　Exchange users on Twitter insisted that exchanges should give more information to users and release a statement about the limitations and their duration. As the Reuters articles suggest, CoinSwitch representatives have not responded to the news agency.　　According to industry sources, the previously mentioned

2022-04-14Deep Dive

Binance Invests €100M in French Crypto Startups

Key Takeaways　　Binance has invested €100 million in France to support and help the countrys startup crypto scene grow.　　As part of its efforts, the firm has also partnered with Station F, the worlds largest startup incubator based in Paris.　　Besides providing financial support, Binance will advise French crypto startups on token economics, help them with their initial token sales, and potentially provide them with liquidity by listing them on its exchange.　　Binance announced today that it had invested €100 million (around $108 million) in France to help the countrys Web3 startup scene.　　Binance Partners With Station F　　Binance has invested €100 million (around $108 million) in the French crypto scene in a bid to help grow the pie for everyone.　　Speaking at Paris Blockchain Week Summit Wednesday, Binance CEO Changpeng “CZ” Zhao announced that the firm had partnered with the world‘s biggest startup incubator Station F and invested €100 million to help incubate French crypto startups. Zhao said that the aim of the investment is to grow the entire industry by supporting France’s crypto scene. “France is uniquely positioned to be the leader of this industry in Europe,” Zhao said at the conference, adding that the governments attitude toward business and crypto “has been phenomenal.” He

2022-04-14Deep Dive

Bitcoin Millionaire Sends 5,100 BTC to Unknown Wallet

Leading Bitcoin network indicators remained weak in the last few days amid a drop in interest from retail and institutional BTC investors. However, some large crypto addresses are still executing multi-million dollars Bitcoin transactions.　　On-chain analytics platform, Whale Alert recently highlighted the transfer of 5,100 BTC from digital exchange Coinbase to an unknown crypto wallet. The $200 million transfer was executed on Monday 11 April at 19:03 UTC.　　The latest transaction was observed nearly 1 week after a prominent BTC address moved 2,175 coins worth nearly $100 million from Binance. In a separate transfer earlier this week, someone moved 1,000 BTC worth over $40 million from an unknown wallet to Gemini.　　While the overall trend in the past 12 months shows a substantial drop in BTCs exchange supply, the latest movements present a mixed picture as Bitcoin exchange inflows and outflows almost remained at par during the last few days.Bitcoin Network　　Some of the most important BTC network indicators, including the overall transaction counts and the total number of profitable BTC entities, dropped in tandem with the price of the world‘s most valuable digital asset. However, Glassnode’s latest report shows that the number of active BTC entities has increased recently despite price challenges.　　“Across this

2022-04-13Deep Dive

Bitcoin price levels to watch as Terra buys 2.5K BTC to nearly match Tesla

Bitcoin (BTC) is keeping traders on the edge of their seats this week as support levels come close to breaking.Traders line up targets below $40,000　　Data from Cointelegraph Markets Pro and TradingView shows that lines in the sand below $40,000 barely remain intact after multiple retests.　　The $40,000 mark has been working overtime in recent days as Bitcoins macro-fueled downtrend continues to play out. Falling in line with tech stocks, BTC/USD has erased almost all of its gains from the second half of March.　　Now, the $30,000-$40,000 corridor has appeared as a short-term target once again and may see Bitcoin stage a replay of its behavior from Q1 this year.　　Support levels of interest include one from last months push higher, $39,600, which bulls are just about managing to defend despite several crossings lower.　　Below that, whale buying zones could act as a safety net, on-chain monitoring resource Whalemap noted on April 12.　　Popular trader Crypto Ed, meanwhile, is eyeing $38,600 as a short-term bounce area, underscoring the mixed consensus over just how far Bitcoin could fall.　　As Cointelegraph previously reported, Arthur Hayes, ex-CEO of derivatives platform BitMEX, expects the largest cryptocurrency to trade at $30,000 in June.　　On longer timeframes, analyst Kevin Svenson, meanwhile, eyed the 600-day

2022-04-13Deep Dive

Ariana Grande’s Fundraiser PledgeCrypto To Faciltate Crypto Donations On The Platform

Fundraising platform Pledge has now launched ‘PledgeCrypto’ which has now enabled non-profits to take crypto donations in over 130 prominent cryptocurrencies.　　Bitcoin, Ethereum and Tether are among the cryptocurrencies through which crypto donations can be accepted and instantly converted into fiat currencies.　　Ariana Grande, the crusader of Trans rights has used Pledge to raise funds for Trans Visibility Day.　　Grande had launched the “Protect and Defend Trans Youth Fund” and had stated that she would raise $1.5 million through the Fundraiser to match her own donation.　　James Citron, CEO of Pledge, had mentioned, “Over 300 hundred million people around the world hold cryptocurrency today and want more than ever to support the causes they care about,” and also that they have made “it seamless for anyone to support the worlds largest network of 2+ million verified charities and for charities everywhere to seamlessly accept cryptocurrencies and further power their mission.”Free and Fully Integrated Crypto Donation Platform　　PledgeCryptos platform is the only free and fully integrated platform for both cryptos as well as fiat currencies. The donations made on this platform directly go to verified charity organizations.　　It doesnt require any technical expertise or experience, cryptocurrency wallet, or even KYC documents.　　There are other charity partners such as

2022-04-13Deep Dive

Mexico's Third Richest Billionaire Warns of Severe Dollar Inflation — Says Buy Bitcoin to 'Save Your

Mexican Billionaire Warns About Inflation　　Mexicos third-richest billionaire, Ricardo Salinas Pliego, gave some advice Thursday regarding inflation, hyperinflation, bitcoin, and fiat currencies at the Bitcoin 2022 conference in Miami, Florida.　　Salinas is the founder and chairman of Grupo Salinas, a group of companies with interests in telecommunications, media, financial services, and retail stores. According to Forbes list of billionaires, his net worth is about $13 billion currently.　　The billionaire began by sharing his own experience living with inflation. “I was making $2,000 in 1980 and a few years later I was making 20 bucks — the same salary was down from 2,000 to 20 bucks,” he said, adding:　　So I know about hyperinflation. I‘ve been there. And it’s not the same to know it in theory as to actually be a victim of it.　　He warned: “The bad news is that the U.S., and Japan, and the U.K., and the euroblock — they are going exactly the same route my country went in the 80s. Its exactly copy-paste, you could just change the numbers but the graph would be the same.”　　The Mexican tycoon proceeded to show a chart of the total federal debt of the U.S. government, which is projected to be $36.2 trillion in

2022-04-13Deep Dive

Iran plans to launch its own CBDC

The Central Bank of Iran (CBI) has announced that it has notified domestic banks and credit facilities about the regulatory framework for Irans central bank digital currency, known as crypto-rial.　　　　Iran Launching crypto-rail 　　According to a recent report, the laws for minting and distributing digital money will be observed. The Central Bank of Iran will mint the crypto-rials, and the institution will determine the maximum quantity of the currency.　　The study goes on to discuss the procedure of issuing this digital money. It presents a distributed ledger system with a list of permitted financial institutions and how smart contracts may be used for the project.　　Earlier CBI pronouncements indicate how the crypto-rial would become Irans new currency. According to the study, the money would be utilised in the same way as banknotes and coins are, but the procedure would be purely digital.　　Previous articles on this CBDC say that it will not compete with other global digital currencies. The central bank will also be responsible for authorising the institutions that will be a part of this system and assessing the effects of the new currency on the economy.　　The reports have not mentioned wallets or the transaction fees imposed to CBDC users. The plan will

2022-04-13Deep Dive

Robinhood Lists Shiba Inu and 3 More Cryptocurrencies — SHIB Price Soars

Robinhood Finally Lists Shiba Inu Crypto　　Popular trading platform Robinhood announced the listing of four new cryptocurrencies Tuesday. The company wrote:　　Were pleased to announce that customers can now buy and sell four additional cryptocurrencies through Robinhood Crypto: compound (COMP), polygon (MATIC), solana (SOL) and shiba inu (SHIB).　　Supporters of shiba inu are ecstatic to see that SHIB is now live on the Robinhood app. The SHIB community has been petitioning on Change.org for the platform to list the meme coin since October last year. Nearly 560K signatures have been collected as of Tuesday.　　“Over the past year, our crypto customers have consistently asked for two things: the ability to send and receive their tokens, and a broader selection of cryptocurrencies,” the Robinhood announcement noted.　　The company added that it has addressed customers top request by rolling out new crypto wallets to over two million users.　　Steve Quirk, chief brokerage officer at Robinhood, commented:　　Were excited to add more choices for our customers as we work to make Robinhood the best place to invest in crypto.　　He further opined: “As a safety-first company, we have a rigorous framework in place to help us evaluate assets for listing, and we remain committed to providing a safe and educational crypto

2022-04-13Deep Dive

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