Markets

ADA price started a fresh increase above the $0.52 resistance against the US Dollar. The price is now trading above $0.52 and the 55 simple moving average (4-hours). There is a key bullish trend line forming with support near $0.5120 on the 4-hours chart (data feed via Bitfinex). The price could gain bullish momentum if it stays above the $0.512 support zone. Cardano price is showing positive signs above $0.512 against the US Dollar, similar to bitcoin. ADA price could...

Ethereum price started a major increase above the $1,800 level against the US Dollar. ETH price is now trading above $1,850 and the 55 simple moving average (4-hours). There was a break above a connecting bearish trend line with resistance near $1,760 on the 4-hours chart (data feed from Coinbase). The pair could gain bullish momentum if it clears the $1,920 resistance zone. Ethereum price is rising above the $1,800 level against the US Dollar. ETH/USD could rise further...

Hotbit – a Shanghai-based cryptocurrency exchange – has indefinitely frozen all trading, deposits, and withdrawals of its users’ crypto assets. Yet unlike other firms, Hotbit said that its suspension of services is related to a legal battle it’s facing with law enforcement agencies, rather than bear market liquidity issues. Hotbit’s Legal Drama According to an announcement from the company on Wednesday, the activity freeze is due to a former Hotbit employee having been...

With the upcoming Vasil hard fork, Cardano is expected to see an overhaul on the network. The focus will be on ramping up throughput and smart contract improvements. In a recent report, on-chain analytics platform, Messari observed that Cardano is “priced more aggressively” when compared to other growing ecosystems due to Vasil. It further said the market seems to be expecting significant improvement from the much-anticipated upgrade. Cardano Overvalued? Cardano has been...

Cardano managed to rally by 7% together with the rest of the market once CPI figures showed inflation slowed in the US. Key Support levels: $0.50, $0.45  Key Resistance levels: $0.55, $0.66  US inflation decreased in July to 8.5% compared to 9.1% in June. The market quickly rebounded as soon as these figures were published today. ADA’s price was also quick to react with a 7% rally on the daily chart. Now, the price is again approaching the key resistance at $0.55, and support...

Rockefeller International managing director and chairman Ruchir Sharma thinks bitcoin is going to endure a serious comeback in the coming months. Ruchir Sharma on the Future of BTC At the time of writing, bitcoin is enduring one of the worst bear markets in history. The world’s number one digital currency by market cap shot up to roughly $68,000 per unit last November, thus achieving a new all-time high. However, the asset has since fallen by more than 70 percent and is...

In 2011 the UN released a report declaring the internet a Human Right, but over a decade later millions of people in developing countries still lack the necessary means for a simple WiFi connection, many of which reside in Latin America. This is due to industry control by a few large Internet service providers (IPSs), with a preference to upsell to their established customer base, rather than expanding to untapped regions in which millions of people are in dire need of...

The crypto winter is really wreaking havoc on crypto miners everywhere. While large scale miners are still doing “ok” in the general scope of things, those who have simply made mining a hobby and who are doing it from home have either been forced to leave the industry completely or really scale back so they can save money on their operations. Crypto Miners Have Seen Profits Really Fall Many of the at-home crypto miners to emerge in recent years say they have seen their...

Sam Bankman-Fried – the crypto executive behind the growing and increasingly popular digital exchange FTX – has said many of the digital currencies out there are “empty products” with “real crash potential.” Sam Bankman-Fried on Many of the Newer Assets His words come at a time when the crypto space is arguably suffering like it never has before. Assets like bitcoin, for example, have lost more than 70 percent of their value at the time of writing, with the world’s...

Coin Switch – a digital currency investing app – has announced Sudheer Tumuluru as the head of its crypto engineering department. Coin Switch Has Added Many People to Its Payroll Sudheer previously served as the vice president of engineering for fashion for the e-commerce company Myntra. He has worked extensively with big data, cloud, and infrastructure platforms, and with several companies in both the United States and India. He’s excited to be bringing his wealth of...