Cryptocurrency

An indication of potential for a significant surge in technical analysis is often shown by the bullish megaphone pattern. Known by another name, this pattern consists of two diverging trend lines, one sloping downhill and the other upward, giving the chart the appearance of a megaphone.Price movements are expanding between the two trend lines exhibiting an increasing degree of volatility characteristic of this pattern. It usually develops following a phase of sideways or consolidation trading, indicating that the asset is preparing for a breakout. This is how it functions:Formation: As prices fluctuate between higher highs and lower lows, the pattern begins to take shape. The shape of a megaphone is produced by price swings that get bigger than the one before.Volatility increase: The volatility rises as the pattern develops. As price movements increase in magnitude, the market frequently becomes confused and uncertain. One important aspect of the bullish megaphone pattern is its increased volatility.Breakout: This pattern’s ultimate breakout is its defining characteristic. This breakout normally occurs through the upper trend line for a bullish megaphone. The breakout, which is supported by higher buying interest and trading volume, denotes robust upward momentum.Target price: Following the breakout, the target price is typically determined by measuring the pattern’s height at its widest point. The possible upside is then calculated by adding this measurement to the breakout point.This article was originally published on U.Today More

He also slammed the second largest crypto, Ethereum, in the comments under his tweet.He warned that if the answer is yes, then a minimum price target for BTC would be $44,000, since it is a reversal pattern.In the comments thread, Brandt admitted that the pattern has not been completed for Bitcoin yet since not all the conditions for it have been fulfilled.In return, legendary trader Brandt referred to ETH, using three pile of poo emojis. Peter Brandt generally supports only BTC, stressing his dislike for Ethereum in several tweets published earlier this year. However, he admitted that as a trader he would trade even ETH if there were a chance to make a profit on it.This article was originally published on U.Today More

The reactivation of long-dormant addresses usually causes bearish sentiment among market participants. It often suggests that holders are preparing to liquidate their assets, potentially flooding the market with significant amounts of Bitcoin and increasing selling pressure.This month has seen a trend of decades-old wallets reawakening, with today’s event being part of a broader pattern. Recently, U.Today reported on another dormant address activation containing approximately $8 million worth of BTC. Additionally, two addresses holding over $2 million each were reactivated after long periods of dormancy last week.These movements are particularly noteworthy given the current state of the crypto market. The Bitcoin price continues to quote at its lowest levels in months, recently hitting $54,300, a level not seen since late April.In a recent case, the unknown whale, after 13 years of inactivity, transferred 1.949 BTC, equivalent to $111,450, to a new address, labeled “bc1q6p.” Another 1 BTC was sent to another new address, “3J4Ng.” It is anticipated that the investor will further distribute his Bitcoin savings through these new addresses.The whale’s use of different Bitcoin address formats is also of interest. Traditional addresses start with “1,” multisignature addresses start with “3” and SegWit addresses begin with “bc1.” These formats offer varying levels of security and transaction efficiency.This article was originally published on U.Today More

For the $30 trillion wealth management industry, this could mean a massive influx of funds.Blockchain expert Fiorenzo Manganiello expects that once the floodgates open, cryptocurrency ETFs will form 5% of hedge fund and pension fund portfolios by 2025.As investors are now able to access bitcoin the same way they buy stocks, BlackRock (NYSE:BLK)’s spot Bitcoin ETF has accumulated $16.7 billion in assets since its launch in January 2024.Moreover, the Ether ETF is poised to gain final approval from the US Securities and Exchange Commission (SEC) this summer.”[W]ith BlackRock bearing the standard for crypto pick-up among institutional investors, you can only predict others will follow. It’s only a matter of time, too – and especially with the Ether ETF set to further progress the market,” Manganiello told Investing.com.Manganiello, co-founder and managing partner of LIAN Group, said these regulatory advancements will prompt institutional investors to increasingly incorporate cryptocurrency into their portfolios.”Crypto ETFs have been given the regulatory green light and, for an asset that has long been considered volatile and novel, it’s a big step. Crypto is beginning to prove the critics wrong; it’s been given regulatory legitimacy,” Manganiello said in an interview with Investing.com.”These institutions will look to take advantage of what has long been considered a “retail market”, diversify their assets, and open their arms to these innovative digital investments.”LIAN Group, an investment firm involved in digital infrastructure, AI, cryptocurrency, and blockchain, has deployed over $500 million in invested capital. One of their notable ventures is Cowa, the largest European blockchain infrastructure company powered by renewable energy.Manganiello also highlighted the importance of institutional investors staying ahead of the curve by adopting a “millennial savviness,” which embraces emerging alternative investments.”Institutional investors, like hedge funds and pension funds, have to be ready to consider crypto as an asset – especially with crypto ETFs quickly gaining approval,” he noted. More

Rootstock sees record-breaking usage and an influx of new partners integrated into its networkRootstock, the first and longest-lasting Bitcoin sidechain, established itself as a leading blockchain these three months, with record-breaking transactions and the integration of several new dApps, bridges, and wallets. This momentum has propelled Rootstock into the next step of its growth journey and the team is working toward further growth and improvements over the next 12 months.According to block explorer data, there have been over 13 million transactions, to date, on the Rootstock network. This is the result of record-breaking 45k transactions a month for the sidechain. The data can provide insight on why Rootstock can be an excellent place to start building on Bitcoin with over 60% of Bitcoin’s hash rate securing the network, and an uptime of 100% since its launch in January 2018.On the integration front, just over the last three months alone, over 25 dApps and protocols have been integrated into the Rootstock ecosystem providing users with new ways to access, build, and grow on Rootstock. The complete list includes the following:About RootstockRootstock is the world’s most secure smart contract platform that is cryptographically connected to the Bitcoin blockchain. Known as a Bitcoin sidechain, Rootstock uses a censorship-resistant two-way peg to allow users to send Bitcoin directly to the Rootstock chain which is then converted into smart Bitcoins (RBTC) on the Rootstock blockchain. These RBTC can be used to deploy or to interact with smart contracts and dApps on the Rootstock blockchain. BTC can be easily moved back to the Bitcoin mainchain at any point using the trustless bridge or through a variety of protocols such as Sovryn FastBTC.Website | X | Developer Portal | Discord | Youtube | BlogContactMrJames DoyleSkyParlourjamesdoyle@skyparlour.comThis article was originally published on Chainwire More

In addition to the roughly $9.5 billion in BTC the former exchange will return to its customers, Mt. Gox will also send back 143,000 BCH, worth around $73 million. This long-awaited development has created uncertainty in the market about how many investors will sell their holdings and through which venues.Kaixo Research reported that selling pressure on BCH accelerated on Binance and OKX before the official announcement, particularly at the end of Asian opening hours on July 4. Several sell orders were executed on Binance around 9 am UTC as the market awaits the announcement.The impact on BCH liquidity was evident, as price slippage for a simulated $100,000 sell order reached its highest level in over a month across most exchanges. This indicated worsening liquidity due to insufficient order book depth for large market orders. The highest slippage was observed on Itbit and Bybit. On July 5, BCH slippage rose from 0.2% to 2.8% on Bybit and from 0.3% to 3.5% on Itbit.”Strong selling pressure related to the Mt. Gox repayment event has significantly impacted BCH liquidity,” noted Kaixo Research. The liquidity issues reflect the broader market’s reaction to the repayment announcement.Mt. Gox, once the world’s top crypto exchange, handling over 70% of all Bitcoin transactions in its early years, was forced into bankruptcy in 2014 after a hack resulted in the loss of an estimated 740,000 Bitcoin.The announcement of repayments has added selling pressure on Bitcoin and the broader crypto market, with Bitcoin plunging to its lowest level in five months. This freefall led to over $580 million in bullish bets being liquidated.Exchanges approved by the trustee to process repayments include Bitbank, BitGo, Bitstamp, Kraken, and Japanese exchange SBI VC Trade. More

Upholding strict standards for listed assets is a top priority at Binance. Frequent evaluations guarantee that every digital asset keeps up with strict industry standards. Binance does a thorough review and may delist an asset if it no longer meets these standards or if the industry landscape changes. In order to accommodate changing market conditions and offer users the best services and protection, this procedure is essential.Delisting a digital asset is influenced by a number of factors. These factors include the development teams dedication to the project, the volume and caliber of development activity, trading volume and liquidity, network security and stability, the stability of smart contracts or the network, the degree of public communication, the responsiveness to requests for periodic due diligence, and other factors that directly affect the fundamental health of various assets or projects.BarnBridge (BOND), Dock (DOCK), Mdex (MDX) and Polkaster (POLS) are assets that will see their pairs being removed. As soon as trading is over, all trade orders will be automatically canceled. Delisting of the token will result in its valuation no longer being shown in wallets, and deposits made after July 23, 2024, will not be credited to user accounts.After October 22, 2024, withdrawals will not be accepted anymore. Furthermore, after October 23, 2024 users may convert their delisted tokens into stablecoins on their behalf; however, this conversion is not assured.In order to prevent potential losses, users of Binance Simple Earn Auto-Invest Binance Loans and Binance Margin are recommended to manage their positions and assets prior to the designated deadlines.This article was originally published on U.Today More

Halliday, the commerce automation network for modular chains, announces the public launch of its network. Backed by major investors, such as Hashed and Andreessen Horowitz, with over 26 partners already, the platform aims to bring its technology to a wide swath of companies and commerce applications. Halliday’s network addresses the fragmented user experience and technological gaps currently hindering blockchain-based payments, simplifying digital commerce across blockchain ecosystems and helping to bring the technology mainstream. Halliday’s network promises simplified processes for onboarding users to new modular chains, purchasing NFTs across multiple chains, and engaging in complex financial transactions. Integrated solutions for payment processing and cross-chain compatibility further enhance its appeal to developers and users.About HallidayHalliday is building the Commerce Automation Network to enable any developer to connect their modular chain to commerce. Halliday saves you thousands of engineering hours with a unified interface and architecture and grows your volume by empowering users to spend, manage, and transact with ease.About HashedHashed is a team of blockchain experts and builders based in Seoul, Singapore, Bengaluru, and the Silicon Valley. We believe that decentralization can transform not only the global economy but the very fabric of the internet. Our mission is to accelerate the mass adoption of blockchain by investing our resources and empowering a new wave of entrepreneurs and innovators to create this future. We participate as core technical contributors to global infrastructure, and we’ve built a network of projects and people that connect industry pioneers with the knowledge and resources necessary to unlock the potential of blockchain.ContactVP of Business DevelopmentGeorge AlafoginisGeorge@halliday.xyzThis article was originally published on Chainwire More