Cryptocurrency

The wallet in question originally got its 8,000 BTC on December 6, 2018, when it was worth about $3,810 per coin. Since then, the value of the Bitcoin in this wallet has gone up by over 14 times, which is about $505.44 million.Traditionally, when lots of cryptocurrency is moved to exchanges, it often means that whales are planning to sell it, which puts downward pressure on prices. These big moves are watched closely because they can have a big impact on how big players feel about the market and how prices change.The reactivation of dormant whale wallets, especially those holding substantial amounts of Bitcoin, is typically considered a negative indicator for the cryptocurrency market. These whales possess the power to influence market prices due to the volume of their holdings. When these long-inactive wallets spring to life, it can create uncertainty and fear among investors, who may anticipate large-scale sell-offs that could lead to similar price declines.This latest transfer to Binance has already caused a bit of a ripple effect across the market, with the Bitcoin price falling by almost 4% today to $66,800.This article was originally published on U.Today More

British IKAR Holdings and Swiss – Japanese Unify Platform AG announced today at a press conference in Tokyo, Japan, the establishment of the world’s first Crypto Space Bank!Under the brand “Crypto Space Bank” both partners have initiated a groundbreaking project that redefines how cryptocurrencies are stored and transacted beyond Earth. By deploying a compact cube satellite, they are introducing a revolutionary banking service that houses cryptocurrencies in the cosmic realm.The innovation heralded by the “Crypto Space Bank” transcends conventional financial paradigms, merging digital assets with the vast expanse of outer space. This groundbreaking initiative promises a fusion of technological prowess and financial security like never before witnessed.At the heart of this visionary project is a commitment to redefining the storage, transaction, and security of cryptocurrencies. The “Crypto Space Bank” not only provides a secure haven for digital currencies but also offers seamless and borderless crypto financial services.By harnessing the boundless capabilities of space technology, the “Crypto Space Bank” sets a new standard in safeguarding and facilitating cryptocurrency operations on a global scale.IKAR Holdings is a leading entrepreneurial group of companies based in the UK, active across various sectors, ranging from education, technology, energy, health, sports, real estate, hospitality, aviation, to construction and services. The group has a current portfolio of more than 40 companies. With a focus on long-term growth and innovation, IKAR Holdings is committed to driving value and fostering sustainable development.About Unify Platform Token (UPT)Unify Platform Token (UPT) is a versatile cryptocurrency designed to enhance user engagement with decentralized platforms. UPT offers a wide range of applications and benefits, making it a valuable asset in the evolving digital economy.About UNIPLATUNIPLAT is an online platform that promotes the SDGs advocated by the United Nations, supports researchers, entrepreneurs, and corporations, and connects them with supporters worldwide. UNIPLAT provides a system that fairly and globally evaluates and supports research and activities that were previously impossible to realize due to geographical and regional limitations. Participants come from more than 140 countries.ContactPR ManagerMichael BertIKAR HOLDINGSpress@ikarholdings.comhttp://www.ikarholdings.comThis article was originally published on Chainwire More

GBM Auctions has announced the completion of the first charity Bid-to-Earn auction for the Polkadot ecosystem. The event, which was hosted on the Moonbeam Network, raised over $92,000 for charity and showcased the GBM’s novel bidding mechanism.On May 16, GBM Auctions commenced the week-long auctions that saw three unique Polkadot-related items offered to the public: physical copies of the Ethereum Yellow (OTC:YELLQ) Paper, the Polkadot White Paper, and the JAM Gray Paper, each signed and annotated by Dr. Gavin Wood. Bidders used the native Moonbeam token GLMR for bidding, with funds from the event going to the Ukraine Humanitarian Appeal charity. The auction utilized Moonbeam’s scalable architecture, which supports fast bidding and low gas fees. In the process, it demonstrated the versatility of the unique auction format pioneered by GBM Auctions.With a Bid-to-Earn auction, every bidder earns an incentive in the event of being outbid. This provides incentives for greater bidding volume, helping to raise more funds for the project in question. In the process, it ensures that all participants make something from the sale, including the bidders who are eventually outbid.Hugo McDonaugh, co-founder of GBM Auctions, shared his thoughts on the success of the auctions:“We are delighted with the outcome of the auctions and they surpassed all our expectations. The auction results prove just how powerful our GBM Bid-To-Earn system is.”The Ethereum Yellow Paper ultimately sold for a top bid of 193,600 GLMR, the Polkadot White Paper for 116,160 GLMR, and the JAM Gray Paper for 60,000 GLMR. In addition to raising $92,000 for charity, the Moonbeam-hosted auction saw the bidders who were outbid collect $12,000 in rewards. The formula has the potential to support a wide range of use cases within the Polkadot ecosystem and the wider blockchain space.Dr. Gavin Wood, the co-founder of Ethereum and creator of Polkadot, shared his thoughts on the auctions: ​​”I’m proud to have helped raise money for such a humanitarian charity and it’s great to see it happen on Polkadot’s Moonbeam network.”GBM’s Bid-to-Earn design makes use of smart contracts to provide a transparent and provably fair bidding system. It incentivizes participation while making it easier for the public to bid for items whose fair value may be hard to determine in advance. Through allowing participants to start low and enter increasingly higher bids, the system ensures that a fair value is eventually reached while fairly distributing revenue to underbidders.Since developing its Bid-to-Earn system in 2018, GBM Auctions has hosted over 70,000 auctions, earning bidders more than $6M in the process. The auction model has been used by leading crypto figures such as Vitalik Buterin and Dr. Gavin Wood to raise money for charity. It has also been harnessed by web3 projects such as Aavegotchi and Unstoppable Domains to distribute NFTs to their communities.As well as hosting Bid-to-Earn auctions via a dApp, GBM’s system can also be used on secondary marketplaces which enables web3 projects to sell digital assets in a fair manner that eliminates unscrupulous bidding practices while allowing the whole community to participate in a rewarding and engaging experience.About GBM AuctionsGBM Auctions is the developer of the world’s first Bid-to-Earn auction system. Using web3 technology including smart contracts, it ensures that bidders can make money even when they are outbid. With lifetime volume of over $200M and over $6M earned by bidders, GBM Auctions provides a fair and transparent bidding system for blockchain communities.Users can learn more: https://www.gbm.auction/ContactHead of MarketingJake ScottGBM Auctionsjake@gbm.auctionThis article was originally published on Chainwire More

After hitting this milestone the chart shows that Bitcoin saw a significant decline. Selling pressure has suddenly increased, which could indicate that investors are taking profits following the recent rally. As a result, traders may be concerned as BTC is finding it difficult to hold its position above important support levels. Bitcoin is currently trading just above its 50-day EMA at about $68,000. The next support level, which is located around the 200 EMA, may be tested if the price is unable to hold this level of support. Bearish divergence is also visible on the RSI, suggesting that the momentum may be waning. Overall the long-term trend for Bitcoin is still positive despite this setback. Perhaps the market was just correcting itself before the next leg up, which is why the recent decline was so beneficial. Investors should continue to exercise caution though and keep an eye out for any new indications of weakness in price action.As it remains stable at $150 and lines up with the 100 EMA, the chart demonstrates Solana’s resilience. This suggests a level of strong support that may serve as a springboard for further gains. Solana has succeeded in keeping a more stable trading range, in contrast to many other cryptocurrencies that are seeing considerable volatility. In spite of the recent market decline, Solana’s price action is still bullish when analyzing the long-term trend. The fact that the asset has managed to hold above the 100 EMA shows that the bulls are still in charge. A more neutral outlook is also offered by the RSI, which indicates that there is potential for upward movement without becoming overbought. Traders’ interest is consistent even though the trading volume is lower than it was at previous peaks. The notion that Solana might be preparing for a comeback is supported by the volume’s consistency, particularly if the mood of the market as a whole improves. Shiba Inu has failed to hold the 100 EMA support level and has opened below it during this trading session. The fact that the price of the meme token is moving below this moving average raises substantial concerns and may be a negative signal for investors. The next support level for the asset is not far away but is located below a crucial resistance level.The RSI is currently in the vicinity of the oversold area, suggesting that the selling pressure might continue. Nevertheless, if buyers intervene to take advantage of the lower prices, the oversold situation could also create the chance for a brief rebound. The volume profile indicates a decline. It may be difficult for SHIB to mount a significant recovery in the near future since lower volume in a downtrend usually signals waning buying interest. The decreasing volume adds credence to the meme token’s pessimistic forecast. The next significant support, which is located around the 200 EMA, might be tested in less than a week if the current selling pressure persists.This article was originally published on U.Today More

However, despite these purchases, Ethereum’s price is struggling amid corrections that have hit the crypto market in general.According to data from the analysis platform Spot On Chain, 11 out of the 12 cryptocurrency wallets withdrew about 13,059 Ethereum. Notably, one of the wallets – 0xdfa, withdrew a slightly higher amount, 13,084 Ethereum.Meanwhile, the supply of Ethereum on cryptocurrency exchanges has significantly decreased, reaching its lowest level in seven years, as reported by blockchain data from Glassnode. Lark Davis, an experienced crypto investor, highlighted this trend.”The supply of Ethereum on exchanges is at its lowest level in 7 years, and as a result, the price of Ethereum could rise significantly.”At the same time, the crypto community is abuzz with the recent approval from the U.S. Securities and Exchange Commission (SEC) for Ethereum ETFs. This development is a crucial advancement for the cryptocurrency market, opening the door for significant potential investments, reflecting the early success seen with Bitcoin ETFs.Meanwhile, prominent crypto researcher Bobby Banzai predicts monthly inflows of $569 million into Ethereum ETFs. His predictions are based on the performance of international ETFs and futures data from the Chicago Mercantile Exchange.Despite these positive developments and market optimism, the immediate impact on Ethereum’s price has been unfavorable. Following these large purchases, Ethereum’s price has dropped by 4.91% in the last 24 hours and is currently trading around $3,494.18. Spot On Chain attributed this to the possibility that the transactions from new wallets could be part of over-the-counter (OTC) deals, which do not directly affect the market price. The data analysis platform’s forecast indicates cautious short-term expectations for Ethereum, predicting a potential 7% correction from the current market price.Nevertheless, Ethereum faced challenges this Tuesday, with the digital currency market undergoing a price correction. If this downward trend continues, Ethereum’s next support level could be at $3,302.In the last 24 hours, Bitcoin has dropped by about 3%, BNB has fallen around 7%, and Solana has decreased by approximately 7%. More

The indicator, which was created by Tom DeMark, finds trend exhaustion points by examining a sequence of pricing bars. There are two phases to the indicator: the setup phase and the countdown phase. Nine price bars in a row, each closing higher (in a downtrend) or lower (in an uptrend), are needed for the setup phase. The countdown phase, which follows if this setup is successful, searches for a string of 13 bars that close lower (in a downtrend) or higher (in an uptrend) than the two bars that came before. When a countdown is finished, it usually indicates that the trend has reached its limit and that a reversal is about to occur. The TD Sequential has flashed a buy signal on the hourly Bitcoin chart, potentially predicting a price reversal. A short-term break from the current downward trend may be provided by this signal, which points to a possible price increase over the next one to four hourly candlesticks. The price of Bitcoin has recently dropped for a number of reasons. First, liquidation clusters have been a major factor. A cascading effect has been seen in the price decline due to large sell-offs and forced liquidations of leveraged positions. The downward pressure was exacerbated by large clusters of liquidations that sit at $72,000-$69,000 and $66,000. Furthermore, departures from U.S. Bitcoin ETFs have contributed to the price action of BTC we are seeing now. These ETFs experienced a net outflow of $64 million on a recent Monday, breaking a 19-day run of inflows. The price of Bitcoin has been further pressured by this change in investor sentiment from one of accumulation to selling.This article was originally published on U.Today More

First the liquidation heatmap data shows notable sell-offs that have aided in the decrease in the price of Bitcoin. The graph shows that the $72,000, $69,000 and $66,000 levels saw significant clusters of liquidations. These liquidations show strong selling pressure because the price was forced lower by the forced closure of leveraged positions. The recent price action of Bitcoin shows that this cascading effect from liquidations frequently results in a swift and steep decline. Second, the departure from the U.S. ETFs that track Bitcoin have been very important. After 19 days of inflows, these ETFs saw a net outflow of $64.93 million on Monday. This is noteworthy because it shows that investors are moving away from accumulation and toward profit-taking or taking less risk. Grayscale’s GBTC had the highest outflow, totaling $40 million, followed by Invesco Galaxy Digital’s BTCO, Valkyrie’s Bitcoin ETF and Fidelity’s FBTC. The money that has been taken out of Bitcoin ETFs indicates a decline in institutional interest, despite the relatively low volume of outflows.Third, the dynamics of the market show a general decline in enthusiasm. Though recent outflows suggest a shift, there has been a 19-day streak of net inflows totaling over $4 billion, bringing the total net inflow for spot Bitcoin ETFs since January to $15 billion. The overall trend has turned negative even though the only funds to record net inflows of $6 million and $8 million, respectively, were Bitwise’s BITB and BlackRock (NYSE:BLK)’s IBIT. This shift in sentiment is probably the result of profit-taking following an extended period of positive inflows, not only among institutional investors.This article was originally published on U.Today More

Web3 infrastructure provider SubQuery Network has announced the launch of two new RPCs for the Polkadot ecosystem. Available for Polkadot and Kusama, they are the first decentralized RPCs to be made available on the Substrate-based networks.SubQuery provides web3 infrastructure for almost 200 networks. The SubQuery Network is a globally distributed network of decentralized indexers and RPC (NYSE:RES) providers. These allow dapps to access fast and reliable blockchain data on demand without introducing centralized points of control. Teams building on Polkadot and Kusama can now utilize SubQuery’s decentralized RPC (Remote Procedure Call) nodes following their deployment.SubQuery COO James Bayly said: “We are thrilled to be the first to provide decentralized RPCs for Polkadot on the SubQuery Network. Our node operators are already running RPCs and other nodes in multiple ecosystems, and, having emerged from the Polkadot ecosystem, we’re ideally placed to support Polkadot developers with their infrastructure.”The Polkadot RPCs that have been deployed for the Polkadot relay chain and Kusama are operated by more than 30 independent Node Operators. The provision of decentralized RPCs is integral to enabling blockchain projects to operate efficiently and draw data from multiple sources.RPCs are pivotal for communication between blockchain nodes and external entities, facilitating data retrieval, smart contract interactions, and transaction submissions. The availability of decentralized RPCs frees dapps from reliance on centralized middleware with the risks this entails. SubQuery Network’s decentralized RPCs facilitate secure and efficient web3 communication. This capability underpins the robust and transparent operations that are essential for the success of DePINs. SubQuery started out within the Polkadot ecosystem, releasing an indexer capable of connecting to its unique multi-chain architecture. It’s since expanded to incorporate hundreds of networks, making it a leading indexer of web3 data based on chain support.About SubQuerySubQuery has pioneered fast, flexible, and scalable infrastructure to power web3. SubQuery Network provides indexed data to the global community in an incentivized and verifiable way. Its infrastructure plays a critical part in helping web3 transition to an open, efficient and user-centric future.Learn more: Official Website | TwitterContactHead of Business DevelopmentMarta Adamczykstart@SubQuery.NetworkThis article was originally published on Chainwire More