Cryptocurrency

The market showed a surge in open interest, which is generally a sign of bullish behavior. Bulls seemed to be pushing the price of Ethereum upward, especially after its recent surge. However, this move appears to have been premature. The asset failed to establish any serious support levels, which are crucial for maintaining upward momentum.Source: The lack of strong support levels has made Ethereum vulnerable to a sharp reversal, which is what we are witnessing now. The asset had no cushion to fall back on, leading to a devastating plunge. This situation serves as a cautionary tale for traders to not solely rely on open interest as an indicator of bullish behavior. It is essential to consider other factors like support levels, volume and market sentiment before making investment decisions.The most plausible explanation for Solana’s stability is the lack of bearish selling pressure. While other assets have been subjected to massive sell-offs, Solana has managed to move sideways, indicating that bears have been effectively sidelined.This lack of bearish activity is particularly noteworthy given the asset’s recent performance. Solana has been one of the standout of the year, and its ability to withstand market pressures suggests a strong underlying asset and community support.The absence of a significant price drop on Solana could also be attributed to its increasing dominance over Ethereum in some use cases, which has likely contributed to its resilience. The asset has been gaining traction for its lower transaction fees and faster processing times, making it an attractive alternative to Ethereum for certain applications.Price analysis indicates that Solana is holding its ground well. The asset has not shown any significant downward movement, and the trading volume suggests that there is still interest in holding rather than selling. This could be a strong signal for potential investors looking for assets that can withstand market volatility.The Relative Strength Index (RSI) is nearing the overbought zone, indicating that the asset might be overvalued in the short term. This could lead to a potential pullback if the bulls fail to sustain the upward momentum. Additionally, trading volumes have not been particularly strong, further suggesting that the bulls are losing their grip on the market.The ascending trend that has been following recently is not gaining any substantial ground for growth. This lack of momentum is a concerning sign for those hoping for a bullish trend continuation. If ADA fails to break above the 50 EMA resistance level convincingly, we could see a reversal that might push the asset back to its local lows.Given current market conditions, traders and investors should exercise caution and closely monitor ADA’s price action around the 50 EMA level. A decisive break above or below this point could set the tone for ADA’s price trajectory in the coming weeks.This article was originally published on U.Today More

En el boletín de esta semana, septiembre se convirtió en el mes con más exploits relacionados con criptomonedas en DeFi, con más de USD 300 millones en pérdidas, y el popular protocolo de préstamos DeFi, Yield, anunció su cierre permanente para diciembre.El cofundador de Polygon, Jaynti Kanani, se ha apartado de sus roles diarios en la empresa, diciendo que ahora observará desde la distancia, y las organizaciones autónomas descentralizadas (DAOs) pueden ayudar a los científicos a encontrar financiamiento y comunidad, según una prestigiosa revista científica.Lea el artículo completo en Cointelegraph More

Cointelegraph se reunió con Danilo Carlucci, fundador de la empresa de inversión Morningstar Ventures y de 37xDubai, con sede en el Centro Financiero Internacional de Dubai (DIFC). Carlucci habló de sus objetivos con la nueva galería de arte y de por qué se sumerge en las NFT y Web3 a pesar de las condiciones de los mercados actuales.
Primer vistazo al lugar donde se expondrán los NFT en la galería 37xDubai. Fuente: 37xDubaiCarlucci dice que la galería es “un esfuerzo por unir arte y tecnología en un mismo lugar”. Siendo un fondo de capital riesgo más tradicional, el ejecutivo dijo que la galería de arte es la forma que tiene Morningstar Venture de diversificarse en el espacio más creativo del arte digital y los NFT. Dijo:Lea el artículo completo en Cointelegraph More

Índice de precio diario de Solana, en USD. Fuente: TradingViewEl tribunal de quiebras ha tomado medidas para asegurarse de que la liquidación de los activos de FTX no se convierta en una carga para el mercado de criptomonedas, exigiendo que la venta se realice a través de un asesor de inversiones en lotes semanales de acuerdo con reglas preestablecidas.Después del impacto inicial, que llevó el precio de SOL a un mínimo de dos meses de USD 17.34 el 11 de septiembre, surgió cierto grado de confianza entre los alcistas cuando se restableció el soporte de USD 20 el 29 de septiembre. Este movimiento coincidió con una actualización exitosa a la versión 1.16, que impulsó SOL en un 16% durante los siguientes siete días.Lea el artículo completo en Cointelegraph More

Uno de los aspectos más interesantes y debatidos sobre la IA es su impacto en los precios y los valores de mercado. ¿Cómo afectará la IA a la oferta y la demanda de bienes y servicios? ¿Cómo influirá en el poder adquisitivo de los consumidores y en el nivel general de precios? ¿Cómo reaccionarán los mercados financieros ante el avance de la IA?Lea el artículo completo en Cointelegraph More

The company’s business model offers two passive income opportunities: staking of $BTCMTX coins yielding an annual return of 1,193%, and mining returns proportional to token contribution. To attract more users, Bitcoin Minetrix also hosts a $30,000 Minedrop draw. Several crypto influencers such as Crypto Gains, Cilinix, Melos Crypto, Zach Humphries, Michael Wrubel, and Austin Hilton have endorsed Bitcoin Minetrix on their YouTube channels.A key feature of the platform is its focus on decentralization to mitigate the risk of a 51% attack and address issues of excessive mining centralization. The Stake-to-Mine system and Bitcoin’s hash rate are integral to its operation and potential profitability.In related news on Friday, an article offered comprehensive guidelines for buying Bitcoin with a credit card in 2023. The process involves choosing a reputable cryptocurrency exchange, understanding exchange fees and limits, setting up a secure cryptocurrency wallet, ensuring credit card eligibility for international transactions, and recognizing the significant role of credit cards in payments.The article also provided reviews of top exchanges like Coinbase (NASDAQ:COIN), Kraken, eToro, Gemini, and Crypto.com based on user interface, fees, and supported cryptocurrencies. It emphasized safety measures such as two-factor authentication (2FA), hardware wallets for added security, and regular password updates. Additionally, it covered transaction fees associated with credit card purchases, tips for successful transactions, and guidance on what to do after buying Bitcoin.This article was generated with the support of AI and reviewed by an editor. For more information see our T&C. More

If the community approves, the Flow (FLOW) ecosystem could soon support Ethereum-based decentralized applications (dapps). The proposal was published by Dieter Shirley, Dapper Labs co-founder and Lead Architect at Flow, who explained that no code changes would be required to make full Ethereum Virtual Machine (EVM) equivalence on Flow. Developers could wrap external transactions in Cadence, a smart contract programming language for the Flow blockchain, using the so-called “gateway” software. If Flow opens its infrastructure for Ethereum-compatible virtual machines, blockchain developers could bridge not only ERC-20 tokens between the networks but also non-fungible tokens (NFTs) deployed on the ERC-721 standard. However, some “tricky aspects” still need to be resolved, including EVM gas fees mapping on Cadence. At the time of writing, the post has only received 12 likes, with no responses or deadlines on the proposal. Flow is a permissionless layer-1 blockchain on the proof-of-stake consensus protocol developed by Dapper Labs and launched in 2020. The project raised $18 million on CoinList across the community sale and auction from nearly 13,000 participants.This article was originally published on Crypto.news More

Paradigm and a number of venture capital firms, including Sequoia, Temasek and BlackRock (NYSE:BLK), were burned by their funding of the now-bankrupt crypto exchange, with all facing scrutiny — and subsequently issuing statements — on their investment in FTX.Continue Reading on Coin Telegraph More