Cryptocurrency

Over the past 24 hours of trading, Injective (INJ) earned itself a spot on CoinMarketCap’s trending list after a price increase of more than 5% during this period. As a result, INJ was trading at just over $7, close to its daily high of $7.18.In addition to this, INJ succeeded in strengthening against the two market leaders, Bitcoin (BTC) and Ethereum (ETH) by about 6.26% and 5.80% respectively. The altcoin’s increase also succeeded in pushing its weekly performance even further into the green as, at press time, INJ was up 18.22% over the past seven days.Throughout the past day, INJ’s 24-hour trading volume saw an increase of more than 50%, and as a result it stood at $91,984,880 at press time. Its market cap of $562,948,699 meant that it was ranked as the 72nd biggest crypto in terms of market capitalization.4-hour chart for INJ/USDT (Source: TradingView)INJ’s price was able to flip the resistance level at $6.795 into support yesterday morning following a 3.43% move. At press time, its price continued to trade between this recently-flipped level and the next resistance level at $7.352. Furthermore, the altcoin’s price had the support of the 9 EMA line on the 4-hour chart.The RSI indicator on INJ’s chart suggested that the bullish move over the last 24 hours had lost momentum, as the RSI line had formed a peak and was negatively sloped towards oversold territory. Should there be a pullback in the crypto’s price, it will likely result in INJ’s price dropping to $6.791 in the next 24 hours.An early indication of the potential pullback will be when INJ’s price drops below the 9 EMA line. Conversely, the altcoin’s price remaining above the 9 EMA line for the duration of today’s trading session will invalidate the bearish thesis. This may lead to it climbing to $7.352 in the following 24-48 hours.Disclaimer: The views and opinions, as well as all the information shared in this price analysis, are published in good faith. Readers must do their own research and due diligence. Any action taken by the reader is strictly at their own risk. Coin Edition and its affiliates will not be held liable for any direct or indirect damage or loss.The post INJ May Drop to $6.791: Levels to Watch in the Next 24 Hours appeared first on Coin Edition.See original on CoinEdition More

Seychelles-based cryptocurrency exchange, OKX, recently announced that the company has scheduled to open the Ordinals deposits on May 20, 2023, at 7.00 am UTC. The platform added that it would list the ORDI/USD spot trading when the Ordinals deposits meet OKX’s requirements.On May 16, OKX launched Ordinals Marketplace, marking it to be the first multichain wallet to support BRC-20 trading. The introduction of the marketplace has been an outcome of the increasingly growing BRC-20 tokens, especially the novel memecoin Pepe.The platform shared a Twitter thread celebrating the launch of the Ordinals Marketplace, announcing:Today, the platform proclaimed the company’s enthusiasm for the listing of ORDI on its spot trading markets. OKX further briefed that though the total amount of Bitcoins is 21 million, each BTC could be divided into the smallest units called the satoshi. Thus the total amount of available satoshi would be 2100 trillion.OKX explained the inscription or the content written using the Ordinal protocol, on the satoshi. The platform narrated that the information would be inscribed in the form of NFTs and tokens, due to the limited size of satoshi.Wu Blockchain, the official Twitter page of the Chinese reported Collin Wu, commented on the significant surge in the price of ORDI, following OKX’s announcement:Collin Wu stated that the value of the first BRC-20 asset rose by “more than 24% in 1 hour”, adding that the price has reached around $15, with a market value of $310 million. At the press time, ORDI stands at a price of $15.22 with a 24-hour trading volume of $51,177,220 and a market cap of $324,487,207. The post ORDI Price Surges to $15 After OKX Announced ORDI Listing appeared first on Coin Edition.See original on CoinEdition More

Instagram’s plan to rival Twitter was uncovered by Lia Haberman, an influencer marketing and social media marketing teacher at the University of California, Los Angeles Extension. According to Haberman, although the text-based app is built on top of Instagram, it is decentralized and will function as a separate app. The app will also be compatible with other decentralized social media apps like Mastodon, allowing users to reach more audiences. Continue Reading on Coin Telegraph More

The user’s private keys are generated and stored within the device and are supposed to never leave it. This “cold storage” provides an unrivaled level of security compared with “hot wallets” or online wallets. The problem is that lots of people lose their keys.Continue Reading on Coin Telegraph More

Although withdrawals are currently impossible, the team stated that funds are “perfectly safe,” as the bug can be fixed after a governance vote.Continue Reading on Coin Telegraph More

Speaking to Cointelegraph’s U.S. News Editor, Sam Bourgi, at Bitcoin 2023, O’Prey described Bakkt as prioritizing its role as a “B2B2C” company for the past two years. As such, it has seen “a significant portion of the major institutional interest” focused on Bitcoin (BTC), in spite of the aftermath of the collapse of cryptocurrency exchange FTX. He said:Continue Reading on Coin Telegraph More

The collaboration will provide companies the ability to accept and pay bills with USDT (USDT), as well as pay a percentage of employee salaries with the stablecoin. The Central Market supplies over 12 million people per month and is home to over 500 wholesale companies, according to the city of Buenos Aires. It also employs over 2,000 people. Continue Reading on Coin Telegraph More

Incidents like the collapse of FTX in 2022 have raised awareness of the need for a secure way to store Ethereum and Ethereum tokens such as stablecoins, Lopp said:Continue Reading on Coin Telegraph More