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Dogecoin Price Analysis: 2 June

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The Dogecoin market has been an unexpected experience for traders. It began as a ‘meme’ but is now contending to be taken seriously as an altcoin.

This was visible in its performance lately. After GameStop and DOGE’s hyper-driven rallies, DOGE market saw more investors and the price of the digital asset has surged by over 6,000% year-to-date.

Dogecoin 12-hour chart

Source: DOGEUSD on TradingView

DOGE has been holding on to a high value, at the time of press and was trading at $0.4168. The market saw an unexpected surge, at a time when the rest of the crypto market was consolidating. Although there have been very few updates in the DOGE ecosystem, news of its listing on Coinbase may have caused this ripple effect.

However, this sudden surge may be followed by a phase of correction.

Reasoning

As DOGE consolidated between $0.29 and $0.36, volatility reduced significantly in the market. However, the recent surge has once again subjected DOGE to high volatility.

Stochastic RSI indicated that DOGE was already overbought and the indicator was noting a reversal. RSI was crossing under the signal line, which was a bearish sign and in the current market could be a sign of falling price. Meanwhile, Directional Movement Index was nothing that the bearishness had already crept in as the downwards pressure was on the rise.

Crucial levels

Entry-level: $0.4250
Take profit: $0.3688
Stop-level: $0.4504
Risk and Reward: 2.21

Conclusion

The current Dogecoin market was basking in the bullishness of the sudden surge in its market. However, this celebration could be short-lived as a correction loomed large for the coin. The DOGE price may take a U-turn as the volatility rises in the market and downward pressure evolves. This could push DOGE’s value to $0.45, where short traders can cut a profit.


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Source: https://ambcrypto.com/dogecoin-price-analysis-2-june

Blockchain

SEC chief Gensler now eyeing crypto staking and ‘poker chip’ stablecoins

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In recent weeks, the U.S. Securities and Exchange Commission [SEC] has brought several crypto companies into the regulatory spotlight. Coinbase was warned about its high-interest crypto-product Lend, with the SEC threatening to sue if it launched.

Unsiwap also felt the heat as it was reportedly investigated. Meanwhile, the SEC vs Ripple lawsuit saw the court denying Ripple’s request for documents revealing SEC’s trading policies on digital assets.

Even as these events unfolded, SEC Chair Gary Gensler spoke to Washington Post journalist David Ignatius about cryptocurrency and the SEC’s powers.

Cop on the beat

Gensler first stressed that crypto tokens were a “highly speculative asset class” and defended his dedication to investor and consumer protection. He admitted that the SEC had a broad definition of securities and that it gave the agency a “great deal of authority.”

Encouraging crypto trading platforms to come in for SEC registration, Gensler said,

“Now, not many have, and so I do really fear that we’ll keep bringing these enforcement cases, but there’s going to be a problem. There’s going to be a problem on lending platforms or trading platforms. And frankly, when that happens, I think a lot of people are going to get hurt.”

Gensler also voiced concerns about staking and added,

“We’ll also be the cop on the beat and bringing those enforcement actions, as well.”

Coming to stablecoins, Gensler used his familiar crypto-Wild West comparison and likened stablecoins to poker chips at the casino. He also explained that though the SEC had “robust authorities,” there were some gaps. He hinted the agency might work with the U.S. Congress to regulate stablecoins.

Notes on Evergrande

With liabilities worth around $300 billion, the crisis of Evergrande, China’s second largest property developer, has shocked the world market – and the crypto sector. Soon the Hong Kong-based, dollar-pegged stablecoin Tether [USDT] came under scrutiny. The company had to confirm that it did not hold commercial papers, debts, or securities issued by Evergrande.

Ignatius also asked Gensler whether Evergrande could affect the American market. Gensler just confirmed that Evergrande was not registered and did not trade on American capital markets.

However, he added,

“…it is possible, from time to time, that we too in America will react to other economies’ and nations’ shocks. And particularly China’s economy is so large relative to Europe’s or our own.”

In essence, the interview came with a familiar promise for crypto innovators and traders. Referring to warning signs and flashing lights signaling a spill in aisle three, Gensler said he would rather “get ahead of it.”

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Source: https://ambcrypto.com/sec-chief-gensler-now-eyeing-crypto-staking-and-poker-chip-stablecoins

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Robinhood to Launch Crypto Wallet in 2022

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The information on or accessed through this website is obtained from independent sources we believe to be accurate and reliable, but Decentral Media, Inc. makes no representation or warranty as to the timeliness, completeness, or accuracy of any information on or accessed through this website. Decentral Media, Inc. is not an investment advisor. We do not give personalized investment advice or other financial advice. The information on this website is subject to change without notice. Some or all of the information on this website may become outdated, or it may be or become incomplete or inaccurate. We may, but are not obligated to, update any outdated, incomplete, or inaccurate information.

You should never make an investment decision on an ICO, IEO, or other investment based on the information on this website, and you should never interpret or otherwise rely on any of the information on this website as investment advice. We strongly recommend that you consult a licensed investment advisor or other qualified financial professional if you are seeking investment advice on an ICO, IEO, or other investment. We do not accept compensation in any form for analyzing or reporting on any ICO, IEO, cryptocurrency, currency, tokenized sales, securities, or commodities.

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Source: https://cryptobriefing.com/robinhood-to-launch-crypto-wallet-in-2022/?utm_source=main_feed&utm_medium=rss

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Blockchain

Own NFT Land in ERTHA Metaverse that Could Generate Revenue

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[PRESS RELEASE – Please Read Disclaimer]

The last year or so has seen the massive growth of the non-fungible token space, which became arguably the most talked-about field in the cryptocurrency space. With celebrities from all industries trying to take advantage of the ongoing craze, NFTs have now become the place to be for protocols providing groundbreaking featured and services.

Some have taken their development stages further, attempting to garner a more significant market share. This is the case with ERTHA, whose metaverse has tapped one of the most legendary online games from the past two decades – Heroes of Might and Magic.

Its economic and social life, inspired by the aforementioned game, is built on the binance smart chain and aims to enable users to explore and investigate the space by choosing specializations and increasing the strength of the NFTs.

The project’s globe consists of 350,000 HEX land plots, all of which are represented as non-fungible tokens. Users owning a HEX land plot will have the chance to receive cash-back for every transaction completed with Ethereum (ETH) as a landowner. The game is specifically designed to replicate a real-life environment, simulating the actions that people would perform in order to earn a living and continue with their lives.

As mentioned above, ERTHA is designed to inspire economic and social growth, investigate the new online world, and push users to increase their engagement levels in the NFT space.

The project’s development process has been wildly comprehensive as it took Alpha more than 17,000 Code commits and over 30,000 hours of writing program code to provide the end-product.

The map of ERTHA is divided by NFT hexagons. This allows players to be free to choose where to live, study, work, and earn ETH tokens. Many companies and players also prefer paying taxes in the form of the second-largest cryptocurrency.

The project further promised that some internal developments, such as territorial disputes and international conflicts, can positively impact the prices of the NFTs.

ERTHA metaverse political influence and management of different territories are controlled with decentralized instruments, meaning smart contracts, through the financial epicenters in the game. Political influence introduces a number of advantages for NFT holders.

ERTHA also promised full decentralization for its land properties and non-fungible token attributes.

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Source: https://cryptopotato.com/own-nft-land-in-ertha-metaverse-that-could-generate-revenue/

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