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Here’s How Bitcoin Millionaires Are Playing the Crypto Market: Santiment

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The largest holders of Bitcoin are taking advantage of the market downturn to increase the amounts of BTC that they own, according to blockchain analysis firm Santiment.

In a new tweet, Santiment reveals that the millionaire cohort, or wallets holding between 100 to 10,000 BTC, have massively increased the size of their Bitcoin investments in the last week of May.

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“Bitcoin is at $35,400 after another mild drop-off over the past day. But the key BTC millionaire bracket that we track has seen a mild uptick in holdings. Addresses with 100 to 10,000 BTC have accumulated approximately 30,000 more BTC this past week.”

The crypto insights firm adds that there appears to be “panic” among traders of Bitcoin, Ethereum (ETH), Cardano (ADA), Polkadot (DOT) and XRP, which could be a good sign for the crypto market.

“We see evidence of panic among crypto traders, and our weighted social sentiment data indicates that BTC, ETH, ADA, DOT, XRP and other top caps are showing crowd fear.”

Santiment’s findings are corroborated by crypto tracker site Bitinfocharts.com showing one of the largest Bitcoin addresses having accumulated Bitcoin over the last half of May after some heavy selling prior.

The fourth-largest wallet in existence sold a total of 3,000 BTC as the leading crypto asset traded above $55,000 on April 12th and April 14th. The whale resumed selling 6,000 BTC on May 7th and May 9th as the king crypto hovered around $55,000.

However, the whale bought has been actively buying BTC since May 15th. BitInfoCharts shows that the big-time crypto owner accumulated 9,961 BTC in the last two weeks.

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Disclaimer: Opinions expressed at The Daily Hodl are not investment advice. Investors should do their due diligence before making any high-risk investments in Bitcoin, cryptocurrency or digital assets. Please be advised that your transfers and trades are at your own risk, and any loses you may incur are your responsibility. The Daily Hodl does not recommend the buying or selling of any cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing.

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Source: https://dailyhodl.com/2021/06/02/heres-how-bitcoin-millionaires-are-playing-the-crypto-market-santiment/

Blockchain

Litecoin (LTC) Price Analysis: Recovery Possible Above $175

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  • Litecoin price declined heavily below $180 and tested $145 against the US Dollar.
  • LTC price is now trading below $170 and the 55 simple moving average (4-hours).
  • There is a major bearish trend line forming with resistance near $164 on the 4-hours chart of the LTC/USD pair (data feed from Coinbase).
  • The pair must move above the $175 resistance to start a decent recovery in the near term.

Litecoin price is recovering losses from $145 against the US Dollar, similar to bitcoin. LTC price could continue higher if it clears $165 and $175.

Litecoin Price Analysis

This past week, there was a major decline in bitcoin, ethereum, ripple, and litecoin against the US Dollar. LTC broke many supports near $180 to enter a bearish zone.

There was also a break below the $165 level and the 55 simple moving average (4-hours). It tested the $145 zone and recently corrected higher. It climbed the 23.6% Fib retracement level of the recent decline from the $195 swing high to $144 swing low.

However, it is still trading below $170 and the 55 simple moving average (4-hours). An immediate resistance is near the $162 level. There is also a major bearish trend line forming with resistance near $164 on the 4-hours chart of the LTC/USD pair.

The next key resistance could be $170. It is close to the 50% Fib retracement level of the recent decline from the $195 swing high to $144 swing low.

The main resistance could be near the $175 level and the 55 SMA. A close above the $170 and $175 levels could open the doors for a decent increase. In the stated case, the price could rise towards the $188 resistance in the near term.

On the downside, an immediate support is near the $155 level. If there is a downside break the $155 support level, the price could revisit $150. The next key support is near the $145 level, below which there is a risk of a move towards the $125 level.

Litecoin (LTC) Price

Litecoin (LTC) Price

Looking at the chart, litecoin price is clearly trading below $170 and the 55 simple moving average (4-hours). Overall, the price must move above the $175 resistance to start a decent recovery in the near term.

Technical indicators

4 hours MACD – The MACD for LTC/USD is now gaining pace in the bullish zone.

4 hours RSI (Relative Strength Index) – The RSI for LTC/USD is still below the 50 level.

Key Support Levels – $155 and $145

Key Resistance Levels – $165 and $175.

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Source: https://www.livebitcoinnews.com/litecoin-ltc-price-analysis-recovery-possible-above-175/>

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Blockchain

Cardano to Make “Industry Defining” Announcements At Upcoming Summit

Cardano Summit Announcements

Rate this post The team behind Cardano blockchain has promised “industry-defining” announcements at its upcoming summit —  which is due to take place on September 25-26. Cardano Will Make “Industry Defining” Announcements At Upcoming Summit Cardano is promising “industry-defining” announcements for the potential attendees of its Cardano 2021 Summit — a hybrid event being organized across six destinations in Africa, Europe, and the US. The summit will feature both in-person and online events, which will combine the experience of a traditional conference with virtual worlds. Additionally, online participants will have the opportunity to leverage social and interactive tools used previously by the likes of Google.  “Don’t really want to brag or anything but…some of the partnerships we’re announcing at the [Cardano Summit] will blow people’s minds. Really grateful for the chances we at [Cardano Stiftung] have to change the world for the better and have fun together. Tune in,” Cardano Foundation’s Head of Brand and Communications Sidney Vollmer tweeted last week. Cardano Summit is expected to feature several industry experts, top developers, and specialists working with blockchain technologies. Many of them will address important subjects such as the future of national currencies and art in the age of crypto and NFTs.  Recently, Cardano’s founder Charles Hoskinson reflected on the network’s journey and the significance of the upcoming summit. He noted: “The Cardano summit 2021 follows the launch of smart contract capabilities on Cardano, and a remarkable six years of intensive development and peer-reviewed academic research to create a third-generation blockchain platform which is not only eco-friendly but provably secure.” Alonzo Upgrade Represents “a Huge Leap Forwards”: Hoskinson The Cardano Summit has come on the heels of a major upgrade in the network, which introduced smart contracts capabilities to it.  In Hoskinson’s view, the Alonzo upgrade is a “huge leap forward in terms of bringing price stability to the smart contract network as well as addressing the present energy issues.” He expects the feature to enable “hundreds of groundbreaking innovations” on Cardano that will extend beyond the field of blockchain. Notably, Alonzo’s implementation hasn’t been entirely smooth. Earlier this month, decentralized exchange MiniSwap had to suspend its operations on the network due to “concurrency issues.” Meanwhile, three notable DeFi platforms Sundaeswap, Maladex, and OccamFi reported that they have found a workaround solution to the issue. 

The post Cardano to Make “Industry Defining” Announcements At Upcoming Summit appeared first on Cryptoknowmics-Crypto News and Media Platform.

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The team behind Cardano blockchain has promised “industry-defining” announcements at its upcoming summit which is due to take place on September 25-26.

Cardano Will Make “Industry Defining” Announcements At Upcoming Summit

Cardano is promising “industry-defining” announcements for the potential attendees of its Cardano 2021 Summit — a hybrid event being organized across six destinations in Africa, Europe, and the US.

The summit will feature both in-person and online events, which will combine the experience of a traditional conference with virtual worlds. Additionally, online participants will have the opportunity to leverage social and interactive tools used previously by the likes of Google. 

“Don’t really want to brag or anything but…some of the partnerships we’re announcing at the [Cardano Summit] will blow people’s minds. Really grateful for the chances we at [Cardano Stiftung] have to change the world for the better and have fun together. Tune in,” Cardano Foundation’s Head of Brand and Communications Sidney Vollmer tweeted last week.

Cardano Summit is expected to feature several industry experts, top developers, and specialists working with blockchain technologies. Many of them will address important subjects such as the future of national currencies and art in the age of crypto and NFTs

Recently, Cardano’s founder Charles Hoskinson reflected on the network’s journey and the significance of the upcoming summit. He noted:

“The Cardano summit 2021 follows the launch of smart contract capabilities on Cardano, and a remarkable six years of intensive development and peer-reviewed academic research to create a third-generation blockchain platform which is not only eco-friendly but provably secure.”

Alonzo Upgrade Represents “a Huge Leap Forwards”: Hoskinson

The Cardano Summit has come on the heels of a major upgrade in the network, which introduced smart contracts capabilities to it. 

In Hoskinson’s view, the Alonzo upgrade is a “huge leap forward in terms of bringing price stability to the smart contract network as well as addressing the present energy issues.” He expects the feature to enable “hundreds of groundbreaking innovations” on Cardano that will extend beyond the field of blockchain.

Notably, Alonzo’s implementation hasn’t been entirely smooth. Earlier this month, decentralized exchange MiniSwap had to suspend its operations on the network due to “concurrency issues.” Meanwhile, three notable DeFi platforms Sundaeswap, Maladex, and OccamFi reported that they have found a workaround solution to the issue. 

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Source: https://www.cryptoknowmics.com/news/cardano-to-make-industry-defining-announcements-at-upcoming-summit/

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Blockchain

Ripple Partners with Bhutan’s Central Bank, XRP Jumps

The Bank will use the CBDC solution of Ripple to pilot a central bank digital currency in phases.

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Ripple, one of the world’s leading blockchain firms, recently announced a collaboration with the Royal Monetary Authority (RMA), the central bank of Bhutan. According to the partnership, the central bank will use Ripple’s CBDC solution to enhance financial inclusion and sustainability. Following the recent announcement, the price of XRP jumped significantly.

Bhutan is planning to expand its digital and cross-border payments infrastructure through Ripple’s innovative technology. The country will use Ripple’s solution to pilot a central bank digital currency in different phases. The CBDC solution of Ripple leverages a private version of the public, open-source XRP Ledger (XRPL).

Since the start of 2021, the adoption of XRP Ledger has increased substantially. The company’s CBDC solution is energy efficient. Ripple also highlighted that its central bank digital currency solution is extremely cost-effective and reliable.

“The RMA believes that easier, faster, and more affordable payments, both domestically and internationally, will help it reach its goal of increasing financial inclusion by 85% by 2023. The power of the technology underlying the XRP Ledger, combined with Ripple’s experience in cross-border payments and tokenization, will harness the tremendous speed, cost, and innovation advantages in support of this mission,” Ripple mentioned in the latest announcement.

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In May 2021, Dubai’s Lulu Exchange and the National Bank of Egypt partnered through RippleNet for the smooth execution of cross-border payments from the United Arab Emirates (UAE) to Egypt.

Ripple’s Announcement and XRP

As a result of the recent announcement from Ripple, the price of XRP jumped by more than 10% in the last 24 hours. XRP is now trading above $1 with a market cap of over $47 billion. XRP is the world’s 6th largest cryptocurrency. Last week, the overall market cap of XRP jumped above the total value of Solana (SOL).

Historically, Ripple’s partnership announcements had a positive impact on the price of XRP. In August 2021, the cryptocurrency crossed the market cap of $40 billion after GME’s RippleNet announcement.

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Source: https://www.financemagnates.com/cryptocurrency/news/ripple-partners-with-bhutans-central-bank-xrp-jumps/

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