- Ethereum has rebounded from its overnight lows, but it’s slightly underperforming the benchmark cryptocurrency at the moment
- Bitcoin is now plowing past $35,000, with bulls picking up steam as they look to reverse the recent downtrend
- There’s a strong possibility that the market’s next trend will depend largely on whether or not BTC can navigate towards $40,000 without seeing a strong rejection
- This could set the tone for where major altcoins like Ethereum trend as well, as they have generally been tracking Bitcoin’s overall price action as of late
- One trader is noting that Ethereum is showing some signs of strength at the moment, but he is also noting that $1,140 is a key level for it to close above
Ethereum has seen some mixed price action as of late, with buyers and sellers unable to grasp firm control over its trend as it trades within the lower-$1,000 region.
The selling pressure it has faced as of late has come about due to that seen by Bitcoin, which could mean that BTC’s ongoing uptrend will also lead ETH to extend its ongoing rebound.
One trader is noting that the key level to watch in the near-term sits at $1,140. A sustained bout of trading below here could be a grim sign for the cryptocurrency’s outlook.
Ethereum Rebounds as Bulls Take Control of Crypto Market
At the time of writing, Ethereum is trading up just over 2% at its current price of $1,075. This marks a notable surge from its recent lows of $990 set just a few days ago.
Where the market trends in the mid-term should depend largely on whether or not Bitcoin can break $35,000 and begin moving towards $40,000.
For ETH, flipping $1,100 will be vital for it to see continued momentum in the days ahead.
Analyst: ETH Must Flip $1,140 to Support for Bulls to Take Control
Ethereum isn’t out of the woods yet, as one analyst is noting that it still needs to clear one key level before it can see further upside.
He points to $1,140 as this key level, noting that where the crypto trends next will likely depend entirely on whether it can post a high time frame close above here.
“ETH: Breaking back down after the short term surge. Nice bounce at $980 and looking for this move back up. Want to see a close back above $1140 before I feel good about buying more for long term spot position.”
Image Courtesy of Josh Rager. Source: ETHUSD on TradingView.
The coming few days should offer investors better insight into where Ethereum and the entire market will trend in the weeks to come.
Featured image from Unsplash. Charts from TradingView.
YES YOU CAN PLAY AND WIN REAL MONEY USING DOGECOIN TO PLAY POKER, SLOTS & MORE AT ONLINE CASINOS
Yes you can play 3D slots, Poker, Blackjack, Roullette and win real money including huge jackpots with Dogecoin and withdraw winnings instantly in cryptocurrency or fiat playing at the top online Bitcoin & Cryptocurrency Casinos. Register & play for real money in minutes.
Dogecoin began as a bit of a joke inspired by an Internet meme. Yet, the cryptocurrency soon began to grow both in terms of net value and market capitalisation. Prone to sudden mood-swings in value, Dogecoin is no different than most other cryptocurrencies out there. Yet, it’s one of the best-known cryptocurrency gambling tokens and is accepted at over 20 trusted and recognised crypto casinos.
Many games today are available directly with the token, and you can find Dogecoin casino games that allow you to bet with DOGE directly. You can expect to find a number of Dogecoin casinos offering a variety of games, such as Dogecoin roulette, poker, dice, and more. Allow me to begin with the first and most important step, finding a great Dogecoin casino.
What Is Dogecoin?
Dogecoin is a cryptocurrency that was created on 6 December, 2013, by former Adobe and IBM software engineers Billy Markus and Jackson Palmer. Designed to be a user-friendly, decentralised crypto with lower transaction fees than Bitcoin, it’s currently on the 33rd place on the CoinMarketCap, with a total market cap of $1,119,173,132.
By using the Shiba Inu dog breed as the crypto’s logo, the creators turned the image into a pop culture phenomenon that became known as the doge meme. Despite its comedic aspect, however, we can assure you the coin is anything but a joke!
How to Use Dogecoin
Using Dogecoin is pretty straightforward. You can either trade the crypto’s token DOGE on exchanges for other crypto, store it in a Doge wallet for future spending, or hold it as an investment. However, most people use it as a currency to fund gambling accounts or pay for goods and services online. While it’s not as popular as bitcoin casinos, you’ll still find plenty of choice to gamble with dogecoin.
What Are Dogecoins?
You can use Dogecoins in peer-to-peer transactions on the decentralised Doge network. Initially, the creators aimed for a fixed number of 100 billion Dogecoins as a circulating supply, but nowadays, there’s no hard cap set, meaning new coins can still be mined. This decision was made in order to keep the price of the tokens low, making Dogecoin great for small transactions in particular, which is why it’s used predominantly as a tipping service.
Dogecoin Casino Slots
If you’re new to betting with cryptocurrency, you should know that most crypto casinos will allow you access to the same real money slots as a regular online casino, with a few added perks such as bonuses paid in Doge (if you deposited in Doge), or no wagering free spins.
Most Dogecoin casinos allow you to play completely anonymously and enjoy anything from classic slots to 3D games and progressive jackpots. Another perk is that the vast majority of Dogecoin casinos also offer free spins at slots as part of their welcome package.
Slots found at Dogecoin casinos, as well as other types of games, usually provide fair certified notifications that comes with the use of blockchain technology. This way, you can have peace of mind knowing that your transactions are verified and your odds are completely random and not being tampered with by any third parties.
Doge casinos also work with quality software providers. Those that we researched offer products by Microgaming, along with Endorphina slots and titles from NetEnt and Novomatic.
If you’re looking for to play blackjack with Dogecoin, the great news is that most crypto casinos will allow you to deposit and cash out in Doge when playing your favourite card game online. Some casinos also offer certain incentives to players for Doge blackjack, such as VIP limits for high rollers, or a lower house edge. You can also play both regular and live dealer blackjack.
Our top pick is FortuneJack, who currently offer 43 blackjack variations that range from single deck to multihand, American, and double exposure, as well as 3 live blackjack options from Evolution Gaming. All of their games are also provably fair.
Many Dogecoin casinos offer both video poker options such as Oasis, Caribbean Hold’em, and Triple Edge, and a dedicated live poker section where you can play against a live dealer in real time.
Depending on the casino you choose, you should be aware that most have different maximum Dogecoin deposit limits. So if you’re a high roller, you may want to look for another casino that accepts a different cryptocurrency, or one that accommodates high rollers.
However, if you regularly play with smaller sums, using Dogecoin allows you to place bets quickly during live poker games like Three Card Poker or Live Casino Hold’em. Always check the deposit limits and betting range before registering.
Other Dogecoin Games
Other popular Doge games in the casino community include Doge dice, sports betting, minesweeper, plinko, lottery, and Doge roulette.
Because dice is the first choice for most players, you can find many variations at Doge casinos, from craps to sic bo, most of which are provably fair and have very low house edge. For example, Crypto Games offers a house edge of only 1% for all crypto dice games. The same applies to Doge roulette, where the house edge is typically around 2.7%.
Bonuses at Dogecoin Casinos
Dogecoin casinos offer pretty much the same bonuses you can find at other casinos, with the exception that most pay out in Doge or BTC instead of fiat currencies.
New partnership sees DeFi and NFTs come to Cardano (ADA)
Recent announcements culminated in ADA hitting an all-time high yesterday, at $1.69. Despite that, as critics often point out, Cardano doesn’t have smart contracts, yet.
Nonetheless, developments are occurring in the background readying to capitalize when the time is right. This week, Occam, in conjunction with Bondly, gave us a glimpse of what’s to come. They announced a strategic partnership to bring NFTs and DeFi to Cardano.
“Together, the two blockchain leaders will explore development synergies within the growing NFT market for Cardano, a proof-of-stake blockchain platform, to enhance DeFi capabilities and bring high-quality projects through the OccamRazer launchpad and the Bondly Launchpad.”
Occam and Bondly team up
At present, Cardano holders are only able to access staking services. Without smart contract capabilities, DeFi and NFTs are simply not available.
You will soon be able to participate in our #Uniswap Liquidity Mining initiative. Read all about it, including a guide on how to get started, in our latest article. https://t.co/X4JYVR0eOR #DeFi #Cardano #LiquidityMining
— OccamFi (@OccamFi) May 4, 2021
IOG CEO Charles Hoskinson gave August as a soft deadline for a full smart contract rollout. As we approach that date, developers are beginning to announce details of their smart contract offerings on the Cardano chain.
Commenting on the tie in with Bondly, Mark Berger, President of the Occam Association, said:
“Bondly has emerged as an NFT leader and together, we believed our partnership, and by extension the Cardano ecosystem, is a natural fit. Together, we will pursue opportunities to incubate NFT startups and bring high-quality projects across our respective launchpad infrastructure.”
Bondly’s mission is to make DeFi more accessible to everyday users by building trust through its decentralized escrow service and marketplace.
Launched on Polkadot last September, Bondly has gone on to carve out a solid reputation as an NFT specialist. Bondly also offers a range of other services, including swaps, a DEX, and as previously mentioned, an escrow service.
Bondly CEO Brandon Smith said he’s looking forward to working with Occam to realize the untapped potential locked within the Cardano ecosystem.
Cardano smart contracts are close to the testnet phase
The Goguen smart contract era is close to completion but requires the rollout of the Alonzo protocol before that can happen.
During the Cardano360 event in late March, Hoskinson gave a rundown of the steps needed before Alonzo goes live to the general public.
The Alonzo update has already been integrated into the ledger and node code. While “alpha partners” have completed their testing.
Commercial partner Emurgo released a post last week confirmed the next stage of Plutus pioneers stress testing the network is currently underway.
With that, if all goes well, we can expect news of the Alonzo testnet launch very soon.
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Iran Bans Trading Of Foreign-Mined Cryptocurrencies
According to a news report by Iran International, the Central Bank of Iran (CBI) has banned its citizens from trading bitcoin and other cryptocurrencies mined in foreign countries.
Regulators Have Issued Thousands Of Licenses For Mining
According to a tweet from news organization Iran International, Iran’s Central Bank announced a Cabinet decision on Wednesday requiring that digital currencies exchanged in the country be mined or “extracted” there as well, prohibiting the exchange of digital assets mined elsewhere.
While several analysts have noted that enforcing the ban would be nearly impossible, Fatemeh Fannizadeh, a Swiss qualified independent lawyer and advisor on blockchain technology and cryptocurrencies, has speculated that the ban could be targeted specifically at banks and forex companies that use cryptocurrency to pay for imports:
I don’t think it will be enforced on an individual level. Exchange platforms can basically not operate. But instead of a blanket ban, it allows banks! and forex offices to use Iranian crypto for international transfers. Iran is not connected to the SWIFT network…
— Meh (@Fatalmeh) May 6, 2021
She believes this move by the CBI is an attempt to stop capital flight from Iran.
“Crypto is already regulated in Iran … this just means that Iran wants to export Iranian produced coins more aggressively, encourage mining, and counter capital flight in the face of a depreciating Rial,” Fannizadeh added.
The rial, Iran’s fiat currency, has experienced severe depreciation recently, hitting a record low against the dollar in 2020. Therefore, it seems reasonable that the CBI would act with protectionism on its currency and economy from a monetary standpoint.
Related article | Five Reasons Why Governments Won’t Ban Bitcoin And Can’t Stop Crypto
The Iranian Central Bank ratified regulations in late April that will enable banks and other financial institutions to use cryptocurrency to pay for imports. Institutions can buy crypto from state-licensed mining operations under that system. This new rule appears to be designed to ensure that only crypto mined from licensed farms is used for imports.
Over a thousand licenses for crypto mining facilities have been issued by regulators since 2019, including a 6,000-rig farm owned by a Turkish company.
The new laws could be part of a broader sanctions policy that has been in the works for years. Since 2018, the Iranian research institute Majlis Research Center has urged the country to use cryptocurrency to avoid debilitating economic sanctions, writing in one study that digital assets could be used for foreign trade:
“According to experts, one way to avoid the adverse effects of the unjust sanctions is to use cryptocurrencies for foreign trade.”
Good For Iran, Good For Bitcoin
In comparison to every other nation on the planet, Iran has a special relationship with bitcoin and bitcoin mining in particular. The availability of subsidized electricity would potentially make it an ideal location for BTC mining, but local authorities have offered a patchwork of regulations that promote and discourage the activity. Iran has recently attempted to regulate the bitcoin mining industry by requiring mining operations to be officially licensed before allowing miners to use the bitcoin produced to pay for imports. Bitcoin and other cryptocurrencies can be effective resources for Iran to get around foreign economic sanctions.
Given the decentralized and uncensorable nature of Bitcoin, it’s unclear how the central bank can implement these restrictions. The ban doesn’t seem enforceable yet.
Related article | Domino Effect: Is India The Start Of Weaker Governments Banning Bitcoin?
Featured image from Pixabay, Charts from TradingView.com
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