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Ontology, Stellar Lumens, VeChain Price Analysis: 07 September

Bitcoin, the world’s largest cryptocurrency, was trading at $10,147, at the time of writing, while Ethereum climbed as high as $361 before falling again. Stellar Lumens showed no change in its bearish

The post Ontology, Stellar Lumens, VeChain Price Analysis: 07 September appeared first on AMBCrypto.

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Bitcoin, the world’s largest cryptocurrency, was trading at $10,147, at the time of writing, while Ethereum climbed as high as $361 before falling again. Stellar Lumens showed no change in its bearish outlook, however, and could drop even further. Ontology’s charts suggested that it might be in a consolidation phase after the drop from $0.95 to $0.60. Finally, VeChain continued to descend towards its own support levels.

Stellar Lumens [XLM]

Stellar Lumens, Ontology, VeChain Price Analysis: 7 September

Source: XLM/USD on TradingView

The Aroon indicator showed that the downtrend for Stellar Lumens continued to remain strong. Further, the Aroon Down (blue) had not crossed beneath the Aroon Up (orange) in the past few days. Such a crossover could highlight a halt or reversal in the prevailing market trend.

Further, on the price charts, XLM’s price failed to register any higher highs, despite a recent bounce.

For the cryptocurrency, the next level of support lay at $0.063, at press time.

Ontology [ONT]

Stellar Lumens, Ontology, VeChain Price Analysis: 7 September

Source: ONT/USDT on TradingView

Ontology was trading above its support level at $0.6, with the next level of resistance observed to be at $0.72, at the time of writing.

The mouth of the Bollinger Bands was beginning to tighten, and if this were to remain the case, ONT’s consolidation above its support level could be in jeopardy.

ONT’s below average trading volume for the past few sessions has also reinforced the idea that consolidation might happen, with selling pressure cooling too.

The developers of Ontology recently announced that ONT and ONG, tokens of the Ontology blockchain, can be swapped for eONT and eONG on the Ethereum blockchain.

VeChain [VET]

Stellar Lumens, Ontology, VeChain Price Analysis: 7 September

source: VET/USDT on TradingView

VeChain struggled to break past its 50 SMA (white) over the past few days. This moving average has acted as both support and resistance in the past and would continue to serve in the same capacity in the near-term.

The OBV showed that the selling volume in the market was rising. The white trendline highlighted that the OBV indicator would need to be swept before VET can target any upside resistance levels.

In other news, VeChain CEO Sunny Lu recently presented a six-phase model for the adoption of VeChain at the Shanghai British Chamber of Commerce last week, in a bid to inform its members about the benefits of blockchain in commercial applications.

Source: https://eng.ambcrypto.com/ontology-stellar-lumens-vechain-price-analysis-07-september

Blockchain

Facebook’s Diem Unveils Its Latest Stablecoin Plans and Strategic Move to the United States

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Diem, the cryptocurrency project headed by Facebook originally known as Libra, recently announced its plans to launch a stablecoin with its focus scaled back to the United States. 

The company stated earlier this year that it would be relocating its primary operations from Switzerland back to the United States, and would withdraw its payment system license application from Switzerland’s financial regulators. “Diem is simplifying its plans for [its] USD stablecoin issuance by shifting its main operations from Switzerland to the United States,” they said.

This decision was later confirmed by the Swiss Financial Market Supervisory Authority. 

Stablecoins are digital currencies pegged to a fiat currency, with Tether (USDT) and USD Coin (USDC) being two prominent examples. California-based Silvergate Bank will become the sole issuer of the Diem USD, while also managing its dollar reserves. 

Diem to Launch Wholly New Subsidiary Diem Networks US Alongside Crypto Bank Silvergate

In a strategic partnership, the two firms have created a new subsidiary called Diem Networks US — which will run the Diem Payment Network (DPN) to facilitate transactions of Diem stablecoins within its network. 

“Silvergate is a leader in financial innovation and an ideal partner for Diem as we move forward with a blockchain-based payment system that protects consumers and enhances the integrity of the financial system,” said Stuart Levey, chief executive officer of Diem.

“We are committed to a payment system that is safe for consumers and businesses, makes payments faster and cheaper, and takes advantage of blockchain technology to bring the benefits of the financial system to more people around the world. We look forward to working with Silvergate to realize this shared vision.” 

Diem’s strategic shift to the United States comes at a time of a rapidly evolving regulatory environment for cryptocurrencies and blockchain technology. 

Some municipalities and states such as Miami and Wisconsin have embraced the recent innovation, whereas regulators such as the newly-appointed SEC Chair Gary Gensler have critiqued the autonomy of the crypto industry. 

With crypto ETFs and related financial products under intense scrutiny by the SEC, it remains to be seen whether Diem’s decision to relocate back to the United States will bear any fruit.

Featured image from ShutterStock

Coinsmart. Beste Bitcoin-Börse in Europa
Source: https://bitcoinist.com/facebooks-diem-unveils-its-latest-stablecoin-plans-and-strategic-move-to-the-united-states/?utm_source=rss&utm_medium=rss&utm_campaign=facebooks-diem-unveils-its-latest-stablecoin-plans-and-strategic-move-to-the-united-states

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Blockchain

Crypto Research Firm Delphi Digital Launches Latest NFT Fund

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Delphi Digital, a New York-based crypto research and venture firm, recently launched its latest on-chain fund to invest in non-fungible token (NFT) projects. 

The fund, referred to as Delphi InfiNFT, is based on decentralized finance (DeFi) investing protocol Syndicate. “It will enable automation of deposits, cap table, distributions, fund management, reporting, etc.” said Anil Lulla, co-founder of Delphi Digital. 

“NFT’s are changing digital ownership rights, as well as how creators are interacting with their communities. Along with the growth of the NFT space, there is supporting infrastructure that needs to be built alongside it. The goal of this fund is to find the protocols that are moving the NFT space forward and building the infrastructure that is needed.”

Delphi Digital has partnered with NFT investor Gmoney for its NFT fund, who famously purchased a CryptoPunk NFT for a record price of 140 Ethereum worth approximately $180,000 at the time. Gmoney and Delphi will co-manage the fund together. 

According to their website, the fund will look to create an investment portfolio consisting of 20 protocols through InfiNFT. “We plan to deploy at least 80% of the fund’s capital in the first 6 – 9 months as we find protocols that fit with our thesis,” the team report read. 

“We will identify and select leading NFT networks through our networks and communities. We’ll be working directly with the teams we invest in to help them become a core piece of the NFT ecosystem long-term.

Delphi’s InfiNFT is backed by IDEO CoLab Ventures, Divergence Ventures, Axie Infinity, Compound Finance, and Fractional, among others. 

The recent steep Ethereum selloff led to massive losses in market cap across the NFT markets. According to NFT Valuations, Cryptopunks’ total market valuation dropped $600 million this past week — representing over a 66% loss. In spite of the recent volatility, investors like Delphi Digital appear to be confident in the long-term prospects of the non-fungible token space.

Ethereum (ETH/USD), alongside the broader crypto market, suffered week-long losses following the news of Tesla cutting its Bitcoin payments. At press time, Ethereum is down 9.3% in the past week. Source: Tradingview.com
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Coinsmart. Beste Bitcoin-Börse in Europa
Source: https://bitcoinist.com/crypto-research-firm-delphi-digital-launches-latest-nft-fund/?utm_source=rss&utm_medium=rss&utm_campaign=crypto-research-firm-delphi-digital-launches-latest-nft-fund

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Blockchain

Cardano, Uniswap, Chainlink Price Analysis: 16 May

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Cardano introduced some target levels at $2.53 and $2.69 via the Fibonacci Extension tool. Uniswap needed to garner bullish strength for a break above $43-$45 resistance. Lastly, a descending triangle breakdown on Chainlink could see a 7.5% retracement towards its 50-SMA

Cardano [ADA]

Source: ADA/USD, TradingView

If buyers were looking to make profits on large-cap alts during the recent turbulent broader market, Cardano was a must inclusion in every portfolio. Weekly gains of 36% were the highest among the top 10 coins by market cap and underlined ADA’s independence from broader market sentiment. Fibonacci Extension tool was used to identify potential target points for the current rally. The 372.2% and $361.8% extension levels stood at  $2.53 and $2.69, respectively. With buying pressure still on the rise according to Awesome Oscillator, ADA made a strong case for an extended rally.

In case of pullbacks, these extension levels can also act as support lines. RSI’s overbought territory indicated the need for stabilization and a dip in volumes could mean some southbound action. Nevertheless, key factors could allow ADA to sustain higher levels moving forward.

Uniswap [UNI]

Source: UNI/USD, TradingView

A descending triangle breakdown showed losses of 8% from the bottom trendline, but buyers stepped in at $35.6-support. In fact, this support has been under the spotlight during recent dips and only reinforced the area as a buffer against extended losses. On the 4-hour timeframe, OBV’s sharp fall was an interesting development which explained why bulls have failed to topple $43-$45 resistance. Considering the dearth of constant buying pressure, Uniswap could trade between $44.4 and $35.6 over the coming days.

A breakout above $44.4 on high volumes would result in a bullish trend but the market was not yet ready for such a swing. Awesome Oscillator’s wavy trajectory suggested that neither side had been fully able to assert dominance.

Chainlink [LINK]

Source: LINK/USD, TradingView

While Chainlink did see losses over the last 24 hours, the bulls held on to $41.2-support – an important development. A descending triangle was prominent on the daily timeframe and a breakdown could see a sell-off between $35.7-39.1. Those hoping to trade on a breakdown can observe the 4-hour timeframe for more sensitive price action.

Awesome Oscillator registered a series of red bars as selling momentum dragged  LINK from a high of $61.9 to a low of $39.7 during the present downtrend. MACD also confirmed a bearish presence in the market. To negate LINK’s pattern, buyers would need to target a rise above $45.6-resistance.


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Coinsmart. Beste Bitcoin-Börse in Europa
Source: https://ambcrypto.com/cardano-uniswap-chainlink-price-analysis-16-may

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