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Top Crypto Gainers on September 8th – EGLD 25%, ZEC 12%, RUNE 7%

price chart sept

Elrond is presently riding a strong bull market, leading on with around 25% gain on our 24-hour top gainer’s list. Amid this diminishing alt season occurrence, Bitcoin slumped to unexpected lows, just before the end of last week. While trying to hold the $10,000 support level, the top cryptocurrency has now gained about 2% in …

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Elrond is presently riding a strong bull market, leading on with around 25% gain on our 24-hour top gainer’s list. Amid this diminishing alt season occurrence, Bitcoin slumped to unexpected lows, just before the end of last week.

While trying to hold the $10,000 support level, the top cryptocurrency has now gained about 2% in the last 24 hours, jumping towards $10,250. Ethereum on the other hand is seen to mirror the effect also with around 3% within the same time frame. Ethereum has now settled around the $235 level as more upside is expected.

Below is the list of the crypto markets top performers of the last 24 hours. Some more than others, all featured cryptocurrencies sure left investors with loads of surprises and expectations.

#1. Elrond (EGLD 25% Gain):

elrond-charts

Elrond takes the top spot on today’s list with an impressive 25% gain in the last 24 hours. 

The coin’s market attitude is altogether bullish with 90% of market respondents voting for a bullish run as the trading day stretches into maturity.

EGLD’s price history comprises majority of the lower time frames. On the 24 hours metric, as we already know, the coin gained over 25% and is also positive in the 1-hour timeframe with around 3% gain.

EGLD is currently trading at $14.98 amid a 24-hour market capitalization of $204 million. Within several exchanges, more than $15.2 million EGLD was exchanged in the last 24 hours. 

Technical Points

  • Next key resistance level at $15.0
  • Immediate level of major support lies at $13.0
  • Market bias is generally an uptrend.

#2. Zcash (ZEC 13% Gain):

zcash-charts

For the first time this week, Zcash joins our list of top gainers. The top cryptocurrency is second on this list having gained around 13% within the last 24 hours. 

The coin’s market position is quite positive as traders tend to create long positions in the hope of future gains. 81% of traders are bullish on ZEC. 

Zcash is undergoing some community disruption and has advised node operators to perform a version upgrade to the latest available. This may be part of the reasons for a short term bullish sentiment. 

Within the last year, ZEC is up 33% but also lost 32% in the last one month. The coin is currently trading at $62.64 with market cap stabilizing at $624 million. 

Technical Points

  • General market bias is an uptrend
  • Next support level at $60.0
  • Next key resistance level at $64.0

#3. ThorChain (RUNE 7% Gain):

thorchain-charts

Rune is third on this list with a minor gain of around 7% within the last day.

The top gainer has a reasonable market sentiment as around 80% of traders are going long on RUNE.

In the one year timeline, RUNE gained 3,839% and has gained throughout many other timeframes. In the last month, the coin records 11.2% gain and counting to date.

RUNE is currently changing hands at $0.73 as its market capitalization hovers around $154 million.

Technical Points

  • The next level of major resistance fibs at $0.76
  • Immediate support level at $0.72
  • The general market bias is an uptrend

Source: https://coinpedia.org/price-analysis/egld-zec-rune-price-rally/

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Southeast Asia’s first Bitcoin fund launches to meet local institutional demand

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The Malaysia-based BCMG Genesis Bitcoin Fund-I, or BGBF-I, has officially launched, claiming to have become the first insured institutional crypto product available in the Southeast Asian region.

An announcement states the fund launched in response to a growing demand for institutional crypto products in Southeast Asia. The fund leverages an Artificial Intelligence (AI) powered blockchain-based platform provided by Calfin Global Crypto Exchang, which purports to offer increased security for customer holdings.

BGBF-I is regulated in Labuan, Malaysia, where IBH Investment Bank serves as the fund’s main advisor. Professional financial services provider, Hong Kong-based Alpha Calibration, will provide regulatory compliance services, and be audited by HLB Hodgson.

The investment vehicle also offers insurance coverage and underwriting for Public Offering Security Insurance.Fund Manager, Subbu Vempati explained:

“BGBF-I is a secure, insured and regulated platform where investors can get exposure to the Digital Assets industry. Investors get to benefit from our expertise in the financial, technical, and security aspects of Bitcoin investments, as well as enter this class with a peace of mind without any challenges or risk in directly handling the Digital Asset.”

According to its official website, the BGBF-I Fund projects a minimum return of 12% per year, while noting that BTC itself has gained 266.5% over the past 12 months.

All accredited Asian investors must go through mandatory Anti-Money Laundering (AML) and Know Your Customer (KYC) screenings to access the fund.

The Bitcoin fund is one of many that have been recently launched to address growing institutional appetites BTC and other digital assets. In mid-February, the first physically settled North American Bitcoin ETF was approved in Canada. Grayscale’s Bitcoin Trust also continues to grow, with its assets under management recently tagging $39.8 billion.

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Source: https://cointelegraph.com/news/southeast-asia-s-first-bitcoin-fund-launches-to-meet-local-institutional-demand

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Former DC comic book artist fetches $1.85M auctioning Wonder Woman NFTs

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José Delbo, an artist who illustrated the comic book series Wonder Woman during the late 1970s, has made $1.85 million in an auction selling non-fungible tokens, or NFTs, depicting the popular heroine.

The 87-year-old Argentian, who also worked on Batman, Transformers, and The Beatles‘ Yellow Submarine comic book, collaborated with Milan-based crypto art duo Hackatao to produce the NFT drop, dubbed “Heroines.”

In total, 914 individual NFTs were auctioned, with the tokens each featuring one of seven illustrations or animated gifs depicting Wonder Woman in scenes invoking themes relating to the empowerment of women.

The tokens auctioned included two one-of-a-kind editions, four “open limited editions— where an unlimited amount of NFTs can be minted only while the auction is ongoing, and one edition for which no more than 10 copies could be sold.

The most expensive piece sold was “Heroines – Weight of the World,” an animated gif that illustrates Wonder Woman holding the world against a backdrop invoking themes of empowerment. The bidder “888” got their hands on the piece for a total of 88.888 Ether, worth approximately $136,000.

Screenshot of ‘Heroines – Weight of the World’

The open edition, “Heroines – Stand Out” , spanned 10 copies in total, with two being reserved for the artists, seven given away to raffle winners. The last remaining copy was auctioned for 15 Ether, or roughly $23,000. All proceeds from the sale were donated to Girls Who Code, an organization that works to closi the gender gap in the tech industry.

Heroines – Shine Bright” was the highest performing open limited edition, with a total of 151 copies selling for a combined total of $450,000.

José Delbo illustrated the Wonder Woman comics between 1976-1981 and is no stranger to the crypto world, holding a week-long exhibition of his comic book art in the Ethereum-based virtual reality world Decentraland during July 2020.

Comic book characters are increasing in popularity in the crypto art markets, with Marvel officially launching a Spiderman NFT that sold for $25,000 in February of this year.

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Source: https://cointelegraph.com/news/former-dc-comic-book-artist-fetches-1-85m-auctioning-wonder-woman-nfts

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TA: Bitcoin Rallies above $52K, Why BTC Could Soon Hit $55K

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Bitcoin price rallied over 5% and it even broke the $52,000 resistance against the US Dollar. BTC is now above $53,000 and it is likely to continue higher towards $54,500 and $55,000.

  • Bitcoin extended its rise above the $51,500 and $52,000 resistance levels.
  • The price is now trading well above $52,000 and the 100 hourly simple moving average.
  • There was a break above a key resistance trend line at $52,800 on the hourly chart of the BTC/USD pair (data feed from Kraken).
  • The pair could correct a few points, but it is likely to find support near $52,800 and $52,000.

Bitcoin Price Extends Increase

Yesterday, we saw a fresh increase in bitcoin above the $50,000 resistance zone. BTC remained in a bullish zone and it was able to extend gains above $52,000 after a short-term downside correction.

The bulls gained strength, resulting in a strong push above $52,000. There was also a break above a key resistance trend line at $52,800 on the hourly chart of the BTC/USD pair. The pair cleared the 76.4% Fib retracement level of the key decline from the $52,748 swing high to $46,350 swing low.

Bitcoin is now trading well above $52,000 and the 100 hourly simple moving average. The price is trading nicely above the $53,000 level and it is likely to continue higher.

Bitcoin

Source: BTCUSD on TradingView.com

An immediate resistance is near the $54,000 level. The first key resistance is near the $54,250 level. It is close to the 1.236 Fib extension level of the key decline from the $52,748 swing high to $46,350 swing low. The next major resistance for the bulls is near the $55,000 level. Any more gains could lead the price towards the $58,000 resistance zone and the all-time high.

Dips Supported in BTC?

If bitcoin starts a downside correction, it is likely to remain well bid above $52,000. An initial support on the downside is near the $53,000 level.

The first key support is near the $52,700 level and the broken trend line. Any more downsides might call for a test of the main $52,000 support zone in the coming sessions.

Technical indicators:

Hourly MACD – The MACD is now gaining momentum in the bullish zone.

Hourly RSI (Relative Strength Index) – The RSI for BTC/USD is now well above the 60 level.

Major Support Levels – $53,000, followed by $52,700.

Major Resistance Levels – $54,000, $54,250 and $55,000.

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Source: https://www.newsbtc.com/analysis/btc/bitcoin-btc-could-soon-hit-55k/

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