Connect with us
[crypto-donation-box]

Blockchain

Tron, Algorand, Hedera Hashgraph Price Analysis: 10 April

Republished by Plato

Published

on

Tron’s breakout from an ascending triangle was limited at the $0.12 resistance. Algorand’s bearish technicals were tipped to outweigh bullish cues from the broader market, while Hedera Hashgraph was projected to trade sideways over the coming sessions.

Source: CoinStats

Meanwhile, Bitcoin was trading at $60,309 with a market capitalization of $1.1 trillion.

Tron [TRX]

Source: TRX/USD, TradingView

On the 4-hour timeframe, Tron saw a breakout from a descending channel, but resistance at $0.12 capped gains in the market. Since then, the price moved sideways and remained within a tight channel of $0.125-$0.114.

The RSI showed a bearish divergence as TRX reversed its trajectory after forming a local top at $0.149. At the time of writing, the RSI pointed north from 50 and indicated some bullish presence. The Awesome Oscillator registered a single green bar but more momentum needed to be gathered for an upswing. In the case of a northbound move, resistance levels reside at $0.125 and $0.132.

Algorand [ALGO]

Source: ALGO/USD, TradingView

Algorand’s region between $1.44 and $1.24 represented a fierce battle for control between the buyers and sellers. During late February, this region witnessed a breakdown but that was back when Bitcoin retraced from $58,000. With the current price of Bitcoin back above $60k, a breakout could soon take place in the opposite direction for ALGO.

A move above $1.44-resistance would likely boost the price towards the next ceiling at $1.599. However, a bearish divergence on the RSI worked against a favorable outcome. Lower highs were also observed on the MACD, and its histogram noted a decrease in bullish momentum. While the broader market did signal bullish cues, ALGO’s technicals were expected to take precedence with regards to its short-term trajectory.

Hedera Hashgraph [HBAR]

Source: HBAR/USD, TradingView

Bearish movement over the last 24 hours dragged HBAR lower on the charts but the bulls held on to $0.329 support. A dip below this level would highlight another region of surppot at $0.28 – an area that has seen buying on previous occasions.

An ADX reading of 19 certainly did not did favor the bulls. In fact, it pointed south and hinted at consolidation moving forward. The OBV’s trajectory also did not warrant an immediate breakout. When the price does move north, resistance can be expected at $0.403 and $0.437.


Sign Up For Our Newsletter


Coinsmart. Beste Bitcoin-Börse in Europa
Source: https://ambcrypto.com/tron-algorand-hedera-hashgraph-price-analysis-10-april

Blockchain

DOGE is Young People’s Middle Finger to the System, Says Mike Novogratz

Republished by Plato

Published

on

Mike Novogratz, in a research report, stated that Dogecoin is “the most honest shitcoin”, calling it a “store of value” for young people wishing to express a “little bit of a middle finger to the system”.

Dogecoin’s Recent Price Action

DOGE has entered a steep and stunning climb during the past few months, going from mere pennies to over $0.65. Young people betting on the speculative and volatile crypto asset have made staggering amounts of money thanks to the recent insane rate of return.

Many theorize that this rise has been fueled by Tesla founder and business mogul Elon Musk, who often refers to Dogecoin on his infamous Twitter profile, tweeting in a (usually) positive manner. Oftentimes when an “Elon tweet” comes out regarding Dogecoin, it gives a nice little boost to the price.

Most recently, Elon Musk revealed that he would be hosting SNL, dropping a single hint: Dogefather. This enigmatic message has spurred thousands of young people worldwide to invest in DOGE, which, although extremely risky, has been facing undeniably bullish price action as of late. Will Elon Musk’s SNL special provide the fuel needed for DOGE to power through to over a dollar, or will it be a ‘sell the news’ event?

Novogratz Draws Parallels to GME

Novogratz, in his interview, urged people to “listen to what Dogecoin is saying”, as he sees it as very comparable to the GameStop fiasco (where a group of young retail traders pushed GME to new heights, partially in an attempt to liquidate hedge funds that were shorting the stock).


ADVERTISEMENT

“There is nihilism and excitement to it,” Novogratz stated, adding, “there’s something really pure about it.”

Indeed, Dogecoin is not a successful ‘company’ in the traditional sense, and there is little to no innovative development work going on behind the scenes, but we’ve seen (in the stock market, for example) that the power of the masses if placed behind a single unifying idea, can work wonders.

It’s a massive game of tug of war — whether or not Dogecoin can sustain this dizzying momentum remains to be seen. One thing is for sure: millions of people will be tuning in to watch SNL this week.

SPECIAL OFFER (Sponsored)

Binance Futures 50 USDT FREE Voucher: Use this link to register & get 10% off fees and 50 USDT when trading 500 USDT (limited offer).

PrimeXBT Special Offer: Use this link to register & enter POTATO50 code to get 50% free bonus on any deposit up to 1 BTC.

You Might Also Like:


Coinsmart. Beste Bitcoin-Börse in Europa
Source: https://cryptopotato.com/doge-is-young-peoples-middle-finger-to-the-system-says-mike-novogratz/

Continue Reading

Blockchain

Bitcoin Cash price jumps 68%: Looming hard fork to boost BCH user base?

Republished by Plato

Published

on

Bitcoin Cash (BCH) burst back into the market capitalization top 10 rankings on Thursday after a 36% overnight surge compounded 68% growth for the week. The per coin valuation of BCH climbed from $1,068 to $1,462 in under 24 hours leading into May 6, adding to a notable increase from its weekly low in the $800 range.

The resurgence of what was once a mainstay of the top-10 lineup comes just over a week ahead of Bitcoin Cash’s scheduled bi-annual hard fork on May 15, which will introduce two small, but not insignificant tweaks to the network.

One sees the removal of Bitcoin Cash’s unconfirmed transaction chain limit, allowing for more micro-transactions to be broadcasted without having to wait for a block confirmation.

Blocks are mined every 10 minutes on Bitcoin Cash, and the old unconfirmed chain limit was capped at 50 transactions. This allowed for high-volume applications to make 50 near-instant transactions before requiring confirmation in a block. This cap will be removed entirely in the upcoming hard fork.

The other major change scheduled for May 15 will see the introduction of multiple “OP_RETURN” outputs. Put simply, the Bitcoin Cash blockchain currently allows for the insertion of miscellaneous data into a transaction, such as text, images and other data types. At present, only one “OP_RETURN” output can be included in a transaction, i.e., one image, text, etc. The upcoming network upgrade will allow for multiple pieces of miscellaneous data to be included in a single transaction.

Both changes feasibly open up Bitcoin Cash to higher volume usage, as well as making it more amenable to current and popular applications such as NFTs. Businesses and app developers stated they specifically wanted to see the changes introduced to expand the blockchain’s capabilities with nonfungible tokens in particular, as noted in the upgrade’s documentation.

Bitcoin Cash’s market price has been on the rise since the start of the year along with the rest of the cryptocurrency sphere. So too has its overall usage according to on-chain data from Bitinfocharts.

The number of daily Bitcoin Cash transactions rose from 20,000 in December to over 150,000 at the time of publication — a 650% increase. Between February and April, Bitcoin Cash regularly processed more transactions on a daily basis than Bitcoin (BTC), peaking at 414,000 to Bitcoin’s 229,000 on March 21.

However, the same data source shows less growth in the number of transactions coming from unique addresses, which only increased 25% from 40,000 to 50,000 — a figure one-fifth of that seen on Bitcoin.

Coinsmart. Beste Bitcoin-Börse in Europa
Source: https://cointelegraph.com/news/bitcoin-cash-price-jumps-68-looming-hard-fork-to-boost-bch-user-base

Continue Reading

Blockchain

Kazakhstan opens public consultation for central bank digital currency

Republished by Plato

Published

on

Kazakhstan’s central bank is planning to examine the potential benefits and risks of adopting a state-backed digital currency.

The National Bank of Kazakhstan, or NBRK, published Wednesday a report on a digital tenge pilot project and opened a public consultation on the potential central bank digital currency, or CBDC.

According to the report, the digital tenge would be a new form of money issued by the NBRK to enable the “further development of the national payment system and reduce reliance on cash settlement using unique technical features.” The bank emphasized that the CBDC is not intended to replace either cash or cashless payments, but would rather be an alternative used in parallel with existing payment solutions.

The NBRK noted that the digital tenge would improve competitiveness in the payment market, strengthen the stability of the financial system, as well as contribute to increasing public trust in state-backed payments. “The technology will meet the highest cybersecurity standards. […] The bank will pay special attention to consumer protection and the privacy of digital tenge users,” the NBRK stated.

The bank will first conduct a comprehensive study of benefits and risks related to a potential CBDC. In collaboration with financial market players and global partners, the NBRK also plans to define the digital tenge’s objectives, issuance and distribution methods, the applied technology, and the potential impact on monetary policy, financial stability and the payment ecosystem.

As previously reported, Kazakhstan authorities initially announced that the government started considering a national digital currency in July 2020 alongside plans to increase investment in cryptocurrency mining. Local officials subsequently pointed out the digital tenge’s potential to become a crucial tool in fighting corruption in Kazakhstan.

Coinsmart. Beste Bitcoin-Börse in Europa
Source: https://cointelegraph.com/news/kazakhstan-opens-public-consultation-for-central-bank-digital-currency

Continue Reading
Blockchain3 days ago

Mastercard adds 6 blockchain payments startups to accelerator program

Blockchain20 hours ago

Major Law Firm CMS Adds Stratis (STRAX) to its Legal Accelerator Program

Blockchain2 days ago

Starcoll To Issue Limited Edition Star Wars Collectibles as NFTs

Blockchain2 days ago

Pro traders buy the Bitcoin price dip while retail investors chase altcoins

Blockchain2 days ago

eBay could add a crypto payment option, says CEO

Blockchain3 days ago

S&P DJI Releases Bitcoin and Ethereum Indexes

Blockchain1 day ago

China’s Central Bank to Partner With Alibaba’s Ant Group on Digital Yuan

Blockchain2 days ago

Bitcoin Miners Moving Away from China, F2Pool Observes

Blockchain2 days ago

‘This ain’t no game’ as DOGE briefly flippens Nintendo and takes #4 spot from XRP

Blockchain3 days ago

Iranian companies can now pay for imports with officially mined cryptocurrencies.

Blockchain1 day ago

Here Is Why XRP Volume Has Recover Across Payment Corridors

Blockchain3 days ago

CBDCs Could Harm Bitcoin But BTC May Replace Gold as a Store of Value: Deutsche Bank

Blockchain2 days ago

S&P launches cryptocurrency indexes, debuting with Bitcoin and Ether

Blockchain2 days ago

The Reason for Ethereum’s Recent Rally to ATH According to Changpeng Zhao

Blockchain2 days ago

Singapore’s largest bank posts tenfold crypto volume growth in Q1 2021

Blockchain2 days ago

Bybit Launches Ether (ETH) Cloud Mining Service as Demand Booms

Blockchain3 days ago

Qredo raises $11M in seed funding to launch new cross-chain asset management infrastructure

Blockchain2 days ago

Another XRP lawsuit update: SEC accuses XRP Holders of ‘reciting’ Ripple’s litigation position

Blockchain2 days ago

eBay is Considering Adding Crypto Payments & NFT Sales

Blockchain2 days ago

Bitcoin and Ethereum Indices Debut on S&P Dow Jones

Trending