Author: Crypto News Live

In his latest technical analysis, veteran crypto analyst Christopher Inks offers a detailed look at the current Bitcoin market structure through a comprehensive chart analysis. The chart, recently shared on X, shows Bitcoin’s price movements alongside several key technical indicators and levels that could signal a potential reversal from its bearish trend. The analyst illustrates Bitcoin’s price action with daily candlesticks over the past few months, pinpointing significant support (S1, S2) and resistance (R1, R2) levels. As of press time, Bitcoin traded at around the $63,000 mark, encapsulated by two descending trend lines which represent a bearish market structure. Bitcoin…

Runes protocol has lost its original momentum three weeks after launching on the Bitcoin blockchain. The novel fungible token standard has dropped in many ways, including network activity, after dominating the cryptocurrency sector shortly after the last Bitcoin halving in April 2024. The Runes protocol generated $135 million in fees in its first week after the bitcoin halving, but activity has dropped dramatically since then, with May 10 being the lowest day for activity and only two times in the last twelve days generating over $1 million in fees.… — Wu Blockchain (@WuBlockchain) May 12, 2024 Recallably, Bitcoin fees skyrocketed…

Bitcoin was up by more than 3% in the last 24 hours.  Technical indicators hinted at a continued price uptick.  After a week-long price decline, Bitcoin [BTC] finally gained bullish momentum as its value went above the $62k mark. Though the recent uptick looked optimistic, the latest data suggested that short-term holders were still at a loss. Does this mean investors will continue to hold BTC? Short-term holders selling Bitcoin Bitcoin bulls finally stepped in as the coin’s daily chart turned green. According to CoinMarketCap, BTC’s price had risen by nearly 3% in the last 24 hours. At the time…

Illuvium Overview Illuvium Price Change 24h -2.62% Illuvium Price Change 7d -3.91% Illuvium Market cap $360,934,940.88 Illuvium All time high $2,868.95 Illuvium All time low $29.77 Illuvium Price Prediction 7d $276.07 +229.24 Illuvium Fear-Greed Index 53 Neutral Illuvium Volatility 8.14% Illuvium Green Days 11/30 (37%) Our real-time ILV to USD price update shows the current Illuvium price as $83.85 USD. Our most recent Illuvium price forecast indicates that its value will increase by 12.65% and reach $94.46 by May 13, 2024. Our technical indicators signal about the Bearish Bullish 15% market sentiment on Illuvium, while the Fear & Greed Index…

Nimble Network, a prominent decentralized artificial intelligence orchestration layer, has recently begun a new partnership. According to the company, it has joined forces with TARS Protocol, an AI-powered scalable modular infrastructure forum for Web3, to enable matchless Web3 integration. The platform took to X to announce the latest development. 🎉Excited to announce Nimble’s latest partnership with @tarsprotocol! Together, @Nimble_Network and TARS Protocol join forces to pave the way for seamless integration into Web3, accelerating Web3 adoption with AI-powered solutions, and leveraging advanced AI technologies. pic.twitter.com/31AxkqFnHy — Nimble Network (@Nimble_Network) May 11, 2024 Nimble Network and TARS Protocol Join Forces to…

TL;DRFull StoryLast week, Vitalik Buterin (i.e. ‘ETHdaddy’) wrote an article entitled: Multidimensional gas pricing (And no, it’s not about how cheap California’s gas prices are in different dimensions…)It’s a proposal for a new way to structure Ethereum’s gas fees (aka transaction fees). The basic premise is this: Multidimensional gas on Ethereum would distinguish between different categories of effort required to complete different types of transactions. For example, different gas fees might be charged for transactions related to Ethereum NFTs, compared to crypto transactions for ETH. Some people on Twitter have said that this sounds eerily similar to Solana’s ‘local fee…

Early-stage investment firm Metaplanet announced on Monday that it’s adopting Bitcoin (BTC) as its sole “strategic treasury reserve asset.” This audacious decision signals a growing confidence in the controversial cryptocurrency as a legitimate store of value and hedge against traditional economic woes. Related Reading Yen Under Pressure, Bitcoin On The Rise Metaplanet’s decision comes amidst a backdrop of sustained economic pressures in Japan. A weakening yen, coupled with high government debt levels and persistently low-interest rates, seems to have pushed the firm to seek alternative havens for its reserves. Bitcoin, with its finite supply and decentralized nature, appears to be…

Bitcoin faced a critical juncture with potential paths to $76,610 or a drop to $51,970. Market data and analyst insights suggested increased selling pressure and a bearish short-term outlook. Bitcoin’s [BTC] market position is at a critical juncture as it currently traded at $61,394 at press time. After dipping to $60,000, the cryptocurrency has seen a slight increase of over 1% in the past 24 hours.  Despite this minor recovery, Bitcoin has experienced a 9% decline over the past month and a 4.3% drop in the past week. These movements have drawn significant attention from analysts and traders alike, who…

Saakuru Labs and Orochi Network have unveiled an exciting collaboration aimed at revolutionizing the blockchain landscape. By joining forces, these two industry leaders are set to enhance the Saakuru Protocol with cutting-edge oracle services provided by Orochi Network. https://t.co/mUHrxO4fBL — Saakuru Protocol – 🫂 discover #Web3 potential (@saakuru_labs) May 11, 2024 Saakuru Protocol Empowers Developers with High-Quality Oracle Services The partnership between Saakuru Labs and Orochi Network is poised to amplify the functionality and capabilities of the Saakuru Protocol. The collaboration will offer developers seamless access to high-quality oracle services. This integration is a significant step forward in simplifying and…

Ethereum’s Netflow got more positive. ETH was close to entering the $3,000 price zone. Recent data indicates that one of the early Ethereum [ETH] holders has transferred millions of dollars worth of ETH to an exchange. While this movement was relatively small, it could contribute to the positive Netflow trend that ETH has been experiencing recently.  Early Ethereum holder sells most of their holdings According to data from Spot on Chain, a significant transfer of 4,153 Ethereum coins to Coinbase occurred in the early hours of the 13th of May. This transfer, valued at over $12 million at the current…