Author: Crypto News Live
The recent dip in the price of Bitcoin below the $59,000 support level has sent jitters through the cryptocurrency market. While the price drop triggered liquidations in futures markets, analysts warn that a more significant decline could be on the horizon in the absence of a full-blown market capitulation. Measured Retreat, Not Mass Exodus Following the price drop, CryptoQuant, a cryptocurrency analysis platform, reported roughly $120 million in liquidated long positions (bets that the price would go up). This liquidation is noteworthy, but unlike previous selloffs at the same support level, it doesn’t signal a panicked exodus from investors. Investors…
In the evolving world of distributed ledger technology (DLT), the drive towards standardization has become a critical focus for enhancing system interoperability and security. The International Association for Trusted Blockchain Applications Standards Committee has recently highlighted the urgent need for standardized protocols through a comprehensive survey and ongoing research initiatives. The Role of Standardization in DLT The recent survey conducted by the association sheds light on the existing state of DLT frameworks and the disparate nature of current technologies. Standardization is defined as the process of developing and implementing technical standards to foster compatibility and efficiency across different systems and…
WIF’s market structure remained bullish despite the current market dump Despite BTC’s bearish market structure, it held its value better than WIF As April’s losses spilled into May, not all crypto-assets have managed the market dump well. This wasn’t helped by the fact that Bitcoin [BTC] cracked below its two-month price range of $60.8k and $72.7k on the charts. As expected, BTC’s drop below its range exerted more pressure on the market’s altcoins. In fact, some altcoins shed over 30% or 40% of their values. However, some defied those trends and held their bullish market structures. Crypto-analyst Ansem singled out…
TL;DRMicroStrategy, the company that owns 214,000 Bitcoins, is building a decentralized identity protocol on top of Bitcoin…Full StoryOk so, love it or hate it…Things being built on the Bitcoin network carry more weight than any other chain.And before you throw any accusations around:This isn’t coming from a place of bias – more from a place of “the Bitcoin network has more value (and therefore, more attention) than any other blockchain network out there.”So if a feature pops up on Bitcoin — by the numbers — it’s more likely to be adopted.Now, with that in mind, consider this…MicroStrategy, the company that…
Bitcoin’s price fell significantly over the last few days and slipped past the average cost basis of short-term holders Miner revenue declined, which could add more selling pressure on BTC miners Bitcoin’s [BTC] recent dip below the $60,000-mark sent shockwaves across the crypto-sector, leading to extreme uncertainty in the market and massive liquidations. Will short-term holders show paper hands? Before recovering a day later, on 2 May, Bitcoin closed at $57,700, slightly below the average cost basis of short-term holders, which stood at $58,500. This meant that the price of BTC fell below the average cost of acquisition for short-term…
Rapid Addition and Chainlink have announced a collaboration to create a Financial Information eXchange (FIX) native blockchain adapter. The goal is to enhance the ability of financial institutions to communicate with a wide range of tokenized assets. Blockchain Adapter For Institutional Trading Rapid Addition and Chainlink aim to bridge traditional financial communication systems with blockchain technology. The integration of Chainlink’s Cross-Chain Interoperability Protocol (CCIP) with Rapid Addition’s FIX solutions promises a seamless interaction with tokenized assets. This adapter will cater to emerging markets. These include carbon credits, renewable energy products, and real-world assets such as real estate and collectibles. The…
TOZ Universe announces its partnership with ALTAVA, which specializes in helping NFT items and metaverse platforms by providing necessary opportunities to enhance the experience of real-world brands by considering its virtual spaces. Through this partnership, different methods to incorporate the AI-driven 3D fashion of ALTAVA can be expanded into the ANIPANG world. Through this, creative innovation in the fashion world can be initiated. This algorithm allows a virtual trial experience for consumers to see their looks carrying new attire. It is made to use computer vision to analyze body shape sizes. Through this, community engagement and collaboration can be promoted…
SEC’s scrutiny of Ethereum is risking innovation beyond simply Ether’s classification Analysts believe the possible approval of a spot ETH ETF in the United States is under threat now The United States is locked in a regulatory tussle between the Securities and Exchange Commission (SEC) and crypto-entities, with the latter claiming that the former is consistently overstepping into the crypto-domain. Consensys, a blockchain software technology company, took this tussle a step further by taking the agency to court. Taking issue with how the SEC has been treating Ethereum, Joe Lubin, CEO of Consensys, on a recent edition of “Bankless” claimed, …
Solana Labs has teamed up with Google Cloud to integrate GameShift, Solana’s blockchain-based game development platform, into Google Cloud’s ecosystem. GameShift is a user-friendly game development platform that enables game developers to seamlessly implement blockchain technology into their games, without the need for extensive technical expertise. Solana and Google CloudJack Buser, Director of Games at Google Cloud, stated that many game studios on Google Cloud are interested in Web3 technology but find its technical complexities daunting. This partnership aims to bridge that gap and provide a seamless integration of blockchain technology into traditional gaming.Google has been involved with the Solana ecosystem since 2022, when it started running a validator to support the network.…
Bitcoin short-term whales are underwater, which likely presented an ideal buying opportunity Metrics resembled how they were before the previous major bull run Bitcoin [BTC] sank below the key demand zone at $60k. This region had held the sellers at bay but eventually gave way. Crypto technical analyst CrypNuevo highlighted that we might get a post-FOMC bounce to $61k in a post on X (formerly Twitter). Should traders expect to see the $60k former support reclaimed? Alternatively, should they look to go short upon a retest? Here’s what market participants could watch out for before making their next move. The…
