Decentral Block Post

Flow (FLOW) logged its best daily performance on Aug.4 after becoming the latest blockchain to support Instagram's nonfungible token (NFT) features.

Insta-made FLOW rally

Meta CEO Mark Zuckerberg announced on Aug. 4 that Instagram had expanded its NFT support to 100 more countries in Africa, the Asia-Pacific, the Middle East and the Americas. As a result, more users can post digital collectibles minted on the Flow blockchain on Instagram.

The high-profile integration helped FLOW surge 54% to reach an intraday high of $2.83 a token. Interestingly, the token's massive upside move accompanied a spike in its daily trading volumes, confirming some weight behind the bullish trend. 

Like any blockchain native asset, the ups and downs in FLOW's demand are tied to the adoption of its parent chain. In general, FLOW serves as a legal tender within the Flow's proof-of-stake ecosystem for the following purposes:

That explains the token's bullish response to Instagram's adoption.

Flow (FLOW) logged its best daily performance on Aug.4 after becoming the latest blockchain to support Instagram's nonfungible token (NFT) features.

Insta-made FLOW rally

Meta CEO Mark Zuckerberg announced on Aug. 4 that Instagram had expanded its NFT support to 100 more countries in Africa, the Asia-Pacific, the Middle East and the Americas. As a result, more users can post digital collectibles minted on the Flow blockchain on Instagram.

The high-profile integration helped FLOW surge 54% to reach an intraday high of $2.83 a token. Interestingly, the token's massive upside move accompanied a spike in its daily trading volumes, confirming some weight behind the bullish trend. 

Like any blockchain native asset, the ups and downs in FLOW's demand are tied to the adoption of its parent chain. In general, FLOW serves as a legal tender within the Flow's proof-of-stake ecosystem for the following purposes:

That explains the token's bullish response to Instagram's adoption.

Cryptocurrencies’ total market capitalization bounced from $860 billion on June 30 to the current $1.03 trillion, a 20.6% relief in five weeks. Ether (ETH) might have been the absolute leader among the largest smart contract chains, but BNB managed to gain 39% over that period.

BNB token’s year-to-date performance remains negative by 43%, but the current $49.5 billion market capitalization ranks it the third largest, excluding stablecoins. Furthermore, the leading decentralized application (DApp) is PancakeSwap — 843,630 active addresses in the past seven days — which runs on BNB Chain.

The token serves primarily as a utility asset within the Binance exchange ecosystem, enabling traders to earn discounts or participate in token offers. So, technically, the BNB token does not give ownership rights or dividends to any Binance-owned company or service.

However, according to Bloomberg, the United States Securities and Exchange Commission (SEC) is investigating whether the initial coin offering (ICO) of BNB tokens in 2017 consisted of a sale of unregistered securities. A digital asset may fall under the SEC’s scrutiny if buyers intend to profit from the efforts of a company or project funded by the capital raise.

To understand whether BNB's 39% rally in five weeks is justified, investors should analyze network use, including smart contract deposits, active users and decentralized applications adoption.

Cryptocurrencies’ total market capitalization bounced from $860 billion on June 30 to the current $1.03 trillion, a 20.6% relief in five weeks. Ether (ETH) might have been the absolute leader among the largest smart contract chains, but BNB managed to gain 39% over that period.

BNB token’s year-to-date performance remains negative by 43%, but the current $49.5 billion market capitalization ranks it the third largest, excluding stablecoins. Furthermore, the leading decentralized application (DApp) is PancakeSwap — 843,630 active addresses in the past seven days — which runs on BNB Chain.

The token serves primarily as a utility asset within the Binance exchange ecosystem, enabling traders to earn discounts or participate in token offers. So, technically, the BNB token does not give ownership rights or dividends to any Binance-owned company or service.

However, according to Bloomberg, the United States Securities and Exchange Commission (SEC) is investigating whether the initial coin offering (ICO) of BNB tokens in 2017 consisted of a sale of unregistered securities. A digital asset may fall under the SEC’s scrutiny if buyers intend to profit from the efforts of a company or project funded by the capital raise.

To understand whether BNB's 39% rally in five weeks is justified, investors should analyze network use, including smart contract deposits, active users and decentralized applications adoption.

With the price of Bitcoin (BTC) holding above $22,000, more and more market players are turning bullish again. Does this mean that we could see BTC go to $28,000 in the short term or will it fall below its current levels? Join us as we discuss this and other topics with Crypto Jebb and Mr. Wonderful, himself, Kevin O’Leary.

In this week’s episode of Market Talks, we welcome businessman, entrepreneur, author, winemaker and television presenter, Mr. Kevin O’Leary.

O’Leary, best known as the shark on the hit reality TV show Shark Tank, is the chairman of O'Shares Investments and a strategic investor in WonderFi. Mr. O’Leary’s success story starts where most entrepreneurs begin — with a big idea and zero cash.

The main topic of discussion on the show is whether BTC will go as high as $28,000 or re-test the bear market lows of June. With so much uncertainty in the market right now, we also discuss the best way to navigate digital assets for the remainder of the year.

Following the collapse of Terra (Luna) — now renamed Terra Classic (LUNC) — and the insolvencies of Celsius and Three Arrows Capital, we ask Kevin if he thinks, from a business perspective, these companies should have been bailed out.

Bitcoin (BTC) returned to base on Aug. 4 as higher levels gave way to a battle for the 200-week moving average (MA).

Battle for classic Bitcoin price trendline rages 

Data from Cointelegraph Markets Pro and TradingView showed BTC/USD falling to repeatedly test the key bear market trendline as support.

The day’s Wall Street open provided only a brief change in the mood, with the pair spiking above $23,000 before continuing previous behavior.

The atmosphere was unchanged by news that investment giant BlackRock had partnered with major exchange Coinbase to provide crypto trading to clients.

Instead, the familiar status quo involving the 200-week MA just above $22,800 entered another chapter, with bulls and bears still tussling for control. On-chain analytics resource Material Indicators noted that one class of whales active on the largest global exchange, Binance, was in a more risk-off mood on the day.

Bitcoin (BTC) is providing overwhelming evidence that it is capitulating, and it is time to flip bullish as a result, new analysis believes.

In a Twitter thread on Aug. 3, Charles Edwards, CEO of crypto asset manager Capriole, revealed what he called the “The 12 Bitcoin Capitulations.”

“Risk-returns skewed positively” for Bitcoin

With BTC price action recovering from multi-year lows but still hovering near key bear market support, opinions vary widely as to what will happen next.

Some are demanding a return to levels even lower than June’s $17,600 trough, while others argue that a “bear market relief rally” could take BTC/USD as high as $40,000 first.

For Edwards, the raw evidence suggests that the past months have been bearish enough and that behind the scenes, Bitcoin has been quietly capitulating.