Bitcoin and altcoins gave up the gains of last week’s relief rally and June 29’s dip below $20,000 suggests bears are intent on pushing the market back to its yearly lows.
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Price analysis 6/29: BTC, ETH, BNB, XRP, ADA, SOL, DOGE, DOT, SHIB, LEO
Bitcoin and altcoins gave up the gains of last week’s relief rally and June 29’s dip below $20,000 suggests bears are intent on pushing the market back to its yearly lows.
Uniswap analysis: UNI price can double based on a classic technical pattern
Uniswap (UNI) market valuation could grow by 100% in the second half of 2022 as it paints a classic bearish reversal pattern.
UNI price bullish setup
Dubbed "inverse head and shoulders (IH&S)," the technical setup takes shape when the price forms three troughs in a row below a common support level (neckline), with the middle one (head) deeper than the other two (shoulders).
Additionally, it resolves after the price breaks above the support level.
The UNI price trend since May 23 check all the boxes for forming an IH&S pattern, except the right shoulder. A retest of its neckline near $5.71 would form the right shoulder, increasing the possibility of an iH&S breakout scenario, as shown below.
UNI/USD daily price chart featuring IH&S setup. Source: TradingViewAs a rule of technical analysis, the price breaking out of an IH&S structure can rally by as much as the maximum distance between its head's lowest point and the neckline. So, UNI's IH&S's upside target comes to be around $9.78, up over 100% from today's price.
Uniswap analysis: UNI price can double based on a classic technical pattern
Uniswap (UNI) market valuation could grow by 100% in the second half of 2022 as it paints a classic bearish reversal pattern.
UNI price bullish setup
Dubbed "inverse head and shoulders (IH&S)," the technical setup takes shape when the price forms three troughs in a row below a common support level (neckline), with the middle one (head) deeper than the other two (shoulders).
Additionally, it resolves after the price breaks above the support level.
The UNI price trend since May 23 checks all the boxes for forming an IH&S pattern, except the right shoulder. A retest of its neckline near $5.71 would form the right shoulder, increasing the possibility of an iH&S breakout scenario, as shown below.
UNI/USD daily price chart featuring IH&S setup. Source: TradingViewAs a rule of technical analysis, the price breaking out of an IH&S structure can rally by as much as the maximum distance between its head's lowest point and the neckline. So, UNI's IH&S's upside target comes to be around $9.78, up over 100% from June 2's price.
Taiwan central bank governor considers interest-free CBDC design to prevent fiat deposit flight
"Neither of the current CBDCs in circulation, such as the Sand Dollar and the digital yuan, accrue interest on deposits," said Yang.
Polkadot's founder announces steps toward full decentralization with new governance model
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Live from Polkadot Decoded in Buenos Aires on Wednesday, Polkadot and Kusama founder Gavin Wood announced that the blockchain's governance model would undergo a new transformation. Dubbed Gov2, anyone would be able to start a referendum at any time for as many times as they wish in the new setup, similar to initiating new transactions on the blockchain.
Thereafter, pending referenda need 50% of the vote from stakeholders within 28 days' time for approval or face rejection by default. Participants can also intervene and launch timely cancellation proposals, which require similar voting procedures, in the event that technical glitches are discovered within referenda themselves. For passive voters, they can specify a different delegate for every class of referendum in the system in a process known as multirole delegation.
He said there will be a new body, dubbed Polkadot Fellowship, composed of technical experts that have the power to shorten referenda voting times in the event of time-sensitive matters. Overall, several tenets would remain invariant from the previous governance model. First, 50% of the total stake in the system will be allowed to command the system's future. Greater weight will also be given to those willing to lock their tokens in the system for longer in a process known as conviction voting. Finally, a committee will also remain to oversee the blockchain's technocratic developments.
Polkadot's founder announces steps toward full decentralization with new governance model
Gavin Wood said that he seeks to transform the Polkadot blockchain into a full technocracy.
It’s time to refocus on crypto infrastructure, CoinShares CSO says
CoinShares CSO Meltem Demirors finds crypto infrastructure and developer tools more interesting than Web3 and the money aspect of crypto during the current bear market.
Bitcoin holds $20K as ECB warns inflation may never return to pre-COVID lows
Markets beyond the euro slow to react as Europe acknowledges higher inflation may be permanent.
Bitcoin holds $20K as ECB warns inflation may never return to pre-COVID lows
Bitcoin (BTC) held steady at just above $20,000 after the June 29 Wall Street open as Europe's chief banker admitted the world would "never" return to low inflation.
BTC/USD 1-hour candle chart (Bitstamp). Source: TradingViewLagarde on inflation: "I don't think we're ever going back"
Data from Cointelegraph Markets Pro and TradingView showed BTC/USD looking nonvolatile but precarious as it stuck in a narrow range on the day.
United States equities markets were likewise calm after Asian trading had seen fresh losses. In Europe, meanwhile, comments from central bankers set the macro tone.
In particular, Christine Lagarde, head of the European Central Bank (ECB), appeared to state that inflation would remain high indefinitely.
"I don't think we're going back to that period of low inflation," she said during a press conference at the ongoing ECB Forum event in Sintra, Portugal.
Better than Axie Infinity: Kieran Warwick’s 2032 plan for Illuvium
Kieran Warwick created the play-to-earn game Illuvium with his brothers Aaron and Grant — all siblings of DeFi maverick Kain, the founder of Synthetix. He shares his alpha on how NFT game mechanics can be designed in such a way that playing them can be fun and profitable in the long term.
Warwick entered the retail world right out of high school, eventually becoming an online shopping entrepreneur. He got his start in the crypto world at brother Kain’s company BlueShyft, which first made Bitcoin and crypto exchange payments available over-the-counter at more than one thousand physical retailers around Australia in 2015.
Kieran Warwick is riding Illuvium until 2032.
Better than Axie Infinity: Kieran Warwick’s 2032 plan for Illuvium
Kieran Warwick created the play-to-earn game Illuvium with his brothers Aaron and Grant — all siblings of DeFi maverick Kain, the founder of Synthetix. He shares his alpha on how NFT game mechanics can be designed in such a way that playing them can be fun and profitable in the long term.
Warwick entered the retail world right out of high school, eventually becoming an online shopping entrepreneur. He got his start in the crypto world at brother Kain’s company BlueShyft, which first made Bitcoin and crypto exchange payments available over-the-counter at more than one thousand physical retailers around Australia in 2015.
Kieran Warwick is riding Illuvium until 2032.
Better than Axie Infinity: Kieran Warwick’s 2032 plan for Illuvium
Kieran Warwick created the play-to-earn game Illuvium with his brothers Aaron and Grant — all siblings of DeFi maverick Kain, the founder of Synthetix. He shares his alpha on how NFT game mechanics can be designed in such a way that playing them can be fun and profitable in the long term.
Warwick entered the retail world right out of high school, eventually becoming an online shopping entrepreneur. He got his start in the crypto world at brother Kain’s company BlueShyft, which first made Bitcoin and crypto exchange payments available over-the-counter at more than one thousand physical retailers around Australia in 2015.
Kieran Warwick is riding Illuvium until 2032.
Governments, enterprise, gaming: Who will drive the next crypto bull run?
With all the recent turbulence in the crypto space, the question of the moment is: What will drive the next crypto bull run?
Governments, enterprise, gaming: Who will drive the next crypto bull run?
With all the recent turbulence in the crypto space, the question of the moment is: What will drive the next crypto bull run?
Governments, enterprise, gaming: Who will drive the next crypto bull run?
With all the recent turbulence in the crypto space, the question of the moment is: What will drive the next crypto bull run?