Consolidation from BTC has opened the door for BNB, UNI, FIL and THETA to run higher.
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Top 5 cryptocurrencies to watch this week: BTC, BNB, UNI, FIL, THETA
Bitcoin (BTC) has made a strong comeback in the month of July and is on track for its best monthly gains since October 2021. The sharp recovery in Bitcoin and several altcoins pushed the Crypto Fear and Greed Index to 42/100 on July 30, its highest level since April 6.
Investors seem to be making the most of the depressed levels in Bitcoin. Data from on-chain analytics firm Glassnode shows that Bitcoin in exchange wallets has dropped to 2.4 million Bitcoin in July, down from the March 2020 levels of 3.15 million Bitcoin. This has sent the metric to its lowest level since July 2018.
Crypto market data daily view. Source: Coin360Bloomberg Intelligence senior commodity strategist Mike McGlone highlighted that the United States Federal Reserve’s indication to consider rate hikes on a “meeting by meeting basis” may lay the groundwork for Bitcoin to outperform most assets. He said that Bitcoin’s “risk vs. reward tilted favorably for one of the greatest bull markets in history."
Could Bitcoin extend its rally in the short term and could that trigger buying in select altcoins? Let’s study the charts of the top-5 cryptocurrencies that may outperform in the near term.
BTC/USDT
Attempts by the bulls to sustain the price above $24,276 have failed in the past two days, indicating that the bears are defending the level with vigor. However, a minor positive is that the bulls have not ceded ground to the bears.
6 Questions for Kim Hamilton Duffy of Centre
We ask the buidlers in the blockchain and cryptocurrency sector for their thoughts on the industry… and throw in a few random zingers to keep them on their toes!
This week, our 6 Questions go to Kim Hamilton Duffy, director of identity and standards at Centre Consortium — an open-source technology project designed to create a more inclusive global economy.
Kim is a leader in the emerging decentralized identity field and has architected successful open-source projects such as Verite, Blockcerts and the Digital Credential Consortium toolkit.
1 — Which countries are doing the most to support blockchain, and which ones will be left behind?
Rather than assessing this through the narrow lens of whether certain crypto transactions are taxed, I think about whether countries are supporting innovation in blockchain — and, more broadly, decentralized architectures — in a collaborative, responsible, sustainable way that can benefit individuals and businesses.
6 Questions for Kim Hamilton Duffy of Centre
We ask the buidlers in the blockchain and cryptocurrency sector for their thoughts on the industry… and throw in a few random zingers to keep them on their toes!
This week, our 6 Questions go to Kim Hamilton Duffy, director of identity and standards at Centre Consortium — an open-source technology project designed to create a more inclusive global economy.
Kim is a leader in the emerging decentralized identity field and has architected successful open-source projects such as Verite, Blockcerts and the Digital Credential Consortium toolkit.
1 — Which countries are doing the most to support blockchain, and which ones will be left behind?
Rather than assessing this through the narrow lens of whether certain crypto transactions are taxed, I think about whether countries are supporting innovation in blockchain — and, more broadly, decentralized architectures — in a collaborative, responsible, sustainable way that can benefit individuals and businesses.
6 Questions for Kim Hamilton Duffy of Centre
We ask the buidlers in the blockchain and cryptocurrency sector for their thoughts on the industry… and throw in a few random zingers to keep them on their toes!
This week, our 6 Questions go to Kim Hamilton Duffy, director of identity and standards at Centre Consortium — an open-source technology project designed to create a more inclusive global economy.
Kim is a leader in the emerging decentralized identity field and has architected successful open-source projects such as Verite, Blockcerts and the Digital Credential Consortium toolkit.
1 — Which countries are doing the most to support blockchain, and which ones will be left behind?
Rather than assessing this through the narrow lens of whether certain crypto transactions are taxed, I think about whether countries are supporting innovation in blockchain — and, more broadly, decentralized architectures — in a collaborative, responsible, sustainable way that can benefit individuals and businesses.
Bitcoin due 'one of greatest bull markets' as July gains circle 20%
The future for Bitcoin price action may be much more bullish than the short-term charts, says Bloomberg Intelligence's Mike McGlone.
Bitcoin due 'one of greatest bull markets' as July gains circle 20%
Bitcoin (BTC) spoofed a breakout to fresh six-week highs into July 31 as a showdown for both the weekly and monthly close drew near.
BTC/USD 1-hour candle chart (Bitstamp). Source: TradingView"Bart Simpson" greets traders into BTC monthly close
Data from Cointelegraph Markets Pro and TradingView showed BTC/USD canceling out all its gains from early in the weekend, dropping from $24,670 to $23,555 in hours.
The resulting chart structure was all too familiar to long-term market participants, creating a "Bart Simpson" shape on hourly timeframes.
Liquidations nonetheless remained manageable, with the cross-crypto tally totaling $150 million in the 24 hours to the time of writing according to data from analytics resource Coinglass — less than on previous days.
Crypto liquidations chart. Source: CoinglassFor popular trader and analyst Rekt Capital, there was now reason to believe that the coming weekly candle close would confirm that Bitcoin had reestablished a key trendline as support after weeks of failure.
Hong Kong university to inaugurate mixed reality classroom in Metaverse
By building MetaHKUST, the institution plans to create a learning environment that virtually connects the two campuses — in Hong Kong and Guangzhou.
Ticketmaster scouts productization of enterprise NFTs beyond ticketing
Ticketmaster’s job posting for a product manager of NFT ticketing tooling reveals the company’s intent to roll out NFT-based enterprise products “across all content categories including sports and music.”
Crypto pumps after Fed rate hike, Zuckerberg pins hopes on Metaverse making hundreds of billions and Tesla posts $64M BTC gain: Hodler’s Digest, July 24-30
Coming every Saturday, Hodler’s Digest will help you track every single important news story that happened this week. The best (and worst) quotes, adoption and regulation highlights, leading coins, predictions and much more — a week on Cointelegraph in one link.
Top Stories This Week
‘Bullish rate hike’ — Why crypto spiked in the face of bad news
Despite the U.S. Federal Reserve announcing a 75-basis-point interest rate hike on Wednesday, the crypto markets pumped significantly on the same day with the momentum continuing through the week. Quantum Economics founder and CEO Mati Greenspan jokingly called it a “bullish rate hike” and stated that investors were clearly expecting far worse. Analysts such as Swyftx’s Pav Hundal suggested the recent rally may be due to an easing of inflationary pressures around gas and goods such as corn and wheat.
Ethereum dev confirms Goerli merger date, the final update before the Merge
On Thursday, lead Ethereum developer Tim Beiko revealed that the final Goerli testnet merger ahead of Ethereum’s long-awaited Merge and switch to proof-of-stake will occur between Aug. 6-12. In what has been a long and much-delayed roadmap since late 2020, the Ethereum network is now in the final stages of completing its largest upgrade to date. The official Merge is slated for Sept. 19 but could be subject to further delays if there are issues with the Goerli testnet.
Crypto pumps after Fed rate hike, Zuckerberg pins hopes on Metaverse making hundreds of billions and Tesla posts $64M BTC gain: Hodler’s Digest, July 24-30
Coming every Saturday, Hodler’s Digest will help you track every single important news story that happened this week. The best (and worst) quotes, adoption and regulation highlights, leading coins, predictions and much more — a week on Cointelegraph in one link.
Top Stories This Week
‘Bullish rate hike’ — Why crypto spiked in the face of bad news
Despite the U.S. Federal Reserve announcing a 75-basis-point interest rate hike on Wednesday, the crypto markets pumped significantly on the same day with the momentum continuing through the week. Quantum Economics founder and CEO Mati Greenspan jokingly called it a “bullish rate hike” and stated that investors were clearly expecting far worse. Analysts such as Swyftx’s Pav Hundal suggested the recent rally may be due to an easing of inflationary pressures around gas and goods such as corn and wheat.
Ethereum dev confirms Goerli merger date, the final update before the Merge
On Thursday, lead Ethereum developer Tim Beiko revealed that the final Goerli testnet merger ahead of Ethereum’s long-awaited Merge and switch to proof-of-stake will occur between Aug. 6-12. In what has been a long and much-delayed roadmap since late 2020, the Ethereum network is now in the final stages of completing its largest upgrade to date. The official Merge is slated for Sept. 19 but could be subject to further delays if there are issues with the Goerli testnet.
Crypto pumps after Fed rate hike, Zuckerberg pins hopes on Metaverse making hundreds of billions and Tesla posts $64M BTC gain: Hodler’s Digest, July 24-30
Coming every Saturday, Hodler’s Digest will help you track every single important news story that happened this week. The best (and worst) quotes, adoption and regulation highlights, leading coins, predictions and much more — a week on Cointelegraph in one link.
Top Stories This Week
‘Bullish rate hike’ — Why crypto spiked in the face of bad news
Despite the U.S. Federal Reserve announcing a 75-basis-point interest rate hike on Wednesday, the crypto markets pumped significantly on the same day with the momentum continuing through the week. Quantum Economics founder and CEO Mati Greenspan jokingly called it a “bullish rate hike” and stated that investors were clearly expecting far worse. Analysts such as Swyftx’s Pav Hundal suggested the recent rally may be due to an easing of inflationary pressures around gas and goods such as corn and wheat.
Ethereum dev confirms Goerli merger date, the final update before the Merge
On Thursday, lead Ethereum developer Tim Beiko revealed that the final Goerli testnet merger ahead of Ethereum’s long-awaited Merge and switch to proof-of-stake will occur between Aug. 6-12. In what has been a long and much-delayed roadmap since late 2020, the Ethereum network is now in the final stages of completing its largest upgrade to date. The official Merge is slated for Sept. 19 but could be subject to further delays if there are issues with the Goerli testnet.