Get daily crypto briefings and weekly Bitcoin market reports delivered right to your inbox. Key Takeaways Bitcoin and Ethereum are holding above crucial support levels. Both assets could face significant losses if they lose these key interest areas. BTC could dive to $58,000 and ETH toward $3,700. This Exchange News was brought to you by OKCoin, our preferred Exchange Partner.
With cryptocurrencies such as Bitcoin, Ethereum, Doge, Shiba Inu and Solana touching all-time highs, the number of traders has also grown exponentially, said market watchers. Top exchanges have recorded a 200-500% jump in the number of day traders who make money merely by taking positions in various crypto assets.
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The buyers will now attempt to push the price to the resistance line of the wedge. If bulls thrust the price above the wedge, the bullish momentum could pick up and the LUNA/USDT pair may reach $62.59.
A look at funding rates across exchanges hints at excessive optimism, with traders going long on BTC en masse — a classic indicator of a correction.
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Bitcoin futures ETFs are designed to allow investors to make trades on futures contracts and away from the usual means of crypto exchanges like Binance, which have come under greater scrutiny from regulators worldwide.
And cryptocurrency exchanges are somewhat vulnerable to hacking, representing the most common venue for digital currency theft by hackers and cybercriminals like those responsible for taking down Mt. Gox.
Outside of Binance there has been a shift to using Coinbase or Gemini, but out of the two reviewed above, there is one clear leader.
BEIJING (AP) — China’s central bank on Friday declared all transactions involving Bitcoin and other virtual currencies illegal, stepping up a campaign to block use of unofficial digital money.
With its hourly RSI nearly bottoming out at around 30, there is a case for optimism. However, to resume bullish movement, FTM will need to hold $2.5 and the nearest resistance at $2.72, based on a 50% fibonacci retracement. It will then need to claim the $2.87 level in the short term. Should it succeed, the key daily level of $3.18 is attainable.
SafeMoon may have some investors concerned that it will not return to its prior glory. Despite a very promising starting performance, SafeMoon has settled far below the hopes of the investors that held onto the token.
You can earn rewards through the exchange by holding certain coins in your Binance.US account — a strategy called “staking.” According to Binance.US, staking helps support the operations of these coins’ blockchains.
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Moreover, holding the NFTs entitles the holders to a 3% decrease on all service charges.
Community Focused and fair launch. The dev team burned all of their tokens and participated with everyone else.
The world’s largest crypto exchange is going legit. Binance, which processes more than $1 billion on a daily basis and for so long has embodied crypto’s Wild West culture, announced that it will launch a U.S.-based service — but, in the meantime, it is implementing restrictions for U.S. passport holders worldwide and those based in the country.