From triple-digit Bitcoin price predictions to Fantom airdropping a total of 190 million S tokens to Fantom Opera users, here are some of the breaking news in the crypto space.
Bitcoin News
Bitcoin has been trading near the $60,000 support zone once again. Nearly two months ago, the same $60,000 support zone was retested as support after the price plummeted to $56,000.
At that time, the sentiment was very fearful and investors were cautious. Now, a similar mentality is prevailing.
While short-term price action shows a downtrend, higher time frame price action shows a strong uptrend. Over the past six months, from its late January low of $38,500, Bitcoin has increased nearly 55%.
Bitcoin price has established a higher low at $56,500, marking a key support level for buyers to defend in the coming weeks.
The cryptocurrency market has shifted to a quieter trading mode after several days of massive volatility, which means both bulls and bears are pausing to reflect on their next move.
Against this backdrop, new opinions and discussions began to emerge. John Bollinger, legendary trader and creator of the famous Bollinger Line indicator, also shared his insight on Bitcoin, highlighting the two-bar reversal pattern in Bollinger Bands (BB). He believes this pattern has occurred in a reasonable place and is likely to result in at least a bounce to test the highs again.
If the trader’s prediction comes true, BTC will at least reach the upper BB band, which coincides with a price of around $72,000. In fact, Bitcoin’s all-time high set earlier this spring was also near this range.
It is a lovely two-bar reversal at the lower Bollinger Band that occurred at a logical place. Should be good for at least a bounce.. Perhaps a test of the highs?https://t.co/qYy634PTOS
— John Bollinger (@bbands) June 25, 2024
Meanwhile, the Bitcoin rainbow chart shows that this is still a great time to buy Bitcoin. This chart shows Bitcoin’s price movements on a logarithmic scale and can be useful for investors in predicting potential cycle tops.
Source: Blockchain Center
The multicolored chart highlights different zones from “Bitcoin is Dead” to “Maximum Bubble Territory.” At the time of writing, BTC is in a fairly active “BUY” zone.
At the time of writing, the chart is confident that there is still a long way to go in price discovery for this cycle.
The previous two peak cycles occurred 17–18 months after the halving. Extrapolating to the current cycle, the peak could be reached in September or October 2025.
In 2021, BTC failed to break through “bubble” territory but this time Bitcoin may not break through “HODL” territory. While conservative, it also puts Bitcoin at a value of $260k, with an estimate of $373k if Bitcoin spills into “bubble” territory.
Lightning Network News
Nubank, a famous Brazilian neobank, recently announced the integration of Lightning Network – Layer 2 of Bitcoin.
The initiative aims to improve transaction speeds, reduce costs, and improve scalability for users.
This is part of a strategic partnership with Lightspark, a company known for its blockchain solutions. Integration with Lightspark tools optimizes trade success rates and liquidity requirements. This provides Nubank with powerful tools to enhance the end-to-end trading experience through blockchain.
By incorporating the Lightning Network, Nubank allows customers to make daily payments, transfers and international purchases using Bitcoin. This development is in line with Nubank’s ongoing efforts to innovate and improve its digital banking services.
Binance News
To protect users and maintain a high-quality trading market, Binance conducts periodic reviews of all listed spot trading pairs and may delist selected spot trading pairs due to various reasons. factors, such as poor liquidity and trading volume.
Based on recent reviews, Binance will erase and stop trading the following spot trading pairs: BLUR/FDUSD, LINK/TUSD, MEME/ETH, METIS/FDUSD, NFP/BNB, OSMO/BTC, SHIB/TUSD.
Delisting of spot trading pairs no image affect token availability on Binance Spot. Users can still trade the underlying and quoted assets of spot trading pairs through other trading pairs available on Binance.
Fantom News
Fantom launched a new Sonic update with technological improvements in May. This upgrade also changed the FTM token to S, marking a new journey for Fantom.
Recently, the platform announced that Fantom Opera users will be airdropped a total of 190 million S tokens under the following conditions:
– LP providers on different dApps
– Victim of Multichain bridge
– Validators and delegators (authorizers)
– Hodler liquidity staking token (LST)
– Users + creators on Fantom Opera NFT marketplaces.
FTX News
A US bankruptcy court has Licensing for FTX to solicit votes on a liquidation plan to pay customer claims in cash.
The cash settlement plan would pay customers based on the cryptocurrency price at the time of FTX’s collapse in November 2022, overcoming opposition from customers seeking higher amounts because of electricity prices deaths have increased.
In a protest motion, some creditors claimed FTX was “inaccurately attempting to tout full compensation with interest,” arguing that the proposed compensation plan was not equivalent to the fully recovered and the customer should be informed of this difference.
Reuters estimates that customers holding one Bitcoin at FTX in 2022 will receive $16,800 under this plan instead of the current value of each BTC.
Creditors have been raising their concerns about this discrepancy since May.
FTX will open voting until August 16 and seek final approval of the plan on October 7.
Bybit News
Bybit debit card could be added to Apple Pay, CEO Ben Zhou said on Tuesday.
The company announced on June 17 that it was available to customers Apple Pay as a payment option in the Bybit app or website.
Bybit launched Bybit Card, a physical debit card issued by Mastercard, in April. TThe payment option allows users to make payments and cash out in 1 fiat currency and 8 crypto assets.
News Solo Leveling
Singapore-based Web3 developer OtherWorld has announced the launch of a beta version of its NFT platform based on the popular Korean web novel and webtoon, Solo Leveling. The platform called “Solo Leveling: Unlimited” will be launched on the Avalanche blockchain.
For its digital collectibles platform, OtherWorld is using a custom Layer 1 network built on top of Avalanche, which will feature gasless NFT transactions. OtherWorld said the platform will be maintained for future use to bring more webtoon and K-pop IPs into the Web3 space.
Players on the platform can have their characters follow the origin story of Solo Leveling by defeating monsters and collecting cards to level up. Users with high-level monster cards will receive various rewards, including an NFT PFP (profile photo) of the main character of Solo Leveling.
Crossover Markets News
Crossover Markets, a digital asset trading technology company focused on institutional liquidity requirements, announced it raised $12 million in a Series A funding round led by Illuminate Financial and DRW Venture Capital head.
Crossover intends to use the new financing to achieve a number of strategic goals, including expanding the team, developing the CROSSx automated electronic trading network system, which is an aid trading platform for assets digital. Additionally, they also aim to expand 24/7 trading capabilities to other asset classes. This initiative highlights their commitment to progressing in the digital asset trading sector and expanding their market reach across different asset classes.
Covalent News
Blockchain data infrastructure company Covalent has raised $5 million in strategic funding led by RockTree Capital with participation from CMCC Global, Moonrock Capital and Double Peak Group.
Covalent develops infrastructure to allow users to access historical blockchain data in the “Ethereum Wayback Machine,” which is like the web2 version that stores websites online. The company said it will use its funding to expand into Asia and increase adoption of long-term data availability in countries such as China and Singapore. In total, Covalent has raised more than 20 million USD through token sales.
JASMY News
Market maker DWF Labs has transfer 24 million JASMY tokens worth $731k to Binance exchange.
This is especially notable as DWF Labs’ market maker agreement with Jasmy is set to expire in August.
On June 26 last year, DWF Labs withdrew 700 million JASMY tokens from the Gateio exchange for 0.004384 USD. Notably, a similar number of tokens was also transferred to Gateio by the JASMY development team during the same period.
Annie
Bitcoin Magazine
