From Bitcoin poised for “the next bull run” to Astar announcing major protocol upgrades and new features, here’s a look at some of the biggest stories in the crypto space.
Bitcoin News
Analyst Benjamin Cowen is saying that the likelihood of Bitcoin (BTC) moving higher will increase if the leading cryptocurrency manages to break above a key moving average on the weekly chart.
In a recent video, Cowen told his 803,000 YouTube subscribers that Bitcoin is currently in a “very important position” and is poised for “further upside” if the asset breaks above its 20-week moving average and holds that level as support.
“If we can hold the 20-week Simple Moving Average (SMA), the market has clear skies ahead.”
Source: Benjamin Cowen
According to Cowen, Bitcoin will need to break above the 20-week SMA to replicate the large price rallies that typically occur a few months after a halving. Bitcoin’s price action so far is mimicking what happened to the leading crypto asset in 2013.
“If you look at 2013, what happened is we broke above the 20-week SMA a couple of times like we just did. But it took about a month to finally break above it officially. In 2013, BTC also set a series of lower highs, while gradually working its way back above the 20-week moving average. By August, the asset succeeded, holding it as support into September, and then we had an explosive rally in Q4.”
Source: Benjamin Cowen
XRP News
According to data provided by CoinMarketCap, XRP is the most traded cryptocurrency on Upbit, South Korea's leading cryptocurrency exchange.
The XRP/KRW pair generated $448.5 million in trading volume over the past 24 hours. Notably, the SHIB/KRW pair came in second with $178.5 million worth of trading volume.
Bitcoin, the leading cryptocurrency, came in third with $171.4 million.
Binance News
Binance launches the first project on the Binance Airdrops Portal – Banana Gun (BANANA), the ecosystem token of the Banana Gun bot, providing trading tools for on-chain tokens.
Users who registered their BNB for Simple Earn products from June 23 to July 5 will receive airdrop distribution.
Binance HODLer Airdrops is a program that rewards BNB holders with airdrop tokens based on a snapshot of their BNB balance. By registering BNB in the Simple Earn product, users will automatically qualify for HODLer Airdrops.
Binance will list the BANANA token at 17:00 on July 20 (UTC). The circulating supply before listing on Binance is 3.22 million BANANA (36% of total supply). The current BANANA price is $73.4 with a current fully diluted market capitalization (FDV) of $734 million.
Solana News
Solana has successfully gained the upper hand in the crypto market, easily surpassing the 100 and 50 EMA resistance levels and is likely to continue its upward movement.
Overall, Solana is in an uptrend and has been able to hold its position above the 50 EMA on the daily chart. SOL shows that it was able to maintain its gains throughout the recent price action, as it moved from around $148 to $163.
The increasing buying pressure is a result of the breakout above the 100 EMA, which also implies that investors are optimistic about Solana's prospects.
Source: TradingView
If SOL can break above this important resistance level, it could open up opportunities for further gains, with resistance lying around $170.
Comparing the pattern to the weekly chart, Solana’s upside potential is even greater. An ascending triangle pattern is forming, which often signals a potential breakout and strong price movement. Solana could rise as much as 300% if this pattern materializes.
The consecutive higher lows, showing strong support at lower levels and an overall uptrend, further strengthens the credibility of the pattern.
Astar News
Astar, a multi-chain blockchain platform integrated with the Polkadot network, has just announced new technical updates, recognizing the continuous efforts of experts to improve user experience and maintain its leading position in the blockchain field.
This week's update includes significant protocol upgrades and new features. Astar v5.42.0 has been released with numerous client and runtime improvements. Operators are advised to upgrade their clients immediately.
Major updates include:
Upgrade Polkadot-SDK to v1.9.0.
Integrate Astar Governance v1 into Shibuya.
Enable dApp Staking Ranking for Shiden and Astar.
Updated Collator Unbonding with dedicated bond withdrawal command.
Portal was also updated to v0.0.68 with several new features and important bug fixes, including zkEVM Bridge maintenance and Polkadot.js upgrade to v11.3.1.
Shiba Inu News
Shiba Inu’s official marketing team leader, Lucie, has issued a message to the SHIB army, urging them to stop panicking after an anonymous hacker breached the security system of India’s largest cryptocurrency exchange, WazirX, and stole approximately $249 million worth of cryptocurrencies, including 640.27 billion PEPE, 15,298 ETH, as well as 5.43 trillion SHIB.
As of now, the cybercriminals, according to Lucie's statement, have sold all the stolen trillions of SHIB for 26,535 ETH, equivalent to $92 million.
Data from Lookonchain reports that serious market makers, such as Wintermute, have been buying SHIB from DEXs and transferring them to centralized exchanges to sell them for arbitrage purposes.
Over the past 24 hours, SHIB managed to recover from a sudden drop of nearly 11% and gained slightly more than 4%; however, another decline pushed it down.
At the time of writing, the popular memecoin is changing hands around $0.00001720 after falling from $0.00001891 on Thursday.
Whale Alert detected a massive SHIB transaction of 3,632,752,465,343 on Thursday worth $63,282,547. The large transfer was made between anonymous wallets and is also believed to be related to the aforementioned WazirX hack.
Stablecoin News
Hong Kong has announced the first batch of stablecoin sandbox participants, but warned that they are not yet allowed to solicit funding from the public, as the region continues its efforts to become a cryptocurrency hub.
In a statement released late Thursday, the Hong Kong Monetary Authority said it is allowing institutions to pilot stablecoin issuance plans “to build a risk-based, fit-for-purpose regulatory regime.”
The sandbox, announced by the HKMA in March, will see participation from Jindong Coinlink Technology, RD InnoTech, Standard Chartered Bank, Animoca Brands and Hong Kong Telecommunications for the first batch.
Bitrue News
The investment and research arm of cryptocurrency exchange Bitrue has opened a $40 million investment fund dedicated to the Web3 ecosystem.
Bitrue Ventures' $40 million fund will be split among a number of Web3 developers and startups, who are eligible to receive investments of up to $200,000.
According to the announcement, Bitrue will provide select projects with the freedom to allocate their funds without outside interference.
Bitzlato News
The founder of defunct cryptocurrency exchange Bitzlato has reportedly been “sentenced to a substantial fine” after his exchange processed more than $700 million in illicit proceeds from Russia’s dark web.
In New York District Court on July 18, Judge Eric Vitaliano sentenced Anatoly Legkodymoc to time served after he pleaded guilty to operating an unlicensed money transmitting business.
Judge Vitaliano said the 18 months Legkodymov has already served at the Metropolitan Detention Center – Brooklyn (MDC) is considered more than enough punishment for his crimes.
Other news
Winklevoss Twins Donate $1 Million in Bitcoin to Unseat Elizabeth Warren
Gemini co-founders and crypto advocates Tyler and Cameron Winklevoss announced Thursday that they have each donated $500,000 in Bitcoin to push Senator Elizabeth Warren out of the U.S. Senate in November.
The senior senator from Massachusetts is “one of the greatest threats to American prosperity,” the Winklevoss brothers have previously spoken out against Warren.
“When it comes to crypto, she is public enemy number one,” Tyler Winklevoss wrote on X. “She is the driving force behind the Biden Administration’s war on crypto.”
+(Source: https://tapchibitcoin.io/tin-van-crypto-bitcoin-san-sang-bung-no-xrp-binance-solana-astar-shiba-inu-stablecoin-bitrue-bitzlato.html )+
$BTC $ETH $SHIB #ETH #Solana #xrp #stabecoin #bitcoin
