Tron rose for a fourth consecutive session on Monday, pushing the token to an eleven-month high. The move comes despite current sentiment of uncertainty in the cryptocurrency market. Cardano was also higher, snapping a losing streak in the process.

TRON (TRX)

Tron (TRX) rose close to an eleven-month high to start the week, following a recent four-day bull run.

TRX/USD rose to a peak of $0.07841 earlier in the day, which comes a day after trading at a low of $0.07271.

As a result of Monday’s move, TRON climbed to its strongest point since June 10 last year.

TRX/USD – Daily Chart

One of the catalysts of the surge appears to be a breakout which transpired on the relative strength index (RSI).

The index moved beyond the ceiling of 69.00, and as of writing, is tracking at 77.17.

Now in overbought territory, there could be some profit taking, however a target of $0.080 still remains a possibility.

Cardano (ADA)

Whilst TRX has now risen for a fourth day, cardano (ADA) ended a four-session losing streak on Monday.

Following a low of $0.3573 on Sunday, ADA/USD rose by as much as 2% today, hitting a high of $0.3732.

Today’s rebound in price came as bulls seemingly rejected a breakout of a floor at the $0.3570 mark.Okx Lists the Top BRC20 Token Ordi Amid Bitcoin-Token Demand

Among the top contenders in the BRC20 market today, we have the tokens ordi, $B20, vmpx, piza, and pepe, capturing the attention of BRC20 investors and traders. Particularly noteworthy is the leading position of ordis, boasting the largest market capitalization with a valuation of $255 million on Sunday. Adding to the momentum, the crypto exchange Okx recently made an announcement, declaring its support for both BRC20 tokens and Ordinal inscriptions within the Okx Wallet. To further solidify their commitment, Okx exchange revealed that they would be listing the prominent BRC20 token ordis (ORDI).

ADA/USD – Daily Chart

This came as the RSI also held firm at a key point of support, with price strength moving away from the 40.00 mark.

As of writing, the index is now tracking at 44.29, with a ceiling at 49.00 a possible target for ADA bulls.

If this zone is reached, there is a relatively good chance cardano will be trading above $0.3800

#feedfeverchallenge #Binance #BTC #crypto2023 #BNB

May 22nd is widely celebrated by the crypto community as Bitcoin Pizza Day, and here's the story behind it.

In 2010, Bitcoin was still a nascent technology known only to a few dedicated cypherpunks who were mining it without many practical use cases. Despite the release of the white paper in 2008 and the first block being mined in early 2009, Bitcoin had yet to find real-world acceptance and no merchants were accepting it.

But then, a game-changing moment occurred.

On May 18th, 2010, a user named Laszlo on the Bitcointalk forum made a bold proposition. He offered to pay 10,000 Bitcoins for a couple of pizzas, simply to be able to claim that he had bought something with Bitcoin. This offer marked an important step in the journey of Bitcoin as a digital currency.

After a few days of discussions on the forum, someone took him up on the offer. The trade took place, and on May 22nd, 2010, Laszlo confirmed that the first-ever transaction of Bitcoin for physical goods had been successful.

At the time, the value of 10,000 Bitcoins for a couple of pizzas seemed generous but not particularly significant, amounting to around $41. However, as Bitcoin gained popularity, its price began to soar. People were amazed to see the value of those pizzas skyrocketing to what seemed like astronomical levels. Some users joked about the possibility of these pizzas becoming million-dollar pizzas one day.

Fast forward to the present day, with Bitcoin reaching highs of $20,000 and currently hovering around $8,000, and the figure of $800,000,000 for those two pizzas becomes mind-boggling. It's hard to comprehend the immense value they hold.

It's no wonder that many believe these pizzas will one day become billion-dollar pizzas. The hope for that day is shared among all of us involved with cryptocurrencies, particularly Bitcoin.

The journey of Bitcoin since that momentous pizza transaction has been filled with ups and downs. Bitcoin's price has experienced significant fluctuations, reaching its peak at $20,000 and then stabilizing around $8,000. However, the underlying potential and promise of Bitcoin as a transformative digital currency remain.

As we look to the future, there is a collective hope among crypto enthusiasts that Bitcoin will continue to evolve and fulfill its potential as a widely accepted form of digital cash. The dream of billion-dollar pizzas may not be so far-fetched, especially as Bitcoin gains more mainstream acceptance and adoption.

Bitcoin Pizza Day serves as a reminder of the humble beginnings of this revolutionary technology and the belief in its potential. It's a celebration of the progress made so far and a symbol of the exciting possibilities that lie ahead.

So, as we commemorate Bitcoin Pizza Day, let's raise a metaphorical slice of pizza and toast to the remarkable journey of Bitcoin, the advancements yet to come, and the vibrant community that continues to support and believe in this groundbreaking technology.

#binancepizza #Binance #BTC #crypto2023 #feedfeverchallenge

Bitcoin continued to consolidate on Monday, ahead of U.S. debt ceiling talks with President Biden and Republican House Speaker Kevin McCarthy. It is expected that if a deal isn’t reached this week, the government will run out of cash on June 1. Ethereum was marginally higher.

Bitcoin

Bitcoin (BTC) started the week in consolidation, as markets remain hopeful of a deal to increase the debt ceiling in the United States.

BTC/USD dropped to an intraday low of $26,549.73, which comes less than 24 hours after a high at $26,986.08.

Overall, Monday’s move is the third straight day in which BTC has traded below the $27,000 mark.

From the chart, it appears that BTC has now found a firm floor at $26,300, with prices hovering slightly above that point.

In order for a significant move to take place, a ceiling of 44.00, or support at 39.00, on the relative strength index (RSI), will need to be broken.

At the time of writing, the index is tracking at 41.18.

Ethereum

Ethereum (ETH) rose slightly higher on Monday, as it once again bounced from a key support point.

Following a low of $1,793.22 on Sunday, ETH/USD climbed to a peak of $1,820.25 earlier in the day.

The drop saw ethereum near its recent price floor at the $1,790 mark, however bulls used this as a sign to reenter the market.

Still, earlier gains have somewhat dropped, with the index currently tracking close to a ceiling of 46.00.

In order for momentum to fully turn bullish, this resistance will need to be broken, which is unlikely to happen until a debt ceiling deal is reached.

#feedfeverchallenge #Binance #BTC #crypto2023 #dyor

Xrp rose for a fifth straight session on Thursday, as the token moved close to a two-week high. The rise comes as cryptocurrencies rebounded from recent losses, with the global market cap up 1.38% as of writing. Cardano also surged, hitting an 11-day peak.

XRP

Xrp, formerly ripple, was once again a big mover in cryptocurrency markets, climbing by as much as 5% on Thursday.

Following a low of $0.4389 on Wednesday, XRP/USD rose to a peak of $0.4713 earlier in today’s session.

As a result of this surge, the token moved to its strongest point since April 30, when price was above $0.4800.

XRP/USD – Daily Chart

From the chart, it appears that this latest rise comes as the relative strength index (RSI) moved beyond a key resistance level at 55.00.

At the time of writing, price strength is at the 55.71 mark, with the next visible ceiling at the 61.00 point.

If bulls were to take the RSI to this point, there is a good chance that XRP could recapture the $0.4800 level.

Cardano (ADA)

In addition to XRP, cardano (ADA) also rose significantly, hitting an 11-day high in today’s session.

ADA/USD jumped to an intraday high of $0.3798 earlier today, which follows on from Wednesday’s low at $0.3658.

This has resulted in the token climbing for a third consecutive day, reaching its strongest level since May 7.

ADA/USD – Daily Chart

Overall, cardano is up by as much as 7% in the past week, this coming as the 10-day (red) moving average begins to gain momentum.

Should the trend line continue to climb in its current direction, a crossover with its 25-day (blue) counterpart is highly likely.

For this to happen the RSI will need to break out of a ceiling at 47.00.

#feedfeverchallenge #binancepizza #Binance #dyor #BNB

On Thursday, California-based bitcoin voucher company Azteco revealed it had garnered $6 million in seed funding through a round spearheaded by Block, Inc.’s CEO and chairperson, Jack Dorsey. Azteco stated that the newly acquired capital would further its objective to “provide billions of people” with a “solution that promotes financial inclusion and long-term stability.”

Jack Dorsey Leads $6 Million Investment in Azteco

Azteco, a firm offering minute bitcoin (BTC) portions through a voucher system, announced raising $6 million in seed funding. The investment round was directed by Block executive Jack Dorsey, accompanied by participants such as Lightning Ventures, Hivemind Ventures, Ride Wave Ventures, Aleka Capital, Visary Capital, and Gaingels. Investors David Van Der Weele and Sunil Rajaraman also took part in Azteco’s seed round.

Azteco aims to assist the unbanked through bitcoin solutions, with the startup’s founders convinced that “bitcoin presents a low-cost, secure, and flexible alternative to traditional banking that removes payer fraud and allows the unbanked population to store value, make purchases, and access credit without a traditional bank account.” In Thursday’s statement, Dorsey expressed his involvement stemming from an earnest admiration for the startup’s mission.

The principal executive officer of Block remarked:

The unbanked population is immense. We have the technology and resources to close this gap, but until now, no one has taken that important next step. Azteco is providing so much more than just access to a secure financial system; it is building an ecosystem of financial self-determination that is secure and supported by local communities. I am honored to support them.

Founded in 2014, Azteco’s voucher system has enabled users to save, spend, and transfer small bitcoin amounts. “This investment is a catalyst to help us achieve our mission of bringing unconditional financial freedom and control to the next billion users,” Paul Ferguson, the co-founder of Azteco stated. “This funding will fuel our market activation and product refinement efforts, enabling us to reach consumers more effectively, to develop deeply intuitive products and empower individuals worldwide to participate in global commerce regardless of their financial or technical experience level.”

#feedfeverchallenge #crypto2023 #Binance #BTC #BNB

From the beginning of this year, the crypto economy has surged by 41.77%, reaching a current market capitalization of $1.17 trillion. However, amidst this growth, the stablecoin economy experienced a substantial loss of $7.3 billion within a span of 140 days.

Stablecoins Experience a Significant Shift

As per the latest data, the stablecoin economy has witnessed a $7.3 billion decline in value in 2023. Archived records indicate that on January 6, the stablecoin economy stood at a valuation of $138.12 billion, but as of today, it has dwindled to $130.79 billion. Notably, numerous stablecoin projects experienced substantial redemptions in the past four months, with USDC alone shedding over $14 billion. Similarly, BUSD suffered redemptions exceeding $11 billion since the first week of January, while DAI faced redemptions amounting to $361 million.

While USDC and BUSD experienced redemptions exceeding $7.3 billion in 2023, a few other stablecoin projects managed to counterbalance these losses with growth. Take TUSD, for instance, which started the year with a market capitalization of approximately $846.57 million. Today, this stablecoin boasts a market valuation of $2.04 billion, indicating a growth rate of 140.97%.

Similarly, tether (USDT) witnessed a substantial increase in its market cap. Back in the first week of January, USDT stood at $66.29 billion, but it has since surged by over 25%, reaching $82.95 billion. Back on January 6, 2023, the stablecoin economy recorded $27.11 billion in 24-hour trade volume. However, fast forward to May 21, 2023, and the volume of the dollar-pegged token market has dipped considerably, settling at a comparatively modest $10.77 billion.

Although the current volume may appear smaller, the $10.77 billion worth of stablecoin trades still represents a significant portion, accounting for 57.9% of the total 24-hour trading volume within the entire crypto economy. On the other hand, when the dollar-pegged token volume reached $27.11 billion, it accounted for 81.36% of the day’s global trade volume (on Jan. 6, 2023) across the 12,775 listed crypto assets on coingecko.com at that time.

#feedfeverchallenge #crypto2023 #BTC #dyor #BNB

Although Bitcoin’s network transaction fees have decreased and a portion of the unconfirmed transfer backlog has diminished, the protocol still grapples with over 289,000 transactions awaiting confirmation. As of this writing, more than 218 blocks must be processed to fully alleviate this congestion.

Bitcoin’s Lingering Transaction Backlog

Data collected on May 20, 2023, at 1:35 p.m. Eastern Time reveals approximately 289,385 unconfirmed BTC transactions lingering in the backlog. This is slightly lower than the figure recorded nine days earlier on May 11, when just over 300,000 transactions were pending miner confirmation. However, fees have fallen since then; at that time, a high-priority fee was $3 per transaction.

Currently, mempool.space statistics indicate that a high-priority fee stands at $1.81 per transaction, while a medium-priority fee costs $1.62. A low-priority transfer, according to the site’s data, will amount to $1.47 per transaction on Saturday afternoon. Meanwhile, metrics from bitinfocharts.com show the average BTC transaction fee as 0.00023 BTC per transaction, or $6.07. Concerning median-sized transaction fees on the Bitcoin network, bitinfocharts.com reports a fee of around 0.00013 BTC or $3.55 per transfer.

The persistence of Bitcoin’s unconfirmed transfer backlog has led some to speculate that demand may eventually wane. Yet others argue that demand could endure for an extended period owing to Ordinal inscriptions and BRC20 tokens‘ existence. Presently, about 8,128,158 inscriptions can be found on the Bitcoin blockchain. Moreover, the current value of the 24,677 BRC20 tokens in existence is an estimated $592 million.

Despite the ongoing inscription and token trend occurring on Litecoin and Dogecoin blockchains as well, minting and transactions linked to inscriptions and BRC20s have not decelerated on the Bitcoin network. Furthermore, the Lightning Network (LN) capacity has consistently declined since our last report on the issue, which indicated the LN held 5,415 BTC on May 14. That figure has since contracted to 5,367 BTC.

#feedfeverchallenge #Binance #BTC #crypto2023 #dyor

XRP was marginally lower on Saturday, as bulls seemingly secured gains, following a recent six-day winning streak. The token, which has risen by nearly 10% in the past week, remains close to a three-week high. Polkadot remained in the green to start the weekend.

XRP

XRP, formerly ripple, remained close to a multi-week high to start the weekend, despite bulls moving to secure recent gains.

Following a peak at $0.4738 on Friday, XRP/USD declined to a bottom at $0.4627 earlier in the day.

Despite the decline, XRP remained close to its strongest point since April 30, when the price reached a top of $0.4818.

Looking at the chart, one of the catalysts of the move appeared to be a breakout on the relative strength index (RSI).

The index moved beyond the ceiling of 54.00, and as of writing, is now tracking at 56.09.

Bulls are likely targeting the $0.4800 mark, and could reach it this weekend, should the RSI move towards its next point of resistance at 59.00.

Polkadot (DOT)

In addition to XRP, Polkadot (DOT) extended its own gains on Saturday, as the token rose for a second straight session.

DOT/USD climbed to a high of $5.41 to start the weekend, following a low at $5.33 the day prior.

Saturday’s move comes as polkadot continued to move away from a recent support point at $5.30.

The slight increase in price has also led to the RSI moving towards resistance at 42.00, which is acting as an obstacle to further bullish pressure.

There is a good chance that DOT could make a run towards $6.00, should this current ceiling give way.

#feedfeverchallenge #Binance #BTC #crypto2023 #dyor