#multichain This eagerly anticipated event presents an incredible opportunity for developers, creators, and projects to secure funding for their innovative initiatives.

The official announcement urges all enthusiasts to mark their calendars for this significant event. Whether you’re an established participant or a newcomer, GG18 promises to be an inclusive and impactful crowdfunding initiative.

📆SAVE THE DATE 📆 🎉Gitcoin Grants 18: Aug 15-29, 2023🎉 Mark your calendars for #GG18! Applications open on August 1st – be on the lookout for more details to follow 🫡 Let’s Fund What Matters. Together 🍃 pic.twitter.com/4eYiJHbpo1

— Gitcoin 🟢 (gitcoin) July 19, 2023

Gitcoin, known for its commitment to supporting open-source projects and the broader Ethereum ecosystem, is gearing up to open applications for GG18 starting on August 1st. This presents a unique chance for individuals and teams to get their ideas and projects in front of a supportive community and secure financial backing for their visions.

The event aims to foster collaboration, growth, and progress in the blockchain and #cryptocurrency space. Gitcoin’s vibrant ecosystem attracts developers and creators from all corners of the world, creating a diverse and dynamic community united by a shared goal: to Fund What Matters.

With a history of successful rounds, GG18 is expected to be a catalyst for groundbreaking projects that push the boundaries of what’s possible in the decentralized space. The platform enables backers and sponsors to contribute directly to projects they believe in, making a tangible impact on the growth of the #blockchains ecosystem.

As the application date draws near, the Gitcoin team is working diligently to provide aspiring participants with all the necessary information and guidance to ensure a smooth and successful process. Be on the lookout for additional details and resources to make the most of this opportunity.

Gitcoin Grants represents more than just a fundraising mechanism; it embodies the spirit of collaboration and community-driven development. It brings together like-minded individuals and organizations, fostering connections that go beyond financial support.

DISCLAIMER: The Information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your own research before investing.#Binanceturns6

Enormous amounts of money, totaling tens of millions of dollars, have been unexpectedly withdrawn from #multichain $MULTI raising concerns of a potential security breach. This unprecedented occurrence has caught the attention of industry experts, prompting intense speculation and analysis. Brace yourself as we delve into the gravity of this situation, uncovering the vast sums involved, the tokens at stake, and the potential implications for the wider cryptocurrency ecosystem.

The Unveiling of the Multichain Bridge's Losses

The Multichain Bridge, a crucial component of the Fantom network, has become the center of attention due to the staggering sums that have been withdrawn. Let's explore the mind-boggling figures associated with this incident:

$58 Million in $USDC Within the Multichain Bridge, an astounding $58 million worth of the renowned stablecoin USDC has vanished.

1020 $WBTC In addition to the USDC, an impressive 1020 bitcoins, valued at a staggering $30.9 million

7200 $WETH Furthermore, an equivalent of $13.7 million has been withdrawn in the form of 7200 ether, skillfully wrapped within the Multichain Bridge.

$4M $DAI Among the withdrawn funds, we find $4 million worth of the stable currency DAI.

Highly Sought-after Tokens: Alongside these substantial sums, the Multichain Bridge also hosted various highly sought-after tokens. These include Chainlink, Curve DAO, YFI, Wootrade Network, and astonishingly, almost a quarter of the entire UniDex supply. The presence of such valuable tokens further amplifies the significance of this incident.

Speculations and Possible Security Breach

The withdrawal of such colossal amounts has given rise to intense speculation among industry experts. Many are pointing towards a potential security breach as the cause behind this unexpected turn of events. The exact circumstances and individuals responsible remain uncertain at this stage, but the ramifications could be far-reaching.

The possibility of a security breach raises concerns regarding the vulnerability of blockchain networks and the need for enhanced security measures. The incident serves as a stark reminder that even the most advanced technological systems are not impervious to risks and vulnerabilities.

#multichain The Shiba Inu (SHIB) price fell below a long-term pattern at the beginning of June, suggesting that the price is in a long-term bearish trend.

Despite the long-term breakdown, the SHIB price fell from a short-term descending resistance line. Therefore, the long-term readings are not in alignment with the short-term ones.

#Shiba Inu Price Struggles to Reclaim Lost Long-Term Pattern

According to the technical analysis conducted on a weekly timeframe, the #ShibaInu price is facing a strong bearish outlook. This prediction is based on the breakdown of a symmetrical triangle pattern that had been forming since June 2022.

The breach of this pattern, after being in place for 350 days, typically leads to sustained downward movements. After the breakdown, the price briefly found support at $0.0000060, a level not seen since the end of 2021.

Read More: 9 Best #crypto Demo Accounts For Trading

However, the triangle’s support line ultimately rejected it, indicating a continuing bearish trend. The importance of the rejection is increased since the triangle’s support line also coincides with the $0.0000080 horizontal resistance area.

SHIB/USDT Weekly Chart. Source: TradingView

Furthermore, the weekly Relative Strength Index (RSI), a commonly used momentum indicator, supports the bearish sentiment. Traders often rely on the RSI to determine whether a market is overbought or oversold and make decisions accordingly.

In this case, the RSI reading is currently below 50 and declining, indicating a bearish trend.

Read More:Top 9 Telegram Channels for Crypto Signals in 2023

SHIB Price Prediction: Will Price Manage to Break Out?

Unlike the weekly time frame, the price movement and RSI indicator analysis on the daily time frame show a bullish trend.

Since February, the SHIB price has been consistently below a descending resistance line, indicating a bearish trend. The rejection of the line on June 22 supported this trend.

Additionally, during the same period, the daily RSI was rejected at the 50 line (red circle), which supports the validity of the bearish trend.

However, the SHIB price broke out from the resistance line on July 13. Moreover, the RSI moved above 50 during this time.

If the increase continues, the SHIB price can move to the 0.5 Fib retracement resistance level at $0.000010.

SHIB/USDT Daily Chart. Source: TradingView

However, it’s worth noting that if the $SHIB price falls below the resistance line, it will invalidate the breakout.

In that case, it can decrease to the next closest support area at $0.0000050.#BinanceTournament

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Please note that trading involves risks, and it is essential to exercise caution and start with a risk amount that you can afford to lose.

Step 1: Setting Up the Binance Futures Account on Your Smartphone

Download and install the Binance Futures mobile app from the official app store on your smartphone.

If you already have a Binance account, log in with your credentials. If not, create a new account and complete the verification process as required.

Step 2: Depositing Funds

Deposit $100 into your Binance account using the "Deposit" option and select USDT as the deposit currency.

Step 3: Understanding the 50 Moving Average Strategy

The 50 Moving Average (MA) is a commonly used technical indicator that helps traders identify trends and potential entry/exit points.

When the price of an asset (in this case, BTC/USDT) crosses above the 50 MA, it is considered a bullish signal, indicating a potential uptrend. Conversely, when the price crosses below the 50 MA, it is seen as a bearish signal, indicating a potential downtrend.

Step 4: Entering a Long (Buy) Trade

Open the Binance Futures app and select the BTC/USDT trading pair.

Choose the 1-hour time frame to analyze the price movements effectively.

Look for the BTC/USDT price to cross above the 50 MA on the 1-hour chart, confirming a bullish trend.

Once the bullish crossover occurs, enter the trade by selecting "Long" (Buy).

Specify the trade size (e.g., 10% of your account balance, i.e., $10).

Set a stop-loss level to limit potential losses if the trade goes against you. A conservative approach is placing the stop-loss just below the 50 MA or a recent support level.

Decide on a take-profit level, aiming for a profit of $10 per trade. You may want to place the take-profit level at a reasonable distance from your entry point to avoid getting stopped out too soon.

Step 5: Exiting the Long (Buy) Trade

Keep a close eye on the BTC/USDT price movement and monitor your trade's progress.

If the price reaches your predetermined take-profit level, the trade will automatically close, and you'll earn your target profit of $10.

If the price falls and hits your stop-loss level, the trade will close automatically, limiting your loss to the specified amount.

Step 6: Entering a Short (Sell) Trade

After completing a long trade, reset the analysis and look for the BTC/USDT price to cross below the 50 MA on the 1-hour chart, indicating a potential bearish trend.

Once the bearish crossover occurs, enter a short trade by selecting "Short" (Sell).

Specify the trade size (e.g., 10% of your account balance, i.e., $10).

Set a stop-loss level and take-profit level as per your risk management strategy, similar to the long trade.

Step 7: Exiting the Short (Sell) Trade

Monitor the price movement, and if it reaches your predetermined take-profit level, the trade will automatically close, securing your target profit of $10.

If the price rises and hits your stop-loss level, the trade will close automatically, limiting your loss to the specified amount.

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