Jul 6, 2024

$SOL

According to U Today. Tangem, a leading name in hardware wallet technology, and Visa, a giant in the card payment industry, have announced their most advanced collaboration to date. This integration aims to bridge the gap between cryptocurrency and traditional fiat payments, as well as the Web2 and Web3 B2C economic models.
In a major step forward, Tangem has unveiled a new Web3 platform designed for decentralized payments, now integrated with Visa's powerful payment system. Andrey Lazutkin, CTO of Tangem, explained that this development allows users of hardware wallets to utilize their crypto holdings seamlessly for everyday transactions:
"Users of any wallet can now open a decentralized account and obtain a non-custodial card for managing and making transactions," Lazutkin noted.

"Bridging traditional banking and digital assets.." https://t.co/HKrCesZi9R pic.twitter.com/JlBxAvlUaU— Chad Steingraber (@ChadSteingraber) July 5, 2024

While the exact release date for this product remains unspecified, it is anticipated to be available by the end of 2024. With an active patent approved by Visa until 2030, this innovative wallet technology will be marketed under the Tangem brand.
This development follows Visa's advancements in its stablecoin settlement infrastructure on Ethereum, starting from Q4 2023. The stablecoin USDC by Circle, which is the second-largest by market cap, has been central to Visa's cross-border money transfer architecture.
Cuy Sheffield, Visa's head of crypto, emphasized the significance of this new collaboration with Tangem for Visa's Web3 goals:
"We are thrilled to partner with Tangem to launch a new product that combines the convenience of a Visa card with the security of a hardware wallet. This integration allows users to spend their crypto or stablecoin balances at any merchant that accepts Visa," Sheffield stated.
This collaboration means that holders of over 50 cryptocurrencies supported by Tangem will be able to use their crypto assets directly at any Visa-enabled point of sale, both online and offline, just as they would with traditional bank-issued Visa cards.
#MarketNews #BinanceTurns7 #Binance #6thTrade #BTC☀
$ETH

#AXSUSTD $AXS

we will analyze the price action and patterns of the AXS/USDT trading pair, focusing on recent movements and potential future trends. The chart provided spans from early 2022 to mid-2024, showcasing various phases of price fluctuations.
Price Action Analysis
Recent Trend
As of the latest data point on the chart, AXS/USDT is trading at approximately $4.952. The overall trend in recent months shows a downward movement, which indicates a bearish market sentiment. This decline has led to the price approaching a critical support level highlighted in green.
Support and Resistance Levels
Support Level: The green horizontal line represents a significant support level around the $4.00 mark. This level has been tested multiple times in the past, particularly in mid-2022 and late-2022, and has held strong. The price is currently approaching this support level again.
Resistance Levels: The chart shows several resistance levels where the price has previously faced selling pressure. Notable resistance points include $10.00, $14.00, and $20.00. These levels are crucial for any potential bullish reversal.

Technical Patterns
Clustering and Dispersion
The chart includes various clusters and factors indicating significant price action points. These clusters are marked with red and green indicators, showing areas of concentrated trading activity and potential reversal points.
Market Sentiment
Given the persistent downward trend and the positioning of the moving averages, it is clear that the market sentiment for AXS/USDT is currently bearish. The critical support level around $4.00 will be essential to watch. If the price breaks below this level, it could signal further declines.
Potential Scenarios
Bullish Reversal: If the support level at $4.00 holds and the price manages to break above the 200-day moving average, a potential bullish reversal could occur. This scenario would need to be supported by increased trading volume and positive market sentiment.
Bearish Continuation: If the price breaks below the $4.00 support level, the bearish trend may continue. In this case, traders should watch for new support levels and further downside risks.
Disclaimer
This article is for informational purposes only and should not be considered financial advice. Cryptocurrency trading involves significant risk, and you should always conduct your own research and consult with a financial advisor before making any investment decisions.
$BEAMX

$BNX

The AXS/USDT trading pair is currently facing a crucial juncture. The critical support level at $4.00 will play a significant role in determining the future trend. While the market sentiment remains bearish, closely monitoring the price action and key technical levels will be essential for traders. Remember, we may potentially be in a bear market, so caution is advised.
#US_Job_Market_Slowdown #SOFR_Spike #BinanceTournament #6thTrade

The recent Litecoin (LTC) chart on the weekly timeframe shows significant bearish signals that traders may want to consider. Let's delve into the key aspects of this chart, focusing on indicators, price action, and the Simple Moving Average (SMA) to provide a deeper understanding. $LTC

1. Price Action & Trendlines
- Acending Trendline: The yellow upward-sloping trendline has been a key support level for Litecoin since late 2018, acting as a cushion for price dips. However, LTC recently broke below this line, suggesting potential weakness.
- Descending Triangle Pattern: A bearish descending triangle has formed, characterized by a horizontal support around the $50-$60 range and a descending upper trendline. This pattern typically signals a potential downward breakout.
2. Support and Resistance Levels
- Support Zone: The purple zone around $20-$30 has historically been a strong support area, marked by previous price consolidations and bounces. If the price continues to fall, this zone could be tested.
- Resistance Levels: Near-term resistance is evident around $80-$100, where the descending triangle's upper boundary converges with recent price peaks.
3. Moving Averages
- SMA 200: The 200-week Simple Moving Average is a crucial long-term indicator often watched by traders. Litecoin is currently trading below the SMA 200, which hovers around the $80-$85 mark. Trading below this level generally indicates a bearish trend.
4. Volume Analysis
- The volume bars indicate diminishing buying pressure, a red flag that could suggest a lack of conviction among bulls and a possible setup for sellers to dominate.
5. Key Indicators
- Moving Averages: The chart shows a bearish crossover where shorter moving averages dip below the longer ones, reinforcing the downtrend.
Given the bearish signals from the price action, the break below the ascending trendline, and trading under the SMA 200, Litecoin appears to be under selling pressure. The descending triangle pattern further supports the view that LTC could experience more downside. Traders should keep an eye on the key support levels and consider short-selling opportunities if the current conditions persist. Always ensure to set stop-losses to manage risk effectively.

This information is intended for informational purposes only and does not constitute financial advice

$BCH
$ETC
#LTCUSDT #MarketSentimentToday #US_Job_Market_Slowdown #IntroToCopytrading #6thTrade

Jul 4, 2024

According to Beincrypto - Today, about $1.54 billion in Bitcoin (BTCUSD) and Ethereum (ETHUSD) options are set to expire, creating a buzz in the crypto market. This event is expected to lead to significant price swings, so traders and investors are keeping a close eye on the market.
Analysts are predicting that the market will calm down after these options expire.
For Bitcoin, the expiring options are worth $1.04 billion, with 18,339 contracts set to expire. These contracts have a put-to-call ratio of 0.71 and a maximum pain point of $62,000. In options trading, the maximum pain point is the price level where option holders incur the most financial loss. The put-to-call ratio indicates there are more purchase options (calls) than sales options (puts).
$BTC

Ethereum has 162,782 contracts expiring, worth $501.12 million. These contracts have a put-to-call ratio of 0.37 and a maximum pain point of $3,350. According to analysts at Greeks.Live, recent market sell-offs have resulted in significant losses, with Bitcoin dropping to $57,000 and Ethereum to $3,100.
Additionally, data shows that Bitcoin's short-term implied volatility (IV) is up by 10%, and the Deribit Implied Volatility Index (DVOL) is up by 3%. Ethereum's parameters have increased slightly less than Bitcoin's. Skew values suggest a bearish market sentiment.
$ETH

Bitcoin and Ethereum prices have fallen sharply this week. On July 4, Bitcoin dropped from $60,000 to as low as $56,964 today, and is currently trading at $57,037. Similarly, Ethereum fell from $3,304 to $3,060, and is now valued at $3,083, down by 3.4% in the last 24 hours.

“BTC Block put volume is clearly on the rise, the distribution of transactions is more complex, the July 12 58,000 Put is the largest one. Looking at Options Data, whales are not too worried about potential downside risk at the moment and are mainly in the process of adjusting their positions for last week’s quarterly delivery, especially for ETH, where whales are showing low volatility expectations,” the Greeks.Live analysts said.

Experts attribute the recent decline in BTC and ETH prices to increased sell-offs from long-term holders, including governments. BeInCrypto reported that on-chain data shows the German government's crypto wallet moved 3,000 BTC, worth about $174.3 million, to various destinations, including major crypto exchanges like Bitstamp, Kraken, and Coinbase.
While options expirations can cause temporary market disruptions, they usually lead to stabilization. Analysts' insights emphasize the historical trends that traders might consider when planning their strategies. Ultimately, traders should stay alert, using technical indicators and market sentiment to navigate the expected volatility effectively.
$SOL

#OptionTrading #MarketSentimentToday #MarketNews #6thTrade

Jul 4, 2024

According to U Today, The cryptocurrency market has been experiencing a significant downturn, leading to massive liquidations and sharp declines in prices. XRP, the seventh-largest cryptocurrency by market capitalization, has not been immune to this sell-off. Over the past 24 hours, XRP’s price has fallen by 6.15%, trading at $0.4517. Despite the bearish market conditions, XRP has seen a remarkable 63% increase in trading volumes, with over $1.55 billion worth of XRP changing hands according to CoinMarketCap data. This surge in trading activity reflects a growing interest in XRP from both buyers and sellers navigating the market’s heightened volatility.
$OM

This surge in trading volume occurs amidst a broader context of market fear and opportunism. As the total liquidations across various digital assets reach $321 million, traders are reacting in diverse ways. Some are liquidating their positions to prevent further losses, while others are seizing the opportunity to accumulate assets at lower prices. XRP's increased trading volume suggests it is attracting significant attention during this period of market instability, potentially positioning itself as a focal point for traders seeking to capitalize on the price fluctuations.
$ZK

Looking ahead, XRP’s price movements are likely to be closely watched by the market. The immediate support levels are between $0.41 and $0.46, where bulls are expected to defend vigorously to prevent further declines. On the upside, the critical resistance level to monitor is the 50-day Simple Moving Average (SMA) at $0.503. If buyers can push XRP above this level, it could signal the start of a strong recovery towards the 200-day SMA at $0.554 and eventually the $0.57 mark. Traders and investors should keep a close eye on these key levels as they navigate the current market conditions.
$XRP

#Xrp🔥🔥 #Market_Update #BinanceNews #6thTrade #layer1layer2

Jul 3, 2024

In a major development for the cryptocurrency mining industry, Riot Platforms has announced a substantial increase in its hash rate, leading to a notable rise in Bitcoin production for June. The company reported a 50% jump in its deployed hash rate, which soared from 14.7 exahashes per second (EH/s) to an impressive 22 EH/s by the end of the month. This surge in computational power was a result of new miner installations at Riot's Corsicana facility and expanded capacity utilization at its Rockdale location.
Jason Les, CEO of Riot Platforms, hailed June as a "historic month" for the company. Les highlighted that the firm not only reached but exceeded its mid-year target, achieving a deployed hash rate of 21.4 EH/s ahead of schedule. This achievement was particularly significant as the majority of the new miners became operational in the closing days of June.


Riot's enhanced hash rate translated into the mining of 255 Bitcoin in June, a 20% increase compared to May. This output, valued at approximately $15.3 million based on current prices, has bolstered Riot’s total Bitcoin holdings to 9,334 BTC, equivalent to about $561.6 million. Unlike previous months, Riot decided to retain all of its newly mined Bitcoin, reflecting a strategic decision to strengthen its cryptocurrency reserves.
Despite this impressive growth, Riot's June Bitcoin production was down by 45% from the same period last year. This decline is attributed to the Bitcoin halving event on April 20, which reduced the block reward by half, directly impacting miners' earnings.
Riot Platforms has now positioned itself as the second-largest Bitcoin miner in the industry, overtaking competitors such as CleanSpark and Core Scientific, both of which have reported hash rates exceeding 20 EH/s. The only company ahead of Riot in hash rate is Marathon Digital, with a leading capacity of 31.5 EH/s.


Looking ahead, Riot is focused on further expanding its mining capabilities. The firm is on track to boost its self-mining hash rate capacity to 31.5 EH/s by the end of 2024. Riot also has ambitious plans to reach a staggering 100 EH/s by 2027, a target that hinges on its potential acquisition of additional MicroBT mining equipment.
The hash rate is a critical metric in the cryptocurrency mining world, representing the total combined computational power used to validate transactions on proof-of-work networks like Bitcoin. Riot's rapid expansion in this area underscores its commitment to remaining at the forefront of the Bitcoin mining sector.
As Riot continues to enhance its infrastructure and capabilities, the company is poised to play a pivotal role in the evolving landscape of cryptocurrency mining.
#BTC☀ #Market_Update #6thTrade #bitcoin☀️