Axie Infinity (AXS) Price Analysis: Falling Channel Pattern Extends Correction Phase for AXS Price; Buy, Hold Or Sell?

A falling parallel channel pattern is leading the correction rally in the Axie Infinity (AXS) price. Though this falling pattern is now stretching the down rally, a bullish breakout from its resistance trendline could begin a new rally in the AXS coin. The coin price currently trading at $77.4 has so far discounted by 53% from the All-Time High of $164.

Key technical points: 

  • The AXS price could retest 200 MA line as resistance
  • The 4-hour-MACD indicator shows a bearish crossover among the MACD and signal line
  • The intraday trading volume in the AXS token is $469.3 Million, indicating a 4% fall.

Source- Tradingview

The AXS price initiated a correction rally after rejecting from the $160 resistance level. The technical chart shows a steady downtrend with a lower high and lower low, resonating inside a falling parallel channel pattern.

Until this pattern is intact, the coin price will continue the downtrend and drop to even lower levels. On a contrary note, falling channel patterns are known to begin a strong bullish rally once the price breaks out from its dynamic resistance.

However, the AXS price has recently plunged below the 200 MA line, and the price action shows a bullish reversal might retest this MA line in search of sufficient supply.

AXS Price Analysis: 4-hr Chart

Source-Tradingview

From the new lower low of $65.3, The AXS price has pumped 20% in just one week. The price is currently approaching the overhead resistance of the falling channel. The crypto traders should closely watch the price action at this resistance as a rejection or breakout from this pattern could extend or end the correction phase respectively. 

The Moving average convergence divergence indicator shows the MACD and signals moving above the neutral, suggesting a bullish sentiment. However, a bearish crossover among these lines and the diminishing green faded bars in the histogram chart hints buyers are gradually losing momentum.

The technical chart suggests the important resistance levels for AXS price is at $79.5, followed by $91.2. Meanwhile, the support levels are $65.5 and $49. 

The post Axie Infinity (AXS) Price Analysis: Falling Channel Pattern Extends Correction Phase for AXS Price; Buy, Hold Or Sell? appeared first on CoinGape.

Bitcoin, Ethereum, Monero Hashrates Tap Lifetime Highs — Dash, ETC, LTC Hashpower Lower Than Prior ATHs

Bitcoin, Ethereum, Monero Hashrates Tap Lifetime Highs — Dash, ETC, LTC Hashpower Lower Than Prior ATHs

During the first month of 2022, both Bitcoin and Ethereum’s hashrates have climbed to all-time highs (ATHs). While Bitcoin’s hashpower surged to over 200 exahash per second (EH/s), Ethereum’s hashpower jumped to over 1 petahash per second (PH/s). A few mineable digital asset networks, however, saw their hashrates decline since their ATHs and the processing power behind these protocols hasn’t returned back to the highs captured long ago.

While Some Hashrates Skyrocket, Processing Power From Other Crypto Networks Remains Lackluster

At the time of writing, Bitcoin’s processing power is coasting along above the 200 exahash per second (EH/s) zone, after touching the ATH it captured on January 15. Six-month hashrate statistics indicate that on Sunday, January 16, 2022, BTC’s hashrate tapped a daily high of 216.50 EH/s.

The top three mining pools on Monday, January 17, include F2pool, Foundry USA, and Antpool, respectively. All three pools have more than 15% of the global hashrate or 29 EH/s of hashpower.

Six-month and all-time metrics also show that Monero’s network hashrate is coasting along at all-time high records as well, with about 3.49 gigahash per second (GH/s) at press time.

In close to four days’ time, Bitcoin’s network difficulty is expected to increase 6.24% which will bring the network difficulty to an all-time high. The estimated difficulty after the next epoch change will be around 25.89 trillion, according to data at the time of writing.

Ethereum’s network hashrate is also managing to hold the 1 PH/s range after first tapping this goal in December 2021. The top mining pool on the Ethereum network is ethermine.org with 295 terahash per second of hashrate, and the percentage of ETH hashrate on Nicehash is 3.66%.

While networks like Bitcoin, Ethereum, and Monero have seen all-time highs, networks like Litecoin have not seen new hashrate ATHs in recent times. LTC’s network hashrate on Sunday is 368.96 TH/s, but during the first week of July 2019, LTC’s hashrate tapped an ATH at 468.50 TH/s.

Today, Dash has a hashrate of around 5.24 PH/s, but in September 2020 it hit 7.14 PH/s. In total, that’s a 26.61% decrease in the network’s hashpower in 16 months.

The Ethereum Classic network has an overall hashrate of 20.37 TH/s on January 17, which is lower than the network’s ATH in June 2021 at over 23 TH/s.

What do you think about Bitcoin, Ethereum, and Monero’s recent hashrate highs? What do you think about the networks that have not returned to ATHs reached months ago? Let us know what you think about this subject in the comments section below.

IdoWallet To Launch With 50% Tokens Sold Out

Idowall project continues to grab attention, as the pre-sale continues to dominate with 50%+ tokens sold out already.

After the recent starting of the $WALL token pre-sale round, Idowall’s massive demand left 50% sold out within no time.  

On the other hand, the Idowall team continues to focus on the development, with the preparation for the IdoWallet launch continuing.

Thereafter the Idowall team aims for the listing on major names during the first quarter of the year. This will be a price of $2, a further announcement is expected soon.

The Idowall platform enables users to manage, research, and quantify their current and future Initial Dex Offerings (IDO’s) and Token Presales in the Cardano Ecosystem.

IdoWallet is an exclusive application that allows users to store their private keys to send, receive, and spend digital currency under the Cardano Ecosystem. In addition, users can browse and use DeFi applications and even more.

Notably, IdoWallet will enable users to stake $WALL tokens to farm and earn more ADA or stake ADA to earn more $WALL tokens. More so, Idowall’s utility token $WALL will power the IdoWallet.

$WALL as a Utility token will be used to pay for transactions charges and also serve as pairs for trading other Cardano token on IdoWallet.

The team at IDOWALL is working indefatigably to list $WALL token at a benchmark of 2 USD on exchanges amid first quarter of 2022 while launching IDOWALL Launchpad on mainnet.

Features of IdoWallet

IdoWallet will be the most user-friendly wallet for both newbies and professionals, such that it serves as a basic crypto guide into the world of crypto for entry beginners. Below are some of the features of IdoWallet.

1. Staking and Liquidity: With IdoWallet, you can be able to stake and provide liquidity on Cardano tokens.

2. User-friendly and Faster Cardano Transactions: One of the features of the IdoWallet is that the IdoWallet application poses user-friendly and faster Cardano transactions. This feature indicates that users who look to open their first digital asset wallet can use IdoWallet.

3. Two-factor authentication and password protected: The platform enables two-factor authentication (2FA) and a password-protected feature that helps to safeguard from hacking attacks on users’ accounts. Added to this, the platform ensures that no scammers would be able to access the funds or assets of users.

4. Low transaction fees: The IdoWallet offers low transaction fees compared to other cryptocurrency wallets present in the crypto space. The transaction fee will be paid in $WALL.

5. Allows instant transactions across geographies: IdoWallet provides seamless and instant exchange and transfer services. This indicates that users can transfer their crypto without any time delay associated.

Furthermore, IdoWallet is a wallet to execute trading Cardano tokens. It is simple to use as it aims to make trading easy and possible for everyone.

Above all, the wallet offers low-cost fees. And trading on the wallet is relatively fast and users can quickly execute buy and sell orders.

$WALL token pre-sale round

The seed sale round ended some days ago and the pre-sale round is live now, with 50% of the tokens going sold out thus far.

Users can participate on $WALL Pre-Sale Round by visiting the $WALL token sale page.

Pre-sale details

  • Token Allocation- 1,500,000 (15%)
  • Token Sale Price- 1 ADA = 12.5 WALL
  • Minimum Buy- 100 ADA
  • Maximum Buy- 10,000 ADA
  • $WALL token will be send to user’s wallet immediately 

About Idowall

Idowall is based on the Cardano ecosystem blockchain to provide fans access to numerous IDO and pre-sale listings of Native Cardano Tokens. This will be through several launchpads that show extensive analytics and comparison tools in a simple but concise interface.

Find Idowall on social media: Twitter | Telegram | Medium |

The post IdoWallet To Launch With 50% Tokens Sold Out appeared first on BeInCrypto.

Singapore Monetary Authority Restricting Crypto Ads From General Public

The Monetary Authority of Singapore (MAS) issued guidelines limiting the promotion of cryptocurrency trading service providers to the general public. 

“MAS strongly encourages the development of blockchain technology and innovative application of crypto tokens in value-adding use cases,” said MAS Assistant Managing Director (Policy, Payments and Financial Crime) Loo Siew Yee. “But the trading of cryptocurrencies is highly risky and not suitable for the general public.” 

Consequently, service providers for digital payment tokens (DPT) have been instructed to “not portray the trading of DPTs in a manner that trivializes the high risks of trading in DPTs, nor engage in marketing activities that target the general public.” 

To preclude exposure to the general public, the guidelines also clarified that DPT services should not be promoted in public areas or through third-party engagement, such as social media influencers. These services may now only be advertised through their own corporate websites, mobile applications or official social media accounts.

Crypto in Singapore

Singapore has been working to position itself as a global hub for the development of blockchain technology and cryptocurrencies. Last year, MAS Chairman Tharman Shanmugaratnam said  “there may be a role for crypto in future finance that extends beyond pure speculation and illicit finance.” 

Its efforts to create a clear regulatory and operating environment, including a formal licensing framework, have drawn crypto companies from around the world. Crypto companies have been able to apply for operating licenses under the Payment Services Act in Singapore since January 2020. While almost 20% of applications have been withdrawn or rejected for not meeting AML standards, many firms have been granted exemptions.

However, authorities are still trying to balance the benefits that come with financial innovation with the risks posed to retail traders by the volatile virtual assets. Late last year, Binance Singapore formally withdrew its application to operate as a licensed crypto exchange in the country.  Additionally, some billboards advertising digital-asset exchanges last year have since been removed.  

What do you think about this subject? Write to us and tell us!

The post Singapore Monetary Authority Restricting Crypto Ads From General Public appeared first on BeInCrypto.

OpenSea Sets New ATH For Monthly Trading Volume, Surpasses $3.5B in ETH

OpenSea sets new ATH for monthly trading volume in ETH

Just two weeks into 2022, NFT marketplace OpenSea has seen its monthly trading volume for Ether (ETH) surpass the Aug. 2021 ATH of $3.42 billion. According to Dune Analytics data, the marketplace has now set a new all-time, after its trading volume for Ether crossed the $3.5 billion mark.

A Bright Start To The Year For NFTs and OpenSea

So far in the year, there has been an upsurge in NFT trading volumes. But this might not be unrelated to the price increase in the popular Bored Ape Yacht Club (BAYC) NFT collection and its sister collections — the Bored Ape Kennel Club (BAKC) and the Mutant Ape Yacht Club (MAYC). The BAYC alone, for instance, traded about 14,306 ETH in the past 24 hours. At the time of writing, that’s worth about $47 million in trade volume for the most popular NFT collection.

Also, per Dune Analytics data, OpenSea recorded its largest single-day volume ($261 million dollars) on January 9, breaking $150 million in trading volume for each day so far in January.

Competition Maybe?

Meanwhile, OpenSea’s long reign as the leading NFT marketplace might be under some form of a threat now. With many competitions rising from different angles, a notable player would be LooksRare — a new NFT marketplace launched earlier in January. Dune Analytics’ data suggests that LooksRare is already outpacing OpenSea in terms of trading volumes.

Now, this is despite OpenSea’s best efforts to remain at the top.

The firm had also announced a $300 million Series C funding round that was led by VC firms Paradigm and Coatue early in the year. That funding brought its valuation to $13.3 billion as it looks to use the funds to enlarge its team and improve its product offerings.

Surely, NFTs are showing no signs of slowing down in 2022 as its adoption continues to grow unbelievably, even into unexpected spaces globally.

The post OpenSea Sets New ATH For Monthly Trading Volume, Surpasses $3.5B in ETH appeared first on CoinGape.

PlaceWar Co-Founder Myrtle Anne Ramos Talks Gamified Internet Culture, Metaverse and Play-to-Earn

PlaceWar is a decentralized strategic play-to-earn game universe deployed on a multi-chain with highly engaging artillery gameplay that allows players to create and define the outlook of the in-game world through building, battles, and alliances.

Myrtle Anne Ramos is the Co-Founder and CEO of PlaceWar. She recently joined the Bitcoin.com News Podcast to talk about the game:

Myrtle Anne Ramos is the founder of the Award Winning PR Firm of 2020 by PitchDeck Asia (Marketing, Growth Hacking, Sales, Social Media Management, Giving opportunities to people, Media Distribution Services, Investor Relations, Public Relations) Official Influencer of CoinMarketCap. A scholar graduate of Draper University for Blockchain & Entrepreneurship powered by Tezos. She is currently the VP of Growth & Partnerships of GokuMarket.

Follow the project on: Twitter Telegram Telegram ANN Facebook LinkedIn Discord Youtube TikTok Reddit LinkTree


The Bitcoin.com News podcast features interviews with the most interesting leaders, founders and investors in the world of Cryptocurrency, Decentralized Finance (DeFi), NFTs and the Metaverse. Follow us on iTunes, Spotify and Google Play.


This is a sponsored podcast. Learn how to reach our audience here. Read disclaimer below.

 

Fantom (FTM) Reaches Highest Ever Daily Close

Fantom (FTM) barely failed to reach a new all-time high and dropped afterwards. It is currently searching for support.

FTM has been moving upwards at an accelerated rate since Dec 30, when it validates the previous descending resistance line as support. The upward movement led to a high of $3.37 on Jan 17. While this was just short of the all-time high of $3.48, the Jan 16 close was the highest in history.

Currently, FTM is trying to hold on above the $3.15 horizontal area. The area previously acted as resistance and is expected to act as support. Therefore, the current daily close is important for the future trend. A close above this level would validate the area as support and likely lead to a new all-time high price.

FTM Movement
Chart By TradingView

Cryptocurrency trader @George1Trader tweeted an FTM chart, stating that the token could increase towards a new high above $4. Since the tweet, the token has increased, but just failed to reach a new all-time high.

FTM Movement
Source: Twitter

Future FTM movement

However, the six-hour chart indicates that a short-term downward movement could transpire prior to the continuation of the ongoing increase. 

The main reason for this is the bearish divergence that has developed in both the RSI and the MACD (green lines). This often precedes downward movements. 

If a decrease occurs, the main support area would be between $2 – $2.26, the 0.5-0.618 Fib retracement support level. 

This would be an ideal place for FTM to create a higher low and then resume its upward movement.

FTM Short-term
Chart By TradingView

There is considerable overlap in the downward movement between Oct and Dec 21 (highlighted). Therefore, it is likely that the decrease was a correction, while the ongoing increase is the beginning of a new long-term upward movement. 

As a result, if FTM eventually reaches a new all-time high, the next closest resistance area would be at $4.85. The area is found using the 1.61 external Fib retracement level on the aforementioned decrease.

FTM Correction
Chart By TradingView

For BeInCrypto’s latest Bitcoin (BTC) analysis, click here.

The post Fantom (FTM) Reaches Highest Ever Daily Close appeared first on BeInCrypto.

Ethereum (ETH) Price Dives Below $33K, More Downside Is Visible

Ethereum Price Analysis: Bloodbath On Crypto Market Triggers Fallout From Descending Wedge Pattern

Ethereum’s (ETH) price fell today as the overall crypto market traded in the red. Further, ETH hovers in the consolidating range for the past few sessions. Sellers remain hopeful below the important moving average crossover.

  • Etherum (ETH) head towards a 20% correction from the current levels.
  • ETH price could test January 10 Low line soon with a possible pennate break to the downside.
  • The remote support of $2,928 would ask sellers to test September lows of $2,650.

ETH looks for 30% devaluation upon pennate breakdown

Ethereum (ETH) price takes round in a tight trading range inside pennant formation with signals pointing to the downside as bulls fail to hold onto the recent gains extending from the lows of January 9. However, the fight between market forces keeps prices swinging in the range of $32k and $34k.

Source: Trading view

A pennant could either breakout above or below, still bears hold the dominance while taking the clues from the technical momentum oscillators. The volume rises along the fall in prices at $10,526,745,621 with gains of around 11%.

The MACD (Moving Average Convergence Divergence) holds below the midline with a neutral stance. However, the daily Relative Strength Index (RSI) trades at 38 with a bearish crossover. The technical setup favors the bearish scenario. The low of today touches the lower trend line of the pennant, a daily close below this level would strengthen the bearish outlook for the altcoin for the short term.

Alternatively, if bulls miraculously moved back to the bearish slopping line of the channel and touched 200-EMA (Exponential Moving Average) then bulls will become hopeful to touch $36k as the immediate upside target.

 

 

 

The post Ethereum (ETH) Price Dives Below $33K, More Downside Is Visible appeared first on CoinGape.

FTM Price Prediction: Fantom (FTM) Price Aims to Break Last ATH ($3.48) If It Completes Cup And Handle Pattern

FTM Price Analysis: Christmas Rally Shine Upon Fantom Coin

The Fantom (FTM) price has almost completely recovered from the last correction initiated during the end of October 2021, the coin price has also provided a bullish breakout from the cup and handle pattern, with the neckline at $3.17. Sustaining this level, the FTM price would take off to retest new levels. 

Key technical points: 

  • FTM price has gained around 50% from last week
  • The daily RSI chart displays a bearish divergence.
  • The intraday trading volume in the FTM coin is $1.6 Billion, indicating a .5.4% gain

Source- Tradingview

Recently when we covered an article on Fantom coin, the recovery rally in the FTM/USD technical chart revealed a cup and handle pattern. For the past few days, the price was at the doorstep of a $3.17 neckline, struggling to surpass this resistance.

However, on January 16th, the price finally managed to break out from this overhead resistance, and for the first time, provided a daily candle closing above the $3.17 mark.

The FTM bulls have reclaimed the crucial EMA levels(20, 50, 100, and 200), indicating a bullish alignment in its daily chart. The crypto traders can use these EMA lines as support during bearish pullbacks.

The daily Relative Strength Index (62) moving above the neutral line and 20-SMA indicates a bullish sentiment. However, the FTM price chart also displays a bearish divergence, creating some doubt for this bull run.

Fantom Coin Price Currently In A Retest Phase

Source- Tradingview

As for today, the FTM price trying to sustain above its new support zone of $3.12-$3.17. If the price shows sufficient sustainability in this retest, the price would start to rally again, and according to the trend-based Fibonacci extension levels, the next supply zone in this chart is at $3.75 and $4.47-$4.5.

The average directional movement index(23) dropped significantly during the bearish pullback for forming the handle portion of the cup and handle pattern. The ADX slope would rise again with the price action following up the bullish breakout of $3.17.

  • Resistance levels- $3.5, and $4.5
  • Support levels-$3.12 and $2.8

The post FTM Price Prediction: Fantom (FTM) Price Aims to Break Last ATH ($3.48) If It Completes Cup And Handle Pattern appeared first on CoinGape.

Report: Walmart Trademark Filings Hint at Retailer’s Intent to Produce Metaverse and NFT Concepts

According to a recent report, the American multinational retail corporation that operates a chain of department stores, Walmart Inc., is seemingly prepping to enter the industry of non-fungible token (NFT) technology and metaverse concepts.

Walmart USPTO Trademark Filings Are Littered With Descriptions of NFTs, Blockchain Tech, Digital Collectibles, Metaverse, and Virtual Department Store Games

  • On January 16, CNBC contributor Lauren Thomas published a report that says “Walmart is quietly preparing to enter the metaverse.” That’s according to seven filings stemming from the U.S. Patent and Trademark Office (USPTO).
  • The trademark filings discuss cryptocurrency solutions, blockchain technology, and non-fungible token (NFT) assets. One specific filing describes downloadable software that can leverage digital currencies and concepts like augmented reality.
  • In a statement sent to Thomas, Walmart told the reporter that the multinational retail corporation is “continuously exploring how emerging technologies may shape future shopping experiences.” However, Walmart declined to tell Thomas about the seven specific trademarks.
  • “We are testing new ideas all the time,” a Walmart spokesperson said to the reporter. “Some ideas become products or services that make it to customers. And some we test, iterate, and learn from.”
  • Another Walmart USPTO filing talks about a virtual reality (VR) game that features a virtual version of a Walmart store and a great number of goods the retail chain sells. The virtual items or NFTs could represent healthcare items, personal care products, patio furniture, electronics, appliances, apparel, and sporting goods.
  • The filing follows Walmart looking to hire a “digital currency and cryptocurrency product lead” in mid-August 2021. “As digital currency/ cryptocurrency lead at Walmart you will be responsible for developing the digital currency strategy and product roadmap,” the Walmart job listing said at the time.
  • Walmart follows a myriad of retailers and well known brands trying to capitalize on metaverse concepts, NFT tech, and Web3. Companies that have jumped headfirst into the growing blockchain industry include Samsung, Gap, Adidas, Nike, Hennessy, Coca-Cola, and Pepsi-Cola.
  • The companies Crocs, Urban Outfitters, Ralph Lauren, and Abercrombie & Fitch have also filed USPTO trademarks tied to digital collectibles and blockchain technology.
  • The seven trademarks are not the only trademarks and patents Walmart has filed that discuss blockchain technology and cryptocurrencies. In August 2019, it was discovered that Walmart filed a patent that talks about the creation of a stablecoin concept.
  • “The digital currency may be pegged to the U.S. dollar and available for use only at selected retailers or partners. In other embodiments, the digital currency is available for use anywhere. The digital currency can provide a fee-free, or fee-minimal place to store wealth that can be spent, for example, at retailers and, if needed, easily converted to cash,” Walmart’s 2019 filing explains.

What do you think about Walmart’s seven trademarks that discuss blockchain tech, NFTs, and crypto assets? Let us know what you think about this subject in the comments section below.