Blockchain Progress

2023-07-04 20:13:01 Bitcoin, Technical Analysis: BTC Edges Closer to Fresh 1-Year High Above $31,000

Bitcoin moved back above the $31,000 level on July 4th, as U.S. traders celebrated the Independence Day holiday. As a result of the rally, the cryptocurrency remained near a one-year high in today’s session. Ethereum consolidated after Monday’s gains.

Bitcoin (BTC) moved closer to a fresh one-year high on Tuesday, as U.S. markets closed in celebration of the July 4th holiday.

Following a low of $30,586.51 to start the week, BTC/USD raced to an intraday peak of $31,375.61 earlier in the session.

The move saw bitcoin edge closer to last Friday’s high at $31,443, which was its strongest point since June last year.

The index is now tracking at 68.43 and appears to be heading for a support point at the 66.00 mark. Should it reach this point, there is a strong possibility that bitcoin will be trading around the $30,500 level. Open / Comment

2023-07-01 20:20:09 Bitcoin, Ethereum Technical Analysis: ETH Moves Above $1,900, Hitting a 2-Month High to Start July

Ethereum entered the month of July in the green, as price traded at a two-month high to start the weekend. Markets moved to rebound on Saturday, after better than expected consumer sentiment data in the United Stated spooked traders. Bitcoin also rebounded, after falling below $30,000 on Friday.

After falling below the $30,000 level during Friday’s session, bitcoin (BTC) rebounded on Saturday, however sentiment was still somewhat bearish.

Following a high of $31,093.98 on Friday, BTC/USD dropped to an intraday low at $29,600.28 as the session progressed.

However, the price is now trading at $30,444.75, as bulls moved to buy the dip, pushing BTC higher to start the weekend.

As per the chart, the rebound came as the relative strength index (RSI) found a floor at the 63.00 mark.

On the other hand, ethereum (ETH) was largely bullish to start the weekend, with price surging to a two-month high.

ETH/USD has peaked at $1,945.27 so far on Saturday, which comes a day after falling to a low at $1,831.28.

As a result of this rally, the world’s second largest cryptocurrency jumped to its strongest point since May 6.

One of the reasons for this move was a breakout, which saw the RSI move past a ceiling at the 58.00 point.

ETH is now trading at $1,914.81. Open / Comment

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https://twitter.com/FarmAiToken Open / Comment

2023-06-28 19:37:02 Swiss Central Bank to Launch Wholesale CBDC Soon Says Chairman Thomas Jordan

The Swiss National Bank (SNB) said it plans to issue a wholesale central bank digital currency as a pilot via SIX Digital Exchange, a subsidiary of SIX, an operator of infrastructure for the Swiss and Spanish financial centers. SNB chairman Thomas Jordan said while the Central Bank has not ruled out launching retail CBDCs, the bank is being “a little bit prudent at the moment.”

According to Thomas Jordan, the chairman of the Swiss National Bank (SNB), the pilot CBDC project is expected to commence soon and will run for a limited period.

However, the SNB chairman who spoke at the Point Zero Forum, revealed that the experiment would involve the use of a real money equivalent.

By taking this step, the Swiss central bank joins its peers in countries which have either launched their respective CBDCs or are still in the trial or study phase. Open / Comment

2023-06-27 19:00:04 Project Name HEX TOYS a reward centric NFT marketplace on PulseChain, the 1st in the world.

Despite the name, Hex Toys doesn't deal with conventional 'toys'. Instead, we're redefining the concept of play in the digital age. We are proud to pioneer a unique marketplace for Hex and PulseChain collectibles, providing a platform for users to dive into the world of DeFi and NFTs.

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Website: https://marketplace.hex.toys Open / Comment

2023-06-25 20:57:02 Veteran Trader Peter Brandt Labels BTC a Legacy Coin to Outlast ‘Make-Believe Cryptos Wannabees’

Veteran trader Peter Brandt recently branded BTC as a legacy coin that will ultimately outlast and outperform all “make-believe cryptos wannabees.” Some non-bitcoin maximalists have said the veteran trader’s remarks about bitcoin are misguided and called on him to remain flexible.

Brandt made the remarks after Mike Cautillo — a private investor at e-Holdings — concurred with his earlier tweet about BTC’s impending “decisive breakout.”

Matthew Casterns, one of the Twitter users that responded to Brandt’s remarks, said he did not understand the reasoning behind the veteran trader’s assertions.

Another Twitter user, Allicnac, reminded Brandt about the Bitcoin network’s high transaction fees and long confirmation times and how these make the facilitation of efficient transactions impossible.

However, in his subsequent tweets on the same subject, Brandt, who has previously clashed with the bitcoin “laser eye” movement, appeared to reaffirm his belief in BTC. In one of these tweets, the veteran trader shared a chart which seemingly points to a possible bull run. Open / Comment

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2023-06-22 18:50:07 Custodia Bank Founder Caitlin Long: ‘The Fed Thinks Only Large Incumbents Should Service Crypto’

Caitlin Long, the founder of Custodia Bank, has railed against the favoritism that the Federal Reserve and the institutions of the U.S. financial system are supposedly showing to incumbents. According to Long, regulators have applied double standards when permitting established financial institutions to serve the crypto market and access instruments like Fed master accounts.

Caitlin Long, founder and CEO of Custodia Bank, has stated that the U.S. Federal Reserve and other regulators are favoring incumbents when it comes to allowing them to offer cryptocurrency-based instruments in the U.S. market.

She commented it was “interesting” that after regulatory action against established players in the crypto industry, large incumbents like Charles Schwab, Citadel Securities, and Fidelity Digital Assets announced the launch of EDX, a cryptocurrency exchange.

For Long, this indicates that state financial institutions such as the Fed are “picking and choosing” which companies and banks can get access to their services.

Custodia and the state of Wyoming are taking legal action against the Federal Reserve for not providing access to the central bank’s payments system. Open / Comment

2023-06-19 19:08:01 Latam Insights — Petro Liquidation Imminent

The Venezuelan petro, one of the first cryptocurrencies issued by a nation and backed by natural resources such as oil and gold, is allegedly set to be liquidated.

The Petro blockchain will be stopped after the government reimburses big petro holders, including department stores that received petro payments.

The liquidation of the Venezuelan petro comes three months after Venezuelan President Nicolas Maduro named a new restructuring board for Sunacrip due to its alleged involvement in a $20 billion “Crypto-PDVSA” corruption scheme.

The petro faced operational problems in May, with its blockchain stopping a couple of times, and reports of hundreds of accounts being blocked after these incidents. Open / Comment

2023-06-16 19:34:02 Crypto Exchange Okx Gets MVP Preparatory License From Dubai Regulator

Crypto exchange platform Okx Global has been granted the minimal viable product (MVP) preparatory license by the Dubai regulator, the Virtual Assets Regulatory Authority (VARA). The latest VARA license has been granted almost a year after Okx received the “provisional virtual assets license.”

The Dubai digital assets regulator, the Virtual Assets Regulatory Authority (VARA), has granted the minimal viable product (MVP) preparatory license to crypto exchange Okx, a statement released by the firm has said.

Once the license enabling the Web3 firm to be operational is obtained, the crypto exchange’s Middle East division “will be able to extend its approved suite of duly regulated virtual assets activities” to institutional and qualified retail customers.

In addition, the crypto firm said it intends to extend its “nine-figure brand partnerships” to the Middle East country through “customer and fan-focused activations and activities.”

Okx Global Head of Government Relations Tim Byun said the granting of the MVP license proves that Dubai and the regulator have become world leaders when it comes to regulating or crafting the framework that governs digital assets. Byun added: Open / Comment