Crypto Exchanges: What Investors Need To Know - cyptoranking.com

2024-04-28

Popular crypto exchanges(2023 Update) 2024-04-28
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The bullish momentum that propelled Bitcoin (BTC) to a 66.1% year-to-date gain has all but vanished as Bitcoin lost 9.4% in the past 6-months. Bitcoin price seemingly had sustained bullish momentum after the Grayscale court victory against the SEC, but these gains have fully evaporated as the losing streak from September continues into October. The contraction in Bitcoin price has some analysts comparing the current BTC market to the pre-bull market cycle of 2015-2017 as $28,000 becomes a major resistance. Bitcoin price. Source: TradingViewLet’s take a closer look at the factors impacting Bitcoin price today.Liquidity disappears as Bitcoin longs liquidatedThe start of 2023 saw traders with short positions continually dominating liquidations in the futures market. Bulls were caught off-guard on Aug. 17 when a flash crash caused over $213.5 million of longs to be liquidated. This marked the largest single day of Bitcoin long liquidations since the Terra Luna collapse in May 2022. Since the flash crash, the market has been in a perpetual state of capital outflows from risk assets like Bitcoin. Options volume is down 40% on Oct. 9.Bitcoin long liquidations continued in October with $12.6 million liquidated in the 24-hours proceeding Oct. 9. Bitcoin derivatives overview. Source: CoinglassWhen BTC longs are liquidated without buying pressure from traders, Bitcoin price is negatively affected. Bitcoin trading volumes have also continued to drop as Binance bleeds market share for the seventh straight month after halting zero-fee trading. The absence of consistent liquidity and trading volume has led some analysts to describe Bitcoin price behavior as illiquid and choppy. Related: The Truth Behind Cuba’s Bitcoin Revolution: An on-the-ground report All eyes are on the spot Bitcoin ETFsThe short-term uncertainty in the crypto market does not appear to have changed institutional investors' long-term outlook. Despite a hostile U.S. regulatory environment, large institutions are pushing for Bitcoin financial instruments which may spark a bull run. Currently, 9 top investment firms have ETF applications pending with the SEC. Despite the urgency of major financial firms, the SEC seems poised to continue to delay decisions on approving Bitcoin ETFs, including BlackRock’s application, until 2024. This could continue negatively impacting investor sentiment and price action across the crypto market. While some investors have speculated that BlackRock may be suppressing Bitcoin price ahead of their eventual ETF launch, the argument seems to be a conspiracy as they have more to lose from a BTC price crash. Related: Bitcoin bulls keep pressure on $28K while calls for BTC price dip growEven with the current Bitcoin price downturn, Real Vision’s Raoul Pal believes macro factors like interest rate cuts and ETFs will spark the next BTC bull run. Will short term pain in macro lead to long-term gains in crypto?Bitcoin price continues to be directly impacted by macroeconomic events, and it is also likely that further escalation in the conflict between Israel and Hamas, regulatory actions and interest rate hikes will continue having some effect on BTC price. Directly after the conflict between Russia and Ukraine began, Bitcoin price dropped by 8%. While the drawdown was quickly erased, it’s likely that investors will expect the conflict-driven volatility to continue. In the long term, market participants still expect the price of Bitcoin to recover, especially as more financial institutions are seemingly embracing BTC. The views and opinions expressed here are solely those of the author and do not necessarily reflect the views of Cointelegraph.com. Every investment and trading move involves risk, you should conduct your own research when making a decision. Retired NFL players will have an opportunity to tap into new revenue streams, including NFT collectibles for fans, through the NFL Alumni Association’s new partnership with Aventus. The firm, which operates a Polkadot parachain, will leverage the name, image, and likeness of retired players to create NFTs of those who opt into its new offering. Crypto Exchanges: What Investors Need To KnowNonfungible token (NFT) platform OpenSea says it is unaware of any evidence pointing to a former employee being involved in the infamous AnubisDAO rug pull in 2021 following new accusations on social media. While the customer managed to evade the scammer’s attempt, the incident underscores the importance of remaining vigilant and cautious in the face of increasingly sophisticated phishing and scam attempts.

Exchange Rankings Crypto
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Polygon’s native token (MATIC) experienced a 16.4% rally that coincided with the launch of Polygon 2.0 Goreli testnet on Oct. 4. However, the resistance at $0.60 proved stronger than anticipated, and was followed with a 10.6% decline over the six days leading into Oct. 10. Applications of Smart Contract What is the best app to buy Bitcoin in Mexico?Bradley Keoun contributed reporting to this story.Read more: Israel War Prompts Crypto Firms Including Fireblocks, MarketAcross to Start Aid FundMeet the guerilla artist who staged a crypto ‘rug pull’ in front of the SEC These two technical levels, which currently strongly influence the ADA price, indicate the formation of a descending triangle pattern. Until the two levels of the triangle are intact, the ADA coin price may witness a sideways trajectory.

Narula has strong views on how crypto projects should think about branching out into the metaverse. Most projects are not so well capitalized as Yuga, which has raised hundreds of millions of dollars from venture capitalists and through NFT sales. Most, therefore, should not aim to build vast, virtual worlds to populate with blockchain-linked IP, per Narula. An Oct. 8 blog post from 3Commas co-founder and CEO Yuriy Sorokin said it received reports from users concerning unauthorized trades on their accounts after resetting their passwords. Want to buy an NFT with eToro? Here's howSource: AdobeStock/Rafael HenriqueMajor NFT marketplace OpenSea has introduced OpenSea Studio, a comprehensive platform designed to assist creators in launching and managing their NFT projects. The company unveiled the new initiative in a Tuesday blog post, saying that OpenSea Studio aims to streamline the operational aspects so that creators can focus on their artistic endeavors."We’re launching OpenSea Studio, a one-stop shop for creators to launch and manage their projects, all on the world’s largest NFT marketplace," the announcement read. With the launch of OpenSea Studio, creators now have full control over the entire NFT drop process, allowing them to configure allowlists, upload media and metadata with previews, and create dedicated project pages. The platform also enables users to mint NFTs directly into their personal wallets, expanding their creative possibilities. OpenSea Studio supports a wide range of OpenSea-compatible blockchains, which include Ethereum (ETH), Polygon (MATIC), Klaytn, Solana (SOL), Arbitrum (ARB), Optimism, Avalanche (AVAX), BNB, Zora, and Base.OpenSea Studio Touts User-Friendly InterfaceAccording to OpenSea, one of the standout features of OpenSea Studio is its user-friendly interface, which eliminates the need for technical expertise when launching NFT projects. It also allows collectors to mint NFTs using credit or debit cards, simplifying the acquisition process.The platform said it has plans to enhance OpenSea Studio with additional functionality in the coming months. Users can expect new collection pages that offer immersive multimedia experiences, including videos, images, and text modules. Furthermore, the platform will introduce improved features such as roadmaps and FAQs to enhance user engagement."This will allow all creators and brands to showcase their work on a richer surface, and make it easier for collectors to learn about projects, right on the collection page."OpenSea Continues to Expand Market FootprintOpenSea has been actively expanding its market footprint in the competitive NFT industry. Earlier this year, the marketplace introduced OpenSea Pro, a platform that aggregates listings from 170 different markets, offering traders the most competitive deals available. OpenSea Pro also provides live cross-marketplace data, delivering near-real-time updates on user and collection activity across all NFT marketplaces, making it a valuable tool for traders and collectors alike.While OpenSea continues to innovate and expand, it has faced challenges along the way. Recently, the marketplace experienced a security breach that potentially exposed users' API keys.It is worth noting that despite the setbacks caused by the 2022 crypto crash, Web3 continues to intrigue marketers, particularly in the activewear and luxury brand sectors. As reported, Byron Sorrells, CEO and co-founder of Dispatch, a platform facilitating friction-free purchases in various digital experiences, has said that the 2022 crash provided a much-needed distinction between speculation and the real utility of Web3 technology. Sorrells claimed that he sees Web3 as a technology that augments existing practices rather than entirely replacing them."It's a shame it took these big events for that to happen, but you do start to see that what's survived are some genuine use cases," he said. Rolling Stone Calls NFTs “Totally Worthless,” Sparks Diverse Community Reaction Gucci Town on Roblox, the House’s permanent experience that launched in May 2022, has been renamed Gucci Ancora and features a newly refined design that transports visitors to a meta-version of the show’s IRL location in Milan’s creative Brera district.

Thousands of investors, including enterprises, took a huge hit with the fall of Terra. The network’s DeFi applications saw a loss of about $28 billion as investors have largely left the Terra ecosystem. Some deviations have been from this upward trajectory, like during the 2021 bull run, where these investors participated in some profit-taking. However, such deviations have only been temporary as the whales have eventually resumed their accumulation. WazirX: Buy Bitcoin & Crypto - Apps on Google PlayOn the upside, the price might face resistance near the $1,600 level. The first major resistance is near the trend line and $1,610. It is close to the 50% Fib retracement level of the recent decline from the $1,664 swing high to the $1,549 low. The Regular 4 Year Cycle

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