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Cardano [ADA] eyes $2; Will the bull aid this jump?

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The bulls were entering the market while the bear was heading out. Cardano [ADA] was the star of today’s bull run. With the entire market glistening in green, ADA was leading this abrupt surge.

Bitcoin [BTC] was back at $45K, however, the asset garnered no major profits throughout the day. However, Ethereum [ETH] and Binance Coin [BNB] were seen making the most of this.

Over the last couple of days, Cardano [ADA] has been recording significant surge. It seemed like the altcoin persisted this notion. At the time of writing, Cardano [ADA] was trading for $1.94 with a 9.90% surge over the last 24-hours. Over the last seven days, the asset bagged gains of about 40%.

The asset was close to taking over the largest stablecoin Tether [USDT] by market cap and ranking. During press time, ADA’s market cap was at $62.15 billion and the altcoin was taking over the fifth rank.

Cardano [ADA] one-hour price chart on Binance

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Cardano [ADA] eyes $2; Will the bull aid this jump? 3

The short-term price chart of ADA on Binance noticed bull settlements. The Bollinger Bands indicator used in the above chart suggested that the bands were diverging. This further indicated an increase in volatility. The possible surge in volatility would be good for the asset as the bulls were in its market. The Awesome Oscillator indicator formed green closing bars and announced the presence of bulls.

The Relative Strength Index indicator was dwelling in the buyers’ side as the RSI marker was way over the 50 median.

Cardano [ADA] one-hour price chart on Binance

Cardano
Cardano [ADA] eyes $2; Will the bull aid this jump? 4

The one-day price chart of the altcoin mirrored the short term chart of ADA. The bulls were here to stay as both the charts noted strong bullish momentum. The Parabolic SAR indicator formulated a line of support and destroyed any possible downtrends. The Chaikin Money Flow indicator remained over the zero median on the bullish arena.

The Money Flow Index indicator noted that ADA was being overbought at the moment.

XRP hits $1 but fails to form a strong line of support

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The crypto-verse was being pulled apart by the bull and the bear. The bears were slowly entering the markets of coins like XRP, while it had already taken over assets like Ethereum [ETH], Uniswap [UNI] as well as Bitcoin [BTC].

Bitcoin [BTC] dipped down $45K and did not land too far away. The king coin, at press time, was trading for $44,504 with a 3.37% dip in the last 24-hours. The market cap of the asset witnessed a dainty fall since yesterday. Ethereum [ETH] was undergoing a similar notion, however, it established a stronghold on $3K.

XRP stunned the entire market by surging to a high of $1. The bulls were kind enough to carry the asset on to this level. However, this didn’t seem to last for too long as it slipped back below $1. At the time of writing, XRP was trading for $0.968 with a 10% surge over the last 24-hours. Almost every asset in the market bagged significant gains over the last couple of days and so did XRP. The altcoin managed to secure a total of 37% profits over the previous seven days.

The altcoin managed to retain itself over Dogecoin [DOGE] in terms of market cap. The asset stood as the sixth-largest cryptocurrency with a market cap of $44.88 billion.

XRP one-hour price chart on Binance

XRP
XRP hits $1 but fails to form a strong line of support 6

The short-term price chart of the altcoin noticed the emergence of the bear. The short-term bears were on to the market as the bulls were slowly bidding adieu. The Bollinger Bands indicator diverged for a long time all through yesterday and was seen converging during press time. This further indicated decreased volatility. The MACD line plummeted below the signal line further forming a bearish crossover.

Additionally, the Relative Strength Index [RSI] indicator was seen exactly on the 50 median. However, it was headed towards the sellers’ market.

Shark Tank’s Kevin O’Leary elevates his crypto presence as the ambassador of FTX

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The crypto industry welcomed an array of people this year. Kevin O’Leary from Shark Tank was one of them. To further bolster his presence in the crypto-verse, the Shark Tank host joined the prominent crypto exchange, FTX as its latest spokesperson.

The value of the crypto market witnessed impeccable growth through 2020. The market cap of the crypto industry soared to a high of $2 trillion while the price of Bitcoin [BTC] hit an all-time high of $64K. This timely growth of the king coin lured in several individuals to the market. From celebrities to the average Joe, everyone wanted to explore the crypto market. Back in March, O’Leary went on to reveal that he intended to allocate about 3% of his investments to Bitcoin.

Looks like the Shark Tank host wanted more from the crypto-verse. FTX shared a press release welcoming O’Leary into its wing.

Shark Tank host dives deep into the crypto market

As per a recent announcement, O’Leary had acquired an equity stake in FTX Trading Ltd. (“FTX.COM”) and West Realm Shires Services Inc. (“FTX.US”) owners and operators of FTX.COM and FTX.US respectively. The Shark Tank host would reportedly be paid in crypto and appear as the spokesperson as well as an ambassador for the exchange.

Noting the reason behind this move into the crypto-verse, the venture capitalist stated,

“I want to increase my crypto exposure but also serve my compliance mandates. When it comes to rapidly changing compliance and tax reporting requirements, the current cryptocurrency ecosystem is fraught with risks that I can not take. To find crypto investment opportunities that met my own rigorous standards of compliance, I entered into this relationship with FTX. It has some of the best crypto exchange offerings I’ve seen on the market.”

Along with this, O’Leary has reportedly signed a multi-year deal with FTX as its spokesperson. During this time, he would carry out operations that would require him to elevate FTX’s existing presence while reaching out to new audiences.

Can XRP finally make it back to $1?

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The crypto market has experienced multiple ups and downs lately. However, it has been only ups off late. XRP, Ethereum [ETH], Polkadot [DOT], and a few other assets weren’t making the most of the ongoing bull cycle. Nevertheless, the above-mentioned altcoins were seen recovering from the recent crash.

Bitcoin [BTC] had finally broken major lines of resistance and hit $45K. While several speculate that the asset might be making its way onto $50K, a few others suggest that this was nothing but a temporary surge. Yet, the king coin sprung up by over 18.49% over the last seven days.

Similar to all the other coins, XRP went on to bag a few gains over the last couple of days. The altcoin, during the time of writing, was trading for $0.855 with a 4.47% surge over the last 24-hours. Just like Bitcoin, XRP went on to make profits worth 19.35% throughout the previous few days.

Dogecoin [DOGE] was well settled in the sixth position. However, XRP seems to have kicked the meme coin out and occupied this rank. At press time, the altcoin’s market cap was at $38.82 billion. The altcoin still had a long way to go before taking over Cardano [ADA] in the fifth position.

XRP one-day price chart on Binance

XRP
Can XRP finally make it back to $1? 8

The one-day price chart of the altcoin noted that the chances of it hitting $1 were radiant. The Chaikin Money Flow [CMF] indicator remained in the bullish arena over the zero median. The CMF marker was so high up the zero median which further indicated a strong bullish notion. The MACD indicator followed suit and went on to form a bullish crossover. The MACD line had taken over the signal line back in July itself and the trend seemed to have persisted.

Additionally, the Relative Strength Index [RSI] indicator suggested that XRP was being overbought. Since the RSI marker was way over the 75 median, it was concluded that the buying activity in the market was extremely high.

Xiaomi shoots down the association with Portugal store that accepts Bitcoin

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An array of platforms ventured into the crypto-verse this year. Therefore, Xiaomi’s entering into the crypto market did not come as a surprise to anyone. However, it seemed like the Chinese electronics store was taken by shock.

The value and popularity of the crypto industry grew to new heights this year. The market was seen enjoying a long stay with the bull. This lured several mainstream firms into the market. The recent crash did no major damage to the industry as prominent platforms were still interested in the market.

In a recent Facebook post, it was revealed that a Mi Store in Portugal had started to accept payments in crypto. The post note that the store would accept about five cryptocurrencies including, Bitcoin [BTC], Ethereum [ETH], Dash [DASH], Tether [USDT] as well as the Utrust [UTK] token. Users would be able to purchase an array of things like Xiaomi devices, smartphones, vacuum cleaners, smartwatches, and electric scooters.

The head of marketing of the Mi Store Portugal, Pedro Maia spoke about this and stated,

“We are a technological, innovative and disruptive brand. That’s why we always want to be one step ahead. We want to give the possibility to all true technology fans to buy their favorite gadgets with what is currently “the most technological money.”

Xiaomi will not accept crypto

This rumor was soon shot down by the platform as the spokesperson went on post a notice about the same on Weibo. The Xiaomi spokesperson pointed out that the Mi Store Portugal wasn’t directly associated with the Chinese electronics manufacturer. Rather, the store was a third-party authorized partner that was carrying out operating in Portugal independently.

The spokesperson further added,

“We are concerned about the information that Mi Store Portugal accepts digital currency payments on overseas social platforms,

Binance’s latest partnership with Alchemy Pay to render BTC payments on Shopify

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Binance’s fallout with regulators across the globe hasn’t stopped the cryptocurrency exchange from growing. A recent announcement about its latest partnership with Alchemy Pay is enough proof about the same.

The world’s largest crypto exchange in terms of trading volume noticed a major slump this month following the extensive scrutiny imposed by regulators from all around the world. Several notices were issued from regulators from Japan, Ontario, Singapore, the Cayman Islands along with several others.

This did not hold the exchange back as it continued exploring and expanding. Alchemy Pay revealed in its latest press release, its association with Binance. Alchemy Pay is a crypto to a fiat payments platform that carries out P2P crypto payments across the globe. With this partnership, the platform hopes to formulate crypto to fiat payment bridge via Binance Pay wallet.

Binance continues to explore and expand

The exchange’s latest venture would pave the way to increase in crypto payments on platforms like Shopify, mobile payment platform QFPay, software technology firm Arcadier and several other partners of Alchemy Pay. A total of 40 crypto assets are supported by the platform and this list includes Bitcoin [BTC], Ethereum [ETH], and several others.

Speaking about the latest partnership, John Tan, the CEO of Alchemy Pay said,

“When we started, the total value of the cryptocurrency market was less than a tenth of a percent of what it is today. Electronic payments outside of the $80 trillion fiat economy were virtually unknown to the world. Alchemy Pay’s partnership with Binance for the Binance Pay wallet significantly expands the practical backbone applications we build between the crypto and fiat worlds.”

Additionally, Alchemy Pay functions in over 18 countries. This not only would elevate the presence of crypto but also pave the way to Binance’s growth. The platform even has its native token called ACH which runs on the Ethereum blockchain.

Chainlink [LINK] outshines top ten cryptocurrencies

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While the entire crypto-verse was enduring a slump only few coins like Chainlink [LINK] and Solana [SOL] managed to steer away from the bear and decided clung on to the bull. Painted in red, the crypto market was seen losing out on all the recently amassed gains.

Bitcoin [BTC] dipped to $38K after recently moving across $40K. This move certainly disappointed an array of BTC investors who hoped the asset would aim for $50K. Ethereum [ETH] held on to the $2K level, however, the largest altcoin was observed hoarding a 3.34% drop over the last 24-hours. Almost all the top ten coins on CoinMarketCap’s list were seen plummeting by at least 3%.

During the same time, Chainlink was taking out the last of its profits from the bulls. At the time of writing, the altcoin was trading for $22.97 with a 1.88% surge over the last 24-hours. Even if this rise was dainty, when compared to other assets, Chainlink proved to be doing much better.

Additionally, the market cap of the altcoin was at $10.02 billion which helped the coin remain in the 12th rank.

Chainlink [LINK] one-hour price chart on Binance

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Chainlink [LINK] outshines top ten cryptocurrencies 10

The short-term price chart of LINK revealed that the altcoin was no different than the other assets. Chainlink was headed towards the bearish realm along with all the other assets. The Awesome Oscillator indicator noticed a reversal in trend. Red closing bars were formed by the indicator which further alerted the presence of the bears in the LINK market.

The Chaikin Money Flow [CMF] indicator did not wait for anyone. The CMF marker took a plunge below the zero median which indicated a bearish momentum in the LINK market. This was followed by the Relative Strength Index [RSI] that was revealing a contradicting notion. The RSI marker was moving from the sellers’ zone onto the buyers’ arena over the 50 median. This sort of sentiment amidst a bearish cycle was not anticipated.

Mastercard teams up with Australian crypto exchange CoinJar to issue crypto cards

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Mastercard has been making immense news in the crypto-verse. The payments platform continued to embrace cryptocurrencies despite the market’s steep fall. While the platform has made an array of advancements in the crypto-verse, another feather was added to its cap.

In a recent announcement, an Australian cryptocurrency exchange, CoinJar revealed that it had joined hands with Mastercard. This partnership will elevate the exchange’s CoinJar Card as it would allow users to carry out crypto purchases at places that accept Mastercard.

Considering the payments giant’s immaculate user base, this move would be great for the crypto industry as it would boost adoption.

Mastercard and CoinJar to ramp up crypto-adoption

Elaborating about its latest association with Mastercard, CoinJar in its latest blog post pointed out that users would be able to avail this service by either physical or digital cards. Along with this, an Apple Pay and Google Pay integration would also be made available.

Soon after a user initiates a payment in crypto, CoinJar would reportedly convert the desired crypto asset into Australia’s fiat currency before the transaction is carried out. A total of 30 cryptocurrencies are supported by the CoinJar Card and this list includes, Bitcoin [BTC], Ethereum [ETH], etc.

The blog post further read,

“CoinJar Card allows you to use the cryptocurrency in your CoinJar to make purchases, wherever Mastercard is accepted. All you need to do is choose which crypto you want to spend and it’ll be automatically converted to Australian dollars when you make a transaction – no need to preload. […] With full digital wallet support, you can spend your crypto instantly and securely with the device in your hand (or on your wrist).”

In addition to this, the platform pointed out that the activation of the card was free of cost. Furthermore, users would be able to enjoy CoinJar Rewards as it claims to have a low 1% transaction fee.

Dormant Bitcoins [BTC] are moving again as sentiment turns neutral

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Bitcoin [BTC] was back above $40K after the weekend tumble. August has opened the doors for the silent bulls that have managed to stir a resurgence in the price of the world’s largest cryptocurrency. The dollars invested in Bitcoin and are on the move according to the blockchain analytics platform Santiment.

According to the firm, the mean dollar invested ages in the bull run for both Bitcoin and Ethereum has not stayed dormant. As a matter of fact, more and more dollars are being poured into the coin market and the previously dormant investment was being moved.

Santiment’s latest insight revealed the flattening of the Mean Dollar Invested Age as Bitcoin was marching closer to its all-time high depicting a phase of dry up. However, this trend has since changed. As price saw a series of downtrend after mid-May, the metric for not just Bitcoin but also Ethereum has been moving back up.

The crypto analytic platform revealed,

“We’re seeing some renewed movement in invested dollars (for BTC at least, not ETH), and BTC’s line is curling down again. If the line continues to move down from here, it can be a prime signal to reveal a second bull cycle may be starting.”

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Dormant Bitcoins [BTC] are moving again as sentiment turns neutral 13

Bitcoin [BTC] sentiment turns to Neutral

Bitcoin addresses currently owning 100-10,000 BTC now collectively hold 9.23 million coins in their wallets. Interestingly, this is a new peak for this tier demonstrating a massive bullish phase. In fact, the previous all-time high was observed to be on the 5th of April, just one week prior to the crypto-asset’s price surging above $64K.

Over the past month, these addresses have accumulated nearly 170K more BTC. This tremendous pace mirrors to that of late December 2020, just before the staggering bull run that started this year.

Additionally, the flagship cryptocurrency finally made a comeback to ‘neutral’ after being stuck in ‘fear’ territory since mid-May. As Bitcoin reached $42,600 after recovery last week, sentiments around the collective crypto market appeared to be returning back to normal.

fear and greed
Dormant Bitcoins [BTC] are moving again as sentiment turns neutral 14

Solana [SOL] steals the crypto spotlight with its 10% daily surge

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The crypto market was seen witnessing a tiff between the bull and the bear. However, the bull was making sure to give all its attention to Solana [SOL]. The altcoin managed to bag the most gains over the last couple of hours while all the other assets were seen trying to steer clear from the bear.

After surging by over 20% through the week, Bitcoin [BTC] was seen taking a backseat. The king coin dipped by 2% and found itself at $38K. Ethereum [ETH] managed to stay still and did not notice major fluctuations in its price.

Moving onto Solana [SOL], the fourteenth largest cryptocurrency had all eyes on it. The altcoin, at the time of writing, was trading for $30.97 with a 10.52% surge over the last 24-hours. Even though the altcoin barely bagged gains throughout the week, it managed to secure profits over the last 24-hours.

The altcoin’s price change and the advancements that the Solana network has been making are commended by many in the crypto-verse. Despite this, the asset hasn’t found its way into the top ten. During press time, SOL’s market cap was at $8.47 billion, almost at par with that of Chainlink [LINK].

Solana [SOL] one-hour price chart on Binance

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Solana [SOL] steals the crypto spotlight with its 10% daily surge 16

The one-hour or short-term price chart of SOL was seen harboring the bear. Despite the altcoin’s daily surge, the hourly chart suggested that it would endure loss or stay still at its current zone. The Parabolic SAR indicator switched sides and moved upwards over the candlestick. This line stood as an obstruction against any possible uptrend. This was followed by red closing bars formulated by the Awesome Oscillator indicator. These lines revealed that SOL was in for a downward ride.

The Relative Strength Index [RSI] indicator remained untethered on the 50 median. This further indicated a buyers’ market, however, the marker could flip sides and move over to the sellers’ side.