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OKB Technical Analysis: Expect Price to Breakout of $21.19 and $22.20

OKB tested and broke out of the 23.6% FIB retracement level of $20.43. Hence, as of now, the bullish forces are strong. Thus, we can expect the price uptrend to continue today and tomorrow with intermittent price pullbacks as a part of the price adjustment process.

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OKB is a utility token issued by the OK Blockchain Foundation. With OKB, you can get trading discounts up to 40%, earn passive income, and participate in myriad open-source blockchain projects. The Okexchain ecosystem is soon expected to launch its mainnet that will facilitate decentralized, borderless, fast, and secure digital currency transactions. The OKB technical analysis is as follows:

Past Trends

On April 23, 2021, OKB started trading at $16.53. On April 29, 2021, OKB closed at $19.18. Thus, in the past week, the OKB price has surged by roughly 16%. In the last 24 hours, OKB has traded between $18.41-$21.06.

https://d229noksprj98s.cloudfront.net/wp-content/uploads/2021/04/okb-technical-analysis-expect-price-to-breakout-of-21-19-and-22-20.png

https://zephyrnet.com/wp-content/uploads/2021/04/okb-technical-analysis-expect-price-to-breakout-of-21-19-and-22-20.png

Day-Ahead and Tomorrow

Currently, OKB is trading at $20.84. The price has increased from the day’s opening price of $19.18. Thus, the market seems healthy.

READ  Crypto Market Crash as Coinbase and Binance facing Issues

The MACD and signal lines are positive. Thus, the overall market momentum is bullish. However, a bearish crossover by the MACD line over the signal line has occurred. Hence, we can expect an intermittent price pullback amidst a rising price trend.

Currently, the RSI indicator is at 60%. It faced rejection at 52% and rose to the current level. Thus, buying pressures are slowly increasing. Hence, like the MACD indicator, the RSI indicator is also pointing to a further price rise.

Besides, the OBV indicator is upward sloping. This implies that buying volumes are higher than selling volumes. High demand for crypto will push its price further up.

In a nutshell, all three oscillators are showing bullish signals, but intermittent price pullbacks cannot be ruled out.

OKB Technical Analysis

As per technical analysis, currently, the price is above the first Fibonacci pivot resistance level of $20.56. As all the indicators have shown positive signals, we can expect the price to break out of the subsequent resistance levels of $21.19 and $22.20 respectively, in some time.

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The price has tested and broken out of the 23.6% FIB retracement level of $20.43. Hence, as of now, the bullish forces are strong. Thus, we can expect the price uptrend to continue today and tomorrow with intermittent price pullbacks as a part of the price adjustment process.

#OKB

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Source: https://www.cryptoknowmics.com/news/okb-technical-analysis-expect-price-to-breakout-of-21-19-and-22-20

Blockchain

Ethereum Miners Are Earning More than Bitcoin Miners: Report

Ethereum miners reportedly are earning more than Bitcoin miners over the past few days due to Ether’s soaring prices while BTC seems currently stagnated.

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Ethereum miners are reportedly earning more than Bitcoin miners over the past few days. One of the reasons for this is that the price of Ether has risen significantly over the last few months while the price of the leading cryptocurrency Bitcoin is still stagnated.

Ethereum Miners Earning More than Bitcoin Miners

Data from the Block’s Dashboard indicates that Ethereum miners are now making $77 million in daily revenue as of 10th May, compared to the $67 million that Bitcoin miners are earning.

The data have been calculated based on the average of the last seven days, even though a noticeable pattern has been seen over the past few months.

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For instance, in early February and late April, Ethereum miners saw a surge in their mining revenue.

A key reason for this is due to Ethereum’s rising price. After starting the year at $730, Ethereum is now worth currently worth above $4,000. Another reason is due to the network’s soaring transaction fees.

Ethereum miners usually earn their revenue in a mix of transaction fees known as gas paid in Ether and block subsidies for generating new ETH.

On May 10, the Ethereum network minted roughly $89 million in transaction fees, the highest in its history.

A reason for this is that gas fees have been rising over the past few days. In less than ten days, the average transaction fee spiked from around $8 to $64 on May 10, the highest transaction fees ever recorded on the network.

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Ethereum Miners to Accept the EIP 1559

Currently, 40% of the Ethereum miners’ revenue is coming from gas fees. But with the Ethereum Improvement Proposal (EIP) 1559 coming into effect in July, a portion of the fees will be sent to the network itself instead of miners.

To put it simply, From July, there will be two fees, per the EIP 1599, a base fee and an inclusion fee rewarded to miners. The base fee will be burned, and only the inclusion fee will go to the miners with the intention to reduce transaction fees for users.

#Bitcoin Mining #Crypto Mining #Ethereum #Ethereum fees #Ethereum Mining

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Source: https://www.cryptoknowmics.com/news/ethereum-miners-are-earning-more-than-bitcoin-miners-report

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U.S. SEC Cautions Investors’ Funds With Exposure to Bitcoin Futures

The U.S. Securities and Exchange Commission (SEC) has cautioned investors against investment in Bitcoin (BTC) futures market and BTC.

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In a statement, The U.S. Securities and Exchange Commission (SEC) has warned against investment in Bitcoin (BTC) futures market and BTC. The regulatory agency emphasized that investors should be wary of the volatility of both Bitcoin and the Bitcoin futures market, as well as the lack of regulation and potential fraud or manipulation in the cryptocurrency market. The SEC’s statement comes as the agency has at least eight Bitcoin ETF applications still pending for review.

Investors Should be Aware of Bitcoin’s Volatility

In an official statement on May 11, the SEC’s Division of Investment Management warns against investment in Bitcoin futures market, saying:

“Strongly encourages any investor interested in investing in a mutual fund with exposure to the Bitcoin futures market to carefully consider the risk disclosure of the fund, the investor’s own risk tolerance, and the possibility, as with all investing, of investor loss.”

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The regulatory agency emphasizes that investors should be aware of the dangers of investing in a volatile market or should be aware of their exposure, adding:

“Investors should consider the volatility of Bitcoin and the Bitcoin futures market, as well as the lack of regulation and potential for fraud or manipulation in the underlying Bitcoin market.”

The SEC further stated that it will closely monitor and assess Bitcoin futures-exposed mutual funds’ compliance with the Investment Company Act and federal securities laws.

SEC Yet to Approve Bitcoin ETFs in the U.S.

The regulatory agency’s statement comes as a number of applications for Bitcoin ETFs have landed on its desk. As of last month, the SEC had at least eight Bitcoin ETF applications pending for review.

While the statement was intended for investment in mutual funds, the note also had implications for bitcoin ETFs, which the country had been waiting for one in years:

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“The staff, among other things, expect to consider whether, in light of the experience of mutual funds investing in the bitcoin futures market, the bitcoin futures market could accommodate ETFs, which, unlike mutual funds, cannot prevent additional investor assets from coming into the ETF if the ETF becomes too large or dominant in the market, or if the liquidity in the market starts to wane.”

The SEC’s warning on cryptocurrencies comes just less than a week after Gary Gensler, the new SEC chairman, told a congressional committee that more investor protections are needed for the cryptocurrency market but the SEC does not yet have the authority to provide them, adding that Congress needs to give that authority to the agency.

#Bitcoin #Bitcoin Futures #U.S. Securities and Exchange Commission

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Source: https://www.cryptoknowmics.com/news/u-s-sec-cautions-investors-funds-with-exposure-to-bitcoin-futures

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Injective Protocol (INJ) and Curve (CRV) Technical Analysis: What’s Next?

Curve and Injective Protocol prices are firmly on an uptrend in the daily chart. CRV/USDT could reach $4.6, while INJ/USDT is open for $27.

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Curve and Injective Protocol prices are firm. CRV/USDT could reach $4.6, while INJ/USDT is open for $27.

Injective Protocol (INJ)

The Binance and Pantera-backed DeFi protocol aims to make exchanges completely decentralized and governed by holders of the INJ tokens.

Past Performance of INJ

From the daily chart, the INJ technical analysis favor buyers. On the last day of trading, INJ is up double digits, adding 10 percent versus the USD.

At the same time, the token is outperforming ETH and BTC, adding 24 percent. Propping bulls is a surge in trading volumes, rising to $382 million, a 6X increase on the last trading day.

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Day-Ahead and What to Expect

INJ/USDT prices retain an uptrend. Presently, the move up is within a bullish breakout pattern following gains of late April. However, there are hints of rejection to the upside.

Notably, candlesticks of the last few days are with long upper wick suggesting liquidation in lower time frames.

Still, reaction at $18 and the middle BB could shape INJ/USDT price action in the medium term.

INJ/USDT Technical analysis

INJ Price Daily Chart for May 13

INJ bulls are defying expectations to grind higher. Prices found support at $18—or February 2021 highs. A rebound from spot levels could confirm a retest in a buy trend continuation.

Accordingly, every low could be an opportunity for aggressive traders aiming at $27.

On the flip side, steep losses below $18 and the middle BB may spark a sell-off towards $11.

READ  Technical Analysis – Loopring (LRC), Bancor (BNT), and JUST

Curve (CRV)

Using Curve, users can trustless swap stablecoins. The native governance token is CRV.

Past Performance of CRV

As of writing, CRV is trading at $3.5. Although sellers are circling, CRV/USDT could grind higher, countering the primary trend of the overall crypto market.

Trading volumes are up 3.6X to $1.3 billion, forcing CRV higher.

In turn, the token is up roughly 15 percent against BTC and ETH, paring losses against the greenback in the past 24 hours.

Day-Ahead and What to Expect

The path of the least resistance is northwards. Overly, CRV/USDT prices are waving inside a widening wedge.

At around Q1 2021 highs, buyers stand a chance to print higher.

However, this depends on whether CRV buyers will shake off sellers of last week and soar higher.

READ  Bitcoin Price Down Over 10%, Sinking farther away from $10,000

CRV/USDT Technical Analysis

Curve Price Daily Chart for May 13

The main multi-week support trend line offers support for the CRV/USDT price.

As such, every low may be a loading opportunity for buyers.

A close above last week’s highs may see CRV race to $4.6.

Meanwhile, losses below May 13 lows opens up CRV to $2.2 in sell trend continuation from mid-April 2021.

#CRV #CRV/USDT #Curve #DeFi #INJ/USDT #Injective Protocol

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Source: https://www.cryptoknowmics.com/news/injective-protocol-inj-and-curve-crv-technical-analysis-whats-next

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Bitcoin.com exchange lists first AAA blockchain game Illuvium’s ILV token

Blockchain gaming is taking the industry by storm. Some of the most popular in-game items have sold for thousands of dollars on the top NFT marketplaces and new, incredibly entertaining games are laun

The post Bitcoin.com exchange lists first AAA blockchain game Illuvium’s ILV token appeared first on AMBCrypto.

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Blockchain gaming is taking the industry by storm. Some of the most popular in-game items have sold for thousands of dollars on the top NFT marketplaces and new, incredibly entertaining games are launched almost every day. There has been, however, a lot of talk about the quality of these. While most have led in their implementation of the new technology, few have provided players with fully immersive experiences.

Illuvium is an Ethereum-based game that promises to deliver on this end. Its open-world fantasy RPG format and crisp 3D graphics have led some to call it the first AAA blockchain game. For many, it represents a steep improvement from the current 2D projects that populate the space.

Players of Illuvium are launched to a vast multi-region landscape in search of creatures known as Illuvials. These 3D monsters are designed by some of today’s leading artists and can be owned by players after defeating them in battle. Every captured Illuvial becomes part of the player’s roster and can then be used to fight other creatures.

More importantly, all Illuvials are NFTs with a finite supply. This gives each creature a unique value that players can then trade for ETH on the Illuvium Exchange.

The game recently launched its native ILV token on May 3rd with USDT and BTC pairs on Bitcoin.com Exchange. This in-game currency is earned through game achievements and gives players participation in Illuvium’s DAO governance mechanism.

A supply of 10 Million ILV has been allocated to the game’s flash pools, rewards, liquidity pools, treasury, launchpad seed, pre-seed capital, and the game’s 40-person professional development team. 

Bitcoin.com Exchange CEO Danish Chaudhry has shared his outlook on the project. “Entering the AAA gaming space is no small task, becoming the first AAA blockchain video game is just another step in the right direction for the industry. Illuvium is addressing some of the most pressing challenges in the gaming industry, including scalability or a lack of detailed artwork.”

As one of the most popular trading platforms, Bitcoin.com counts with more than 500K active traders per month. The exchange will give ILV holders access to a secure trading environment with high liquidity, 24/7 multilingual support, and dozens of other trading pairs.

Besides Bitcoin.com Exchange, other early backers of Illuvium include influential blockchains investment firms such as Quantstamp and Moonwhale.

Disclaimer: This is a paid post and should not be treated as news/advice

Coinsmart. Beste Bitcoin-Börse in Europa
Source: https://ambcrypto.com/bitcoin-com-exchange-lists-first-aaa-blockchain-game-illuviums-ilv-token

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