At the time of press, Bitcoin is trading at $58,933. Meanwhile the second-largest cryptocurrency, Ethereum, is trading close to $1,831.
Impressively, Bitcoin surged 600% in the last six months from $10,000 to $60,000. However, BTC, unable to sustain above $60K, is now facing a resistance at $58,800-$60,000. This seems to be the major resistance level before the next impulse wave. On the flip side, the RSI indicator shows a bearish divergence and a retest of the $55,000 region is possible. Further, if Bitcoin will hold this support level, then uptrend will continue, and BTC can break out to the next Fibonacci level price of $68,000.
Let’s review some interesting crypto news in detail.
Crypto.org Chain (CRO) partnered with Chainalysis to enhance the security of its network. Chainalysis is a blockchain analysis company and provides cryptocurrency investigation and transaction monitoring solutions. This union helps Crypto.org to utilize Chainalysis tools for smooth integration of the CRO token on Crypto.org Chain. Further, Crypto.org Chain will utilize an investigation software named Chainalysis Reactor to monitor suspicious activity. This will secure users’ accounts and assets, as well as protect businesses from any kind of fraud activities.
Manchester City announced the launch of its first blockchain-based Fan Token. Further, Manchester City has partnered with Socios.com to launch its CITY fan token on the Chiliz blockchain. As per the announcement, this token will empower fans with unique digital and real-life rewards and events. In addition, this will enable token holders to gain VIP rewards and access voting rights. Recently, Barcelona and AC Milan launched their fan tokens; hence, Manchester City now joins this innovative category and becomes the latest soccer club to entice fans.
Plasma Finance partnered with IntoTheBlock to provide enhanced tools to users. IntoTheBlock provides advanced and in-depth market analysis through its AI and machine learning technology. With this integration, Plasma Finance users will get access to IntoTheBlock’s unique and dynamic tools. Additionally, users can utilize customizable indicators across different crypto and DeFi assets. This will help investors to invest in high-yield assets to gain more profit.
Paid Network announced the launch of the Blind Boxes IDO on its Ignition platform. Blind Boxes is a gamified curation platform that enables collectors to create and own unique digital assets such as tokenized art, real estate, digital sports, and many more. As per the tweet, Blind Box Fund will encourage innovative NFT creators by meeting their financial needs. Additionally, creators can sell customized ERC-20 tokens to raise funds for supporting future NFT projects. NFTs will be sold in mystery boxes, which means that their true identity is unknown until the owner opens the mystery box. Furthermore, IGNITION is a featured product of PAID Network, which offers private and public auctions of blockchain-based token projects.
In the last bit of crypto news for today, we have Injective Protocol, who partnered with Cartesi to enable mainstream developer adoption of the Injective Chain. As per the tweet, this collaboration will provide enhanced tools to the developers. These tools empower developers to launch dApps and smart contracts on the Injective Chain by allowing them to code using mainstream software stacks supported by Linux. In addition, these applications excite developers to launch diversified dApps from different sectors. This would include new frontend interfaces, digital assets, and new trading mechanisms such as an AMM.
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