CRYPTO NEWS: Latest BITCOIN News, ETHEREUM News, DEFI News
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Bitcoin shows a bullish pattern, why the fall is becoming attractive for BTC
The price of bitcoin has formed a base above $35,000 and started a new rise against the U.S. dollar.
Bitcoin has been slowly declining, but bulls have been active near the $35,000 support zone.
There was a clear breakout above $36,500 resistance and the 100-hour simple moving average. More importantly, on the hourly chart of the BTC / USD pair, there was a breakout above the main downward channel with a resistance of around $36,200.
Here’s why Ethereum follows bitcoins and rises above $2,500
Ethereum is trading in positive territory above the $2400 support zone and the 100-hour SMA against the U.S. dollar.
After forming a base above $2,350 Ethereum has started a steady rise.
However, Ether struggled to gain speed like bitcoin. It rose above the $2,450 and $2,500 resistance. There was also a break above the main bearish trend line with resistance around $2,400 on the ETH / USD hourly chart.
Elon Musk announces when Tesla will resume accepting bitcoin payments
Tesla CEO Elon Musk tweeted that the e-car maker will resume bitcoin payments when the cryptocurrency’s use of clean energy reaches the 50 percent threshold.
When there is confirmation of reasonable use of clean energy by miners with a positive future trend, Tesla will resume bitcoin transactions.
In addition, Musk denied pumping and dumping bitcoins, calling allegations recently made by Sygnia CEO Magda Wierzycka “inaccurate.”
Taproot, long-awaited Bitcoin update, provides blockchain activation
Bitcoin is set to integrate a privacy-focused update known as Taproot later this year.
As Taproot.Watch, which tracks a week-long effort to provide activation support in the bitcoin mining sector, notes, a sufficient number of supporting blocks – at least 1,815 – has been reached. The signaling period, known as the “fast-track trial,” began last month.
Asset manager worth $150 billion enters cryptocurrency markets in partnership with Nasdaq
Victory Capital is entering the cryptocurrency market by partnering with U.S. stock exchange Nasdaq and cryptocurrency-focused asset manager Hashdex.
Nasdaq and Hashdex developed the NCI in response to growing institutional interest in bitcoin and other cryptocurrencies. The rule-based index serves as a measure of the performance of the digital asset market and is designed to be easy for investors to track.
Indian law enforcement authorities claim that crypto-exchange WazirX violated FEMA rules
The Enforcement Directorate of India said that cryptocurrency exchange WazirX violated the rules of the Foreign Exchange Management Act.
The Enforcement Directorate of India, the law enforcement agency responsible for fighting financial crime in the country, said that local cryptocurrency exchange WazirX violated the rules of the Foreign Exchange Management Act.
Ethereum gas fees plummet as L2 polygon exceeds 7 million transactions
Ethereum’s network fees have fallen to less than one dollar for simple transactions and less than ten dollars for complex transactions involving various token swaps.
This is the first time in nearly six months that fees have fallen from $70 in May to $4 per transaction.
Part of the reason for this reduction in network congestion appears to be due to the recently launched Polygon, which has gained widespread adoption.
Bitcoin mining difficulty drops 5% after Xinjiang miner shutdown
Bitcoin mining complexity fell 5.3% due to the recent hash rate drop.
Onchain data shows that online mining complexity fell to 19.8 trillion, a level not seen since early January.
After the previous difficulty adjustment on May 30, the network’s hash rate remained stable. But on June 9, miners in the Zhongdong Economic and Technological Development Zone in Xinjiang were ordered to shut down operations, the result of high-level comments from China’s State Council on measures to combat bitcoin trading and mining. Following this news,
DeFi startup InstaDApp raises $10 million in new funding
InstaDApp, a startup seeking to create a so-called “middle ground” for the decentralized finance space, has raised $10 million in new funding.
The $10 million round, which included a token sale, was led by Standard Crypto. The investor pool included DeFi Alliance, Longhash Ventures, and Yearn developer and founder Andre Cronje. The funding news comes more than a year and a half after InstaDApp raised a $2.4 million seed round from a group that included Coinbase Ventures, Naval Ravikant, and Pantera Capital.
Co-founder Soomei Jain said the funding will be used to “complete our transition to the middleware layer for DeFi and support an ecosystem project built around the Instadapp protocol.” InstaDApp is also preparing to launch its own INST management token, as detailed in an April blog post.
InstaDApp is raising $10 million