Dogecoin slipped to a five-day low on Wednesday, as the meme coin fell for a second straight session. The move saw prices drop by over 5%, edging closer towards a key price floor in the process. Polygon also extended recent declines, hitting its weakest point since January 19.
Dogecoin (DOGE) dropped to a five-day low on Wednesday, as the global cryptocurrency market cap fell by as much as 3% today.
Following a low of $0.08919, DOGE/USD fell to an intraday low of $0.08245 earlier today.
The move saw dogecoin hit its lowest point since January 20, which is the last time prices were trading at a floor of $0.080.
As can be seen from the chart, the decline took place as the 14-day relative strength index (RSI) collided with a support level of its own at 55.00.
In addition to this, the 10-day (red) moving average has now shifted its direction, and appears to be on course for a downward trend.
Should this take place, and result in a crossover with the 25-day (blue) moving average, then DOGE will likely be trading below $0.080.
Polygon (MATIC) was also in the red on hump day, with the token moving lower for a third consecutive day.
MATIC/USD fell below the $1.00 mark in today’s session, as prices slipped to a low of $0.938 earlier in the day.
Similar to dogecoin, today’s decline has pushed polygon to its weakest point since last Thursday, when prices were trading at a floor of $0.940.
Looking at the chart, price strength also edged lower, with the relative strength index (RSI) falling below a floor of 58.00.
As of writing, the index is now tracking at 55.96, with a floor of 53.00 the next possible target for bears.
Bulls have so far rejected this advance, with MATIC rebounding from earlier lows, currently sitting at $0.9588, at the time of writing.
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What is behind today’s bearish momentum in crypto markets? Let us know your thoughts in the comments.
Eliman brings an eclectic point of view to market analysis. He was previously a brokerage director and online trading educator. Currently, he acts as a commentator across various asset classes, including Crypto, Stocks and FX, whilst also a startup founder.
Image Credits: Shutterstock, Pixabay, Wiki Commons, viewimage / Shutterstock.com
Disclaimer: This article is for informational purposes only. It is not a direct offer or solicitation of an offer to buy or sell, or a recommendation or endorsement of any products, services, or companies. Bitcoin.com does not provide investment, tax, legal, or accounting advice. Neither the company nor the author is responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods or services mentioned in this article.
Oman to Incorporate Real Estate Tokenization in Virtual Assets Regulatory Framework
Real estate tokenization is set to be incorporated into Oman Capital Markets Authority (OCMA)'s virtual asset regulatory framework. According to an advisor with the authority, the tokenizing of real estate will open investment opportunities for local and foreign investors. Real ... read more.
Dogecoin slipped to a five-day low on Wednesday, as the meme coin fell for a second straight session. The move saw prices drop by over 5%, edging closer towards a key price floor in the process. Polygon also extended recent declines, hitting its weakest point since January 19.
Dogecoin (DOGE) dropped to a five-day low on Wednesday, as the global cryptocurrency market cap fell by as much as 3% today.
Following a low of $0.08919, DOGE/USD fell to an intraday low of $0.08245 earlier today.
The move saw dogecoin hit its lowest point since January 20, which is the last time prices were trading at a floor of $0.080.
As can be seen from the chart, the decline took place as the 14-day relative strength index (RSI) collided with a support level of its own at 55.00.
In addition to this, the 10-day (red) moving average has now shifted its direction, and appears to be on course for a downward trend.
Should this take place, and result in a crossover with the 25-day (blue) moving average, then DOGE will likely be trading below $0.080.
Polygon (MATIC) was also in the red on hump day, with the token moving lower for a third consecutive day.
MATIC/USD fell below the $1.00 mark in today’s session, as prices slipped to a low of $0.938 earlier in the day.
Similar to dogecoin, today’s decline has pushed polygon to its weakest point since last Thursday, when prices were trading at a floor of $0.940.
Looking at the chart, price strength also edged lower, with the relative strength index (RSI) falling below a floor of 58.00.
As of writing, the index is now tracking at 55.96, with a floor of 53.00 the next possible target for bears.
Bulls have so far rejected this advance, with MATIC rebounding from earlier lows, currently sitting at $0.9588, at the time of writing.
Register your email here to get weekly price analysis updates sent to your inbox:
What is behind today’s bearish momentum in crypto markets? Let us know your thoughts in the comments.
Eliman brings an eclectic point of view to market analysis. He was previously a brokerage director and online trading educator. Currently, he acts as a commentator across various asset classes, including Crypto, Stocks and FX, whilst also a startup founder.
Image Credits: Shutterstock, Pixabay, Wiki Commons, viewimage / Shutterstock.com
Disclaimer: This article is for informational purposes only. It is not a direct offer or solicitation of an offer to buy or sell, or a recommendation or endorsement of any products, services, or companies. Bitcoin.com does not provide investment, tax, legal, or accounting advice. Neither the company nor the author is responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods or services mentioned in this article.
Oman to Incorporate Real Estate Tokenization in Virtual Assets Regulatory Framework
Real estate tokenization is set to be incorporated into Oman Capital Markets Authority (OCMA)'s virtual asset regulatory framework. According to an advisor with the authority, the tokenizing of real estate will open investment opportunities for local and foreign investors. Real ... read more.
Unredacted documents mistakenly sent to the bankruptcy court indicate that the now-defunct crypto lender Blockfi had more than $1.2 billion tied up with FTX and Alameda Research. The accidentally revealed documentation shows that Blockfi’s exposure to the bankrupt crypto firm FTX was more than what the company had previously disclosed.
It seems that Blockfi had a lot more money tied up with FTX and Alameda Research than what was originally suggested by the firm. A CNBC report indicates that unredacted documents were mistakenly sent to the bankruptcy court, revealing that Blockfi had $415.9 million connected to FTX, and roughly $831.3 million in loans to Alameda Research.
The latest Blockfi filing shows that $1.2 billion is allegedly tied up with both FTX and Alameda, both of which have filed for Chapter 11 bankruptcy protection. When Blockfi’s bankruptcy case started in New Jersey, lawyers originally quoted the loans to Alameda as being around $671 million, and another $355 million was said to be locked on the FTX exchange. Blockfi paused withdrawals on Nov. 10, 2022, one day before FTX filed for bankruptcy.
Two days before the pause, Blockfi co-founder Flori Marquez told the crypto community that “Blockfi is an independent business entity” amid the FTX drama. She further noted that Blockfi had a “$400 million line of credit from [FTX US] (not FTX.com) and will remain an independent entity until at least July 2023.” Less than a month later, Blockfi filed for Chapter 11 bankruptcy protection in the state of New Jersey.
CNBC further reports that Blockfi has 125 staff members still on Blockfi’s payroll and a total of $11.9 million will be collected on an annualized basis. Furthermore, five top Blockfi executives are still earning $822,000 for the year, according to a presentation designed by M3 Partners. CNBC’s MacKenzie Sigalos reached out to Blockfi, but the company “did not respond to a request for comment.”
What do you think is the impact of this Blockfi revelation? Let us know your thoughts in the comments section below.
Jamie Redman is the News Lead at Bitcoin.com News and a financial tech journalist living in Florida. Redman has been an active member of the cryptocurrency community since 2011. He has a passion for Bitcoin, open-source code, and decentralized applications. Since September 2015, Redman has written more than 6,000 articles for Bitcoin.com News about the disruptive protocols emerging today.
Image Credits: Shutterstock, Pixabay, Wiki Commons
Disclaimer: This article is for informational purposes only. It is not a direct offer or solicitation of an offer to buy or sell, or a recommendation or endorsement of any products, services, or companies. Bitcoin.com does not provide investment, tax, legal, or accounting advice. Neither the company nor the author is responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods or services mentioned in this article.
Tony Hawk's Latest NFTs to Come With Signed Physical Skateboards
Last December, the renowned professional skateboarder Tony Hawk released his “Last Trick” non-fungible token (NFT) collection via the NFT marketplace Autograph. Next week, Hawk will be auctioning the skateboards he used during his last tricks, and each of the NFTs ... read more.
Unredacted documents mistakenly sent to the bankruptcy court indicate that the now-defunct crypto lender Blockfi had more than $1.2 billion tied up with FTX and Alameda Research. The accidentally revealed documentation shows that Blockfi’s exposure to the bankrupt crypto firm FTX was more than what the company had previously disclosed.
It seems that Blockfi had a lot more money tied up with FTX and Alameda Research than what was originally suggested by the firm. A CNBC report indicates that unredacted documents were mistakenly sent to the bankruptcy court, revealing that Blockfi had $415.9 million connected to FTX, and roughly $831.3 million in loans to Alameda Research.
The latest Blockfi filing shows that $1.2 billion is allegedly tied up with both FTX and Alameda, both of which have filed for Chapter 11 bankruptcy protection. When Blockfi’s bankruptcy case started in New Jersey, lawyers originally quoted the loans to Alameda as being around $671 million, and another $355 million was said to be locked on the FTX exchange. Blockfi paused withdrawals on Nov. 10, 2022, one day before FTX filed for bankruptcy.
Two days before the pause, Blockfi co-founder Flori Marquez told the crypto community that “Blockfi is an independent business entity” amid the FTX drama. She further noted that Blockfi had a “$400 million line of credit from [FTX US] (not FTX.com) and will remain an independent entity until at least July 2023.” Less than a month later, Blockfi filed for Chapter 11 bankruptcy protection in the state of New Jersey.
CNBC further reports that Blockfi has 125 staff members still on Blockfi’s payroll and a total of $11.9 million will be collected on an annualized basis. Furthermore, five top Blockfi executives are still earning $822,000 for the year, according to a presentation designed by M3 Partners. CNBC’s MacKenzie Sigalos reached out to Blockfi, but the company “did not respond to a request for comment.”
What do you think is the impact of this Blockfi revelation? Let us know your thoughts in the comments section below.
Jamie Redman is the News Lead at Bitcoin.com News and a financial tech journalist living in Florida. Redman has been an active member of the cryptocurrency community since 2011. He has a passion for Bitcoin, open-source code, and decentralized applications. Since September 2015, Redman has written more than 6,000 articles for Bitcoin.com News about the disruptive protocols emerging today.
Image Credits: Shutterstock, Pixabay, Wiki Commons
Disclaimer: This article is for informational purposes only. It is not a direct offer or solicitation of an offer to buy or sell, or a recommendation or endorsement of any products, services, or companies. Bitcoin.com does not provide investment, tax, legal, or accounting advice. Neither the company nor the author is responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods or services mentioned in this article.
Tony Hawk's Latest NFTs to Come With Signed Physical Skateboards
Last December, the renowned professional skateboarder Tony Hawk released his “Last Trick” non-fungible token (NFT) collection via the NFT marketplace Autograph. Next week, Hawk will be auctioning the skateboards he used during his last tricks, and each of the NFTs ... read more.
PRESS RELEASE. Crypto has a mission, to manifest optimal potential of blockchain and let users gain control of their data, identity and money. Needless to say, security is the most important metric that differentiates the best crypto wallet from others.
In the pursuit of the same, Antier, a leading blockchain consulting firm, has taken a leap over conventional practices and building multiparty computation (MPC) crypto wallets.
MPC wallets are a new and innovative type of wallet that provides enhanced security and privacy for users by distributing the private keys among multiple parties. An MPC wallet uses a single private key that is divided and shared among multiple individuals, in contrast to a multi-sig wallet which requires multiple private keys for transaction validation.
The future of crypto wallets in the making
Also known as threshold wallets, MPC wallets use advanced cryptographic techniques to split the private key of a wallet among multiple parties, making it much more difficult for hackers to steal the funds stored in the wallet.
Here, multiple parties must approve transactions before they can be processed, making it much more difficult for any one party to steal the funds.
This enables multiple parties to access the funds stored in the wallet, making it easier for people to share access to a common fund or account. Not to miss, they support more users than traditional wallets which are mostly single-user thus making them more scalable.
MPC wallets also enable the users to share sensitive information without revealing the full information to any one party, which can help to protect user privacy.
As an experienced entity in this industry for over 7 years now, Antier is well versed with the concerns around lost keys and thus lost wealth. Unsurprisingly, bitcoins worth 100 billion USD became unrecoverable due to private key mismanagement.
“MPC wallets are more resilient to failure than traditional single-user wallets, as the private key is split among multiple parties, ensuring that even if one party’s key is lost, the funds are still accessible.” comments Vikram R Singh, Antier’s CEO., on the fault tolerance capability.
Additionally, MPC wallets are useful in enforcing compliance rules, such as requiring multiple approvals for transactions above a certain threshold, which can help organizations meet regulatory requirements.
As a reputed crypto wallet development company, Antier is enabling their partners in elevating security quotient and addresses one of the most important concerns of this industry.
No wonder, Antier’s experience in building layer-1 blockchain protocols is a testimony of their deep-rooted experience in creating valuable crypto products.
Antier has the expertise required to develop MPC wallets, as well as other blockchain products such as decentralized finance (DeFi) platforms, non-fungible tokens (NFTs), metaverse development, layer-1 blockchain development, and tokenization solutions. The company has a proven track record of delivering cutting-edge solutions to clients in a wide range of industries.
With MPC wallet development, they look forward to disrupting the growing market.
“Our team is highly experienced in a wide range of blockchain products, and we are well-positioned to help our clients navigate the rapidly-evolving blockchain landscape.” Adds Vikram.
At the time of writing this, Antier is a team of 700+ blockchain professionals, making them one of the largest teams in the industry. With 5+ global centres and loads of passion to handpick the graving issues of the crypto industry, Antier is taking a leap over tried & tested services. The consulting firm aims to nourish and produce a pool of blockchain professionals across roles for the web3 industry.
Web3 is here
With its expertise in MPC wallet development, the company is well-positioned to help businesses and individuals secure their digital assets and take advantage of the many benefits of blockchain technology.
Checkout the vast portfolio of blockchain products and services on their website www.antiersolutions.com.
This is a press release. Readers should do their own due diligence before taking any actions related to the promoted company or any of its affiliates or services. Bitcoin.com is not responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods or services mentioned in the press release.
Bitcoin.com is the premier source for everything crypto-related. Contact the Media team on ads@bitcoin.com to talk about press releases, sponsored posts, podcasts and other options.
Image Credits: Shutterstock, Pixabay, Wiki Commons
Ripple CEO: SEC Lawsuit Over XRP 'Has Gone Exceedingly Well'
The CEO of Ripple Labs says that the lawsuit brought by the U.S. Securities and Exchange Commission (SEC) against him and his company over XRP "has gone exceedingly well." He stressed: "This case is important, not just for Ripple, it’s ... read more.
PRESS RELEASE. Crypto has a mission, to manifest optimal potential of blockchain and let users gain control of their data, identity and money. Needless to say, security is the most important metric that differentiates the best crypto wallet from others.
In the pursuit of the same, Antier, a leading blockchain consulting firm, has taken a leap over conventional practices and building multiparty computation (MPC) crypto wallets.
MPC wallets are a new and innovative type of wallet that provides enhanced security and privacy for users by distributing the private keys among multiple parties. An MPC wallet uses a single private key that is divided and shared among multiple individuals, in contrast to a multi-sig wallet which requires multiple private keys for transaction validation.
The future of crypto wallets in the making
Also known as threshold wallets, MPC wallets use advanced cryptographic techniques to split the private key of a wallet among multiple parties, making it much more difficult for hackers to steal the funds stored in the wallet.
Here, multiple parties must approve transactions before they can be processed, making it much more difficult for any one party to steal the funds.
This enables multiple parties to access the funds stored in the wallet, making it easier for people to share access to a common fund or account. Not to miss, they support more users than traditional wallets which are mostly single-user thus making them more scalable.
MPC wallets also enable the users to share sensitive information without revealing the full information to any one party, which can help to protect user privacy.
As an experienced entity in this industry for over 7 years now, Antier is well versed with the concerns around lost keys and thus lost wealth. Unsurprisingly, bitcoins worth 100 billion USD became unrecoverable due to private key mismanagement.
“MPC wallets are more resilient to failure than traditional single-user wallets, as the private key is split among multiple parties, ensuring that even if one party’s key is lost, the funds are still accessible.” comments Vikram R Singh, Antier’s CEO., on the fault tolerance capability.
Additionally, MPC wallets are useful in enforcing compliance rules, such as requiring multiple approvals for transactions above a certain threshold, which can help organizations meet regulatory requirements.
As a reputed crypto wallet development company, Antier is enabling their partners in elevating security quotient and addresses one of the most important concerns of this industry.
No wonder, Antier’s experience in building layer-1 blockchain protocols is a testimony of their deep-rooted experience in creating valuable crypto products.
Antier has the expertise required to develop MPC wallets, as well as other blockchain products such as decentralized finance (DeFi) platforms, non-fungible tokens (NFTs), metaverse development, layer-1 blockchain development, and tokenization solutions. The company has a proven track record of delivering cutting-edge solutions to clients in a wide range of industries.
With MPC wallet development, they look forward to disrupting the growing market.
“Our team is highly experienced in a wide range of blockchain products, and we are well-positioned to help our clients navigate the rapidly-evolving blockchain landscape.” Adds Vikram.
At the time of writing this, Antier is a team of 700+ blockchain professionals, making them one of the largest teams in the industry. With 5+ global centres and loads of passion to handpick the graving issues of the crypto industry, Antier is taking a leap over tried & tested services. The consulting firm aims to nourish and produce a pool of blockchain professionals across roles for the web3 industry.
Web3 is here
With its expertise in MPC wallet development, the company is well-positioned to help businesses and individuals secure their digital assets and take advantage of the many benefits of blockchain technology.
Checkout the vast portfolio of blockchain products and services on their website www.antiersolutions.com.
This is a press release. Readers should do their own due diligence before taking any actions related to the promoted company or any of its affiliates or services. Bitcoin.com is not responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods or services mentioned in the press release.
Bitcoin.com is the premier source for everything crypto-related. Contact the Media team on ads@bitcoin.com to talk about press releases, sponsored posts, podcasts and other options.
Image Credits: Shutterstock, Pixabay, Wiki Commons
Ripple CEO: SEC Lawsuit Over XRP 'Has Gone Exceedingly Well'
The CEO of Ripple Labs says that the lawsuit brought by the U.S. Securities and Exchange Commission (SEC) against him and his company over XRP "has gone exceedingly well." He stressed: "This case is important, not just for Ripple, it’s ... read more.
PRESS RELEASE. Miami, Florida, 24th January, Chainwire. Genesis Coin Inc, the first and largest Bitcoin ATM software platform worldwide announced today that they have been acquired by early Bitcoin ATM pioneers Andrew Barnard and Doug Carrillo.
Founded in 2013, Genesis Coin’s technology powers approximately 35% of global Bitcoin ATM transactions. Barnard and Carrillo, who also founded Bitstop, built the first and largest private-label Bitcoin ATM platform based in Miami, FL with over 2,500+ Bitcoin ATMs worldwide. Genesis Coin and Bitstop represent over 75+ operators operating 12,000+ Bitcoin ATMs in the United States and international markets powering billions of dollars in annual sales volume.
As part of the acquisition, Andrew Barnard will become Chief Executive Officer and Doug Carrillo will become Chief Strategy Officer and both will join the Board of Directors of Genesis Coin. Evan Rose, Genesis Coin’s founder, will stay on as a technical advisor and remain a member of the company’s Board of Directors. The Genesis Coin headquarters will move to Miami, Florida.
“Genesis Coin gave birth to the Bitcoin ATM industry,” said Barnard. “It’s the first and largest Bitcoin ATM software platform in The World. Evan built a platform trusted by some of the largest Bitcoin ATM operators in our industry, both domestically and internationally, including the Chivo network in partnership with the Government of El Salvador.
Our industry is now rapidly changing and Genesis Coin will lead the way into the future. Accomplishing this requires a solid team of world-class visionaries and developers. At Bitstop, we built an incredible software team and platform which has partnered with some of the largest companies both private and publicly traded from the traditional ATM industry. We plan to bring our background and expertise in building the best technology and team in the Bitcoin ATM industry to Genesis Coin. We believe this is a win-win for all stakeholders,” furthered Barnard.
“Andrew, Doug, and I have been friends for a long time and have also been friendly competitors,” commented Rose. “They have a reputation for their innovative and creative thinking. In addition, they have been successful in establishing key relationships in the Bitcoin space and their technical expertise and knowledge of Bitcoin is very impressive. In turn, this has allowed them to attract and retain top-tier talent and build great products. This transaction represents the coming together of the two leading software platforms in the industry and creates value for both companies’ stakeholders. It combines the best product, engineering, and leadership teams in the space. I’m thrilled to work alongside them and look forward to introducing very exciting new products and services we have planned for this year,” commented Rose.
Barnard, Carrillo and Rose stressed the importance of continuing to provide stability to both platforms and continuing to service the needs of operators on both platforms. For the time being, both the Genesis Coin and Bitstop platforms will continue to run independently while exploring technical synergies. Genesis Coin has already made several key hires to its development team with a core focus on product development.
“This acquisition represents the most significant event in the Bitcoin ATM industry to date,” said Carrillo. “Our commitment is to provide Genesis Coin with the proper resources it needs to pave the way for continued growth and innovation. We truly believe that this new combination of the best minds in our space will be the catalyst for the Bitcoin ATM industry evolving into its next phase. We are hyper-focused on building the best software for Bitcoin ATMs in the world. Today, the most sophisticated operators in our industry rely on Genesis Coin and Bitstop technology to power their businesses. As a result, we have become ‘The Standard’ in the Bitcoin ATM space where virtually all industry organic M&A activity today is occurring on the Genesis Coin and Bitstop networks.” concluded Carrillo.
“Leverage dominated the entire cryptocurrency space over the last two years. Many other platforms in our industry couldn’t resist the siren song,” said Barnard. “This is a capital-intensive industry where you do not want to be in a lot of debt. Genesis Coin is financially secure with a strong balance sheet, no debt, and strong cash flow. The company does not have external investors. The result of this is that operators can build their future on the Genesis Coin platform with confidence. In a volatile industry, we are a beacon of stability. We are bullish on the potential of this industry. We see significant market growth from here over the next 10 years. We believe we are in the best position in the industry to unite the very best operators and support their growth. Our goal is to listen to our operators and deliver the very best products and features to them so they can deliver maximum value to their customers at scale,” concluded Barnard.
About Genesis Coin
Genesis Coin is the first and largest white-label Bitcoin ATM network worldwide. We are the premier provider of autonomous vending solutions for bitcoin. Genesis Coin’s proprietary managed infrastructure software solution has propelled it to become the largest provider of Bitcoin ATMs and software facilitating self-service buying and selling billions of dollars in cryptocurrencies across the world annually. Genesis Coin’s software provides customers with a reliable, tailored operating platform. Genesis Coin delivers its software by selling BTMs to third-party operators who provide opportunities for businesses looking to diversify their revenue and drive foot traffic to their locations. Our machines make bitcoin simple for everyone. www.bitcoinatm.com
Contact
CEO
Andrew Barnard
Genesis Coin Inc
media@bitcoinatm.com
This is a press release. Readers should do their own due diligence before taking any actions related to the promoted company or any of its affiliates or services. Bitcoin.com is not responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods or services mentioned in the press release.
Bitcoin.com is the premier source for everything crypto-related. Contact the Media team on ads@bitcoin.com to talk about press releases, sponsored posts, podcasts and other options.
Image Credits: Shutterstock, Pixabay, Wiki Commons
Fidelity Investments Launches Crypto, Metaverse ETFs — Says 'We Continue to See Demand'
Fidelity Investments, one of the largest financial services firms with more than $11 trillion under administration, is launching exchange-traded funds (ETFs) focusing on the crypto ecosystem and the metaverse. "We continue to see demand, particularly from young investors, for access ... read more.
Source From : News