Avalanche fell to a two-week low on Tuesday, as the token broke out of a key support point. Prices fell below a floor at $17.50, which comes as the global cryptocurrency market cap is down by 1.01% as of writing. Polkadot also extended its recent losses, falling by nearly 3% on Feb. 28.
Avalanche (AVAX) slipped to a multi-week low on Tuesday, as prices moved below a key support point.
Following a high of $18.62 to start the week, AVAX/USD dropped to a bottom of $17.39 earlier in today’s session.
This move saw avalanche hit its weakest level since February 13, which is the last time prices were under $17.00.
From the chart, it appears that one of the catalysts for the drop was a breakout on the relative strength index (RSI).
Price strength dropped below a floor at 43.00, and as of writing, the RSI is tracking at the 42.28 level.
The next visible point of support seems to be near the 40.00 mark, and should this be hit, there is a strong chance that AVAX will move below $17.00.
In addition to AVAX, polkadot (DOT) also extended recent losses, falling for a second straight session.
DOT/USD moved to a low of $6.43 on Tuesday, after starting the week trading at a high of $6.78.
As a result of today’s drop, DOT has now fallen for seven of the last eight sessions, dropping by over 11% in that time.
Like with AVAX, today’s sell-off came as the RSI broke out of a floor — in this instance the 48.00 zone.
As of writing, the index is hovering closer to 47.00, with bears seemingly targeting a support point at $6.30.
The 10-day (red) moving average is now firmly downward facing, which sums up the current momentum in the market.
Register your email here to get weekly price analysis updates sent to your inbox:
Could polkadot hit $6.30 in the coming days? Let us know your thoughts in the comments.
Eliman was previously a director of a London-based brokerage, whilst also an online trading educator. Currently, he commentates on various asset classes, including Crypto, Stocks and FX, whilst also a startup founder.
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.
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.
Avalanche fell to a two-week low on Tuesday, as the token broke out of a key support point. Prices fell below a floor at $17.50, which comes as the global cryptocurrency market cap is down by 1.01% as of writing. Polkadot also extended its recent losses, falling by nearly 3% on Feb. 28.
Avalanche (AVAX) slipped to a multi-week low on Tuesday, as prices moved below a key support point.
Following a high of $18.62 to start the week, AVAX/USD dropped to a bottom of $17.39 earlier in today’s session.
This move saw avalanche hit its weakest level since February 13, which is the last time prices were under $17.00.
From the chart, it appears that one of the catalysts for the drop was a breakout on the relative strength index (RSI).
Price strength dropped below a floor at 43.00, and as of writing, the RSI is tracking at the 42.28 level.
The next visible point of support seems to be near the 40.00 mark, and should this be hit, there is a strong chance that AVAX will move below $17.00.
In addition to AVAX, polkadot (DOT) also extended recent losses, falling for a second straight session.
DOT/USD moved to a low of $6.43 on Tuesday, after starting the week trading at a high of $6.78.
As a result of today’s drop, DOT has now fallen for seven of the last eight sessions, dropping by over 11% in that time.
Like with AVAX, today’s sell-off came as the RSI broke out of a floor — in this instance the 48.00 zone.
As of writing, the index is hovering closer to 47.00, with bears seemingly targeting a support point at $6.30.
The 10-day (red) moving average is now firmly downward facing, which sums up the current momentum in the market.
Register your email here to get weekly price analysis updates sent to your inbox:
Could polkadot hit $6.30 in the coming days? Let us know your thoughts in the comments.
Eliman was previously a director of a London-based brokerage, whilst also an online trading educator. Currently, he commentates on various asset classes, including Crypto, Stocks and FX, whilst also a startup founder.
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.
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.
Following the initial incident on Feb. 25, Solana resolved the blockchain’s performance degradation after validators decided to restart the network. According to an outage report following more than 24 hours of downtime, Solana developers detailed that the “root cause is still unknown and under active investigation.”
Solana has faced renewed criticism after the blockchain network experienced its tenth downtime on Feb. 25 and into the following day. The network was widely mocked on social media and forums, including r/cryptocurrency. In one forum thread, a user wrote, “Giving a second chance is one thing I can get behind. An 11th chance, on the other hand, is beyond delusional.” Additionally, people made jokes about the bumpy restart of Solana, and in the Discord server, validators discussed adding their phone numbers to receive text messages about future restarts.
Bitcoin.com News reported on the initial downtime after the Solana Status webpage disclosed there was a problem with ‘cluster instability.’ The incident wasn’t resolved until Feb. 26, 2023, at 2:09 UTC. Some critics called the problem and previous downtime issues a “design flaw,” while others favored shorting solana (SOL). Despite the significant downtime, Solana Labs co-founder Anatoly Yakovenko defended the project, stressing that “Solana wants to be fast and super secure.” Brandon Tucker, the growth lead at Marinade Finance, a Solana-based liquid staking project, said an upcoming upgrade should significantly reduce these outages in the future.
“Chain restarts are never welcome, but it’s not a major setback,” Tucker said in a message sent to Bitcoin.com News. “Indeed, despite the furor, it’s a similar outage to the five others we’ve seen over the last 12-18 months. Ultimately, it’s good to see the validator community rally together on their own accord to initiate the updates and restart the chain in real-time. Solana is attempting to do something that no other chain has done with regard to throughput and decentralization and the path to get there is not straight – especially when it’s already being used by more people than just about any other chain,” the Marinade Finance executive added.
What do you think about the future of Solana and its ability to address these downtime issues? Despite these setbacks, do you think it has the potential to become the most widely used blockchain network? Share your thoughts in the comments 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.
Following the initial incident on Feb. 25, Solana resolved the blockchain’s performance degradation after validators decided to restart the network. According to an outage report following more than 24 hours of downtime, Solana developers detailed that the “root cause is still unknown and under active investigation.”
Solana has faced renewed criticism after the blockchain network experienced its tenth downtime on Feb. 25 and into the following day. The network was widely mocked on social media and forums, including r/cryptocurrency. In one forum thread, a user wrote, “Giving a second chance is one thing I can get behind. An 11th chance, on the other hand, is beyond delusional.” Additionally, people made jokes about the bumpy restart of Solana, and in the Discord server, validators discussed adding their phone numbers to receive text messages about future restarts.
Bitcoin.com News reported on the initial downtime after the Solana Status webpage disclosed there was a problem with ‘cluster instability.’ The incident wasn’t resolved until Feb. 26, 2023, at 2:09 UTC. Some critics called the problem and previous downtime issues a “design flaw,” while others favored shorting solana (SOL). Despite the significant downtime, Solana Labs co-founder Anatoly Yakovenko defended the project, stressing that “Solana wants to be fast and super secure.” Brandon Tucker, the growth lead at Marinade Finance, a Solana-based liquid staking project, said an upcoming upgrade should significantly reduce these outages in the future.
“Chain restarts are never welcome, but it’s not a major setback,” Tucker said in a message sent to Bitcoin.com News. “Indeed, despite the furor, it’s a similar outage to the five others we’ve seen over the last 12-18 months. Ultimately, it’s good to see the validator community rally together on their own accord to initiate the updates and restart the chain in real-time. Solana is attempting to do something that no other chain has done with regard to throughput and decentralization and the path to get there is not straight – especially when it’s already being used by more people than just about any other chain,” the Marinade Finance executive added.
What do you think about the future of Solana and its ability to address these downtime issues? Despite these setbacks, do you think it has the potential to become the most widely used blockchain network? Share your thoughts in the comments 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. Sibiu, Romania [28.02.2023] – Leading technology company MultiversX Labs announces a pivotal moment in the evolution of digital finance and the Metaverse: the launch of the xPortal Super App, offering a new perspective in the way we experience the digital world.
The novelty of the xPortal Super App is in offering, for the first time, a suite of incredible features, designed to seamlessly integrate digital finance, money and crypto, with social features such as end-to-end encrypted messaging and AI avatars, along with a portal for Web3 apps and Metaverse experiences. While a true Super App, xPortal is an example of simplicity, ease of use, and beautiful user experience.
With just a few taps or the simple sending of a message, you can easily send and receive money, crypto and NFTs, make payments, use a debit card, track investments, and explore the financial, crypto, and NFTs ecosystems. But it’s not just about the numbers: with xPortal, you can personalize and unlock new experiences by creating cool AI avatars and enabling interactions and messaging with friends, all within a secure and private environment.
“The xPortal Super App is an instrumental step on our mission to build the backbone for a new digital financial system that spans across the physical and the metaverse world. Our ambition is that everyone, no matter where they are or what their background is, should have easy access to secure and efficient financial services that can help them achieve their goals and live their best lives. All this becomes available today.” said Beniamin Mincu, MultiversX Labs CEO.
The xPortal Super App is also a gateway to a vast array of apps and metaverse experiences. With a digital App Store at your fingertips, you can explore the latest and greatest Web3 apps and visit new Metaverse events and worlds, each with their own unique and exciting benefits and experiences.
”xPortal’s ability to make Web3 and the Metaverse accessible to any smartphone user in the world, shifts the entire conversation around all-accessible digital experiences from a distant vision of the future, into a reality today,” said Sergiu Biris, MultiversX Labs Head of Product.
Built on top of its first iteration which gained over 1,1 million users in just over a year, and first demoed last November at xDay in Paris, xPortal’s mission is to onboard 1 billion users to a new set of fun and useful services, experiences, and applications, making digital finance, Web3, and the Metaverse accessible and easy to use by anyone, anywhere.
https://xportal.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.
Source From : News