Home / Supply Chain News /Bitsgap Announces Platform Updates Ahead Of Christmas Sale

Bitsgap Announces Platform Updates Ahead Of Christmas Sale

21 Dec 2022

Ethereum classic rallied for a second straight session on Wednesday, following better-than-expected U.S. consumer confidence data. The figures showed that confidence among American consumers rose to the highest level in eight months, with a reading of 108.3. Monero was also higher on the news, as it extended recent gains.

Ethereum classic (ETC) rose for a second straight day on Wednesday, as markets responded to better-than-expected U.S. consumer confidence data.

Today’s figures, which were initially expected to come in at 101, came in higher than anticipated, with a reading of 108.3 in December.

As a result of today’s data, ETC/USD raced to a peak of $16.64 earlier in the day, which is nearly 5% higher than Tuesday’s low at $15.59.

Looking at the chart, the move came as price continued to move away from Monday’s bottom of $14.74, which was the lowest point ETC had hit since July.

The surge coincided with the 14-day relative strength index (RSI) climbing from a floor of its own at 28.00, and it is currently tracking at 37.61.

The index now seems set to collide with a resistance at 41.00, which could mean that prices will begin to decline.

Monero (XMR) was another notable gainer in today’s session, as prices surged for a fifth straight day.

Following a low of $146.31 on Tuesday, XMR/USD surged to an intraday high of $148.16 earlier in the day.

Wednesday’s move now puts monero at its highest point since Friday, with the token closing in on a resistance level at $150.00.

From the chart, the move comes as the RSI rose above a resistance level of 54.00, and it is currently tracking at 55.88.

Despite recent bullish sentiment, the 10-day (red) moving average now looks set to crossover with its 25-day (blue) counterpart.

Should this move take place, then XMR will likely move towards a floor around the $139 region.

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Tags in this story
Analysis, ETC, Ethereum Classic, Monero, xmr

Could bullish momentum continue throughout the week? 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 retail trading educator. Currently, he acts as a commentator across various asset classes, including Crypto, Stocks and FX.

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.

Central Bank of Brazil Confirms It Will Run a Pilot Test for Its CBDC This Year

The Central Bank of Brazil has confirmed that the institution will run a pilot test regarding the implementation of its proposed central bank digital currency (CBDC), the digital real. Roberto Campos Neto, president of the bank, also stated that this ... read more.

Ethereum classic rallied for a second straight session on Wednesday, following better-than-expected U.S. consumer confidence data. The figures showed that confidence among American consumers rose to the highest level in eight months, with a reading of 108.3. Monero was also higher on the news, as it extended recent gains.

Ethereum classic (ETC) rose for a second straight day on Wednesday, as markets responded to better-than-expected U.S. consumer confidence data.

Today’s figures, which were initially expected to come in at 101, came in higher than anticipated, with a reading of 108.3 in December.

As a result of today’s data, ETC/USD raced to a peak of $16.64 earlier in the day, which is nearly 5% higher than Tuesday’s low at $15.59.

Looking at the chart, the move came as price continued to move away from Monday’s bottom of $14.74, which was the lowest point ETC had hit since July.

The surge coincided with the 14-day relative strength index (RSI) climbing from a floor of its own at 28.00, and it is currently tracking at 37.61.

The index now seems set to collide with a resistance at 41.00, which could mean that prices will begin to decline.

Monero (XMR) was another notable gainer in today’s session, as prices surged for a fifth straight day.

Following a low of $146.31 on Tuesday, XMR/USD surged to an intraday high of $148.16 earlier in the day.

Wednesday’s move now puts monero at its highest point since Friday, with the token closing in on a resistance level at $150.00.

From the chart, the move comes as the RSI rose above a resistance level of 54.00, and it is currently tracking at 55.88.

Despite recent bullish sentiment, the 10-day (red) moving average now looks set to crossover with its 25-day (blue) counterpart.

Should this move take place, then XMR will likely move towards a floor around the $139 region.

Register your email here to get weekly price analysis updates sent to your inbox:

Tags in this story
Analysis, ETC, Ethereum Classic, Monero, xmr

Could bullish momentum continue throughout the week? 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 retail trading educator. Currently, he acts as a commentator across various asset classes, including Crypto, Stocks and FX.

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.

Central Bank of Brazil Confirms It Will Run a Pilot Test for Its CBDC This Year

The Central Bank of Brazil has confirmed that the institution will run a pilot test regarding the implementation of its proposed central bank digital currency (CBDC), the digital real. Roberto Campos Neto, president of the bank, also stated that this ... read more.

On Dec. 21, 2022, one of the largest bitcoin mining operations in the industry, Core Scientific, filed for Chapter 11 bankruptcy protection in the Southern District of Texas. According to the filing, Core Scientific has roughly 1,000 to 5,000 creditors and its estimated assets are worth between $1-10 billion.

Another crypto firm has filed for bankruptcy protection as the crypto winter has caused a myriad of businesses to shudder this year. On Wednesday, Core Scientific (Nasdaq: CORZ), one of the largest bitcoin mining companies, filed for bankruptcy in Texas.

The filing notes that Core Scientific has $1-10 billion in assets, but also $1-10 billion in liabilities as well. Additionally, Core Scientific details that the largest creditor is the financial institution B. Riley, alongside 1,000 to 5,000 other creditors.

Core Scientific joins a long list of crypto firms that have filed for bankruptcy protection this year, and is one of several crypto mining operations that have faltered financially as well. For instance, in late Sept. 2022, Compute North filed for Chapter 11 bankruptcy protection.

Financial issues have struck bitcoin mining operations like Argo Blockchain, Iris Energy, and Greenidge Generation. Greenidge managed to secure a restructuring deal with NYDIG on Dec. 20, but Greenidge’s financials say voluntary bankruptcy is still in the cards.

According to the filing, Core Scientific operated close to 250K machines and roughly 24.4 exahash per second (EH/s) of hashrate. In addition to B. Riley, other Core Scientific creditors include Dalton Utilities, Shell Energy Solutions, U.S. Customs and Border Patrol, Duke Energy, Amazon Web Services Inc., DK Construction Company, and Liveview Technologies.

The company also owns equity interest in subsidiaries like Radar Relay, Starboard Capital, and American Property Acquisition. The Chapter 11 filing was submitted by Core Scientific’s president Todd DuChene.

On Wednesday, a person familiar with the matter told CNBC that Core Scientific still generates positive cash flow and the mining operation will continue mining bitcoin to pay down debts. The source further said that the operation will not liquidate and it plans to negotiate a deal with senior security noteholders, CNBC contributor MacKenzie Sigalos detailed.

What do you think about Core Scientific filing for Chapter 11 bankruptcy protection on Dec. 21? Let us know what you think about this subject 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.

Central Bank of Brazil Confirms It Will Run a Pilot Test for Its CBDC This Year

The Central Bank of Brazil has confirmed that the institution will run a pilot test regarding the implementation of its proposed central bank digital currency (CBDC), the digital real. Roberto Campos Neto, president of the bank, also stated that this ... read more.

On Dec. 21, 2022, one of the largest bitcoin mining operations in the industry, Core Scientific, filed for Chapter 11 bankruptcy protection in the Southern District of Texas. According to the filing, Core Scientific has roughly 1,000 to 5,000 creditors and its estimated assets are worth between $1-10 billion.

Another crypto firm has filed for bankruptcy protection as the crypto winter has caused a myriad of businesses to shudder this year. On Wednesday, Core Scientific (Nasdaq: CORZ), one of the largest bitcoin mining companies, filed for bankruptcy in Texas.

The filing notes that Core Scientific has $1-10 billion in assets, but also $1-10 billion in liabilities as well. Additionally, Core Scientific details that the largest creditor is the financial institution B. Riley, alongside 1,000 to 5,000 other creditors.

Core Scientific joins a long list of crypto firms that have filed for bankruptcy protection this year, and is one of several crypto mining operations that have faltered financially as well. For instance, in late Sept. 2022, Compute North filed for Chapter 11 bankruptcy protection.

Financial issues have struck bitcoin mining operations like Argo Blockchain, Iris Energy, and Greenidge Generation. Greenidge managed to secure a restructuring deal with NYDIG on Dec. 20, but Greenidge’s financials say voluntary bankruptcy is still in the cards.

According to the filing, Core Scientific operated close to 250K machines and roughly 24.4 exahash per second (EH/s) of hashrate. In addition to B. Riley, other Core Scientific creditors include Dalton Utilities, Shell Energy Solutions, U.S. Customs and Border Patrol, Duke Energy, Amazon Web Services Inc., DK Construction Company, and Liveview Technologies.

The company also owns equity interest in subsidiaries like Radar Relay, Starboard Capital, and American Property Acquisition. The Chapter 11 filing was submitted by Core Scientific’s president Todd DuChene.

On Wednesday, a person familiar with the matter told CNBC that Core Scientific still generates positive cash flow and the mining operation will continue mining bitcoin to pay down debts. The source further said that the operation will not liquidate and it plans to negotiate a deal with senior security noteholders, CNBC contributor MacKenzie Sigalos detailed.

What do you think about Core Scientific filing for Chapter 11 bankruptcy protection on Dec. 21? Let us know what you think about this subject 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.

Central Bank of Brazil Confirms It Will Run a Pilot Test for Its CBDC This Year

The Central Bank of Brazil has confirmed that the institution will run a pilot test regarding the implementation of its proposed central bank digital currency (CBDC), the digital real. Roberto Campos Neto, president of the bank, also stated that this ... read more.

PRESS RELEASE. Swarm, the decentralised storage and communication system built on Ethereum, is announcing the mainnet release of its storage incentives programme, a mechanism to reward storage providers, which now incorporates staking.

Swarm has been in development for the past five years, having over $6 million in 2021 through a private funding round led by VCs such HashKey Capital, KR1, and NGC Ventures. Recently in September Swarm team published an updated network roadmap, and their native token BZZ reacted with a price increase up to 40%.

The storage incentive programme is open to the Swarm community and anyone willing to share spare storage space and an internet connection. Financial rewards, in the form of Swarm’s utility token (BZZ), will be distributed among storage operators in exchange for their participation.

Rewards are based on the price of renting storage, determined by market forces of supply and demand. Currently, the price of renting storage is fixed, but in the future an oracle system will be introduced to update prices automatically, further contributing to Swarm’s decentralisation.

Storage Incentives, Staking Introduction and node requirements

Staking has been introduced to enable participation in the redistribution mechanism. The mechanism used resembles Ethereum’s POS (Proof of Stake), where nodes are chosen to receive all network storage fees periodically. Storage rent fees will be updated in the following weeks up to more than 1000x from the current price point.

To become a node operator, a standard computer with 20GB of storage and a stable internet connection is required, the most accessible requirements in its class to empower decentralisation.

The Swarm network is already operational and the team expects the incentives mechanism to help the Swarm economy expand, with the network becoming fully self-sustainable while enforcing a healthy balance between storage operators and users.

Daniel Nagy, chief scientist and vice president for Swarm Foundation, commented: “Proper incentives for storing information and making it available upon request are what makes Swarm self-sustaining and viable in the long term, without subsidies or reliance on altruism”

WEB3PC – A personal “World Computer”

With Swarm, Ethereum’s initial idea of the “world computer” is being upgraded. A new brand of computers, a Web3PC that is private by design and respectful of the users’ right to use and produce content.

This new computer will communicate, store and provide services without leaking any private information. All data will completely belong to its rightful owners. Fairdrive, a Dropbox-like solution for file storage in Swarm, is already available, both as a desktop App and a component of the Web3PC.

Fairdrive allows individuals to easily use the Swarm network in a familiar Web 2.0 fashion. Plus, with its open source and interoperable design, developers can easily plug their dApps into Fairdrive, giving users a full Web3 experience from the comfort of their own computers. All the data created from using Fairdrive is stored following the simple rule: local first, Swarm second.

The team plans to have a working Web3 PC prototype out in the wild by June 2023.

About Swarm

Swarm is a decentralised data storage and distribution technology. It’s a base layer infrastructure for Web3 on which developers can create, host, and store dApps and all their accompanying data, NFT meta-data, and media files. It’s an open-source, p2p network that respects the privacy of it users’ data and secures it by default.

The Swarm protocol shares similarities with P2P (peer-to-peer) storage networks like BitTorrent but stands out with its integrated economic incentives, which enable permissionless storage and greater resistance to censorship.

A structural difference is the storage contract. With other popular decentralised storage solutions it is made with the storer, suitable for private data only. In Swarm, due to its architecture, such a deal is made with the network, delivering the permissionless property and making it suitable for both private and public data.

Swarm aims to serve as the serverless internet operating system for hosting and running dApps (decentralised applications).

Learn more by visiting www.ethswarm.org

Contact
pr@ethswarm.org

 

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

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. Swarm, the decentralised storage and communication system built on Ethereum, is announcing the mainnet release of its storage incentives programme, a mechanism to reward storage providers, which now incorporates staking.

Swarm has been in development for the past five years, having over $6 million in 2021 through a private funding round led by VCs such HashKey Capital, KR1, and NGC Ventures. Recently in September Swarm team published an updated network roadmap, and their native token BZZ reacted with a price increase up to 40%.

The storage incentive programme is open to the Swarm community and anyone willing to share spare storage space and an internet connection. Financial rewards, in the form of Swarm’s utility token (BZZ), will be distributed among storage operators in exchange for their participation.

Rewards are based on the price of renting storage, determined by market forces of supply and demand. Currently, the price of renting storage is fixed, but in the future an oracle system will be introduced to update prices automatically, further contributing to Swarm’s decentralisation.

Storage Incentives, Staking Introduction and node requirements

Staking has been introduced to enable participation in the redistribution mechanism. The mechanism used resembles Ethereum’s POS (Proof of Stake), where nodes are chosen to receive all network storage fees periodically. Storage rent fees will be updated in the following weeks up to more than 1000x from the current price point.

To become a node operator, a standard computer with 20GB of storage and a stable internet connection is required, the most accessible requirements in its class to empower decentralisation.

The Swarm network is already operational and the team expects the incentives mechanism to help the Swarm economy expand, with the network becoming fully self-sustainable while enforcing a healthy balance between storage operators and users.

Daniel Nagy, chief scientist and vice president for Swarm Foundation, commented: “Proper incentives for storing information and making it available upon request are what makes Swarm self-sustaining and viable in the long term, without subsidies or reliance on altruism”

WEB3PC – A personal “World Computer”

With Swarm, Ethereum’s initial idea of the “world computer” is being upgraded. A new brand of computers, a Web3PC that is private by design and respectful of the users’ right to use and produce content.

This new computer will communicate, store and provide services without leaking any private information. All data will completely belong to its rightful owners. Fairdrive, a Dropbox-like solution for file storage in Swarm, is already available, both as a desktop App and a component of the Web3PC.

Fairdrive allows individuals to easily use the Swarm network in a familiar Web 2.0 fashion. Plus, with its open source and interoperable design, developers can easily plug their dApps into Fairdrive, giving users a full Web3 experience from the comfort of their own computers. All the data created from using Fairdrive is stored following the simple rule: local first, Swarm second.

The team plans to have a working Web3 PC prototype out in the wild by June 2023.

About Swarm

Swarm is a decentralised data storage and distribution technology. It’s a base layer infrastructure for Web3 on which developers can create, host, and store dApps and all their accompanying data, NFT meta-data, and media files. It’s an open-source, p2p network that respects the privacy of it users’ data and secures it by default.

The Swarm protocol shares similarities with P2P (peer-to-peer) storage networks like BitTorrent but stands out with its integrated economic incentives, which enable permissionless storage and greater resistance to censorship.

A structural difference is the storage contract. With other popular decentralised storage solutions it is made with the storer, suitable for private data only. In Swarm, due to its architecture, such a deal is made with the network, delivering the permissionless property and making it suitable for both private and public data.

Swarm aims to serve as the serverless internet operating system for hosting and running dApps (decentralised applications).

Learn more by visiting www.ethswarm.org

Contact
pr@ethswarm.org

 

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

NFT Sales Volume Saw a Small Uptick This Week — Moonbirds, Mutant Apes Take Top Sales

Non-fungible token (NFT) sales saw a small uptick over the last week as $658.4 million in NFT sales were recorded, up 3.35% in seven days. Out of 15 blockchains, Polygon-based NFT sales saw the largest increase in volume, jumping 106.68% ... read more.

PRESS RELEASE. Tallinn, Estonia Bitsgap, the largest crypto aggregator and automated trading platform, is revamping its three most successful crypto trading bots ahead of this year’s final major sales campaign.

Despite the bear market, Bitsgap has seen remarkable growth and is confident about the future. In the run-up to the Christmas gift-giving season, the team has made significant efforts to update some of its key automated trading tools.

Now, they are even easier to start, more efficient, and more profitable.

“For us, these months have been full of intense work. We put a lot of effort into adding extra security layers for our customers and developing new features,” says Max Kalmykov, CEO of Bitsgap.

“And now, we’re thrilled to have revamped our best trading bots in time for the Christmas sale so that everyone can trade with the best trading tools on the market at a 30% discount.”

The DCA, GRID, and BTD (Buy the Dip) bots have been completely redesigned and can now be launched with just three clicks.

While all bots can be used in both bullish and bearish markets, the team has added some lucrative pre-built strategies that specifically take advantage of falling markets.

The DCA Bot gets a wholly redesigned launcher and backtest feature — along with shorting strategy that allows clients to make profits by buying coins when their price decreases.

The updated GRID Bot now has a more intuitive, user-friendly interface that allows traders to launch the bot with just three clicks.

The new BTD Bot uses the trendy Buy the Dip strategy and gives traders the opportunity to buy more coins when their price falls — to accelerate future profits when the market rises again.

Apart from the default profitable settings, DCA and GRID bots are fully customizable and can follow any individual strategy.

“We’re looking forward to welcoming this year’s holiday shopping season with fully updated features,” continues Max Kalmykov.

“Our annual subscription offers a fantastic opportunity to save; combined with the Christmas sale, this is a savings opportunity not to be missed! Both existing and new users can subscribe at an excellent discount and give themselves a perfect gift for themselves for the whole coming year!”

The Christmas sale at Bitsgap runs from Dec 21 to Dec 30, 2022. Traders can subscribe and get a seven-day free trial or upgrade their current plans with a 30% discount on the Bitsgap website or the platform itself.

About Bitsgap

Founded in 2016 in Estonia with the noble goal of making cryptocurrency trading across multiple exchanges more accessible and efficient, Bitsgap has grown into one of the largest crypto aggregators with more than 15 connected exchanges, over 100 team members, and a large community of 500K+ traders.

Bitsgap’s flagship product is a cloud-based, automated crypto trading platform that provides users with a complete suite of manual and automated trading tools like smart orders, trading bots, and risk and portfolio management. Bitsgap especially takes pride in its trading bots — DCA and GRID — which have shown fantastic returns in the crypto market and attracted a large following with almost 4M bots started and overall trading volumes exceeding $300B in 2022.

 

 

 

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

Draft Law Regulating Aspects of Crypto Taxation Submitted to Russian Parliament

A bill updating Russia’s tax law to incorporate provisions pertaining to cryptocurrencies has been filed with the State Duma, the lower house of parliament. The legislation is tailored to regulate the taxation of sales and profits in the country’s market ... read more.

Source From : News

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