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  • Polygon (MATIC/USD) defends support as the last testnet launches with a huge milestone

    Polygon (MATIC/USD) defends support as the last testnet launches with a huge milestone

    • Polygon announced the second testnet before going live on mainnet 

    • MATIC has consolidated at $0.8 for the past week

    • The token could resist bear pressure to rise toward $1

    Polygon (MATIC/USD) traded at a support zone at $0.8 on Friday, a level it has held for a week. Although the consolidation is not positive for bulls, it should give hope for a potential recovery. That’s combined with positive cryptocurrency news for the Polygon network.

    According to the latest announcement, Polygon has launched its second and final public testnet. The testnet makes Polygon ready for the mainnet launch in Ethereum, expected in early 2023. The announcement indicated that the testnet was for a new upgrade, dubbed recursion. The upgrade is expected to boost Ethereum scaling significantly. 

    Polygon has lauded the upgrade, which says it is the first zkEVM, a new scaling technology on Ethereum. zkEVM is expected to enhance Ethereum’s speeds and privacy and cut transaction costs. That would make it easier to build dApps. 

    MATIC price is yet to react to the positive developments. However, data from PolygonScan shows that unique addresses on the network are rising. The addresses hit an all-time high of more than 201 million this week. The growth underlines continued growth in the activity that could boost MATIC’s price at a later date.

    MATIC defends the $0.8 zone from the bear pressure

    MATIC/USD Chart by TradingView

    The daily chart outlook puts bears in control of MATIC. The RSI remains below the midpoint, while the MACD indicator is bearish, with weak momentum. 

    However, from the price outlook, MATIC has stabilised around $0.08. Recovery could be underway if bulls continue to build up. Buyers are still few at the support. The price could head towards $1 next in the bull scenario.

    Concluding thoughts

    We remain in a largely bear market. However, MATIC price could find a short-term appreciation if the token recovers at the support. Activity is already building on the network to give buyers hope in the medium and long term.

    Where to buy MATIC

    eToro

    eToro offers a wide range of cryptos, such as Bitcoin, XRP and others, alongside crypto/fiat and crypto/crypto pairs. eToro users can connect with, learn from, and copy or get copied by other users.


    Buy MATIC with eToro today

    Bitstamp

    Bitstamp is a leading cryptocurrency exchange which offers trading in fiat currencies or popular cryptocurrencies.

    Bitstamp is a fully regulated company which offers users an intuitive interface, a high degree of security for your digital assets, excellent customer support and multiple withdrawal methods.


    Buy MATIC with Bitstamp today

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  • Which cryptocurrencies are likely to find their way into Twitter’s payments?

    Which cryptocurrencies are likely to find their way into Twitter’s payments?

    • Investors anticipate Twitter to add cryptocurrencies to its payment methods

    • DOGE, BNB, and MASK are thought to be the likeliest additions

    • An addition would be followed by price surges

    The acquisition of Twitter by Elon Musk elicited enthusiasm from most crypto enthusiasts. A long-standing question has been whether the acquisition will pave the way for accepting cryptocurrencies as a form of payment. The potential addition of “Payments” under Twitter’s vision, dubbed Twitter 2.0, raised the speculations. The following three are touted as the most likely: 

    Dogecoin (DOGE)

    Surely Dogecoin (DOGE) cannot miss the list. After all, Musk has often been labelled the Dogecoin father owing to his support for the meme cryptocurrency. The token, created in 2013, has often been called a joke coin due to its limited utility. 

    DOGE was the first cryptocurrency to gain strongly when Musk acquired Twitter, underlining investors’ speculations. In early November, Binance announced the Bluebird Index, which included DOGE. As you already know, the “bluebird” is associated with the Twitter logo. That raised speculations that the crypto exchange was preparing to track Twitter-accepted cryptocurrencies.

    Where to buy DOGE

    eToro

    eToro offers a wide range of cryptos, such as Bitcoin, XRP and others, alongside crypto/fiat and crypto/crypto pairs. eToro users can connect with, learn from, and copy or get copied by other users.


    Buy DOGE with eToro today

    Binance coin (BNB)

    Binance (BNB/USD) is the other most rumoured cryptocurrency for Twitter payment. It is the native token of Binance, the world’s largest crypto exchange. Binance helped Musk acquire Twitter, raising speculations that the billionaire investor could return gratitude by accepting BNB as payment. Besides that, BNB is now part of the Bluebird Index. Binance CEO has also hinted at possible support of BNB on Twitter. 

    Where to buy BNB

    eToro

    eToro offers a wide range of cryptos, such as Bitcoin, XRP and others, alongside crypto/fiat and crypto/crypto pairs. eToro users can connect with, learn from, and copy or get copied by other users.


    Buy BNB with eToro today

    Binance

    Binance is one of the largest cryptocurrency exchanges in the world. It is better suited to more experienced investors and it offers a large number of cryptocurrencies to choose from, at over 600.

    Binance is also known for having low trading fees and a multiple of trading options that its users can benefit from, such as; peer-to-peer trading, margin trading and spot trading.


    Buy BNB with Binance today

    MASK

    The token of the Mask Network (MASK/USD) is the last cryptocurrency in Binance Bluebird Index. The launch of the index was followed by a strong surge in MASK price as investors speculated it could make a cut in Twitter’s payment. After all, CZ has supported the idea of the use of several cryptocurrencies on Twitter’s payment module. The inclusion in the Bluebird index is the clearest sign that MASK is a crypto to watch if Twitter implements payments.

    Where to buy MASK

    Binance

    Binance is one of the largest cryptocurrency exchanges in the world. It is better suited to more experienced investors and it offers a large number of cryptocurrencies to choose from, at over 600.

    Binance is also known for having low trading fees and a multiple of trading options that its users can benefit from, such as; peer-to-peer trading, margin trading and spot trading.


    Buy MASK with Binance today

    KuCoin

    Kucoin is a cryptocurrency exchange which offers over 200 cryptocurrencies.

    Kucoin has a wide range of services, such as; a built-in peer-to-peer exchange, spot and margin trading, bank level security and a wide range of accepted payment methods.

    Users can benefit from a beginner-friendly interface and relatively low fees.


    Buy MASK with KuCoin today

    Summary

    There are numerous cryptocurrencies that could make a cut on Twitter payments. However, DOGE, BNB, and MASK occupy the slots of top contenders. Watch their price movements if Twitter and Musk give the next hint.

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  • Breaking news : Alcazar Token listed on Bitmart exchange ethereum project on rise

    Breaking news : Alcazar Token listed on Bitmart exchange ethereum project on rise

    Breaking news : Alcazar Token listed on Bitmart exchange ethereum project on rise

    remember this is not a financial advise so take care of your money

    alcazartoken Breaking news : Alcazar Token listed on Bitmart exchange at low market cap

    https://twitter.com/alcazartoken/status/1606020830131064852?s=20&t=WEXsTmt4vvT56qUypRv87A
  • The number of SHIB holders is increasing enormously

    The number of SHIB holders is increasing enormously

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  • DOGECOIN is now listed on the top European crypto exchange Bitstamp

    DOGECOIN is now listed on the top European crypto exchange Bitstamp

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  • BABYDOGE : 1inch integrated BabyDoge router as a new liquidity source

    BABYDOGE : 1inch integrated BabyDoge router as a new liquidity source

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  • JUST IN: Babydogecoin flipped DOME for Most Traded token among top 100 BSC whales

    JUST IN: Babydogecoin flipped DOME for Most Traded token among top 100 BSC whales

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  • Bitcoin is among top 10 assets per investor interest in 2022

    Bitcoin is among top 10 assets per investor interest in 2022

    • Bitcoin sits 8th on Yahoo Finance’s list of top quotes as measured by total page views in 2022.
    • According to the platform, BTC/USD has accumulated more than 157 million quote views, with Tesla topping the list.
    • Ethereum ranks 25th while the Coinbase (COIN) stock currently sits in 30th spot.

    Cryptocurrencies have remained deep within an unforgiving crypto winter for all of 2022. That’s it.

    And December is not offering much relief to traders so far, not with heavy duty contagion amid a spike in the number of crypto projects falling into distress.

    It’s thus surprising to say that interest in Bitcoin, the world’s largest cryptocurrency by market cap, soared throughout the year. But then it has.

    Bitcoin among top 10 assets per investor interest

    The price of Bitcoin fell below $16,000 after FTX’s implosion, but as CoinJournal recently reported, large investors appear to have used that as an opportunity to buy more. That is interest that has reflected throughout the year as prices nosedived from last year’s peak above $69,000.

    According to an in-house metric Yahoo Finance uses to measure investor interest across the markets, BTC has seen a laser-like focus from investors even as prices plunged to lows last seen in 2020.

    A report the company published on Thursday showed that the BTC/USD quote has so far accumulated over 157 million views in 2022. Ranked alongside other top assets, the flagship cryptocurrency falls within the top 10. Indeed, as of Thursday, bitcoin ranked 8th on the platform’s list of top 10 trending tickers.

    Looking at the list, Tesla Inc. (TSLA) stock quote ranks first with more than 398 million views, followed by the three major US indices (the Dow Jones Industrial Average, the S&P 500 and Nasdaq). Tech giant Apple Inc. (AAPL) sits 5th with more than 249 million page views while Amazon (AMZN) comes next with 199 million views so far.

    Ethereum (ETH) is 25th on the list in terms of investor interest as measured by 63.8 million page views so far. Elsewhere, Coinbase (COIN) has also been on top of investors’ list of interesting assets, with the crypto stock ranked 30th after more than 57 million quote views.

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  • Most of the Bitcoin supply is now loss-making

    Most of the Bitcoin supply is now loss-making

    Key Takeaways

    • Bitcoin was the best performing asset class between 2011 and 2021, but the year 2022 has brought nothing but pain
    • After rising 14X from its pandemic low in March 2020 to its all-time high in November 2021 of $68,739, Bitcoin has struggled amid risk-off environment
    • Pullback has been so severe that majority of the supply is in loss-making position

    What a ride it has been for Bitcoin. 

    But as we close the chapter that is 2022, the party has turned into a nightmare for most. Literally, most. Because the majority of the Bitcoin supply, which as I write this is 19.24 million bitcoins, is in a loss-making position. 

    I have written before about this trend, and as the chart above shows, we have seen greater than 50% of the supply in a loss-making position before. But after a respite, the market has again careened downward after a certain Mr Bankman-Fried was exposed. 

    But it is quite the sobering statistic when considering that in the decade between 2011 and 2021, Bitcoin was the best performing asset class in the world. Exploding from fractions of a penny to near $69,000 last year, it made a lot of people very, very rich. 

    But for anybody who bought in during the pandemic, the story is likely very different. In extending out the above graph back over the course of the decade, the ups and downs are evident.

    Macro environment unprecedented for Bitcoin

    The one thing that is glaring is that for the first time in Bitcoin’s history, it is now experiencing a bear market in the wider economy. 

    Launched in 2009, Bitcoin had, until 2022, enjoyed one of the longest and most explosive bull markets in financial history. Risk assets across the board went sky-high, with the S&P 500 printing a 7X return from its low point amid the Great Financial Crash to its level at the start of 2022. 

    “The scandals and idiosyncratic risk in the cryptocurrency space have been many this year. Nonetheless, despite the torrid happenings in the crypto industry which have undoubtedly made things a lot worse, Bitcoin has plummeted due to the wider macro environment, which has made a mockery of any thought that Bitcoin is not a high-risk asset”, said Max Coupland, director of CoinJournal, when assessing Bitcoin’s 2022 price action.

    On this note, when plotting Bitcoin’s price level against the S&P 500, all looks healthy. Only thing is, I cut the chart off at the start of 2022. 

    The below chart then does the same – plots the S&P 500 against Bitcoin. Only this time, it focuses on 2022, showing that both the stock market and Bitcoin have plunged. 

    “Bitcoin is uncorrelated” narrative killed

    Of course, the narrative that Bitcoin is uncorrelated is completely dead. Not only that, but the misguided thinking that led some to conclude that Bitcoin is an inflation hedge has been proven foolish. 

    There is no other way to put it – Bitcoin has traded like a high risk asset. 

    In fact, it has traded like such a high risk asset that not only was it the best performing asset of the decade between 2011 and 2021, when markets surged up and all these risk assets printed meteoric gains, but now that we are experiencing the flipside, it has performed worse than nearly anything. 

    It has pulled back so severely that those gains which saw it claim that best performing asset title are now not enough to prevent the fact that most of the supply is held by investors in loss making positions. 

    If you use our data, then we would appreciate a link back to https://coinjournal.net. Crediting our work with a link helps us to keep providing you with data analysis research.

    Research  Methodology

    • On-chain data sourced via Glassnode

    • S&P 500 and Bitcoin price data sourced via Yahoo Finance

    • Bitcoin the “best performing asset class of 2011-2021” sourced via Yahoo Finance

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  • RealFlokiInu ads are now live in London

    RealFlokiInu ads are now live in London

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