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  • Should you buy Optimism (OP) as token tests support

    Should you buy Optimism (OP) as token tests support

    Optimism (OP) remains in a bullish market. The token tested a monthly-high resistance of $1.37, although it is not cooling down. Its trading volumes are, however, up 54% at $355 million in the past day. The blockchain has been recording significant trading activities. 

    Data from DefiLlama shows a significant gain in Optimism’s TVL over the last three months, peaking at $1.15 billion in August. The growth could be attributed to developers looking for scalability in Ethereum. 

    Optimism is a layer-2 blockchain on Ethereum aimed at the scalability of decentralised applications. The platform launched its testnet in September 2020. Its native OP token allows end users to access dApps on Ethereum cheaply. OP is also useful in governance by granting holders voting rights in the Optimism Collective.

    The current price dynamics of OP token is not tied to anything specific in the industry. However, the fundamentals around scalability have growth potential. Specifically, Optimism rollups, which wrap up transactions into one, could popularise the layer-2 platform.

    OP retraces to $1 support amid a bullish momentum

    Source: TradingView

    The daily technical chart above shows that OP is retesting the support at or around $1. The token looks to have slightly lost the $1 level, although we need further confirmation. A close of the daily candlestick will confirm if a bearish breakout has occurred. To the upside, the immediate resistance is at $1.4, while $1.9 is the longer-term resistance level.

    MACD looks bullish, while the RSI has remained below the overbought zone, meaning it could go higher. 

    Concluding thoughts

    Based on the fundamental aspects, OP could bring value to its users in the long term. From the technical chart, the token is retesting support with a bullish momentum. Although the token is on a retracement, a bounce off from the support level could occur.

    A confirmation of a bullish price action signal would welcome an upside momentum for Optimism. At the current price, it would be prudent to exercise patience until proper buy signals pop up at the immediate support level.

    Where to buy OP

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  • Is Shiba Inu (SHIB/USD) bull run over? Here is the technical outlook

    Is Shiba Inu (SHIB/USD) bull run over? Here is the technical outlook

    Cryptocurrencies continue to slide in a new week despite enthusiasm settling in previously. Shiba Inu (SHIB/USD) is one such cryptocurrency that posted massive gains. That allowed SHIB to overcome $0.000012 resistance, a key level that has always been watched as a price pivot. Consequently, SHIB went higher to a nearly 3-month high of $0.000015 on October 29.

    At $0.000010, SHIB has suddenly become bearish. That comes after a key technical level at $0.000012 failed to hold. The losses come amid concerns about huge amounts of SHIB being moved from the embattled FTX exchange. Etherscan data showed that whales transferred almost 1.5 trillion SHIB from the FTX exchange. The movement coincided with a nearly 10% price decline in SHIB on the same day.

    SHIB slides below the $0.000012 support as weakness mounts

    Source – TradingView

    A technical outlook shows SHIB trending down after bulls failed to hold firm the $0.000012 level. The price has also lost the 20-day and 50-day moving averages, underlining increasing bear pressure.

    The relative strength index shows a sharp selloff. The token is yet to hit the oversold levels, with the reading below the midpoint. 

    What next for SHIB?

    Shiba Inu is currently under the control of bears. A weak momentum and bearish indicators reinforce a further drop in the price.

    The area around $0.000008 is the next to watch should bulls fail to arrest the current weakness in SHIB. If bulls enter positions, SHIB price could rise to find resistance at $0.000012 again. A potential bullish momentum will be confirmed by a price recovery above the $0.000012 resistance. 

    Buyers should keep off SHIB for now until a proper bull confirmation. However, surprise recoveries on new developments should be monitored as SHIB is already known for that.

    Where to buy SHIB

    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 SHIB 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 SHIB with Bitstamp today

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  • Bitcoin drops below $17,500 as Coinbase/Kraken report issues

    Bitcoin drops below $17,500 as Coinbase/Kraken report issues

    Bitcoin price fell more than 12% to touch lows of $17,114 on crypto exchange Coinbase.

    Bitcoin declined more than 12% on Tuesday as a stunned crypto world descended into sell-off territory on news that Binance, led by Changpeng Zhao, had signed a letter of intent (LOI) for the acquisition of crypto exchange FTX.

    Bitcoin sell-off pushes BTC below June 2022 lows

    After an initial upward spike for the crypto market amid a positive take, Bitcoin nosedived to lows of $17,114 on crypto exchange Coinbase. 

    The downside marks Bitcoin’s fall to its lowest price level since the crypto bloodbath in June, when the aftermath of the crash of Luna and Three Arrows Capital bankruptcy coincided with Bitcoin printing a low of $17,592.

    With the sell-off crashing the FTX (FTT) token as much as 85% within hours on Tuesday – from highs of $22 to lows of $4.60 – other markets followed suit as uncertainty and fear reigned supreme.

    Ethereum had fallen below $1,300 and Solana was getting smoked near $23.80 at the time of writing.

    Coinbase and Kraken report connectivity issues

    Meanwhile, leading crypto exchanges Kraken and Coinbase reported connectivity issues that only fueled the negative sentiment. 

    Kraken announced an investigation into reports that certain users were having connectivity issues on its website as well as via mobile.

    Coinbase also reported connectivity issues affecting its Coinbase.com, Coinbase Pro and Coinbase Prime platforms. An update the US-based crypto exchange posted an hour later noted improvement in network latency, but users were reportedly still having difficulty accessing the exchange’s various platforms.

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  • Solana (SOL/USD) clears above the 50-day MA

    Solana (SOL/USD) clears above the 50-day MA

    Solana (SOL/USD) jumped to a 2-month high of $38.7 over the weekend. The strong recovery happened after Google Cloud announced it had become a Solana validator.  

    Google Cloud further said it would continue working with the Layer-1 blockchain. The partnership will see the introduction of Blockchain Node Engine to the blockchain in 2023. Solana is now expected to become the payment service for Google Cloud services.

    Aside from the recent developments, Solana has witnessed increased growth. In late September, the total transactions on the blockchain rose past the hundred billion mark for the first time. Of course, that comes when Solana enthusiasts continue to express concern over the frequent network outages. The increasing adoption means investors see real use cases for the proclaimed Ethereum killer.

    Elsewhere, a pseudonymous crypto analyst Cantering Clark is too optimistic about SOL recovery. In a note to his 149,500 Twitter followers, Clerk says SOL is forming a multi-month base. He posits that the cryptocurrency is taking out a diagonal resistance and is consistently getting a green light.

    Aside from the positive fundamentals, technical indicators show SOL attempting to break a key level.

    SOL rejected at $37, another attempt for buyers to push higher?

    Source – TradingView

    Technically, SOL was rejected at the $37.6 resistance zone. The token attempted a breakout after a strong rally over the weekend. The jump helped the cryptocurrency to recover above the 50-day MA for the first time since mid-August.

    The MACD indicator shows a bullish momentum for SOL. However, the momentum has slightly weakened after a 10% SOL price drop on Monday.

    Will SOL go higher?

    The $37.6 is the key litmus test for SOL. There is already an indication that buyers are rejecting a price drop below the 50-day MA. Should buyers remain resilient, we vouch for SOL’s break above $37.6. That will open a buy trade and set it for a price increase to $42 and the main resistance at $47.

    Another price rejection at $37.6 could see buyers wait longer for SOL to go higher. If the price breaks below the moving averages, a bear market could continue for SOL.

    Where to buy SOL

    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 SOL 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 SOL with Binance today

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  • The Graph token (GRT/USD) price prediction after a 12% jump

    The Graph token (GRT/USD) price prediction after a 12% jump

    The Graph token (GRT/USD) rose by a dozen percentage points on Thursday. The token was among the few gainers on the day after a market drop following the Fed’s rate hike. CoinMarketCap showed a surge in trading volumes, coinciding with the price surge. The gains elicit the question, how sustainable is GRT? 

    The Graph claims to be an indexing protocol. Users can use the platform to query other networks, including Ethereum and IPFS. The protocol allows anyone to create and publish subgraphs, or open APIs, further broadening data decentralisation.

    Alongside the investor interest on Thursday, The Graph was projected to benefit immensely from the Ethereum Merge. However, since the Merge, GRT price has been a beaten-down cryptocurrency. That’s because of the querying function that The Graph provides to Ethereum. Consequently, The Graph has been recognised as key to Ethereum’s scaling plans. 

    The gains in The Graph underline positive expectations the protocol will play in the post-Merge period. Going by the fundamentals, investors could see the Graph as a favourable investment in the PoS ETH era. 

    GRT meets resistance after the intra-day gains

    Source – TradingView

    Technically, The Graph token has met resistance at $0.092. The token is undergoing a correction at the resistance zone. Although it broke past the resistance, a close of the daily candlestick below could invalidate a bullish view. However, the RSI remains above the midpoint, implying buyers are still active on the token.

    What next for GRT?

    The cryptocurrency has to clear the resistance level to consider a buy attractive. We need to wait for the close of the daily candlestick to assess the next price direction. A bullish breakout will allow buyers to target $0.10 and $0.12 next.

    Where to buy GRT

    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 GRT 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 GRT with Bitstamp today

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  • Roobet Casino review: features, pros and cons

    Roobet Casino review: features, pros and cons

    Choosing a reliable cryptocurrency casino requires due diligence and if you have been perusing the internet for one, you must have come across Roobet Casino, which is a popular name in the casino market.

    This review looks into Roobet features, how it works, game offerings, bonuses, pros and cons, and a genuine opinion on why you should choose it.

    Before getting into the review, it is important to know that Roobet Casino was established in 2018 and is operated by Raw Entertainment B.V.

    How Roobet Casino works

    Roobet is a leading online crypto casino that holds a license from the Government of Curacao. It is currently a cryptocurrency-only casino that only allows deposits in form of cryptocurrencies and not fiat currencies.

    To participate in the various games offered by the casino, you have to register for an account first. The registration process is easy and fast. You are only required to provide a username and a strong password.

    You can then proceed to deposit bitcoins (BTC), Ethereum (ETH), or Litecoin (LTC) to get some funds to participate in the various poker games offered on the Roobet website.

    Depending on your country of origin, you may be required to submit documents that prove you are compliant with know your customer (KYC) and anti-money laundering (AML) rules before placing bets. But in most cases, Roobet requires the submission of KYC and AML documents before initiating withdrawals.

    Key features

    Available games: Slots games (including Roo Bonanza, Tom of Madness, Money Train 2, Mega Fortune, and Cherry Pop), Crash games, Live Casino Games (including cryptocurrency Blackjack, Baccarat, Roulette, games offered by Bitcoin poker sites, and others), Sportsbook, House games, and Drops & wins games.

    Live Betting & Events: If you like playing live poker games, Roobet offers several live events under Roo’s live lounge. Some of the games here include Rooolette and Roo’s BlackJack.

    Accepted cryptocurrencies: Bitcoin (BTC), Litecoin (LTC), and Ethereum (ETH)

    Regulation: Roobet is registered under the Government of Curacao

    Fees: There are no transaction fees.

    Free Funds: unlike most casinos allows players to earn extra points that they can exchange with Roobidos. You earn points as soon as you start depositing funds into your account, test the various apps on the website, and participate in various promotional events or surveys.

    Customer support: You can access Roobet’s customer support team through Email, Social Network, and Chat Support and it supports English, Spanish, Portuguese, French, and Serbian languages.

    Roobet Casino Pros and Cons

    Pros

    Roobet is a registered online casino website making it a reliable site where the safety of your funds is guaranteed.

    Roobet offers free funds that allow you to can earn Roobidos without depositing any funds. All that is required is for you to enter a certain Roobet bonus code.

    The casino offers a wide variety of games. You will hardly lack an entertaining game that you can play on Roobet.

    It provides lucrative promotions and bonuses that include a VIP reward system for loyal casino members.

    There is a very supportive customer support team that ensures that all your need are quickly attended to. Urgent disputes can be settled through live chats.

    Roobet does not charge transaction costs like in other popular online casinos thus making it cheaper to participate in games.

    Roobet is very strict when it comes to players submitting KYC and AML and that exemplifies the legitimacy of the platform.

    Roobet allows you to place bets before submitting your KYC and AML documents depending on the country you are playing from although you will be required to submit the documents before initiating any withdrawal.

    Cons

    It is a cryptocurrency-only online casino meaning you cannot fund your account using fiat currencies which can be quite disadvantageous if you are not into crypto.

    It does not accept bank transfers since cryptocurrencies are transferred from crypto wallets rather than bank accounts.

    While it accepts players from around the globe, it does not accept customers from some countries such as the USA, the UK, Australia, Bonaire, Gibraltar, Cyprus, and Guernsey.

    Roobet does not support the use of VPNs. If you are caught using VPNs from restricted countries, you risk having your funds frozen and your accounts terminated.

    Why you should bet using Roobet crypto Casino

    As long as you are not from one of the restricted countries, you can find a very wide selection of online crypto casino games to play on Roobet especially if you hold BTC, ETH, or LTC cryptocurrencies.

    In addition, you will not be required to pay any transaction fees to participate in any of the games making it cheaper for you to participate compared to using other online casinos. You will also be entitled to a number of rewards including extra points to exchange for Roobidos.

    Besides the fact that you cannot fund your account using fiat currencies, Roobet can be a good choice if you are looking for one of the best online casinos that are registered and regulated.

    Final Verdict

    While selecting a good crypto casino can be quite challenging, this Roobet Casino review will assist you with some of the features and games that you expect to come across if you decide to choose Roobet.  It also provides you with a clear outlook on the pros and cons of using the casino.

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  • Why you need caution trading Bitcoin (BTC/USD) this week

    Why you need caution trading Bitcoin (BTC/USD) this week

    Bitcoin (BTC/USD) trades at $20,390, a clear price decline since topping $21,000 late last month. There is no doubt that BTC remains resilient against a less reassuring macro outlook. The cryptocurrency has strongly defended the $19,500, which has become a crucial psychological level. Consequently, BTC’s technical outlook remains bullish as long as this level is maintained. But investors may need to exercise caution this week.

    The Federal Reserve interest rate decision remains the focal point this week. We already know that inflation has been running higher than estimated. With that in mind, investors have earmarked a 75-basis points rate hike when the Fed issues a statement. The expectation has raised caution in all markets, which has been responsible for the BTC slowdown. A rate hike followed by a hawkish Fed statement could spook markets and force a further price fall.

    On the contrary, expectations grew mixed the last one week that Fed may settle for a soft stance. With growing recession fears, analysts projected that the Fed would move slower. For this reason, BTC saw some recoveries to above $21,000.

    As the Fed nears its policy decision, mixed expectations may not be good for Bitcoin. That is captured in the price reaction, which has stalled despite remaining stable.

    Bitcoin stalls ahead of FOMC decision

    Source – TradingView

    On the daily chart, Bitcoin met a minor resistance at $21,000. Momentum is weakening, but the MACD indicator remains in the bullish zone.

    The 20-day MA crossed above the 50-day MA, suggesting that BTC was heading higher. Both moving averages support the cryptocurrency below.

    Should you buy BTC?

    The technical indicators and the $19,500 support give a bullish view of the BTC price. However, the sentiment around cryptocurrencies, in general, is mixed. Investors are turning to the Fed statement to assess a bull scenario.

    A dovish Fed could be the trigger for BTC to move higher. Similarly, the cryptocurrency could head back to $19,500 on a hawkish Fed. Investors should be patient for now and gauge the BTC price based on the Fed decision.

    Where to buy BTC

    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 BTC 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 BTC with Bitstamp today

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  • HC Wainwright says Bitcoin is ‘alive and well’

    HC Wainwright says Bitcoin is ‘alive and well’

    • HC Wainwright’s assessment of bitcoin’s future potentiality comes in the wake of Bitcoin 2022 held in Amsterdam from October 12-14.

    Bitcoin price may be stuck around $20,000 and miners in increasing pain as fear, uncertainty and doubt spike, but according to corporate investor HC Wainwright is Bitcoin is “alive and well.” 

    The rating company’s latest view of Bitcoin mining and the crypto space is that a bullish flip is inevitable, especially in an environment of positive money supply. In short, reports of the flagship cryptocurrency being dead, even amid the troubles around public mining firms, are ‘greatly exaggerated.’

    Rising hashrate reflects confidence in crypto’s future

    In an industry update published 2 November, HC Wainwright’s Kevin Dede says rumblings over the future of Bitcoin have gone a notch higher since Ethereum’s merge.

    These have also been accelerated by the increase in network hash rates to all-time highs above 280 EH/s over the past few weeks as price stagnated around $20,000 has not helped but fuel fear of miner capitulation and further pain in the market.

    And amid all these are questions around bitcoin’s inflation-hedge worthiness, regulation and other many other exogenous factors.

    HC Wainwright’s assessment is that the rising network hashrate is “a direct reflection of the confidence in crypto’s future powered by investments miners made mostly last year.”

    As such, the investment banking provider expects the bitcoin mining industry will continue to feel the effects of the crypto winter. The pain could persist to the next halving and failing to plan operations with this scenario in mind would be sloppy.

    So what next for BTC price and the bitcoin mining ecosystem? HC Wainwright offered what it believes constitutes a bullish outlook for the world’s largest cryptocurrency by market cap. One factor to watch is the Fed’s monetary policy.

    “Our more bullish sentiment lies on the side of a moderation in the Fed’s tightening monetary policy. A normalized money supply may bring investors back to risk-on assets, a bucket into which the current bear market seems to have dumped crypto,” Dede wrote.

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  • Coinmate review

    Coinmate review

    Looking for a good cryptocurrency exchange where you can invest in cryptocurrencies, especially in Europe, can be quite a challenge. There are many scams now claiming to offer crypto exchange platforms while in actual sense they are after stealing your hard-earned money.

    We have done a comprehensive review of the Coinmate exchange to find out if it is legit or not. To find out more about Coinmate’s pros and cons and how it works, please continue reading.

    How Coinmate works

    Coinmate is a cryptocurrency exchange that was founded in 2014. It is registered in London and focuses its operations in Europe, especially Eastern Europe.

    To start out, you have to first open an account with Coinmate. You can choose to use BankID which is the fastest and safest way to sign up or choose to manually input your personal details.

    Once you have an account, you can choose between “Trade” and “Quick Buy” or “Quick Sell” options.

    The “Trade’ option allows you to trade various cryptocurrencies. You can access an order book, and charting containing crypto prices, the history of their transactions and an area where you can create new orders.

    On the other hand, the “Quick Buy” option allows you to make easy and quick purchases of various cryptocurrencies at their market price while the “Quick Sell” option allows you to make easily and quickly sell cryptocurrencies.

    Coinmate currently supports about eight cryptocurrencies. It supports Bitcoin, USDT, Ethereum, Cardano, Solana, Litecoin, Ripple, and Dash. It also allows the use of three main currencies to purchase cryptocurrencies which are EUR, CZK, and BTC.

    Key features

    Types of accounts: Coinmate offers three types of accounts: basic account, verified account, and VIP account.

    Trading Fees: Coinmate uses the Maker/Taker model. The maker’s fee is 0.05% while the taker’s fee is 0.35%.

    Withdrawal fees: The deposit and withdrawal fees depend on the payment method you choose to use. Depositing using vouchers or domestic Czech and Poland currencies is however free.

    Deposits and Withdrawals: the available methods to fund your account depending on your account verification level. The first level, which is for the basic account allows the use of OkCoin, MoneyPolo, and Vouchers. For verified and VIP accounts, you can use OkCoin, MoneyPolo, Vouchers, SEPA, Sofort and standard wires.

    Withdrawal limit: For the basic account, the daily withdrawal limit is €1,000. For the verified account, the limit is €5,000 while for the VIP account the limit is €12,500. You can however adjust the limit for the VIP account higher by requesting.

    Customer support: Coinmate only offers one customer support method which is through email.

    Security: Coinmate is quite secure since it has a three-tiered verification for all types of accounts. Depending on your verification level, Coinmate will require users to do a video call showing the authorities clicking the pictures of the necessary documents by themselves.

    Coinmate Pros and Cons

    Pros

    It allows users to directly purchase cryptocurrencies using the EUR and CZK fiat currencies which is a great plus especially if you are from Eastern Europe.

    Its trading fees are relatively low compared to some of the popular cryptocurrency exchanges.

    Although it has focused more on Europe, Coinmate also allows people from other parts of the world to sign up and use its services.

    It supports a wide selection of payment methods.

    Coinmate’s user interface is simple to use making it a good choice even for beginners.

    Cons

    While Coinmate offers a great crypto trading experience, it offers a very limited list of cryptocurrencies.

    The exchange does not have a dedicated mobile platform that can allow you to easily buy, sell, and trade cryptocurrencies while on the go. Its website is mobile-friendly and seamlessly fits the smaller screen of smartphones and tablets.

    While Coinmate generally allows clients from any part of the world to register with them, the exchange does not accept customers from the US.

    The only form of customer support on Coinmate is email, which takes about a day to get a reply. This can be quite demoralizing especially if you have an urgent issue.

    Coinmate does not offer a wide selection of crypto investment options. It only allows for purchasing, selling and trading. It does not have services like staking or liquidity mining.

    Why you should use Coinmate to trade crypto

    If you are in Europe and want a simple crypto exchange that you can use to start investing in cryptocurrencies, then Coinmate could be a great choice. Besides, its user-friendly user interface, the exchange also offers a lot of useful information about cryptocurrencies through its blog.

    You can also be able to purchase cryptocurrencies using the EUR or the CZK.

    Final Verdict

    Selecting a good crypto exchange can be quite challenging, especially in a market as volatile as the crypto market.

    We however hope the above Coinmate review gives you some insight to help determine if Coinmate is a good fit for you.

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