CEO of Bainance Exchange: Shiba Token is associated with extremely high risk

CEO of Bainance Exchange: Shiba Token is associated with extremely high risk

Yesterday, Bainance Exchange announced that it has made it possible to trade Shiba Inu tokens due to high demand.
But the exchange's managing director warned of fluctuations in the token.
Bainance, the world's largest digital currency exchange, listed the SHIB token in its exchange yesterday, saying it was a Dodge Coin-like meme coin that had exploded in value over the past week.

Bainance CEO Changpeng Zhao tweeted that the demand for the new currency was so high that our Atrium addresses ran out, and this was unprecedented for ERC20 tokens.

However, Zhao made it clear that adding a token to the exchange's list should not be construed as confirming Quinn's potential value, he wrote on Twitter: "This token is extremely risky."

SpaceX sends DOGE-1 to the moon in 2022 Monday, May 10

SpaceX sends DOGE-1 to the moon in 2022   Monday, May 10

SpaceX is scheduled to launch DOGE-1 to the moon in 2022.

According to a press release, Geometric Energy Corporation (GEC) made history by launching Dogecoin into Ilan Mask's SpaceX project to launch its moon cargo.

As part of the mission, GEC CubeSat, a 40kg satellite for space exploration, will share a business with the Falcon 9 SpaceX rocket.

Tom Ochinero, SpaceX's vice president of commercial sales, says the deal will lay the groundwork for interplanetary commerce:

"This mission demonstrates the use of cryptocurrency beyond Earth orbit and will establish interplanetary commerce."

On April 1, Musk tweeted about Dogecoin on the moon, but many thought it was an April Fool's joke. But as it turned out, this billionaire was not joking.

Ethereum transaction fees skyrocket as the price of the Shiba Inu token rises

Ethereum transaction fees skyrocket as the price of the Shiba Inu token rises

The price of the Shiba Inu (SHIB) token, which was created to compete with the Dogecoin, has risen 32,500 percent over the past 30 days, causing the Ethereum blockchain network to become crowded and commissions to rise.

According to Etherscan, the average Ethereum transaction fee at the time of writing is $ 9, and the average cost of transferring ERC-20 tokens is $ 28. Meanwhile, the token exchange fee at Uniswap Decentralized Exchange rose to around $ 260 in an instant yesterday.

"One of the main factors in the congestion of the Ethereum network could be the large volume of SHIB trade," said Larry Cermak, a digital currency analyst.

In fact, SHIB has become the center of attention of traders due to its price.
According to CoinMarketCap, the price of this token has increased by more than 500% during the last day and reached the highest figure of $ 0.0000195.
It is noteworthy that this token was traded more than a month ago at a price of $ 0.00000006.

It is not entirely clear what can accelerate the sudden and explosive growth of SHIB. Some users have referred to a recent tweet from Ilan Musk, CEO of Tesla and SpaceX, that his remarks have led to Dogecoin rising in price on several occasions in the past.

Mask responds to a tweet about real live dogs on May 7: "I'm looking for a SHIBA puppy!"

Kitco site weekly evaluation of the gold market Monday, May 10

Kitco site weekly evaluation of the gold market Monday, May 10

According to Kitco News's weekly assessment, optimism about the future of the global ounce price has strengthened. Professionals and small market investors expect prices to rise further.
Last Thursday, the price of an ounce of global gold jumped sharply. For the first time since February, the world ounce price of gold has exceeded $ 1,800. Many analysts believe that the failure of this resistance is a good sign of reviving the uptrend of the market and moving to $ 1850. On Friday, the price of an ounce of global gold continued to rise. The April US Employment Data Index (NFP) was disappointing. In April, NFP growth was only 266,000 units, while the market expected growth of one million units. Some analysts believe the market may be struggling to break the $ 1830 and $ 1850 resistance levels.

This week, 16 Wall Street activists took part in the weekly evaluation of the Kitco site. 88% predict that this week's trend is an upward ounce of global gold. Another 12 percent expect a downward correction in the market. According to this week's assessment, no one expects a neutral or trend-free market. Meanwhile, 1,485 Main Street investors took part in the online survey. 76% were in favor of an uptrend, 14% were in favor of a downtrend and 11% were in favor of a trend-free or neutral market.

Opinions of market professionals

Bill Baruch, President of Blue Line Futures

The professional activist believes that although the ounce trend of global gold is bullish, in order for the strength of the bullish trend to strengthen and new buyers to enter the market, XAUUSD must cross the resistance of $ 1850.

Ole Hansen leads Saxo Bank strategy team

Hansen said that due to weak economic data on US employment, the possibility of the Federal Reserve gradually withdrawing from expansionary monetary policy by the end of 2021 is ruled out. According to this professional activist, the price of gold can rise further at the same time as the yield on bonds falls and drive gold sellers out of the market. According to Hansen, significant market growth cannot be expected until the $ 1850 resistance is broken. The $ 1,850 resistance is a good match for the 200-day moving average. "Despite the strong rise in the price of an ounce of global gold, the market is still declining. "However, the failure of the key resistance can reverse the trend."

Adrian Day, President of Adrian Day Investment Company

According to this professional activist, the market will not climb in a straight line. The gold market is backed by the US government's monetary and expansion support programs.

Darin Newsom Independent Market Analyst

According to Newsom, if the global ounce price rises above $ 1842.90, the next target of the resistance market will be $ 1894.

Mark Chandler is the CEO of Bannockburn Global Forex

Chandler is the only one expecting the market to return below the $ 1,850 resistance level. According to this professional activist, due to the rapid economic growth of the United States, the bullish gold rally will stop near $ 1855-1850.

An overview of the cryptocurrency market today, May 9

An overview of the cryptocurrency market today, May 9

Bitcoin is approaching $ 60,000

As reported two days ago, the bears were in complete control of the market's first cryptocurrency, lowering the price to around $ 55,000. However, Bitcoin managed to reverse its trend and gradually increase its value.

BTC reached above $ 58,000 yesterday and continued to move after a slight correction. In the last 24 hours, Bitcoin has reached the level of $ 59,600. This is the highest price of this leading cryptocurrency since the market collapsed in mid-April.

However, BTC failed to continue its uptrend until it crossed the significant $ 60,000 resistance, thus falling below the $ 59,000 level. It has since risen 2% to its current level of $ 58027.

The benchmark for comparing the BTC market value with all altcoins also rose to 45% after 44% yesterday.

Set new records in Ether and Cardano

The Altcoin market has fluctuated sharply in recent weeks. Atrium, on top of all of them, has experienced intense price pumps. The market's second cryptocurrency broke the $ 3,000 level less than a week ago, and has now reached its all-time high of $ 3,980, setting a record.

Cardano, after setting his last record earlier this week, managed to touch the level of $ 1.73 and draw his highest price level in history. Binance Quinn has also increased to $ 650 in 24-hour timeframes.

Dogecoin, on the other hand, fell 25% to $ 0.55 after the long-awaited Elon Musk show aired.

The most important market winner today is Shiba coin. Inspired by Dodge Quinn, the token was able to enter the top 100 currencies in the market after 850% growth in one week. The currency has risen 160 percent in the last 24 hours alone.

Telcoin (32%), Polygon (28%), Bitcoin Diamond (16%), Venus (13%) and Qtum (10%) are next.

The total market value of cryptocurrencies rose to a record $ 2.460 trillion after rising $ 60 billion in one day.

The growth of the number of bitcoin wallets of institutions has started again with 100 to 1000 coins

The growth of the number of bitcoin wallets of institutions has started again with 100 to 1,000 coins

The chart provided by Golsnood shows that bitcoins stored in wallets are increasing by 100 to 1,000 coins.

Institutions are buying more bitcoins

The Golsoon chart, shared by the chief investment officer of Moskov Capital, shows that the number of Bitcoin wallets holding 100 to 1,000 BTC has risen again after falling slightly in April.

Lex Moskowski explains that wallets in the 100-1000 bitcoin range show that financial institutions use a specific protocol to store funds on platforms such as CoinBase, BitGo, and so on.

Lex also explained that CoinBase keeps funds in its wallets and divides them into categories of 100 to 120 bitcoins. He believes that this resumption of growth is good news for Bitcoin.

Earlier, U.Today reported that an unprecedented amount of Bitcoin - 12,234 BTC - had been withdrawn from the CoinBase exchange, which was probably done by institutions.

Bitcoin active addresses have reached a 3-month high

According to a recent tweet from Golsnood, the number of active Bitcoin addresses (seven-day average) has risen to a three-month high of 65,659.

The highest similar rate was detected on February 9, at 65,525 addresses.

Dogecoin's intense sales pressure disrupted Robinhood

Dogecoin's intense sales pressure disrupted Robinhood

Dogecoin has been waiting for weeks for Ilan Musk to host Saturday Night Live, hosted by Ilan Musk, as he was expected to use the opportunity to promote his favorite currency.

Although he (and his mother) mentioned Dogecoin several times during the show, the price did not rise as expected. Conversely, the price of the fourth largest cryptocurrency in the market, which was about $ 0.66 before the start of the program, fell to $ 0.51. The sales pressure caused by this drop was simultaneously accompanied by problems in the Robinhood mobile application.

Robinhood users raided two popular social networks, Reddit and Twitter, to report major bugs in the Dogecoin deal.

This is not the first time this has happened. By mid-April, Robinhood had experienced several disruptions to its service. Simultaneously with the broadcast of the program, Robinhood had announced that he would soon solve the problem caused by the fluctuations and the high volume of transactions.

Grayscale bought more altcoins Saturday, May 8

Grayscale bought more altcoins Saturday, May 8

According to recent information, Grayscale Investments, a subsidiary of Barry Silbert’s Digital Currency Group DCG for short, has added more coins than MANA, LPT, LINK and FIL.

Grayscale buys more altcoins for the trust!

Large cryptocurrency fund Grayscale has purchased more altcoins to add to its trust. These altcoins include MANA, LPT, FIL and LINK.

According to data from the Bybt analysis platform, these purchases have been made in the last twenty-four hours.

The highest amount of cryptocurrencies purchased with 16,710 tokens belongs to MANA.

The chart on the website shows that Grayscale has bought more of these cryptocurrencies over the past week and 30 days.

According to Bybt, the total amount of cryptographic assets under the management of Skill is now worth $ 51.41 billion.

Earlier this week, the LINK currency crossed the $ 50 level with a new price record.

 

Digital Currency Group continues to buy GBTC!

As previously reported by U.Today, Grayscale's parent company, DCG, which is run by Barry Silbert (Digital Currency Group), is still pursuing its plan to repurchase Grayscale's GBTC stock.

According to a recent report, DCG bought 1,695,217 shares in March as part of its $ 250 million repurchase plan.

However, Bitcoin Trust’s GBTC continues to trade at a discount of -12.62% at the time of writing.

Weak NFP growth caused the US dollar to fall Saturday, May 8

Weak NFP growth caused the US dollar to fall Saturday, May 8

In April, the US employment growth rate (NFP) was only 266 thousand units! Meanwhile, the market expected growth of 978 thousand units. March data also had a negative adjustment. In other words, the growth of the NFP in March has changed from 916 thousand units to 770 thousand units. The dollar fell in response to the NFP's disappointing growth. Meanwhile, the US unemployment rate has risen to 6.1 percent. The market forecast for the unemployment rate was 5.8 percent.

Technical analysis of the global gold ounce Saturday, May 8

Analysis of the global gold ounce Saturday, May 8

The price of an ounce of global gold is in a good position after hitting a long-term support level and, according to the analysis of the Credit Suisse Institute, will increase to the level of $ 1,853 within the 200-day moving average indicator.

Gold fell above the important $ 1.755 to $ 1.765 level after falling to the support level of $ 1.682 to $ 1.671, near the level of 38.2 ونا Fibonacci Correction of its five-year long-term uptrend.

Currently, the key resistance levels are $ 1.835, $ ​​1.853 and $ 1.871, respectively.
On the other hand, if the price falls below the support level of $ 1,724 to $ 1,721, the possibility of an uptrend is eliminated.