Traders invest in LINK, BAND and Qtum as bitcoin prices fall

Traders invest in LINK, BAND and Qtum as bitcoin prices fall

The recent bitcoin downturn temporarily reduced its dominance to 49.5%, the lowest level since August 2018. This has led more traders to predict that altcoins could overtake bitcoins in the short term.

In the last few months, Bitcoin price performance does not seem to have had much of an impact on Altcoins.

The main factor that can lead to the further growth of altcoins compared to bitcoins is the widespread increase in the popularity of diffuse decentralized financial space. "DeFi exchanges show more trading volume than Coinbase," said Thomas Farley, vice president of the New York Stock Exchange, in an interview with CNBC.

Let's look at the principles and technical specifications of the three tokens that have been increasing over the past few months.

LINK / USDT

ChainLink (LINK) is one of Oracle's most popular decentralized solutions, and to support the pace of innovation in the crypto industry, it outlined its vision for the future in its new white paper, Chainlink 2.0, on April 15, where There are second tier networks that store Oracle Networks and calculate data outside the chain before blocking input to the blockchain. This new concept could enable developers to quickly build intelligent hybrid contracts, similar to the application programming interfaces (APIs) that developers build on the web.

Another positive point for LINK investors was announced when Gary Skill announced on April 6 that he would add it to his large digital investment fund. Although this allocation is only 0.87%, considering this issue can make it the focus of fundamental investors.

LINK is correcting its sharp uptrend from $ 23.61 on March 24 to a high of $ 44.33 on April 15. Although prices fell below the moving average on April 18, cows are buying aggressively at lower levels, as evidenced by the long-tailed candlestick daily.

Since then, bears and cows have struggled with the 20-day moving average ($ 35.89). The cows are trying to defend the support of the 20-day moving average EMA and start the next ascending phase while the bears are trying to increase the correction by breaking the support.

The 20-day moving average and the relative strength index (RSI) above 57 indicate a slight advantage for buyers. If the cows are able to raise and maintain their price above $ 40, the LINK / USDT pair can retry $ 44.33. Failure of this resistance can start the next stage of the uptrend, which can reach $ 50 and then $ 55.72.

 If the price stays below the 20-day moving average, this uptrend will be invalidated. Such a move could lower the price to a simple 50-day moving average ($ 31.42) and delay the start of the next uptrend.

BAND / USDT

The BAND peaked at $ 23.30 on April 15, rising 109% in about two and a half months.

The protocol announced its partnership with Google Cloud on April 15 and continues to build partnerships to increase its market share. Last month, the company partnered with Krystal, Equilibrium and Polygon. In addition, one of the largest financial institutions in Thailand (SCB 10X) cooperated with Band as a ninety-one credit rating.

BAND is currently trading in the $ 11.50 to $ 20.62 range. The cows had raised the price above the resistance on April 15 and 16, but as a result of the defeat could not increase.

QTUM / USDT

The QTUM peaked at $ 20.72 on April 19, growing 173 percent in more than two months.

On March 31, Qtum co-founder Patrick Dai said the protocol was working to enable smart contracts for FileQueen over the Qtum network. On the same day, Dai joked that dissimilar tokens were also being launched on Qtum.

The Dodge QTUM on April 19 showed that the uptrend may lose steam. The short-term weakness was further confirmed by the continuing downward trend on April 20.

The cows are currently trying to defend the 20-day moving average ($ 15.08). A sharp jump from this support indicates that the emotions remain positive and the cows are shrinking.

Buyers are likely to try to lower the price to $ 18.63 and then to $ 20.72. The failure of this resistance will be a sign of the resumption of the uptrend.

However, a negative divergence in the RSI indicates that the movement may be weakening. If the bear falls below the 20-day moving average, the QTUM / USDT pair could fall below the 50-day SMA ($ 10.47) moving average, where buyers are taking steps to halt their price decline. .

Grayscale Investment Company bought $ 1 billion worth of Altcoin in 24 hours

Grayscale Investment Company bought $ 1 billion worth of Altcoin in 24 hours

Skill Investment Fund bought a significant amount of Altcoin worth $ 0.9 billion in 24 hours.

The company has added $ 45.8 billion in bitcoins and altcoins to its portfolio since April 21.

Bybt Analysis Service data show that GaryScale has bought more Altcoins to add to its assets

As of April 22, the company has purchased 519 Horizon Digital Currencies (ZEN), 967 Live Pier (LPT) and 29,990 China LINK.

Also, over the past seven days, Grayscale has bought 71,035 Stellar (XLM) and 2,965 Horizon (ZEN) along with 5 recently built Altcoins:

MANA: +278,206

LPT: +20,145

FIL: +3,525

LINK: +42,506

BAT: + 259,424

Economic calendar Friday, April 23

Economic calendar  Friday, April 23

Economic calendar Thursday, April 22

Economic calendar  Thursday, April 22

Club House launches new content for NFT sales

Club House launches new content for NFT sales

A new press release from Club House Media Group states that the company intends to create a new content house, leading artists, finance and digital currency specialists and influential people in the field, digital currency investors and NFT lovers. Gathered in a market.

With its new content house called BlockhouseCH, the company plans to collect and tokenize newly created pieces of art by members and market them on platforms such as rally.io.

Invited creators create new content, digital art, and market influential people to sell.

Clubhouse Media President Chris Young said BlockhouseCH would be the first cryptocurrency-focused content house to combine all of cryptography and NFT. BlockhouseCH specializes in offering these new products to investors and other interested parties.

Gold analysis Wednesday, April 21

Gold analysis Wednesday, April 21

On the global gold ion weekly chart, XAUUSD is still below the resistance line and the long-term moving average at $ 1785. If the weekly ounce chart of the world gold is closed below this resistance, one can expect the price of the ounce gold to fall to the support of $ 1687. In the daily chart of the global gold ounce, we see a situation similar to the situation of the daily chart. If the global gold ounce crosses the $ 1785 resistance level, the next target of the resistance market will be $ 1855. In the four-hour chart of global gold ounces, the short-term market trend is declining and the price of global gold ounces may fall to $ 1760. But the break of the $ 1785 resistance will pave the way for the market to rise to the next resistance at $ 1805.

Trading strategy

The $ 1785 resistance will determine the next direction of the market. The failure of this resistance will change the market trend upwards. But if it can maintain its position, the market will fall to lower support.

Increasing the organizational capital entering the Ripple market

Increasing the organizational capital entering the Ripple market

Over the past week, we've seen corporate investors turn their attention to Ripple (XRP), with assets under management (AUM) or their XRP investment products almost doubling.

According to the CoinShares Digital Asset Fund's weekly capital inflows, approximately $ 33 million in capital has flowed into XRP products this week, raising its managed assets (AUM) to $ 83 million.

The report cites the $ 233 million injection of corporate funds, citing this week as the uppermost period since early March (mid-March) for enterprise cryptographic products.

Bitcoin products, valued at about $ 50 billion, account for nearly 78% of the total assets under corporate management. Ether followed with $ 10.7 billion, or 16.8%, of cryptocurrencies.

In addition to the huge inflow of capital, corporate trading volume has also increased, reaching 59.8 billion dollars, up 59% since the beginning of the week.

With $ 50 billion in assets, Grayscale owns 77% of the cryptocurrencies under the management of organizations; CoinShares then accounted for about 9% of the total assets of the sector with $ 5.7 billion and 3iQ with $ 1.9 billion accounted for about 3%.

Demand for cryptographic corporate products appears to be growing in North America, with Canadian regulators launching three tradable Atrium funds last week.

An overview of the cryptocurrency market today Tuesday, April 20

An overview of the cryptocurrency market today Tuesday, April 20

Bitcoin falls to 54 thousand dollars

As previously reported, the market's first cryptocurrency has recently experienced a sharp drop in price. The asset lost about $ 9,000 in value in a matter of hours, reaching its lowest level in three weeks at $ 51,500.

Within 24 hours, the currency was able to offset more than $ 6,000 in losses. This led to yesterday's highest figure above $ 57,500. However, the situation was reversed once again and the BTC plummeted.

The cryptocurrency has since lost more than $ 3,500 in value and is currently trading below $ 54,000. In addition, its market value has once again fallen below $ 1 trillion. This means that BTC has lost its key support level at 50 DMA. Lark Davis, an analyst and commentator on cryptocurrencies, estimates that the average is about 12 days.

Increasing market fluctuations have also caused more losses for traders. Bybt data show that more than $ 1.3 billion has been liquidated in the last 24 hours.

Technical indicators show that if bitcoin continues to fall freely, $ 51440 and $ 50,000 support lines will help the currency. If this trend is reversed, the asset should overcome resistance levels of $ 55,400, $ 56,280 and $ 58,355.

Dodge Quinn jumps in the bloody market today

Most replacement coins have followed in the footsteps of their leader in recent days, but their situation today is somewhat worse than BTC.

Atrium fell more than 7 percent on a 24-hour scale, falling below $ 2,100. Binance Quinn (6-%) has also fallen below $ 500. Ripple (-16%), Cardano (-10%), Polkadot (-13%), Litecoin (-10%), Bitcoin Cash (-13%), Uniswap (-8%) and Chainlink (-12%) today They are red.

Dodge Quinn has been able to continue its impressive performance today amid a massive drop in prices among the market altcoins, growing by 20% in 24-hour timeframes and by 455% in a one-week period, now reaching $ 0.40. As a result of these developments, DOGE has become the fifth largest cryptocurrency in terms of market value.

The situation among lower market value altcoins has fluctuated sharply today. For example, Helium has experienced a 22% drop in 24-hour timeframe. Nano (-20%), Kusama (-20%), Harmony (-17%), 0x (-17%), IOST (-17%), IOTA (-17%), OMG Network (-16%), Bitcoin Gold (-16%), Tezos (-15%) and Algorand (-15%) have also lost significant value.

Finally, the value of the cryptocurrency market has fallen below $ 2 trillion in one day by more than $ 150 billion.

Neweg has added Dodgecoin to its payment options

Neweg has added Dodgecoin to its payment options

At the DogeDay celebration, Newegg, a leading technology retailer in North America, announced that the company is now officially accepting Dodgecoin as a payment method.

Andrew Choi, chief executive of the Newegg brand, said:

"The excitement and momentum created around this cryptocurrency is undeniable. The recent dramatic jump in the Dodgecoin price also underscores the need for ease of use for this currency when customers shop."

Neweg has been a proponent of cryptocurrencies in the past. In 2014, the company began accepting bitcoins for purchase. Prior to the official announcement, the company tweeted the following promotional teaser on social media:

Prior to Neweg, Mark Cuban had announced that the NBA team, with the participation of BitPay, would allow people to use Dodgecoin (DOGE) to purchase tickets and merchandise.

In an interview with DealBook, Kuban revealed that he has decided to accept payment with DOGE ciphers. He has said before that sometimes you have to do fun things in your business.

Economic calendar Tuesday, April 20

Economic calendar  Tuesday, April 20