Bainance CEO reacts to the decline of the cryptocurrency market on Twitter

Bainance CEO reacts to the decline of the cryptocurrency market on Twitter

 

    Changpeng Zhao tweeted about the latest cryptocurrency market downturn.
    100 Ramzars experienced a 10 to 20% market downtrend.
    The top 3 currencies, Bitcoin, Atrium and Bainance, continue to hold this position.

 

Bainance CEO Zhao tweeted about the decline in the cryptocurrency market. Zhao also added that his remarks in this tweet were not financial advice. Traders and investors must take the necessary precautions to avoid unexpected irreparable losses.

In the last few hours, the cryptocurrency market has shocked investors once again. Not because of the uptrend but because of its sudden decline. In particular, CoinGecko's top 100 cryptocurrencies fell 10 to 20 percent in the past hour. In fact, it could cause fear, uncertainty (FUD) among cryptocurrency investors worldwide.

Based on market conditions, the world of cryptocurrencies has approximately $ 2 trillion in market capitalization. It is noteworthy that the space of cryptocurrencies has stood strong and does not come down easily with the sudden fall of the market. That way, traders and investors should not lose confidence when the market plummets. This has become commonplace in cryptocurrencies.

Today, Bitcoin, the king of cryptocurrencies, tops the list with more than $ 56,000. In addition, Atrium traded at more than $ 2,200 and the Binance cryptocurrency traded at $ 473 per cryptocurrency. Despite the decline in the cryptocurrency market, these top three groups remain strong. Indeed, this is a prominent performance in the space of cryptocurrencies.

An overview of the cryptocurrency market Saturday, April 17

An overview of the cryptocurrency market Saturday, April 17

Bitcoin recovers the $ 62,000 balance

After the last record set earlier this week at $ 65,000, the market's top cryptocurrency reversed its trajectory and gradually declined.

As we reported, Turkey will ban the use of digital assets as a means of payment. Following the news, the market price of the first cryptocurrency fell more than $ 4,000.

This led to a daily price drop of more than $ 60,000 (on Bitstamp). However, the cows regained control and did not allow the price to fall below this level. On the contrary, BTC has jumped around $ 2,000 since then and is now above $ 62,000.

Technical indicators suggest that the first barriers to bitcoin resistance are at $ 62,500, $ 63,766 and the $ 65,000 record. Conversely, if the price falls, the asset could rely on support levels of $ 61780 and $ 60,000.

 

Bitcoin Cash returns to the top 10 currencies

Most replacement coins in the market mimicked yesterday's BTC performance with a significant decline. However, today they are mostly in the green space. Atrium fell more than $ 150 yesterday, but jumped 3% to its $ 2,500 record.

 

Bainance Quinn, which closed its 15th quarter token burning yesterday, fell below $ 530. However, BNB has grown by more than 5% and is now trading at around $ 540. Ripple (1%), Cardano (2%), Polkadot (2%) and Uniswap (1.5%) are also green. LightCoin and ChinaLink rose 13 percent and 6 percent to $ 323 and $ 43, respectively.

 

Dogecoin continued its impressive performance and is now trading above $ 0.3. Yesterday, this popular Meem Quinn reached more than $ 0.4 and its highest historical record.

Bitcoin Cache also showed the best performance among high-value cryptocurrencies with a dramatic 25% increase in 24-hour timeframes. As a result of these developments, BCH re-entered the top 10 currencies in the market with a price tag of $ 1,150.

 

Siacoin (76%), Nano (70%), Ethereum Classic (50%), Verge (45%), Vechain (41%), DigiByte (35%), Neo (20%), Ankr (20%) and Zilliqa (20%) have also been bullish today.

Finally, the cumulative market value of total cryptographic assets has increased by $ 100 billion since yesterday.

Dogecoin whales traded $ 12 billion in one day

Dogecoin whales traded $ 12 billion in one day

The dramatic rise in the price of Dogecoin (DOGE), which ranks third in terms of market value, coincides with the resurgence of Dogecoin whales due to rising blockchain standards in the past 24 hours.

More than $ 12 billion in Dogecoin was transferred to the blockchain yesterday, according to BitInfoCharts. On that day, only $ 6 billion in ether (ETH) was processed in the Ethereum network.

Prior to the recent jump in Dogecoin due to Reddit pumps and Ilan Mask tweets, the currency had only reached $ 0.01 once in its eight-year history. The sudden increase of 400% of this currency and reaching a price higher than $ 0.30 during the last week, has attracted a lot of attention and has been followed by a review of Dogecoin subreddits.

According to Skew.com analysts, last week the number of new subscribers of this sub-reddit increased in line with the increase in the price of this Altcoin, from hundreds to thousands in one day.

Polygon and Aave partner to launch $ 40 million cash extraction

Polygon and Aave partner to launch $ 40 million cash extraction

Polygon has partnered with Aave to launch a liquidity extraction program for the scalability and growth of the Defy world in Atrium. The program will use 1% of MATIC network resources worth about $ 40 million.

It should be noted that Aave is an emerging Defy platform valued at more than $ 6 billion. Polygon, on the other hand, is a leader in providing Difai solutions that has worked with many of Difai's leading projects. For example, Polygon has worked on projects such as Polymarket, Sushiswap and InstaDapp.

In fact, Polygon intends to help address some of the weaknesses that currently limit the efficiency of transactions in the Atrium network. In particular, Atrium is grappling with scalability constraints that have led to high density and high cost of smart contract management platforms.

Astani Kolchov, founder and CEO of Aave, commented on the partnership:

"If the defense is great, but limited to five-digit and higher securities, it will neglect its mission of financing everyone. "Polygon makes this possible and makes Defy available to a wider audience around the world."

However, the challenges facing the Atrium network act as a reflection of the platform's popularity. To date, Atrium supports at least 200 decentralized applications, 15 million transactions and more than 300,000 wallet addresses.

Therefore, the collaboration of Polygon and Aave is crucial to help increase the scalability of the atrium and make the diff available to all. However, to achieve this goal, both have committed to a two-phase strategy.

In fact, the 1% supply of MATIC will be split evenly between the two phases. The first stage will run from today, April 14 (April 25) to June 14, 2021 (June 24) at 12:00 local time. Subsequently, the second phase will take place from June 14 (June 24) to April 13, 2022 (April 24, 1401), both at 12:00 local time. It should be noted that each phase will include about $ 18 million in bonuses.

It will also be supported by Polygon Decentralized Exchanges, including Quickswap and ComethSwap. These two decentralized exchanges dedicate part of their tokens to setting up farms for Aave Receipt Tokens. Comes Swap is also working on extracting triple liquidity to create an extra layer of space for Polygon users.

Chiliz Analysis (CHZ) Wednesday, April 14

Chiliz Analysis (CHZ) Wednesday, April 14

The price of Chiliz is currently trading above the $ 0.5 price level inside a continuous bull pattern known as the bull bullion (bullish). Such technical formation caused a jump in the market value of Chiliz and the creation of a flagpole pattern.
This process continued slowly, leading to the creation of a sloping, downward canal.

The decisive closing of the price above the upper border of the flag with the price of $ 0.523 announced the beginning of a 94% bullish (bullish) rally. By adding the height of the flagpole to the breaking point of the upper boundary, the $ 1.01 target is reached.

If traders can not restrain the Chilean uptrend, the currency could rise to the Fibonacci level of 127.2% at $ 1.61.

According to the IOMAP chart, it will not be easy to continue the uptrend because cows have a difficult path ahead of the currency traders.

Over 12,400 addresses bought 946 million Chiliz for $ 0.49 to $ 0.53. Everyone wants to sell. So any new trade in the short term may hit the opposite target because some investors want to lower prices.
Therefore, reversal by any of these price levels in this range may reduce the chill to support areas.

If sellers bring the price of Chiliz below $ 0.39, the downtrend will be key, as it indicates a move below the flag pattern.

If this scenario continues, Chiliz could initially drop 13% to $ 0.345, the first support level. Otherwise, the cryptocurrency will move to the level of 61.8% Fibonacci at $ 0.24.

Cardano Analysis (ADA) Tuesday, April 13

Cardano Analysis (ADA) Tuesday, April 13

The price of Cardano digital currency has increased by about 10% in the last 48 hours. Due to the 12-hour time frame, an important level of resistance has prevented price growth. In the last month, the price has hit this level several times but has not been able to cross it.
Looking at the 12-hour timeframe, we notice the formation of an ascending triangle pattern. This pattern consists of an uptrend line and a horizontal trend line.

The resistance level of this pattern is in the range of $ 1.35. The price is currently fluctuating in the range of $ 1,317 and is only 2.% away from this level. If Cardano can cross this resistance level, then one can expect a price increase of up to $ 1.647.
However, a significant resistance has formed at $ 1.47 and the price has hit it twice in the last month.

If the resistance does not break $ 1.35, the price will fall to the uptrend line at $ 1.24. Next, if the price penetrates below the level of this pattern, we will see a 22% drop to $ 0.96. In this way, $ 1.15 and $ 1.04 levels will play a supporting role.

XRP tokens will soon be integrated with DeFi applications

XRP tokens will soon be integrated with DeFi applications

The company (Wanchain) is about to merge with (XRP) and will provide liquidity extraction and build farming.

According to a recent announcement by Jack Lu (CEO of Wanchain), decentralized cross-chain bridges of XRP, the fourth largest cryptocurrency in terms of market value, will be activated in the main network:

This means that XRP tokens can now be used to extract liquidity and build farming.

This cross-chain integration allows XRP owners to take advantage of various applications in Wanchain and Ethereum as well, and can interact with Bitcoin and EOS, the two previously added chains.

Emi Yoshikawa, chief executive of Ripple Global Operations, said he was very excited to see the XRP ecosystem expand to support new uses such as DeFi.

An overview of today's cryptocurrency market Sunday, April 11

Bitcoin drops back below $ 60,000

After three weeks of waiting, Bitcoin finally reached the price level of more than $ 60,000 yesterday. In addition, the currency moved upwards and reached the price level of $ 61,200.

However, the situation has changed since then. Just when everyone was very happy with the trend, Bitcoin started to retreat again.

In the following hours, Bitcoin lost about $ 2,000 and reached a lower price level of $ 58,300 at (Bitstamp Exchange) and was able to return to above 60 before falling to its current level of $ 59,500. , Reach $ 000.

 Technical indicators show that $ 60,000 is the first major resistance level against the rise of Bitcoin, which could not close the daily candle above yesterday. If the Bitcoin is bullish, it will have to cross the next resistance level of $ 61,170. This price level is the same as the peak price of March, which is $ 61,780. The price could continue to decline if the Bitcoin goes below the support levels of $ 59,070, $ 58,355 and $ 57,695.

Ripple jump to higher levels; XLM among the top 10 currencies

The Altcoin market also had a pleasant trend since Saturday. Atrium was able to reach the highest price level of $ 2200 with the highest price in all time. However, the second largest digital currency at the time fell slightly more than 2% to just over $ 2,100.

Baines Quinn (BNB) also set a new record at $ 485, but calmed down to $ 475. Nevertheless, Binance Quinn has grown by more than 40% over the past week.

Polkadot (-5%), Cardano (-3%), Uniswap (-4%), and Chainlink (-3%) also moved again in the 24-hour timeframe.

Meanwhile, LightQueen rose 10% to $ 250 and Stellar rose 25% to $ 0.61. Also, XLM currency in the market has replaced LINK currency in the list of top 10 currencies in the market.

Ripple performed better than all the larger altcoins. The blockchain-based payment processor won another legal battle against the SEC because Judge Net. Sarah Netburn stopped the commission from trying to access the personal financial records of Ripple executives.

Ripple was able to rise about 40% in the next few hours, hitting a three-year high of $ 1.4.

We saw an increase in digital currencies including Elrond (15%), Reserve Rights (13%), Zcash (10%), IOTA (10%), and NEM (10%).

Despite some corrections in currencies such as Dent (-16%), Holo (-15%), KuCoin Token (-15%), Pundi X (-15%) and others, the market value of cryptocurrencies is over 2 trillion The dollar remained.

The price of Ethereum could reach $ 10,000 in 2021

The price of Ethereum could reach $ 10,000 in 2021

According to veteran trader Scott Melker, Ethereum's "tremendous upside potential" could overshadow bitcoin, and Ethereum would perform better than bitcoin, at least in the short term.

Malker sees this period of Bitcoin price stabilization as the second cryptocurrency to reach new heights recently. Melker considers Ethereum's bullish potential to be a major factor in the recent bullish market.

He also revealed that over the past few months he has changed his medium-sized investment strategy from Bitcoin to Ether to take advantage of Atrium's "tremendous uptrend".

"It's like investing in the Internet for me in the early 1990s," Malker said. Ethereum could reach $ 10,000 by the end of 2021, Malker said.

Ripple's second legal victory over the SEC boosted it by 17 percent Saturday, April 10

Ripple's second legal victory over the SEC boosted it by 17 percent Saturday, April 10

Ripple has won its second major victory in the past week in its legal battle against the US Securities and Exchange Commission (SEC). The judge in the case, Sarah Netborn, barred the Securities and Exchange Commission from accessing the personal financial records of Ripple Board executives Garlinghouse and Chris Larsen.

Following this news, the price of XRP has increased significantly and was able to reach $ 1.18 with a growth of 17%. At the time of writing, XRP is trading in exchanges at $ 1.16 with a market cap of $ 51.9 billion. With this move, XRP took the place of Tetr with a weekly growth of 76%.