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Bitcoin retests key $20K level- can bulls get a higher close?

Bitcoin price rose sharply again on Friday as a dose of volatility helped BTC add nearly $1,000 within hours to top the $20,000 mark. Indeed, the BTC/USD pair rose as high as $20,182 on crypto exchange Coinbase – up from an intraday low of around $19,154 reached earlier in the day.

The price update below shows one instance where price had increased by over $800 in 24 hours.

The $BTC price is at $20,126.22 right now.
🟢 Compared to the last tweet, the price has increased by $102.69 (0.51%).
🟢 In the last 24 hours the price has increased by $877.21 (4.56%).#Bitcoin #BTC pic.twitter.com/8l6osOlq4d

— Bitcoin updates (@Bitcoin8News) September 30, 2022

The upside for the flagship crypto asset cascaded across the altcoin market, with Ethereum also seeing a swift jump to above $1,370 and Ripple’s XRP holding to most gains after ripping higher earlier on another score for the company is its case with the US Securities and Exchange Commission (SEC).

Elsewhere, the US stock market also opened slightly higher, although the muted move is not helped by the prevailing negative sentiment. The S&P 500 trades at levels not seen since 2020 and as is likely, it could slip lower to end the brutal Q3 in the red.

Can bulls see a higher BTC monthly close?

September has been a brutal month across the risk assets market, with Bitcoin oscillating around the $20k level with some painful dips towards the $18,000 support area.

Now with the normal market session just hours away from the monthly close, the attention could be on whether bulls can avoid a second consecutive red month. As seen on the chart below, BTC is about 1.8% in the red, with August seeing the cryptocurrency dump more than 13%. 

Bitcoin has had a red month in four out of the last five, with the last one ending with BTC/USD just above the critical $20k. 

BTCUSD monthly price chart. Source: TradingView

 

A higher monthly candle close Friday could set up fresh bids for the weekend and push BTC/USD higher. It’s an outlook that’s likely if $19,600 holds and a push for $20,300 opens up the $22,000 resistance line.

The post Bitcoin retests key $20K level- can bulls get a higher close? appeared first on CoinJournal.

Theta upgrade adds support for wrapped THETA (wTHETA)

The Theta v3.4.0 upgrade completed successfully at block height 17285755.
The software change enabled support for wrapped THETA (wTHETA) ahead of Theta Metachain mainnet launch in December.

Theta, a blockchain-powered video streaming network, has successfully upgraded to v3.4.0, Theta Labs has announced.

Theta v3.4.0 went live at block height 17285755 and its success brings Theta one step closer to the launch of its Metachain mainnet slated for December 2022.

Theta adds wrapped THETA for DeFi

The hard fork to the new version completed after all community validators upgraded their nodes, with v3.4.0 adding support for wrapped THETA (wTHETA) for the Theta web wallet.

The TNT20 token – an ERC-20 like token standard on Theta, can now be used on Metamask as well as across multiple smart contracts.

The upgrade has also added support Theta-based decentralised finance (DeFi) and for staking THETA or Theta Fuel to Elite Edge Nodes and Guardian Nodes, to provide for pooled staking and increase available staking products, Theta Labs announced.

Broadly, this upgrade means more utility for THETA and opens up the ecosystem for further growth. The Theta team is preparing for a testnet release ahead of the Metachain launch, with the testnet set to offer developers a chance to build on their own highly scalable, customisable subchains.

The post Theta upgrade adds support for wrapped THETA (wTHETA) appeared first on CoinJournal.

Paradigm leads $11.8M funding for Web3 wallet security provider Blowfish

Blowfish is a firewall technology startup that’s includes engineers from Meta, MakerDAO and other platforms.

Web3 wallet security provider Blowfish has raised $11.8 million from several venture funds and other top crypto investors.

Paradigm led the funding round, with the firewall technology startup scoring the backing of Dragonfly, 0x Labs, Uniswap Ventures and Hypersphere. Angels and top crypto founders to also participate in the financing round included Naval Ravikant, Will Warren, Nathan McCauley and Jeremy Welch among others.

Blowfish looks to bolster user wallet security for Web3 users as the market continues to battle malicious actors whose growing sophistication has seen people lose millions worth of dollars.

The Blowfish team brings together top minds in the blockchain, cybersecurity and machine learning sectors. The team has engineers from Meta, 0x Labs, MakerDAO and Trail of Bits – all of whom are working on the objective of offering greater security to users.

Protecting against wallet-draining attacks

The startup’s API is designed to offer customers real-time protection against multiple attack scenarios, including phishing, software supply chain attacks, and decentralised applications (dApp) level DNS hijacking.

According to the Blowfish team, the warnings against malicious vectors will not only be accessible in real time, but also provided in a human-readable transaction context.

Phantom, a Solana-based crypto wallet for DeFi and NFTs, which has integrated the API, has reportedly scanned more than 125 million proposed transactions. The technology helped flag over 11,000 wallet-draining transactions, the Blowfish team said in their announcement.

Blowfish has helped us protect thousands of our users from malicious scams and fraud. Their API is easy to use & reliable. We’ve partnered with them because we trust their ability to continue building a great product that stays one step ahead of scammers,” said Francesco Agosti, co-founder and CTO of Phantom.

Blowfish will use the capital infusion to upgrade its fraud detection engine across Ethereum, Solana, and Polygon. They’ll also use the funds to expand to new blockchains and hire more staff to help advance security across Web3.

The post Paradigm leads $11.8M funding for Web3 wallet security provider Blowfish appeared first on CoinJournal.

CAKE price prediction: Will PancakeSwap rise in September?

PancakeSwap price had a strong performance in September as demand for top Decentralized Finance (DeFi) tokens rose. CAKE rose to a high of $5.088, which was the highest level since May 12. It has risen by more than 100% from the lowest level this year, giving it a market cap of more than $676 million.

CAKE had a good September

PancakeSwap is a leading player in the decentralized finance industry and is the biggest DEX in the BNB Smart Chain. It is a platform that makes it possible for people to buy and sell cryptocurrencies in a decentralized manner. According to CoinMarketCap, it handles more than $115 million on a daily basis. 

Unlike Uniswap and dYdX, PancakeSwap the network makes it possible for people to swap tokens and provide liquidity and earn returns. The network has also expanded its ecosystem to include betting and predictions and even NFT trading. 

In total, PancakeSwap has a total value locked (TVL) of more than $2.92 billion. In the past 24 hours, the network raised over $430k in fees leading to revenue of $51k. 

CAKE price has done well in the past few months mostly because of the stability of the DeFi industry. Indeed, other DeFi tokens have done well in the past few weeks. This includes tokens like Lido, Aave, Uniswap, and Maker. 

After the collapse of centralized projects like Celsius, Vauld, and Voyager Token, many analysts believe that users will continue to move to decentralized platforms. For one, they are more secure than centralized ones because of their open-source nature.

PancakeSwap price prediction

The daily chart shows that the CAKE price has been in a strong bullish trend in the past few days. It has risen by more than 100% from the lowest level in June. The coin has risen above the 25-day and 50-day moving averages. It has also moved slightly above the important resistance level at $4.6 while the Relative Strength Index (RSI) has continued rising.

Therefore, there is a likelihood that the coin will continue rising as bulls target the next key resistance level at $7.5, which is about 60% above the current level. This is an important price since it was the lowest point on April 12.

How to buy CAKE

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 CAKE with Binance today

Bitpanda

Bitpanda is a digital assets brokerage company.

It has grown to become one of the most popular crypto exchanges in the world, as it offers a user-friendly interface, it has developed a bunch of great features and it offers a variety of coins to invest in.

Bitpanda has also built a reputation for security, and it has never experienced a hack of its data before.


Buy CAKE with Bitpanda today

The post CAKE price prediction: Will PancakeSwap rise in September? appeared first on CoinJournal.

OAX price: Is this obscure cryptocurrency a good buy?

OAX price has been in a strong bullish trend in the past few weeks, becoming one of the best-performing cryptocurrencies in the world. It has jumped by more than 1,530% from its lowest level in June, bringing its total market cap to more than $25 million. So, is OAX a good buy or sell?

What is OAX and why is it rising?

OAX is a blockchain project that seeks to improve the digital asset ecosystem by solving some of the biggest challenges in the industry. Its platform helps to increase efficiency, transparency, and promotes high standards of governance. In particular, the platform’s goal is more geared towards the decentralized finance (DeFi) industry.

Still, unlike other blockchain projects, the use case for OAX is not yet known. A quick look at the website shows nothing much about it. There is no white paper and the content in the website does not show much details about what it does. There is also no details about its ecosystem.

So, why is this obscure cryptocurrency soaring? It is not clear why OAX has been in a strong bullish trend in the past few weeks. A quick look at its coverage also shows nothing meaningful. Therefore, a possible reason is that this could be a pump and dump scheme.

This is a scheme where a small group of people push a coin or any other asset, let it soar, and then dump it. As a result, many buyers are left holding the bag. We have seen such pumps and dumps several times recently. For example, on Friday, Hong Kong’s authorities charged a group of 13 people with carrying such a scheme. 

OAX price prediction

The daily chart shows that OAX has been in a strong bullish trend in the past few months. It has surged by more than 1,600% from the lowest point in June. Along the way, it has risen above all moving averages and all important resistance levels. Oscillators have continued rising. 

In my view, I believe that this bull run is not sustainable, especially if its cause is an ongoing pump and dump scheme. Therefore, there is a likelihood that the coin will start falling in October as buyers start taking profits.

How to buy OAX

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 OAX with Binance today

Swapzone

Swapzone is a crypto exchange aggregator that operates as a gateway between the cryptocurrency community and exchange services. Swapzone aims to provide a convenient interface, safe user flow, and crystal-clear data for users to find the best exchange rates among the whole cryptocurrency market.


Buy OAX with Swapzone today

The post OAX price: Is this obscure cryptocurrency a good buy? appeared first on CoinJournal.

Spain’s Largest Telecom Company Telefónica Now Accepts Bitcoin, Crypto Payments

Telefónica partnered with Spain’s largest bitcoin exchange Bit2me to enable the new feature on its online tech marketplace.

Spain’s largest telecommunications company is now accepting bitcoin and cryptocurrencies as payment on its ecommerce store. Telefónica partnered with Bit2Me, the largest cryptocurrency exchange in the country, to facilitate real time payment conversion into euros. The telecom has also reportedly invested in Bit2Me, and further details will be released in the upcoming weeks.

Telefónica, the largest telecommunications company in Spain, now accepts bitcoin and cryptocurrencies as payment.

The payment method was added to Telefónica’s online tech marketplace Tu.com in a partnership with Bit2Me, the largest bitcoin and cryptocurrency in Spain. Customers can take advantage of the “revolutionary payment method” by simply clicking the Bit2Me Commerce payment method at checkout, per the company’s announcement.

Additionally, Telefónica has reportedly invested in Bit2Me. Details of the investment are expected to be released in the coming weeks.

Despite the fact that users looking to take advantage of the new feature simply need to add the product to the cart and select Bit2Me Commerce before paying, there is a purchase minimum and limit set between $200 and $500, respectively.

Upon the completion of the checkout process, Bit2Me automatically converts the chosen form of payment into euros in realtime, removing any technological barriers for merchants such as Telefónica.

Spanish interest in bitcoin and cryptocurrencies continues to grow as this past summer, the RCD Espanyol professional soccer team became the first La Liga team to accept the new form of payment.

Additionally, Spanish airline Vueling is also set to begin accepting bitcoin in 2023. However, Vueling chose to partner with cryptocurrency payment service provider BitPay to facilitate its new form of payment.

Bitcoin price: Analyst doesn’t expect long lasting decoupling ‘at this stage’

Bitcoin continues to hold above the $19,000 mark even as currency woes wreaked havoc across stocks and other legacy markets this week.

After dipping to lows beneath $18,600, Bitcoin bounced as high as $20,300 before paring the gains amid a highly volatile market that also saw the S&P 500 Index notch losses that puts it on course for three consecutive quarterly losses. It’d be the first time the index has registered this kind of performance since 2009.

BTC/S&P 500

If stocks face another sell-off and the tumbling continues in the face of a Fed tightening and concerns of a recession, Dylan Leclair, a senior crypto analyst, says the market could see a BTC outperformance against equities.

According to the analyst, Bitcoin’s “relative strength” against legacy indices has been encouraging, pointing to a BTC/S&P 500 chart.

Encouraging relative strength from the orange coin against legacy indices.

Still think a long lasting “decoupling” is highly unlikely in this stage, but relative outperformance is a decent start.

All eyes on FX, global bonds, and equities for the direction of the next move. pic.twitter.com/Enfbl0vn2R

— Dylan LeClair 🟠 (@DylanLeClair_) September 29, 2022

While he doesn’t expect the “decoupling” to be long lasting given broader market conditions, he still thinks the benchmark cryptocurrency could master a decent run against the index. What investors might have to watch out for, he tweeted, is what happens next within the legacy financial markets – equities, FX and global bonds.

The analyst however warns of a potential sell-off for Bitcoin should there be a “huge illiquidity event.” He said:

Still convicted in my view of a legacy system vol event coming – it’s clear that liquidity tide is drawing out. BTC/USD exchange rate won’t be insulated from a huge illiquidity event, because nothing except USD & vol will.”

Bitcoin was trading around $19,260 on Friday morning (09:45 am ET), just in the green on the day but down 1.2% this past week. The S&P 500 opened higher lower and was at 3,634, more than 1.4% down in the past five days. 

The post Bitcoin price: Analyst doesn’t expect long lasting decoupling ‘at this stage’ appeared first on CoinJournal.

Polygon invests in BFF to diversify company holdings

Singapore-based VC Blockchain Founders Fund (BFF), focused on blockchain and early-stage Web3 startups globally, and Polygon have entered into a strategic partnership, Coin Journal learned from a press release

Polygon is investing in the fund to advance blockchain adoption and diversify the company’s holdings. 

BFF boasts track record in effective scaling 

Blockchain Founders Fund boasts an impressive track record of scaling companies in the Web3 space to targeted audiences.

Among the companies associated with BFF are such working in social intelligence for cryptocurrencies (LunarCrush), blockchain-powered no-code gaming studios, and various other apps. 

Fund raised $75m from leading investors 

The web3-focused fund launched in January after a number of leading investors helped it raise $75 million. Among them were Appworks, Sebastien Borget, COO of The Sandbox, NEO Global Capital (NGC), and Polygon co-founder Sandeep Nailwal.

In the past, Polygon and BFF have invested in top blockchain companies such as Altered State Machine and Splinterlands to speed up and empower dApps. 

The present partnership will allow both companies to provide Web3 founders with exceptional value propositions and disrupt industries.

Mr. Nailwal commented:

We must support entrepreneurs in building innovative products and infrastructure if we want to realize the vision of Web3 and help achieve mainstream adoption. We are delighted by the prospect of working with Blockchain Founders Fund, which believes in the transformative potential of Web3 and share our vision.

BFF Managing Partner Aly Madhavji added:

Adding an institution like Polygon as a partner will expand our capacity to invest in a broader range of early-stage companies. Their industry expertise will help us connect with the highest-potential companies that are finding real solutions to real problems.

The best blue-chip services, gaming platforms 

Polygon boasts more than 37,000 dApps and is transforming into the de facto Web3 platform. 

The ecosystem is comprised of an array of blue-chip services such as Aave, Curve, and Uniswap and top metaverse and gaming platforms like The Sandbox and Decentraland. 

The network also works on the mass market, helping leading world brands like Adobe and Starbucks integrate Web3 functionality. 

The post Polygon invests in BFF to diversify company holdings appeared first on CoinJournal.

Innovations Never Cease: Polygon Has Been Added to 1xBit

It is a new day on 1xBit, the crypto betting platform, as it gets ready to unveil its latest addition.

1xBit completed a recent upgrade to enable it to accept Polygon (MATIC) as a payment method on the website.

The latest change is a welcome development for the crypto space and bettors on 1xBit, who now have the opportunity to enjoy more options as they play and bet.

Who Founded the Polygon Project? 

The Polygon Project was co-founded by Jaynti Kanani, Sandeep Nailwal, Anurag Arjun and Mihailo Bjelic.

Co-founders came together to solve the problems faced by Ethereum by launching the Polygon project – the project was launched in October 2017, and it has since gained popularity and acceptance in the crypto community.

The Basics of Polygon

The crypto space always gets exposed to new products and solutions, as seen with the advent of Ethereum, which is set to correct the errors observed in Bitcoin.

Similarly, Ethereum may be the muster point for DeFi development and the most secured smart contract solution. However, it is not without major limitations like lack of Blockchain interoperability and slow or stagnant transactions – limitations that the Polygon network seeks to solve.

Polygon is a project launched on the Ethereum network but works to create a multi-ecosystem of other blockchains on the Ethereum chain. Polygon promotes interoperability by ensuring that developers have easy access to tools enabling them to build and launch other blockchains without needing to start coding from scratch.

With Polygon, you have a system that permits broader communication between different Blockchains, a functionality that was not readily available.

The Polygon network uses MATIC as its native cryptocurrency for funding transaction fees on DeFi and NFT marketplaces.

The working mechanism of Polygon shows a remarkable project in all aspects and underlines why 1xBit wants its community to have access to it.

What Makes Polygon Special

Since Ethereum is a very big network, there is a lack of an easy upgrade, but Polygon was able to refine itself as a blockchain that can be easily scalable.

Even though creators built the network on Ethereum, which uses a Proof-of-Work governance structure, Polygon was built on a side chain of Ethereum on a customized version of Proof-of-Stake – a more acceptable and scalable protocol.

With these features, Polygon is equipped to deliver over 65,000 transactions per block compared to Ethereum, which can only process about 15 transactions per second. The lack of delays will also ensure reduced transaction fees from the usual 10-30 USD seen on Ethereum transactions. 

The uniqueness of Polygon opens a new shore for crypto gambling; to make it more accessible and easy as players surf the 1xBit website.

What 1xBit Offers 

1xBit constantly adds new crypto tokens for its players to use. Thus, Polygon is the latest addition to the over 40 cryptocurrencies available on the website.

1xBit, as a crypto betting site, has simplified every aspect of betting to become innovative like Bitcoin. First, registration is easy because you only need an email address.

Second, transactions on the website are fast and routed to avoid unnecessary delays. And even a rare occurrence is that you do not have to lose a dime to 1xBit because of transaction fees; on 1xBit, you pay zero fees.

Players still enjoy an anonymity shield on all transactions on the platform, which is backed by its use of blockchain as a foundation.

On 1xBit, it even gets better if you are new because there is a full welcome package of up to 7 BTC bonus waiting for you on your 1-4th deposits.

Conclusion 

Suppose you have yet to use Polygon before now. In that case, it is time to enjoy Polygon on 1xBit – it was engineered to make your experience amazing!

The post Innovations Never Cease: Polygon Has Been Added to 1xBit appeared first on CoinJournal.

MicroStrategy Looks To Hire Bitcoin Engineer For Building Lightning Platform

The job posting details an enterprise SaaS platform to innovate ecommerce and cybersecurity leveraging Bitcoin and the Lightning Network.

MicroStrategy is looking to hire a Bitcoin software engineer. The new hire will be tasked with building an enterprise-grade ecommerce and cybersecurity SaaS platform based on Bitcoin and the Lightning Network. The job posting shows preference for Bitcoin and Lightning developers, but also considers some DeFi experience.

Software analytics firm MicroStrategy, the largest corporate holder of BTC, is hiring a Bitcoin software engineer to build a new Lightning-based enterprise platform.

The software-as-a-service (SaaS) product will provide institutions with “innovative solutions to cyber-security challenges and [enable] new ecommerce use-cases,” per the company’s job posting.

MicroStrategy has risen to become not only one of the largest holders of bitcoin in the world with over 130,000 BTC on its balance sheet, but also for trying to expand the ecosystem in creative ways.

When Michael Saylor stepped down from his position of CEO to become executive chairman, he announced that the decision was made so he could focus on Bitcoin initiatives and acquiring more BTC.

MicroStrategy’s continued foray into the ecosystem builds on Saylor’s previous intentions to focus purely on expanding the network. In fact, in accordance with his often-discussed Bitcoin maximalist ideology, the job posting lists a few things that should be the “focus” of anyone looking to apply to the engineer position. The company wants applicants to have contributions to Bitcoin Core and experience with SaaS solutions leveraging Bitcoin’s blockchain or the Lightning Network.

This past August, Saylor and MicroStrategy also became the target of the D.C. attorney general who announced his intention to sue both parties for alleged tax fraud.