Ethereum gained pace above the $3,250 zone against the US Dollar. ETH price is correcting gains from $3,400, but dips might be limited in the near term.
Ethereum started a strong increase above the $3,250 resistance zone.
The price is trading above $3,250 and the 100 hourly simple moving average.
There is a major bullish trend line forming with support near $3,300 on the hourly chart of ETH/USD (data feed via Kraken).
The pair could continue to rise if there is a clear break above the $3,380 resistance zone.
Ethereum Price Gains Momentum
Ethereum started a strong increase above the $3,250 resistance zone. ETH even broke the $3,300 resistance zone and the 100 hourly simple moving average to move further into a positive zone.
The bulls even pumped the price above the $3,350 level. Ether price spiked above the $3,400 level and a new weekly high is formed near $3,412. It is now correcting gains and trading below $3,360. There was a break below the 23.6% Fib retracement level of the recent upward move from the $3,206 swing low to $3,412 high.
Ether price is now trading above $3,250 and the 100 hourly simple moving average. There is also a major bullish trend line forming with support near $3,300 on the hourly chart of ETH/USD. On the upside, an immediate resistance is near the $3,380 level.
Source: ETHUSD on TradingView.com
A clear move above the $3,380 level might start another increase in the near term. The next major resistance is near the $3,420 level, above which ether price could test $3,500. Any more gains could send the price towards the $3,550 level in the near term.
Dips Limited in ETH?
If ethereum fails to start a fresh increase above the $3,380 level, it could start a downside correction. An initial support on the downside is near the $3,320 level. The first key support is now forming near the $3,300 level.
It is near the 50% Fib retracement level of the recent upward move from the $3,206 swing low to $3,412 high. A downside break below the $3,300 level push the price towards the trend line support. Any more losses could lead the price towards $3,200.
Technical Indicators
Hourly MACD – The MACD for ETH/USD is slowly losing pace in the bullish zone.
Hourly RSI – The RSI for ETH/USD is above the 50 level.
The cryptocurrency community is back in high spirits on Jan. 12 after a majority of tokens in the top 200 flashed green following Bitcoin’s (BTC) spike to $44,000.
The return of bullish momentum has come as a boon to several altcoin projects, with multiple tokens seeing gains in excess of 20%.
Top 7 coins with the highest 24-hour price change. Source: Cointelegraph Markets Pro
Data from Cointelegraph Markets Pro and TradingView shows that the biggest gainers over the past 24-hours were Anyswap (ANY), Keep3rV1 (KP3R) and WEMIX (WEMIX).
Anyswap expands its list of supported networks
Gains in the altcoin market were led by Anyswap, a decentralized exchange that specializes in allowing users to transfer and swap tokens between 25 distinct networks.
Data from Cointelegraph Markets Pro and TradingView shows that since falling to a low of $15.16 on Jan. 10, the price of ANY ripped 77.67% higher to a daily high of $26.93 on Jan. 12 as its 24-hour trading volume spiked 525% to $114.5million.
ANY/USDT 4-hour chart. Source: TradingView
The sudden spike in activity and price for ANY come as the protocol recently added two new networks to its list of supported chains including a FomoETH bridge and Moonbeam, which just officially launched on Polkadot.
Keep3rV1 branches out to other networks
Keep3rV1 is a project focused on creating a decentralized job board designed to help projects connect with external developers that can provide specialized services.
VORTECS™ data from Cointelegraph Markets Pro began to detect a bullish outlook for KP3R on Jan. 7, prior to the recent price rise.
The VORTECS™ Score, exclusive to Cointelegraph, is an algorithmic comparison of historical and current market conditions derived from a combination of data points including market sentiment, trading volume, recent price movements and Twitter activity.
VORTECS™ Score (green) vs. KP3R price. Source: Cointelegraph Markets Pro
As seen in the chart above, the VORTECS™ Score for KP3R climbed into the green zone on Jan. 7 and hit a high of 80 roughly 79 hours before the price rallied 79.64% over the next two days.
The bullish move higher for KP3R comes following a tease released by the project indicating that KP3R will soon have cross-chain functionality between Ethereum (ETH), Fantom (FTM) and the layer-two solution Optimism.
Related: QuickSwap founder: L2s are the path to mass adoption
WEMIX lists at Upbit
WEMIX is a global blockchain gaming platform developed by Wemade Tree that is designed specifically for gaming dApps and includes a marketplace for digital assets and nonfungible tokens (NFTs).
Data from Cointelegraph Markets Pro and CoinGecko shows that after sliding to a low of $3.96 on Jan. 10, the price of WEMIX rebounded 106% to a daily high at $8.16 on Jan. 12 as its 24-hour trading volume spiked to $1.2 billion.
WEMIX/USD 1-hour chart. Source: CoinGecko
The surge in interest and trading volume for WEMIX comes as the token listed on the popular Korean cryptocurrency exchange Upbit on Jan. 10 and announced the details for the next WEMIX NFT auction drop.
The overall cryptocurrency market cap now stands at $2.073 trillion and Bitcoin’s dominance rate is 39.8%.
The views and opinions expressed here are solely those of the author and do not necessarily reflect the views of Cointelegraph.com. Every investment and trading move involves risk, you should conduct your own research when making a decision.
Singapore, January 12th, 2022 — Blockchain-powered sports and entertainment NFT solution Jetcoin celebrates the victory of their sleeve-sponsored team Huddersfield Town A.F.C. which has defeated Burnley in the FA Cup Third Round.
This comes close on the heels of the sport NFT solutions provider’s IDO which closed successfully a week before, followed by its listing on popular BSC (Binance Smart Chain) DEX (decentralized exchange) Pancakeswap, with 80% of the funds raised, locked in liquidity on the platform.
“Broadcast in 38 countries with potential viewership of 200 million, the FA Cup games offer massive global exposure and we couldn’t be prouder of our team Huddersfield’s amazing performance on the pitch this past weekend,” declares Jetcoin CEO and founder Eric Alexandre.
Three match jerseys worn at the game are redeemable for fans through the JET Interactive NFT cards.
History on Repeat? Double Underdog Wins with Jetcoin Sleeve Sponsorship
Currently, Burnley competes in the top tier of English Football, the English Premier League, while Town competes in the Championship, the second tier. For Jetcoin, the upset win is reminiscent of the 2018 FA Cup Championship when another David-Goliath tale played out as Wigan Athletic F.C., a League One team two divisions down EPL, scored a historic win against Manchester City, the then leading team in the EPL. Both times saw sport NFT solutions provider Jetcoin supporting the underdog with sleeve sponsorship and emerging victorious.
2022 also marks the 100th anniversary of Huddersfield’s only FA Cup success in 1922, a run which began with a 2–2 draw at Turf Moor, home stadium to Burnley.
Staking Program Officially Open with 1 oz Pure Silver Minted $JET for 1st 100 Participants
$JET holders can now swap and trade on Pancakeswap in the WBNB/JET liquidity pool:
To reward its supporters, Jetcoin is rolling out a 30-day staking program for liquidity providers (LPs) who provide liquidity to the WBNB/JET pool to earn limited edition JET NFTs.
In addition, the first 100 participants who stake 1 BNB worth of the WBNB/JET pair for 30 days will also receive a 1 oz pure silver physical Jetcoin ($JET). This limited reward offer will be dropped into the ‘Rewards’ slide of the JET NFT app 7 days before the staking period of the LP tokens ends.
Detailed step-by-step instructions on how to provide liquidity for the WBNB/JET pair in PancakeSwap and how to lock the Liquidity Provider (LP) tokens can be found here: https://jetcoins.medium.com/stake-earn-nfts-with-jet-2f0183381191
Vigilance Please!
The correct JET contract address for the $JET BEP20 Token is as follows:
0xc5b43669a899c5da2a98b2bf8c9082d5e8d5ee0d
$JET token holders are reminded to be vigilant against scammers and fake addresses and should exercise caution whenever participating in transactions. Only the following official channels contain the most current and accurate information about the developments of $JET.
Blockchain-powered Jetcoin ($JET) is digital fuel that gives fans and supporters in the world of sports and entertainment a unique opportunity to benefit directly from the success of their favorite athletes and stars. Through the JET NFTs, individuals participate in their talents’ success stories when they choose to purchase unique NFT series of artwork and collectibles from emerging talents in sports and entertainment. When the talents mature in their careers, the value of their image rights increase, translating into rewards for the fans holding the NFTs.
To date, Jetcoin has sponsored Championship Football Club Huddersfield Town A.F.C., English Football League Derby County FC, Wigan Athletic F.C., English Premier League perimeter banner advertising, two Serie A football teams (A.C. Chievo Verona and Hellas Verona); three luxury yacht shows (Singapore, Phuket and Penang Rendezvous); and three Formula One Official After-Parties in Singapore.
About Huddersfield Town
Huddersfield Town Association Football Club is an English professional football club based in Huddersfield, West Yorkshire. Founded on 15 August 1908, it entered the Football League in 1910. The team is currently competing in the Championship, the second tier of English football.
Starting Today, January 11, transfer GFI into your Coinbase Pro account ahead of trading. Support for GFI will generally be available in Coinbase’s supported jurisdictions with certain exceptions as indicated in each asset page here. Trading will begin later today if liquidity conditions are met.
One of the most common requests we receive from customers is to be able to trade more assets on our platform. Per the terms of our listing process, we anticipate supporting more assets that meet our standards over time. Most recently we have added trading support for DESO, API3 (API3), Bluezelle (BLZ), Gods Unchained (GODS), Immutable X (IMX), Measurable Data Token (MDT), Ribbon Finance (RBN), Circuits of Value (COVAL), IDEX (IDEX), Moss Carbon Credit (MCO2), Polkastarter (POLS), ShapeShift FOX Token (FOX), Spell Token (SPELL) and SuperFarm (SUPER)
Once sufficient supply of GFI is established on the platform, trading on our GFI-USDorder book will launch in phases, auction mode then limit-only or full trading mode. If at any point one of the new order books does not meet our assessment for a healthy and orderly market, we may keep the book in one state for a longer period of time or suspend trading as per our Trading Rules.
We will publish tweets from our Coinbase Exchange Twitter account as each order book moves through the phases.
Goldfinch Protocol (GFI) is an Ethereum token that governs Goldfinch, a decentralized credit protocol for extending business loans without collateral. The token can be used to vote on the future of the protocol and protocol auditors can stake GFI to receive rewards.
GFI is not yet available on Coinbase.com or via our Consumer mobile apps. We will make a separate announcement if and when this support is added.
You can sign up for a Coinbase Pro account here to start trading. For more information on trading GFI on Coinbase Pro, visit our support page.
### Please note: Coinbase Ventures may be an investor in the crypto projects mentioned here, and additionally, Coinbase may hold such tokens on its balance sheet for operational purposes. A list of Coinbase Ventures investments is available at https://ventures.coinbase.com/. Coinbase intends to maintain its investment in these entities for the foreseeable future and maintains internal policies that address the timing of permissible disposition of any related digital assets, if applicable. All assets, regardless of whether Coinbase Ventures holds an investor or Coinbase holds for operational purposes, are subject to the same strict review guidelines and review process. This website contains links to third-party websites or other content for information purposes only (“Third-Party Sites”). The Third-Party Sites are not under the control of Coinbase, Inc., and its affiliates (“Coinbase”), and Coinbase is not responsible for the content of any Third-Party Site, including without limitation any link contained in a Third-Party Site, or any changes or updates to a Third-Party Site. Coinbase is not responsible for webcasting or any other form of transmission received from any Third-Party Site. Coinbase is providing these links to you only as a convenience, and the inclusion of any link does not imply endorsement, approval or recommendation by Coinbase of the site or any association with its operators.
Crypto is a new type of asset. Besides potential day to day or hour to hour volatility, each crypto asset has unique features. Make sure you research and understand individual assets before you transact.
All images provided herein are by Coinbase.
Goldfinch Protocol (GFI) is launching on Coinbase Pro was originally published in The Coinbase Blog on Medium, where people are continuing the conversation by highlighting and responding to this story.
The United Kingdom’s Financial Conduct Authority (FCA) is slowly approving the registration of crypto companies one at a time: the most recent one being NYDIG subsidiary Bottlepay, which is a Bitcoin-based payments company.
Announced on Tuesday, the company highlighted that it has become the first Lightning Network payments company to receive the British financial market regulator’s approval as a crypto business.
“Our registration with the FCA is an achievement not just for Bottlepay, but for the
Lightning Network
Lightning Network
The Lightning Network is a second-layer payment protocol that operates on top of a blockchain-based cryptocurrency. It enables fast transactions among participating nodes and has been touted as a solution to the Bitcoin scalability problem.This framework features a peer-to-peer (P2P) system for making micropayments of cryptocurrency via a network of bidirectional payment channels without delegating custody of funds.Transactions on the Lightning Network are only added to the blockchain when the two parties that are involved in a payment channel open or close the channel. Therefore, multiple transactions can be sent within a single channel without requiring the consensus of the entire blockchain, making the transaction process considerably faster. Normalized use of the Lightning Network involves the opening of a payment channel by committing a funding transaction to the relevant base blockchain or first layer. This in turn is followed by making any number of Lightning transactions that update the distribution of the channel’s funds without broadcasting those to the blockchain.Additionally, these may or may not be followed by closing the payment channel by broadcasting the final version of the settlement transaction to distribute the channel’s funds.How Does the Lightning Network Affect Everyday Users?For example, one Lightning Network user, Jim, can open a payment channel with a local corner store and deposit $100 worth of Bitcoin in it. Every time he visits the store, he can use his balance to instantly buy whatever he pleases. At the same time, Jane, another Lightning Network user, has opened up a channel with the cafe next to the corner shop. She also buys things from the corner shop. Because Jim has opened a channel with the corner store, Jane can also use the Lightning Network to pay for things there. Similarly, Jim can use the Lightning Network at the cafe.
The Lightning Network is a second-layer payment protocol that operates on top of a blockchain-based cryptocurrency. It enables fast transactions among participating nodes and has been touted as a solution to the Bitcoin scalability problem.This framework features a peer-to-peer (P2P) system for making micropayments of cryptocurrency via a network of bidirectional payment channels without delegating custody of funds.Transactions on the Lightning Network are only added to the blockchain when the two parties that are involved in a payment channel open or close the channel. Therefore, multiple transactions can be sent within a single channel without requiring the consensus of the entire blockchain, making the transaction process considerably faster. Normalized use of the Lightning Network involves the opening of a payment channel by committing a funding transaction to the relevant base blockchain or first layer. This in turn is followed by making any number of Lightning transactions that update the distribution of the channel’s funds without broadcasting those to the blockchain.Additionally, these may or may not be followed by closing the payment channel by broadcasting the final version of the settlement transaction to distribute the channel’s funds.How Does the Lightning Network Affect Everyday Users?For example, one Lightning Network user, Jim, can open a payment channel with a local corner store and deposit $100 worth of Bitcoin in it. Every time he visits the store, he can use his balance to instantly buy whatever he pleases. At the same time, Jane, another Lightning Network user, has opened up a channel with the cafe next to the corner shop. She also buys things from the corner shop. Because Jim has opened a channel with the corner store, Jane can also use the Lightning Network to pay for things there. Similarly, Jim can use the Lightning Network at the cafe. Read this Term,” said Pete Cheyne, the Founder of Bottlepay. “This registration goes to show that we can build the financial infrastructure of the future while upholding the regulatory and compliance standards of today.”
Lightning Network
The lightning network was introduced to overcome the limitations of the
Bitcoin
Bitcoin
Bitcoin is the world’s first digital currency that was created in 2009 by a mysterious entity named Satoshi Nakamoto. As a digital currency or cryptocurrency, Bitcoin operates without a central bank or single administrator. Instead, Bitcoin can be sent via a Peer-to-Peer (P2P) networking, devoid of intermediaries.Bitcoins are not issued or backed by any governments or banks, and Bitcoin is not considered to be legal tender, although they do have status as an acknowledged transfer of value in some jurisdictions. Rather than composing a physical currency, Bitcoins are pieces of code that can be sent and received across a kind of distributed ledger network called a blockchain. Transactions on the Bitcoin network are confirmed by a network of computers (or nodes) that solve a series of complex equations. This process is called mining. In exchange for mining, the computers receive rewards in the form of new Bitcoins. Mining grows increasingly difficult over time, and the rewards get smaller and smaller. There is a total of 21 million Bitcoins. As of May 2020, there are 18.3 million Bitcoins in circulation. This number changes approximately every 10 minutes when new blocks are mined. Presently, each new block adds 12.5 bitcoins into circulation.Since its inception, Bitcoin has remained the most popular and largest cryptocurrency in terms of market cap in the world. Bitcoin’s popularity has contributed significantly to the release of thousands of other cryptocurrencies, called “altcoins.” While the crypto market was originally hegemonic, today’s landscape features countless altcoins.Bitcoin ControversyBitcoin has been extremely controversial since its original launch. Given its mercurial nature, Bitcoin has been criticized for its use in illegal transactions and money laundering.As its impossible to trace, these attributes make Bitcoin the ideal vehicle for illicit behavior. Moreover, critics point to its high electricity consumption for mining, rampant price volatility, and thefts from exchanges. Bitcoin has been seen as a speculative bubble given its lack of oversight. The crypto has weathered multiple collapses and survived over a decade so far. Unlike its launch back in 2009, Bitcoin today is viewed far differently and is much more accepted by merchants and other entities.
Bitcoin is the world’s first digital currency that was created in 2009 by a mysterious entity named Satoshi Nakamoto. As a digital currency or cryptocurrency, Bitcoin operates without a central bank or single administrator. Instead, Bitcoin can be sent via a Peer-to-Peer (P2P) networking, devoid of intermediaries.Bitcoins are not issued or backed by any governments or banks, and Bitcoin is not considered to be legal tender, although they do have status as an acknowledged transfer of value in some jurisdictions. Rather than composing a physical currency, Bitcoins are pieces of code that can be sent and received across a kind of distributed ledger network called a blockchain. Transactions on the Bitcoin network are confirmed by a network of computers (or nodes) that solve a series of complex equations. This process is called mining. In exchange for mining, the computers receive rewards in the form of new Bitcoins. Mining grows increasingly difficult over time, and the rewards get smaller and smaller. There is a total of 21 million Bitcoins. As of May 2020, there are 18.3 million Bitcoins in circulation. This number changes approximately every 10 minutes when new blocks are mined. Presently, each new block adds 12.5 bitcoins into circulation.Since its inception, Bitcoin has remained the most popular and largest cryptocurrency in terms of market cap in the world. Bitcoin’s popularity has contributed significantly to the release of thousands of other cryptocurrencies, called “altcoins.” While the crypto market was originally hegemonic, today’s landscape features countless altcoins.Bitcoin ControversyBitcoin has been extremely controversial since its original launch. Given its mercurial nature, Bitcoin has been criticized for its use in illegal transactions and money laundering.As its impossible to trace, these attributes make Bitcoin the ideal vehicle for illicit behavior. Moreover, critics point to its high electricity consumption for mining, rampant price volatility, and thefts from exchanges. Bitcoin has been seen as a speculative bubble given its lack of oversight. The crypto has weathered multiple collapses and survived over a decade so far. Unlike its launch back in 2009, Bitcoin today is viewed far differently and is much more accepted by merchants and other entities. Read this Term network and make it suitable for making small and instant payments. However, the majority of the crypto industry is yet to adopt the supplementary technology.
Meanwhile, Bottlepay is focused on building an instant payment network and is allowing users to make payments in Bitcoin, pound sterling and euro.
“We are incredibly proud of what the Bottlepay team has accomplished,” said NYDIG President, Yan Zhao. “Securing FCA registration is a breakthrough event and is a testament to NYDIG’s and Bottlepay’s commitment to compliance. Together with Bottlepay, we will continue to work hard to make the Bitcoin network accessible to all.”
The FCA mandated the registration of all cryptocurrency platforms operating in the United Kingdom last year. Though the initial deadline was short, the regulator extended it until March 2022 due to the massive backlog on its part to review the submitted applications. So far only a handful of crypto companies have gained the FCA’s nod, but interestingly dozens of companies withdrew their applications, meaning they do not want to offer their services in the British market.
The United Kingdom’s Financial Conduct Authority (FCA) is slowly approving the registration of crypto companies one at a time: the most recent one being NYDIG subsidiary Bottlepay, which is a Bitcoin-based payments company.
Announced on Tuesday, the company highlighted that it has become the first Lightning Network payments company to receive the British financial market regulator’s approval as a crypto business.
“Our registration with the FCA is an achievement not just for Bottlepay, but for the
Lightning Network
Lightning Network
The Lightning Network is a second-layer payment protocol that operates on top of a blockchain-based cryptocurrency. It enables fast transactions among participating nodes and has been touted as a solution to the Bitcoin scalability problem.This framework features a peer-to-peer (P2P) system for making micropayments of cryptocurrency via a network of bidirectional payment channels without delegating custody of funds.Transactions on the Lightning Network are only added to the blockchain when the two parties that are involved in a payment channel open or close the channel. Therefore, multiple transactions can be sent within a single channel without requiring the consensus of the entire blockchain, making the transaction process considerably faster. Normalized use of the Lightning Network involves the opening of a payment channel by committing a funding transaction to the relevant base blockchain or first layer. This in turn is followed by making any number of Lightning transactions that update the distribution of the channel’s funds without broadcasting those to the blockchain.Additionally, these may or may not be followed by closing the payment channel by broadcasting the final version of the settlement transaction to distribute the channel’s funds.How Does the Lightning Network Affect Everyday Users?For example, one Lightning Network user, Jim, can open a payment channel with a local corner store and deposit $100 worth of Bitcoin in it. Every time he visits the store, he can use his balance to instantly buy whatever he pleases. At the same time, Jane, another Lightning Network user, has opened up a channel with the cafe next to the corner shop. She also buys things from the corner shop. Because Jim has opened a channel with the corner store, Jane can also use the Lightning Network to pay for things there. Similarly, Jim can use the Lightning Network at the cafe.
The Lightning Network is a second-layer payment protocol that operates on top of a blockchain-based cryptocurrency. It enables fast transactions among participating nodes and has been touted as a solution to the Bitcoin scalability problem.This framework features a peer-to-peer (P2P) system for making micropayments of cryptocurrency via a network of bidirectional payment channels without delegating custody of funds.Transactions on the Lightning Network are only added to the blockchain when the two parties that are involved in a payment channel open or close the channel. Therefore, multiple transactions can be sent within a single channel without requiring the consensus of the entire blockchain, making the transaction process considerably faster. Normalized use of the Lightning Network involves the opening of a payment channel by committing a funding transaction to the relevant base blockchain or first layer. This in turn is followed by making any number of Lightning transactions that update the distribution of the channel’s funds without broadcasting those to the blockchain.Additionally, these may or may not be followed by closing the payment channel by broadcasting the final version of the settlement transaction to distribute the channel’s funds.How Does the Lightning Network Affect Everyday Users?For example, one Lightning Network user, Jim, can open a payment channel with a local corner store and deposit $100 worth of Bitcoin in it. Every time he visits the store, he can use his balance to instantly buy whatever he pleases. At the same time, Jane, another Lightning Network user, has opened up a channel with the cafe next to the corner shop. She also buys things from the corner shop. Because Jim has opened a channel with the corner store, Jane can also use the Lightning Network to pay for things there. Similarly, Jim can use the Lightning Network at the cafe. Read this Term,” said Pete Cheyne, the Founder of Bottlepay. “This registration goes to show that we can build the financial infrastructure of the future while upholding the regulatory and compliance standards of today.”
Lightning Network
The lightning network was introduced to overcome the limitations of the
Bitcoin
Bitcoin
Bitcoin is the world’s first digital currency that was created in 2009 by a mysterious entity named Satoshi Nakamoto. As a digital currency or cryptocurrency, Bitcoin operates without a central bank or single administrator. Instead, Bitcoin can be sent via a Peer-to-Peer (P2P) networking, devoid of intermediaries.Bitcoins are not issued or backed by any governments or banks, and Bitcoin is not considered to be legal tender, although they do have status as an acknowledged transfer of value in some jurisdictions. Rather than composing a physical currency, Bitcoins are pieces of code that can be sent and received across a kind of distributed ledger network called a blockchain. Transactions on the Bitcoin network are confirmed by a network of computers (or nodes) that solve a series of complex equations. This process is called mining. In exchange for mining, the computers receive rewards in the form of new Bitcoins. Mining grows increasingly difficult over time, and the rewards get smaller and smaller. There is a total of 21 million Bitcoins. As of May 2020, there are 18.3 million Bitcoins in circulation. This number changes approximately every 10 minutes when new blocks are mined. Presently, each new block adds 12.5 bitcoins into circulation.Since its inception, Bitcoin has remained the most popular and largest cryptocurrency in terms of market cap in the world. Bitcoin’s popularity has contributed significantly to the release of thousands of other cryptocurrencies, called “altcoins.” While the crypto market was originally hegemonic, today’s landscape features countless altcoins.Bitcoin ControversyBitcoin has been extremely controversial since its original launch. Given its mercurial nature, Bitcoin has been criticized for its use in illegal transactions and money laundering.As its impossible to trace, these attributes make Bitcoin the ideal vehicle for illicit behavior. Moreover, critics point to its high electricity consumption for mining, rampant price volatility, and thefts from exchanges. Bitcoin has been seen as a speculative bubble given its lack of oversight. The crypto has weathered multiple collapses and survived over a decade so far. Unlike its launch back in 2009, Bitcoin today is viewed far differently and is much more accepted by merchants and other entities.
Bitcoin is the world’s first digital currency that was created in 2009 by a mysterious entity named Satoshi Nakamoto. As a digital currency or cryptocurrency, Bitcoin operates without a central bank or single administrator. Instead, Bitcoin can be sent via a Peer-to-Peer (P2P) networking, devoid of intermediaries.Bitcoins are not issued or backed by any governments or banks, and Bitcoin is not considered to be legal tender, although they do have status as an acknowledged transfer of value in some jurisdictions. Rather than composing a physical currency, Bitcoins are pieces of code that can be sent and received across a kind of distributed ledger network called a blockchain. Transactions on the Bitcoin network are confirmed by a network of computers (or nodes) that solve a series of complex equations. This process is called mining. In exchange for mining, the computers receive rewards in the form of new Bitcoins. Mining grows increasingly difficult over time, and the rewards get smaller and smaller. There is a total of 21 million Bitcoins. As of May 2020, there are 18.3 million Bitcoins in circulation. This number changes approximately every 10 minutes when new blocks are mined. Presently, each new block adds 12.5 bitcoins into circulation.Since its inception, Bitcoin has remained the most popular and largest cryptocurrency in terms of market cap in the world. Bitcoin’s popularity has contributed significantly to the release of thousands of other cryptocurrencies, called “altcoins.” While the crypto market was originally hegemonic, today’s landscape features countless altcoins.Bitcoin ControversyBitcoin has been extremely controversial since its original launch. Given its mercurial nature, Bitcoin has been criticized for its use in illegal transactions and money laundering.As its impossible to trace, these attributes make Bitcoin the ideal vehicle for illicit behavior. Moreover, critics point to its high electricity consumption for mining, rampant price volatility, and thefts from exchanges. Bitcoin has been seen as a speculative bubble given its lack of oversight. The crypto has weathered multiple collapses and survived over a decade so far. Unlike its launch back in 2009, Bitcoin today is viewed far differently and is much more accepted by merchants and other entities. Read this Term network and make it suitable for making small and instant payments. However, the majority of the crypto industry is yet to adopt the supplementary technology.
Meanwhile, Bottlepay is focused on building an instant payment network and is allowing users to make payments in Bitcoin, pound sterling and euro.
“We are incredibly proud of what the Bottlepay team has accomplished,” said NYDIG President, Yan Zhao. “Securing FCA registration is a breakthrough event and is a testament to NYDIG’s and Bottlepay’s commitment to compliance. Together with Bottlepay, we will continue to work hard to make the Bitcoin network accessible to all.”
The FCA mandated the registration of all cryptocurrency platforms operating in the United Kingdom last year. Though the initial deadline was short, the regulator extended it until March 2022 due to the massive backlog on its part to review the submitted applications. So far only a handful of crypto companies have gained the FCA’s nod, but interestingly dozens of companies withdrew their applications, meaning they do not want to offer their services in the British market.
Ethereum fell to $2,930 before correcting higher against the US Dollar. ETH price is rising and a close above $3,200 could spark a strong recovery.
Ethereum extended decline and broke the $3,000 support zone.
The price is trading below $3,200 and the 100 hourly simple moving average.
There was a break above a major bearish trend line with resistance near $3,110 on the hourly chart of ETH/USD (data feed via Kraken).
The pair could start a major recovery wave if there is a close above $3,200.
Ethereum Price Eyes Steady Recovery
Ethereum failed to climb above $3,200 and extended its decline. ETH declined below the $3,050 and $3,000 support levels to move further into a bearish zone.
The price spiked towards $2,920 and traded as low as $2,931. Recently, there was a sharp upside correction above the $3,000 and $3,050 levels. Besides, there was a break above a major bearish trend line with resistance near $3,110 on the hourly chart of ETH/USD.
Ether price settled above the 61.8% Fib retracement level of the downward move from the $3,210 swing high to $2,931 low. It is now consolidating above the $3,100 level.
On the upside, an immediate resistance is near the $3,145 level. It is near the 76.4% Fib retracement level of the downward move from the $3,210 swing high to $2,931 low. The next major resistance is near the $3,200 level and the 100 hourly simple moving average.
Source: ETHUSD on TradingView.com
A clear upside break above the $3,200 level could spark a decent recovery wave. The next key resistance is near the $3,300 level. Any more gains could send the price towards the $3,420 level in the near term.
Fresh Decline in ETH?
If ethereum fails to start a fresh increase above the $3,200 level, it could start another decline. An initial support on the downside is near the $3,060 level.
The first key support is now forming near the $3,000 level. A downside break below the $3,000 level might put a lot of pressure on the bulls. In the stated case, there is a risk of a new monthly low below the $2,931 level.
Technical Indicators
Hourly MACD – The MACD for ETH/USD is slowly losing pace in the bullish zone.
Hourly RSI – The RSI for ETH/USD is above the 50 level.
Monday marked the start of the TotalEnergies Africa Cup of Nations tournament — the largest men’s football championship series in Africa. At the same time, Binance announced its official partnership with the Confederation of African Football as well as its official sponsorship for the AFCON 2021 tournament, becoming the first crypto and blockchain sponsor for the event.
Through this sponsorship, Binance will also be promoting CAF’s social media content which will include the Assist of the Day, Assist of the Week and Assist of the Tournament. This content will cover games from five cities in Cameroon across all six venues.
Veron Mosengo-Omba, the General Secretary for the CAF, was “delighted to welcome Binance as an official sponsor of the AFCON tournament this year.” Mosengo-Omba said that he is optimistic that this partnership will “push African football to a new level.”
AFCON 2021 marks the start of the African sports calendar and will continue until Feb 6.
Binance’s partnership with CAF is a part of an ongoing campaign to provide financial services to Africans who they say would normally have very limited access to banks and other financial institutions. So far, Binance says it has already given over 541,000 Africans access to free classes on crypto.
Binance Director for Africa Emmanuel Babalola stated: “Football is the most popular sport in Africa.” He said that they hope this sponsorship will further “corroborate our mission to take crypto mainstream across the continent.”
We’re often asked a version of this question: “What’s it really like to work at Coinbase?”
Our culture doc provides a great overall perspective on working here, but I think it’s important to address this question head-on, too.
The bottom line: We work incredibly hard at Coinbase — for most of us, Coinbase is the most intense place we’ve ever worked. That intensity is only magnified by the current moment in crypto, and it often results in long days and long weeks.
However, because of that intensity, we’re also deliberate about finding time to recover between sprints. How deliberate? This year, we’re experimenting with four recharge weeks (roughly one per quarter), when nearly the entire company will shut down so we can all enjoy downtime without work piling up.
Four weeks of coordinated recharge time might sound like a lot of time off for a company in hypergrowth, but given the intensity of our work throughout the year, we think this is the best way to ensure our pace is sustainable for the long term.
We know this approach wouldn’t work for every company, and we also know Coinbase isn’t for everyone. But if you want to work at the cutting edge of crypto and tech — and if you’re excited about pushing your skills to the limit while knowing you’ll have regular opportunities to recharge — there’s no better place to be.
An all-in environment
Why is Coinbase so intense? Because the massive opportunity in front of us demands the best from each of us, every day.
We’re upfront about this in our culture doc, but it’s worth emphasizing: “We are a winning team, not a family, and have high expectations for performance and delivering results…. We have an intense work culture, and are regularly pushed out of our comfort zones.”
What’s this mean in practice?
It means we don’t promise 9 a.m. — 5 p.m. hours or 40-hour work weeks — many days and weeks are long, because that’s what it takes to get the job done.
It means we can’t simply do more in some areas by doing less in others — the risk of missing out on a huge opportunity is too great.
It means we aren’t wedded to long-term plans — yes, we thoughtfully map out quarterly and annual plans, but we’re prepared to pivot at a moment’s notice if we see a better opportunity to serve our customers.
We’re laser-focused on achieving our mission of increasing economic freedom in the world, and we encourage our teams to set “uncomfortably ambitious” goals. That’s the only way we can stay ahead.
An ‘act like an owner’ mentality
One of our cultural tenets is “act like an owner.” We expect our employees to take 100% responsibility for achieving our mission, but we also empower them to work in the way that’s best for them, and to rest and recharge between their sprints.
We do this in part through our remote-first stance, which enables almost all employees to choose whether to work from an office, from home, or through a hybrid approach — whatever works best for them and their families. This policy has been hugely successful, enabling us to hire top talent from around the world and earning positive reviews from our employees.
We also empower employees to take charge of their well-being through our flexible time off (FTO) policy (in eligible countries), which means most employees don’t need to accrue time off before using it or worry about hitting an annual limit.
Despite our FTO policy for most employees, we realized in 2020 that many employees weren’t taking enough time off to recharge, either because they didn’t want to force their teammates to cover for them or because they didn’t want to fall behind on their work.
We knew this was unsustainable, so we scheduled a recharge week at the end of 2020 and two recharge weeks in 2021, when nearly the entire company would shut down. (Teams with critical 24/7 responsibilities, such as customer service and security, scheduled alternate recharge weeks.)
Subsequent employee surveys made it clear: recharge weeks work. In fact, 52% of employees said recharge days and weeks were the primary tool that helped them rest and recover in 2021.
That feedback — and our expectation that this year will be just as intense as last year — prompted us to schedule four recharge weeks for 2022, roughly one per quarter. We have no expectation we’ll continue with four recharge weeks beyond 2022 — we’ll evaluate as we go — but we’re confident this is the right approach for us this year.
Even though we’ve scheduled four recharge weeks for 2022, we didn’t make any changes to our FTO policy — we’ve encouraged employees to schedule vacations during our recharge weeks when they can, but we know that’s not always possible, and that’s OK.
We also know that, despite our best intentions, there are times when some employees need to work through a recharge week. When this happens, we do our best to make it up to them so they have dedicated time to recharge, too. We’re OK with this tradeoff — we prefer to implement a solution that regularly works for 90% of employees than to endlessly search for an elusive “perfect” solution.
Acting like an owner truly is key to success at Coinbase — our top performers take recharge seriously, but they also don’t hesitate to jump in and deliver for the company whenever and however is needed.
A once-in-a-career opportunity — and we’re hiring
There’s no denying that Coinbase is one of the most exciting places to work right now.
In just the last 12 months, we’ve tripled our headcount, expanded into new markets, brought new crypto innovations to our customers and become a publicly traded company — and we still feel we’re just getting started.
As we say in our culture doc, “We are optimistic about the future and determined to get there.”
If you share that optimism, and if my description of working at Coinbase resonates with you, take a look at our Careers page — we’re hiring for hundreds of roles in dozens of fields, and we want exceptional people in every seat, working together towards our mission.
Working at Coinbase: Intense and demanding, balanced by deliberate recharge time was originally published in The Coinbase Blog on Medium, where people are continuing the conversation by highlighting and responding to this story.
Since the start of 2022, the crypto market cap has been shrinking. Bitcoin is leading the latest market dump. The crypto asset lost nearly 20% of its value in the last 10 days as its market cap dipped below $800 billion.
Bitcoin is not the only digital asset facing a market correction these days. Ethereum’s performance is even worst. ETH plunged heavily over the weekend and reached a low of $3,035 on Saturday. The digital asset has lost almost a quarter of its value since the start of 2022.
Crypto analysts across the market called the correction a natural portfolio adjustment after a substantial bullish rally in 2021. However, some short-term investors are worried about Bitcoin’s lackluster network activity this year.
“With one week of 2022 in the books, crypto market caps have been shrinking quite rapidly. Whale behaviors and on-chain fundamentals haven’t been looking so hot. But during these times, it’s often easy to forget that social sentiment plays a major role in how and when things will turn around,” Santiment noted in its report.
Bitcoin and Institutions
2021 was a remarkable year for Bitcoin in terms of institutional adoption. With technology giants like Tesla announcing multi-billion dollar investment in the crypto asset, existing BTC holders increased their crypto holdings. In 2022, leading crypto investors are optimistic about the wider adoption of Bitcoin. In a discussion with CNBC last week, Mike Novogratz, CEO of Galaxy Digital, said that many institutions are planning to add Bitcoin to their balance sheets.
“We see a tremendous amount of institutional demand on the sidelines. I’m not nervous in the medium-term. I know big institutions that are going through their process to put positions on. They’re going to see those as attractive levels to buy. On the charts, $38,000, $40,000 feel like where we should bottom,” Novogratz explained.
Since the start of 2022, the crypto market cap has been shrinking. Bitcoin is leading the latest market dump. The crypto asset lost nearly 20% of its value in the last 10 days as its market cap dipped below $800 billion.
Bitcoin is not the only digital asset facing a market correction these days. Ethereum’s performance is even worst. ETH plunged heavily over the weekend and reached a low of $3,035 on Saturday. The digital asset has lost almost a quarter of its value since the start of 2022.
Crypto analysts across the market called the correction a natural portfolio adjustment after a substantial bullish rally in 2021. However, some short-term investors are worried about Bitcoin’s lackluster network activity this year.
“With one week of 2022 in the books, crypto market caps have been shrinking quite rapidly. Whale behaviors and on-chain fundamentals haven’t been looking so hot. But during these times, it’s often easy to forget that social sentiment plays a major role in how and when things will turn around,” Santiment noted in its report.
Bitcoin and Institutions
2021 was a remarkable year for Bitcoin in terms of institutional adoption. With technology giants like Tesla announcing multi-billion dollar investment in the crypto asset, existing BTC holders increased their crypto holdings. In 2022, leading crypto investors are optimistic about the wider adoption of Bitcoin. In a discussion with CNBC last week, Mike Novogratz, CEO of Galaxy Digital, said that many institutions are planning to add Bitcoin to their balance sheets.
“We see a tremendous amount of institutional demand on the sidelines. I’m not nervous in the medium-term. I know big institutions that are going through their process to put positions on. They’re going to see those as attractive levels to buy. On the charts, $38,000, $40,000 feel like where we should bottom,” Novogratz explained.
Once reserved for the pros in the crypto space, staking has become a common practice across all participants in the space. Today, anyone has an opportunity to earn passive income on their crypto assets in just a few clicks, whether on a centralized exchange or DEX. Over the past two years, centralized exchanges such as Binance and Coinbase have introduced staking to their users, compelling decentralized exchanges, or DEXs, to follow suit.
At the height of the DeFi boom in 2021, over $110 billion in value was locked on decentralized platforms as staking became one of the most lucrative ways to earn passive income and relish returns on investment. On January 3, 2022, Ethereum 2.0 crossed the $34 billion mark in total value staked, showing a possible continuation of the explosive growth this year. Despite the growth, many platforms only offered staking rewards as the only viable passive income strategy for their users. One DEX, Hashbon, aims to change this by adding a reward system that complements staking with them – the staking referral program.
Hashbon, one of the first cross-chain DEXs, announced the launch of their own staking program, “Hashbon Rocket”, last December to give HASH holders an opportunity to earn the highest possible APY and APR among all the available staking opportunities. Midway through the month, the ‘Hashbon Rocket Staking Referral Program’ launched, providing all HASH holders with an additional revenue stream.
Hashbon DEX launches its Staking Referral Program
Following a wonderful reception to the staking program in the past month, Hashbon DEX extended its earning possibilities through the first-of-its-kind staking referral program. The Hashbon Staking Referral Program allows people to invite their friends and family to the platform and earn 10% of their friends’ staking earnings. According to a statement, every HASH staker can simply share their referral link with their friends and family and earn 10% of the rewards the referral makes during staking.
Hashbon offers users a fast, secure, and cheap platform to swap tokens across multiple networks, supporting newbies in their journey into decentralized finance (DeFi). Apart from staking and DEX, Hashbon also offers users a payment gateway that will let merchants accept payments in over 30 cryptocurrencies with 0% commission. The latest referral program joins a host of earning programs on the platform including being an arbiter for Hashbon Rocket, who votes for the transactions.
Unlike other staking platforms, Hashbon offers both ERC20 and BEP20 token staking. Users can stake their HASH tokens on Unifarm or the BSC chain to receive their rewards. The longer the staking period, the higher the APR. According to the company’s statement, any user barring U.S. citizens can participate in the staking or referral programs. The platform’s smart contract and token code are audited by CertiK to protect them from manipulation or hacks, which could lead to the loss of users’ funds.
Why referrals should be a thing in crypto staking programs
As explained above, referrals look to be the next big breakout in the crypto staking space. With every project offering “high APRs”, referral programs give a standout appeal to new users, while being the most effective way to generate leads to the projects. According to Forbes, referrals is the most efficient marketing and sale tactic that generates the highest ROI.
As the crypto staking field grows by the day, rewarding users with referral bonuses could be a sure way to grow your community. According to Grigory Bibaev, CEO and Founder of Hashbon, referrals are key to the growth of the DEX, staking program, and payment gateway. Finally, the platform aims to “satisfy the community’s CeFi and DeFi cravings” by offering new rewarding opportunities for every user joining the platform, Bibaev added.
