Crypto News 12/18: Bitcoin battles XRP, ETH, LINK, BCH, NFT, Polkadot, Sologenic News to end the year at $ 50,000
From Bitcoin’s attempt to reclaim a $ 50,000 psychological mark to a 200 million token Sologenic Airdrop for XRP and SOLO holders, these are some of the major news in the crypto space.
The selling pressure that Wall Street experienced on Thursday has put pressure on the cryptocurrency as Bitcoin again threatens to lose support at the $ 47,000 level. However, the digital currency managed to close above that price, while the rest of the altcoins did better.
Source: TradingView
Edward Moya, Senior Market Analyst at Oanda, wrote in a note to clients:
“Bitcoin and big tech stocks have suffered as investors have made some of the most risky bets in their favor. The crypto space is undergoing many changes, creating unwanted selling pressure, but the medium to long term remains strong. ”
Craig Earlam, an analyst at Oanda, commented:
“Bitcoin is still moving in a trading range after another turbulent week for the market. On the one hand, the trend is very opposed, but it sees strong support at $ 47,000, so this price is unlikely to be abandoned.
The bulls are clearly trying to pull the bitcoin price out of the current trend. Many were hoping for a six-figure amount by the end of the year. However, it looks like they are now hoping for half the price ($ 50,000). ”
With Bitcoin already 33% below its all-time high in November, the crypto king is under no threat as the downtrend shows bear claws are on the horizon in the short term. However, nothing has changed in the technical landscape of Bitcoin over the past few sessions. Bitcoin has support near last week’s low ($ 47,215) and is meeting resistance near last week’s high ($ 52,195).
Other experts also warn that as long as the price stays above $ 46,000, where the 200-day moving average sits, there is hope for a short-term rally to $ 55,000 if buyers react to the signals. Price momentum is starting to turn positive on the daily chart for the first time since October, when these signals heralded a price rally. However, this time the uptrend on the weekly chart has slowed down, which means that the uptrend may be capped before it surpasses $ 55,000-60,000.
XRP News
Whale Alert reports that a staggering 718.3 million XRP has been transferred from Ripple, Binance and two other digital exchanges in the past 24 hours.
More than half of them were sent by Ripple Labs, including 460,669,182 and 120,000,000 XRP. The total value of tokens increased to 585,946,261 USD.
The transfer was made from the same Ripple wallet rLzoWkN8Rc1MV5rs8rAfo5uTREJ1A3Z9ak, which was empty after the transfer. The money was sent to different addresses in the company.
Source: Twitter
Three other impressive XRP transactions were discovered by Whale Alert before Ripple.
Binance has moved 80 million XRP between its wallets.
The anonymous wallet transferred 20 million XRP to Bitso, the leading exchange in Mexico, as well as the Ripple ODL corridor. Bitso also transferred 17.7 million XRP internally.
Another Bittrex transaction delivered 20 million XRP to another Ripple ODL corridor – Bitstamp, located in Luxembourg.
Source: Twitter
Polkadot news
The five parachains that won the first auction were launched on Polkadot and are now in block production, paving the way for an interoperable ecosystem.
Polkadot has been holding auctions for the placement of parachains from 11.11. Five winning projects in the first auction: Acala, Moonbeam, Parallel Finance, Astar and Clover – high-performance projects focused on Defi, interconnection and other use cases. At the moment, each project has its own lease until October 20, 2023.
Source: polkadot.js.org
To improve interoperability, Polkadot provides protocol layer interworking and natively secures layer 1 parachains through a process known as shared security.
“The Parachain model was developed with the belief that the future of Web3 will have many different types of blockchains working together. Just as the current version of the Internet caters to different needs, blockchains should be able to provide different services. Parachain solves this problem. ”
Solo news
The crypto investment platform is launching a $ 1 billion airdrop for holders of XRP and its own protocol token.
Sologenic (SOLO), an XRP Ledger (XRPL) ecosystem that tokenizes various assets of traditional financial markets, is launching a new decentralized NFT trading platform on XRPL.
Sologenic is channeling 200 million SOLO to investors who already own SOLO or XRP to develop the new market ecosystem, according to a new statement from the company.
SOLO is currently trading at $ 4.6, which means the entire drop will be worth $ 920 million at time of publication.
Source: TradingView
To receive a free SOLO, investors must keep their SOLO and / or XRP on central exchanges that support Airdrop, or create a “trust line” from their own wallet for Sologenic.
The airdrop snapshot will be on December 24th. and Sologenic will split 100 million SOLO between their respective XRP and SOLO accounts. Trust line investors will receive their tokens on January 20th.
NFT News
Despite technical difficulties, the Adidas ORIGINALS: Into the Metaverse NFT boots sold out immediately after their release today. The collection of the iconic fashion brand includes 30,000 NFT, 0.2 ETH each. Revenue amounted to USD 23 million (6,000 ETH).
The Adidas collection was created in collaboration with three well-known players in the field: Bored Ape Yacht Club, Punks Comic and gmoney.
NFT holders receive both physical and digital privileges. Physically, owners will have access to physical merchandise in 2022 – the “iconic adicolor Firebird tracksuit,” the “graphic hoodie,” and the “classic orange gmoneys hat.” Hodlers can digitally participate in virtual events in the Metaverse until 2022 and beyond.
ETH, LINK, BCH news
Ripple’s main partner in Japan, SBI Group, is announcing that they are launching the SBI Crypto Fund to allow ordinary investors to hoard XRP, Bitcoin, Ethereum, LINK, Bitcoin Cash and Polkadot.
The crypto fund is operated by SBI Alternative Fund GK. Investors must sign an anonymous partnership agreement with SBI Alternative Fund before purchasing cryptocurrency from a fund.
The minimum investment must be 5 million yen or more, but in units of 1 million yen. In addition, the investment contract cannot be terminated within one year, and a commission will be charged for any cryptocurrency purchases from the fund.
