Tag: High

Binance and Crypto.com Announce Support for Two Ethereum-Based Altcoins As Kraken Adds Terra (LUNA)

by Dailyhodl

Three of the top crypto exchanges are adding a litany of new coins for trading, sending prices on a volatile roller coaster ride.

In a new announcement, Binance says they are listing metaverse altcoin Highstreet (HIGH) for open trading.

According to Binance Research,

“Highstreet is an open-world metaverse that incorporates shopping, gaming, NFTs [non-fungible tokens], traditional and crypto brands in an MMORPG [massively multiplayer online role-playing game] game. 

Users can play-to-earn by completing quests, attending social events, socializing with players, shopping for NFTs from real-world brands.”

Highstreet’s native governance and utility token HIGH has seen highs and lows since the announcement. The listing sent HIGH’s value from $23.99 to an all-time high (ATH) of $38.42 in a matter of hours, a 60% increase.

However, HIGH has since heavily corrected and is currently trading at $19.66, a 48% decrease from HIGH’s ATH.

Similarly, Singapore-based exchange Crypto.com announced support for gaming studio and NFT marketplace platform Vulcan Forged PYR (PYR). According to the announcement,

“Vulcan Forged is a blockchain game studio and NFT marketplace. Its utility token, PYR, is an ERC-20 token with close to zero gas fees involved in its use. 

The primary use for PYR will be as a form of currency in the Vulcan Forged marketplace. Vulcan Forged aims to revolutionize the play-to-earn concept in gaming, where PYR can be earned just by playing the studio’s many DApps. 

PYR powers the entire Vulcan Forged DApp ecosystem and can be used as a settlement, staking, and gaming utility token.”

PYR has ridden the ups and downs of price volatility since the announcement.

First, PYR’s price increased 6.9% from $20.56 to $21.97 before dropping 4.5% to $20.98.

From there, the altcoin’s price jumped back up 3.9% to $21.80 before dropping 5.6% back down to $20.56. PYR has since leveled out and is currently trading at $21.43, down 5% over the last 24 hours.

Finally, top US-based exchange Kraken got in on the altcoin action, adding popular Ethereum-competitor Terra (LUNA) for open trading. According to a Kraken blog post, the layer-1 smart contract platform,

“… is a protocol for algorithmic stablecoins that aims to rebuild legacy financial rails in a decentralized environment. 

It ​​blends the price stability of fiat currencies with the censorship-resistance of cryptocurrencies to offer fast and affordable settlements.”

LUNA has enjoyed positive price action since Kraken’s announcement, jumping 9.2% from $61.64 to $67.32 in a matter of hours. LUNA is currently trading at $67.32, up 2% over the last 24 hours.

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Featured Image: Shutterstock/Tithi Luadthong

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Binance hits record high of $80B in daily volume as crypto markets surge

by Cointelegraph

Changpeng Zhao, the chief executive of Binance, the world’s largest crypto exchange by trade volume, reported a record of $80 billion in 24-hour trade activity on Jan. 4.

On Twitter, CZ compared the recent activity to the volume posted during the last record-breaking bull cycle, noting that the past day of trade equates to four-time the volume processed on the exchange from Nov. 15, 2017 to Dec. 15, 2017.

In the 24 hours preceding CZ’s tweet, Binance’s spot volume exceeded $23.6 billion, while its derivatives represented nearly $57 billion in trade.

Despite the milestone, CZ acknowledged the platform had experienced disruptions amid the record volume, stating:

“We saw some scaling issues today. We probably will see more issues as we continue to grow. We aren’t perfect, but we will fix them as quickly as we can.”

However, in addition to the unprecedented trade activity, Jan. 4 also saw Binance process a record $190 million in liquidations over 10 minutes as BTC quickly crashed below $30,000.

On the same day, Sam Bankman-Fried, the CEO and founder of crypto derivatives exchange FTX, reported that his exchange had processed more than $10 billion of the $180 billion in volume produced by the sector’s five-largest exchanges that day.

Binance’s record volume comes as Bitcoin consolidates above $30,000 after gaining more than 50% over its previous all-time high, and Ethereum has reclaimed four-figure prices for the first time since January 2018.

The spoils of the rally appear to be flowing into the DeFi sector, with the USD total value locked, or TVL, on decentralized finance protocols smashing records, from $12.5 billion at the start of December to currently sit at nearly $18 billion.

However the number of BTC locked in DeFi has fallen from an all-time high of 65,000 as of late October to less than 25,000 today, while locked ETH has fallen from almost nine million as of mid-November to 6.8 million today.

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Ripple Price Analysis: Following Long Consolidation, Can XRP Retest 2020 High At $0.78?

by CryptoPotato

XRP/USD: Ripple Waiting For Next Move

Key Resistance Levels: $0.6, $0.678, $0.78

Key Support Levels: $0.50, $0.437, $0.33

xrpusd_chart
XRP/USD. Source: TradingView

After breaking out of a crucial resistance on Wednesday, Ripple touched $0.68 and pulled back to where it’s now consolidating at $0.577. Volatility is low at the moment but it could resume its bullish momentum as soon as it finds key support. While the market remains indecisive, it has still gained 12% in the past week.

Considering the mid-week breakout, the market seems likely to go in favor of the bulls. For this to happen, though, the buying volume needs to increase a lot compared to its current levels.

XRP-USD: Resistance and Support Levels

As we wait for the next major movement, the important level to watch is the $0.6 resistance. This is followed by $0.678 and $0.78 resistance levels in the next few days as the latter is also the yearly high.

In the opposite direction, XRP is looking for support on the RSI 50 level and the MACD zero level. If these indicators fail to hold, there’s support at the $0.50 level. Support to watch below this is $0.437, which is inside the green demand zone. Below it lies the $.33 breakout level from November.

XRP/BTC: Ripple Yet To Find Major Rebound

Key Resistance Levels: 2818 SAT, 3600 SAT, 4200 SAT

Key Support Levels: 2000 SAT, 1800 SAT, 1500 SAT

xrpbtc_chart
XRP/BTC. Source: TradingView

As Bitcoin’s price continued to increase (to a new high of $24200 yesterday), Ripple is yet to find a major rebound level after a three-week correction. The price is trading slightly above a crucial support level of 2400 SAT at the moment. While the trend remains in favor of the bears, the bulls keep struggling to step back in the market.

But looking at the market from a technical standpoint, positive actions could be anticipated if this support level can produce a rebound. If not, the third-largest coin by market cap could witness another selloff. Currently, the price is down by roughly 2% against Bitcoin.

XRP-BTC: Resistance and Support Levels

If this coin manages to bounce back above the above support, the immediate resistance to keep in mind is 2818 SAT. After this, further resistance is found at the 3600 SAT level, followed by 4200 SAT – where it initiated the pull back last month.

However, a drop below 2400 SAT may cause more pain. Below the long-term descending line, there’s a support at 2000 SAT. The next support lies at 1800 SAT and 1500 SAT.

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Cryptocurrency charts by TradingView.





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