Bitcoin Recaptures the 50-day MA as Twitter Sentiment Turns Bullish

Bitcoin Recaptures the 50-day MA as Twitter Sentiment Turns Bullish 6
  • Bitcoin seems to have recaptured the 50-day moving average as support
  • Bitcoin is now firmly above the $34k price area, trading at the $34,720 at the time of writing
  • Bitcoin’s weekly close tonight will provide more information as to whether its bullish trajectory can be sustained
  • Twitter sentiment surrounding Bitcoin has returned to bullish territory and could have entered a slight FOMO phase

Bitcoin (BTC) has continued on its bullish climb for a fifth straight day after the local low of $29,278 set on Tuesday, July 20th. The King of Crypto is currently trading at $34,724 and above the 50-day moving average as highlighted in the following daily BTC/USDT chart.

Bitcoin Recaptures the 50-day MA as Twitter Sentiment Turns Bullish 4

From the chart above, it can be observed that the daily trade volume confirms Bitcoin’s bullish climb in the last 5 days. In addition, the daily MACD has crossed in a bullish manner below the baseline, with its histograms confirming BTC’s bullish momentum. The daily MFI and RSI are in neutral territory at values of 44 and 56 thus hinting of a likely continuation of Bitcoin’s trajectory to higher levels.

With respect to potential short-term resistances, Bitcoin has the following price levels ahead of its path, at least till $36k.

  • $34,800
  • $35,000
  • $35,350
  • $35,500
  • $35,700
  • $36,000

Also worth mentioning is that Bitcoin’s weekly close is only hours away and a close above the 50-day moving average will cement BTC’s current bullish path towards higher levels.

Bitcoin’s Twitter Sentiment Turns Bullish

Bitcoin’s current market momentum in the crypto markets is further confirmed by its Twitter sentiment flipping back to bullish territory. According to the team at Santiment Feed, the current Twitter sentiment surrounding Bitcoin has reached levels of potential FOMO as explained in the following statement and accompanying chart.

The #Bitcoin crowd on Twitter has become #bullish once again toward the #1 market cap crypto asset. With $BTC‘s +6.6% 24-hour rise and 12-day price high to above $34.4k, commentary is showing levels of FOMO that haven’t been seen in 6 weeks.

Bitcoin Recaptures the 50-day MA as Twitter Sentiment Turns Bullish 5

Bitcoin Spikes to 18-Day High, Crypto Market Cap Nears $1.5 Trillion (Market Watch)

The bulls have resumed control over the market in the past few days and have pushed bitcoin to a near three-week high at almost $35,000. The alternative coins have also benefited from these developments, with ETH closing down to $2,200 and DOGE sitting at $0.20.

Bitcoin Taps an 18-Day High

Ever since bitcoin bottomed at $29,200 on July 20th, the cryptocurrency has been on a roll. It bounced off immediately and reclaimed $30,000 in just a few hours.

Shortly after, more positive news from Elon Musk and Jack Dorsey emerged, which propelled significant gains in a relatively short period. The bulls kept on pushing north, and BTC added 15% of USD value in less than five days, as reported yesterday.

However, bitcoin’s leg up was not over yet, and it jumped further upwards to about $34,800 (on Bitstamp). This became the asset’s highest price line since July 7th.

As such, BTC’s market capitalization has increased above $650 billion after dumping below $600 billion earlier this week. Its dominance over the altcoins has also risen slightly to just over 46%.

BTCUSD. Source: TradingView
BTCUSD. Source: TradingView

Altcoins See Green; ETH Tapped $2.2K

Similarly to their leader, the alts have also performed well since Tuesday. Ethereum went as low as $1,720 but has added roughly $500 of USD value since then and earlier today touched $2,200. Despite retracing slightly, the second-largest cryptocurrency is still about 2% up on the day.

Binance Coin is also in the green, although not as impressive as ETH’s increase. Nevertheless, BNB has still reclaimed $300 and currently stands above it.

On a 24-hour scale, Cardano (1.5%), Dogecoin (2.5%), and Polkadot (2.5%) have charted gains as well. In contrast, Uniswap, Bitcoin Cash, Solana, and Litecoin have stalled.

Cryptocurrency Market Overview. Source: Quantify Crypto
Cryptocurrency Market Overview. Source: Quantify Crypto


ICP is the most significant gainer from the top 100 with a near 30% surge. As a result, it trades at around $45. Telcoin (15%), THETA (15%), Theta Fuel (14%), Revain (13%), Quant (12%), and Helium (10%) follow suit.

Ultimately, the cumulative market capitalization has added more than $200 billion since the low earlier this week and is close to $1.5 trillion.

Top Crypto Trader Says He’s Closely Watching These Areas of Interest for Bitcoin, Marks Key Resistance for BTC

A top crypto trader is discussing the key levels Bitcoin must conquer to signal a true recovery.

In a new series of tweets, the crypto analyst known in the industry as Altcoin Psycho says that he is wary of Bitcoin’s recovery this weekend – even as Bitcoin surpasses $34,000 on Saturday.


“No need to overcomplicate things here. People prefer clout over profit so they’re trying to play fortune teller and predict the bottom. Let’s reclaim $36,000 and change market structure first, then I’ll be excited. Everything else is just emotion and noise.”

Source: Altcoin Psycho

Altcoin Psycho says he is also watching the levels at which Bitcoin opened and closed on the weekly and daily charts. The trader is focusing on Monday’s low near $30,400, Monday’s high of $31,850 and the previous weekly low of $31,050.


“Black arrows on my chart are areas of interest:

1) Untapped H4 zone we just broke out of

2) Previously weekly high

3) Monthly open

Will be watching reactions at those areas closely. Just remember, price needs to clear [$36,000] before celebrating.”

Source: Altcoin Psycho

Although Altcoin Psycho is not fully convinced of Bitcoin’s latest rally, he believes that the crypto market is unlikely to enter a bear market given the amount of attention it’s receiving.

“There’s not [a] doubt in my mind that there’s too much money coming in for crypto to just go in a multi year bear market. But how about we reclaim a few key levels before breaking out the bull tweets yea?”

Source: Altcoin Psycho

Fellow crypto analyst Dave the Wave appears to be betting on an end-of-year recovery for Bitcoin as the flagship cryptocurrency hits the bottom level of the moving average convergence/divergence indicator (MACD).

“MACD has pretty much met the first level now. The lower level and turn around at the end of this year?”

Source: Dave the Wave

At time of writing Bitcoin is trading at $34,148, doing battle with the $34,000 level.

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Disclaimer: Opinions expressed at The Daily Hodl are not investment advice. Investors should do their due diligence before making any high-risk investments in Bitcoin, cryptocurrency or digital assets. Please be advised that your transfers and trades are at your own risk, and any loses you may incur are your responsibility. The Daily Hodl does not recommend the buying or selling of any cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing.

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The post Top Crypto Trader Says He’s Closely Watching These Areas of Interest for Bitcoin, Marks Key Resistance for BTC appeared first on The Daily Hodl.

XRP Price Analysis: XRP Eyes $0.70 As Bulls Push Off Major Support

  • XRP price has revived 20% off its short term bottom at $0.50
  • XRP price just recently broke over a 60 day downtrend
  • The 200 MA continues to act as support

XRP price has been through a wild ride throughout the last 8 months as it fights for crypto regulation. The United States Securites & Exchange Commission continues to drag its feet on providing clear regulations to industry participants. It decided to go after Ripple in December of 2020 claiming it sold XRP as an unregistered security. The ongoing lawsuit has severely hurt and influenced the price of XRP. With multiple recent wins for Ripple, investors are anticipating a win soon enough.

Once this lawsuit is over, XRP can get back to its mission of facilitating cross-border transactions & potentially breaking its previous ATH. 

Just over the past few days, bulls have pushed XRP over its long term trend line which was holding the price down for over 2 months. This is a bullish sign as it is usually the first step to a trend change. As long as bulls can keep XRP over this trend line, we should expect prices to move near the $0.70 region fairly soon.

At the time of writing, price has been halted at a major resistance box found at $0.611-$0.634. Once bulls manage to clear this mark, XRP should start picking up speed. 

XRP Price Analysis: XRP/USDT 4 Hour Chart

Along with the resistance box that price is currently halted at, lies the 200 MA. Price has been stuck under this MA for over 60 days and once it is cleared, XRP will start heading back towards $1.00. If the bears decide to take over in the short term, we can expect XRP price to find support at $0.58. Along with this mark lies another support at $0.56 that price must stay above to continue in a bullish uptrend. Anything below this box will likely result in a hard downfall.

  • The RSI has continued to be halted at a resistance line which is found at 61. Strength has failed to hold above this mark for nearly 82 days. Once bulls manage to break & hold this line, XRP will experience a large bullish surge.
  • The MACD histogram has been ticking green for nearly 3 days. There is a slight bearish bias as the MA’s are about to cross bearish. If the MA’s decide to break below the 0 value, this may result in a short term pullback to XRP’s major support box.

XRP intraday levels 

  • Spot rate: $0.608
  • Trend: Short Term Bullish
  • Volatility: Medium
  • Support: $0.589
  • Resistance: $0.612

The post XRP Price Analysis: XRP Eyes $0.70 As Bulls Push Off Major Support appeared first on Coingape.

ADA Price Analysis: Cardano (ADA) Sets Out To Crack Falling Wedge Pattern

  • ADA price is up nearly 7% on the day
  • ADA Price is attempting to break through major resistance zone
  • RSI sits coiled in a bullish manner

Throughout the past few days, ADA price has experienced a decent revival as price has risen nearly 25% of lows. This is a great sign to see for the bulls, but compared to other coins in its class, price is lagging behind a bit. Although, Cardano price has printed enormous gains the last year, leading ahead of many other coins in the top 10. Once ADA clears its major resistance zone, price will be free for a large revival not seen in months. 

Even though we have covered this recently in past analysis, the current falling wedge ADA price has followed is an important mark to clear out of. This falling wedge is shown in light blue and it has held price together for over 2 months. At the time of writing, bulls are attempting to hold price above the top trend of this bullish pattern.

If ADA can continue to hold above the major resistance of $1.22 along with the top trend of the falling wedge, we can expect price to follow the given path. 

Cardano Price Analysis: ADA/USDT 4 Hour Chart

If bulls manage to clear over the major resistance zone, ADA must then break & hold the 200 MA which has held prices down for over a month. In the case that bears take over in the short term, expect ADA price to fall back into its falling wedge. This would be a short term bearish scenario which would likely land Cardano back to $1.15. If this support fails to hold, we should expect a sweep to minor support of $1.09.

While looking at the RSI, we can see a wedge type pattern has formed. A breakout to ether side of this pattern will likely have price following it. As long as strength continues to stay above the 50 value, higher prices should be seen soon.

The MACD has been in bullish territory for the last couple days. The histogram must stay green along with the MA’s above the 0 value for ADA to stay in a bullish position in the short term. 

ADA intraday levels 

  • Spot rate: $1.21
  • Trend: Short term bullish
  • Volatility: Medium
  • Support: $1.19
  • Resistance: $1.22

The post ADA Price Analysis: Cardano (ADA) Sets Out To Crack Falling Wedge Pattern appeared first on Coingape.

Three US States Going After BlockFi In Regulatory Crackdown

New Jersey, Texas, and Alabama have individual state regulators issuing concerns that New Jersey-based DeFi firm, BlockFi, is offering unregistered securities. Regulators seem to particularly point to BlockFi’s Interest Account (BIA), which offers rates that consumers are now becoming accustomed to in DeFi – but that have blown traditional banking rates out of the water.

The ‘Unusual Three’

Crypto in it’s relatively early emergence in discussions around regulation and broader adoption, has largely been considered a somewhat bipartisan topic. Which makes the three states going after BlockFi a particularly unusual trio. New Jersey, the company’s home state and traditionally a very Democratic-run state at that, is arguably the most aggressive of the three states making claims against the firm. New Jersey has ordered BlockFi to stop offering it’s BIA product to state residents by July 29 according to a recent cease and desist from the state’s Bureau of Securities.

Texas, a traditionally Republican-led state, has also issued a cease and desist with a hearing date currently set for October. The document also cites BIAs as a concern, stating that BlockFi “is, in part, illegally funding its lending operations and proprietary trading through the sale of unregistered securities in the form of cryptocurrency interest-earning accounts.”

Finally, we have another typically Republican-led state in Alabama issuing a ‘Show Cause Order‘ to BlockFi this past week. The company now has less than 30 days to show the state securities commission why they should not be issued a cease and desist for selling unregistered securities. The show cause document suggests that BIAs should be registered with applicable securities regulators.

It’s becoming pretty clear, at least in the case of BlockFi recently, that regulatory hurdles do not live on any particular side of the political aisle.

Bitcoin's can be deposited into BlockFi's BIA product to yield substantial interest-bearing returns.  | Source: BTC-USD on

Related Reading | Uniswap Limits Access To Certain Tokens, What It Could Mean For The DeFi Sector

Is DeFi In Trouble?

BlockFi issued a recent responding statement in a tweet that stated that the firm wholeheartedly believed that it’s BIAs were “lawful and appropriate for crypto market participants”, adding that the company welcomes “discussions with regulators and believe(s) that appropriate regulation of this industry is key to its future success.”

It’s difficult to say the impacts in such an early stage of aggressive regulatory attacks on DeFi, particularly given that of the major players in the yield-generating space, only BlockFi is being highlighted here. Will other states join these three, and will major BlockFi competitors start facing challenges as well? Or are these state regulators simply cracking a proverbial whip – or are there enough substantial differences in how BlockFi competitors, such as Nexo or Celsius, are funding their interest-bearing accounts that leave them absorbing less regulatory risk? Either way, it is becoming abundantly clear that crypto’s relatively quick mainstream success, paired with slow-moving federal decision making, will leave emerging firms – but hopefully not forward-thinking consumers – with some inherent challenges.

Related Reading | Tether To Conduct An Audit To Negate Claims Concerning Transparency

Featured image from Pixabay, Charts from

Tether To Conduct An Audit To Negate Claims Concerning Transparency

The Tether general counsel has declared an official audit in few months. USDT is a popular stablecoin occupying the third position in global digital assets. As it’s on blockchain that cybersecurity experts deem unhackable, the majority today trusts its security.

Related Reading | Cardano Aims To Facilitate Users With Smart Contracts

However, many people in the crypto community have been waiting for a financial audit of the stablecoin. Now, it seems that the ongoing regulatory issues in the crypto industry have galvanized the Tether team into action. As a result, they’re declaring that an audit will take place soon.

Tether Executives Grants Media Interview

Another rare incident is an interview in which the Tether CTO Paolo Arduino and Stu Hoegner, the general counsel, participated on CNBC.

During the interview, the hosts asked the duo some questions about USDT’s transparency and backing. In response, the general counsel stated that the team is working to be the first in their sector to get financial audits.

Tether To Conduct An Audit In Upcoming Months To Negate Claims Concerning Transparency

The crypto market has just turned bullish as the USDT trades in the green zone | Source: USDTUSD on

He also mentioned that the audits would come in months and not years. As for backing, he stated that the stablecoin is backed with reserves.

But Hoegner mentioned that some of the reserves are not US dollars. But the reserves are more US dollars plus other cash equivalents, secured loans, crypto assets, bonds, and others.

Related Reading | Anthony Di Lorio To Leave Cryptocurrency Space For Philanthropic Initiatives

However, in the Transparency report which Tether published, the market cap for USDT stands at $62 billion. Even though the number has increased by 195% since 2021 started, it is still behind competitors such as BUSD and USDC.

When Circle released a reserve report yesterday, July 21, it showed that 61% of the USDC reserves are cash & cash equivalent. The remaining 39% are in treasuries, bonds, and commercial paper accounts.

Taxes Decides To Attack

Paxos is a rival to Tether and recently attacked the stablecoin and Circle through its blog post on July 21, 2021. In the post, Paxos claims that the duo is not operating under financial regulators. In his words, both USDC and Tether are simply Stablecoins in name only.

Paxos disclosed that its stablecoin reserves are a combination of cash or cash equivalents to support its claims.

Related Reading | Ether EFT Gets Approval From Brazilian Securities Regulator

But in May, Tether disclosed the total backing that USDT has, which were cash 3.87%, fiduciary deposits 24.20%, treasury bills 2.94%, cash equivalents, commercial papers, which make up 65.39% plus others. This action was because the US lawmakers are closely scrutinizing its operations.

Also, Tether started submitting reports about its reserves after it reached a settlement agreement with the NY Attorney General’s Office 5 months ago. The firm has continued to send these reports since then.

Featured image from Pexels, chart from

3 reasons why Bitcoin price has not been able to rally back above $40K

Bitcoin bulls appear to be back, but a strengthening U.S. dollar, a new wave of COVID-19 infections and low trading volumes threaten the current recovery.

The ongoing story for the past couple of months in the cryptocurrency market has been confusion on whether Bitcoin (BTC) is destined for another leg down or is finally ready to break out toward new highs.

Bitcoin's price history and data from previous corrections suggest that the current struggles for the top cryptocurrency could persist for a little bit longer due to the strengthening dollar, the possibility of decreasing economic stimulus and a slew of technical factors connected to Bitcoin's price action.

A strong dollar threatens Bitcoin's recovery

According to data from Delphi Digital, one of the biggest factors placing strain on risk assets around the globe is the strengthening U.S. dollar which appears to be attempting a trend reversal after falling below 90 in late May.

DXY 1-day chart. Source: TradingView

Rising dollar strength put a halt to the year-long uptrend in the 10-year US Treasury yield which is also a reflection that the economic expansions seen in the first half of 2021 are beginning to lose steam and there is a threat that a new wave of Covid-19 infections threatening the global economic recovery.

Fractals and the Death Cross suggest the correction is not over yet

The short-term outlook for Bitcoin remains bearish as previous instances of the “Death Cross,” which appeared on BTC's chart in late June, have been followed by a corrective period that can last for nearly a year.

Bearish crossover of the 50 day and 200-day MA. Source: Delphi Digital

According to the analysts at Delphi Digital, the 12-month moving average is being tested as support, and a dip below this level would signal further downside for BTC price.

Bitcoin price testing the12-month moving average. Source: Delphi Digital

The 12-month moving average has been a key support level for Bitcoin historically, so how the price performs near this level could dictate whether the current uptrend remains intact.

Related: El Salvadorians take to the streets to protest Bitcoin law

Overall, caution is warranted for traders because low volumes have historically led to higher volatility when fewer open bids can lead to rapid price fluctuations.

As explained by Kevin Kelly, a certified financial analyst at Delphi Digital, “the short-term outlook turns quite a bit more bearish if and when we break those key levels” near $30,000.

Kelly said:

“I don’t necessarily think that we will see as nearly as significant of a drawdown as we did in say, post-December 2017, early 2018, and into the end of that year. But I do think, just given the structure of the market, that we could potentially be in for a bit more short-term volatility and potentially some more headwinds here, in the near term.”

The views and opinions expressed here are solely those of the author and do not necessarily reflect the views of Every investment and trading move involves risk, you should conduct your own research when making a decision.

This might just be a win-win situation for Ethereum

Stablecoins have been integral to the crypto-industry for the past two bull cycles, with their role in injecting liquidity very understated. Stablecoins’ utility is evident in other aspects of the industry too, with DeFi sharing an interoperable relationship with stable assets. However, the role of these stablecoins changed over the past few months, especially when […]

Bitcoin: Why we are still in a bull market

Bitcoin and Bitcoin holders sure had a roller coaster ride these past couple of months. Despite a series of FUDs and death crosses, on the back of strong institutional interest, Bitcoin still emerged to be more than just a cryptocurrency and a store of value asset.  Bull market or bear market After China “banned” mining operations, […]

Bitcoin Bulls Must Hold Key Price Level This Weekend or Bullish Momentum Will Be Lost, According to Top Crypto Analyst

Top crypto analyst and trader Michaël van de Poppe is discussing key Bitcoin (BTC) price levels as the flagship cryptocurrency consolidates above $33,000.

In a new video, Van de Poppe says that although Bitcoin appears to be in a slight bullish period, especially in the wake of news that Tesla and SpaceX hold BTC on their balance sheets, the asset needs to flip some key levels into support to sustain its rally.


“What you want to see is that Bitcoin generates a new higher low… At this stage, yes, we do have this fake-out beneath the recent low. We got back into the range. But in order to sustain bullish, you want to see the previous support flip for support again [$31,000].”

Right now, says Van de Poppe, Bitcoin has stayed above support at $29,300 and even managed to break out of a falling wedge, which is a pattern that can indicate trend reversal.

Van de Poppe highlights that if Bitcoin fails to flip $31,000 into support, he’s looking at a leg down to $26,000 and possibly to $24,000. The analyst, however, says many traders are waiting for Bitcoin to plummet and have reached a moment of bearish euphoria, which could set up a major bear trap and ignite a sustained BTC bounce.

“If we break [$32,800], I would not be surprised if we get a very swift and heavy run towards [$36,000] high, potentially even a wick towards [$37,500].”

Bitcoin is trading at $33,615 at time of writing, according to CoinGecko.


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Disclaimer: Opinions expressed at The Daily Hodl are not investment advice. Investors should do their due diligence before making any high-risk investments in Bitcoin, cryptocurrency or digital assets. Please be advised that your transfers and trades are at your own risk, and any loses you may incur are your responsibility. The Daily Hodl does not recommend the buying or selling of any cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing.

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The post Bitcoin Bulls Must Hold Key Price Level This Weekend or Bullish Momentum Will Be Lost, According to Top Crypto Analyst appeared first on The Daily Hodl.

Uniswap Labs Limits Access To Certain Tokens, What It Could Mean For The DeFi Sector

Software development studio Uniswap Labs (UL) announced the restriction of certain tokens via the domain. The company claims to be taking part in “creating a better” financial system and has taken the decision after reviewing the regulatory landscape and the actions of other “DeFi interfaces”.

The token removed from the domain represented a “very small portion of overall” trading volume on the platform, UL claims. Amongst the restricted tokens is Gold Tether (XAUt), Grump Cat (GRUMPY), iAAVE, iADA, iBNB, sAPPL, sCOIN, and many more related to options, tokenized stocks, and securities from traditional companies.

The software studio clarified that the Uniswap Protocol is a separate entity from the interface accessible via the domain.

(…) It provides unrestricted access to anyone with an Internet connection. Similarly, this action has no impact on the Uniswap Interface code, which remains open source, or the many other portals or locally run instances used to access the Uniswap Protocol.

The same clarification was made by Hayden Adams, inventor of the protocol, via his Twitter account. After receiving a lot of criticism for their decision, Adams reminded his followers about the difference between Uniswap Interface, the open-source GPL code,, the domain, and Uniswap the protocol.

Later, he added that true decentralization “doesn’t mean UL lets you do whatever you want on its website”, but that users can access the protocol via other interfaces. He added:

(In my opinion) the Uniswap Protocol remains the most decentralized of the top defi protocols by a wide margin. Why: Non-upgradable and permissionless smart contracts, w/ no admin keys or ability for UNI holders to steal underlying liquidity.

Is Uniswap Labs Trying To Prevent A Government Crackdown?

Of course, Adam’s statements caused different reactions across the crypto community. Stanislav Kulechov, a founder of decentralized protocol Aave, said that “DeFi front-ends should” be hosted on the InterPlanetary File System (IPFS).

In that way, the protocols can be “less dependent on the founding team” and maintain their decentralization. Kulechov also proposed a Bring-Your-Own-Front-End (BYOF) solution that would allow users to download the software into a device to access the protocol.

Gabriel Shapiro, General Counselor at Delphi Labs, pointed out the possibility that anyone who forks the Uniswap front-end could receive a lawsuit from the software development studio UL. Shapiro said that the company “like DMCA (Digital Millennium Copyright Act) takedown requests”.

In a different post, Shapiro addressed the rumors suggesting that UL and other DeFi projects received subpoenas from the Securities and Exchange Commission (SEC).

A few days ago, Senator Elizabeth Warren send a letter to the SEC Chair, Gary Gensler. Warren requested clarity on regulations regarding cryptocurrencies, stablecoins, and DeFi with a deadline set for July 28th, 2021, for Gensler to replied.

Many argued that UL decision could be related to that event and to the aforementioned subpoenas. Shapiro doesn’t completely rule out this possibility but claims that they only rumor to be taken with a grain of salt.

At the time of writing, UNI and other major DeFi tokens haven’t reacted to these events. Uniswap’s governance token trades at $18,17 with a 4.1% in the daily chart.

UNI with small losses in the daily chart. Source: UNIUSDT Tradingview

Powered by the people: 3 altcoins whose tweet volume spiked before a strong rally

In some cases, unusually high tweet volume can signal that an asset is about to soar, but traders should mind the context.

On Crypto Twitter, a surge of attention directed at a coin often comes in response to dramatic price action. Quite naturally, rallying assets attract the attention of traders and take over Twitter conversations, which can also create positive feedback loops that further prop up the momentum.

This is exactly what happened with some of the coins that saw a greater increase in average daily tweet volume this month, compared with the last. KuCoin Shares (KCS), which went up from $7.40 on July 4 to $14.20 on July 14, generated a staggering increase in average tweet volume, totaling more than 1,100% month-to-month.

Another big winner in terms of price, Axie Infinity (AXS), added 456% in tweet volume over the same period. In both cases, tweets mirrored the rallies’ dynamics, with the tweet volume curve closely following the price chart.

In other cases, however, the relationship can be reversed. Sometimes, the Twitter crowd picks up the news or emerging narratives that the wider market has yet to absorb, producing tweet volume spikes that come before price increases. Is there a way for traders to spot these dynamics early enough to gain an edge over the rest of the pack?

Data intelligence for early birds

Tweet volume is one of several metrics used to calculate the VORTECS™ score, an algorithmic indicator that compares complex patterns of market and social activity of an individual digital asset to years’ worth of historical data.

Exclusively available to Cointelegraph Markets Pro (CTMP) subscribers, the algorithm assesses parameters such as the market outlook, price movement, social sentiment and trading activity to generate a score that shows how suitable conditions of the observed combinations are for any coin at any given time.

On top of that, there is a dedicated space on the Markets Pro dashboard featuring assets that see abnormal tweet volume in real-time. Once they are alerted that something is brewing around a coin on Twitter, traders can be incentivized to take a closer look at the asset and make a judgment as to whether its price is likely to go up soon.

Here are three examples from the last thirty days where Twitter activity foreshadowed price action. Coin

CRO's Price vs VORTECS™ chart. Source: Cointelegraph Markets Pro

In the case of Coin (CRO), the source of Twitter users’ excitement is crystal clear: A few hours before the coin flashed on Markets Pro’s Unusual Twitter Volume box (red circle in the chart), it emerged that CRO became the first digital asset platform to partner with the Ultimate Fighting Championship, or UFC. The announcement was also delivered to Markets Pro users seconds after the original source published it, thanks to the platform’s instantaneous NewsQuakes™ functionality.

Unsurprisingly, the big news triggered a sprawling Twitter conversation. If traders had not been convinced by NewsQuake™ and coin’s rising VORTECS™ score, the skyrocketing tweet volume could be the final argument in favor of opening a CRO position. The coin had been valued at $0.113 when tweet volume peaked on July 8, and it kept climbing in the next four days, eventually hitting $0.132 before the price began to decline.


QSP's Price vs VORTECS™ chart. Source: Cointelegraph Markets Pro

Establishing what had triggered the surge of tweets referencing Quantstamp (QSP) around June 1 is less straightforward. One potential reason could be the launch of oneFIL, a stablecoin for the Filecoin community, around that time.

The protocol behind oneFIL is audited by Quantstamp. While QSP generates just a handful of Twitter mentions per day, on July 1 it got over 150 tweets, immediately putting it on the Markets Pro radar (red circle in the graph). While the peak tweet volume corresponded to the QSP price of $0.030, the coin pulled off a strong performance in the following days, reaching $0.034 on July 4, continuing to push further.

Flow Dapper Labs

FLOW's Price vs VORTECS™ chart. Source: Cointelegraph Markets Pro

Flow Dapper Lab’s (FLOW’s) peak tweet volume came late on July 10 (red circle in the graph) in response to a highly successful week that the asset had, more than doubling its price from $9 to over $18.

A high VORTECS™ score that FLOW received some 50 hours earlier indicated that in the past, such rallies unfolded in several rounds and that historical precedent suggested a possibility of the second leg. Sure enough, the price kept climbing even after the wave of tweets began to recede, eventually hitting $21.20

These examples demonstrate that, while an onslaught of tweets alone is not always a harbinger of an impending rally, spotting abnormal Twitter activity early on can lead to a profitable trade. It can be especially useful when combined with other metrics and a robust understanding of the coin-specific context.

Disclaimer. Cointelegraph is a publisher of financial information, not an investment adviser. We do not provide personalized or individualized investment advice. Cryptocurrencies are volatile investments and carry significant risk including the risk of permanent and total loss. Past performance is not indicative of future results. Figures and charts are correct at the time of writing or as otherwise specified. Live-tested strategies are not recommendations. Consult your financial advisor before making financial decisions. Full terms and conditions.

Aimedis Woking To Better Healthcare With Blockchain

Aimedis Woking To Better Healthcare With Blockchain

Aimedis, a blockchain-based platform, is seeking to change healthcare systems using its platform.

Aimedis is working towards making eHealth secure, affordable, and accessible worldwide. The team behind the project came together to create a platform that will harness emerging technologies, blockchain, and Artificial intelligence (AI) to solve significant weaknesses in the health system recently outlined by COVID 19.

Aimedis will reportedly help patients quickly forward their data to other networks and participants across the national borders. In addition, the platform will also prevent illegal activities such as double billing for doctors and insurance scams. 

One thing to note with Aimedis is that patients will notably have control over whom and what data they wish to make available. 

The transactions by patients will be processed as a Non-fungible token (NFT), allowing patients to earn some financial value for sharing their data. In addition, others like the medical professions can also get financial value by selling research data as NFT. Transactions on the platform will be paid in both crypto or fiat currencies. Notably, it will be more advantageous for the users to use Aimedis’s native token (AIMx).

AIMx is a BEP-20 coin with a max supply of 600 million coins. Users can earn the tokens in various ways, including staking with a return of 12.5 % per annum, sailing of data through NFTs, and content creation. In addition, content creators will be tasked with providing content for the platform to help Aimedis’s reputation among participants. From the 600 million AIMx tokens, 135 million have already been allocated for sale for private investors and institutions as part of the IDO. 

Aimedis offers digital therapy and healthcare services, B2B business – medical & scientific data NFT marketplace, Hospital & rehab information system, an advertising platform for healthcare providers & pharma, IoT & tracker integration, Data platform for pharma and healthcare research, Insurance program hubs and Online pharmacy and shop. The platform also has A steadily growing medical ecosystem, Incentivized growing educational and social medical network, and eLearning & eTeaching. 

 In addition to patient empowerment, the platform will also promote hospitals and other medical institutions by providing its own IT system and associated online seminars.

While commenting on the project, Dr. med. Florian Zwecker, chief physician and medical amb, explained:

“Aimedis allows us to exchange data fast, safe and reliable between hospitals and practices and offers services the German health card has never managed to offer.”

BTC At $33K – Did “The B Word” Conference Save Bitcoin?

BTC At $33K - Did "The B Word" Conference Save Bitcoin?

On July 21, Bitcoin was trading below the key defense line of $30,000. It was widely believed that this level should be preserved so that Bitcoin could prevent extended losses. Some analysts have warned that after the $30,000 support level, the next strong support sits at around $18,000.

However, it would be fair to argue that following the virtual “B-Word” conference, Bitcoin changed course and started to recover some of its losses. Bitcoin is trading at around $33,700, high by more than eight percent compared to its price on July 21.

BTCUSD Chart By TradingView

The B Word conference featured prominent figures including Elon Musk, Jack Dorsey, and Cathie Wood. Elon Musk, CEO of both Tesla and SpaceX, who is also deemed responsible for starting the latest market crash, asserted that he believes money is an “information system for labor allocation.” He also pointed out that he thinks Bitcoin is too slow and too costly to meet the global demand.

However, he further stated that he personally owns some Bitcoin and that Both of his companies (Tesla and SpaceX) also own Bitcoin. Probably, this had a lot of positive effects on the market, as many still look up to Elon Musk for crypto advice. “My hope for crypto, in general, is to improve the information system which we call money,” Musk then added.

Jack Dorsey, a well-known Bitcoin proponent, immensely supported Bitcoin. He went on to say that Bitcoin reminds him of the early days of the internet when there was no censoring and filtering of information. Just recently, Dorsey unveiled a new initiative to bring DeFi services to Bitcoin.

Cathie Wood, CEO, and Founder at ARK Invest, also showed his support for Bitcoin and asserted that Bitcoin is a good hedge against inflation. Interestingly, Wood said she loves the fact that Bitcoin is not backed by any centralized entity, rather it is created to be decentralized.

Did “The B Word” Conference Just Save Bitcoin?

The conference was promising for Bitcoin in numerous ways. For one, Elon Musk said that he and both of his top companies own Bitcoin. He also mentioned that if Bitcoin mining succeeds in becoming environmentally friendly, Tesla will accept it as a payment method again.

Jonathan Cheesman, head of over-the-counter at FTX, asserted that the event clearly had a positive impact on Bitcoin price. “The event was clearly priced as bullish given the price action ahead of it and seems to have met those expectations in the short term. At a high level, it’s very impressive to see the CEOs of Tesla, Ark, and Twitter meeting to discuss the positive attributes, their hopes for Bitcoin, and how it’s a progressive instrument for society,” Cheesman stated.

With Tesla’s Holdings Underwater, Market Pundits See Elon Musk Championing Another Bitcoin Bull Run

Billionaires Elon Musk and Mark Cuban Bullish On Dogecoin as DOGE Dominates Traditional Retail Market

The popular analysts are speculating that it is only a matter of time before Musk comes traipsing back to being bullish on Bitcoin with Tesla’s Bitcoin holdings “underwater.” 

In February this year, Tesla disclosed a $1.5 billion Bitcoin investment in an SEC filing. According to its earnings release in Q1 of 2021 ending March 31, the company made a clean $103 million profit from its sale of about $272 million worth of its profit, leaving them with about $1.33 billion worth of Bitcoin then valued at around $2.48 billion going by the price of around $58,900 at the time.

BTCUSD Chart By TradingView

Since then, the price of Bitcoin has taken hit after hit. Elon Musk was notably among the reasons for the market correction as he reversed his stance on Bitcoin. Bowing to pressure from Tesla investors and environmentalists, Musk stated that Tesla would no longer accept Bitcoin as payment for its cars, citing concerns over the high energy usage of Bitcoin mining, though the company has not sold the rest of its holdings. 

With the price of Bitcoin currently trading at about $33,700, Tesla’s Bitcoin bag should be worth an estimated $1.25 billion making the total loss recorded by the company total at an estimated 7% loss for the investment. Notably, Musk is still skeptical about Bitcoin. 

Where he has anchored his support is on Dogecoin. He has expressed confidence in the meme coin and is continuously making plans centered around it. His recent Twitter update of his Twitter profile picture saw the price of the coin pump about 20%. 

Sentiments are still mixed on the speculation of his return to supporting Bitcoin. Most Bitcoiners are still sour over his earlier change of stance and are not eager to see him return. The Bitcoin market also seems to be taking lesser hits from his sentiment these days and the disgruntled Bitcoiners would rather have it that way.

However, CEO of Twitter Jack Dorsey seems not to share the general sentiment as he invited Musk to discuss Bitcoin at the B-Word event. The event, which was organized by Jack Dorsey, and Cathie Wood of Ark Invest to discuss institutional Bitcoin adoption featured talks by key figures in the Bitcoin industry. 

Jack – who is one of the most enlightened voices for Bitcoin and seems to respect Musk – extended an invitation to Musk on Twitter for the event, to which Musk obliged.

NatWest Executive Warns: The UK Is a Paradise For Crypto Scammers

David Lindberg – Chief Executive of retail banking at NatWest – warned investors to beware of dealing with digital assets in Britain. In his opinion, the market there is full of fraudsters who create fake cryptocurrency exchanges to lure users into thinking they are investing.

‘Fraud And Scams Are an Industry’

One of the top executives at the leading British bank NatWest – David Lindberg – alerted that the UK is not the best place for crypto investing. To him, the Kingdom is a “paradise for scammers,” and investors should be extra cautious. He went further, stating that he had “never seen a market worse” than the UK for scams.

Lindberg stressed that the issue might lead to devastating consequences for some individuals. He opined that the British government, the police, banks, and social media operators should join forces and combat the fraudsters:

“Fraud and scams are an industry. They’re intelligent, and they move fast, and it’s heartbreaking to see how they try to destroy lives.”

The top banker also warned that some of the bad actors create websites where people can invest in Bitcoin, Ethereum, and other cryptocurrencies, but instead, they are fake, and the money goes to the fraudsters’ pockets:

“They’re setting things up, with the look and feel of crypto exchanges, that aren’t. They’re just facades and our customers sometimes think they’re invested in crypto. And all they’re really doing is sending money to a fraudster.”

David Lindberg
David Lindberg, Source:

The FCA Also Warned Against Crypto Investing Risks

It is worth noting that the UK Financial Conduct Authority (FCA) recently announced its plans to launch a $15 million digital marketing campaign to warn investors of the risks associated with digital assets. The British regulator will raise the attention of mainly young UK residents within the ages of 18 to 30.

FCA’s Chief Executive – Nikhil Rathi – noted that youngsters consider investments as entertainment where they behave “less rationally and more emotionally, egged on by anonymous and unaccountable social media influencers.” He gave the GameStop craze as an example and stressed that people should be more informed when allocating their money to the market.

Moreover, the FCA intends to implement more strict rules for new crypto-related businesses. The watchdog explained that it would set up a regulatory nursery system to monitor those companies in their early stages to ensure they comply with laid down regulations. Rathi added that the UK would not tolerate any firms that are unwilling to comply with the upcoming rules.

Featured Image Courtesy of TheIndependent

Here Are the Five Ethereum Tokens With Strongest Address Activity Right Now, According to Blockchain Analytics Firm Santiment

Blockchain analytics firm Santiment is identifying what it sees as the five Ethereum-based (ERC-20) assets that have recently shown continued strength in terms of address activity.

Santiment filters out any low-volume coins and includes only the top 200 cryptocurrencies on CoinMarketCap.


The first coin on Santiment’s list is Small Love Potion (SLP). SLP tokens are earned by users who play the blockchain-based game Axie Infinity and can be used to generate or breed new digital pets called “Axies.” According to Santiment, SLP’s address activity could be a strong bullish signal given its divergence with price action.

“A spike in SLP address activity is very impressive. Its absolute value is overwhelming! [32,000] Ethereum addresses interacting with this coin daily. Creating [the] strongest bullish divergence with price dropping 10% last day.”

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Source: Santiment

At time of writing, SLP is trading at $0.31, according to CoinMarketCap.

Next on Santiment’s list is Status (SNT), which is a mobile and desktop operating system with a decentralized browser featuring a messaging system. SNT allows users access to Ethereum-based decentralized applications (DApps). According to Santiment, SNT is another crypto asset with surging active addresses.

“Active addresses growing along with price. It’s a good sign. Nothing worrying here.”

Source: Santiment

Third on Santiment’s list is the crypto lending platform Nexo. Santiment says that although Nexo’s address activity remains strong, the recent drop could possibly indicate that address activity has topped out for now.

“On one hand, we can see a nice bullish divergence between increasing address activity and relatively stagnant price. On another hand, active addresses could break their uptrend and drop from here.”

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Source: Santiment

The next asset Santiment analyzes is The Sandbox (SAND), a virtual world where users can mint, buy and sell virtual experiences, such as games, art or events. According to Santiment, upticks in SAND’s address activity have previously signaled a drop in price.

“What do we see here. Some sort of a pattern. 1) Address activity spikes once in few days. 2) Price tops before. If history repeats itself, current uptick is a sign of ongoing price correction.”

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Source: Santiment

Last on Santiment’s list of Ethereum tokens with the strongest address activity is Decentraland (MANA). Decentraland is an Ethereum-based blockchain whose users can create, buy or monetize virtual reality applications. The crypto insights firm says that MANA’s address activity appears to have hit a top for now, which might be a prelude to a correction.

“Addresses spike looking like [it’s] finished already. Perhaps looking like a top sign, according to its historical patterns. Price might be in danger.”

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Source: Santiment

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XRP, Cardano, Zcash Price Analysis: 24 July

Bulls were reviving the cryptocurrency markets, at press time, to defend major support levels. However, most of the market seemed somewhat directionless.  XRP noted a decrease in capital inflows as its price didn’t exactly move north, while Cardano’s charts pictured a buy signal. Finally, Zcash registered minor gains on the back of an uptrend.   XRP […]

NASDAQ listing lands Coinbase in another lawsuit

TL;DR Breakdown

  • Coinbase was recently sued over the accusations of misleading people with the “Dogecoin” campaign.
  • It has found itself in trouble again concerning the NASDAQ listing of the company back in April.
  • The directors, firms, and everyone who has grasped sweet fruits from Coinbase’s direct offering materials.

Coinbase is a major crypto exchange firm that operates in the land of dreams, the United States of America. People have been putting their money into the platform for a while now. A lawsuit emerged first when the company was accused of ‘misleading’ the Dogecoin campaign.

Another lawsuit has been filed in the name of Coinbase and all the executives, firms, and officials who have reaped the benefits during April’s direct offering on NASDAQ by the firm.

NASDAQ listing and lawsuit

Scott+Scott Attorneys at Law LLP was behind this recent lawsuit filed and targeted a lot of Coinbase officials who took profits from the NASDAQ listing. The lawsuit was filed on behalf of Donald Ramsey and others in similar situations who claim that the offering materials were “misguiding.”

The common Class A stock of Coinbase that the litigators bought was traceable to the company’s offering prospectus wherein it wasn’t mentioned that the organizations needed “cash injection.” It also wasn’t mentioned that the company would be subjected to disruptions when large-scale advancement would take place.

Dogecoin lawsuit

Prior to this NASDAQ listing lawsuit, the company was claimed to have commited fraud by “deceiving” its users, wherein David Suski invested $100 to the platform so that it would be eligible for a sweepstakes offer that amounted to over USD1.2 million.

According to the plaintiff, the trading of DOGE was manipulated for money by the platform as entrance into the sweepstakes offer didn’t require any $100 trade, and it could be done with just a simple index card.

Coinbase Facing Securities Lawsuit Alleging Company Made ‘Materially Misleading’ Statements During IPO

An internationally recognized law firm has filed a securities class action lawsuit alleging that Coinbase made misleading statements during the crypto exchange’s initial public offering (IPO).

Scott+Scott Attorneys at Law LLP filed the lawsuit against Coinbase in the California Northern District Court on Thursday on behalf of Coinbase investor Donald Ramsey, who was named individually as the plaintiff alongside all other investors.


Ramsey claims in his complaint that Coinbase made “materially misleading statements” in its offering materials at the time of the IPO. He says the company failed to mention that it needed a “sizable cash injection” and that its platform was susceptible to service-level disruptions that were “increasingly likely to occur as the company scaled its services to a larger user base.”

Ramsey alleges that positive statements that were made about Coinbase leading up to its IPO were potentially misleading or lacked a reasonable basis.

Ramsey further says that in mid-May, the “high-flying promise of Coinbase came to a screaming halt.” According to the complaint, Coinbase announced plans to raise about $1.25 billion via a bond sale on May 17th, and two days later, it revealed technical problems due to network congestion.

Once Coinbase’s need for a cash injection and the platform’s scaling limitations came to light, the stock’s value dropped nearly 10% over two trading sessions.

“As a result of defendants’ wrongful acts and omissions, and the precipitous decline in the market value of the company’s securities, plaintiff and other class members have suffered significant losses and damages.”

By the time Ramsey initiated the class action, COIN had dropped over 45% from its April 14th opening price to a low of $208 per share.

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Binance CEO Reportedly Expects ‘Heavy’ Crypto Regulations

Binance CEO Changpeng Zhao reportedly expects the crypto space to get hit with “heavy” regulations.

Speaking at the annual blockchain virtual summit REDeFiNE TOMORROW 2021, Changpeng Zhao (CZ) indicates that Binance, which operates the world’s largest cryptocurrency exchange as well as an ecosystem of blockchain-based platforms and initiatives, such as Binance Academy, Binance Labs, Trust Wallet, Binance Launchpad, and Binance Chain, is in the “mindset” of pivoting toward financial services.


CZ spoke with Tai Panich (TP), chief venture and investment officer of SCB 10X, the Thailand-based Siam Commercial Bank subsidiary that hosted the event. They discussed how Binance might transition amid incoming scrutiny of the crypto space.

“CZ: More regulatory scrutiny recently. It’s clear that heavy regulations should be expected. Binance is in the mindset of shifting from a tech startup to a financial service. We are increasing compliance efforts, including [hiring] ex-regulators.

So far, [communication] with regulators has not been our strong [suit]. Communication localization is also needed.”

According to an article published by Bloomberg in May, the U.S. Justice Department, the Internal Revenue Service, and the Commodity Futures Trading Commission are all reportedly probing Binance. The report noted that “the specifics of what the agencies are examining couldn’t be determined, and not all inquiries lead to allegations of wrongdoing.”

In 2019, officials banned Binance from operating in the US on regulatory grounds. Binance, along with other investors, subsequently launched Binance.US, an independent cryptocurrency exchange that registered with the United States Financial Crimes Enforcement Network to comply with US laws and regulations.

In conversation with TP, CZ reportedly discussed potential growth opportunities for Binance, including branching out into other continents and exploring various avenues in the cryptocurrency space, such as decentralized finance (DeFi) and non-fungible tokens (NFTs).

“CZ: [I] see huge potential for growth in Asia and [South East Asia]. Africa is also a blank-slate for development. Different strategies for different places.

TP: Exciting areas for Binance growth? 

CZ: Active trading is not for everybody. Gaming, DeFi, NFTs. Lots of potential. I’m sure there are areas that we haven’t looked at that are on the verge of growing.”

When asked about the potential for an initial public offering (IPO), Zhao notes that while it’s on the agenda, it’s not the company’s primary focus right now.

“CZ: Binance US is looking at [the] IPO route. Most regulators are familiar with a certain pattern (having HQ, having corporate structure). But we are setting up those structures to make it easier for an IPO to happen.

No direct plan for IPO right now though. Currently [focused] on growing.”

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Protests Erupt In El Salvador Over The Government’s Bitcoin Law

Protests Erupt In El Salvador Over The Government’s Bitcoin Law

After garnering the approval of a supermajority in parliament, El Salvador enacted its Bitcoin Law, essentially becoming the world’s first country to adopt bitcoin as legal tender.

The Bitcoin Law was passed just hours after President Nayib Bukele first revealed his intentions to introduce it. The brief time period between Bukele’s surprise announcement and the passage of the legislation largely precluded challengers from blocking it.

However, a group of Salvadorans has now come out to protest against the Bitcoin Law. The group, composed of student associations, leftist unions, among others, and organized by the Block of Resistance and Popular Rebellion flooded the streets with banners and slogans to demand that the law be nullified.

The Problem With The Bitcoin Law, According To Protesters

In a letter by the group, the protesters asserted that Bukele passed the legislation without consulting extensively with the citizens. It also made a reference to bitcoin’s volatility. With that being the case, it compared investing in the flagship cryptocurrency to playing the lottery, with one protestor explaining:

“For those earning a minimum wage, in one moment you may have $300 in Bitcoin and the next day those $300 can turn into $50.”

Notably, the group’s major cause for concern regarding the Bitcoin play is the belief that there will be inequality in the usage of the crypto asset by the government and the average citizen. The letter posits that bitcoin will only serve deep-pocketed businessmen with links to the government and help them launder dirty money.

Moreover, they believe bitcoin will “facilitate public corruption and the operations of drug, arms and human traffickers, extortionists and tax evaders.  It would also cause monetary chaos. It would hit people’s salaries, pensions, and savings, ruin many MSMEs, affect low-income families, and hit the middle class.”

The protestors’ concerns are not completely unfounded. A number of policymakers and well-known economists have previously dismissed bitcoin as a tool for money launderers and tax evaders  — an element that has impeded mainstream acceptance.

Though the Bitcoin Law has already been passed, it allows 90 days before becoming applicable, indicating that Salvadorans will be obliged to accept bitcoin as legal tender come September 7.

Granted, the World Bank rejected El Salvador’s request for help adopting bitcoin on account of the cryptocurrency’s environmental and transparency concerns. The demonstrators fear the government will use up millions of dollars of the taxes paid by the residents to implement the law. 

Is Amazon About To Accept Cryptocurrency Payments? New Job Listing Suggests It Might

Trillion-Dollar Big Tech Giant Amazon Latest To Show Interest In Building With Crypto

Every now and then, a job post will trigger a cascade of rumors in the cryptoverse as observers want to know whether a tech giant like Apple or Facebook is preparing to adopt cryptocurrencies.

This happened recently with Amazon, which published a new job listing that looks to hire a digital currency and blockchain product lead. 

Job Ad Reveals Amazon’s Broader Cryptocurrency Ambitions

The new recruit will create a strategy and roadmap for the e-commerce giant’s new blockchain-based payment products. Additionally, they will “innovate on behalf of customers within the payments and financial system,” according to the job post. 

One part of the job posting specifically mentions the digital/cryptocurrency ecosystem, while another stipulates that the candidate must be savvy in the areas of distributed ledgers, blockchain, cryptocurrency, and central bank digital currencies (CBDCs).

“You will leverage your domain expertise in Blockchain, Distributed Ledger, Central Bank Digital Currencies and Cryptocurrency to develop the case for the capabilities which should be developed, drive overall vision and product strategy, and gain leadership buy-in and investment for new capabilities.”

While Amazon is yet to dip its toes into cryptocurrency payments, the online retailer is already interacting with blockchain technology. Its cloud computing business subsidiary Amazon Web Services (AWS) unveiled its Managed Blockchain service which uses the Ethereum and Hyperledger open-source frameworks.

The new job posting points to Amazon laying a broader foundation for the cryptocurrency space. More importantly, an Amazon spokesman added fuel to the fire when he hinted that the firm may soon support crypto payments.

“We’re inspired by the innovation happening in the cryptocurrency space and are exploring what this could look like on Amazon. We believe the future will be built on new technologies that enable modern, fast, and inexpensive payments, and hope to bring that future to Amazon customers as soon as possible.”

“Exploring” is a broad term and could mean countless things for a multinational corporation like Amazon. As such, it’s unclear if the company is looking to integrate bitcoin payments, launch its own digital currency or create something completely unrelated.

Big Brand Backing

It goes without saying, Amazon’s foray into the crypto space would give it its biggest endorsement yet.

Elon Musk’s electric car giant Tesla has so far been the biggest bitcoin backer, with the company holding a massive stash of the cryptocurrency on its corporate balance sheet. During the B-Word event earlier this week, the billionaire chief restated that Tesla will “most likely” resume bitcoin payments once it confirms the amount of renewable energy used to mine the cryptocurrency.

Moreover, Apple is also on the hunt for a business development manager with experience in cryptocurrencies to lead its “alternative payments” collaboration program. While no public statements are yet to be made, it is clear that the surging interest in digital currencies among retail and institutional investors is pushing tech giants like Apple to look in this direction.

Support from Amazon, or Apple would undeniably bolster further demand for cryptocurrencies.