Cardano, AVAX, Dogecoin Price Analysis: 26 September

The month of September has, all in all, proved to be a difficult month for the crypto market. The market encountered yet another round of depreciation. Cardano declined over the last 24 hours and inched closer to its immediate support level. AVAX also depreciated after noting a sell signal on its four-hour chart. Finally, Dogecoin was […]

The NFTs Revolution: LuxFi Is Launching Asset-Backed NFT Marketplace for Luxury Assets

The NFTs Revolution: LuxFi Is Launching Asset-Backed NFT Marketplace for Luxury Assets

Buying a Rolex watch or a Chanel bag with Bitcoins? It becomes possible with LuxFi. With the vision to bridge the gap between real-world luxury assets and digital assets (NFTs), LuxFi has announced the planned launch of its NFT marketplace. The introduction of LuxFi’s marketplace allows everyone to buy, sell and invest in luxury assets through NFTs, with the possibility of using cryptocurrency and traditional payment methods.

The phygital world of luxury evolved into an integral part of human experience. With the recent worldwide impact of the COVID-19 pandemic and the increasing demand for luxury assets, the luxury market has delved deeper into digital initiatives. The digital revolution has won over the hearts of consumers worldwide, and the prosperous global luxury market has displayed no signs of stopping soon.

LuxFi’s NFT Marketplace

LuxFi is among the pioneers in the luxury industry to recognize the potential of NFTs. The company will launch a platform to assist consumers by circumventing the existing challenges and creating a sustainable ecosystem in the luxury market. This comes in the form of the world’s first asset-backed NFT marketplace for luxury assets, integrated with advanced technologies to allow permanent traceability, authentication and asset transferability.

With this marketplace, LuxFi is able to establish an ecosystem for buyers and sellers. As they are working directly with brands and manufacturers, the platform enables people to buy, sell and invest in luxury assets that are authenticated by professional verifiers in their network. The new owners don’t necessarily need to redeem the physical products for future reselling, and their luxury asset-backed NFTs can be used as collateral for loans, or be sent and transferred in different games and live streaming platforms among other features. New owners can always redeem the physical items in the real-world.

LuxFi’s innovative platform goes beyond solving the pain points previously mentioned, it provides consumers with an alternative method to invest and potentially assist those who otherwise have difficulty accessing loan banking services to get financing services.

LuxFi also collects data from global online and offline sales channels, and social media platforms for luxury assets. The data is analyzed and benchmarked against global trends to provide an accurate pricing for each NFT on the platform.

A consumption item that was once viewed as mere satisfaction for consumers to splurge on, now possesses the ability to be transformed into assets that are not only valuable but also investible. LuxFi NFT marketplace’s launch will surely garner attention from the public and revolutionize the luxury industry through its inventive use of blockchain technology.

LuxFi is on its path to transform the luxury industry for a brighter future. You can find out more about LuxFi’s progress and developments through the social media below.

You May Win a Rolex with 0.01ETH – LuxFi’s NFTs Auction & Lottery on 26th Sep

LuxFi is grateful for all the genuine support that their community has given to them. To celebrate their upcoming launch of their NFT marketplace, LuxFi is going to hold its Auction & Lottery on 26th Sep at 10:00AM UTC to 3rd Oct at 10:00AM. For each 0.01ETH, the participant will get 1 Lottery Ticket to get a chance to be a winner of the top prize, a Rolex watch NFT!

Non-Fungible Tokens

Non-fungible tokens (NFTs), a form of token that provides the ability to tokenize assets online through a certificate of ownership, has inspired luxury brands and their recent evolutions. With an industry plagued by multiple challenges including counterfeiting, lack of transparency and illiquidity, NFTs have the potential to mitigate these risks and enable buyers and sellers to securely buy, sell and invest in luxury assets in the phygital world.

Blockchain is the missing piece in the luxury market puzzle, it allows for the creation of physical-to-digital links between goods and their digital identities. A seal or serial number acts as the physical identifier, linking back to the product’s ‘digital twin’. This digital identity is what brands are currently betting on, and it’s on the micro scale that experts are expecting blockchain to make a real difference. Looking forward, luxury brands will play an important role for authentication at the earliest manufacturing stage and the professionals in LuxFi’s retailers network as verifiers for the existing luxury assets circulating in the market. It gives them the possibility to sell products linked to digital identities, fostering trust from the customer’s side and improving the customer-brand relationship.

Using blockchain technology the entire lifecycle of any product can be monitored and tracked with a decentralized, tamper-proof digital ledger, all while maintaining the owner’s privacy and security.

Aidaa Wong, CEO and Founder of LuxFi said: ”New technologies are unlocking limitless possibilities in the luxury market. As the CEO and Founder of LuxFi, our goal is to build the world’s first asset-backed NFT marketplace for luxury assets. I believe the whole industry is increasingly moving toward a more positive and sustainable ecosystem. The advent of blockchain technology was a huge milestone for many industries and today, blockchain is the new black in the luxury market. Through our NFT marketplace, we envision a secure place for people to use cryptocurrency to buy, sell and invest in authentic luxury assets. All of our NFTs value is backed by real-world data. We are looking forward to exploring further the multiple possibilities of what our luxury asset-backed NFTs, blockchain-based data intelligence system and ecosystem could offer. This is a revolutionary time in the way we consume luxury assets!”

 

About LuxFi

LuxFi is the world’s first luxury asset-backed NFT marketplace, leveraging on a big data intelligence system and unique algorithm for automated data collecting and data processing. LuxFi eliminates counterfeiting while minting an NFT on their multi-chain blockchain network, and provides an accurate NFT pricing that is backed by real-world data. IDO will take place on October 6, 2021.

 

Media Contacts

Website: https://www.luxfi.io

Twitter: https://twitter.com/luxfiofficial

Telegram Official Group: https://t.me/Luxfiofficial

Telegram Announcement Channel: https://t.me/luxfinews

Medium: https://luxfiofficial.medium.com


This is a sponsored post. Learn how to reach our audience here. Read disclaimer below.

Bitcoin Price Analysis: BTC retests $41,000 for the fourth time, ready to reverse next week?

Story 483614397

TL;DR Breakdown

  • Bitcoin price analysis is bullish today.
  • BTC/USD saw another spike to $41,000.
  • BTC bulls start to gain momentum again.

Bitcoin price analysis is bullish today as the support at $41,000 saw another retest with a rejection for further downside. Therefore, we expect BTC/USD to reverse next week and look to finally set higher highs.

Bitcoin Price Analysis: BTC retests $41,000 for the fourth time, ready to reverse next week? 1
Cryptocurrency heat map. Source: Coin360

The overall market traded with mixed results over the last 24 hours. The market leader, Bitcoin, gained 2.31 percent, while Ethereum is up by 3.69 percent. Meanwhile, the rest of the top altcoins trade with mixed results, with Uniswap (UNI) being the top performer, with a gain of almost 23 percent.

Bitcoin price movement in the last 24 hours: Bitcoin bounces from $41,000 again

BTC/USD traded in a range of $40,848.46 – $43,657.30, indicating a substantial amount of volatility over the last 24 hours. Meanwhile, the total trading volume has declined by 8.81 percent and totals $32.8 billion, while the total market cap trades around $816 billion, resulting in market dominance of 42.6 percent.

BTC/USD 4-hour chart: BTC set to break higher? 

On the 4-hour chart, we can see the Bitcoin price action approaching the $44,000 mark, which, if broken, could lead to a lot more upside.

Bitcoin Price Analysis: BTC retests $41,000 for the fourth time, ready to reverse next week?
BTC/USD 4-hour chart. Source: TradingView

Bitcoin price action has traded in a bearish momentum so fat this month. After setting a new swing high at $53,000, a sharp reversal followed on the 7th of September, setting the trend for the rest of the month.

After some consolidation above $44,000 during the middle of the month, BTC/USD saw a slight advance to $48,500, where a lower major swing high was set. What followed was another sharp move lower on Monday, with support found at $41,000.

The $41,000 has since been retested three times, with the last retest strongly rejected earlier today, indicating bullish momentum forming. Overall, we expect the Bitcoin price to start pushing higher as bears are likely exhausted.

Bitcoin Price Analysis: Conclusion 

Bitcoin price analysis is bullish as another rejection from $41,000 support was seen today. Therefore, we expect that BTC/USD is ready for further upside, and a break above the previous local high could be seen early next week.

While waiting for Bitcoin to move further, read our guides on NFT Games, CoinJar, as well as Bitcoin Memes.

Disclaimer. The information provided is not trading advice. Cryptopolitan.com holds no liability for any investments made based on the information provided on this page. We strongly recommend independent research and/or consultation with a qualified professional before making any investment decisions.

Solana Price Analysis: SOL slowly continues to retrace, a retest of $120 to follow today?

Story 483606296

TL;DR Breakdown

  • Solana price analysis is bearish today.
  • SOL/USD continued to decline overnight.
  • SOL broke past $130 again.

Solana price analysis is bearish today as the market continued to decline over the last 24 hours and set another local low and high. Therefore, we expect SOL/USD to see further downside later today and potentially move to retest the $120 current major swing low.

Solana Price Analysis: SOL slowly continues to retrace, a retest of $120 to follow today? 1
Cryptocurrency heat map. Source: Coin360

The overall market traded with bearish momentum over the last 24 hours despite the market leaders, Bitcoin and Ethereum, gaining 1.67 and 2.54 percent. The rest of the top altcoins have seen a slight decline of 2-4 percent.

Solana price movement in the last 24 hours: Solana sets lower low below $130

SOL/USD traded in a range of $125.12 – $140.94, indicating strong volatility over the last 24 hours. Trading volume has decreased by 18.37 percent and totals $2.4 billion, while the total market cap trades around $40.3 billion, ranking the coin in 7th place overall.

SOL/USD 4-hour chart: SOL to see further downside today?

On the 4-hour chart, we can see the Solana price moving higher over the past hours as bears likely take a pause before further downside attempts.

Solana Price Analysis: SOL continues to retrace, a retest of $120 today?
SOL/USD 4-hour chart. Source: TradingView

The Solana price action has traded in a steady bearish momentum this month. After a strong rally during the first days of September, SOL/USD peaked at around $215 on the 9th of September.

This price action movement was followed by a strong reversal, with several lower lows and highs set over the past weeks. The current major swing low at $120 was set on the 21st of September, followed by a reaction to $150, where another lower high was set.

Since then, SOL/USD has declined, with two small pushes lower to $130 slowly. Overall, we expect this price action development will lead Solana price action lower next week, with the $120 support as the closest target.

Solana Price Analysis: Conclusion 

Solana price analysis is bearish today as the market continued to drop over the last 24 hours after setting a slightly lower high. Therefore, we expect SOL/USD to reach further downside and potentially test the $120 support next.

While waiting for Solana to move further, read our guides on NFT Games, CoinJar, as well as Bitcoin Memes.

Disclaimer. The information provided is not trading advice. Cryptopolitan.com holds no liability for any investments made based on the information provided on this page. We strongly recommend independent research and/or consultation with a qualified professional before making any investment decisions.

Ethereum Price Analysis: ETH spikes higher after a quick test of $2,750 support

Story 483596291

TL;DR Breakdown

  • Ethereum price analysis is bullish for today.
  • ETH/USD starts to recover after a retest of previous support.
  • Ethereum is likely to test $3,100 today.

Ethereum price analysis is bullish today as the market saw a strong move higher today after a retest of $2,750 support. Therefore, we expect ETH/USD to continue higher today and look to test the $3,100 resistance.

Ethereum Price Analysis: ETH spikes higher after a quick test of $2,750 support 1
Cryptocurrency heat map. Source: Coin360

The overall market traded with mixed results over the last 24 hours. The market leader, Bitcoin, is up by 1.74 percent, while Ethereum has gained 1.87 percent. The rest of the top altcoins have seen mixed results, with Uniswap (UNI) being the best performer.

Ethereum price movement in the last 24 hours: Ethereum spikes higher after a retest of $2,750 support

ETH/USD traded in a range of $2,744.58 – $3,009.13, indicating strong volatility over the last 24 hours. Trading volume has decreased by 1.09 percent and totals $21.7 billion, while the total market cap trades around $348.9 billion, resulting in the market dominance of 18.38 percent.

ETH/USD 4-hour chart: ETH targets previous high next?

On the 4-hour chart, we can see the Ethereum price gaining momentum as bulls are ready to push the market higher.

Ethereum Price Analysis: ETH spikes higher after a quick test of $2,750 support
ETH/USD 4-hour chart. Source: TradingView

Ethereum price action has seen strong volatility so far this month, with the market declining overall. After the first drop on the 7th of September, ETH/USD established support of around $3,150.

After retesting the support twice last week, a new swing high was set around $3,650 on the 16th of September, followed by another substantial decline over the following days. Support was finally found around $2,750 on Tuesday, followed by a reaction to $3,150 previous significant support.

However, bullish momentum did not continue for long as the Ethereum price saw another spike lower on Friday. After consolidation below $2,950 yesterday, ETH/USD moved lower again early today, with bulls picking up the momentum again from there.

Ethereum Price Analysis: Conclusion 

Ethereum price analysis is bullish today as the market saw a retest of the $2,750 support, followed by a strong move higher. Therefore, we expect ETH/USD to reach further upside today and potentially set a new higher high above $3,100. 

While waiting for Ethereum to move further, read our guides on NFT Games, CoinJar, as well as Bitcoin Memes.

Disclaimer. The information provided is not trading advice. Cryptopolitan.com holds no liability for any investments made based on the information provided on this page. We strongly recommend independent research and/or consultation with a qualified professional before making any investment decisions.

Nayib Bukele: Chivo Bitcoin Wallet Has Now More Active Users Than Any Salvadorian Bank

In just three weeks, roughly one-third of El Salvador’s population has started to employ the Bitcoin wallet Chivo actively. As such, the country’s president updated that more people will soon be using the app than they have bank accounts in all local banking organizations combined.

  • The smallest and most densely populated Central American country made history earlier this year when it announced it will legalize bitcoin within its borders.
  • The move received many controversial outtakes, from BTC proponents praising it to global organizations like the IMF criticizing it.
  • Nevertheless, El Salvador indeed proceeded and voted bitcoin to be a legal tender, which became official on September 7th.
  • Although some reports claim that there have been demonstrations against the decision, the country has purchased 700 bitcoin on a few occasions.
  • Upon legalizing BTC, president Nayib Bukele promised locals that they can receive $30 worth of the asset if they downloaded a Bitcoin wallet called Chivo.
  • The app’s launch didn’t go without its technical issues, but, as the president frequently updates, the engagement levels have already been impressive.
  • Bukele noted on Saturday that 2.1 million people are already actively using the wallet (not just downloaded). As of 2019, the entire population was 6.5 million – meaning that more than 30% of the locals are employing the app.
  • Moreover, Bukele said that despite this relatively short period of three weeks, the wallet “has more users than any bank in El Salvador and is moving fast to have more users than all banks in El Salvador combined.”

Featured Image Courtesy of Al Jazeera

Sushiswap Price Analysis: SUSHI briefly moves past $9 support, rejects back to $11

Story 483590060

TL;DR Breakdown

  • Sushiswap price analysis is bearish for today.
  • SUSHI/USD saw a quick spike to $11 today.
  • SUSHI is likely to consolidate around $10 today.

Sushiswap price analysis is bearish today as the market saw a quick spike to the $11 mark after dipping below $9 this morning. Since SUSHI/USD rejects further upside right now, we expect bearish momentum to follow, likely resulting in a consolidation of around $10 today.

Sushiswap Price Analysis: SUSHI briefly moves past $9 support, rejects back to $11 1
Cryptocurrency heat map. Source: Coin360

The overall market traded mostly in the red over the last 24 hours. The market leaders, Bitcoin and Ethereum, are up by 0.78 and 0.59 percent, respectively. Meanwhile, the top altcoins have declined by 3-5 percent.

Sushiswap price movement in the last 24 hours: Sushiswap spikes to $11

SUSHI/USD traded in a range of $8.53 – $10.80, indicating strong volatility over the last 24 hours. Trading volume has increased by 78.66 percent and totals $600 million, while the total market cap trades around $1.32 billion, ranking the coin in 74th place overall.

SUSHI/USD 4-hour chart: SUSHI looks to move lower again?

On the 4-hour chart, we can see the Sushiswap price action rejecting further upside, indicating an upcoming reversal towards previous support levels.

Sushiswap Price Analysis: SUSHI briefly moves past $9 support, rejects back to $11
SUSHI/USD 4-hour chart. Source: TradingView

Sushiswap price action has seen huge volatility so far this month. After a strong drop to the $10 mark on the 7th of September, a reversal followed after several days of consolidation.

SUSHI/USD saw a several-day rally during the month, resulting in a higher high set around $16. However, from there, bears took over the market momentum again.

SUSHI saw a steady decline most of the last week, with a new lower low set early this week around the $9 mark. From there, a slight upwards reaction was seen during the middle of the week, followed by another test of the $9 support.

Sushiswap Price Analysis: Conclusion 

Sushiswap price analysis is bearish for today as further upside gets rejected after a quick spike to the $11 resistance. Therefore, we expect SUSHI/USD to retrace some of the gains later today and likely consolidate above the previous support of $9. 

While waiting for Sushiswap to move further, read our guides on NFT Games, CoinJar, as well as Bitcoin Memes.

Disclaimer. The information provided is not trading advice. Cryptopolitan.com holds no liability for any investments made based on the information provided on this page. We strongly recommend independent research and/or consultation with a qualified professional before making any investment decisions.

Litecoin, Binance Coin, Tezos Price Analysis: 26 September

The broader market flashed a sell-off yet again, forcing many altcoins to dip on their respective charts. The likes of Litecoin, Binance Coin and Tezos were no exception either. Litecoin at its current price level was trading close to its one-month and a half-price mark. Binance Coin declined by 6.7% as it fell through its […]

Binance Coin Price Analysis: BNB spikes to $320, ready to slowly regain loss today?

Story 483575352

TL;DR Breakdown

  • Binance Coin price analysis is bullish for today.
  • BNB/USD saw another spike lower this morning.
  • BNB is rejecting further downside as of now.

Binance Coin price analysis is bullish today as the market saw another quick spike lower this morning, with bulls starting to pick up any further selling pressure. Therefore, we expect BNB/USD to reverse over the next 24 hours and look to regain some of the loss seen over the past few days.

Binance Coin Price Analysis: BNB spikes to $320, ready to slowly regain loss today? 1
Cryptocurrency heat map. Source: Coin360

The overall market traded with mixed results over the last 24 hours. The market leaders, Bitcoin and Ethereum, are up by 1.49 and 1.79 percent, respectively. Meanwhile, most of the top altcoins are in the red, with a couple of exceptions, such as UNI and LINK.

Binance Coin price movement in the last 24 hours: Binance Coin drops to $320

BNB/USD traded in a range of $320.37 – $356.37, indicating strong volatility over the last 24 hours. Trading volume has declined by 6.79 percent and totals $1.775 billion, while the total market cap trades around $58.15 billion, ranking the coin in 5th place overall.

BNB/USD 4-hour chart: BNB starts to push higher again

On the 4-hour chart, we can see the Binance Coin price action moving back above the $340 support, indicating bullish pressure over the past hours.

Binance Coin Price Analysis: BNB spikes to $320, ready to regain loss today?
BNB/USD 4-hour chart. Source: TradingView

Binance Coin price action has continued to trade in a bearish momentum this week. After sideways consolidation for most of the last week around the $390-$420 price area, BNB/USD had established a strong base from which to reverse.

However, BNB saw another strong push lower on Monday, quickly taking the market price to $340. A slight upward momentum followed during the middle of the week, with a lower high set around $385.

Another spike lower to the $340 support was set on Friday. After relatively calm trading yesterday, the Binance Coin price action declined further this morning, with bulls quickly picking up any further selling pressure.

Overall, this price action development indicates we could be seeing exhaustion for bears, and BNB/USD could see a strong reversal next week.

Binance Coin Price Analysis: Conclusion 

Binance Coin price analysis is bullish for today as the spike lower, seen this morning, currently gets regained as bullish pressure has increased. Therefore, we expect BNB/USD to move higher later today and look to return above $360 local resistance.

While waiting for Binance Coin to move further, read our guides on Decentralized Exchanges, NFT Crypto, as well as Bitcoin Memes.

Disclaimer. The information provided is not trading advice. Cryptopolitan.com holds no liability for any investments made based on the information provided on this page. We strongly recommend independent research and/or consultation with a qualified professional before making any investment decisions.

DeFi and Web 3.0: Unleashing creative juices with decentralized finance

The creator economy is one of the most rapidly developing industries, and decentralized technologies have a chance to unlock its full potential.

Decentralized technologies are starting to revolutionize the world of finance, with cryptocurrencies applied in different ways to recreate traditional financial instruments. However, since cryptocurrencies aren’t backed by anything but people’s faith in them, they are extremely volatile. That means, when it comes to loaning value with crypto, neither party can be sure that they will get a fair deal.

There needs to be a way to secure the value of the assets loaned, which can be done by backing them up with a value in the real world. Here is where the tokenization of real assets comes in. This process is pretty straightforward when we consider tangible assets like a building or gold bars, but what about intangible assets like intellectual property?

Related: Understanding the systemic shift from digitization to tokenization of financial services

The rise of the creator economy has led to intangible assets accounting for over 90% of the S&P 500’s market value, a figure that is only set to grow. There needs to be a way to unlock more creativity to realize the potential of human capital.

Kickstarting creator financing

Finding a start with financing in the creator economy is a great challenge, especially for newcomers. As many entrepreneurs in this segment discover, sometimes it is much easier to give away a good idea than to create a business out of that idea.

Creativity, by definition, disrupts what came before; it’s about new ideas, new technologies, new products, new services and new ways of doing things. Driven in large part by the digital revolution, many creative industries are not just innovative in what they do but in how they do it.

Related: Bull or bear market, creators are diving headfirst into crypto

Raising funds may be difficult for several reasons. For one, banks and investors tend to be conservative. They like certainty and are unlikely to be impressed by an enthusiastic entrepreneur convinced that an entirely new and untried idea — whether it is a design, a software tool, a fashion concept or a video game — will be a commercial success. Furthermore, banks want collateral for their loans, but many creative businesses have no capital assets to offer.

Stumbling blocks in the state of play

Investors specializing in creative industries may indeed recognize an entrepreneur’s genius. But in return for their investment, they often want some ownership of the idea and, therefore, some control over its development and marketing. This may not seem acceptable to the creative entrepreneur who prefers debt-finance in the form of a loan rather than equity finance in the form of sharing ownership and control over the work with the investor.

Alex Shkor, the founder of DEIP — a company that is building a protocol for the creator economy — explained to me, “For creators to be able to tokenize their works and collateralize them for funding, there needs to be a set of smart contracts, which can register assets on-chain, issue NFTs, evaluate assets and manage both collateralization and liquidation in case of default.”

Loan framework for the creative economy

Just as loans can be issued in the real economy based on collateral, so can they be in the creator economy.

Imagine a game developer (let’s call them Jane) who begins working on a side project. After a while and some positive encouragement from friends and family, Jane decides to take the leap into converting their side project into a full-time job. But a few months down the line, and with slower progress than first anticipated, Jane’s funds start to dwindle; they begin to consider full-time roles again. This situation is a common one for budding creators out there.

However, with a decentralized platform for intellectual assets, Jane’s progress on their work could be assessed by a decentralized assessment system that pools the expertise of people in the domain to give the unfinished creation an appraisal guided by the intrinsic value of the idea. This inherent value is used as the input for the collateralization calculation, the loan value that it can be issued for. Jane can use the loan offered to them for whatever they like; in this case, to support themself while they finish the game’s development.

Moreover, with or without collateral, a small loan can be issued to newcomers. If Jane doesn’t have any project, ready-made or part-made creation, they still have the chance for initial financing as a newcomer to the platform. The loan amount will be smaller as it is unsecured, and the loan itself is backed by the segment decentralized autonomous organization (DAO) and budgets originating from its ecosystem fund. Sources of this fund come from transaction fees and bandwidth allocation payments of the underlying blockchain.

If loans are paid back on time, Jane’s personal credit rating will be upgraded. In this case, if Jane would like to apply for another loan, the collateralization factor will be less, enabling them to borrow more.

Should Jane default on their loan, any collateralized assets are assumed by the platform and can be sold off to recoup the funds via smart liquidation contracts. If Jane hasn’t collateralized anything, the default risk is realized by the platform and covered by the DAO.

As long as the creator’s credit history is solid and positively confirmed with each new loan, the next tranche can be issued with iteratively improved terms and conditions. Credit history becomes an integral and immutable part of the reputational profile of the creator. As Shkor noted:

“he whole purpose of Web 3.0 is to enable a decentralized creator economy nd all the tech for this already exists.”

He continued, “We just need to foster adoption of these technologies in real industries, in creative industries, for the assets produced by creators. It will not only increase liquidity of the creator economy assets, it will also open a flow of capital to creators.”

The views, thoughts and opinions expressed here are the author’s alone and do not necessarily reflect or represent the views and opinions of Cointelegraph.

Alexandra Luzan is a Ph.D. student researching the connection between new technologies and art at Ca’ Foscari University in Venice. For about a decade, Alexandra has been organizing tech conferences and other events in Europe dedicated to blockchain technology and artificial intelligence. She is equally interested in the relationship between blockchain tech and art.

Fantom Launches NFT Marketplace Artion – Platform Aims to ‘Unburden Creators of High Fees’

On September 24, 2021, the Fantom Foundation announced the launch of a new non-fungible token (NFT) marketplace that aims to compete with the myriad of NFT markets out there today. The market dubbed Artion is an NFT marketplace built on the Fantom network and claims to bolster “0% commissions, with the near-zero transaction costs.”

Fantom Reveals Beta Version of the NFT Marketplace Artion

A new NFT marketplace has been announced by the Fantom Foundation following the billions of dollars worth of NFT sales stemming from veteran NFT markets that leverage the Ethereum (ETH) network like Opensea, Rarible, and Makersplace.

In more recent times, the Ethereum network, due to excessive network fees and transaction congestion, has been losing ground to other blockchains like Avalanche (AVAX), Solana (SOL), Binance Smart Chain (BSC), Terra (LUNA), Tezos (XTZ), and more. This includes taking money from decentralized finance (defi) and non-fungible token (NFT) sales as other blockchains are now offering these services.

Fantom is another blockchain network aiming to enter the fray of defi, NFTs and smart contracts. The website fantom.foundation says the protocol is a “fast, high-throughput open-source smart contract platform for digital assets and dapps.”

The platform has a native cryptocurrency called fantom (FTM) which has gained 151% in 30 days and increased by 3,070% year to date. On Friday, the Fantom Foundation announced the launch of an NFT marketplace that’s currently in beta called Artion. The NFT market is built on Fantom and will connect with wallets like Metamask and the Coinbase defi compatible wallet.

“Artion is feature-filled, open-source, fast, and inexpensive: 0% commissions, with the near-zero transaction costs and fast finality that you are used to,” the Fantom Foundation blog post details. “Artion supports Fantom-based ERC20 tokens, beginning with FUSDT, USDC, DAI, and WFTM. Future releases will add support for even more tokens— Additionally, creators can set royalties at the time of minting and earn revenue on secondary market sales,” the blog post explains.

Defi Coder Andre Cronje: ‘It’s Not About the Money… It’s About Sending a Message’

The creator of Yearn Finance and Keep3rV1, Andre Cronje is also behind the Artion NFT project. The prolific coder talked about the market in comparison to the leading NFT market Opensea in a recent interview. Following the interview, Cronje tweeted a GIF from the “Joker” movie starring Joaquin Phoenix which says “It’s not about the money… It’s about sending a message.”

The NFT marketplace already has a number of NFT collectibles featured on the web portal from art, sports, trading cards, NFTs with utility, virtual world NFTs, and more. Artion also features Chainlink price feeds as well and offers users the ability to mint their own non-fungible token collectibles. “The next release of Artion will add a built-in version of Anyswap’s Ethereum-Fantom NFT bridge for interoperability with Ethereum,” the Artion announcement further details.

The Fantom network already has a number of collections like Fantom Punks, Strange Brew, and Fantom Waifus. The Artion project is all open source and tech savvy individuals can review the code for the smart contracts, the server, the Artion-client, and the marketplace tracker. “Our mission, in short, is to unburden creators of the high-fees and constraints that limit the potential of imagination,” the Fantom Foundation concludes.

What do you think about the Fantom Foundation and Andre Cronje’s Artion NFT marketplace built on Fantom? Let us know what you think about this subject in the comments section below.

Litecoin Price Analysis: LTC swiftly retests $145 for the third time, reversal to follow next week?

Story 483575013

TL;DR Breakdown

  • Litecoin price analysis is bullish for today.
  • LTC/USD saw support at $145 for the third time this week.
  • Bulls currently reject further downside.

Litecoin price analysis is bullish today as the market found support at the $145 mark again this morning. Therefore, we expect a reversal to follow for LTC/USD today, with the $165 resistance as the next target.

Litecoin Price Analysis: LTC swiftly retests $145 for the third time, reversal to follow next week? 1
Cryptocurrency heat map. Source: Coin360

The overall market traded in the red over the last 24 hours, despite the market leader, Bitcoin, gaining 0.17 percent. Ethereum is down by 0.35 percent, with the rest of the top altcoin experiencing an even bigger loss.

Litecoin price movement in the last 24 hours: Litecoin spikes to $145, starts to trade higher

LTC/USD traded in a range of $142.55 – $155.21, indicating strong volatility over the last 24 hours. Trading volume has declined by 11.85 percent and totals $2.94 billion, while the total market cap trades around $9.87 billion, ranking the coin in 16th place overall.

LTC/USD 4-hour chart: LTC looks to move higher?

On the 4-hour chart, we can see the Litecoin price action starting to move higher again this morning, indicating further upside to follow.

Litecoin Price Analysis: LTC retests $145 for the third time, reversal to follow next week?
LTC/USD 4-hour chart. Source: TradingView

Litecoin price action saw bearish momentum return this week. After a strong drop to $170 earlier this month, we saw a several-day consolidation for LTC/USD.

Last week, LTC also set a lower high below $195, from which another strong decline began. On Monday, Litecoin price found support around the $145 mark, after a drop of 25 percent.

What followed was a reaction to the upside, with resistance found at $165. From there, LTC/USD spiked lower again on Friday, retesting the support. Since bears could not push the market below the support earlier today again, we assume that bears are exhausted overall, and the market is ready to reverse.

Litecoin Price Analysis: Conclusion 

Litecoin price analysis is bullish today as the $145 support prevented further downside again, and bulls have returned over the past hours. Therefore, we expect LTC/USD to move higher over the next 24 hours and look to return above the $165 resistance.

While waiting for Litecoin to move further, read our guides on Decentralized Exchanges, NFT Crypto, as well as Bitcoin Memes.

Disclaimer. The information provided is not trading advice. Cryptopolitan.com holds no liability for any investments made based on the information provided on this page. We strongly recommend independent research and/or consultation with a qualified professional before making any investment decisions.

Bitcoin could hit $37K but trader says BTC price top will be ‘number you can’t comprehend’

Major buyer interest below $40,000 may get filled before Bitcoin price action launches to new all-time highs and beyond.

Bitcoin (BTC) sealed another $40,000 retest on Sept. 26 as the battle for the weekly close raged on.

BTC/USD 1-hour candle chart (Bitstamp). Source: TradingView

BTC "unlikely" to linger below $40,000

Data from Cointelegraph Markets Pro and TradingView showed BTC/USD dipping to $40,800 overnight, following an earlier unsuccessful attempt by sellers to flip $40,000 back to resistance.

With stubborn conditions keeping BTC price action in a narrow range, attention on Sunday focused on where the longer-term bottom might be. Analysts also stayed conspicuously bullish on what might come afterwards.

In a series of tweets reflecting on the broader state of Bitcoin, popular trader Pentoshi eyed $37,000 as a potential floor.

"This looks healthy on the HTF's and is likely forming a base over the previous HH on the way to ATH's and potentially a HL here at the Summer PoB," popular Twitter trader Pentoshi commented in a series of tweets reflecting on the broader state of Bitcoin.

"While I believe $BTC can briefly trade as low as 37k it is unlikely to be there long."

Pentoshi noted significant buyer bids in place in the area between $36,000 and $40,000. These, as Cointelegraph also reported, are rare in terms of size. 

"We can see bids have been stacked on exchanges at those levels with the intent to fill, but the sheer size of them is something I've never seen before across most exchanges," he wrote.

"The bottom is closer than you think, and the top is likely a number you can't comprehend at this time."
BTC/USD buy/ sell levels (Binance) as of Sept. 26. Source: Material Indicators

Huobi to "retire" all Chinese users

Elsewhere, concerns over China proved equally difficult to shift from sentiment.

Related: Crypto has recovered from China's FUD over a dozen times in the last 12 years

Exchange Huobi saw 10,000 BTC inflows as it prepared to halt its Chinese operations, these nonetheless small in comparison to those witnessed even last month.

Huobi BTC balance chart. Source: Bybt

"To comply with local laws and regulations, Huobi Global has ceased account registration for new users in Mainland China, effective September 24, 2021 (UTC+8)," an announcement from the exchange released Sunday reads.

"Huobi Global will gradually retire existing Mainland China user accounts by 24:00 (UTC+8) on Dec 31, 2021, and ensure the safety of users' assets."

As Cointelegraph reported, despite the wide media coverage, nothing has changed in China's cryptocurrency stance, with its crypto ban in place and essentially unchanged since September 2017.

Bloody Weekend: Bitcoin Plunges Toward $40K, $80B Erased From the Crypto Market Cap

After the relatively positive Saturday, the bears have returned to the market and pushed bitcoin south to below $41,000. The alternative coins have also suffered badly, with ETH dropping beneath $2,800.

Bitcoin Dumps Below $41K

It’s safe to say that the past few days didn’t go well for the primary cryptocurrency. The asset was performing well until Friday, when a new set of Chinese ban statements drove it south hard. In a matter of minutes, bitcoin plummeted from above $45,000 to below $41,000.

BTC used the Saturday to recover some ground and pushed above $43,000. However, this endeavor was short-lived as it retraced beneath that level almost immediately.

It traded around $42,000 for almost a day before the bears regained control once more minutes ago. This time, the cryptocurrency fell as low as $40,800. As of now, it has bounced off and recovered a few hundred dollars, but it’s still about 1.3% down on the day.

Bitcoin’s market capitalization had dropped beneath $800 billion again, but its dominance over the alts has neared 43% as most of them have suffered even more.

BTCUSD. Source: TradingView
BTCUSD. Source: TradingView

A Sea of Red on Altcoin Street

As mentioned above, the alternative coins are in even worse shape than their leader. Ethereum has lost another 3% of value since yesterday and is well below $2,800. Cardano, the only larger-cap altcoin in green yesterday, is down by 5% today to $2.17.

Ripple and Dogecoin have marked similar losses. Binance Coin, Solana, Polkadot, Avalanche, and Terra have dumped even more in a day. As a result, BNB sits at $320, SOL at $126, DOT ($27%), AVAX ($63), and LUNA ($34).

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

 

Aside from Celer Network, which has spiked by double digits once again, most other lower- and mid-cap alts have bled out. Huobi Token (-16%), Filecoin (-12%), Celo (-11%), Fantom (-11%), THORchain (-10%), and Arweave (-10%) are a few examples.

The crypto market cap is down by nearly $100 billion in a day and $200 billion since Friday to $1.8 trillion.

Uniswap price analysis: UNI/USD targets $25

Story 483550447

TL;DR Breakdown

  • Uniswap price analysis is bullish for today.
  • UNI/USD saw another rejection above $18.3 support yesterday.
  • Uniswap is currently preparing for another surge.

Uniswap price analysis: General price overview

Today’s price analysis for Uniswap is bullish, as the market has defied additional downside at $18.3 for the second time this week. As a result, we anticipate UNI/USD to reverse and look to establish a new high early next week.

A break below $18.3 would offer an initial downside target at $16.6, while a break above $20.5 could yield further upside towards our next resistance near $23.2 (200SMA). Meanwhile, the 100SMA at $18.0 currently provides dynamic support and looks set to continue doing so.

Over the past 7 days, Uniswap has seen a strong bullish trend with consistent daily gains and losses on either side of $17.6 – $18.3, which we believe indicates a continuation of this high volatility and consolidation. Trading at its current price of around $19.0, we see Uniswap is a good buy in the short term but expect a continued bullish sentiment for some time to come.

In addition, the 200 SMA at $18.0 is currently providing dynamic support and looks set to continue doing so.

The RSI is in resistance at the 70 mark and could move back down, giving a bearish signal; however, we believe this is an extremely low probability given that: Uniswap price analysis 2019 – yesterday saw a second rejection above $18.3, and we believe it will continue to move up.

Uniswap is currently at the 30-day moving average, which has been offering dynamic resistance in recent weeks. With that in mind, we are anticipating another rally above this point which could yield further upside towards our next resistance near $23.2 (200SMA).

UNI/USD 4-hour chart: UNI set to reverse? 

We can see that the Uniswap price is moving higher on the 4-hour chart before another push is expected tomorrow.

Uniswap price analysis: UNI/USD targets $25 1UNI/USD 4-hour chart. Source: TradingView

A strong bearish trend characterizes this month’s price movement for UNI/USD pair. On September 7th, after peaking at $31, we saw a quick decline followed by several days of consolidation before culminating in a rally to $27, where a lower high was established.

Bears have again taken control of the situation, pushing UNI/USD down to $18.3 support. Another resistance was broken above the help, suggesting that price movement is ready to reverse and climb higher early next week.

Uniswap Price Analysis: Conclusion 

A strong bearish trend characterizes this month’s price movement for UNI. On September 7th, after peaking at $31, we saw a quick decline followed by several days of consolidation before culminating in a rally to $27, where a lower high was established. We believe the recent rejection above $20.5 may indicate a change in sentiment with further upside likely in the short term with targets around $22 and $25.

Disclaimer. The information provided is not trading advice. Cryptopolitan.com holds no liability for any investments made based on the information provided on this page. We strongly recommend independent research and/or consultation with a qualified professional before making any investment decisions.

Tezos price analysis: Tezos is bearish for the next 24 hours

Story 483550241

TL;DR Breakdown

  • Tezos price analysis is bearish for the next 24 hours.
  • Tezos saw a bounce from $6 support today.
  • Further upside currently gets rejected.

The market is resisting any more progress in the direction of $7.5, which was strong support earlier this week. As a result, we expect XTZ/USD to attempt to test the $7.0 support again soon.

Tezos price movement in the last 24 hours: Tezos bounces from key support levels

After a recent decline, XTZ/USD is now pushing higher. The pair was up over 5% at one point today, and after testing resistance at $6.19, it moved to $6.48 before slipping back to the upper boundary of its daily range. Trading volume has been pretty low this morning; as of writing, it stands at $157m.

The daily chart’s Stochastic indicator is on the move up to indicate a return in bullish momentum. However, RSI hasn’t followed suit, which suggests that Tezos’ climb might have already ended. This means that a drop towards the $6.00 area could come pretty soon.

The 7-day SMA has formed a bearish crossover with lower highs and higher lows, confirming the current trend reversal. XTZ/USD briefly touched on $7.50 before it took another tumble below $7.0

Tezos price analysis 4-hour chart: XTZ to go for another test of the $6 support?

On the hourly chart, we can see that the Tezos price has failed to move significantly higher today, suggesting another bearish trend overnight.

Tezos price analysis: Tezos is bearish for the next 24 hours 1XTZ/USD 4-hour chart. Source: TradingView

This month, the price of Tezos has risen significantly, with buying momentum returning. On September 7th, a new broad high-low range was established after declining to $4 on the previous day. The price found support at $5.70 and started moving higher, reaching a weekly high of $6.38 on September 12th. The price then fell back to near its opening levels at $6.50; we can see that it tested this level as resistance and has now moved lower again to the nearby support area between $7and $7.20.

Today, Tezo’s price had fallen to a low of $6.80 before it started moving higher again after testing the crucial support area between $7 and $7.20 – where buyers are waiting to jump in with their orders. XTZ/USD will likely attempt another bounce soon unless there will be further decline below $6.

On September 14th, XTZ/USD was up 100% to $8. However, the market did not continue to rise for long; instead, it reversed in the following days.

On Monday, the Tezos price fell 25%, with $6 serving as support the day before. The XTZ/USD pair has been in an upswing lately, with bearish momentum returning over the last several hours.

Tezos Price Analysis: Conclusion 

For today, the Tezos price forecast is bearish. A further decline towards the $6.00 support level is possible; if XTZ/USD drops below this mark, it will probably continue to go lower. A bounce from the $6.00 region would be a buying opportunity in our view, but history tells us that resistance at the upper boundary of the daily range could cause delays (marked by a circle on the chart).

Disclaimer. The information provided is not trading advice. Cryptopolitan.com holds no liability for any investments made based on the information provided on this page. We strongly recommend independent research and/or consultation with a qualified professional before making any investment decisions.

Avalanche price analysis: AVAX/USD is bullish for the next 24 hours

Story 483548838

TL;DR Breakdown

  • Avalanche price analysis indicates bullishness.
  • AVAX/USD retested a previous high today.
  • AVAX is currently trading at $66.3.

The market is close to the prior swing high of $73, and today’s Avalanche price analysis is bullish. We anticipate even greater gains later today as long as AVAX/USD can keep up its momentum, with a new high possible if it does so.

The price analysis for the Avalanche is bullish, with the market establishing a new higher low and beginning to advance back towards its all-time high. As a result, we expect AVAX/USD to rise even more during the next 24 hours, possibly breaching the $75 previous all-time high.

The last 2 days’ price action shows no signs of bearish continuation, usually when the price moves below the 50EMA, breaking it consecutively on the four-hour and daily price chart charts. This fact helps reinforce our belief that AVAX/USD will continue moving higher during tonight.

Avalanche price movement in the last 24 hours: Avalanche rally eyes $70 range

AVX/USD has been trading in a range of $52.01 to $65.14 for the last 24 hours, suggesting considerable volatility over the period. The total trade volume has increased by 115.54 percent and is now at $2.13 billion, while the overall market capitalization is about $14.12 billion, according to CoinMarketCap data.

The market has seen the AVX/USD pair retesting a previous swing high of $73.13, marking the top of its current trading range. The last time this price was seen on AVAX/USD was May 4; this level will likely act as significant resistance again on the next leg up.

Despite this, it is important to note that AVAX/USD is still trading above 50EMA and 100 EMA, which seem to be shifting upwards in unison with each other. This suggests that the AVX/USD market will probably see further gains in the next few hours, potentially achieving a new high later today.

AVAX/USD 4-hour chart: AVAX set to break $70?

On the 4-hour chart, we can observe the Avalanche price action attempting to break past the swing high of $65.

Avalanche price analysis: AVAX/USD is bullish for the next 24 hours 1AVAX/USD 4-hour chart. Source: TradingView

AVX/USD was relatively range-bound in the $64.55 – $68.67 region, with a trading volume of $2.1 billion. The market eventually tested the $80 support level on June 13th and was rejected, leading to a drop. The price fell below the 50EMA and until it met resistance at $76.99, where it found buyers that managed to recoup most of the losses before moving higher again.

While the 100EMA is acting as resistance, it seems likely that AVAX/USD will break past $67.5 and go straight for $69 (the 50EMA).

This comes after the market had established a new higher low at $53.97 on June 12th. The next few hours of trading should determine whether or not Avalanche bulls will break the $69 resistance and reach a new all-time high.

The previous swing high of $65 was re-established over the previous several days. After a few-day consolidation, a higher low was established there. The price of the Avalanche began to rise again late yesterday, resulting in the prior swing high of $65 in recent hours.

Avalanche Price Analysis: Conclusion 

For today, the price of the Avalanche has been trading within a range from $64 to $68.

The chart reveals that Avalanche has established a new higher low and is now advancing back towards its previous all-time high of $73.13 in the coming hours. A new all-time high seems very likely at this point, with that possibility growing even more if AVAX/USD manages to break past $75 and establish a new swing high.

Disclaimer. The information provided is not trading advice. Cryptopolitan.com holds no liability for any investments made based on the information provided on this page. We strongly recommend independent research and/or consultation with a qualified professional before making any investment decisions.

Terra Price Analysis: LUNA tests $40, but corrects downwards to $37

Story 483543120

TL;DR Breakdown

  • Terra price analysis is bullish for today.
  • LUNA/USD found support at $36 again.
  • LUNA is set for a higher swing today

For today, the Terra price analysis is favourable since a consolidation above the $34 support was observed overnight. As a result, we expect LUNA/USD to rise further over the next 24 hours and regain some of the losses incurred earlier this week.

Over the last 24 hours, the market fluctuated in a mixed manner. Bitcoin and Ethereum are both slightly up, with 1.32 and 0.2 percent gains, while Solana (SOL) continues to dominate the market with a 14 percent increase.

Terra price movement in the last 24 hours: Terra retraces to $34, forms consolidation overnight

The LUNA/USD pair is locked in a tight range of $34.11 to $36.30 over the last 24 hours, yet there’s no sign of significant movement during that period. Volumes have tumbled by 35.27 percent, with $807.78 billion worth of transactions compared to a market capitalization of $14.18 billion.

Zooming in on today’s price action, we can see a small consolidation at strong support of $34 after an attempt to break through resistance at  $36 was foiled.

There’s not much of an effort to break above $36, which means that the market is likely to continue retracing to $34/35 for another attempt at breaking out of resistance at $36. When is breakout likely? Given the strength of support at $34, today’s analysis is bullish.

LUNA/USD 4-hour chart: LUNA starts to move higher

On the hourly chart, we can see that bullish momentum is gradually returning, implying that there’ll be more upward movement later this weekend.

Terra Price Analysis: LUNA tests $40, but corrects downwards to $37 1

LUNA/USD 4-hour chart. Source: TradingView

The price of Terra has been confined to a narrow range throughout the week. After reaching a high of $45 on September 11, a solid higher high was established around $45.

Bulls, on the other hand, could not propel the market any higher after that. The market fell rapidly to $38 on the 13th of September before failing to rise beyond it.

After the price hit $35, the market began to fall again. This time, however, it found support at $34. The majority of the week was spent consolidating above this support as bulls attempted to reverse the market.

Terra Price Analysis: Conclusion 

The price of Terra is strengthening as the previous significant support was tested overnight, and bulls regain momentum. As a result, we expect LUNA/USD to rise further over the next 24 hours and target resistance at $38.

Disclaimer. The information provided is not trading advice. Cryptopolitan.com holds no liability for any investments made based on the information provided on this page. We strongly recommend independent research and/or consultation with a qualified professional before making any investment decisions.

Dominated by Institutions, Bitcoin Mining is also Possible from Home

://cryptonews.com/coins/bitcoin/">bitcoin (BTC) hit its all-time high of around USD 65,000, BTC miners generated almost USD 3bn in revenue, resulting from sales of the coins they had obtained via either block rewards or transaction fees.

Such figures would lead most people to assume that Bitcoin mining is now largely the preserve of big organizations, commercial entities with the resources to invest in the construction of large plants capable of commanding a significant slice of Bitcoin’s massive hashrate, or the computational power. However, opinion on this question is very much mixed, with at least one miner -- known on Twitter as burn the bridge (@econoalchemist) -- recently affirming that it is possible for individuals to profitably mine BTC from the comfort of their own homes.

He told Cryptonews.com that, even with relatively inexpensive ASIC miners, individuals can earn money at home by joining a pool. On the other hand, mining companies argue that Bitcoin mining will remain out of reach for the vast majority of individuals, and that most people would be better off investing in a mining firm if they want to share in its profits. 

Do-it-yourself home Bitcoin mining

Posting in mid-July, US-based Bitcoin community member econoalchemist shared data revealing that it is actually possible to make money by mining Bitcoin at home, at least if you lived in the United States and in an area of the country with relatively low electricity costs. In particular, he suggested that it’s more cost-effective mining bitcoin yourself than directly purchasing BTC with USD.

Speaking with Cryptonews.com, he explained that, contrary to what many might suppose, mining Bitcoin at home is feasible for the average US resident.

“Several ASIC distributors are located in the US, most homes have an abundant power capacity, and the average kWh rate is USD 0.13,” he said.

According to econoalchemist, an individual running a modest 80Th ASIC mining unit with a USD 0.13/kWh rate can accumulate BTC for 57% below the current market spot price. 

“Continuing with this example, it means that over the course of a month, an individual would spend USD 327.60 in electricity operating their ASIC and they would earn 0.016386 BTC, a USD 786.52 value,” he added.

Econoalchemist pointed out that there is a range of more modest hardware options for anyone intrigued by mining.

“I recommend starting small with an S9 ASIC, these cost roughly USD 450 today and they will produce roughly 8,000 to 10,000 sats [USD 4.4] per day. The newer generation ASICs will cost anywhere from USD 5,000 to USD 10,000 each right now,” he said.

He added that most individuals will get a return on their initial investment from mining profits in both USD and BTC terms within about a year, other things being equal.

“There are a lot of variables that go into these considerations like overall network hashrate, network difficulty, kWh rate, BTC market price, upfront costs, infrastructure requirements and they are constantly changing. But for the average US resident, there is a wide buffer in both how low the price of BTC can go and how high the network hashrate can get before mining at home just doesn't make sense,” he explained, noting that he explored these considerations in more detail in an article published at the end of July.

It’s not only that mining Bitcoin at home (via a mining pool) is more cost-effective than buying it directly, but that mining provides a way of obtaining BTC without having to submit to know-your-customer (KYC) regulations.

“These regulations require users to attach their personally identifiable identities to their Bitcoin activity which exposes the individual to many risks such as third-party data breaches, unrealized capital gains tax, and 6102-style confiscation. Mining Bitcoin at home mitigates these KYC associated risks but there is another benefit in that the average US resident can get more bitcoin for their money by mining it at home than they can buying it through a risky DCA [dollar-cost averaging] service,” econoalchemist said.

Counter-arguments

Not everyone agrees that mining Bitcoin at home is the best strategy for individuals.

“Bitcoin mining is increasingly out of reach for most home-based operations. Given the scarcity and buying power required to obtain new equipment, energy, and infrastructure, home miners will largely need to rely on used equipment and colocation facilities,” said Zach Bradford, the CEO and President of CleanSpark, a Nevada-based energy technology and clean Bitcoin mining company.

Bradford also noted that as mining difficulty rates increase and competition over block rewards ramp up, home-based miners will find it increasingly difficult to make a profit. He admitted that in some cases certain miners may be able to perform reasonably well, but most will on average be priced out of the mining sector.

“I could imagine a scenario where someone is able to use stranded or excess renewable energy to increase access and bring down the cost of energy but competitive mining machines would still be too expensive for most home-based operations,” he told Cryptonews.com.

These misgivings aside, not everyone operating within the mining industry holds that Bitcoin mining is out of reach of the home-based individual. For BitRiver CEO and founder Igor Runets, individuals increase the chances of making mining profitable for themselves by joining a pool.

“Although customers of our colocation services are mainly institutional mining businesses, some of our customers are actually pools of individuals who combine their resources to get bulk pricing from both the machine sellers and the datacenter that provides hosting for those machines. Somebody with modest means could also join such pools to get the most out of their resources,” he told Cryptonews.com

Opinions are also mixed on whether home-based mining has been declining in recent years, or whether it’s making at least a modest resurgence, as knowledge of its feasibility spreads.

“It has been declining in tandem with the growth of large, well-funded companies across the world that are now mining [...] Mining equipment is so specialized now that it is often out of reach for DIYers and at-home miners,” said Bradford.

On the other hand, econoalchemist suggested that based on what he himself has witnessed since the end of 2020, mining from home has actually increased.

“Up until [Bitcoin blogger/expert] Diverter wrote Mining For The Streets the narratives around home mining were negative; ‘It's too expensive to mine at home,’ ‘You can't compete with industrial-sized miners,’ ‘You would be better off buying bitcoin from an exchange.’ Well, Diverter absolutely shattered those narratives and mopped the floor with them,” he said.

Since reading Diverter’s article, econoalchemist has written his own guide on home mining, which he says has helped spread knowledge about mining and given people enough confidence to solve common mining problems (e.g. too much noise and heat) by themselves. 

“Fast forward to today and there is Steve Barbour designing the black box enclosure, Matt Odell showcasing home mining on his Citadel Dispatch podcast (Episode 31 & 38), and people like CoinHeated taking immersion cooling to the next level,” he said.

Taking a view somewhere in the middle of both poles, Igor Runets said that, while home-based mining has grown along with the popularity of cryptocurrencies since Bitcoin’s launch, industrial-scale mining has been growing much faster and accounts for most Bitcoin mining worldwide. 

“This is not only because of the increasing economic infeasibility of small-scale mining but also because of the increasing noise and heat challenges for home-based operations,” he said.

Also, there’s a new service, launched this week by Compass Mining, a US-based online marketplace for Bitcoin mining hardware and hosting. Named At-Home Mining, it is described as a direct-to-consumer service that allows purchasing Bitcoin mining equipment for the home, with an ASIC mining machine being delivered to them, allowing customers to mine Bitcoin without having to pay additional hosting facility fees.

Some tips for would-be home miners

Assuming you might like to try home-mining for yourself, there are a few things you’d need to keep in mind.

First of all, join a mining pool, since finding a block is extremely unlikely if you’re mining solo.

“Personally, I like SlushPool; it is super easy to set up, they have a cool mobile app so I can monitor my ASICs while on the go, and they are not part of the Bitcoin Mining Council. By joining a pool, you will see mining rewards trickle in every day,” said econoalchemist.

Secondly, you need to be aware that scammers may try to take advantage of your eagerness to acquire mining hardware. Fortunately, there are a few more trusted channels you can use to source equipment.

“Use the Hardware Market Verfied Listings Telegram channel. MineFarmBuy and Kaboom Racks are reputable distributors and they post ads there often. Even if the ad has a Minimum Order Quantity (MOQ) don't hesitate to reach out to the seller, they will often consolidate several small orders to reach their MOQ,” econoalchemist explained.

On the other hand, Zach Bradford suggested that most individuals would be better off investing in a trustworthy mining company. 

He says, “Do your research. Find a company that fits with your values [...] Setting up at home is probably prohibitive for most people at this point. But there are many ways to be involved in building and supporting the Bitcoin blockchain.”

____
Learn more: 
- How Bitcoin Mining Might Help Nations With Domestic Energy Production
- Bitcoin Miners Adapt Fast As EU Mulls ‘Climate-Friendly Cryptoassets’

- Bitcoin’s Hashpower Estimate Up, Transaction Fee Revenue Estimate Down
- Bitcoin Miners, Take Notice - Biden’s Plan Would Remake the US Electricity System

- 9- and 14-year-old Bitcoin, ETH, RVN Miners ‘Make USD 30,000 a Month’
- What It’s Like To Mine Bitcoin As a Full-Time Job

Tezos Price Analysis: XTZ could break past the $7.5 mark if bulls persist

Story 483541564

TL;DR Breakdown

  • Tezos price analysis is bearish for the next 24 hours.
  • Tezos saw a bounce from $6 support today.
  • Further upside currently gets rejected.

The market is presently rejecting any higher development in the direction of $7.5, which was a strong support earlier this week. As a result, we anticipate XTZ/USD to make another attempt to test the $7.0 support in the near future.

Over the past day, the market as a whole has been in the green. Bitcoin has climbed 1.85 percent, while Ethereum has advanced just 0.36 percent. Meanwhile, Solana (SOL) is the standout performer, increasing by 16%.

Tezos price movement in the last 24 hours: Tezos bounce from the $6 mark

After a recent decline against the US dollar, OST/USD is now pushing higher. The pair was up over 5% at one point today, and after testing resistance at $6.19, it moved to $6.48 before slipping back to the upper boundary of its daily range. Trading volume has been pretty low this morning; as of

XTZ/USD 4-hour chart: XTZ to go for another test of the $6 support?

On the hourly chart, we can see that the Tezos price has failed to move significantly higher today, suggesting another bearish trend overnight.

Tezos price analysis
XTZ/USD 4-hour chart. Source: TradingView

The price of Tezos has appreciated this month, with bullish momentum returning. After a drop to $4 on the 7th of September, a new sizable swing highlow was established.

On September 14th, XTZ/USD was up 100 percent to $8. However, the market did not remain there for long; instead, it reversed in the days that followed.

The Tezos price dropped 25 percent on Monday, with $6 serving as a support the day before. XTZ/USD has had a modest upward swing today, with bearish momentum returning over the past hours.

Tezos Price Analysis: Conclusion 

For today, November 13, the Tezos price analysis is bearish. Bulls were unable to propel the market higher than $6.7 today, therefore we anticipate XTZ/USD to decline overnight and attempt to recover at $6.

Read our articles on Wrapped Bitcoin, Decentralized Exchanges, as well as NFT Marketplace while you wait for Tezos to progress further.

Disclaimer. The information provided is not trading advice. Cryptopolitan.com holds no liability for any investments made based on the information provided on this page. We strongly recommend independent research and/or consultation with a qualified professional before making any investment decisions.

Vechain Price Analysis: VET corrects below $0.10, bulls aim to break the $0.11 barrier

Story 483538816

TL;DR Breakdown

  • VeChain price analysis is bullish for today.
  • VET/USD still holds above $0.09 support.
  • VET is likely to move higher today.

For today, the Vechain price analysis is bullish, as the $0.09 support level remains intact. As a result, we anticipate VET/USD to reverse and attempt to reclaim the nearest resistance at $0.123.

Over the past day, the market as a whole declined slightly. Bitcoin has dropped 1 percent, while Ethereum has lost 3.03 percent. Meanwhile, Cosmos (ATOM) is the most successful with a 9% increase.

VeChain price movement in the last 24 hours: VeChain retests $0.11 support again

The price of VET/USD fluctuated within a range of $0.1113 to $0.1155 in the past 24 hours, suggesting low volatility over this period. Trading volume has decreased by 25.59 percent and is worth $264 billion at present. Meanwhile, the total market capitalization is currently about $7.25 billion

VET/USD 4-hour chart: VET look to move higher today?

On the 4-hour chart, the VeChain price is attempting to break back above $0.09 as bulls prepare to take control once more.

Vechain Price Analysis: VET corrects below $0.10, bulls aim to break the $0.11 barrier 1

VET/USD 4-hour chart. Source: TradingView

So far this month, the VeChain price has been extremely volatile. After several days of strengthening momentum, the market price surged to $0.155, only to drop on September 7th.

VET/USD quickly dropped more than 30% until it finally stabilized at the $0.11 level. VET moved in the $0.11-$0.123 price range over the following week, with several attempts at both support and resistance, before settling back around the $0.12 mark.

Overall, this price action development suggests that we will see further consolidation. Given the current retest of the support, the VeChain price should rise over the next 24 hours and test the upper limit of trading range.

VeChain Price Analysis: Conclusion 

The VET/USD pair is enjoying a bullish run today as the market retested support at $0.11 and appears poised to reverse higher. As a result, we anticipate VET/USD to move towards the $0.123 resistance in the coming days.

While waiting for VeChain to move further, read our articles on Wrapped Bitcoin, Decentralized Exchanges, as well as NFT Marketplace.

Disclaimer. The information provided is not trading advice. Cryptopolitan.com holds no liability for any investments made based on the information provided on this page. We strongly recommend independent research and/or consultation with a qualified professional before making any investment decisions.

Litecoin Price Analysis: LTC/USD bulls couldn’t sustain the $150 mark, attempting new support

Story 483536391

TL;DR Breakdown

  • Today’s Litecoin price analysis is bullish
  • our daily Litecoin price analysis starting at an intraday low of $215 to a high of  $221
  • Litecoin is preparing for a rally

Today’s Litecoin price analysis is bullish following a market consolidation market around the $145 support overnight after a substantial decline earlier this week. Therefore, we hope that the  LTC/USD pair will undergo a reversal over the next 24 hours as the bulls aim to face further upsides. 

Litecoin price movement in the last 24 hours: Litecoin still holds above $140 support

We recorded a tight daily range on our daily Litecoin price analysis, starting at an intraday low of $140 to a high of  $155. The tight range shows the market is undergoing little volatility on the 24-hour chart. Litecoin’s daily trading volume surged by 0.41 percent to a sum of $3.84 billion, while the total market capitalization stands at $14 billion. Litecoin is ranked at position #15 overall among the top 20 altcoins by market cap. 

LTC/USD 4-hour chart: LTC set to reverse from the $165 support? 

On the 4-hour Litecoin price analysis chart, we can observe Litecoin price action preparing to retrace higher after the coin dropped towards the intraday low. Support at $15 prevented further downsides, and the price currently trades at $216. 

Litecoin Price Analysis: LTC/USD bulls couldn’t sustain the $150 mark, attempting new support 1

LTC/USD 4-hour chart. Source: TradingView

Litecoin has undergone an increase of more than 120 percent from the previous swing of $105 and the present swing high.  We are expecting the coin to record further gains in the course of the week as we enter the second week of September. 

The previous support for the Silver Bitcoin was found at $165 and has provided a good support base for upward momentum. Unless the bears overcome buying pressure above the $200 mark, we hope the bulls can sustain a strong uptrend to the $250 mark. 

Litecoin Price Analysis: Conclusion 

Our Litecoin price analysis shows increased activity around the $200 – $214 level in the background of a sustainable support base at $210. We are hoping for a retracement in the course of the day and that Litecoin will set a new daily high above $221. You can learn more about Litecoin on our Long term price forecasts for the years 2021 – 2025. 

Disclaimer. The information provided is not trading advice. Cryptopolitan.com holds no liability for any investments made based on the information provided on this page. We strongly recommend independent research and/or consultation with a qualified professional before making any investment decisions.

Uniswap Price Analysis: UNI corrects at $18, aim $21

Story 483534213

TL;DR Breakdown

  • Uniswap price analysis is bullish for today.
  • UNI spiked to $18.3 overnight.
  • Uniswap is likely to return above $21 today.

UNISWAP is in a bull market today, and the price analysis indicates that it’s going higher. The quick drop overnight resulted in a lower low set at $18.3, but considering that further downside was swiftly rejected, we anticipate UNI/USD to bounce back today and climb above the $21 support.

Over the last 24 hours, the market as a whole has fallen by 2.85%, with Bitcoin declining by 2.85 % and Ethereum shedding 4.4%. Other top coins including Solana and Filecoin have seen worse declines.

Uniswap price movement in the last 24 hours: Uniswap spikes to $18.3

UNI/USD traded in a range of $18.47 – $21.54, indicating significant volatility over the last 24 hours. Trading volume has decreased by 10.31% and totals $539.4 million, while the total market cap trades around $12.37 billion, ranking the coin in 13th place overall.

UNI/USD 4-hour chart: UNI looking to return above $21 today?

On the 4-hour chart, we can see the Uniswap price gaining momentum over the past hours as bulls want to push back above the $21 support.

Uniswap price analysis
UNI/USD 4-hour chart. Source: TradingView

Uniswap price action has seen a strong bearish momentum return this week. After an initial drop from the $31 high at the beginning of September, UNI/USD consolidated above $21 support.

From there, a strong move higher took the market to the $27 mark, where a significant swing lower high was set. However, UNI did not stay at this price level for long as bearish momentum took over again.

The Uniswap price saw another drop of 30 %, resulting in the current low set at $18.3. Considering the overall price action development, we expect UNI/USD to reverse later today and look to regain more of the loss over the remainder of this week.

Uniswap Price Analysis: Conclusion 

Uniswap price analysis is bullish for today as a new swing low has likely been set at $18.30 after another spike lower overnight. Therefore, we expect UNI/USD to reverse higher later today and move back above the $21 support.

While waiting for Uniswap to move further, read our guides on Decentralized Exchanges, NFT Crypto, as well as Bitcoin Memes.

Disclaimer. The information provided is not trading advice. Cryptopolitan.com holds no liability for any investments made based on the information provided on this page. We strongly recommend independent research and/or consultation with a qualified professional before making any investment decisions.