Category: Crypto News

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Crypto News Market Analysis Trading

Horizen ZEN Breakout Analysis – ZEN Pumps +102% in a Week with Strong Bullish Trend

Horizen ZEN is flipping on a 1-day candle chart, ZEN has grown by a massive +102% in the past week. Let’s take a quick look at ZEN, price analysis, and possible reasons for the recent breakout.

What is Horizen?

Horizen is an inclusive ecosystem where everyone is empowered and rewarded for their contributions. Horizen’s massively scalable platform enables businesses and developers to quickly and affordably create their own public or private blockchains on the largest node network in the industry. Horizen’s Sidechain SDK provides all necessary components for easy and fast deployment of a fully customizable blockchain.

Horizen Quick Stats

SYMBOL:ZEN
Global rank:76
Market cap:$346,159,214 AUD
Current price:$32.10 AUD
All time high price:$91.50 AUD
1 day:+45.4%
7 day:+102.55%
1 year:+182.68%

Horizen Price Analysis

At the time of writing, ZEN is ranked 76th cryptocurrency globally and the current price is $32.10 AUD. This is a +102% increase since 5th January 2021 (7 days ago) as shown in the chart below.

Source: TradingView

In the past week, there was a strong rise in Bitcoin, Ethereum, and other Altcoins. As a result, Horizen ZEN also formed strong support near $16.38 AUD price levels before starting a fresh increase against the BTC pair. The down trendline that started on 25th November. is being obliterated today, huge strength and volume which both signals the reversal of a trend. Additional growth can follow for this Altcoin on different trading pairs.

Here we also have the “W” pattern with a higher low just as looking at it before starting a strong increase, there was a break above a crucial contracting triangle with resistance near $20.65 AUD on the daily chart of the ZEN/BTC. The pair gained pace above the $23.40 AUD and $24.70 AUD resistance levels.

“W pattern is a price pattern, also called Double Bottom. This pattern, when drawn it looks like the W and this is why it is called as W pattern. Sometimes patterns look like W but it is not the exact W pattern and these patterns are called Semi-W patterns.”

Source: TradingView

What do the technical indicators say?

The Horizen ZEN TradingView indicators (on the 1 day) mainly indicate ZEN as a buy, except the Oscillators which indicate ZEN as a sell.

So Why did ZEN Breakout?

The recent rise in Bitcoin over +300% since the halving in May and then the suggested start of the Altcoin season could have contributed to the recent breakout. Another reason for this sudden pump in price could be the whales secretly buying ZEN for the next Altcoins rally & it could also be contributed to some of the recent news Partnership with Messari.

Recent Horizen News & Events:

Where to Buy or Trade Horizen?

ZEN has the highest liquidity on Binance Exchange so that would help for trading ZEN/USDT or ZEN/BTC pairs. However, if you’re just looking at buying some quick and hodling then Swyftx Exchange is a popular choice in Australia.

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Australia Crypto News Payments

Australian Wristwatch Brand, Jacopo Dondi now Accepts Crypto Payments

Australian Wristwatch Brand, Jacopo Dondi now Accepts Crypto Payments

It’s no longer news that cryptocurrency adoption in Australia is increasing significantly, especially since the past year. Many investors in the country have allocated a reasonable percentage of their portfolio in one or more popular cryptos like Bitcoin (BTC), Ethereum (ETH), etc. 

Additionally, Crypto News Australia recently reported that the crypto and blockchain industry in Australia had a massive growth in the number of new companies over the past year. Perhaps, it’s quite easy to forecast that Australia is likely to see more adoption this year, as local companies are also starting to integrate support for digital currency payments.

This will allow crypto users in Australia to purchase items with digital currencies in addition to fiat currency. 

Aussie Watchmaker Embraces Cryptocurrency

Jacopo Dondi, a young watch brand based in Australia, has integrated a payment function that will enable customers in the country and beyond, to order wristwatches using cryptocurrencies. According to the information on Monday, the company is open to accepting payments with Bitcoin, Ether, and Litecoin at the moment. Thus, customers can purchase items online using these cryptos or other traditional payment mediums.

The founders of the company noted in the report that they have been investing in cryptocurrencies recently; hence the idea to start accepting them was an easy and logical step for their business.

“We understand that many people still find the volatility of cryptocurrencies a huge risk, and they certainly can be in the short term, but there is a growing number of people that have realized that this is where the world is likely heading anyway and that over a longer period of time, they’re not as risky as they appear.”

The Aussie wristwatch brand was launched through a crowdfunding platform, Kickstarter, in 2016. Following the development today, Jacopo Dondi is probably the latest company in the country to accept payments in digital currency. As cryptocurrency continues to go mainstream and price rallying, more companies in Australia are likely to follow suit.

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Bitcoin Crypto News Market Analysis

Blood Bath: Global Crypto Market Capitalization Drops to US$886 Billion Within 24hrs

Blood Bath: Global Crypto Market Capitalization Drops to US$886 Billion Within 24hrs

The new week barely started, and most coins in the cryptocurrency market find it difficult to maintain a positive price change since the past day. This has also caused a massive drop in the global valuation of the cryptocurrencies from the highly-celebrated US$1 trillion market capitalization. The drop was mostly caused by the declining value of Bitcoin (BTC), which holds a larger percentage of the market.

Bitcoin, Ether, Ripple, and Litecoin are Bleeding

From as high as US$40,000 early Sunday, the leading cryptocurrency Bitcoin dropped by more than 15 percent to US$33,000. The price of Bitcoin has declined even further to US$31,648 on Coinmarketcap at the time of writing. At that price, the cryptocurrency had a 24 hours price change of -18.40 percent. Also, the market capitalization of BTC has dropped from over US$700 billion to US$603 billion. 

Likewise, the second-largest cryptocurrency, Ether, has dropped from a four-digit priced digital currency to US$972, making a negative price change of 24.70 percent. The market capitalization of ETH also dropped to US$110 billion. Other popularly-traded coins like Ripple and Litecoin are trading at a dipping price of US$0.2677 and US$$122, respectively. Ripple currently has a market cap of $12 billion, and Litecoin has $8 billion.

Global Crypto Market Dips

The general cryptocurrency market valuation is down by 17.9 percent over the past day. From the previous valuation of around US$1 trillion, the entire crypto market is now worth lesser for US$886.75 billion, according to Coinmarketcap.

Many people see the current dips in the market as another buying opportunity to get Bitcoin and other cryptocurrencies cheaper. 

However, this might also be the start of a larger correction in the market. “It’s to be determined whether this is the start of a larger correction, but we have now seen this parabola break, so it might just be,” said Luno exchange official Vijay Ayyar.

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Crypto News Maker Market Analysis Trading

Maker Breakout Analysis – MKR Pumps +156% in a Week with Active Uptrend

Coin cryptocurrency Maker MKR and rolling dice.

Maker MKR is trading in uptrend here like many other altcoins. The Cryptocurrency MKR just went up +54% in a single day by breaking a Bullish rectangle with strong buying volume and surges over +156% in a week.

What is Maker?

Maker (MKR) is the governance token of the MakerDAO and Maker Protocol — respectively a decentralized organization and a software platform, both based on the Ethereum blockchain — that allows users to issue and manage the DAI stablecoin.

Maker Quick Stats

SYMBOL:MKR
Global rank:23
Market cap:$2,209,706,966 AUD
Current price:$2,126 AUD
All time high price:$2,548 AUD
1 day:+54.38%
7 day:+156.96%
1 year:+275.73%

MKR Price Analysis

At the time of writing, MKR is ranked 23rd cryptocurrency globally and the current price is $2,126AUD. This is a +156.96% increase since 4th January 2021 (7 days ago) as shown in the chart below.

Source: TradingView

If we see the above 1-day candle chart, MKR did a strong breakout from the bullish rectangle pattern while trading sideways from the last few days & is now heading towards its major resistance of the month. After BTC made a new all-time high in its price recently and Altcoins are also rising in a bullish trend, MKR looks well-positioned to hit the next high price levels.

“Bullish rectangles are continuation patterns that occur when a price pauses temporarily during an uptrend – they offer you a buying opportunity. … you place your profit target the same distance above the rectangle’s upper resistance level as the distance between the rectangle’s two parallel lines.”

Source: TradingView

What do the technical indicators say?

The MKR TradingView indicators (on the 1 day) mainly indicate MKR as a buy, except the Oscillators which indicate MKR as a sell.

So Why did MKR Breakout?

The recent rise in Bitcoin over +300% since the halving in May and then the suggested start of the Altcoin season could have contributed to the recent breakout. Another reason for this sudden pump in price could be the whales secretly buying MKR for the next Altcoins rally & it could also be contributed to some of the recent news of Executive Voting Portal.

Recent MKR News & Events:

Where to Buy or Trade MKR?

Maker has the highest liquidity on Binance Exchange so that would help for trading MKR/BTC or MKR/USDT pairs. However, if you’re just looking at buying some quick and hodling then Swyftx Exchange is a popular choice in Australia.

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Crypto News Market Analysis Trading

PundiX NPXS Breakout Analysis – Parabolic Breakout on NPXS with +150% Gains in a Single Day

PundiX NPXS just pumped up to +150% in a single day with a strong breakout on Binance & other Exchanges. Let’s take a quick look at the NPXS price analysis and possible reasons for the recent breakout.

What is NPXS?

Pundi X (NPXS) aims to make the use of cryptocurrency as a form of payment into a reality for retailers and consumers alike. By applying the technology to a series of real-world use cases such as cards and the XPOS point-of-sale devices, the team has built products that could accept the NPXS token for goods and services. With the goals of supporting retail intelligence, marketing & loyalty programs as well as inventory & order management systems, the Pundi X Point-of-Sale device could help to support digital commerce worldwide.

NPXS Quick Stats

SYMBOL:NPXS
Global rank:116
Market cap:$111,022,009 AUD
Current price:$0.0006 AUD
All time high price:$0.0201 AUD
1 day:+150.41%
7 day:+180.79%
1 year:+299.07%

NPXS Price Analysis

At the time of writing, NPXS is ranked 116th cryptocurrency globally and the current price is $0.0006 AUD. This is a +180.79% increase since 3rd January 2021 (7 days ago) as shown in the chart below.

Source: TradingView

If we see the above 1-day candle chart, NPXS did a strong parabolic breakout from the rising wedge pattern while trading sideways from the last few days around $0.00025 AUD price levels & is now heading towards its major resistance of the year 2020 which is $0.0012 AUD. After BTC made a new all-time high in its price and Altcoins are also rising in a bullish trend, NPXS looks well-positioned to hit the next high price levels.

“A rising wedge is a technical indicator, suggesting a reversal pattern frequently seen in bear markets. This pattern shows up in charts when the price moves upward with pivot highs and lows converging toward a single point known as the apex.”

Source: TradingView

If we zoom out and take a look at the price over the past few months or so, we can see the recent breakout more clearly, the line is almost vertical which is looks insane.

What do the technical indicators say?

The NPXS TradingView indicators (on the 1 day) mainly indicate NPXS as a buy, except the Oscillators which indicate NPXS as a neutral.

So Why did NPXS Breakout?

The recent rise in Bitcoin over +300% since the halving in May and then the suggested start of the Altcoin season could have contributed to the recent breakout. Another reason for this sudden pump in price could be the whales secretly buying NPXS for the next Altcoins rally & it could also be contributed to some of the recent news of XPOS Transactions in the United States.

Recent NPXS News & Events:

Where to Buy or Trade NPXS?

PundiX NPXS has the highest liquidity on Binance Exchange so that would help for trading NPXS/USDT or NPXS/ETH pairs. However, if you’re just looking at buying some quick and hodling then Swyftx Exchange is a popular choice in Australia.

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Crypto News

ElectroRAT: New Malware Targets Crypto Users on Windows, Linux, and Mac Devices

ElectroRAT: New Malware Targets Crypto Users on Windows, Linux, and Mac Devices

Over the past year, the cryptocurrency industry has gained a massive amount of growth in adoption, development, and awareness. This, on the other hand, has called the attention of malicious people, who are targeting cryptocurrency users with lots of fake and trojanized applications.

In a recent report, the cybersecurity researchers at Intezer informed about a so-called ElectroRAT malware, which has been developed to steal cryptocurrencies from popular operating systems. 

ElectroRAT targets multiple operating systems

According to the cybersecurity researchers, the malware is estimated to have been active since January 2020, although they only learned about it in December.

So, over the estimated time, the wide-ranging malicious operation with malware has been to steal private keys to cryptocurrency from affected users. “This extensive operation is composed of a full-fledged marketing campaign, custom cryptocurrency-related applications, and a new Remote Access Tool (RAT) written from scratch,” they wrote. 

ElectroRAT is designed to run with three different malicious applications for several operating systems, precisely Windows, Linux, and Mac.

For this reason, the malware is able to target cryptocurrency users on these popular operating systems. However, crypto users can only be affected if they download the malicious applications, which the attackers promote as a very successful trading instrument or a medium for processing several crypto transactions from a single interface.

Thousands Already Affected by ElectroRAT

By estimation, the researchers said in the report that thousands of cryptocurrency users have been infected with the ElectroRAT malware. This is “based on the number of unique visitors to the pastebin pages used to locate the command and control servers.”

One safety rule for keeping crypto is to not download any related, and unknown application pitched on any platform without thorough research. As reported, these trojanized applications were promoted on social media platforms and online forums. Secondly, it’s also advisable not to store your private keys online.

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Crypto News Litecoin

Flare Network to Support Litecoin Ahead of Q2 Launch

Flare Network to Support Litecoin Ahead of Q2 Launch

A decentralized network, Flare, which wants to bring full smart contract utility to the fourth-largest cryptocurrency Ripple (XRP), will also support Litecoin (LTC), according to the information shared on Friday. This should be a good development when launched, as it will open up more access and value for Litecoin. Also, the Flare network team mentioned on Twitter that LTC holders would equally receive the Spark (FLR) token.

More Interoperability for Litecoin

Flare is a distributed network that integrates the Ethereum Virtual Machine (EVM). The team precisely noted that they would integrate Litecoin ahead of the Flare network launch, which is scheduled to hold later in quarter two of this year. When the network finally launches, LTC holders will be able to use the cryptocurrency with “Ethereum style smart contracts,” although only on Flare. 

The development will give Litecoin “interoperability and composability,” Flare said. Additionally, the Flare foundation agreed to allocate about five billion Spark tokens to LTC holders. There wasn’t any more information provided regarding the FLR distribution method for LTC participants. However, Flare Foundation noted that its token allocation would be reduced to support the LTC holders. Hence, the estimated amount of FLR to be distributed to XRP holders won’t be changed. 

Bitcoin Next?

Having announced plans to add Litecoin to the network, Bitcoin (BTC) could be the next digital currency in line. When Flare began pushing the initiative with Ripple, the CEO, and co-founder, Hugo Philion, mentioned that they would expand the network to include other cryptocurrencies – Bitcoin and Litecoin. Meanwhile, some people think there’s some sort of rule change, as Flare previously noted that more coins would be supported only when voted by the FLR holders.

“[…]and then also in that Flare paper, it’s defined something called the Spark-derived applications, and these will allow that system to expand such that the value from other networks that are not Turing complete, like Bitcoin or Litecoin, could be replicated in the same way that FXRP is being put onto the network. That is something that will have to be a governance issue and something that Spark token holders will vote on overtime.”

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Bitcoin Crypto News Market Analysis Trading

Bitcoin Breakout Analysis – BTC Price Hits New High at $50k AUD with +33% Gains in a Week

Bitcoin hits a fresh record high above $50,000 AUD on Thursday 7th January 2021, extending a wild rally for the cryptocurrency that has seen it more than triple in value in the year 2020.

The world’s most valuable digital currency surged +33% to $50,748 AUD according to crypto market data provider Coin Metrics, taking its year-to-date gains to more than +390%.

What is Bitcoin?

Bitcoin is a decentralized cryptocurrency originally described in a 2008 whitepaper by a person, or group of people, using the alias “Satoshi Nakamoto” It was launched soon after, in January 2009.

Bitcoin is a peer-to-peer online currency, meaning that all transactions happen directly between equal, independent network participants, without the need for any intermediary to permit or facilitate them. Bitcoin was created, according to Nakamoto’s own words, to allow “online payments to be sent directly from one party to another without going through a financial institution.”

Bitcoin Quick Stats

SYMBOL:BTC
Global rank:1st
Market cap:$930,825,198,597 AUD
Current price:$50,748 AUD
All time high price:$51,676 AUD
1 day:+13.96%
7 day:+33.50%
1 year:+392.60%

Bitcoin Price Analysis

At the time of writing, Bitcoin is ranked 1st cryptocurrency globally and the current price is $50,748 AUD. This is a +33.50% increase since 2nd January 2021 (7 days ago) as shown in the chart below.

Source: TradingView

After looking at the above 4-hour candle chart, we can clearly see that Bitcoin was trading inside the rising wedge pattern on the BTC/USDT pair. The first resistance was on the $48,151 AUD price levels which BTC broke with a strong bullish trend buying volume and made a new all-time high above +$50k AUD. Seeing that the whole crypto market is waking up bullish this week, Bitcoin is likely to continue the uptrend to make new all-time high prices again if retail investors and whales keep buying due to FOMO Fear-Of-Missing-Out.

“A rising wedge is a technical indicator, suggesting a reversal pattern frequently seen in bear markets. This pattern shows up in charts when the price moves upward with pivot highs and lows converging toward a single point known as the apex.”

Source: TradingView

The cryptocurrency rose by more than +33% on Thursday to reach $50k against the AUD, extending a winning streak this year amid growing interest among big investment companies attracted to its potential for quick gains.

Bitcoin has gained more than +20% so far in January following its more than +390% gain in the year 2020, driven largely by an influx of institutional investments.

What do the Technical Indicators say?

The  Bitcoin TradingView indicators (on the 1 day) mainly indicate BTC as a buy, except the Oscillators which indicate BTC as a neutral.

So Why did Bitcoin Breakout?

The recent rise in Bitcoin over 100% since the halving in May and then the suggested start of the Altcoin season could have contributed to the recent breakout of Bitcoin. Another reason could be the whales, secretly stacking up Bitcoin to their portfolio for the next bull run rally.

A few other reasons for Bitcoin’s return to the record highs. It’s about $50,748 AUD as of this writing, matching the previous highs from 2017’s original explosion.

Bitcoin’s recent boom in value comes down to a combination of three factors:

  • Ideology,
  • Social Sentiment
  • Hope.

But although these are variable factors, this doesn’t discredit the significance of the digital economy, interest in the technology as it matures, and the influence of institutional investors in cryptocurrency, including Bitcoin. Bitcoin is in an upward market trend, also known as “bull market” territory. It was designed to increase in value over time through the rules Nakamoto wrote into its software code — which Bitcoin’s most outspoken advocates, known as “maximalists”, vehemently defend.

Recent Bitcoin News & Events:

Where to Buy or Trade Bitcoin?

Bitcoin has the highest liquidity on Binance Exchange so that would help for trading USDT/BTC pair. However, if you’re just looking at buying some quick and hodling Bitcoin then Swyftx Exchange is a popular choice in Australia.

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Crypto News India Market Analysis Trading

Cashaa CAS Breakout Analysis – CAS Trading in Active Uptrend with +27% Gains in a Week

Cashaa CAS is trading in active uptrend here like many other altcoins. The Cryptocurrency CAS just went up +17% in a single day and surges over +27% in a week. Let’s take a quick look at CAS, price analysis, and possible reasons for the recent breakout.

What is Cashaa?

Launched in October 2018, Cashaa aims to revolutionize the fintech space by banking the global crypto economy. Cashaa is the world’s first global banking platform that enables the seamless integration of both fiat and cryptocurrency within one account dashboard. In addition to the Unicas
the venture, Cashaa will be rolling out its services for personal users in the US, UK, and Europe over the next 3 months.

Cashaa claims to be the largest crypto-friendly neo-bank based in the UK, providing services to hundreds of crypto businesses around the world. CAS powers the Cashaa banking ecosystem. As the native coin of the Cashaa platform, CAS has multiple utilities such as speedy application processing, discounted set up fees, cheaper international wire cost, rebate in exchange, and transaction fees, with exclusive crypto-friendly banking services restricted for CAS holders.

CAS Quick Stats

SYMBOL:CAS
Global rank:540
Market cap:$15,080,063 AUD
Current price:$0.0252 AUD
All time high price:$0.2588 AUD
1 day:+17.04%
7 day:+27.55%
1 year:+256.02%

CAS Price Analysis

At the time of writing, CAS is ranked 540th cryptocurrency globally and the current price is $0.0252 AUD. This is a +27.55% increase since 1st January 2021 (7 days ago) as shown in the chart below.

Source: TradingView

In the past week, there was a strong rise in Bitcoin, Ethereum, and other Altcoins. As a result, Cashaa CAS also formed strong support near $0.0154 AUD before starting a fresh increase against the BTC pair.

Here we also have the “W” pattern with a higher low just as looking at it before starting a strong increase, there was a break above a crucial contracting triangle with resistance near $0.0215 AUD on the daily chart of the CAS/USDT. The pair gained pace above the $0.0240 AUD and $0.0260 AUD resistance levels.

“W pattern is a price pattern, also called Double Bottom. This pattern, when drawn it looks like the W and this is why it is called as W pattern. Sometimes patterns look like W but it is not the exact W pattern and these patterns are called Semi-W patterns.”

What do the technical indicators say?

The Cashaa CAS TradingView indicators (on the 1 day) mainly indicate CAS as a buy, except the Oscillators which indicate CAS as a neutral.

So Why did CAS Breakout?

The recent rise in Bitcoin over +200% since the halving in May and then the suggested start of the Altcoin season could have contributed to the recent breakout. Another reason could be the whales, secretly stacking up CAS to their portfolio for this Altcoins rally. It could also be contributed to some of the recent news of Partnership with Bitbns.

Recent Cashaa News & Events:

Where to Buy or Trade CAS?

Cashaa has the highest liquidity on Binance Dex Exchange so that would help for trading CAS/BNB pair. However, you can also buy CAS from different exchanges listed on Coinmarketcap.

Categories
Crypto News Ethereum

Time to Long? Ether Staked in Ethereum 2.0 Surpasses 2.29M ETH

Time to Long? Ether Staked in Ethereum 2.0 Surpasses 2.29M ETH

Ethereum users have since shown a huge level of commitment to Ethereum 2.0 staking, even after the development phase 0 was launched. For this reason and more, a significant number of Ether (ETH) has been leaving the cryptocurrency exchanges, which is quite a good development for ETH in the long term, according to industry experts. Possibly, this could also be a factor contributing to the growing price of the second-largest crypto.

At the time of writing, Ether was trading at the price of US$1,226 on Coinmarketcap, a digital currency price tracking platform. The cryptocurrency now has a market capitalization above US$140 billion.

Milestone: 2% of ETH has Been Staked

According to the information shared on Thursday by Crypto Quant, a crypto analytics platform, the number of staked ETH on the Ethereum 2.0 deposit contract is worth two percent of the crypto’s current supply. This is another evidence that many Ethereum users are optimistic about the upcoming Eth2 network. That said, it’s worth noting that the current circulating supply is 114,154,295 ETH, and the staked two percent accounts for about 2.29 million ETH.

These coins staked on the Ethereum 2.0 deposit contract cannot be withdrawn, at least until the next Eth2 development phase, thereby making the coins illiquid. Many experts relayed their thoughts that such development is quite healthy for ETH. Precisely, Ki Young Ju, the CEO of Crypto Quant, recently opined on Twitter that “illiquidity makes the ETH price go higher in the long-term.” 

With the increasing staking rate for Eth2, Ki Young Ju had mentioned on Twitter that Ether “is the most undervalued asset in crypto finance.” On January 4th, all crypto exchanges’ ETH reserves decreased by 20 percent compared to May 2020. Evidently, some of these coins are flowing to the Ethereum 2.0 deposit contract, including decentralized exchanges (DEX) or for custody. 

“Whatever it is, it’s good for $ETH as decreasing market supply. Whales might use DEX for dumping, but at the same time, DEX drives Defi growth,” he added.