Author: admin

Categories
Bitcoin Bitcoin Investment Investment News Metaverse

MultiversX launches strategic partnership with Google Cloud to advance AI and Big Data ambitions in the Web3 world

During an extensive conversation on stage at the xDay Conference, which featured several representatives from leading technology companies, government officials and influential experts, Beniamin Mincu, CEO of MultiversX, and Daniel Rood, Director of Web3 EMEA at Google Cloud, they just announced that they are joining. forces to accelerate the expansion of Web3.

MultiversX’s sharded architecture is capable of scaling over 100,000 transactions per second and has lately been the first choice as a backend solution for real-world applications in various fields. Due to its industry-wide innovations around token standards and smart accounts, MultiversX has been the platform of choice for Europe’s first institutional marketplace for digital assets and for Audi’s platform for virtual reality in cars, holoride, among others.

To help Web3 projects and users gain valuable insights from powerful data analytics and AI tools, BigQuery, Google Cloud’s serverless data warehouse with a built-in query engine, has completed MultiversX network integration. This has the potential to immediately speed up the execution of large-scale, data-first blockchain projects.

“There are exciting opportunities that allow Web3 developers to build and scale faster, and as we explore new verticals in the space, our partnership with MultiversX will allow us to expand our strategy and reach further and solidify our position as a key driver of innovation in the blockchain world.” added Daniel Rood, Director of Web3 EMEA

Additionally, Google Cloud’s participation in the MultiversX network allows ecosystem creators to leverage the full suite of advanced tools and services available on the platform to deliver high performance and scalability to the non-blockchain components of their dApps.

With a strong focus on ecosystem development, the collaboration between the two industry leaders had its first joint initiative at the xDay Hackathon, where hundreds of developers and startups benefit from up to $1 million in prizes and funding, while Google Cloud is the main partner of the Artificial Intelligence track.

“We are excited to introduce this collaboration as part of a strategic plan that aims to expand our ecosystem and provide important opportunities for users and developers. MultiversX is in a unique position with great potential for accelerated growth, and the additional products and services offered by Google Cloud are a key contribution to this.” said Beniamin Mincu, CEO of MultiversX

Google Cloud’s plans to expand to Web3 are one of many pioneering examples in its long history of supporting innovation and technological advancement. Lines of collaboration with MultiversX in the coming months will continue to explore deeper integration and support from the MultiversX network, as well as new ways to help startups grow and scale.

Categories
Bitcoin Bitcoin Wallet Cryptocurrency news Investment News

Coinbase launches perpetual futures for traders outside the US

Coinbase announced the launch of perpetual futures trading for its customers outside the US on Coinbase Advanced, a platform designed for sophisticated retail traders. Perpetual futures contracts allow traders to speculate on the price movements of cryptographic assets without an expiration date.

Starting today, eligible Coinbase Advanced customers in non-US jurisdictions can trade four perpetual contracts: Bitcoin (BTC), Ether (ETH), Litecoin (LTC), and XRP. These contracts are settled in USDC, a stablecoin backed by US dollars.

Users can now access perpetual futures with up to 5X leverage (except XRP at 3X) via advanced.coinbase.com, with mobile trading options coming soon. As part of an introductory promotion, customers will benefit from a low rate of 0% (maker) and 0.03% (taker).
A regulated and compliant platform

Coinbase enables perpetual futures for customers outside the US and has obtained regulatory approval from the Bermuda Monetary Authority (BMA), which is a leading digital asset regulator known for its robust crypto business oversight framework.

Also Read: Coinbase Steps Up Efforts to Crack Down on Hamas Crypto Links

In May 2023, Coinbase Exchange obtained a class F license from the BMA, allowing it to offer perpetual futures to institutions outside the US. Coinbase said it has built its perpetual futures products to strict compliance standards and aims to expand access to derivatives through Coinbase Advanced, serving a broader range of global customers.

A growing demand for crypto derivatives

Coinbase’s launch of perpetual futures coincides with a significant rise in the global crypto derivatives market. According to the CoinGecko report, as of March 2023, cryptocurrency derivatives accounted for a whopping 75% of the total cryptocurrency trading volume, which amounted to $2.95 trillion.

Categories
Bitcoin Bitcoin Investment cryptocurrency exchange Cryptocurrency news

Technical Analysis of Bitcoin and Ethereum: BTC Maintains High for Close to 2 Months After Strong US Retail Sales

Bitcoin held near a two-month high on Tuesday as markets digested the latest US retail sales figures. Sales, which represent two-thirds of the US economy, rose 0.7% in September, 0.4% more than expected. Ethereum briefly rose above $1,600.

Bitcoin

Bitcoin continued to trade above $28,000 on Tuesday following a better-than-expected increase in US retail sales.

Despite falling from a high of $30,000 on Monday, BTC/USD traded above $28,600 in today’s session.

Although gains have slowed, they are still considerably above yesterday’s low at the $27,855.21 level.

Overall, the recent uptrend means that Bitcoin is trading at its highest rate since August 18, which comes after the Relative Strength Index (RSI) broke through a key resistance level.

The index surpassed the 63.00 ceiling in yesterday’s session, reaching a peak above the 65.00 mark.

Since then, price strength has receded, although it is still slightly above the aforementioned resistance point.

Ethereum

Ethereum (ETH) fell in today’s session after briefly trading above the $1,600 mark for the first time in nearly ten days.

ETH/USD hit a high of $1,628.16 earlier in the week following a tweet from Cointelegraph suggesting that Blackrock’s spot bitcoin ETF was approved.

After these claims were proven incorrect, the cryptocurrency crashed, falling to a low of $1,570.89 today.

As a result of Tuesday’s decline, bears went on a four-day winning streak and could now reach a low of $1,540.

It is clear from the chart that the failure to surpass the 49.00 ceiling on the RSI indicator also contributed to today’s decline.

Categories
Bitcoin Bitcoin ETF cryptocurrency exchange

Estate of bankrupt crypto exchange FTX abruptly bets more than $144 million on Solana (SOL)

Property belonging to now-defunct cryptocurrency exchange FTX was just seen betting more than $144 million on Ethereum (ETH) rival Solana (SOL) as the company’s bankruptcy proceedings unfold.

According to blockchain explorer SolanaFM, the address associated with FTX and its trading arm Alameda Research created a new stake of 5,546,217.04 SOL tokens.

Analysis by pseudonymous on-chain researcher Ashpool suggests that FTX subsequently staked all the tokens through Figment, a digital asset staking service built for institutions. According to Figment, Robinhood, Binance.US and Anchorage Digital are also betting on the platform.

On Solana, bettors currently earn around 7% APY (annual percentage yield), depending on the betting platform, and rewards are distributed every two to three days.

FTX ownership already owns roughly $1 billion in Solana, but much of it is locked up until 2028 as part of its vesting schedule agreement.

Solana co-creator Anatoly Yakovenko said last month that if he had the power, he would prefer FTX’s SOL tokens to be given directly to customers of the failed exchange as part of a compensation plan.

Categories
Bitcoin Bitcoin Wallet Cryptocurrency news

Analyst predicts 1,500% price increase for Dogecoin

Recently, the price of Dogecoin (DOGE), the largest meme coin by market cap, has been struggling along with the overall cryptocurrency market. However, the latest price action shows an encouraging and positive outlook for the cryptocurrency.

Renowned crypto analyst Ali Martinez recently shared a new view of Dogecoin, speculating on an upcoming price rally for the meme token.

The formation of the Dogecoin descending triangle

Ali Martínez – through a publication on the X platform (formerly Twitter) – presented a target price of $1 for Dogecoin. This price projection revolves around the formation of a multi-year descending triangle on the weekly price chart of DOGE.

The descending triangle is a prominent technical analysis pattern that indicates a bearish market trend. While it is usually a bearish signal suggesting a breakout of the downtrend, it can also be a significant reversal pattern.

In this specific scenario, Dogecoin price has been in a continuous downward trend since May 2021. Prior to this sustained bear run, the cryptocurrency had enjoyed a parabolic rise, with DOGE price reaching the 0 level, $7 (an all-time high). . in April 2021.

As already inferred, this positive streak was short-lived, with the meme coin falling to a low of $0.058 in October 2021. While Dogecoin’s price has momentarily reached the $0.1 mark several times since then, it is currently trading in a range, and at approximately the same price of $0.058.

According to the analyst, this new bull run could cause the value of the meme coin to skyrocket to $1, which implies a significant recovery of 1,580% with respect to the current price.

Be careful with this level, says analyst

Although the chances of a new bull run seem great for Dogecoin, the possibility of a crash still looms. Specifically, Ali Martínez praised $0.0482 as a price level to watch.

This price zone, which is located at the base of the descending triangle, represents an important support zone. The analyst said that any weakness in this area could cause the DOGE price to hit a new yearly low.

At the time of writing, Dogecoin was valued at $0.059329, reflecting a 1.7% price increase from the previous day. According to data from CoinGecko, the daily trading volume of the meme token is $163.3 million, representing a negligible increase of 0.2% from the previous day.

Dogecoin remains among the top 10 cryptocurrencies on the market, with a market value of over $8.3 billion.