Circle's stablecoin has overtaken USDT to become the market leader in transaction volume.
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CoinGate Integrates SHIB on Polygon and Binance Smart Chain, Expanding Crypto Payments to Major Brands like Airbnb and Nike
CoinGate, a leading cryptocurrency payment gateway, has recently expanded its offerings by integrating SHIB (Shiba Inu coin) for use on both the Polygon and Binance Smart Chain networks. This strategic move significantly broadens the utility of SHIB, allowing holders to transact with major brands such as Airbnb and Nike. This development marks a pivotal step in SHIB’s growing presence in the market, highlighting its transition from merely a speculative asset to a viable medium for everyday transactions. By incorporating SHIB on these platforms, CoinGate enhances the coin’s accessibility and usability. The selection of Polygon and Binance Smart Chain for this
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Analyst Predicts NEAR’s Market Movement
Bitcoin continues its rise amidst discussions of an altcoin rally. Analyst Credible compares NEAR's market outlook to meme coin PEPE. Continue Reading: Analyst Predicts NEAR’s Market Movement
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BDAG X1 App Revolutionizes Mining, Surpassing SOL & Avalanche with $2.5M in Sales
BlockDAG’s X1 App Surpasses Avalanche & Solana Transactions, Garnering $2.5M in Miner Sales Avalanche has impressively logged a billion transactions, signifying its substantial growth in the decentralized finance sector. Despite fluctuations in the market, Solana has maintained its strength, indicating a potential uptick in its value. With these trends, BlockDAG
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Bitcoin Not Out Of Danger Yet, NVT Golden Cross Warns
On-chain data shows the Bitcoin Network Value to Transactions (NVT) Golden Cross still has a high value, a sign that may be bearish for BTC. Bitcoin NVT Golden Cross Is Still Near Historical Top Zone In a CryptoQuant Quicktake post, an analyst discussed the recent trend in the NVT Golden Cross for BTC and its implications for the price. The NVT ratio is an indicator that tells us about how the Bitcoin market cap compares against its transaction volume. The metric is generally used to judge whether the asset’s price is fair or not right now. Related Reading: Bitcoin Hash Ribbons Form Capitulation Signal: What It Means When the indicator’s value is high, it suggests the network’s value (that is, the market cap) is high compared to its ability to transact coins (the volume). Such a trend implies that the asset may be overpriced currently. On the other hand, the low metric means the cryptocurrency’s price may be undervalued due to a rebound as the market cap is low compared to the volume. In the context of the current topic, the NVT ratio itself isn’t of interest; rather, it is a modified form called the NVT Golden Cross. This metric compares the short-term trend (the 10-day moving average) with the long-term trend (30-day MA) of the NVT ratio to identify tops and bottoms. Here is a chart that shows the trend in this Bitcoin indicator over the past couple of years: In the graph, the quant has highlighted the two relevant zones for the Bitcoin NVT Golden Cross. It would appear that when this metric is above 2.2, a top can be probable for the cryptocurrency as its price is overvalued in this zone. Similarly, the NVT Golden Cross being under -1.6 can lead to a bottom formation for the asset. The Bitcoin NVT Golden Cross has ventured into the red territory for the last couple of months. Each time it has seen a decline out of the zone, it has followed up with another rise into the zone. As such, it hasn’t been able to visit the bullish region yet. At present, the metric has just made another exit out of the top zone, but its value is still quite near it. Thus, while a top may not be especially probable now, a lasting uptrend is also unlikely to happen. Related Reading: Bitcoin Price Linked To Binance Vs Coinbase Battle, Quant Reveals It’s possible that Bitcoin won’t be completely out of danger of observing more price drawdowns until the NVT Golden Cross can see a decrease in the green zone. It now remains to be seen how the indicator develops in the near future and whether its changes will affect the BTC price. BTC Price At the time of writing, Bitcoin is floating around the $64,900 mark, up more than 4% over the past week. Featured image from Bastian Riccardi on Unsplash.com, CryptoQuant.com, chart from TradingView.com
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Oasys Partners With SBI Group’s SBINFT Market to Boost Crypto Gaming in Japan
Oasys, a blockchain network focused on gaming, has partnered with SBINFT Market, an NFT platform operated by a subsidiary of the Japanese financial conglomerate SBI Group, to expand the crypto gaming sector in Japan. The collaboration will allow developers on the Oasys platform to sell NFTs through the SBINFT Market, which now supports Oasys’ Hub-Layer
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Memecoins Jump 8% as US Inflation Falls
Memecoins are surging with intra-day trading sparking a rally in several assets as the United States inflation falls. The Consumer Price Index data which saw monthly inflation figures drop to 0.3% has occasioned a boost in crypto prices. This means that core inflation is down to 2021 levels signalling potential interest rate cuts. The stock The post Memecoins Jump 8% as US Inflation Falls appeared first on CoinGape .
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