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CATEGORY: digital currencies


FTM Rockets 17% Amid Growing Interest In Fantom Ecosystem

Author: Christian Encila
United Kingdom
Sep 18, 2024 12:05

FTM Rockets 17% Amid Growing Interest In Fantom Ecosystem

Fantom (FTM) has been soaring 17% over the past week, on a quite decent trend, with strong support recorded in the area of $0.47-$0.48, data from IntoTheBlock indicates. This suggests that the price jump may be connected to increased demand and growing network interest. Related Reading: Bitcoin On Track For $92,000 Bounce In 3 Months, Analyst Predicts Approximately 1,560 addresses bought 242.56 million FTM tokens in this range, thereby providing a firm base for the recent run. Crypto trader Mister Crypto mentioned the network’s ongoing development, saying, “Its one of my major holdings, and I believe it will eventually see a massive leg up.” The trading volumes show growing interest; CoinMarketCap notes that they jumped over 150% last week. Rising Total Value Locked by $2 billion is driving expansion of the DeFi ecosystem. Will FTM, however, be able to overcome crucial resistance? Let’s dig deeper into numbers. Fantom IOMAP chart. Source: IntoTheBlock DApp Volumes Triple Overnight The Fantom ecosystem is also performing well and more so in the dApp space. According to the report by DappRadar, volumes rose from $3.4 million to $9 million within just 24 hours, showing how relevant the network was in decentralized applications. DeFi activity on Fantom has also increased much as data from DeFiLlama indicate that TVL of the network stands at $77 billion. This boom attracts not only traders but also developers and makes Fantom a strong player in the DeFi area. While these developments are promising, the actual test would be if FTM can break through its long-standing resistance level. FTM Hits Major Resistance FTM had been retesting a resistance point of $0.52 for weeks, and, with multiple pushes to break through, it has failed on many occasions, causing each failure to result in a bearish reversal, although there are signs that FTM might finally break this trend. FTM’s CMF has also flipped positive, indicating strong buying pressure. OBV is rising accompanied by an increase in trading volume. Confirmation of the trend will be coming if OBV breaks above its “smoothing line.” Breaching $0.52 will open the way for further rally to the 1.618 level at $0.63. 13. Fantom $FTM This is not a shiny new coin, but an OG coin with a lot of development behind the scenes. Its one of my major holdings, and I believe it will eventually see a massive leg up. It might take some time, but I think it will happen eventually. pic.twitter.com/hFiGts2X2N Mister Crypto (@misterrcrypto) September 10, 2024 What’s In Store For Fantom? Mister Crypto shares some optimism about the future for Fantom, saying that all the silent development work is going on in the background. He believes that though FTM may take some time to take off, the network is in for huge long-term growth. The most exciting new development lies in the Sonic upgrade, which should roll out around the end of 2024. Related Reading: Avalanche Revenue Nosedives Over 40% In Q2 Impact On AVAX Price It means Sonic will bring a new Fantom Virtual Machine, an optimized Lachesis consensus mechanism, and advanced database storage. These upgrades will help improve the network speed and scalability. All these upgrades can make the network more appealing to developers and investors alike. Looking ahead, Fantom’s strong on-chain support combined with some technical upgrades on the horizon keeps it primed and ready to display excellent growth going forward. Despite this, a push above the $0.52 resistance level remains an immediate necessity, the outlook long-term does indeed look hopeful with the Sonic upgrade and growth of DeFi. Featured image from Shrimpy Academy, chart from TradingView

41 firms join BIS Project Agora to advance unified ledger applications

Author: Cointelegraph by Derek Andersen
United States
Sep 17, 2024 12:00

41 firms join BIS Project Agora to advance unified ledger applications

The large private companies will work with seven central banks on improving structural inefficiencies in international transfers.

Sep 15, 2024 04:10

What Is the Future of Central Bank Digital Currencies (CBDC)?

In todays digital era, money is evolving fast. From cash transactions to online payments, the way we handle money has drastically changed. As physical cash becomes less common, especially during the COVID-19 pandemic due to hygiene concerns and cash shortages, more people are turning to digital transactions. Since then, banks

Tron Rises 24% Amid New Developments  Will The Uptrend Continue?

Author: Christian Encila
United Kingdom
Aug 22, 2024 12:05

Tron Rises 24% Amid New Developments Will The Uptrend Continue?

Tron (TRX) investors continue to feel bullish even as the market dips after certain on-chain developments help investor sentiment remain high. According to CoinGecko, the token has increased more than 24% since last week, a sign that investors on the platform have held TRX and accumulated to capture more gains.  Related Reading: Cardano (ADA) Nears Key Level As Analyst Eyes Over 100% Upside Details Trons developments will help TRX hold against the downward trajectory the market has taken today. However, questions remain about whether the token will continue to go against the broader market or follow the dip.  Tron On-chain Developments Drive TRX Sky High With Trons focus on stablecoin development made apparent by Tron founder Justin Sun last month, yesterday saw a big win for the platform as Tether minted over $1 billion USDT without paying any gas fees on the platform. This placed Tron in the crosshairs of critics as they questioned the no gas fee transaction with an individual pointing out that they are charged a dollar for a simple swap approval.  Our team is developing a new solution that enables gas-free stablecoin transfers. In other words, transfers can be made without paying any gas tokens, with the fees being entirely covered by the stablecoins themselves. H.E. Justin Sun (hiring) (@justinsuntron) July 6, 2024 Despite this, Tron handled a third of Visas annual settlement volume while gaining over half a billion dollars in fees in as little as 3 months. This, according to Tron, makes it clear that blockchain is more than just a buzzword. TODAY: $1B USDT minted on TRON They paid $0.00 in fees. Wow pic.twitter.com/NuNYRuj1Yc Arkham (@ArkhamIntel) August 20, 2024 TRX To Face Possible Downturn Soon? The tokens current position is an awkward balance between the bulls attempting to break through the $0.1665 ceiling and the bears also attempting the reverse by eyeing the $0.1583 floor.  As it currently stands, TRX is on an untenable position as it forces the bulls to continue buying without regard to the tokens overall momentum. The relative strength index (RSI) supports this as it nears to push the limits of the bullish momentum, with a possible cool-down period in the next couple of days.  Accounting the markets general momentum, we might see TRX stabilize on its current trading range between $0.1583 and $0.1665 in the short term. The RSIs near maxed-out value indicates a possible retracement to the $0.1532 floor before opening the floodgates to the $0.1665.  Related Reading: End Of The Slump? Floki Eyes A 46% Price Surge Analyst This scenario is possible as TRX will eventually lose its current momentum to follow the consensus dip within the broader market. The dip, although bearish in some regards, will allow the bulls to rest before building up the momentum for bigger gains.  With improving macroeconomic conditions also supporting this bullish thesis, we might more gains as capital from private equity flows to more risky investment products like crypto. For now, monitoring the broader market will benefit investors as TRX moves to more sustainable levels. Featured image from Zipmex, chart from TradingView

Louisianas new crypto law protects node operators, bans CBDC

Author: Cointelegraph by Ana Paula Pereira
United States
Jun 25, 2024 12:00

Louisianas new crypto law protects node operators, bans CBDC

The U.S. state of Louisiana has updated its legislation to ban the use of central bank digital currencies and establish rules for digital asset miners and node operators.

BIS inaugurates Toronto Innovation Centre with Bank of Canada

Author: Cointelegraph by Ezra Reguerra
United States
Jun 15, 2024 12:00

BIS inaugurates Toronto Innovation Centre with Bank of Canada

Bank of Canada Governor Tiff Macklem said that as finance evolves, the industry must innovate and apply new skills, allowing Canadians to benefit from advancements.

CBDCs, stablecoins must ensure liberty-based values  former CFTC chair

Author: Cointelegraph by Gareth Jenkinson
United States
May 09, 2024 12:00

CBDCs, stablecoins must ensure liberty-based values former CFTC chair

J. Christian Giancarlo has stressed the importance of upholding values of liberty, privacy and economic freedom in a keynote address in London.

Hong Kong central bank forms community to explore asset tokenization

Author: Cointelegraph by Helen Partz
United States
May 08, 2024 12:00

Hong Kong central bank forms community to explore asset tokenization

Regulators like HKMA and SFC united with local private sector firms like HSBC and HashKey to support the tokenization market in Hong Kong.

May 08, 2024 02:15

Joachim Nagel: Central Banks Need to Embrace Digital Currencies for Future Relevance


Bundesbank President Joachim Nagel emphasizes the need for central banks to adopt digital currencies and integrate distributed ledger technology to ensure their future relevance. (Read More)

Chinas CBDC Faces Hesitancy Among Users, Privacy Concerns Loom

Author: Aishwarya shashikumar
Estonia
May 15, 2024 02:30

Chinas CBDC Faces Hesitancy Among Users, Privacy Concerns Loom

China’s ambitious venture into the realm of Central Bank Digital Currency (CBDC) is facing hurdles as reports emerge of hesitancy among participants in the pilot program. The state-backed digital yuan, often referred to as e-CNY, is encountering resistance from users who are reluctant to hold onto it, citing various concerns regarding its utility and privacy. […]

Apr 16, 2025 04:10

The Emergence of Central Bank Digital Currencies (CBDCs) and Their Implications

The emergence of Central Bank Digital Currencies (CBDCs) is revolutionizing the international financial landscape. They are central bank-issued digital currencies designed to advance payments. Also, it enhances financial inclusion and counters the development of decentralized cryptocurrencies. As countries test or introduce CBDCs, their implications on world economies, monetary policy, and

Mar 04, 2024 05:55

Stablecoin Sector Sees $3.26 Billion Growth Spurt; Tether Nears $100B Milestone, USDE Supply Swells by 374%

The stablecoin sector experienced a $3.26 billion expansion within the last eight days, climbing from $140.82 billion to $144.08 billion by Sunday, March 3, 2024. During February, increases in supply were observed in four of the top five stablecoins by market cap, with FDUSD’s supply growth leading amongst the five. Stablecoin Economy Rises 2.31% in [...]

The post Stablecoin Sector Sees $3.26 Billion Growth Spurt; Tether Nears $100B Milestone, USDE Supply Swells by 374% appeared first on Crypto Breaking News.

Mar 04, 2024 05:55

Robert Kennedy Jr: Bitcoin Is Inflation Offramp BTC Is Key to Transactional Freedom

U.S. presidential candidate Robert F. Kennedy Jr. (RFK Jr.) says bitcoin is the offramp from central banks’ “money printing machine.” Emphasizing that bitcoin is a “hard currency,” he stressed the importance of making the cryptocurrency available to the American public. “Transactional freedom is as important as freedom of speech and you only get that from [...]

The post Robert Kennedy Jr: Bitcoin Is Inflation Offramp BTC Is Key to Transactional Freedom appeared first on Crypto Breaking News.

Jun 28, 2023 02:10

Swiss Central Bank to Launch Wholesale CBDC Soon Says Chairman Thomas Jordan

The Swiss National Bank (SNB) said it plans to issue a wholesale central bank digital currency as a pilot via SIX Digital Exchange, a subsidiary of SIX, an operator of infrastructure for the Swiss and Spanish financial centers. SNB chairman Thomas Jordan said while the Central Bank has not ruled out launching retail CBDCs, the [...]

The post Swiss Central Bank to Launch Wholesale CBDC Soon Says Chairman Thomas Jordan appeared first on Crypto Breaking News.

May 28, 2023 10:30

AI-Centric Crypto Market Loses Over $1 Billion in Value in 90 Days

Roughly three months ago, 74 AI-driven digital currencies boasted a market value exceeding $4 billion. However, since that time, the AI-centric crypto market has experienced a loss of more than $1 billion in value. The Decline in AI-Driven Cryptocurrencies: $1 Billion Wiped Out From Market At the start of the year, products incorporating artificial intelligence [...]

The post AI-Centric Crypto Market Loses Over $1 Billion in Value in 90 Days  appeared first on Crypto Breaking News.

May 28, 2023 10:30

Dogecoin’s Transaction Surge Surpasses Bitcoin and Ethereum With 2 Million Transactions Settled in 24 Hours

The Dogecoin blockchain has witnessed a significant surge in transaction activity ever since the inception of DRC20 tokens. When compared to other prominent networks, Dogecoin has stood out with its substantial volume of processed transactions. Recent statistics reveal an unprecedented milestone reached on May 27, 2023, as the number of DOGE transactions soared to a [...]

The post Dogecoin’s Transaction Surge Surpasses Bitcoin and Ethereum With 2 Million Transactions Settled in 24 Hours appeared first on Crypto Breaking News.

May 27, 2023 01:20

EAEU Official Urges BRICS and SCO for Joint Use of Digital Currencies, New Payment Card

Three integration unions with Russian participation, BRICS, SCO, and the EAEU, should adopt joint policies on the use of digital currencies, according to a top representative of one of them. He also believes the international organizations should develop a new payment system with its own bank cards. BRICS, SCO, and EAEU May Launch Common Payment

The post EAEU Official Urges BRICS and SCO for Joint Use of Digital Currencies, New Payment Card appeared first on BTC Ethereum Crypto Currency Blog.

Jul 26, 2023 10:45

Global Crypto ATM Resurgence: Net Growth Rebounds After Initial 2023 Slump

In the wake of over 5,000 crypto ATMs being taken out of service during the initial four months of 2023, the past four months have witnessed a resurgence in global crypto ATM installations. Crypto ATM Landscape Rebounds After Downturn Ever since the debut of the first bitcoin ATM in Vancouver, Canada, back in 2013, there [...]

The post Global Crypto ATM Resurgence: Net Growth Rebounds After Initial 2023 Slump appeared first on Crypto Breaking News.

May 25, 2023 10:30

Florida Governor Ron DeSantis Joins US Presidential Race, Promises to Protect Bitcoin

During a virtual discussion with Twitter’s proprietor Elon Musk on Wednesday, governor Ron DeSantis of Florida declared that he is throwing his hat into the ring for the presidency of the United States in 2024. DeSantis will confront the reigning president Joe Biden in addition to the existing presidential candidates: Donald Trump, Robert F. Kennedy [...]

The post Florida Governor Ron DeSantis Joins US Presidential Race, Promises to Protect Bitcoin appeared first on Crypto Breaking News.

Apr 23, 2023 02:15

Russia to Work With Digital Currencies of Other Nations

The platform developed for the digital ruble will be able to operate with different state-issued digital currencies, the Bank of Russia said. Mechanisms for interaction with digital coins minted by the central banks of other countries are already under development, the monetary authority unveiled. Digital Ruble Platform to Support Integration With Other CBDCs, Bank of [...]

The post Russia to Work With Digital Currencies of Other Nations appeared first on Crypto Breaking News.

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