Cryptostreet

  A popular crypto analyst warns that the price of Binance Coin BNB could soon take a massive hit, dropping to $44. Since the collapse of the FTX token FTT, investors have feared the crash of other exchange tokens such as BNB or CRO. There are also concerns that FTT will be classified as a security, setting a dangerous precedent for other exchange tokens. In addition, according to some crypto experts, Binance could use its own coins, which rank among the top ten cryptocurrencies by market cap, for reinvestments (the stablecoin BUSD and BNB). If this assumption were correct, a liquidation cascade like that of FTX could not be ruled out. During all this chaos, the popular analyst with the Twitter name "PROFIT BLUE" shared with his followers why the price could crash to $44. Will Binance Coin (BNB) Drop to $44? According to the analyst, a bearish double top pattern was developing on the monthly chart. The price then closed below the neckline shown below at $325.722 after the pri...

 How did the Shiba Inu price move in 2022?  For most of 2022, we saw a sharper drop in Shiba Inu price. Due to the bear market, meme coin has declined in value almost continuously for the past 12 months after its 2021 high. The losses in the first half of 2022 were particularly severe. The SHIB price fell from $0.000034 to $0.0000077 in mid-June. After these massive losses in the first half of the year, the fall in the price stabilized somewhat in the second half of 2022. In mid-August, the price even rose to $0.000017. But since this rally, it has been falling again almost continuously.  At the beginning of November, the SHIB price rose from $0.00001 to $0.000013. The FTX crisis erased those gains. There has been a slight, constant fall in the price over the past few weeks. Most recently, the SHIB price was around $0.000008.  Why did the Shiba Inu coin suffer such heavy losses? The Shiba Inu Coin has lost a lot of value in the last 12 months. As a meme coin, losses ...

  Ethereum founder Vitalik Buterin shows sympathy for competitor Solana (SOL) in a Dec. 30 tweet. He explained that "smart people" told him that Solana has a "passionate and smart developer community". He also opined opportunists involved with the project had been "flushed out". Buterin also hopes the Solana community will get its "fair chance" to "thrive." SOL price has fallen over 90 percent from its all-time high . In part, this is due to the coin's association with insolvent exchange FTX . Solana developers say FTX's collapse didn't harm the network itself. Crypto-Twitter was impressed by Vitalik Buterin's praise for Solana. BlockTower Capital's Ari Paul said on Twitter that more crypto companies should follow Vitalik's lead. He explained: "This is how someone behaves who likes to compete and spread positivity. You can test people in a fun way (service providers, fund managers, developers, whoever). Just...

  BMW uses blockchain technology Coinweb , a layer-2 cross-chain platform, announced Dec. 29 that it has partnered with BMW to integrate blockchain technology into the automaker's infrastructure to improve the efficiency of financial transactions. Coinweb explained that the main goal of this partnership is to bring a whole new experience to BMW customers in Thailand. To achieve this, the two companies plan to implement two different roadmaps in 2023.​ Lamborghini auctions unique NFT The 2 phases of the partnership In the first phase of the partnership, a roadmap will be created to evaluate the use of cross-chain, parallel-executing smart contracts to automate manual processes that are time and resource intensive for the company. Coinweb plans to implement a fully integrated Anti-Money Laundering (AML) and Know Your Customer (KYC) tool based on Thailand's National Digital ID (NDID) system to improve the process of applying for vehicle finance and the reduce related problems. In ...

  Cryptocurrencies use blockchain technology, which is a decentralized, digital record of transactions distributed across a network of computers . This enables transparency and security in financial transactions as the data is stored on multiple computers and can be verified by the network. Transactions are recorded in blocks, which are then added to the blockchain in a linear, chronological order. This makes it difficult to alter or manipulate transactions as any changes to previous blocks would be detectable and would require network approval. The metaverse is a virtual world or shared space created and maintained by a network of users, usually over the Internet. It is often presented as virtual reality or augmented reality, accessible and interactive through a variety of devices such as computers, smartphones, and virtual or augmented reality headsets. Metaverse Token Overall, the relationship between cryptocurrencies and the Metaverse is a growing and evolving area of ​​technol...

  Park Mo , the Vice President of Vidente and the largest shareholder of South Korean cryptocurrency exchange Bithumb, was found dead outside his home on the morning of December 30 . Before his death, Mo was the prime suspect in an investigation by South Korean prosecutors for alleged roles in embezzling funds from Bithumb-related companies and manipulating stock prices. In October 2021, the Seoul Public Prosecutor's Office launched an investigation into Park Mo. As a result, Bithumb-related companies such as Vident, Inbiogen, and Bucket Studio were seized.  The company Vident is listed on the KOSDAQ and is known to be the largest shareholder in Bithumb. The firm owns 34.22 percent of the cryptocurrency exchange.  It is believed that Mo took his own life as a result of the allegations mentioned. In the last 3 months there have been quite a few deaths within the crypto community.  On Nov. 1, Cointelegraph reported that Nikolaj Muschegian, the co-founder of crypto lend...

  Technical Analysis Solana Technical analysis of Solana daily indicators on TradingView is mostly bearish, with a summary consistent with a 'strong sell' view at 16, while the moving averages stand for a 'strong sell' at 14. Elsewhere, oscillators recommend neutrality at 8. Although the technical analysis doesn't look very optimistic, PricePredictions' machine learning-based algorithms forecast that Solana is likely to trade around $11.76 on January 1, 2023. Solana's market cap loses $1 billion ​No Ethereum Killer? Elsewhere, prominent Ethereum co-founder Vitalik Buterin talked about a potentially rather bright future for Solana. After what many have dubbed “terrible opportunistic money people” were removed from the blockchain, Buterin stated that he also hopes the Solana community will have an opportunity to continue to thrive. Is said: Some smart people tell me that there is a serious community of smart developers in Solana, and that the chain has a brigh...

  Former FTX CEO Sam Bankman-Fried (SBF) denies that he recently moved funds from Alameda Research crypto wallets after being released on bail for $250 million a few days ago. SBF denied on Twitter yesterday, December 30, that it was connected to the current money movements of the Alameda wallets in question. Accordingly, Bankman-Fried writes: "That's not me. I didn't want to and couldn't move this money at all, because I no longer have access to it." With this, SBF is directly responding to a Cointelegraph story in which we reported that a wallet with address beginning 0x64e9 received more than 600 ETH from a wallet owned by FTX sister company Alameda. As the blockchain data shows, part of the funds were directly converted into USDT, while the rest went to so-called crypto mixers. The movement of the funds and the way in which they were moved quickly caused irritation in the crypto community and raised suspicions of an insider. For many, it was therefore obvious ...

  When is volatility coming? Accordingly, as data from Cointelegraph Markets Pro and TradingView show, bitcoin price remains stuck in the $16,500 area. The market-leading cryptocurrency is thus disappointing the bulls and bears, because things have been going sideways since Christmas , although traders had expected the usual push for the weekly, monthly, quarterly and annual financial statements. “Technical resistance and liquidity on the top suggest we have a local top just below $17,000 but of course anything is possible in the Wild West,” notes Material Indicators analysts looking at the order books . In the accompanying chart, we can see that there is little support above $16,000 while there is strong resistance at $17,000. Former BitMEX CEO Arthur Hayes hopes Bitcoin does not slip below $15,500, the bottom the crypto market leader formed after the FTX debacle. “If BTC can at least hold the FTX low, then that is positive. Let's wait and see what the new year brings," the c...

  A chart could hardly look more bearish. The Bitcoin Cash course is in free fall – with no end in sight. Bitcoin Cash has been in a downtrend without a break for 13 months The Bitcoin Cash price has been in a strong downtrend since the local high in May 2021. The last 13 months have even passed without a bullish break. Nevertheless, the histogram of the MACDs in the monthly chart has been bullishly ticking higher for several months. The RSI is moving sideways with a slight bias towards oversold regions. In addition, the MACD lines in the 4H chart are bullishly crossed and the histogram of the MACDs is ticking bullishly higher. The BCH price currently still has downside potential of around 10% to its year low of around USD 87.2. If BCH breaks this support, the BCH price could correct to the all-time low of around USD 73.5. That implies downside potential of around 24%. In the weekly chart, the MACD lines are still crossed bullishly, but the histogram of the MACDs has been ticking b...