Here’s Why Bitcoin Traders Should Be Favoring Longs Right Now

Bitcoin has been stalling around the high-$10,000s over the past few days despite the surged earlier this week. The coin now trades at $10,850 as of this article’s writing, a few percent shy of the local high. Analysts are certain that investors should be favoring longs right now. Here’s why they think so. Related Reading: Here’s Why This Crypto CEO Thinks BTC Soon Hits $15,000 This Is Why Bitcoin Is Primed to Move Higher One cryptocurrency trader shared the chart below, noting that he thinks sellers (short position holders) may be…

22% UniSwap (UNI) price drop doesn’t faze traders

Earlier today Yearn.finance (YFI) and Ether (ETH) rose sharply after Uniswap’s governance token UNI plunged 22% from $8.00 to $6.80. Cryptocurrency daily market performance snapshot. Source: Coin360 UNI, which launched less than 48 hours ago, has rallied from around $1.00 to $8.00 in a short period. After an impressive eight-fold gain, the token started to pull back but trading volume suggests traders have their eyes set on higher prices. YFI and ETH rallied as UNI corrected  As UNI started to make a parabolic rally from $1 onwards, the funding rate…

XRP Could Be Gearing Up for a “Moon Mission” as Bulls Reclaim Key Level

XRP and the aggregated altcoin market is currently caught within a consolidation phase as Bitcoin struggles to gain any decisive momentum. It does appear that these tokens are awaiting more directionality from BTC before they make any sizeable movements. This has, in turn, caused smaller altcoins to also fall into bouts of sideways trading. Although it remains unclear as to where the market may trend next, XRP’s recent technical developments indicate that any market-wide upside could allow it to enter a full-blown moon mission. One analyst explained in a recent…

OKEx CEO slams Binance’s Changpeng Zhao for promoting questionable DeFi projects

OKEx CEO Jay Hao called out Binance and its CEO Changpeng Zhao for their recent support of certain DeFi projects. He also claimed that Binance Smart Chain, or BSC, is highly centralized, noting that it is wholly controlled by a single team. According to Hao, BakerySwap, built on BSC, collapsed after only 12 hours, leading to protests in China and elsewhere: Source: Twitter. Today’s thread follows up on a series of tweets from September 15, in which the OKEx CEO condemned Zhao and his fellow Binance co-founder, Yi He, for their…

VeChain’s Utility Expands Through China, Indicators Flash Buy

Key Takeaways VeChain social engagement metrics skyrocketed over 600% with most interactions being bullish. The hype around it seems to be related to its incorporation into China’s Animal Health And Food Safety Alliance. A further spike in the buying pressure behind VET could see it rise towards new yearly highs. Share this article VeChain made headlines following a strategic partnership in China that could help them onboard thousands of businesses to its traceability solutions platform, VeChainThor. The Crowd Goes Wild as VeChain Aims for Mass Adoption The number of VET-related…

Uniswap’s Token UNI Stable Above $5.50 as Negative Funding Rates Soar

Uniswap’s recently released token – called UNI – has seen massive inflows of investments throughout the past day, with the large buy-side orders far outweighing the relatively small sell orders from users who received 400 tokens via an airdrop. This uptrend has been further perpetuated by multiple exchange listings, with the likes of Coinbase, FTX, and Binance all listing the token within 24-hours of its launch. This has given retail investors unprecedented access to it, which appears to be what is helping to offset the instant sell-side pressure that came about…

EU to see comprehensive crypto regulation by 2024

The European Union, or EU, plans to incorporate crypto and blockchain technology into its main processes by 2024.  Over the next four years, the economic union aims to firm up fresh regulations that will promote blockchain and digital asset usage for international money transfers, according to details from internal documents that Reuters published Friday.  The documents detailed: “By 2024, the EU should put in place a comprehensive framework enabling the uptake of distributed ledger technology (DLT) and crypto-assets in the financial sector […] It should also address the risks associated with these…

The President of Abkhazia lifts country’s ban on crypto-related activities

The de facto state of Abkhazia threw the towel on its fight against crypto mining, with the president recently announcing measures to lift the nation’s current ban.  According to Finanz.ru, Aslan Bzhania stated on Thursday that his government plans to introduce “the most optimal mechanism” to regulate crypto mining, rather than maintaining the state’s current prohibition on blockchain-related activities. Earlier this week, Ruslan Kvarchia, director of operational and technological management of the state’s official energy company, pointed to crypto mining as a major driver behind the current energy crisis affecting…

Yearn.Finance (YFI) Flies 15% Percent From Local Price Floor

Yearn.Finance continues to defy all other DeFi tokens and gravity itself with its unstoppable rise to stardom. The crypto token has bounced over 15% from its local bottom, but a fractal playing out could send YFI flying high to another new record. Yearn.Finance Flips Support As Resistance, Readies Another Rally In technical analysis, there isn’t much more significant than a support and resistance flip. When price action passes through support and confirms it as resistance, it is a sign that the range is in the past, and the market wants…