Bitcoin price is sideways, silver hits a 7-year high and XRP’s rally pops

Bitcoin (BTC) price spent the day trading in a tight range between $32,000 and $34,000. At the time of writing, the digital asset is pinned below the descending trendline resistance and each attempt to cross above it is met by selling.  Data from Cointelegraph Markets and TradingView show a price increase of 4.14% for the top cryptocurrency, which currently trades at $33,840. Daily cryptocurrency market performance. Source: Coin360 In light of the sideways price action, Ki Young Ju, theCEO of the cryptocurrency analysis firm CryptoQuant, spotted a potential bullish indicator…

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XRP Posts Wild “Pump and Dump” as Retail Buyers Give Whales an Exit

The Wall Street Bets phenomenon recent took a grasp of the crypto market, with an army of retail investors first targeting Dogecoin before setting their sights on XRP XRP saw some slow momentum at first, but rumors regarding a “pump and dump” Telegram chat looking to rocket its price quickly circulated This led many traders to jump into positions hoping for a quick swing trade, which further perpetuated the movement Its price rocketed from the upper-$0.20 region to highs of $0.75 overnight before it plummeted One trader is now noting…

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Blockchain tech makes sustainable development goals more achievable

United Nations Secretary-General António Guterres estimates trillions of U.S. dollars per annum is needed to achieve the 2030 Sustainable Development Goals. The question is: “Where would it come from?” Official development aid, philanthropy and public finances cannot suffice, which means the needle is moving toward private capital to fund sustainable development projects. Related: The UN’s ‘decade of delivery’ needs blockchain to succeed But the gap between financing and the environmental impact does not exude the confidence of private investors to fund development projects. India, a center of sustainability risks and…

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Blockchain will revolutionize healthcare — Just not any time soon

Over the past decade, blockchain has surpassed the hype realm into a real transformative solution for industries. Several companies are investing billions of dollars on the network; it topped LinkedIn’s list of in-demand hard skills in 2020, and articles about its potential are now littered on every finance blog. Ask those who had experienced the early internet days, and they will certainly have a lot to tell you about the feeling of deja vu that has diffused the tech space. Mainstream maximalist circles have touted blockchain as the magic solution…

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Binance Coin Sets New ATH As New User Registrations Surge

Binance Coin just set yet another new all-time high today, taking out resistance set back in 2019. With the resistance level now cleared and potentially flipped to support, what are the likely targets for the native exchange token? Binance Coin Breaks Out Alongside New User Surge Binance made its debut just ahead of the last crypto bull market came to a conclusion. Bitcoin was quickly approaching $20,000 and altcoins everywhere were soaring. Because the young crypto exchange was known for the largest list of exotic altcoins, alt season was especially…

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What short squeeze? Here’s what is really behind XRP’s recent 170% rally

Between Jan. 30 and the early hours of Feb. 1, XRP price pumped 147%, reaching $0.76 which is its highest level in two months. The move seems to have been fueled by r/Satoshistreetbets, an off-shoot of r/Wallstreetbets. It seems that speculative social media group-based investing is becoming a trend so let’s take a look at what triggers might have catalyzed the recent surge in XRP price. XRP Twitter activity vs. Price. Source: TheTie Data from TheTie, an alternative data provider focused on social analytics, shows just how significant the impact…

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Following Grayscale’s contribution, Kraken donates $100K to Coin Center

Kraken has pledged $100,000 to Coin Center, a cryptocurrency advocacy group based in Washington D.C. In a blog from the crypto exchange today, Kraken said it had donated the funds to promote Coin Center’s work in educating regulators about digital assets an advancing the rights of crypto users. The exchange said that the advocacy group “has been a vanguard for challenging policies such as the proposed STABLE act as well as recent rushed Financial Crimes Enforcement Network rulemaking.” “At a time when misinformation about this new technology remains high, we…

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ARK Invest lays out what it would take for Bitcoin to hit $70K

The Bitcoin (BTC) price could be headed a lot higher as more companies allocate a portion of their treasuries to the digital asset, according to new research from ARK Invest.  In its annual Big Ideas report, ARK said Bitcoin’s price would increase by roughly $40,000 if “all S&P 500 companies were to allocate 1% of their cash” to BTC. This scenario isn’t entirely unrealistic as support for the BTC network continues to grow. According to the report: “Based on search volumes compared to 2017, bitcoin’s price increase seems to be…

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Japanese exchange Coincheck to list fan tokens by Chiliz and Socios

Japanese cryptocurrency exchange Coincheck has partnered with major global fan token makers, Chiliz and Socios, Cointelegraph Japan reports. As part of the new partnership, Coincheck will list Chiliz and Socios’ fan tokens on Coincheck’s non-fungible token, or NFT, marketplace, the company announced Monday. Coincheck originally announced that it was considering launching an NFT platform in August 2020. According to the latest announcement, Coincheck’s platform has already listed several NFTs for five popular games and gained exposure to over 2.2 million users. Coincheck’s executive director Kensuke Amo said that the new…

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