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bitcoin price: Top Cryptocurrency Prices Today: Bitcoin, Ethereum, Uniswap gain up to 6%

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New Delhi: Major cryptocurrencies regained some ground on Tuesday after a broad-based approach by China. Following the recent volatility, six of the top 10 digital tokens were trading with tidy profits at 9:30 a.m. IST, while the remaining four were up as much as 5 percent.

Earlier this week, China’s central bank called some banks and payment institutions and asked them to immediately cut the payment channels for trading cryptocurrencies. After that, Bitcoin fell below $ 30,000 for the first time since January 2021.

Even in the technical charts, the numero uno crypto token Bitcoin formed a “death cross”, which indicates further imminent losses. Bitcoin prices have already halved from their high of $ 65,000 in April this year. Market participants cite jitter in Bitcoin mining in thin liquidity for the losses.

Michael Novogratz, founder and CEO of Galaxy Digital, told the Qatar Economic Forum that he is still a buyer of Bitcoin and that he prefers digital currency to buying gold.

Nassim Taleb, once an admirer of Bitcoin, renowned author of highly regarded books such as Black Swan and Skin in the Game, believes that the true value of the digital token is no more than zero.

Volatile market
“The past 24 hours have been massively volatile for the cryptocurrency market. Bitcoin broke the critical support level of $ 30,000 before hitting a daily low of $ 28.91. The slump was quickly followed by a short-lived recovery. It’s one of those days when stop losses have been triggered on both long and short positions, “said Edul Patel, CEO and co-founder of Mudrex.

Some investors found the silver lining of this volatility by buying the full spectrum collapse. For now, some consolidation is expected as panic in the market dwindles, he added.

At home, Indian family offices and wealthy individuals are joining the crypto train in droves. As the adoption of cryptocurrencies by global institutions increases, Indian family offices and wealthy investors have invested up to 1 billion rupees in crypto investments.

Also, the leading Indian crypto exchanges are in the final stages of joining IndiaTech, an industry association representing India’s consumer internet startups, unicorns and investors, in an effort to increase pressure on the government to regulate crypto in India.

Tech View from ZebPay Trade Desk
Bitcoin hovers around $ 34,050 and has seen slight gains over the past 24 hours. The cryptocurrency is back below the trading range formed in the last two weeks after the collapse of the long-term descending channel, this time aiming to hit the upper band of resistance on the 4-hour chart.

There were accumulation points, as shown in the graph above, around $ 31,000, despite heavy negative news about China’s extension of the Bitcoin mining ban.

We see some forms of inversion with a “morning star” pattern taking shape after the “hammer” indicating an inversion of up to $ 38,000 – $ 42,000. The pull-back post of the triple bottoms to the higher resistance line of the descending channel is a positive sign.

Outlook: positive (easier withdrawal)

Aim: $ 37,500, $ 39,000, and $ 42,000 versus $ 31,000.

Decisive support: $ 28,900 and $ 26,500

The above analysis can be negated if BTC falls below $ 27,000.

The time is in UTC and the daily time frame is 12:00 PM – 12:00 PM UTC


(The views and recommendations in this section are the analysts’ own views and recommendations and do not reflect those of ETMarkets.com. Please consult your financial advisor prior to entering into any position in any of the above assets.)

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Cryptocurrency

Crypto Crash Latest Update (May 19): Bitcoin, Ethereum, Solana, ADA, BNB to DOGE, MATIC – Top Cryptocurrencies lose upto 12%

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Crypto Crash News and Top Cryptocurrency Prices Today in India (May 19, 2022): The global crypto market cap continued to shrink further in the last 24 hours amid a prevailing sentiment of “extreme fear”. At the time of writing, global crypto market cap dropped to $1.24 trillion from the $1.29 trillion recorded on Wednesday, as per data on CoinMarketCap. Bitcoin price has also crashed to below $29,000 level.

The global cryptocurrency market volume over the last 24 hours increased by 3.44% to $80.00 billion. The total volume in DeFi was $7.31 billion, which is 9.12% of the total crypto market 24-hour volume. Stable coins volume was $70.33 billion, which is 87.68% of the total crypto market 24-hour volume.

Bitcoin price dropped below the $29,000 level, falling 3.35 percent in the last 24 hours.

Crypto Crash Update (May 18): Bitcoin, Solana, Ethereum, Cardano, DOGE, DOT crash up to 9 percent!

bitcoin price analyzers and prediction

Bitcoin price prediction: One reason why BTC market may bounce back from $30,000 level soon

crypto crash news may 18

Crypto Crash Latest Update: Bitcoin, Solana, Ethereum, Cardano, DOGE, DOT, AVAX prices crash up to 9 percent!

Bitcoin dominance rises

What is happening to Bitcoin amid global crypto market crash?

ALSO READ | What is happening to Bitcoin amid global crypto market crash?

More investors to sell Bitcoin?

Altcoins are performing worse than Bitcoin in the current market crash, indicating a lower appetite for risk among crypto traders.

Experts say that a spike in the number of Bitcoins on exchanges has been noticed, indicating there might be further sell off of the top crypto.

“BTC’s price dropped below the $29,000 level, while ETH’s price slid below $2000 over the last day. Alongside this dip, data revealed a spike in the supply of Bitcoin on exchanges. Usually, investors send their Crypto holdings to exchanges with the intention of selling,” Darshan Bathija, CEO and Co-Founder of Vauld, told FE Online.

ALSO READ | Crypto crash update on May 18

Explaining the reason behind current market crash, he said, “The effects of US Federal Reserve Chair Jerome Powell’s latest comments on adding pressure and taking ‘aggressive’ measures to address inflation were seen in the markets. Just a day after his comments, S&P 500 and Nasdaq indexes had dropped. As the traditional markets priced in the scenario, a risk-off sentiment took hold of the markets. Owing to BTC’s high correlation with the S&P, the cyryptomarkets slide down the charts, in lockstep with the equities markets.”

Top Crypto Prices

Meanwhile, many of the top crypto prices fell further in the last 24 hours. Take a look:

Ethereum (ETH): Ethereum price decreased by 5.29% to $1957 in the last 24 hours. In the last 7 days, ETH price has decreased by 3.55%. It is currently ranked second largest crypto asset in terms of market capitalization.

Binance (BNB): Binance coin’s price decreased by 2.95% to $295 in the last 24 hours. In the last 7 days, BNB price has increased by 13.2%. It is currently ranked as fifth biggest crypto asset in terms of market capitalization.

XRP: XRP coin’s price decreased by 2.53% to $0.4085 in the last 24 hours. In the last 7 days, XRP price has increased by 4.45%. It is currently ranked as 6th biggest crypto asset in terms of market capitalization.

Solana (SOL): Solana price decreased by 10.15% to $50 in the last 24 hours. In the last 7 days, SOL price has increased by 6.21%. It is currently ranked as 9th biggest crypto asset in terms of market capitalization.

Cardano (ADA): Cardano token’s price decreased by 8% to $0.5209 in the last 24 hours. In the last 7 days, ADA price has increased by 7.47%. It is currently ranked as 8th biggest crypto asset in terms of market capitalization.

Popular memecoin Dogecoin’s (DOGE) price dropped by 6.23% in the last 24 hours. DOGE is currently ranked 10th in terms of market capitalization. The price of DOGE at the time of this report was $0.08376.

Meanwhile, prices of Polkadot (DOT) and Avalanche (AVAX) declined by 9.26 and 11.87 per cent in the last 24 hours respectively. DOT and AVAX are currently ranked 11th and 13th on CoinMarketCap. Polygon (Matic( price crashed by over 10% to 0.6377 in the last 24 hours. It is currently ranked 17th on CoinMarketCap.

(Cryptos and other virtual digital assets are unregulated in India. They are considered extremely risky for investment. Please consult your financial advisor before making any investment decision)

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Robinhood to allow users hold their own crypto and NFTs

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Robinhood is handing over the keys to some of its customers’ crypto.

The trading and investing company announced Tuesday it will let users hold and custody their own cryptocurrencies and NFTs in a separate, stand-alone app. It’s the latest move in the digital asset space for Robinhood as it reaches for growth beyond stock trading. The company shares are off more than 70% since its IPO.

The new app will put Robinhood squarely in competition with Coinbase and start-ups like MetaMask. Coinbase CEO Brian Armstrong called his company’s product the most downloaded, mobile self-custody wallet in the US in a tweet Monday.

Vlad Tenev, CEO and co-founder Robinhood Markets, Inc., is displayed on a screen during his company’s IPO at the Nasdaq Market site in Times Square in New York City, US, July 29, 2021.

Brendan McDermid | Reuters

The app will let users store non-fungible tokens, and connect to NFT marketplaces and “decentralized” stock exchanges. It will also let users earn yield through other platforms and access a “variety” of crypto assets on other exchanges, Robinhood said.

Who holds, or “custodies,” someone’s cryptocurrency has become a contentious question in the industry, fueling the viral phrase “not your keys, not your coins.” Some fear of storing assets on an exchange makes them more vulnerable to hacks, or censorship.

Robinhood, which topped last year’s CNBC Disruptor 50 list, made its name by offering commission-free stock trading. Its value and user base soared during the pandemic as it ushered in a new generation of traders. The company also became the center of the meme-stock saga after restricting trading in GameStop, the highly shorted name Reddit traders bought in defiance of Wall Street short sellers.

The trading business has slowed significantly over the past year. For the three months ended March 31, Robinhood’s revenue fell 43% from a year ago. Since its public debut in August, shares have plummeted more than 70% and are more than 88% off of the all-time high.

In an effort to spur revenue and user growth, Robinhood has been adding more cryptocurrency products and features, and in late March it added extended stock trading hours. It launched an earlier version crypto of wallets to customers in April, which will still be available within the core Robinhood app.

“We believe that crypto is more than just an asset class,” Vlad Tenev, Robinhood’s co-founder and CEO said in a press release. “By offering the same low cost and great design that people have come to expect from Robinhood, our web3 wallet will make it easier for everyone to hold their own keys and experience all the opportunities that the open financial system has to offer.”

Robinhood said the new wallet will roll out with a waitlist first and will be available internationally.

The new app notably won’t charge network fees, despite Ethereum and bitcoin fees running at $70 in some cases. A Robinhood spokesperson said the crypto product will rely on third-party liquidity providers “competing” for customers’ transactions behind the scenes, in order to offset those network fees.

Robinhood makes most of its revenue off of transaction fees in its core trading business, through a brokerage-industry practice called payment for order flow.

— CNBC’s Jesse Pound contributed reporting.

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Orlando residents launch cryptocurrency group to educate and give back to international communities

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From donations to food drives, there are many ways you can give back to communities in need but three Orlando residents are turning to digital tools to support low-income families in developing countries. Chris Delgado, Fabian Kumpusch and Vance Fundora share a vision of rebuilding and impacting communities around the world.”Where can our dollar literally go the furthest?” co-founder of ‘Crypto Impact’ Vance Fundora said. The answer led them to the way they grow their own personal finances – cryptocurrency which is a type of currency that uses digital files as money. The men recently launched their group ‘Crypto Impact’ where they’re traveling abroad to help communities in poverty. “You can literally send money to an individual in need through blockchain technology where banks are shut down and you can’t really wire money like we do here in the states and those countries don’t have a cell or Venmo type thing,” co -founder of ‘Crypto Impact’ Chris Delgado said. “Normally when people donate they’re donating to a bigger cause where they’re providing food for disaster relief,” Delgado said. “This where ‘Crypto Impact’ comes into play we’re delivering specific needs to individuals and we’re there on the ground.”When WESH 2 spoke with Delgado and Fundora, their third business partner was in Vietnam where he was connecting people with clothing, food and clean water. It’s the start of future international projects that will all be funded by digital coins.”It’s just a new industry and it’s a lot of opportunity across the board in terms of technology available,” Fundora said. Being on the ground with the people they’re giving back to is vital for the men so they can educate and raise awareness. “To show not only the beauty behind crypto and bring mass adoption, but also to give in other countries where you can’t necessarily bring in hundred, 200 or 300 hundred dollars but with crypto you can,” Delgado said. The friends have plans to travel and spread ‘Crypto Impact’ to other developing countries in the future.

From donations to food drives, there are many ways you can give back to communities in need but three Orlando residents are turning to digital tools to support low-income families in developing countries.

Chris Delgado, Fabian Kumpusch and Vance Fundora share a vision of rebuilding and impacting communities around the world.

“Where can our dollar literally go the furthest?” co-founder of ‘Crypto Impact’ Vance Fundora said.

The answer led them to the way they grow their own personal finances – cryptocurrency which is a type of currency that uses digital files as money.

The men recently launched their group ‘Crypto Impact’ where they’re traveling abroad to help communities in poverty.

“You can literally send money to an individual in need through blockchain technology where banks are shut down and you can’t really wire money like we do here in the states and those countries don’t have a cell or Venmo type thing,” co -founder of ‘Crypto Impact’ Chris Delgado said.

“Normally when people donate they’re donating to a bigger cause where they’re providing food for disaster relief,” Delgado said. “This where ‘Crypto Impact’ comes into play [because] we’re delivering specific needs to individuals and we’re there on the ground.”

When WESH 2 spoke with Delgado and Fundora, their third business partner was in Vietnam where he was connecting people with clothing, food and clean water.

It’s the start of future international projects that will all be funded by digital coins.

“It’s just a new industry and it’s a lot of opportunity across the board in terms of technology available,” Fundora said.

Being on the ground with the people they’re giving back to is vital for the men so they can educate and raise awareness.

“To show not only the beauty behind crypto and bring mass adoption, but also to give in other countries where you can’t necessarily bring in hundred, 200 or 300 hundred dollars but with crypto you can,” Delgado said.

The friends have plans to travel and spread ‘Crypto Impact’ to other developing countries in the future.

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