New Delhi: Amid fears of a major fall, major cryptocurrencies barely changed on Tuesday, with the exception of a few names. Most of the cryptocurrencies were green.
Aside from Cardano and Dogecoin, eight of the top 10 cryptocurrencies were trading higher at 9:30 a.m. IST. Solana led the winners, adding over 7 percent.
Global crypto market cap added up one percent to $ 2.07 trillion compared to last day. However, the total volume of the crypto market rose 23 percent to $ 135.74 billion.
“BTC saw a significant correction of almost 20% last week. It has been trading pretty much between $ 44,000 and $ 46,000 for the past few days, ”ZebPay said Trade Desk.
“Investors are not inactive but appear to be investing elsewhere, namely in Solana, with SOL investment products accounting for a whopping 86.6% of total weekly crypto investment product inflows last week,” she added.
Interactive Brokers Group announced that it has launched low-fee cryptocurrency trading on its platform, making it the newest online retail broker to add digital assets to its offerings.
Cryptocurrency executives should work with regulators, rather than being their adversary for the sector, to realize its potential, members of a panel on digital currencies at the Wall Street SALT conference said.
“While Bitcoin fell from $ 50,000 in late August, it is still being followed and will regain its valuation soon as institutional and retail investors continue to add it to their portfolios,” said the CoinDCX Research Team.
Walmart Inc said it was investigating how a fake press release was issued by distributor GlobeNewswire announcing a partnership with Litecoin.
UK hedge fund Brevan Howard said it plans to expand its crypto business, hire a new executive to lead private and venture investing in the space, and create a new division, BH Digital.
Tech View of Giottus Cryptocurrency Exchange
Chiliz provides sports and entertainment companies with blockchain-based tools to help them engage and monetize their audiences. CHZ is the native cryptocurrency for Chiliz blockchain-based products and services for end users.
CHZ has been the frontrunner of the ongoing NFT craze in the crypto community, posting multiple all-time highs this year despite volatility. It is now valued at nearly half its all-time high of $ 0.62, and many analysts expect it to break the $ 1 psychological resistance in the coming bull run.
For the short term, CHZ rebounded after testing the critical support at $ 0.295, forming a descending channel depicting a bullish pattern. However, CHZ is currently trading below all of its exponential moving averages – the 20-, 50-, and 200-day EMAs.
With an RSI (14) value of 50, it is also not in the oversold area. Hence, it is important to buy after an outbreak has been confirmed. On the longer frame charts, CHZ appears to be forming a cup and a handle – which is a bullish formation.
Support: $ 0.295, $ 0.278, $ 0.265
Resistance: $ 0.364, $ 0.389, $ 0.415
(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.)