CRYPTO NEWS: Latest BITCOIN News, ETHEREUM News, DEFI News
Bitcoin price stayed above the USD 22,500 support.
Ethereum recovered and almost tested USD 1,600, XRP is moving higher.
MATIC rallied 12%, while SNX, APE, and CRV outperform.
After extending its correction below USD 23,000, bitcoin managed to stay above the USD 22,500 support and moved higher again. It is currently (03:50 UTC) trading near USD 22,950 and is up almost 1% in a day and 12% in a week.
Similarly, most major altcoins are showing signs of a fresh increase. ETH climbed 5% and almost retested the USD 1,600 resistance zone. XRP stayed above the key USD 0.35 support. ADA is attempting an upside break above the USD 0.50 zone.
Bitcoin price
After a downward move below USD 23,000, bitcoin price found support. BTC stayed above the key USD 22,500 zone. A base was formed and the price is now moving higher toward USD 23,000. An immediate resistance on the upside is near the USD 23,500 level. The next major resistance could be USD 24,000, above which the price could gain bullish momentum.
On the downside, an initial support is near the USD 22,800 level. The next major support is near the USD 22,500 zone, below which the price could face a strong selling interest.
Ethereum price
Ethereum price remained strong above the USD 1,450 level. ETH recovered losses and climbed above the USD 1,550 resistance zone. ETH is now up 5% in a day and 31% in a week. On the upside, the price could face sellers near USD 1,600. The next major resistance is at USD 1,625, above which the price could start another increase.
If there is no upside break, the price could revisit USD 1,550. The next major support is near USD 1,500, below which the price might retest the USD 1,450 support zone.
ADA, BNB, SOL, DOGE, and XRP price
Cardano (ADA) managed to stay above the USD 0.465 level. It is recovering losses and approaching the USD 0.50 resistance. A close above the USD 0.50 zone could start a stronger increase in the coming sessions.
BNB tested the key USD 250 support zone. It is now rising and trading above USD 262. The next major resistance is near USD 272, above which the price may perhaps rise towards the USD 288 level.
Solana (SOL) spiked below the USD 40 support zone but downsides were limited. The price is now back above USD 42 and seems like the bulls are aiming for a move toward the USD 45 level.
DOGE is attempting a fresh increase above the USD 0.0700 barrier. If the bulls succeed, the price could even surpass the USD 0.072 level. The next major resistance is near the USD 0.075 level.
XRP price is holding the USD 0.35 support zone. It is moving higher towards the USD 0.375 level. The next major resistance is near USD 0.388, above which the bulls could clear the USD 0.40 barrier.
Animoca Brands and Facebook Are Investing in the Metaverse
In the future, the game Metaverse is expected to have a market value of $21.7 trillion. The industry will be characterized by many innovations, such as blockchain and mixed-reality technology. Its growth will be aided by economics, which will be one of the driving factors in the creation of a sustainable ecosystem. Among these innovations are virtual goods, cryptocurrencies, and artificial intelligence. The Animoca Brands team is investing heavily in these technologies and is looking to leverage their existing expertise to make the Metaverse a successful business.
A metaverse will require entrepreneurs to create services, create content, and do useful things in the world. This will be accomplished by monetizing their services in an efficient manner. Entrepreneurs may choose to issue non-fungible tokens to own hour sessions. Alternatively, online cinemas can issue tokens for viewing movies over a certain period. Alternatively, the tokens can serve as passes for events or even planets. With these, the metaverse will have an economy based on cryptocurrency and blockchain.
Facebook CEO Mark Zuckerberg has acknowledged the potential of the metaverse, noting that the technology will enable a “massively expanded creative economy.” He noted that the platform will facilitate creative tools and social platforms. Furthermore, Meta will be woven into various social media platforms. The company has made investments in Horizon and other such ventures, but the hype surrounding its products has been minimal. Regardless of how exciting these new developments are, the company is not in any rush to make them available to the public.
