CRYPTO NEWS: Latest BITCOIN News, ETHEREUM News, DEFI News
After closing above $38,000, the bitcoin price went up and even rose above $39,000. However, the bears showed activity near the $39,200 zone. As a result, the price shortened the rise and fell below $38,800. On the downtrend, initial support is near the $38,200 level. The next major support is near $38,000, below which the price could fall heavily.
Immediate upside resistance is near the USD 39,000 level. The main obstacle is now forming near the USD 39,200 level, above which the price could move up to USD 40,000.
Ethereum price recovered above the resistance level of USD 2,850 and rose above USD 2,880, but there was no continuation of the rise. The price remained below the USD 2,900 level and is currently consolidating losses near USD 2,850. ETH is unchanged for the day and down 5% for the week. The main resistance is still near the USD 2,920 level, above which the price could start a decent rise.
On the downside, immediate support is near USD 2,815. The next major support is near the USD 2,800 level, below which the price could return to USD 2,750.
ADA, BNB, SOL, DOGE and XRP price
Cardano (ADA) is moving up to the USD 0.80 resistance level. A close above that level could send the price to USD 0.820. The next key resistance is near the USD 0.85 level.
BNB is consolidating near the USD 390 level. On the upside, the key breakout area is near the USD 398 and USD 400 levels. On the downside, the USD 380 level is the main support.
Solana (SOL) has settled below the USD 90 level. On the downside, initial support is near the USD 85 level. The next major support is near the USD 82 level.
DOGE is consolidating above the USD 0.130 level. It is now facing resistance near the USD 0.133 level. The first major resistance is forming near the USD 0.135 level.
The XRP price is moving up to resistance at USD 0.632. If there is a clear move above the USD 0.632 level, the price may try to move above the USD 0.65 level in the near term.
Other altcoin markets today
Several altcoins are in the green, including LUNA, AVAX, LTC, LEO, ALGO, SAND, HNT, OKB, MINA and XEM.
Of these, ALGO rose 19% and surpassed $0.70 after FIFA, the world’s soccer body, announced it had teamed up with blockchain technology company Algorand for a sponsorship and technical partnership agreement. According to their announcement, Algorand will become FIFA’s official blockchain platform and provide an official solution for blockchain-enabled wallets. In addition, Algorand will become a regional sponsor of the FIFA World Cup Qatar 2022™ in North America and Europe and the official sponsor of the FIFA Women’s World Cup Australia and New Zealand 2023™.
Overall, the bitcoin price is struggling below the USD 39,000 and USD 39,200 levels. If BTC falls below USD 38,000, there is a risk of a stronger drop in the coming sessions.
The Metaverse Could Be a Money-Making Industry
If the Metaverse takes off, it will likely change the way we interact with the digital world. The blockchain-powered, community-run Metaverse is a new bubble for artists, content creators, and gamers. As an open source medium, the Metaverse may even turn into a money-making industry. Matthew Ball believes the Metaverse will be a driving force behind the creation of companies and the gateway to more digital experiences. He also believes that the Metaverse could revolutionize the way we work and play.
Animoca Brands has a proven track record of success in the metaverse space, having acquired Sandbox. The company’s success has led to the inking of 24 metaverse VC deals in the last nine quarters. Animoca Brands is also a major shareholder in NBA Top Shot developer Dapper Labs and CryptoKitties. Despite its relatively small size, Sandbox has grown into one of the most profitable metaverse ventures.
Other blockchain-based games based on the blockchain include Decentraland and SecondLive. For instance, Axie Infinity, a popular virtual reality game built on the Ethereum blockchain, allows users to own their own virtual land. The game allows users to earn virtual currency by staking them and playing other games. Microsoft unveils the Mesh platform in 2021. And then there are the video game companies, including Fortnite developer Epic Games, which has recently received $1 billion in funding. The company also announces its plans for the metaverse.
The concept of a metaverse has garnered significant hype and attention in recent months. The concept of a digital “world within a virtual environment” has caught the attention of Facebook’s CEO Mark Zuckerberg. Its developers have invested heavily in virtual reality and have rebranded the company to Meta Platforms. This rebranding will undoubtedly bring greater attention to the Metaverse and its future applications. It could also revolutionize the way we interact with the digital world.