Bitcoin dangerously close to the abyss: BTC must now maintain this level

Bitcoin and the entire crypto market have stalled after the decline seen yesterday afternoon, with the bulls able to slow the decline.

This is a continuation of the all week bear friendly trend as the cryptocurrency has faced tremendous selling pressure

This all started when BTC broke below $ 19,000 for the first time as this has long been a crucial level for cryptocurrency.

Where the cryptocurrency is trending in the medium term will largely depend on where the aggregate market is heading next.

A trader now notes that there is likely to be a move towards $ 18,1000 in the near future.
He comments that this is a level of resistance – and that it takes a break above it to see a reversal.

Bitcoin and the entire cryptocurrency market haven’t seen too much upside momentum lately.

The strong uptrend that has been driving the market up for the past few months has almost gone as the bears now seek to take control. This weakness came due to Bitcoin’s inability to break above its previously set all-time highs.

A trader now notes that the cryptocurrency may be on the verge of a rebound, but there is one key level it needs to crack first.

Bitcoin is fighting for dynamism, sales pressure is growing

At the time of writing, Bitcoin is trading at $ 18,400. Where the overall market travels over the medium term will largely depend on $ 18,000 as the cryptocurrency is close to testing this previous level of support.

It remains unclear how strong the selling pressure will end up being at this level.

Analyst: BTC is ready for a reversal – if it holds $ 18,100

Regarding Bitcoin’s technical outlook , one analyst explains that BTC is currently resting at an important level of support that could help it move higher in the near future.

He believes $ 18,100 is the key level that needs to be overcome.

“BTC LTF Analysis: Currently resting on support, these are my thoughts. We could probably see a move back towards $ 18,100 to confirm it as resistance, need to see a strong S / R flip of that level to get excited. Currently flat and observant. Short sales below $ 17,600 are not the thing. “

The coming days should shed some light on Bitcoin’s response to these key levels. A break above these levels could create room for a rebound towards $ 19,000 as the week closes.

BlockFi Visa Bitcoin Rewards kreditkort: Hvad er det og er det det værd?

Dette er første gang et kreditkort tilbyder belønninger i kryptokurrency, og første gang Bitcoins logo vises på et fysisk kort.

For de nysgerrige efter kryptovalutamarkedet, men finder opsætningen for kompliceret og indviklet til at blive involveret, kan BlockFi Bitcoin Rewards-kreditkort være svaret. Som navnet antyder, tilbyder kortet belønninger i Bitcoin, når køb foretages med det. Her er et hurtigt overblik over, hvordan det fungerer, og hvad man kan forvente, hvis man tilmelder sig

Cryptocurrency er en form for digital valuta, der generelt bruger decentraliseret kontrol til at skelne den fra den digitale valuta, der kontrolleres af centralbankerne. Bitcoin, opfundet af Satoshi Nakamoto i 2008 og først frigivet som open source-software i 2009, er den mest genkendelige og en af ​​de mest stabile muligheder for kryptokurrency. Processen med at bruge kryptokurrency eller konvertere den til rigtige penge kan dog nogle gange være besvær.

BlockFi, en finansiel kryptokurrencyinstitut, der tilbyder handel med Bitcoin, har nu forenklet det med sit nye Visa-kreditkort. Selvom det endnu ikke er tilgængeligt, kan BlockFi-kunder deltage i en venteliste for at være blandt de første til at drage fordel af det nye kort. Det er første gang, at Bitcoins logo er vist på et fysisk kort, der er sort og lavet af metal. Ligesom med et normalt kreditkort får kunden en månedlig forbrugsgrænse, og hvis saldoen betales til tiden, er der en 1,5-procents tilbagebetaling, der automatisk konverteres til Bitcoin og føjes til kundens BlockFi-konto.

Er et Bitcoin Rewards-kreditkort det værd?

Det er et interessant koncept og vil bestemt være tiltalende for folk, der allerede er BlockFi-kunder. Ifølge virksomheden er 1,5 procent den højeste Bitcoin-belønningsrate, der er tilgængelig for ethvert kort på markedet. Naturligvis er det enkle faktum, at kreditkortet er et visum, en bonus, da det næsten kan bruges overalt.

Det er dog ikke et billigt kort, da det årlige gebyr er $ 200. BlockFi tilbyder det, det kalder en „tilmeldingsbonus“ på $ 250 i Bitcoin, så mens kunden stadig teknisk set skulle betale gebyret, køber det dybest set $ 250 i Bitcoin til $ 200. Indrømmet, at denne bonus også kræver, at kunden bruger mindst $ 3.000 på kortet i de første tre måneder. Afhængigt af hvor meget klienten bruger kortet, er denne bonus muligvis ikke tilgængelig. Uanset hvad ville personen stadig beskytte $ 200 hvert ekstra år uden at få noget Bitcoin til gengæld.

For dem der regelmæssigt handler med kryptokurrency, virker det måske ikke som en masse penge. Men da et af BlockFi’s mål er at hjælpe med at overbevise flere mennesker om at blive Bitcoin-ejere, er $ 200 om året dyrt – især da mange kreditkort er tilgængelige uden årlige gebyrer. I sidste ende vil tiden vise, om BlockFi Bitcoin Rewards-kreditkortet vil være en vinder eller ej. Mens kun nuværende kunder kan tilmelde sig nu, skal ventelisten gøres tilgængelig for alle, der bor i USA i januar. Herefter forventer BlockFi at sende sine Bitcoin-belønningskort fra foråret 2021.

Diese Krypto-Währung im Wert von 700 Mio. Dollar steht kurz vor ihrer ersten Halbierung sechs Monate nach Bitcoin

Im Mai erhielt Bitcoin seine lang erwartete Blockbelohnung, die um die Hälfte reduziert wurde. Die Anzahl der pro Block geprägten Münzen wurde halbiert, was viele einen massiven Anstieg erwarten ließ, da das Marktangebot an BTC technisch gesehen im Verhältnis zur Nachfrage abnehmen sollte.

Und das tat es auch… irgendwie. Seit der Halbierung hat Bitcoin gegenüber dem US-Dollar 70 bis 80 Prozent an Wert gewonnen, wobei die steigende Nachfrage nach der Kryptowährung ihren Wert in die Höhe trieb.

Aus diesem Grund beobachten Analysten die erste Halbierung von Zcash, der von Zooko Wilcox eingeführten Bitcoin-Abspaltung, die sich auf die Privatsphäre der Benutzer konzentriert, sehr genau. Jede Block-Belohnungshalbierung oder -reduzierung hat einen abnehmenden Effekt auf den Markt einer Kryptowährung, daher wird erwartet, dass die erste Halbierung für Zcash eine von Bedeutung sein wird.

Wie Qiao Wang, ein prominenter Kryptoanalyst und DeFi-Investor, kürzlich erklärte:

„Auch eine freundliche Erinnerung an die Halbierung der ZEC in einem Monat. Im Gegensatz zur 3. Halbierung der BTC, die völlig übertrieben war, ist die 1. ZEC-Halbierung wahrscheinlich von Bedeutung“.

Die Halbierung der ZCash ist nur noch Tage entfernt

Die Halbierung von ZCash steht nun in weniger als vier Tagen bevor. Sobald die Halbierung aktiviert ist, werden die Belohnungen für die 700 Millionen Dollar Kryptowährung für die Bergleute halbiert, also „halbiert“.

Theoretisch sollte dies zu höheren Preisen führen: Ein 50-prozentiger Rückgang der Blockprämien bedeutet, dass den Bergarbeitern täglich 50 Prozent weniger der Kryptowährung zum Verkauf zur Verfügung stehen. Angenommen, die Nachfrage nach der ZEC hält an, dann sollte die Münze im Laufe der Zeit im Preis steigen, sofern keine Angebotsschocks auftreten.

Nach Ansicht von Ryan Watkins, Analyst bei Messari, könnte dies jedoch nicht der Fall sein.

Er sagte kürzlich, dass die On-Chain-Daten darauf hindeuten, dass es Grund zu der Annahme gibt, dass die Bergarbeiter nur einen kleinen Teil des Verkaufsdrucks ausmachen, der die ZEC in den letzten Jahren dramatisch zum Absturz gebracht hat:

„Wenn man davon ausgeht, dass die Bergarbeiter ihre gesamte ZEC so verkaufen, wie sie sie abbauen, haben sie im vergangenen Jahr historisch gesehen nur weniger als 5% des täglichen Handelsvolumens der ZEC ausgemacht. Das Maß ist nicht perfekt, aber es ist gut genug, um zu zeigen, dass die Bergarbeiter möglicherweise nicht das sind, was die ZEC zurückhält“.

Was den Kontext betrifft, so ist die Altmünze dafür berüchtigt, zu fallen, ohne ein Gebot einzufangen, nachdem sie bei ihrer Einführung vor vier Jahren höher gehandelt wurde als Bitcoin.

Dennoch sind viele davon überzeugt, dass die ZEC langfristig ein tragfähiges Wertversprechen hat. Der pseudonyme DeFi und Krypto-Investor „DgnTec“ sagte kürzlich:

„Ich ändere meine Meinung über die ZEC. Der Bedarf an einem privaten SOV ist bei DeFi noch offensichtlicher, wo Wale im Freiwild Handel treiben und für Spitzenreiter und Beobachter, die Tugenden signalisieren, empfänglich sind“.

Ryan Selkis, CEO von Messari, schloss sich im Oktober diesem Kommentar an. Er sagte, er glaube, dass die ZEC in diesem Bullenzyklus möglicherweise ein „Trojanisches Pferd“ gewinnen könne, da ein „sauberer Opt-in-/Opt-out-Pool für den Datenschutz bei den Regulierungsbehörden Dynamik aufbaut und gleichzeitig die langfristige Fungibilität festlegt (die in der BTC wahrscheinlich nicht festgelegt wird)“.

Ethereum 2.0: staking reaches 100,000 ETH and price rises to a monthly high

Bitcoin has taken the limelight with its relentless rally, approaching its Date High (ATH). For its part, Ethereum is still far from reaching its own record.

This is the highest price Ethereum has seen since June 2018, after the crypto market bubble burst six months earlier. This time around, things are moving in a more positive direction and many industry watchers expect even bigger gains for ETH:

You can tell I’m crazy, but I really believe the $ ETH is going to rocket to $ 800 by the end of the year

A target of $ 800 for ETH is not unrealistic . Likewise, it would still be 42% below its all-time high, while Bitcoin is currently only missing 12% to reach its own ATH.

Ethereum validator Tyler Smith has set a four-digit price for ETH in the first quarter of 2021. However, this will require Beacon Chain to be launched and Bitcoin not entering a major correction phase.

Everyone is looking at Bitcoin, but people should take a huge position in $ ETH.

If the genesis of ETH2.0 (phase 0) goes well (and if Bitcoin doesn’t collapse and pull the market down in the meantime), we’ll see ETH go above $ 1,000. in the first quarter of 2021.

ETH 2.0 staking is progressing gradually

The momentum should continue to build if phase 0 of ETH 2.0 can actually see the light of day before the end of this year. For now, that seems unlikely, as the first staking, or stakes, took a long time to manifest.

According to the latest news from the Staking Progress Robot for ETH 2.0, over 100,000 ETH has now been staked. This equates to just under 20% of the total needed by November 24 to allow the Beacon Chain genesis process to take place on the scheduled date of December 1.

Few incentives for staking

While 1.8 million ETH left Uniswap over the past week, very few of them were placed in ETH 2’s depository contract. Only 23.5% of that total would be enough to reach the goal. That said, DeFi investors got another idea, and the majority have shifted to alternative protocols such as SushiSwap .

At the moment, there are few incentives to place ETH in staking, as there are no rewards until the mainnet launches. Considering the one-year lock-in obligation for staked ETHs, trading the asset or placing it in yield farms seems to be a better choice for the majority of Ethereum holders.

Pourquoi la réduction du volume des contrats à terme de Bitcoin pourrait signaler le début d’une nouvelle tendance haussière

Le volume et l’intérêt ouvert pour les contrats à terme de Bitcoin sont en baisse constante, mais cela pourrait aider à catalyser le prochain rallye.

Le volume des contrats à terme sur les bitcoins (BTC) et les intérêts en cours diminuent rapidement. Les données montrent que depuis le pic de septembre, le volume des contrats à terme BTC a chuté de 60 %, passant de plus de 25 milliards de dollars à environ 10 milliards de dollars.

Si le déclin de l’activité commerciale peut sembler être une mesure négative, il peut également indiquer l’émergence d’un cycle haussier.

Pourquoi le déclin de l’activité des marchés à terme pourrait faire monter le prix du Bitcoin

Le marché à terme des bitcoins représente la plupart des transactions à effet de levier sur le marché des bitcoins et des plateformes populaires comme Binance, BitMEX et ByBit permettent un effet de levier allant jusqu’à 125x.

Lorsque les traders sont fortement endettés, ils sont vulnérables à la liquidation. Par exemple, si un contrat long 10x placé à 10 000 $ est liquidé à 9 000 $, cela oblige l’acheteur à vendre sa position sur le marché.

En supposant qu’il y ait un grand nombre de négociants dans des positions similaires, cela augmente la pression de vente et peut catalyser une vente importante du prix du Bitcoin.

Si le marché des contrats à terme ouvre l’intérêt et que le volume augmente, cela met Bitcoin dans une position vulnérable et augmente la probabilité de liquidations en cascade comme celles qui ont eu lieu lors du tristement célèbre Jeudi noir, lorsque plus d’un milliard de dollars de contrats à terme ont été liquidés alors que le prix de Bitcoin chutait en dessous de 3 600 dollars.

La baisse du volume des contrats à terme peut être perçue comme un événement potentiellement haussier car, en règle générale, un petit mouvement de prix pourrait se transformer en une fluctuation de prix importante si des liquidations massives sont déclenchées à un certain niveau de prix.

Ainsi, la baisse du volume et l’intérêt ouvert du marché à terme pourraient préparer le terrain pour qu’un rallye stable et prolongé prenne forme.

Pendant les marchés haussiers, il y a souvent de multiples pics d’intérêt ouvert, mais le marché reste neutre pendant une période prolongée, ce qui permet au volume au comptant de reprendre. Comme le montre le graphique ci-dessous, alors que le volume du marché à terme a baissé, le volume au comptant a légèrement augmenté.

Bien qu’il ne figure pas sur le graphique, LMAX Digital, un marché au comptant de bitcoins qui s’adapte aux institutions, a récemment dépassé Coinbase pour devenir le plus grand marché au comptant. Kyle Davies, le co-fondateur de Three Arrows Capital, a expliqué :

„Indications La CTB n’est pas une industrie artisanale de niche : 1) la CTB a une forte corrélation avec les actions et les matières premières mais vous ne négociez que de la cryptographie 2) LMAX est la plus grande bourse au comptant de la CTB en USD mais vous n’y avez pas de compte 3) Tradez des entrées de milliards de dollars dont vous n’avez jamais entendu parler“.

Compte tenu de l’augmentation de la demande institutionnelle, de la hausse du volume au comptant et de la baisse des intérêts ouverts sur les contrats à terme, la tendance actuelle peut être considérée comme haussière.

Ce que les traders attendent à court terme

À court terme, les opérateurs s’attendent à une consolidation continue sous la résistance de 11 000 $, ce qui pourrait prolonger la tendance à la baisse du volume des contrats à terme.

Edward Morra, un trader de cryptocurrences, a déclaré que la liquidité montre que Bitcoin sera probablement confronté à plus de transactions latérales. Il a déclaré :

„Mes perspectives actuelles, soit le sommet local est en place, soit un autre pic pour sortir des stops. Beaucoup de liquidité en dessous du prix“.

Le géant des paiements PayPal prévoit d’acquérir la plate-forme de garde de bitcoins BitGo.

Le géant des paiements PayPal est en pourparlers avec la plateforme de garde de bitcoins BitGo, qui prévoit de racheter la société. Cette acquisition pourrait accroître l’exposition de PayPal aux devises numériques.

PayPal prévoit d’acquérir la plate-forme de conservation de bitcoins BitGo. L’acquisition pourrait accroître l’exposition de PayPal aux devises numériques.

PayPal prévoit d’acquérir la plateforme de conservation de bitcoins BitGo. Cette acquisition pourrait accroître l’exposition de PayPal aux devises numériques.

PayPal est en pourparlers avec quelques grandes sociétés de cryptologie monétaire, dont le fournisseur de garde de Bitcoin Revolution qui une fois l’opération terminée, pourrait accroître l’exposition de la société de paiement en ligne aux devises numériques. En parlant avec des personnes connaissant bien le sujet, Bloomberg a indiqué qu’un accord avec BitGo pourrait être conclu en quelques semaines. BitGo fournit des solutions de conservation qui permettent à ses clients, principalement des investisseurs institutionnels, de stocker les bitcoins en toute sécurité.

L’acquisition de BitGo donnerait à PayPal une percée majeure dans l’industrie de la cryptographie.

Le géant du paiement en ligne PayPal s’ancrerait davantage dans l’espace de la cryptoconnaissance une fois qu’il aurait acquis une grande entreprise comme BitGo. Cependant, certains ont exprimé des inquiétudes quant à cette évolution. Thorchain, une autre société de cryptologie monétaire, a déclaré que l’acquisition de BitGo par PayPal signifierait que la majorité des jetons emballés à base de Bitcoins Ethereum – qui représentent les Bitcoins dont cette dernière a la garde – seraient entre les mains de la société de paiement. „PayPal n’est pas un bon acteur dans ce domaine. Positionnez-vous en conséquence“, avait tweeté M. Thorchain. Bitcoin a atteint 13 200 dollars avant de clôturer à 12 802 dollars mercredi, après que PayPal ait annoncé son entrée sur le marché de la cryptographie.

PayPal permettra à ses utilisateurs d’acheter, de vendre et de faire des achats en utilisant la cryptographie.

Comme indiqué précédemment, le géant du paiement en ligne PayPal a annoncé son entrée sur le marché de la cryptoconférence, permettant à ses clients d’acheter, de vendre et de conserver des bitcoins et d’autres pièces virtuelles en utilisant les portefeuilles en ligne de la société américaine de paiement numérique. Les clients de PayPal pourront également utiliser les cryptocurrences pour faire des achats chez les 26 millions de commerçants de son réseau à partir du début de 2021, a déclaré la société dans un communiqué. Le géant des paiements espère que ce service encouragera l’utilisation mondiale des nouvelles monnaies numériques et des CBDC qui pourraient être développées par les banques centrales et les entreprises.

Walmart tests the benefits of blockchain technology on mangoes from Mexico

Walmart and IBM test a pilot project in the fresh mango value chain in Mexico with the support of Blockchain technology.

The Blockchain technology has come to revolutionize the food industry thanks to the solutions it provides. Walmart, the powerful retail chain; and IBM, have recently decided to pilot test the Blockchain technology in Mexico’s fresh mango and pork value chains.

According to a report by the Food and Agriculture Organisation (FAO), the two companies joined forces to implement this initiative, in order to facilitate food traceability, support security controls and ensure food authenticity to reduce food loss and waste. As reported by the Mexican digital newspaper Opportimes.

The multinational retail corporation made the decision from the outset to test the project with fresh mangoes from Mexico due to the complexity of the value chain. The use of this disruptive technology reduced the time needed to trace the origin of a pre-packaged portion of the fruit from almost seven days to 2.2 seconds.

The article notes that blockchain technology allowed Walmart to track the speed at which mangoes moved through the supply chain and to identify where delays occurred.

According to the FAO, the technology allowed value chain actors to identify the exact path the product took from the farm to the shop.

FAO: A Step Towards Innovation

In this sense, FAO stresses the importance of innovative approaches and the application of digital technologies in the agrifood sector, as well as reducing the loss and waste of food, are vital in the fight against hunger and poverty, which was the motto, of the organization at the opening of the recently held virtual event on strengthening global governance of food security and nutrition, organized by the Committee on Food Security (CFS).

In this regard, FAO Director-General QU Dongyu encouraged the promotion of innovation and addressing food loss and wastage as areas of great importance.

„I strongly believe in the power of innovation and digital technologies as a central tool for achieving the Sustainable Development Goals, in particular ODS2 (hunger) and ODS1 (poverty),“ he said.

The organization has already made great strides in helping its members drive innovation and now has a new Office of Innovation, where major macro initiatives have been introduced and where they have the first Chief Scientist in FAO’s history.

Walmart and the Blockchain

Walmart, the largest grocery retailer in the United States, has been entering the ecosystem of innovative blockchain technology for some time. Some of the experiences the supermarket network has had with the use of this technology and the benefits this technological disruption has brought to their supply chain have been mentioned above through Cointelegraph’s digital medium.

A recent example of this is the integration of Walmart China’s subsidiary, with the VeChain block chain, selected by the farmers‘ association in Italy to give traceability to the food supply chain.

This multinational retail conglomerate has also joined the Hiperledger open source chain consortium. In this regard, the vice-president of Walmart Global Tech, Sanjay Radhakrishnan, said that:

„We have seen strong results through our various blockchain implementations, and we believe that staying involved in open source communities will further transform the future of our business,“ he said to express his enthusiasm for joining the platform.

Meanwhile, in the People’s Republic of China, Walmart in a partnership with IBM and Tsinghua University, conducted a pilot program using Hiperledger’s blockchain technology to track the Chinese pork market, ensuring authenticity and origin.

Another of the retail chain’s experiences has been the registration of patents related to blockchain technology, a system that ensures the monitoring or tracking of packages by means of drones.

The encouraging results of Walmart’s experience with the blockchain technology have led this corporation to a constant technological update and implementation in different areas of the company, managing to expand the company’s capacity to track and monitor commercial transactions.

Forudsigelse af Bitcoin-pris: BTC / USD kan udvide nedadrettede korrektion til $ 10.000

I skrivende stund svæver BTC / USD til $ 10.592. Der har været tilfælde, hvor BTC har udvekslet hænder under $ 10.500, der opretholder den bearish prishandling er en nedadgående opgave. Som det ser ud nu, er den mindste modstands vej stadig nedad. Et blik på det daglige diagram viser dannelsen af ​​et bearish vimplemønster.

Hvor går BTC-prisen videre?

Ser man på den tekniske indikator RSI (14) i det daglige interval, er BTC / USD ikke færdig med ulempen. På trods af faldet er RSI (14) endnu ikke oversolgt. Det betyder, at der stadig er plads, der kan udforskes af bjørnene. Desuden kan mønten fortsætte med at følge nedtendensen, så meget som prisen forbliver under de 9-dages og 21-dages glidende gennemsnit.

På hovedet er opsving måske ikke let. For det første skal support sorteres over de glidende gennemsnit. I mellemtiden er et bæredygtigt skridt over denne barriere placeret omkring $ 10.800, hvilket kan negere det bearish scenarie og give mulighed for en udvidet genopretning mod modstandsniveauer på $ 11.200, $ 11.400 og $ 11.600.

Imidlertid kan en stigning i salgspres på tværs af markedet tvinge Bitcoin-prisen mod en smertefuld vej og gennem forskellige foreløbige understøttelser til $ 9.900, $ 9.700 og $ 9.500

Ser man på 4-timers diagrammet, har Bitcoin-tyrerne ikke været i stand til at skubbe markedsprisen over de glidende gennemsnit. BTC / USD har overlevet $ 10.000 support, da markedet genoptager den opadgående momentum. Kongemønten vender sandsynligvis tilbage til tyremarkedet, hvis prisen går over $ 10.700-niveauet. Højere modstand er placeret på $ 10.800 og derover.

Binance Coin (BNB) suffers rejection before hitting $ 30

The BNB has completed an evening star diagram.

Technical indicators are neutral.

There is support at $ 22.50 and resistance at $ 29

The Trust Project is an international consortium of news organizations based on transparency standards.

The course Binance Corner (NBB) was rejected on September 30, beginning a fall ongoing. While a near-term rebound is expected, the direction of the longer-term trend remains uncertain.

A lower peak

On September 14, the BNB price peaked at $ 33.35. That said, the price created a Doji candlestick followed by a bullish overlap Japanese candlestick, completing a shooting star pattern. This pattern is known as a bearish reversal.

The decline continued, until price hit a low of $ 22.22 on September 21, validating the $ 22.50 area as support.

On September 30, the price was rejected by the fibonacci level 0.618 of the entire decline, and fell once more. This created a lower high, at a current retracement level.

Technical indicators are neutral. The RSI is moving above 50 but is in decline, and the Stochastic Oscillator appears to have rejected a bullish cross.

Weaknesses responsible for a fall

Crypto trader @devchart shared a BNB chart, claiming the price rose 12% and would have changed the critical resistance of $ 26.50 into support. That said, since that tweet, the price has been rejected and has fallen back below the resistance zone.

The 6-hour chart shows that the fall was preceded by bearish divergences in the RSI and MACD.

At the time of writing this article, the price is moving at the 0.5 fibonacci level of the entire rally. In order to remain valid, BNB will need to hit a low soon and start rising.

Despite an unconfirmed bullish divergence in the RSI, there are no other signs to suggest that price will reverse its downtrend.

The wave count for BNB indicates that the price completed a correction in ABC (in orange below), with a bottom on September 21. The rally that followed looks impulsive rather than corrective (in red) and price appears to have completed a bullish momentum, currently moving into another correction in ABC.

It is not yet clear whether its rise is part of a bigger wave A or a new bullish momentum.

That said, the price should end its correction near $ 24. A decline below this would reduce the chances of it being a bullish impulse. Likewise, a decline below $ 22.10 would negate the possibility that this is the start of a new upward trend.

In conclusion, the price of BNB should find support near $ 24 and begin an upward movement. The direction of the longer-term trend remains uncertain.

Yearn Finance founder suggests major update to L2 platform

Yearn Finance could launch a major update to the protocol.

Layer 2 scaling solutions would be one of the new features.

The price of YFI tokens fell 15% during a market downturn

The Trust Project is an international consortium of news organizations based on transparency standards.

The popular Crypto Cash review has been one of the most active in terms of product development and upgrades in recent months. Lately, its founder hinted that an even bigger update was underway.

Yearn Finance has made giant strides since its launch. Its founder Andre Cronje, who has become something of a DeFi celebrity, revealed that the new system is much more complex.

The new Yearn system is probably the most complex to date. It integrates @synthetix_io @AaveAave @chainlink @iearnfinance and will work on L1 / L2

We’re trying to decide whether we should write an explanatory white booklet style before launch, or just kick in and surprise everyone?

Observers left in doubt by Andre Cronje

Not revealing any details in his teaser poll, Mr Cronje simply asked if they should post any information ahead of launch or just roll out the update to surprise everyone. This choice was then the most popular among the 5,350 respondents.

Some have suggested that a warning would help prevent influencers and whales from taking precedence over the rest, which has become a controversial standard in the ecosystem in recent times.

It is likely that the new Yearn v3 will incorporate more of other DeFi protocols in order to expand its current offerings which do the job for investors, saving them time and money.

A DeFi operator nicknamed “DeFiGod” (@ DeFiGod1), suggested a greater mix of existing protocols and assets:

It looks like synthetic issued / burnt asset swaps using Chainlink oracles to determine prices, AAVE will use these funds for coinage, and SNX / ethos contracts for the overall architecture.

More importantly, Andre Cronje has said that it will run on both Layer 1 and Layer 2, which will provide relief to users who have been affected by the recent spike in gas costs.

Scaling up to layer 2 is expected to enable thousands of transactions per second and a significant reduction in gas costs.

In addition to Yearn, DeFi Aave, Uniswap and Synthetix platforms are all set to roll out their own L2 solution upgrades.

Current YFI price

Yearn Finance is currently ranked sixth on the DeFi TVL charts with around $ 817 million in collateral locked according to DeFi Pulse .

Its native YFI token did not escape the clutches of bears during the cryptocurrency market’s massive sell-off this week . In the past 12 hours or so, YFI has suffered a 15% drop back to $ 22,500.

This slide is in line with an overall market decline that resulted in a loss of $ 10 billion in total market cap over the past 24 hours.