The global crypto market cap was hovering near the $1.89 trillion mark, declining half a per cent compared to the last day. However, the total crypto market volume plunged 15 per cent higher to $107.76 billion.
“The market sentiment towards the asset has turned, and gone are the days where people would say that Bitcoin might test $20,000 levels. Bitcoin has been trending in an upward direction for 4 weeks straight and is on pace for its second monthly advance,” said Zebpay Trade Desk.
The cryptocurrency is defying criticism over the claims that it is not environmentally friendly, and is advancing even as regulators around the world pose a degree of risk and uncertainty, it added.
When Robinhood Markets Inc reports quarterly financial results on Wednesday for the first time since going public, its retail shareholders want to know when cryptocurrency wallets are coming and whether they will get branded hoodies, according to Say Technologies.
Also, Australian bitcoin miner Iris Energy said on Wednesday it has applied for a direct listing on the Nasdaq, at a time digital currencies have gained popularity as investment assets and following an increase in their use for making payments.
Siddharth Menon, COO WazirX said that Out of all the use cases that crypto offers, football clubs are placing bets on fan tokens. Some of the recent federations to part in this experiment are Arsenal and Manchester City, both in partnership with a fan engagement platform Socios
“The overall stock market, bonds and real estate market crosses approximately $300 Trillion. We continue to watch tokenization in DEFI, NFTs and now social tokens. This signifies a huge opportunity of 100x for the crypto and blockchain industry,” he added.
Crypto Cart: Quick Glance (Source:
coinmarketcap.com, data as of 09.30 hours, IST on August 19, 2021)
Note: Price change in last 24 hours
Tech View by Giottus Cryptocurrency Exchange
1 inch is a decentralized exchange (DEX) aggregator, connecting several DEXes into one platform to allow its users to find the most efficient swapping routes across all platforms. It launched in Aug 2020 and has quickly grown into a top 120 cryptocurrency. Its native token 1INCH is based on the Ethereum blockchain.
Recently, the company announced a series of exciting news, including the deployment of Ethereum layer 2 solutions, airdrops worth $10 million and NFTs. It is on a rising wedge currently, which is technically a bearish pattern. Its indicators like MACD and RSI also support the temporary bearish structure
The bearishness is compounded by the fact that Bitcoin is under a correction phase. 1INCH token is trading around $3.2 today may find immediate support at $2.91 if there is a drop.
While short-term price movements may not matter in the long term, they present opportunities to enter at lower ranges. If 1INCH’s resistance is broken and the token closes above its trendline, it will remain bullish for a while, rapidly testing its next resistance levels of $3.39 and $3.51.
Support: $2.91, $2.62, $2.18
Resistance: $3.28, $3.39, $3.51
Time is in UTC and the daily time frame is 12:00 AM – 12: 00 PM UTC
(Views and recommendations given in this section are the analysts’ own and do not represent those of ETMarkets.com. Please consult your financial adviser before taking any position in the asset/s mentioned.)