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Bitcoin Price: Top Cryptocurrency Prices Today: Polkadot, Doge Drop; Binance Coin gains 6%
New Delhi: The crypto wagon showed mixed trends on Tuesday as investors booked profits on recent winners and bulls took a brief pause after a sharp rally. Six of the top 10 cryptocurrencies were trading lower at 9:30 am IST. Solana and Binance Coin each gained up to 6 percent. The global crypto market cap hovered near the $2.15 trillion mark, declining slightly compared to the last day. However, the total volume of the crypto market increased by more than 14 percent to $114.92 billion. ZebPay Trade Desk said that despite lower volumes in recent days, Bitcoin has managed to…
Bitcoin Price: Top Cryptocurrency Prices Today: Polkadot, Doge Drop; Binance Coin gains 6%
The global crypto market cap hovered near the $2.15 trillion mark, declining slightly compared to the last day. However, the total volume of the crypto market increased by more than 14 percent to $114.92 billion.
ZebPay Trade Desk said that Bitcoin has managed to successfully maintain high price levels despite lower volumes in the past few days. However, it remains to be seen how long these levels will last.
"More importantly, new fundamental macro developments from the Federal Reserve could impact the asset this week. Namely, the annual Jackson Hole summit promises some pragmatic changes to economic policy due to the coronavirus pandemic," he added.
Cryptocurrency platform Poly Network said almost all of the $610 million stolen in one of this month's largest crypto heists has now been returned by the unknown person or persons behind the attack.
A wave of young investors from non-metro cities are increasingly trading stocks and buying cryptocurrencies online, industry executives said, a development that coincided with the Covid-19 outbreak and subsequent national lockdown last year.
As the Indian government formulates the new cryptocurrency law amid its increasing adoption, Nischal Shetty, the CEO of leading cryptocurrency exchange WazirX, said that appropriate rules and regulations need to be put in place so that digital coins reach more investors in the country, especially smaller cities.
Tech View of Giottus Cryptocurrency Exchange
SafePal is a crypto wallet company that offers both hardware and software wallets to customers. Hardware wallets add a layer of security to cryptocurrencies and give investors the ability to store cryptocurrencies on a physical drive that can be secured in a locker. SafePal is powered by Binance and integrated into the BSB ecosystem.
Released in early 2021, SFP is the utility token for the SafePal ecosystem. It is among the top 300 cryptocurrencies and reached an all-time high (ATH) of $3.85 in March. It is currently trading near $1.5 with a bullish outlook supported by growing volume.
In the short term, SFP is testing the trendline resistance of an ascending wedge, which represents a bearish pattern and therefore may lead to a pullback later. However, SFP enjoys strong support at $1.2-$1.3.
A good entry point for SFP is the trendline support of its ascending channel on the daily time frame.
Main stages
Support:$1.49, $1.39, $1.29
Resistance:$1.62, $2.62, $3.26
The time is in UTC and the daily time frame is 12:00 p.m. – 12:00 p.m. UTC
(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 before taking a position in the assets mentioned.)
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