Machine learning algorithm sets SHIB price for end of November

As the Shiba Inu (SHIB) community braces for the highly anticipated launch of its blockchain-based identity solution, market enthusiasts are keenly watching the potential ripple effects on SHIB’s valuation by the end of November. 

The clandestine nature of the announcement, shared on October 28, has not prevented an air of expectancy from building around the SHIB identity initiative, which is slated to roll out imminently—72 hours from the initial teaser. 

The Shiba Inu developers remained tight-lipped about the finer details of the project but released a teaser video fueling speculation that the identity solution could intertwine with several Shiba Inu-centric initiatives.

Tagged by the SHIB team as a potential game-changer for the crypto world, traders await with conjecture on its market impact. 

Drawing upon the analytical prowess of AI, predictive algorithms are weighing in. The PricePredictions AI tool renowned for its market forecasting accuracy, has projected that SHIB could potentially trade at $0.000008446 come November 29. This prediction was synthesized from data retrieved by Finbold as of October 31, where SHIB is trading at $0.00000799.

SHIB November 29 price prediction. Source: PricePredictions

Shiba Inu technical analysis

Investors are on high alert, as the end-of-month price projections hinge upon the successful launch and reception of the Shiba Inu identity solution. The outcome of this launch could either cement SHIB’s position as a formidable player in the crypto realm or place it among the numerous projects fighting for relevance. 

The current technical analysis underscores a support level at $0.00000737, juxtaposed against a resistance level of $0.00000853. These figures are crucial, as they outline the battleground where bullish and bearish sentiments will vie for dominance.

SHIB 1-day price chart. Source: Finbold

A deeper dive into SHIB’s performance reveals a year marked by significant downturns, with the price plummeting by 35%, outperformed by 67% of the top 100 crypto assets over the same period. 

It has, also, tailed behind the more established crypto titans like Bitcoin and Ethereum. The token is also trading below the 200-day simple moving average, indicating a bearish trend over the mid-term.

Despite a staggering 91% decline from its all-time high, SHIB has demonstrated resilience, with 16 out of the last 30 days closing in green. This resilience is further bolstered by the token’s high liquidity—a nod to investor interest and confidence in its market cap.

Disclaimer: The content on this site should not be considered investment advice. Investing is speculative. When investing, your capital is at risk.

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Machine learning algorithm sets XRP price for November 30, 2023

As of October 30, XRP is trading at $0.565, marking a modest climb of 1.85% within the past day and an encouraging 6.40% over the last week. 

Within a year, the digital asset has soared by 22%, eclipsing the performance of 78% of its peers in the top 100 cryptocurrencies by market capitalization. 

XRP price 1-day chart. Source: Finbold

Currently, XRP is positioned above its 200-day simple moving average, signaling a bullish trend despite experiencing only 14 days of gains in the past month (47% of the time) and lingering 86% below its all-time peak.

Amidst the anticipation surrounding the ongoing lawsuit, investors remain on high alert for XRP’s future price trajectory. The forward-looking machine learning AI at CoinCodex suggests a slight uptick in XRP’s value by the end of November, although it’s expected to stay shy of the $0.60 resistance benchmark.

AI predicts XRP price for November 30: Source: CoinCodex

Intriguingly, despite Ripple’s legal victories, particularly a notable win in July, XRP has not managed to revisit those zeniths.

Ripple SEC battle rages on

The debate continues to heat up over the appropriateness of former SEC Chair Jay Clayton’s decision to bring charges against Ripple, with accusations of potential conflicts of interest casting a shadow over the case. 

John E. Deaton, a prominent critic, has pointed out possible entanglements involving Clayton and Consensys, a Ripple competitor, underscoring the interconnected representation by the same law firm involved in the Quorum JPMCoin deal. 

Ripple’s leadership, CEO Brad Garlinghouse and co-founder Chris Larsen, have publicly voiced their discontent with Clayton’s approach on Squawk Box.

The legal proceedings, presided over by Judge Analisa Torres, are moving forward, with a significant date of November 9 set to determine the briefing schedule on remedies for the outstanding charges against Ripple. Documents pertaining to a key speech by William Hinman, a former SEC Director now with Simpson Thacher, are believed to be pivotal for the settlement discussions. 

These papers, which have been protectively sealed by the SEC multiple times, are of great consequence, especially considering the verdict on the Programmatic Sales of XRP.

SEC’s intentions

The uncertainty regarding the SEC’s appellate intentions and the developments in establishing a Bitcoin spot ETF are other variables influencing XRP’s price trends.

After an ascent to $0.9327 in July, XRP’s focus is now on breaching the $0.5835 resistance level. The discourse has been further fueled by Joe Grundfest’s remarks on Clayton’s predilection for litigating against company executives in non-fraud situations, provoking reactions within the cryptocurrency community.

Disclaimer: The content on this site should not be considered investment advice. Investing is speculative. When investing, your capital is at risk.

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Backed integrates Chainlink Proof of Reserves to strengthen transparency in tokenized assets

Leading fintech innovator, Backed, announced on October 26 its recent integration of Chainlink (LINK) Proof of Reserve (PoR). 

This strategic move offers its users a transparent and trust-minimized mechanism to validate the collateralization of their tokenized assets with the integration as well as signifying a monumental leap in reinforcing user trust. 

With PoR, Backed’s users now have the capability to independently and on-chain confirm the sufficiency of collateral reserves at any given time. A necessity in ensuring the integrity of tokenized assets, as per the latest information shared with Finvold.

Behind the curtains of Backed’s Proof of Reserves solution

Whenever users purchase bTokens from Backed, the company swiftly engages in acquiring the corresponding underlying asset as collateral. This sequence involves transmitting an acquisition order for the underlying asset to their broker.

Subsequently, the tokens get issued to the user. Impressively, this streamlined process often concludes within minutes and Backed remains steadfast in its dedication to further enhance its efficiency.

The auditing prowess is driven by The Network Firm, which manages the auditing API. This entity has been granted read-only rights to the custody bank accounts of Backed, which allows them to perpetually monitor account balances and update API data at an impressive 10-minute interval.

Furthermore, in-transit securities are meticulously recorded as distinct data, considering the natural time-lapse required for securities to find their way to the bank account. This holistic internal data, vouching for the incoming assets, is transparently conveyed to Backed’s Swiss custodian.

Chainlink Proof of Reserve’s robust decentralized oracle network then steps in to corroborate this aggregate data. Noteworthy is the fact that Chainlink PoR updates its data daily or whenever there’s a fluctuation of more than 10% in the reserve volume.

Backed makes sure data is accessible on-chain

Backed ensures this consolidated data is accessible both on their official website and on-chain, thereby offering a compelling Proof of Reserves solution for their most sought-after products.

Adam Levi, Co-founder, stated: 

“When we first set up Backed, we knew how important it would be to have verifiable, on-chain, transparent data that proved our assets were fully collateralized. Integrating Chainlink Proof of Reserve is a major milestone in achieving the company’s goal of creating products that are verifiably backed 1:1 and fully composable.”

The Chainlink PoR mechanism facilitates the provision of data to smart contracts, enabling them to accurately determine the level of collateralization for on-chain assets that are supported by off-chain reserves.

What’s more, the system is designed to provide the real-time verification of collateral using a decentralized network of oracles. This system aims to safeguard user money by preventing unexpected fractional reserve practices or fraudulent activities.

Instead of relying only on paper assurances, the Chainlink PoR system is used to enable automated verification on the blockchain. This approach offers consumers an enhanced level of assurance about the collateralization of an asset and fosters more transparency in relation to asset collateralization.

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Rise In acquires BlockBeam to shape U.S. Web3 developer education

With the purchase of BlockBeam, Rise In, a leading education platform for transitioning Web2 engineers to Web3, has further enlarged its talent network of over 200,000. 

Notably, partnerships with 90+ university blockchain clubs, including the Princeton Blockchain Club, Blockchain at Berkeley, and Harvard Blockchain, have helped establish BlockBeam as one of the first and biggest Web3-focused ed-tech startups in the United States. 

The acquisition will allow Rise In and its partners to teach the next generation of Web3 developers in the United States at some of the best educational institutions in the world, according to the latest information shared with Finbold on October 27.

With the goal of being the premier destination for everyone interested in learning about or constructing Web3, Rise In introduces the world’s workforce to blockchain technology. In collaboration with the largest blockchain ecosystems worldwide, it offers free Web3 education.

Moreover, Rise In and its partners will be able to reach the best institutions in the world and begin training the next generation of Web3 developers in the United States after purchasing BlockBeam.

Rise In facilitates the integration of accomplished alumni into venture-building support, developer grants, bounty programs, hackathons, and employment prospects. College students account for 31% of all bootcamp applications, therefore they want to roll out an internship program just for them.  

Rise In has a community of over 200,000 Web2 developers

Founded in Turkey in September 2023, Rise In is a rapidly growing community of over 200,000 web2 developers. Through online classes and bootcamps, they have already onboarded over 25,000 of them, from over 90 different countries, to Web3. And as a result of the purchase, Rise In will have access to an additional 1,000 U.S.-based Web3 developers. 

Co-founder and CEO of Rise In, Gulcan Yayla commented: 

“We met with BlockBeam in 2022, when we were both experimenting with the best methods to train talent on blockchain and Web3. We are passionate about providing a structured and easy-to-follow onboarding process for developers, leading to a meaningful career. Seeing the same passion in the BlockBeam team and their close relationship with the university clubs helped us make the acquisition decision. This way we’ll help our partners reach some of the best Web3 talent in the world.”

Co-Founder of BlockBeam, Drew Cousin commented:

“It was important to us that an acquirer was able to not only carry the torch but increase the value BlockBeam created for talent and our partners. We are excited to see Rise In continue to generate opportunities for talent and companies, and to accelerate US expansion with our assets.”

Finally, Solana, BNB Chain, Polkadot, Sui, Internet Computer, the Ethereum Foundation, and others are just some of the companies that have teamed up with Rise In.

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Ramp teams up with Linea to bridge zkEVM and the global financial system

On October 26, Ramp, a financial technology firm focused on establishing payment infrastructure that links the cryptocurrency economy with the worldwide financial system, announced a significant collaboration with Linea. 

Linea is a developer-friendly zkEVM rollup designed to enhance the scalability of Ethereum decentralized applications (dApps). The agreement entails the integration of Linea Network’s advanced blockchain technology with Ramp Network’s extensive global payments infrastructure, according to information shared with Finbold.

During the first phase of this strategic alliance, individuals from over 150 countries and territories have gained the capability to acquire ETH and USDC directly via the Linea Network. This is made possible by using the Ramp widget, which is accessible through Ramp’s wide-ranging network of integration partners. 

This is also the first phase of investigating the potential collaboration between Linea Network and Ramp Network, with both entities demonstrating a steadfast dedication to providing a cohesive, protected, and user-centric encounter for all those involved.

CEO at Ramp, Szymon Sypniewicz, noted:

“This partnership with Linea Network highlights our shared vision of empowering builders with direct, optimized rails for creating easily accessible applications on the blockchain. With a mutual passion for prioritizing users, our collaboration brings together the best of cutting-edge blockchain technology with familiar payment solutions, paving the way for Web3 and the internet of value.”

Declan Fox, Product Lead at Linea, added: 

“In partnering with Ramp Network, Linea fuses advanced zkEVM technology with global finance, underscoring our commitment to a seamless and accessible decentralized future. This collaboration amplifies our drive to empower developers and users, setting a new benchmark for Web3 accessibility and innovation.”

Create or migrate scalable dApps

By combining the strength of zero-knowledge proofs with full Ethereum Virtual Machine (EVM) equivalence, Linea from Consensys, one of the world’s leading blockchain software companies, enables a large group of developers to create scalable dApps or migrate existing ones without the need to modify existing code or rewrite smart contracts.

More people all around the world will be able to utilize common payment methods like credit cards, Google Pay, and Apple Pay, thanks to the partnership of Linea’s cutting-edge prover design and Ramp’s innovative on-ramp. 

All in all, the collaboration between Linea Network and Ramp Network is a promising first step toward rethinking what’s possible in the Web3 industry.

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Horizen EON and LayerZero enhance trustless cross-chain communications

On October 25, the Horizen ecosystem shared news that it has adopted the LayerZero protocol. The goal of this integration is to improve the inter-blockchain communication options available inside the Horizen EON ecosystem via the use of arbitrary message bridging.

The integration has the potential to stimulate substantial progress within the Horizen EON ecosystem.

Through the integration of LayerZero’s sophisticated messaging infrastructure, Horizen’s EON will provide improved interoperability, enabling the seamless movement of data, assets, and information across different blockchains while maintaining optimal levels of efficiency and security. 

In addition to facilitating communication, this integration represents a more comprehensive objective of establishing a cohesive digital asset ecosystem, whereby decentralized apps (dApps) may function harmoniously across several blockchains.

Rob Viglione, Co-founder of Horizen and CEO of Horizen Labs, stated:

“Interoperability is the future of blockchain technology. By integrating with LayerZero, we are not only enhancing the capabilities of our EON platform but also taking a significant step towards a more interconnected and resilient blockchain ecosystem. LayerZero’s expertise in cross-chain communications will be instrumental in achieving our vision for EON as a leading smart contracting platform in a multichain world.”

LayerZero continues to establish blockchain connections

The LayerZero protocol has already demonstrated its effectiveness by successfully establishing connections with over 40 blockchains and facilitating the processing of more than 75 million messages since its introduction. The partnership with prominent entities such as Google Cloud serves as another evidence of their dedication to ensuring security and optimizing speed.

The EON platform developed by Horizen has garnered significant attention among the blockchain community due to its interoperability with the Ethereum Virtual Machine (EVM). The incorporation of LayerZero’s cross-chain proficiency will enhance its standing as a preferred platform for developers and supporters of decentralized finance (DeFi).

To get more understanding of this integration and the prospective developments of EON, its worth staying tuned with the forthcoming EON Mainnet Launch Summit. During this event, the Horizen EON and LayerZero teams will provide further information and analysis about this integration.  

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AI predicts XRP price for Halloween 2023

One standout performer this past year has been XRP, making significant strides both in price and in the courtroom. As Halloween approaches, AI analysis predicts a sweet treat for XRP investors.

In a year where the cryptocurrency markets have witnessed intense volatility, XRP has managed to impress its holders. The token has surged by 24% in the past 12 months. This commendable performance means it has outperformed 76% of the top 100 cryptocurrencies. An impressive feat, considering the myriad of challenges and competitions in the space.

Adding to its robust health indicators, XRP is trading above its 200-day simple moving average – a classic bullish sign for many analysts. Moreover, it’s showcased resilience and strength with 15 green days in the last month, maintaining a 50% bullish rate.

As of now, XRP stands at $0.5526, marking a 0.28% increase in the past 24 hours and a 12.86% rise in the last week. This brings its market capitalization to a solid $29.5 billion.

XRP 1-day price chart. Source: Finbold

A new peak on the horizon?

With the festive season in full swing, the AI’s prediction for XRP’s price on Halloween stands at $0.66. This forecast suggests that investors could be in for more gains, adding to their celebratory moods.

Halloween XRP price prediction. Source: CoinCodex

The token’s recent two-month high of $0.58 provides further evidence of its upward trajectory, validating the optimism surrounding it.

Legal triumphs boosting XRP’s momentum

One can’t analyze XRP’s performance without touching upon the legal battles it’s endured. Recent positive legal outcomes have significantly bolstered XRP’s standings in the market. The highlight being Ripple’s CEO, Brad Garlinghouse, and its Executive Chairman, Chris Larsen, being acquitted of all SEC charges. This clearance formalized with the seal of American magistrates has invigorated Ripple supporters globally.

This wasn’t the only win for Ripple. Earlier in mid-July, a landmark judgment by Federal Judge Torres ruled that the XRP sales from yesteryears did not equate to an offer of investment contracts. The SEC’s attempt to overturn this judgment met with failure, giving Ripple a back-to-back victory against its formidable adversary.

XRP’s performance, fueled by both market sentiments and legal victories, positions it as a crypto asset to watch closely. As we edge towards Halloween, the predicted price point offers a tantalizing prospect for investors. While the future is never set in stone, XRP’s current trajectory suggests that its journey is far from over, and the coming days might offer even more reasons to celebrate.

Disclaimer: The content on this site should not be considered investment advice. Investing is speculative. When investing, your capital is at risk.

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ChainGPT partners with CoinMarketCap to host $50,000 Airdrop

The Web3 artificial intelligence infrastructure network ChainGPT has teamed up with CoinMarketCap to host an airdrop. In all, CGPT tokens worth $50,000 will be distributed. 

It is estimated that up to 10,000 people in the crypto community will be able to take part in the campaign and obtain tokens as a result, as per the latest information shared with Finbold on October 25.

Between October 23 and November 7, users may participate in the ChainGPT airdrop. People who follow ChainGPT on Twitter during this time period, like and share the promotional tweet, and fulfill the tasks on CoinMarketCap’s airdrop page will be eligible to get free ChainGPT tokens. 

The goals of the program are to increase the number of users actively holding CGPT and to enhance participation in the community. A record high for ChainGPT’s TVL was announced on October 17: more than $1.3 million of CGPT is presently invested by more than 16,000 token holders.

Launch of ChainGPT’s airdrop

The launch of ChainGPT’s airdrop comes only days after CGPT was listed on top-tier exchange HTX (previously Huobi), further expanding the protocol’s native token’s worldwide accessibility. ChainGPT also just shared the news that it has been granted a Gas Grant by BNB Chain. Due to its extensive participation in the BNB ecosystem, the project has been awarded funding for the month of October.

Projects like the $50,000 airdrop help get the word out about the solutions that ChainGPT is working on, and they keep people excited as they near completion. The ChainGPT developers have announced that AI trading assistant assistance is one of their next significant releases.

It claims to be able to analyze the technical aspects of thousands of tokens, including their prices, sentiments, and indicator readings in real time. The tool will aid cryptocurrency traders in making more informed judgments based on cutting-edge AI research of the market.

Ilan Rakhmanov, the CEO of ChainGPT said: 

“We are thrilled with the overwhelming support from the community with over 16,000 token holders staking $1.3M in $CGPT. As we continue to push the boundaries of innovation in Web3, our airdrop with CoinMarketCap, along with the recent listing on HTX and the BNB Chain grant, are some of the crucial steps towards expanding global access to $CGPT and ChainGPT tools and solutions.”

ChainGPT has had a fruitful month in October. It held the OpenFabric IDO on October 18 and announced a $50,000 airdrop in partnership with CoinMarketCap, a grant from BNB Chain, and teased the launching of additional products. The sale of almost 2.5 million $OFN tokens brought in over $150,000 in less than 20 seconds.

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Atani secures $6 million in funding for its new crypto broker

On October 24, the Spanish crypto FinTech startup Atani announced the successful closing of a $6 million investment round.

The funding round has been spearheaded by Cometa, a venture capital fund based in Mexico, and has seen participation from JME Ventures, Conexo Ventures, and CDTI, as well as a group of knowledgeable business angels specializing in Web3, including Neil Cunha-Gomes, who serves as the Head of FinTech and Crypto for EMEA at Softbank as per the latest information shared with Finbold.

Atani is the cryptocurrency broker where over 300,000 investors may buy and sell any cryptocurrency. Safely trade thousands of tokens on the best exchanges in the world, do in-depth market research, and keep track of their holdings with just one account.

Established in 2019, and it already has regulatory license from the Bank of Spain, as a Virtual Assets Service Provider, services customers from over 200 countries, and handles over $1.5 billion in trade volume every month. With this approval in hand, Atani may now provide its own exchange service backed by stringent regulatory safeguards.

Simplifying the crypto ecosystem

Paul Barroso, Co-founder and CPO of Atani stated:

“Before Atani existed, crypto traders had to open multiple accounts with different exchanges, devote countless hours to learn how to use each of them and get frustrated trying to do things as basic as executing an order or checking their balance. The crypto ecosystem was missing an experience similar to that of digital stock brokers.” 

Pepe Bolaños, Managing Partner at Cometa and early backer of Bitso, Latin America’s first crypto unicorn, added:

“Atani has built infrastructure for the foundational use cases of web 3.0, transacted volumes and user activity validates the need for such a platform. Going forward, we are particularly excited about how they will enable crypto use cases for businesses: allowing them to expand their financial products offering to end users.” 

In the present market landscape, Atani is dedicated to constructing the next iteration of financial technology.

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Nuant sets new standards in digital asset management with MSCI datonomy

In a significant move in the digital asset management space, Nuant, a premier figure in Digital Asset Portfolio Management, has joined forces with MSCI Inc., a foremost authority on global investment decision-support tools. 

This strategic alliance promises to redefine industry standards by providing institutional entities with an unparalleled depth in digital asset sector classifications, all powered by the MSCI datonomy™, according to the latest information shared with Finbold on October 24.

Resulting from collaborative efforts with esteemed financial entities, Goldman Sachs and Coin Metrics, the MSCI datonomy™ presents a meticulously curated classification system. This addresses the inherent complexities associated with the multifaceted digital asset landscape. 

Consequently, digital asset funds and institutional clients leveraging Nuant’s platform will be positioned to gain incisive insights into the digital asset domain, optimizing both their investment strategies and risk mitigation approaches.

Streamlining investment decisions and risk management

Rachid Ajaja, CEO and Founder of Nuant, expressed:

“Our strategic collaboration with MSCI is a testament to Nuant’s commitment to delivering premier solutions. The incorporation of datonomy ensures our clientele receives a nuanced and structured perspective on the digital asset sectors.”

Stephane Mattatia, Global Head of Derivatives Licensing and Thematic Indexes, MSCI, added:

“Global investors are looking for greater transparency and insight into digital assets markets and for ways to meet their high standards for professionalism, scale, risk management, and security. By making the MSCI toolkit available to users of Nuant’s Portfolio Management System, we aim to help provide key datasets to support informed critical investment decisions.”

This technology facilitates the seamless integration of conventional and digital elements within the financial ecosystem, providing institutions worldwide with improved clarity and valuable insights.

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Astar Network and KDDI seal strategic Web3 partnership with MoU signing

On October 24, 2023, Singapore-based Stake Technologies Pte. Ltd., also known as Astar Network, partnered with Startale Labs Pte. Ltd. to enter preliminary talks with Tokyo-based KDDI Corporation, led by CEO Makoto Takahashi.

This collaboration centers around the Web3 domain, aims to drive the adoption of blockchain technology in society and pioneer unique customer experiences for the Web3 era, as per the information shared with Finbold.

The goals of our cooperation are to hasten the widespread use of blockchain technology and to provide novel Web3-era consumer experiences, thus Astar will be advancing conversations covering specifics and duties of the partnership.

The primary topics for collaboration discussion include exploring the possibilities of non-fungible tokens (NFTs) and Web3 products to deliver unique customer experiences. Additionally, the teams will delve into the potential applications of Astar zkEVM powered by Polygon in KDDI’s “αU market” and “αU wallet”. 

The parties will also evaluate potential services and uses compatible with the “αU wallet” and explore the prospects of a new business venture leveraging token technology.

Astar Network continues to grow internationally

Shun Ishikawa, Director of Stake Technologies (Astar Network) stated:

“We believe that the recognition of our newly introduced ‘Astar zkEVM powered by Polygon’, an Ethereum layer 2 solution by Astar Network, by KDDI Corporation, a major domestic telecommunications operator with significant influence in the content field, and αU, is a testament to the high expectations for Astar zkEVM and the strong reputation Astar Network has built both domestically and internationally.”

He added:

“With world-class tools in the Astar zkEVM ecosystem, businesses can develop services that benefit from Ethereum while offering high UX, low fees, and fast transactions. We feel that we are very compatible with KDDI Corporation and αU, both of which focus on creating platforms and content with a user-first approach.”

All in all, leveraging KDDI’s proficiency in 5G communication and cutting-edge content service operations, together with the global network, Web3 business insights, and technology from Astar Network and Startale Labs, the collaboration aims to enhance the αU service. Their shared vision is to foster a creator economy and craft novel customer experiences through Web3 technology.

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Bitcoin rockets toward 72-week high

On October 23, 2023, Bitcoin (BTC) made another headlining move. With its value currently pegged at $30,582, Bitcoin has experienced a commendable uptrend.

Within a 24-hour window, it has leapt forward by 2.12%, and if we stretch that timeline to encompass the past week, we see a robust 8.61% ascent. 

These numbers are not just impressive on their own, but they also hint at Bitcoin’s trajectory toward a momentous 72-week high. For those looking for a historical touchstone, you’d have to dial back to early March 2022 to find Bitcoin showcasing similar stellar performance.

Bitcoin chart 72-week spike. Source: BTC_Archive

Bitcoin price analysis

Delving deeper into Bitcoin’s performance canvas, the digital currency’s tenacity and vigor are nothing short of impressive. Its trajectory over the last year paints a picture of resilience, with a staggering 60% surge. 

BTC 1-year price chart. Source: Finbold

When one situates Bitcoin amidst the expansive and often volatile cryptocurrency milieu, its dominance becomes even clearer. Out of the top 100 crypto assets, Bitcoin’s annual yield has eclipsed a whopping 90% of them.

Meanwhile, Ethereum, frequently hailed as Bitcoin’s closest rival and the next prodigy in the crypto realm, has lagged, unable to surpass Bitcoin’s year-to-date accomplishments.

From a technical analysis standpoint, Bitcoin’s current standing is equally, if not more, illuminating. It confidently towers above its 200-day simple moving average. For those versed in market analytics, this is a bullish sign, indicative of potential upward movements.

The general market sentiment, too, mirrors this optimism. A snapshot of the last month reveals that half the days—15 out of 30—witnessed a closing in the positive, a testament to the prevailing buoyancy.

Disclaimer: The content on this site should not be considered investment advice. Investing is speculative. When investing, your capital is at risk.

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Is it too late to buy DOGE?

Dogecoin (DOGE) has carved a niche for itself as a peer-to-peer digital currency. Originally started as a meme, it has seen an astonishing rise in value and popularity, especially among retail investors. However, the burning question among potential investors is – is it too late to buy DOGE?

The answer isn’t as straightforward as one might hope, given the volatile nature of cryptocurrencies. Dogecoin, like other cryptocurrencies, is subject to market dynamics and investor sentiment, which can be incredibly fickle.

On the bullish side, proponents argue that Dogecoin has a strong community backing, often dubbed as the “DOGE Army,” and has received endorsements from high-profile personalities like Elon Musk. Moreover, with the advent of a few upgrades and its increasing acceptance among retailers, Dogecoin’s utility is gradually widening.

On the flip side, skeptics point out that Dogecoin’s inflationary supply model could pose a risk in the long term. Unlike Bitcoin, which has a capped supply, Dogecoin has no maximum supply limit, potentially leading to depreciation over time. Moreover, its price has seen significant corrections after reaching its all-time high in 2021.

As the cryptocurrency landscape continues to mature, Dogecoin could either prove to be a rewarding investment or a learning curve for investors navigating the waters of digital assets, thus, it is always worthwhile to check the meme coins market dynamics.

DOGE chart analysis

With a robust market capitalization of $8.5 billion, DOGE has solidified its position in the top ten cryptocurrencies by market value. As of now, DOGE is priced at a commendable $0.06022, marking an upward trend of 3.43% over the past 24 hours and a promising 4.03% surge over the last week. 

DOGE 1-day price chart. Source: Finbold

Despite its recent achievements, certain metrics call for a more measured outlook. The meme coin is currently trading below its 200-day simple moving average, often viewed as a key indicator by market experts. 

Additionally, out of the past 30 days, only 13 have been bullish for DOGE, constituting a 43% green trajectory. Furthermore, Dogecoin has retraced significantly, being down 92% from its all-time high.

Over a one-year horizon, Dogecoin has displayed remarkable performance, outpacing 69% of the top 100 cryptocurrency assets. This demonstrates its potential as a competitive player in the market. However, it’s important to note that giants like Bitcoin and Ethereum have still managed to outperform it.

From an inflationary perspective, Dogecoin has an annual inflation rate of 6.64%. This is a crucial factor for investors to consider when evaluating its long-term prospects. 

When turning to real-time technical analysis on the 1-day time frame, the results, based on widely recognized technical indicators, present a mixed bag for Dogecoin. The general summary sits at a ‘sell,’ oscillators lean towards a ‘buy’ recommendation. However, moving averages suggest a more cautious ‘sell’ approach.

DOGE 1-day technical gauges. Source: TradingView

While Dogecoin has exhibited commendable performance in certain aspects, a comprehensive view suggests a balanced approach for potential investors, keeping in mind both its strengths and areas of concern.

Disclaimer: The content on this site should not be considered investment advice. Investing is speculative. When investing, your capital is at risk.

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Crypto Aid Israel receives $185k from over 30 Web3 firms for emergency relief

The group Crypto Aid Israel, made up of prominent Israelis in the crypto community, is making strides toward its goal of helping Israelis who have been impacted by the recent spate of Hamas attacks. 

The Web3 and crypto communities have shown their strength and togetherness by contributing over $185,000 (about 700,000 NIS) to the community-backed effort, as per the latest information shared with Finbold on October 20.

In addition, over 30 businesses have banded together to back our initiative, with major players like accounting powerhouse KPMG lending a hand with distributions and fundraising. Companies like Zengo, a cryptocurrency wallet service, Fuse, Wonderland, Psagot Equity, and many more are also making significant contributions to the campaign via either public relations or financial means.

Crypto Aid Israel has recently announced that two rounds of assistance disbursement to various frontline groups have been finalized. These funds, totaling 200,000 NIS, are meant to help individuals in need in a significant way. 

NGOs which received Crypto Aid Israel funding 

The following NGOs have received Crypto Aid Israel funding, Foundation for Advancing Citizens of Eshkol Regional Council: provides important services and goods to Israel’s southern communities. 

Funding supported the transportation and lodging requirements of individuals who live near Gaza but are not legally recognized as such by Israel. This aid helps impacted individuals to seek safety and refuge.

Zaka, is an Israeli volunteer NGO that provides search and rescue, disaster response, and emergency medical assistance following significant catastrophes and crises. Funding was used for securing critical medical equipment and ceramic vests for Zaka’s volunteers who are operating on the front lines. 

Another is Latet, which is an Israeli NGO that fights poverty and provides food security and social help to poor areas. 

“We believe that while modest initially, the crypto channel is an important, speedy, and innovative one and will enable new contributors to join our global ecosystem and support Israel in such an important hour,“ added Crypto and New Digital Initiatives advisor to Latet’s board, Eyal Gura.

Tim Freed, a senior leader within Crypto Aid Israel, commented: 

“We are deeply humbled by the outpouring of support from the global crypto community. Together, we have made significant strides in our mission to assist those affected by the recent wave of Hamas terrorism. The completion of two rounds of aid distribution shows how crypto can be used as a force of good in the world. 

Crypto Aid Israel faces phishing attacks

Notably, Crypto Aid Israel has experienced significant phishing assaults, highlighting the continued need for increased vigilance in light of the current tough conditions. 

Furthermore, a temporary interruption in the functionality of their website transpired, with the hosting provider swiftly resolved this disruption in response to concerns over possible fraudulent operations impersonating Crypto Aid Israel, demonstrating our steadfast commitment to transparency and validity.

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Anoma announces Namada Community Builders Program with rewards

The Anoma Foundation, a charitable organization that focuses on blockchain technology, made an announcement on October 19 about the introduction of a Community Builders Program for Namada, a multichain privacy protocol. 

The aim of the program is to hasten the adoption of greater privacy features in public blockchain systems, according to the most recent information that Finbold has received.

By using zero-knowledge encryption across a number of different blockchains, Namada offers anonymity that is independent of the underlying assets. The Namada Community Builders Program pulls together a network of people and groups in order to construct a gateway that bridges the gap between the public and private digital spheres.

Participants in the program have the chance to work together, share information, and make meaningful contributions to the advancement of digital privacy.

Anoma Foundation plans to reward contributors

The Anoma Foundation intends to incentivize and reward the contributions of Community Builders by giving 10,000,000 NAM tokens solely to selected participants in Namada’s Community Builders Program to encourage and recognize their efforts. 

After the conclusion of the Retroactive Public Goods Funding (RPGF) Round, the information on the allocation of NAM tokens will be encoded into the genesis block of the Namada blockchain.

Between November 20 and 26, the Namada community will vote on who deserves recognition and compensation for their contributions to the project’s early stages as part of the Community Builder RPGF Round. 

The privacy-enhancing activities that Namada supports are funded via a number of different channels. Public Goods Funding (PGF) enables governance-elected stewards to support public goods across multiple domains, and it includes Shielded Set Rewards, a kind of Continuous Public Goods Funding (CPGF).

Finally, participants in the Community Builders Program are also encouraged to follow Namada on Twitter and join the Namada Discord Server in addition to submitting the Community Builder Form. 

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Cardano price forecast: Can it reach $0.50?

Cardano (ADA) has been a topic of much deliberation among market enthusiasts. Since the onset of 2021, the cryptocurrency has been navigating the tumultuous waters of the crypto world, notably reinforcing its position above the $0.24 support region.

The daily charts further illuminate this scenario. Ingrained patterns from the price action and insights from the Relative Strength Index (RSI) favor a bullish sentiment. 

Still, the caution flag is raised: any daily closure below $0.24 might quell this bullish surge. However, before making any assertive climbs, ADA faces an immediate hurdle; it’s confronted with resistance at the $0.25898 mark. This resistance level, if broken, could potentially pave the way for more aggressive bullish runs.

Cardano RSI chart. Source: TradingView

ADA market dynamics 

The crypto’s journey since April presents a mixed bag. Kicking off its decline on April 15, ADA tapped a yearly high at $0.46, but this momentum was short-lived, plunging to a sobering $0.22 by June 10. 

But ADA’s inherent resilience emerged, marked by a subsequent rally, underscored by a significantly long lower wick on the charts—a clear sign of buyers stepping in.

Interpreting ADA’s recent market behavior, the coin has witnessed a 34% depreciation year-over-year. In a broader market perspective, it trailed behind 59% of the premier crypto assets in the past year, and its performance seemed lackluster especially next to giants like Bitcoin and Ethereum.

Its current position below the 200-day simple moving average offers a pivotal perspective for market analysts and traders. The trading climate for ADA is further characterized by its 11 bullish days in the last month and a stark 92% drop from its historical high. At this juncture, Cardano teeters at $0.24, marking a slight 1.8% decline on the day.

In forecasting ADA’s potential trajectory, AI-driven predictions offer an intriguing perspective. Machine learning algorithms from Coin Codex project a promising outlook for ADA. According to their data models, a spike is anticipated in late December, pushing ADA above the coveted $0.50 mark.

As we approach the Cardano Summit, scheduled between November 2-5, one can’t help but wonder: With the community’s momentum and advanced predictive analytics leaning toward a bullish end to 2023, is the $0.50 target for ADA not just a possibility, but an impending reality? Only time will tell.

Disclaimer: The content on this site should not be considered investment advice. Investing is speculative. When investing, your capital is at risk.

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Price prediction using machine learning for Bitcoin on November 1, 2023

In a surprising turn of events on Monday, October 16, Bitcoin (BTC) experienced a swift ascent, peaking at a significant 10% gain and touching the $29,900 mark, its most impressive level since August. 

However, these gains were nearly erased when BlackRock, a prominent asset manager, dismissed claims from a report in the cryptocurrency news space. Specifically, Coin Telegraph had prematurely announced the U.S. Securities and Exchange Commission’s approval of BlackRock’s much-anticipated application for a Bitcoin spot exchange-traded fund (ETF). This news was later withdrawn by the media outlet.

The digital currency experienced a notable dip following a revelation by a Fox Business correspondent on platform X, who stated that BlackRock had repudiated the aforementioned report.

Amidst this backdrop of unexpected twists and turns, the market community appears divided in their outlook for Bitcoin’s trajectory as we advance into the second half of October, a month endearingly dubbed ‘uptober’ in the cryptocurrency sphere.

In search of a more quantified forecast, Finbold consulted the machine learning models at PricePredictions. Their projections suggest a bullish sentiment, anticipating that Bitcoin will inaugurate November at approximately $29,576, marking a commendable surge of over 4% from its current price of $28,421.

Bitcoin November 1, 2023 price prediction. Source: PricePredictions

Bitcoin price analysis

A retrospective glance at Bitcoin’s performance paints an interesting picture: the digital asset has registered gains on merely 13 out of the last 30 days, a rate of 43%. 

Nevertheless, its annual performance is stellar, boasting a 47% appreciation. It’s worth noting that Bitcoin has outshined 87% of the top 100 cryptocurrency assets over the same timeframe and has even overshadowed Ethereum. Currently, Bitcoin holds a position above the 200-day simple moving average, further underlining its robustness.

BTC 1-day price chart. Source: Finbold

For additional insights, Finbold reached out to Google’s Bard regarding the potential implications of a Bitcoin spot ETF approval. In response, Bard emphasized the transformative potential such an endorsement could have on Bitcoin’s valuation, echoing the consensus of numerous market analysts.

“Many analysts believe that it would lead to increased demand for Bitcoin, which could drive up the price. Some analysts have even predicted that the price of Bitcoin could reach $100,000 or even $200,000 if a spot ETF is approved.”

The AI platform identified several potential factors that may influence the price of Bitcoin if a spot ETF is approved. These factors include the general sentiment prevailing in the cryptocurrency market, the level of demand for Bitcoin from institutional investors, the regulatory framework governing digital assets, and the broader economic conditions.

Disclaimer: The content on this site should not be considered investment advice. Investing is speculative. When investing, your capital is at risk.

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Tether freezes 32 addresses containing $870k linked to illicit activity in Israel and Ukraine

Tether, the leading global stablecoin company, has restated its commitment to collaborating closely with law enforcement authorities worldwide in order to address the issue of terrorism and conflict financed by cryptocurrencies.

Thus far, Tether has provided assistance to 31 authorities on a global scale, conducting investigations in 19 different countries. This collaboration has resulted in the freezing of a cumulative sum of $835 million in assets, mostly linked to theft incidents such as blockchain and exchange hacks. A smaller fraction of these frozen assets may be attributed to other criminal activities. 

Of this total, $873,118.34 was frozen from 32 addresses on Tether after they were connected to illegal activities in Israel and Ukraine, according to the company in a blog post on October 16. To combat terrorism and war financing using cryptocurrencies, Tether has partnered with the NBCTF in Israel.

Tether security

Tether’s ability to freeze and return stolen funds to legitimate users demonstrates the innovative new capabilities and level of security that blockchain technologies can bring to the global financial system, even if it only represents a tiny drop in the $445 billion cost to the global economy due to cybercrime.

Tether has been supportive of law enforcement, but there are still journalists and critics within the blockchain industry who try to make a case against cryptocurrencies without holding the slow or poorly equipped traditional financial system accountable for failing to prevent the funding of criminal activities.

Tether CEO, Paolo Ardoino:

“Contrary to popular belief, cryptocurrency transactions are not anonymous; they are the most traceable and trackable assets. Every transaction is recorded on the blockchain, making it feasible for anyone to trace fund movements. Consequently, criminals foolish enough to employ cryptocurrencies for illegal activities will inevitably be identified.”

The preemptive efforts taken by Tether in cooperation with law enforcement agencies throughout the world demonstrate the industry’s ability to successfully counter illicit usage of cryptocurrencies. This demonstrates how the immutability of blockchain transactions may serve as an effective deterrence against criminal behavior.

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Trust Wallet unveils new brand identity in update to improve Web3 accessibility

Trust Wallet, a prominent wallet that supports many blockchain networks and enables users to retain control over their digital assets, unveiled a comprehensive rebranding initiative on October 16.

This undertaking encompasses the introduction of a fresh logo, a modernized application design, and an enhanced user experience, as per the latest information shared with Finbold.

The actions performed by Trust Wallet question serve to accentuate its fundamental ability to empower individuals, namely by instilling a sense of self-reliance and confidence.

Through its brand development, Trust Wallet seeks to enhance the accessibility of Web3 technology to the general public by offering a platform that effectively integrates a user-friendly interface with powerful features.

Trust Wallets biggest upgrade since 2017 inception

Trust Wallet CEO, Eowyn Chen, noted:

“This upgrade represents a pivotal milestone since our 2017 inception, marking the inaugural leap in our long-term strategy of empowering users’ financial freedom, with a series of upcoming updates.” 

He added:

“Trust Wallet has evolved to become more than just a wallet—it’s now a trustworthy gateway to the Web3 world. By offering user-centric products and services, we’re equipping people with the essential tools and technology to confidently explore what Web3 has to offer, ultimately granting them the financial autonomy they deserve.”

Trust Wallet’s new logo design. Source: Trust Wallet

Trust Wallet’s design 

The new Trust Wallet design has a fresh color scheme of Trust Blue and Trust Green. Both may be used in either bright or dim lighting, making them suitable for those with a wide range of vision impairments.

Beyond its new and improved look, it also boasts improved navigation that makes it easier to use the app’s many useful functions, such as wallet-switching and finding new tokens, and a striking new shield logo that conveys an air of total security. 

Built on an intuitive graphical user interface, Trust Wallet allows users to purchase, store, earn, and trade cryptocurrencies such as Bitcoin and Ethereum, as well as handle other types of digital assets such as NFTs.

Trust Wallet also facilitates a variety of activities, such as staking and cross-chain swaps, and supports about one hundred different blockchains. In addition to supporting 16 languages spoken on every continent, Trust Wallet has had over 70 million downloads throughout the world.

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XRP faces critical support test as market volatility persists

XRP, one of the prominent names in the cryptocurrency landscape, is currently undergoing a significant market test.

As of recent data retrieved by Finbold on October 13, the digital currency XRP is trading at $0.480887, showing a decline of 8% in the last week.

With its current state teetering close to the support level of $0.45522, many investors and market enthusiasts are closely watching to see if XRP can rally and challenge resistance level at $0.50917.

XRP 7-day price chart. Source: Finbold

This support level becomes even more critical when considering XRP’s performance over the past year. Despite the broader market turbulence and the immense volatility faced by the crypto sector, XRP has managed to increase its value by 7% in the last 12 months. This resilient performance has enabled it to outperform 72% of the top 100 cryptocurrency assets.

A point of concern for traders might be XRP’s current position below the 200-day simple moving average, which often serves as a metric for long-term market sentiment.

Furthermore, the token’s price chart has been predominantly red, with only 13 green days recorded in the past 30 days, constituting a mere 43% of bullish days.

Bullish divergence

Despite the bleak short-term outlook, chart analyst Jay Dee recently took to Twitter to shed some optimism on XRP’s trajectory. He emphasized the importance of patience and the need to filter out the noise from often irrelevant news surrounding the crypto space. Dee pointed out, “Though short term may look scary (even w/all these irrelevant news 🤦‍♂️), the weekly chart still creating ‘Hidden Bullish Divergence’ on RSI/SRSI.”

In layman’s terms, this bullish divergence on the Relative Strength Index (RSI) and the Stochastic RSI (SRSI) indicates that while prices are declining or remaining stable, the momentum behind the coin is building up. This could potentially forecast a bullish turnaround.

Disclaimer: The content on this site should not be considered investment advice. Investing is speculative. When investing, your capital is at risk.

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HopeCard public beta goes live connecting Web2 and Web3 for crypto users

The HopeCard, a protocol integrated into the HOPE Ecosystem, serves as a mediator between Web2 and Web3 platforms, facilitating cryptocurrency transactions for global users. has always shown its dedication to creating a highly exceptional decentralized financial ecosystem on a global scale, after a pioneering distributed stablecoin venture, and introducing the “HopeCard.”. Its primary objective is to provide crypto customers with comprehensive and dependable services. 

It is noteworthy that the public beta version of the HopeCard is set to go live on Friday, October 13 followed by the official launch later this month October 2023. To celebrate this remarkable achievement, is launching a number of incentive promotions open to all users.

HopeCard is designed to revolutionize the use of digital assets in daily life by functioning as a comprehensive cryptocurrency payment solution. It serves as a pivotal link between the existing physical and digital economies.

How does HopeCard work exactly?

The HopeCard is a Visa Platinum prepaid card that can quickly be loaded with cryptocurrencies and used like regular cash. Once the funds have been placed onto the card, they may be used at any merchant that accepts Visa Platinum cards. By bridging the gap between fiat and digital currencies, HopeCard makes it easier to use cryptocurrencies.

HopeCard is free to open, load, and withdraw from. All membership tiers have a $1 monthly cost. The starting membership tier is VIP1 and when consumers spend $5,000 or more, their VIP status is upgraded to VIP2, where they will have access to a slew of additional perks.

Gains are proportional to one’s $LT balance. HopeCard accounts may move up to VIP2 or VIP3 status with the deposit of 250,000,000 or 600,000,000 $LT.

There are VIP account tiers that provide users monthly refunds on their expenditures. VIP levels 1-4 get rebates based on their expenditure at 0.1%, 0.2%, 0.3%, and 0.4%, respectively.

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The concept of a decentralized cloud service refers to a system that operates on a distributed network of computers rather than relying on a centralized infrastructure. has recently declared its objective of establishing the most extensive Decentralized Physical Infrastructure Network (DePIN) for Artificial Intelligence (AI) on a global scale. intends to address the scarcity of GPUs for AI processing by procuring one million units from independent computing power sources. During the course of its development, it will establish the first decentralized cloud environment specifically designed for machine learning, according to the latest information shared with Finbold on October 11.

Since the rise of AI, GPU power has become an extremely valuable commodity. The price of training large-scale AI models has increased by roughly 3,100% annually, while demand for GPUs increases by a factor of 10 every 18 months.  This has resulted in higher prices and longer wait times for access to cloud services, inhibiting innovation and making it difficult for AI firms to get their feet off the ground. intends to fix this by putting to use the unused GPU power of computers all around the globe. This includes cryptocurrency mining farms, whose income has plummeted since Ethereum transitioned to Proof-of-Stake, and independent data centers, whose usual usage rate is barely 12-18%. will compete with established cloud providers like Amazon Web Services, Google Cloud Platform, and Microsoft Azure by making GPU processing more affordable, adaptable, and easily available. As a result of their efforts, large GPU clusters that can handle demanding machine learning workloads may be deployed with a single click and go live in under a minute. claims to be able to provide GPU computation for as much as 90% less than current market leaders.

Building a global network of user-supplied GPUs 

To accomplish these goals, seeks to build a worldwide network of user-supplied GPUs utilizing a rewards system that encourages involvement. Miners, independent data centers with underused computing capacity, and crypto projects with access to GPU computation are likely to be providers. GPU suppliers will be compensated for the computation they give, resulting in a robust market that will help the AI sector thrive.

Ahmad Shadid, Founder and CEO of, noted:

“AI is one step away from starting the Fourth Industrial Revolution, but current GPU providers can’t support the scale and speed of innovation. will be able to connect one million GPUs distributed across the globe in under 90 seconds, giving AI startups access to essential processing power on demand.”

The onboarding of crypto mining farms with massive quantities of GPU power and profit margins that have been cut in the present market situation is critical to attaining these goals. estimates that repurposing their farms for GPU providing might result in a 1,500% increase in earnings while using less energy. As it approaches its one million GPU objective, already has 36,000 GPUs at its disposal. 

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Artfi attracts over 25,000 collectors for fractionalized digital artwork in Web3

The art technology startup, Artfi, revealed on October 11 that it made its Genesis Pass whitelist available to the general public in anticipation of its forthcoming formal debut.

A total of ten thousand individuals who own the Genesis Pass non-fungible token (NFT)  will have the opportunity to get fractionalized artwork through the Artfi platform, and this initiative will begin with the renowned ‘The Six Elements’ series by Sacha Jafri, as per the latest information shared with Finbold on October 11 by the startup.

Over 25,000 individuals have already registered for the whitelist in anticipation of the first release of Artfi. The first fractionalized digital art collection by Sacha Jafri will serve as a demonstration of Artfi’s capacity to make tokenized art accessible to a wide audience.

By dividing an artwork into fractional shares, it becomes feasible to enhance ownership and liquidity, making valuable art more accessible to a wider range of collectors.

The artwork titled ‘The Six Elements’ byJafri originates from a commission from Rolls Royce, whereby the esteemed artist was commissioned to provide artwork for six Phantom Rolls Royce automobiles.

In this  endeavor, the artist produced a series of six paintings that are thematically linked to the fundamental elements of Earth, Air, Fire, Water, and Wind, with the inclusion of Humanity as the sixth element.

10,000 pieces from “The Six Elements” collection

Genesis Pass members will get one of 10,000 pieces from “The Six Elements” collection. In addition to having access to future fractionalized art sales hosted on the Artfi platform, token holders will get a free token airdrop.

Jafri was attracted to Artfi because of the company’s goal to make art accessible to more people via fractional ownership. He hopes that by making the works accessible on Artfi, as many people as possible would be able to enjoy and own a piece of his art. 

Jafri said: 

“‘The Six Elements’ is my first fractionalized collection. It’s a really cool opportunity to be part of the elements that make up our world and all humanity. Artfi doing this, through the democratization of art, opens up the opportunity for those who otherwise wouldn’t have had one. There’s a real chance that one creation, one moment, one part of my soul can now be owned by thousands of people. That’s a beautiful thing.”

The amount that was paid for an original piece of artwork created by Jafri ranks third all-time among the highest prices ever paid for a work of art created by a living artist. The global record for the biggest canvas, the acclaimed artist’s ‘Journey of Humanity’ canvas painting, sold for $62 million in 2021 after taking seven months to complete.

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Machine learning algorithm sets Cardano price for October 31, 2023

At present, Cardano (ADA) navigates through turbulent waters. As per the latest data, ADA trades around the $0.25 mark, presenting a less-than-rosy short-term prospect. 

The absence of distinct support levels fuels concerns of ADA potentially descending to a precarious $0.24 threshold. Recent market movements sketch a rather grim scenario for Cardano. In its heyday, the token found formidable support at the $0.5 mark. However, recent dynamics saw it breaking past this critical benchmark, hinting at a deeper downturn.

Yet, it’s not all storm clouds on the horizon. According to market data insights, Cardano boasts an impressive 611.47 GitHub commits within the past month, outpacing all its crypto counterparts. This surge propels it ahead of both Polkadot (DOT) and its canary test network, Kusama (KSM), which jointly occupy the second spot with 500.67 commits over the same duration. 

Such heightened development activity frequently signals robust developer confidence in a blockchain’s future and possibly hints at imminent enhancements within the ecosystem.

Given this juxtaposition of declining price and increased development, it becomes crucial to understand ADA’s potential trajectory. This dynamic interplay is precisely why Finbold turned to the predictive prowess of AI algorithms at PricePredictions. Such an approach offers a more comprehensive insight, marrying price patterns with developmental momentum, to gauge ADA’s expected position at the end of October.

According to the AI’s analysis, Cardano is anticipated to experience a subtle dip, with a projected trading price of $0.23.

Cardano end of October price prediction. Source: PricePredicitions

Cardano chart analysis

Cardano is presently trading at an evaluation of $0.24768, neatly anchored between a support at $0.235 and a resistance at $0.26076. As the eighth-ranked cryptocurrency by market capitalization, ADA has witnessed a sharp decline over the last year, registering a contraction of 38%. 

Cardano 1-day price chart. Source: Finbold

Technically, ADA is positioned below its 200-day simple moving average, which typically indicates a bearish sentiment. In the recent 30-day span, bullish momentum was evident on only 13 occasions, accounting for 43% of the days. From its pinnacle, Cardano has retraced a significant 92%, showcasing the distance it has to traverse to revisit its all-time highs.

Despite this setback, it’s notable that Cardano has outperformed 65% of the top 100 digital assets over the same timeframe. Notably, Both Bitcoin and Ethereum have outpaced ADA’s performance during this period. 

Disclaimer: The content on this site should not be considered investment advice. Investing is speculative. When investing, your capital is at risk.

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Ethereum’s bull run at risk? Inside ETH whales’ $8 billion sell-off

Ethereum (ETH), the second-largest cryptocurrency by market cap, has been at the forefront of the crypto bull run, amassing significant gains in the past year.

However, recent trends suggest that its upward trajectory might be under threat. Since February 2023, Ethereum whales, typically large holders with significant influence on market movements, have been consistently cashing in on the elevated prices. Their actions have led to the offloading or redistribution of over 5 million ETH, translating to an approximate value of $8.5 billion.

This whale-driven exodus is not a fleeting event. Ali Martinez, a noted crypto expert, highlighted on October 10 via X (previously known as Twitter) that there’s a conspicuous absence of any signs indicating a shift toward ETH accumulation. 

ETH whales selling spree. Source: Ali Charts

With Ethereum trading at $1,588 at the time of writing—1.23% down in the last 24 hours and shedding 4.43% over the past week—the market seems to be in a cautious mood.

ETH technical analysis

From a technical standpoint, Ethereum has marked important price levels to watch. Strong support lies at $1,498.81, with resistance hovering around the $1,666.23 mark. While the token has impressed with a 22% growth over the past year, outperforming 84% of the top 100 crypto assets, its recent performance raises eyebrows. Out of the last 30 days, only 16 have been in the green, at 53%, and is currently trading at $1,589.

ETH 1 day price chart. Source: Finbold

Another alarming signal is Ethereum’s position concerning its 200-day simple moving average—a key metric for understanding long-term market trends. Currently trading below this average, it reflects bearish sentiment. Not to mention Ethereum is also down 67% from its all-time high.

In the fast-paced world of cryptocurrencies, the movements of big players, or ‘whales’, can often provide early warning signs of impending market shifts. 

While Ethereum’s long-term prospects remain promising, given its historical performance and the myriad of real-world applications it supports, the recent actions of whales, coupled with some concerning technical indicators, suggest that investors should proceed with caution.

For now, the market watches and waits, with many hoping for a return to bullish sentiment soon.

Disclaimer: The content on this site should not be considered investment advice. Investing is speculative. When investing, your capital is at risk.

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Bitcoin’s rocky start: Price drops below $27.7k, can BTC recover?

Bitcoin (BTC) has commenced the week with substantial volatility, plunging below the $27,700 mark. 

Currently trading at $27,546, the premier digital currency has diminished by 1.19% within the past 24 hours after testing the resistance slightly below $28,000. Over the past week, the cryptocurrency has seen a decline of 2.71%, bringing its market cap to $537 billion.

While Bitcoin wrestles with the bears, altcoins, too, face the tremors of this market correction. The wider altcoin market has experienced a downtrend; however, there are exceptions, with specific tokens witnessing impressive rallies. Nonetheless, the larger picture reveals a predominant correction phase.

Prominent market analyst Michael van de Poppe commented on the situation today, noting, “Preferably, I’d like to see Bitcoin continue to make higher lows and hold above $27,500.” The close proximity of the current trading price to this recommendation is indicative of a precarious position.

Crucial level to support for BTC. Source: Michael van de Poppe:

BTC performance 

A glint of optimism shines through when we consider the yearly performance of Bitcoin. Over the past 12 months, Bitcoin’s value has surged by an impressive 42%. Furthermore, this growth trajectory has made it outperform 87% of the top 100 crypto assets. 

Key levels to observe in the forthcoming days include a support threshold of $27,197 and a resistance cap of $28,515. If the premier cryptocurrency can maintain its position above the $27,500 mark, as pointed out by van de Poppe, we might witness a consolidation phase before a possible bullish run.

BTC 1-day price chart. Source: Finbold

One beacon of hope for long-term holders and investors is that Bitcoin is trading above its 200-day simple moving average. This is often perceived as a bullish indicator in traditional market analysis. Nevertheless, with only 14 green days in the past month, amounting to 47% of the time, short-term traders need to tread cautiously.

While the immediate landscape for Bitcoin seems cloudy, its year-long performance provides a silver lining. As Bitcoin hovers around critical price levels, the coming weeks will be crucial in determining its trajectory for the remainder of 2023.

Disclaimer: The content on this site should not be considered investment advice. Investing is speculative. When investing, your capital is at risk.

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Bulls vs. Bears: Crypto analysts split on Bitcoin predictions

Bitcoin (BTC) stands at an intriguing crossroads, displaying resilience and sparking debates among crypto market analysts. 

With a current trading value of $27,972, the flagship cryptocurrency has surged impressively by 2.09% in the last 24 hours and a substantial 5.49% over the week after briefly breaking the pivotal $28,000 threshold on October 5. 

Bitcoin 1-day price chart. Source: Finbold

This bullish momentum has prompted crypto expert Michaël van de Poppe to offer an optimistic outlook, asserting confidently on X (formerly Twitter), “Bitcoin is very much ready to reclaim $29,000-30,000 and target new highs.”

Van de Poppe’s bullish sentiments are grounded in the recent successful breach of the $28,000 mark, highlighting a potential momentum shift in favor of Bitcoin. His forecast not only reflects current positive market dynamics but also positions Bitcoin for a bullish trajectory, anticipating new peaks in the near future. 

This upbeat perspective aligns with the broader trend of Bitcoin’s historical resilience, demonstrating its ability to bounce back and establish new highs after periods of consolidation.

Bear flag appears on Bitcoin chart

However, amidst the prevailing optimism, there exists a dissenting perspective voiced by crypto analyst Ali Martinez. Martinez introduces a note of caution by suggesting that Bitcoin might be forming a bearish pattern, specifically a bear flag. 

This classic chart pattern, according to Martinez, is often indicative of a continuation of the BTC downtrend. It introduces an element of skepticism into the narrative, urging investors to tread carefully and consider the possibility of a market correction.

The dichotomy between these two perspectives underscores the inherent uncertainty within the crypto market. Investors are faced with the challenge of discerning the true trajectory of Bitcoin amidst the conflicting signals. While van de Poppe’s bullish outlook is buoyed by recent positive momentum, Martinez’s cautionary stance serves as a reminder that the crypto landscape is rife with unpredictability.

The battle between bulls and bears in the crypto market is far from settled. As Bitcoin aims to maintain support above $28,000, investors must navigate these conflicting narratives with prudence.

The real-time technical analysis overview of gauge displays over a 1-day period offers a summary of Bitcoin based on the most popular technical indicators, such as moving averages and oscillators, suggesting a ‘Buy’ at 15 with ‘Neutral’ at 10 and ‘Sell’ at 1.

Bitcoin 1-day gauges. Source: TradingView

The coming days may unveil whether Bitcoin surges to reclaim higher milestones or succumbs to the bearish signals highlighted by Martinez, making each move in the crypto market a strategic decision in this high-stakes chess game.

Disclaimer: The content on this site should not be considered investment advice. Investing is speculative. When investing, your capital is at risk. 

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Machine learning algorithm sets XRP price for October 31, 2023

In a pivotal turn of events for Ripple, the U.S. Securities and Exchange Commission (SEC) has faced a setback as its appeal, alleging the illicit sale of securities by the company, has been dismissed. This development wielded immediate repercussions on the valuation of XRP.

The judicial favor bestowed upon Ripple unquestionably functioned as a catalyst for the fluctuation in XRP’s market value. Nonetheless, it is imperative for traders and investors to approach the situation judiciously. Despite the cryptocurrency surpassing the $0.52 resistance threshold and maintaining a position above the 50-day Exponential Moving Average (EMA), it’s premature to categorize this as a definitive breakthrough.

Concurrently, in sync with the recent proceedings, U.S. District Judge Analisa Torres rejected the SEC’s bid to appeal a segment of her earlier decision in the high-profile lawsuit against Ripple Labs. Simultaneously, Ripple achieved a significant milestone by securing a cryptocurrency license in Singapore, solidifying its strategic move into the Asia-Pacific (APAC) region.

An investigative foray conducted by Finbold on October 5 delved into the utilization of machine learning algorithms by PricePredictions, a cryptocurrency monitoring and prediction platform. The objective was to gauge the potential trajectory of XRP’s price by the end of October, taking into account the judicial ruling and Ripple’s attainment of a payments license in Singapore.

The prediction which is gathered by using several key technical indicators, including the moving average convergence divergence (MACD), relative strength index (RSI), Bollinger Bands (BB), and more, projects an increase to $0.550420 by October 31.

XRP October 31 price forecast. Source: PricePredictions

XRP price analysis

Chart analysis of XRP reveals its sustained position above the 50-day and 200-day EMAs, affirming bullish market signals. A breakthrough beyond the trend line and the resistance level at $0.5470 could empower the bulls to challenge the $0.5835 resistance level.

XRP 1-day price chart. Source: Finbold

However, caution is warranted, as selling pressure is anticipated to intensify at the $0.5835 mark, coinciding with the trend line.

Ongoing updates from the SEC vs. Ripple and Coinbase legal battles are poised to sway investor sentiment. A favorable ruling by Judge Failla in the Coinbase Motion to Dismiss (MTD) could prove advantageous not only for XRP but also for the broader cryptocurrency market.

Conversely, a dip below the 50-day and 200-day EMAs would bring the $0.5042 support level into play, signaling a potential shift in the prevailing market dynamics.

Disclaimer: The content on this site should not be considered investment advice. Investing is speculative. When investing, your capital is at risk.

The post Machine learning algorithm sets XRP price for October 31, 2023 appeared first on Finbold.

Machine learning algorithm sets Terra Classic price for October 31, 2023

The price of Terra Classic (LUNC) has seen a decline of 3% throughout the preceding 24-hour period, resulting in its value dropping to $0.00005852. Consequently, this altcoin now occupies the 90th position in the hierarchy of cryptocurrency market capitalization rankings.

LUNC has seen a decrease of 9% over the course of the previous week. Although it has shown an increase of 3% over the last 14 days, it continues to exhibit a decline of 1% over the span of a month and a substantial decrease of 81% over the last year.

The observed declines indicate a sustained downward trend that has affected LUNC since 2023. The community associated with the currency has encountered difficulties in their efforts to enhance the value of both LUNC and its associated stablecoin, USTC.

It seems probable that LUNC will have a sustained decline in the future, prompting Finbold to delve into the employment of machine learning algorithms by PricePredictions, a cryptocurrency monitoring and prediction platform, on October 4. The objective was to assess the potential price of LUNC at the end of October based on the latest developments.

According to the analysis, Terra Classic is projected to decline to $0.000055 by October 31. The prediction is gathered by using several key technical indicators, including the moving average convergence divergence (MACD), relative strength index (RSI), Bollinger Bands (BB), and more. 

However, if proactive measures are implemented to enhance its ecosystem and value, there is a possibility of a subsequent resurgence in its price.

Traders losing interest in LUNC

Technical signs show that LUNC is sliding again after riding the market rebound on Monday, October 2.

Several recently agreed governance changes have not significantly impacted LUNC’s price, suggesting that the broader market has lost interest in the cryptocurrency.

New to the ballot for Terra Luna Classic is a proposal to support a team of developers with the stated goal of implementing a comprehensive roadmap of enhancements and adding “value to the Terra Classic blockchain so that we can help push this chain where it deserves to go.”

Terra Classic chart analysis

Diving into the current market dynamics, Terra Classic is navigating the intricate web of value with its current trading price at $0.00005852. A discernible 3.16% downturn within the last 24 hours and a more substantial 9.81% decrease over the week presents a nuanced narrative.

LUNC 7-day price chart. Source: Finbold

Now, shifting focus to LUNC’s price analysis we take a deeper plunge into the intricacies of its price action. The resistance level, standing at $0.00006, acts as a psychological barrier where selling pressure tends to intensify.

On the flip side, its support level at $0.00005 denotes a critical threshold where buying interest tends to materialize. This interplay between resistance and support levels unveils the underlying tug-of-war within LUNC’s market ecosystem.

Disclaimer: The content on this site should not be considered investment advice. Investing is speculative. When investing, your capital is at risk.

The post Machine learning algorithm sets Terra Classic price for October 31, 2023 appeared first on Finbold.

Crypto recession alert: Mike McGlone signals troubles ahead

Mike McGlone, Commodity Strategist at Bloomberg, highlighted on X (formerly Twitter) on October 2, 2023, the concerning trend in the cryptocurrency market despite Bitcoin (BTC) rising above $28,000 on Monday. 

McGlone noted that cryptocurrencies are currently grappling with the specter of a recession, and the third quarter’s weakness in the crypto space could either be a transient recovery blip or a more ominous sign of an impending recession. The prevailing sentiment, as indicated by the analyst, leans towards the latter possibility.

“Crypto weakness in 3Q may be a recovery blip or a recession leaning. Our bias is the latter, as almost all risk assets gained in 2023 and rolled over into the quarter.”

Cryptos face a potential recession. Source: Bloomberg Intelligence

The rationale behind this perspective is rooted in the performance of various risk assets throughout 2023, which exhibited gains but subsequently experienced a downturn in the current quarter.

Despite signals of economic contraction in the US and Europe, coupled with a property crisis in China with deflationary implications, most central banks persist in their tightening measures. This backdrop sets the stage for a nuanced analysis of the crypto market.

Parallels between 1987 and 2008 peak oil prices

The Bloomberg Galaxy Crypto Index (BGCI) is observed to have underperformed relative to expectations. The analyst suggests that this may signify a fundamental shift for an asset class that had become accustomed to thriving in a zero-interest-rate environment. 

Drawing historical parallels, the strategist points to instances such as the spike in US Treasury yields preceding the 1987 crash and the peak in crude oil prices in July 2008.

The narrative further explores the correlation between Bitcoin’s downturns and Federal Reserve policy pivots. This observation suggests that Bitcoin’s movements could serve as a leading indicator, providing insights into potential shifts in broader market liquidity. 

McGlone emphasizes the inevitability of time playing a crucial role, drawing a parallel to the cautious perspective held on crypto ETFs when the BGCI was launched in 2018.

“Bitcoin swoons have preceded Federal Reserve pivots, which may underscore the crypto’s leading indicator attributes and what might be needed to revive liquidity.”

In summary, the market analysis underscores the vulnerability of the crypto market to broader economic trends, signaling a cautious outlook with the potential for a protracted recessionary phase.

Disclaimer: The content on this site should not be considered investment advice. Investing is speculative. When investing, your capital is at risk.

The post Crypto recession alert: Mike McGlone signals troubles ahead appeared first on Finbold.