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Elon Musk says He’s “Off Twitter For a While” After Sending DOGE and BTC Soaring

Elon Musk is taking a break from Twitter after a few weeks of market-moving opinions on Dogecoin and Bitcoin.

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Elon Musk is taking a break from Twitter after a few weeks of market-moving opinions on Dogecoin and Bitcoin.

Elon Musk says he’s “Off Twitter For a While” After Sending DOGE and BTC Soaring

The Tesla and SpaceX founder also voiced his support for the actions of the Reddit group WallStreetBets (WSB) while slamming the hypocrisy of hedge funds complaining while profiting from their own form of exclusive market manipulation.

The world’s second-richest man, Musk said tweeted today:

“Off Twitter for a while”

With the influence Musk currently seems to hold over the crypto markets and all markets in general, perhaps the Tesla CEO spending some time in lieu may be a good thing.

DogeCoin (DOGE) Tweets

DOGE is also allegedly the favorite cryptocurrency of Tesla founder Elon Musk. The billionaire previously touted the cryptocurrency on his Twitter, pumping up the price just with a simple tweet that read, “One Word: Doge.”

The Tesla founder also playfully touted himself as the founder of Doge on social media. Following this simple and playful tweet, the price of Dogecoin immediately surged by 25% exemplifying the influence the SpaceX founder has on the markets.

GameStop Tweets

Amid the market controversy surrounding the WSB Reddit group and the short squeeze play on GameStop shares—Musk showed public support for the Reddit groups success and condemned the actions of the hedge fund manager’s shorting stocks at all. Musk Tweeted:

u can’t sell a house u don’t own,

u can’t sell cars u don’t own

but u *can* sell stock u don’t own!? (sic)

This is bs – shorting is a scam, legal only for vestigial reasons.

On Musk’s announcement that he will be taking a step back from Twitter, the self-identified Chairman of Wall Street Bets tweeted his own thanks to the billionaire— he wrote:

“Thank you for everything Elon”

Bitcoin

The Tesla CEO has always danced around the subject of Bitcoin—in December 2020, the crypto world was fixated on a Twitter exchange between Tesla and SpaceX founder Elon Musk and MicroStrategy’s CEO Michael Saylor, which led to Saylor offering to share his Bitcoin playbook.

Last week however, Musk added #Bitcoin to his Twitter profile and officially publicly endorsed the cryptocurrency for the first time, which sent the Bitcoin price surging to $38,000 over the weekend, before coming back down to the low $30,000 region.

The Bitcoin price has stagnated since , trending sideways between $32,000 and $34,000 but has shown new signs of strength breaking above $35,000 today.

As Elon Musk announces is time in lieu from Twitter, Blockstream’s CSO Samson Mow asked the billionaire for one more shoutout to Bitcoin to send the price surging.

Mow tweeted:

Can we get another #Bitcoin tweet before you go.

Musk unfortunately has not complied with Mow’s request.

Image source: Shutterstock

Source: https://blockchain.news/news/elon-musk-says-off-twitter-for-a-while-after-sending-doge-and-btc-soaring

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Polkadot (DOT) Price Analysis – April 21,2021

If the overall crypto market remains bearish, Polkadot (DOT) may follow the broader market trend and continue its current downward momentum, falling below the $30 mark.

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Polkadot (DOT), created by the co-founder of Ethereum, Gavin Wood, aims to solve the problem of high gas fees experienced on Ethereum.

The Polkadot network provides a heterogeneous multi-chain interchange and translation architecture to connect private and consortium chains with public and permissionless networks.

Based on the Polkadot network and its “sister” test network Kusama, a new set of products will be launched on the market this month to build a decentralized and affordable DeFi.

Source: StakingRewards

According to data from StakingRewards, Polkadot is currently the second-largest blockchain in terms of the staked value, worth about $24,074,650,618. Polkadot’s pledge ratio is as high as 64.96%.

The largest crypto asset is locked in Cardano at $28,622,444,193, while its average annual staking reward (7.27%) is lower than DOT. Stakeholders of DOT could get a 13.11% reward every year.

Polkadot set a new all-time high of $49.20 on April 17. The bulls failed to sustain their bullish momentum. In the past few days, it suffered a large loss, from $49.20 to $34.33 today.

If the overall virtual currency market remains sluggish, DOT may follow the broader market and continue its current downward trend, falling below the $30 mark.

Polkadot (DOT) Price Analysis

Source: DOT/USD Daily via TradingView

Polkadot (DOT) has suffered huge losses and the massive sell-off caused the price to fall by 21.66% within the past 7 days.

After the massive sell-off last weekend, the DOT rebounded yesterday, and the bulls worked hard to rebound the price from yesterday’s $31.40 area to a daily high of $36.15. However, the bulls were unable to sustain the gains and quickly lost momentum, allowing the bears to control the market.

DOT/USD prices are moving under the Exponential Moving Average (EMA) ribbon. The MACD index is still in a bearish zone, indicating that it may sell further in the next few days. If the current trend continues, DOT may fall towards its 100-day Simple Moving Average of $30.75.

The RSI of DOT is $40.44, which is lower than the equilibrium point indicates that the bears are currently dominating the market. If the DOT fails to defend its support point at $31.40, the cryptocurrency may record further losses.

Contrary to this assumption, if the currency pair rebounds from the current level, it indicates strong buying on dips. DOT will seek to run at the 50-EMA of $36.55 resistance level. If the DOT’s price can stand above the 20-EMA of $38.88, then the bulls will try to push the price to a record high of $49.20.

Image source: Shutterstock

Disclaimer: The views and opinions expressed in this article are solely the author’s and do not necessarily reflect the views of Blockchain.News. No information in this article should be interpreted as investment advice. Blockchain.News encourages all users to do their own research before investing in cryptocurrencies.

Source: https://blockchain.news/analysis/polkadot-dot-price-analysis-april-21-2021

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Japanese Crypto Exchange Relaunches XRP Trading, Will Other Exchanges Relist XRP?

It appears that Japanese crypto exchange Decurret has reinstated XRP cryptocurrency trades on its platform, amid the Securities and Exchange Commission’s lawsuit against Ripple.

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It appears that Japanese crypto exchange Decurret has reinstated XRP cryptocurrency trades on its platform, amid the Securities and Exchange Commission’s lawsuit against Ripple.

This is a major win for XRP holders who have taken it upon themselves to popularize “#RelistXRP” on Twitter, following a court win by Ripple.

In March, during a discovery hearing, a SEC lawyer implied through his response to Magistrate Judge Sarah Netburn that cryptocurrency exchanges were not in violation of securities laws by listing XRP. When prompted by Judge Netburn to clarify on whether everyone who has ever sold XRP was in violation of securities laws, he said, “Only Ripple and affiliates of Ripple can have sold XRP illegally.” This caused an uproar among the XRP community, and many took to Twitter to probe cryptocurrency exchanges to “relist XRP.”

Currently, it appears that one of the biggest cryptocurrency exchanges in Japan, dubbed Decurret, has relaunched XRP services on its platform. The cryptocurrency is currently available for trade, with trading pair options involving Japanese Yen and Bitcoin being announced.

The crypto platform seems to have resumed XRP trades, regardless of the lawsuit. This may prompt many to consider relisting XRP, especially if exchanges are assured that they will not be in violation of securities laws with a relisting of XRP.

Will crypto exchanges relist XRP?

In December 2020, when the SEC moved to sue Ripple Labs and its lead executives Brad Garlinghouse and Chris Larsen for offering unregulated and unregistered digital asset securities through XRP, many exchanges withdrew their support of the cryptocurrency, in fear of the legal repercussions it may pose. Major crypto platforms such as Binance US, Kraken, and Coinbase all halted or delisted XRP on their platforms. However, with the way the lawsuit has been progressing, crypto exchanges may soon reverse their decision, especially if there is certainty that they will not be pursued by the SEC.

Previously, attorney Jeremy Hogan, who analyzed the hearing between Ripple and the SEC, said, “Exchanges that delisted XRP two months ago were not and would not be violating securities laws if they relisted XRP for sale and began to sell it again.” This observation was made in response to the SEC lawyer’s comment that not everyone who has ever sold XRP would be held accountable for offering illegal securities, “only Ripple and affiliates of Ripple.”

In addition to this, Ripple-affiliated banking giant SBI has announced that its shareholders will be rewarded with XRP as part of its end-of-year benefits package. The Japanese investment behemoth said that shareholders must hold at least 1 unit of the SBI shares, which is equivalent to 100 shares, and this requirement must be met by March 31, 2021, at the latest.

The amount of XRP that will be rewarded will be determined on June 30, 2021.

Currently, XRP has breached the $1.00 threshold on the market. Despite currently experiencing a pullback from its astronomical surge last week, where it touched $1.90, this correction is seen as healthy. XRP has been doing well and seems to have broken through its overstretched slump dating back to December 2020, where the cryptocurrency plummeted to $0.20 following the lawsuit against Ripple.

The outcome of the lawsuit is likely going to influence its performance on the market, and many market analysts are expecting the cryptocurrency to surge to new heights, especially if the outcome of the lawsuit is favourable for Ripple.

Image source: Shutterstock

Currently, it appears that one of the biggest cryptocurrency exchanges in Japan, dubbed Decurret, has relaunched XRP services on its platform. The cryptocurrency is currently available for trade, with trading pair options involving Japanese Yen and Bitcoin being announced.

Source: https://blockchain.news/analysis/japanese-crypto-exchange-relaunches-xrp-tradingwill-other-exchanges-relist-xrp

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Rothschild Investment Corp Acquires Over 250M Shares in Grayscale ETH Trust

The Rothschild Investment Corp has revealed that it has taken up a new crypto position by purchasing 265,302 shares of Grayscale Ethereum Trust.

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In a recent filing with the United States Securities and Exchange Commission (SEC), the Chicago-based Rothschild Investment Corp revealed that it has purchased 265,302 shares in Grayscale’s ETH trust, while also adding to its Grayscale Bitcoin Trust holdings.

The filing revealed that the total GBTC shares the company owns stands at 38,346, a boost from the 30,454 shares it owned in January. The Ethereum holdings with the group represent a new position.

There are speculations amongst market observers that the first quarter of the year has a lot of influx of institutional investment into the digital currency ecosystem through trusts such as Grayscale’s. The speculations are rife as this period coincides with the great push in the price of Bitcoin (BTC), Ethereum (ETH), and the entire cryptocurrencies as a whole.

The Rothschild Investment Corp was established in 1908 by Monroe Rothschild and brother-in-law Samuel Karger and the firm has no affiliations with the infamous Rothschild family dynasty. The firm is one of the earliest mainstream investment outfits to dabble into cryptocurrencies, owning as much as $210,000 worth of GBTC back in 2017 according to an earlier filing with the SEC. At the time, Bitcoin was priced somewhere around $2000 per coin.

The potentials for BTC to serve as a viable and functional store of assets for corporate firms is no longer disputable. Firms like business intelligence and software firm MicroStrategy Incorporated, electric automaker Tesla Inc and Square Inc amongst others rank as some of the outfits divesting their excess liquidity into the growing asset class. Besides the Rothschild Investment Corp, Chinese tech company, Meitu Inc is also a prolific Ethereum investor.

The digital currency ecosystem is still relatively new, and the flow of institutional funds by firms like Rothschild, and the other acclaimed crypto-backers will help fast-track the long-sought shift into the mainstream adoption era.

Image source: Shutterstock

Source: https://blockchain.news/news/rothschild-investment-corp-acquires-250m-shares-grayscale-eth-trust

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