Bitcoin Price: Best Cryptocurrency Prices Today: XRP, Dogecoin, and Cardano Gain Up to 17%
The jump in value also put the $ 100,000 goal back in the spotlight. Social media traders and analysts have started projecting Bitcoin’s rise to ‘the moon’ and ‘infinity’.
After the London Fork upgrade last week, gas charges on the network spiked and ETH consumption rates produced nearly 800 deflationary blocks yesterday. The network has been under heavy load since the upgrade last week, which resulted in much more gas being burned, ZebPay Trade Desk said.
“The amount of ETH burned exceeds the mining reward, this results in the production of deflationary blocs and the supply temporarily decreases, which in turn creates upward pressure on the asset’s prices, but only for a short time. period, “he added.
The surge in gasoline costs is not attributed only to the hard fork that took place last week, but was also triggered by activity in non-fungible tokens. The OpenSea marketplace, Gala Games’ Vox and Axie Infinity are among the top four contributors to gas combustion.
A company specializing in the transfer of cryptocurrency said on Tuesday that hackers had hacked its security, escaping with record loot potentially worth $ 600 million.
Technical view by Giottus Cryptocurrency Exchange
2021 has truly been a roller coaster for Internet Computer (ICP), where it peaked at around $ 700 in May when it launched. The goal of the ICP Network has been to help developers create websites, corporate computer systems, and DeFi applications by “putting their code directly on the public Internet”.
After May, ICP dropped for a long time to around $ 27, making it look like a âstack drawâ – a typical crypto scam. But lately, ICP has gained in volume again. ICP will likely see a good rally in the next bull run and possibly break its all-time high.
ICP hits higher near-term highs, with several large green candles followed by a few short red candles. This setup makes ICP moves easy to predict and perfect for scalping or swing trading. Interestingly, even when BTC was not stable, local support from ICP held up well. As it is trading in the $ 70 range, its next major resistance is a good distance away at $ 77, followed by $ 93, where it may experience prolonged selling pressure.
The price of ICP has apparently bottomed out and it is bullish. Based on the latest breakouts, to find a local low in the ICP, investors should look for an upward wedge in the daily cycle and a possible breakout.
Support: $ 55.6, $ 47.5
Resistance: $ 77.1, $ 93.7
(The opinions and recommendations given in this section are those of the analysts and do not represent those of ETMarkets.com. Please consult your financial advisor before taking a position in the asset (s) mentioned.)