Bitcoin, Ethereum Technical Analysis: BTC Surges by $2,000, Climbing Above $23,000 as Fed Hikes Bank Rate

Crypto prices surged in today’s session, as markets continued to react to the Federal Reserve’s latest interest rate hike. The Fed opted to raise rates by 75 basis points (bps) for a second consecutive meeting. Bitcoin briefly rose above the $23K mark earlier in the day, with ethereum rallying to a fresh six-week high over the $1,600 mark.

Bitcoin

Bitcoin (BTC) was trading higher on Thursday, as prices rose following the latest interest rate hike from the Federal Reserve.

The move by the bank to boost the federal funds rate by 0.75% pushed bitcoin to an intraday high of $23,358.34 earlier in today’s session.

As of writing, this is the highest level BTC/USD has hit since last Friday, June 22, when prices were held close to a resistance level of $24,000.

Looking at the chart, earlier gains have somewhat eased, with some bulls opting to abandon their positions, as opposed to attempting to extend the uptrend, leading to bitcoin now trading at $22,949.05.

This may have occurred due to the fact that the 14-day relative strength index (RSI) collided with a ceiling of its own, at 57.

Should traders hope to push the token back above $23,000, this ceiling will need to be broken.

Ethereum

In addition to bitcoin, ethereum (ETH) was also in the green on Thursday, as prices moved past a key resistance level.

ETH/USD briefly broke out of its resistance point at $1,645 in today’s session, hitting a high of $1,666.88 in the process.

This was the highest price for ethereum since June 10, when prices were trading at a high above $1,800.

However, like bitcoin, earlier bullish momentum has given way as today’s session has progressed, with the token now trading at $1,619.57.

Looking at the chart, it now appears as if the earlier rally above the ceiling of $1,645 might be a false breakout.

In addition to this, the RSI is now tracking at 62.58, which is relatively near the next resistance point of 66, which might have prompted bulls to exit, thus avoiding the imminent obstacle.

Register your email here to get weekly price analysis updates sent to your inbox:

Could ethereum climb to a high of $1,700 by the end of the week? Leave your thoughts in the comments below.

via Eliman Dambell

Read More

UK National Crime Agency Seizes $33 Million in Cryptocurrency

The British National Crime Agency (NCA) has revealed that it has seized £26.894 million ($32.75 million) in cryptocurrency. “Criminals increasingly exploited financial technology and crypto assets” that could harm “the U.K.’s economy and institutions,” said the agency.

NCA Seizes Crypto Worth $33 Million

The British National Crime Agency (NCA) published its annual report 2021-22 this week. The NCA “leads the U.K.’s fight to cut serious and organized crime, protecting the public by targeting and pursuing those criminals who pose the greatest risk to the U.K.,” its website states.

The report details that between April 1, 2021, and March 31, 2022, the NCA seized property worth £59.79 million, stating:

Seized property held by the NCA as at 31 March 2022 consisted of £59.79m … in cash, motor vehicles and other valuables suspected of being derived from criminal activity.

The NCA also revealed that £26.894 million ($32.75 million) in cryptocurrency was among the property seized. In contrast, no cryptocurrency was seized in the year 2020-21. The agency did not specify which cryptocurrencies it seized.

The NCA also noted in the report that “Criminals increasingly exploited financial technology and crypto assets” that could harm “the U.K.’s economy and institutions.”

Morgan Heavener, a partner at consultancy Accuracy, commented: “The NCA has been forced to move swiftly to try and stem the use of these cryptocurrencies in financial crimes. The lack of regulatory oversight around cryptocurrencies makes them attractive for criminals seeking to move funds around the world.”

Other British regulators have also seized cryptocurrencies over the years. In January, 12 U.K. police forces announced that they seized cryptocurrency worth approximately £322 million in criminal investigations in the last five years. In July last year, the British Metropolitan Police said it seized £180 million in cryptocurrency as part of a money laundering investigation.

What do you think about the NCA seizing cryptocurrency? Let us know in the comments section below.

via Kevin Helms

Read More

ROLA Brings You the Best Predict-to-Earn Ecosystem

PRESS RELEASE. ROLA, a community-driven platform for the crypto industry, allows users to participate in AI-based predictions on all market aspects while leveraging real-time market insights on top of professional analysts’ knowledge. The ROLA app enables users to consume market insights while improving from the users’ votes. The algorithm thus improves from the signals it receives from the community and, in return, provides accurate predictions. In this way, ROLA is strongly driving a Predict-To-Earn ecosystem.

What ROLA Brings To The Web3 Community

The crypto community has witnessed projects backed by a robust social community, and tokenomics that have survived every market cycle. One such project about to enter the blockchain ecosystem is ROLA.ai.

When ROLA began to develop their Web3 project, the first thing they addressed was to be not only community-driven but also community-centric. Most projects after the successful ICO tend to cater less to the community that largely contributed to the success, but with ROLA, the community is always the priority. Read along about ROLA and how they are changing the dynamics of the Web3 community participation.

Understanding The ROLA Ecosystem

ROLA’s AI-based tools help members make informed decisions and learn how to trade cryptocurrencies while having plenty of fun. The ROLA ecosystem is laden with a plethora of features that users can leverage to their benefit. It offers

AI-Based Signals

ROLA presents users with AI-based signals for up to 120 crypto pairs with more pairs to be added in future. The real-time feed on crypto pairs keeps the ROLA community updated. Users can read the signals and community votes on the crypto pairs and track the price movement of their favorite coin. The reiterative open learning algorithm- ROLA is reiterative in the sense that it continually absorbs the wisdom of the community. The base layer of the Meta AI engines gains knowledge and makes improvements based on market data; The second layer contains user voices and forecasts and derives insights from them.

The AI ​​accumulates and evolves as more predictive inputs are ingested into the ecosystem as ROLA’s social community and network grow, providing better insights to users. By doing this, we set up a feedback loop where the community informs an AI, which then assists the community in return.

Game-fi: Prediction-To-Earn Gaming Ecosystem

ROLA has incorporated an enticing experience in the shape of Predict-To-Earn games to promote user engagement and interactivity. The gameplay allows community members to enjoy and challenge other Rolarians in meme wars and other games.

Predict 2 Earn is based on the concept of the play-to-earn game model, where users are incentivized for their gameplay. Users in the ROLA ecosystem earn $ROLA tokens by making predictions on top crypto assets like Bitcoin and Ethereum. The predictions are categorized into three sessions, each lasting 8 hours (and user predictions are closed 1 hour before the end of that session).

Users need to predict whether the 8-hour session will end in green or red, which symbolizes the trade’s candlestick pattern. The reward is calculated based on the participation rate, the number of users and the number of close predictions of the outcome. A random draw takes place if too many users vote simultaneously to validate the predictions. In addition, all active participants are rewarded with Rolagram NFTs.

Social-fi – The Social Media App

The social-fi media app allows users to browse popular crypto trends. ROLA will introduce a subscription based service through which community members can also get in-depth information from seasoned cryptocurrency analysts and traders.

Users can also join paid Alpha channels (to be introduced post the launch) and get in touch with premium KOLs. Another option is to join public channels where users can discuss new projects and share valuable insights.

NFTs – ROLAGRAM

To reward users for their participation and activity throughout the month, ROLA has developed a unique hologram NFT- ROLAGRAM. This NFT is user-exclusive and is designed based on the activities that a user has performed. The algorithm takes in account details such as inputs from their monthly activities, engagement and voting history to generate Rolagram.

Each user gets one custom-designed NFT at the end of the month, which they can get by cashing in some $ROLA tokens. The company aims to make these NFTs tradeable soon after the launch. This also allows users to get more from the one-of-its-kind metaverse experience.

ROLAVERSE Brings Users True Metaverse Experience

ROLA, the first AI-based crypto community, aims to build a robust social ecosystem that includes all Metaverse features like Game-Fi and NFTs that will connect and empower the community. It transcends the conventional metrics of being limited to profit and strives for social connectivity.

It gives users the authentic decentralized experience of a metaverse where users can connect using Social-fi. They can also play games and earn rewards by staking their $ROLA tokens in the ROLACoaster game. Furthermore, the platform goes one step ahead and allows users to generate a custom NFT.

To Wrap It Up

ROLA is a next-generation social platform that uses Artificial Intelligence to deliver signals about crypto pairs to users and in return enhances its learning from the user feedback and voting. In addition to AI-based recommendations, ROLA offers gamified predictions about future price movements for leading cryptocurrencies.

As Rosalind Lee, the Chief Product Officer of ROLA mentioned “ROLA aims to build a rewarding community that is truly ‘WAGMI’. We are in it together and we all improve together.”

A dynamic and connected community is what the ROLA (Reiterative Open Learning Algorithm) ecosystem tries to establish. With a comprehensive (A.I.) ecosystem, it adapts to the community’s collective wisdom and reciprocates enhanced and tailor-made information to the community to benefit the “Rolarians.” By utilizing the reiterative deep learning model and the web 3.0 framework, ROLA gives you insights and inputs that enhance the intelligence of your ROLA pet. Follow ROLA on Twitter, and Discord to keep up with the latest industry developments.

 

 

 

---

This is a press release. Readers should do their own due diligence before taking any actions related to the promoted company or any of its affiliates or services. Bitcoin.com is not responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods or services mentioned in the press release.

via Bitcoin.com Media

Read More

Report: Terror Groups Using South African Financial System to Move Funds

Sympathizers of the terror group, the Islamic State (IS) are allegedly using South Africa’s financial system to channel funds to the group’s affiliates and networks in Africa. The United States government has so far sanctioned four South Africa-based individuals it accused of facilitating the transfer of funds to African terror groups.

Millions of Dollars Laundered

A new United Nations Security Council (UNSC) document alleges affiliates of the Islamic State (IS) in Africa are using the South African financial system to mobilize and launder millions of dollars.

As per a Bloomberg report, some Kenyan and Ugandan sympathizers of the terror group are said to be raising funds in countries like South Africa. The funds are then channeled to a rebel group operating in the Democratic Republic of Congo (DRC).

The report said while the Islamic State is believed to direct transactions that involve global affiliates, funding of African affiliates is normally handled by the terror group’s office in Somalia. Nevertheless, according to an unnamed (United Nations) member of the state, South Africa has emerged as an important center for “facilitating transfers of funds” from the group to its affiliates in places that include the DRC, Mozambique, and Nigeria.

According to the report, the United Nations “monitoring team is aware of several large transactions totaling more than $1 million.” The UNSC document according to the report, reveals that the United States government has so far sanctioned four people residing in South Africa whom it accuses of using the country’s financial system “to facilitate funding for ISIS branches and networks across Africa.”

Terrorist Groups Allegedly Seek Crypto Donations

Still, despite being watched, African terror groups continue to millions of dollars in funding from their backers. Al Shabaab — an affiliate of the Islamic State’s rival al-Qaeda — is thought to receive $24 million annually which is designated for weapons acquisitions, the report said. Overall, Al Shabaab is thought to earn between $50 million and $100 million.

Meanwhile, the UNSC document also claimed that both the Islamic State and al-Qaeda might be seeking to receive donations in the form of cryptocurrencies.

Register your email here to get a weekly update on African news sent to your inbox:

What are your thoughts on this story? Let us know what you think in the comments section below.

via Terence Zimwara

Read More

Gamestar+ Confirms Partnership With Ava Labs and Impending Launch on Avalanche

PRESS RELEASE. Streaming social game platform Gamestar+ has confirmed an official partnership with blockchain developer Ava Labs, commencing the development of the technological framework that will allow Gamestar+ to bring the most iconic and well-known interactive IPs and entertainment brands as family gaming experiences, with powerful web3 and play-and-earn features.

The new partnership, officially announced on 07/15, will see Gamestar+ leverage Ava Lab’s extensive experience in blockchain development. Avalanche blockchain technology will connect players, friends, and families around the world with robust smart contract functionality and high transaction throughput.

To give the community the opportunity to ask questions on the partnership, and anything Gamestar+ – the two respective parties will be holding a Twitter Space on the Avalanche Twitter today at 4:30PM ET.

Gamestar+ Blockchain Technology Launches Game Night Into the Metaverse

Gamestar+ is the world’s first truly interactive social game night streaming platform, offering families and friends the ability to launch their game night experience into the metaverse with classic titles that include Family Feud, Scene It?, and Jeopardy!

Gamestar+ offers players a novel, never-before-seen level of customization, interconnectivity, and interactive social gameplay that allows families to stream classic TV game shows and board games directly into their living room, with blockchain-enabled features that make it possible to earn tokens that can be traded for real cash while playing.

The Gamestar+ games platform will offer a wide range of globally-recognized entertainment brands including Lucasfilm, Disney, Pixar, and Marvel, with unique metaverse features that allow players to use NFTs, blockchain-powered tokens, and cross-platform play to create their own vision of game night.

Gamestar+’s team is backed up by some of the most highly experienced and talented professionals in the streaming content and entertainment industry, with team members that include Warner Bros, Fox, and ex-Sony entertainment industry entrepreneurs and visionaries.

Taking aim directly at the $21 billion global board game market, Gamestar+ fuses traditional family board game night gameplay with next-generation web3 features, delivering interactive experiences via a Netflix-like dashboard with highly customizable player skins, smartphone interconnectivity, and direct peer-to-peer gameplay.

Gamestar+ Gives Players Control Over Their In-Game Value

The newly-confirmed partnership between Ava Labs and Gamestar+ will see the Gamestar+ platform integrate Avalanche blockchain technology in order to deliver blockchain and web3 functionality at scale.

Gamestar+’s blockchain feature set allows players to take control of the value they generate during their play time, allowing families to compete with one another for GBUCKS and GSTAR tokens, a dual-token model that allows users to access exclusive NFTs, player skins, and content – or trade their in-game winnings for other digital assets or fiat currency.

Ava Labs, working with Gamestar+, will integrate Avalanche blockchain technology into the Gamestar+ tech stack in order to deliver seamless, easy-to-use blockchain features that launch family game night from the coffee table and into the metaverse.

“We’re excited to officially confirm our partnership with Ava Labs, establishing a new working relationship that will allow the Gamestar+ platform to introduce blockchain features to our gaming audience. By partnering with Ava Labs, we’re able to offer our players real-world value on top of highly social gaming experiences — with Avalanche, we can connect families from all over the world and set the stage for them to compete with one another for GSTAR tokens and exclusive blockchain-based collectibles.”

Todd Young – Chief Operating Officer at Gamestar+

Ava Labs & Avalanche Blockchain Technology Facilitates Next-Gen Play-and-Earn Gameplay

Ava Labs, founded by Cornell computer scientists, is a highly powerful blockchain platform designed to streamline the launch of decentralized applications on the Avalanche blockchain network.

As a highly secure, scalable, and eco-friendly blockchain network, Avalanche is capable of processing transactions and data at the scale required to support the massive Gamestar+ ecosystem, making it possible to deliver blockchain-enabled game night experiences to millions of players around the world.

First launched in 2020, Avalanche and Ava Labs operate at the vanguard of the blockchain gaming ecosystem. Avalanche leverages a next-generation consensus model that is capable of delivering robust support to the Gamestar+ platform.

“We’re extremely excited to confirm our partnership with Gamestar+ to both the Avalanche and Gamestar+ communities. The Gamestar+ platform is positioned to introduce the benefits of blockchain technology to millions of players around the world and provide the Avalanche gaming community with a new way to experience their favorite family game night classics”

Ed Chang – Head of Gaming at Ava Labs

New Partnership Follows Launch of Live Gamestar+ Platform

The official confirmation of Ava Lab’s partnership with Gamestar+ follows a series of successful funding rounds executed by Gamestar+ that saw VCs including Faculty Capital, Woodstock Ventures, Ava Labs, Signum Capital, United Overseas Bank, and Morningstar Ventures contribute over $5 million to the Gamestar+ ecosystem.

Gamestar+’s ongoing blockchain technology integration and innovation is supported by incubation specialists Faculty Entertainment, who operate as an incubator, advisory, and investor platform for entertainment brands and celebrity ventures within the web3 sector.

Further roadmap milestones scheduled for Gamestar+ include the launch of cross-platform play and smartphone support, the launch of new games, and the integration of marketplace features that allow players to trade, store, and sell both NFTs and GSTAR tokens.

Gamestar+ is already live, with multimedia experiences and interactive family games such as Family Feud ready to play as mixed-reality experiences with physical board games available exclusively from Target.

 

 

 

---

This is a press release. Readers should do their own due diligence before taking any actions related to the promoted company or any of its affiliates or services. Bitcoin.com is not responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods or services mentioned in the press release.

via Bitcoin.com Media

Read More

Biggest Movers: ETC Nears 10-Week High, as TRX Extends Recent Gains

Ethereum classic was approaching a ten-week high on Wednesday, as prices rose by over 14% in today’s session. These gains came as prices rose for a second consecutive day, with tron also extending recent gains during hump day. Overall, the crypto market cap is 1.51% higher as of writing.

Ethereum Classic (ETC)

Ethereum classic (ETC) was a notable mover in today’s session, as the token rose by almost 15% on Wednesday.

Following a low of $23.72 on Tuesday, ETC/USD rallied to an intraday peak of $27.51 earlier in the day.

The move saw ethereum classic near its long-term resistance level of $28, which has been mostly held since May 6.

Last Saturday saw the token briefly breakout of this point, climbing to $28.23, which was the highest level prices have traded since May.

Looking at the chart, the 14-day relative strength index (RSI) is currently tracking at 68.44, which is slightly below a resistance level of 70.

If ETC is to maintain this current run of momentum, price strength will need to move beyond this upcoming ceiling.

Tron (TRX)

In addition to ETC, tron (TRX) was also up for a second straight day, as prices continued to move away from a recent support point.

TRX/USD rallied to an intraday high of $0.06631 in today’s session, which is over 3% higher than yesterday’s low of $0.06383.

Today’s rally comes after TRX bounced from its price floor of $0.06300 during yesterday’s session, as bulls put an end to a five-day losing streak.

As seen from the chart, this rebound comes despite the 10-day moving average (red), crossing over downward against the 25-day MA (blue).

Typically, such a cross signals a downtrend, however sentiment has now seemingly shifted in favor of bulls.

However, this might soon be tested, with relative strength fast approaching a resistance level of 49.85.

Register your email here to get weekly price analysis updates sent to your inbox:

Do you expect tron to fall once the RSI reaches this resistance? Let us know your thoughts in the comments.

via Eliman Dambell

Read More

Biggie Smalls NFT Collection Sells Out in 10 Minutes, Owners Get Licensing Rights to Unreleased Freestyle

On Tuesday, the Christopher Wallace Estate, managers of the Notorious B.I.G.’s music, fashion, film, and unreleased archives, dropped a collection of 3,000 non-fungible tokens (NFTs) that sold out in ten minutes. The digital collectibles were dropped via the NFT platform Oneof, and owners of the new NFTs now have the licensing rights to the audio of a previously unreleased B.I.G. freestyle.

Christopher Wallace Estate Releases ‘Sky’s the Limit’ NFT Collection Dedicated to the Life and Memory of the Notorious B.I.G.

NFT collectors had a chance to acquire Notorious B.I.G. NFTs when the NFT platform Oneof dropped a collection of 3,000 3D digital collectibles dedicated to the American rapper. Christopher Wallace is better known by his stage names Biggie, Biggie Smalls, and the Notorious B.I.G., after releasing his 1994 album via Bad Boy Records called “Ready to Die.”

Biggie was dubbed “the greatest rapper of all time,” according to The Source and Billboard as the 1994 full-length album solidified a quadruple-platinum certification from the RIAA.

The Biggie NFT collection is called “Sky’s the Limit” and it features 3D characters of the Notorious B.I.G. wearing a Kangol hat, different clothes, and sometimes a crown as the 3,000 NFTs are a generative collection.

The NFT “gives each NFT holder the right to collectively license the audio of Biggie Smalls’ most famous freestyle, filmed on a street corner in Brooklyn when he was just 17,” the Oneof marketplace announcement on Tuesday details. “Despite its legendary status, the freestyle has never been officially released or made available for other musicians to sample and use in their own songs. Until now.”

According to a representative of Oneof, the “Sky’s the Limit” NFT collection sold out in ten minutes, and when an individual visits the web portal, the site says the compilation is officially “sold out.”

However, the NFTs are now up for grabs on the Oneof marketplace and users can bid on specific NFTs from the collection. Wayne Barrow, the manager of Voletta Wallace’s and Biggie’s estate, said an NFT collection would please the rapper who passed away in Las Vegas in September 1996.

“Biggie’s music is a very important part of hip-hop culture and its global impact,” Barrow said in a statement sent to Bitcoin.com News. “Our business partner, Elliot Osagie of Willingie Inc, came up with the concept of coming together with OneOf to share the infamous freestyle that showcased to the world the icon that Biggie would soon become through an NFT, and sharing it with his fans in this way we are certain would make him proud.”

The Notorious B.I.G. NFTs follow a number of musician and celebrity-inspired NFT collections from iconic legends that have passed away like Bruce Lee, Muhammad Ali, and Jerry Garcia. Last December, the NFT Makersplace announced the world’s first 2pac NFT collection authorized by the Shakur Estate. All of the aforementioned NFT collections like Notorious B.I.G.’s latest digital collectibles have been endorsed by the families or estates.

What do you think about the Notorious B.I.G.’s NFT collection? Let us know what you think about this subject in the comments section below.

via Jamie Redman

Read More