Some traders assume Bitcoin is likely to return to the $30,000 level. Crypto news highlights from Shiba Inu, Nakamoto Games, Tezos and Livepeer.
The price of Bitcoin dropped to a three month low on January 7th. According to data from TradingView, BTC /USD hit its lowest level since September, reaching the $40,938 level on the Bitstamp exchange.
The pair later rebounded to $42,000, but then fell below December’s low.
Traders are also discussing Bitcoin’s next price move, with many suggesting that the price move may be down.
Trader Crypto Ed warns Bitcoin could fall to a much lower price, possibly even below the $30,000 mark.
#BTC Filling the EW puzzle.
Imo not there yet.
The potential jump area was lowered yesterday due to the weak rebound.
Could even fall below the September lows with a liquidation wick….
If we break through September lows and a weak rebound, then picture 2 is the risk. pic.twitter.com/FklxPhPelN
– Crypto_Ed_NL (@Crypto_Ed_NL) January 7, 2022
Currently, Bitcoin is also generating several negative signals on the daily time frame as the bear channel is situated below the neckline of the head and shoulders pattern.
News on events in Kazakhstan, which accounts for 18% of Bitcoin’s hashrate, could be one of the reasons for the price decline.
After the nationwide mass network outage this week, BTC hashrate estimates showed a sudden drop of around 20 exahashes / second (EH / s) from the previous ATH level of 192 EH / s.
Shiba Inu news
As the correction of the crypto market accelerates and the large cap names lose more than 20% of their value, smaller altcoins like Shiba Inu attract more traders.
In addition to retail investors, Shiba Inu has attracted more whales, as the number of active addresses increased 88% according to the whale tracking website WhaleStats.
The number of active addresses on the Shiba Inu network increased by 88% | Source: WhaleStats
In addition, according to the price movement of the token in the market, increased activity could result from increased sales activity. According to data from TradingView, Shiba Inu has lost about 15% of its value in the past four days.
The increased sales activity is linked to a general correction in the crypto market as Bitcoin collapsed unexpectedly and many traders decided to leave the market and switch to storing assets using stablecoins.
Nakamoto Games news
Nakamoto Games (NAKA) has announced the start of game releases in the Nakamoto Games ecosystem. NAKA Galactic, NAKA Blaster and NAKA Heist will be released next week.
NAKA Galactic and NAKA Blaster will be the first multiplayer game releases in the rapidly growing play-to-earn gaming ecosystem. In addition, NAKA Heist will also be included in the start plan.
Nakamoto Games releases its first multi-level and multiplayer mode # play2earn #games. The closed processes of $ NAKA Galactic and $ NAKA Blaster suggest they’ll be a huge one #Success under ours #User. Both #games will be released in the next seven days. https://t.co/QIZtjmyNDm
– Nakamoto.Games (@NakamotoGames) January 4, 2022
Reddit’s favorite stock, GameStop Corporation (GME), shot more than 25% higher after the Wall Street Journal published a report on the creation of its NFT division.
The US game store giant has been quietly working on the NFT market since May and really stepped on the gas in October recruitment Software engineer and product marketer with Web3 and NFT experience.
Follow report GameStop hired more than 20 people on Thursday to lead a newly formed NFT division, according to the Wall Street Journal.
An anonymous source said GameStop is building an NFT platform that will enable the buying, selling and trading of NFT games, along with building important partnerships in the crypto space.
Team Vitality, a leading European esports organization, has announced an important partnership with Tezos (XTZ).
New year, new beginnings.
– Team vitality (@TeamVitality) January 6, 2022
The Tezos ecosystem will help Team Vitality to educate their fan base about the benefits of blockchain technology as part of the gaming experience while also promoting the advancement of technology as a whole. Esports fans are typically part of the tech-savvy community. Therefore, this is a good market for Tezos to explore.
This is not the first crypto partnership for the French esport team. In June they announced their $VIT Fan Token would be launched utilizing the Chiliz blockchain. UK esports team Endpoint CeX is the most recent esports team to mint their team Fan Token on Chiliz.
Team Vitality and its athletes compete in eight different games and have more than 13 million followers on social media platforms. Therefore, Tezos can bring many interesting things to the table by working with Team Vitality.
Livepeer, a decentralized video streaming platform based on the Ethereum blockchain, has mobilize $20 million in a Series B funding round.
Alan Howard and Tiger Global participated in this investment infusion along with existing investors such as Digital Currency Group, Northzone and Warburg Serres.
The Series B expansion round comes just five months after Livepeer raised $20 million for Series B, bringing Livepeer up to a total of $ 51 million.
Livepeer plans to expand its market share with the additional funds. Petkanics, the co-founder of the project, says they are working on a large-scale update called Confluence that is slated to ship later this year. It will bring Livepeer’s internal protocol from the base layer, Ethereum-based, to Layer 2 on the Arbitrum network will port. This means that the Livepeer token (LPT) and the central security mechanism will remain anchored in Ethereum.
Disclaimer: The information provided on this page does not constitute investment advice, financial advice, trading advice, or any other sort of advice and it should not be treated as such. This content is the opinion of a third party and this site does not recommend that any specific cryptocurrency should be bought, sold, or held, or that any crypto investment should be made. The Crypto market is high-risk, with high-risk and unproven projects. Readers should do their own research and consult a professional financial advisor before making any investment decisions.