CryptoAddicted

⚡️Amazon has unveiled Chia cryptocurrency mining solution on its Amazon Web Services (AWS) cloud computing platform.

The new chairman of the US Securities and Exchange Commission (SEC), Gary Gensler, has asked Congress to develop a legal framework to regulate the cryptocurrency industry. “This near $2 trillion market, the crypto asset market, has the potential to be positively impacted by increased investor protection,” Gensler said. - I really believe that together with Congress, I believe that only Congress can actually solve this problem. It is worth considering bringing stronger investor protection to cryptocurrency exchanges. Currently, the exchanges that trade these cryptoassets are not regulated by either the SEC or our sister agency, the Commodity Futures Trading Commission (CFTC). This would increase confidence. Now there is no market regulator that would deal with these exchanges. Accordingly, there is no real protection against fraud or manipulation."

The choice is yours! (Original: https://instagram.com/binance?igshid=1wpg9rei0kx0p)

SafeMoon Surpasses Bitcoin as CoinMarketCap's Most Watched Cryptocurrency SafeMoon continues pushing forward in the crypto world by overtaking Bitcoin on CoinMarketCap as the number one watched coin. On top of working on a dedicated wallet, SafeMoon recently finished its CertiK audit and is now listed on seven exchanges including MXC and ZBG. As of today, SafeMoon has over 1.3 million watchers on CoinMarketCap versus Bitcoin’s 1.2 million — which is quite impressive given the DeFi Token’s age. As one of the fastest-growing alts, SafeMoon has been trading sideways for weeks since its drop after a massive spike, and the last 24 hours saw some of that star power return as it lifted off some 50 percent creating a bullish frenzy for its 1.6 million holders. Do you hold SafeMoon?

Bitcoin devours more electricity than many countries The University of Cambridge maintains an online tool that estimates the level of electricity the crypto-currency network uses and compares it with other entities. It estimates that Bitcoin uses 143 terawatt-hours (TWh) of electricity per year, more than many countries and around 0.65 percent of worldwide electricity consumption. A comparison by Visual Capitalist also shows that it also consumes far more power than the world's largest technology companies. Norway consumes an estimated 124 TWh of electricity while Switzerland consumes 56 TWh annually by comparison. In fact, if Bitcoin was a country, it would be the 27th most energy-demanding nation on earth. All of that thirst for electricity comes from the computing power needed for mining, Some Bitcoin miners have even relocated to places like Iceland to reduce costs as geothermal energy is abundant there while cold Arctic air helps with cooling.

Do you relate?

UFC To Launch Fan Token $UFC UFC Partners With Chiliz In releasing the $UFC token, the league partnered with sport and entertainment blockchain specialists, Chiliz. Chiliz leverages partnered platform Socios to allow fans to buy branded fan tokens from major sports teams. To date, Chiliz has partnered primarily with major European soccer clubs, including FC Barcelona, Juventus, and Paris Saint-Germain, among others. The firm has also stated that Formula One and esports teams have expressed interest in working with them. The company currently utilizes an on platform currency, $CHZ. The UFC will launch their token with Chiliz on the Socios platform, and will offer a supply of twenty million tokens. The NHL’s New Jersey Devils also joined the Socios platform as the first North American sports team to do so. Should we invest in Chiliz?

Ripple's XRP Sales Grew 97 Percent in Q1 Distributed ledger tech provider Ripple increased its XRP sales by 97 percent in the first quarter of 2021, according to its recently published quarterly report. The San Francisco-based company sold a total of $150.34 million worth of XRP in Q1. It attributes the increase to "deeper engagement" with customers who use its XRP-powered On-Demand Liquidity (ODL) product for cross-border payments: “Ripple continued to engage in sales to support ODL and key infrastructure partners as part of providing increased XRP liquidity to improve the ODL experience of certain customers, eliminating the need for pre-funding and enabling instant global payments.”

The all-time high at $ 1.7 was updated by the Cardano cryptocurrency (ADA). Over the past day, the asset has risen in price by 25%. To date, ADA is trading at $1.6. Do you invest in Cardano?

❗️The IRS has secured the release of user data on the Kraken exchange. A federal court allowed the IRS to send requests to the Kraken cryptocurrency exchange for the release of its customers' data. The agency is interested in users whose amount of transactions on the platform for the period from 2016 to 2020 exceeds $20,000. The measure is aimed at identifying taxpayers "who could not comply with internal tax laws." At the same time, Kraken itself is not accused of any offenses, the Ministry of Justice notes in a press release. Thoughts?

❗️Reddit users lost more than $2 million in a crypto-fraudulent scheme. Members of the WallStreetBets trading forum on Reddit have been victims of an alleged cryptocurrency scam. The damage amounted to at least $ 2 million, according to Bloomberg. Investors were attracted using the Telegram messenger, where through the account "WallStreetBets - Crypto Pumps" an offer was distributed to buy a new WSB Finance token before listing it on exchanges during a "premine sale". In reality, the account had nothing to do with the actual Reddit forum

Cardano (ADA) looks set to go on a bull run in the immediate future, following several days of indecision among traders which saw its price trade range-bound and consolidate under key levels. Currently, ADA/USD is trading around $1.45. Several promising fundamental developments are supporting the bullish bias in this cryptocurrency. Last week, IOHK – the firm behind the development of the Cardano blockchain network, reached an agreement with the Ethiopian government to launch the country’s biggest blockchain project so far, creating an identification system for students and teachers on the Cardano network. On the technical front, analysis of 4 hour chart reveals a strong uptrend forming over the past several weeks. The MACD and Momentum indicators point to a bullish bias in Cardano, with the next resistance level sitting at $1.60. A break above this level can strengthen the bullish momentum further but if buyers are unable to break past this level, ADA’s price can drop down to $1.29 and possibly even lower

Uniswap v3 Became a ‘Uniflop’ on Opening Day • Uniswap v3 fails to impress on its first day. • User interface is too complex for most. • Gas fees are higher than v2 according to trader reports. (More: https://beincrypto.com/uniswap-v3-became-uniflop-opening-day/)

Ethereum (ETH) 📊 Ethereum, the crypto-market’s most dominant altcoin, has often been the crypto to lead the altseason. This was the case of late too, with ETH’s surge up the charts in late April allowing other alts to hike too. ETH was in the news recently after it hit yet another ATH, with the alt climbing above $3,000 and later, $3,500. Over the past few trading sessions, however, some sideways movement was seen as the market lost momentum. While MACD line was closely intertwined with the Signal line following a bearish crossover, Bollinger Bands remained open and underlined the likelihood of near-term price volatility.

Dogecoin (DOGE) 📊 The crypto-market’s premier meme coin, Dogecoin has been one of 2021’s best performers, with the altcoin recording YTD returns of 11,455% at press time. In fact, such has been the scale of its growth that DOGE is now among the industry’s top-5, with the alt enjoying a market cap of over $89 billion. In the last 36 hours alone, the meme coin has hiked by almost 60% on the charts. According to many, DOGE is likely to keep surging over the week, especially since Elon Musk is expected to talk about the crypto on an upcoming episode of Saturday Night Live. Market indicators were incredibly bullish for DOGE as Chaikin Money Flow was hovering around 0.20, and Awesome Oscillator registered a sharp uptick in market momentum.

Xrp (XRP) 📊 XRP has had a topsy-turvy 2021, with the altcoin doing well to recover its price levels on the back of the SEC charging Ripple with illegal securities offerings. Back in April in fact, the crypto climbed to a 3-year high, upsetting many who expected the crypto to drop towards zero following the aforementioned lawsuit Of late, however, XRP’s market momentum has stuttered somewhat, with the month of May seeing a lot of sideways movement before corrections set in. In a 26-hour window, for instance, the altcoin lost over 15% of its value, with XRP well away from recuperating its losses. The altcoin’s technical indicators flashed ambivalent signals. While Parabolic SAR’s dotted markers were prepping for a trend reversal after the latest price appreciation, Relative Strength Index was heading north of the zone of equilibrium When Ripple CEO Garlinghouse was recently asked how the said lawsuit is going, he commented “So far, I feel good about how that’s been going, but it’s certainly frustrating”

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VeChain (VET) 📊 *PART 3* Since April 26, the consolidation has been occurring along the 61.8% Fibonacci retracement of the April decline at $0.209 and above the ascending channel. The initial objective is to release from the tightening consolidation with a volume thrust, followed by a probe of the all-time high at $0.282. A successful breakout for VeChain price will test resistance at the 361.8% extension of the August-November correction in 2020 at $0.309, representing a 50% gain from the price at the time of writing. The aggressive objective for Vechain price is to overtake the cup-with-handle measured move target at $0.377, presenting a 86% gain from the price at the time of writing. For the bullish thesis to be invalidated, VeChain price will need to close below the April low of $0.128. Before that can happen, VET will have to wrestle with solid support framed by the 10-week simple moving average (SMA) at $0.138 and the channel mid-line at $0.129.

VeChain (VET) 📊 *PART 2* For 18 months, from July 2018 to January 2021, VeChain price sketched out a cup-with-handle base that yielded a tremendous gain of 1,100% from the breakout of the handle at the beginning of January. The rally included the historic 7-week gain of 539% from the beginning of March until April 17. And, the advance culminated with the largest weekly gain since VET began trading, at 82%. A gain of 1,100% merits some time to consolidate and release the accumulated price compression. VeChain price has spent the last three weeks consolidating the historic gain of 2021 with three consecutive inside weeks, just above the long-standing ascending channel that began in December 2020.