What is Happening in Crypto?
'Developer' of Tornado Cash’ arrested in Amsterdam, other arrests may follow
Tornado Cash is a virtual currency mixer that runs on the Ethereum (ETH) blockchain and enables anonymous transactions by hiding the counterparties, origin, and destination of the transactions, hence enhancing user privacy. Transactions are mixed by Tornado before being sent to the intended recipients.
According to the Dutch Fiscal Information and Investigation Service (FIOD), a 29-year-old man was detained in Amsterdam on suspicion of "concealing unlawful financial flows" and "facilitating money laundering" using the cryptocurrency mixing platform Tornado Cash.
Crypto markets today:
Price Action
After starting out with a lower price, BTC climbs $24,000.
After declining earlier in the day by $24,000, the price of Bitcoin (BTC) recovered it. According to market capitalization, the biggest cryptocurrency recently traded in a range barely over this limit. Over the last week, Bitcoin increased 3%, maintaining its current strength.
For the second time this week, Ether's (ETH) price surpassed $1,900 thanks to a 0.6% price rise. Investors are anticipating the Ethereum Merge, which will change the protocol from proof-of-work to the quicker, more energy-efficient proof-of-stake model, and the price of ETH has risen by 9% over the last week. while the latter implies a completely inverse relationship.
The Dow Jones Industrial Average (DJIA), S&P 500, and Nasdaq indices all saw gains for the week, closing up 0.61%, 1.12%, and 0.85%, respectively.
About 70% of the companies listed on the Nasdaq, the New York Stock Exchange, closed higher, indicating that the rise was broadly based.
While natural gas prices fell 1.17%, the price of crude oil plummeted 2.6%. A typical safe-haven asset, the price of gold rose by 0.53%.
Technical Take:
Weekly RSI for BTC shows increasing price momentum.
The weekly chart of BTC shows that bitcoin's price is continuing to rise. The price has risen 25% to over $24,000 after falling by 42% between March 28 and June 27, but with some switchbacks.
Beginning on June 13, there was an increase in volume, suggesting that sellers were becoming more eager to sell their BTC positions. Investors should consider if the forced selling was caused by market-wide contagion or by selling pressure based on the perceived worth of bitcoin.
According to this RSI, BTC was at its highest level of oversoldness in over seven years. This pattern was viewed as an opportunity by investors who utilised the chart to build entry and exit positions to add BTC, causing its price to rise this summer.
CRYPTO PRICES:
Uzbekistan takes Action to Block Foreign Crypto Exchanges:
Authorities in Uzbekistan are restricting access to online crypto trading platforms based outside the country and not registered under its laws. Citizens and local businesses must only utilise digital asset exchanges that have been authorised by the Central Asian country's government, according to a presidential regulation.
Uzbekistan’s National Agency of Perspective Projects (NAPP) has registered a spike in activities of online platforms providing crypto-related services to Uzbekistanis without the necessary license.
5 Reported Binance Listings in 2022:
Five intriguing cryptocurrency projects that will shortly be listed on Binance are mentioned below. These initiatives offer positive roadmaps and appealing use cases, both of which are essential for long-term success.
Another freshly launched cryptocurrency called Tamadoge could be listed on Binance in 2022. Using the Tamadoge combat app, players may mint doge NFT pets and rear them till they are adult pets.
Everyone interested can buy TAMA with ETH or USDT, and there is no minimum amount of money required for the purchase. However, the Tamadoge team advised everyone who wants to buy the tokens to make the purchase of a minimum of $150 worth of ETH or USDT.
2. Lucky Block (LBLOCK):
The most anticipated Binance listing on our list is Lucky Block. This project is undoubtedly well-known to many cryptocurrency investors because earlier this year it became the quickest cryptocurrency to ever attain a market valuation of $1 billion.
What is the purpose of Lucky Block, then? In a word, Lucky Block is an NFT competition platform that provides daily, decentralised, fair, and transparent tournaments.
The native token of Lucky Block is called LBLOCK, and it adheres to the BEP-20 standard. It is an essential component of the Lucky Block ecosystem and is employed for a number of different purposes, including distributing prizes. However, because to the tax imposed on sell transactions, the predominant use of LBLOCK has been for practical purposes rather than for speculation.
3. Reserve (RSR):
Reserve is a new initiative that may also be listed on Binance. A stable, decentralised currency that cannot be shut down is being created by Reserve. People will be able to conduct seamless, inexpensive cross-border transactions using this money, which is difficult to do with the current payments system.
The uses for these tokens make Reserve unquestionably one of the most intriguing projects on our list.
Reserve has undeniably emerged as one of the most intriguing projects on our list given the various uses for these tokens.
The ongoing expansion of its community and stablecoin's capacity to keep its peg in the midst of current market turbulence are two major factors supporting RSR.
For instance, the lowest price RSV ever reached was $0.9923 during the height of the volatility in May, when TerraUSD Classic was falling. RSV can thus withstand market fluctuations better than the majority of stablecoins.
4. BlaBlaGame (BLA)
Another prospective upcoming Binance listing that belongs to the cryptocurrency gaming industry is BlaBlaGame. Nearly 35,000 games have been inspired by this initiative, which introduces the well-known "Rock, Paper, Scissors" game to the blockchain. Additionally, BlaBlaGame has a user base of more than 1,500 people, giving it a strong foundation of support from the start.
Users who play BlaBlaGame have the option to wager on the results. Therefore, the native token of BlaBlaGame, BLA, will be given as payment anytime someone wins. Additionally, the SHA-256 method is used to safeguard all games, which helps prevent false results.
Additionally, BlaBlaGame offers an integrated referral programme that rewards customers who recommend friends with a bonus (up to 14%) on their subsequent purchases. Additionally, BlaBlaGame will provide daily and weekly incentives and nd a built-in rating system, allowing players to earn additional prizes.
5. Bet2ken (BTK)
Bet2ken is an online sportsbook with full support for various cryptos. One of the main features differentiating Bet2ken from other sportsbooks is that this platform aggregates odds data from several providers and ensures users always receive the best odds.
An important distinction is that the Bet2ken ecosystem is set up as a DAO, allowing users to vote on various functions. By way of illustration, users who own BTK tokens may vote for their preferred data suppliers and have access to Bet2ken's built-in revenue sharing scheme.