Bitcoin continues to be uncertain at the $38,000 level and has slipped below it in the past few hours. Most altcoins are also slightly in the red today, with ETH close to breaking below $2,000 and SOL dipping beneath $60. BTC Under $38K Last Friday saw bitcoin’s surge that drove the asset to an 18-month peak at $38,500. However, the cryptocurrency failed to maintain its momentum and dropped to under $38,000 almost immediately. The weekend saw very few noteworthy movements, with BTC standing in a range between $37,000 and $37,500. Monday and Tuesday, though, brought more pain for the bulls as the asset fell to a multi-day low of $36,700. Nevertheless, they managed to regain control over the market and pushed BTC north on Wednesday. This culminated in a price surge to $38,400, but bitcoin couldn’t keep heading north and chart a new year and a half peak. Just the opposite, the asset has lost some traction since then and now trades under $38,000. Its market capitalization has retraced to under $740 billion, while its dominance over the altcoins remains strong at 52%. BTCUSD. Source: TradingView IOTA Defies Market Sentiment Most larger-cap alts registered impressive price gains yesterday, but the landscape today has changed. Ethereum is down by 2% and is close to breaking below $2,000 after nearing $2,100 yesterday. Binance Coin, Ripple, Tron, Toncoin, Avalanche, and MATIC have declined by similar percentages. Solana, Cardano, and Polkadot are down by more than 3%. This means that SOL is currently under $60, ADA is way below $0.4, and DOT is just inches above $5. Dogecoin is the only top 10 alt in the green. LEO, RUNE, UNJ, and MNT are with gains from the mid-cap alts. IOTA, though, has emerged as the top performer from the top 100 digital assets, having soared by over 30% in a day. The total crypto market cap has lost some steam and sits at $1.420 trillion on CMC. Cryptocurrency Market Overview. Source: Quantify Crypto The post Bitcoin Dips Below $38K, IOTA Explodes 33% Daily (Market Watch) appeared first on CryptoPotato.

Bitcoin (BTC) is trying to sustain above the overhead resistance of $38,000 for the second consecutive day and start the next leg of the uptrend. The excitement among market observers may have increased after the United States Securities and Exchange Commission (SEC) delayed its decision on the applications of Franklin Templeton and Hashdex exchange-traded funds. Bloomberg ETF analyst James Seyffart speculated in a X (formerly Twitter) post that the SEC may have taken this step “to line every applicant up for potential approval by the Jan. 10, 2024 deadline.” While many analysts believe that the ETF listing will be a watershed moment for Bitcoin, Genesis Trading head of derivatives Joshua Lim cautioned in a X post that traditional finance investors have already bought the rumor and may exit the trade close to the ETF announcement when retail tries to get in. Daily cryptocurrency market performance. Source: Coin360 However, the macroeconomic conditions in early 2024 may limit the downside. Pershing Square Capital Management CEO and founder Bill Ackman said in an interview with Bloomberg that the U.S. Federal Reserve will cut rates sooner than people expect. He anticipates rate cuts to start in Q1 instead of the market expectations of the middle of the year. Could Bitcoin and altcoins witness a shallow correction before resuming their uptrend? Let’s analyze the charts of the top 10 cryptocurrencies to find out. Bitcoin price analysis Bitcoin again rose above the $37,980 resistance on Nov. 28, but the bulls could not achieve a close above it. This shows that the bears are fiercely defending the level. BTC/USDT daily chart. Source: TradingView The repeated retest of a resistance level tends to weaken it. If bulls sustain the price above the 20-day exponential moving average ($36,820), the possibility of a rally to $40,000 improves. This level may act as a significant hurdle. If bears want to prevent the up-move, they will have to quickly pull the price below the 20-day EMA and the uptrend line. That could start a decline to the solid support at 34,800. A strong bounce off this level may keep the BTC/USDT pair inside the large range between $34,800 and $38,000 for a while longer. Ether price analysis Ether (ETH) again found support at the 20-day EMA ($2,006) on Nov. 27 and 28, indicating that the bulls view the dips as a buying opportunity. ETH/USDT daily chart. Source: TradingView The bulls are expected to face stiff resistance in the zone between $2,137 and $2,200, but if buyers do not give up much ground, it will increase the possibility of a rally above $2,200. If that happens, the ETH/USDT pair will complete a large ascending triangle pattern. That could start a new uptrend, with a pattern target of $3,400. Instead, if the price turns down and breaks below the 20-day EMA, it will signal that the bears are trying to get back in the game. The pair may then slump to the 50-day SMA ($1,853). BNB price analysis The bears tried to yank BNB (BNB) below the $223 support on Nov. 27, but the bulls did not relent. This suggests demand at lower levels. BNB/USDT daily chart. Source: TradingView The bulls will have to force the price above the 20-day EMA ($235) to start a meaningful recovery. The BNB/USDT pair could then attempt a rally to $265, where the bears may again offer a stiff resistance. If the price again turns down from the 20-day EMA, it will suggest that the bears are trying to flip the level into resistance. That will enhance the prospects of a fall below $223. If this level gives way, the pair may collapse to $203. XRP price analysis XRP (XRP) has been stuck between the moving averages for the past few days, indicating indecision among the bulls and the bears. XRP/USDT daily chart. Source: TradingView The slightly downsloping 20-day EMA ($0.61) and the RSI near the midpoint do not indicate an advantage either to the bulls or the bears. If buyers kick the price above the 20-day EMA, the XRP/USDT pair may rise to $0.67. Instead, if the price turns down sharply from the 20-day EMA and skids below the 50-day SMA ($0.58), it will signal that bears are trying to seize control. The selling could accelerate further if the pair plunges below $0.56. Solana price analysis Solana (SOL) snapped back from the 20-day EMA ($54.71) on Nov. 28, indicating that the sentiment remains positive. SOL/USDT daily chart. Source: TradingView The bulls will try to push the price above the immediate resistance at $62.10. If they succeed, the SOL/USDT pair could climb to the local high at $68. The bulls will have to overcome this obstacle to invalidate the head-and-shoulders pattern. The failure of a bearish pattern is a bullish sign. That may start a sharp rally in the pair to $85. The $51 level remains the key support on the downside. A break and close below this level could start a deeper correction toward the 50-day SMA ($42.25). Cardano price analysis Cardano (ADA) slid to the 20-day EMA ($0.38) on Nov. 27, but the bulls held their ground. This suggests that lower levels are being aggressively bought. ADA/USDT daily chart. Source: TradingView The higher lows of the past few days improves the prospects of an upside breakout. If the bulls shove the price above $0.40, the ADA/USDT pair could pick up momentum and climb to $0.42 and later to $0.46. Time is running out for the bears. If they want to make a comeback, they will have to tug the price below the 20-day EMA. That may hit stops of short-term traders and the pair may fall to the solid support at $0.34. Dogecoin price analysis Dogecoin (DOGE) has been repeatedly taking support at the 20-day EMA ($0.08), indicating that lower levels are being purchased. DOGE/USDT daily chart. Source: TradingView The upsloping moving averages and the RSI in the positive territory indicate that the path of least resistance is to the upside. Buyers will try to propel the price to $0.09 and next to $0.10, where they are likely to encounter selling by the bears. On the downside, the 20-day EMA remains the key level to watch out for. If this level crumbles, the DOGE/USDT pair may drop to the 50-day SMA ($0.07) and subsequently to the crucial support at $0.06. Toncoin price analysis Toncoin (TON) has been trading above the 20-day EMA ($2.37) for the past few days, but the bulls are struggling to push the price to $2.59. This suggests that demand dries up at higher levels. TON/USDT daily chart. Source: TradingView The bears will try to gain the upper hand by yanking the price below the moving averages. If they manage to do that, the TON/USDT pair could decline to the psychological level of $2 and then to $1.89. On the upside, the first hurdle is at $2.59. If buyers surmount this resistance, the pair could rally to $2.77. Sellers may offer stiff opposition in the zone between $2.77 and $2.90, but if bulls do not allow the price to dip below $2.59, a new uptrend to $4.03 could begin. Chainlink price analysis Chainlink (LINK) again found support at the 20-day EMA ($14.07) on Nov. 28, indicating that the bulls are vigorously guarding this level. LINK/USDT daily chart. Source: TradingView The LINK/USDT pair is likely to face selling at the $15.40 mark as the bears have successfully held this resistance during three previous attempts. If the price turns down from $15.40, it will increase the likelihood of a drop to $12.83. On the contrary, if bulls drive the price above $15.40, the pair may challenge the local high at $16.60. The up-move could resume, and the pair may reach $18.30 if this level is surpassed. Avalanche price analysis Avalanche (AVAX) rebounded off the 20-day EMA ($19.35) on Nov. 28, indicating that the sentiment remains positive and traders are buying on dips. AVAX/USDT daily chart. Source: TradingView The bulls will have to overcome the resistance at $22 to strengthen their position. The AVAX/USDT pair may then rise to $24.69. Sellers are likely to mount a strong defense at this level because if this resistance is taken out, the pair could travel to $28.50 as there is no major resistance in between. Contrary to this assumption, if the price turns down from $22, it will suggest that bears remain active at higher levels. The advantage will tilt in favor of the bears if they sink the pair below $18.90. This article does not contain investment advice or recommendations. Every investment and trading move involves risk, and readers should conduct their own research when making a decision.

Animoca Brands and TON Announce Strategic Partnership to Bring Web3 Gaming to Telegram. 🎮🤝 Animoca Brands becomes the largest validator on the TON blockchain, marking a strategic collaboration with the TON Foundation. The partnership aims to integrate Web3 gaming into Telegram, a platform with over 800 million users. TON Play Integration: Animoca Brands leverages TON's infrastructure within Telegram to bring Web3 gaming to a new audience. TON Play, the focal point of the partnership, enables developers to seamlessly port existing games to the Telegram app. Extensive Gaming Portfolio: Animoca Brands' position as the largest validator means Telegram users can access a variety of gaming experiences. Over 400 Web3 projects from Animoca Brands will be available on TON Play. Investments and Governance: Animoca Brands' significant investment in TON signals confidence in the future of TON Blockchain. As a major validator, Animoca Brands gains influence in the governance of TON. Research and Analytics: Animoca Brands contributes to TON's development with two research papers focusing on scalability and user-friendliness of decentralized applications (dApps). An analytics dashboard tracks TON Blockchain's growth metrics, providing transparency and insights. #Toncoin #TON #AnimocaBrands #gaming #web3gaming

In a significant move within the cryptocurrency and blockchain industry, Animoca Brands, a Hong Kong-based gaming venture capitalist, has recently made a strategic investment in the TON (The Open Network) ecosystem. This investment has established Animoca Brands as the largest validator of the TON blockchain, a position that underscores its commitment to advancing the application of blockchain technology in the gaming sector and beyond. Animoca Brands’ foray into the TON ecosystem comes after extensive research and analysis of its potential. The firm has released two detailed study reports focusing on the scalability and user-friendliness of TON’s applications, which are seen as vital for the growth of the blockchain community. Additionally, Animoca Brands has developed an analytics dashboard to visualize key metrics, aiding in the evaluation of TON’s growth and the scaling of third-party gaming and GameFi projects within its ecosystem. This investment is expected to bolster TON with funding, research capabilities, and a sophisticated analytics platform, enhancing the development and expansion of third-party applications in the TON ecosystem. Fostering Web3 adoption and blockchain gaming The investment by Animoca Brands in TON is not just a financial commitment but a strategic one, aimed at facilitating the transition of users from Web2 to Web3. The TON blockchain, backed by Animoca Brands, is poised to make significant strides in onboarding approximately 800 million active Telegram users into the Web3 space. Yat Siu, co-founder and executive chairman of Animoca Brands, emphasized this vision, stating that the strategic investment in TON is a crucial part of their broader objective to introduce the next million users to Web3 technologies. The collaboration between TON and Animoca Brands is expected to create seamless experiences for users transitioning from traditional web platforms to more advanced, decentralized web applications. The investment, part of which was made directly into Toncoin, aligns with Animoca Brands’ role as a validator in the TON ecosystem, further cementing its commitment to the growth and success of the network. Empowering next-generation gaming on Telegram A key aspect of Animoca Brands’ strategy involves leveraging TON Play, a gaming infrastructure based on the TON blockchain that enables the launch of projects directly onto Telegram. This initiative aims to port some of Animoca Brands’ 400 Web3 projects directly into Telegram through a web app. Game developers will also benefit from this, as they will be able to deliver new and exciting projects via the Telegram Web App and @playdeckbot. Justin Hyun, the Director of Growth at TON Foundation, expressed optimism about the partnership with Animoca Brands, highlighting its potential to revolutionize blockchain gaming and boost GameFi adoption. Hyun noted that this collaboration would seamlessly integrate Web3 into the daily experiences of Telegram users, particularly in the gaming domain, reaching a global audience. The strategic investment by Animoca Brands in TON signifies a major leap towards mainstream adoption of blockchain gaming. The company’s involvement as the largest validator and its commitment to the TON ecosystem underscore its role as a driving force in the world of Web3 and blockchain technologies. In conclusion, Animoca Brands’ investment in TON represents a pivotal moment in the blockchain and gaming industries. By becoming the largest validator of the TON blockchain and supporting initiatives like TON Play, Animoca Brands is setting the stage for a more interconnected and accessible Web3 experience. This move not only demonstrates the firm’s belief in the potential of the TON ecosystem but also its dedication to fostering the growth of blockchain gaming and the seamless transition of users from Web2 to Web3. As the partnership between Animoca Brands and TON evolves, it will be interesting to observe the impact of this collaboration on the future of blockchain technology and digital gaming. The post Animoca Brands invests in TON ecosystem, becoming largest validator first appeared on Coinfea.

The amount of Animoca’s investment was kept under wraps.  The company’s long-term strategy includes backing the TON Play initiative. With the goal of bringing blockchain-based games to the 800 million users of the messaging app Telegram, Web3 investment company Animoca Brands becomes the biggest validator on The Open Network (TON) blockchain. We’re pleased to announce that we have officially become the largest validator of @ton_blockchain. As projects look to scale, we will assist with the growth of various #gaming and #GameFi projects on TON.Full details: https://t.co/VwXRPIZ8Gy pic.twitter.com/fJF6a85KEu — Animoca Brands (@animocabrands) November 28, 2023 The collaboration includes research, investment, and an analytics platform for third-party TON ecosystem apps. However, the amount of Animoca’s investment was kept under wraps. Nevertheless, it is believed that a portion of the investment was staked in Toncoin, as per the validator agreement. Banking on GameFi Moreover, market study on TON’s larger ecosystem has been carried out by Animoca, with an emphasis on the platform’s capacity to promote the use of cryptocurrencies and GameFi. The company’s long-term strategy includes backing the TON Play initiative, which is building a gaming infrastructure on the TON blockchain. Also, the framework enables the development of gaming apps on TON, to be launched on Telegram, and the transfer of existing games from the web to the messaging application. Developers will be able to reach 800 million people using Telegram via Ton Play’s web app and the mobile app’s PlayDeck bot, which lets users peruse a library of mobile games. Animoca is looking at the possibilities of bringing some of its games and apps to Telegram from its library of more than 400 Web3 projects. The TON Analytics Dashboard, built by Animoca Brands Research, compiles data from the TON open internet ecosystem, which includes the TON Blockchain, TON DNS, TON Storage, and TON Sites, among others. Furthermore, Animoca Digital Research will also release two studies that investigate how TON Blockchain may hasten crypto’s mainstream acceptance. Highlighted Crypto News Today: What is Mark Cuban’s Take On ZK Technology and NFTs in Real Estate?

Coinspeaker Animoca Brands Invests in TON Ecosystem Hong Kong-based gaming venture capitalist Animoca Brands has announced its strategic investment in the TON ecosystem. Following the investment, Animoca became the largest validator of The Open Network (TON) blockchain. According to emerging reports, the venture capital firm has previously researched the TON ecosystem extensively. Thereafter, it published two study reports detailing the potential of the TON blockchain. The reports highlighted the scalability of TON and its user-friendly apps as critical elements for the community’s growth. Again, Animoca Brands developed an analytics dashboard to help visualize relevant metrics suggesting TON’s growth. These have all helped in the growth and scaling of third-party gaming and GameFi projects within TON’s ecosystem. Following the recent investment, TON will enjoy funding, research, and an analytics platform for third-party TON ecosystem applications. TON Ecosystem Can Help Onboard Web2 Users The latest investment into the TON ecosystem will also help Telegram users transit seamlessly from web2 to web3, according to co-founder and executive chairman of Animoca Brands, Yat Siu. With about 800 million active users on Telegram, the growth potential is enormous. Clearly, the strategic partnership will help more individuals transition from web2 to web3. “This strategic investment in TON is a key part of our broader commitment to help onboard the next million Web3 users,” Siu explained. While the value of Animoca’s investment is not public, part of the investment was made directly into Toncoin. It was also staked as part of the validator agreement. Taking Blockchain Gaming Mainstream According to the Director of Growth at TON Foundation, Justin Hyun, Animoca Brands’ investment will help power the next generation of blockchain games. Thus, the investment will also boost GameFi adoption. “Together, we will infuse Web3 seamlessly into the daily experiences of Telegram users, particularly in gaming, for a global audience to enjoy,” Hyun noted. Animoca will leverage TON Play, a TON-based gaming infrastructure that allows projects to launch directly onto Telegram. TON Play will allow Animoca to port some of its 400 Web3 projects directly into Telegram via a web app. Again, game developers will be able to deliver new and exciting projects via the Telegram Web App and @playdeckbot. “We’re looking forward to working with the other innovative teams building exciting TON-based games,” Siu said. next Animoca Brands Invests in TON Ecosystem