Luna News: What’s Happening in the World of Crypto Today

Stay up to date with the latest happenings in the world of cryptocurrency with Luna News. From Bitcoin to Ethereum, we cover all the latest news and events happening in the crypto world.

Checkout this video:

Bitcoin Price Watch: BTC Stabilizes Above $4,000

Bitcoin Price Watch: BTC Stabilizes Above $4,000
Welcome to our daily trade suggestion. Our BTC analysis today looks at the 4-hour timeframe and the potential for a move back towards the $4,200 level.

The market has been incredibly volatile over the past few weeks, with prices yo-yoing between $3,800 and $4,200. However, it now looks like BTC is stabilizing above the $4,000 level and could be setting itself up for a move higher in the short-term.

The 4-hour chart shows that BTC has formed a bullish ‘Pennant’ pattern, which is traditionally seen as a continuation signal. This suggests that the recent uptrend from $3,800 could resume in the near-term, with a move back towards the $4,200 level.

However, we would need to see a break above the $4,100 level before getting too bullish on BTC in the short-term. Below this level lies key support at $3,950 and $3,900.

Ethereum Classic hard fork on track, ETCDEV team provides update

The upcoming hard fork for Ethereum Classic (ETC) is on track, according to an update from the ETCDEV team. The fork, which is scheduled for September, will enable the team to implement new features and improve scalability.

In a blog post, the team said that progress has been made on a number of fronts, including the implementation of Elliptic Curve Digital Signature Algorithm (ECDSA) signatures, which will improve security. The team is also working on adding support for zk-SNARKs, which will enable privacy-centric applications to be built on top of Ethereum Classic.

The team said that it is also making progress on implementing sharding, which will improve scalability. Sharding involves splitting the Ethereum Classic blockchain into multiple smaller chains, each of which can process transactions in parallel. This will allow the network to scale to accommodate more users and transactions.

The hard fork is scheduled to take place on September 5th.

New stablecoin from Circle to be backed by USD

Circle, the company behind the popular cryptocurrency exchange Poloniex, has announced plans to launch a new stablecoin. The coin, called USD//Coin (USDC), will be pegged to the US Dollar and will be backed by actual USD reserves.

The move comes as part of a larger trend of companies launching crypto-assets that are pegged to traditional fiat currencies. Stablecoins offer a way to reduce volatility in the crypto markets and make it easier for users to hold and use digital assets without having to worry about fluctuations in value.

So far, most stablecoins have been backed by cryptocurrencies like Ethereum or Bitcoin. However, Circle’s USDC will be different in that it will be backed by actual USD reserves. This should give it more stability than other coins and could make it more attractive to users looking for a way to hold and use digital dollars.

Circle plans to launch USDC sometime in the next few months. The coin will be available on Poloniex and other exchanges that support ERC20 tokens.

Binance to launch new cryptocurrency exchange in Singapore

Binance, one of the world’s largest cryptocurrency exchanges, is set to launch a new trading platform in Singapore. The new exchange will be operated by a subsidiary of Binance and will offer a variety of digital assets for trading.

This is good news for cryptocurrency investors in Singapore, as it will provide them with another option for trading digital assets. It is also likely to boost the adoption and use of cryptocurrencies in the country.

Huobi Global launches cryptocurrency exchange in Australia

Huobi Global, one of the world’s largest cryptocurrency exchanges, has launched a digital asset exchange in Australia.

The exchange offers trading in a wide range of digital assets including Bitcoin (BTC), Ethereum (ETH), Litecoin (LTC), Bitcoin Cash (BCH) and more.

This move by Huobi Global follows a similar launch in South Korea earlier this year, and underscores the company’s aggressive expansion plans in Asia-Pacific.

With this launch, Huobi Global is now present in over 130 countries and regions around the world.

Scroll to Top