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Chainlink Exploded 40%, Reaches New All-Time High: Price Analysis

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Chainlink exploded by 40% and entered the top 10 altcoins on almost all charts, as it shattered all perceived resistances while it was climbing. In our Chainlink news today, we find out more about the price analysis.

All eyes are focused on the LINK’s price as Chainlink exploded by 40% during the last 24 hours. The cryptocurrency reached a new all-time high managing to surge over $8.840 on Binance. The price has since retracted but it increased by 30%, trading around $8. As per the recent reports, LINK broke above its previous all-time high on July 6th and then shows no signs of slowing down. The apparent reason for that was the fact that China launched its Blockchain Service Network and had an opening ceremony of the Hangzhou Blockchain International Week.

LINK/USD
LINK/USD. Source: TradingView

According to official statements, the network already established public city nodes in about 100 small towns in China, making it the “world’s largest blockchain infrastructure network” while the country stated that they will integrate Chainlink’s oracle might explain the sudden price boom. Since then, LINK’s price has been in price discovery mode which coupled with the ongoing hype around alternative cryptocurrencies which could explain the recent price surge. LINK managed to enter the top 10 projects and it even reached the tenth position in terms of market cap.

At the same time, the rest of the cryptocurrency market remained stagnant, as we can see in the chart, most of the altcoins are making slight gains and losses in the range between 1% and -1%. Bitcoin’s dominance increased slightly over the past 24 hours but the price remained trapped below $9300. However, as per the latest reports, the prolonged periods of stability usually end with a strong move to either side.

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market overview
Cryptocurrency Market Overview. Source Coin360.com

The amount of trading volume is dropping as well. June ended being the least volatile month of all especially for the price of the number one cryptocurrency compared to October last year. This further explains the lack of volatility on the market. The RSI also saw slight consolidation within the large bearish triangle pattern and it is expected to reach the peak somewhere in the upcoming week. A huge move in Bitcoin’s price could put a damper on the blooming altcoins. In this case, the area between $9300 and $9400 remains in resistance to watch out for. Below the $9000 region, there is a substantial support line forming.

DC Forecasts is a leader in many crypto news categories, striving for the highest journalistic standards and abiding by a strict set of editorial policies. If you are interested to offer your expertise or contribute to our news website, feel free to contact us at [email protected]

Source: https://www.dcforecasts.com/chainlink-news/chainlink-exploded-40-reaches-new-all-time-high-price-analysis/

Blockchain

Avanti Financial Joins Kraken as a Wyoming-Approved Crypto Bank

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Blockchain pioneer Caitlin Long is now the CEO of her own special purpose depository institution (SPDI) in Wyoming. 

Avanti Financial’s banking charter was approved unanimously by the Wyoming State Banking Board on Wednesday, becoming the second newly chartered bank in the state in 2020 after Kraken Financial earned approval last month.

Avanti, like Kraken, now has to jump through a few hoops – like raising more capital – before it can be granted a certificate of authority to operate.

“Kraken definitely captured attention, but now that there’s a second one chartered it’s no longer a one-off situation and a trend is in motion,” Long told CoinDesk in an email.

Along with the charter approval, the banking board approved Avanti’s future issuance of Avit, a programmable electronic currency that’s redeemable at par with a U.S. dollar. The Avit is not a security token, meaning it is not a digital representation of an investment that’s expected to generate returns.

The Avit will be issued initially on Bitcoin sidechain Liquid and then on Ethereum, Long said. 

Source: https://www.coindesk.com/avanti-financial-joins-kraken-as-a-wyoming-approved-crypto-bank

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Blockchain

Kucoin and Revain Announce Partnership

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Before deciding to buy or apply for any service, consumers are primarily interested in doing their homework via the ability review via 3rd Party Objectivity based on what other people are thinking.

This is especially true for the blockchain universe. The success of Bitсoin and Ethereum has given rise to thousands of young projects that are as complex as they are innovative.

In order not to get lost in multiple offers of wallets, exchanges, and cryptocurrencies, Internet users are starting to look for reviews to guide their decision-making process.

The revain.org project began to use blockchain to keep all reviews unchanged. This gives trust to the community and allows users to learn with the ability to interact with both projects that interest them and the communities they represent.

Trust can play an extremely important role for serious companies. The KuCoin and Revain projects have started cooperation for the common benefit of both communities. The Revain Widget implemented on the main page of one of the leading exchanges allows visitors to read and write reviews directly on the platform.

Companies that have already achieved success should understand that the review widget increases a conversion rate and provides additional traffic.

And there are other pluses as well

For example, why would you buy products on a mystery shopping service if you can simply read a ready-made review on the Revain website?

And it will be fair, fast and, most importantly, it’s free.

It’s not a surprise when blockchain technologies are used in the crypto community. But the Revain Project doesn’t intend to stop there and has serious plans to expand the topic on which the writers will write reviews.

It’s important for people that the review includes pros and cons.

This could stem from concerns about fake reviews, and an underlying assumption that balanced reviews feel more authentic than reviews that are overly or exclusively positive.

Consumers want retailers to have better technology, offer more services, and establish better personal connections. Consumers think about what good shopping experience looks like in the first place. Therefore, when people read or write a review, they pay attention not only to the facts but also to the feelings that appeared after the purchase from the company to which the review was then written.

When there are feelings, it is important to preserve a zone of trust and comfort

The usual advertising channels carry information about the product and the brand. But they do not contain the emotions of other buyers. The buyer chooses where he will share his buying experience.

And it is especially important that the credibility of the review that is written on the seller’s website does not reach heaven. It is very important to have an independent platform, the need for which has been ripening for a long time in the Internet community.

Therefore, reviews are written on the Revainplatform. You can display these reviews on your website using a simple widget. Thus, customers will see the independence of the review and at the same time, they can read it without leaving your site.

Of course, there were sites for reviews, they exist now and will continue to appear. But a project like Revain meets the expectations of ordinary people and businesses as much as possible. After all, reviews cannot be deleted or falsified because of blockchain. The hash of each review is kept for centuries.

Because of this, some reviews may seem funny as their authors decided to add some new facts or correct mistakes later. I recommend visiting and reading such reviews. A very interesting experience.

 

Source: Rinat Arslanov has been the Co-Founder and CEO of Revain since its inception. He describes his passion for Revain as a life project for him. He is currently doing his Ph.D. at Plekhanov Russian University of Economics and is expected to complete his doctorate in 2022.

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EOS, Stellar Lumens, Synthetix Price Analysis: 28 October

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Bitcoin Dominance rose to 63 and Bitcoin was trading at $13,676 at press time. The altcoin market was registering some losses for the day, but a pullback on Bitcoin could see the red for other assets in the crypto space in the coming days. EOS exhibited a bearish divergence, and Stellar Lumens appeared to be forming a bearish pattern that was yet unconfirmed. Synthetix closed beneath a bearish triangle and could post losses in the coming days.

EOS

EOS, Stellar Lumens, Synthetix Price Analysis: 28 October

Source: EOS/USDT on TradingView

The bearish divergence (white) showed the price registered higher highs while the bullish momentum waned. The white trendline on the price chart also formed the upper side of an ascending broadening wedge whose base was at $2.62.

This is a pattern that generally breaks out to the downside, and the bearish divergence suggested that a drop in value for EOS might be in store.

A break below $2.62 and $2.59 would take EOS to the next level of support at $2.44.

Stellar Lumens [XLM]

EOS, Stellar Lumens, Synthetix Price Analysis: 28 October

Source: XLM/USD on TradingView

Stellar Lumens appeared to be forming an inverted cup. A break below the rim of the cup, at level $0.079 which is also a support, could see XLM move as low as $0.072.

The Directional Movement Index was also inching toward 20 and moving above would indicate a strong trend. The -DI (pink) showed the bearish nature of the trend.

Synthetix Network [SNX]

EOS, Stellar Lumens, Synthetix Price Analysis: 28 October

Source: SNX/USD on TradingView

Synthetix Network was forming a descending triangle, characterized by successive smaller bounces off the same level of support at $3.48. The OBV was also trending lower in the past weeks.

Recently, the price closed beneath the base of the triangle. Alongside, the OBV also dropped beneath the floor it has maintained above for a month (orange), indicating that buying volume was quickly dwindling as bears took control of the market.

A break beneath support at $3.36 was likely for SNX, with the next region of support at $3.

Source: https://eng.ambcrypto.com/eos-stellar-lumens-synthetix-price-analysis-28-october

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