GB Market Commentary 17/09/2021
by Frederick Williams
Bitcoin price gained pace after it cleared the $47,000 resistance level. BTC even surpassed the $48,000resistance zone and the 100 hourly simple moving average. However, the bears were active near the $48,500 zone. The price traded as high as $48,481 before there was a downside correction. There was a break below the $48,000 and $47,800 levels. Bitcoin found support near the $47,200 level and there was no downside continuation. As a result, there was a fresh increase above the $47,500 level. In the last 24 hours SHIBA INU is up 30%, Audius is up 25% and ATOM is up 8%.
According to data shared by crypto analytics provider IntoTheBlock, $1.2 billion worth ETH was withdrawn from centralized exchanges on Sept. 16 to mark a new record in short-term outflows from exchanges.
The AVAX token has reached a new all-time high after the Avalanche blockchain raised a $230 million investment round led by crypto funds Polychain and Three Arrows Capital. The asset is up by 650% in less than two months.
PayPal has announced that all of its eligible customers can now buy, sell and hold cryptocurrencies in the U.K. The list of supported digital assets includes Bitcoin, Bitcoin Cash, Ethereum and Litecoin.
As conversations regarding the use and purchase of digital assets in Africa continues to gain ground, details have emerged that about 47 percent of South African adults hold at least one form of cryptocurrency. 25 percent of these South Africans hold Bitcoin Research indicates that about 36percent of the country’s adults plan to invest in crypto in the future.
El Salvador’s Court of Accounts, which oversees its public resources, will investigate a complaint about the governments Bitcoin purchases and the construction of kiosks for cryptocurrency ATMs, according to a document seen by Reuters, an international breaking news company.
A non-fungible token (NFT) auction on the MISO token launchpad built on SushiSwap appears to have been exploited, with the attacker making off with roughly $3 million in ether, SushiSwap CTO JosephDelong tweeted Thursday. Peer-to-peer NFTs and collectables marketplace OpenSea is feeling the heat after admitting insider trading. It follows that an employee abused their position to front-run the purchase of NFTs before they were promoted on the website's homepage. OpenSea users have voiced their displeasure, accusing the platform of allowing “insider trading.” Could this lead to a new number 1platform in the NFT space?