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Sahana Kiran

Terra [LUNA] to reach the moon on Santa’s sleigh; New all-time high unlocked

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Bulls were rolling in the gifts into the crypto market upholding the Christmas spirit. Terra [LUNA] was on Santa’s “Nice” list as the altcoin went away with increased profits.

The crypto market was back in action. After spending days in a bearish regime, the cryptocurrencies were ready to move on. Bitcoin [BTC] finally took a leap above $50K. During press time, the king coin was trading for $51,066. All the other assets followed suit and decided to make the most of the ongoing bullish cycle.

Terra [LUNA] was the star of the show. The altcoin recently slipped back below $90 as its pursuit to reach $100 was interrupted. However, now, LUNA managed to hit an all-time high of $101.27. At the time of writing, the asset experienced a bit of a setback, as it was trading for $98.93. Over the previous 24-hours, the altcoin was bagging profits of about 13%. The last couple of days have been extremely generous for the altcoin as Terra surged up to 54%.

Sitting still as the ninth-largest cryptocurrency, Terra’s market cap was at $36 billion. Meanwhile, Bitcoin was trying to hit $1 trillion. Additionally, the global crypto market cap, at press time was $2.38 trillion.

Terra [LUNA] four-hour price hart on Binance

Terra
Terra [LUNA] to reach the moon on Santa's sleigh; New all-time high unlocked 2

The short-term price chart or the four-hour chart of Terra noted nothing but bulls in its market. The Chaikin Money Flow [CMF] indicator affirmed that LUNA was in the bullish market. The CMF marker resided over the zero median. The MACD line was over the signal line forming a bullish crossover.

With all these signs directed at the bull, the chances of LUNA hitting a new all-time high weren’t too bleak.

The Relative Strength Index [RSI] indicator revealed that Terra was being extensively purchased. The RSI marker almost hit the overbought zone.

PrimeXBT’s $100,000 trading competition to make Christmas more interesting

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The crypto-verse has managed to amass recognition and increased adoption. To spruce things up for the crypto community, platforms like PrimeXBT have set up a trading contest.

PrimeXBT has been a prominent member of the crypto industry. With the inclusion of over 50 assets from a wide range of industries like crypto, forex, indices, and commodities, the platform has managed to outshine several exchanges. PrimeXBT’s covesting feature has been its major selling point.

The extensive user base of the exchange and its virtual presence across 150 countries motivated it to roll out a brand new product called the Contests module. This feature allows users to take part in contests formulated by the platform. PrimeXBT decided to commemorate the launch of this module with its very first contest, the Grand Trading Competition.

The prize money involved in this trading competition is $100,000. The prize money would be distributed among the first ten traders that win the competition.

PrimeXBT’s Grand Trading Competition

The competition is made available to literally every PrimeXBT user and an individual can be a part of it without having to pay any sort of entry fee. This risk-free environment will put off the pressure on losing funds while upholding the spirit of enjoying the competition.

With the platform’s wide range of markets, participants have to show their best Return of Investment a.k.a ROI, and beat all the others to the top.

By merely showing off their best ROI, participants can win up to $50,000. The $100,000 prize money part of the trading competition is split into various parts. The trader acquiring the first position will be rewarded with $50,000. Traders in the second and third positions would be given $20,000 and $10,000, respectively.

Following the third position, the rest seven of them would be awarded with funds ranging between $500 to $7,000 based on their performance.

How to jump into PrimeXBT’s trading competition?

Being a part of any competition curated by PrimeXBT is an easy task. The main part involves the creation of an account on the platform. Existing users can simply log in to their accounts and select the “Contests” section from the top menu under the “Products” option.

Soon after this, all the live contests would be displayed on the screen. More details will be provided once the user clicks on the “view” option under every contest. Users can enter the contest of their choice by simply clicking the “join” button.

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PrimeXBT's $100,000 trading competition to make Christmas more interesting 4

The next step involves entering a nickname and agreeing to the rules of the respective contest. Users can view their contests under the “My Contests” tab and commence trading.

The latest contest module by PrimeXBT poses as a great opportunity for people who would want a risk-free way of making money.

Bullish days ahead for Terra [LUNA]; Can LUNA make it to $100?

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The bulls were slowly trying to exit the crypto market. Coins like Terra [LUNA], Solana [SOL] and Avalanche [AVAX] seemed to be the victims of the trend reversal. The other coins weren’t far behind as they sluggishly followed suit. Bitcoin’s aim to rise above $50k was once again disrupted by the bears. During press time, the king coin was trading for $48,450. Consequently, the market cap of BTC slumped to $914 billion.

The meme coins, Shiba Inu [SHIB] and Dogecoin [DOGE] were having a ball while the other coins were being sucked into the bearish pit.

Terra [LUNA] amassed immense popularity over the last couple of months. The altcoin managed to garner a spot in the top 10 beating prominent crypto assets. Currently, Terra sits as the ninth largest cryptocurrency with a market cap of $31/74 billion.

Moving over to its price, the bulls in LUNA’s market pushed the price of the coin all the way to a high of $97. So close yet so far. Despite being so close to $100, Terra failed to move beyond it. At the time of writing, LUNA was trading for $86.93 with massive price drop of 9.74%. Over the last couple of days, the altcoin secured gains of up to 33%.

Terra [LUNA] one-hour price chart on Binance

Terra
Bullish days ahead for Terra [LUNA]; Can LUNA make it to $100? 6

The short-term price chart of LUNA affirmed that the altcoin was in for a change. The Parabolic SAR indicator used in the chart was singing a whole different tune. The indicator laid out dotted lines over the price candles forming a potential hurdle for an upward breakout. However, the Awesome Oscillator indicator released a very bullish notion. The indicator formed a green closing bar and restored hope in the LUNA market.

The Relative Strength Index [RSI] indicator suggested that the LUNA market was filled with sellers. Since the RSI marker was dipped below the 50 median yet was directed towards the buyers’ zone, a possible change could be underway.

Elon Musk weighs in on Jack Dorsey’s debate; Explains why he’s “Pro DOGE”

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Elon Musk has been a close spectator of the crypto-verse. From his consistent endorsements of the prominent meme cryptocurrency, Dogecoin [DOGE], to his love-hate relationship with Bitcoin [BTC], Musk has managed to stay relevant in the crypto industry. More recently, Elon Musk decided to weigh in on a heated Twitter debate that involved Jack Dorsey, the founder of the social media platform.

The entire debate was inititaed by the founder of Rug Radio, Farokh Sarmad who addressed Jack Dorsey’s latest jab against the Web3 technology. The tweet read,

“Yo @Jack I promise if you look outside of your bubble of rich dudes you’ll see that there are creators actually building web3 and a whole revolution in the form of digital renaissance. Come say hi or listen in on our conversations, the NFT space is filled with geniuses.”

This tweet drew a lot of attention from an array of people across the community. Even though it started as a mere tweet about Web3 tech, people gave birth to the whole BTC vs. ETH argument.

Not just “anti-Web3” Twitterati began labeling Dorsey as “anti-ETH” as well. Dorsey did not steer away. He tweeted,

Elon Musk agrees with Dogecoin co-founder

Several prominent members of the crypto community decided to be a part of this Twitter thread. The co-founder of Dogecoin [DOGE], Billy Markus made sure to jump in. As the entire conversation spun into a ETH vs. BTC one, Dorsey went on to subtly accuse the Ethereum network for working like a corporate establishment.

Markus added to this thread by suggesting that BTC was giving power to people who are rich. His tweet read,

“I mean my goal is to build stuff and make money and have fun I’m used to the corporate establishment and don’t really see any meaningful break away from it ~ bitcoin just gives power to new rich people.”

Replying to this, the Doge lover stepped in. Elon Musk replied to Markus’s tweet and said, “That’s why I’m pro Doge.”

El Salvador’s Prez commemorates 21 December 2021 with the purchase of 21 Bitcoin

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The number 21 is significant for the crypto-verse, particularly for those who love Bitcoin. Seems like El Salvador is quite passionate about this number and the country’s latest move explains why.

As the entire globe traversed into the crypto-verse, El Salvador decided to take things up a notch and acknowledged Bitcoin as a legal tender. While this angered several officials across the world, an array of people lauded the region for its crypto-friendly move. However, protests against the full implementation of BTC are being carried out by Salvadorians themselves. This didn’t seem to stop the country’s President, Nayib Bukele from making more Bitcoin-inclined moves.

The crypto market recently underwent a bearish phase causing loss to Bitcoin and several other assets. Bitcoin was even pushed below the $50K zone. Now, as the king coin tries to make its way back over this area, Bukele decided to make a purchase of 21 BTC.

El Salvador celebrates the “last 21st day of the year 21 of the 21st century”

The fact that Bitcoin has a limited supply of 21 million has been beneficial for the industry. Commemorating this and the “last 21st day of the year 21 of the 21st century” the President of the country decided to make a huge purchase of 21 Bitcoins.

Linking the number 21 to El Salvador, the President noted the size of the country was about 21,041 square kilometers. Therefore, the number 21 seemed to be extremely significant to Bukele.

Further monumentalizing the number as well as 21 December 2021, Bukele tweeted,

Back in September while the country was on the verge of recognizing BTC as a legal tender, the Salvadorian government made its first purchase of about 200 BTC.

During the time of writing, Bitcoin was trading for $49,128 with a 0.92% surge over the last 24-hours. Over the last couple of days, the asset managed to bag gains of up to 2%. Additionally, the market cap of the king coin was seen trying to aim for $1 trillion. At press time, BTC’s market cap was at $929.27 billion.

Bulls bring in Christmas spirit into the Dogecoin [DOGE] market

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With Christmas just days away, the crypto-verse was bringing in good news for all the crypto lovers. Meme coins like Dogecoin [DOGE] and Shiba Inu [SHIB] said better late than never as they traversed on to the bullish arena. Altcoins like Avalanche [AVAX] and Terra [LUNA] were running the show by bagging massive gains.

Dogecoin [DOGE] witnessed a pretty hard fall from the top 10. The meme coin, despite its ever-surging popularity, had to settle for the 12th spot. During press time, DOGE’s market cap was noted at $23.00 billion. Its rival, Shiba Inu was just below DOGE with a market cap of $17.53 billion. The battle between these assets has been on for the longest time. However, considering SHIB’s current state, the chances of DOGE remaining on top were more elevated.

The price of Dogecoin recorded a dainty surge of 1.99% over the previous 24-hours. The meme coin failed to amass major gains over the week. Therefore, the price of the coin was $0.172, at the time of writing.

Dogecoin [DOGE] one-day price chart on Binance

Dogecoin
Bulls bring in Christmas spirit into the Dogecoin [DOGE] market 8

The one-day price chart of DOGE was registering the entry of the bull. The Parabolic SAR indicator laid out a dotted line below the price candles. The line further blocked the chances of DOGE dropping below its current price level. The Awesome Oscillator indicator was also exerting increased bullishness. The indicator affirmed this with the formation of strong green closing bars.

The Relative Strength Index [RSI] indicator pointed out a sellers’ market as the RSI marker sunk below the 50 median.

Additionally, meme coins got an earful from the Chairman of North Island, Glenn Hutchins, who urged the “disposal” of these assets. Appearing in a CNBC Squawk Box interview, he stated,

“We move into a situation where interest rates are increasing, easy money is turned off. [..] Dispose of the frothy end of the market meme stocks….”

Justin Sun bids adieu to Tron Foundation following his new role with WTO

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One of the most prominent faces of the crypto industry, Justin Sun was seen exiting his crypto project.

Sun, the founder of the Tron Foundation created a huge uproar in the crypto market. He managed to surge the popularity of the foundation as well as its native token TRX to a whole different level. Justin Sun’s marketing skills were lauded by many and his recent interest in NFTs was seen making headlines. However, Sun decided that he had to make a move to an entirely distinct industry.

The 31-year-old crypto whiz will be working for the Grenada government as the ambassador to the World Trade Organization [WTO]. Sun would reportedly be leaving Tron Foundation to the TRON token holders.

This undoubtedly came as a shock to many in the crypto community considering Sun’s increased efforts and interest in crypto. However, he affirmed that his departure from Tron didn’t mean that he was fleeing the crypto industry.

Justin Sun in a whole new avatar

While Justin Sun would focus on Grenada, his interest in crypto and blockchain technology will linger. His latest interview is proof that he would continue to work for the crypto industry.

Sun stated,

“Our crypto industry has got into the stage, we really need sovereign states and regulators and international organizations to recognize the potential and the benefits of the blockchain technology.”

Therefore, he hopes to render the pertinence of blockchain tech as well as cryptocurrency in developing nations. Sun further intends to promote new technology development in Grenada.

Furthermore, he pointed out that Caribbean states had immense potential and could even become the next Singapore. The level of freedom acquired in this region conquers the strict regulations imposed by the United States, added.

Additionally, Sun opened up a new Twitter account @HEjustinsun aka “His Excellency Mr. Justin [Yuchen] Sun.”

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Justin Sun bids adieu to Tron Foundation following his new role with WTO 10

Tron Foundation – Endgame?

The Tron Foundation will dissolve by July and Sun has already withdrawn three nodes that he oversees to sustain the Tron network.

While the value of TRX has been deterring over the past couple of months, Sun’s latest move could be harsh on the altcoin, several speculated. During the time of writing, TRX was trading for $0.08497 as its market cap was around $8.66 billion.

Shiba Inu endorsements keep rolling despite its latest price slump

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Shiba Inu [SHIB] came into the crypto-verse like a hurricane. Causing immense damage to other cryptocurrencies, SHIB managed to overpower several coins over the last couple of months. The popularity of the meme coin has been on an upward trajectory. Despite the ongoing bullish cycle, SHIB continued to score listings, partnerships as well as endorsements from all across the globe. The latest listing came from Taiwan.

The crypto-verse has been booming without a hurdle which is further paving the way to more financial freedom along with the emergence of promising new assets. While the crypto industry started off with just one coin, the growth following the release of that asset was impeccable. Currently, the crypto market entails a wide range of coins.

Off late, meme coins have been gaining the most traction. Crypto platforms around the world have been onboarding Shiba Inu. Now, Taiwan’s prominent crypto platform, BitoEX decided to welcome the popular meme coin.

In a recent tweet, the crypto exchange noted that SHIB was made available to trade earlier this week. This news excited the entire SHIB Army as they witnessed the ever surging global reach of the meme coin.

Taiwan wasn’t the only region that Shiba Inu was flying to, the altcoin decided to pay a visit to South America as well.

Shiba Inu’s integration into BitPay paying off already!

The largest virtual reality club in North and South America, VR World didn’t want to miss out on the crypto fervor. The increased adoption of SHIB seems to have lured in the VR platform.

In a recent tweet, the prominent crypto payments processor, BitPay announced the integration of Shiba Inu into the virtual reality club. Revealing the reason behind their interest in crypto, the CEO of VR World, Leo Tsimmer said,

“After VR World hosted the official afterparty for NFT NYC conference last month, it became clear to us – cryptocurrency has entered everyday life. [..] As we proceed with building an entertainment continuum fusing IRL and digital offerings, we expect a cryptocurrency to play a major role in our operations. “

Despite this, the price of the altcoin remained still at $0.00003229 with almost a 5% drop over the previous 24-hours.

Bulls try to avenge Solana [SOL] back over $200

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After a long and hard stay in the bearish arena, all the crypto assets were seen making their way over to the bullish colosseum. Solana [SOL], Terra [LUNA], and Avalanche [AVAX] seemed to be the bulls’ favorites. Amassing the most gains, the aforementioned assets were the stars of today’s market.

While Bitcoin [BTC] was trying to navigate its way beyond $50K, the altcoins were attempting to make up for the loss they experienced over the last couple of days.

Solana [SOL] made headlines for various reasons this year. The algorithm that the network uses and the price surge of SOL put the altcoin right under the crypto spotlight. Not only did the coin witness a massive swell in its price, but the market cap also followed suit.

The previous few days caused immense bloodshed in the Solana market sending the altcoin to a low of $150. However, the bulls in its market managed to push the asset all the way above $180. At the time of writing, SOL was trading for $183.77 with a 10.59% rise in the last 24-hours.

Despite its recent setback in terms of price, SOL managed to stay in the top five. During press time, SOL’s market cap was at $56.56 billion.

Solana [SOL] one-hour price chart on Binance

Solana
Bulls try to avenge Solana [SOL] back over $200 12

The short-term price chart of SOL exhibited a strong bullish notion. The Chaikin Money Flow [CMF] indicator used in the chart moved beyond the 0.30 median further signifying the presence of the bull. Earlier today, the MACD indicator underwent a reversal in trend. The bulls didn’t let the bears relax in the SOL market for too long as the MACD line took over the signal line forming a bullish crossover.

Furthermore, buyers were seen assembling in the Solana market. The Relative Strength Index [RSI] indicator affirmed a buyer’s market. The RSI marker rose all the way up to the overbought zone.

CoinMarketCap glitch briefly creates fake trillionaires

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Several crypto investors were ecstatic after viewing CoinMarketCap. A small glitch by the popular crypto data platform, got people believing that they were not just millionaires or billionaires but “zillionaires.”

Crypto data aggregators like CoinMarketCap and CoinGecko have been essential to the crypto-verse. An array of people go on to these platforms in order to check the prices of their desired crypto assets. However, things went haywire following a glitch in the CoinMarketCap system.

This glitch gave rise to increased confusion after the prices, ranking, and market cap of these assets appeared to be inflated. While Bitcoin [BTC], the world’s largest cryptocurrency has remained first on the list for the longest time, the newly emerging meme coin, Shiba Inu [SHIB] briefly amassed this spot.

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CoinMarketCap glitch briefly creates fake trillionaires 14

CoinMarketCap sends all the assets to the moon

The value of Shiba Inu [SHIB] hasn’t come anywhere close to a dollar, however, the revised prices on the platform shipped the meme coin’s worth to thousands. By this time, many had figured out that there was a problem with the data aggregator and therefore decided to triumph about their fake fortunes.

These prices did send everyone into a frenzy. However, CoinMarketCap decided to be witty about the whole incident. The platform took to Twitter and said,

“How did it feel to be a trillionaire for a couple hours?😂”

Prominent cryptocurrency exchange, Coinbase also experienced something similar. Addressing the situation, the exchange affirmed that the prices displayed had no impact on trading. The tweet read,

“We’re aware some customers are seeing inflated values for non-tradable crypto assets on Coinbase.com and Coinbase Wallet. This is a display issue only and does not impact trading.”

While Coinbase managed to resolve the issue, CoinMarketCap was still encountering issues. Earlier today, the price of Bitcoin was displayed as being down by 99%.

This glitch was resolved as the prices of crypto assets on the platform seemed to be normal, at the time of writing. Yet, the whole incident paved the way for a wide range of speculations. Many from the crypto community noted that the inflated price displayed on the platform could be the actual price of the assets a couple of years later.

Despite encountering this glitch, none of the platforms revealed the reason behind the same.