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Price analysis 7/15: BTC, ETH, BNB, XRP, ADA, SOL, DOGE, DOT, SHIB, AVAX

The recovery in the cryptocurrency markets is being led by Bitcoin (BTC), which has risen above the $21,000 level. However, BlockTrends analyst Caue Oliveira said that on-chain data shows a decline in “whale activity” since the month of May, barring the flurry of activity during the Terra (LUNA) — since renamed Terra Classic (LUNC) — collapse. A survey conducted in China shows that most participants believe that Bitcoin could fall much further. About 40% of the participants said they would buy Bitcoin if the price dropped to $10,000. Only 8% of the voters showed interest in buying Bitcoin if it drops to $18,000. Daily cryptocurrency market performance. Source: Coin360Millionaire investor Kevin O’Leary told Cointelegraph that crypto markets are likely to witness “massive volatility” and enter into a state of “total panic” before entering an accelerated growth phase. He said that companies run by “idiot managers” will face the heat, but that will result in the rise of stronger companies...

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DeFi’s downturn deepens, but protocols with revenue and fee sharing could thrive

At the moment, liquidity is hard to come by, but crypto traders and protocols still need inflow and revenue to remain functional. As the crypto winter drags on, savvy crypto investors have realized that one of the reliable sources of passive income that still exists can be found on protocols that generate revenue and share some of it with their respective communities. Let's take a look at some of the protocols that continue to thrive in the current down market. DeFi might be dead, but platforms with revenue will thriveData from Token Terminal shows revenue positive platforms are primarily the nonfungible token (NFT) marketplaces like LooksRare and OpenSea. Top dapps based on cumulative protocol revenue in the past 180 days. Source: Token TerminalAside from a few select protocols including MetaMask, Decentral Games, Axie Infinity and Ethereum Name Service, the majority of the remaining protocols with the highest revenue are decentralized finance platforms, showing that while De..

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DeFi for financial services: Alex Tapscott’s ‘Digital Asset Revolution’

Decentralized finance (DeFi) has massive potential to transform traditional financial services. Data from Emergen Research recently found that the global DeFi platform market size is expected to reach $507 billion by 2028. Moreover, the total value locked within DeFi currently exceeds $75 billion, demonstrating fast-paced growth compared to previous months this year. Yet, DeFi’s potential may still not be realized by business leaders unfamiliar with the blockchain ecosystem. This notion is highlighted in Alex Tapscott’s recent book, Digital Asset Revolution. Tapscott, co-founder of the Blockchain Research Institute and managing director at Ninepoint Digital Asset Group, told Cointelegraph that he believes digital assets are going to be an important building block for a new internet, along with a financial industry that will change business models and markets. However, Tapscott noted that, to date, very few resources have been available to help enterprise leaders understand the relevanc..

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Vladimir Putin signs bill banning digital assets as payments into law

Russian President Vladimir Putin has signed a bill into law prohibiting digital financial assets as payments more than a month after it was introduced to the country’s lower chamber of Parliament. In a Thursday update, the Russian State Duma noted that Putin signed a bill suspending certain parts of an existing federal law “on banks and banking activities,” effectively making it illegal for people to use cryptocurrencies to pay for goods and services. The initial draft of the bill from June 7 specified the “prohibition against the introduction of other monetary units or monetary surrogates on the territory of the Russian Federation.” The Duma chair approved the draft bill on June 8, and following revisions and other considerations, the upper chamber of Parliament, the Federation Council, approved the legislation on July 8. Under the Constitution of the Russian Federation, all bills need to be approved by both chambers before being signed into law by the president. Cointelegraph reporte..

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Uniswap price risks 45% crash by September despite Robinhood listing

The latest Uniswap (UNI) chart pattern suggests that investors should be prepared for a correction after gaining nearly 20% over the past week. A 45% UNI price crash ahead?UNI's price has been trending upward since mid-June inside what appears to be a "rising wedge," which traditional analysts view as a bearish reversal pattern due to its history of luring bulls into buying fake-out bounces. Therefore, rising wedges resolve after the price breaks below the lower trendline. Traders typically calculate a rising wedge's downside target by subtracting the distance between its upper and lower trendline from the breakdown point. UNI/USD daily price chart featuring 'rising wedge' setup. Source: TradingViewThat puts UNI's downside target at $3.8 by September 2022, down 45% from July 15's price if the breakdown begins near $6.52. However, the target would shift upward to $4.65 if the breakdown originates at the apex, i.e., where the wedge's trendlines converge..

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Bitcoin is now in its longest-ever ‘extreme fear’ period

Bitcoin (BTC) may have avoided fresh losses since falling to $17,600 last month, but the sentiment is on the floor. Now, one classic crypto market mood gauge is showing just how long and hard the average investor has suffered. 70 days of "extreme fear"While crypto market sentiment was already "comparable to funeral" before the start of 2022, the subsequent price drawdown in Bitcoin and altcoins produced cold feet like never before. This has now been quantified by the Crypto Fear & Greed Index, a tool that takes multiple sources into account to create an overall score of how the markets are feeling. As of July 15, Fear & Greed has spent 70 days in its lowest bracket — "extreme fear" — marking of a new bearish record. The Index consists of five such brackets, with the others being "fear," "neutral," "greed" and "extreme greed." A score below 25/100 on its normalized scare corresponds to "extreme greed," and it is that score zone that has characterized the past two months. The last time ..

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Community anticipation builds for Otherside’s First Trip demo run

The Otherside, a gamified metaverse project associated with the Bored Ape Yacht Club, is scheduled to deploy a technical demonstration of the first stage of the Otherside roadmap on Sunday, July 17 at 4 pm UTC. The First Trip experience will be exclusively accessible to Otherdeed land owners, known as Voyagers, and has been described by the platform as a “celebration of what’s to come and an opportunity for Voyagers to gather, explore and plan.” The company indicated that thousands of users could participate in the event, navigating through the curated arena of play that has been specifically designed for the test, as well as guinea-pigging the “3D, hi-res Voyager prototypes that can walk, run, jump and emote,” and a “private, tokengated live stream,” among other novel features. An Otherdeed asset for the Otherside has sustained a floor price of circa 2.9 ETH over the past few weeks, with 100,000 assets in supply and 35,000 owners at the time of writing. The First Trip demo arrives ..

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DeFi token AAVE faces major correction after soaring 100% in a month

The price of Aave (AAVE) has more than doubled in a month, but its bullish momentum could be reaching a point of exhaustion. AAVE price tests key inflection levelNotably, AAVE has surged by over 103% after bottoming out locally at $45.60 on June 18, hitting almost $95.50 this July 15. Nevertheless, the token's sharp upside retracement move has brought its price closer to the level that triggered equally sharp pullbacks since early June. In other words, AAVE has been testing an ascending trendline resistance that constitutes a "bear flag," a bearish continuation pattern. For example, the trendline's previous test on July 9 ended up in a 20% downside move. Similarly, a similar attempt on June 24 pushed AAVE price lower by nearly 30%. AAVE/USD daily price chart. Source: TradingViewAs a result of this distribution behavior, AAVE's ongoing attempt to break above the flag trendline could meet with extreme selling pressure. A pullback could then see AAVE/USD retest the flag..

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You can transform the world with blockchain: Dr. Jane Thomason

Jane Thomason is an Australian academic who spent 15 years running hospitals and doing development work abroad followed by a 20-year stint building a $250-million revenue company. Thomason — recently a blockchain adviser to the World Health Organization — says she “had an epiphany” while thinking about the 2004 Tsunami in Indonesia, in which the lives of over 200,000 people were washed away. “No one knew the identities of the people coming to the hospitals — all the identity documents were gone, all the bank records were gone, all the health records were gone. People wanted to send money to the people who were alive, but no one could send money directly.” Dr Jane Thomason believes in the power of blockchain to help make the world a better place.Thomason believes that if this data had been recorded on a blockchain, “people would be able to reconnect with their data really quickly and access their identity, health and bank records.” The realization convinced Thomason that she needed to ..

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Price analysis 7/11: BTC, ETH, BNB, XRP, ADA, SOL, DOGE, DOT, SHIB, AVAX

The United States dollar index (DXY) resumed its strong uptrend on July 11, indicating that investors are preparing for the July 13 CPI report to be hotter than expected. A survey of economists by Bloomberg estimates that in June consumer prices surged to 8.8%, a four-decade high. Arthur Hayes, the former CEO of derivatives trading platform BitMEX, believes that the U.S. dollar and the euro were moving towards hitting parity. If that happens, the central banks will have to adopt yield curve control, which could lead to the disintegration of the currency and ultimately benefit Bitcoin (BTC). Daily cryptocurrency market performance. Source: Coin360Glassnode analyst James Check said in an interview with Cointelegraph that the number of Bitcoin holders is higher during the current bear market. This shows the resilience of the Bitcoin network. Another positive is that the smaller investors have used the dip to add to their positions. Although the short-term picture remains skewed to the dow..

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