Latest Market News
Cryptocurrency-focused financial services firm Galaxy Digital Holdings is acquiring crypto custodian and service provider BitGo in a deal worth approximately $1.2 billion.
Venture capital firm Multicoin Capital announced that it raised $100 million to launch a new venture fund for investing in cryptocurrency projects. Multicoin Capital says that the fund is investing in both equity and tokens, and that it has already been active for several months.
The Dogecoin rampage continues today after surging 22% to set a new ATH price around $0.5. The previous ATH was at $0.45, and DOGE headed lower from there until support was found at $0.25. It rebounded from this support toward the end of May and started to surge this week to rise by a total of 72% and create the new ATH price today.
Jordan Belfort, the real-life personality behind "The Wolf of Wall Street", promoted Dogecoin and other assets on his Twitter account.
The price of Bitcoin took a slight 3% tumble today after rising into resistance at $58,270 (bearish .618 Fib Retracement). It had reached this resistance on Friday and could not break above it during the weekend. As a result, it has rolled over today and dropped as low as $55,000 before bouncing to the current $56,110 level.
Decentralized finance (DeFi) is growing beyond Ethereum, and one beneficiary of this trend has been RSK Network, a smart contracts platform that leverages the security of the Bitcoin blockchain.
Bitcoin continues to hold strong as it bounces back above $55,000 this week and is nearing back to the $60,000 level. The strongest bullish factor within the market is Etheruem breaking the $3,000 level today to set new ATH prices. This bullish run for Ethereum has allowed a plethora of other tokens to start surging also.
Ethereum continues its surge today with another 10%+ price hike, allowing the coin to break past $3,000 and head toward $3,200. The cryptocurrency has officially gone parabolic after it broke toward the upside of an ascending price channel on Saturday as it took out resistance at $2,811.
As we move through Q2, a number of cryptocurrency projects are moving ahead with continued development, and this week’s choices are set to benefit from significant updates and announcements that should strengthen their market positions and benefit their communities. The news should also result in increased amounts of attention to each respective currency over the coming weeks.
Coinerz Group, the company behind the blockchain-powered augmented reality app Triffic, have launched the beta of their GPS Pay product. GPS Pay is described as the sister app of Triffic, as it allows users to spend the rewards that they earn through the Triffic app.
