Cryptocurrencies
Gemini invests $24M for expansion in India
Published
10 months agoon
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Cryptocurrency exchange Gemini is allocating 2 billion rupees ($24 million) for its expansion in India.
According to the Sept. 26 announcement, the funds will be used to grow Gemini’s development center in Gurgaon. The exchange said:
“Our teams based in Gurgaon will also be responsible for core platform fundamentals in the areas of compliance, data pipelines and warehousing, security, and payments, complementing our 500+ strong global workforce.”
Since its initial launch in May, the Gemini Gurgaon Development Center has expanded to over 70 staff, with active hiring for software engineers, technical product managers, talent acquisition, finance, support, and compliance. In supporting the expansion, Gemini cited the Indian government’s “robust support framework that allows startups to thrive.” The site also acts as a developer for the exchange’s new features in nonfungible tokens and asset marketplaces.
In April, Gemini disclosed “big plans for international growth this year in APAC,” referring to the Asia-Pacific region. Its India operations are expected to be the second-largest behind only Gemini’s U.S. headquarters. Pravjit Tiwana, the firm’s CEO for the APAC region, called India a “global hub for entrepreneurship and technological development.”
Since its inception, India has actively adopted blockchain technology, with around 50% of local and state-level governments incorporating blockchain in their data management systems and verifiable certificate issuances. In a recent survey, over 56% of Indian firms expressed interest in enterprise blockchain in a country with an estimated Web3 developer base of 10 million individuals. Between 2021 and 2022, 450 Web3 startups in India received $1.5 billion in investments.
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ChainLink (LINK)
2 Cryptocurrencies To Buy Boosting Into Top 10
Published
6 days agoon
July 2, 2024By
admin![](https://blocknewsmedia.com/wp-content/uploads/2024/07/Crypto-To-Buy.jpg)
Cryptocurrencies entered July with a strong conviction to reverse the negative trend in June. Bitcoin rebounded above $60,000, sending bullish signals among altcoins which not only followed Ethereum’s reversal past $3,400 but posted remarkable gains. Cryptocurrencies to buy like Solana (SOL), Dogecoin and Cardano pushed upwards amid growing optimism for spot ETFs in the US.
As investors beam with the hope of a bull run in H2 of the year, it is important to identify cryptocurrencies to buy showing potential to grow exponentially and reach new all-time highs in price and market capitalization.
For many crypto projects, reaching the coveted top ten tier is not a small feat. Such an achievement often signifies commendable network growth, ecosystem expansion, and high competitiveness.
Seeking exposure to such cryptocurrencies to buy opens investors to tremendous gains including portfolio growth. In this article, CoinGape commits to exploring 2 unique digital assets; Chainlink (LINK) and Floki.
1. Cryptocurrencies To Buy – Chainlink
With renewed buying interest among whales, the Chainlink price rebounded by 16.2% from a multi-month support zone at $12.63, reaching $14.678. This surge suggests that the LINK coin could sustain above the 38.2% Fibonacci retracement level— a healthy correction level for buyers to counterattack.
![2 Cryptocurrencies To Buy Boosting Into Top 10 In July](https://coingape.com/wp-content/uploads/2024/07/chart-25.png)
![2 Cryptocurrencies To Buy Boosting Into Top 10 In July](https://coingape.com/wp-content/uploads/2024/07/chart-25.png)
During the June correction, the Chainlink coin experienced significant outflows, with its price plummeting from $19.2 to $12.6, resulting in a 34.2% decline. The $12.6 low accompanied by a 32.8% FIB level and 100W EMA creates a high area of interest (AOI) for buyers.
In the last six months, the LINK price rebounded support times from the aforementioned support indicating the buyers are aggressively defending this level to prevent prolonged correction. The recent reversal from bottom support has propelled the LINK price to $14.5, while the market cap jumped to $8.85 Billion.
Recent on-chain data analysis from Lookonchain reveals that whales and institutions are accumulating Chainlink (LINK). Over the past seven days, 54 fresh wallets have withdrawn a total of 2.08 million LINK, valued at approximately $30.28 million, from Binance.
The support trendline on the daily chart, which has been in place since June 2023, underpins the current recovery. Buyers must maintain this level to carry a prolonged bull run.
2. Floki
According to data from CoinMarketCap, the current market cap has risen to approximately $1.66 billion, marking an increase of 2.80%. Notably, the trading volume has spiked by 47% in the past 24 hours, reaching $226 million, underscoring the increasing investor interest and market activity surrounding this cryptocurrency.
![cryptocurrencies to buy](https://coingape.com/wp-content/uploads/2024/07/chart-26.png)
![cryptocurrencies to buy](https://coingape.com/wp-content/uploads/2024/07/chart-26.png)
Over the last week, Floki has enjoyed a 4% increase in value. Currently, the coin fluctuates within a narrow price range of $0.00016 to $0.00018, marking a notable appreciation in its market price.
FLOKI could encounter a major obstacle if it surpasses the $0.00018 mark, with a strong resistance point at $0.0002. If it sustain above this threshold, the path could open for an upward move toward $0.0003. A continued rally might even take it to $0.0005.
On the flip side, a decline below $0.00017 might send FLOKI down to its lower support trendline at $0.00016. Further market downturns could pressure it to a support level of $0.00015. This could indicate a bearish trend for the coin.
Frequently Asked Questions (FAQs)
This is a period where cryptocurrencies other than Bitcoin rally achieving new highs and market capitalisations.
No. However, LINK has the potential to become a top 10 crypto in 2024. It currently ranks #17 on CoinGecko.
High net worth individuals are investing in the crypto market. They buy and sell tokens in large volumes often impacting prices.
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John is a seasoned crypto expert, renowned for his in-depth analysis and accurate price predictions in the digital asset market. As the Price Prediction Editor for Market Content at CoinGape Media, he is dedicated to delivering valuable insights on price trends and market forecasts. With his extensive experience in the crypto sphere, John has honed his skills in understanding on-chain data analytics, Non-Fungible Tokens (NFTs), Decentralized Finance (DeFi), Centralized Finance (CeFi), and the dynamic metaverse landscape. Through his steadfast reporting, John keeps his audience informed and equipped to navigate the ever-changing crypto market.
The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.
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Altcoins
Lekker Capital CIO Spotlights Prime Opportunity
Published
2 weeks agoon
June 27, 2024By
admin![](https://blocknewsmedia.com/wp-content/uploads/2024/06/BTCUSD_2024-06-27_09-59-24.png)
Quinn Thompson, Chief Investment Officer (CIO) at Lekker Capital, articulated a strong buy signal for cryptocurrencies amidst a landscape fraught with bearish sentiment. In a statement released through the social media platform X, Thompson described the present market conditions as “one of the most obvious and attractive crypto buying opportunities of recent memory.”
Lekker Capital, which has carved a niche in trading cryptocurrencies based on macroeconomic cues, provides an analysis that contrasts sharply with the prevailing market mood. Thompson’s commentary comes at a time when the broader crypto community appears enmeshed in pessimism. He expressed concern over the current trend where it’s become fashionable among crypto investors to adopt a bearish stance. “In all of my 5 years in crypto, I have never seen it be so ‘cool’ amongst crypto native investors as it is right now to be bearish,” Thompson noted, reflecting on the cyclical nature of market sentiments.
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Thompson pointed to the reactive nature of the market, particularly surrounding major events like ETF launches. He revisited the aftermath of the US spot Bitcoin ETF launch, which contrary to the bullish anticipation, saw Bitcoin’s price plunge from $49,000 to $38,000, marking a steep 22% decline in just 12 days. This event, he argued, should serve as a cautionary tale about the market’s tendency to move against consensus expectations.
Addressing the most recent market dynamics, Thompson highlighted the significant impact of the sell-off that dampened the spirits of market participants, discouraging the usual strategies of buying the dip with leveraged positions. “It’s clear this most recent selloff has finally stung market participants given the lack of leveraged long dip buying,” he observed.
This scenario, according to him, sets the stage for a market correction that typically follows a pattern of initial slow recovery, stabilization, and then a rapid upward movement once a catalytic event occurs. He recalled the BTC ETF leak in October as a “buy the news” event that realigned market sentiment.
Furthermore, Thompson discussed the forward-looking nature of financial markets, emphasizing that the crypto market is no exception. He believes that the market has already adjusted to past events such as the Mt. Gox saga and Bitcoin sell-offs from the US and German governments. “The key thing to remember here is markets are forward looking. Citing the Mt. Gox or US and German government supply overhangs is old news – the market has priced this in. Fear and capitulation invokes an irrational near-sightedness,” the Lekker Capital CIO remarked.
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Looking ahead, he underscored several macro and microeconomic developments poised to influence the market. “On the macro front, these include a November election and additional Fed liquidity. On the micro front, they are the ETH ETF, Circle IPO, and improved BTC miner profitability thanks to AI,” he explained. These factors are expected to reduce selling pressure (e.g. Bitcoin miners) and invigorate market sentiment.
Delving deeper into market technicals, Thompson pointed out that several key indicators are at cycle lows, which historically precede upward movements. He noted, “BTC and ETH CME basis, alt open interest as a percentage of total, and macro relative value all sit at cycle lows while stablecoin supply is finally growing again.” This combination of factors, according to Thompson, signals a potential market bottom forming.
In a bold closing prediction, Thompson projected significant rallies for major cryptocurrencies in the near future. “Personally, I think ETH will reach $7,000 and BTC will make its first attempt at $100,000 by the election in November,” he stated confidently.
At press time, BTC traded at $60,766.
![Bitcoin price](https://www.newsbtc.com/wp-content/uploads/2024/06/BTCUSD_2024-06-27_09-59-24.png?resize=3628%2C1675)
Featured image from Shutterstock, chart from TradingView.com
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1inch
6 Cryptos To Duck Trading This Week As Price Risks Fall
Published
2 weeks agoon
June 22, 2024By
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The ever-evolving world of cryptocurrencies appears to be bracing for yet another seismic shift in the prices of certain tokens. As massive token unlocks loom over the horizon, 6 cryptos prepare to take the heat of increased market supply in the coming week.
Token unlocks, the periodic release of locked tokens into the market, can significantly impact the supply and demand dynamics. This event, often seen as a potentially bearish signal, is urging traders and investors to exercise caution and avoid trading specific cryptocurrencies. Here’s an overview of 6 cryptos that are about to face massive token unlocks in the coming days.
$45M Worth Token Unlocks Approaches
According to the data revealed by the Token Unlocks App, $45.72 million worth of cliff unlocks are set to occur over the coming week. The cryptos that will bore the brunt include AltLayer (ALT), Yield Guild Games (YGG), Ethena (ENA), SIngularityNET (AGIX), Acala (ACA), and 1inch (1INCH). So, let’s look at these unlocks that are approaching.
AltLayer (ALT)
As per the data, the AltLayer (ALT) crypto is set to face an unlock of a whopping 105.21 million ALT tokens, worth $20.03 million, on June 25. This totals a significant 6.92% of AltLayer’s circulating supply, signaling that a notable price dip ahead is possible with the unlock.
ALT price traded at $0.1903 today, down 4.15% in the past 24 hours.
Yield Guild Games (YGG)
Meanwhile, YGG will face an unlock of 16.69 million tokens, worth $1067 million, on June 27. The unlock is equivalent to 4.48% of the total circulating supply, posing a significant threat to price.
YGG price traded at 0.6387, a slip of 0.44% over the past day.
Ethena (ENA)
Simultaneously, ENA will encounter an unlock of 14.89 million coins, worth $8.88 million, on June 23. This totals 0.87% of the circulating supply, also emerging as a threat to future price actions.
ENA price tumbled 2.71% from yesterday to $0.5956.
SingularityNET (AGIX)
The AI coin that is set to witness a token merger to become ‘ASI’ will also witness a significant token unlock in the coming week. Notably, 8.57 million tokens, worth $5.51 million, will be unlocked on June 28. The unlock amount equals 0.67% of the circulating supply, a potential threat to price.
Meanwhile, AGIX traded at $0.6476, a slight 0.55% jump from yesterday.
Also Read: XRP Price: Whales Hoard 130M Coins As Ripple Lawsuit Goes To Magistrate Judge, What’s Next?
Acala (ACA)
The Acala crypto is set to experience an unlock of 4.66 million tokens, worth $328.52K, on June 25. This is equivalent to 0.46% of the circulating supply.
ACA traded at $0.07021, down 2.99% in the past 24 hours.
1inch (1INCH)
The 1INCH crypto will face a comparatively smaller 64.28K tokens unlock, worth $25.80K, on June 27. The amount is marginal, totaling 0.01% of the token’s circulating supply.
However, it’s worth noting that the 1inch price chart shows a monthly pullback. Further bearish factors might cause additional price dips.
Also Read: YieldMax Applies For Ether Options ETF Amid Spot Ethereum ETF S-1 Amendments
CoinGape comprises an experienced team of native content writers and editors working round the clock to cover news globally and present news as a fact rather than an opinion. CoinGape writers and reporters contributed to this article.
The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.
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