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IOTA’s WordPress Plugin Could Increase its Accessibility and Adoption

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IOTA’s WordPress Plugin Could Increase its Accessibility and Adoption
  • There is a new WordPress plugin that allows websites to accept IOTA
  • According to Weiss Ratings, the WordPress plugin could increase accessibility and mainstream adoption for IOTA
  • IOTA (MIOTA) is trading in bearish territory below the 50-day, 100-day and 200-day moving averages
  • However, there is a possibility of a trend reversal for IOTA (MIOTA) in the crypto markets

Website owners and developers who use WordPress can now accept MIOTA coins thanks to a new plugin that was developed by IOTA community member @shortaktien (Alexander), who went on to announce its availability through the following tweet.

Finally my #plugin for #WordPress is online. Now everyone can quickly and easily find and install the plugin in the integrated library.

Now it’s time to wait for Ledger.https://t.co/C6YNNEuQsH#iota #crypto

— Alexander 🌱🌿 (@shortaktien) July 20, 2021

The WordPress Plugin Could Increase Accessibility and Mainstream Adoption for IOTA

It is with the launch of the IOTA WordPress plugin that the team at Weiss Crypto Ratings has concluded that its availability could increase accessibility and mainstream adoption for the digital asset. The team at Weiss made this conclusion through the following statement on Twitter.

Developers from IOTA community have released plugin that allows all WordPress sites to accept IOTA in a matter of clicks. WordPress is one of the world’s most popular content management platforms, and this could increase accessibility and mainstream adoption for IOTA.

More on the IOTA Plugin on WordPress

The IOTA plugin on WordPress is aptly named ‘Pay With IOTA’ and is designed around the IOTA button. The latter is a simple button coded in html that can be used to accept payments, donations or to display the IOTA balance in your wallet. The IOTA WordPress plugin thus allows you to insert the IOTA button on any website, within an article, a page, or as a widget.

IOTA (MIOTA) is in Bearish Territory But Hinting at a Reversal

With respect to price action, like most altcoins, IOTA/USDT is facing a bearish scenario as the digital asset trades below the 50-day, 100-day and 200-day moving averages as seen in the following daily chart.

IOTA's WordPress Plugin Could Increase its Accessibility and Adoption 17

In addition, the following can be observed from the daily IOTA/USDT chart.

  • IOTA recently experienced a death cross
  • Trade volume is in the red indicating a scenario of continual selling since July 7th
  • The daily MACD further confirms the bearish scenario
  • However, the daily MFI and RSI are oversold, hinting at a possible short-term reversal
  • In terms of resistances, IOTA has to contend with $0.65, $0.68, $0.69 and $0.71 in the short-term

As with all altcoins, IOTA’s fate in the crypto markets is tied to that of Bitcoin. Consequently, IOTA’s potential reversal in the crypto markets is hinged on Bitcoin providing the ideal environment above $31k.

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Ethereum

Binance Reduces Daily Withdrawals for Unverified Accounts to 0.06 BTC

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Binance Reduces Daily Withdrawals for Unverified Accounts to 0.06 BTC
  • Binance has reduced daily withdrawal limits for unverified accounts from 2 BTC to 0.06 BTC
  • Binance has also reduced leverage on new futures accounts to 20x
  • There is also a new tax reporting tool on Binance for users who are obligated to report their capital gains
  • The exchange has implemented the new changes as it works towards complying with regulators globally

The popular crypto exchange of Binance has lowered the daily withdrawal limits for accounts that are not fully verified, from 2 BTC to 0.06 BTC.

The team at the exchange made the announcement of the new changes earlier today further explaining that they will take effect immediately for new accounts, and be implemented gradually for existing ones.

Existing users who have not verified their accounts will see their daily withdrawal limits adjusted to 0.06 BTC starting ‘ from 2021-08-04 00:00 AM (UTC) and completed by 2021-08-23 00:00 AM (UTC).’ Furthermore, verification was encouraged by the team at Binance for it would increase the daily withdrawal limits to 100 Bitcoin.

Leverage on Binance Futures Reduced to 20x For New Users

Hours ago, the exchange had also announced new limits on the amount of leverage available for new futures accounts. According to the official announcement, futures accounts that are less than 60 days old will have a maximum leverage limit of 20x.

Existing accounts that fall under this category will see their leverage reduce effective immediately. Existing trading positions will maintain their leverage until closed after which leverage will drop to 20x.

The leverage limits for new accounts will begin to increase gradually after 60 days.

Binance Introduces a New Tax Reporting Tool

Also today, Binance announced the launch of a new tax reporting tool that will assist traders in declaring capital gains or losses to their respective regulatory bodies. The new tax reporting tool is available via the ‘Account > API Management‘ feature on both the Binance website and mobile application.

Binance Implements Changes to Adhere to Various Regulatory Bodies

The aforementioned changes at Binance come in the wake of the exchange being pressured by various global regulatory bodies, to abide by existing rules in the various jurisdictions. Chances are, that Binance will continue to add new changes and policies in the days to follow.

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Ethereum

Ethereum 2.0 Now Has Over 200k Validators, 6.42M ETH Staked

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Ethereum 2.0 Now Has Over 200k Validators, 6.42M ETH Staked
  • The Ethereum 2.0 network now has over 200k validators
  • The Ethereum 2.0 deposit contract now has 6.42 million ETH staked worth $14.857 Billion
  • Kraken is the largest single depositor with 12.5% of all ETH in the contract
  • Ethereum is back to trading above the 200-day moving average and could keep pushing higher with the London Upgrade on the 4th of August

The Ethereum 2.0 network how has over 200k validators. The chart below courtesy of CryptoQuant further illustrates the increment of validators on the Ethereum 2.0 network since December 2020.

Ethereum 2.0 Now Has Over 200k Validators, 6.42M ETH Staked 17

Over 6.42 Million ETH is Currently Staked on the Ethereum 2.0 Deposit Contract

Furthermore, deposits to the Ethereum 2.0 contract continue to increase as the switch to a Proof-of-Stake algorithm, progresses on the network.

According to Etherescan, there is a total of 6,420,866 Ethereum on the ETH 2.0 deposit contract worth $14.857 Billion. The growth of deposits to the ETH 2.0 contract has been visualized through the following chart courtesy of CryptoQuant.com.

Ethereum 2.0 Now Has Over 200k Validators, 6.42M ETH Staked 18

Kraken Is the Single Largest Depositor of ETH to the Ethereum 2.0 Contract

In a similar analysis of the amount of Ethereum validators and deposits to the ETH2.0 contract, the team at Weiss Crypto Ratings pointed out that Kraken is the single largest depositor of ETH as explained in the following statement.

The largest depositor by far is Kraken which stakes 12.5% of all ETH. In fact, exchanges have deposited 24.9%, staking pools 21.8%, and whales 10.1% of all ETH into ETH2.

Ethereum Reclaims the 200-day Moving Average as Support

With respect to price action, Ethereum has benefited positively from Bitcoin’s impressive push to the $40.5k price ceiling earlier this week. The push to $40.5k by Bitcoin resulted in Ethereum hitting a local peak value of $2,433 and thus managing to recapture the crucial 200-day moving average as support.

Ethereum’s impressive rebound in the crypto market has been highlighted in the following ETH/USDT chart.

Ethereum 2.0 Now Has Over 200k Validators, 6.42M ETH Staked 19

At the time of writing, Ethereum is trading at the $2,300 price area with its bullish climb most likely to continue due to the following observations from its daily chart.

  • Ethereum is in bullish territory, trading above the 50-day moving average and the 200-day moving average
  • Trade volume is in the green for the last week
  • The daily MACD, MFI and RSI are yet to show exhaustion as investors anticipate the London Upgrade on the 4th of August
  • The 100-day moving average (yellow) provides an area of resistance around the $2,500 price area

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Zilliqa-Ethereum Bridge To Be Launched After ETH’s London Hard Fork

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Zilliqa-Ethereum Bridge To Be Launched After ETH’s London Hard Fork
  • Zilliqa’s bridge to Ethereum will wait for the successful launch of ETH’s London hard fork before going live
  • This is because the London hard fork changes Ethereum’s fee structure
  • Once implemented, the team at Zilliqa will observe the London hard fork before upgrading the Zilliqa mainnet to support the bridge
  • ZIL/USDT has escaped from the jaws of a descending triangle but still remains in bearish territory below the 50-day, 100-day and 200-day moving averages

The highly anticipated bridge between the Zilliqa network and Ethereum will go live after the successful launch of ETH’s London hard fork. This is according to the President at Zilliqa, Amrit Kummer who announced this fact through the following Tweet.

PSA: The $ZIL$ETH bridge unfortunately cannot go live before the Ethereum London hardfork currently scheduled to be around Aug 4, 2021.

— Amrit Kummer (@maqstik) July 25, 2021

The London Hard Fork Changes Ethereum’s Fee Structure

Mr. Kummer went on to explain that the delay till after the London hard fork, was due to the fact that the upgrade changes the fee structure on the Ethereum network. Consequently, the team at Zilliqa will wait till the London upgrade is implemented then observe the Ethereum network, before upgrading the Zilliqa mainnet to support the bridge.

He went on to Tweet the following timeline and steps before the Zilliqa-Ethereum bridge can go live.

Next steps to $ETH$ZIL bridge:

1⃣ Ethereum London hardfork (around Aug 4, 2021)

2⃣ Observe London hardfork

3⃣ Upgrade Zilliqa mainnet to support bridge

4⃣ Bridge 🚀

— Amrit Kummer (@maqstik) July 25, 2021

Zilliqa Breaks Above a Descending Triangle but Remains in Bearish Territory

With respect to price action, Zilliqa is trading at $0.06734 after a brief two days below a bearish descending triangle that had formed since mid-May. However, Zilliqa remains in bearish territory as ZIL/USDT is still trading below the 50-day, 100-day and 200-day moving averages as highlighted in the following chart.

Zilliqa-Ethereum Bridge To Be Launched After ETH's London Hard Fork 15

Also from the chart above, it can be observed that ZIL’s trade volume has been in the green for the last five days. In addition, the daily MACD confirms the renewed buying interest with a bullish cross below the baseline. The daily MFI and RSI are in neutral territory at values of 43 and 45, thus hinting at a possible continuation of ZIL’s current trajectory to higher levels.

Consequently, the 50-day moving average becomes a potential resistance zone at the $0.80 price area. If a pullback occurs during the weekly close, Zilliqa could find support at $0.059 which happens to be the base of the earlier identified descending triangle.

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