Popular crypto trader and analyst Scott Melker is predicting new rallies for Polygon and two other altcoins while saying that Tezos is cleared for take-off. Melker tells his 595,300 Twitter followers that Ethereum scaling solution Polygon (MATIC) is primed to move higher after taking out its diagonal resistance that has kept the altcoin in a […]
The post Crypto Analyst Scott Melker Predicts Big Rallies for Several Altcoins – Here Are His New Price Targets appeared first on The Daily Hodl.
The Switzerland firm is an independent sister company of Arab Bank plc.
Arab Bank Switzerland announced Tuesday that it will integrate staking, trading, and custody services onto the Tezos blockchain’s native token (XTZ) in a bid to provide a digital asset environment for institutions, corporations, and high net-worth individuals.
The 50-year old establishment partnered with Tezos in the hope of benefiting from the ecosystems inherent focus on energy conservation, low-gas fees and fast upgrades.
Managing Director of Arab Bank Switzerland, Rani Jabban commented on the institution’s ambitions following the announcement:
“Digital Assets are a cornerstone of our strategy, requiring strong agility while complying with the highest security standards. Our mission is to bridge tradition and cutting-edge innovation. Tezos, with its scalability, high quality governance, and staking possibilities, fits perfectly within our vision.”
Related: Tezos risks correction below record high with XTZ rallying 250% since July
Swiss banking institutions have become prominent spearheads for the global crypto community’s adoption of digital assets over the past few years, benefiting from the country's lenient policies on regulation.
Just last week, fellow Swiss banking institution, SEBA Bank AG became one of the world’s first digital asset banks to be granted the approval of a CISA license from FINMA to facilitate a premium-grade custodial service for Swiss collective investment schemes.
Analytical data from Cointelegraph Markets reveals that the Tezos token (XTZ) has experienced a continuation of bullish growth this week, rising 45.50% following a parabolic couple of months for the asset. Much of this technical momentum is due to the platform's NFT facilitation last month a move that soon encouraged a partnership with US musician Doja Cat.
During the last few months, cross-chain bridge technology has grown a great deal and users can now swap assets between a myriad of networks. Today, between eight different bridges there’s $7.6 billion total-value locked across these platforms. Cross-Chain Bridges There’s a decent quantity of cross-chain blockchain bridges these days and it has allowed users to […]
The XTZ price rally, driven largely by Tezos' entry into the NFT space, has ended up painting a classic bearish structure.
A recent price boom in the Tezos (XTZ) market risks exhaustion as it triggers a classic bearish pattern.
Dubbed as the "ascending broadening wedge," the pattern develops when the price oscillates between two upward but diverging trendlines. According to its creator Thomas Bulkowski, these wedges tell less about buying exhaustion and more about sellers' ambition to take control, i.e., buyers tend to lose dominance every time the price touches the upper trendline.
XTZ's 250%-plus price rally from its July 2021 low of $2.08 has led to the ascending broadening wedge's formation. On Monday, the cryptocurrency tested the structure's upper trendline as resistance (around $7.5) to eye an extended upside move towards its previous record high of $8.76.
But the price corrected, confirming strong selling sentiment near the wedge resistance. It now risks enlarging its correction towards the lower wedge trendline (near $5), based on similar pullback moves spotted since July 2021.
As a general rule with ascending broadening wedge patterns, the price should eventually break below the structure's lower trendline and target the lowest point, i.e., around $2.38 in Tezos's case.
Central charts note that almost 80% of ascending broadening wedge exits are bearish. Meanwhile, the price falls towards the bearish target six out of ten times.
Despite grappling with an eerie technical setup, Cardano (ADA) expects to retain its bullish bias based on Cardano's proof-of-stake blockchain adoption.
Recently, American songwriter, rapper, and singer Doja Cat launched her nonfungible token (NFT) collection on OneOf, a digital art collectible marketplace running atop the Tezos blockchain. Her announcement coincided with a 42.65% upside move for ADA/USD during the September 9–10 trading session.
NFTs have emerged as one of this year's most trafficked trades, with OneOf's top rival OpenSea reporting about $3.4 billion worth of volume in August.
Meanwhile, Ethereum hosts most NFT projects, but high transaction costs have become a point of concern. As a result, many new NFT projects have been choosing Ethereum's cheaper alternatives.
For example, Solana's native asset SOL surged up to 825% from its July 20 low, primarily because of the success of Degenerate Ape Academy, an NFT project, followed by Sam Bankman-Fried's crypto exchange FTX's decision to integrate Solana on their NFT platform.
A similar craze assisted in pushing the demand for XTZ tokens higher in the past seven days.
.@DojaCat has done more for #Tezos than almost anyone this year.
— Altcoin Daily (@AltcoinDailyio) September 9, 2021
Related: Altcoin Roundup: High Ethereum fees kick-start a liquidity migration to layer-1 platforms
Last month, Tezos also received a boost from Europe-based banks Crypto Finance Group, InCore Bank, and Inacta. The firms announced that they would use the Tezos' DAR-1 token standard to issue their native tokens.
Additionally, InCore revealed its plans to launch of institutional-grade storage, staking, and trading services XTZ, raising prospects that wealthy investors would want to invest in the Tezos token in the near future.
The views and opinions expressed here are solely those of the author and do not necessarily reflect the views of Cointelegraph.com. Every investment and trading move involves risk, you should conduct your own research when making a decision.
Prominent crypto strategist and trader Michaël van de Poppe is keeping a close watch on XRP, Litecoin and two other altcoins that he says are close to waking up. In a new strategy session, the analyst tells his 116,000 YouTube subscribers that XRP is poised to rally and print a new all-time high. “When you […]
The post XRP, Litecoin and Two Other Altcoins Ready To Wake Up and Launch New Rallies, According to Top Crypto Strategist appeared first on The Daily Hodl.
Popular French video game publisher Ubisoft is set to become a validator node on the Tezos ecosystem.
Ubisoft, the video game studio behind popular titles such as Assassin’s Creed, Prince of Persia and the Tom Clancy series, will become a corporate Tezos baker, or validator node.
In a statement issued on Tuesday, Ubisoft announced its partnership with Tezos-backed Nomadic Labs that will see the latter creating a validator node on the Tezos network.
@Ubisoft is exploring #Tezos technology by becoming a corporate baker. Welcome to the ecosystem!
— Nomadic Labs (@LabosNomades) April 20, 2021
Read the announcement: https://t.co/ZM1IzBTVCM#blockchain #DigitalTransformation #crypto #Ubisoft pic.twitter.com/6wKCQIFAOJ
As a Tezos baker, Ubisoft via its Strategic Innovation Lab will join the group of validator nodes that authenticate and add transaction blocks to the network.
Bakers also distribute rewards earned from validating transactions to wallets that have delegated their staked Tezos (XTZ).
According to the announcement, the move to become a Tezos baker is part of Ubisoft’s broader plans of exploring the opportunities provided by novel technologies like blockchain.
Following the announcement, the video game company will be added to the list of 277 bakers on the Tezos network.
Commenting on the company’s decision to run a validator node on the Tezos network, Nicolas Pouard, blockchain initiative director at Ubisoft, stated:
“Ubisoft believes that blockchain has the potential to bring new possibilities to players and developers alike, and this new collaboration will allow us to pursue our innovation efforts with an ecosystem that aligns with our environmental-friendly approach thanks to its proof-of-stake consensus algorithm.”
Indeed, Tezos is not the first blockchain project to attract Ubisoft’s attention in the area of transaction authentication. As previously reported by Cointelegraph, Ubisoft became a block producer on the UOS Network back in January 2020.
With emerging developments at the intersection of blockchain and gaming, Ubisoft has been reportedly exploring adoption cases for novel technology in gaming to remain competitive in the industry.
Thanks to Draper Goren Holm, developers will now have the resources they need to build their decentralized applications on top of the Tezos protocol.
Draper Goren Holm announced that it had added the Tezos ecosystem to its $25 million venture fund. The Los Angeles-based investment firm revealed that it would “incubate and accelerate” some of the most prominent projects built in this network.
According to Tim Draper, Draper Goren Holm’s special limited partner, the Tezos protocol has everything needed to define the next generation of crypto adoption due to its governance protocol and scaling verticals.
“Tezos is the leading platform for smart contracts and low energy use, since they use proof of stake. We’re excited to fund projects on the Tezos blockchain and believe it has a promising future ahead. We believe it will be the smart contract standard,” said Draper.
Draper Goren Holm is not new to supporting Tezos. Last year, the venture capital firm backed the team responsible for building the first Tezos stablecoin, Tezos Stable Technologies.
It was also one of the first companies in the cryptocurrency industry to invest in the Tezos-based NFT marketplace Kalamint.
Hubertus Thonhauser, chairman of the Tezos Foundation Council, said that Draper Goren Holm has significantly contributed to the growth that the blockchain startup has seen over the past few years.
The most recent endorsement will have a significant impact in “fostering projects” and increasing the Tezos network’s utility.
Draper Goren Holm’s endorsement was well received, as enthusiasts rushed to exchanges to get a piece of XTZ after the announcement was made public.
Following a month-long consolidation, this cryptocurrency was able to break out of a symmetrical triangle that developed on its 4-hour chart. By slicing through the $4.55 resistance barrier, the odds significantly increased for XTZ to surge by more than 29.50%.
Another spike in demand would likely see XTZ make a new all-time high of $5.90.
This target is determined by measuring the height of the triangle’s y-axis and adding that distance to the breakout point.
Disclosure: At the time of writing, this author owned Bitcoin and Ethereum.
