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Crypto News: Ethereum – A bull run that resists headwinds



Ethereum (ETH) was not spared by the flash crash on Saturday morning. In the space of 2 hours, approximately $ 64 billion of market capitalization evaporated to the point of dangerously bringing the price of Ethereum near support around $ 3400. Despite this sledgehammer, the prince of cryptos returned to the level of the symbolic and major support of $ 4,000. As time passes, Ethereum’s bull run defends itself well against headwinds. What we will find out through the technical analysis of ETH in weekly and daily units.

First try transformed: the lower bound of the bullish channel tested successfully

Even though the ETH flash crash caused a sales panic, you had to keep your cool. The bearish big wick candle of the previous week (green dot) reflects the emotional lift of investors. On the upside, the previous all-time high was almost reached. On the downside, we were in red alert mode for just a few hours, but enough to flush out thousands of crypto accounts.

The Ethereum bull run

If we are to take any good news from this, it is that the lower band of the bullish channel provided undeniable support for the bull run on Ethereum. Despite the headwinds, the start of the week started off on the right foot by setting out again to the assault in the direction of the center line of the canal in blue dotted lines.

However, it is clear that the prince of cryptos has been stalling for a few weeks. The Chikou Span , the curve which replicates the same variations as the underlying with 26 sessions behind, should overcome the resistance around previous historical records. This would agree with an ETH price which would come back to test the upper limit of the bullish channel.

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Second Transformed Test: Ethereum Stuck Inside Kumo

The inevitable happened. In daily units, Ethereum is found inside Kumo. This is the consequence of a series of several consecutive bearish candles since December 1st. The flash crash of Saturday morning only accentuated this bad momentum before a return to 4000 dollars.

The third attempt below this level has fortunately failed since his last ATH on November 10. Buyers are prepared to defend themselves against sellers. On the side of the Chikou Span (pink dot), it remains stuck under the prices, but has managed to bounce on the middle line of the bullish channel in blue dotted lines.

The release of Ethereum from Kumo will condition the bull run put in place since July 21. If it was done from the top, we would consider a return to the previous ATHs. Otherwise, we would have to deal with two negative technical signals: the breakout of the support around 4000 dollars and that of the bullish channel, with at the same time a Chikou Span which would only validate the first. This would take us to support at $ 3,400.

In summary, Ethereum has transformed the two technical signals mentioned during the previous market point. Fortunately, they do not question its bull run in the medium to long term, but confirm the status quo for the umpteenth time, despite a resurgence in inflows of investment in recent weeks.

As was the case with the Saturday morning flash crash, the prince of cryptos remains sensitive to Bitcoin’s acceleration in either direction. However, its superformance and resilience against the king of cryptos since mid-November confirms that phase 2 of the cryptocurrency cycle is gradually taking shape. This could be conditioned by the attitude of the Fed towards its monetary policy, in particular the pace and timing of rate hikes.

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Crypto News: Ubisoft names Tezos for its NFT Gaming platform



It’s been a while since video game giant Ubisoft entered the cryptosphere. Among the projects favored by the French company is the Tezos network (XTZ), of which it became a validator in April 2021. Today, it is NFT of in-game equipment from its latest game that Ubisoft will offer thanks to at Tezos.

Tezos serves as the backbone for Ghost Recon game

By their unique nature , enabled by blockchain networks, non-fungible tokens (NFTs) are a perfect digital transposition for cards and collectibles .

Ubisoft understands the strong potential that NFTs represent for gaming , and has just announced the latest fruit of its association with the Tezos crypto project . From this Thursday, December 9, 2021, the video game company will launch the beta version of its NFT platform , called Ubisoft Quartz .

As the Ubisoft teams explain in a press release as well as on Twitter, their latest game “Tom Clancy’s Ghost Recon Breakpoint” will be the very first to benefit from 3 of these exclusive NFTs, called “Digits” on Ubisoft Quartz. And these will therefore be based on the Tezos blockchain.

Ubisoft opens its NFT platform thanks to Tezos
Ubisoft Twitter Account

NFTs: Ubisoft’s first crypto-foray before the metavers?

The technologies carried by cryptocurrencies create a whole new universe of concrete applications . Whether these are in their infancy or even yet to be imagined, they provide a glimpse of a strong potential for development in a field such as that of video games.

“The digitization of our world has dramatically accelerated changes in the way users and communities interact online. As blockchain technology matures (…) it begins to find more concrete uses in our daily lives. (…) Likewise, new economic models are appearing, play-to-earn being perhaps the most important, with the sale of virtual land. (…) “

Didier Genevois, Ubisoft blockchain technical director

Moreover, the teams of the video game giant are already setting out their future ambitions in the press release announcing Ubisoft Quartz: the construction of metaversees for gamers.

“Our long-term efforts have led us to understand how the decentralized approach of the blockchain could truly make players players in our games, (….) Ubisoft Quartz is the first brick of our ambitious vision to develop a real metaverse. (…) “

Nicolas Pouard, vice-president of Ubisoft’s Strategic Innovation Lab

In addition, the Tezos blockchain is based on Proof of Stake (PoS) consensus, which is much less energy intensive than Proof of Work (PoW). The recent revelation of the very low power consumption required to operate Tezos has annihilated any form of ecological criticism possible, especially given the usefulness and benefits provided by the decentralized trust networks that are blockchains.

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BitMart hack: Shiba Inu and Huobi to the rescue



BitMart receives support from Huobi and the shiba inu community (SHIB) following its hack. One offers concrete help, while the other shows above all its solidarity with BitMart in a symbolic way.

BitMart hack: Huobi on the trail of stolen funds

On December 5, 2021, Huobi said in a tweet that the platform “will do its best to help” the BitMart exchange, which on the same day suffered a hack of more than $ 196 million in cryptocurrency. Huobi will report in particular the stolen assets that will pass through its platform .

For Huobi Global Strategy Director Jeff Mei, transparency and responsiveness are the right answers to these attacks:

“Exchanges should alert their users, other exchanges and law enforcement authorities as soon as possible and be transparent about what they are doing to deal with hacking and the loss of user funds. “

The emotional support of the SHIB community for BitMart

The SHIB community also showed its solidarity with BitMart , while recalling the efforts it is making to analyze possible flaws that could expose the decentralized exchange ShibaSwap to possible attacks:

“Even though the heart of our project is decentralization, we want to show our support and give some love to our friends at @BitMartExchange who are already working hard to resolve the security incident that happened yesterday. “

The SHIB community shows its solidarity with the BitMark exchange which has suffered a hack.
SHIB community publication – Source: Twitter

BitMart CEO Sheldon Xia tried to reassure users of the exchange who were victims of the hack, suggesting that the company is looking for several solutions to reimburse all the stolen cryptocurrencies  :

“We are also talking to multiple project teams to confirm the most reasonable solutions, such as token exchanges. No user assets will be harmed ”

BitMart, however, had to temporarily stop all withdrawals and deposits following the hack, and expected a recovery no later than December 7, 2021, which is today.

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BitMart increases the statistics in terms of hack in decentralized finance. While the cryptosphere registers less fraud, DeFi is an exception. The sector is today the preferred target of hackers . Not sure that inter-exchange solidarity or between crypto players in general is sufficiently dissuasive for hackers who can siphon millions of digital assets in a few clicks.

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Crypto News: Colombia’s Largest Bank Now Trade Bitcoin



Bitcoin in the midst of conquering South America – Colombia has many players who are in favor of Bitcoin (BTC) and cryptocurrencies . This fact is once again demonstrated with Bancolombia, a large multinational banking corporation, which will allow exchanges of BTC as well as 3 other crypto-assets.

Banks are starting to embrace Bitcoin and cryptos

If El Salvador has made Bitcoin a national currency , other Latin American countries are starting to integrate crypto-assets into their economy. This is the case in Colombia , via the Bancolombia bank , which is part of a large banking group also including banks in Panama (Banistmo) and Guatemala (BAM).

With its nearly 18 million customers , the Bancolombia group has just announced its partnership with the Gemini cryptocurrency exchange platform . In a press release issued on December 6, Gemini and Bancolombia announced in effect that they will provide a number of customers in the large bank of entry gateways and output in fiat currency to exchange Bitcoin (BTC) Ethereum (ETH), Litecoin (LTC) and Bitcoin Cash (BCH), via the Winklevoss brothers’ crypto-exchange.

This banking crypto-trading experience, which will begin on Tuesday, December 14, 2021, will first – initially – be offered to a small group of Bancolombia clients.

Partnership between the Gemini crypto-exchange and the Colombian bank Bancolombia

The Gemini crypto-exchange expands its offer and weaves its web

Based in New York , the exchange platform for twins Winklevoss has mainly developed its ecosystem in North America so far, but is now actively seeking to internationalize .

“This partnership is an important step in the strategic expansion of Gemini’s presence in Latin America. We look forward to working closely with the Colombian crypto ecosystem, and supporting crypto-assets that empower Colombians to take control of their financial lives. (…) Cryptocurrencies are borderless by nature, and we are committed to expanding access to crypto to as many people as possible around the world. (…) “

Cynthia Del Pozo, Strategy and Development Director for Gemini

The integration of Gemini’s offer into Bancolombia is supported by a pilot program of the Colombian government. The local financial regulator, the Superintendencia Financiera de Colombia (SFC), is thus responsible for facilitating access to cryptocurrencies for the citizens of Colombia.

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In October, another South American country was profiting from the incursion of cryptos into its economy. Indeed, Peru has since benefited from a stablecoin of its national currency (the Peruvian sol) which is called PEN, and which is based on the Stellar network (XLM).

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