On December 24, as investors prepare for the Christmas season, the cryptocurrency market is relatively quiet. Bitcoin’s price remained stable on Saturday, hovering around $16,750. Although you can trade Bitcoin during the holidays, price action is likely to be limited.
According to Hashrate Index, the total liabilities of publicly traded Bitcoin (BTC) mining companies exceed $4 billion. According to a statement released by the business on September 30th, Core Scientific’s liabilities stood at around $1.3 billion.
During this bear market, the price of bitcoin mining has fluctuated significantly, as evidenced by the recent bankruptcy of Core Scientific. Hashrate Index reports that Core Scientific, the top public BTC miner by hashrate, has been struggling under debt for several months, unable to pay off monthly debt service payments.
Binance Aims to Invest in India’s Web3 Startups and Hire Top University Graduates
Rohit Wad, CTO of Binance, sees India as a center of web3 innovation, and he intends to staff Binance with graduates of the country’s finest technical institutions. Wad stated in an interview with Businessline that it plans to hold recruitment events in Mumbai, India.
Binance is also keen on funding new web 3.0 businesses in India. The Binance CTO has hinted that the company may investigate a handful of Indian startups for potential investment in the near future. Toronto, Vancouver, and Mumbai are on the list of cities from which Wad intends to recruit fresh interns.
Binance’s work-from-home employment model is well-suited to bringing in talent from any of the world’s major technology hubs because of the company’s emphasis on remote labor.
Binance plans to staff up with graduates of Indian institutions and colleges with a focus on Mumbai, which Wad identifies as one of the best digital incubator areas in the world.
Such positive developments in the cryptocurrency market can help to support the prices of Bitcoin and other altcoins.
Bitcoin’s current price is $16,844, and the 24-hour trading volume is $14 billion. The BTC/USD pair is almost unchanged today, and continues to maintain a choppy range of $16,930 to $16,600.
BTC has retraced and is consolidating at $16,800 following a failed attempt to break out above $17,000. If the bulls want another shot at higher prices, they must keep the price above $16,587.
A bearish break of the $16,600 support level may allow for additional selling until $16,250 or $16,100; a bearish break of this level may expose BTC to $15,650. The market currently has a mixed bias, according to the MACD and RSI indicators.
The RSI suggests that the market is oversold, while the MACD suggests that there may be some upward momentum. These contradictory signals may make predicting the market trend difficult.
Alternative Cryptocurrencies with More Rapid Profits
Cryptocurrencies have been trading sideways for several weeks, prompting some traders to consider alternatives with greater short-term potential. The following are some of the top presales in the market, allowing investors to get in early.
FightOut (FGHT) is a move-to-earn app that rewards users for participating in various workouts such as boxing, weightlifting, and yoga. It will run on Ethereum and will go live in Q2 2023, offering a variety of in-app and in-person courses, with plans to launch up to 20 of its own branded gyms and affiliate with many others.
Launched last week, its token sale has already raised over $2.3 million. The current sale price is 60.06 FGHT for $1 (FGHT can be bought with ETH or USDT), although this will rise during the sale’s next stage.
Dash 2 Trade (D2T)
Dash 2 Trade is another Ethereum-based platform that will provide real-time analytics and social trading data when it launches early next year. Trading signals, on-chain analytics, strategy-building tools, and newsfeeds will be among its initial features, which will assist both novice and experienced traders in staying ahead of the volatile cryptocurrency market.
The sale of its D2T token has raised more than $10.5 million and is set to end in just 13 days, providing early investors with a rapidly closing window of opportunity. The altcoin will be listed on its first exchange on January 11, with LBANK Exchange, Changelly Pro, and Bitmart confirmed as the first trading platforms to support it.
Running on Binance Chain, C+Charge (CCHG) is a peer-to-peer payment system for electric vehicle (EV) charging stations. Also due to launch in the second quarter of next year, its aim is to widen access to carbon credits, with which it will reward users for charging their EVs at its terminals.
As a sign of how quickly it could grow, the platform has already signed a deal with Perfect Solutions Turkey, adding 20% of the EV chargers in Turkey to its network. 1 CCHG currently costs $0.013, and can be bought using either BNB or USDT.