On December 24th, as investors prepare for the Christmas season, the cryptocurrency market is relatively quiet. Bitcoin price remained stable on Saturday, hovering around $16,750. While you may be able to trade Bitcoin over the holidays, price action is likely to be limited.
According to the Hashrate Index, the total liabilities of publicly traded Bitcoin (BTC) miners exceeds $4 billion. According to a statement released by the company on Sept. 30, Core Scientific’s liabilities were about $1.3 billion.
During this bear market, the price of bitcoin mining fluctuated significantly, as evidenced by the recent bankruptcy of Core Scientific. Hashrate Index reports that Core Scientific, the leading public BTC miner by hashrate, has been struggling with debt for several months, unable to make 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 hub of web3 innovation and aims to staff Binance with graduates from the best technical institutions in the country. Wad stated in an interview with Businessline that he plans to hold recruitment events in Mumbai, India.
Binance is also interested in funding new web 3.0 businesses in India. Binance’s CTO has hinted that the company may investigate a handful of Indian startups for potential investments in the near future. Toronto, Vancouver and Mumbai are on the list of cities from which Wad intends to recruit new interns.
Binance’s home office employment model is well suited to attracting talent from any of the world’s top tech hubs due to the company’s emphasis on remote work.
Binance plans to team up with graduates from Indian institutions and colleges with a focus on Mumbai, which Wad identifies as one of the best digital incubator areas in the world.
These positive developments in the cryptocurrency market could help support the prices of Bitcoin and other altcoins.
Bitcoin price
The current Bitcoin 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 after a failed attempt to break above $17,000. If the bulls want another chance for higher prices, they must keep the price above $16,587.
A bearish break of the $16,600 support level could allow further selling up to $16,250 or $16,100; a bearish breakout of this level could expose BTC to $15,650. The market is currently showing 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 mixed signals can make it difficult to predict the market trend.
Alternative cryptocurrencies with faster profits
Cryptocurrencies have been trading sideways for several weeks now, prompting some traders to consider alternatives with greater near-term potential. The following are some of the top pre-sales in the market, allowing investors to get in early.
FightOut (FGHT)
FightOut (FGHT) is a move-to-win app that rewards users for participating in various exercises such as boxing, weightlifting, and yoga. It will run on Ethereum and launch in Q2 2023, offering a variety of in-app and in-person courses, with plans to launch up to 20 private-label academies and affiliate with many more.
Launched last week, its token sale has 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 increase in the next leg of the sale.
Visit FightOut now
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 analysis, strategy building tools and news feeds will be among its initial features, which will help novice and experienced traders stay ahead of the volatile cryptocurrency market.
The sale of your D2T token grossed over $10.5 million and is due 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.
Visit Dash 2 Trade Now
C+Charge (CCHG)
Running on Binance Chain, C+Charge (CCHG) is a peer-to-peer payment system for electric vehicle (EV) charging stations. Also scheduled for launch in the second quarter of next year, the objective is to expand access to carbon credits, with which it will reward users who charge their EVs at their terminals.
As a sign of how fast it can grow, the platform has already signed a deal with Perfect Solutions Turkey, adding 20% of EV chargers in Turkey to its network. 1 CCHG currently costs $0.013 and can be purchased using BNB or USDT.
Visit C+Charge now
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