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Solana And Ethereum Recover After Registering Double-Digit Gains

Solana And Ethereum Recover After Registering Double-Digit Gains

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Ethereum and Solana especially galloped up on their charts significantly in the last 24 hours. Bitcoin had also reclaimed the $40k price mark at the time of writing therefore major altcoins followed a similar price movement.

The massive attack on Wormhole which is an eminent bridge protocol between Solana and Ethereum caused ETH to lose close to 8% while depreciating SOL by double-digits.

At the time of writing, Solana was seen trading for $109.18 after SOL was parked below the $100 mark yesterday.

Ethereum was seen changing hands for $2953.03 and could soon eye the $3000 price level with continued bullishness in the market. Buyers for both the asset resurfaced at press time, pushing the coins near the overbought zone.

Post dropping from the $100, Solana reclaimed the aforementioned price level and registered a sharp recovery of about 12%. Overhead resistance for SOL rested at $131.58, while, a push below the current price level will make the coin trade at $102.27.

The technical outlook of Solana was quite bullish at the time of writing. Additional price floor awaited at $156.43 while support region stood near $96.

The price of the altcoin was seen parked above the 20-SMA line. This reading indicated that sellers were responsible for driving the price momentum of the asset in the market.

The Relative Strength Index indicates buying strength of the coin. RSI on the four-hour chart stood at the 60-mark, which is considered quite bullish.

Buying strength recovered from the bearish zone and with continued demand, SOL might be seen in the overvalued zone.

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Awesome Oscillator painted a positive reading and the indicator showed green signal bars. These signal bars were seen above the half-line which meant that the overall trend of the market was bullish at press time.

Ethereum broke its support level of $2678.08 as it gained 14% at press time. The coin was priced at $2953.03 with bullishness on its charts at the time of writing. Support from the broader market would push ETH to revisit the $3,000 price level in the upcoming trading sessions.

If the coin has to target $3,000 then ETH has to continue trading between $2,953.03 and $2,678.08 over the immediate trading sessions, as a result ensuring a bullish week for the coin. A break above $3,000 would propel prices to $3289.36, however, buying strength has to be consistent for the altcoin.

On the flipside, ETH could fall through $2,678.08 and trade close to the $2,501.49 price floor if buying strength falls. At press time, Ethereum was overvalued. The Relative Strength Index was near the overbought territory as the asset was overvalued.

The price of Ethereum was seen above the 20-SMA mark which is indicative of buying strength in the market. Buyers were in charge of the price momentum in the market. MACD underwent a bullish crossover and flashed growing green signal bars at the time of writing.

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Algorand Has Appointed JPMorgan high-flyer Staci Warden As Its New CEO.

Algorand appoints new CEO Staci Warden

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Warden has been a member of the Algorand Foundation Board since September 2021 following a glittering career with JPMorgan, the Nasdaq stock exchange, and the US Treasury Department.

Algorand is actively targeting ecosystem growth in niches such as global crypto payment platforms, DeFi and NFTs. It is hoped Warden’s appointment will catalyse this expansion.

Speaking on the ALGO appointment, Staci Warden highlighted opportunities in the developing world alongside a commitment to the future of DeFi.

“I am excited to build on everything the Foundation has achieved to date, and will be focused on scaling our commitment to our community and our global partners,” she said.

“1.7 billion people in the world do not have access to finance, and the Algorand protocol has the speed, the security, and the decentralisation to address the problem of global financial inclusion at scale.

“By both ratcheting up our global ambitions as well as doubling down on our commitment to the DeFi ecosystem, I know that we will deliver tremendous value for both the Algorand ecosystem as a whole and the end-users it supports.”


The appointment of a new CEO marks an end to the leadership of outgoing Algorand CEO Sean Lee.

Lee served as CEO of the blockchain for 18 months and played a pivotal role in cementing Algorand’s market position throughout the sensational explosion in crypto markets in 2021.

During his time at the helm of Algorand, Lee prioritised community governance and sewed the seeds for the future of the ALGO ecosystem through the Accelerated Vesting program and launch of Viridis and Aeneas DeFi funding programs.

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Commenting on his departure, Lee revealed he will be moving on to other projects in the crypto industry.

“I’ve decided to leave the Algorand Foundation to pursue new opportunities in the blockchain space,” said Lee.

“Seeing the transformative potential of the applications being built on Algorand, now is the time for me to explore those avenues.

“I have deep confidence in Staci’s ability to lead the Algorand Foundation and the Algorand ecosystem through its next growth phase.”

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Manchester United selects Tezos as official blockchain partner

Manchester United selects Tezos as official blockchain partner

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Manchester United has today announced a landmark multi-year partnership that will see Tezos featured on the Club’s range of men’s and women’s training kits.

Tezos-branded training kit will be worn by the first team squad prior to this weekend’s match against Southampton, introducing Manchester United fans to the partnership and Web3 technology through the Tezos blockchain.

Victoria Timpson, Manchester United’s CEO of Alliances and Partnerships, said it was an exciting partnership for Manchester United “because it aligns us with one of the most advanced, reliable and sustainable blockchains in an area of technology which promises to truly revolutionise the way that everyone, including the club and our fans, can interact”.

“We are especially pleased to be partnering with one of the most eco-friendly blockchains, using technology that is energy-efficient, limits carbon emissions and lowers costs, consistent with the Club’s wider efforts to promote environmental sustainability,” she said.

“Partnerships are at the core of our strength as a club, supporting the drive for success on the pitch, and we are delighted to welcome Tezos as the latest industry leader to join our family of partners.”

Edward Adlard, Head of Adoption and Business Development, Tezos Ecosystem added that, throughout its history, Manchester United had constantly evolved, with the support of its global community of fans and partners.

“Tezos will enable Manchester United to use blockchain and Web3 to transform fan, player, team, and partner engagement,” he said.

“The decision by the world’s greatest football club to select Tezos as its blockchain of choice is further validation that thoughtful design paired with strong security, low gas fees, and community-led innovation are the essential factors driving the next wave of adoption in the new digital revolution.”

In addition to the Tezos branding on the club’s training kit, the partnership will also include several new fan experiences built on the Tezos blockchain and a pledge to support Manchester United Foundation with ongoing donations in TEZ – the native currency of the Tezos blockchain – to train, educate and inspire young people within the local community.

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Shiba Inu Announces Virtual Real Estate on Shiberse Ecosystem

Shiba Inu Announces Virtual Real Estate on Shiberse Ecosystem

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In an attempt to enter the metaverse in 2022, the meme coin Shiba Inu has unfurled its virtual real estate ‘Shiba Lands’. The new realm of real estate will be available for public auction or purchase soon.

In this new venture, SHIB token holders can own a part of the Shiberse metaverse. Meanwhile, the meme coin has yet to confirm the advantages of owning the lands in its metaverse. So far, the project said that people owning land in Shiba Real Estate would gain a lot of benefits.

As tweeted by Watcher Guru, a media covering crypto news, Shiba Inu will declare the purchase period of virtual real estate soon.


To prevent high gas fees, which happened in the Shiboshi NFT launch 2021, the Shiberse ecosystem will create a queue system for its land release. The queue system can process the sale more smoothly and in a much fair manner for customers.

LEASH coin holders will get priority access to the queue in the first period of land release. Afterward, the queue will be open to the public.

Shiba Inu has stated in its blog ShibaSwap:

This queue allows exclusivity by requiring interested parties to hold “$LEASH“, which gives priority and exclusive access to this first selling phase of the land plots in our Metaverse. In addition to the queue, we also have worked on an anti-dump system in order to protect $LEASH holders. The remaining lands will then unlock, and become available for the public after this exclusive selling process finalizes.

To highlight, the Shiba Land properties will initially be auctioned. Here, users can bid their land and location soon after the project announces the date of auction.

Earlier, virtual platforms like Decentraland, Gala Games, Sandbox, and Axie Infinity had fixed their position in the metaverse. Now, Shiberse has marked its growth in the metaverse which plows for more competition among other meta platforms.

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Despite being the latest entry to the metaverse, Shiba Inu has gained wide attention from investors who believe in its developing potential.

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