Crypto

Fantom’s FTM leads crypto-market relief rally | Daily News| OKEx Academy

01/12/2022
Bitcoin Ethereum News

Twitter founder Jack Dorsey is spearheading efforts to protect Bitcoin developers from litigation.

The wider cryptocurrency market is up a solid 3% over the past 24 hours off the back of a 3.6% increase in the price of ETH. Market-leading BTC, meanwhile, is up a more modest 1.3%. Various altcoins, meanwhile, are up more than 5% — while Fantom’s FTM is up more than 20%.

The cryptocurrency market is a sea of green today, with some altcoins significantly outperforming. Source: COIN360

Leading industry headlines today is the news that Twitter founder and former CEO Jack Dorsey is spearheading a new fund to help protect Bitcoin developers against litigations — primarily, those stemming from self-proclaimed Bitcoin creator Craig Wright. The staff is mainly composed of volunteers and part-time lawyers, and the fund is currently not seeking more funding.

Top altcoin gainers and losers: FTM continues hot streak

  • OMG/USDT +11.34%
  • SIS/USDT +9.89%
  • FTM/USDT +9.58%
  • LEASH/USDT -7.58%
  • WSB/USDT -9.35%
  • GLMR/USDT -24.36%

Fantom’s FTM is the top-performing large-cap cryptocurrency on OKEx today, per the exchange’s default time settings. However, OMG is the biggest gainer of all altcoins on the exchange.

FTM is the top-performing large-cap altcoin on OKEx today. Source: OKEx

BTC technical analysis: Challenging four-hour EMA ribbon

The price of BTC has found support after its false breakdown and is now trading inside of the four-hour ribbon of exponential moving averages. Should buyers take control, 46,000 USDT could be the next area of major resistance. Failure to reach that price target could be construed as a bearish sign.

OKEx’s BTC/USDT 4h chart — 1/12. Source: OKEx, TradingView

ETH technical analysis: Grinding higher against BTC

The price of ETH continues to grind higher against BTC as the wider market undergoes the start of a potential relief rally. Still, ETHBTC is a far cry from the old point of control located around 0.0824 BTC — but flipping the four-hour EMA ribbon would be a bullish development.

OKEx’s ETH/BTC 4h chart — 1/12. Source: OKEx, TradingView

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Source: https://www.okex.com/academy/en/fantoms-ftm-leads-crypto-market-relief-rally-crypto-market-daily/