The market-leading cryptocurrencies added to yesterday’s bounce after finding support from earlier weakness.
The total cryptocurrency market is up nearly 1.5% on the day after BTC gained the same, while ETH is up by a similar percentage. Past winner GMT is outperforming most altcoins after gaining another 20%.
DeFi Digest: Ethereum-based wallet Argent raises $40 million
Argent, a decentralized finance wallet built on Ethereum, announced a $40 million raise earlier today. The Series B round, led by Fabric Ventures and Metaplanet, will use funds for further product development, expansion in Latin America and hiring. Additional investors included Paradigm, Jump Crypto and Animoca Brands.
The startup aims to build a single application for all things DeFi and Web3 — such as gaming, nonfungible tokens and decentralized autonomous organizations. Their commitment to this mission will hinge on the success of Argent X, the first wallet built on Ethereum zero-knowledge rollup StarkNet.
German-based football media company OneFootball raised $300 million in a Series D round led by blockchain fund Liberty City Ventures. With over 100 million active users, the company is looking to grow in Web3 by partnering with Animoca Brands’ Yat Siu, who will join the boards of OneFootball and OneFootball Labs.
The new funds will be used to allow clubs, leagues and players to build digital experiences and collectibles on the blockchain. Users will be able to store their nonfungible tokens using their email address and buy with a credit card as a payment source. OneFootball is just one of a number of companies aiming to corner the sport’s digital collectibles market.
Top altcoin gainers and losers: APE surge continues
APE continues to dominate altcoin markets as traders prepare for the Yuga Labs’ metaverse land sale this Saturday — which will exclusively use the token for payment.
BTC technical analysis: Moving up
Despite a sell-off earlier in the week, BTC seems to have found support after bottoming at 37,700 USDT. The market leader jumped above 40,000 USDT after rejection on Tuesday. For now, bulls will want to see buying momentum continue — otherwise, their attempts for a push up will be in vain.
ETH technical analysis: Holding support for now
ETH appears to have found support halfway between 2,700 USDT, for the time being. Buyers have been punished for being offside on recent surges above 2,900 USDT, with sellers controlling momentum after a rejection. ETH has been trending down since early April — and, as the month comes to a close, that trend may continue.
Altcoin technical analysis: GMT makes new all-time high
The move-to-earn governance token GMT made another all-time high in what has been a market-dominating performance in recent weeks. The token fell as low as 3 USDT last Wednesday, only to surge and break to a high of 4.18 USDT today. GMT has been a trend-following trader’s playground — with a ton of volume flowing into the token. As the move-to-earn narrative plays out, bulls will want to hope that more mainstream adoption will push the token higher.
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Source: https://www.okx.com/academy/en/btc-eth-extend-gains-from-weekly-lows-crypto-market-daily