BTC and altcoin prices fell ahead of an extended weekend in traditional markets.
The total cryptocurrency market is down over 1.5% today as BTC and ETH fell by a similar amount. Of the few major cryptocurrencies in the green, NEAR is continuing its strength — up 2.5%.
DeFi Digest: MoonPay raises $87 million from over 60 celebrities and organizations
MoonPay, a crypto-payments infrastructure company, announced yesterday that it raised $87 million from various celebrities, public figures and organizations. The raise joins a $555 million funding round that was led by Tiger Global Management — which valued the startup at $3.4 billion.
Some of the celebrities who invested in the round include Justin Bieber, Maria Sharapova and Ashton Kutcher.
Japanese video game developer Bandai Namco said earlier this week that it plans on opening a venture arm within the company to invest in metaverse and blockchain startups. The fund will scale from 1 billion yen in its first year to 3 billion yen by its third year. The company aims to establish its brand and intellectual property across different projects and metaverses.
The developer behind franchises like Elden Ring and Soulcalibur sees an opportunity to grow its brand’s presence in new blockchain-focused areas, and the fund’s aim is to invest in startups during their pre-seed to late stages. Though the metaverse is a focus, investment considerations will also include virtual reality, augmented reality and artificial intelligence.
Top altcoin gainers and losers: KNC, ZIL squeeze higher
- KNC/USDT +20.91%
- ZIL/USDT +8.58%
- SNX/USDT +5.18%
- APE/USDT -5.60%
- ANC/USDT -6.47%
- METIS/USDT -8.15%
KNC and ZIL have outperformed the overall market recently and continue to add to their previous highs.
Meanwhile, APE sold off a bit after a dominant early week performance.
BTC technical analysis: Falling lower
After hitting prices as low as 39,100 USDT earlier this week, BTC jumped higher yesterday. However, some of these gains were lost overnight as the coin now sits at around 40,500 USDT.
BTC will want to hold this general level to push back above previous resistance. Otherwise, more downside is expected — especially as traditional markets may risk-off going into the long weekend.
ETH technical analysis: Seeing red
ETH has experienced some selling in the past 24 hours, though 3,000 USDT still remains a level of viable support. The coin sits at a key level with bulls piling in for now to save this area. If this mark is lost, sellers should continue to take control — and testing recent lows would look imminent.
Altcoin technical analysis: SNX adds to bounce
SNX has been a favorable asset to buyers as of late. Currently, the altcoin is one of the few in the green today after bouncing from lows put in on Tuesday. For now, SNX remains bullish — as long as the rest of the market holds up. However, traders have been bidding strength recently, so the token may see continued upside.
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Source: https://www.okx.com/academy/en/crypto-markets-down-heading-into-long-weekend-crypto-market-daily