Avalanche (AVAX) bulls should brace themselves for impact led by a growing divergence between severalkey indicators on the daily-timeframe chart. AVAX price chart paints bearish divergence The daily AVAX chart shows a classic bearish divergence between its price and relative strength index (RSI), a momentum oscillator forming since Jan. 11. In other words, the price of AVAX has been making higher highs since the said date. But, on the other hand, the coin's daily RSI has been forming lower highs. This divergence suggest a slowdown in the momentum of the AVAX/USD pair, which may lead to a price reversal. In …

Avalanche (AVAX) came into the spotlight early at the beginning of 2023 by adding its blockchain support to Amazon Web Services (AWS) cloud. However, empirical and on-chain analysis suggests that Avalanche’s price surge is likely due to a broader cryptocurrency market pump which will likely end with the rest of the market. Is Avalanche’s Amazon news exaggerated? While integration with the world’s largest blockchain service is a positive step for Avalanche, the hype around its implications might be exaggerated. The evidence lies in a similar move that Avalanche’s team made in December 2022. Avalanche’s team established a deal with Alibaba’s …

The Amazon Web Services (AWS)-Avalanche “cooperation,” as it was carefully described last week, should almost immediately make it easy for developers to establish nodes on the Avalanche blockchain, including via “one-click node deployment.” Eventually, too, it might make it simpler for everyday businesses — i.e., non-crypto-related enterprises — and even individuals to establish their own subnets like smaller, private, layer-2 blockchains. But perhaps the outstanding message from the Jan. 11 announcement is that the blockchain revolution isn’t just about cryptocurrencies. It’s also about things as prosaic as storing documents more securely and sensibly so they can be quickly retrieved during …

Avalanche (AVAX) has opened 2023 with a bang, rising nearly 55% in the first two weeks. And now, a mix of technical and fundamental indicators hints that the token will keep rallying into March. AVAX price breakout underway The AVAX/USD pair appears to have been forming a falling wedge pattern since May 2022 and has now entered the breakout stage of this pattern. A falling wedge forms when the price trends lower inside a range defined by two converging, descending trendlines. The pattern resolves after the price breaks out of its range to the upside and, as a rule of …

NFTs and soulbound tokens define Web3 filmmaking, says director With Web3 making its way to various industries like filmmaking, one movie director believes that tools like NFTs and soulbound tokens — digital identity tokens representing a person or entity — can serve cinema in various ways. In an interview with Cointelegraph, Stephen Fung, director of the Web3 film project Departed Apes, shared his perspective on integrating Web3 tools into cinema. According to Fung, there are many potential intersections between Web3 and film, such as fan engagement in movies shown in the metaverse and film characters coming from the Web3 space. …

The capacity to digitally authenticate almost everything, and the possibility of monetizing in ways nobody couldn't even imagine before. These are some of the ways in which the documentary series "NFTMe" introduces nonfungible tokens (NFTs). The show features artists, collectors, and industry professionals across the world sharing their experiences with NFTs and how the merger between art and technology has positively affected their daily lives. In six episodes of 30 minutes each, NFTMe introduces 50 pioneers in the NFT space from four continents, including American singer Susaye Green (of The Supremes), Queen Diambi (Queen of Democratic Republic of the Congo), …

Authorities across the globe are fighting against time to bring justice to the millions of people impacted by the financial frauds committed by FTX CEO Sam Bankman-Fried. As part of the ongoing investigations, attorneys representing the Securities Commission of the Bahamas seek access to FTX’s database with international customer information. The Bahamian attorneys filed an emergency motion with a Delaware bankruptcy judge requesting access to FTX’s customer database to aid their ongoing investigations. The motion highlighted previous failed attempts to access the defunct crypto exchange’s database. As a result, the lawyers claimed that FTX employees and counsel prevented authorities from …

While censorship resistance and privacy are not the same thing, they are closely intertwined. When the government or another entity, such as an advertiser, can track everything you do, they can also sanction you for bad behavior. Instead of working backward to try and cover up seismic cracks in Web2 with duct tape, it may be time to move full speed ahead on ensuring these same mistakes don’t happen in Web3. By being proactive, the purported internet of the future could actually protect our private information and prevent overzealous or oppressive censorship before these issues become unmanageable. Using crypto to …

What are the pros and cons of accepting Bitcoin payments? Accepting Bitcoin payments is advantageous due to lower fees than credit and debit cards, expansion of customer base and real-time bank balances. However, risks like volatility and cybercrime may undermine these benefits. Cryptocurrency payments help save excessive credit and debit card processing fees as they are decentralized and do not need intermediaries to verify the transaction. Moreover, merchants do not incur overseas currency exchange changes if payments are made in BTC or other cryptocurrencies. High transaction speed is another benefit of accepting Bitcoin payments, allowing businesses to receive payments in …

Bitcoin (BTC) is a dynamic monetary asset with the potential of being both — a commodity and a currency. For instance, the Securities and Exchange Commission (SEC) classified BTC as a commodity, whereas El Salvador made Bitcoin a legal tender in 2021. So, does this make BTC a store of value or a medium of exchange? It can do both — On one hand, BTC can be added to treasuries as an inflationary hedge. On the other hand, it could also serve the retail purpose of paying for routine expenses. Almost over a decade ago, the first person to utilize …

An eight-episode limited series exploring the unraveling and scandals behind sunken crypto exchange FTX and its leadership is slated to soon begin production. The series has been purchased by technology conglomerate Amazon, and will likely air on Amazon’s video streaming service Prime. It’s understood to be based on “insider reporting” from journalists covering FTX and its founder Sam Bankman-Fried according to a Nov. 23 report from the entertainment magazine Variety. Brothers Joe and Anthony Russo, famed for directing Avengers: Endgame and multiple other Marvel-owned movies are reported to have sold the idea to Amazon and are slated to direct the …

For decades, banks and insurance firms employed the same mostly static but highly profitable and centralized business models. Also for decades, Big Tech firms such as Facebook, Microsoft, Amazon, Apple and Google have monopolized user data for their profit. However, blockchain projects could significantly challenge Big Tech’s grip on user data. In 2015, the future of money was at the forefront of financial experts’ minds at the World Economic Forum in Davos. There, they started to seriously focus on the challenges presented by the rise of Bitcoin (BTC), digital assets and fintech. The world of finance began to realize that …