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Top cryptocurrencies of the week: BTC, BNB & UNI

Bitcoin has made a strong comeback in the month of July and is on track for its best monthly gains since October 2021. The sharp recovery in Bitcoin and several altcoins has pushed the Crypto Fear and Greed Index to 42/100 on July 30th

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Bitcoin has made a strong comeback in the month of July and is on track for its best monthly gains since October 2021. The sharp recovery in Bitcoin and several altcoins has pushed the Crypto Fear and Greed Index to 42/100 on July 30th

BTC

Attempts by the bulls to sustain the price above $24,276 have failed, indicating that the bears are defending the level with strength. However, a minor positive is that the bulls have not surrendered ground to the bears. This shows that the bulls are not booking profits in a hurry as they expect a break above the overhead resistance. If the price breaks and closes above $24,276, BTC could pick up force and rally toward $28,171.

BNB

Binance Coin broke above the downtrend line on July 28, indicating a potential trend change. The up-move is facing resistance near the psychological level of $300, but a positive sign is that the buyers have not given up much ground. This suggests that the bulls are not hurrying to book profits. The upsloping 20-day EMA of $263 and the RSI in the positive territory indicate that the path of least resistance is to the upside. If buyers drive the price above $300, BNB could resume its uptrend toward the overhead resistance at $350.

UNI

Uniswap rebounded off the breakout level of $6.08 on July 26, indicating strong buying on dips. The up-move reached near the psychological resistance at $10 on July 28 where the bears are mounting a strong defence. The upsloping moving averages and the RSI in the positive territory indicate an advantage to buyers. If the price rebounds off $8.11, it will suggest that buyers are trying to flip this level into support.

The views and opinions expressed here are solely those of the author and do not necessarily reflect the views of CryptoNews. Every investment and trading move involves risk ,the reader should conduct their own research when making a decision.

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7-Eleven South Korea to accept CBDC payments in national pilot program

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7-Eleven is set to participate in the testing phase of a central bank digital currency (CBDC) initiative, running from April to June. The retail giant’s involvement highlights the growing push for digital currency integration in everyday transactions.

The pilot program will assess the feasibility of CBDC payments at 7-Eleven stores, allowing customers to make purchases using the digital currency. The initiative is part of a broader effort to explore the real-world application of CBDCs in retail environments, potentially shaping future payment systems.

As central banks worldwide accelerate their digital currency research, private sector collaboration is seen as crucial for widespread adoption. If successful, 7-Eleven’s participation could pave the way for broader CBDC usage across retail and commercial sectors.

The outcome of the testing phase will provide valuable insights into consumer adoption, transaction efficiency, and potential regulatory considerations, influencing how CBDCs are integrated into mainstream financial systems.

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SEC and Gemini ask to pause lawsuit to explore ‘potential resolution’

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The U.S. Securities and Exchange Commission (SEC) and crypto exchange Gemini have agreed to pause legal proceedings as both sides explore a potential resolution to their ongoing lawsuit. The move signals a possible settlement in the high-profile case, which centers around Gemini’s now-defunct Earn program.

The SEC initially sued Gemini, alleging that the Earn program—designed to offer users yield on crypto deposits—operated as an unregistered securities offering. Gemini has pushed back against the claims, arguing that its operations complied with regulatory standards.

By pausing litigation, both parties may be looking for a compromise that could set a precedent for crypto lending products in the U.S. A settlement could also provide regulatory clarity for similar platforms navigating SEC scrutiny.

While the outcome remains uncertain, the crypto industry is closely watching the case, as its resolution could impact future enforcement actions and the broader regulatory approach toward digital asset lending services.

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GameStop finishes $1.5B raise to add Bitcoin to its balance sheet

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GameStop has successfully completed a debt offering, raising capital that may be used to acquire Bitcoin, signaling the company’s deeper foray into digital assets. The move aligns with its broader strategy to diversify beyond traditional retail operations and into emerging financial technologies.

While GameStop has not confirmed the exact allocation of the funds, market speculation suggests that a portion could be used to buy Bitcoin, following in the footsteps of companies like MicroStrategy. The potential investment would reinforce GameStop’s ongoing pivot toward blockchain and digital assets, an effort that began with its NFT marketplace and crypto-related initiatives.

Analysts see this development as part of a growing trend of corporations exploring Bitcoin as a reserve asset amid concerns over inflation and monetary policy. If GameStop proceeds with the acquisition, it could further validate Bitcoin’s role as a strategic investment for publicly traded companies.

The company’s board will ultimately decide how the newly raised capital is deployed. Investors and the broader crypto market are watching closely for any official announcements regarding GameStop’s Bitcoin strategy.

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