Crypto Updates Nov 20, 2021: Top Crypto News for today

Bitcoin price went down by 5.34% yesterday with a total downtrend of 18% since its all-time high of $69K. The current price at which Bitcoin is trading is nearly $57K. Analysts believe that crossing this resistance zone is very important for Bitcoin to continue its bullish streak. Read what technical analysts have to say about Bitcoin and its price action below. 

Kineko, a sports betting and prediction protocol with real-time compensation have officially migrated to Solana. The DApp started its functioning on the Ethereum network. However, given its future plans to scale up, it has finally chosen Solana which has helped it gain quite attention in the global markets. Read more on this below. 

After the announcement of Metaverse by Mark Zukerberg, the entire crypto community and the world, in general, is awaiting new dawn of technology. Kucoin, Asia’s one of the largest crypto exchanges, has decided to become one of the firsts to jump into the Metaverse bandwagon by creating an incubating cell of $100 million dollars to fund early projects on metaverse. These can be gaming protocols, DApps, and other defi projects. Read what Kucoin has to offer below. 

Before we start exploring the latest topics around the crypto space, let’s glance at the top gainers and losers for the week. 

Crypto Market Trend  November 20, 2021 

Top 3 Crypto Gainers 

*Prices are latest by 20th November. 10:20 AM*

Top 3 Crypto Losers 

*Prices are latest by 20th November. 10:20 AM*

Crypto Updates November 20, 2021 

Bitcoin price analysts say that the $58941 level is crucial for BTC to continue its Bull run

Bitcoin price went down by 5.34% in the past 24 hrs taking it to the mark of $56762. Although the value of Bitcoin has been decreasing, the trading volume of Bitcoin has been constantly increasing. 

The bearish signals that BTC currently shows have made analysts wary of the likely price correction the cryptocurrency is to follow. The price of Bitcoin has dropped by 18.25% from its all-time high of $69K and the current price is around the $57K mark. The price action has also created a descending parallel channel on the four-hour frame with BTC’s price being constantly rejected at the middle boundary of the channel. 

Read more on this here and learn where Bitcoin is heading towards. 

Wondering whether Bitcoin will hit the $100000 mark this year? We have got it answered. 

Source: CoinGape.com

Kineko migrates to Solana following $41Million In volume Turnover

A high-throughput sports betting and prediction market protocol, Kineko has officially signed its deal to migrate to Solana. Kineko gained quite momentum after its inception on the Ethereum network and was the leader and pioneer of the crypto betting space. The Kineko team evaluated the efficacy of Ethereum to help the DApp scale up both for the company and its users. After all the reasoning and considerations, it has finally decided to migrate to Solana.

Read what this migration will mean for Kineko and the crypto betting space here.

Source: Crypto daily

Kucoin Labs launched a $100 Million Investment Fund for Metaverse 

The investment and the investigative arm of Kucoin, Kucoin labs have launched a $100 million fund to incubate early projects related to Metaverse. These projects might include NFT platforms, blockchain gaming protocols, and other DeFi projects. Kucoin is one of the leading exchanges in Asia and is one of the first to jump on the metaverse bandwagon. 

Read what Kucoin Labs have to offer to the early metaverse projects and what it means for the crypto space. Read here.