Bitcoin Price Now Facing $1.2B Sell-Wall as Arizona Governor Blocks Crypto Reserve Bill

Cryptocurrency exchange Coinbase has listed ZORA, the native token of the Zora platform.

Alongside ZORA, Coinbase included Mantle (MNT) in its listing roadmap. Following the announcements, both tokens saw modest gains.

Coinbase Lists ZORA 

Earlier, in an X (formerly Twitter) post, the exchange announced the addition of ZORA to its listing roadmap. However, a few hours later, Coinbase confirmed that the altcoin was officially listed and available for trading.

“ZORA (ZORA) is now live on Coinbase website and in the Coinbase iOS and Android apps with the Experimental label. Coinbase customers can log in to buy, sell, convert, send, receive or store these assets,” the April 25 announcement read.

The Experimental Label serves as a cautionary indicator for traders. It marks certain assets that exhibit lower trading volume or are new to Coinbase.

Due to their lower market activity, these assets are prone to increased price volatility, liquidity issues, and the potential for order cancellations. This labeling system ensures users are aware of these risks, encouraging a more cautious approach to trading these less-established assets.

Notably, ZORA is just two days old. It was launched via an airdrop on April 23 and listed on Binance Alpha on the same day. Moreover, Bybit, Bitget, KuCoin, Gate, MEXC, and Bitrue have also added support for the token.

The Coinbase listing further solidifies its growing presence in the crypto market. According to BeInCrypto data, the token’s price appreciated by 2.3% after the news. At press time, ZORA was trading at $0.02.

The development comes during heightened interest in the platform. Zora allows users to tokenize their content, a trend widely promoted by Base founder Jesse Pollak. 

In fact, last week, Base turned its X post titled “Base is for everyone” into a content coin. However, the move attracted significant backlash, as the price plummeted 99% just four hours after launch.

Despite this, Pollak has been vocal in his support for content coins, reiterating his stance recently in an exclusive interview with BeInCrypto.

“Most photos posted on social media are just photos, but occasionally something will really take off and become a viral meme. Similarly, with content coins, most of them are just pieces of content that people should post without expectation, but big ones have the potential to turn into memes, and the free market is deciding on the value of each piece of content,” Pollak told BeInCrypto.

MNT Joins Coinbase’s Listing Roadmap 

Meanwhile, Coinbase also added MNT to its listing roadmap on the same day. 

“The launch of trading for these assets is contingent on market-making support, and sufficient technical infrastructure. We will announce the launch of trading separately once these conditions have been met,” Coinbase noted.

Like ZORA, MNT’s price also benefited from the news. Over the past day, the token’s value has increased by 6.5%. At the time of writing, it was trading at $0.74.

While the addition marks a positive development, it remains to be seen whether or when the asset will be listed. For now, Coinbase’s latest moves signal a continued effort to bridge innovative blockchain projects with mainstream investors.

The post ZORA Token Launches on Coinbase as Content Coin Trend Gains Momentum appeared first on BeInCrypto.

SafeMoon’s price has climbed over 25% in the past week amid the broader market volatility. This double-digit price gain has been fueled by the uptick in the token’s demand following the project’s migration from BNB Chain to Solana.

However, profit-taking and increased selling pressure are now threatening to erase some of SFM’s recent gains. This analysis provides the details. 

SafeMoon Battles Growing Sell-Offs

An assessment of the SFM/USD one-day chart highlights the growing selling pressure within SFM’s spot markets. A notable indicator of this trend is the token’s negative Balance of Power (BoP), which is at  -0.96 at press time.

An asset’s BoP indicator compares buyers’ and sellers’ strengths by analyzing price movements within a given period. When its value is negative like this, it indicates that sellers have more control, meaning downward pressure is stronger, and the asset is likely experiencing a bearish trend. 

This suggests weakening bullish momentum among SFM holders and hints at declines if selling pressure continues.

Furthermore, SFM’s price has dropped 8% over the past 24 hours, causing the altcoin to trade near its 20-day exponential moving average (EMA).

This moving average measures an asset’s average price over the past 20 trading days, giving more weight to recent prices to identify short-term trends.

As with SFM, when an asset’s price is poised to break below the 20-day EMA, it signals increased selling pressure. It is a sign of weakening bullish momentum and a shift toward a bearish trend. 

SFM Finds Key Support at $0.000061

A successful breach of the dynamic support offered by SafeMoon’s 20-day EMA at $0.000061 would strengthen the bearish trend. In this scenario, the altcoin’s price could plummet further to $0.000047.

However, a spike in new demand would invalidate this bearish outlook. If spot inflows rally, it could drive SFM’s price above the resistance at $0.000068 toward its multi-year high at $0.000011.

The post SafeMoon (SFM) Faces Post-Migration Challenges as Sellers Take Over appeared first on BeInCrypto.