On January 11, Bitcoin (BTC), the world’s largest cryptocurrency, continues to rise, but faces strong resistance at $17,500. Likewise. Ethereum (ETH) price is consolidating in a narrow range from $1,320 to $1,345.
Bitcoin was chosen as the dirtiest cryptocurrency of 2022
Bitcoin was the world’s most polluting cryptocurrency in 2022, emitting nearly one ton of carbon dioxide (CO2) per transaction, according to a survey by a Luxembourg-based currency and education website. According to the analysis, the Bitcoin network showed a significant increase in CO2 emissions last year, after reducing pollution in 2021.
In 2022, the total CO2 emissions from the Bitcoin network amounted to almost 86.3 million tons. According to the trading platform, if we planted 431.6 million trees per year, we could offset the annual emissions of Bitcoin.
The trend of bitcoin miners switching to greener energy sources was overlooked in the study. The Bitcoin Mining Council predicts that by the end of the third quarter of 2022, the share of renewable energy used in bitcoin mining will increase from 58.6% to 59.4% compared to the previous year.
Bitcoin is currently trading at $17,500 with a 24-hour trading volume of $16 billion. Bitcoin experienced a slight negative pullback after failing to break the $17,500 resistance level. It is now gathering immediate support near $17,200.
A successful breakout from the $17,500 level could push the price of Bitcoin to the next $17,800 resistance level. During the 4-hour period, Bitcoin formed a doji candle, indicating investor indecision. Perhaps they are waiting for a compelling reason to determine the next move in the market.
On the bearish side, the $17,200 level is expected to act as an immediate support, a negative break of this point extends the downtrend to the next $16,800 or $16,650 support level.
The current price of Ethereum is $1,330, with a 24-hour trading volume of $5.6 billion. The ETH/USD pair faces significant resistance around the $1,344 level in the 4-hour period, which is extended by a double top pattern.
If the $1345 level is breached, the ETH price may move to the next $1370 resistance zone. Closes of doji and spinning ball candles above the 1,315 trading level support the possibility of a significant upside.
On the downside, ETH price may find support around $1,315, and a break below this level may allow for further selling at $1,275. Today’s bullish trend is dominant, so look for buying opportunities.
Alternative coins with massive growth potential
Given the recent downturn in the cryptocurrency market, several altcoins are making news.
The FightOut (FGHT) platform works like a personal trainer, except training time is paid for in advance with the FGHT token. All activities are tracked and can be used to improve metaverse avatar metrics.
The FGHT presale is going well, with around $2.80 million raised so far. The current selling price of 60.06 FGHT per 1 USD (FGHT can be purchased with ETH or USDT) is expected to rise as the sale progresses.
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Dash 2 Trade (D2T)
The developers of the Dash 2 Trading ecosystem have announced that the D2T token, the platform’s native cryptocurrency, has successfully raised $15 million. The pre-sale of the digital asset started in late 2022 and in recent months it has become one of the best performing new coins on the market. It looks like D2T is ready to move on to the next phase after reaching its pre-sale goal.
The creators of Dash 2 Trading have shown great foresight by securing listings on multiple exchanges before the coin’s launch. On January 11 at 10am UTC, the cryptocurrency will be available on BitMart, Gate.io, LBank and Uniswap.
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For the first time, C+Charge is working on a blockchain-based EV payments program that will give electric car drivers carbon credits every time they charge. C+Charge envisions this as a way to level the playing field in the carbon credit market, which has traditionally been dominated by a few large corporations.
According to forecasters, the project has potential because it will benefit from the significant development expected in the carbon credit market. Coherent Market Insights estimates that the market will be worth more than $2.4 trillion by 2027, up from about $211.5 billion in 2019.
The potential to earn carbon credits for C+Charge is another incentive to accelerate the already rapid transition to EVs. The voluntary credit market (VCM) is expected to expand to $100 billion by 2030, and analysts believe startups like C+Charge will play a significant role in that expansion. So far, the presale has raised $244,700 so far.