April 8 Daily report: BTC bounces at a key support level, Defi product suite to Avalanche, New Kind of Network (NKN) gains 340%, Uber-style surge pricing for Defi token swaps and NFT marketplace for Indian artists

April 8 Daily report: BTC bounces at a key support level, Defi product suite to Avalanche, New Kind of Network (NKN) gains 340%, Uber-style surge pricing for Defi token swaps and NFT marketplace for Indian artists

Bitcoin bulls return after BTC bounces at a key support level

Bitcoin price appears to be gaining bullish momentum after BTC bounced off the lower Bollinger Band. The market-wide sell-off led to $1.4 billion in liquidations and some analysts suggested that this could be the final sweep out of overleveraged long traders before Bitcoin can make a run higher to the $70,000 level. 

AllianceBlock brings Defi product suite to Avalanche

AllianceBlock, a decentralized layer-2 solution bridging traditional finance and Defi, has announced major product integration with Avalanche, the up-and-coming “Internet of Finance” protocol. Once completed, the product integration will allow users to access AllianceBlock’s Defi Investment Terminal, P2P financial services, nonfungible token capabilities and KYC solutions directly on Avalanche. 

New Kind of Network (NKN) gains 340% to become ‘the biggest blockchain in the world’

NKN price rallied to a new all-time high as the number of full consensus nodes on the network surpassed 67,000. New Kind of Network (NKN) has emerged over the past month as one of these surprise gainers, increasing 1,400% from a low of $0.052 on March 8 to a new all-time high of $0.779 on April 6. Some of the effects of Bitcoin bulls return can be seen here as well.

Kyber Network introduces Uber-style surge pricing for Defi token swaps

Decentralized exchange Kyber has launched a Dynamic Market Maker, or DMM, in what it claims is a world first. The new platform, which was announced on April 5, has been designed to optimize fees and enable extremely high capital efficiency for liquidity providers. One of the major differences between Kyber’s new platform and regular Automated Market Makers, or AMMs, is the fee generation system.

NFT marketplace for Indian artists

Indian artists can place their digital assets including art pieces, audio files, videos, and even tweets, for auction over the blockchain-based NFT marketplace to earn royalty thereafter. In the past few months, NFTs have garnered significant attention from around the world. Recently, Twitter’s Jack Dorsey sold his first tweet for $2.9 million in an NFT-based transaction. Recently Bitcoin Bulls Return also encouraging crypto traders to invest in the crypto market also in the NFT’s.

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