-
CyberConnect’s crypto wallet CyberWallet hit a key milestone, crossing 900,000 wallet deployments since launch.
-
CyberWallet recently announced its integration with Ethereum Layer 2 Mantle Network.
-
CYBER price is likely to target the $7.884 level in its uptrend.
Web3 decentralized social network CyberConnect’s wallet, CyberWallet, crossed 900,000 deployments, according to an official announcement. CyberWallet’s adoption among traders in the ecosystem is likely to catalyze gains for CYBER holders.
CYBER price yielded nearly 5% losses for holders in the past week. CYBER price declined slightly, 1.31% on the daily timeframe. Technical indicators point at a likely recovery in CYBER, alongside bullish updates in the ecosystem.
Also read: ASTR price could revisit 2024 high as Astar Network prepares for zkEVM mainnet launch
CyberConnect ecosystem developments
In its update on February 5, CyberConnect shared a key milestone for the project’s wallet. The web3 wallet was launched in August 2023 and since then with consistent adoption, CyberWallet completed 900,000 deployments.
To drive CyberWallet’s adoption higher, the project recently announced an integration with an Ethereum Layer 2 network Mantle. Mantle is an Ethereum Layer 2 blockchain that scales Ethereum through a modular approach, offers low fees and high security to users.
It's a double dose of gm today
Excited to share that CyberWallet now supports @0xMantle ⭐️ pic.twitter.com/mGRjuGSFQw
— CyberWallet ✨ (@thecyberwallet) January 17, 2024
CYBER price eyes recovery, likely to rally to $7.884 target
CYBER price declined from its 2024 high of $9.616 to a low of $6.152, within a week. CYBER price has been trading range bound between the 50% Fibonacci Retracement level of the decline between January 3 and 8, and the $6.657 support level.
The green bars on the Awesome Oscillator (AO) signal increasing bullish momentum. Relative Strength Index (RSI) climbed from 43.70 on Sunday to 46.09 on Tuesday, inching closer to the neutral level of 50.
CYBER price could face resistance at the 50% Fib Retracement level at $7.884, in the event of its rally to the $8 target. A daily candlestick close below the support level at $6.657 could invalidate the bullish thesis and signal a correction in the web3 token.
CYBER/USDT 1-day chart
In such a case, CYBER price could nosedive to its January 8 low of $6.152 in its decline.
Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers. The author will not be held responsible for information that is found at the end of links posted on this page.
If not otherwise explicitly mentioned in the body of the article, at the time of writing, the author has no position in any stock mentioned in this article and no business relationship with any company mentioned. The author has not received compensation for writing this article, other than from FXStreet.
FXStreet and the author do not provide personalized recommendations. The author makes no representations as to the accuracy, completeness, or suitability of this information. FXStreet and the author will not be liable for any errors, omissions or any losses, injuries or damages arising from this information and its display or use. Errors and omissions excepted.
The author and FXStreet are not registered investment advisors and nothing in this article is intended to be investment advice.
Recommended Content
Editors’ Picks
Is Altcoin Season here as Bitcoin reaches a new all-time high?
Bitcoin reaches a new all-time high of $98,384 on Thursday, with altcoins following the suit. Reports highlight that the recent surge in altcoins was fueled by the victory of crypto-friendly candidate Donal Trump in the US presidential election.
Shanghai court confirms legal recognition of crypto ownership
A Shanghai court has confirmed that owning digital assets, including Bitcoin, is legal under Chinese law. Judge Sun Jie of the Shanghai Songjiang People’s Court shared this opinion through the WeChat account of the Shanghai High People’s Court.
BTC hits an all-time high above $97,850, inches away from the $100K mark
Bitcoin hit a new all-time high of $97,852 on Thursday, and the technical outlook suggests a possible continuation of the rally to $100,000. BTC futures have surged past the $100,000 price mark on Deribit, and Lookonchain data shows whales are accumulating.
Shiba Inu holders withdraw 1.67 trillion SHIB tokens from exchange
Shiba Inu trades slightly higher, around $0.000024, on Thursday after declining more than 5% the previous week. SHIB’s on-chain metrics project a bullish outlook as holders accumulate recent dips, and dormant wallets are on the move, all pointing to a recovery in the cards.
Bitcoin: New high of $100K or correction to $78K?
Bitcoin surged to a new all-time high of $93,265 in the first half of the week, followed by a slight decline in the latter half. Reports highlight that Bitcoin’s current level is still not overvalued and could target levels above $100,000 in the coming weeks.
Best Forex Brokers with Low Spreads
VERIFIED Low spreads are crucial for reducing trading costs. Explore top Forex brokers offering competitive spreads and high leverage. Compare options for EUR/USD, GBP/USD, USD/JPY, and Gold.