Business Cryptocurrency News

Binance CEO Richard Teng Replies to Traditional Banking's Crypto Criticism

noreply@blogger.com (VisaTK) — Sun, 10 Dec 2023 06:58:00 +0000

The CEO of Binance responds to conventional banking's criticism of cryptocurrencies with insights supported by statistics.
Richard Teng emphasizes the $3.2 trillion in criminal operations using conventional cash over cryptocurrency.
The ongoing creative destruction in the crypto industry disproves the notion of inherent fraud.

In a daring move, Richard Teng, the new CEO of Binance, challenges the myth that conventional banks are pushing, which holds that cryptocurrencies are full of criminal activity. In a recent article, Teng refutes this claim by citing the research done by Dr. Andrzej Gwizdalski, who compiled information from cryptoanalysis, the World Economic Forum, and the United Nations.

Cryptocurrencies vs. Fiat: Rethinking the Illicit Activity Narrative

Teng claims that conventional fiat currencies like the USD are connected to an estimated $3.2 trillion in illicit operations. This is an astounding amount that is more than 100 times larger than the $20 billion associated with cryptocurrencies. The information highlights the need to reconsider the widely held belief that cryptocurrencies are mostly connected to illegal financial activity.

Context Matters: Less Than 1% of Illicit Actions Linked to Crypto

According to Gwizdalski's estimate, the yearly illicit actions inside the conventional fiat monetary system amount to $3.2 trillion, of which less than 1% are attributable to crypto crime. Teng puts the current litigation between FTX and Sam Bankman-Fried, which often makes headlines, in perspective and stresses the need to take the whole picture into account.

Cryptocurrency vs. Fiat: Teng's Perspective on Money Laundering Scale

The World Economic Forum and the United Nations have reported on the worldwide scope of money laundering and corruption related to conventional fiat money, which offers a convincing context for the relatively low numbers related to crypto criminality. Teng contends that since every transaction is openly documented, utilizing cryptocurrency for illicit activities is dangerous by nature.

Cryptocurrency Evolution: Teng's Call for Legislative Understanding

Teng exhorts legislators to be knowledgeable and deal with legitimate problems in established financial institutions while the cryptocurrency sector navigates a phase of creative destruction. He highlights that despite continuous advancements in cryptocurrency, blockchain technology, and smart contracts, the fundamental benefits of blockchain and Web3 still stand.

Cryptocurrency Realities: Teng Debunks the Dishonesty Myth

Teng comes to the conclusion that the idea that these digital systems are fundamentally dishonest is unfounded by anything in the present cryptographic creative destruction. He urges the use of technology exploration and clear-eyed strategic thinking to dispel myths and unfavorable attitudes about cryptocurrencies.

Ethereum's Potential Reignites Hope Despite Price Drop

noreply@blogger.com (VisaTK) — Sat, 09 Dec 2023 05:24:00 +0000

The present downward trend of Ethereum relative to Bitcoin points to near-term underperformance
.The weak performance of the NFT and DeFi sectors has an impact on Ethereum's market catalysts.
Within Ethereum's ecosystem, ongoing development activity suggests that there may be a future upswing.

In relation to Bitcoin (BTC), Ethereum (ETH) is navigating a negative trend. A crucial measure of Ethereum's status, the ETH/BTC pair, is showing a downward trend, indicating a period of temporary underperformance for the second-largest cryptocurrency.

Ethereum's Struggle: Moving Averages Signal Downward Trend

The 50-day and 200-day moving averages on the charts, which show a clear downward trend, suggest that Ethereum is having difficulty keeping up with Bitcoin. The dismal performance of major market drivers in the Ethereum ecosystem, especially in the non-fungible token (NFT) and decentralized finance (DeFi) sectors, is blamed for the muted performance. Due to its recent decline, Ethereum's price is now at a disadvantage compared to Bitcoin, as it isn't receiving the catalytic push it needs.

Unveiling Ethereum's Narrative: Development Amid Market Pressure

Beneath this ostensibly depressing exterior, however, is a story of ongoing development initiatives inside the Ethereum community. Although there aren't many direct market drivers at the moment, Ethereum is still actively being developed. It's possible that this persistent labor is planting the seeds for a future comeback.

Trading Insights: ETH/BTC Chart as a Key Indicator

An essential compass for traders who keep a close eye on market emotion and volatility is the ETH/BTC chart. A falling ratio often indicates a risk-averse environment where investors run to Bitcoin for its security. On the other hand, a growing ratio would suggest a more positive view, which might be advantageous for Ethereum's growth prospects.

Decisive Triggers: Ethereum's Path to Recovery Examined

The comeback of Ethereum is contingent upon critical signs. The DeFi and NFT markets coming back to life or the network revealing fresh improvements and advances might act as triggers, guiding Ethereum toward stability or possibly a reversal of its present downward trajectory.

The Rise in Cardano Trading Volume and ADA's Future

noreply@blogger.com (VisaTK) — Thu, 07 Dec 2023 05:13:00 +0000

With a market valuation of .42 billion, ADA has cemented its place as the leading cryptocurrency worldwide
With a more than 5% increase in token price, Cardano's trading volume has reached 0 million
The notable expansion of ADA prompts conjecture and an astute study of the industry

With.42 billion in market cap, ADA is the largest cryptocurrency

The native cryptocurrency of Cardano, ADA, has surged spectacularly in the market, gaining an incredible billion in market value in a single day. As a result of its incredible rise, ADA now has a market capitalization of an astounding .42 billion, making it the eighth-largest cryptocurrency in the world per CoinMarketCap.

Trading volume for Cardano hit 0 million after a 5% token price hike

The main cause of the sharp price increase in ADA is its increased market value. From its daily low, the token saw a 5% gain, peaking at From its daily low, the token saw a 5% gain, peaking at $0.434..434.

The global cryptocurrency community has taken notice of this price surge, which has also led to a sharp rise in ADA trading volume. Cardano's trade volume increased by more than 100% in the last day, hitting a staggering 0 million.

Investors often become speculative when they see established cryptocurrencies like Cardano grow suddenly. Some community members speculate that a market downturn may come before we see such a surge in altcoins like Polkadot and Cardano. The precision of this forecast is still up in the air, however, as market watchers keep a careful eye out for any indications of prospective changes.

ADA's growth inspires speculation and industry analysis

As of right now, ADA is seeing a spike in interest from investors, which is driving up prices and increasing trading volume. The present price levels of Cardano may eventually be seen as only the beginning of additional growth, as long as it keeps up its optimistic trajectory.

In terms of the future, it seems like the whole cryptocurrency market—and ADA in particular—is set to grow much more. Cardano's increasing market capitalization and trading volume are not only solidifying its position in the cryptocurrency space but also paving the way for future achievements and maybe even greater values.

Solana leads DeFi growth: $70 in sight?

noreply@blogger.com (‪VisaTK) — Wed, 06 Dec 2023 01:48:00 +0000

Solana's TVL saw a 56% increase, securing more than $650 million
The SOL coin anticipates a $70 breakout after a 500% increase
Airdrops are the driving force behind predicted SOL growth

Solana's TVL saw a 56% increase, securing more than $650 million

The surge in Total Value Locked (TVL) inside Solana's (SOL) decentralized finance (DeFi) ecosystem has been amazing. Solana has locked in more than $650 million worth of assets across its DeFi applications, reflecting an incredible 56% increase in TVL over the last month and a noteworthy milestone.

The increase in Solana's TVL indicates that investors are paying the network more and more attention. With lower costs and faster transaction speeds than other well-known blockchains, Solana is more appealing to users than Ethereum, which is why many see it as a potentially serious competitor.

The SOL coin anticipates a $70 breakout after a 500% increase

Further highlighting the network's strength is the explosive increase of SOL, the native token of Solana. With a market valuation of $25.6 billion, the SOL token has more than quadrupled in value since the year's beginning, soaring to the sixth position among cryptocurrencies. Notwithstanding the fact that SOL has recently traded somewhat below its annual high of $67.63, experts and market watchers are still upbeat and believe SOL may soon break over $70.

Airdrops are the driving force behind predicted SOL growth

The expected catalysts in the Solana ecosystem, especially the current airdrop season with major protocols like Pyth and Jupiter, are feeding this optimistic feeling. The SOL token may expand and appreciate even more as a result of these airdrops, according to experts and market watchers, maybe pushing it above the $70 threshold.

Tag : Crypto market cryptocurrency SOL SOL Price Solana Solana Price

Bitcoin Breakthrough Past $42K Sets Up $50,000 Target

noreply@blogger.com (‪VisaTK) — Tue, 05 Dec 2023 00:00:00 +0000

The price of Bitcoin crosses $42,000, indicating a robust bull run and a favorable market trend.
BTC seems to be continuing its upward trajectory, as seen by its bullish candles and growing purchasing pressure
The consolidation pattern of Bitcoin suggests that it may grow at a parabolic rate in the next months
Bitcoin Bulls Charge: Surging Beyond $42,000
Bitcoin's Bull Run Anticipation: Preparing for the Second Halving
Enduring Momentum: Bitcoin's Continued Success in Crypto

Bitcoin Bulls Charge: Surging Beyond $42,000

The price of bitcoin has surged beyond $42,000, signaling the beginning of a strong bull run. This year, the cryptocurrency markets are rebounding from previous failures and have seen a price increase of over 100% for Bitcoin. The network's increasing power and stability are shown by the record-breaking Bitcoin hash rate, which supports this upswing even more.

A sequence of bullish candles and increasing buying pressure have characterised the current price climb. This pattern implies that Bitcoin may continue to rise in the coming days.

The cryptocurrency's recent performance is consistent with its earlier positive trends, in which a period of consolidation was followed by a robust rising trend. In the past, every one of these stages resulted in a 4-to 10-month parabolic increase in the price of Bitcoin.

Bitcoin's Bull Run Anticipation: Preparing for the Second Halving

According to certain market forecasts, Bitcoin may start a strong bull run before its second halving occurs. The volume indicator, which has surged and into the positive range for the first time since early 2022, supports this prognosis.

Now that Bitcoin has overcome the prior resistance level and established a new benchmark at $42K, it is aiming for its next objective, which is about $50,000. This trend demonstrates the durability and growth potential of cryptocurrencies in the face of market turbulence.

Enduring Momentum: Bitcoin's Continued Success in Crypto

Bitcoin's future in the cryptocurrency space is still bright since it keeps proving that it can adjust, bounce back, and break records. With its present momentum and the increasing interest from investors and enthusiasts, Bitcoin is well-positioned to continue becoming the most popular digital currency and may soon achieve even greater heights.

XRP Charts Give Hope Possible Parabolic Rise Is Coming

noreply@blogger.com (VisaTK) — Sat, 02 Dec 2023 20:22:00 +0000

A cryptocurrency analyst predicts a possible parabolic surge for XRP based on positive indicators in the MACD and trendline breakout
Historical data indicates that XRP surged by 650 times after a similar situation in 2017, which came after a four-year slump was broken.
Analyst Cryptoes notices a cup and handle pattern in the short-term chart of XRP, indicating a potential continuation of the upward trend
XRP Analysis: Unveiling the Crucial Multi-Year Trendline
Riding the Waves: MACD and XRP's Future
Intriguing Charts: XRP's Potential Breakout and Cup & Handle Pattern

According to research by cryptocurrency researchers, XRP may soon break out of a six-year slump, indicating the potential for a big parabolic rise.

XRP Analysis: Unveiling the Crucial Multi-Year Trendline

Particular attention is placed within the analysis undertaken on the convergence of two essential elements. First, attention has been drawn to the multi-year declining trendline that has been visible in the XRP monthly chart. The key to a possible change in XRP's trajectory lies in this six-year-old trendline.

Riding the Waves: MACD and XRP's Future

The Moving Average Convergence/Divergence (MACD) indicator is the second critical component that is being examined. Its historical importance has been observed by analysts, particularly when it surpasses the 0 barrier. This incident has often signaled the start of significant price rises for XRP in the past.

It's interesting to note that throughout XRP's history, these two occurrences have only ever combined once. This unique event came before an incredible 650x increase in XRP's value, which culminated in an all-time high of.31.

Intriguing Charts: XRP's Potential Breakout and Cup & Handle Pattern

Intrigue has been increased by the potential breakout from the extended downtrend as well as the short-term Cup and Handle pattern formation. This pattern usually indicates that an upward trend will continue after a period of consolidation.

Since XRP is now trading near the Since XRP is now trading near the $0.6136 mark, a close above the resistance level at $0.64 would trigger the anticipated breakthrough..6136 mark, a close above the resistance level at Since XRP is now trading near the $0.6136 mark, a close above the resistance level at $0.64 would trigger the anticipated breakthrough..64 would trigger the anticipated breakthrough. Still, careful monitoring is necessary within these bullish chart patterns, and one should keep a close eye on the MACD indicator for confirmation of this expected bullish trend

Tag : XRP Cryptocurrency Trendline MACD Cryptocurrency research Market trends Market analysis

Swiss cryptocurrency bank rebrands as AMINA

noreply@blogger.com (VisaTK) — Fri, 01 Dec 2023 17:21:00 +0000

Swiss Cryptocurrency Company Transamination Unveils New Phase
A New Era: AMINA's Vision for Cryptocurrency Banking
Name modifications outside of Switzerland

The Swiss cryptocurrency bank SEBA Bank AG announced today that it is rebranding as AMINA Bank AG.

Swiss Cryptocurrency Company Transamination Unveils New Phase

Based in Zug, Switzerland, the cryptocurrency company has been granted permission by FINMA to provide financial services since 2019.

The rebranding, according to Amina, represents a new phase for the company. The word "transamination" refers to the transference of one substance to another.

A New Era: AMINA's Vision for Cryptocurrency Banking

"We are a major participant in cryptocurrency banking, and we are here to shape the future of finance. Our brand represents a new chapter in the company's development and strategy. According to a statement from Franz Bergmueller, CEO of AMINA, "We offer a platform for investors to build wealth safely and under the highest regulatory standards with our client-focused approach and our years of traversing traditional and crypto finance."

Customers won't be impacted by the move, according to Amina, and business will continue as usual. Its subsidiaries in Singapore and Hong Kong, as well as its branch in Abu Dhabi, will thereafter submit an application for a name change to align with the Zug headquarters.

Name modifications outside of Switzerland

Customers won't be impacted by the move, according to Amina, and business will continue as usual. Its subsidiaries in Singapore and Hong Kong, as well as its branch in Abu Dhabi, will thereafter submit an application for a name change to align with the Zug headquarters.

As part of the new crypto authorization framework in the area, AMINA is just a few weeks away from receiving a license to provide services in Hong Kong.

Binance will drop the BUSD stablecoin in December

noreply@blogger.com (VisaTK) — Wed, 29 Nov 2023 23:07:00 +0000

Binance Announces BUSD Support Discontinuation Plan
BUSD Regulatory Challenges: SEC and NYDFS Intervene
Market Reflections: BUSD's 92% Drop in a Year

Leading cryptocurrency exchange Binance said that, as a result of Paxos stopping the minting of new currencies, it would stop supporting all Binance USD (BUSD) goods as of December 15.

Binance Announces BUSD Support Discontinuation Plan

Users should withdraw or convert their current BUSD on the exchange into other assets by December 15th, according to a notification published by Binance on November 29. Binance will stop accepting BUSD withdrawals on December 31. At that time, certain customers' current balances will be immediately changed to First Digital USD (FDUSD).

This was Binance's most recent attempt to discontinue support for its own stablecoin. Before February 2024, the exchange said that it would progressively discontinue supporting BUSD. The first step would be to stop lending and borrowing funds for the stablecoin in October.

BUSD Regulatory Challenges: SEC and NYDFS Intervene

In a Wells notice sent to Paxos, the stablecoin's issuer, in February, the US Securities and Exchange Commission hypothesized that BUSD was an unregistered security. Paxos was also given an order by the New York Department of Financial Services to stop issuing BUSD.

For withdrawals, use Binance. The US requests that customers convert USD into stablecoins.

U.S. authorities said on November 21 that they had struck a settlement with Binance and its former CEO, Changpeng Zhao, which mandated that they pay a sum of billion. As part of the settlement, Zhao stepped down as CEO, and Richard Teng, the exchange's head of regional markets, took over.

Market Reflections: BUSD's 92% Drop in a Year

By market capitalization, BUSD was among the biggest stablecoins prior to August, peaking at more than billion in November 2022. The stablecoin's market capitalization was around $2.7 billion at the time of publishing, having dropped by more than 92% in a year.

Unstablecoins: Bank runs, depegging, and other impending dangers

Arthur Hayes defends Binance and CZ against US action

noreply@blogger.com (VisaTK) — Tue, 28 Nov 2023 22:55:00 +0000

Binance's Historic Penalty: An Ideological Symbol
Taking the Status Quo Seriously
The Effects of Binance's Actions on the World
Evaluation of the Financial Institution
Is decentralization the fintech of the future?
A Revolution in the Crypto World

Binance's Historic Penalty: An Ideological Symbol

The creator of the popular cryptocurrency exchange Binance, Changpeng "CZ" Zhao, has faced a formidable obstacle. One of the biggest corporate penalties in history was imposed on the corporation. As a result, this historic fine amounted to billions. Binance's disobedience to the established political and financial structures in the US led to the punishment. The former CEO of BitMEX, Arthur Hayes, sheds light on this incident. He highlights the explosive expansion of Binance. Moreover, he highlights its noteworthy worldwide influence. Surprisingly, Binance has more trading volume than even established exchanges.

Taking the Status Quo Seriously

Hayes emphasizes Binance's distinct position in the finance industry. Through the exchange, anyone may possess bitcoin assets and middlemen. Without depending on established financial players, this was feasible. The industrial revolution saw a first for such direct ownership, made possible via desktop and mobile trade applications. Hayes also has issues with the US Department of Justice's approach. It seems arbitrary to him as well as ridiculous. This response was notably in response to the threat that Binance and CZ posed to the status quo in finance.

The Effects of Binance's Actions on the World

Hayes investigates the worldwide ramifications of Binance's conduct. He points out that investors and state-owned businesses in China may decide to move their money outside. The absence of lucrative returns in their local market is the cause of this change. Furthermore, it is noteworthy that Hong Kong has just authorized brokers and exchanges for bitcoin licenses. It creates opportunities for both Chinese businesses and private investors. They can now buy Bitcoin, which might have an impact on international markets. This may also have an impact on the dollar's standing as the main financing currency around the globe.

Evaluation of the Financial Institution

The way U.S. authorities have treated Binance and CZ contrasts with the lax sanctions conventional financial companies have received for crises like the 2008 financial crisis and the 1Malaysia Development Bhd. (1MDB) case. According to Hayes, this unequal treatment is a sign of opposition to blockchain technology's decentralization and revolutionary potential.

Is decentralization the fintech of the future

In the realm of cryptocurrency, Hayes highlights the significance of decentralized ownership and promotes private key control as a path to actual financial freedom. He takes issue with the concentration of earnings, believing it to be at odds with the decentralized idea of Bitcoin's originator. Coinbase CEO Brian Armstrong agrees, stating that, in the wake of the Binance settlement, rules should be made explicit.

A Revolution in the Crypto World

The story of Binance and CZ represents a significant turning point in the development of cryptocurrencies and blockchain technology. It draws attention to the continuous conflict that exists between established centralized authorities and developing decentralized financial systems. The effects of Binance's disobedience and the reaction it received from authorities will probably be the subject of debate and research for years to come as the cryptocurrency scene develops.

Bitcoin When Will $40,000 Break Trends in the Market

noreply@blogger.com (VisaTK) — Tue, 28 Nov 2023 04:36:00 +0000

Bitcoin's inactivity at the $38,000 resistance level points to a potential retreat to the $35,000 support level.
On Bitcoin's daily chart, consolidation and bearish divergence point to a slowdown in the positive trend.
The head and shoulders and ascending wedge patterns on the Bitcoin chart suggest a possible bearish reversal.

The leading cryptocurrency, Bitcoin, is presently negotiating a pivotal moment. BTC's momentum has reached a standstill around the $38,000 barrier level after a strong bullish run. There is a lot of selling pressure at this crucial juncture, which raises concerns about the short-term outlook for the cryptocurrency.

According to recent estimates, there may be a correction coming soon, and Bitcoin may drop below the $35,000 support level. The daily chart displays a consolidation period; BTC has been repeatedly rejected at $38,000, which has resulted in low volatility and constrained price moves. The trend's cap falls between $35,000 and $38,000, indicating a time of hesitation in the market.

Moreover, the relative strength index (RSI) and Bitcoin's price have developed a protracted negative divergence, which suggests that the bullish momentum may be waning. The market could correct as a consequence of this.

Bitcoin is developing an ascending wedge shape on its technical chart, which is usually an indication of a negative reversal. In addition, a head-and-shoulders pattern that suggests a possible bearish reversal is almost complete. A break below the neckline, which would validate the pattern, would trigger a large decline in price, with $32,300 serving as a critical support level that corresponds to the 0.5 Fibonacci retracement level.

The condition of Bitcoin now has an additional dimension thanks to on-chain analysis. Miners may be holding onto their money if there is less Bitcoin moving from miner wallets to exchanges—a decrease not witnessed since 2017. Long-term, this pattern may be seen as an indication of bullish attitude.

The cryptocurrency community is keeping a careful eye on events as Bitcoin makes its way through a challenging combination of technical and on-chain components.

In the ever-changing cryptocurrency industry, Bitcoin's future trajectory will be greatly influenced by the patterns and signals that arise from these elements. As one of the most respected digital assets in the market, Bitcoin has a good chance of rising quickly to the $40K level if it can break over the $38K resistance level.

The South Korean central bank will pilot CBDC in 2024

noreply@blogger.com (VisaTK) — Sat, 25 Nov 2023 04:47:00 +0000

BIS and BOK Discuss Digital Currency Innovation
Pilot for CBDC
Probably more pilots
Digital Currency Trailblazers: South Korea Sets the Standard

Various local media outlets have reported that the Bank of Korea (BOK) has revealed plans for a pilot program to test its new central bank digital currency (CBDC).

It is anticipated that the initiative, which will be carried out in association with the Financial Supervisory Service (FSS) and the Financial Services Commission (FSC), will begin in 2024.

BIS and BOK Discuss Digital Currency Innovation

The statement, which comes after a meeting between General Manager of the Bank for International Settlements Agustin Carstens and BOK Governor Rhee Chang-yong, highlights the interest in digital currency innovation throughout the world.

Carstens referred to the project as the "digital Won" and commended it for taking a forward-thinking approach to the future of monetary systems.

Pilot for CBDC

A major step toward incorporating digital currencies into regular transactions in the nation will be taken with the launch of the initiative, which will enable 100,000 Koreans to utilize deposit tokens based on the "digital Won" CBDC.

The goal of the central bank-backed digital currency known as the CBDC is to improve financial transactions and solve issues with the existing systems, such as exorbitant transaction costs and sluggish settlement times.

By utilizing deposit tokens—which function similarly to vouchers—issued by commercial banks, participants in the test program will be able to make purchases. The experiment is scheduled to begin in September 2024 and last for three months, during which time the chosen banks will recruit participants.

The BOK underlined the potential advantages of virtual currencies, particularly with regard to enhancing the security and efficiency of financial transactions. This covers specific applications, such as government grants, where fraud threats and post-transaction verification present challenges for the existing systems.

Nonetheless, throughout the pilot program, the usage of these virtual currencies will be restricted to approved payment applications, with limitations on personal remittances and other uses.

Probably more pilots

Along with the Korea Exchange, the BOK is investigating the possibility of incorporating CBDC into a model carbon emissions trading system. The feasibility of transactions, including payment tokens and carbon emissions rights, will be tested in this experiment.

In the future, the BOK intends to carry out the pilot in the fourth quarter of 2024, with the potential for further independent pilots contingent on bank proposals.

Digital Currency Trailblazers: South Korea Sets the Standard

With this move, South Korea takes the lead in integrating digital currencies and may establish standards for other countries in the future of financial transactions.

Elon Musk Thanks the Founder of Dogecoin Personally

noreply@blogger.com (VisaTK) — Fri, 24 Nov 2023 13:21:00 +0000

Elon Musk thanks the Dogecoin founder for what he did
Billy Markus of DOGE is thanked by Musk
For a moment, Dogecoin replaces Twitter's logo
Altcoin Profit Potential: Mags' Diversification Advice

Elon Musk thanks the Dogecoin founder for what he did

Tech tycoon Elon Musk, the new owner of the widely used social media platform X (which was once known to millions of users as Twitter) has remarked on a recent X post made by Billy Markus, one of the co-creators of Dogecoin.

Musk praised him for that publishing in that statement. It seems to be significant and to have had a positive impact on Musk's rise to become the richest person on the planet during the last several years, the X leader.

Billy Markus of DOGE is thanked by Musk

Billy Markus, an IT programmer who co-created the first meme currency DOGE with Jackson Palmer in 2013, joked about it and posted it on Bitcoin, said in a tweet today that the community need to give the X app as much support as they can.

Markus feels that this is crucial since there isn't another social networking site that upholds user rights and encourages free expression. In what seems to be a first in their regular interaction via comments on X, the owner of X, Musk, stopped by to thank the cofounder of DOGE for that.

Thanks Billy!

— Elon Musk (@elonmusk) November 24, 2023

Elon Musk, who is a major supporter of Dogecoin and seems to be one of its largest holders, is also said to be favoring Markus (and considers him a friend, despite the fact that they have never met, according to one of Musk's tweets from this year).

Markus said that he really enjoys the X app. Markus had previously tweeted that he was happy that Musk has put in place the means for content creators with big followings to be paid on X. These are the Monetization function, which entitles bloggers on X to a portion of advertising revenue, and the Subscription feature, which enables them to automatically deduct a certain amount from their subscribers' bank cards. The creator of DOGE has received one of X's largest profits this year.

Additionally, Markus highlighted having access to the Grok AI chatbot that Musk just introduced on the X platform in one of his tweets from today. Subscribers to Premium+ may access it.

yeah! and grok access 🔥

— Shibetoshi Nakamoto (@BillyM2k) November 24, 2023

For a moment, Dogecoin replaces Twitter's logo

When Elon Musk unexpectedly changed Twitter's distinctive blue bird logotype with the DOGE mascot at the beginning of April this year, he really showed the community and all Twitter users how much he loved and supported Dogecoin.

Following then, the price of Dogecoin had an incredible 1,992% surge. It peaked on April 4th, at $0.096. This situation did not, however, endure for very long. A few days later, the blue bird returned to its original location, and DOGE fell to $0.082 (before briefly rising again to $0.09).

After then, DOGE only hit it three times this year: on July 26 and most recently twice in November, when Dogecoin surged to the $0.086 level on November 18 but was unable to stay there. It seems that this $0.082 level has now become resistance for the meme currency.

According to statistics supplied by CoinMarketCap, the original canine token is now trading at $0.07819, having dropped by about 4% during the previous day.

According to a cryptocurrency specialist the true altcoin surge hasn't yet begun

noreply@blogger.com (VisaTK) — Thu, 23 Nov 2023 17:51:00 +0000

Bullish Trend: Altcoins Gain Investor Favor
Upcoming Upswing: Mags' Signals from 2020 Patterns
Possible triangle rupture
Altcoin Profit Potential: Mags' Diversification Advice

Investors may think about acquiring altcoins in anticipation of a prospective bull market, as the cryptocurrency market predicts one.

Bullish Trend: Altcoins Gain Investor Favor

The recent violation of the 50-week simple moving average (SMA) barrier by altcoins indicates a noteworthy trend wherein they are gaining substantial strength, indicating a more favorable feeling among investors.

According to technical analyst and cryptocurrency trader Mags, there seems to be a potential altcoin rally approaching, with signs suggesting a pattern similar to what happened in 2020.

Upcoming Upswing: Mags' Signals from 2020 Patterns

In a post on November 23, Mags hypothesized that the patterns seen in the market right now are reminiscent of those from 2020, which preceded a significant market rebound. For ETH/BTC as well as altcoins, this was a critical low, perhaps paving the way for a large upswing.

We are seeing something similar in 2023, since the Bitcoin halving is just five months away and ETH/BTC has recently reached this multi-year trendline support. Additionally, prices are gathering into a narrow triangle. This is a very positive point for ETH and other cryptocurrencies.

Possible triangle rupture

Mags notes that the present consolidation of prices is taking place within a tight triangle formation. Such consolidations have historically often signaled a positive trend, particularly when they are followed by a breakout.

It would be very positive for Ethereum and the larger altcoin market if this pattern were to rebound, especially at this point.

Altcoin Profit Potential: Mags' Diversification Advice

Although Mags believes that concentrating on Ethereum makes sense given its significant influence on the trend, spreading your bets across a variety of altcoins may also provide attractive chances for a profit.

At this point in the market cycle, investing will need thorough study and an acute comprehension of the underlying market dynamics. The next bull market will only be profitable for those who invest in the correct ventures.

Notice: Nothing on this website should be construed as financial advice. Investing is a risky endeavor. Investing involves a risk to your cash.

Money Will Flood Into Bitcoin Once Spot ETF Approval Is Granted Says Former NYSE President

noreply@blogger.com (VisaTK) — Wed, 22 Nov 2023 22:05:00 +0000

SEC's Bitcoin Decision
Bitcoin Enthusiasm: Farley's Straightforward View
Farley's Bitcoin Vision: Optimism and ETF Impact
NYSE Veteran's Crypto Leap: All In on Bitcoin
SEC Anticipation

When asked about the potential approval of a Bitcoin spot exchange-traded fund (ETF) by the Securities and Exchange Commission (SEC), former NYSE President and current CEO of Bullish Tom Farley expressed optimism about the future of cryptocurrency, particularly Bitcoin, in an exclusive interview with CNBC.

SEC's Bitcoin Decision

Farley's remarks come as the SEC deliberates on whether to authorize a Bitcoin spot ETF, a move that may usher in a wave of institutional participation in the cryptocurrency market.

Farley said that the establishment of a Bitcoin spot ETF might be a "game-changer" for the cryptocurrency during the interview. He emphasized the value of a spot ETF over futures-based ETFs since the former would provide investors direct exposure to the underlying asset.

Bitcoin Enthusiasm: Farley's Straightforward View

"Everyone acknowledges Bitcoin is not a security, including the regulators," added Farley. With the introduction of a Bitcoin exchange-traded fund (ETF), a great deal of capital will pour into the sector. Believe in Bitcoin is widespread. To put it simply, Bitcoin is fantastic. The value may be stored in it.

Farley's Bitcoin Vision: Optimism and ETF Impact

Farley, who led Bullish's recent purchase of CoinDesk, has voiced optimism about Bitcoin's future and predicted a large influx of cash into the market if a spot ETF is approved by regulators. He mentioned the growing interest of large financial institutions and other players in the financial sector in buying Bitcoin via more conventional investing channels.

NYSE Veteran's Crypto Leap: All In on Bitcoin

"This guy ran the New York Stock Exchange, he's all in on Bitcoin and crypto now," said co-anchor of CNBC's Squawk Box Joe Kernen. As one of our team members put it, "They use that as credibility for the asset class."

SEC Anticipation

The industry is waiting on the SEC's decision with bated breath, and the former NYSE head's positive mood reflects the rising confidence in Bitcoin's future trajectory by indicating the possibility of a large infusion of money into the market should a spot ETF be approved.

The next cryptocurrency trading giant to be targeted by the SEC is Kraken

noreply@blogger.com (VisaTK) — Tue, 21 Nov 2023 17:59:00 +0000

Keypoints

Kraken, a cryptocurrency exchange, was sued by the SEC for allegedly running an unlicensed securities trading platform.
Kraken is accused of operating without the required SEC registration as a broker, dealer, exchange, and clearing agency.
According to the SEC, Kraken traded a number of tokens, including as Algorand,Polygon, and NEAR, that ought to have been registered as securities.
According to the complaint, Kraken inappropriately mixed company and client funds, putting a large amount of danger.
Kraken refutes the allegations, claiming that Congress need to clarify regulations as opposed to the SEC's "regulation by enforcement.

On November 21, 2023, the Securities and Exchange Commission filed a lawsuit against Kraken, a cryptocurrency exchange, alleging that the business ran an unlicensed securities trading platform. The SEC claims that Kraken gave customers the ability to trade digital assets that, in accordance with US law, ought to have been registered as securities.

The regulator specifically claims that well-known tokens like NEAR, Polygon's MATIC token, and Algorand satisfy the requirements for being classified as securities under the law. Kraken violated securities laws by enabling trading in these assets without properly registering with the SEC. In addition, the exchange is accused of functioning as an unlicensed broker-dealer and collecting fees totaling billions of dollars without following important regulations protecting investors.

The complaint also alleges that Kraken created needless risks by erroneously combining client and business assets. In addition to its own corporate bitcoin assets, Kraken reportedly had over $33 billion in cryptocurrency owned by its customers. The SEC claims that consumers might suffer major losses as a result of this combination. In a similar vein, Kraken is accused of using bank accounts containing more than $5 billion in cash from customers to cover operating costs.

Kraken has responded by saying that it does not list any securities and that it intends to fight the case tenaciously. The business claimed that rather than adopting clear rules, the SEC had overreached its jurisdiction and was stifling innovation via aggressive litigation action. Congress, according to Kraken, need to intervene and establish clear regulations for cryptocurrency exchange registration.

Similar lawsuits brought this year against competitors like Coinbase and Binance are echoed by the SEC crackdown. The regulator anticipates that the court cases will force the main cryptocurrency trading platforms to comply with the securities laws already in place. But the high-profile legal fights are far from done, with politicians pushing back and the exchanges themselves putting up a tough fight.

Bullish takes a 100% share in the cryptocurrency media website CoinDesk Report

noreply@blogger.com (VisaTK) — Mon, 20 Nov 2023 15:58:00 +0000

Former NYSE President Takes Crypto Helm
Crypto Media Acquisition: Bullish's Secret Deal
Corporate Tug-of-War: CoinDesk's Hot Property
Singapore's Move: The Block's $70 Million Sale

According to a Wall Street Journal (WSJ) story, on November 20, cryptocurrency exchange Bullish purchased CoinDesk, a platform for sharing cryptocurrency news.

Former NYSE President Takes Crypto Helm

Tom Farley, a former president of the New York Stock Exchange, leads the cryptocurrency exchange. The media outlet said that the present CoinDesk editorial staff would continue, with former Wall Street Journal editor-in-chief Matt Murray serving as the head of an independent editorial committee.

Crypto Media Acquisition: Bullish's Secret Deal

The article claims that Bullish paid full cash for the cryptocurrency media platform; however, the specifics of the transaction were not made public. After one of the harshest crypto winters in the last two years, Digital Currency Group had financial difficulties, leading to takeover negotiations for the media platform. For $500,000, DCG acquired CoinDesk in 2016.

Bullish, with the support of investors like Louis Bacon and Peter Thiel, acquired CoinDesk. Nonetheless, the transaction comes amid attempts to purchase a portion of the insolvent FTX's operations and following a rejected SPAC merger.

In advance of the release of version 2.0, OpenSea severance pays 50% of its employees' salaries.

Corporate Tug-of-War: CoinDesk's Hot Property

Bullish is not the only corporation that shown interest in CoinDesk, a media company that reportedly brings in $50 million annually. An earlier effort to buy CoinDesk for $125 million was made by an investment group headed by Matthew Roszak, but the transaction fell through.

Singapore's Move: The Block's $70 Million Sale

There are other cryptocurrency media companies that have had difficulties in a bear market besides CoinDesk. Following the disastrous collapse of the cryptocurrency exchange, The Block was likewise forced to sever relations with its original founders when connections to FTX were discovered. At a price of $70 million, the cryptocurrency news site sold the bulk of its shares to Foresight Ventures, a venture capital company located in Singapore. For $60 million, the venture capital group behind the acquisition purchased an 80% interest.

Bullish Whales in Ethereum (ETH) Are Returning With Massive Longs

noreply@blogger.com (VisaTK) — Sun, 19 Nov 2023 14:52:00 +0000

Whale-Driven DeFi Strategies
Crypto Frontier Thrills
ETH Whales' Strategic Optimism

Curiousity and eagerness have been infused into the market by ETH whales' recent frenzy of activity. One such whale has made a noteworthy move with their holdings, selling 12,048 ETH worth around $23.4 million to pay off debt, according to on-chain analytics from Lookonchain. At first, they bought the ETH from Binance when it was priced for about $1,768.

Whale-Driven DeFi Strategies

This whale and others have borrowed stablecoins using ETH as collateral on DeFi lending services like Aave and Compound, with the goal of buying even more ETH. This might be seen as a calculated vote of confidence in ETH's future price growth. Furthermore, the fact that two new wallets withdrew a substantial amount of 21,076 ETH, or $41.23 million, from Bitfinex suggests that whales are increasingly transferring their money to cold storage to be held for an extended period of time. This kind of conduct usually causes exchange liquidity to decline, which may raise market prices.

Crypto Frontier Thrills

In a major deal, the previously mentioned whale pledged 7,324 ETH, or $14.3 million, as security on Compound in exchange for a $9 million USDT loan that was eventually sent to Binance. The purpose of this series of transactions is probably to buy more ETH and increase the whale's holdings in the cryptocurrency. These significant actors are putting themselves in a position to profit from expected price rises and may even be driving up the value of ETH, which indicates a positive outlook.

ETH Whales' Strategic Optimism

The calculated actions taken by ETH whales reflect a persistently optimistic outlook and a long-term investment horizon. These investors are taking advantage of chances to increase their cryptocurrency holdings as long as ETH is supported over the $1,970 threshold. The market is still on guard, however, as these whales' heavy selling can cause a market retreat if they decide to turn a profit.

The Price of Bitcoin (BTC) Remains High Despite Marketwide Decline

noreply@blogger.com (VisaTK) — Sat, 18 Nov 2023 15:39:00 +0000

Token Volume Dips 22%, Bitcoin Stabilizes at $710.58
BTC's Resilient Recovery
Educational Content Disclaimer

The market leader, Bitcoin (BTC), managed to score a modest 0.02% rise in price during the last day, despite the worldwide cryptocurrency market value declining by 1.02%. Over the previous day, BTC's dominance increased by 0.67% as well. After hitting a 24-hour high of $36,704.48, the value of Bitcoin was $36,353.79 at the time of publication.

Token Volume Dips 22%, Bitcoin Stabilizes at $710.58

In the meanwhile, the token's 24-hour trading volume dropped by about 22%, to hover at $20.06 billion. The market capitalization of Bitcoin also settled at $710.58 after its brief 24-hour increase.

BTC's Resilient Recovery

Nevertheless, the price of Bitcoin fell by 2.64% over the previous trading week. Even with the unimpressive 24-hour performance, BTC's recent triumph was still clearly visible since its weekly performance was positive by more than 28%.

BTC/USDT 4-hour chart (Source: TradingView)

Over the last 48 hours, BTC made an effort to break over the $37,500 barrier. It managed to climb as high as $37,980, but it rapidly retreated, trading down below $37,500. As a result of traders selling off their Bitcoin holdings, the market leader tested $35,600.

Bulls Maintain Key Support, Bitcoin Enters Consolidation for Potential Breakthrough
But Bulls held the crucial support level. As a result, there has been a period of consolidation in the price of Bitcoin over the last day. This stage of accumulation may be the precursor to a significant price breakthrough for bitcoin.

Bitcoin's Potential Rally

In the event that BTC makes a significant upward move in the next days, it could try to test the $37,500 barrier once again. Before taking a long position, traders and investors should wait for BTC to finish three consecutive 4-hour candles above this level. In this optimistic scenario, Bitcoin may reach $40,000.

However, a bearish breakthrough may cause the price of bitcoin to drop below $35,600. After that, if sell pressure doesn't let up, Bitcoin may drop as low as $34,050 over the course of the next several days.

Educational Content Disclaimer

Disclaimer: This page contains material that is only intended for educational and informative reasons. The article does not provide financial advice or any other kind of advise. Coin Edition disclaims all liability for any damages resulting from the use of the goods, services, or content that are referenced. Before making any decisions on the firm, readers are urged to proceed with care.

According to JPMorgan Ethereums activity has decreased after the Shanghai summit

noreply@blogger.com (VisaTK) — Fri, 22 Sep 2023 20:34:00 +0000

Under $1,600 for Ethereum
Will There Soon Be a Bitcoin ETF?

After the Shanghai update, Ethereum should function more smoothly, enticing more users. However, recent evidence suggests otherwise.

Daily activity and total value locked (TVL) on Ethereum have decreased since Shanghai, a research from JPMorgan shows. In particular, daily transactions are down 12%, daily active addresses are down almost 20%, and the total value of all transactions (TVL) is down approximately 8%.

Prior to the Merge, Ethereum's gas usage was claimed to have dropped by 99.99% via Glassnode Alerts. In addition, the price of gas on the network has dropped significantly. According to JPMorgan's analysis, less daily activity may also be contributing to this decline in gas use.

Staking Ethereum, on the other hand, has grown in popularity when the Merge released the staked ETH.

According to an article penned by JPMorgan analyst and Managing Director Nikolaos Panigirtzoglou, the supply of Ethereum is decreasing and staking has increased sharply since the switch from Proof-of-Work to Proof-of-Stake, which reduced the network's energy consumption by more than 99%. However, network activity has not increased as anticipated.

Under $1,600 for Ethereum

On Friday, the price of Ethereum fell to $1,597 from a high of $1,665 earlier in the week. Bitcoin dropped below $26,600 as the market reversed, while other cryptocurrencies saw minor losses. At the time of writing, Bitcoin's market value has fallen to $519 billion, or 49.2% of the whole cryptocurrency market.

There has been a lot of attention paid to the recent registrations of spot Bitcoin ETFs and ETH futures ETFs. The widespread use of cryptocurrencies is seen to be aided by these applications. ARK 21Shares, Volatility Shares, Roundhill, Bitwise, ProShares, and Grayscale are just a few of the early entrants.

Grayscale Investments Inc. entered the line of waiting investment firms. Grayscale applied for a new Exchange-Traded Fund (ETF) product with the U.S. Securities and Exchange Commission (SEC) on September 19th.

Grayscale Ethereum Futures Trust ETF is an exchange traded fund that plans to be registered and traded on the New York Stock Exchange Arca in accordance with Rule 8.200-E.

The decision was made after Grayscale's attempt to convert its Bitcoin Trust product to a spot ETF was successful in a dispute against the SEC. Following the court's decision, Grayscale has asked the securities regulator to examine the company's proposal.

Will There Soon Be a Bitcoin ETF?

Prior to Grayscale, in the middle of August, digital asset management Valkyrie submitted an ETF application to the SEC for Ethereum futures. Bloomberg earlier claimed that the SEC was about to approve the first futures Ether ETFs, which caused widespread excitement in the Ethereum market.

Many large corporations believe there would be a significant market for a Bitcoin exchange-traded fund (ETF).

Two Ethereum exchange-traded fund (ETF) applications are now under examination by the SEC. According to reports, authorities have reviewed spot ETF applications from two major asset managers: ARK Invest and VanEck.

The SEC's website states that interested parties have 45 days from the date of publication to submit comments on each application. People are encouraged to detail the possible benefits and hazards connected with these ETFs and offer their thoughts on the SEC's decision to approve or reject them.

Together, the $60 billion asset management business ARK Invest and the European provider of cryptocurrency exchange-traded products (ETPs), 21Shares, have created the ARK 21Shares Ethereum ETF. Using the CME CF Ether-Dollar Reference Rate (ETHUSD_RR), this ETF seeks to replicate the performance of the Ethereum price.

However, neither the review process nor the ETFs' submissions imply that they will be approved. The SEC has not yet given the green light for Ethereum futures ETFs, but a decision is expected in October at the earliest.

Tags : Trading Market Tendency Cryptocurrencies Ethereum

Toncoin's price rose by 10% today, while XRP and Solana both fell by 2%

noreply@blogger.com (VisaTK) — Sat, 02 Sep 2023 17:05:00 +0000

The market for cryptocurrencies saw a rapid decline in the majority of famous digital coins as the euphoric emotion around the Bitcoin ETF began to wane. The market's negative momentum was restored by the price decline, suggesting the downward trend might extend into the foreseeable future.

The total value of all cryptocurrencies as of Saturday morning at 6:57 UTC is $1.04 trillion, down an estimated 0.63 percent from the previous day. In addition, trade volume has decreased to 34.28% Billion, a 9.89% reduction in the past 24 hours.

BTC Price Prediction: Bitcoin Turned Down at $27,000; Is $20,000 Next?

Toncoin Price Prediction: $TON to Rally Above $2 after Breaking Trendline

From: TradingView (Source)

Toncoin's price has been falling for eight months straight, as evidenced by the daily time frame chart and the effect of a resistance trendline. During the decline, the coin price has retraced from dynamic resistance at least three times, suggesting traders are keen to sell on rallies.

On September 1st, the coin price signaled a reversal of trend with a big breakthrough above the trendline of overhead resistance. At this moment, the TON price might fall back somewhat to retest the broken trendline before continuing on to $2, $2.37, or $2.64.

Range Breakout Could Trigger a Directional Move in the XRP Price

From: TradingView (Source)

The XRP price has been stuck in a sideways pattern between $0.556 and $0.487 for nearly two weeks. Indicative of the wavering character of the market, the coin price has twice bounced back from the aforementioned lows.

As the price of numerous major cryptocurrencies has recently dropped, XRP has followed suit, falling to its current level of $0.496, just above $0.487 support. A breach below that support may send prices down 12.5% to a low of $0.423 if the negative trend continues.

In contrast, a price breach over $0.556 would lead to a sharp increase to $0.627.

Wedge Pattern in Solana's Price Indicates Possible Trend Reversal

From: TradingView (Source)

On a daily chart, a falling wedge pattern has formed in SOL price. As a result of this pattern, the price of the currency has dropped to the $19.6 level, where it is presently trapped between two convergent trend lines.

Solana's price may continue falling until this trendline holds, and it may eventually go below the $17 threshold.

Buyers on the sidelines should keep an eye out for a bullish breakthrough above the trendline that would signal a return to $30.

Bitmain's Upcoming Antminer X5 Raises Concerns as a Monero Mining Device

noreply@blogger.com (VisaTK) — Mon, 28 Aug 2023 23:05:00 +0000

Report on Bitmain

Cryptopolitan reports that Bitmain, a manufacturer of cryptocurrency mining rigs, has sparked debate in the Monero community by announcing the release of the Antminer X5, a dedicated computer for mining Monero (XMR). The Antminer X5, with its hashrate of 212 kilohash per second (KH/s), draws attention to Monero's notorious aversion to ASICs and sparks discussions about the possible effects of the new XMR ASICs within the community. Some members of the community are still confident that they can stop ASIC development via hard forks, while others point out the difficulties of coming up with effective mining algorithms and attaining total ASIC resistance.

Five Million Dollars in Cryptocurrencies Ethereum Lido DAO Uniswap and Aave

noreply@blogger.com (VisaTK) — Thu, 24 Aug 2023 13:14:00 +0000

An anonymous investor's large purchase of altcoins may be a precursor to a price increase.

About $5 million in Tether (USDT) has been used by a crypto whale to make a sizeable investment in Ethereum (ETH), Lido DAO (LDO), Uniswap (UNI), and Aave (AAVE). The investor spent $1,676 on 557 ETH, $1,693 on 593,139 LDO, $413,727 on UNI, $58 on 17,203 AAVE, and $58 on AAVE.

This strategic investment may herald an uptick in the prices of ETH, LDO, UNI, and AAVE, since whale behavior is a leading indicator of market action. Most investors can only speculate on the behavior of crypto whales since they have access to data and knowledge that the rest of us can only dream about.

Ethereum is a leading smart contract platform, and its investment in altcoins with an emphasis on DeFi demonstrates an optimistic view of the cryptocurrency sector as a whole. If additional large investors follow the whale's example and buy, the market might see increased trading volumes and expansion as a result.

Tags : Trading Market Tendency Cryptocurrencies Ethereum

Surge in NEAR of 5% Following Nexo Integration Goes Against Market Tendency

noreply@blogger.com (VisaTK) — Wed, 23 Aug 2023 16:06:00 +0000

A collaboration with the new company Tokenproof was also revealed.

Following news that cryptocurrency exchange Nexo has incorporated the Near network, the price of Near Protocol's native token NEAR has risen by 5% over the last 24 hours. Deposits and withdrawals of NEAR may now be made on that trading platform.

CoinDesk's Market Index (CMI) was down 0.7% on Wednesday, so this large increase comes at a time when the wider crypto markets are generally trending down.

Despite today's gain, NEAR is still 15% lower than where it was a month ago.

On Tuesday, Near and Tokenproof, a firm that facilitates interactions between companies and their consumers using tokens, announced a collaboration to integrate with the Near Protocol Blockchain Operating System.

According to the announcement, Tokenproof app users in the vicinity will soon be able to link their digital wallets with the service to get access to virtual and physical goods and services.

Tags : Trading Market Tendency NEAR Protocol Bitcoin Investing Market Wrap On-chain Data Balancer DeFi

Nearly $100M in Crypto Withdrawn from Balancer Accounts Following Vulnerability Warnin

noreply@blogger.com (VisaTK) — Wed, 23 Aug 2023 00:59:00 +0000

Balancer, one of the most prominent decentralized cryptocurrency trading projects on Ethereum, has advised some of its clients to withdraw their tokens after the discovery of a serious vulnerability that might put tens of millions of dollars' worth of cryptocurrency at risk.

A contributor going by the alias Xeonus wrote, "People are withdrawing fast," indicating that they are paying close attention. On Tuesday, as users rushed to leave, the protocol's TVL plunged by roughly $100 million.

On Tuesday, the platform Balancer discovered an issue with its high-interest-paying boosted pools, which it uses to facilitate the trading of ether and other tokens without relying on conventional market makers.

As a result of the leak, the decentralized protocol went into lockdown (BAL token holders manage it), and the crisis response team at Balancer triggered and paused several pools to prevent their emptying. However, "there are some pools that could not be 'paused' and are therefore at high risk," as Xeonus put it, meaning that they must be protected by user withdrawals.

The most recent calculation from Balancer suggests that around $10 million, or 1.4% of the entire value locked, is still vulnerable.

The actual defect hasn't been made public just yet, but after the dust settles, the project's contributors want to publish a post mortem. At this point, the emergency measures have protected at least 80% of the assets.

Despite the calm, investors were scared away from BAL. Token prices dropped from $3.55 just before the announcement to $3.44 at press time.

Xeonus has said, "We are fine so far." Everyone involved has been notified. So yet, no money has been taken.

Tags : Trading Bitcoin Investing Market Wrap On-chain Data Balancer DeFi

Market Trends Show XRP and LTC Taking Over Bitcoin Holds Above $26,000

noreply@blogger.com (VisaTK) — Mon, 21 Aug 2023 17:31:00 +0000

With limited purchasing pressure over the previous several days, the crypto markets saw one of the largest long liquidation events since the crash of FTX last week.

Markets seemed to settle over the weekend after one of the greatest liquidation episodes in recent months, with major cryptocurrencies trading flat and alternative tokens displaying modest price movement.

As of the Asian afternoon, the price of bitcoin (BTC) was still over $26,000, while the price of ether (ETH) was almost unchanged from $1,670 on Sunday. There was a 2% decline in Xrp (XRP) and a 2% increase in Litecoin (LTC). The two were the lone big market movers that day.

Following the unsuccessful launch of its Ethereum layer 2 network Shibarium, the value of the meme currency shiba inu (SHIB) dropped by 2%, bringing its weekly loss to almost 21%. Over $1.7 million worth of tokens were locked in a bridge, or a mechanism used to move tokens between two blockchains, in the hours after the network went online last Wednesday due to a flaw in the coding.

Optimism (OP) and rollbit coin (RLB) are two examples of alternative cryptocurrencies that have seen price increases as a result of rising demand. With no letup in protocol use, RLB has increased by 18% in the last day.

According to Michael Silberberg, director of investor relations at AltTab Capital, Bitcoin investors are continuing to pile in since the price is undervalued compared to fundamentals.

"We've been seeing increased Bitcoin futures trading lately," Silberberg wrote to CoinDesk. While short positions have accounted for a larger share of open interest, long and short positions have accumulated in thin trading. Speculators gamble heavily on the direction of Bitcoin's price, as seen by this.

"Silberberg said : Despite this drop, we still saw net inflows over the past week as long-term investors, like ourselves, saw discounted prices as an opportunity to accumulate more Bitcoin,"

Tags : Trading Bitcoin Investing Market Wrap

Business Cryptocurrency News

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XRP Analysis: Unveiling the Crucial Multi-Year Trendline

Riding the Waves: MACD and XRP's Future

Intriguing Charts: XRP's Potential Breakout and Cup & Handle Pattern

Swiss cryptocurrency bank rebrands as AMINA

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The Effects of Binance's Actions on the World

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Probably more pilots

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According to a cryptocurrency specialist the true altcoin surge hasn't yet begun

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Possible triangle rupture

Altcoin Profit Potential: Mags' Diversification Advice

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SEC's Bitcoin Decision

Bitcoin Enthusiasm: Farley's Straightforward View

Farley's Bitcoin Vision: Optimism and ETF Impact

NYSE Veteran's Crypto Leap: All In on Bitcoin

SEC Anticipation

The next cryptocurrency trading giant to be targeted by the SEC is Kraken

Keypoints