In a significant development for the crypto industry, Republican Congressman Matt Gaetz is set to introduce a new bill allowing federal income tax payments to be made using Bitcoin (BTC). Gaetz believes that by allowing taxpayers to utilize Bitcoin for their federal tax obligations, the country can foster innovation, enhance efficiency, and provide greater flexibility […]
Cryptocurrency exchange Kraken recently revealed that it had fallen victim to a critical security flaw, resulting in the appropriation of $3 million worth of digital assets by a research team. The incident unfolded after the exchange received a bug report through its bug bounty program on June 9 from a self-described security researcher who claimed […]
The global Exchange-Traded Fund market is poised for a meteoric rise, with analysts predicting a staggering growth by 2035. This translates to a projected asset value of a whopping $35 trillion, dwarfing the current figure of $13 trillion. Eric Balchunas, Senior ETF Analyst for Binance, believes this surge is inevitable, driven by the inherent appeal […]
In a significant regulatory shift, the US Securities and Exchange Commission (SEC) partially approved the long-awaited Ethereum ETF filings submitted by prominent asset managers three weeks ago, including BlackRock and Grayscale. SEC Chairman Gary Gensler has indicated that full approval for these Ethereum ETFs could come by the end of the summer, providing much-needed clarity […]
Zimbabwe is taking an exciting step into the future by launching a public consultation to get opinions on regulating cryptocurrency operations in the country, Bloomberg reports. This is a big change for a nation that has historically struggled with currency issues. Related Reading: Europol Drops Bitcoin Bomb: Mining Hotbed For Criminal Activity By asking for […]
The government warned betting companies that failing to comply with the new rules could result in a fine of up to 234,750 Australian dollars ($155,000).
During a San Francisco fundraiser hosted by tech venture capitalists David Sacks and Chamath Palihapitiya, former President Donald Trump positioned himself as the champion of crypto and criticized the Democratic party’s regulatory efforts in the sector. Donald Trump Raises $12 Million In Race For White House According to Reuters, the event was held at Sacks’ […]
In a significant legislative development, the President of the United States has been granted extensive powers to regulate digital assets, sparking concern across the crypto community. This new authority allows the President to intervene directly in digital asset transactions, particularly those that could be linked to foreign entities and potentially harmful activities. Experts argue that […]
The University of Austin (UATX), set to welcome its inaugural class this fall, has embarked on a new venture by collaborating with cryptocurrency platform Unchained. Their joint goal is to raise $5 million in Bitcoin (BTC) to contribute to UATX’s long-term fund. According to a Bloomberg report, UATX sees Bitcoin as a unique opportunity to […]
The small country on the Arabian Peninsula sees CBDC as part of its national development strategy.
The meme coin market is back in the spotlight, and BONK is no exception. The dog-themed token has seen a price surge of over 40% in the last month, mirroring a broader trend among its rival meme coins. Related Reading: MATIC Under The Lens: Why Is Polygon Busy But Not Making Money? This recent rally comes amidst positive sentiment surrounding the crypto market, fueled in part by the long-awaited approval of an Ethereum ETF. Analysts are cautiously optimistic about BONK’s future, with some predicting a potential return to its all-time high. Analyst Bullish On New ATH For BONK Renowned crypto analyst CryptoJack has been tracking BONK’s price movement closely. In a recent analysis, he highlighted that the coin is following a bullish pattern he outlined earlier. The price of $BONK is doing exactly what I said it would do in my analysis last week. It was rejected by the resistance and now needs to bounce from the orange area of support to stay bullish. If we can stay above this area, I am expecting new ATHs very soon for #BONK! pic.twitter.com/j3Abd7J5YA — CryptoJack (@cryptojack) May 30, 2024 However, CryptoJack emphasizes the importance of a crucial support level – visualized as an “orange zone” on charts. If BONK can maintain its position above this zone, the analyst predicts a potential breakout and a surge towards new all-time highs (ATHs). BONK’s all-time high of $0.00004547, reached in March 2024, currently sits about 25% above the current price. While this historical peak suggests room for growth, some experts remain cautious. Technical analysis, the method CryptoJack employs, relies on past price movements to predict future trends, but it’s not a foolproof science. Meme Coin Frenzy: Booms And Whimpers The meme coin market has a reputation for being driven more by hype and social media trends than by underlying fundamentals. This can lead to explosive price increases, but also to equally dramatic crashes. Remember “Dogefather” Elon Musk’s offhand tweets sending Dogecoin prices into a frenzy, only to see them plummet just as quickly? BONK is not immune to such influences. BONK Price Forecast Meanwhile, based on the current price prediction, Bonk is anticipated to rise by an impressive 226%, reaching $0.000112 by July 1, 2024. This substantial increase suggests a highly bullish long-term outlook despite the current bearish sentiment indicated by technical indicators. Related Reading: Ethereum Bloodbath: Over $55 Million In Longs Liquidated As Price Plummets The Fear & Greed Index, currently at 72, points towards a high level of greed in the market. This index measures market sentiment and a reading of 72 indicates that investors are exhibiting strong buying behavior, possibly driven by the expectation of future gains. However, such high levels of greed can often lead to overbought conditions, where the asset’s price may be inflated beyond its intrinsic value, raising the risk of a sharp correction. Featured image from Pngtree, chart from TradingView
In a recent filing, US-based cryptocurrency exchange Coinbase has made sharp accusations against the US Securities and Exchange Commission (SEC) and its chairman, Gary Gensler, claiming their actions aim to stifle the cryptocurrency sector. The filing comes amid an ongoing legal battle between Coinbase and the SEC, which alleges that the exchange engaged in unregistered […]
Online payment company PayPal is set to integrate its PayPal USD stablecoin (PYUSD) into the Solana (SOL) blockchain, which is increasingly becoming the preferred choice for memecoin issuers. This move follows the successful launch of PYUSD on the Ethereum (ETH) blockchain and its subsequent addition to PayPal’s Venmo peer-to-peer (P2P) payments service. According to Bloomberg, […]
The Bank of Israel launched the CBDC experiment taking inspiration from the Project Rosalind carried out by the BIS Innovation Hub.
In a bold move that has sent its stock price soaring, medical device company Semler Scientific Inc. has announced that it has allocated a significant portion of its cash reserves to Bitcoin (BTC). According to Bloomberg, the San Jose, California-based firm purchased 581 Bitcoin for a total of $40 million, including fees and expenses. Semler […]
The world of cryptocurrency is no stranger to the bizarre, but this week, a Solana memecoin developer took things to a fiery new extreme. Mikol, the founder of the newly launched “Truth or Dare” (DARE) token, is recovering in a Miami hospital after suffering third-degree burns during a livestreamed stunt gone horribly wrong. This incident […]
The potential misuse of the CBDC technology trumped arguments about innovation or even good legal drafting.
In the lead-up to the November elections, cryptocurrencies have become a prominent topic in the race for the White House. Notably, the Biden administration has changed its approach to digital asset regulation, likely influenced by former President Donald Trump’s support for the nascent industry. Biden Administration Calls For Balanced Crypto Regulation In an executive release, […]
In a recent crackdown on illicit transactions involving crypto assets, the US Department of Justice (DOJ) arrested Rui-Siang Lin, a 23-year-old individual from Taiwan. Lin, who also goes by the names Pharoah and Faro, is accused of owning and operating a dark web drug marketplace known as the “Incognito Market.” The platform allegedly facilitated anonymous […]
In a significant departure from their previous skeptical stance, US regulators are reportedly leaning toward approving the long-awaited spot Ethereum ETFs for the second-largest cryptocurrency by market capitalization. SEC Staff Signals Spot Ethereum ETFs Approval According to a report by Barron’s, the US Securities and Exchange Commission (SEC) staff communicated to exchanges on Monday that […]
Venezuelans, once seeking solace in the digital gold rush, now face a harsh reality. The country, grappling with hyperinflation and economic instability, has banned all crypto mining farms connected to the national grid. This decision, announced by the Venezuelan National Power Ministry, prioritizes the crumbling power grid over the once-booming crypto industry. Related Reading: X […]
The Dogecoin army is barking with excitement after an insider hinted at the long-awaited integration of Dogecoin (DOGE) into X Payments, Elon Musk’s social media platform. However, a closer look reveals a reality check is needed before Doge rockets to the moon. Related Reading: Trump Crypto Boom: Ex-President’s Portfolio Soars 4,000% Amid Re-Election Frenzy Dogecoin […]
According to the Financial Times, the Chicago Mercantile Exchange (CME) Group, the world’s largest futures exchange, is reportedly in discussions to introduce spot Bitcoin (BTC) trading. The move aims to tap into the growing demand among Wall Street money managers seeking exposure to the crypto sector. The move marks a significant step for major Wall […]
Customers of the defunct FTX crypto exchange find themselves at the center of a complex bankruptcy case with potentially promising outcomes. While the process has been far from smooth, the recent surge in the crypto market has bolstered the value of FTX’s assets, resulting in the possibility of customers receiving payouts that exceed their initial […]
El Salvador has once again made headlines as it announced its ownership of 5,750 Bitcoin (BTC), which is valued at approximately $353 million based on current market prices, according to Bloomberg. This revelation comes after the National Bitcoin Office launched a tracking website, developed in collaboration with mempool.space, to provide transparency regarding the treasury’s BTC […]
Raoul Pal, a well-known figure in the financial sector, provided a striking forecast for the future of cryptocurrencies. His analysis suggests a potential rise in the market’s total capitalization to $100 trillion, spurred by global liquidity trends and technological adoption. The Mechanics Behind The Prediction Pal’s insights are rooted in his observation of the global […]
After five weeks of fleeing the digital asset market, investors are cautiously dipping their toes back in, with Bitcoin (BTC) emerging as the clear favorite. A recent report by CoinShares reveals a net inflow of $130 million into crypto investment products, marking a potential turning point after a period of sustained outflows. Related Reading: Hyperinflation […]
China’s ambitious plan for a central bank digital currency (CBDC), the e-CNY or digital yuan, is facing a test of adoption. While the government boasts billions of dollars in transactions and enthusiastic city trials, a closer look reveals a hurdle – a lukewarm reception from the very people it’s meant to serve. Related Reading: Sam […]
BlockFi, a centralized crypto lender, recently shut down its web platform and selected Coinbase as its distribution partner for customer fund withdrawals. The move comes as BlockFi aims to ensure a swift transition for eligible customers following the closure of its platform. BlockFi Selects Coinbase As Exclusive Partner According to the company’s press release on […]
One of the issuers of spot Bitcoin exchange-traded funds (ETFs) in the US, WisdomTree, has announced the expansion of its WisdomTree Prime app to users in New York. Related Reading: Meet The New King Of Crypto Payments: Why Users Are Choosing Litecoin Over Bitcoin Expanded Custody And Stablecoin Services This development closely follows WisdomTree’s recent […]