The US Securities and Exchange Commission (SEC) has reportedly accepted a proposal with exceptions for certain institutions affected by the controversial Staff Accounting Bulletin No. 121 (SAB 121), according to Bloomberg Tax. The SEC has allowed some banks and brokerages to bypass balance sheet reporting through new business practices that provide exceptions to the crypto […]
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With 5,800 Bitcoin remaining, the German government has sold 88.4% of its original 50,000 BTC.
It appears the German government’s ultimate goal for its Bitcoin holdings is total liquidation as the authorities have continued its massive BC sell-offs, bringing its overall reserve below 5,000 BTC. These large-scale transactions are part of the government’s robust endeavor to dump the BTC that was originally seized in conjunction with multiple criminal investigations, especially […]
CoinGecko founder Bobby Ong explained that after Google sold its domain business to Squarespace, two-factor authentication was removed due to the forced migration of domains.
The post Strategies to Identify Altcoins Capable of Yielding $1 Million in Returns appeared first on Coinpedia Fintech News
Many investors who bought altcoins during the previous bull market are now grappling with losses and wondering about the prospects for recovery. Chief among these factors is the absence of a altcoin season. Since the FTX crash, only a handful of coins have managed to surpass their previous highs against Bitcoin, signaling a subdued market …
The post Bitcoin Dominance Drops: Is Altcoin Season Approaching? appeared first on Coinpedia Fintech News
In the downtrend, many altcoins suffered a bloodbath and dropped almost 30% to 70% in price in recent months. This huge decline has many analysts doubting the altcoin season. However, recent developments in Bitcoin’s dominance provide a glimmer of hope for altcoins. Want to know when to dive into altcoin season? Step in. Understanding the …
The bitcoin miner’s shares slumped yesterday after a Culper Research report said the site was unsuitable for artificial intelligence and high-performance computing.
Crypto trading volume is projected to surpass $108 trillion in 2024, with Europe leading in global transaction value and Binance as the most dominant exchange around the world.
USTC has shown notable price movements of late. From an abrupt drop earlier in the year to an optimistic current return, both experts and investors find appeal in the digital asset. Related Reading: Filecoin Boom Incoming? Market Optimism Fuels Crypto’s Next Breakout Star USTC plummeted more than 51% from $0.330 at the start of the year, to $0.1660. This huge drop made people wonder what the future holds for buyers in the stablecoin. But this week, market data showed that things got better: the price of USTC went up by more than 10%. This good news has given people new hope that the asset might be able to come back to life and renewed their excitement. Crypto Analyst’s Breakthrough Prognosis Noting a confirmed bullish divergence pattern, renowned crypto specialist Javon Marks gave USTC some positive words. He projects a likely upside of more than 360% with a breakout target of $0.08097. From the current levels, USTC could show a big comeback and provide good returns to those who have survived the past crisis. $USTC (Terra Classic USD) has confirmed a bullish divergence pattern while maintaining a major set of Higher Lows that can suggest an uptrend to still be in-tact and a more than 360% upside from here! With prices already being broken out and $0.08097 as the breakout target,… https://t.co/qhghFWXNbm pic.twitter.com/yFpQ2pmJDT — JAVON⚡️MARKS (@JavonTM1) July 10, 2024 Technical Views The creation of higher lows on the price chart indicates that buyers are entering the market at prices that are gradually increasing. This means that demand is growing, which may indicate that the uptrend will continue. Another piece of evidence that supports the positive prognosis for USTC is this technical insight. USTC is seen to encounter critical support and resistance levels that could potentially impact its future trajectory, despite the optimistic technical patterns. As of mid-April 2024, USTC is currently circling a critical support level. In another development, Binance gave the Terra Luna Classic community some support for their LUNC burn effort meant to cut supply. A post by Binance community associate Diana generated discussion in the community by implying that the plan is also part of the USTC resurrection strategy. Popular community member Mr. Diamondhandz1 added to this narrative that Binance is helping with the USTC rebirth in addition to their monthly LUNC burning. Related Reading: Solana Frenzy: Big Buyers Fueling Rally On Top Crypto Exchanges In almost half of the entire 126 billion tokens burnt by the community, over 62 billion LUNC have been decimated by Binance. The community is depending on Terraform Labs to burn USTC in their wallets while the USTC repeg strategy is yet to be finalized. Former Binance big boss Changpeng Zhao recently disclosed that the exchange invested $3 million in Terra but has not sold or relocated its LUNC assets. As a result, LUNC’s price climbed by more than 1% to $0.00007192; it fell short of the $0.000072 threshold. The 22% drop in the 24-hour trading volume suggested lower trader enthusiasm. Likewise, USTC’s price increased 0.50% to $0.01608; market uncertainty caused a 41% decrease in trading activity over the past 24 hours. USTC Price Forecast Meanwhile, USTC’s price is predicted to rise by about 8% by August 10, 2024, reaching $0.0172. This prognosis shows a likely upward advance based on various technical signs even with the current negative outlook. At 29, the Fear & Greed Index currently captures market concern. Apart from a 9.84% price volatility, USTC observed fourteen green days in the last thirty days. Featured image from BTCC, chart from TradingView
The UK Law Commission scoping paper suggested legal reforms for DAOs, a review of the Companies Act and international cooperation on AML and tax frameworks.
The post Is Tigran Gambaryan a Hostage? US Lawmakers Stand For Binance Exec Detained in Nigeria appeared first on Coinpedia Fintech News
In a pressing appeal to Congress, Representative Rich McCormick has urged lawmakers to consider Binance executive Tigran Gambaryan as a hostage due to his ongoing detention in Nigeria since February. McCormick’s resolution highlights serious concerns over Gambaryan’s treatment and calls for immediate action from the US government. Call for Hostage Status In his resolution submitted …
Quick Take Farside data shows that Bitcoin Exchange Traded Funds (ETFs) experienced another inflow, marking the fifth consecutive trading day of positive inflows. Bitcoin ETFs saw an inflow of $78.9 million. This trend was observed among the four largest ETF issuers, excluding Grayscale, which reported an outflow. BlackRock’s IBIT led the inflows with a substantial […]
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The post Trending Meme Coins For Massive Gains Next Week appeared first on Coinpedia Fintech News
Crypto market analysts anticipate a recovery rally next week with the potential Ethereum ETF listing, the delayed effect of the US CPI data release, and the end of the German Bitcoin Sell-off. Amidst the recovery rally, altcoins, especially meme coins, are known for massive jumps. With the new trend and demand rush in political-themed and …
On-chain data suggests Satoshi’s original vision is alive and kicking as the Bitcoin network has shifted towards smaller transactions. Bitcoin P2P Payment Transfers Have Been Gaining Steam Recently In a new post on X, CryptoQuant founder and CEO Ki Young Ju has talked about a pattern shift on the BTC network regarding transactions that may […]
A bipartisan group of senators has introduced a new bill aimed at tackling deep fakes, copyright infringement, and AI training on data it’s not supposed to.
The post Bonk & Daddy Tokens Plunge As Solana-based Memecoins Stumble Again! appeared first on Coinpedia Fintech News
With the price of Bitcoin failing to reclaim the $60K mark, the crypto space continues to record a bearish price action. Further, the Solana price has repeatedly failed to hold its value above the $140 mark for the Eighth consecutive day, highlighting a strong selling point at that level. Following this, SOL-based altcoins have experienced …
The post US House Of Representatives Fail To Override Biden’s Veto On SEC Rule appeared first on Coinpedia Fintech News
While a strong majority of the US House of Representatives voted against the veto of a SAB 121 resolution, the votes fell short of the required number to overturn it. The attempt was unsuccessful as the US lawmakers voted 228-184, which was short of the majority needed to override President Joe Biden’s veto. Attempts To …
After a month-long period of increased selling pressure, the German government has nearly exhausted its Bitcoin treasury, selling over 90% of its BTC seized in January in the country’s largest Bitcoin seizure, worth over $2.1 billion. With less than $300 million worth of BTC remaining, this signals the end of a significant sell-off period, with expectations of further price appreciation for the largest cryptocurrency on the market. 9.9% Of Seized BTC Remains On-chain data from market intelligence firm Arkham reveals the German government’s selling activity on Thursday, showing that the German police wallet initially sold 2,375 BTC ($137.87 million) to exchanges including Kraken, Bitstamp, and Coinbase. Subsequently, an additional 3,250 BTC ($191.02 million) was sent to exchanges for selling purposes and over-the-counter (OTC) deals, according to the data. The German government recently transferred 5,000 BTC ($286.44 million) to Flow Traders, Coinbase, Kraken, Bitstamp, 139Po and bc1qu. They have now transferred 10,627 BTC ($615.33 million) to market makers and exchanges on Thursday alone. Related Reading: Analyst Predicts Major Gains for These Altcoins But Warn Against XRP and ADA With only 4,925 BTC remaining, Arkham data shows that the German government currently holds 9.9% of the original 50,000 BTC seized from Movie2k in January, worth just over $284 million at the current BTC price of $57,000. Movie2k, a movie streaming website, was found guilty of money laundering and other illegal activities by the state of Saxony in Germany. Our sister site Bitcoinist reported on Wednesday that Dr. Lennart Ante, co-founder of the German-based blockchain research lab, said the Saxon government is obligated to sell the confiscated bitcoin as per standard procedure, even though lawmakers such as Joana Cotar have urged the country’s legislative chamber to keep the seized BTC. Nonetheless, Dr. Ante further clarified that the general prosecutor’s office of Saxony is responsible for liquidating the confiscated BTC assets as per “standard procedure.” Bitcoin Price Analysis Currently trading above $57,400, the good news is that the BTC price has consolidated above this level for the past few days, signaling a sense of stability in the market ahead of a potential renewed bullish move higher to tackle key resistance levels. This starkly contrasts last week’s price action, when Bitcoin saw violent price swings in both directions as selling pressure from the German government and uncertainty surrounding the payments from defunct exchange Mt. Gox flooded the market. Related Reading: Binance Bought A Whooping 41,000 BTC During The Dip: Did They Save The Bitcoin Market? In the short term, the Bitcoin price will have to face the $58,200 resistance wall, which has proven to be a hard nut to crack for the largest cryptocurrency on the market for the past 6 days, being unable to surpass this level to test the $60,200 obstacle subsequently. Ultimately, it remains to be seen when the German government will end its Bitcoin sell-off and deplete its entire Bitcoin treasury and how BTC’s price will react as the daily selling pressure experienced for the past month subsides. Featured image from DALL-E, chart from TradingView.com
The new fund will target early stage opportunities in AI, blockchain technology, chips and data.
The post Is Altcoin Season Finally Here? As Bitcoin Dominance Breaks the Bearish Wedge Pattern appeared first on Coinpedia Fintech News
Over the past few months, the prices of many altcoins have fallen significantly, by 30% to 70%. This sharp decline has made many analysts skeptical about the chances of an altcoin season. However, recent developments in Bitcoin’s dominance are providing a glimmer of hope. Meanwhile, Prominent crypto trader Titan of Crypto has pointed out that …
A crypto analyst has predicted that Ethereum (ETH), the world’s second-largest cryptocurrency will surge to new all-time highs around the $8,000 price mark. However, for Ethereum to reach this ambitious price target, the analyst emphasized that the cryptocurrency must fulfill certain key conditions. Ethereum Road Map To $8,000 ATH A crypto analyst identified as ‘Bluntz’ on X (formerly Twitter) has expressed bullish optimism for Ethereum’s future outlook. The analyst forecasted that ETH could witness a mega rally to an $8,000 all-time high this market cycle. Related Reading: Bitcoin Forms Double Top Pattern On 4-Hour Chart, Analyst Reveals Targets Bluntz shared a video on June 8 via his official X account, highlighting key conditions Ethereum will have to overcome before it can reach a new all-time high around $8,000. The crypto analyst noted that ETH/USD is presently near recent lows, as a result, Ethereum could be getting closer to its lowest point in this current bearish trend. The analyst disclosed that it was highly unlikely that Ethereum would immediately start surging upwards from its current low point. He emphasized that the cryptocurrency will need to undergo additional downward movement before witnessing a surge to the $8,000 price target. For Ethereum to begin its road map to the $8,000 all-time high, Bluntz believes that the cryptocurrency must “sweep $2,800, take out the low and reclaim it.” After this, the analyst revealed that a three-wave corrective pattern, termed an “ABC,” will be completed, potentially signaling the end of Ethereum’s downward trend and the beginning of a substantial upward movement. Bluntz also noted in his video that Ethereum’s ABC wave correction will send the price of the cryptocurrency to $6,000 before pulling back and rallying again to a cyclic top of around $8,000. He expects Ethereum to trade sideways for a while, testing new lows before entering a recovery stage. Analyst Asserts Ethereum’s Biggest Gains Are Yet To Come In his post, Bluntz confidently asserted that Ethereum has yet to experience its “big run” in this market cycle. Although the cryptocurrency surged to new highs above $4,000 earlier this year, Bluntz and a few other crypto analysts have predicted more bullish upsides for the cryptocurrency. One of the primary reasons behind the market’s optimism concerning Ethereum’s price outlook is the upcoming launch of Spot Ethereum Exchange Traded Funds (ETFs). Bluntz disclosed in his video that the introduction of Ethereum Spot ETFs will likely trigger a substantial price increase for Ethereum. Related Reading: Crypto Analyst Says Bitcoin Could Reach $100,000, But What About Altcoins? The analyst revealed that various crypto community members have engaged in a hot debate about the potential launch of the Ethereum ETF, expecting it to have a positive impact on Ethereum’s value. However, contrary to belief, Bluntz anticipates a major ETH sell-off, emphasizing that the price of the cryptocurrency will likely drop following the launch of its ETF. This initial sell-off phase could indicate the shakeout of weaker hands in the crypto market. Following this, Bluntz expects Ethereum to be “bid up heavily,” potentially driving the price upwards. Featured image created with Dall.E, chart from Tradingview.com
With the approval of the Spot Ethereum ETFs by the Securities and Exchange Commission (SEC), other altcoins, such as Shhiba Inu, are moving forward in their bids for their own ETFs. For SHIB ETFs, Shiba Inu marketing lead has given a number of reasons why a SHIB ETF would actually be a great addition to […]
Bitcoin could not topple a key resistance on Thursday despite positive U.S. inflation report.
A recent report by Bloomberg has revealed that suspected digital wallets have been responsible for distributing nearly $100 billion in illicit funds across the crypto market since 2019, with a significant portion flowing through two key sectors of the industry. Crypto Criminals Exploit Stablecoins And CEXs The report highlighted that criminals are increasingly using stablecoins, […]
Germany’s Bitcoin stack briefly dipped below 5,000 BTC after sending a mass of funds to Coinbase, Bitstamp, and Kraken but has since moved some back.
Billionaire tech CEO Elon Musk is certainly very hands-on with his work, but not like that, apparently.
The famous token inspired by Australian singer Iggy Azalea, the Mother Iggy (MOTHER) token on the Solana (SOL) blockchain, experienced a significant surge of 58% on Thursday, emerging as the top performer in the market, as the meme coin announced a new collaboration with Web3 investor and market maker DWF Labs. Iggy Azalea Collaboration With DWF Labs DWF Labs, through a series of posts on social media platform X (formerly Twitter), announced its strategic partnership with now crypto investor Iggy Azalea, as the company recently signaled a new chapter for the company, focusing on “next generation” liquidity partnerships to support crypto projects. Related Reading: XRP Set To Skyrocket 60,000% On Tightest Bollinger Bands Ever: Analyst In response to the collaboration, Iggy Azalea revealed that she had loaned her entire MOTHER token holdings to DWF Labs and Wintermute, an algorithmic trading firm specializing in digital assets. By entrusting her holdings to these market makers, Azalea expressed confidence in their expertise and ability to increase the token’s stability and finance. One user on social media emphasized the significance of this move, highlighting that the founder tokens are now locked, ensuring the token’s “unruggable” nature. However, no further details on the collaboration were provided by either party, leaving questions as to how the partnership will potentially boost MOTHER’s price or its stability in the coming months. MOTHER Price Analysis This latest partnership adds to Iggy Azalea’s growing involvement with the meme coin, as the singer unveiled plans in June to revive a telecommunications company she co-founded, which had an immediate positive impact on the price of the MOTHER token, resulting in a 27% spike at the time of the announcement. Azalea shared her vision of allowing MOTHER and Solana token holders to use their tokens to purchase phones or monthly wireless plans. The singer revealed in her statement that the payment infrastructure for these transactions will be handled by technology company Sphere Labs, with phone services provided by Unreal Mobile, which led to a price spike above the $0.2300 mark for the meme coin. Related Reading: Binance Bought A Whooping 41,000 BTC During The Dip: Did They Save The Bitcoin Market? With the recent announcement and the partnership of the meme coin with DWF Labs, the token surged nearly 60% in the early hours of Thursday, with the MOTHER token hitting a 5-day high of $0.04816. However, after the initial hype surrounding the inception of the meme coin, MOTHER has steadily declined after hitting an all-time high of $0.2306 on June 6th, now down 85% from that level. Currently, the token has corrected to its current trading price of $0.0347, which shows the volatility experienced over the past month, while the token also notes a 16% price drop over the past seven days. However, in the potential scenario where the current uptrend continues, $0.0349 will be the next obstacle to overcome for the meme coin, as it has acted as a resistance wall for the token in the past week. On the other hand, the next support level is at $0.286. Featured image from DALL-E, chart from TradingView.com
Cardano price started a steady increase above the $0.3850 resistance. ADA is now eyeing a close above $0.40 to gain bullish momentum. ADA price started a fresh increase and traded above $0.3880. The price is trading above $0.390 and the 100-hourly simple moving average. There is a key bullish trend line forming with support at $0.3935 on the hourly chart of the ADA/USD pair (data source from Kraken). The pair could gain bullish momentum if it closes above the $0.40 zone. Cardano Price Eyes Steady Increase In the past few sessions, Cardano started a decent increase from the $0.3350 support zone. ADA climbed above the $0.350 and $0.3650 resistance levels, like Bitcoin and Ethereum. It even cleared the $0.3880 resistance and tested $0.4050. A high was formed at $0.4047 and the price is now consolidating gains. There was a move below the $0.400 and $0.3980 support levels. The price tested the 23.6% Fib retracement level of the upward move from the $0.3577 swing low to the $0.4047 high. ADA price is now trading above $0.380 and the 100-hourly simple moving average. There is also a key bullish trend line forming with support at $0.3935 on the hourly chart of the ADA/USD pair. If there is another upward move, the price might face resistance near the $0.400 zone. The first resistance is near $0.4050. The next key resistance might be $0.4250. If there is a close above the $0.4250 resistance, the price could start a strong rally. In the stated case, the price could rise toward the $0.450 region. Any more gains might call for a move toward $0.4650. Downside Correction in ADA? If Cardano’s price fails to climb above the $0.400 resistance level, it could start a downside correction. Immediate support on the downside is near the $0.3960 level and the trend line. The next major support is near the $0.3810 level and the 50% Fib retracement level of the upward move from the $0.3577 swing low to the $0.4047 high. A downside break below the $0.3810 level could open the doors for a test of $0.3750. The next major support is near the $0.350 level. Technical Indicators Hourly MACD – The MACD for ADA/USD is gaining momentum in the bullish zone. Hourly RSI (Relative Strength Index) – The RSI for ADA/USD is now above the 50 level. Major Support Levels – $0.3960 and $0.3810. Major Resistance Levels – $0.4000 and $0.4050.
The post SEC Eases Crypto Reporting Requirements: How Banks and Brokerages Can Benefit appeared first on Coinpedia Fintech News
The SEC has opened a path for banks and brokerages to avoid reporting their customers’ crypto holdings on their balance sheets, provided they mitigate associated risks. This change responds to industry pressures and unsuccessful challenges to the SEC’s two-year-old guidance in Congress as per a Bloomberg report. SEC’s change of heart is evident due to …