The cryptocurrency market witnessed a significant setback as the Bitcoin price plummeted below the $58,000 level. This downward move has raised concerns among bullish investors, suggesting a potential continuation of the downtrend toward the $44,000 support level. Bitcoin’s failure to consolidate above and retest its all-time high (ATH) of $73,700, reached in March, has resulted in a retracement of over 20% on the monthly time frame. Bitcoin Price At Risk Crypto analyst “Blockchaineddbb” has provided a noteworthy assessment of the situation. According to the analysis, a daily close below the 200 daily exponential-moving average (EMA), currently positioned at $58,000, indicates a strong likelihood of Bitcoin’s price dropping to $44,000. The analyst cautions against waiting for a bounce after the daily close below the 200 daily EMA, emphasizing the historical significance of such a breach. Related Reading: XRP Holds Bullish 2014-2017 Pattern Unless This Happens: Analyst Blockchaineddbb’s analysis reveals the historical impact of losing the 200 daily EMA. Each time Bitcoin experienced this loss, its price declined by an average of 30%, with losses ranging from 8% to 50%. The breach of the 200 daily EMA signifies Bitcoin entering an unsafe territory, heightening investor concerns. To mitigate potential losses, the analyst suggests considering an exit point before the expected further decline to $50,000, which is the next significant support level. Navigating The Bearish Storm Blockchaineddbb provides average support levels to consider during the bearish sentiment for those who choose to hold their positions. These levels are estimated at $50,000, $48,000, and $44,000, with the latter being the worst-case scenario. Long-term holders are advised to adhere to their planned averaging strategy, which involves accumulating positions on specific dates such as June 22, September 22, and December 22. According to the analyst, the target exit price remains at $75,000, with expectations of achieving this milestone by December. Considering various factors, such as a predicted September dump, the Mt. Gox settlement deadline, and upcoming elections, the analyst suggested that the prevailing bearish sentiment will persist until December. Related Reading: Is This Bad For Solana? $180 Million Transfer Raises Eyebrows Ultimately, if the current bearish sentiment continues, altcoins are expected to suffer losses until the year’s end. It is worth noting that a potential shift in this scenario would only occur if Bitcoin manages to close above the 200 Daily EMA. However, the probability of that happening appears low. Currently, the Bitcoin price stands at $56,435, just below the critical $58,000 EMA, after falling as low as $53,500 in the early hours of Friday trading. Featured image from DALL-E, chart from TradingView.com
The post Bitcoin Whale Alert: Dormant Whale Resurfaces To Sell 1,004.5 BTCs Worth $56.9 Million! appeared first on Coinpedia Fintech News
A wallet holding 1,004.5 Bitcoins has resurfaced today during the early trading hours after being dormant for over 10 years. Reportedly, this whale had received two transactions of 620 BTCs and 383.99 BTCs on 25th November 2013 and 13th March 2014 which totaled 1,004.5 BTCs worth $738K at that time with an average price of …
The post Crypto Market Reversal: Is This the Right Time to Buy Bitcoin? appeared first on Coinpedia Fintech News
Bitcoin fluctuated in July and the past few months, but it dropped dramatically to $53,000, its lowest level since early this year. The pressing question on every Bitcoin investor’s mind is how far this downtrend will pull the price down. Let’s analyze the possibilities in depth. Are you ready? In his video analysis, Altcoin Daily …
Bitfinex Securities only managing to attract $342,000 from investors, more than $150,000 short of its first-deadline target.
LayerZero (ZRO) has become one of the first altcoins to bounce amid the market retrace. The token has registered green numbers despite its controversial token airdrop last month. As a result, investors and market watchers remain bullish on ZRO’s long-term performance. Related Reading: Cardano (ADA) Founder Claps Back At ‘Dead Coin’ Comments, Issues Reminder To The Community From ZRO To Market Hero In late June, the omnichain interoperability protocol LayerZero launched its long-awaited ZRO token. The launch, which included a token airdrop for the protocol users, received a negative response from the crypto community. Users found the airdrop’s claim mechanism to be a slap in the face for the community. Minutes before the launch, the LayerZero Foundation announced that a new ‘Proof-of-Donation’ claim mechanism would be used for those who wanted to receive their token allocation. The mechanism required users to donate $0.1 in USDC, USDT, or ETH, per token allocated. The donations would go directly to the Protocol Guild, a collective funding mechanism for Ethereum developers. LayerZero received backlash for this measure. Many community members found that the project was “milking” their supporters and lacked proper communication. As a result, the token saw a 38% drop following the launch. ZRO went from trading at its $4.57 all-time high (ATH) to trading as low as $2.83. The retrace continued as it reached its all-time low (ATL) of $2.48 a week after its launch. The token has since recovered by 53%. ZRO’s upward trajectory started last week as Bitcoin (BTC) regained its $60,000 support zone. The token moved from its ATL to a biweekly high of $4.2. However, LayerZero’s token followed the rest of the market in the retrace. BTC’s performance dragged ZRO back to the $2.75 level earlier today, but it has bounced over 20% in the last few hours. As of this writing, ZRO is one of the few altcoins registering green numbers in multiple timeframes. Moreover, the protocol’s token displays double-digit gains in the weekly and biweekly timeframes, with 40.2% and 22.1% price increases. Investors Bullish On LayerZero Following this performance, investors and market watchers expressed bullish sentiment regarding the token. Some traders assert that ZRO “held relatively well during the dump” and is now “recovering pretty hard.” Crypto trader CryptoKnight highlighted ZRO’s bounce and suggested that the token could reach $5 in the short-term timeframe. Similarly, SpiderCrypto believes that ZRO will hit $10 by the end of the year. To the market watcher, LayerZero is the “best infra company for those who believe in a multichain future.” Seemingly, users remain confident in the protocol despite the launch mishap. Some investors consider it one of the “cleanest brands around” with a token that “is not difficult to sell to people with a bit of FOMO.” Related Reading: Gala Games Announces Partnership With Animoca Brands, GALA Token Plunges 6.7% LayerZero Labs recently announced its integration with Flare, a data-focused blockchain, to enable Flare developers to connect with 75 other networks. Per the post, the integration will connect the blockchain with 50,000 dApps and offer access to a “vast quantity of new users and sources of liquidity.” At the time of writing, ZRO is trading at $3.81, representing a 21% increase in the last 24 hours. Featured Image from Unsplash.com, Chart from TradingView.com
As Bitcoin dips below the $55,000 mark, the implications for cryptocurrency mining are quite significant, raising concerns across the industry. Particularly, the recent drop in Bitcoin’s value has pushed the operational viability of many mining machines to their limits. A report from F2Pool, a leading Bitcoin mining pool, highlights that of the many mining machines […]
The post Trump’s Return To Whitehouse To Trigger Bitcoin Surge appeared first on Coinpedia Fintech News
Donald Trump’s potential return to the White House is expected to trigger a significant surge in Bitcoin’s value. The concept of a ‘Trump trade’ is increasingly gaining traction among crypto traders due to the former President’s perceived pro-crypto stance and policies. Bitcoin’s recent performance has been hindered by sales from miners and regulatory movements by …
The post Shytoshi Kusama’s Rare Public Appearance at IVS 2024 in Japan appeared first on Coinpedia Fintech News
The pseudonymous leader of Shiba Inu, Shytoshi Kusama, made a rare public appearance at the 2024 Infinity Venture Summit in Kyoto, Japan. Kusama met with Kazuichi Kumagai, a member of the Miyagi Prefectural Assembly in Japan, wearing a mask. He had previously revealed his arrival in Japan on Tuesday, stating his intention to engage with …
The post German Government Receives Back 1,915 BTC from Exchanges appeared first on Coinpedia Fintech News
In the latest development, the German Government received back 1,915 BTC, valued at $111.5 million, from addresses linked to Kraken, Bitstamp, and Coinbase exchanges last night. This morning, they moved 1,047.4 BTC out of their wallets. Out Of this, 547.4 BTC, valued at $30.1 million, went to Flow Traders. Another 500 BTC, worth $27.1 million, …
The post Ex-Goldman Sachs Analyst Labels Cardano And XRP ‘Cult Meme Coins’ appeared first on Coinpedia Fintech News
A former Goldman Sachs analyst has criticized two prominent cryptos, Cardano and XRP, as he labeled both the altcoins as cult meme coins, sparking heated debate within the crypto community. In a previous X post, he had implied that they have no intrinsic value and their price was driven more by community hype. In a …
Bitcoin has recently exhibited resilience that has surprised many market spectators. Following a dismal drop to a 24-hour low of $53,898, Bitcoin clawed its way back above the $56,000 mark, up 1.6% in the past hour. This rebound has been catalyzed by the latest US NFP report revealing a surge in the unemployment rate, which has sparked a surge in buying activity, momentarily easing the bearish pressure. However, this recovery may not signal a sustained upward trend, as experts hint at potential further declines. Related Reading: Bitcoin Price Crashes Below $54,000: Top-5 Reasons Analyst Bitcoin Predictions: A Potential Drop To $47k A prominent crypto analyst, Ali, has expressed concerns about Bitcoin’s current market positioning. Despite the recent price recovery, he suggests that Bitcoin could significantly drop to around $47,000. This prediction stems from his analysis of Bitcoin’s support levels, which he believes are insufficient to sustain a long-term bullish momentum. According to Ali, for Bitcoin to resume its bull run, it would need to “close and hold above $61,000″—a scenario that seems increasingly speculative given the current market condition. #Bitcoin currently lacks significant support. The main key demand wall is around $47,000, and for the bull run to resume, $BTC must close and hold above $61,000. pic.twitter.com/9cD2otd4ZK — Ali (@ali_charts) July 5, 2024 Amid these turbulent market conditions, other financial experts remain cautiously optimistic. Samson Mow, a notable figure in the cryptocurrency space, argues that the current price levels of Bitcoin are the result of artificial market manipulation. He particularly labels the drastic price movements as “artificial price suppression,” influenced by significant Bitcoin transfers by government entities during periods of low market liquidity. Mow’s assertion suggests that external market forces are at play, potentially skewing the natural price discovery process of Bitcoin. Surge In Volatility Ahead Meanwhile, Greek Live highlighted emerging volatility in the cryptocurrency market earlier today, focusing on the imminent expiration of many Bitcoin and Ethereum options. The report detailed that 18,000 BTC options and 164,000 Ethereum options are set to expire soon, representing notional values of $1 billion and $470 million, respectively. This situation is particularly notable due to the skewed Put Call Ratios and defined Maxpain points, suggesting potential price pivots at $61,500 for Bitcoin and $3,350 for Ethereum. The onset of July brought significant market downturns, hitting new monthly lows across major cryptocurrencies. The end of the quarterly cycle triggered enhanced market volatility, providing a strategic window for institutional players to establish positions. Related Reading: Bitcoin Nears Bottom? QCP Analysts Spot Signs of Capitulation as Prices Tumble Below $59K Furthermore, amidst a bearish market sentiment, there’s a noticeable increase in the implied volatility of put options for Bitcoin and Ethereum, indicating growing caution among traders. July 5 Options Data 18,000 BTC options are about to expire with a Put Call Ratio of 0.65, a Maxpain point of $61,500 and a notional value of $1 billion. 164,000 ETH options are due to expire with a Put Call Ratio of 0.36, a Maxpain point of $3,350 and a notional value of $470… pic.twitter.com/uAxOO5gDQ8 — Greeks.live (@GreeksLive) July 5, 2024 Greeks Live further reported that with the upcoming news on Ethereum ETFs and the attractive pricing of end-of-month call options, there’s a strategic opening for investors looking to capitalize on these market conditions. Featured image created with DALL-E, Chart from TradingView
The Mt. Gox bankruptcy saga seems to end as the long-awaited repayment process finally begins. On July 5, Mt. Gox, some creditors started receiving Bitcoin (BTC) and Bitcoin Cash (BCH) in their accounts. Some crypto investors worry about the impact it will have on the market. Related Reading: DraftKings NFTs Securities Trial Advances As Judge […]
As Bitcoin faces strong headwinds, breaching two critical support levels at $60,000 and $56,500 in quick succession, it may, on the surface, appear that fear is gripping the market. There are reasons to be afraid, especially for coin holders leveraging BTC in decentralized finance (DeFi) protocols, looking to take out loans using the asset as their collateral. Fear Is Yet To Grip The Bitcoin Market Even as prices plunge, one on-chain analyst, taking to X, argues that the market is relatively composed and fear and panic haven’t fully gripped it yet. Pointing to the Bitcoin Daily Realized Profit Loss ratio, the analyst said that unless there is an uptick in the number of addresses in red, pointing to panic selling, the market can withstand more losses. Per the analyst’s assessment, the absence of “panic selling” bars suggests that investors are still processing the current events. Even as prices crater below $56,500, the market, the analyst added, can fall to as low as $47,000, a level that “doesn’t look as terrible as it did three weeks ago when we were at 70,000.” Related Reading: Is This Bad For Solana? $180 Million Transfer Raises Eyebrows Nonetheless, amid this necessary correction, the analyst added that the shakeout should be slower. In this way, there will be a more orderly market correction. As of July 5, Bitcoin fell nearly 30% from all-time highs and is under immense selling pressure. Following the drop below $56,500 earlier today, it is evident that the coin is now within a bear breakout formation. The sell-off forced prices from the March to May 2024 range. This signals a new phase after expansions in Q1 2024 when the coin roared to $73,800. Analysts expect more losses with sellers in the driving seat and Bitcoin within a bear breakout formation. Thus far, the immediate support is at $50,000 and $45,000, marking January 2024 highs. Best Time To Buy Bitcoin? Wait For This Signal While the drop is forcing investors to seek refuge in stablecoins, another analyst thinks this could be the best time to scoop more BTC at a discount. Taking to X, the analyst pointed out several fundamental factors that paint a long-term bullish picture. Related Reading: This Dormant Bitcoin Wallet Holding $6.8 Million BTC Just Reactivated, Are They Selling? Some of these tailwinds include the availability of spot Bitcoin exchange-traded funds (ETFs). There’s also regulatory clarity in the United States ahead of the highly contested presidential election. At the same time, the analyst is convinced the upcoming $16 billion payout by FTX trustees would be a net positive for optimistic BTC bulls. Even so, before there is stability and this week’s sell-off countered, there must be an uptick in new addresses. Once this is observed, it would mean that new investors are pouring in, creating demand for the coin. For now, prices are plunging, and fewer addresses are being created. Feature image from DALLE, chart from TradingView
In a significant development for the cryptocurrency industry, FTX, the exchange that collapsed in November 2022 under the leadership of convicted Sam Bankman-Fried, is preparing to distribute a staggering $16 billion in cash to its customers, which could lead to significant gains for Bitcoin (BTC) and Solana (SOL) prices. Crypto researcher Xremlin has predicted that a considerable portion of this cash will flow back into the crypto market, serving as a catalyst for growth towards the end of the year. FTX $16 Billion Cash Injection In a recent social media post, Xremlin highlighted the significance of the distribution, emphasizing that it involves returning $16 billion in cash to individuals already involved in the crypto space. Xremlin believes that a significant portion of this money will be reinvested in the market, specifically in purchasing various tokens, including Bitcoin and Solana, creating significant buying pressure and price growth for both cryptocurrencies. Related Reading: Is This Bad For Solana? $180 Million Transfer Raises Eyebrows The source of this massive cash injection can be traced back to FTX’s agreement with US government agencies, where assets acquired with misappropriated customer funds were sold. These assets encompassed investments in cryptocurrencies, tech companies, venture funds, and real estate. Following the sale of shares in AI startup Anthropic, where FTX had previously invested $500 million, the distressed exchange found $6.4 billion in cash. It is important to note that the amount also includes assets controlled by debtors and liquidators. However, the distribution has faced dissatisfaction among some clients due to settling customer claims based on lower cryptocurrency prices from November 2022, when FTX filed for bankruptcy. For instance, clients holding 10 Ethereum’s native token ETH in their accounts will receive approximately $12,000 in cash, significantly lower than the asset’s current worth of around $29,000 as ETH trades at $2,900. Despite objections, the court has approved creditor voting on the liquidation plan, and if passed by the necessary number of votes, the plan will be implemented after final court approval. Buying Frenzy For Bitcoin, Ethereum, And Solana? Key dates to watch for further developments include August 16, 2024, which marks the deadline for FTX customers to vote on the bankruptcy wind-down payments, and October 7, 2024, when Judge John Dorsey will consider approving the FTX bankruptcy plan. If the current plan is approved, clients can expect payouts to begin by the end of Q3, potentially providing much-needed liquidity for token purchases. This timing coincides with the US elections, which could contribute to increased market volatility. Consequently, FTX payouts could serve as an additional factor fueling a bullish trend in the crypto market as it finds itself in significant price declines. Related Reading: Dogecoin Decimated: $5 Million Liquidation Sparks 14% Price Plunge Bitcoin has fallen over 21% in the past month at one end of the market, from a high of $71,000 to a current trading price of $56,400. Meanwhile, Solana surpasses BTC’s losses with a 22% drop in the same time frame, currently trading at $134. Furthermore, it is expected that the ongoing selling pressure from the US and German governments witnessed over the past month could continue for the rest of the year, and the cash injection from FTX to crypto investors could help mitigate the expected selling pressure. The researcher points out that since most affected FTX customers are retail crypto investors, a significant portion of the money is expected to flow back into cryptocurrencies. Bitcoin, Ethereum, and Solana are likely to receive the most liquidity. Featured image from DALL-E, chart from TradingView.com
While the House and Senate already voted to overturn SAB 121, it will need a two-thirds majority vote from both chambers to invalidate Biden’s veto.
On-chain data shows the Bitcoin whales took part in significant net distribution in the past month, potentially feeding into BTC’s bearish momentum. Bitcoin Whales Have Been Selling Amid Bearish Market As pointed out by analyst Ali in a new post on X, the BTC whales have been selling recently. The on-chain indicator of interest here […]
The crypto market is currently navigating through a turbulent phase, particularly for Ethereum, which has seen a significant downturn of nearly 15% in its value over the past week. Amid this negative price performance, Peter Schiff, a well-known economist and a skeptic of cryptocurrencies, has chosen to add salt to the wounds by projecting a stark prediction for ETH. According to Schiff, Ethereum could plummet to as low as $1,500, marking a substantial decline from its current levels. Related Reading: Ethereum Dives Below $3K: What’s Next For The Crypto? Shiff’s Bearish Outlook And Community Reaction Schiff’s prediction comes when Ethereum is trading below the previous crucial support of $3,000 mark, a sharp 30% fall from its peak above $4,500 in March. This decline coincides with heightened speculation surrounding the potential launch of an Ethereum spot exchange-traded fund (ETF), which seems to have triggered a premature sell-off among investors instead of propelling the price. Schiff’s commentary suggests that the market’s response to the ETF rumors has been to liquidate positions rather than hold, adding further downward pressure on Ethereum’s price. He expressed his view on Elon Musk’s social media platform, X, stating, “It looks like those buying the Ethereum ETF rumors couldn’t wait for the fact to sell,” indicating a market driven by speculation rather than sustained investment confidence. While Schiff’s bearish outlook has garnered attention, it has also sparked a mix of skepticism and agreement within the crypto community. Users have expressed varying opinions on social media platforms, with some questioning the technical basis of Schiff’s $1,500 target. Others humorously noted that Schiff’s pessimistic predictions often come at market bottoms, suggesting his views might inadvertently signal a buying opportunity. For instance, one user remarked on the irony of Schiff’s timing, indicating that his bearish predictions could contradict market sentiment indicators. thx for your inputs you do realize you only become relevant on this side of twitter as a bottom signal lol youre like those acoustic wif kids who had a stroke on stage the wif party as a top signal — agent pretzel (@agent_pretzel) July 5, 2024 Ethereum Faces Critical Juncture Ethereum is experiencing a significant downturn, trading at $2,975—a 4.2% drop over the past day. This decline and Bitcoin’s similar trajectory have led to a 4.1% reduction in the global cryptocurrency market cap, erasing more than $200 billion in value. According to Coinglass, this downturn has triggered substantial losses for traders, with 207,020 liquidations in the past day, totaling $576.53 million. Ethereum-related liquidations account for $134.58 million, predominantly from long positions. While Peter Schiff’s outlook may seem too pessimistic amid these market conditions, another voice in the crypto analysis sphere, Inspo Crypto, offers a slightly more moderate view. He notes that Ethereum’s price has fallen to early May levels and suggests that the next 8-hour trading window could be crucial in determining the market’s direction. Related Reading: Analyst Predicts Ethereum Nosedive, Cautions Investors To Prepare For $2,700 Target If Ethereum can rise above these levels, it might potentially ease the bearish trend. However, failure to reach the $3,170 mark (which it already has) could lead to further declines, possibly down to $2,700, exacerbating losses across the altcoin market. $ETH has broken down below $3,170. The next 8 hours (1D candle) will show whether the bulls have given up or not. If the price retraces back above, we should consider this a deviation. But if $ETH instead retests the lower trend channel next at $3,170 unsuccessfully, it could… pic.twitter.com/1msfKQBf2v — InspoCrypto (@InspoCrypto) July 4, 2024 Featured image created with DALL-E, Chart from TradingView
The president's chances of reelection remain 12% and his probability of dropping out stayed at 63%, according to traders on the crypto-based prediction market platform.
OpenAI experienced a security breach in 2023 but did not disclose the incident outside the company, the New York Times reported on July 4. OpenAI executives allegedly disclosed the incident internally during an April 2023 meeting but did not reveal it publicly because the attacker did not access information about customers or partners. Furthermore, executives […]
The post OpenAI did not reveal security breach in 2023 – NYT appeared first on CryptoSlate.
In a scathing critique of the recent Bitcoin management strategy of the German government, Joana Cotar, a member of parliament has openly expressed her disapproval of the plan to sell off its BTC holdings during a volatile time in the market. Cotar, a well-known supporter of innovation and digital assets in the Bundestag, contended that […]
The cryptocurrency market experienced a substantial downturn on Friday, compounding the selling pressure witnessed over the past two weeks. The leading cryptocurrency, Bitcoin (BTC), retraced over 20% from its highs in June and May, dropping as low as $53,500. The market decline was largely attributed to the long-awaited trustee overseeing the Mt. Gox bankruptcy, who announced the commencement of Bitcoin and Bitcoin Cash repayments to creditors affected by the infamous hack that resulted in billions in losses. As a result, the entire cryptocurrency market shed over $170 billion in combined market capitalization in just 24 hours. Bitcoin Repayments And German Government Sell-Off The trustee responsible for the Mt. Gox bankruptcy estate, Nobuaki Kobayashi, stated that Bitcoin and Bitcoin Cash repayments had begun through designated crypto exchanges. While the amount transferred to these exchanges was not specified, data from market intelligence platform Arkham revealed that 47,229 BTC, valued at $2.71 billion, had been transferred to an unknown address. Related Reading: Polkadot Under Fire: 20% Price Drop Follows $87 Million Spending Outrage Kobayashi emphasized that the remaining funds would be returned to creditors once “specific conditions” were met, including verifying registered accounts and finalizing discussions with the designated exchanges. The decline in crypto prices led to substantial liquidations in the derivatives markets, with over 229,755 traders experiencing combined liquidations worth $639.58 million in the past 24 hours. Of this amount, $540.46 million represented long trades, indicating positions taken by investors expecting long-term asset appreciation. Additionally, the German government contributed to the market pressure by selling approximately 3,000 BTC, equivalent to around $175 million, from a seized stash of 50,000 BTC associated with the movie piracy operation Movie2k. Despite the sell-off, the government still holds over 40,000 BTC, valued at over $2 billion. What Historical Price Cycles Suggest Despite the ongoing bloodbath witnessed in crypto prices over the past month, industry insiders and analysts remain optimistic about Bitcoin’s future performance. Despite the short-term selling pressure resulting from Mt. Gox repayments, experts anticipate a rebound towards the end of the year. Crypto data and research firm CCData suggested that Bitcoin’s current appreciation cycle has not yet peaked and will likely achieve a new all-time high. Historical market cycles indicate that Bitcoin’s Halving event, which reduces the supply of new BTC, typically precedes a period of price expansion between 12 and 18 months. The most recent Halving occurred in April, suggesting potential further growth into 2025. Related Reading: Dogecoin Decimated: $5 Million Liquidation Sparks 14% Price Plunge Tom Lee, co-founder and head of research at Fundstrat Global Advisors, told CNBC that he predicts that Bitcoin will hit $150,000 despite the Mt. Gox overhang. The launch of an Ethereum exchange-traded fund (ETF) in the US and the approval of the first US spot Bitcoin ETF earlier this year contribute to the overall positive sentiment in the market, indicating potential growth and further mainstream adoption of cryptocurrencies. At the time of writing, BTC is trading at $55,680, reflecting a significant 21% drop in price over the past month. Bulls in the market are closely monitoring the $54,480 price level, representing substantial support for BTC. This level holds critical importance as it could prevent further price declines and the risk of breaking below the crucial $50,000 level. Featured image from DALL-E, chart from TradingView.com
The so-called JEST approach is up to 13 times faster and 10 times more efficient—which could mean lower energy demands.
Multicoin Capital will match Solana (SOL) donations to the Sentinel Action Fund, a political action committee (PAC) supporting pro-crypto Republican senators, for up to $1 million over 10 days. On July 5, Multicoin Capital Managing Partner Kyle Samani said the firm’s involvement will “double the impact” of donor contributions. Samani explained the company’s reasons for […]
The post Multicoin Capital to match up to $1 million in SOL donations to Republican crypto PAC appeared first on CryptoSlate.
Former Goldman Sachs analyst, Murad Mahmudov has unexpectedly criticized two prominent cryptocurrencies, Cardano (ADA) and XRP. The analyst has labeled both altcoins as cult meme coins, sparking heated debate within the crypto community. Analyst Claims XRP And Cardano Are Cult Meme Coins In an X (formerly Twitter) post on June 4, Mahmudov declared that XRP […]
Holders of the top meme coins have witnessed rough price action in the past few weeks. The majority of meme cryptos have crashed hard during the last week, with losses of over 20% in each asset across the board. Particularly, holders of the top meme coins Dogecoin, PEPE, and Shiba Inu have been disappointed, as the price drop means many of them have now fallen out of profitability. Interestingly, IntoTheBlock’s “In/Out Of The Money” metric shows a varying level of profitability in each meme coin, and it seems like SHIB holders are currently feeling the heat the most. Comparing The Profitability Of The Top Meme Coins Dogecoin, Shiba Inu, and PEPE are the top OG meme coins. Dogecoin and Shiba Inu have grown over the years and are pushing themselves to the very best as they look to upgrade from the meme token status. PEPE, the newest of the bunch, recently joined the ranks after strong rallies in. Related Reading: Bitcoin Completes 9th Test Of $60,000, Where Does Price Go From Here? March and May. However, recent market dynamics have seen these fun-branded cryptocurrencies taking a brutal beating, with each plunging over 20% and over 40% in the past seven and 30 days respectively. Dogecoin, the OG meme coin and king of the meme market, has plummeted by 24% and 41.8% in the past seven and 30 days, respectively. The self-proclaimed “Dogecoin killer,” Shiba Inu, has also lost some of its bites in recent weeks and is down by 23.5% and 49% in the past seven and 30 days, respectively. Even the internet’s favorite frog, PEPE, couldn’t escape the downturn. The meme-inspired crypto has been down by 34.5% and 45.6% in the past seven and 30 days, respectively. IntoTheBlock’s profitability metric follows wallets that are “in the money,” “at the money,” and “out of the money.” “In the money” tracks those making a profit at the current price, while “out the money” tracks those in losses. According to the Global In/Out of the Money, 3.43 million Dogecoin addresses, representing 54.05% of total addresses, are still in profit, while 1.77 million addresses, representing 27.93% of total addresses, are now at a loss. Similarly, 58% of PEPE holders (155,810 addresses) are in the money, while 32.36% (86,940 addresses) are in losses. On the other hand, only 20.47% (274,540 addresses) of SHIB holders are making money at its current price, while a 52.46% majority (703,700 addresses) are swimming in losses. Related Reading: Bitcoin Closes CME Gap, Expert Predicts What Happens Next Is It Time To Buy Dogecoin, Shiba Inu, And PEPE? At the time of writing, Dogecoin is trading at $0.09535, Shiba Inu is trading at $0.00001321, and PEPE is trading at $0.000007991. While all three cryptos are still at risk of further price declines, the recent double-digit dips may present an attractive opportunity for meme coin enthusiasts to “buy the dip.” Featured image created with Dall.E, chart from Tradingview.com
CryptoQuant analysts say Bitcoin miners are showing signs of “capitulation” as profit margins tighten in the post-halving climate and BTC price falls close to $50,000.
Taiwan’s second-largest telecom has found a way into the crypto market, bring resources and experience with it.
Sanctions from the United States, spiraling inflation and government corruption have created an economic nightmare for Venezuelans.
Several parties have filed amicus briefs with the appellate court in support of Custodia Bank receiving approval for a master account from the Federal Reserve.
Former President Donald Trump’s potential return to the White House is expected to trigger a significant surge in Bitcoin’s value, the Financial Times reported July 5, citing various analysts. According to the FT, the concept of a “Trump trade” is increasingly gaining traction among crypto traders due to the former President’s “perceived pro-crypto stance and […]
The post Bitcoin traders eye Trump victory as potential market boost – FT appeared first on CryptoSlate.