Polkadot’s ecosystem remains robust despite recent market downturns that briefly pushed DOT’s value to a seven-month low. Polkadot ecosystem thriving Data from DotLake shows a 33% month-on-month increase in transactions within Polkadot’s ecosystem, rising to 16 million in June from 12 million in May. The growth was primarily driven by One Frequency, a Layer 1 […]
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The judgment was issued to help podcaster Peter McCormack recover nearly $2 million in legal expenses from a defamation lawsuit filed by Wright.
The Shiba Inu team has announced their first-ever meet and greet, offering the Shibarmy a rare opportunity to connect with key members of the Shiba Inu development and promotion team. The community is filled with excitement and anticipation for the upcoming event set to take place in the city of Kyoto, Japan. Shytoshi Kusama Announces […]
The strong bounce in Bitcoin and select altcoins shows solid demand at lower levels, suggesting traders are buying the current dip.
On-chain data shows that Shiba Inu (SHIB) has witnessed a massive decline in whale activity. This is significant for the meme coin’s ecosystem, considering the impact these investors usually have on Shiba Inu’s price. Shiba Inu’s Whale Activity Declines By Over 100% Data from the market intelligence platform IntoTheBlock shows that Shiba Inu’s whale activity has declined by over 100% in the last seven days. This is based on the large holders’ netflow metric, which indicates when these whales are adding to their positions or offloading their tokens. Related Reading: Bitcoin Closes CME Gap, Expert Predicts What Happens Next The 100% decline in large holders’ netflow points to these whales opting against accumulating and selling their Shiba Inu tokens instead. The large holders’ outflow metric also points to these whales offloading their tokens, as there has been an 18% increase in the amount of Shiba Inu tokens leaving these whales’ addresses in the last seven days. Meanwhile, in the same period, there has been an almost 23% drop in the large holder inflows, which suggests that more whales are opting against adding their Shiba Inu positions. This is evidently bad for the Shiba Inu ecosystem as significant selling pressure from these whales could further make the meme coin’s price tumble. Other on-chain metrics also paint a bearish outlook for the meme coin. For instance, data from IntoTheBlock shows that the ‘In The Money’ metric is bearish, as 52.46% of Shiba Inu addresses are currently at a loss. This could pile more selling pressure on the meme coin as more investors look to cut their loss, fearing that Shiba Inu could further decline from its current price level. Shiba Inu also risks losing most of the gains it made earlier this year if it fails to hold above its current support level. The In the Money metric shows that most addresses currently invested in Shiba Inu bought the meme coin at its current price range. As such, a decline below this range could send the crypto token on a free fall to levels not seen in a while. Bitcoin Making Matters Worse For Shiba Inu Data from IntoTheBlock shows that Shiba Inu has a strong positive price correlation with Bitcoin. This has also significantly contributed to the downtrend that the meme coin is currently facing. SHIB’s price correlation with Bitcoin seems to be why the second-largest meme coin by market cap has been one of the most affected since the flagship crypto dropped below its crucial support level at $60,000. Related Reading: XRP Stars Align: Indicators Point To Possible 7,500% Rally To $35 Shiba Inu’s price correlation with Bitcoin suggests that things could get worse for the meme coin. The flagship crypto is still facing intense selling pressure and is at risk of further price declines in the coming days. SHIB is currently trading at around $0.00001327, down over 14% in the last 24 hours, according to data from CoinMarketCap. Featured image created with Dall.E, chart from Tradingview.com
The post FTX Founder SBF’s Family Caught in $100M Election Fund Scam! appeared first on Coinpedia Fintech News
Recently the Wall Street Journal has revealed a shocking financial scandal involving Sam Bankman Fried (SBF) and his family, he is the person who founded the now closed crypto exchange FTX. The Bankman family is accused of misusing over $100 million of FTX customer funds to finance political contributions aimed at influencing the 2022 election. …
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Recently the Wall Street Journal has revealed a shocking financial scandal involving Sam Bankman Fried (SBF) and his family, he is the person who founded the now closed crypto exchange FTX. The Bankman family is accused of misusing over $100 million of FTX customer funds to finance political contributions aimed at influencing the 2022 election. …
Former Solicitor General Donald B. Verrilli, who served during the Obama administration, has accused US regulators of intentionally stifling the crypto industry through debanking practices. Verrilli, who now serves as Grayscale Investments’ senior legal strategist, made the remarks in a joint amicus brief filed on July 3 with Paul Clement, the former Solicitor General under […]
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The post Shiba Inu Crashes 70%: Fear Grips Shib Army appeared first on Coinpedia Fintech News
Shiba Inu’s price has continued to fall and it has now dropped for three straight days, reaching a low of $0.00001271.This is the lowest level since March 1st. It has crashed by almost 70% from its highest point this year, performing worse than major coins like Bitcoin and Ethereum. Crypto Fear and Greed Index Hits …
At least one industry leader suggested that crypto policy in the United Kingdom would be “business as usual” despite the change in government.
On-chain data shows the Bitcoin diamond hands holding since more than five years ago have continued to be stalwart despite the latest crash. Over 30% Of The Entire Bitcoin Supply Hasn’t Moved In 5 Years Or More In a new post on X, the market intelligence platform IntoTheBlock talked about what the percentage of the […]
Taiwan Mobile, the second-largest telecom operator in Taiwan, has applied for a license to operate as a Virtual Asset Service Provider (VASP). The Financial Supervisory Commission’s latest report lists Taiwan Mobile as the 26th VASP and includes a list of Virtual Currency Platform Operators compliant with Money Laundering Prevention Laws. Lin Zhichen, the company’s General […]
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The problem has since been resolved, but it begs the question of how such an oversight happened in the first place.
Two former executives of Tether-backed German tech company Northern Data have filed suit against the firm, alleging that they were wrongfully terminated after raising concerns about the company’s financial health and alleging tax evasion.
In a tumultuous day for cryptocurrencies, the price of XRP plummeted to a low of $0.38249 on Bitstamp, reflecting a broader downtrend affecting the altcoin market. With a notable 12.4% decrease in the last 24 hours, XRP is facing crucial support. Despite this substantial decline, Dark Defender (@DefendDark), a noted crypto analyst on X, continues to uphold a bullish outlook on XRP’s future prospects. XRP Price Needs To Hold $0.39 In his analysis of the 1-month XRP/USD chart, Dark Defender notes specific key levels and indicators. He points out that “XRP hit our last support level of $0.3917 after staying under $0.4623 for 3 consecutive candles.” This observation is crucial as it highlights the resilience of XRP at a significant support level—the Point of Control (POC). Related Reading: XRP Stars Align: Indicators Point To Possible 7,500% Rally To $35 The POC, where Dark Defender indicates “Green Dotted Line – the price level where most trades took place since 2014,” stands at $0.3917. This level serves as a focal point for trader consensus on value, historically providing a strong foundation for the price. The recent touch of this level suggests a testing ground where bullish sentiments could potentially stabilize and reverse the downtrend. The chart by Dark Defender also includes Fibonacci retracement levels, which are pivotal in identifying potential support and resistance areas based on previous price movements. According to Dark Defender, the $0.4623 level, corresponding to the 38.20% Fibonacci retracement, poses a significant resistance. Should XRP rise above this threshold, it might pave the way for further gains towards higher Fibonacci levels such as $0.6649 and $1.8815, which correspond to 70.20% and 161.80% retracements, respectively. Dark Defender highlights the Relative Strength Index (RSI), stating, “XRP Daily & weekly RSI are at the bottom and oversold.” This indicates that the asset is potentially undervalued, and such conditions often precede a price recovery. He also compares the current monthly RSI levels to those seen during major market bottoms in March 2020 and November 2022, suggesting a possible repeat of the recovery patterns observed during those periods. Related Reading: 200 Million XRP Tokens On The Move, Where Are They Headed? The volume profile on the chart underscores the presence of substantial trading activity at and around the POC. This high volume at lower prices signals robust buying interest, which could cushion further drops and establish a strong support base. Overall, Dark Defender presents a case for a potential bullish reversal for XRP. His scrutiny of support levels, particularly the resilience at $0.3917, coupled with oversold RSI conditions and a historically significant trading volume at this price, paints a picture of possible upward momentum. As the market digests these levels, the ability to sustain above $0.3917 will be critical in determining its short-term price trajectory, potentially mirroring the recovery phases of 2014-2017. From March till Mai 2017, XRP rallied by more than 6,600% from below $0.006 to $0.40. If history repeats, the XRP price could be set for a massive rally. However, Dark Defender’s closing remark, “The 2014-2017 pattern is still identical unless the $0.3917 is not protected. I will keep you updated,” underscores the pivotal nature of this support level in the ongoing market dynamics. At press time, XRP traded at $0.41042. Featured image created with DALL·E, chart from TradingView.com
Crypto phishing exploits in the first half of this year reached $341 million, surpassing the $295 million scammers siphoned from victims in 2023, according to blockchain security firm Scam Sniffer. Security expert and SlowMist founder Yu Xian said the phishing incidents of the first half of the year showed that the profit margin of these malicious attacks […]
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Russia’s pivot towards stablecoins comes against the backdrop of its chairmanship of the BRICS group (Brazil, Russia, India, China, and South Africa). The BRICS nations have previously discussed the creation of a digital currency-based payment system, the BRICS Bridge, to reduce reliance on the US dollar-dominated global financial system. Related Reading: Bitcoin Sideways Amid Fed […]
Private equity firms are now looking at bitcoin miners in a much more different way after Core Scientific signed 200MW deal with CoreWeave in June, the company’s CEO said in an exclusive interview with CoinDesk.
The widely-followed sentiment metric hit extreme greed levels earlier in March near the local top of the crypto market, but now is pushing its limits in the opposite direction.
The European Banking Authority (EBA) has updated its Travel Rule guidelines to include crypto service providers and intermediaries, according to a July 4 statement. Starting Dec. 30, 2024, crypto exchanges in the European Union must follow the Travel Rule guidelines (EU-2023/1113). The rule mandates that exchanges report information on funds and crypto asset transfers. It […]
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BTC price action attempts to recover from the start of Mt. Gox transfers, but analysis argues the need to wait for longer-term confirmation of trend change.
The family of Binance executive Tigran Gambaryan said that he is "suffering immensely" in detention—but Nigerian officials don't agree.
The post Reasons Bitcoin Might Crash to $48,500 Soon appeared first on Coinpedia Fintech News
Amidst the long awaited Mt. Gox repayments and Germany selling its seized BTC, the market is drowning in negative sentiments. The 4 hour RSI chart hit a low of 17.88 as soon as the trading opened in Asian countries and it started to display bad signals. This level of fear and uncertainty is palpable, making …
Bitcoin could rise due to a weaker job market, but Bitcoin ETFs are on track to their third consecutive week of net negative outflows.
Jamie Coutts, the chief crypto analyst at crypto firm Real Vision, recently ranked layer-1 networks using their network growth. Interestingly, the networks that topped the list aren’t the usual names that crypto community members might be accustomed to. SUI And Mantle Network Top The List According to the list that Coutts shared on his X […]
Last night’s landslide victory of the UK’s Labour Party in the general election saw little to no mention of Bitcoin, blockchain, or digital assets. Leading up to the election, the party’s manifesto remained silent on crypto or Bitcoin at a time when the topic is becoming increasingly prevalent in the US election race. However, Labour’s […]
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“Ethiopia at the Crossroads” is getting a special blockchain boost for its final stint at the Toledo Museum of Art as part of the Ethiopian family art collective’s residency with the museum.
Bitcoin has recently been plagued with massive selling pressure, with different entities looking to offload their holdings. This time, on-chain data shows a dormant Bitcoin wallet that transferred over $6.8 million in Bitcoin, suggesting that this whale may also be looking to sell their tokens. Dormant Bitcoin Wallet Transfers Funds For First Time In 12 Years On-chain data shows that a Bitcoin wallet (1Nxxi) that had been dormant for 12 years transferred funds for the first time on July 4. The wallet contained $6.8 million worth of Bitcoin, with all these funds moved in two separate transactions. 76 BTC ($4.46 million) was initially sent from the wallet to an unknown address (3Ctd5), and 43 BTC ($2.46 million) was sent in the second transaction to the same unknown address. Related Reading: XRP Stars Align: Indicators Point To Possible 7,500% Rally To $35 The last outflow from this address came in 2012 when 2.98 BTC was sent to an unknown address. These recent transactions have raised concerns for the crypto community because they suggest that the whale in question may be looking to offload its holdings. They also come at a time when Bitcoin is facing significant selling pressure. As such, a sale of such magnitude could compound Bitcoin’s problems and lead to further declines for the flagship crypto. However, on-chain data shows that the 119 BTC that was transferred is still intact in the unknown address (3Ctd5) to which it was sent. This is undoubtedly a relief for the crypto community since these tokens would have long been sent to an exchange if this whale was looking to offload their holdings. In the meantime, Bitcoin is still facing intense selling pressure from other entities, including the German government. On-chain analytics platform Arkham Intelligence revealed that the German government is selling up to $175 million worth of Bitcoin. In the last 24 hours, they have moved 1,300 BTC ($76 million) to Kraken, Bitstamp, and Coinbase. They also transferred 1,700 BTC ($99 million) to an unknown address (139Po). Arkham claimed that the funds to this unknown address are likely deposits for an institutional service or OTC. Mt. Gox Begins Repayments To Creditors Defunct crypto exchange Mt. Gox recently announced that it has begun repayments to its creditors. The rehabilitation trustee for the crypto exchange is said to have already made Bitcoin repayments to some rehabilitation creditors through designated crypto exchanges. This news is significant as it is set to pile more selling pressure on the flagship crypto, with some of these creditors likely to liquidate their holdings upon receipt of their repayment. Mt. Gox is expected to pay its creditors up to $9 billion worth of crypto, with Bitcoin accounting for most of these tokens. Related Reading: XRP Price Attempts Bullish Decoupling Amid Major Developments At the time of writing, Bitcoin is trading at around $54,300, down over 7% in the last 24 hours, according to data from CoinMarketCap. Featured image created with Dall.E, chart from Tradingview.com
The post Binance’s Major Updates On Futures Trading & ASI Token Merger appeared first on Coinpedia Fintech News
Binance, in its recent announcement, promises to enhance futures trading and introduce a significant token merger. This week, Binance introduced a ‘Trailing Down’ feature for its futures grid trading bot allowing the bot to adjust lower limits automatically with falling prices, offering users a more dynamic trading tool. Binance also announced the completion of a …