Since launching in September 2023, Opera Mini’s MiniPay app has amassed 3 million users.
An Illinois judge has sided with the Commodity Futures Trading Commission in a crypto fraud case, labelling two altcoins, OHM and KLIMA, as commodities.
A Texas bag retailer sued the SEC to get legal protection for a token airdrop, but the regulator says the suit was based on a policy that doesn’t exist.
Web3 and blockchain gaming firm Gala Games partnered with Animoca Brands to boost its native token. The companies joined forces to develop the altcoin and enhance users’ experience. Nonetheless, GALA has faced a 6.7% price decline following the news. Related Reading: FET Drops 9% As ASI Token Merger Phase 1 Kicks Off Gala Games To Boost User Experience On Wednesday, Gala Games announced its partnership with Hong Kong-based game software and Venture Capital company. The collaboration aims to enhance the token experience for users. The Web3 and blockchain gaming platform focuses on video games compatible with blockchain technology. Additionally, it allows players to earn crypto tokens and non-fungible tokens (NFTs) through gameplay. Per the announcement, the companies will work together to develop the token. Animoca Brands will receive GALA tokens from the firm’s treasury to “provide liquidity provisioning services” to the Web3 gaming platform. This move aims to facilitate the token’s orderly trading. As highlighted in the X post, Animoca Brands operates nine Gala Founder’s Nodes and plans to serve as a GalaChain Validator. Many users and crypto investors received the news well. Some users considered the news was bullish for the token. Others stated that the company is finally “making some noise.” The announcement also sparked interest in the gaming and NFT community. LordBenalez, COO of community-driven NFT project Mittaria, expressed interest in the collaboration. “About time. Glad to see the two big companies joining hands. Looking forward to hearing more about the collaboration,” read the reply. GALA’s Price Sees 7% Retrace Despite the overall positive reaction, GALA’s price plunged after the news. The token fell from the $0.0275 price range to the $0.0255 mark, a 7.2% price drop. The recent price action represents a 6.7% retrace in the last 24 hours. The token’s performance also shows red numbers in the longer timeframes. GALA’s price has been downtrend since its March high of $0.081. Following the retrace at the beginning of Q2, the token hovered between the $0.04 and $0.5 range. However, the sideways movement was halted by the late May security breach to which the company fell victim. As reported by NewsBTC, the web3 gaming company suffered an exploit, which resulted in the minting of 5 billion tokens worth $219 million. The incident saw the unauthorized sale of 600 million GALA tokens, worth around $21 million. Additionally, 4.4 billion tokens were burned. This resulted in the price falling from $0.046 to $0.037, a 20% decline following the exploit. Related Reading: Baked Or Burned? Trader Makes 307x From Solana Token But Investors Raise The Alarm Since then, the token has continued the downtrend, registering a 43.5% decrease in the past month. Some market watchers suggest that the token might be getting ready to bounce off the lower trendline and break out of the $0.035 resistance zone before soaring to the $0.1 price target. Featured Image from Unsplash.com, Chart from TradingView.com
Hong Kong’s financial regulators are taking a measured approach to cryptocurrency regulations, responding with a constant change to market developments. Christopher Hui, the Treasury chief, recently emphasized the government’s strategy of continuously monitoring and adapting crypto-related rules to match the evolving industry. This comes amidst concerns about whether regulatory frameworks could suppress innovation or fail […]
The post Cryptocurrency Market Crash: $90 Billion Erased From Global crypto Market Cap Within Hours! appeared first on Coinpedia Fintech News
The cryptocurrency market has recorded a negative price action for the third consecutive day, indicating increased bearish sentiment. Further, the cross-border market has recorded a correction of $90 Billion within the past day, from $2.26 Trillion to $2.17 Trillion, a drop of 3.67%. Furthermore, the market leader, Bitcoin price has plunged 3.27% with a 24-hour …
Nintendo's president said his company would not use AI technology for upcoming titles due to concerns over intellectual property rights.
Nintendo's president said his company would not use AI technology for upcoming titles due to concerns over intellectual property rights.
In a turbulent 24-hour trading session, the cryptocurrency market saw nearly $200 million wiped out in liquidations as Bitcoin price dropped below $61,000. This sharp decline triggered a wave of liquidations, affecting many investors and traders. Market Meltdown And Crypto Liquidation The total market valuation has plunged by approximately 2.7% to around $2.34 trillion, underscoring heightened volatility and market stress. Related Reading: Bitcoin Price Drops Below $60,000: Key Reason Explained Bitcoin, leading the downturn, shed 1.3% over the week, with a steep 2.8% drop recorded in the last day. This downturn has not only decreased the value of many investors’ portfolios but has also led to substantial losses for traders via liquidations. Data from Coinglass highlights the extent of the carnage, with 59,816 traders liquidated and total liquidations amounting to $170.72 million. The liquidations were predominantly from long positions, suggesting that many traders expected the market to rally. Bitcoin traders faced approximately $45.76 million liquidations, with Ethereum and Solana traders experiencing $44.55 million and $11.09 million, respectively. The arena for these liquidations was on major exchanges like Binance, OKX, Huobi, and Bybit, with Binance traders bearing the brunt at $74.77 million. While other exchanges such as OKX, Huobi, and Bybit also experienced significant liquidations, amounting to $54.29 million, $19.28 million, and $12.93 million, respectively. Despite also facing liquidations, the smaller exchanges had a comparatively minor impact. Analysts’ Viewpoint On Bitcoin Current Performance Despite the current downturn, some market analysts remain optimistic about Bitcoin’s prospects. PlanB, a respected figure in the crypto community, reaffirmed that the bull market is still ongoing, suggesting that underlying on-chain metrics do not show any abnormalities that would indicate a prolonged bear market. Related Reading: Buckle Up: Here Is Why Bitcoin Might Just Be Gearing Up For a 200% Surge Additionally, crypto analyst Ali recently suggested on Elon Musk’s social media, X, that now might be an opportune time to buy Bitcoin, anticipating a market rebound. The TD Sequential, which told us to buy #Bitcoin at $60,000 on June 28 and sell at $63,200 on July 1, is telling us to buy $BTC again! pic.twitter.com/JJzQtVJcBh — Ali (@ali_charts) July 3, 2024 Furthermore, vocal Bitcoin advocate Samson Mow has emphasized the importance of Bitcoin in addressing fundamental economic issues, suggesting that fixing monetary systems could be the key to broader economic recovery. Governments, you can’t fix the economy because the money is broken. You must fix the money first. #Bitcoin — Samson Mow (@Excellion) July 3, 2024 His views highlight the potential of Bitcoin not only to recover but also to reach new heights in the financial landscape. Featured image created with DALL-E, Chart from TradingView
Solana’s SOL and dogecoin (DOGE) lead losses among major tokens, with the CoinDesk 20 index down 4.8%.
Bitcoin Core developer Antoine Poinsot said there is a dangerous perception that Bitcoin Core is free of bugs, noting it is “dangerous and, unfortunately, not accurate.”
A US Judge has rejected DraftKings’ motion to dismiss the class action lawsuit filed by the company’s Non-Fungible Token (NFT) buyers. The lawsuit accuses DraftKings, its CEO, CFO, and president of allegedly violating federal securities laws with its NFTs. Related Reading: New Crypto Regulation: Firms In Hawaii Now Exempt From MT License Requirement DraftKings Accused […]
Solana started a fresh decline from the $155 resistance. SOL price is down over 10%, but the bulls are now protecting the $132 support. SOL price started a strong decline from the $155 resistance against the US Dollar. The price is now trading below $145 and the 100-hourly simple moving average. There was a break below a connecting bullish trend line with support at $150 on the hourly chart of the SOL/USD pair (data source from Kraken). The pair could correct losses unless the bulls struggle to protect the $132 support. Solana Price Dives 10% Solana price struggled to continue higher above the $155 resistance. SOL reacted to the downside and declined below the $150 support. There was a break below a connecting bullish trend line with support at $150 on the hourly chart of the SOL/USD pair. The pair gained bearish momentum below the $145 support and declined more than outperformed Bitcoin and Ethereum in the past two sessions. There was a drop toward the $132 support zone. A low was formed at $132.17 and the price is now attempting a recovery wave. There was a move above the $135 level. The price is now approaching the 23.6% Fib retracement level of the recent decline from the $154.74 swing high to the $132.17 low. Solana is now trading well below the $145 level and the 100-hourly simple moving average. If there is another increase, the price might face resistance near the $138 level. The next major resistance is near the $143.50 level and the 50% Fib retracement level of the recent decline from the $154.74 swing high to the $132.17 low. A successful close above the $143.50 resistance could set the pace for another steady increase. The next key resistance is near $150. Any more gains might send the price toward the $155 level. More Losses in SOL? If SOL fails to rise above the $143.50 resistance, it could start another decline. Initial support on the downside is near the $135 level. The first major support is near the $132 level, below which the price could test $125. If there is a close below the $125 support, the price could decline toward the $112 support in the near term. Technical Indicators Hourly MACD – The MACD for SOL/USD is gaining pace in the bearish zone. Hourly Hours RSI (Relative Strength Index) – The RSI for SOL/USD is below the 50 level. Major Support Levels – $135, and $132. Major Resistance Levels – $143.50 and $150.
The post Bitcoin Spot ETFs Experience Significant Outflows Amid Market Correction appeared first on Coinpedia Fintech News
On July 3, 2024, Bitcoin spot ETFs saw a total net outflow of $20.4495 million. Grayscale ETF (GBTC) led the decline with a substantial single-day outflow of $26.9947 million. Conversely, Fidelity ETF (FBTC) experienced a single-day inflow of $6.5451 million. Despite the outflows, the total net asset value of Bitcoin spot ETFs stands at $51.872 …
Bitcoin continues to be incredibly bearish amid negative market headwinds but that has not stopped investors from taking their positions during this time. These large investors who are holding more than $600,000 worth of Bitcoin have been accumulating BTC at an accelerated rate over the last six months. Bitcoin Holders Increase Wallet Holdings On-chain data tracking platform, Santiment, recently revealed that Bitcoin investors have been increasing their holdings over the last six months. According to the report posted on X (formerly Twitter), the major cohort involved in this buying are the wallets holding more than 10 BTC in their wallets. Related Reading: XRP Price Attempts Bullish Decoupling Amid Major Developments The report shows that over the last six months, these holders have increased their collective holdings by 1.07%. While this may seem like only a small increase, it translates to over 5,000 BTC that these wallets have added in the space of half a year. A trend that has been maintained during this accumulation is the fact that the buying has gone up whenever the Bitcoin price has crashed. For example, in early May when the Bitcoin price crashed, these wallets increased their buying. This time around, as the BTC price has struggled to retain the $60,000 level, they have begun to buy once more. Santiment’s data shows that during the last month, their holdings have increased drastically, bringing it to a total of 16.17 million BTC held by these wallets. USDT And USDC Holdings Supports Accumulation Theory One thing that also suggests that these whales have been buying Bitcoin aggressively over the last six months is the change in the USDT and USDC holdings of wallets. Usually, investors will hold these stablecoins as a way to avoid market volatility and wait for better prices. However, once prices get low enough, they begin to buy, and this buying translates to a drop in the balances of their stablecoin holdings. For example, Santiment’s report points to a drop in the USDT and USDC holdings of sharks and whales holding between $100,000 and $1 million, although the USDT holdings have taken more of a hit. Related Reading: Bitcoin Miners Slow Down Selling In July, What This Could Mean For Price USDC holdings of these large wallets have dropped by 1.99% in the last six months, bringing their holdings to 34.2% of the current supply. Meanwhile, USDT holdings have dropped by 5.37% in the same time period, dropping their holdings to 30.3% of the total supply. What this shows is a willingness to buy Bitcoin at these low prices in anticipation of a price recovery. If this buying continues, it could created a much-needed support for the BTC price at $60,000, increasing the possibility of a price increase from here. Featured image created with Dall.E, chart from Tradingview.com
The post Bitcoin Whale Transaction: BTC Price Drops $800 As Whale Transfers 1,800 BTCs To Binance! appeared first on Coinpedia Fintech News
90 minutes ago, a giant whale/institution reportedly deposited another 1,800 BTCs worth $106 Million to Binance. Moreover, this recent transaction has led to the price of Bitcoin dropping from $63.8K to $63K within a short period. Collectively, over the past seven days, this whale has deposited a total of 5,281 Bitcoins worth $323 Million to …
XRP price extended losses and tested the $0.4440 support zone. The price is correcting losses sharply and might soon retest the $0.4720 resistance. XRP price is correcting losses from the $0.4440 support zone. The price is now trading below $0.4650 and the 100-hourly Simple Moving Average. There was a break below a key bullish trend line with support at $0.480 on the hourly chart of the XRP/USD pair (data source from Kraken). The pair might climb higher again if it stays above the $0.450 support zone. XRP Price Revisits Support XRP price struggled to clear the $0.4850 resistance and started a fresh decline, like Bitcoin and Ethereum. The bears took control and pushed the price below the $0.470 support. There was a break below a key bullish trend line with support at $0.480 on the hourly chart of the XRP/USD pair. The pair even declined heavily below the $0.4550 support level. However, the bulls protected the $0.4440 support level. A low was formed at $0.4439 and the price is now correcting losses. There was a recovery wave above the $0.4520 resistance. The price climbed above the 23.6% Fib retracement level of the recent decline from the $0.4878 swing high to the $0.4439 low. It is now trading below $0.4650 and the 100-hourly Simple Moving Average. On the upside, the price is facing resistance near the $0.4620 level. The first major resistance is near the $0.4650 level and the 50% Fib retracement level of the recent decline from the $0.4878 swing high to the $0.4439 low. The next key resistance could be $0.4720. A clear move above the $0.4720 resistance might send the price toward the $0.4850 resistance. The next major resistance is near the $0.500 level. Any more gains might send the price toward the $0.5250 resistance. Another Decline? If XRP fails to clear the $0.4650 resistance zone, it could start another decline. Initial support on the downside is near the $0.4520 level. The next major support is at $0.4440. If there is a downside break and a close below the $0.4440 level, the price might continue to decline toward the $0.4320 support in the near term. Technical Indicators Hourly MACD – The MACD for XRP/USD is now losing pace in the bearish zone. Hourly RSI (Relative Strength Index) – The RSI for XRP/USD is now below the 50 level. Major Support Levels – $0.4520 and $0.4440. Major Resistance Levels – $0.4620 and $0.4650.
The post Rapid Whale Sell-off With Mt. Gox Release Plunges Bitcoins Under $60K appeared first on Coinpedia Fintech News
Bitcoin’s price has fallen below the critical $60,000 mark, dropping 3% last night. This marks the third consecutive bearish day, contributing to a 6% decline this week. Currently, Bitcoin is testing the 200-day EMA and trades at $58,893. In a notable development, a whale has deposited 1,800 BTC ($106 million) to Binance at a loss …
The price of Bitcoin briefly dropped as low as $57,900 amid a wider sell-off in the crypto market.
Mentions of “buy the dip” on Reddit, X, 4chan and Bitcoin Talk doubled over the last two days as Bitcoin has fallen to lows unseen in months.
On-chain data shows PEPE and FET are among altcoins that have seen a sharp growth in their addresses recently, a sign that may be bullish. PEPE, FET, & ENS Have Enjoyed Sharp Network Growth Recently According to data from the on-chain analytics firm Santiment, three altcoins have seen a sudden spike in their Network Growth. […]
As the global financial markets prepare to launch U.S.-based spot Ethereum exchange-traded funds (ETFs), Ethereum is positioned to potentially outperform Bitcoin, according to a new analysis by K33 Research. This comes amid concerns that Bitcoin might face downward pressure due to upcoming repayments to creditors of the defunct Mt. Gox exchange. Related Reading: Ethereum’s Breakout Moment: Is a $7,500 Target Achievable? Experts Weigh In ETF Launch to Begin a New Era for Ethereum Ethereum has lagged behind Bitcoin in performance over the last year, with the former surging 67% while the latter by 95%, but that might be about to change with the anticipated launch of Ethereum spot exchange-traded funds (ETFs) in the United States, expected in the coming weeks. Analysts Vetle Lunde and David Zimmerman from K33 Research suggest that introducing these spot ETFs could be pivotal for Ethereum’s valuation. Despite a likely initial dip post-launch, they forecast that inflows into these funds will propel Ethereum’s price over time, drawing a parallel to the earlier impact of Bitcoin’s spot ETFs, which attracted billions of dollars in inflow after launch. This optimism is rooted in the belief that ETFs will catalyze significant capital flows into Ethereum, mirroring the influx seen with Bitcoin. The analysts project net inflows amounting to 0.75% to 1% of Ethereum’s circulating supply within five months post-launch, potentially setting the stage for substantial price appreciation. The analysts noted: ETFs are a solid catalyst for relative ETH strength as the summer progresses and flows accumulate, and I firmly view current ETH/BTC prices as a bargain for the patient trader. When Will ETH Spot ETF Launch In The US? Despite the analysts’ bullish outlook, the market appears skeptical, as evidenced by Ethereum futures trading at a discount relative to Bitcoin futures, as highlighted in the K33 Research. Related Reading: Experts Eye Spot Ethereum ETF Launch By Mid-July, Predict Price Rally Ethereum is trading at around $3,312, reflecting a 3.3% drop over the past day and conceding with the ubiquitous decline in the crypto market. In the broader context, the crypto industry is enthusiastic about Bitcoin and Ethereum ETFs. Nate Geraci, president of The ETF Store, highlighted that amended S-1 forms for Bitcoin ETFs are due before July 8, with approvals potentially finalized by July 12, paving the way for a mid-July launch. Wen spot eth ETF? BBG sticking w/ mid-July. Amended S-1s due July 8th. Potential final S-1s by July 12th. Would theoretically mean launch week of July 15th. via @emily_graffeo @olgakharif pic.twitter.com/NG8xhtCP21 — Nate Geraci (@NateGeraci) July 3, 2024 Concurrently, Steve Kurz from Galaxy Digital expressed confidence in a Bloomberg interview that Ethereum ETFs would receive approval within July, underscoring the structured and familiar regulatory process drawing from experiences with Bitcoin ETF applications. Featured image created with DALL-E, Chart from TradingView
A Joe Biden-themed memecoin tanked nearly 75% since his debate against Donald Trump last week, while his possible replacement’s memecoin has surged.
El Salvador's persistent Bitcoin purchases amid market downturn could solidify its position as a crypto pioneer, influencing global economic strategies.
The post El Salvador continues daily Bitcoin acquisition amid market downturn appeared first on Crypto Briefing.
Ethereum price failed to clear the $3,520 zone and started a fresh decline. ETH dived below the $3,250 support and even tested the $3,150 zone. Ethereum started a fresh decline below the $3,320 and $3,250 levels. The price is trading below $3,250 and the 100-hourly Simple Moving Average. There is a key bearish trend line forming with resistance near $3,325 on the hourly chart of ETH/USD (data feed via Kraken). The pair could correct losses, but upsides might be limited above the $3,320 zone. Ethereum Price Takes Hit Ethereum price failed to continue higher above the $3,450 and $3,420 resistance levels. ETH started another decline below the $3,320 support zone like Bitcoin. There was a move below the $3,250 and $3,220 support levels. The price declined 5% and even tested the $3,150 support. A low was formed at $3,156 and the price is now consolidating losses. There was a move above the $3,200 resistance level. The price is now testing the 23.6% Fib retracement level of the downward move from the $3,426 swing high to the $3,156 low. Ethereum is trading below $3,300 and the 100-hourly Simple Moving Average. If there is a recovery wave, the price might face resistance near the $3,250 level. The first major resistance is near the $3,300 level or the 50% Fib retracement level of the downward move from the $3,426 swing high to the $3,156 low. There is also a key bearish trend line forming with resistance near $3,325 on the hourly chart of ETH/USD. The next major hurdle is near the $3,365 level. A close above the $3,365 level might send Ether toward the $3,450 resistance. The next key resistance is near $3,500. An upside break above the $3,500 resistance might send the price higher. Any more gains could send Ether toward the $3,550 resistance zone. Another Decline In ETH? If Ethereum fails to clear the $3,320 resistance, it could continue to move down. Initial support on the downside is near $3,200. The first major support sits near the $3,150 zone. A clear move below the $3,150 support might push the price toward $3,080. Any more losses might send the price toward the $3,050 level in the near term. Technical Indicators Hourly MACD – The MACD for ETH/USD is gaining momentum in the bearish zone. Hourly RSI – The RSI for ETH/USD is now below the 50 zone. Major Support Level – $3,150 Major Resistance Level – $3,320
The Cloudbreak Fund will invest in gaming finance, social finance, memecoins, derivatives, and layer-1/layer-2 projects across Chinese-speaking regions.
Bitcoin price failed to start a fresh increase above the $62,850 resistance zone. BTC started another decline and tumbled 5% to test $58,000. Bitcoin started a fresh decline and traded below the $60,000 zone. The price is trading below $61,500 and the 100 hourly Simple moving average. There is a connecting bearish trend line forming with resistance at $60,000 on the hourly chart of the BTC/USD pair (data feed from Kraken). The pair might struggle to start a fresh increase above the $60,850 resistance zone. Bitcoin Price Dives 5% Bitcoin price struggled to start a decent recovery wave above the $62,850 resistance level. The bears took control and pushed BTC below the $61,200 support zone. There was a sharp decline below the $60,000 level. The price declined 5% and even spiked below the $58,000 level. A low was formed at $57,890 and the price is now consolidating losses. There was a minor increase above the $58,500 level and approaching the 23.6% Fib retracement level of the downward move from the $63,798 swing high to the $57,890 low. Bitcoin price is now trading below $61,500 and the 100 hourly Simple moving average. There is also a connecting bearish trend line forming with resistance at $60,000 on the hourly chart of the BTC/USD pair. If there is a decent increase, the price could face resistance near the $60,000 level and the trend line. The first key resistance is near the $60,850 level and the 50% Fib retracement level of the downward move from the $63,798 swing high to the $57,890 low. The next key resistance could be $61,500. A clear move above the $61,500 resistance might start a steady increase and send the price higher. In the stated case, the price could rise and test the $62,250 resistance. Any more gains might send BTC toward the $63,500 resistance in the near term. More Losses In BTC? If Bitcoin fails to climb above the $60,000 resistance zone, it could continue to move down. Immediate support on the downside is near the $58,250 level. The first major support is $58,000. The next support is now forming near $57,800. Any more losses might send the price toward the $56,500 support zone in the near term. Technical indicators: Hourly MACD – The MACD is now gaining pace in the bearish zone. Hourly RSI (Relative Strength Index) – The RSI for BTC/USD is now below the 50 level. Major Support Levels – $58,250, followed by $58,000. Major Resistance Levels – $59,250, and $60,000.
One of the organizers behind the crowdfunding initiative says discussions with the Las Vegas Sphere are progressing and is confident the plan will eventually go ahead.
Tracking and analyzing transfer volumes is crucial for understanding the underlying economic activity within the Bitcoin network. Spikes in transfer volumes show heightened market participation, either from new entrants and institutional investors — usually during bull runs — or significant transactions by existing participants — usually during downturns. While spikes in transfer volumes usually come […]
The post Market in wait-and-see mode as Bitcoin volumes stagnate appeared first on CryptoSlate.
American entrepreneur and Bitcoin bull Anthony Pompliano has again affirmed his bullish sentiment towards the flagship crypto. This time, he advised investors on what they should be doing during this BTC dip and suggested that there was no need to be concerned despite Bitcoin’s recent underperformance. Bitcoin Dips Are For Buying In an interview with FOX […]