The onchain sleuth claimed that team wallets “sniped” 90% of the token supply by buying it from the liquidity pool just after launch.
Lawyers for cryptocurrency firm Digital Currency Group (DCG) and two of its top executives – CEO and founder Barry Silbert and Soichiro “Michael” Moro, the former CEO of DCG’s wholly-owned trading arm Genesis – have made a final effort to convince a judge to toss out New York Attorney General (NYAG) Letitia James’ civil fraud suit against them.
While Judge Reed O’Connor granted the SEC an extension to respond to Consensys’ lawsuit, he also approved a timeline for considering the case’s merits proposed by the firm.
Decentralized Physical Infrastructure Networks (DePIN) are flourishing across multiple businesses, creating an “economy of things,” where value is shared across all participants. Scott Foo, founder of DePIN Daily, digs in.
Some crypto analysts expect Bitcoin’s price consolidation to end based on technical chart patterns and falling exchange reserves.
On-chain data shows that selling pressure from Bitcoin miners has recently slowed down. This is significant considering the impact it could have on Bitcoin’s price heading into the third quarter of the year. Bitcoin Miners’ Selling Pressure Has Significantly Declined Referencing data from the on-chain analytics platform CryptoQuant, crypto analyst Crypto Dan noted that selling pressure from miners has significantly declined for two reasons. One is that the quantity of Bitcoin these miners sent to exchanges to sell has reduced drastically since May. Related Reading: Dogecoin Flashes Major Bullish Signal On 3-Day Chart, Here’s The Target Secondly, the crypto analyst mentioned that the volume of the OTC Desk that miners use for selling has been consumed, suggesting that someone recently bought up all the available Bitcoin supply from these miners. The volume of the OTC Desk is said to have piled up until June 29th, as there was no willing buyer to purchase these crypto tokens. Bitcoin miners greatly contributed to the price crashes the flagship crypto suffered in June. Data from the market intelligence platform IntoTheBlock showed that these miners sold 30,000 BTC ($2 billion) throughout the month. This put significant selling pressure on Bitcoin, which caused it to drop below $60,000 at some point. As such, the decline in selling pressure presents a bullish development for Bitcoin and could continue the bull run for the flagship crypto. Crypto Dan noted that this development has created “sufficient conditions” to continue the upward rally for Bitcoin in this third quarter of the year. Crypto analyst Willy Woo had also previously predicted that Bitcoin’s price would recover once miners capitulate. With that out of the way, Bitcoin could enjoy an upward trend this month and make massive moves to the upside. BTC’s Uptrend Has Begun Crypto analyst Rekt Capital noted in a recent X (formerly Twitter) post that Bitcoin’s uptrend has begun. He claimed that the macro higher low has been confirmed, and Bitcoin is now rallying to the upside. He added that the flagship crypto is developing a macro bull flag, providing a bullish outlook for the crypto token. Related Reading: Bitcoin Investors Place $500 Million In Spot BTC Bids Below Market Price In another X post, the crypto analyst remarked that the goal for Bitcoin following its strong start to July is to build a “foundation from which it will be able to springboard to the Range High area at $71,500 over time.” Crypto analyst Michaël van de Poppe also suggested that Bitcoin’s downtrend is over and a bullish reversal was underway as the flagship crypto makes significant moves to the upside. He also mentioned that he believes that Bitcoin has bottomed out and has found support at $60,000, meaning a decline below that price level anytime soon was unlikely. At the time of writing, Bitcoin is trading at around $62,900, down in the last 24 hours, according to data from CoinMarketCap. Featured image created with Dall.E, chart from Tradingview.com
The brokerage platform took advantage of Hawaii's recent change to money transmitter licensing to expand to the non-contiguous United States.
The post Robinhood’s Bold Crypto Futures Plan: Expansion Amid Regulatory Scrutiny appeared first on Coinpedia Fintech News
Robinhood Markets Inc. is going to acquire Bitstamp next year for approximately $200 Million. Before this deal is closed they are considering entering the cryptocurrency futures market. This could expand its offering in the US as well as in Europe. Expansion into Europe and the US Robinhood plans to use Bitstamp’s licenses to offer perpetual …
HashKey Group, a prominent crypto financial services firm based in Asia, has embarked on a unique initiative to engage its community and expand its reach. Earlier today, HashKey unveiled a community airdrop of its native token, HSK, signaling the approach of its anticipated listing set for the third quarter of the year. The firm has […]
Ensuring high-quality nodes is crucial for the seamless operation and broader adoption of Web3, impacting user trust and blockchain reliability.
The post Web3 adoption hinges on high-quality nodes, says Lava Network CEO appeared first on Crypto Briefing.
Bankrupt crypto lender Celsius Network’s litigation administrator has initiated legal action against account holders who have not settled liabilities related to preferential transfers made in the 90 days before the firm filed for bankruptcy. The lawsuits, filed in the US Bankruptcy Court for the Southern District of New York, target those with more than $100,000 […]
The post Celsius Network initiates legal action to recover funds from pre-bankruptcy withdrawals appeared first on CryptoSlate.
Miner revenue per exahash measures miners’ daily income relative to their contribution to the network’s hash rate, showing how much miners earn per unit of computational power they contribute. This metric is important because it reflects the profitability and economic viability of Bitcoin mining, directly influencing decisions on resource allocation, investment, and operational strategies. Given […]
The post Bitcoin miners diversify and consolidate to survive revenue drop appeared first on CryptoSlate.
In Cointelegraph’s latest video, experts discuss the impact of the spot Bitcoin ETF approvals on the crypto markets and the potential for a spot Ethereum ETF.
Millennium Management, holding 27,263 BTC worth $1.69 billion, has allocated about 2.5% of its $67.70 billion total assets under management to Bitcoin.
The Monetary Authority of Singapore (MAS) elevated the risk level of Digital Payment Token (DPT) service providers in its latest Counter-Terrorism regulation update. On July 1, the MAS raised the risk level of DPTs to medium-high from medium-low as part of its review of the Asian country’s Terrorism Financing National Risk Assessment (NRA) and National […]
The post Singapore raises risk level for digital payment token providers in counter-terrorism update appeared first on CryptoSlate.
In a recent commentary on X, Daniel Yan, co-founder of Matrixport and CIO at Kryptanium Capital, offered a detailed comparison between the current crypto market dynamics and those observed in early June. His insights are especially relevant as the market approaches several key economic releases that could significantly influence the trajectory of major cryptocurrencies like Bitcoin (BTC) and Solana (SOL). History Repeating For The Crypto Market? Yan’s analysis began with an overview of the current market recovery, noting that both BTC and SOL are “grinding at key technical levels nicely now,” suggesting a potential setup for a breakout similar to the situation in early June. During that period, Bitcoin was challenging a major resistance level at $71,500, influenced by positive Personal Consumption Expenditures (PCE) data and weaker-than-expected ADP employment change numbers, which fueled optimism about a potentially dovish stance from the Federal Reserve. Related Reading: Circle Awarded Europe’s First Stablecoin License Under New MiCA Crypto Rules However, Yan drew attention to the volatility that followed, when a stronger than expected Non-Farm Payroll (NFP) report reversed the bullish sentiment, causing Bitcoin to plummet from highs of $72,000 to around $58,000 within two weeks. He highlighted this pattern to caution investors about the potential for similar market reactions in the current context. Looking forward, Yan expressed a generally bullish outlook for Q3 2023, citing improving liquidity conditions and the resolution of the Mt. Gox case, which has loomed over the market for years. Yet, he remains wary of the short-term impacts of the upcoming NFP release, scheduled for this Friday. “I’m getting cautious going into the NFP Friday – a similar first half of the pattern may happen,” he warned. Yan also pointed to the CPI release as the next crucial data point, with the Cleveland Fed providing modest estimates for June but less favorable projections for July. He emphasized the impact of summer energy prices on inflation metrics, noting that rising crude oil and gas prices since early June are likely to influence both headline CPI and PCE directly, and core inflation numbers indirectly. “A 0.3% MoM Core CPI expectation is already bad, imagine it realizes worse,” he remarked, underscoring the potential for these figures to exceed expectations to the upside, further complicating the Fed’s inflation management efforts. Related Reading: Buy Crypto Now: Lekker Capital CIO Spotlights Prime Opportunity The immediate focus for Yan and many in the crypto community is Federal Reserve Chairman Jerome Powell’s speech tonight at the European Central Bank. His comments are highly anticipated for hints on how the Fed views the current macroeconomic conditions and its potential policy actions in the near term. “Let’s see what he thinks of the current macro situations,” Yan stated, indicating the significant market-moving potential of Powell’s address. Bitcoin Breakout Needs Confirmation Matrixport released a “Chart of the Day” featuring Bitcoin’s price movements from June 2 to July 1, highlighting the cryptocurrency’s recent break from a short-term downtrend. After signaling a bottom on June 25 on their Matrixport Greed & Fear index—a tool often used to predict potential reversals—Bitcoin showed signs of an oversold condition, which typically precedes a price recovery. Indeed, Bitcoin’s price began to rebound tactically over the weekend, overcoming some of the immediate technical hurdles. While the market appears to be setting up for a potential rally, Yan’s analysis and the impending economic updates suggest that investors should brace for possible fluctuations. As these events unfold, the crypto market’s response to economic indicators and central bank communications will be pivotal in shaping its short-term direction. At press time, BTC traded at $62,802. Featured image created with DALL·E, chart from TradingView.com
The post Binance’s Epic Win Over SEC: Ripple Case Now in the Spotlight appeared first on Coinpedia Fintech News
In a significant ruling for Binance, the US District Court for the District of Columbia dismissed huge claims made by the SEC against Binance. Headed by the chairperson Gary Gensler, the SEC filed a legal lawsuit against Binance in June 2023, alleging the exchange sold unregistered securities and operated illegally in the U.S. Judge’s Ruling …
Data from Bloomberg Intelligence shows the spot funds saw net inflows of $790 million even as the price of bitcoin tumbled 7%.
In an environmental assessment mandated by the emerging Markets in Crypto-Asset (MiCA) regulations, the Crypto Carbon Ratings Institute (CCRI) has released detailed sustainability indicators for the Cardano blockchain. CCRI has teamed up with the Cardano Foundation to work on the sustainability assessment which provides a granular look at the network’s energy usage, carbon emissions, waste […]
Stakeholders within Polkadot’s ecosystem have refuted claims that the network’s Treasury will run dry within two years. Recently, a treasury report raised community concerns by suggesting that the project’s current spending would only sustain operations for two years. However, several stakeholders have dismissed these claims, explaining that Polkadot’s Treasury is continually replenished by the network’s […]
The post Polkadot team dismisses fears of empty treasury, touts self-sustaining model appeared first on CryptoSlate.
On Tuesday the cross-examination of the first witness from Nigeria's Securities and Exchange Commission was completed.
The ENS token (Ethereum Name Service) has recently taken center stage in the crypto community, sustaining a 36% rise in in the last week. This steady surge has sparked widespread interest, with some analysts predicting a prolonged bullish trend, while others advise caution. Related Reading: Dogwifhat (WIF) Jumps 21% As Analysts See $4.5 Price Tag ENS: Price Explosion & Renewed Investor Interest ENS, the native token of the Ethereum Name Service, which translates human-readable domain names into machine-readable wallet addresses, surged by over 2% in the past day. This propelled the token as one of the highest gainers today. ENS briefly surpassed the $33 mark. It is currently trading at $31.89, data from Coingecko shows. This excitement wasn’t limited to spot markets; the derivatives sector also saw a ripple effect. Open interest, which reflects the total value of outstanding futures contracts, reached record highs exceeding $160 million, suggesting a dramatic increase in investor participation and speculation around ENS. Furthermore, the funding rate, which indicates the cost of holding futures contracts, shifted from negative to positive territory. This transition points to rising demand for long positions, where investors bet on the price increasing. A positive funding rate indicates a growing pool of optimistic traders expecting further price hikes for ENS. Technical Analysis: Bullish Signals Daily technical analysis of ENS reveals a recent price rally following a period of mixed trends. The most significant development occurred on June 30th, with a substantial price jump pushing the token to $33.21. This bullish momentum has continued, with the RSI (Relative Strength Index) hovering near 70, indicating a strong uptrend. While a high RSI can suggest potential overbought conditions, it also reflects significant buying pressure. However, some analysts caution against interpreting this short-term rally as a guaranteed path to sustained growth. The cryptocurrency market is notoriously volatile, and historical price movements don’t necessarily predict future performance. Related Reading: Ethereum Suffers 3rd Straight Weekly Outflows, Becomes 2024’s Worst Performer Long-Term Prospects & Potential Risks Several factors could be contributing to the recent surge in price and activity. The upcoming ENSv2 upgrade, which aims to improve efficiency and scalability, might be fueling investor excitement. Additionally, the growing adoption of decentralized applications (dApps) within the Ethereum ecosystem could be driving demand for user-friendly domain names facilitated by ENS. Despite the current optimism, potential risks remain. The overall health of the cryptocurrency market can significantly impact individual tokens like ENS. A broader market correction could lead to a pullback in ENS price. Additionally, the success of ENS depends on the continued adoption and growth of the Ethereum network and the dApps built upon it. Featured image from SpaceRef, chart from TradingView
Tether EDU and BTguru have signed a Memorandum of Understanding (MoU) to evaluate digital assets and educational initiatives in Turkey. Tether EDU is an initiative aimed at enhancing global access to education, particularly in emerging markets. By supporting educational projects, Tether seeks to prepare individuals for the digital age through innovative learning opportunities. It was […]
The post Tether EDU looks to boost digital asset education in Turkey, across Middle East appeared first on CryptoSlate.
Massive demand for energy from high performance computing and artificial intelligence firms is changing the landscape in terms of power stability, the company’s CTO said in an exclusive interview with CoinDesk.
Political events could significantly influence Bitcoin's market dynamics, highlighting its growing role as a financial asset amid electoral uncertainties.
The post Bitcoin to hit $100K by US election day, Standard Chartered predicts appeared first on Crypto Briefing.
The post Fetch.ai (FET) Price To Surge Post Integration Of Artificial Superintelligence Alliance (ASI)? appeared first on Coinpedia Fintech News
The Artificial Superintelligence Alliance (ASI) is a collaboration between Fetch.ai (FET), SingularityNET (AGIX), and Ocean Protocol (OCEAN). This project primarily aims to accelerate the research and development of Decentralized Artificial General Intelligence (AGI) and Artificial Superintelligence (ASI). With this, the Artificial Intelligence (AI) category is predicted to gain significant attention and value during the upcoming …
Bitcoin stands to potentially gain big from a global liquidity trends, analysis concludes, as the June BTC price downtrend ends.
Stablecoin giant Tether is eager to learn about the possibilities of introducing new business lines into Turkey's banking in cooperation with the local crypto firm BTguru.
Cardano (ADA) has faced a significant blow after losing its top position as the leading network for development activities. Despite the Cardano founder, Charles Hoskinson, lauding major updates and developments within the blockchain network, ADA has been overtaken by other crypto networks, pushing it down to fifth place. ADA Loses Top Spot For Network Development […]
The round was led by Peter Thiel’s Founders Fund alongside Pantera Capital, Framework Ventures and others.