The post Crypto Market Predictions: Top Winners & Losers of 2024 appeared first on Coinpedia Fintech News
Rounding up all crypto enthusiasts – are you ready?! Santiago R Santos, a well-known figure in the crypto world, recently shared his market outlook for the rest of 2024 – and it’s explosive! Will Bitcoin soar to new heights? Is an altcoin bloodbath on the horizon? Dive in to see what Santos sees in the …
The Nigerian Securities and Exchange Commission (SEC) has launched a new initiative targeted at hastening the registration process of virtual asset service providers (VASP). According to the securities market regulators in the West African nation, this new program which serves as an amendment to existing rules aims to adjust the current regulatory framework to fit […]
Mohammed Idris, Nigeria’s minister of information and national orientation, emphasized that Gambaryan enjoys full consular support from his home government.
USDT, Tether’s digital token pegged to traditional currencies, is leading a quiet revolution in the world of finance. In a landmark development, USDT has surpassed Visa’s average daily transaction volume on the Tron blockchain, underscoring its position as the undisputed leader in the stablecoin space. This surge signifies a growing confidence in stablecoins and their potential to disrupt the financial landscape. Related Reading: AI Crypto Fetch.ai (FET) Makes ‘Big Bounce’ – Volume Spikes Over 200% Ahead Of Merger USDT Flexes Muscles USDT’s dominance is evident. Available on multiple blockchains, it has seen its market cap explode since its inception in 2014. But the recent milestone on Tron, a blockchain known for its lower transaction fees, is particularly noteworthy. Lookonchain data reveals USDT transactions on Tron hitting a staggering $53 billion in a single day, exceeding Visa’s daily average of $42 billion. This 20% lead underscores the increasing adoption of stablecoins for everyday transactions. The 24-hour trading volume of $USDT on #TronNetwork is $53B, exceeding Visa’s average daily trading volume. Visa’s trading volume in Q1 2024 was $3.78T and the average daily trading volume was $42B. pic.twitter.com/jolGKIUcxE — Lookonchain (@lookonchain) June 21, 2024 Why The Rise Of Stablecoins? So, what’s driving this surge? Unlike traditional cryptocurrencies known for their wild price swings, stablecoins offer a haven of stability. They are typically pegged to fiat currencies like the US dollar, meaning their value remains relatively constant. This stability makes them ideal for everyday transactions, eliminating the fear of sudden price drops that plague traditional cryptocurrencies. Additionally, stablecoins leverage the power of blockchain technology, enabling faster, cheaper, and more transparent transactions compared to conventional systems. Regulation On The Horizon As stablecoins gain traction, governments are scrambling to establish regulatory frameworks. The Lummis-Gillibrand Payment Stablecoin Act in the US and similar initiatives in the UK highlight a global concern for ensuring user protection and financial stability in the face of this innovation. While these regulations are crucial for responsible growth, navigating the ever-changing political climate adds another layer of complexity. For instance, the UK’s crypto policy remains uncertain with a looming general election. Related Reading: Follow The Whales? Arthur Hayes Buys Pendle, Token Soars 25% The Future Of Finance Despite the challenges, the momentum behind stablecoins seems unstoppable. Their ability to bridge the gap between traditional finance and the crypto world offers undeniable advantages. While daily transaction volume can be volatile, and concerns like rising transaction fees on Tron need to be addressed, the overall trend is clear. Stablecoins are here to stay, and their impact on the global financial system is likely to be profound. As regulations take shape and the technology matures, stablecoins have the potential to revolutionize the way we conduct everyday transactions, ushering in a new era of financial inclusion and efficiency. Featured image from Pexels, chart from TradingView
The post US Rep French Hill Voices Immediate Humanitarian Aid For Gambaryan appeared first on Coinpedia Fintech News
The US representative French Hill with Chrissy Houlahan visited US citizen Tigran Gambaryan in Kuje Prison in Nigeria and found him suffering from the conditions there, being denied access to adequate medical condition. Although Nigeria has dropped tax evasion charges against Tigran, the US representative feels that he’s being wrongfully detained on charges related to …
The post Schiff Predicts Bitcoin Price To Keep Going Down for Several Years appeared first on Coinpedia Fintech News
Peter Schiff has predicted Bitcoin price to continue falling over the next couple of years. Schiff quoted on X that ‘you can keep looking at that chart for the next several years while the price of Bitcoin continues to fall and the price of gold continues to rise’. Schiff has noted that Bitcoin is now …
The post Bitcoin Price Prediction: Price Dips Below $65k, Can the Bearish Trend Flip Today? appeared first on Coinpedia Fintech News
The current state of the cryptocurrency market, particularly Bitcoin and Ethereum, are constantly refusing to give a clear indication of ‘what’s next?’ Analyst Josh of Crypto World said that there is a major warning signal flashing on the Bitcoin chart as the price is facing rejection from a critical resistance area. Looking at the chart, …
Bitcoin miners are not “full-scale bear market level capitulating,” according to a crypto analyst.
US lawmakers continue to call for the release of the detained Binance executive Tigran Gambaryan. The ongoing saga between the crypto exchange and the Nigerian authorities intensified when several US Congress members sent a letter urging the Biden administration to take action. Related Reading: ‘More Bullish Than Ever’: Circle CEO Explains Why He’s Optimistic About […]
Solana (SOL) has had a turbulent time lately evident with a consistent decline in its market price. According to data from CoinMarketCap, the “Ethereum Killer” is down by 6.36% on its weekly chart, emerging as the biggest loser among the top 10 tokens. Interestingly, this price dip depicts the larger negative performance of SOL in which it has lost 24.61% of its value in the last month. However, amidst this mayhem, the Solana network has hit a significant milestone which may spark some excitement for investors. Related Reading: Solana Could Face A 41% Crash, Warns Mechanism Capital Co-Founder Solana Records All-Time High Of 30 Million Monthly Users In an enthralling development for SOL enthusiasts, data from blockchain analytics platform Artemis shows the network has attained a new peak of 30 million active addresses (users). This development was shared on X on Friday by the data analysis handle SolanaFloor. After reaching the 25 million mark in 2022, the Solana blockchain experienced a steep decline in monthly active users going as low as 5 million in 2023. However, the smart contract platform has appeared rather attractive in 2024 with a steady rise in monthly users throughout the year so far. In the crypto ecosystem, the importance of growth in network users stems mainly from an indication of growing market confidence from investors, which is quite vital considering SOL’s current price dip. For the fifth largest cryptocurrency, this rise in the active addresses is likely due to the current hype around Solana meme coins – a $5.65 billion ecosystem that has provided investors with an avenue of recording insane trading profits. In addition, an increase in network users can also translate into larger liquidity, more stable network security, and the development of more use cases, all of which are important features in attracting further investment and boosting a token’s value. Related Reading: Bitcoin And Solana Brace For Quiet Q3: What Crypto Traders Should Know What’s Next For SOL? At the time of writing, SOL trades at $133.36 following a 0.34% decline in the last day. Furthermore, the token’s daily trading volume is down by 6.81% and valued at t $2.19 billion. For Solana, the bulls face strong resistance at the $151 price zone. If the buying pressure proves sufficient to push through this region. SOL could return as high as $190 over the next few weeks. However, a rejection at this zone could result in a further decline in the token’s price reaching as low as $120. All traders are reminded to perform due diligence before engaging with the cryptocurrency market. Featured image from The Independent, chart from Tradingview
The post Bitcoin Price Struggling at $64,000: Here’s Why it Could be a ‘Do-or-Die’ Weekend for the BTC Price appeared first on Coinpedia Fintech News
After losing the $65,000 support, the Bitcoin price is now utilising all its strength to hold the $64,000 support. The selling pressure over the token has intensified, which has compelled the price to pierce through the lower support. While the weekend trade approaches, a greater possibility of massive price action can be expected. As the …
An analyst explained that Bitcoin has historically seen recovery from bearish phases like the one the cryptocurrency is going through. Bitcoin Hash Ribbons Show Miner Capitulation Is Ongoing In a new post on X, analyst Willy Woo has discussed the relevance of the Bitcoin hashrate to the asset’s price recovery. The “hashrate” refers to a […]
In a positive turn of events, the Shiba Inu burn rate has seen another notable spike. This time around, the activity, meaning the number of addresses participating in the burns, has seen a notable increase and the burned tokens have risen by over 1,100% in one day. Shiba Inu 1,166% Spike In Burn Rate According […]
Shiba Inu whales are on the move again, sparking speculations on what they expect from the meme coin. One whale, in particular, has caught the attention of the SHIB community following a massive withdrawal from the popular crypto and stock trading exchange Robinhood. Whale Pulls Out Almost $40 Million From Robinhood The Shiba Inu whale transactions that have got tongues wagging were first picked up on June 20 by the on-chain whale tracking platform Whale Alert. According to the report, the whale had removed a total of 2,2 billion SHIB from the exchange, which was worth approximately $40 million at the time of this transfer. Related Reading: Dogecoin Enters Final Stage Of Consolidation, Analyst Predicts 6,150% Rally To $7.5 The whale moved the coins to an unknown wallet, something that could be bullish for the price. This is because when whales move their coins to exchanges, they intend to sell, which might push the price down due to the selling pressure. However, when whales remove their coins from exchanges, it could mean they don’t plan to sell and are holding for better prices. In this case, the whale has gone the way of the latter, suggesting accumulation rather than selling. Also, given the sheer volume of coins being withdrawn from the Robinhood exchange, it has removed a significant amount of supply from the open market from now. However, the whale transaction hasn’t had much of an impact on the price. The SHIB price is still trading under $0.00002 at the time of this writing, although this presents ample opportunity for these investors looking to get in at cheap prices. Shiba Inu Still Has Legs Despite the price decline that has rocked the meme coin in recent times, expectations have not waned as analysts forecast another crypto bull market. One of those who still see a bright future for the meme coin is Shiba Inu marketing lead LUCIE. Related Reading: Here’s Why The Worldcoin (WLD) Price Surged Over 15% In One Day To Reach $3 According to LUCIE, SHIB is still in a position. Sharing a Wall Street Cheat Sheet, she shows that the meme coin is now in the period just before Optimism. Now, the Wall Street Cheat Sheet shows that this is when investors really begin to believe that the rally is real. From here, the price is expected to keep going up as investors go through the motions of Belief, then Thrill, and finally Euphoria, before prices start to correct. If LUCIE is right, then the real rally is yet to begin and the Shiba Inu price could go so much higher. At the time of writing, the SHIB price is struggling to reclaim the $0.000018 support from the bears. However, with the Bitcoin price failing to move upward, the weekend could bring further declines for the market. Featured image created with Dall.E, chart from Tradingview.com
Following the launch of its Bitcoin Option Yield Strategy ETF, YieldMax has filed for an Ether Option Income Strategy ETF.
The post YieldMax files for Ether Option Strategy ETF ahead of Ether ETF launch appeared first on Crypto Briefing.
Bitcoin’s price briefly dipped below a critical level for traders, sparking fears that a further correction toward $60,000 might be on the horizon.
In a landmark ruling, an Australian man has received a two-year prison term for committing identity theft and fraudulently setting up cryptocurrency exchange accounts. This case, adjudicated at the Melbourne County Court on June 17, underscores the increasing intersection of cybercrime and cryptocurrency in modern financial systems. Related Reading: Australian Goverment Bans Use Of Crypto […]
The post Vitalik Buterin’s Recommendation In ERC-3770 For Safer ETH appeared first on Coinpedia Fintech News
Buterin has made some important recommendations in the ERC-3770. The checksum address is a key concept in Ethereum that might push down the risk of errors and potential losses in the transactions. Buterin has urged that all wallets, especially those using ERC-3770 to make sure they are only producing checksummed addresses.The likelihood that an incorrectly …
The post Dogwifhat Whales Dump $16M Worth WIF Over The Week appeared first on Coinpedia Fintech News
Dogwifhat whales have offloaded substantial amounts of their holdings which is nearly $16 million worth of WIF over the past week. The large sell offs have put a downward pressure on the memecoin’s price as it plunged over 14% in the last 24 hours. Notably, Dogwifhat has lost 25% in the past week and over …
The post Shiba Inu Burn Rate Boosts 529% with Over 37M SHIB Burnt appeared first on Coinpedia Fintech News
The Shiba Inu community has burnt over 37 million SHIB across 10 transactions in the last 24 hours boosting its burn rate by 529.72%. The burn is a part of the ongoing effort by the Shiba Inu community to reduce its circulating supply. The Shiba Inu community is also exploring broader initiatives to further decrease …
Working comedians used artificial intelligence to develop material, and found it to be “the most bland, boring thing.”
According to the latest insight from a CryptoQuant analyst, Bitcoin might be poised for a notable price correction. This possibility of a price correction is based on major Bitcoin metrics such as the Adjusted Spent Output Profit Ratio (ASOPR), signaling a notable implication for Bitcoin’s trajectory. Understanding ASOPR’s Role In Predicting BTC Corrections The ASOPR, a key indicator in the crypto market, measures the profit ratio of spent outputs by comparing the value at which coins were bought to the value at which they were sold. Related Reading: Bitcoin Crash Below $66,000 Stuns Market, Why A Drop To $54,930 Is Possible According to the CryptoQuant analyst, when this ratio exceeds 1, it suggests that coins are being sold at a profit, which often correlates with bullish market conditions. However, a critical threshold observed in historical data is when ASOPR approaches 1.08. At this point, the market tends to shift, signaling a potential onset of a correction phase. This pattern has been consistent over several market cycles, providing a valuable tool for investors to assess the market’s health. For instance, when ASOPR climbs steadily above 1 but nears the 1.08 mark, investors might consider this an opportune moment to evaluate their positions before potential downturns. The CryptoQuant analyst particularly noted: Considering past instances where similar patterns were observed, there is a possibility that the current situation might follow the same (down) trend. Another critical component the analyst mentioned in his BTC market analysis is the 200-day moving average (MA), widely regarded as a barometer for the long-term market trend. This indicator helps smooth out price data by creating a constantly updated average price, which can be pivotal in confirming the overall market direction. A rising 200-day MA suggests a long-term uptrend, while a decline might indicate a bearish market. According to the chart shared by the analyst, Bitcoin’s performance below this key moving average currently confirms the cautious stance suggested by the ASOPR. With the price hovering around $64,000, a 14% drop from its recent peak, the convergence of these indicators suggests that the market might still be in a phase of reassessment and potential adjustment. Bitcoin Continued Stagnancy The prediction from the metric above is quite evident, as Bitcoin’s value continues to fall despite significant positive developments within the industry. Earlier today, Standard Chartered Plc announced the launch of a new trading desk for Bitcoin and Ethereum, marking a significant move into spot cryptocurrency trading by one of the world’s major banks. Additionally, the Winklevoss twins, founders of the crypto company Gemini, have publicly supported Donald Trump’s presidential campaign, donating $1 million each BTC for being a “pro-Bitcoin” candidate. Related Reading: Bitcoin Analyst Claims BTC Consolidation Will Continue, Hedge Funds Throw In The Towel Nevertheless, these developments have not spurred any significant upward movement in Bitcoin’s price, which has seen a 1.1% decline in the past 24 hours to $63,935. Analyst Ansem predicts that Bitcoin may not see a significant price increase until later this year, anticipating it will remain between $58,000 and $60,000 for some time. Featured image created with DALL-E, Chart from TradingView
Seven spot Ethereum ETF applicants amended their registration statements with the SEC on June 21, leading to increased expectations of a trading launch in early July. Franklin Templeton, VanEck, Invesco Galaxy, BlackRock, 21Shares, and Fidelity submitted updated S-1 registrations for their respective funds. Grayscale submitted an amended S-3 registration for its Ethereum Trust and an […]
The post BlackRock, other issuers update S-1 filing for spot Ethereum ETFs, raising expectations for July launch appeared first on CryptoSlate.
Bitcoin might be weak at spot rates, sliding roughly 13% from $74,800 amid intense liquidation pressure. Even as prices retract from all-time highs and $66,000 proves to be a mirage, analysts are upbeat about what lies ahead. Most expect the coin to surge towards the all-important psychological line, $100,000, in the coming days or weeks. […]
The US Treasury Department’s Financial Crimes Enforcement Network (FinCEN) has issued a stark warning to US financial firms, warning them about the increasing use of crypto by Mexican drug cartels to purchase chemicals used to manufacture fentanyl. In an updated advisory released on June 20, FinCEN specifically cited the use of Bitcoin (BTC), Ethereum (ETH), […]
The post FinCEN says illicit use of crypto by criminals creates new ‘opportunities’ for detection appeared first on CryptoSlate.
Bitcoin has continued its recent bearish trajectory during the past day as the asset’s price has now slipped under $64,000. Here’s what the next support looks like for BTC. Bitcoin Has Strong On-Chain Support Between $61,900 & $63,800 According to data from the market intelligence platform IntoTheBlock, BTC is floating just above a critical on-chain demand zone. Demand zones refer to price ranges where many investors last bought their coins. These ranges can be determined through on-chain analysis, as the average cost basis of each address on the network can be readily calculated through its transaction history. Related Reading: PEPE Has 80% Of Holders In Profit: How It Compares To DOGE & BTC Below is the chart shared by the analytics firm that shows the various price ranges near the current asset price in terms of the present demand. In the graph, the size of the dot corresponds to the number of addresses bought inside the respective range. It appears that Bitcoin currently has large demand zones both just above and below itself. According to IntoTheBlock data, the lower range currently holds the cost basis of around 1.23 million addresses for investors who bought 319,700 BTC. Now, what’s the relevance of a demand zone like this? To any investor, their cost basis is important, so when the price tests it, they may become more prone to making some move. Naturally, if many holders share their break-even level inside a narrow range, the reaction resulting from a retest would also be large. Because of this reason, zones of major demand are considered to be important support or resistance levels for Bitcoin. Cost basis centers above the price can act as resistance walls, while those below can provide support cushions. Since BTC is hovering just above a major demand zone between $61,900 and $63,800 after its latest decline, it’s possible that the range could help the asset reach a bottom. As for the source of the support or resistance effect provided by these demand zones, the answer lies in investor psychology. The holders currently in loss may be looking forward to the price hitting their cost basis to exit with their initial investment. This selling that may appear upon a retest of many investors’ shared break-even level can pose resistance to BTC. Similarly, the investors below can react to a retest by buying more, as they could look at the drop as a dip opportunity, thus supporting the asset. Related Reading: IntoTheBlock Reveals Fact About Current Bitcoin Situation Analysts Are Puzzled By It now remains to be seen if the support zone between $61,900 and $63,800 would put an end to Bitcoin’s recent bearish momentum or not. BTC Price After the latest drawdown, Bitcoin has just entered into the on-chain demand zone, as its price is now trading around $63,600. Featured image from Dall-E, IntoTheBlock.com, chart from TradingView.com
Ether ETFs are expected to launch in the first week of July, according to analysts.
Onchain Highlights DEFINITION: Realized Cap values different part of the supplies at different prices (instead of using the current daily close). Specifically, it is computed by valuing each UTXO by the price when it was last moved. Bitcoin’s realized capitalization has shown a marked increase alongside the asset’s price in 2024. As depicted in the […]
The post Bitcoin’s realized market cap hits $600 billion appeared first on CryptoSlate.
Analysts say Bitcoin price will rally only after BTC miners capitulate and the network’s hashrate recovers.
The Washington DC-based blockchain advocacy group argued the IRS' broker rule provisions violate the Paperwork Reduction Act.