Prominent crypto analyst Jelle has projected Ethereum (ETH) to surge to $5,000 by the end of this year. This prediction comes with a notable reason from a technical perspective. Ethereum Rally: Setting the Stage For New Peaks Jelle’s forecast comes after Ethereum is experiencing a form of stabilization above the $3,500 mark, following a correction from its March high of over $4,000. Related Reading: Bitcoin, But Ethereum Holds Potential for Surprise — QCP Capital As the crypto community watches closely, Jelle’s insights suggest significant bullish potential for Ethereum, particularly as the market anticipates the launch of spot Ethereum exchange-traded funds (ETFs). Jelle’s analysis points to a pivotal moment for Ethereum. After a brief dip in price, Ethereum has rebounded, reaching as low as $3,384 last Friday; the asset is currently trading around the $3,500 mark and demonstrating a recovery though with a 2.2% decrease in the last 24 hours and nearly 5% over the past week. This stabilization is a minor fluctuation and a critical support level that could foresee significant price movements. According to Jelle, “ETH successfully turned $3,500 into support. Very few people are ready for this one to make new all-time highs, but $5,000 ETH is very much on the menu this year. Let’s roll.” This statement underscores a strong conviction that Ethereum is recovering and gearing up for a substantial upward trajectory. The current market dynamics provide a fertile ground for such optimism. Ethereum’s resilience in maintaining key support levels amidst market fluctuations bodes well for its potential to breach previous highs. The anticipated introduction of spot Ethereum ETFs is expected to inject further vigor into its market cap, attracting institutional and retail investors drawn to its ecosystem and the promise of enhanced liquidity and regulatory compliance. $ETH successfully turned $3,500 into support! Very few people are ready for this one to make new all-time highs, but $5,000 ETH is very much on the menu this year. Let’s roll. pic.twitter.com/k438SvCX2o — Jelle (@CryptoJelleNL) June 17, 2024 Strategic Movements and Market Sentiments The broader crypto market, especially Ethereum, is buzzing with activity, anticipating the spot on ETH ETFs. Recent data from NewsBTC highlights that the crypto community is particularly bullish on Ethereum, as evidenced by the substantial number of contracts that expire ETH options. Most of these are call options, betting on Ethereum’s price rise, with a notably low put-call ratio of 0.36, signaling a strong bullish sentiment among traders. This optimistic outlook is further supported by significant buying activities from permanent holders, particularly institutions. On June 12, these investors made one of the largest daily purchases of Ethereum, buying 298,000 ETH, just shy of the record 317,000 ETH purchased on September 11, 2023. Such investment activity not only underscores the confidence in Ethereum’s long-term value but also indicates a market poised for a rally, especially with potential catalysts such as the approval of ETH spot ETFs on the horizon. Related Reading: Ethereum Withdrawals From Coinbase Top $1.2 Billion, What’s Going On? Moreover, QCP Capital’s analysis reinforces this sentiment, noting Ethereum’s higher implied volatility than Bitcoin. This suggests that while the general crypto market might experience subdued activity by summer, Ethereum could see significant trading volumes and price action, particularly if the ETFs start trading live. Featured image created with DALL-E, Chart from TradingView
MATIC price is down over 15% and tested the $0.5150 support. Polygon is slowly recovering, but the bears might be active near $0.5650 and $0.5720. MATIC price started a fresh decline from the $0.6285 resistance zone against the US dollar. The price is trading below $0.570 and the 100-hour simple moving average. There is a key bearish trend line forming with resistance at $0.5720 on the hourly chart of the MATIC/USD pair (data source from Kraken). The pair could recover and test the $0.5720 resistance zone in the near term. Polygon Price Takes Hit After a decent increase, Polygon’s price faced heavy resistance near the $0.6285 zone. MATIC formed a short-term top at $0.6286 and recently started a fresh decline like Bitcoin and Ethereum. There was a sharp move below the $0.600 and $0.5720 support levels. The price even dipped below $0.5250 and tested $0.5150. A low was formed at $0.5151 and the price is now attempting to recover. There was a move above the $0.5350 resistance level. The price climbed above the 23.6% Fib retracement level of the downward move from the $0.6286 swing high to the $0.5151 low. MATIC is trading below $0.560 and the 100 simple moving average (4 hours). Immediate resistance is near the $0.5550 zone. The first major resistance is near the $0.5720 level or the 50% Fib retracement level of the downward move from the $0.6286 swing high to the $0.5151 low. There is also a key bearish trend line forming with resistance at $0.5720 on the hourly chart of the MATIC/USD pair. If there is an upside break above the $0.5720 resistance level, the price could continue to rise. The next major resistance is near $0.5850. A clear move above the $0.5850 resistance could start a steady increase. In the stated case, the price could even attempt a move toward the $0.6285 level or $0.650. Another Decline in MATIC? If MATIC’s price fails to rise above the $0.5720 resistance level, it could start another decline. Immediate support on the downside is near the $0.5320 level. The main support is near the $0.5150 level. A downside break below the $0.5150 level could open the doors for a fresh decline toward $0.50. The next major support is near the $0.4850 level. Technical Indicators Hourly MACD – The MACD for MATIC/USD is gaining momentum in the bearish zone. Hourly RSI (Relative Strength Index) – The RSI for MATIC/USD is now below the 30 level. Major Support Levels – $0.5320 and $0.5150. Major Resistance Levels – $0.5600, $0.5720, and $0.5850.
Uphold will stop supporting USDT, DAI, FRAX, and other stablecoins ahead of MiCA's implementation in the EEA.
The post Uphold to end support for USDT, DAI, FRAX and other stablecoins ahead of MiCA appeared first on Crypto Briefing.
XRP price dipped but the bulls were active near the $0.4700 support. The price reclaimed the 100-hourly SMA and might continue to rise if it clears $0.4950. XRP price found support at $0.4700 and started a recovery wave. The price is now trading above $0.4800 and the 100-hourly Simple Moving Average. There was a break below a major bullish trend line with support at $0.4915 on the hourly chart of the XRP/USD pair (data source from Kraken). The pair could continue to rise unless it fails to stay above the $0.4820 support zone. XRP Price Aims Higher XRP price failed to clear the $0.520 resistance and reacted to the downside like Bitcoin and Ethereum. There was a sharp decline below the $0.500 and $0.4850 support levels. There was a break below a major bullish trend line with support at $0.4915 on the hourly chart of the XRP/USD pair. However, the bulls took a stand near $0.4700. The price started another upward move from the $0.4700 low. There was a move above the $0.4750 and $0.4820 resistance levels. The price even cleared the 23.6% Fib retracement level of the downward move from the $0.5202 swing high to the $0.4700 low. The price is now trading above $0.4800 and the 100-hourly Simple Moving Average. On the upside, the price is facing resistance near the $0.4950 level and the 50% Fib retracement level of the downward move from the $0.5202 swing high to the $0.4700 low. The first key resistance is near $0.500. The next major resistance is near the $0.520 level. A close above the $0.520 resistance zone could send the price higher. The next key resistance is near $0.5320. If there is a close above the $0.5320 resistance level, there could be a steady increase toward the $0.5500 resistance. Any more gains might send the price toward the $0.5550 resistance. Another Decline? If XRP fails to clear the $0.4950 resistance zone, it could start another decline. Initial support on the downside is near the $0.4865 level and the 100-hourly Simple Moving Average. The next major support is at $0.4820. If there is a downside break and a close below the $0.4820 level, the price might gain bearish momentum. In the stated case, the price could decline and retest the $0.4550 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 – $0.4820 and $0.4700. Major Resistance Levels – $0.4950 and $0.500.
South Korea will implement its first crypto act on user protection on July 19. As a result, the South Korean financial authority has notified nearly 30 registered exchanges to review the over 600 cryptocurrencies they listed on them. Under the new law, companies that fail to comply could face severe criminal punishment. Related Reading: These […]
On-chain data shows Bitcoin is approaching the “Realized Price” of the short-term holders, a retest of which has historically been important for BTC. Bitcoin Is Close To Seeing A Retest Of Short-Term Holder Cost Basis In a new post on X, CryptoQuant Head of Research Julio Moreno has discussed how BTC has recently been near the Realized Price of the short-term holders. Related Reading: Bitcoin Mining Cost At $86,700: Price To Surpass This Soon? The “Realized Price” here refers to an on-chain indicator that, in short, keeps track of the average price at which investors or addresses on the Bitcoin network acquired their coins. When the cryptocurrency’s spot price is higher than this metric, it means that the average holder in the market is currently sitting on some profits. On the other hand, BTC’s value under the indicator suggests the dominance of losses among the investors. Naturally, when the two are exactly equal, the market as a whole can be assumed to be holding an equal amount of unrealized profits and losses. The holders could collectively be considered just breaking even on their investment. In the context of the current topic, the Realized Price of only a specific part of the sector is of focus: the short-term holders (STHs). The STHs are the investors who bought their coins within the past 155 days. Below is a chart that shows the trend in the Realized Price of the Bitcoin STHs over the past couple of years: The above graph shows that the Bitcoin price is close to the Realized Price of the STHs. This means that the margin is small, although these investors are sitting in profits right now. Thus, it’s possible that if the cryptocurrency continues on its latest bearish trajectory, a retest of the average cost basis of this cohort could be imminent. In the past, such retests have proven relevant for the asset. Moreno has highlighted in the chart the interactions the asset’s spot value has shown with this level during the last two years. It would appear that during two of these retests (marked with green circles), the coin found support at this level and rebounded upwards to continue the bullish momentum. Related Reading: Bitcoin FOMO: Social Media Users Calling To Buy Sub-$66,000 Dip However, in the three other instances (red circles), Bitcoin failed to retest the level and observed a decline. These corrections were from 8% to 12%, and the latest occurrence of the trend was at the end of April/start of May. With another retest possibly approaching for the cryptocurrency, it would be interesting to see which of the two patterns would follow this time around. If a breakdown of the level happens, the analyst notes, “the price could decline to about $60K.” BTC Price At the time of writing, Bitcoin is trading at around $65,400, down over 6% in the past week. Featured image from Dall-E, CryptoQuant.com, chart from TradingView.com
The post U.S. SEC’s Crypto Enforcement head David Hirsch Quits; Does this signal an end for the Ripple case? appeared first on Coinpedia Fintech News
David Hirsch, the SEC’s enforcement lead, has stepped down. His departure was announced through a post that indicated last Friday was his final day after nine years at the agency. As the Chief of the Crypto Asset and Cyber Unit within the Division of Enforcement, Hirsch was involved in every major project targeted by the …
The post ‘Trap for investors’ ‘worst time for alts’: Here’s what analysts are saying about altcoin and crypto market crash appeared first on Coinpedia Fintech News
Recently there was a major crash in the altcoin market, with some top altcoins dropping over 40% in the past two weeks. Several narratives are circulating on the internet regarding the possible reasons for this crash. But does this crash signify the end of the bull run? We examined various perspectives from analysts, some of …
Ethereum price declined again and retested the $3,365 support zone. ETH could start a fresh increase toward $3,700 if it stays above $3,365. Ethereum is still holding the key $3,365 support zone. The price is trading below $3,550 and the 100-hourly Simple Moving Average. There is a connecting bearish trend line forming with resistance near $3,500 on the hourly chart of ETH/USD (data feed via Kraken). The pair could form a double-bottom pattern and rise toward the $3,700 resistance. Ethereum Price Retests Key Support Ethereum price failed to gain pace for a move above the $3,580 and $3,650 resistance levels. ETH reacted to the downside like Bitcoin and declined below the $3,500 support. There was a sharp move below $3,420, but the bulls were again active near $3,350. A low was formed near the $3,350 level and the price is again rising. There was a move above the $3,380 and $3,400 resistance levels. The price was able to clear the 23.6% Fib retracement level of the downward move from the $3,649 swing high to the $3,350 low. Ethereum is now trading below $3,550 and the 100-hourly Simple Moving Average. It seems like the price could form a double-bottom pattern and rise toward the $3,700 resistance. If there is a fresh increase, the price might face resistance near the $3,460 level. The first major resistance is near the $3,500 level or the 50% Fib retracement level of the downward move from the $3,649 swing high to the $3,350 low. There is also a connecting bearish trend line forming with resistance near $3,500 on the hourly chart of ETH/USD. An upside break above the $3,500 resistance might send the price higher. The next key resistance sits at $3,580, above which the price might gain traction and rise toward the $3,650 level. A clear move above the $3,650 level might send Ether toward the $3,720 resistance. Any more gains could send Ether toward the $3,800 resistance zone. Downside Break In ETH? If Ethereum fails to clear the $3,500 resistance, it could continue to move down. Initial support on the downside is near $3,380. The first major support is at $3,350. A clear move below the $3,350 support might push the price toward $3,250. Any more losses might send the price toward the $3,120 level in the near term. Technical Indicators Hourly MACD – The MACD for ETH/USD is losing momentum in the bearish zone. Hourly RSI – The RSI for ETH/USD is now below the 50 zone. Major Support Level – $3,350 Major Resistance Level – $3,500
Trump hasn’t confirmed or denied ties to the DJT token but a blockchain analytics firm and industry leaders raised doubt that it was launched by Trump’s team.
TikTok’s new tools include AI-powered digital avatars that brands can dub over and use to sell their products in multiple languages.
Bitcoin price extended its losses and traded below the $65,000 level. BTC is showing bearish signs and might extend losses below the $64,600 level. Bitcoin remained in a bearish zone and traded below $65,000. The price is trading below $66,000 and the 100 hourly Simple moving average. There is a connecting trend line forming with resistance at $67,500 on the hourly chart of the BTC/USD pair (data feed from Kraken). The pair could continue to move down and even trade below the $64,500 support zone. Bitcoin Price Extends Its Decline Bitcoin price struggled to recover above the $66,500 resistance zone. BTC remained in a bearish zone and started a fresh decline from the $67,256 high. There was a move below the $66,500 level. There was a clear move below the $65,500 and $65,000 support levels. Finally, the price tested $64,600. A low was formed at $64,611 and the price is now consolidating losses. There was a minor increase above the $65,000 level. The price climbed above the 23.6% Fib retracement level of the downward move from the $67,256 swing high to the $64,611 low. Bitcoin is now trading below $66,000 and the 100 hourly Simple moving average. There is also a connecting trend line forming with resistance at $67,500 on the hourly chart of the BTC/USD pair. On the upside, the price is facing resistance near the $66,000 level or the 50% Fib retracement level of the downward move from the $67,256 swing high to the $64,611 low. The first major resistance could be $66,250. The next key resistance could be $66,500. A clear move above the $66,500 resistance might start a decent increase and send the price higher. In the stated case, the price could rise and test the $67,500 resistance. Any more gains might send BTC toward the $68,500 resistance in the near term. More Losses In BTC? If Bitcoin fails to climb above the $66,000 resistance zone, it could continue to move down. Immediate support on the downside is near the $65,000 level. The first major support is $64,600. The next support is now forming near $64,500. Any more losses might send the price toward the $63,200 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 – $65,000, followed by $64,500. Major Resistance Levels – $66,000, and $66,500.
Tether, the issuer of the largest stablecoin in the cryptocurrency market, USDT, announced Monday the creation of a new synthetic dollar backed by gold. The token, aUSDT, was developed on the company’s Alloy by Tether platform. By leveraging smart contracts on the Ethereum Mainnet blockchain, users can mint aUSDT by over-collateralizing it with another Tether token representing the value of gold. Tether Launches Alloy According to the announcement, Alloy by Tether, developed by Moon Gold NA S.A. de C.V. and Moon Gold El Salvador S.A., both members of the Tether Group, serve as the foundation for the newly launched token. Related Reading: Polkadot (DOT) Struggles Near $6.30 – Is Now The Time To Accumulate? In the words of Tether’s CEO Paolo Ardoino, Alloy is an open platform for creating collateralized synthetic digital assets and will soon be part of the company’s new digital asset tokenization platform that will launch later this year. Furthermore, Alloy enables the creation of various “tethered assets,” potentially including yield-bearing products. The platform’s stabilization strategies, such as over-collateralization with liquid assets and secondary market liquidity pools, will reportedly ensure the price stability of these assets. Ardoino further stated on the matter: We are thrilled to announce the launch of Alloy by Tether, introducing a class of digital assets backed by gold and tethered to a reference fiat currency. While the stabilization mechanism is different compared to traditional options like USD₮, this innovative solution marks an exciting milestone, and we eagerly anticipate how it will interact with the rest of the market. Moreover, we plan to make this innovative technology available in our upcoming digital asset tokenization platform as well. Transactions And Payments Tether Gold (XAUt), the underlying asset for aUSDT, boasts a market capitalization of approximately $573 million. The physical gold that backs Tether Gold is reportedly securely stored in Switzerland. The stablecoin issuer contends that this gold-backed digital asset allows users to engage in transactions, payments, and remittances using a currency similar to the US dollar while retaining their ownership of gold-backed digital assets. Tether has experienced substantial financial success with its USDT stablecoin, generating a profit of $4.5 billion in the first quarter alone, as reported in its attestation. However, the quality of assets backing stablecoins like USDT has faced increased scrutiny from regulators. Incorporated in the British Virgin Islands, Tether reached settlements with the New York Attorney General and the Commodity Futures Trading Commission (CFTC) in 2021, resolving allegations related to reserves disclosure and transparency. Related Reading: Metrics Signal Bitcoin Price Increase – But When Is Anyone’s Guess Overall, Tether’s introduction of a gold-backed synthetic dollar, aUSDT, represents another milestone in expanding the company’s stablecoin offerings. By leveraging the Alloy by Tether platform, users can now access a digital asset that combines the stability of the US dollar with the intrinsic value of physical gold. Featured image from DALL-E, chart from TradingView.com
Bitcoin has been struggling even though spot exchange-traded funds (ETFs) have been bought. Here’s why, according to this analyst. Bitcoin Has Been Seeing A Rise In “Paper BTC” Recently In a new thread on X, analyst Willy Woo has talked about why BTC has seen bearish momentum recently despite the buying pressure from spot ETFs […]
Toncoin (TON), the native token of The Open Network, has had one of the best performances this cycle. The token has hit a new all-time high (ATH) twice this Friday and flipped Ethereum’s active users this week. Market watchers believe this breakout and recent performance could set the stage for a rally toward the $10 mark. Related Reading: Memecoin Fight: DADDY Surpasses MOTHER Despite Insider Trading Activity Allegations Toncoin Sets New $8 All-Time High Crypto analyst Ali Martinez recently said Toncoin was on the verge of a major breakout. The analyst highlighted the ascending triangle pattern on TON’s chart and suggested the token was gearing up for a 40% breakout above the $10 price range. On Thursday night, the token successfully tested the $7.7 resistance level, surpassing its all-time high of $7.76. TON continued its uptrend in the following hours, briefly breaking above the $8 resistance level. After setting its new ATH, Toncoin retraced below the $8 mark. TON hovered between the $7.8 and $7.9 price range before restarting its rise to a second milestone in 24 hours. On Friday, the Telegram-integrated token soared 5% to its new ATH of $8.15. This surge represents a 9% increase from the day before. Moreover, TON displays a 7.7% and 17.6% increase in the weekly and monthly timeframes. The crypto community praised Toncoin’s performance, highlighting TON’s green numbers amid the market slowdown. GeckoTerminal shared the list of the top 10 cryptocurrencies by market capitalization. Among the assets, TON is currently the only token with a positive performance in the “last 7 days carnage.” Is TON The New SOL? Crypto analysts took notice of TON’s recent performance, with many believing that a double-digit target for the summer is possible. The bullish sentiment toward TON has made several analysts, including Martinez and Daan Crypto, set their next target for the token above the $10 price range. Altcoin Sherpa said the token remains one of the “strongest charts in crypto.” The analyst had previously stated that TON’s breakout was “just a matter of time.” Similarly, some community members think Toncoin could be the new Solana (SOL). To some, the token’s performance resembles SOL’s in the previous cycle. Crypto trader ImNotTheWolf believes “TON will become the new SOL, in terms of gains potential.” Another market watcher highlighted the token’s strength amid the market. WiseAnalyse suggested TON is “the only strong chart out there” because of its real-life use and adoption. As reported by NewsBTC, Toncoin recently surpassed Ethereum (ETH) in daily active addresses. This feat was attributed to its integration with Telegram and its 900 million user base. Related Reading: Solana Set To Soar? Analyst Predicts Over 50% Surge For SOL If This Key Support Holds Unchained weighed in on the matter, stating that The Open Network blockchain might be next Solana by “virtue of challenging historical smart contract leader, Ethereum.” The report highlights TON’s performance and the community’s optimism despite its gap with Solana: While lagging behind Solana, TON’s daily active addresses have exceeded Ethereum’s figures every day except for one thus far in June. Some believe TON could close the distance in market cap with Solana. Featured Image from Unsplash.com, Chart from TradingView.com
A steady increase in the circulating supply of stablecoins shows an increasing demand for these assets. It suggests that more traders and investors are preparing to enter the market or facilitating more trading activity. The increase in the aggregate circulating supply of stablecoins over the last six months represents a significant development. The aggregate supply […]
The post Demand for stablecoins grows as market prepares for volatility appeared first on CryptoSlate.
The Chat Control law is aimed at combating child exploitation material, but Meredith Whittaker said it’s just the latest proposed tactic to undermine encryption.
Publically traded Bitcoin mining companies in the US briefly reached a combined market cap of $22.8 billion on June 15 amid a surge in their stock price during June. According to a recent analysis by JP Morgan, the growth is driven by an increase in network hashrate share and diversification into artificial intelligence (AI) data […]
The post US-listed Bitcoin miners hit record $22.8 billion market cap amid stock surge appeared first on CryptoSlate.
A leading AI image generator is mired in controversy, and community hub CivitAI is shutting it out for now.
CRV, the native token of the stablecoin decentralized exchange Curve Finance, has been dumping in over the last year or so. After last week’s plunge, the token fell by as much as 75% from March 2024 highs, a huge concern for token holders. CRV Recovers, Adds 45% After Plunging However, according to one analyst who took to X, the bottom could be in, arguing that favorable fundamental events in roughly two months could propel the token to as high as $2. CRV is changing hands at around $0.32, up 42% from last week’s lows. Most importantly, prices are stabilizing, with the impressive follow-through of June 13. After the flash crash that day, prices fell to as low as $0.22. Related Reading: Metrics Signal Bitcoin Price Increase – But When Is Anyone’s Guess However, what was encouraging was the long lower wick, pointing to welcomed demand by the close of the trading day. This push was clear the next day when prices closed higher, with bulls extending gains over the weekend. Whether the June 13 plunge marked the end of CRV woes remains to be seen. For now, the sharp 45% recovery from last week’s lows and the expansion in Ethereum prices could create demand, further propelling CRV to the $0.40 mark. Curve To Change Token Emission As Erogov’s Bad Debt Cleared The analyst thinks something big is in the pipeline for Curve Finance as a protocol and CRV as the primary token priming platform. In mid-August, the token’s inflation rate would fall from 20.37% to as low as 6.34%. This reduction would be primarily because of the protocol’s shift to CRV distribution. From August 12, Curve will automatically cease allocating CRV to the core team for vesting. Instead, gauges will distribute the token directly to the community, drastically slashing inflation. Curve gauges determine how CRV is distributed to various liquidity pools. Through gauges, Curve Finance remains decentralized. This is because token holders can now vote on how much the liquidity providers of a given pool can receive CRV as an incentive. Related Reading: Ethereum Foundation Moves $64.4 Million Worth Of ETH, Is This A Dump? Besides the shift in CRV distribution, the liquidation of Michael Egorov’s position eliminates the issue of bad debt. Accordingly, Curve can not generate real revenue for CRV holders, drawing value. According to the analyst, Curve could evolve to be a leading decentralized Forex market over the coming years. The protocol is one of the largest decentralized finance (DeFi) platforms. According to DeFiLlama, it commands a total value locked of over $2.2 billion. Feature image from DALLE, chart from TradingView
Ethereum is slipping after printing higher highs over the weekend. Considering price action, the coin is up roughly 5% from last week’s lows but is still trending below the all-important resistance at $3,700. Although ETH holders and traders are upbeat, prices must decisively close above this liquidation level, paving the way for more gains in […]
X CEO Linda Yaccarino said the social media platform — formerly known as Twitter — is on the verge of launching payment functionality for users as it continues on its path to becoming the “everything app.” Speaking at the Cannes Lions International Festival of Creativity in France, Yaccarino emphasized the innovative strides the company has […]
The post X CEO says payment functionality coming soon as platform moves closer to becoming the ‘everything app’ appeared first on CryptoSlate.
The veil of anonymity often touted as a benefit of cryptocurrency has backfired spectacularly for extremist groups. A new report by blockchain forensics firm Chainalysis reveals that the Nordic Resistance Movement (NRM), a white supremacist organization designated as a terrorist group by the US Treasury, has been using crypto donations to fund its activities for […]
MetalCore's Barony Guild System is a new way for players to form factions, share resources, and conquer in large-scale PvP battles.
The post MetalCore launches Barony guild system to enhance PvP experience appeared first on Crypto Briefing.
ZkSync, the Ethereum Zero-Knowledge Layer-2 scaling solution, has been in the spotlight for its new token. Last week, the project’s announcement of its ZK token airdrop was met with backlash from investors and the crypto community. Related Reading: Polkadot (DOT) Struggles Near $6.30 – Is Now The Time To Accumulate? Following the backlash, crypto exchange Binance announced it would list ZK and offered a new distribution program to address users’ concerns. Since its launch, ZK has dropped over 20%. ZkSync’s Airdrop Drama On June 11, ZK Nation announced the upcoming launch and airdrop of zkSync’s token. Over 3.6 billion ZK tokens could be claimed by 695,000 eligible addresses on Monday. However, the distribution left many long-term users discontent with the token allocation they received. Several investors expressed disappointment after receiving a lower allocation than users with less volume or transactions. Other customers shared that they were not eligible for the airdrop despite meeting the criteria. Similarly, various top-ranking projects built on zkSync announced they were forming a coalition after not being included in the airdrop. Element and zkApes revealed that they are not getting any tokens despite generating up to $20 million in gas fees for the network. The backlash intensified when users expressed concerns about the lack of anti-Synil filtering. The project stated in the airdrop announcement their decision not to use anti-Sybil criteria. ZkSync’s team explained it was considered an “incomplete approach.” Online reports claim that 80 million ZK tokens are going into the hands of 47,000 Sybil addresses. Over the weekend, ZK Nation addressed the criticism and users’ concerns. The team answered some of the most frequently asked questions, including the zkSync-built projects exclusion, user eligibility, and Sybil detection. Per the post, the team chose an “alternative path” to benefit organic users. As explained, an aggressive Sybil filtering would eliminate “naive Sybils” while mistakenly flagging real users. Additionally, the filtering would miss most bots and professional Sybil accounts. As a result, the airdrop’s Sybil detection was configured “to lower the rate of false positives.” The team explained that a “larger number of Sybil accounts passing through the filter” was “a conscious trade-off.” Binance Offers New Token Distribution On Sunday, Binance announced it would list ZK on June 17. The exchange also revealed it would offer a ZK token distribution program “in light of the ongoing concerns.” According to the post, Binance will distribute 10.5 million ZK tokens to up to 52,000 users who meet the criteria. The requirements include users who initiated at least 50 transactions on ZkSync Era between February 2023 and March 2024 and conducted transactions in seven distinctive months. Additionally, the claim address must not been eligible for the ZK Nation airdrop. The ZK token started trading for $0.3 and reached the $0.32 mark, according to CoinGecko data. In the following hours, the price has retraced to the $0.24 price range, a 21% drop from its launch price. However, the token’s market capitalization sits at $900 billion and its fully diluted value (FDV) is at $5.1 billion. The initial performance has received mixed reactions from the community. Some users highlighted how customer dissatisfaction could be partially responsible for the price drop. “Projects often forget that customer satisfaction is crucial for their product or innovation to succeed,” said one X user. Related Reading: This Altcoin Gem Will Overtake Solana, Predicts Arthur Hayes Ultimately, many users remain unfazed by the price drop due to the general market performance and the airdrop receivers selling their tokens. Customers seemingly consider ZK to be undervalued and an “excellent opportunity in the long term.” Featured Image from Unsplash.com, Chart from TradingView.com
The former president's son Barron is spearheading the project, Pirate Wires reported on X, without naming its sources.
A preview of Runway's next-generation tool is described as smooth, realistic, and “better than Sora.”
A Solana meme coin tied to Trump soared 80% after a Pirate Wires tweet, sparking debate over the authenticity of the claim.
The post Solana Trump meme coin surges after suspicious Pirate Wires tweet appeared first on Crypto Briefing.
Laura Perryman was found guilty of selling a dummy device that claimed to relieve chronic pain but was actually “inert.”
A crypto analyst has revealed a timeframe for XRP, the native token of the XRP Ledger (XRPL) to witness a substantial 102,590% rally. If this price surge occurs, XRP’s current modest value could skyrocket to an impressive $500 during this bullish cycle, albeit under certain conditions. Analyst Foresees XRP Surging By 102,590% In an X (formerly Twitter) post, on June 10, a crypto analyst identified as ‘Egrag Crypto,’ shared a detailed price chart depicting when XRP will surge to new all-time highs this bullish cycle. The analyst projected an astonishing price increase for XRP, revealing that the cryptocurrency could witness a 102,590% surge to a price peak of $500. Related Reading: Bernstein Analysts Revise Bitcoin Target, $200,000 And $1 Million Become Main Focus In his price chart, Egrag Crypto revealed that XRP could see a gradual price increase to $500. He pinpointed several price targets using different trend lines, highlighting a potential price surge to $6, $20, 60, $180 and then a $500 top. The analyst also disclosed a slight catch in his ambitious price forecast. From his analysis, he unveiled two major timelines for XRP to reach his predicted price target, emphasizing the possibility of the cryptocurrency following two distinct cycles – the Blue Cycle and the Green Cycle. Egrag Crypto indicated that if XRP follows the Blue Cycle, then it could potentially witness a price increase to its cycle top by July 2024. The Blue Cycle represents the 39-month period (1,186 days) during which XRP climbed to a cycle top of $1.96 in April 2021, following its all-time high of $3.84 in January 2018. In contrast, if XRP follows the Green Cycle, its price could potentially witness a breakout to the $500 cycle peak by May 2025. In this instance, the Green Cycle refers to the 49 months (1,492 days) between the December 2013 peak of $0.0614 and the XRP’s January 2018 all-time high. Egrag Crypto has based his predictions on the patterns generated from XRP’s price movements across different price cycles over the previous years. He disclosed that the duration of XRP’s rise to $500 was measured from cycle top to cycle top, utilizing this approach to determine his ambitious price target for the cryptocurrency. Momentum Suppressed By The SEC? Crypto analyst, Levi Rietveld indicated in an X post that XRP’s momentum has been suppressed by the United States Securities and Exchange Commission (SEC) for too long. The analyst refers to XRP’s ongoing legal battle with the SEC, which started in late 2020 when the regulator filed a lawsuit against Ripple, claiming that the crypto payments company was selling XRP in an unregistered security offering. Related Reading: Ethereum: 200,000 ETH Options Expiry Spurs Demand – How Far Can Price Go? Despite Ripple’s partial victory after Judge Analisa Torres ruled that programmatic sales of XRP were not considered securities, the cryptocurrency’s price remains on a downward trend. Since the beginning of the year, XRP’s value has stagnated while other altcoins in the market have surged considerably. With the lawsuit still ongoing, XRP’s price still maintains a sluggish momentum, trading under $1 for years now. As of writing, the price of XRP is $0.49, reflecting a 1.29% decline over the past seven days, according to CoinMarketCap. Crypto analyst, Egrag Crypto has also confirmed that the results of the SEC lawsuit against Ripple will be a determining factor in his bullish $500 price target for XRP. He has urged the XRP army to remain patient and prepare for July 2024 or May 2025, highlighting that these key dates could change the lives of XRP investors. Featured image created with Dall.E, chart from Tradingview.com