The post Binance Not Liable for User’s $1M Loss, It Was Due To Compromised Device appeared first on Coinpedia Fintech News
Binance co-founder has addressed allegations over a security breach that led to a user losing $1 million in crypto. Yi He clarified that the user’s account was accessed via a compromised computer and the crypto hacker had sold the victim’s cryptocurrency after gaining access, which resulted in trading losses, and that Binance’s security systems were …
The post Solana Launches Record 455K Tokens In May appeared first on Coinpedia Fintech News
Solana has witnessed a remarkable creation of 455k tokens in May, surpassing other blockchains like Ethereum Layer 2 Base and BNB Chain. The surge was largely driven by meme coins, with Dogwifhat, Bonk, and Book of Meme drawing significant attention. Platforms like Pumpdotfun have simplified token creation on Solana enabling anyone to launch tokens in …
Data shows that Bitcoin short-term holders have seen a decrease in their realized profit, a sign that their appetite for harvesting gains may be diminishing. Bitcoin Short-Term Holders Are Realizing Much Fewer Profits Now As explained by CryptoQuant author Axel Adler Jr in a post on X, the BTC short-term holders have been realizing much […]
The post Crypto Market Records A Bullish Move As Bitcoin Reclaims $69,000! appeared first on Coinpedia Fintech News
The market leader, Bitcoin (BTC) price with a surge of 57.03% in its trading volume has successfully reclaimed the $69K mark after hovering close to its resistance level over the past week. However, the altcoin leader, ETH price, continues hovering close to its important resistance of $3,800. On the other hand, the Binance (BNB) token …
A Chinese crypto trader shared his experience after losing most of his savings from Binance due to a Chrome plugin exploit. The trader called out the exchange’s allegedly slow response that allowed his funds to be stolen. Related Reading: May Madness: Crypto Industry Suffers $385 Million Loss To Hackers Malicious Chrome Extension Swipes $1 Million […]
The trading platform is reportedly concerned that the veteran meme stock trader could use his influence to pump his own GameStop holdings.
The crypto market is showing signs of a bullish resurgence, with reports of an impressive $2 billion in inflows for May alone. Alongside this positive trend, Ethereum (ETH) has seen a notable turnaround in investor sentiment as the long-awaited spot exchange-traded funds (ETFs) for the market’s second-largest cryptocurrency received approval from the US regulators last week. Record-Breaking Month For Crypto Products According to a recent report from research firm CoinShares, digital asset investment products consistently attracted inflows during the four weeks, amassing a total of $185 million. May proved to be particularly fruitful, with inflows surpassing $2 billion. This achievement marks the first time on record that year-to-date inflows have exceeded the $15 billion mark, highlighting investors’ growing interest in the crypto market. Related Reading: Solana-Based GameStop Tribute Token (GME) Soars 300% Following Roaring Kitty’s Return Most inflows originated from the United States, with a net inflow of $130 million. However, it is worth noting that ETF issuers experienced outflows amounting to $260 million. Switzerland also witnessed a significant uptick in investor interest, recording its second-largest weekly inflow this year at $36 million. Meanwhile, Canada witnessed a positive turnaround, with inflows of $25 million, despite experiencing a net outflow of $39 million in May. Ethereum Rebounds With $200M Inflows Per the report, Bitcoin (BTC) continued to dominate the crypto market, attracting inflows totaling $148 million. Conversely, short-Bitcoin products witnessed another week of outflows, amounting to $3.5 million, suggesting that sentiment among ETF investors remains largely positive for the leading cryptocurrency. Ethereum, on the other hand, experienced a notable change in investor sentiment following the Securities and Exchange Commission’s (SEC) approval of a spot-based ETF that is expected to launch in July 2024. CoinShares notes that this approval marked a turning point for Ethereum, which had endured ten weeks of outflows totaling $200 million. Interestingly, the positive news for Ethereum had a ripple effect on Solana (SOL), which received an additional $5.8 million in inflows last week. Related Reading: Bitcoin, Ethereum On Exchanges Drop To New Lows, What A Supply Squeeze Would Mean For The Market While direct investments in crypto assets have been thriving, blockchain equities faced a different scenario. In the past week alone, blockchain equities witnessed outflows of $7.2 million. The report notes that since the beginning of the year, the sector has suffered outflows totaling $516 million, reflecting a challenging period for blockchain-related stocks. At the time of writing, Ethereum has seen a 4% price drop in the last week, resulting in a trading price of $3,770. However, the second-largest cryptocurrency on the market still holds gains of 21%, as recorded in the 30 days. Featured image from DALL-E, chart from TradingView.com
The post Dapper Labs Resolves NFT Lawsuit for $4 Million appeared first on Coinpedia Fintech News
Dapper Labs, the creator of NBA Top Shot Moments NFT Collection has settled the class action lawsuit for $4 million. The company was alleged to have violated securities laws by improperly selling the digital collectibles. The money will be allocated to a settlement fund which will be made available to the use of rightful claimants. …
XRP price is slowly moving higher from the $0.5080 zone. It could gain bullish momentum if there is a move above the $0.5250 resistance zone. XRP is attempting a fresh increase above the $0.5120 zone. The price is now trading above $0.5150 and the 100-hourly Simple Moving Average. There was a break above a key bearish trend line with resistance near $0.5160 on the hourly chart of the XRP/USD pair (data source from Kraken). The pair could start a decent increase if there is a clear move above $0.5250. XRP Price Eyes Recovery XRP price extended losses below the $0.5120 level like Bitcoin and Ethereum. The price tested the $0.5080 zone and recently started a decent recovery wave. The price was able to clear the $0.5120 and $0.5150 resistance levels. There was a break above a key bearish trend line with resistance near $0.5160 on the hourly chart of the XRP/USD pair. The pair cleared the 23.6% Fib retracement level of the downward move from the $0.5400 swing high to the $0.5080 low. The price is now trading above $0.5150 and the 100-hourly Simple Moving Average. On the upside, the price is facing resistance near the $0.5220 level. The first key resistance is near $0.5250 or the 50% Fib retracement level of the downward move from the $0.5400 swing high to the $0.5080 low. A close above the $0.5250 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 $0.5450 resistance. Any more gains might send the price toward the $0.5650 resistance. Another Decline? If XRP fails to clear the $0.5250 resistance zone, it could start another decline. Initial support on the downside is near the $0.5160 level. The next major support is at $0.5080. If there is a downside break and a close below the $0.5080 level, the price might accelerate lower. In the stated case, the price could decline and retest the $0.50 support in the near term. Technical Indicators Hourly MACD – The MACD for XRP/USD is now gaining pace in the bullish zone. Hourly RSI (Relative Strength Index) – The RSI for XRP/USD is now above the 50 level. Major Support Levels – $0.5160 and $0.5080. Major Resistance Levels – $0.5220 and $0.5250.
According to Bloomberg, Michael Saylor, the chairman of business intelligence software company MicroStrategy and a Bitcoin (BTC) bull, has agreed to pay $40 million to settle a tax fraud lawsuit. The lawsuit, filed by the attorney general’s office in Washington, D.C., accused Saylor of evading over $25 million in income taxes despite living in Washington […]
“The learning phase is over. A new era is coming,” says CryptoQuant CEO Ki Young Ju.
However, the impressive flows from BlackRock’s IBIT and Fidelity’s FBTC haven’t been enough to gain on the leading ETF asset manager by total flows, Vanguard.
Ethereum price is showing a few bearish signs below the $3,840 support. ETH could gain bearish momentum if there is a clear move below $3,700. Ethereum extended its decline and tested the $3,700 zone. The price is trading below $3,840 and the 100-hourly Simple Moving Average. There was a break below a key bullish trend line with support near $3,780 on the hourly chart of ETH/USD (data feed via Kraken). The pair could start a fresh increase unless there is a close below the $3,700 support. Ethereum Price Dips Again Ethereum price struggled to start a fresh increase above the $3,850 resistance zone. ETH failed to clear the 50% Fib retracement level of the downward wave from the $3,958 swing high to the $3,702 low. There was a rejection pattern below the $3,800 level unlike Bitcoin. The price dipped below the $3,780 level. There was a break below a key bullish trend line with support near $3,780 on the hourly chart of ETH/USD. Ethereum is now trading below $3,840 and the 100-hourly Simple Moving Average. If there is another increase, ETH might face resistance near the $3,800 level. The first major resistance is near the $3,840 level. An upside break above the $3,840 resistance might send the price higher. The next key resistance sits at $3,900 or the 76.4% Fib retracement level of the downward wave from the $3,958 swing high to the $3,702 low, above which the price might gain traction and rise toward the $4,000 level. If the bulls push Ether above the $4,000 level, the price might rise and test the $4,080 resistance. Any more gains could send Ether toward the $4,220 resistance zone. More Losses In ETH? If Ethereum fails to clear the $3,840 resistance, it could start another decline. Initial support on the downside is near the $3,730 level. The next major support is near the $3,700 zone. A clear move below the $3,700 support might push the price toward $3,660. Any more losses might send the price toward the $3,550 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 – $3,730 Major Resistance Level – $3,840
Bitcoin price found support at $67,000 and started a fresh increase. BTC climbed above $69,500 and might continue to rise in the near term. Bitcoin started a decent increase above the $68,500 and $69,500 resistance levels. The price is trading above $68,500 and the 100 hourly Simple moving average. There was a break above a key bearish trend line with resistance at $68,000 on the hourly chart of the BTC/USD pair (data feed from Kraken). The pair could gain bullish momentum if it settles above the $69,500 level. Bitcoin Price Remains Traction Bitcoin price extended its decline below the $67,200 level. BTC retested the $66,650 zone and recently started a fresh increase. There was a clear move above the $68,500 resistance zone. There was a break above a key bearish trend line with resistance at $68,000 on the hourly chart of the BTC/USD pair. The pair even cleared the $69,500 resistance zone and spiked above $70,000. A high was formed at $70,253 and the price is now correcting gains. There was a move below the $69,500 level. The price dipped below the 23.6% Fib retracement level of the upward move from the $67,283 swing low to the $70,253 high. Bitcoin is now trading above $68,500 and the 100 hourly Simple moving average. It is also holding gains above the 50% Fib retracement level of the upward move from the $67,283 swing low to the $70,253 high. On the upside, the price is facing resistance near the $69,200 level. The first major resistance could be $69,550. The next key resistance could be $70,000. A clear move above the $70,200 resistance might send the price higher. In the stated case, the price could rise and test the $70,600 resistance. Any more gains might send BTC toward the $72,000 resistance. Another Decline In BTC? If Bitcoin fails to climb above the $69,500 resistance zone, it could start another decline. Immediate support on the downside is near the $68,750 level. The first major support is $68,400. The next support is now forming near $68,000. Any more losses might send the price toward the $67,200 support zone in the near term. Technical indicators: Hourly MACD – The MACD is now gaining pace in the bullish zone. Hourly RSI (Relative Strength Index) – The RSI for BTC/USD is now above the 50 level. Major Support Levels – $68,400, followed by $68,000. Major Resistance Levels – $69,500, and $70,000.
The XRP price has been a constant point of worry for investors given that the altcoins seems to be frozen in time. The last time that the coin rallied was in the 2017-2018 bull and even though there has been another massive bull market since then, XRP failed to follow the rest of the market. While expectations for the altcoin have dropped dramatically, one analyst believes that the cryptocurrency could finally have its time in the spotlight, revealing targets for when this does happen. Why XRP Could Be Gearing Up For A Bull Rally Crypto analyst CryptoManiac101 took to the TradingView platform to share a rather interesting view of the XRP price going forward. The analyst pointed out a number of indicators that suggest that the altcoin may finally be getting ready to move. One of the major points in the analysis was the price levels and movements so far. Related Reading: Bitcoin Enters Dreaded ‘Chop Season’ – What Does This Mean For Price? The crypto analyst points out a convergence of three different moving averages in the year 2024. At the end of this is the formation of a symmetrical triangle pattern outlined in the chart. Furthermore, the convergence, which is happening around $0.51, suggests that there is consolidation going on. Now, usually, consolidation will come with accumulation, which is often good for the price, and the analyst points out that interest is rising. Going further, the crypto analyst points to the performance of XRP over the last 11 years. This begins from 2013 and moves to present time, showing how the performance of XRP has actually flattened during this time. “Significant historical price spikes, particularly in 2017 and 2018, are visible, which is what we are looking at for 2024 and 2025 years as we see some movement consistency between the two cycles,” the analyst stated. With interesting rising, these indicators could point toward an important breakout for the price. If this happens, the crypto analyst has outlined targets for how high the price could go. How High Can The Price Go? One major factor in the analyst’s prediction is the fact that such historical patterns have been previously bullish for XRP to have returned. The analyst points out that a rally usually breaks out when these patterns have seen a 75% completion. However, the current patterns have reached 88.93% completion, suggesting that a breakout is long overdue for the XRP price. Related Reading: Chainlink Is Not Done: Analyst Predicts 300% Rise Against Bitcoin In the event of a rally, the crypto analyst expects an at least 800% increase in price above $4. This future prediction is based on the potential of a breakout from the symmetrical triangle forming at the convergence of the three moving averages. In this case, the analyst expects a rally to $4.5 as a starting point.
Chamath Palihapitiya, a well-known billionaire investor, has joined the dialogue about future Bitcoin Halving events and their implications for the asset in the long term. According to the Billionaire, this notable event that occurs in the Bitcoin ecosystem every four years could propel Bitcoin’s value to as high as $500,000 in the upcoming years, and […]
Dapper Labs has reached a tentative settlement agreement with a group of investors who sued the non-fungible token (NFT) company and its co-founder and CEO Roham Gharegozlou for allegedly violating federal securities laws.
Coinbase has joined Andreessen Horowitz and Ripple in donating $25 million to the crypto-focused super PAC ahead of the United States elections.
A new survey reveals that 72% of organizations have adopted AI in at least one area as of March 2024, according to a new survey conducted by McKinsey on May 30. Meanwhile, roughly 50% of all respondents said that their organizations adopted AI in two or more business functions. Each metric is up from 55% […]
The post Nearly three-quarters of organizations now use AI, breaking adoption stagnancy: McKinsey appeared first on CryptoSlate.
The Hong Kong Securities and Futures Commission (SFC) has recently granted initial approval to 11 cryptocurrency exchanges to continue operating in the city. This marks the first step towards issuing virtual asset trading platform (VATP) licenses since 2022. The move comes as Hong Kong aims to establish itself as a prominent crypto hub alongside global […]
Bitcoin (BTC), the largest cryptocurrency in the market, recently touched the crucial $70,000 level, proving to be a significant hurdle for its price consolidation in recent months. Despite surpassing its previous high and reaching a record all-time high (ATH) of $73,700 in March, BTC experienced a 20% price correction to around $56,500 at the beginning of May. However, this correction marked the start of a renewed bullish momentum, with BTC currently trading at approximately $69,300. While Bitcoin’s price has seen some volatility and a lack of sustained bullish action, venture capitalist and market expert Chamath Palihapitiya has provided optimistic predictions for the cryptocurrency’s future. Bitcoin Price And Halving Analysis In a recent episode of the All In Podcast, Palihapitiya analyzed BTC’s historical patterns about the Halving event, which occurs approximately every four years and reduces the block reward given to miners. The venture capitalist noted that after a Halving, investors typically spend the first three months reassessing the price and the overall market situation. However, significant price appreciation has historically occurred within six to 18 months. Related Reading: Is Polkadot Preparing For A 100% Surge And Spike Above $20? To support his analysis, Palihapitiya referred to the previous Halving events. For further context, the first Halving took place on November 28, 2012, reducing the block reward from 50 BTC to 25 BTC. At the time of the Halving, Bitcoin was priced at $13, and within a year, it peaked at $1,152. The second Halving occurred on July 16, 2016, reducing the block reward to 12.5 BTC. Bitcoin’s price at that time was $664, and within a year, it peaked at $17,760. The most recent Halving occurred on May 11, 2020, reducing the block reward to 6.25 BTC. During that halving, Bitcoin was priced at $9,734, and within a year, it reached an all-time high of $69,000. Based on these historical patterns and applying the average increases from previous Halvings, Palihapitiya suggests that if Bitcoin continues to follow its performance from the last market cycle, it could skyrocket to around $500,000 by October 2025, as seen in the chart above. Notably, the expert believes that as Bitcoin’s value appreciates to such levels, it has the potential to replace gold and serve as a transactional utility for hard assets. This scenario, combined with concerns about the debasement of fiat currencies, presents intriguing opportunities for Bitcoin’s future. Increased Demand For BTC? Palihapitiya further argued during the interview that as more countries adopt a dual-currency approach, with Bitcoin being recognized as a valuable asset alongside their local currency, the demand for Bitcoin will increase. This shift would only occur as people recognize the need for Bitcoin in daily transactions for goods and services and as a store of value for permanent assets. Related Reading: Crypto Analyst Predicts ‘Major Impulse’ Move For Bitcoin, Here’s The Target Overall, Palihapitiya’s analysis of Bitcoin’s historical patterns following the Halving events provides an optimistic outlook for the cryptocurrency’s price. The potential for Bitcoin to reach $500,000 by October 2025 and its growing recognition as a dual-currency asset alongside fiat currencies offers renewed prospects for investors and the broader cryptocurrency market. Featured image from DALL-E, chart from TradingView.com
The Bitcoin mining firm also blamed “unusually cold temperatures” at its Rio Cuarto facility in Argentina for the fall in Bitcoin production.
The Chief Executive Officer (CEO) of Ripple, Brad Garlinghouse, has taken an unexpected swipe at Dogecoin (DOGE), the largest meme coin by market capitalization. Garlinghouse has criticized Dogecoin, claiming it lacks real utility due to its meme-based nature. “Dogecoin Has Not Been Good For The Industry” At the Consensus 2024 Conference, one of the world’s […]
The Qatar Central Bank (QCB) has announced the completion of the infrastructure development for its Central Bank Digital Currency (CBDC) project, marking a significant milestone in its efforts to embrace digital financial transformations. In a June 2 press release, the QCB said it has started the the first phase of its CBDC project, which is […]
The post Qatar Central Bank launches first phase of CBDC project appeared first on CryptoSlate.
Since the suit’s filing in 2021, Dapper Labs has taken steps to decentralize its NFT ecosystem. Now the class action lawsuit has been settled.
Plus: Polymarket traders doubt Trump will go to prison; Kalshi bettors are at odds with the CME FedWatch poll on rate cuts.
The launch of spot Ethereum ETF will potentially result in a supply crunch upon launch, crypto accounting software firm Integral on June 3. The projection mirrors the sentiment around spot Bitcoin ETFs before their launch earlier this year. The ETFs connected to the flagship crypto have since experienced record inflows, with the BTC supply on […]
The post Spot Ethereum ETFs will legitimize crypto, lead to ETH supply crunch – Integral appeared first on CryptoSlate.
Binance, one of the world’s leading cryptocurrency exchanges, has recently announced significant changes to its stablecoin regulations in Europe. Starting from the end of June, Binance will begin restricting access to “unauthorized” stablecoins in compliance with the new MiCA stablecoin rules across the European Economic Area (EEA). Binance Adapts To New Stablecoin Regulations Under the […]
On-chain data shows Bitcoin could have significant support between $66,900 and $68,900, which may help provide solid ground for a fresh surge to higher levels. A Large Amount Of Investors Bought Their Bitcoin Between $66,900 & $68,900 According to data from the market intelligence platform IntoTheBlock, BTC is currently floating above a major demand zone. In on-chain analysis, the strength of any support or resistance level is based on how much “demand” was present at it. Related Reading: Bitcoin ‘Realized Volatility’ Showing Very Rare Trend: What Could Be Next Below is a chart that shows the various Bitcoin price ranges near the current spot value and how they compare in terms of the total amount of the asset the investors purchased. Here, the size of the dot correlates to the total number of tokens that were last acquired at the corresponding price range. It would appear that, out of these zones, the levels between $66,900 and $68,900 currently host the cost basis of the greatest amount of BTC. More than two million addresses have acquired 1.1 million BTC inside this range. Since the current BTC spot price is above these levels, all investors who buy there will make slight profits. Investor cost basis is important in the on-chain analysis because the level has special psychological significance. A potential retest of it can result in a flip of the profit-loss balance for the holder. As such, investors may be prone to making some moves when a retest like this takes place. A holder carrying losses before the retest (that is, the retest is happening from below) may be tempted to sell for fear that the price will go down in the future. On the other hand, an investor in the green before the retest may have reason to believe the price would go up again and, thus, could decide to accumulate more. When retests of price ranges thick with investors, one of these reactions may arise on a scale that could be relevant for the wider market, therefore, major demand zones below can act as support points, while those above can act as resistance blocks. Related Reading: Crypto Analyst Says Bitcoin Will Rise To $79,600 If This Holds Bitcoin has a large support range of $66,900 to $68,900 right now, which could help cushion any falls should the asset’s price decrease. From the chart, it’s also apparent that, at the same time, the Bitcoin ranges ahead are thin with holders. This could, in theory, provide the ideal conditions for a rally towards higher levels. BTC Price Bitcoin surged past the $70,000 level earlier in the day, but the asset has since retraced to $69,100. Featured image from Dall-E, IntoTheBlock.com, chart from TradingView.com
A new study by McKinsey shows Asia and China leading the charge in AI adoption—and lost jobs a fading business priority.