Australia has seen a huge rise in the crypto ATM in the last two years. From merely 67 ATMs 2 years ago, Australia now has almost 1200. This rise puts the country on number three right after the US and Canada. The Numbers Tell the Story Australia had only 67 crypto ATMs in August 2022. …
The number of new crypto ATMs in Australia has surged 17 times over the past two years, but TRM Labs has warned about their use in scams, fraud, and crime.
On-chain data shows the XRP whales have been making deposits to exchanges recently, something that could be bearish for the asset’s price. XRP Whales Have Made Several Large Moves In The Past Day According to data from the cryptocurrency transaction tracker service Whale Alert, several large moves have been spotted on the XRP network during the past day. Related Reading: Polygon On-Chain Activity Lights Up: MATIC Reversal Incoming? All of these moves are of a scale that may be associated with the whales, who are humongous entities on the blockchain that control a non-negligible part of the circulating supply. Because of their large holdings, these investors can naturally carry some influence on the market, making their moves worth following. It’s usually hard to say what a whale intended to achieve with a transaction, however, as on-chain info carries a layer of privacy. Nonetheless, depending on the type of addresses that are involved in the transfer, hints can sometimes be gathered. There have been three whale transfers with such identifying addresses in the last 24 hours. Below are the details for the earliest of them. As is visible above, this transfer involved the movement of 26.8 million XRP, worth around $15.3 million at the time that the move was executed. The sending address for the transaction was an unknown wallet, meaning that it wasn’t associated with any known centralized platform. The receiver, on the other hand, was connected to one such platform: the cryptocurrency exchange Bitstamp. Transfers like this, which go from self-custodial wallets to an exchange, are known as exchange inflows. Generally, investors deposit their coins to these platforms to make use of one of the services that they provide, which can include selling. As such, exchange inflows, especially of a large scale, can prove to be bearish for XRP. The other two exchange-related whale transactions from the past day were similar to this one, in the fact that they were also exchange inflows. In the older of the two, the whale moved 19.4 million tokens ($11 million) to the Bitso exchange. Interestingly, as the below details show, the sending address of this transfer is an exact match for the one from the Bitstamp inflow. This could suggest that the same whale may have been responsible for both of the deposits. The third exchange inflow from the last 24 hours was towards Binance, but this one had a unique sending address, so it may not be related to these other ones. This one also happens to be the largest deposit of the three, as it saw 60 million XRP ($34.2 million) move into the wallets affiliated with the platform. Naturally, it’s not certain if these whales have made the inflows for selling, but in the scenario that it’s true, the asset’s price could take a hit from them. Related Reading: Bitcoin Plummets To $59,000, On-Chain Data Reveals Why There was also a fourth whale transaction on the network in this window, but the 92.1 million XRP ($52.1 million) move was made between two unknown wallets, so it’s impossible to comment on its purpose. XRP Price At the time of writing, XRP is trading around $0.57, down more than 4% over the past week. Featured image from Dall-E, whale-alert.io, chart from TradingView.com
On-chain data shows the Bitcoin mining difficulty has seen an increase in the latest adjustment, a consequence of the hashrate’s recovery. Bitcoin Mining Difficulty Has Seen A Positive 3% Adjustment Recently The “mining difficulty” refers to a feature built into the Bitcoin blockchain that controls how hard the miners would find it to mine on […]
Ethereum price started a recovery wave from the $2,400 zone. ETH is now struggling to gain pace for a move above the $2,600 resistance zone. Ethereum started a recovery wave above $2,500 and $2,550. The price is trading below $2,550 and the 100-hourly Simple Moving Average. There was a break above a key bearish trend line with resistance at $2,550 on the hourly chart of ETH/USD (data feed via Kraken). The pair must stay above $2,485 to start another increase in the near term. Ethereum Price Attempts Recovery Ethereum price remained stable above $2,400 and attempted a recovery wave like Bitcoin. The price was able to rise above the $2,480 and $2,500 resistance levels. There was a move above the 23.6% Fib retracement level of the downward wave from the $2,792 swing high to the $2,395 low. The price even surpassed the $2,550 resistance. There was a break above a key bearish trend line with resistance at $2,550 on the hourly chart of ETH/USD. However, the bears were active near the $2,600 resistance. They protected the 50% Fib retracement level of the downward wave from the $2,792 swing high to the $2,395 low. Ethereum price is now trading below $2,580 and the 100-hourly Simple Moving Average. On the upside, the price seems to be facing hurdles near the $2,550 level and the 100-hourly Simple Moving Average. The first major resistance is near the $2,600 level. A close above the $2,600 level might send Ether toward the $2,660 resistance. The next key resistance is near $2,720. An upside break above the $2,720 resistance might send the price higher toward the $2,820 resistance zone in the near term. Another Decline In ETH? If Ethereum fails to clear the $2,600 resistance, it could start another decline. Initial support on the downside is near $2,500. The first major support sits near the $2,485 zone. A clear move below the $2,485 support might push the price toward $2,420 where the bulls could emerge. Any more losses might send the price toward the $2,320 support level in the near term. The next key support sits at $2,250. Technical Indicators Hourly MACD – The MACD for ETH/USD is losing momentum in the bullish zone. Hourly RSI – The RSI for ETH/USD is now below the 50 zone. Major Support Level – $2,485 Major Resistance Level – $2,600
TON Coin has the undivided attention of the crypto community for a while now. One of the biggest reasons is the launch of tap-to-earn games. Recently, the DOGS project had a massive airdrop, and another one from Hamster Kombat is coming soon. But there’s more to why this coin might soar soon. A Closer Look …
Bitcoin price remained stable above the $58,500 support zone. BTC is struggling and could only start a steady increase if it clears $61,500. Bitcoin is struggling to rise above the $60,200 and $61,500 resistance levels. The price is trading below $61,000 and the 100 hourly Simple moving average. There is a connecting bullish trend line forming with support at $58,800 on the hourly chart of the BTC/USD pair (data feed from Kraken). The pair might extend losses if it fails to stay above the $58,500 support. Bitcoin Price Stuck In A Range Bitcoin price remained stable above the $58,000 and $58,500 support levels. A base was formed, and the price attempted a recovery wave above the $59,500 level. However, the bears were active near the $61,200 level. There was a fresh decline, and the price retested the $58,800 support. A low was formed at $58,717 and the price is now consolidating losses. It is stuck near the 23.6% Fib retracement level of the recent decline from the $61,143 swing high to the $58,717 low. Bitcoin is now trading below $61,000 and the 100 hourly Simple moving average. There is also a connecting bullish trend line forming with support at $58,800 on the hourly chart of the BTC/USD pair. On the upside, the price could face resistance near the $59,650 level. The first key resistance is near the $60,200 level. It is near the 61.8% Fib retracement level of the recent decline from the $61,143 swing high to the $58,717 low. A clear move above the $60,200 resistance might send the price further higher in the coming sessions. The next key resistance could be $61,200. A close above the $61,200 resistance might spark more upsides. In the stated case, the price could rise and test the $62,500 resistance. More Downsides In BTC? If Bitcoin fails to rise above the $60,200 resistance zone, it could start another decline. Immediate support on the downside is near the $58,800 level and the trend line. The first major support is $58,500. The next support is now near the $58,000 zone. Any more losses might send the price toward the $56,500 support in the near term. Technical indicators: Hourly MACD – The MACD is now losing pace in the bearish zone. Hourly RSI (Relative Strength Index) – The RSI for BTC/USD is now below the 50 level. Major Support Levels – $58,800, followed by $58,000. Major Resistance Levels – $60,200, and $61,200.
Attorneys representing millions of disgruntled investors told Decrypt they intend to fight the ruling in the Second Circuit Court of Appeals.
According to a report by Immunefi, crypto hackers have stolen over $1.2 billion in digital assets from January to August 2024, marking a 15.5% increase compared to the same period in 2023. Seesawing Trend In 2024 For Crypto Hacks As the crypto industry matures, malicious actors within the ecosystem are becoming increasingly sophisticated in swindling […]
Bitcoin has recently shown signs of recovery, reclaiming the $61,000 level after a brief but sharp decline earlier this week. This bounce back in price has sparked renewed interest among the crypto community, with many closely watching for the next key moves in the market. Particularly, this latest price action has led to various analyses, focusing on whether the asset can maintain its momentum and break through critical resistance levels that have previously hindered its progress. Related Reading: Analyst Predicts Bitcoin Will Top Out By 2025, But At What Price Target? The Path Forward: Key Levels To Watch One prominent voice in the crypto community, Captain Faibik, shared his insights earlier today, emphasizing the importance of the $69,000 to $70,000 resistance zone. According to Faibik, Bitcoin has been consolidating within a ‘Descending Broadening Wedge’ for the past six months. This pattern is often seen as a precursor to a significant breakout, should the right conditions be met. Faibik pointed out that breaking through the $69,000 to $70,000 resistance level is crucial for the bulls, as previous attempts have failed to clear this barrier. However, he remains optimistic, suggesting that this time might be different due to the weakening of the resistance. If Bitcoin can successfully break out of the Descending Broadening Wedge to the upside, Faibik believes that the top crypto could easily reach the $100,000 mark by the fourth quarter of this year. However, despite this optimism, Faibik advises: For now, leverage trading might not be ideal. If you’re a Bitcoin holder, it’s time to sit back and Relax, as the Bitcoin bull run is very close. Bitcoin Gradual Recovery At the time of writing, Bitcoin is trading at $60,112, reflecting a 4.1% increase over the past 24 hours. This marks a gradual recovery from the dip below $59,000 seen earlier this week. Despite this positive movement, Bitcoin remains down 1.8% over the past week, indicating that the market is still in a state of bearishness. Another analyst, Crypto Feras, also weighed in on Bitcoin’s current price action, highlighting the importance of the $61,000 to $62,000 zone. According to Crypto Fears, this region was a critical support level that needed to hold to maintain bullish momentum. However, as Bitcoin failed to hold this level, the market experienced a further decline. Related Reading: Bitcoin’s August Candle Hints at Major Reversal—Are Bulls About to Take Over? The analyst noted that while Bitcoin is currently bouncing back, reclaiming the $61,000 to $62,000 zone and the 200-day Exponential Moving Average (EMA) is crucial for a sustained recovery. Failure to do so could result in another leg down, making the $61,500 zone a key area to watch in the coming days. Featured image created with DALL-E, Chart from TradingView
A US District Court Judge dismissed the lawsuit, saying that “no reasonable investor” could rely on Musk’s Dogecoin tweets for investment decisions.
Elon Musk, the founder of Tesla and owner of social media platform X(formerly Twitter) has won the dismissal of a lawsuit against him. A lawsuit was filed against him and his electric vehicle company Tesla accusing them of defrauding investors by hyping Dogecoin and conducting insider trading. On Thursday, U.S. District Judge Alvin Hellerstein in …
The slashing of the Bitcoin block subsidy from 6.25 Bitcoin to 3.125 during the April 2024 halving has placed financial pressure on miners.
As global economic uncertainty looms, Bitcoin (BTC) has experienced increased volatility and is struggling to maintain its footing above critical resistance levels lost over the past month. The largest cryptocurrency on the market remains in a precarious position, but emerging signs could bode well for the BTC price and the broader crypto ecosystem. Fed’s Rate Cuts Signal Hope For Bitcoin Price Recovery One promising development is the possibility of further interest rate cuts by the US Federal Reserve (Fed) later this year. According to market expert Walter Bloomberg, Goldman Sachs Asset Management anticipates that the Fed will implement a series of three consecutive 25-basis point rate cuts in September, November, and December. Gurpreet Garewal, a macro strategist at Goldman Sachs, noted in a recent report that a weak labor market, as indicated in the upcoming August jobs report, could even prompt the Fed to adopt a more aggressive approach, potentially starting with a 50-basis point cut. Related Reading: Bitcoin Forecast: Expert Reveals 4 Reasons To Be Bullish On Q4 Currently, money markets are pricing in a total of 100 basis points of rate cuts for the year, as reported by Refinitiv. This outlook aligns with comments made by Fed Chair Jerome Powell last week, who adopted a dovish tone, suggesting the central bank is open to further rate reductions to address signs of cooling in the labor market. Such a stance is generally seen as positive for risk assets, including Bitcoin. Anticipation of the rate cut had an immediate impact on the Bitcoin price, which surged to a one-month high of $65,000 late last week. However, continued volatility caused the BTC price to fall back to $57,900 on Wednesday, but it has since recovered and is trading above $60,000. Analyst Warns Of Potential Price Corrections Ahead Despite Bitcoin’s recent rebound above $60,200 on Friday, analysts are warning investors to keep an eye out for further price declines as the largest cryptocurrency still shows no signs of strong catalysts. Crypto analyst Ali Martinez has identified a sell signal on the Bitcoin hourly chart using the TD Sequential indicator, suggesting that another price correction could be on the horizon. Related Reading: The Entire Crypto Bull Run Hinges On These Factors: Analyst With this in mind, the $58,000 level has already proven to be a major support level for the cryptocurrency this week. If breached, the other major support level in the near term would be the $57,200 level, as seen on the daily BTC/USDT chart below. However, should this scenario play out, the token’s overall macro range would remain intact as this has been part of BTC’s price consolidation between $57,000 and $70,000 for the past six months following the correction from all-time highs of $73,7000. Featured image from DALL-E, chart from TradingView.com
A recent Chainalysis report revealed that crypto scammers have updated their scheme tactics on- and off-chain in 2024. Criminals have leaned toward short-term, more lucrative scrams targeting smaller entities and specific individuals, significantly reducing scams’ average lifespan by over 50% since 2023. Related Reading: Binance CEO Denies Allegations Of Mass Freezing Palestinian Crypto Assets Crypto […]
The agreement allows the new federal agency to assess the risks and capabilities of OpenAI's ChatGPT and Anthropic's Claude.
The Bitcoin Power Law Theory relies purely on mathematics. It doesn't account for the human nature of how Bitcoin is traded.
A brand new facial reconstruction can’t hide crypto scammer, crypto scam boiler rooms in Malaysia and the Philippines busted: Asia Express
The cryptocurrency market experienced an explosive rally between March 2020 and November 2021, with Bitcoin and altcoins reaching unprecedented heights. During this period, Bitcoin surged by over 2,600%, while several altcoins like Solana (SOL), Fantom (FTM), Avalanche (AVAX), and Terra (LUNA) posted gains of 500x or more. According to a recent post by renowned crypto […]
Users of the LibertyX ATMs can send BTC to a LibertyX address and receive fiat for their crypto at ATMs in 30 states.
Former FTX Digital Markets co-CEO Ryan Salame pleaded guilty to two felony charges in September 2023 and was sentenced to 90 months in prison in May 2024.
In this bearish market sentiment, cryptocurrencies are experiencing significant selling pressure. Amid this ongoing market downturn, on August 29, 2024, Ripple traders booked over $8.25 million in profit, according to the data from the on-chain analytic firm Santiment. XRP Price Under Pressure Historically, significant profit booking often leads to a massive price drop or increased …
The U.S. House Financial Services Committee is poised to launch a series of crypto hearings digging into several aspects of the industry, including decentralized finance (DeFi), the Securities and Exchange Commission's oversight of digital assets businesses and the implications of "pig butchering" scams.
OpenAI says the chatbot has doubled its user count over the last year to more than 200 million per week.
Ryan Salame, the former FTX executive sentenced to 7.5 years in prison in May, has withdrawn a legal request to a New York court asking that the conditions of his plea deal with prosecutors be enforced or that his plea be thrown out and his sentence vacated.
Bitcoin is under pressure and struggling to peel back losses from early this week. Even with prices stabilizing in the last day, the path of least resistance is southwards for now. For the trend to shift, there must be a convincing close above the local resistance at around $66,000. Bitcoin Active Addresses “Anemic” Data points […]
Following the recent arrest of Telegram CEO Pavel Durov in France, the messaging platform is facing escalating legal challenges across multiple countries. Local media reports indicate that Indonesia is contemplating a ban on Telegram due to its alleged facilitation of pornography and online gambling activities. Global Scrutiny On Telegram According to a local media report, Indonesian Communication and Informatics Minister Budi Arie Setiadi has voiced strong concerns, stating that the Ministry has already warned Telegram about its content moderation practices. Per the report, Minister Budi Setiadi emphasized that if evidence of illegal content is confirmed, the government would take decisive action to block the platform. This intensifying legal scrutiny comes on the heels of a troubling incident in Central Java, where a 20-year-old resident, identified as “MAFA,” was arrested for allegedly managing a child pornography group on Telegram. The Indonesian authorities are reportedly monitoring the platform for further violations. Related Reading: Solana Price (SOL) Slips: Will a Break Below $140 Trigger More Downside? In France, Durov’s legal troubles have deepened since his arrest at Le Bourget Airport. The Paris prosecutor’s office has reported that he faces 12 serious charges, including complicity in child pornography sales, drug trafficking, fraud, and failure to cooperate with investigations. Durov has since been granted bail under strict conditions: he must pay €5 million, report to police twice a week, and remain within French territory. Paris prosecutor Laure Beccuau confirmed that there are sufficient grounds to investigate Durov on all charges related to his initial arrest. However, the legal challenges for Telegram extend beyond France and Indonesia, as the Indian government has also launched an investigation into the platform. As reported by NewsBTC, authorities in India are examining claims that Telegram is being used for criminal activities, including extortion and gambling. Similar to investigations underway in France and Indonesia, the messaging platform could face potential bans in these countries. TON Price Continues To Struggle Toncoin (TON) plunged about 20% after Durov was arrested outside Paris on August 24, before paring some of those losses. TON’s total value locked (TVL) has fallen to $357 million from a high of $769 reached in July, according to data provider DefiLlama. In the wake of this price crash, certain Toncoin supporters perceived an opportunity amidst the chaos. DWF Labs, a crypto market maker with a stake in the token, seized the moment to invest “millions” of dollars in Toncoin following the decline, as confirmed by co-founder Eugene Ng to Bloomberg. Related Reading: Bitcoin Forecast: Expert Reveals 4 Reasons To Be Bullish On Q4 Despite the efforts to stabilize Toncoin’s value, the cryptocurrency has struggled to regain its footing. The TON price has continued its downward trajectory, showing no signs of recovery with a further 1% drop in the 24-hour timeframe. The token has sustained substantial losses over the past month, amounting to nearly 17%, currently trading at $5.54. In case of further price retracements, bullish investors will need to keep a close eye on the $5.15 and $4.87 marks, the largest support levels for the token on its daily TON/USDT chart. Featured image from DALL-E, chart from TradingView.com
Macron has faced widespread and international backlash for the arrest of the Telegram founde
Tech giants such as Apple, Nvidia and Microsoft are investing in OpenAI’s upcoming funding round, which could raise its valuation to over $100 billion.
Interactions with Ethereum DApps are soaring, but ETH price has failed to react.