United States prosecutors announced nearly $5 million worth of Tether (USDT) has been seized from a crypto scammer, while in Kansas, a former bank CEO is going to jail for embezzlement.
The Federal Court of Australia ruled on Friday that cryptocurrency exchange Kraken's operator in Australia, Bit Trade Pty Ltd, "contravened" with a section of the nation's Corporations Act.
Andreas Szakacs, the co-founder of OmegaPro was arrested in Turkey in relation to his alleged involvement in a multi-billion-dollar crypto scheme.
Avalanche (AVAX) shows signs of a potential rally after enduring months of aggressive corrections. Currently trading at $23.43 when writing, AVAX has recently broken past a critical resistance level at $22.80, confirming a structural shift in the daily timeframe. Related Reading: Altcoin Season Looms – 3 Tokens to Watch Out For: Solana, Avalanche and DTX […]
The XRP price is trading around the psychological barrier of $0.60 after breaking through earlier in the week. Notably, XRP has exhibited interesting price action amidst wider market uncertainty, although many cryptocurrencies are starting to turn positive. While some market participants are still bearish on XRP, others are looking out for a very bullish trajectory. A crypto analyst has revealed an XRP technical analysis that many bullish proponents can resonate with. According to the analyst, XRP is set to surge to $32 in the coming months. XRP Price Surge Of Epic Proportions Despite the broader volatility, many cryptocurrencies have begun to show signs of recovery, with XRP also a focal point of interest. The XRP analysis in question was posted through the social media platform X by Tylie Eric. This analysis was accompanied by an XRP / U.S. Dollar price chart on the 1D candlestick timeframe. As such, the price chart shows XRP’s price action as far back as late 2020. Central to the analysis is the depiction of a symmetrical triangle pattern, which has been gradually forming since early 2021, when XRP reached a peak trading value of $1.96. Related Reading: Historical Data Suggests Bitcoin Could Rise 1,000%, Here’s Why Over the years, XRP has displayed a series of lower highs and higher lows, which have progressively tightened into a narrower trading range. This pattern is often regarded by technical analysts as a sign of a potential breakout, where the price could move significantly in either direction once there is a breakout. #XRP WELCOME TO MONDAY. I’m a visual individual. Let this chart rekindle the spark. pic.twitter.com/xZXe4cpou1 — Tylie E (@TylieEric) August 19, 2024 Recent price action now puts the XRP price trading at the upper trendline of the triangular pattern. A breakout to the upside would cement a bullish rally for the cryptocurrency. According to the price target noted by Tyler, this breakout could see XRP initially surging to its current all-time high of $3.5 before facing resistance. However, the sheer nature of the bullish breakout would see XRP quickly clearing this resistance and going as high as $32. His timeline for this happening is between now and the end of the year. This projection, if realized, would represent a substantial 5,230% increase from the current price of XRP. What’s Next For XRP? Market sentiment around XRP is currently mixed. Tylie Eric’s forecast is particularly bold, predicting that the XRP price could climb as high as $32 by the end of the year. While surges of such proportions are not new to the crypto XRP, the chances of such an XRP surge happening are very slim at the moment. However, XRP has seen several other bullish predictions of a similar nature in recent weeks, particularly in the wake of the conclusion of the Ripple-SEC lawsuit. Related Reading: Glassnode Report Reveals Why The Bitcoin Price Dropped Below $50,000 On the other hand, a segment of the market remains bearish on XRP. One analyst recently even went so far as calling XRP the “biggest scam in crypto.” At the time of writing, XRP is trading at $0.6008 and is only on a 1.29% gain in a 30-day timeframe. Featured image created with Dall.E, chart from Tradingview.com
The altcoin industry has consolidated in a bearish outlook for the past five months despite the notable rise in demand from institutional investors. The increased crypto regulatory clarity in the United States has created an enabling environment for further altcoin growth. For instance, the SEC has dropped investigations into Ethereum and Solana as alleged security …
Institutional interest in Bitcoin ETFs signals growing mainstream acceptance and could drive further market stability and investment.
The post US Bitcoin ETFs extend inflow streak as BlackRock reels in $75 million appeared first on Crypto Briefing.
The cryptocurrency market is on the cusp of a major bullish trend, with Bitcoin leading the charge. Several altcoins showing signs of breakouts and among the notable performers are Render, which is gaining momentum, and Chainlink, which has started to break out. The Graph is on the verge of a strong breakout, while Stacks is …
Ethereum’s Dencun upgrade has "greatly improved” the economics of Ethereum rollups. However, Galaxy says it also brought more failed transactions.
Defunct cryptocurrency exchange Mt. Gox appears to have transferred approximately $75.36 million worth of Bitcoin to Bitstamp crypto exchange in what seems to be a preparatory move for another round of payouts to its creditors, data from on-chain analytics platform Arkham Intelligence shows. Wider Crypto Market Tumbles After Mt. Gox Bitcoin Transfers The Japan-based cryptocurrency […]
Sony's blockchain initiative, Soneium, could drive mainstream Web3 adoption, bridging technological and cultural divides while fostering innovation.
The post Sony to launch Ethereum L2 Soneium to ‘realize the open internet’ appeared first on Crypto Briefing.
The SEC hit back at Richard Heart’s bid to dismiss its lawsuit, claiming it has sway over him as his alleged illicit securities sales targeted the US.
The court found Bit Trade failed to comply with legal obligations regarding the design and distribution of Kraken's margin trading product.
USDD’s Bitcoin collateral was removed without a vote from its DAO, but Justin Sun insists it’s a normal event in DeFi.
Recent reports claim that Robert F. Kennedy Jr. will drop out of the US presidential race on Friday. The rumors have made PolitiFi tokens rise over 15% on the last day. While tokens inspired by RFK Jr. have plunged, Trump-themed memecoins took the lead with a 40% surge. Related Reading: Dogecoin Soars 6.5% Following Elon Musk’s Post, Is A Breakout Imminent? RFK Jr. To Dropout Of The Presidential Race During this cycle, memecoins have been at the front of the industry, becoming the largest narrative of the first two quarters. Due to the sector’s nature, crypto investors have immortalized the current event through these tokens, including the upcoming November US presidential elections. A candidate’s crypto stance has become a key factor for voters after the Biden administration’s crackdown on the industry. As a result, pro-crypto candidates have received significant support from the community. Robert F. Kennedy Jr. was among the first to share his industry-friendly approach throughout his campaign, endorsing Bitcoin and blockchain technology. However, recent reports claim the Independent candidate will drop out of the race on Friday. According to ABC News, sources close to Kennedy claim that the presidential candidate will endorse former US president Donald Trump after dropping out. Trump embraced the industry this year and later started accepting donations of different cryptocurrencies. Per the report, “One possible scenario being discussed is for Kennedy to appear on stage with Trump at an event in Phoenix on Friday.” Sources familiar to both candidates cautioned that nothing is finalized and “Kennedy’s thinking could always change.” Nonetheless, the news comes days after the Independent candidate revealed he would not endorse US VP and Democratic candidate Kamala Harris. Trump Memecoins Take The PolitiFi Lead PolitiFi tokens surged 15.5% in the last 24 hours, with the price of memecoins inspired by the former US president taking the lead. As the rumors of RFK Jr. endorsement hit, online reports revealed the republican candidate’s chances of winning the election rose again. According to Polymarket’s 2024 Presidential Election Forecast, Trump’s chances rose to 54% after the news, with a 7% lead against Kamala Harris’ chances. Following the news, the largest Trump-themed token, MAGA (TRUMP), saw a massive increase. TRUMP’s price has taken a hit since the end of July when it was trading above the $6 mark. The memecoin retraced below the $3 support zone following the August market crashes, registering a 41.5% drop in the last 30 days. However, TRUMP skyrocketed 55.6% toward the $4.14 mark on Thursday. As of this writing the token is trading at $3.7, a 40% increase in the last 24 hours. Other memecoins inspired by the former US president also saw a significant surge. Related Reading: AAVE Breaks Out Of 2-Year Accumulation Range, Is A Parabolic Run Ahead? After the news, Doland Tremp (TREMP), Super Trump (STRUMP), and MAGA Hat (MAGA) rose 16%, 25%, and 23% respectively. Meanwhile, the KAMA and KEIDY memecoins registered a 30% and 57% price drop in the last 24 hours. Featured Image from Unsplash.com, Chart from TradingView.com
In the latest development, Changpeng Zhao, the former CEO of Binance, has been transferred from prison to a halfway house at the Residential Reentry Management office in Long Beach, California. While there were false rumors and speculation that Zhao has been officially released from all custody, recent federal inmate trackers have been updated to show …
In a series of scathing social media posts, Charles Hoskinson, the founder of the Cardano (ADA) blockchain, has sharply criticized the Democratic Party’s stance on the crypto industry, particularly the actions and perceived intentions of Vice President Kamala Harris. Hoskinson’s criticism stems from a perceived lack of clear, tangible support for the crypto ecosystem from […]
The new project, "Soneium" will be a layer-2 network atop the Ethereum blockchain, using technology from Optimism's OP Stack.
The rising amount of Bitcoin OTC desk balances for miners indicates “significant selling activity” among miners.
AIIB's blockchain bond issuance could revolutionize global fixed-income markets by enhancing transparency, reducing risks, and improving efficiency.
The post World’s second-largest development bank AIIB raises $300M in first blockchain-based digital bond issuance appeared first on Crypto Briefing.
For the first time since 2020, the Federal Reserve finally seems to be on track to cut U.S. interest rates in September. The US Federal Reserve chair Jerome Powell is widely expected to use a keynote speech at a major central banking conference on Friday to indicate support for a rate cut ahead of next …
Hong Kong is in a pretty challenging situation, trying to be one of the most prominent crypto hubs. Even with the city’s efforts to create a favorable regulatory environment, more than a dozen exchanges struggle to get full licenses from the Securities and Futures Commission. This situation, according to a Bloomberg report, shows the challenges […]
With each month, the Bitcoin performance can vary widely depending on how investors are feeling toward the market. Years of monthly return data available for the cryptocurrency have led to investors and analysts trying to pinpoint the cryptocurrency’s next move based on historical performance. As the month of August draws to a close, Bitcoin investors are already looking toward September in hopes that the new month will come with better tidings. Bitcoin Looks To End August On A Negative Note Despite starting out on a high note, the Bitcoin price saw multiple crashes in August as the month drew out further. The first week of the month came with a 30% crash for the BTC price, which translated to a market-wide crash that saw altcoins suffer particularly. Related Reading: Here’s What’s Going On With The Shiba Inu Price Since then, there has been a recovery in the Bitcoin price but it is far from its starting point. This price decline means that the month of August has followed the trend of the last two years, coming out in the red. So far, according to data from Coinglass, the Bitcoin price price is down 6.03% in the month of August, at the time of writing. The performance this month is not exactly out of the ordinary as the Bitcoin price has had more red months than green months since its inception. The data begins in 2013, and it provides 12 years of monthly returns since then. Out of those 12 years, the BTC price has closed in green in 8 different years, leaving only four green August closes for the cryptocurrency. So far, the only times the digital asset has closed the month of August in the green looks to be during bull markets. This is seen in 2017 with a 65.32% increase, as well as 2020 and 2021 with positive returns of 2.83% and 13.8%, respectively. Will September Be Better? Historically, the month of September has been even worse for the Bitcoin price compared to August. In 11 years, there have been 8 months of negative returns compared to 3 months of positive returns. This has brought the average monthly return for September to -4.78%. Related Reading: Ethereum Metrics Turn Positive: Can This Drive A New ATH Above $5,000? With August performing so poorly, expectations are that the month of September could go in the opposite direction. However, not everyone agrees with this point of view. Crypto analyst @btc_charlie on X (formerly Twitter) has warned that September may not go as planned. He points out that the same people who are saying that prices will go up are the same people who missed the Bitcoin bottom and top. Instead, he directs investors to look at the average monthly returns for September, which are negative, when making their decisions. Featured image created with Dall.E, chart from Tradingview.com
In 2020, the Financial Crimes Enforcement Network proposed imposing know-your-customer requirements on unhosted wallets, drawing immense backlash from the crypto industry. This week, the Treasury Department formally withdrew the proposal.
Crypto analyst Quinten François recently highlighted a cycle indicator that suggests the Bitcoin bull run is just about to begin. The crypto analyst highlighted several fundamentals that paint a bullish picture for BTC heading into this bull run. The Bitcoin Bull Run Could Be Two Months Away In an X (formerly Twitter) post, Quinten reminded […]
Bitfarms appears to be making itself a more challenging target for its competitor, which has been gunning for a takeover for over a year.
An analyst has pointed out how Aave is currently forming a bearish pattern that led to significant drawdowns the last four times it occurred. Aave Is Showing A TD Sequential Sell Signal Right Now In a new post on X, analyst Ali Martinez has discussed about a Tom Demark (TD) Sequential signal that has taken shape in AAVE’s 1-day price chart recently. The “TD Sequential” here refers to a popular technical analysis (TA) indicator that’s generally used for locating probable points of reversal in any asset’s price. This indicator has two phases: the setup and the countdown. In the first of these, candles of the same polarity (that is, whether red or green) are counted up to nine. When these nine candles are in, the asset may be considered to have reached a point of trend exhaustion. Related Reading: Bitcoin Investors Be Warned: Legendary MVRV Ratio About To Death Cross Naturally, if the candles leading up to the setup’s completion had been green, then the TD Sequential would give a sell signal. Similarly, nine red candles would suggest a potential turnaround towards the upside. The second phase, the countdown, begins as soon as the setup is finished. This phase works much like the first one, except for the fact that candles are counted until thirteen here, not nine. Once these thirteen candles are also in, the price could be assumed to have arrived at another likely top or bottom. Aave has recently finished the first of these TD Sequential phases recently, as the chart shared by the analyst showcases. As is visible in the graph, Aave has finished a TD Sequential setup with nine green candles recently, meaning that the coin could have reached a potential top, at least from the perspective of the indicator. This TD Sequential signal has emerged for the cryptocurrency after its price has significantly outperformed the rest of the sector, showing a sharp rally of around 28% over the past week. In the chart, Martinez has also highlighted the previous four instances of the asset forming this signal. Clearly, the coin’s price went on to register a drawdown following each of these. More specifically, AAVE saw a drop of 27% on average after these signals appeared. Given this past pattern, it’s possible that Aave could end up seeing another similar decline this time as well. Related Reading: Bitcoin Resistance: Here Are The Challenges Ahead For BTC In a more positive development, Aave has seen a burst of activity on its network recently, as data from the market intelligence platform IntoTheBlock has indicated. It would appear that the price surge has attracted a large amount of attention to the asset as the total number of active addresses has reached its highest point in over a year. AAVE Price Following its impressive rally, Aave has broken beyond the $134 mark. Featured image from Dall-E, IntoTheBlock.com, charts from TradingView.com
Malaysia gets out the steamroller as Bitcoin mining stolen electricity issue worsens, Korea’s new ‘exchange closure’ scam. Asia Express
On-chain data shows the OTC desks that Bitcoin miners like to use have seen their balance shoot up, a sign that historically been bearish. Bitcoin Miners Have Been Depositing Big To OTC Desks Recently As pointed out by an analyst in a CryptoQuant Quicktake post, BTC miners have been sending coins to over-the-counter (OTC) desks […]
The SpaceX mission will test new laser communication technology and feature the first commercial spacewalk.