Geoffrey Hinton also warns that advanced AI could pose an existential threat within the next five to 20 years.
The post DOGE Army Enthusiastically Await X Payment Service In 2024 appeared first on Coinpedia Fintech News
DogeDesigner, an insider from the X and Dogecoin’s team has revealed on X that the X Payments service is expected to launch later in 2024. The enthusiastic dogecoin army is keenly anticipating the feature on Elon Musk’s platform. However, Elon Musk has not made any statements about the future of DOGE being the official currency …
Cardano (ADA) whales are back in the picture, with recent data suggesting their confidence in the crypto token may have been revived. If so, this will be massive for ADA, which could experience significant price surges soon enough based on this development. Related Reading: Solana On The Brink? Price Stalemate At Crucial $140 Support Cardano Whales Add To Their Holdings The market intelligence platform IntoTheBlock recently revealed in an X (formerly Twitter) post that Cardano whales (who hold between 100 million and 1 billion ADA) have now added 11% to their balances over the past 30 days. These investors now hold 6.71% of Cardano’s total supply. This represents a bullish development for Cardano since whale accumulation usually suggests that these investors are positioning for a potential price surge. These whales also contribute to the price surge since buys of such magnitude could trigger a rally in the price of any crypto token. Besides the whales, retail investors are also heavily invested in Cardano. Data from IntoTheBlock shows that the bid-ask volume imbalance is bullish for ADA. Furthermore, the ‘In The Money’ metric has also turned bullish for Cardano, meaning that most of these investors are currently in profit. Generally, the confidence in the Cardano ecosystem is growing once again. Data from DeFiLlama shows that the Total Value Locked (TVL) on the network has increased by over 5% in the last seven days. Lately, there has also been a significant increase in Cardano’s trading volume, meaning users are actively trading on the network. Cardano’s Rally Is Imminent Crypto analyst World of Charts suggested that Cardano might soon experience a significant rally, noting that the crypto token’s breakout was already confirmed and moving toward the projected price targets. The analyst had previously predicted that a successful breakout would take Cardano’s price to $1 in the coming weeks. Crypto analyst Trend Rider also confirmed that Cardano is already witnessing a bullish reversal, highlighting the bounce the crypto token made after flashing a bullish signal on the daily chart. In the short term, the analyst expects ADA to climb back above $0.5 and added that Cardano will need to hold above $0.51 on the weekly to end the price correction and confirm a bullish continuation. Related Reading: Whale Watch: Ethereum Fresh Buy Signal Sparks Speculation Crypto analyst Dan Gambardello, the founder of Crypto Capital Venture, also provided insights into Cardano’s future trajectory. He noted that Cardano is currently breaking its 20-day moving average (MA), which the analyst claimed is a very “nice sign” for ADA. Gambardello pointed out on Cardano’s daily chart that the 50-day MA has crossed the 200-day MA, which likely means that the bottom is already in, and this is the lowest Cardano will go. This occurrence is referred to as a golden cross and is a bullish signal, indicating the beginning of an upward trend. Featured image from Pexels, chart from TradingView
The crypto industry is popping champagne corks (or perhaps uncorking their digital wallets) after a surprise victory in the US Senate. On Thursday, the upper chamber voted 60-38 to repeal a controversial rule introduced by the Securities and Exchange Commission (SEC) known as SAB 121. Related Reading: Trump Boom: Ex-President’s Portfolio Soars 4,000% Amid Re-Election […]
AGIX is one of the leading AI tokens in the crypto space with a total supply of 2 billion, and a total trading volume of over $105 million, which is over 11% down in the last 24 hours. For over two days, the price of AGIX has been holding strong above the 100-day Simple Moving Average (SMA). The token which has been on a downward ally for quite some days, is showing some signs of price reversal and if this happens a change of direction might occur and the price of AGIX will start a new movement upward. As of the time of writing, AGIX was trading around $0.98817 above the 100-day simple moving average, about 1.68% up in the last 24 hours. Currently, there are two main resistance levels of $0.99038 and $1.04237 and two main support levels of $0.82620 and $0.75779, respectively. Technical Indicators Suggest Upward Rally For AGIX 4-Hour MACD: A technical look at the MACD indicator from the 4-hour timeframe, the MACD histograms are trending above the zero line, and both the MACD line and the Signal line have crossed and are trending above the MACD zero line, indicating a bullish trend. This can be seen in the below image. 4-Hour RSI: The formation of the Relative Strength Index (RSI) in the above image also suggests that the price of AGIX is bullish as the RSI signal line is seen trending above the 50% level. This indicates that buyers are active in the market therefore overpowering the strength of sellers. Alligator Indicator on the 4-hour timeframe: A look at the alligator indicator from the 4-hour time frame shows that the price is trading above the alligator lines as the alligator lip and teeth have both successfully crossed above the alligator jaw, suggesting that the price might continue to move in an upward direction. Support And Resistance Levels To Break Conclusively, the price of AGIX is currently trading around the $0.99038 resistance level and if it manages to break above this level, AGIX’s price will continue to move further toward the $1.04237 resistance level and if it breaks above this level, an upward trend might begin. However, should the price of AGIX fail to break these resistance levels, it will reverse and start a downward movement toward its previous support level of $0.82620. If it manages to break below this support level, the price might move further to test the $0.75779 support level. Featured image from X, chart from Tradingview.com
The post Web3, Blockchain, and Crypto Weekly Update: Major News, Market Trends, and Key Insights appeared first on Coinpedia Fintech News
Welcome to your go-to source for all things Web3, Blockchain and Crypto! Our Weekly report dives into the freshest updates and game-changing developments in the fast-paced world. We curate the best data from trusted sources to keep you ahead of the curve. Ready to stay informed and inspired? Let’s explore the latest trends and insights …
After hitting an all-time high of $73,737 in mid-March, the price of Bitcoin has not been able to sustain itself at a high level of vigor and strength. The premier cryptocurrency did, in fact, enter a new era with the April halving event, but its price performance in the past weeks has yet to reflect […]
The post Akash Network Price Prediction 2024 – 2030: Will AKT Price Hit $10 In Q2? appeared first on Coinpedia Fintech News
Launched on the Osmosis chain, the Akash Network made its first appearance in the crypto market in March 2018. This AI project is a super cloud of cloud computing, cloud services, and cloud resources. It is an open-source decentralized (DeFi) marketplace. Notably, the Akash Network’s Native token, AKT, has a circulating supply of 237,192,753 AKT …
Initially, the team identified over two million addresses as potential sybils but later refined their criteria to minimize false identifications, resulting in a more precise classification.
The cryptocurrency market has been on a hot streak in the past few days, with several large-cap assets posting significant gains in the past week. Most notably, the Bitcoin price bounced back from around $61,000 to above $67,000 for the first time in nearly a month. As expected, this latest price movement has sparked a lot of speculation and discussion around the premier cryptocurrency. Popular blockchain analytics firm CryptoQuant has shared on-chain insights into the recent Bitcoin price rally and its future trajectory. How Did Bitcoin Price Reach $67,000? In a recent report, CryptoQuant revealed the catalyst and on-chain manifestations behind BTC’s latest rally to above $67,000. According to the analytics firm, the price of Bitcoin rode to its new highs on the back of the news of lower-than-expected inflation in the United States. Related Reading: Is Dogecoin About to Take Off? Indicators Suggest Upward Momentum Ahead The inflation data released on Wednesday, May 15 showed that the Consumer Price Index (CPI) rose by 0.3% in April – lower than the expected 0.4%. This revelation suggested that inflation might be on a downward slope in the US, making risky assets like Bitcoin more attractive. In its report, CryptoQuant revealed that there has been a decreased selling pressure in the BTC market, as short-term holders are selling at low or negative profits. Meanwhile, Bitcoin balances at over-the-counter (OTC) desks have steadied, implying that fewer coins are entering the open market. What’s more, the analytics platform highlighted a particular on-chain signal that might have predicted the recent Bitcoin price rally. According to CryptoQuant, BTC miners have been extremely underpaid over the past few weeks, which often correlates with price bottoms. The Catalysts For Sustained BTC Rally? CryptoQuant, in its report, identified potential catalysts for a continued rally for the Bitcoin price. According to the on-chain data company, demand from permanent holders and largest investors is on the rise but it needs to climb rapidly to push the price of BTC even higher. Related Reading: Solana Takes The Crown: CoinGecko Ranks It The Best, Leaving Ethereum Behind In Key Metric Furthermore, the latest data shows that Bitcoin ETF (exchange-traded funds) purchases have dwindled to nearly zero daily, while stablecoin liquidity growth is also on a decline. CryptoQuant noted that these two metrics need a jolt, which might be critical for a sustained Bitcoin rally. As of this writing, the Bitcoin price continues to hover around $67,000, reflecting a 2.5% increase in the past 24 hours. According to CoinGecko data, the premier cryptocurrency is up by a significant 10% in the past week. Featured image from iStock, chart from TradingView
According to data from CoinMarketCap, Bitcoin rose by 2.9% on Friday to trade above $67,000 for the first time since April 24. This positive price performance by the maiden cryptocurrency has been attributed to the low inflation levels reported in the latest Consumer Price Index (CPI) data. However, Bitcoin is an asset subject to the influence of several forces. According to a report by blockchain analysis platform LookonChain, BTC may soon experience another price rally following an increase in the supply of a specific stablecoin. Related Reading: Unstoppable Bitcoin? CryptoQuant’s CEO Foresees Bull Run Extending To 2025 Can USDT Replicate Surging Effect On Bitcoin? In an X post on Friday, LookonChain reported that the Tether Treasury has minted an additional 1 billion USDT indicating a consistent rising demand for the stablecoin. USDT which ranks as the third largest cryptocurrency doubles as the most dominant stablecoin in the crypto space with a market cap value of $111.25 billion. The USDT token has famously recorded much growth in the last year with over 31 billion new tokens minted on the Tron and Ethereum network. Interestingly, LookonChain reveals that this rise in USDT market share contributed significantly to Bitcoin’s ascent from $27,000 to $73,000 in the past fifteen months. The theory behind this relationship stems from an increase in traders’ liquidity provided by investments in USDT. This increased market liquidity can alter the status of Bitcoin’s supply and demand and oftentimes lead to a rise in BTC’s price. Following the most recent 1 billion USDT minted by the Tether Treasury, most investors and spectators could be expecting a similar boosting effect on Bitcoin’s price, especially with the crypto bull season in play. However, Bitcoin’s price in the coming months is still likely to be influenced by other factors such as the BTC spot exchange-traded fund (ETF) market. According to data from SoSoValue, net inflows on Friday reached $177.01 million bringing the total value of the Bitcoin spot ETF market to $12.58 billion. As more major traditional finance players gain a piece of this novel market, Bitcoin is expected to experience monumental levels of demand which will translate into weighty price gains. Related Reading: Bitcoin Whales Quiet Down – Here’s Why And What It Means For The Market BTC Price Overview At the time of writing, Bitcoin was trading at $66,853, reflecting a 9.64% gain in the last week. The crypto market leader is currently in a consolidation state as it gathers momentum to break past the 67,000 resistance zone. Bitcoin is likely to remain the “diamond” of the crypto bull season for many investors based on historical price data. However, there remains a need for proper research by all investors and traders before engaging the market. Featured image from The Independent, chart from Tradingview
The post Top Altcoins For 100% Profits Coming Week! appeared first on Coinpedia Fintech News
The crypto market has displayed a significant uptrend in its valuation over the past few days with top altcoins successfully surpassing their important resistance levels, highlighting increased buying-over-selling pressure in the crypto space. However, mid-cap and low-cap altcoins have added massive valuation to their respective portfolios over the past few weeks with few altcoins outperforming …
The Ethereum burn address is a null address where ETH and other Ethereum-based tokens are sent to be permanently removed from circulation.
The post Hong Kong SFC Warns Against AI-Powered Crypto Scam Featuring Fake Elon Musk appeared first on Coinpedia Fintech News
The Hong Kong SFC (Securities and Futures Commission) has warned sternly about a crypto scam using deep fake technology. The scam involves AI-generated videos of Elon Musk endorsing a fraudulent trading platform called ‘Quantum AI.’ This scam underscores the increasing use of AI in committing fraud. The SFC has taken a public stance against Quantum …
The post Cardano’s Rally Restores $2.71 Billion in Value for Investors appeared first on Coinpedia Fintech News
Cardano recently reached the $0.48 mark again amidst a recent rally, making addresses holding $2.71 billion worth of tokens profitable after suffering losses from previous declines. Now that the Cardano addresses purchased at an average price of $0.48 have finally broken even, a further rally will make these investments profitable. Analysts also suggest that Cardano …
The post Ripple Labs Reports 108% Surge in XRPL Transactions for Q1 2024 appeared first on Coinpedia Fintech News
In the latest report released by Ripple Labs Inc., total XRPL transactions increased by 108%, rising to 251 million from 121 million in Q4 2023. New applications and users drove this impressive growth. Additionally, its volume on the DEX increased by 5% from the previous quarter. Despite these developments, the number of new wallets on …
Following the recent resignations, OpenAI has opted to dissolve its “Superalignment” team and integrate its functions into other research projects within the organization.
The post Crypto Hack Report This Week: Analyzing Recent DeFi Hacks and Security Breaches appeared first on Coinpedia Fintech News
The last week saw a bunch of high-profile cyberattacks on giant players in the cryptocurrency industry with a particular focus on DeFi platforms, crypto-hedge funds and other blockchain-based services. Join us in this week’s crypto hack report focusing on types of attacks, their methods of implementation, and the evaluation of response actions before and after …
United States authorities have charged two foreign nationals for laundering $73 million in cryptocurrency investment scams, commonly known as “pig butchering.” This development was announced by the US Department of Justice (DOJ) on Friday, with an indictment unsealed in the Central District of California against the two suspects. Related Reading: Investor Falls Victim To $71 […]
The post Solana (SOL) To Hit $200 By The End OF May Says Co-founder of Syncracy Capital appeared first on Coinpedia Fintech News
Solana’s native token (SOL) is making waves in the cryptocurrency market with its price hitting $174 on Saturday, marking its highest price in over a month before consolidating around $166. The surge has garnered attention from industry leaders, with Daniel Choung, co-founder of Syncracy Capital, predicting Solana’s rise to $200 by May’s end. Solana To …
Cardano (ADA), the proof-of-stake blockchain network known for its smart contracts, has defied recent predictions of a fall from the top 10 cryptocurrency rankings by market cap. In a surprising move, ADA has instead become the top performer among major coins, experiencing a 7% surge in the last 24 hours. This price action has ignited discussions about ADA’s potential to revisit its 2021 glory days, when it reached a peak of $3.10. Related Reading: Whale Watch: Ethereum Fresh Buy Signal Sparks Speculation A Tale Of Two Whales: Retail Accumulation Vs. Profit Taking The recent price increase can be attributed to two key factors: a surge in buying pressure and a potential upcoming “battle of the whales.” On-chain data reveals that retail investors, the so-called “whaley” masses, have been accumulating ADA aggressively, particularly between $0.48 and $0.50. This large cluster of buyers could act as a support system if the price reaches that level. However, lurking beneath the bullish sentiment is a potential obstacle. Data shows that only 40% of current ADA holders are in profit. A price increase to $0.49 could be particularly significant, as it could push the ratio of holders in loss below 55%. This milestone could trigger further buying pressure as more investors see an opportunity to move into profit territory. Whales Return? On Volume And Market Cycle Cardano’s price rally is also being fueled by a significant rise in trading volume, reaching a weekly high of $461 million according to Santiment. This surge in activity indicates growing interest in ADA, which could propel the price further upwards. But can this momentum be sustained? The answer might lie with the “original whales,” the large investors who hold a significant portion of the cryptocurrency. Interestingly, the current distribution of ADA shares some similarities with the market conditions in 2021, when the price hit $3. Back then, whales held roughly 6% of the total supply. Today, that number sits at nearly 7%, suggesting a potential return of these big players. However, analysts caution that the success of this “whale comeback” narrative depends heavily on the broader market cycle. If the current bull market reaches its peak, ADA’s price growth could be restricted, hindering its ability to revisit its all-time high. Can ADA Defy The Odds? Cardano’s recent price surge has instilled a sense of cautious optimism in the cryptocurrency community. While the strong buying pressure from retail investors and the potential return of whales are positive signs, the profitability of current holders and the unpredictable nature of the market cycle pose challenges. Related Reading: Filecoin On Fire: Analyst Torches Doubters With $15 Target In the coming weeks, it will be crucial to observe whether ADA can overcome the selling pressure at $0.49 and sustain its upward trajectory. If trading volume continues to rise alongside the price, and if the current bull market holds, ADA might just surprise everyone and revisit its much-anticipated $3 mark. Featured image from Pexels, chart from TradingView
The scammers convinced victims to transfer millions of dollars into U.S. bank accounts, which were then used to launder the illicit funds.
The post Kraken Considers Delisting Tether Amid New European Regulations appeared first on Coinpedia Fintech News
Kraken is reviewing its Tether (USDT) listing in Europe due to new MiCA regulations. The exchange's final decision hinges on regulatory clarity, sparking questions about Tether's future.
Crypto expert Willy Woo has predicted that Bitcoin will still make significant moves to the upside. He made this claim based on an indicator that suggests crypto investors are still willing to buy the flagship crypto at higher prices. Related Reading: Filecoin On Fire: Analyst Torches Doubters With $15 Target Bitcoin Still Has “A Lot Of Room To Run” Woo mentioned in an X (formerly Twitter) post that Bitcoin still has a lot of room to run before the flagship crypto experiences a reversal or consolidation. To support his bullish sentiment, he shared a chart highlighting Bitcoin VWAP (Volume-Weighted Average Price). The crypto analyst further suggested that bulls were firmly in control, stating that he would hate to be a “trapped Bitcoin bear right now.” The VWAP measures the average price of Bitcoin over a specific period and factors in the volume at each price level to determine the current sentiment in the market. The chart Woo shared showed that Bitcoin’s VWAP was currently on an upward trajectory. In a subsequent X post, Woo highlighted Bitcoin’s risk signal to further reinforce his bullish sentiment. He noted that Bitcoin is still in the early stages in its liquidity cycle and is still doing “warm-up exercises.” He added that Bitcoin’s long-term frame risk signal is relatively low as it is still consolidating under all-time highs. He claimed that this risk “only starts climbing after the floodgates open,” meaning that the best is yet to come for Bitcoin. Meanwhile, the wave of profit-taking by Bitcoin investors (since the crypto hit a new all-time high in March) looks to be done, which indicates that Bitcoin may be ready for its next leg up. Woo confirmed that profit-taking has been completed as he provided an update on Bitcoin’s Spent Output Profit Ratio (SOPR). He noted that Bitcoin is undergoing a “very healthy reset, against a backdrop of capital flows into the network climbing again.” Other Bullish Indicators For Bitcoin Crypto analyst Crypto Jebb recently highlighted an inverse heads and shoulders pattern that had formed on Bitcoin’s chart. The analyst claimed this bullish pattern could send Bitcoin’s price to $100,000. The analyst also noted several other indicators currently signaling a bullish outlook for Bitcoin. One is the Moving Average Convergence/Divergence (MACD), which he claimed had turned very bullish on the daily chart and indicated that the bulls were regaining control. He also highlighted a ‘green red green’ formation on the daily chart, which, according to Crypto Jebb, shows that Bitcoin is “doing very well.” Related Reading: Crypto Alert: VeChain Bull Run Imminent, Expert Predicts 500% Rally Meanwhile, crypto analyst Mikybull Crypto highlighted a striking similarity between Bitcoin’s 2020 post-halving price action and its price action after this halving. From the chart he shared, Bitcoin looks to be at the point of takeoff if it continues to mirror the price action from 2020. Featured image from Pexels, chart from TradingView
The burgeoning world of cryptocurrency continues to grapple with issues of transparency, with a recent donation raising eyebrows across the digital currency landscape. Notcoin, a brand new play-to-earn game built on the Telegram messaging platform, sent a hefty $6.8 million worth of its own tokens (NOT) to Telegram founder Pavel Durov. While framed as a […]
According to Judge Lane, any available funds for distribution by Genesis are being exhausted by creditor claims, which take priority over DCG’s equity stake.
Coinbase institutional research analyst David Han believes “there is room for surprise to the upside on this decision.”
The post Crypto Gaming Market Soars: Analysts Eye Top GameFi Coins for 2024 appeared first on Coinpedia Fintech News
The crypto gaming industry, known as GameFi, is experiencing a remarkable surge, reaching a market valuation of $21.8 billion, reflecting a 3.8% increase within a single day. This exponential growth has caught the attention of analysts, signaling a pivotal moment for the sector. With major developments unfolding and significant anticipation surrounding upcoming game launches, the …
The post 3 Major Crypto Events to Watch Next Week: Crypto Industry Braces for Crucial Decisions appeared first on Coinpedia Fintech News
There are three major events that will unfold in Washington, D.C., next week. These events are significant to the crypto industry in the U.S. Let’s take a look at them in brief – Biden’s Potential Veto of the SAB 121 Repeal The Senate recently passed H.J. Res. 109, a resolution to overturn the SEC’s Staff …
The post Memecoins For 3x Profits By the End of May! appeared first on Coinpedia Fintech News
After displaying a significant correction in the cross-border financial system, the cryptocurrency market has successfully regained momentum over the past week by adding $180 Billion to its valuation. Furthermore, the BTC price has reclaimed the $67K mark, indicating a positive sentiment in the crypto space. Moreover, the hype for memecoins has experienced a fresh inflow …