Retail investors flocking to the digital currency market are finding themselves bombarded with advice from social media crypto influencers. These self-proclaimed gurus promise insights and recommendations, but a new study suggests their pronouncements may be more flash than substance. Crypto Influencers: The Impact Of Tweets The research, conducted by a team at leading universities, analyzed […]
US Senate's vote to revoke SEC's crypto rule now hinges on Biden's veto, with potential major implications for the crypto sector.
The post What happens if Biden vetoes Senate bid to cancel SEC’s crypto rule? appeared first on Crypto Briefing.
The Bitfinity EVM is designed to allow developers to Bitcoin-based Solidity smart contracts, allowing them to transfer BTC, Ordinals and Runes.
The Nigerian court also ruled that the Binance exchange can be served the FIRS tax evasion charges through its executive Tigran Gambaryan.
The People’s Bank of China (PBoC) and the Hong Kong Monetary Authority (HKMA) have taken significant steps to expand the Digital Yuan (e-CNY)’s reach beyond mainland China. On May 17, the HKMA announced a pilot scheme enabling the use of the Central Bank Digital Currency (CBDC) for cross-boundary payments. According to the authorities, this e-CNY […]
The post Hong Kong pilots first-ever digital yuan payment system for cross-border transactions appeared first on CryptoSlate.
In the wake of the attack, Pump.fun’s largest tokens have recovered. But some affected tokens remain in limbo.
The bill aims to introduce a licensing scheme for crypto firms, which will be handled by the CMB and bring the firms under the regulator's scope.
Pink Drainer, a notorious crypto wallet-draining service, announces its closure after pilfering over $85 million from more than 21,000 victims in the past year.
The post Pink Drainer shuts down after dealing over $85 million in damage appeared first on Crypto Briefing.
In a recent analysis provided by the crypto analyst Dark Defender, a compelling case has been made for the potential significant rise in the price of XRP. Through a detailed examination of the XRP/USD chart on a monthly time frame, as sourced from Binance, Dark Defender highlights a large bullish formation, which he describes as a “bull flag” across multiple longer-term time frames including monthly, three-month, and six-month charts. XRP Price Gears Up For Explosive Move The analysis shows a substantial initial upsurge in price marked by a green arrow, suggesting a strong bullish momentum that started around early 2017 and peaked later that year. The price action following this peak is what Dark Defender identifies as a bull flag pattern. This pattern is characterized by a period of consolidation following a sharp movement in price, resembling a flag on a pole. The consolidation, traced with a red descending trend line and a blue ascending trend line, forms a converging pattern known as a triangle, which typically suggests that the period of consolidation is nearing an end as the lines converge. According to Dark Defender, this suggests a breakout is imminent. Related Reading: XRP & Cardano Whales Load Up Bags: Preparation For Altcoin Rally? “I have read some posts that XRP had a bull flag in the daily time frame, etc. If those are correction bull flags, this is a bull flag, too. But a bullish one. It is in the monthly, three-month, and six-month time frames. If you know a bull flag, you can enjoy your coffee today. Cheers,” he stated. In his forecast, Dark Defender uses the flag pole and Fibonacci extension levels to predict future price points. After the expected breakout above the red resistance line, the first target is situated at the 161.80% Fibonacci level, which would bring XRP to approximately $1.88. A further ambitious target is set at the 261.80% Fibonacci level, priced at about $5.86. The most optimistic target lies at the 361.80% Fibonacci level, forecasting the price to soar as high as approximately $18.23. Notably, Dark Defender’s blue line, analogous in length to the flagpole, shows that the XRP price could rise well above $18. Different Analysis, Similar Price Targets This analysis was further commented on by another renowned XRP community analyst, EGRAG CRYPTO, who brought attention to the fact that the flag portion of the pattern extends beyond half the length of the initial pole, a structural detail that might typically invalidate the bull flag designation. Related Reading: Buckle Up, XRP Fans: Analyst Eyes Price Explosion To $0.65 In Next 5 Days “I’ve dabbled in this analysis before, but lately, I’ve become increasingly intrigued by the potential of a symmetrical triangle breakout. What caught my eye is that the Flag is extending beyond half the length of the Pole which invalidates the structure. Regardless of who’s right or wrong, hope to meet in the near future and being multimillionaires. Keep up the fantastic work,” Egrag noted. Despite this technical caveat, EGRAG CRYPTO remains positive about the potential of a symmetrical triangle breakout. In a recent analysis of the weekly chart, EGRAG elaborated that XRP will at least explode towards $1.5 if price breaks out to the upside of the triangle. On a broader triangle pattern, EGRAG expects a move to $5.89. “XRP Army, STAY STEADY! There’s a mini pump to $1.5 and a major pump to $5.89 in the cards, with the MACRO pump potentially soaring above 2 digits,” he stated. Despite their different approaches, the two analysts are therefore very close in their analyses. At press time, XRP traded at $0.5189. Featured image created with DALL·E, chart from TradingView.com
Most of the newly launched tokens function as “exit liquidity” for insiders capitalizing on the lack of retail access, due to their high initial FDV.
A lawsuit filed on Thursday alleges Dolce & Gabbana USA messed up their delivery resulting in NFTs bought by a customer for $6,000 losing 97% of their value, Bloomberg reports.
The pilot will also allow e-CNY wallets to pay retailers, but not person-to-person transfers.
The latest price moves in bitcoin (BTC) and crypto markets in context for May 17, 2024. First Mover is CoinDesk’s daily newsletter that contextualizes the latest actions in the crypto markets.
Pro-XRP attorney and well-known cryptocurrency supporter John E. Deaton has disclosed the primary motivation for his Senate run in the United States, highlighting the critical need for improved protections for citizens and retail investors. Deaton, who rose to fame for his outspoken criticism of regulatory overreach and steadfast support of XRP, feels that the legislative […]
Working with Binance, Taiwan prosecutors pieced together the evidence, resulting in the indictment of nine individuals for financial crimes, including money laundering and fraud.
Pink Drainer, infamous for aiding in crypto thefts, decided to shut down operations after amassing over $85 million in stolen assets.
One trader said rising risk appetite for alternative assets could cause bitcoin to exceed the $70,000 level over the weekend.
While Hong Kong residents can sign up for a digital yuan (e-CNY) wallet with a phone number, the CBDC is currently restricted to cross-border transactions and cannot be used for person-to-person transfers within Hong Kong.
Quick Take Between Q4 2023 and 2024, a significant divergence emerged between the narratives of Bitcoin and the broader digital assets market. This divergence was evident in the performance of the ETH/BTC ratio and Bitcoin’s market dominance, which is currently flirting with 56%, approaching a one-year high. 2024 witnessed a remarkable surge in the adoption […]
The post CME futures dominance aligns with rising institutional investment in Bitcoin appeared first on CryptoSlate.
Ubisoft’s iconic franchise is returning just a year after its last installment—and this time, we’re going to Japan in Assassin's Creed Shadows.
Ether's sell-off has stalled at an upward-sloping trendline, characterizing the rally from October lows.
Dogecoin (DOGE), the meme-inspired cryptocurrency with a loyal following, has been riding a wave of optimism lately. Over the past week, its price surged by nearly 8%, much to the delight of investors. However, a recent move by a large DOGE holder has cast a shadow of uncertainty on the future of this playful pup’s price trajectory. Related Reading: Whale Watch: Ethereum Fresh Buy Signal Sparks Speculation Dogecoin Fueled By Market Bulls And Short Squeeze The broader crypto market sentiment has been bullish recently, and DOGE has been happily wagging its tail along. The past week saw a significant price increase, and the good times seemed to be rolling with a 3% jump in the last 24 hours alone. This pushed DOGE’s price to a cheerful $0.152, bringing smiles back to the faces of many investors who have been patiently waiting for a sustained climb. The party wasn’t just limited to the spot market. The derivatives market also saw a notable rise in activity, with Dogecoin Futures open interest jumping a healthy 9%. This suggests a renewed interest from traders, particularly those looking to capitalize on potential price movements through futures contracts. Adding fuel to the fire, short sellers have been feeling the heat lately. According to Coinglass, they’ve faced liquidations totaling a staggering $2.27 million. This could potentially trigger a short squeeze, a scenario where short sellers are forced to buy back DOGE to cover their positions, and further push the price upwards. However, this positive development hinges on whether it can overpower the potential selling pressure arising from a recent whale movement. Whale Alert: Big Transfer Sparks Speculation Just as things were looking bright for DOGE, a transaction involving a whale sent ripples of concern through the Dogecoin community. Data from Whale Alert revealed that a whopping 200 million DOGE, valued at around $30.86 million, was transferred to the trading platform Robinhood. This hefty move has raised eyebrows, with many suspecting the whale might be preparing to cash out a significant portion of their holdings. A large sell-off could introduce significant selling pressure, potentially derailing DOGE’s current upward momentum. Related Reading: Filecoin On Fire: Analyst Torches Doubters With $15 Target Technical Analysis: Breaking Trends And Potential Pullbacks Taking a peek under the hood from a technical standpoint, DOGE appears to be attempting to break its daily downtrend. This is a positive sign for bulls, indicating a potential shift in market sentiment. Further analysis reveals that DOGE recently entered an order block, which has been contributing to its ongoing price increase. Featured image from War History Online, chart from TradingView
French regulators are sending a strong message to the cryptocurrency industry: play by our rules, or get out. The latest target? Bybit, a major crypto exchange, which has been blocked by the French Financial Market Authority (AMF) for operating without proper authorization. Related Reading: NFT Market Crashes: 95% Of Assets Become Worthless This move follows […]
Pink Drainer, a notorious crypto wallet-draining service, is winding down its operations, according to a May 16 screenshot shared by blockchain sleuth ZachXBT. A Dune analytics dashboard by Web3 anti-scam firm Scam Sniffer showed that Pink Drainer, through its numerous fraudulent schemes, pilfered over $85 million from more than 21,000 victims in the last year […]
The post Infamous crypto scam service Pink Drainer shuts down after netting $85 million appeared first on CryptoSlate.
The cryptocurrency does not have major supply-side overhangs such as token unlocks or miner sell pressure, the report said.
The draft law aims to govern crypto asset service providers, crypto asset platform operations, crypto asset storage, and crypto asset buying, selling, and transfer transactions.
Binance and Taiwan's authorities dismantle a $6.2m laundering operation, highlighting the power of global law enforcement collaboration.
The post Binance partners with Taiwan authorities in $6.2M money laundering crackdown appeared first on Crypto Briefing.
Bitcoin ETFs see daily volumes of nearly $6 billion in a return to levels not seen since late March, with BTC price hitting new May highs.
Nuklai, an on-chain smart data platform, and peaq, a layer-1 blockchain for decentralized physical infrastructure networks (DePINs), have announced an integration aimed at enhancing AI and data monetization tools for DePINs, starting with the global Web3 marketplace for farmers, Farmsent. The news comes as peaq completed a token launch on Coinlist, raising $35 million from […]
The post Farmsent to enhance smart farming with Nuklai AI tools as peaq raises $35M amid token launch appeared first on CryptoSlate.
XLink faced a security breach involving almost $10 million, with $4.3 million recovered thanks to a friendly neighborhood whitehat hacker.