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 […]
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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 […]
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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.
In another remarkable day for cryptocurrency investments, US-based spot Bitcoin Exchange Traded Funds (ETFs) witnessed a substantial influx of capital, totaling $257.3 million on Thursday. This significant inflow marks the third consecutive day of large-scale investments into these funds, signaling a robust and returning interest among institutional and retail investors alike in Bitcoin. The Grayscale […]
Quick Take US ETFs According to data from Farside, US Bitcoin (BTC) exchange-traded funds (ETFs) saw a $257.3 million inflow, marking the fourth consecutive day of inflows. The inflows were widespread, with 8 out of the 11 U.S. ETFs reporting positive flows. BlackRock’s IBIT ETF saw the largest single-day inflow of $93.7 million, the biggest […]
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After a period of correction, Filecoin (FIL) is teasing a potential price surge, buoyed by bullish technical indicators and analyst predictions. As of Friday afternoon, FIL is hovering around $5.80, but whispers of a $15 target in the coming weeks are swirling in the cryptosphere. Related Reading: Solana On The Brink? Price Stalemate At Crucial $140 Support Recent Price Surge Ignites Investor Interest FIL has been on a tear lately, defying the overall slump in the cryptocurrency market. Over the past 24 hours, the token saw an increase of over 7%, accompanied by a healthy trading volume exceeding $420 million. This surge in price and activity has grabbed the attention of market watchers, with many speculating on the possibility of a sustained upward trend. Analyst Eyes $15: Falling Wedge Breakout Hints At Price Reversal Adding fuel to the fire is crypto analyst World Of Charts, who has expressed a decidedly bullish sentiment on FIL’s future. According to their analysis, the recent price correction appears to be nearing its end. $Fil Healthy Correction Has Almost Over Seems Like #Fil Will Recover From Here Falling Wedge Breakout Has Already Confirmed Expecting Move Towards 15$ In Coming Weeks#Crypto #Filcoin pic.twitter.com/O61j9B02ha — World Of Charts (@WorldOfCharts1) May 15, 2024 They point to a confirmed falling wedge breakout pattern, which historically indicates a potential trend reversal. This technical indicator suggests FIL could be poised for a significant rebound, with World Of Charts setting a target price of $15 in the coming weeks. FIL’s Resilience Bodes Well For Future Further bolstering the bullish case is FIL’s defiance of the broader downward trend in the crypto market. While many digital assets have been experiencing significant price drops, FIL has managed to hold its ground. This resilience suggests strong underlying support and potential for future growth. Filecoin: Technical Indicators Flash Green Technical analysis also paints a positive picture for FIL. The RSI (Relative Strength Index), a momentum indicator, is currently exhibiting a slow but steady upward trajectory. This suggests that FIL is not overbought and has room for further price appreciation. Additionally, FIL has historically displayed a pattern of high trading volume at price peaks and low volume during price dips. This ongoing trend signifies strength in the token’s price action. Related Reading: Whale Watch: Ethereum Fresh Buy Signal Sparks Speculation Breach Of Support Could Dampen Optimism However, the bullish outlook is not without its caveats. A breach below the crucial $5.50 support level could trigger negative sentiment and potentially lead to a price decline. This highlights the inherent volatility of the cryptocurrency market, where unforeseen events can quickly alter price movements. Furthermore, market sentiment is highly sensitive to external factors such as regulatory news, macroeconomic trends, and technological developments within the crypto space. Any adverse developments, such as stringent regulatory crackdowns or security breaches, could exacerbate selling pressure and undermine investor confidence. Featured image from Wallpapers.com, chart from TradingView
The post Dogwifhat (WIF) And BOOK OF MEME (BOME) Memecoins Plunge Despite Bullish Influence! What’s Next? appeared first on Coinpedia Fintech News
The crypto market continues to record increased price action, resulting in the top crypto tokens experiencing a significant rise in their respective portfolios. Furthermore, the market leader, BTC price, holds its price above the $66K mark, suggesting a positive outlook for these tokens in the coming time. However, the Solana-based memecoins display a bearish influence, …
The post Chainlink Defies the Odds – Why Is the LINK Price Up Today? appeared first on Coinpedia Fintech News
Chainlink (LINK), a leading oracle blockchain with multichain capabilities, has continued to attract significant attention from institutional investors and retail traders. With a fully diluted valuation of about $16 billion, the mid-cap altcoin pumped more than 15 percent in the last 24 hours to trade about $16.04 on Friday during the early London session. The …
The post Polygon at the Edge of a Consolidation: What if the MATIC Price Replicates the 2021 Bull Run Rally? appeared first on Coinpedia Fintech News
After the recent bullish spell, the markets have entered a consolidation phase. This flashes a bearish signal but from a wider perspective, the markets are preparing for the next bullish action. However, being distinct from the bewildered market sentiments, Polygon maintained more or less stagnant market behaviour. Although it traded within pre-defined resistance and support …
FTM has gained 13% in the last week, and total value locked in Fantom briefly hit $200 million.
Leading on-chain analyst James Check, popularly known as Checkmatey, has recently delved into the intricacies of Bitcoin’s market dynamics, offering a detailed on-chain data analysis that sheds light on the forces driving Bitcoin prices. His latest insights highlight a period he describes as “Quiet and Trending,” suggesting a robust underpinning despite significant sell-side pressures and shifts in volatility. Bitcoin Follows The Stair-Stepping Rally-Consolidation-Rally Pattern Since December, Bitcoin has experienced substantial sell-side pressure, with over 1.5 million BTC being sold. “Around 30% of this came out of GBTC, but the rest of it was good old fashioned profit taking,” Check explains. Despite such substantial market sales, Bitcoin has demonstrated resilience with a relatively modest price correction of just -20%. This suggests that the foundational support levels for Bitcoin are stronger than what surface-level market movements might imply. A striking aspect of Check’s analysis is the transformation in Bitcoin’s volatility profile. “The overall realized volatility profile for Bitcoin is half what it was in 2021, and 3x smaller than 2017,” states Check. This trend indicates a growing maturity within the Bitcoin market, reflecting its evolution into a more stable asset over time compared to its early years. Check counters the typical narrative surrounding Bitcoin’s volatility: “What a lot of people forget however is that Bitcoin is volatile to the upside. Volatility to the upside is good!” He posits that the current increment in volatility is moderate and suggests that the market is still in the early phases of a bull run, rather than nearing its end. Related Reading: Most Important Bitcoin Indicator Nears Bullish Flip: $150,000 Soon? A critical tool in Check’s analysis is the Short-Term Holder MVRV (STH-MVRV) Ratio, which he uses to gauge market sentiment and phases. According to Check, this ratio consistently finds support at 1.0 and resistance at 1.4 during stable uptrends. Stability is maintained as long as the ratio remains within these bounds. “Only when it breaks above this ceiling do things become unstable,” Check notes, which could signal a transition to bearish conditions. Despite the sell-off that brought Bitcoin down to $57k, Check observes that this has not significantly dented the profitability of short-term holders. “The magnitude of Unrealised Loss was very much in line with bull market corrections, calming fears of a top-heavy market.” Related Reading: Is Bitcoin’s Rally Over? Top Analysts Predict Imminent Price Corrections He further highlights that several of the local top buyers panic sold their Bitcoin at the lows, an action he interprets as beneficial for the correction phase, serving to stabilize the market by shaking out weak hands. Expanding his analysis, Check refutes the criticism that Bitcoin’s volatility makes it a less viable asset. He points to a chart comparison of Bitcoin’s 30-day volatility against top-performing US stocks, showing that Bitcoin’s volatility is well within a manageable range. Furthermore, he discusses the lower realized volatility of the SPY index, attributing it to the “out sized performance of the Magnificent-7,” which is counterbalanced by the poorer performance of the other components. By highlighting the structural aspects of the current “Quiet and Trending” market phase, Check offers a refined perspective on how Bitcoin is navigating its maturation pathway, balancing between its speculative origins and its potential as a mainstream financial asset. He concludes, “Overall, the Bitcoin uptrend in 2023-24 looks fairly structured, following stair-stepping rally-consolidation-rally pattern. However, as the charts above show, volatility tends to pick up during a consolidation, and that can lead to instability.” At press time, BTC traded at $66,288. Featured image created with DALL·E, chart from TradingView.com
Solana, the fastest blockchain, processed 91M transactions in a day, 46 times faster than Ethereum and 5 times faster than Polygon.
The post Solana leads as the fastest among large-scale blockchains — CoinGecko appeared first on Crypto Briefing.
The post Top Analysts Predict These 4 Altcoins Will Shatter All-Time Highs in 2024! appeared first on Coinpedia Fintech News
As the crypto market shows bullish trends this week, analysts are turning their focus to select altcoins poised to outperform Bitcoin in 2024. Renowned crypto analyst CryptoBulle highlights this as an optimal time to invest in certain altcoins that are at their low and are expected to reach new all-time highs (ATH) soon. Identifying Strong …
Another Bitcoin break above $70,000 will be a significant signal for traders but until it happens, analysis is “pretty futile,” according to Mati Greenspan.
Reddit said the deal allows OpenAI’s tools to “better understand and showcase Reddit content” and sees the AI firm back new features on the social platform.
In a potentially game-changing moment for the crypto sector, the US Senate has passed H.J. Res 109, a bill seeking to overturn the Securities and Exchange Commission’s (SEC) Staff Accounting Bulletin (SAB) No. 121 om Thursday, May 16. The bill was passed with substantial bipartisan support, receiving a 60-38 vote in the Senate and earlier […]
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On Thursday afternoon, Representative Thomas Massie, representing the 4th District of Kentucky, introduced H.R. 8421, the Federal Reserve Board Abolition Act, which aims to dismantle the Federal Reserve System. Massie blames the FED for the nation’s current inflation woes. If passed, can this proposal also significantly affect the current implications for the future of cryptocurrencies …
Dogecoin corrected gains and tested the $0.150 zone against the US Dollar. DOGE is now forming a base and might start a fresh increase above $0.1520. DOGE price jumped toward $0.160 before correcting gains. The price is trading above the $0.150 level and the 100-hourly simple moving average. There is a key bullish trend line forming with support at $0.1485 on the hourly chart of the DOGE/USD pair (data source from Kraken). The price must settle above $0.1540 to move into a positive zone and start a fresh surge. Dogecoin Price Holds Support After a steady increase, Dogecoin price faced resistance near the $0.160 zone. A high was formed at $0.1594 before DOGE started a downside correction like Bitcoin and Ethereum. There was a drop below the $0.1540 support zone. A low was formed at $0.1488 and DOGE is now consolidating for the next move. Dogecoin is still trading above the $0.150 level and the 100-hourly simple moving average. There is also a key bullish trend line forming with support at $0.1485 on the hourly chart of the DOGE/USD pair. On the upside, the price is facing resistance near the $0.1515 level. It is near the 23.6% Fib retracement level of the downward move from the $0.1594 swing high to the $0.1488 low. The next major resistance is near the $0.1540 level or the 50% Fib retracement level of the downward move from the $0.1594 swing high to the $0.1488 low. A close above the $0.1540 resistance might send the price toward the $0.160 resistance. Any more gains might send the price toward the $0.1650 level. The next major stop for the bulls might be $0.1720. More Losses In DOGE? If DOGE’s price fails to gain pace above the $0.1540 level, it could start another decline. Initial support on the downside is near the $0.150 level and the trend line. The next major support is near the $0.1445 level. If there is a downside break below the $0.1445 support, the price could decline further. In the stated case, the price might decline toward the $0.1350 level. Technical Indicators Hourly MACD – The MACD for DOGE/USD is now losing momentum in the bearish zone. Hourly RSI (Relative Strength Index) – The RSI for DOGE/USD is now above the 50 level. Major Support Levels – $0.1500, $0.1445 and $0.1350. Major Resistance Levels – $0.1515, $0.1540, and $0.1600.
The post Chainlink Breaks Out of Consolidation: Will the LINK Price Make It to $20 Following the Smart NAV Pilot Program? appeared first on Coinpedia Fintech News
Bullish sentiments have flown within the crypto space as the star crypto, Bitcoin, has displayed some strength. Altcoins have also remained elevated since the previous trading day, with memecoins leading the race and now popular tokens receiving some attention. After remaining in extreme bearish consolidation, Chainlink’s (LINK) price has triggered a bullish breakout, with a …
An analyst has explained how the data of an oscillator for Bitcoin could suggest the cryptocurrency still has plenty of room to run in this rally. Bitcoin VWAP Oscillator Could Imply Potential For Further Upside In a new post on X, analyst Willy Woo discussed what the latest trend in the Volume-Weighted Average Price (VWAP) Oscillator for BTC might suggest regarding what could be next for the cryptocurrency. The VWAP is an indicator that calculates the average price for any asset by taking into account the price fluctuations themselves and weighing the values against the trading volume. Related Reading: XRP & Cardano Whales Load Up Bags: Preparation For Altcoin Rally? This means that the prices of the assets where there was a higher volume of trading have a higher weightage in the average than those with only a low amount of volume. Traditionally, the VWAP is a technical analysis indicator that considers the information available through spot exchanges. In the context of the current topic, the VWAP uses the on-chain volume of Bitcoin instead, which is readily viewable by anyone thanks to the blockchain’s transparency. The indicator of interest here isn’t the VWAP but rather the VWAP Oscillator, as mentioned earlier. This metric keeps track of the ratio between the BTC spot price and the VWAP and presents it as an oscillator of around zero. The chart below shows the trend of this Bitcoin indicator over the past couple of years. The above graph shows that the Bitcoin VWAP Oscillator has been in negative territory for the past couple of months. However, the metric’s value has been rising recently, so if it continues on this trajectory, it might approach the neutral mark shortly. In the chart, Woo has highlighted a trend that the indicator and the cryptocurrency’s price have historically shown. It seems that whenever the metric has formed a bottom in negative territory and rebounded back to the upside, the asset has enjoyed some bullish momentum. The resulting price surge may last until the indicator reverses into the positive territory and forms a top. That hasn’t happened for the VWAP Oscillator this time yet. “Still a lot of room to run before reversal or consolidation,” says the analyst. “Hate to be a trapped Bitcoin bear right now.” Related Reading: Bitcoin Not Out Of Danger Yet, NVT Golden Cross Warns In other news, as CryptoQuant author Axel Adler Jr. pointed out in an X post, retail investors have bought $135.7 million worth of the asset over the past month. BTC Price At the time of writing, Bitcoin is floating around $65,000, up 5% over the last week. Featured image from Shutterstock.com, woocharts.com, chart from TradingView.com