Bybit to compensate users after Notcoin listing debacle, China gaming firm’s profits up 1100% after $200M crypto buy, and more: Asia Express.
On-chain data shows that XRP and Cardano whales have been accumulating recently, which can be bullish for the prices of these altcoins. XRP & Cardano Whales Have Gone On A Buying Spree Recently As analyst Ali explained in a new post on X, XRP whales have seen their holdings go up over the last couple of weeks. The indicator of relevance here is the “Supply Distribution” from the on-chain analytics firm Santiment, which tells us about the total amount of assets the different market groups hold. Related Reading: Bitcoin Not Out Of Danger Yet, NVT Golden Cross Warns The whale cohort is of interest in the current discussion. These investors hold between 1 million and 10 million XRP in their balance. At the current exchange rate, these amounts are worth around $0.52 million and $5.2 million, respectively. Clearly, these are pretty significant holdings, which is why whales are considered influential in the market. Now, here is a chart that shows how the Supply Distribution of the entities belonging to this XRP group has looked like recently: The graph shows that while the XRP price has been stuck in consolidation during the last couple of weeks, the whales have been viewing the opportunity as a buying one. These humongous investors have scooped up over 110 million cryptocurrency tokens (equivalent to almost $57 million) inside this window. This buying scale isn’t particularly massive, but the fact that these investors have been backing the coin through this poor period should be an optimistic sign. It would also appear that XRP isn’t the only one on the large holders’ radar recently. Market intelligence platform IntoTheBlock revealed in an X post that Cardano has also seen a significant buying push. In the above chart, IntoTheBlock displays the holdings of the Cardano investors, which are between 100 million and 1 billion ADA. This range’s bounds convert to about $45.3 million and $453 million, respectively, so these whales would be much more massive than the XRP ones just discussed. As is apparent from the graph, these ADA entities have expanded their holdings over the past month. More particularly, their supply has grown by 11% in this period, which, when considering the scale of the total holdings of this group, is an enormous increase. According to the analytics firm, these Cardano whales now control 6.71% of the entire circulating supply of the cryptocurrency all by themselves. Related Reading: Bitcoin Hash Ribbons Form Capitulation Signal: What It Means This latest buying push towards XRP and ADA from the whales simultaneously could be a potential sign that these large entities are expecting an altcoin rally soon. Given that Cardano has seen it happen at a much more significant scale, the coin could likely see better returns than XRP if a surge does happen. XRP Price XRP has displayed stale price action recently, as its price has continued to move sideways around the $0.52 level. Featured image from Kanchanara on Unsplash.com, IntoTheBlock.com, chart from TradingView.com
In a recent filing with the US Securities and Exchange Commission (SEC), Morgan Stanley, the American multinational investment bank and financial services company, disclosed its substantial investments in the newly approved Bitcoin ETF market. The bank’s filing revealed holdings in two prominent Bitcoin exchange-traded funds: Grayscale Bitcoin Trust (GBTC) and Ark Invest’s ETF. Morgan Stanley’s […]
The global music industry giant represents top artists that have already seen AI-generated knockoffs, from Michael Jackson to Celine Dion.
Jaffe Tilchin Investment Partners was one of several firms that disclosed investments in spot Bitcoin ETFs on May 16. The Florida-based investment manager and insurance services advisor revealed it invested $11.3 million in spot Bitcoin ETFs during the first quarter — comprising $9.8 million in BlackRock’s IBIT and $1.6 million in Grayscale’s GBTC. Separately, Nebraska-based […]
The post Jaffe Tilchin and 4 other firms disclose spot Bitcoin ETF investments during Q1 appeared first on CryptoSlate.
Dogecoin is once again seeing an upside following the Bitcoin recovery above $66,000, which, in turn, triggered a broader crypto market recovery. Crypto analyst Crypto Scient expects this bullishness to continue going forward and eventually lead to the start of another meme coin mania. Dogecoin Set To Kickstart Meme Coin Mania Presently, the Dogecoin price […]
BNB, the native cryptocurrency of the BSC network, has undoubtedly been one of the winning altcoins scene the bull market began. The price has been able to go from around $200 to over $600 in the space of a year, notching over 200% gains in the process. However, it seems that this outperformance by the altcoin is coming to an end, as an analyst predicts that it is about to hit massive resistance that could stop its growth dead in its path. BNB Headed For Mounting Resistance In an analysis that was shared on the TradingView website, crypto analyst Trade City Pro revealed that the BNB token might have to fighting massive resistance soon. The analyst points out that this is a culmination of the bullish rally that the altcoin has seen in the last year, and now bears are maki g their stand. Related Reading: Bitcoin Analyst Reveals Why $57,938 Is The Level To Watch This Week The analyst points to Bitcoin’s performance during this time as something that could help to pinpoint where the BNB price is headed next. As they explain, BNB risks falling into correction and consolidation after that, making its current level a perilous one for investors. Mainly, the crypto analyst credits the altcoin’s performance from here on what Bitcoin does next. BNB, which is currently the 4th-largest cryptocurrency by market cap, mirrors Bitcoin’s movements to a larger extent compared to smaller altcoins. So, Trade City Pro’s analysis with respect to Bitcoin is not far off. For confirmation of whether the BNB token continues to be something to sell or hold, the analyst places the ultimate decision around the $48,000 level for Bitcoin. They explain that a dump below $48,000 would be a sell signal. However, if the Bitcoin price were to maintain strength above $48,000, then they would continue to hold the altcoin. What Happens In The Event Of A Price Crash? Should the BNB price crash from here, the crypto analyst has prepared an action plan that could help investors take advantage of it. For example, a Bitcoin crash below $48,000 could send the BNB price below $400, and at this level, the analyst believes buying would be a good move. This is what the analyst refers to as the “Potential Re-Entry” point. Then, for “Entering After Resistance,” the analyst advises investors to buy the altcoin if the price is able to reclaim $616 and stay above it. This level is important because the $616-$660 range is identified in the analysis as a significant resistance zone, and so beating it is important for the BNB price to continue its rally. Related Reading: How High Can The XRP Price Go? Crypto Analyst Unveils 6-Month Prediction Additionally, Trade City Pro adds that the Fibonacci Retracement Levels might offer a level for re-entry into the altcoin. “In case of a correction, the key Fibonacci levels from the last upward wave at 0.5 and 0.618 (between $394 to $430) might offer good entry points. Wait for a reaction or momentum change at these levels before entering,” they stated. Lastly, the analyst points out that BNB has not really followed the broader market in recent times, which could mean something is coming. “It’s intriguing that BNB seems relatively unaffected by broader market conditions, suggesting Binance might be positioning for something unique,” Trade City Pro said in closing. Chart from Tradingview.com
Pleterski and an associate were arrested months after multiple investor complaints and months of police investigation.
Solana-based DeFi memecoin platform Pump.fun experienced a significant breach on May 16 when an exploiter apparently utilized flash loans to manipulate the platform’s bonding curve contracts. The platform has since paused all trading activities. In a statement on social media, Pump.fun acknowledged the exploit and assured users that the platform is investigating the issue. The […]
The post Pump.fun halts trading after suffering flash loan exploit appeared first on CryptoSlate.
Bitcoin price showed strength near its medium-term range high but multiple factors are preventing derivatives traders from opening new positions.
Funding for crypto startups rose to over $1 billion in April, with investors focusing on tokenization, Web3 infrastructure, and institutional demand amid the bull market.
As of May, AntPool and Foundry USA controlled more than 50% of Bitcoin's hash rate. That could become a problem for Bitcoin users in the near future.
The DEFINITY Foundation, the company behind developing the Internet Computer protocol, has recently unveiled an updated roadmap to facilitate increased artificial intelligence (AI) blockchain adoption. As the native token of the network, ICP continues to lead among AI tokens and holds the 22nd position in the top 100 cryptocurrencies. However, recent price drops have prompted the Foundation to focus on key areas of development to revitalize the token’s price action and further advance the protocol’s capabilities. Internet Computer Roadmap The highlighted aspects of the roadmap outline two critical steps called “milestones” in the Internet Compute platform domain: Tokamak and Stellarator. Tokamak focuses on reducing latency by maximizing the block rate of each subnet and introducing a new synchronous ingress submission endpoint. Related Reading: Shiba Inu Price Makes Decisive Move: Is Now The Ideal Time To Buy? Stellarator, on the other hand, will reportedly increase the storage layer, enabling subnet blockchains to host over 1TB of canister smart contract storage while improving the efficiency of the consensus layer. The DEFINITY Foundation aims to integrate AI capabilities as smart contracts on the Internet Computer protocol to address the resource-intensive nature of AI training and inference. The Cyclotron milestone outlined in the roadmap will increase on-chain inference for larger AI models through performance improvements in the WebAssembly runtime and inference engine. The Gyrotron milestone, on the other hand, explores the integration of AI-specialized subnets with GPU support, enabling compute—and memory-intensive computations on-chain. ICP’s Interoperability With Bitcoin, Ethereum, And Solana ICP’s Chain Fusion technology will allow direct interoperability with major blockchains, including Bitcoin, Ethereum, and other Ethereum Virtual Machines (EVMs). Nonetheless, the roadmap introduces several milestones to expand interoperability. Tritium milestone enables ICP to interact with Ethereum and EVM smart contracts, facilitating cross-chain communication. Deuterium milestone extends Chain Fusion support to emerging Bitcoin protocols. Interestingly, the Helium milestone aims to increase Chain Fusion for the Solana network, enabling decentralized applications (dApps) leveraging the capabilities of both networks. Related Reading: Whale Watch: Ethereum Fresh Buy Signal Sparks Speculation Next, the Solenoid milestone decentralizes the operation of the ICP boundary nodes, “empowering” the network’s participants. The Levitron milestone provides visibility into the Internet Computer’s edge infrastructure, allowing developers to gain insights into dApp usage patterns and generate user statistics. Lastly, ICP will incorporate two governance systems: the NNS (Internet Computer’s DAO) and the SNS framework governing individual dApps. Tokenomics incentivizes voting participation and aligns DAO decisions with long-term interests. These governance mechanisms will allegedly ensure decentralized decision-making and community involvement. As of the current press time, the price of ICP has experienced a significant increase of 120% year-to-date. However, it is currently trading at $12.05, 98% lower than its previous all-time high (ATH) of $700 achieved in September 2023. Once implemented, the impact of the roadmap on the cryptocurrency’s price and its potential to regain bullish momentum and drive adoption for various use cases remain to be seen. Featured image from Shutterstock, chart from TradingView.com
Aiden Pleterski, known in the crypto community as the “Crypto King,” and his associate Colin Murphy have been formally charged with serious financial offenses. These charges emerged from an extensive joint investigation, Project Swan, conducted by the Durham Regional Police Service (DRPS) and the Ontario Securities Commission (OSC). The investigation focused on allegations of fraud […]
Bitwise CIO Matt Hougan says this week's 13F filings prove that the spot Bitcoin ETFs were a “huge success.”
President Biden's emergency order to halt the Chinese-tied mining on the doorstep of a nuclear-missile base hit days after mining giant CleanSpark struck a deal to buy the property.
The crypto market is 5.1% up today, with a total market capitalization of $2.3 trillion. The recent pump has propelled different sectors, with memecoins being 9% up and Artificial Intelligence (AI) tokens increasing 11.2% in the last 24 hours. Related Reading: Crypto Analyst Shares Top AI Altcoin Investments This Month Fetch.AI (FET) is at the forefront of the AI sector with its remarkable 14.5% increase in the past day. Some analysts foresee a bullish breakout for the token soon. Are AI Tokens Taking The Lead? As reported by NewsBTC, many market experts consider Artificial intelligence tokens a contender for the cycle’s biggest narrative in round 2. Alex Wacy said the artificial intelligence industry is “on the brink of a multi-trillion-dollar boom” due to the increasing interest over the last year. As a result, the analyst considers the sector could create a market valued in the trillions, reaching $2 trillion by 2030. This week, AI tokens have performed strongly. Altcoin Sherpa pointed out that the sector is “looking decent overall,” with tokens like Arweave (AR), Ocean Protocol (OCEAN), and Fetch.ai performing the best. Renowned traded Daan Crypto considers the AI sector to be “bouncing the strongest” on this new market move, while memecoins seem to be the “weakest.” The trader shared his thoughts on Fetch.AI’s recent performance. Daan highlighted the token’s attempt to break above the diagonal trendline. Per the chart, FET is testing the diagonal resistance, with the $2.35 mark being the first resistance level to reclaim. A breakout above this level could be a “good start to a further trend change.” Moreover, the token broke “above the 4H 200MA/EMA already.” Per the trader, FET would need to test the $2.5 mark and remain above the $2.35 price range to “break the trend and head higher over the next couple of weeks.” Similarly, crypto trader Scient considers the token consolidating inside a one-day ascending bullish triangle. His chart highlights the $2.12 mark as support for the diagonal trendline. He forecasted a deviation below the trendline “towards 1D 100EMA” before reclaiming the $2.12 price range and moving back inside the triangle. If a retest and confirmation of the trendline reclaim occurred, the trader suggested he “would long it.” Analysts Forecast $4 For FET Crypto analyst World of Charts identified a “textbook” bullish pennant pattern on FET’s chart. The analyst expects an upside breakout soon, potentially leading to a 2x bullish wave. If the breakout is successful, the token’s price could move above the $4 price range. $Fet Formed Text Book Bullish Pennant Expecting Upside Breakout Soon Expecting 2x Bullish Wave Incase Of Successful Breakout #Crypto #Fet #Fetchai pic.twitter.com/Y3c0pqNFgN — World Of Charts (@WorldOfCharts1) May 15, 2024 Moreover, CryptoBoss seems to concur with this forecast. The trader shared a similar chart, signaling a possible breakout that could drive the token to double its price. In the post, he stated, “$FET 4$ exe loading…” Related Reading: By The Numbers: Over 1 Million New Crypto Tokens Launched Since April In the past 24 hours, the token has surged an impressive 14.5%, going from $2.04 to hover between the $2.3-$2.32 price range. This increase represents 7.5% and 13.2% in the weekly and monthly timeframes. Similarly, FET has seen a rise in market activity. Its daily trading volume increased by 102%, with $354.2 million traded on the last day. Featured Image from Pexels.com, Chart from TradingView.com
Ethereum is a legacy network, but it has been rapidly evolving. It has adapted to environmental needs, for example, while looking for ways to scale. Several hard choices have been made, including shifting from a proof-of-work to a proof-of-stake system. However, Péter Szilágyi, a developer and team lead at Ethereum, is concerned about how “malleable” Ethereum is […]
The Autorité des Marchés Financiers reported Bybit has been blacklisted since May 2022 “for non-compliance with current French regulations.”
According to the scientists, the 22-mile distance between nodes is the longest quantum fiber network to date.
It is getting harder to buy XMR, but every day that monero continues to exist is proof positive of its value, says CoinDesk's Dan Kuhn.
The US Senate voted in favor of repealing the SEC’s Staff Bulletin 121 (SAB 121) on May 16. In all, 60 Senators voted in favor of HJ Res. 109, a resolution to overturn the bulletin, while 38 Senators voted against it. The results show bipartisan support for reversing the SEC rule. Of the 60 Senators […]
The post US lawmakers vote in favor of repealing controversial SEC accounting rules for crypto appeared first on CryptoSlate.
Dogecoin seems to have flipped into a bullish momentum, at least in the short term, prompting analysts to predict bullish outlooks in the short term. Particularly, DOGE is up by 7% in the past 24 hours and is still on a 14% increase in the past 3 days. Current price action shows the cryptocurrency is […]
A crypto analyst identified as ‘Egrag Crypto’ has recently taken to X (formerly Twitter) to issue a warning to XRP investors regarding a potential bear market that could trigger a massive correction for the price of XRP. XRP Holders Prepare For More Declines In 2025 According to Egrag Crypto, XRP is expected to enter a steep bear market stage in 2025. The analyst based his predictions on a technical analysis tool he called the “Gaussian Channel,” revealing three distinct technical phases for XRP, including a Green A, Green B and Green C phase. Related Reading: Ethereum Bull Flag Breakout: ATH On The Horizon As Major Metrics Turn Bullish He noted that the bearish phase in Green A had already been completed. However, the Green B phase is expected to end by June 2025, and Green C is anticipated to conclude by January 2025. The analyst further emphasized that the aforementioned dates do not represent cycle tops but indicate the beginning of a “deep bear market phase.” He also revealed that the Gaussian Channel was a technical analysis tool used to visualize price movements of cryptocurrencies around a mean average price. The purpose of the tool is to help identify volatility, risks, and certain support and resistance levels. Additionally, analyzing the historical trends and durations of the green phases provided by the Gaussian Channel provides valuable insights that can be used to interpret future price movements. Presently, the price of XRP has remained relatively unchanged for the past few months, primarily consolidating around the $0.5 mark without witnessing any significant momentum. This lackluster performance can be attributed to the ongoing legal challenges the cryptocurrency has faced with the United States Securities and Exchange Commission (SEC) over the past four years. While Egrag crypto anticipates more bearish sentiment for XRP in the coming year, the crypto analyst also suggests that the next 3 to 12 months could present critical trading opportunities as the market evolves. He cautions XRP holders to remain vigilant and prepared for potential market volatility, which could lead to a “life-changing window.” Analyst Highlights XRP’s Resilience In a previous X post, Egrag Crypto maintained an optimistic outlook for the price of XRP. He emphasized the cryptocurrency’s strength and resilience, noting that XRP was indicating strong bullish signals in its price fundamentals. Related Reading: Bitcoin Analyst Reveals Why $57,938 Is The Level To Watch This Week He revealed that if XRP can maintain a critical position within the “Launching Channel,” a trading pattern identified by partial wicking candles and ascending consolidation, the cryptocurrency could see its value potentially surging to $6.4. Related Reading: Bitcoin Long-Term Holders Buy The Blood, Snatch Up 70,000 BTC At the time of writing, the price of XRP is trading at $0.51, reflecting an increase of 3.51%, over the past 24 hours, according to CoinMarketCap. Egrag Crypto has advised the broader XRP community to remain “calm and steady,” as the next three to six months could present significant opportunities for investors. Chart from Tradingview.com
Trabucco said Salame was his “best friend” and deserves a “fair” punishment. Salame's lawyers are seeking no more than 18 months imprisonment.
937 firms have invested in US Bitcoin ETFs, marking a shift in professional asset allocation towards digital assets.
The post Bitcoin ETFs attract 937 professional firms in Q1: K33 Research appeared first on Crypto Briefing.
France’s Autorité des Marchés Financiers (AMF) has warned French crypto investors that Bybit is not a registered platform in the country, according to a May 16 notice. The financial regulator stated: “The Autorité des Marchés Financiers (AMF) is calling on retail investors to exercise the utmost vigilance with regard proposal investments made to the public residing […]
The post Bybit faces potential legal action in France for regulatory non-compliance appeared first on CryptoSlate.
The post Injective Price Prediction 2024 – 2030: Will INJ Price Reclaim $50 This Year? appeared first on Coinpedia Fintech News
Story Highlights The live price of the Injective token is Injective (INJ) price could hit a high of $57.66 by the end of the year 2024. With a potential surge, the INJ’s price may record a high of $181.18 during the year 2030. Launched in November 2021, alongside a $120 Million incentive program called Astro. …
People tribally follow both Warren Buffet and Roaring Kitty, Stratos founder Rennick Palley says—even though they’re polar opposites.
The post Bitcoin Aims for a Surge Above Traders’ Realized Price of $66K: Traders to Face Potential Loss on Sales appeared first on Coinpedia Fintech News
Bitcoin’s price is currently hovering around a critical level of $66,000, aiming to validate a clear trend. This threshold is important as it represents the realized price, or the average purchase cost, for many traders. Analysts view that traders won’t likely sell around $66K as selling below this level will trigger losses. As a result, …