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Showing posts from September, 2023

Bullish Momentum: LINK Token Poised for Potential 130% Surge?

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The LINK price has consistently demonstrated bullish patterns. In September, its value catapulted from a humble $5.8 to an impressive $7.9 peak. Consequently, crypto enthusiasts remain optimistic, further fueled by a notable prediction of a 130% price increase from a crypto expert. Babenski, a pseudonymous analyst on TradingView, shared insights on the potential $18 surge. He highlighted the $5.8 mid-September low, identifying it as a significant accumulation range. This trend wasn’t surprising, as extensive buying occurred when LINK dipped to $5.8. Hence, this accumulation phase established a solid support foundation, propelling the rally toward the $8 mark. However, despite witnessing a 35% surge from its September trough, Babenski anticipates more growth. A rally climax at $18 would indicate a potential 130% increase for LINK. Yet, a hurdle emerges – a retracement spotted slightly over the $8 mark. Significantly, LINK has recently experienced a similar pullback after ne...

Market Assessment 29th Sep: BTC, ETH, BNB, XRP, ADA, DOGE, SOL, TON, DOT, MATIC

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Crypto enthusiasts are trying to stage a comeback and closely monitor several alternative cryptocurrencies. Bitcoin (BTC) is making an effort to maintain its position above the $27,000 mark, a development that is viewed positively. Over the past few days, Bitcoin demonstrated resilience by holding its value above $26,000 despite challenging conditions. This was marked by a substantial rise in the United States dollar index (DXY) and a significant drop in the S&P 500 index (SPX). This resilience suggests a decrease in selling pressure at lower price levels. Even the decision by the United States Securities and Exchange Commission to postpone the approval of spot Bitcoin exchange-traded funds (ETFs) did not significantly impact prices, indicating that market participants are adopting a longer-term perspective on Bitcoin. According to James Seyffart, an ETF analyst at Bloomberg, the regulator’s decision to delay may have been influenced by the looming risk of a U...

Costo sells out of gold bars, but is it a better investment than Bitcoin?

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Gold bars recently sold out at Costco, reflecting investors’ souring mood about the economy. Is there a silver lining for Bitcoin? Costco has made headlines this week after it rapidly sold out of gold bars. In times of economic uncertainty and rising inflation, it's no surprise that investors are turning to traditional safe-haven assets like gold. The question is whether gold’s performance will eventually catapult its price above $2,050, a level last seen in early May. In the past 12 months, the price of gold has surged by an impressive 12%. This rally has been partially fueled by the Federal Reserve's efforts to combat inflation by maintaining higher interest rates, a move that benefits scarce assets like gold. While gold's performance is commendable, it's essential to put it into perspective. Gold (yellow) vs. Bitcoin (orange), S&P 500 (green) and WTI oil (black), last 12 months. Source: TradingView Over the same period, gold's returns have roughly matched th...

Crypto.com to become preferred exchange for PayPal USD

Crypto.com exchange is collaborating with PayPal and Paxos to further the development of PYUSD stablecoin. The exchange first listed PYUSD in August 2023, allowing users to acquire the stablecoin using various fiat currencies, including the USD. The new partnership aims to deepen this cooperation. The company announced that members plan to release more related products and provide new commercial opportunities. “PayPal has been a true pioneer in the evolution of digital commerce, and Paxos is a market-leading issuer of stablecoins. We are tremendously excited to collectively collaborate with them to advance the crypto frontier.” Joe Anzures, SVP and GM, Americas and Global Head of Payment Partnerships PayPal has collaborated with Paxos, a market-leading stablecoin issuer, to connect more than 80 million users to the latest crypto innovations and support PayPal’s global network of consumers and merchants. You might also like: US official calls ...

Positive Signs for Bitcoin Going Into Q4, 2023 Post ETF Delays

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Bitcoin exchange-traded funds [ETFs] have become a significant point of interest. This week itself, Bitcoin ETF s attracted more than 7 million engagements. Despite high expectations for these products, the Securities and Exchange Commission [SEC] took a cautious stance, announcing postponements for the Bitcoin ETF applications. JUST IN: 🇺🇸 SEC delays decision for BlackRock's Spot #Bitcoin ETF. — Watcher.Guru (@WatcherGuru) September 28, 2023 The regulatory body delayed BlackRock, Invesco, Bitwise, and Valkyrie’s Spot ETF applications, as indicated by documents published on its official website. Nevertheless, Bitcoin reached an impressive peak at $27,224 and has since maintained a similar level. The fourth quarter has been anticipated as a potentially favorable period for BTC. But the critical question remains whether Bitcoin can sustain its existing momentum. Also Read: ARK’s Bitcoin Spot ETF Delayed Again Until January 2024 Bitcoin...

Rep. Tom Emmer: SEC’s Gensler is a bank-loyal regulator rather than an unbiased one.

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During a hearing held on September 27th, Representative Tom Emmer hinted at a potential bias in Securities and Exchange Commission Chair Gary Gensler’s regulatory approach, owing to his extensive background in Wall Street. In a session convened by the House Financial Services Committee, United States Representative Tom Emmer voiced his reservations regarding Gary Gensler, the Chair of the Securities and Exchange Commission, on September 27th. Emmer asserted that Gensler’s allegiance to Wall Street appeared to come at the expense of fostering innovation, healthy competition, and the welfare of everyday Americans. Over the course of a four-minute inquiry, Emmer subtly alluded to Gensler’s financial background, which notably encompassed an 18-year tenure at Goldman Sachs, where he held the position of a partner and co-head of finance. Emmer’s viewpoint posited that Gensler’s deep ties to the financial sector might hinder his capacity to serve as an impartial r...

Tottenham Hotspur to issue a Web3 fan token using Chiliz Blockchain

Tottenham Hotspur embraces blockchain technology, partnering with Chiliz for a Web3 fan token. Fans can participate in on-chain voting and enjoy club-related rewards with the upcoming $SPURS fan token. Stricter regulations from the FCA in the UK prompt disclaimers on fan token offerings, ensuring compliance and transparency. Tottenham Hotspur has entered the world of blockchain technology by announcing its plan to issue a Web3 fan token, making it the first Premier League team to do so in two years. The London-based football club is set to collaborate with the Chiliz blockchain, offering its fans a unique and engaging experience. Chiliz Blockchain revolutionizing fan engagement Spurs’ decision to tap into blockchain technology is driven by a desire to enhance supporter engagement and provide rewards through a Web3 fan token. This innovative move will be facilitated by Socios.com, a fan engagement platform built on the Chiliz blockchain, which has alre...

TRON Rises To $0.86 As Further Price Increases Are Doubtful

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Sep 28, 2023 at 06:09 // Price Author Coin Idol Cryptocurrency analysts of Coinidol.com report, the price of TRON (TRX) has broken above the overriding resistance at $0.85, indicating an uptrend. TRON price long-term forecast: bullish The price of the cryptocurrency has reached a series of higher highs and higher lows. However, buyers have been working non-stop since June 3 to keep the upward momentum above the high of $0.085. On June 3 and July 22, the cryptocurrency dipped below the moving average lines, which set the bulls back twice. The altcoin is cu...

Report: hackers control over 90% of Mixin’s USDT holdings

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Elliptic, a blockchain forensic firm, has disclosed that cyber-criminals responsible for the Mixin Network hack currently control more than 90% of the project’s USDT holdings . In a blog post on Tuesday, Sep. 26, Elliptic’s senior crypto threat analyst, Arda Akartuna, revealed that the London-based firm analyzed the stolen funds in relation to Mixin’s most recent financial statement from July 2023. It appears that hackers now control 93% of Mixin’s USDT ($23.6 million), 71% of its Ethereum ($95.3 million in ETH), and 9% of its Bitcoin ($23.7 million in BTC). The graph of value of crypto stolen from Mixin | Source: Elliptic You might also like: Although the stolen funds are yet to laundered, Elliptic says the hackers have sent the stolen USDT through Uniswap to exchange it to DAI, an algorithmic stablecoin. In a post on Wednesday, Sep. 27, Mixin did not directly address Elliptic’s findings but provided reassurance to users, stating that...

Hong Kong police retrieve $11M in assets from JPEX investigation

The Secretary for Security of Hong Kong, Chris Tang Ping-keung, has pledged to address the JPEX crypto exchange fraud, which is being called the country’s most significant digital asset deception. The seriousness of the matter was brought to light in a press conference held on Sep. 27. According to local reports, authorities have already made significant headway. Twelve individuals have been apprehended, and asset s worth over 85 million HK$ ($10.8 million), comprising cash and other asset s like real estate and digital currency, have been seized. Hong Kong security chief vows to hunt down ringleader of crypto platform JPEX https://t.co/eBk2tonQTC — South China Morning Post (@SCMPNews) September 27, 2023 Of the arrested, three were associated with JPEX Technical Support Company, while two notable YouTubers, Chan Wing-yee and Chu Ka-fa, were also implicated. The scandal revolves around JPEX, a crypto exchange, which allegedly operated without authorization and deceiv...

Ethereum Creates 'Bullish' Divergence: 12% Rally to Follow?

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Ethereum has been trading below $1600. On the daily timeframe chart, the asset’s price recently created lower lows. At the same time, its RSI formed higher lows, resulting in a bullish divergence. Conventionally, this situation depicts that bears are losing power and bulls are gearing up to control the market again. More often than not, bullish divergences are followed by relief rallies. In the weekly timeframe, ETH continues to remain engulfed within its macro-rising wedge. Technically, this structure is bearish in nature. However, given the current sentiment flip in the short term, there are more odds of a bounce back from the lower trendline instead of registering a breakdown from that level. Consequentially, this has the potential to trigger a 12% uptick for ETH . ETH/USDT by TradingView Also Read: JPMorgan: Stablecoin Issuers Might Shatter Funding Market Ethereum’s Path Up is Filled with Obstacles: Investors, Beware! That being said, ETH might not register...

How one high-profile crypto exchange is planning to expand globally

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With a global expansion in its sights, a crypto exchange is boasting compelling features for newcomers and professionals alike. CoinW, a crypto exchange with more than 9 million users worldwide sets its sights on global expansion — all part of a quest to encourage the mass adoption of digital assets. When it comes to crypto, newcomers and seasoned traders alike have a checklist. One thing that unites novices and pros is low fees. Unreasonably high transaction costs can substantially dent profitability, especially when smaller trades are being made. Following the high-profile collapses of FTX and Celsius, users are looking for proof-of-reserves to give them confidence that their funds are safe. Those who are experiencing the space for the first time want an extensive cryptocurrency portfolio where they can buy and sell digital assets without limitations. In previous bull markets, the likes of Dogecoin (DOGE) and Shiba Inu (SHIB) have played an instrumental role in enticing people to ge...

DOGE at 7-Day Low: Will Bears Dominate or Bulls Make a Comeback?

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DOGE’s bearish trend faces resistance at $0.0612, prompting a dip to a 7-day low. Death cross signals on the DOGE market warrant caution for DOGEUSD investors. Negative CMF and Stochastic RSI hint at potential DOGE USD market decline. A bearish trend has been prevalent in the Dogecoin (DOGE) market for the previous 24 hours until support was found at the 7-day low of $0.06055. As a result, bullish momentum reclaimed control of the DOGE market, driving the price to a 24-hour high of $0.0612 before slumping into solid resistance. However, DOGE bulls had retreated at press time, resulting in a 0.02% drop to $0.06084. During the bull-bear attempts for supremacy, DOGE’s market capitalization and 24-hour trading volume fell by 0.01% and 26.19%, to $8,588,616,300 and $99,088,309, respectively. If the bears break through the 24-hour low of $0.06055, the next support level to look for is around $0.0602. Conversely, bulls may be able to break over the re...

MicroStrategy adds $147m worth of Bitcoin to balance sheet

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Michael Saylor, founder of MicroStrategy, announced that his company added 5,445 Bitcoin to its massive crypto holdings between Aug. 1 and Sept. 24. MicroStrategy spent $147.3 million on its latest BTC acquisition, according to a form 8-K filing with the U.S. Securities and Exchange Commission (SEC).  Following its BTC accumulation between August and September 2023, MicroStrategy now boasts $4.6 billion worth of crypto’s top token on its balance sheet .  MicroStrategy began purchasing BTC in 2020 as former chief executive officer Michael Saylor sought to reduce the company’s cash holdings and hedge against inflation. MicroStrategy has acquired an additional 5,445 BTC for ~$147.3 million at an average price of $27,053 per #bitcoin. As of 9/24/23 @MicroStrategy hodls 158,245 $BTC acquired for ~$4.68 billion at an average price of $29,582 per bitcoin. $MSTR https://t.co/GbJtUoQfXv — Michael Saylor️ (@saylor) September 25, 2023 Since then, Saylor’s company has bought 15...

Shibarium’s Growth Benefits BONE More Than Shiba Inu (SHIB)

Analyst explains that the decreased amount of Shibarium transactions should not have a negative effect on the price of SHIB. BONE is the only token that stands to gain from the growth of Shibarium. Both BONE and SHIB experienced losses of more than 10% over the past month of trading. Analyst Clay from Claybro shared in one of his latest YouTube videos that there has been a substantial decrease in the amount of Shibarium transactions. Luckily, Clay explained, this will not necessarily have a negative effect on the price of the popular meme coin Shiba Inu (SHIB). Shibarium does not contribute to the demand and utility of SHIB itself. Clay explained that it is important to note that SHIB is not required for utilizing Shibarium, instead, Bone ShibaSwap (BONE) is the cryptocurrency used for transactions on Shibarium. Consequently, Clay stated that Shibarium’s growth is mainly beneficial for BONE as it is the only token that stands to gain from it. Meanwhile, S...