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Showing posts from November, 2023

Dormant Bitcoin Whale's Resurgence: Nets $112 Million Profit

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An aged Bitcoin whale, dormant for approximately four years, has resurfaced, executing a notable maneuver that has seized the attention of the crypto community. Lookonchain, a platform for crypto analytics, has reported a substantial transfer of 3,623 BTC, valued at an impressive $136.94 million, to two recently established wallets. Accumulation Strategy and Remarkable Profits This financial giant discreetly gathered its crypto currency holdings at an average cost of $6,889 per BTC between Oct. 25, 2018, and Dec. 31, 2019. During that period, the total investment amounted to a modest $24.96 million. Fast forward to current market prices, and the whale is now enjoying a staggering profit of approximately $112 million. The strategic timing of this move aligns with Bitcoin attaining its highest value since May 2022. It surged to an impressive $38,500 per BTC. A whale that had been dormant for ~4 years transferred all 3,623 $BTC($136.94M) to 2 new wallets 1 hour ago. This whale acc...

Crypto market in limbo as technicals hint Bulls vs. Bears fight ahead

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The general cryptocurrency market has been on a bullish momentum in recent weeks, led by Bitcoin (BTC), with anticipation that the positive gains will likely continue, backed by factors such as favorable regulations.  Amid the anticipation, crypto analyst AlanSantana in a TradingView post on November 29, suggested that the market appears to be hanging in the balance as technical indicators suggest a potential showdown between bullish and bearish forces. Despite a generally positive technical picture marked by rising prices, new highs, and trading above moving averages, the analyst emphasized the need to remain vigilant, noting that the market, known for its volatility, has shown a history of swift reversals.  Bitcoin price analysis chart. Source: TradingView “While the chart technical s are definitely bullish, things can always change. Change comes after a prolonged period of seeing the same. Change is always present and at work, it can be happening behind the s...

Cardano's Price Remains Stable, With Resistance At $0.39

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Nov 30, 2023 at 06:32 // Price Author Coin Idol The price of Cardano (ADA) has been moving sideways since its high of $0.39. Cardano price long term forecast: in the  range Cardano price is fluctuating below the resistance level of $0.39 while remaining above the moving average lines. The sellers tried to break below the 21-day SMA several times, but the bulls bought the dips. On November 27, the bears retested the 21-day SMA, but the bulls bought the dips. ADA price is rising to retest or break through the resistance level. At the time of writing, ADA/US...

Research the dynamics of market manipulation before you jump in Bitcoin ETFs

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Bitcoin ETFs could be subject to manipulation in the spot Bitcoin market. The SEC's chief concern is figuring out how to prevent manipulation induced by ETFs. Investors are eagerly anticipating the potential approval of a spot bitcoin exchange-traded fund (ETF) by the United States Securities and Exchange Commission (SEC). The excitement began in early June when the investment giant BlackRock submitted a filing for the product and gained further momentum after a court decision mandated the SEC reconsider its rejection of Grayscale's proposal to transform its Bitcoin Trust (GBTC) into a spot ETF. The SEC’s objection to ETFs is related to the fact that Bitcoin (BTC) is traded in unregulated venues around the world, which poses a challenge in preventing fraud and price manipulation. One attempt to address the issue has included surveillance-sharing agreements (SSA) with some cryptocurrency exchanges. In theory, this would allow the identification of bad actors who attempt to mani...

Cristiano Ronaldo’s Partnership with Binance Results in a Lawsuit

Footballer Cristiano Ronaldo has been sued by three investors for promoting Binance’s unregistered sale of securities. The investors allege that Ronaldo has been responsible for their losses as his promotions prompted them to invest in Binance. The complaint claims that Ronaldo should have known about Binance’s sale of unregistered securities. Portuguese footballer Cristiano Ronaldo has been sued for actively promoting and participating in the sale of the deemed unregistered securities of Binance. In a $1 billion proposed class action lawsuit filed on November 27, three investors, claiming to have suffered losses from Binance, accused Ronaldo of being partially responsible for their losses. Reportedly, Ronaldo entered into a strategic partnership with Binance last year, promoting Binance’s NFT collections. The lawsuit alleged that Ronaldo’s fame and influence had driven Binance to reach remarkable heights, prompting his 850 million+ followers to invest in th...

Forbes publishes ‘Under 30 Wall of Shame’ with Sam Bankman-Fried, Carolyn Ellison and Martin Shkreli on list

Trolling itself, Forbes has released a list of the most shameful 30 Under 30 laureates, who once included “Pharma Bro” Martin Shkreli and disgraced crypto moguls Sam Bankman-Fried and Caroline Ellison. The influential 30 Under 30 list published annually by Forbes has taken a hilarious, yet self-loathing turn this year. The industry media published on Nov. 29 what it is calling its Under 30 Wall of Shame, which includes past names who have since fallen from grace due to various legal or ethical scandals, illustrating a stark contrast between early promise and subsequent downfall. “Below are 10, out of 10,000, that we’d like to walk back. We’ll add more here as the years go on––the 30 Under 30 list is, by definition, future-facing, and not even Warren Buffett can predict with 100 percent accuracy. But we’d guess he’d be good with 99.9%.” Forbes Topping the list of the most dubious individuals is Sam Bankman-Fried, founder of the FTX cryptocurrency exchange, who made the list alongs...

Decentralized Bitcoin mining pool OCEAN raises $6.2m in seed round led by Jack Dorsey

Crypto mining startup OCEAN raised over $6 million from Jack Dorsey and other backers to enhance decentralization of the Bitcoin ecosystem. Decentralized Bitcoin (BTC) mining pool OCEAN, a subsidiary of Mummolin Inc., has raised $6.2 million in a seed funding round led by Jack Dorsey. According to a press release on Nov. 28, 2023 the round was also led by other investors such as Accomplice, Barefoot Bitcoin Fund, MoonKite, NewLayer Capital and the Bitcoin Opportunity Fund. As per Mummolin Co-Founder Luke Dashjr, Ocean represents a new type of pool that enables miners “to be truly miners again.” “We are launching as the most transparent pool and also the only non-custodial pool where miners are the recipients of new block rewards directly from Bitcoin.” Luke Dashjr You might also like: Canaan’s Q3 Bitcoin mining revenue declines by nearly 80% According to Jack Dorsey, the startup is aimed at solving a problem of Bitcoin mining pools’ centr...

Ripple XRP: ChatGPT Predicts 400% Rally to $3, Here's When

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XRP, the token utilized by the fintech company Ripple , has faced a 0.8% correction in the last 24 hours. The token is also down by 1.1% over the previous week. Nonetheless, XRP is still up by over 76% since the beginning of the year. XRP began to surge after a US court ruled that Ripple selling the token to retail investors did not fall under securities law. The “non-security” status makes XRP an attractive asset for many investors. Source: CoinGecko Also Read: Ripple XRP to Rally 200% and Hit $1.88: Predicts Analyst According to OpenAI’s AI (Artificial Intelligence) chatbot ChatGPT, XRP could end 2023 with a price of $3. The increase translates to a growth of about 400% from current levels. The chatbot cites Ripple ’s recent partial victory in its battle with the SEC (Securities and Exchange Commission) and the possibility of a bull run in 2024. Many analysts expect the crypto market to rally in 2024 due to the high probability of a spot Bitcoin (BTC) ETF...

EU legislators advocate for metaverse strategy that bolsters region businesses

The European Union is advancing a strategy to lead in developing virtual worlds, aiming to strengthen EU businesses and lessen reliance on non-EU technological resources. European Union (EU) lawmakers are advocating for the EU to pioneer the development of virtual worlds, aiming to bolster EU businesses and reduce technological dependency on non-EU countries. This initiative, stemming from a vote by the European Parliament’s Committee on internal market and consumer protection, underlines a strategic shift towards embracing the metaverse as a significant component of Europe’s digital future. EU Rapporteur Pablo Arias Echeverría’s statement encapsulates the urgency and ambition of this strategy. He underscores the necessity for Europe to not only participate in but lead the next digital revolution. Echeverría’s emphasis on avoiding past errors and establishing a foundation based on EU digital rules, principles and values, places a clear focus on a Europe-cen...

Solana (SOL) and Cardano (ADA) Face Uncertainty as Prices Retrace

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Despite a recent drop, Solana’s price stabilizes around $55. Cardano sees community support despite a 3.52% price decrease. Increased trading volumes for SOL and ADA indicate ongoing market interest. Solana (SOL) has been downward for the last 24 hours after failing to break through the 24-hour high of $59.65. As a result, bears have grabbed control of the market, driving SOL’s price to an intraday low of $53.33 before regaining support and stabilizing around the $55 level at press time. The price drop has prompted some profit-taking among short-term traders, while long-term investors remain bullish about Solana’s prospects. The consolidation period may create a buying opportunity for investors wishing to join or increase their SOL investments. If the bears break through the $53.33 support level, the next support level to monitor is around $50. However, if the bulls push the price over $55, it might signal a rising trend and draw additional i...

Solana-Based Meme Coin Bonk (BONK) Now Available for Trading at KuCoin

Bonk announced its official listing on the KuCoin exchange. BONK prices jumped as news of the listing circulated. Bonk enthusiasts are bullish on a new all-time high for the meme coin. Bonk (BONK), the first dog-themed coin on the Solana network, has proudly announced its official listing on KuCoin, the sixth largest crypto exchange, as per CoinMarketCap. The meme coin’s trading pair, BONK/USDT, is open for deposits via the SOL network, with its live trading in full swing as of press time. KuCoin will also officially enable BONK withdrawals at 10:00 on November 29, 2023 (UTC). Right after KuCoin announced the news on its official X page, meme coin BONK jumped to the $0.00000396 price point. The increase is 4% higher than BONK’s $0.00000380 market opening value. New Listing@bonk_inu $BONK Gets Listed on #KuCoin! Pair: BONK/USDT Deposit: now open (network: SOL) Trading: 10:00 on November 28, 2023 (UTC) — KuCoin (@kucoincom) November 28, 2023 ...

Get prepared to the next bull run: Investor Demo Day to showcase the best of Web3

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Cointelegraph Accelerator to hold the next Investor Demo Day on Nov. 30 in collaboration with Cipholio, Bitmart, Leadblock Partners and MetaEra. The Web3 ecosystem might have weathered a dry year during 2023 in terms of venture capital (VC) funding, but it surely had its highlights with many bountiful investments across a wide range of niches. The most recent data indicates that Web3 startups have raised around $6 billion so far in 2023 — a sharp decline from over $25 billion in funding the ecosystem enjoyed in 2022. While the impact of the “crypto winter” was felt over the last few quarters, 2023 brought some of the most successful funding rounds in the Web3 space. The Web3 industry started the year with a bang, witnessing a flurry of significant funding rounds. Blockstream, a digital asset company, set the tone with a mammoth $125 million round, followed by Chain Reaction, a blockchain chip startup, which secured $70 million. LayerZero, a cross-chain messaging protocol, added to the...

Digital asset investment weekly inflow hits $346m, highest in 18 months

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Recent weeks have seen a massive surge in digital asset investments, with inflows totaling $346 million, led by Bitcoin and Ethereum. Investments in digital asset products have surged recently, marking a significant trend in the crypto market. Last week, these products experienced an influx of $346 million in capital, setting a record for the largest weekly investment during a continuous nine-week period of positive flows. According to CoinShares report, Bitcoin alone attracted $312 million in new investment s last week, with Bitcoin’s year-to-date inflow s exceeding $1.5 billion. Enhanced activity in exchange-traded products (ETPs) related to Bitcoin has been observed, with these products accounting for 18% of all Bitcoin spot trading volumes last week. ETF Anticipation Fuelling the Largest Surge in Inflows Since Late 2021https://t.co/kadC8aRml5 — James Butterfill (@jbutterfill) November 27, 2023 You might also like: Vitalik Buterin unveils major overhaul of E...

BTS, PERL, and TORN Crash After Binance Delisting Announcement

Binance announced it would delist BTS, PERL, TORN, and WTC on December 7. Binance regularly delists tokens that no longer meet required standards or are affected by industry changes. The trading pairs to be delisted include BTS/USDT, PERL/USDT, TORN/BUSD, WTC/BTC, and WTC/USDT. Binance, the largest cryptocurrency exchange by trading volume, announced it would delist four digital assets, BTS, PERL, TORN, and WTC, from its platform on Thursday, December 7, 2023. In a blog post, the top crypto exchange noted that the delisting exercise is part of its regular review process to check that tokens listed on the platform continue to meet required standards. According to Binance, when a coin or token no longer meets the required standard or the industry changes, it conducts an in-depth review which may result in delisting to protect users. Binance said that it considers several factors to determine if the listed digital assets would remain listed or be removed from it...

BNB and Cardano supporters focusing on emerging altcoin

BNB and Cardano’s supporters are considering NuggetRush. This new coin combines features of memes and P2E. Analysts bullish on its potential Investors are showing interest in NuggetRush (NUGX), a new crypto project, along with established altcoins Binance Coin (BNB) and Cardano (ADA).  This article will explore the reasons for the rising demand for NuggetRush and provide information on the Features behind BNB and Cardano.  NuggetRush attracting investors NuggetRush is drawing attention from the BNB and Cardano communities.  Its concept, growth, and blend of play-to-earn (P2E) Features might be driving interest.  You might also like: Weekly brief: supporters of NuggetRush, Solana, and Arbitrum bullish The project aims to build a strong community and is gaining momentum with the utilization of internet memes.  NuggetRush is in its second presale round, where NUGX is available for $0.012.  Analysts remain upbeat, expecting more ga...

Altseason incoming? Altcoins broke out from this 3-year pattern

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Altseason is how cryptocurrency traders call a specific moment in a bull market when most altcoins Bitcoin (BTC). As it happened in previous cycles, Bitcoin leads each cycle’s impulse, starting an upward movement and increasing its dominance. Other cryptocurrencies then follow BTC leadership during its consolidation. Interestingly, this usually results in better individual performances than the leader, boosting Altcoin’s total capitalization. After a profitable year for Bitcoin investors, analysts speculate if 2023’s altseason is about to start. Notably, BTC is up by more than 130% since November 2022, with 52% dominance, while altcoins’ total market cap lags behind. One of these analysts answers on X for the pseudonymous Moustache (@el_crypto_prof). In particular, Moustache identified a possible breakout for altcoins from the Gaussian Channel, imitating a pattern from three years ago. The same pattern was also spotted in 2016, starting the first big altseason in history. Altc...

Ripple: Whale Moves $30M To Exchanges, Will XRP Dip To $0.50?

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Ripple ’s partial victory in its legal battle with the SEC (Securities and Exchange Commission) led to a surge in XRP’s price and popularity. However, a recent transfer of XRP tokens to centralized exchanges has raised the eyebrows of several investors. According to blockchain tracker Whale Alert, an unknown wallet transferred almost 50 million tokens worth around $31 million to two centralized exchanges. The wallet moved 25.20 million coins to Bitstamp, a Luxembourg City-based exchange, and another 25 million to CEX Bitso. Yesterday, the same wallet transferred 43.80 million XRP to Bitstamp and CEX Bitso. Hence, it appears that the whale is considering selling its holdings. Also Read: Ripple XRP to Rally 200% and Hit $1.88: Predicts Analyst The movement of assets to exchange is a bearish development as it increases the possibility of sale. The whale wallet has so far transferred almost 100 million tokens to the exchanges. Selling 100 million coins could hurt...

European Banking Authority proposes overhaul of AML, CFT rules for crypto providers

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In a consultation paper released on Nov. 24, the European Banking Authority (EBA), an EU agency tasked with implementing a standard set of rules to regulate banking across all EU countries, highlights that existing regulations governing Anti-Money Laundering/Combating the Financing of Terrorism (AML/CFT) standards compliance for crypto provide rs are inadequate.  The EBA has since invited interested parties to provide comments until Feb. 26. The proposal, in effect As stated in the Executive Summary, the paper comes as bid to enhance measures for detecting missing or incomplete information on the payer or payee; the EBA is suggesting the repeal of the 2017 Joint European Supervisory Authorities (ESAs) Guidelines under Article 25 of Regulation (EU) 2015/847. This move aims to streamline procedures and better manage fund transfers lacking essential information within the regulatory framework. Worth noting is that in section four of the consultation paper, labeled “P...

CoinGecko: 10 AI Tokens Surge as Sam Altman Left and Rejoins OpenAI

CoinGecko announces that 10 AI tokens increased by up to 80.4% when OpenAI fired and rehired Sam Altman. Akash Network took the lead as the largest gainer, where it skyrocketed by 80.4% on November 20. Altman’s Worldcoin also climbed up, increasing between 26.4% to 50.9% . CoinGecko, a large cryptocurrency tracking website, releases an insight into the 10 Artificial Intelligence tokens that increased by 11.8% to 80.4% from November 20 to November 23. This large crypto aggregator highlights that the surge coincided with the decision of OpenAI, an AI research and deployment company, to fire and rehire its co-founder, Sam Altman.  In a recent X post, CoinGecko wrote that Akash Network (AKT) took the lead as the largest gainer, where it skyrocketed by 80.4% on November 20. AKT purportedly showed a 61.1% increase, from $1.02 to $1.65, on November 23. Check out the full study: https://t.co/Gu1CTr9RH4 Which AI token are you the most bullish on? Let us...