Analysis Crypto by Thebittimes.Com

In a meticulously detailed letter to Judge Analisa Torres of the Southern District of New York, the US Securities and Exchange Commission (SEC) has delineated its grounds for seeking an interlocutory appeal against Ripple Labs Inc. This move, which has sent ripples (pun intended) through the XRP community, focuses on the intricate legalities surrounding Ripple’s sales and distributions of XRP. Ripple Vs. SEC: Interlocutory Appeal Incoming The SEC’s primary contention revolves around Ripple’s “programmatic” sales to XRP buyers over crypto asset trading platforms and Ripple’s “other distributions” in exchange for labor and services. The regulatory body asserts that these transactions should be classified as offers or sales of securities, drawing upon the precedent set by the Howey case. Related Reading: Pro-XRP Lawyer John Deaton Says He Is Willing To Bet That Ripple Will Win SEC Appeal The SEC’s letter...

The Floki price surged 15% in the last 24 hours to trade at $0.000199 as of 02:43 a.m. EST on trading volume that soared 195% to $503 million. This comes as dog-themed coins pump four days after International Dogecoin Day, with Dogecoin, Shiba Inu, and Dogwifhat gaining 4%, 3.6%, and 20%, respectively. Floki Price To Continue Its Surge Over The Falling Wedge FLOKIUSD Chart Analysis Source: Tradingview.com The Floki price rose massively in March, hitting a yearly high of $0.00032, as it drew closer to its all-time high (ATH) of $0.00033. From this point, the bulls have not been able to reclaim this high, with the price trending down within the falling wedge pattern. However, FLOKI has used the $0.00012 support zone to soar, with the bulls propelling the price over the upper boundary of the falling wedge. FLOKI is also trading well above both the 50-day and 200-day Simple Moving Averages (SMAs), confirming the asset’s upside potential in the long term. Moreover, the reading ...

The Hedera price skyrocketed over 90% in the past 24 hours to trade at $0.1706 as of 12:00 a.m. EST as investors rush to buy the crypto. HBAR’s surge comes after Archax, Ownera and the HBAR Foundation enabled the first tokenization of BlackRock’s money market fund on the Hedera blockchain. Today we witness #RWA history as @BlackRock’s ICS US Treasury money market fund (MMF) is tokenized on @Hedera with @ArchaxEx and @OwneraIO, marking a major milestone in asset management by bringing the world’s largest asset manager on-chain 🏦 pic.twitter.com/1Kye8cjAJx — HBAR Foundation (@HBAR_foundation) April 23, 2024 The surge was caused in part by influencers on X misunderstanding the development as being driven by BlackRock. The Hedera Price Smashes Through Resistance Levels 4-hour chart for HBAR/USDT (Source: TradingView ) The Hedera price broke above the resistance levels at $0.11261 and $0.13156. Traders are now attempting to push the altcoin...

In a strategic pivot amid tightening U.S. sanctions, Venezuela’s state-run oil company, Petróleos de Venezuela S.A. (PDVSA), plans to increase cryptocurrency usage in its crude and fuel exports. As the U.S. Treasury Department declines to renew critical licenses that facilitated oil trades, PDVSA is accelerating its shift towards digital currency to preserve trade continuity and financial stability, as reported by Reuters Context and sanctions overview The Biden administration has taken a firm stance on Venezuelan oil sanctions in light of the government’s failure to comply with agreements designed to ensure fair presidential elections in 2024. Specifically, the expiration of General License 44, which allowed transactions related to Venezuela’s oil and gas sector, marks a significant tightening of sanctions . Picks for you Opportunity? Crypto expert reveals massive Bitcoin buy price point 44 mins ago Bitcoin miners underwater as production costs surge...

According to the data from Etherscan.io, a Shiba Inu (SHIB) whale has purchased 237 billion SHIB tokens, valued at around $6.3 million. The whale wallet currently holds about $11.2 million worth of Ethereum (ETH), SHIB, and FTT.  Source: Etherscan.io Also Read: Shiba Inu Forecasted To Reach 1 Rupee 46 Paisa in India: Here’s When The whale purchase comes amid SHIB’s slight recovery after the recent market correction, fuelled by Iran’s attack on Israel. Despite a 2.8% correction in the daily charts, SHIB’s price has rallied 23% over the previous week. Source: CoinGecko Will Shiba Inu (SHIB) rally soon? Source: Instagram / PrithivChandar The whale may be anticipating a bullish outlook for Shiba Inu (SHIB). The asset is one of the most popular cryptocurrencies in the market and has seen a significant rise earlier this year. SHIB is currently the 12th largest crypto project by market cap, sitting behind Cardano (ADA). SHIB’s journey to the 12th place wa...

Following a period of consecutive declines, Ripple [XRP] has seen a prominent resurgence in the last week. Despite these positive movements, obstacles loom large on the path to recovery. The altcoin’s price rose by 6% and even peaked at $0.5687 earlier today. XRP went on to outpace other altcoins in the market. At press time, the altcoin was trading at $0.5497 with a 2.75% daily surge. The altcoin’s market cap reached $30 billion following a 2.71% surge. The daily trading volume surged by 67%. Amidst this, the number of wallets holding over 1 million XRP has been steadily rising. It is even nearing its all-time high with a 3.1% increase throughout the past six weeks. Source Also Read: Will Halving Mayhem Push XRP Closer to $1 In May? Legal Battle with SEC Ripple Labs is currently embroiled in a legal dispute with the U.S. Securities and Exchange Commission [SEC]. Ripple recently countered the SEC’s push for nearly $2 billion in penalties and even detailed...

The Bitcoin market is expected to maintain a narrow trading range for a few days as market participants struggle for dominance ahead of the halving. The cryptocurrency is currently consolidating within an upward trend, reflecting a battle between bullish and bearish forces. The short-term advantage seems to lie with the bears, given historical trends showing a typical 8.33% decrease in Bitcoin prices during the 14th week of the year, as per Coinglass data. During this period of Bitcoin’s price stability, traders are likely to monitor the performance of spot Bitcoin-exchange closely traded funds (ETFs), which have been influential in driving prices. A comparison with March, when trading volumes experienced a significant increase, could be insightful. According to Eric Balchunas, an ETF analyst at Bloomberg, spot Bitcoin ETF trading volumes surged from $42.2 billion in February to $111 billion in March. Crypto market data daily view. Source:  Coin360 Howe...