Author: Sana Ali
Ethereum is primed for a bullish breakout, aiming for $2,220. Traders monitor resistance levels, an inverse head and shoulders pattern, the Money Flow Index (MFI), and the Moving Average Convergence Divergence (MACD). Exercise caution for potential pullbacks and watch key support levels. Ethereum, one of the leading cryptocurrencies, is showing promising signs of a bullish trend with the potential for a significant price surge. Traders and investors are eagerly watching as Ethereum aims to break through the $2,000 mark and potentially reach $2,220 in the short term. However, before this upward movement can occur, Ethereum must overcome resistance at the…
Hotbit Exchange Accused of Rugpull as Selling Rampage Raises Concerns in Crypto Community. Hotbit Exchange, a prominent cryptocurrency trading platform, is facing allegations of engaging in a selling rampage that is suspected to be a rugpull attempt. The accusations have emerged after decentralized finance (DeFi) project RichQuack took to Twitter to announce that it had fallen victim to a rugpull orchestrated by Hotbit. According to the tweet, the exchange allegedly sold a staggering 256 trillion QUACK tokens, which rightfully belonged to $QUACK holders on the PancakeSwap platform. At the time of writing, the total value of the tokens sold off…
Terraform Labs works on LUNC/USTC swaps, signaling Terra Classic’s revival efforts. Terraform Labs, the team behind Terra Classic (LUNC), is making progress towards implementing a highly anticipated feature for the community. They have begun working on a Pull Request proposal that will allow LUNC/USTC swaps on TerraSwap, a decentralized exchange on the Terra blockchain. The push for LUNC/USTC swaps has been gaining momentum within the Terra Classic community for several weeks now. The proposal for this token trading pair was initially put forward on June 17th, and a Pull Request was subsequently submitted to officially present the idea. Exciting news…
Pro-XRP lawyer highlights potential advantage for SEC in Ripple lawsuit, suggesting a stronger position if SEC focused solely on programmatic XRP sales, clarifying distinction from ODL sales; opinions expressed are personal and not legal advice. Pro-XRP lawyer, Bill Morgan, has pointed out a potential advantage that the U.S. Securities and Exchange Commission (SEC) could have had in its lawsuit against Ripple. According to Morgan, if the SEC had focused its complaint solely on programmatic XRP sales, it might have been in a stronger position to win the case. Morgan, an Australian-based attorney, highlighted that the SEC’s complaint against Ripple included…
Crypto market prepares for $7B bitcoin and ether options expiries, expecting heightened volatility. Bitcoin and ether traders are bracing themselves for a significant expiration of options contracts worth a staggering $7 billion. This event is anticipated to heighten volatility in the crypto market, especially after bitcoin’s recent period of hovering above $30,000, a level it has struggled to surpass over the past year. Scheduled for Friday, the upcoming expiration encompasses 158,774 bitcoin contracts valued at $4.8 billion and 1.23 million ether options worth $2.3 billion on the Panama-based Deribit exchange, solidifying its dominance in over 85% of global trading for…
BlackRock’s surprise move triggers a cryptocurrency gold rush, propelling Bitcoin to new yearly highs and fueling optimism for mainstream adoption. In an unexpected twist, the cryptocurrency market witnessed an electrifying surge as a result of a series of spot Bitcoin ETF applications. Leading the charge was BlackRock, the renowned global asset manager, whose involvement set off a frenzy reminiscent of a gold rush. The impact was immediately felt, as Bitcoin (BTC) embarked on a thrilling rally, catapulting its value from $25,000 to an astounding peak of over $31,000. This significant milestone marked a pivotal moment for the digital asset. BlackRock’s…
Web3 firms in Hong Kong go all-in on crypto licenses, investing millions in regulatory compliance, reveals Foresight News report. In a race to secure Virtual Asset Service Provider (VASP) licenses, Web3 firms in Hong Kong are shelling out substantial amounts, with expenditures ranging from 20 million to 200 million Hong Kong dollars ($2.55 million to $25.5 million), according to a report by Foresight News released on June 27. High Expenses And Infrastructure Challenges Drive Costly License Acquisition For Web3 Firms The surge in expenses is attributed to the absence of pre-existing infrastructure for traditional financial institutions in the crypto realm.…
Exploring the energy consumption of Bitcoin mining and the global trend of banning crypto mining, with a focus on China’s recent prohibition. On Thursday, the prosecution in Tripoli announced that Libyan authorities have shut down a crypto mining operation in the western part of the country. During a search of a farm in Zliten, located about 160 kilometers east of the capital, agents from the interior ministry discovered that minors were using advanced equipment to create virtual currencies. They also apprehended 50 Chinese nationals who were involved in this activity, according to a statement issued by the prosecutors. The Tripoli…
Binance’s zero maker fee promotion for TUSD and BUSD trading pairs revolutionizes stablecoin trading amidst regulatory challenges. Zero maker costs for TrueUSD (TUSD) trading pairs have been introduced by Binance, the largest cryptocurrency exchange in the world, in a move that is expected to completely disrupt the stablecoin trading environment. This strategic strategy aims to accelerate stablecoin evolution to new heights, promote broad adoption, and improve liquidity. Since maker costs for TUSD spot and margin trading have been totally reduced, the recent news has given Binance users additional opportunities to engage in relatively affordable trading of USD stablecoin pairs. With…
BlackRock disrupts the status quo, confronting the SEC with a groundbreaking application for a Bitcoin Spot ETF. BlackRock, the world’s largest asset manager, has made a groundbreaking move by filing an application for a spot Bitcoin exchange-traded fund (ETF) with the United States Securities and Exchange Commission (SEC). The highly anticipated filing came on Thursday, following earlier reports suggesting that BlackRock’s entry into the Bitcoin ETF space was imminent. With a staggering $9.5 trillion in assets under management during the first quarter of 2023, BlackRock is partnering with Coinbase, the largest cryptocurrency exchange in the United States, for this venture.…