[ad_1] Follow Nikolaus On X Here El Salvador’s misguided critics got some new ammunition this week. A recent survey revealed just 7.5% of Salvadorans use Bitcoin for transactions, and that 92% of Salvadorans do not. But while some (cue: Steve Hanke) may look at these numbers and think “Oh, well that experiment failed,” I disagree. Even putting aside the increased tourism, business activity, and international notoriety, El Salvador’s Bitcoin legal tender law has been a success.El Salvador currently has a population of around 6.3 million, meaning 475,000 (7.5%) people are now using Bitcoin for transactions. The fact that almost half…
Author: dfrancis36
[ad_1] The social media platform X account behind a new Ethereum (ETH) ‘restaking’ protocol has been compromised weeks after the token’s launch. According to PeckShieldAlert, the social media account belonging to EigenLayer (EIGEN) was hacked with a phishing link this morning. “EigenLayer X account has been compromised. Do*NOT* click the phishing link eligible-eigenfoundation[.]org” Source: PeckShieldAlert/X It is not yet known how many people fell victim to the phishers. According to DeFi Llama, the protocol is the second-largest project on Ethereum with over $11 billion in total value locked (TVL). The account promoted multiple phishing scam links before being shut down.…
[ad_1] Late Thursday, the US Securities and Exchange Commission (SEC) has filed Form C in its case against Ripple Labs, specifying the grounds of its appeal against Judge Analisa Torres’s final ruling from August 7. This filing, which was due by October 16, comes after the SEC’s initial Notice of Appeal on October 2 lacked detailed arguments. Ripple Vs. SEC: Appeal Details The SEC’s appeal targets specific aspects of the summary judgment that were favorable to Ripple. Attorney James “MetaLawMan” Murphy commented on the filing, stating that the SEC is appealing the rulings on “Ripple’s XRP sales through exchanges; Ripple’s…
[ad_1] The founders of analytics firm Glassnode say that altcoins may have one last dip before they start to outperform Bitcoin (BTC). Jan Happel and Yann Allemann, who go by the handle Negentropic, tell their 63,400 followers on the social media platform X that despite a possible near-term correction many altcoins may soon start performing well. “Altcoin opportunities on the horizon. Our Bitcoin-altcoin cycle indicator shows we’re back in a BTC-dominant regime (below 50 on the chart). As Bitcoin pulls back and altcoins drop sharply, this opens up entry opportunities. If BTC breaks through resistance and the indicator moves above…
[ad_1] Following its price increase of more than 12% in the past week to roughly $71.50 on October 16, Litecoin (LTC) is attracting more and more interest. The action followed growing buzz about a planned Litecoin exchange-traded fund (ETF) proposal by Canary Capital Group. Investors are excited, since this ETF may provide a more direct method for investing in Litecoin, allowing both individual and institutional participants to access the market. The S-1 registration statement for the proposed ETF was filed on October 15, requesting permission from US regulators. Numerous individuals regard this as a transformative development. Approval might help legitimize…
[ad_1] A Nigerian court has adjourned the trial of Binance executive Tigran Gambaryan, who is currently detained in Nigeria. The trial was delayed today (Friday) after Gambaryan, a US citizen and Head of Financial Crime Compliance at Binance, could not attend due to illness. He has been held in Nigeria since February and faces charges of laundering over $35 million, which both he and Binance deny.Trial Postponed for Medical TreatmentJudge Emeka Nwite of the Federal High Court in Abuja postponed the trial to October 25 to allow Gambaryan to receive medical treatment. Last week, Judge Nwite denied Gambaryan’s request for…
[ad_1] The Ford Model T has been invented, the automobile has arrived and nothing else must be done! A hand crank start motor, rear wheel drive only, wooden wheels, and transmission based braking system with no wheel brakes. Why would anyone need anything else? Who could need seatbelts? Proper wheel based braking systems? An automated ignition engine? Why would people need reinforced steel frames? Buckle zones? Navigation systems? Shatter-safe glass? Airbags? The Model T is perfect, it is the peak of the automobile and contains all features anyone would ever need!This is what Bitcoiners sound like when arguing vehemently and…
[ad_1] Este artículo también está disponible en español. Bitcoin is at a pivotal moment after surging past the $68,000 mark and setting a new local high, confirming its bullish uptrend. Analysts and investors closely monitor the next steps, searching for signs of a continued rally or a potential retrace from higher supply levels. While the excitement is palpable, there is caution as traders prepare for possible resistance. Related Reading Top analyst Daan shared a technical analysis highlighting that Bitcoin has broken out of an accumulation channel, suppressing the price. According to Daan, this breakout above the $68,000 resistance level signals…
[ad_1] Crypto analyst Javon Marks has predicted that the Dogecoin price will soon witness a parabolic run. This prediction follows his analysis of the meme coin’s historical performance, which he claimed could lead to a price rally of over 400%. Dogecoin Price To Reach All-Time High Soon Enough Marks predicted in an X post that the Dogecoin price could reach its current all-time high (ATH) of $0.73 as it enjoys a quick 431% rally from its current price. The analyst noted that this price prediction was based on the meme coin’s price and past performances in previous cycles. In line…
[ad_1] Bitcoin’s Open Interest (OI) has been experiencing significant growth lately, with several experts reporting that the metric has surged to a new all-time high. However, Alphractal, an investment data analysis platform, has addressed the claims, noting that open interest in BTC is yet to reclaim its current peak. Open Interest In Bitcoin Remains Below All-Time High According to Alphractal, open interest in Bitcoin, the largest cryptocurrency asset, continues to lag behind its present all-time high level, indicating that the market is still cautious despite recent positive price movements. Bitcoin open interest is a key indicator that refers to the…