[ad_1] A Nigerian court has ordered the freezing of nearly $40 million in crypto funds believed to have been used to support nationwide protests against the government. The ruling, amid heightened tensions over the rising cost of living in Africa’s most populous nation, has sparked concerns over the authorities’ response to civic unrest. Anti-Graft Agency Freezes $38 Million According to local media reports, the Economic and Financial Crimes Commission (EFCC), Nigeria’s top anti-corruption agency, alleged that the frozen assets represent the “proceeds of money laundering and terrorism financing.” However, details on the specific individuals or groups whose wallets were targeted…
Author: dfrancis36
[ad_1] The crypto market continues to be influenced primarily by broader macroeconomic conditions, with the latest US Consumer Price Index (CPI) report providing a glimmer of optimism for risk assets, including cryptocurrencies. Crypto Awaits Fed’s Move According to a recent Coinbase report, the slightly softer-than-expected July CPI print of 2.9% year-over-year – the lowest level in three years – has “calmed market concerns and reinforced expectations of impending Fed rate cuts at the September 17-18 Federal Open Market Committee (FOMC). Per the report, this has been viewed as positive news for risk sentiment, as it may help dispel fears of…
[ad_1] In a move that underscores the growing influence of the crypto industry in the political sphere, former president Donald Trump announced on Friday that he will appoint Howard Lutnick, the CEO of financial firm Cantor Fitzgerald, to lead his transition team should he be re-elected in 2024. Crypto Ally To Lead Potential Transition According to recent reports, Trump’s official transition will be led by two top donors to his campaign: Linda McMahon, who previously served as head of the Small Business Administration during Trump’s first term, and Howard Lutnick. According to the reports, Trump’s running mate, Senator JD Vance from…
[ad_1] Ethereum (ETH) price has struggled amid another market shakeout. The second-largest cryptocurrency by market capitalization fell below the $2,600 support zone for the third time in the past week, prompting crypto analysts to evaluate the next levels to watch out. Related Reading ETH’s Key Support Zone To Watch Out The crypto market has seen several retraces throughout the cycle, with cryptocurrencies like Ethereum significantly decreasing from its Q3 opening. Since July 1, the “king of altcoins” has seen a 24% drop from the $3,400 support level. Following its fall below the $2,100 mark during the ‘Black Monday’ crash, ETH…
[ad_1] Bitcoin is moving sideways in a consolidation, forming a bull flag that is clear in the daily chart. While prices are stable when writing, shaking off the weaknesses of yesterday, BTC is down 8% from last week’s highs and remains in a fragile position. Technically, what’s needed for Bitcoin, at least in the short term, is for prices to shoot higher, breaching $63,000. When this happens, it may signal that buyers have sufficient momentum to confirm gains of August 8. The development could set the ball rolling for another leg up toward $70,000 in a buy trend continuation formation.…
[ad_1] In an attempt to “reset” the relationship of Vice President Kamala Harris with the crypto sector, the “Crypto For Harris” campaign convened a virtual town hall that featured a litany of Democratic heavyweights and tech influencers. Despite these efforts, the event, which was designed to articulate and promote a potential Harris-led “crypto reset,” largely missed the mark in rallying industry support, according to a FOX Business report. The virtual conference, which lasted nearly 90 minutes, was attended by key Democratic figures including Senate Majority Leader Chuck Schumer (D-New York), Senators Debbie Stabenow (D-Michigan) and Kirsten Gillibrand (D-New York), along…
[ad_1] A crypto market expert has expressed bullish optimism for Solana (SOL), predicting that the cryptocurrency is currently on track to replicate Ethereum’s historical rise to new highs. As a result, the expert foresees SOL hitting new all-time highs of $1,000 this bullish cycle. Solana Sets Sights On $1,000 On August 12, a crypto analyst identified as ‘Kaleo’ on X (formerly Twitter) shared his optimistic expectations for Solana’s future outlook during this bull market. Kaleo observes that the Solana’s price chart was currently replicating a pattern previously seen in Ethereum in late 2020. Related Reading Source: X Comparing Solana’s market…
[ad_1] A significant shift is on the horizon—the potential ‘financialization’ of Bitcoin through the introduction of options on spot Bitcoin exchange-traded funds (ETFs). This move could herald a new era for Bitcoin, aligning it closer to the operational dynamics of traditional financial markets. Spot Bitcoin ETF Options Coming Soon? Recent activities may indicate significant strides towards the approval of spot Bitcoin ETF Options. Notably, key market players such as NASDAQ, NYSE, and CBOE have retracted their initial filings. While CBOE already submitted a more detailed application shortly thereafter, NASDAQ and NYSE are expecting to follow suit. James Seyffart, a Bloomberg…
[ad_1] The crypto market has witnessed a substantial surge in the Cardano trading volume over the last 24 hours. Yet, the blockchain’s native token, ADA, has failed to deliver a proportional price increase. Bullish Cardano Volume Data According to data from the information platform CoinGlass, Cardano, currently the 11th largest cryptocurrency by market capitalization, has experienced a 150% surge in trading volume in the 24 hours, amounting to approximately $477 million. Related Reading CoinGecko’s data also corroborates this trend, revealing a substantial 67% increase in Cardano’s trading volume compared to the previous day’s figures, which stood at $358 million. However,…
[ad_1] The Shiba Inu (SHIB) burn rate has again tumbled with the number of tokens burned in the last 24 hours, painting a bearish picture for the meme coin. Shiba Inu’s burn rate has continually fluctuated since the start of the year, with a lack of a catalyst to sustain a significant amount of tokens burned daily. Shiba Inu’s Burn Rate Declines By 100% Data from the burn tracking website Shibburn shows that Shiba Inu’s burn rate has declined by over 100%, with zero tokens burned in the last 24 hours. Interestingly, no SHIB token has been burnt in the…