[ad_1] WazirX, the Indian cryptocurrency exchange that suffered a loss of $230 million in a cyberattack, has devised a controversial recovery plan that would impact all the platform’s users, even those who were not affected by the attack. The platform did not insure clients’ funds. According to a blog post published by the exchange on Saturday, the “socialisation” of the losses and the distribution of the impact among all users have been proposed. However, the exchange will conduct a vote on the controversial proposal by August 3.Users Suffer Due to the Lack of InsuranceCrypto exchange hacks are not new. Even…
Author: dfrancis36
[ad_1] With Bitcoin gaining traction to become a potential strategic reserve asset in the United States, it appears other pro-crypto countries might be considering adopting this significant move as Johnny Ng, a lawmaker in Hong Kong, has revealed his intention to discuss the feasibility and potential advantages of including BTC to the nation’s financial reserve. His action showcases Hong Kong‘s forward thinking in the crypto industry while becoming a hub for the active promotion of financial and technical innovation. It also represents an active embrace of the changing economic landscape, which may serve as a model for other financial hubs…
[ad_1] Widely followed analyst and trader Michaël van de Poppe believes crypto is on the verge of a big burst to the upside. Van de Poppe tells his 721,600 followers on the social media platform X that the total crypto market cap chart (TOTAL) is gearing up to take out its last resistance level at $2.66 trillion. The trader shares a chart suggesting that TOTAL is in a strong uptrend buoyed by bullish higher-low setups. “The total market capitalization of crypto is showing a massive, bullish chart. Within two-three months from now, we’re going to break through the all-time high…
[ad_1] Bitcoin price started a fresh increase above the $68,000 resistance. BTC is now rising and might climb toward the $70,000 resistance zone. Bitcoin formed a base and started a fresh increase above the $68,000 resistance zone. The price is trading above $68,500 and the 100 hourly Simple moving average. There was a break above a key bearish trend line with resistance at $68,200 on the hourly chart of the BTC/USD pair (data feed from Kraken). The pair might accelerate higher toward the $70,000 and $70,800 levels in the short term. Bitcoin Price Could Soon Retest $70,000 Bitcoin price remained…
[ad_1] Aayush Jindal, a luminary in the world of financial markets, whose expertise spans over 15 illustrious years in the realms of Forex and cryptocurrency trading. Renowned for his unparalleled proficiency in providing technical analysis, Aayush is a trusted advisor and senior market expert to investors worldwide, guiding them through the intricate landscapes of modern finance with his keen insights and astute chart analysis. From a young age, Aayush exhibited a natural aptitude for deciphering complex systems and unraveling patterns. Fueled by an insatiable curiosity for understanding market dynamics, he embarked on a journey that would lead him to become…
[ad_1] XRP price is attempting a fresh increase above the $0.600 zone. The price could gain bullish momentum if it clears the $0.6200 resistance level. XRP price is showing positive signs from the $0.600 support zone. The price is now trading above $0.6050 and the 100-hourly Simple Moving Average. There was a break above a key contracting triangle with resistance at $0.6050 on the hourly chart of the XRP/USD pair (data source from Kraken). The pair could gain bullish momentum if it stays above the $0.5940 support zone. XRP Price Eyes Could Gather Pace Toward $0.650 XRP price remained stable…
[ad_1] Ethereum price started a decent upward move from the $3,080 support zone. ETH is recovering and might aim for a test of the $3,500 resistance zone. Ethereum is showing positive signs from the $3,150 pivot zone. The price is trading above $3,250 and the 100-hourly Simple Moving Average. There was a break above a key bearish trend line with resistance at $3,280 on the hourly chart of ETH/USD (data feed via Kraken). The pair could continue to move up if it stays above the $3,280 support zone. Ethereum Price Eyes Steady Increase To $3,500 Ethereum price formed a base…
[ad_1] The anticipated launch of Spot Ethereum Exchange-Traded Funds (ETFs) has yet to translate into a favorable price performance for Ethereum. In fact, some analysts and market participants might argue that the launch of Spot Ethereum ETFs has turned out to be a “sell the news” event. This viewpoint is bolstered by the recent price activity of Ethereum, which experienced a significant decline, dropping to a low of $3,100 after having traded at the $3,500 price level earlier in the week. Despite this, on-chain data provides an intriguing insight. There has been a huge increase in activity among Ethereum whales,…
[ad_1] Bitcoin has definitely performed on the bullish side for the past three weeks. Many investors are now convinced of the full return of bullish price actions, and various technical indicators support this surge in optimism. One such indicator is the hash ribbon, which highlights a positive price momentum for Bitcoin. Related Reading The hash ribbon provides a compelling view of on-chain activity by tracking the behavior of miners, who are known to have a direct influence on the cryptocurrency’s price. Price Momentum Flips Positive Crypto analyst Ali Martinez highlighted an intriguing phenomenon with the hash ribbon indicator on social…
[ad_1] Former US President and Republican Presidential candidate Donald Trump has reaffirmed his unwavering support for the crypto industry. While speaking at the Bitcoin Conference, in Nashville, Tennessee, USA, the billionaire and former Bitcoin critic outlined numerous crypto adoption plans he intends to implement in office if elected, part of which included significant regulatory changes. SEC Chair Gary Gensler To Be Sacked On Day 1, Trump Says According to Donald Trump, his first action in embracing crypto adoption as US President will be the immediate dismissal of US Securities and Exchange Commission (SEC) Chairman, Gary Gensler. Certainly, this promise is…