[ad_1] In recent trading sessions, Avalanche (AVAX) has seen a significant drop in its market value, with its price tumbling to a six-month low. Over the past month, AVAX has plummeted by 25%, with a 14.7% drop in just the past week and a further 0.3% decrease in the last 24 hours, bringing its current trading price to $24.23. This decline marks a stark turnaround for an asset that has otherwise shown strong performance in previous months. Related Reading Additional 60% Correction Ahead For AVAX, But Why? The persistent downward trend has not gone unnoticed in the crypto community. Technical…
Author: dfrancis36
[ad_1] Pranksy’s Optimism in the Future of NFTs Well-regarded non-fungible token (NFT) collector Pranksy has voiced optimism approximately the destiny of NFTs, countering a developing narrative in their decline. Pranksy, an early NFT investor who has built a large following and collection, recently asked his X followers about the last time they purchased an NFT. The post received nearly 118k views and more than 500 replies, prompting Pranksy to state that the NFT space is still living and breathing. “500 genuine replies, there is life in the old girl yet,” he wrote, implying that the future of NFTs is still…
[ad_1] Bitcoin is under immense selling pressure at press time, and printing discourages lower lows. While the coin finds a ceiling at $66,000 and bears targeting a retest of $60,000 or even May lows, one analyst is defiant. Bitcoin Analyst Upbeat: Next Stop $500,000? In a post on X, the analyst admitted that the coin is currently treading on a precarious path. As things stand, Bitcoin is teetering between the possibility of mass institutional adoption in the next few months and the crashing likelihood of a damaging price dump from the colossal Mt. Gox payout set for July 2024. Even…
[ad_1] The Solana price has experienced a sharp decline over the past month in line with the broader market correction, intensifying concerns as rumors of a potential investigation into the popular blockchain platform have recently surfaced. Regulatory Storm Brewing? In a social media post on X (formerly Twitter), market expert Crypto Bitlord, who has a considerable following of over 300,000 people, hinted at a rumored investigation into Solana. The post read: We are hearing rumors that SOL is under investigation and a huge case is about to be made public. This has been brewing for weeks and couldn’t come at…
[ad_1] Risks of Celebrity Crypto Endorsements Pop icon Jason Derulo finds himself at the center of controversy after promoting a meme coin named JASON, which plummeted in value shortly after its release. Known for his musical performances, Derulo’s involvement in the volatile meme coin market has initiated a broader debate about the ethical concerns and potential risks of celebrity crypto endorsements. This incident has led to significant monetary losses for investors and reputational damage for the celebrities involved. The Fallout: Derulo and Sahil Arora Recently, Jason Derulo took to X to announce the launch of the meme coin JASON to…
[ad_1] With the Bitcoin price drop from the $70,000 level to below $64,000, meme coins have understandably suffered as a direct result of this. During this time, meme coins, both large and small, have seen their prices drop significantly, raising concerns about whether the meme coin summer is over. However, going by previous crashes, there may still be hope, especially as crypto analysts continue to predict a larger move up for these coins. Meme Coins Struggle To Hold Up A cursory look at the meme coins list on the CoinGecko website shows that these coins have continued to bleed drastically…
[ad_1] The crypto firm behind the largest USD-pegged stablecoin by market cap says it is shifting focus to community-driven blockchains. According to a new press release from Tether, the firm behind USDT, the company always takes “community interest” into consideration when evaluating a blockchain. “Community interest plays a pivotal role when we bring USDT to specific blockchains. We carefully evaluate the network’s security architecture to ensure the safety, usability, and sustainability of the chosen blockchain. Our goal is to allocate resources where they can best enhance security and efficiency while continuing to support innovation across the crypto landscape.” According to…
[ad_1] The insatiable demand for power by artificial intelligence firms is benefiting Bitcoin miners. Hut 8 (NASDAQ:HUT) shares outperformed most peers on Monday after the Miami-based company received a $150 million investment from Coatue Management to develop AI infrastructure. This investment will be provided through convertible notes with an 8% annual interest rate and a conversion rate of $16.395 per share, as stated by the company. Following the announcement, Hut 8 shares rose nearly 4% during Monday morning trading, even as most of its peers followed Bitcoin (BTC) lower. The investment also positively impacted other Bitcoin mining-related data centers involved…
[ad_1] At the most recent Bitcoin++ developer conference in Austin, TX, Bitcoin Magazine’s Alex B. sat down with Michael from Boltz and Tiero from Ark Labs to discuss the latest developments in Bitcoin’s technology ecosystem, particularly focusing on Lightning Network, Liquid, and emerging technologies like Ark.The Journey and Challenges of LightningReflecting on the journey of the Lightning Network, Michael shared insights on the challenges faced, especially in high-fee environments. “The biggest blind spot that was glaringly obvious recently was like in a high fee environment, Lightning tends to hurt a lot,” he said. He elaborated on the difficulties posed by…
[ad_1] Meet Samuel Edyme, Nickname – HIM-buktu. A web3 content writer, journalist, and aspiring trader, Edyme is as versatile as they come. With a knack for words and a nose for trends, he has penned pieces for numerous industry player, including AMBCrypto, Blockchain.News, and Blockchain Reporter, among others. Edyme’s foray into the crypto universe is nothing short of cinematic. His journey began not with a triumphant investment, but with a scam. Yes, a Ponzi scheme that used crypto as payment roped him in. Rather than retreating, he emerged wiser and more determined, channeling his experience into over three years of…