[ad_1] Ripple has again raised concerns in the XRP community following its recent XRP sale. This comes amid XRP’s unimpressive price action, which continues to paint a bearish outlook for the crypto token. Ripple Sells 150 Million Tokens On-chain data shows that the crypto firm offloaded 150 million XRP tokens ($78 million) on June 7. These tokens formed part of the 1 billion XRP tokens, which were recently unlocked as part of its monthly escrow unlock, which is set to continue until 2027. As expected, this sale has raised concerns, considering the impact many believe it could have on the…
Author: dfrancis36
[ad_1] The price of Dogecoin succumbed to severe bearish pressure in the late hours of Friday, June 7th, dropping below the $0.15 level for the first time in June 2024. With the meme token looking stuck in a consolidation range all week long, the latest price drop will be another potential source of concern for most investors. However, a burst of whale activity has been observed on the blockchain recently, suggesting that the latest price decline is likely a temporary setback and that Dogecoin’s value may rise again soon. Dogecoin Whale Transactions Hit A New High Since March In a…
[ad_1] Adenasoft, a South Korea-based IT/software company, has just announced the launch of ACE, their new SaaS product designed for cryptocurrency exchanges. ACE fully prepares businesses for exchange operations quickly, taking less than a month to get up and running. ACE offers a comprehensive suite of features that enables crypto exchanges to streamline their operations and provide a seamless user experience. From a fully integrated trading platform to customer management tools, wallet services, custody solutions, and more, ACE provides all the essential functionalities required to launch a cryptocurrency exchange. The Adenasoft team focused significant effort on designing a platform that…
[ad_1] The price of Litecoin (LTC) has had a disappointing performance in the second quarter of 2024, despite making a positive start to the year. The cryptocurrency has been facing significant bearish pressure in the past day, with its price falling by nearly 5% in a single move. Despite LTC’s apparent struggles in terms of price action, its network has witnessed remarkable growth in recent weeks. LTC Addresses Spike By 75% In A Single Day According to data from the on-chain analytics firm IntoTheBlock, activity on the Litecoin blockchain has been on the rise lately. On Thursday, June 8th, the…
[ad_1] Investors in South Korea’s booming cryptocurrency market are facing a digital dust storm after a shocking revelation by financial regulators. A joint study by the Financial Supervisory Service (FSS) and the Korea Financial Intelligence Unit (FIU) found that a staggering 70% of shuttered crypto exchanges left their customers hanging, failing to return invested funds. The Hidden Risks Of Lesser-Known Coins This news comes as a gut punch to over 6 million Koreans, roughly 10% of the population, who have dipped their toes into the crypto pool. Unlike their global counterparts, Korean investors are known to dabble in riskier, lesser-known…
[ad_1] HashKey Exchange, the first licensed retail virtual asset exchange registered in Hong Kong, announced its official launch today. Together with executives from the HKSAR government, top-tier banks, insurers, and Big 4 auditing firms, HashKey held the grand launch in Hong Kong. Strictly adhering to the SFC’s user registration and KYC requirements, the HashKey Exchange platform supports USD and HKD fiat deposits and withdrawals, and will initially support trading in BTC/USD, and ETH/USD, with plans to introduce more markets following regulatory guidelines. The exchange, which received approval back in November of 2022 is offering a zero-fee promotion, delivering all users…
[ad_1] A widely followed crypto analyst believes Bitcoin (BTC) may be just days away from an explosive rally based on historic precedence. Pseudonymous crypto trader Rekt Capital tells his 475,500 followers on the social media platform X that Bitcoin could soon enter a phase of the market cycle that in 2020 and 2021 saw massive gains. “Bitcoin is on the cusp of a historic breakout.” Source: Rekt Capital/X The analyst says if Bitcoin confirms a breakout into the historic “parabolic phase” of the cycle, it will have come earlier than in past cycles. “Bitcoin could soon make history. Not just…
[ad_1] Cardano (ADA), the smart contracts platform aiming to dethrone Ethereum, is facing a balancing act. While the token has seen a recent price increase, a potential exodus by major investors casts a shadow of doubt. Related Reading Will Whales Drag ADA Down? On-chain data reveals a cause for concern for Cardano bulls. Addresses holding a significant amount of ADA (between 1 million and 1 billion tokens) have been selling their holdings. This behavior by “whales,” as these large investors are known, can be a bearish indicator, suggesting a loss of confidence in the project’s future. Historically, such selloffs have…
[ad_1] Toncoin (TON) has been one of the best-performing crypto assets in recent times, gaining by over 221% since the start of 2024. The Telegram-integrated token has particularly caught the attention of many investors, after securing a spot in the top 10 cryptocurrencies according to market cap. However, amidst TON’s purple patch, a certain technical indicator has sounded the alarm for a potential decline in the coming weeks. Related Reading Adjusted Sharpe Ratio Indicates Overvaluation For TON: Analyst According to Shiven Moodley, an analyst on data analytics platform CryptoQuant, the comparison of TON’s Adjusted Sharpe Ratio to volatility reveals that…
[ad_1] Friday delivered a double whammy to the Bitcoin market, exposing the cryptocurrency’s sensitivity to the ever-shifting sands of global economics. The price of the digital asset tumbled below $70,000 after a perplexing US jobs report collided with a surprise interest rate cut by the European Central Bank (ECB). The leading crypto asset was caught in the crosshairs of conflicting economic signals and central bank maneuvers. The decline exposed the cryptocurrency’s vulnerability to the ever-changing tides of global finance. Jobs Enigma Jolts Market A seemingly positive US jobs report, boasting robust job growth, initially buoyed sentiment. However, the joy was…