[ad_1] A widely followed cryptocurrency analyst and trader is warning that a Solana (SOL)-based memecoin looks primed for an epic collapse. The analyst pseudonymously known as Bluntz tells his 260,700 followers on the social media platform X that dogwifhat (WIF) could lose around 70% of its value from current levels. The crypto strategist says that WIF is in the midst of a C-wave correction that could send the altcoin to as low as $1. Bluntz practices the Elliott Wave theory, a technical analysis approach that attempts to predict future price action by following crowd psychology that tends to manifest in…
Author: dfrancis36
[ad_1] During this bull cycle, the crypto market has been surfing off Bitcoin’s crest and enjoying the bullish momentum. However, investors hope for a seismic explosion to impulse Altcoins to new highs. Related Reading As the crypto industry awaits, online reports revealed that, since FTX’s fall, only eight altcoins have hit a new all-time high (ATH) against Bitcoin. A crypto analyst shared his thoughts on the matter. Altcoins Underperforming Against Bitcoin This Cycle On Friday, Crypto analyst Miles Deutscher shared an interesting fact about the crypto market. Since November 2022, just eight altcoins have broken their previous ATH against the…
[ad_1] Bitcoin’s price has maintained a remarkably tight trading range near $68,000 following the U.S. Memorial Day holiday, with a slight dip approaching the week’s low in Friday’s morning trading hours. At 11:45 am ET, bitcoin was priced at $67,300, down 1% over the past 24 hours and 2% from its peak two hours earlier at $69,000. The broader CoinDesk 20 also saw a 1.1% decline over the last day. Despite this, May has been a positive month for Bitcoin, with an 11% increase since starting around $60,000. However, this growth pales in comparison to the CoinDesk 20’s 20% surge,…
[ad_1] More than $18 billion worth of cryptocurrency has shifted to a new platform type offering rewards for locking up tokens, a scheme that analysts warn poses significant risks for users and the broader crypto market.The increasing popularity of “re-staking” highlights the rising risk appetite in crypto markets as prices surge and traders chase higher yields. Bitcoin, the leading cryptocurrency, is nearing all-time highs, while ether, the second largest, has risen over 60% this year.At the forefront of the re-staking trend is Seattle-based startup Startup A company operating within its first stage of investing is known as a startup. While…
[ad_1] Today, large Japanese cryptocurrency exchange DMM Bitcoin reported a significant security breach resulting in the loss of 4,502.9 BTC, currently valued at over $300 million. The incident occurred at approximately 1:26 p.m. and involved unauthorized access to the exchange’s wallet.In an official statement, DMM Bitcoin said that measures have been taken to prevent further unauthorized access by imposing restrictions on certain services in attempt to enhance security. These restrictions include suspending new account openings, processing cryptocurrency withdrawals, and accepting new buying orders for spot trading. However, existing limit orders and withdrawals of Japanese Yen may experience delays.DMM Bitcoin said…
[ad_1] A new altcoin connected to a viral game on the encrypted messaging platform Telegram printed fresh all-time highs this week after surging by nearly 160%. NOT is a community token for the popular Telegram-based tap-to-earn mining game Notcoin that began trading on May 16th when Binance rolled out support for the asset via its Launchpool platform, which lets users stake coins to farm new assets. Notcoin says it already has more than 1.6 million on-chain holders, more than the memecoins Shiba Inu (SHIB), Bonk (BONK) and Pepe (PEPE). The token is issued on The Open Network (TON) blockchain, which…
[ad_1] Crypto analyst Egrag Crypto has provided another bullish narrative for the XRP price. This time, he outlined two scenarios that could occur and cause the crypto token to experience a breakout, potentially sending it as high as $7.5. This comes with the recent revelation that XRP’s Relative Strength Index (RSI) has reached its lowest ever. Time For An XRP Price Breakout Egrag Crypto shared a chart in an X (formerly Twitter) post that showed that the crypto token could rise to $7.5 when it accomplishes the breakout, which the crypto analyst claimed is imminent. Egrag highlighted a “White Triangle”…
[ad_1] Cryptocurrency exchange Bybit has confirmed reports of an executive reshuffle following complications with the Notcoin launch, which led to $23 million in compensation being distributed to 320,000 users. The news, initially reported by Wu Blockchain, indicated that several executives had “voluntarily resigned” and that Bybit had hired new technical and spot managers. A Bybit spokesperson told CoinDesk, “Bybit regularly updates its organizational structure to align with our strategic goals. The affected team members are not leaving the company but have taken up other internal roles.” Notcoin, a game based on the Telegram instant messaging platform, is one of the…
[ad_1] Tether Holdings, the stablecoin issuer, has acquired a substantial stake in Bitdeer Technologies Group, a US-listed Bitcoin mining company owned by Chinese billionaire Jihan Wu. This acquisition involves a US$100 million investment, with an option to purchase an additional US$50 million in shares within the upcoming year.Investment Facilitates Expansion in MiningAccording to Bitdeer’s statement today (Friday), the agreement entails a private placement of 18.6 million Class A ordinary shares, generating US$100 million in gross proceeds. Additionally, there is a provision for a warrant to acquire up to five million additional shares at US$10 per share. The private placement concluded…
[ad_1] Yesterday, Nostr users from around the US came together at New York City’s premiere Bitcoin bar PubKey for Nostr Village, a mini-conference focused on the open protocol that enables global, censorship-resistant social media and more.Who’s coming to #NostrVillage tomorrow?It’s a day of censorship resistant value for value creative expression and zaps, and it’s all happening at PubKey starting at 2 PM.Meet your favorite nostriches, and ask anything!Can’t make it for the whole event? Come by at 6 PM for… pic.twitter.com/SkCecbzJdR— PUBKEY (@PubKey_NYC) May 30, 2024 The name of the conference included a nod to the neighborhood in which PubKey…