[ad_1] A widely followed crypto analyst is suddenly turning bullish on one low-cap Ethereum (ETH)-based altcoin project. Crypto strategist Michaël van de Poppe tells his 719,400 followers on the social media platform X that Skale Network (SKL), an Ethereum sidechain, could soar 150% from its current value. “SKL is looking great. Did reject at the first resistance zone, but is on edge of a significant breakout. This breakout is likely heading to $0.20 in the coming months.” Source: Michaël van de Poppe/X Looking at his chart, the trader is predicting SKL will soon flip the key resistance level of $0.09…
Author: dfrancis36
[ad_1] As the defunct cryptocurrency exchange Mt. Gox prepares to distribute around $9 billion worth of Bitcoin, some investors are worried about the potential impact on prices. However, industry experts and major creditors believe that any short-term volatility will be outweighed by BTC’s long-term bullish prospects. With the approval of US spot Bitcoin exchange-traded funds (ETFs), many market experts anticipate that the market will absorb the newly available tokens. Bitcoin Optimism Among Market Participants As reported by our sister website, Bitcoinist, Mt. Gox’s Japanese trustee, Nobuaki Kobayashi, recently announced plans to start distributing Bitcoin and Bitcoin Cash to creditors. The…
[ad_1] Immutable’s Guild of Guardians Avatars overtook NodeMonkes to claim the top spot on CryptoSlam’s daily non-fungible token sales charts on Thursday. The Immutable game-linked collection led NFT sales with a daily volume of $828,697, representing a 19% increase from $696,862 the previous day. NodeMonkes, a Bitcoin-based collection that topped Wednesday’s sales, fell to third place with sales dropping to $756,950 from $935,770. Earlier this week, NodeMonkes became the 26th best-selling collection in the industry, surpassing $228 million in all-time sales. DMarket, a Mythos collection for in-game items from popular online games, secured second place with $774,176 in sales, reinforcing…
[ad_1] The law enforcement agencies from Austria, Cyprus, and Czechia uncovered a cryptocurrency scam that defrauded investors out of millions early this month. This international collaboration, supported by Europol and Eurojust, led to the arrest of six Austrian suspects and the seizure of substantial crypto assets worth over EUR 500,000 and EUR 250,000 fiat currency. According to Europol, the fraudsters launched this scam in December 2017, presenting themselves as a legitimate online trading company with a new cryptocurrency offering. They managed to collect millions from investors by promising a revolutionary new cryptocurrency backed by unique software and an algorithm. Investors…
[ad_1] Introduction: The latest Q1-2024 Hashrate Index Report by Luxor Technology delves into the Bitcoin mining sector’s performance after the Fourth Bitcoin Halving. This report offers critical insights into key metrics such as Bitcoin Hashrate, Hashprice, Hashrate Forwards, and Bitcoin Mining Stocks, highlighting the Bitcoin mining industry’s adaptability – and also the challenges that lie ahead for miners in a 3.125 BTC block subsidy world. Bitcoin Hashprice and Hashrate Fluctuate Now that the Fourth Halving has passed, Bitcoin miners have their eyes on two metrics in particular: hashprice and network hashrate. Hashprice is a measure of how much revenue miners…
[ad_1] A widely followed analyst and trader is predicting triple-digit gains for a leading memecoin while updating his outlook on three other crypto assets. The trader pseudonymously known as Altcoin Sherpa tells his 216,400 followers on the social media platform X that Dogecoin (DOGE) potentially surging to $0.40, about 147% above the current level, “is one of the safest trades you can make this cycle in my opinion.” On the reasons informing his bullish thesis for the largest memecoin by market cap, the pseudonymous analyst says, “- Retail is eventually going to buy it up. – All it takes is…
[ad_1] Cardano (ADA), the smart contract platform, has been facing a rough patch recently. While the broader DeFi sector has seen an uptick in DEX volumes, Cardano’s Total Value Locked (TVL) has plummeted, raising concerns about the health of its ecosystem. Related Reading DeFi Activity And NFT Market Slump Despite the surge in DEX volumes across the crypto landscape, Cardano’s TVL has witnessed a significant decline, dropping from $430 million to $230 million, according to data from Artemis, a leading blockchain data provider. This suggests a lack of interest in dApps built on the Cardano network, potentially hindering its long-term…
[ad_1] Renowned Portuguese footballer Cristiano Ronaldo has announced a collaboration with Binance for the launch of his fourth non-fungible token collection. This new collection, set to debut on May 29 on the Binance NFT Marketplace, will celebrate highlights from Ronaldo’s storied football career. Ronaldo expressed excitement about this project, emphasizing his journey across the globe and his tenure with some of the world’s most prestigious football clubs. Details of the New Collection The exact number of NFTs in this collection remains undisclosed, and pricing details have not yet been revealed. It is known that each “Normal NFT” will have a…
[ad_1] Bitcoin mining firm Riot Platforms has proposed to acquire its rival Bitfarms for US$2.30 per Bitfarms common share. This acquisition could reportedly make Riot the largest publicly listed Bitcoin miner globally. The deal offers Bitfarms’ shareholders a substantial premium despite the volatile cryptocurrency market.According to the press release, Riot’s proposal offers a 24% premium to Bitfarms’ one-month volume-weighted average share price. With approximately US$950 million in total equity value, the acquisition aims to enhance Bitfarms’ financial strength and promises investors better returns from future growth opportunities. Riot mentioned that it had acquired a 9.25% stake in Bitfarms and is…
[ad_1] What’s MEV?For the uninitiated, Maximal Extractable Value (MEV) involves various techniques used by market actors to capture additional value by exploiting price inefficiencies in blockchain transactions.One naive form of MEV is called “transaction sniping.”Most recently, manifestations of this phenomenon have begun populating your local Bitcoin memepools because of ordinals trading. Without going into too much detail, the way on-chain trading currently works is through the use of pre-signed Bitcoin transactions (PSBTs). The concept is simple: some users list pictures on a marketplace by crafting a transaction with the details and the price they would like to sell it at.…