[ad_1] Ethereum price extended its downside correction below the $3,800 support. ETH is now approaching the $3,720 support and might aim for a fresh increase. Ethereum extended its decline after it failed to stay above the $3,880 zone. The price is trading below $3,880 and the 100-hourly Simple Moving Average. There is a key bearish trend line forming with resistance at $3,800 on the hourly chart of ETH/USD (data feed via Kraken). The pair could continue to move down if it breaks the $3,720 support. Ethereum Price Dips Further Ethereum price started a downside correction below the $3,880 support zone,…
Author: dfrancis36
[ad_1] The proportion of traditional hedge funds investing in crypto assets declined in the past 12 months though the long-term outlook remains positive, according to a new report by Big Four accounting firm PricewaterhouseCoopers (PwC). The percentage of funds with crypto exposure fell to 29% from 37% in 2022, according to the Global Crypto Hedge Fund Report. No traditional hedge funds plan to decrease their exposure this year, it said. More than a third (37%) of funds without crypto exposure said they are curious, but are waiting for the asset class to mature further. That’s up from the 30% reported…
[ad_1] Looking for the next cryptocurrency to hit $1 in 2024? With robust trading volumes in the crypto market, savvy traders are eyeing the best penny cryptos to buy right now. Identifying the next crypto to hit $1 involves considering factors like market capitalization, current price, and the problems each project aims to solve. In this article, we’ve highlighted several cryptocurrencies at various stages of their journey. We’ve identified the top six cryptos likely to hit $1 in 2024 and categorized them into high-cap and low-cap coins. Best Low-Cost Cryptos to Buy Now While no one can definitively tell you…
[ad_1] Ouinex, a blockchain firm led by FX industry veteran Ilies Larbi, announced today (Wednesday) its partnership with United Fintech-backed Netdania to launch a cryptocurrency trading platform.Enhancing Crypto Exchange’s CapabilityAccording to the press release shared with Finance Magnates, Netdania will provide the interface for the cryptocurrency exchange, while Ouinex will strengthen it with its backend technology.“Our partnership with Netdania reflects Ouinex’s dedication to innovating secure trading solutions in the cryptocurrency sector,” Larbi, Co-founder and CEO of Ouinex, said. “The platform will transform expectations regarding functionality and security in crypto trading. We are bringing the best of TradFi Tech to Web3.”Ouinex,…
[ad_1] Semler Scientific, Inc. (Nasdaq: SMLR), known for its healthcare solutions to combat chronic diseases, has announced a significant shift in its treasury strategy. The company’s board of directors has adopted Bitcoin as its primary treasury reserve asset, alongside a substantial purchase of 581 Bitcoins for an aggregate amount of $40 million, inclusive of fees and expenses.JUST IN: Healthcare product manufacturer Semler Scientific purchases 581 #Bitcoin for $40 million 👀 pic.twitter.com/zYsVgN19gL— Bitcoin Magazine (@BitcoinMagazine) May 28, 2024 “Our bitcoin treasury strategy and purchase of bitcoin underscore our belief that bitcoin is a reliable store of value and a compelling investment,”…
[ad_1] Bitget has been publishing verifiable data since December 2022. The recent proof of reserves shows USDC at a reserve ratio of 2604% The exchange’s reserve ratios have consistently exceeded 200% in the past seven months. Coinjounal can exclusively reveal that Bitget, a leading platform for copy trading and crypto derivatives, has released its monthly Proof of Reserves (PoR) showing an unmatched total reserve ratio of 223%, more than twice the industry average of 100%. The proof of reserves demonstrates Bitget’s dedication to radical transparency. The exchange has been publishing verifiable data since December 2022 with the goal of fostering…
[ad_1] Payments giant PayPal says that its stablecoin, PayPalUSD (PYUSD), is expanding onto the blockchain of smart contract platform Solana (SOL). In a new company press release, PayPal says that the dollar-pegged crypto asset PYUSD – which launched in August 2023 in collaboration with the Paxos Trust Company – is now available on Solana, making it cheaper and faster to use. “The Solana blockchain is known for processing massive amounts of transactions at high speeds with extremely low costs, providing significant benefits for commerce use cases. As the most used blockchain for stablecoin transfers, according to data from blockchain analytics…
[ad_1] For the past week, a controversial celebrity token trend has emerged. Mainstream media figures began launching Solana-based memecoins and seemingly showing interest in cryptocurrencies. Related Reading The latest star to join the celebrity token frenzy is Australian rapper Iggy Azalea, who saw a controversial launch similar to Caitlyn Jenner’s JENNER token. Who Is Solana? On Monday, Azalea surprised the crypto community by showing interest in cryptocurrencies. The rapper and model posted on X asking, “Who is Solana? I don’t know that bitch.” The post has gathered over 1.8 million views and caused controversy in different communities. “Stan Twitter” interpreted…
[ad_1] Riot Platforms Inc. (NASDAQ:RIOT) has made an unsolicited $950 million bid to acquire Bitfarms Ltd. (NASDAQ:BITF), following the smaller Bitcoin miner’s rejection of a previous takeover proposal last month. Riot offered $2.30 per share in cash and stock for Bitfarms, representing a 20% premium over Bitfarms’ trading price before Riot’s initial April offer, which was privately submitted to the board. Riot has accumulated a 9.25% stake in Bitfarms, becoming its largest shareholder, according to a statement on Tuesday that confirmed an earlier Bloomberg News report. Citing recent management turnover at Bitfarms as evidence of corporate governance issues, Riot announced…
[ad_1] The Texas State Securities Board has taken action against Arkbit Capital, issuing a cease and desist order for its involvement in alleged fraudulent crypto cloud mining activities. Led by Financial Examiner Alexis Cantrell, the board’s investigation revealed purported deceptive practices by Arkbit Capital and its associated entities.Allegations of Deceptive PracticesAmong the accusations, Arkbit Capital stands accused of employing deceptive image and video manipulation tactics to promote its investment offerings. The company, along with its affiliates Arkbit Capital Holdings, ABC Holdings LLC, and ABC Mining, allegedly misrepresented its operations, claiming to run Arkansas-based data centres for cryptocurrency cloud mining.Investors were…