Binance settled with the U.S. DOJ and CFTC, agreeing to pay a hefty fine. Continue Reading: Binance Agrees to Pay Billion-Dollar Fine and Implements New Oversight
A widely followed cryptocurrency analyst and trader is turning bullish on a decentralized wireless network project. The analyst pseudonymously known as Bluntz tells his 258,700 followers on the social media platform X that key indicators suggest Helium (HNT) is about to have a massive breakout. Bluntz uses the Elliott Wave theory in his analysis, which The post ‘This One Is Going To Be a Banger’: Low-Cap Altcoin Flashing Bullish Signal, According to Top Crypto Analyst appeared first on The Daily Hodl .
Central banks are in the midst of a gold buying spree, according to new numbers from the World Gold Council (WGC). The organization says central banks added $24 billion of gold, weighing 290 tonnes, to their coffers in the first quarter of this year. That’s the strongest level of net demand for any quarter on The post World’s Central Banks Buy $24,000,000,000 in Gold in Three Months, Setting New Record: Report appeared first on The Daily Hodl .
The Fed will likely cut rates later this year, which will bolster Bitcoin’s price, predicts CoinShares.
Harvest CEO plans to make Bitcoin ETFs available to Chinese investors. ETF Connect could facilitate access to these funds for mainland investors. Continue Reading: Harvest CEO Aims to Open Bitcoin ETFs to Mainland Chinese Investors
XRP, the native token of Ripple, finds itself caught in a tug-of-war between surging social media interest and a price that refuses to ignite. While online chatter paints a picture of a vibrant community, the token’s value treads water, leaving investors to question whether the buzz translates to bullish momentum. Related Reading: $20 On The Horizon For XRP? Unpacking A Potential 650x Surge And What It Means Social Media Frenzy Fuels XRP Discussions A recent tweet by Santiment, a crypto market intelligence platform, highlighted a surge in XRP-related discussions. This increased chatter could be linked to the US Securities and Exchange Commission’s (SEC) recent stance on Ripple Labs’ upcoming stablecoin, which the SEC considers an “unregistered crypto asset.” 🗣️ #Monero is being discussed at an abnormally high rate due to the announcement that #LocalMonero is sunsetting as governments continue cracking down on $XMR and other privacy focused assets. 🗣️#XRPLedger is also seeing a high rate of discussion due to $XRP price volatility,… pic.twitter.com/gaV3ywP2up — Santiment (@santimentfeed) May 9, 2024 While the regulatory heat may have sparked conversation, it hasn’t translated to a price surge. In fact, XRP’s value dipped slightly in the past 24 hours. Investors Accumulate Despite Price Stagnation Interestingly, despite the lackluster price action, data from Santiment suggests investors might be accumulating XRP. The platform’s “Exchange Outflow” metric remains high, indicating a movement of XRP away from exchanges, possibly towards private wallets. This suggests a potential long-term bullish sentiment among some investors. Ethereum's exchange outflow maintains steady uptrend. Source: Santiment Technical Indicators Cast A Shadow However, not all signs are positive. Popular crypto analyst Cryptoes noted on Twitter that XRP’s price is precariously perched right below its 21-day moving average, a technical indicator often interpreted as a bearish signal. XRP is now trading at $0.51. Chart: TradingView Support Levels And The Downward Spiral If the bearish signals hold true, XRP could plummet to its support level near $0.50. A break below this crucial point might trigger a further cascade, dragging the price down to $0.47. This potential decline aligns with another concerning trend – XRP’s Network Growth. Related Reading: Wells Notice Wallop: Robinhood Bleeds 164 Million Dogecoin In Mass Exodus According to Santiment, the number of new addresses created for XRP transfers has been declining over the past month. This could indicate a shrinking user base, raising questions about XRP’s long-term adoption. The Road Ahead The current situation surrounding XRP is an enigma. On the one hand, the social media buzz and investor accumulation paint a picture of a project with dedicated followers. On the other hand, the technical indicators and declining network growth raise concerns about the token’s immediate future. Featured image from Peapix, chart from TradingView
The Ethereum (ETH) market is buzzing with activity after a whale (an investor with significant holdings) made a splash by withdrawing a whopping $18 million worth of ETH from Binance, a leading cryptocurrency exchange. Related Reading: Transaction Fees To The Rescue! Bitcoin Miners Find Solace In Network Activity This move, meticulously tracked by blockchain analysis
Binance and KuCoin has secured the registration with Indian Financial Intelligence Unit (FIU) to operate in the country The post Binance and KuCoin Secure Registration With Indian FIU appeared first on Latest News and Insights on Blockchain, Cryptocurrency, and Investing .
Olaoluwa Osuntokun, co-founder and CTO of Lightning Labs, recently executed the first successful mainnet multi-hop asset payment using Taproot Asset channels, marking a new development in asset transfer capabilities over the Lightning Network. Asset Transfer Achieved on Lightning Network Using Taproot Channels The transaction, conducted by Osuntokun, involved a multi-hop payment using a digital asset
US lawmakers introduce a bipartisan bill to aid AI export controls. The bill aims to navigate legal challenges in future AI export regulations. Continue Reading: US Lawmakers Announce Bipartisan Bill for AI Export Controls