The post Chillguy (CHILLGUY) Memecoin Price Drops 20% Over Plagiarism Claims appeared first on Coinpedia Fintech News Chillguy (CHILLGUY), a popular meme coin that gained massive attention recently, has faced a sharp price drop. The token, popular for its relaxed attitude, has fallen by 20% , sliding from $0.22 to $0.17. This drop comes after claims that its mascot may not be original but copied from a Thai booklet character named RELAXBOY. Is CHILLGUY Copied From Thailand? CHILLGUY has been a trending topic in the crypto world, with its mascot “Just a Chill Guy” winning hearts on the internet. The meme coin saw massive popularity after launching in late 2023. However, new allegations have surfaced, questioning its originality. A Reddit user recently posted an image of a Thai booklet featuring a character called RELAXBOY. The image closely resembles CHILLGUY, sparking debates about possible plagiarism. Some users claimed that the booklet is at least six years old, while others suggested it could be older. The similarity is striking, as the booklet’s character looks nearly identical to CHILLGUY, except with a different face. Legal and Social Media Drama Philip Banks, who claims to have created the original “Just a Chill Guy” meme, has already expressed his dislike for using the meme in promotions or crypto projects. He even issued legal warnings, which had previously affected CHILLGUY’s price. Now, the new plagiarism claims have added more pressure on the token. Some users have suggested the booklet reference could be fabricated using AI, aiming to stir controversy and reignite interest in the token. Regardless of the truth, the ongoing debates have contributed to heightened selling pressure on CHILLGUY, causing a notable decline in its market value. ChillGuy Market Impact As of today, CHILLGUY’s price has dropped to $0.1732 today, down 16.6% in the past 24 hours. Its market value has fallen to $173.58 million. At its peak, CHILLGUY had a market value of $650 million and was listed on major exchanges like Bybit and KuCoin. But the recent plagiarism claims have raised questions about its future.
A recent massive transaction recorded by Whale Alert has set the crypto community abuzz, involving nearly three trillion Shiba Inu (SHIB) tokens, further igniting speculation over market movements. This significant
Runes transactions have significantly decreased, reflecting broader market trends. Experts link the decline to Bitcoin's price volatility and shifting market interests. Continue Reading: Runes Faces Significant Decline as Bitcoin Volatility Grows The post Runes Faces Significant Decline as Bitcoin Volatility Grows appeared first on COINTURK NEWS .
The BTC relief rally in the past few days was halted yesterday as the asset was stopped at $100,000 and pushed south hard. As expected, the altcoins have suffered even more, with substantial price declines from the likes of LINK, AVAX, ADA, SUI, and many others. Bitcoin Stopped at $100K Bitcoin went through a massive correction last week following the latest FOMC meeting. It dumped all the way from $108,000 to $92,000 in a matter of days. It bounced off on Friday and Saturday as the bulls drove it to almost $99,500. However, it failed there and retraced hard once again at the start of the business week toward $92,000 once more. The bulls stepped up again at this point and initiated a notable price increase that pushed bitcoin up to $99,200 on Christmas Eve and almost $100,000 yesterday evening. Once again, though, the cryptocurrency was stopped at this point. The subsequent rejection has driven it south hard, as the asset now struggles below $96,000. Its market capitalization has declined to under $1.9 trillion on CG, while its dominance over the alts has increased to 54.6%. Bitcoin/PriceChart 26.12.2024. Source: TradingView Alts Bleed Out The alternative coins registered some gains in the past few days as well, but red dominates all charts now. Ethereum was stopped at $3,500 and is below $3,400 after a 3.5% daily drop. Similar declines are evident from XRP, DOGE, SOL, BNB, TRX, and TON. Even more painful corrections come from the likes of ADA, AVAX, LINK, SHIB, HBAR, XLM, and DOT, with losses of up to 9%. AAVE has plummeted by 10%, and so have ONDO and HYPE. The cumulative market capitalization of all crypto assets has seen more than $100 billion gone and is down to $3.460 trillion on CoinGecko. Cryptocurrency Market Overview. Source: QuantifyCrypto The post Crypto Market Bleeds Out Again as Bitcoin (BTC) Was Rejected at $100K (Market Watch) appeared first on CryptoPotato .
The sanctioned agents were allegedly generating funds for North Korea’s nuclear weapon development program in Pyongyang.
Astounding amount of meme cryptocurrencies has been withdrawn from top Turkish exchange
The post Why Is Ethereum Down Today? Will It Rise Above $4,000? appeared first on Coinpedia Fintech News The crypto market does not seem to be recovering soon and investors are still waiting for the Santa Rally. The overall crypto cap has reached $3.32 trillion after falling 3.19% since yesterday. Ethereum has also suffered another hit of around 4% and is currently trading at $3,354.5. Even though the market sentiment is in greed, the market metrics say otherwise. Let’s explore why Ethereum is going down today. Analysing ETH Chart As we check the four hourly charts of Ethereum, it becomes clear that the price has received a heavy rejection from $3,524 zone and moving average 50 did not act as a friend. The MA 20 also failed to provide any support. On December 23, we witnessed a death cross over in this time frame that suggested a price dip which we are looking at right now. Source : Tradingview 10.06% fall in the trading activity suggests that traders are keeping distance from ethereum today. Even though the open interest has seen a surge of around a billion dollars, the long/short ratio is at 0.846. Breaking it down we can see that 54.17% of the total open future trades for ETH are shorts, suggesting the traders are indeed bearish for the price movement. Source : Coinglass Exchange Reserves and ETFS Flow According to the data by CryptoQuant, Ethereum exchange reserves are going down. This means investors are moving their assets from exchanges to cold wallets. This signals the rising confidence in the crypto and an upcoming price rise. At the time of writing, the exchanges only hold 19.05 million ETH tokens. Source : CryptoQuant Farside data revealed that on the last open day of ETFS, i.e. on December 24, they only witnessed an inflow of $53.6 million and there was no outflow. Blackrock’s ETHA received the highest inflow of $43.90 followed by ETHW by Bitwise – $6.19 million and Fidelity’s FETH – $3.45 million. What to expect? Even though the market feels it is going into a bearish mode however, the drop in exchange reserves clearly highlight investors’ confidence. This price might be going down however the momentum is building slowly. People will keep wondering why is Ethereum down today and the market maker will make money from their lack of knowledge. As we discussed in our Bitcoin analysis earlier, the market takes the traders by surprise and when people are bearish, crypto will start to move in the other direction. Only smart investors can predict market movement and play accordingly.
On Christmas Eve, Justin Sun made a significant move, transferring 70,182 ETH (valued at $244.9 million) to HTX. This transfer included 42,905 ETH unstaked from Lido Finance and 27,277 ETH withdrawn from Etherfi. Since November 10, Sun has deposited a total of 179,101 ETH, worth around $645 million, into HTX. Notably, his deposits have been timed close to local market peaks, with an average price of $3,601 per ETH. Justin Sun ( @justinsuntron ) just transferred 70,182 $ETH ($244.9M) to #HTX on Christmas Eve, including 42,905 ETH unstaked from Lido Finance and 27,277 ETH from Etherfi. Since Nov 10, he has deposited 179,101 $ETH ($645M) to HTX at an average price of $3,601, often near local… https://t.co/pFY9n2yI8k pic.twitter.com/QhMcgkHeXS — Spot On Chain (@spotonchain) December 25, 2024 In addition to his recent transfer, Sun still holds a sizable stash of Ethereum-related assets. He maintains 106,905 stETH (worth approximately $372.4 million) and 56,277 ETH (valued at $195.8 million). Out of these, 25,000 ETH (worth around $87 million) is in the process of being unstaked from Etherfi. Meanwhile, a prominent whale, believed to be associated with Nexo, deposited 4,946 ETH (roughly $17.2 million) into Binance within the past hour. Since December 2, Nexo has deposited a substantial 114,262 ETH (valued at $423.3 million) into the exchange, with an average price of $3,705 per ETH. A whale(related to #Nexo ) deposited 4,946 $ETH ($17.2M) to #Binance again in the past hour. Since Dec 2, #Nexo has deposited a total of 114,262 $ETH ($423.3M) into #Binance at an average price of $3,705. https://t.co/c6431LYjTr pic.twitter.com/F4ISBhVisb — Lookonchain (@lookonchain) December 25, 2024 In other Ethereum-related news, the Ethereum ETFs saw significant inflows on December 24, with a net flow of 45,140 ETH (worth $157.7 million). The iShares (BlackRock) Ethereum ETF saw the bulk of this, receiving 26,654 ETH, valued at $93.13 million. The fund now holds over 1 million ETH, amounting to $3.65 billion. Dec 24 Update: 10 #Bitcoin ETFs NetFlow: -2,306 $BTC (-$226.3M) #Fidelity outflows 1,573 $BTC ($154.29M) and currently holds 203,194 $BTC ($19.94B). 9 #Ethereum ETFs NetFlow: +45,140 $ETH (+$157.72M) #iShares (Blackrock) inflows 26,654 $ETH ($93.13M) and currently holds 1,044,156… pic.twitter.com/aomD8nhdx8 — Lookonchain (@lookonchain) December 24, 2024 These transactions signal growing institutional interest in Ethereum and hint at strategic moves from major players in the crypto space. Disclosure: This is not trading or investment advice. Always do your research before buying any cryptocurrency or investing in any services. Follow us on Twitter @nulltxnews to stay updated with the latest Crypto, NFT, AI, Cybersecurity, Distributed Computing, and Metaverse news ! Image Source: nexusplexus/ 123RF // Image Effects by Colorcinch
The chief executive of Binance’s Thai arm has encouraged the Bank of Thailand to consider former prime minister Thaksin Shinawatra’s proposal for a pilot Bitcoin payment project so the nation does not get left behind. According to the Bangkok Post , Thailand is working towards making the ex-Prime Minister’s suggestion for a Bitcoin ( BTC ) payment pilot project a reality. Binance’s Thai arm will reportedly support the pilot project that aims to establish Phuket as a Bitcoin sandbox for tourism. “Given our country’s reliance on tourism and foreign inflows, integrating cryptocurrencies into Phuket’s economy could align well with Thailand’s strategic strengths, potentially attracting tech-savvy visitors and investors.” Nirun Fuwattananukul, chief executive of Gulf Binance, a joint venture between Binance Thailand and Gulf Innova. Fuwattananukul viewed the idea as a positive step towards boosting Thailand’s position in the global economy as more and more regions like the U.S . and Japan are looking towards making use of Bitcoin as an alternative currency. He believes Thailand “must not be left behind” in regard to crypto adoption. Though unlike those countries, Thailand is bound by government law to restrict payments to only its local currency. Therefore, the Bitcoin pilot project will give the central bank a chance to assess the risks and benefits associated with cryptocurrency. “Introducing Bitcoin or other cryptocurrencies as a payment method could have implications for monetary flow and the Bank of Thailand’s ability to manage economic stability,” said Fuwattananukul. You might also like: 10m Thai Baht donated by Vitalik Buterin to support Khao Kheow Open Zoo The Bank of Thailand holds jurisdiction over regulating the payment systems in Thailand, while digital assets fall under the scope of the Thai Securities and Exchange Commission . According to the Gulf Binance head, both the central bank and SEC will need to work together to align their regulatory frameworks and coordinate in seeing this pilot project through. Key considerations would include consumer protection, anti-money laundering measures, and the potential impact on Thailand’s financial stability. “The regulatory framework would also need to ensure that crypto payments operate within the country’s existing monetary policies and currency controls,” he said. As previously reported by crypto.news in November, Binance has been eyeing Thailand as a key market for pushing widespread crypto adoption as the country progressively becomes more open to crypto regulations. Binance chief marketing officer Rachel Conlan said Thailand was among the top 20 Binance markets, with local crypto penetration estimated at 12%, double the global average of 6%. You might also like: Binance bets on Thailand as region signals supportive crypto approach
The chief executive of Binance’s Thai arm has encouraged the Bank of Thailand to consider former prime minister Thaksin Shinawatra’s proposal for a pilot Bitcoin payment project so the nation does not get left behind. According to the Bangkok Post,…