A closely followed crypto trader believes that Bitcoin (BTC) and two altcoin projects are gearing up for massive rallies. Pseudonymous analyst Inmortal tells his 213,200 followers on the social media platform X that, based on the historical duration of market cycles, Bitcoin has much higher to go. “We still have room for 500 more green The post Trader Says Bitcoin (BTC), Chainlink (LINK) and One Ethereum Rival Setting Up for Rallies appeared first on The Daily Hodl .
Glassnode reports Ethereum lags behind Bitcoin in investor interest. Bitcoin ETF approvals significantly impact market movements. Continue Reading: Insights on Bitcoin and Ethereum’s Current Market Positions
Retail trading platform Robinhood has announced that its crypto revenue grew by 232% in the first quarter. Despite this success, Robinhood faces potential enforcement action by the U.S. Securities and Exchange Commission (SEC), alleging that some of the cryptocurrencies offered on its platform are securities. Crypto Drives Robinhood’s Profitable Q1 Retail trading platform Robinhood Markets
Dogecoin remains prominent due to sustained market interest. Current trends suggest a potential decline in DOGE's value. Continue Reading: Dogecoin’s Market Position and Price Trends
In a year full of global elections, the crypto industry remains expectant and critical of every candidate’s stance on cryptocurrencies. The US presidential elections could pose a turning point for regulations and adoption that could affect the industry worldwide. On Wednesday, Donald Trump, former US president and Republican candidate, stated his support for the industry and criticized Biden’s administration for its stance on digital assets. MAGA (TRUMP), the Trump-inspired memecoin, saw its price skyrocket 63% in the following hours. Related Reading: Crypto Traders Discuss Why Memecoins Have Been 2024’s Most Profitable Narrative Trump’s Stance On Crypto The Republican candidate held a gathering on Wednesday at his Mar-a-Lago resort in Palm Beach, Florida. Holders of NFTs bearing Trump’s name and likeness attended the Trump Cards NFT Gala. During this event, the former US president strongly criticized Biden’s administration and its hostility towards the sector. He revealed he is “fine” with crypto and wants to make it a “solid” industry. Trump claimed he’s the best option for those who are in favor of cryptocurrencies: (…) I’m fine with it. I want to make sure it’s good and solid and everything else. But I’m good with it. And if you want, if you like crypto in any form, and it comes in a lot of different forms, if you’re in favor of crypto, you better vote for me. Moreover, the Republican candidate asserted that “crypto is moving out of the US because of the hostility towards it,” something he alleges he doesn’t want to continue and promises to stop. i asked donald trump how he’s going to keep crypto businesses in america. sounds bullish 🇺🇸 pic.twitter.com/rvuztPmQ8P — Malcolm (33.3%) (@macdegods) May 9, 2024 When asked what he would do to stop the exodus of digital asset businesses, he stated that to embrace them, they would have to let them be in the country. To achieve this, the candidate promised a more welcoming regulatory framework for crypto. As part of his jab at the current administration, Trump mimicked US President Joe Biden, claiming he would be clueless if asked about cryptocurrencies. He further added, “The Democrats are very much against it.” TRUMP Flips BODEN As Price Soars After Trump’s declarations, two memecoins inspired by the politicians saw a price reaction. Jeo Boden (BODEN) soared 23.5% in the following hour, going from $0.34 to $0.42. Since then, the price has retraced to hover between the $0.35-$0.36 range. BODEN is trading at $0.3492, representing a 15.1% increase in the last 24 hours. The token’s daily trading volume also saw a significant 35.7% surge, with over $20 million traded in the past day. Despite benefiting from the Republican candidate’s jab at its inspiration, BODEN Still displays red numbers in the longer timeframes, with a 29.9% and 59.8% weekly and monthly decrease. BREAKING: $TRUMP (@MAGAMemecoin) FLIPS $BODEN (@boden4pres) IN MARKET CAP pic.twitter.com/eCTwux4ZC9 — DEGEN NEWS 🗞️ (@DegenerateNews) May 9, 2024 As a result, TRUMP’s $252 million market capitalization flipped BODEN’s $239 million. The Trump-inspired token became the 14th largest memecoin by market capitalization, per CoinGecko data. Related Reading: EU Watchdog Considers Crypto Integration Into $12.88 Trillion Investment Market Moreover, TRUMP seemingly won this round with crypto investors, which rallied 63% after Trump’s statement. The token surged from $4.2 to $7.1 in the following hours before retracing to the $5.3 level. TRUMP trades at $5.43 at the time of writing, representing a 36.2% increase in the last 24 hours. TRUMP's performance in the 1-week chart. Source: TRUMPUSDT on TradingView Featured Image from Unsplash.com, Chart from TradingView.com
The Shiba Inu team has issued a crucial warning to its community, alerting them to the presence of fraudulent groups seeking to exploit the trust of SHIB community members for personal gain. This cautionary message from the team arrives as the cryptocurrency scored another significant listing milestone. SHIB Team Cautions Against Scams The Shiba Inu
A drop in the price of Bitcoin coupled with reduced mining rewards means fewer miners and a less robust network—for now, at least.
Canada’s Financial Transactions and Reports Analysis Centre (FINTRAC) has imposed a fine of C$6 million on crypto exchange Binance for failing to comply with anti-money laundering and terrorist financing laws. This penalty, equivalent to approximately $4.4 million, was levied after Binance failed to register as a foreign money services business and neglected to report over
Government official says Binance's bribery allegations are baseless and a diversionary tactic
No other crypto firm has gone to war with the SEC as Ripple has. Unfortunately, the legal face-offs are not over yet. The SEC vs Ripple cases still continue in the courts today, and just recently, the SEC has hinted at a new possible avenue to sue the XRP issuer. The XRP issuer has been