Day: January 24, 2023

Key Upside Break Could Trigger Rally To $0.5

Ripple is rising steadily above the $0.380 resistance zone against the US Dollar. XRP price could rise further if it clears the $0.4320 resistance zone. Ripple is currently rising above the $0.38 resistance zone against the US dollar. The price is now trading above $0.380 and the 100 simple moving average (4-hours). There is a key bullish trend line forming with support near $0.3960 on the 4-hours chart of the XRP/USD pair (data source from Kraken). The pair could rally further if there is a clear move above the $0.4320…

BlockFi to sell $160M in Bitcoin miner-backed loans: Report

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Bankrupt crypto lending firm BlockFi has plans to sell off $160 million in loans backed by around 68,000 Bitcoin mining machines as part of bankruptcy proceedings, according to reports. In a Bloomberg report on Jan. 24, two people โ€œfamiliar with the matterโ€ claim that BlockFi started the process of selling off the loans last year. The crypto lender filed for Chapter 11 bankruptcy in Nov. 2022,ย citing its significant exposure to the now-defunct crypto exchange FTX for its downfall. However, some of these loans have already defaulted since then and could…

Wormhole hacker moves $155M in biggest shift of stolen funds in months

The hacker behind the $321 million Wormhole bridge attack has shifted a large chunk of stolen funds, with transaction data showing that $155 million worth of Ether (ETH) was transferred to a decentralized exchange (DEX) on Jan 23. The Wormhole hack was the third largest crypto hack in 2022, after the protocolโ€™s token bridge suffered an exploit on Feb. 2, 2022, that resulted in the loss of 120,000 Wrapped ETH (wETH) around worth $321 million. According to the transaction history of the hackerโ€™s alleged wallet address, the latest activity shows…

Ethereum Price Forms Bullish Continuation Pattern and Could Rally Again

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Ethereum is consolidating gains above $1,600 against the US Dollar. ETH is showing positive signs and might start another increase above $1,650. Ethereum is showing positive signs above the $1,620 and $1,600 levels. The price is now trading above $1,600 and the 100 hourly simple moving average. There is a key bullish flag forming with resistance near $1,640 on the hourly chart of ETH/USD (data feed via Kraken). The pair could rally again if it clears the $1,640 and $1,650 resistance levels. Ethereum Price Could Pop Higher Ethereum price started…

Maximizing Returns: Why Orbeon Protocol (ORBN), Litecoin (LTC), and Cosmos (ATOM) Should Be on Your Radar in January

Place/Date: – January 24th, 2023 at 5:17 am UTC ยท 3 min read Source: Orbeon Protocol Altcoins tend to outperform Bitcoin (BTC) during bullish cycles, leading to greater potential returns for those who enter the market at the right time. With 2023 upon us, Orbeon Protocol (ORBN), Litecoin (LTC), and Cosmos (ATOM) should be on investorsโ€™ radar. With Orbeon Protocol (ORBN) leading the charge in the presale, investors could be onto something here. Litecoin (LTC) Litecoin (LTC) isnโ€™t new to the cryptocurrency world, but itโ€™s worth keeping an eye on…

Genesis eyes fast resolution to creditor disputes and bankruptcy exit in May

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A lawyer for bankrupt crypto lending firm Genesis is optimistic the firm can resolve its creditor disputes as early as this week and the company could come out of Chapter 11 proceedings by late May. Genesisโ€™ lawyer Sean O’Neal made the comments at a Jan. 23 initial hearing at the United States Bankruptcy Court for the Southern District of New York, according to a Reuters report. He added Genesis had “some measure of confidence” it would resolve disputes with creditors by the end of the week and, if needed, would…

Crypto Adoption Hits New Milestones โ€” Global Crypto Owners Reached 425 Million in 2022 โ€“ Featured Bitcoin News

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Crypto adoption achieved new milestones in 2022, with the number of crypto owners reaching 425 million during the year, a new report by Crypto.com shows. Moreover, the report reveals that the number of bitcoin owners reached 219 million in December while the number of ether owners reached 87 million. Cryptocurrency Adoption Achieves New Milestones Crypto.com published a report titled โ€œCrypto Market Sizingโ€ for the year 2022 last week. The company explained that its analysis is built on a combination of Bitcoin and Ethereum on-chain data, survey analysis, and its own…

Ark Invest CEO sees potential crypto rebound amid whiffs of a Fed pivot

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The chief executive from crypto and tech investment firm Ark Invest believes crypto assets will see a huge turnaround this year as inflation falls and the Fed pivots.ย  In a company video blog on Jan. 23, Ark Invest CEO and CIO, Cathie Wood, started with a glance at the macroeconomic outlook. She said there was all kind of signals pointing to lower inflation which โ€œsuggests that the Fed should pivot soon.โ€ This would be beneficial for risk-on assets such as crypto as the macroeconomic outlook improves and financial belts are…

NFT-delivered court orders an answer to blockchain-related litigation: Lawyers

Non-fungible tokens (NFTs) are becoming an increasingly popular solution to serving defendants in blockchain-based crimes that would otherwise be unreachable, according to crypto lawyers. The last year has seen an increase in litigation delivered over NFTs in cases where those accused of blockchain crime wereuncontactable through traditional methods of communication. In November 2022, the United States District Court for the Southern District of Florida granted a United States law firm The Crypto Lawyers its request for its client to serve a defendant via NFT. While the defendant’s identity was unknown,…