Day: August 16, 2023

Substantial Selling Pressure Seen Dropping

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The price action of Shiba Inu (SHIB) has encountered a significant compression, primarily attributed to substantial selling originating from a prominent institutional market participant. Data obtained from Lookonchain, a renowned on-chain analytics resource, has shed light on the ongoing selling spree by Voyager, a troubled asset manager currently navigating bankruptcy proceedings.  This selling binge over the past four days has amounted to an astonishing 1.4 trillion SHIB tokens, equivalent to approximately $14.4 million. The cryptocurrency landscape has witnessed a noteworthy development as Voyager, amidst its financial restructuring, embarked on an…

Layer 2 Arbitrum to Unlock 1.1B ARB Tokens in 7 Months

On March 16, the protocol designed to offer scalable and low-cost smart contract capabilities will “cliff unlock” 1.11 billion ARB tokens worth $1.24 billion at the going market rate of $1.12. The amount to be released equates to 87% of the token’s circulating supply of 1.275 billion. At press time, over 5 billion ARB tokens remain locked. Source

A pro-crypto president will catalyze innovation, supporting projects like Borroe

The upcoming presidential elections in the US will likely influence the crypto landscape. The viewpoints of candidates regarding the industry could, looking at what’s been mentioned, play a role in shaping regulations and steering the trajectory of the digital asset market. As notable figures in the race vocalize their crypto positions, the ramifications for the broader blockchain sector are being carefully monitored. As it is, the convergence of politics and technology introduces opportunities and challenges for the cryptocurrency industry. Subsequently, a pro-crypto president could stimulate the adoption of inventive initiatives…

US House Democratic coalition creates AI working group

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Democrats from the United States House of Representatives have formed a working group on artificial intelligence aimed at introducing new legislation around the nascent tech sector. The 97-member New Democrat Coalition announced its AI working group on Aug. 15, stating it would work with President Joe Biden’s administration, stakeholders and lawmakers from both sides of the political arena to develop “sensible, bipartisan policies to address this emerging technology.” The group will focus on a range of issues including how best to leverage AI for growth while still ensuring that workers…

Crypto mining lobby group to dispel misconceptions in Washington DC: Founder

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The United States crypto mining industry is getting a new lobbying group, with one of its biggest goals to dispel misconceptions about its sustainability from policymakers.  Launched on Aug. 15, the Digital Energy Council said its aim is to advance policies that encourage the growth of digital asset mining and energy development. DEC founder and President Thomas Mapes told Cointelegraph it was “long overdue” for digital asset miners to have a unified voice in Washington. Its official first member association solely focused on the intersection of digital asset mining and…

ADA Price Plunges 5%, Can Buyers Save The Key $0.275 Support?

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Cardano’s price started a fresh decline from well above $0.30. ADA is testing $0.275 and remains at risk of more downsides in the near term. ADA price is gaining bearish momentum below the $0.30 level against the US dollar. The price is trading above $0.288 and the 100 simple moving average (4 hours). There is a major bearish trend line forming with resistance near $0.288 on the 4-hour chart of the ADA/USD pair (data source from Kraken). The pair could start a recovery wave if there is a close above…

Ethereum Price Prints Bearish Technical Pattern, Why It Could Extend Losses

Ethereum price is moving lower below the $1,850 zone against the US Dollar. ETH could extend losses and trade below the $1,800 support. Ethereum is slowly moving lower below the $1,850 and $1,840 resistance levels. The price is trading below $1,840 and the 100-hourly Simple Moving Average. There is a key bearish trend line forming with resistance near $1,835 on the hourly chart of ETH/USD (data feed via Kraken). The pair could drop further below the $1,800 support in the near term. Ethereum Price Turns Red Ethereum’s price struggled to…

Stellar dips into treasury to buy minority stake in MoneyGram

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The Stellar Development Foundation (SDF) has become a minority investor in payments provider MoneyGram International. In an Aug. 15 X post, Stellar Development Foundation CEO and Executive Director Denelle Dixon announced the new investment saying the decision to provide funds to MoneyGram “was an easy one.” In an accompanying blog post, Dixon added the investment was made out of the SDF’s own cash treasury using assets set aside to support the operations of the Foundation. This was used instead of Stellar’s Enterprise Fund used to invest in startups and earlier-stage…

Bitcoin Price Key Indicators Suggest A Strong Case For More Losses

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Bitcoin price moving lower below the $29,500 zone. BTC remains at risk of more downsides below the $29,000 support zone. Bitcoin is still trading well below the $29,650 resistance zone. The price is trading below $29,300 and the 100 hourly Simple moving average. There is a connecting bearish trend line forming with resistance near $29,250 on the hourly chart of the BTC/USD pair (data feed from Kraken). The pair could continue to move down and break the $29,000 support zone. Bitcoin Price Turns Red Bitcoin price failed to start a…

Cyberconnect token debuts on Binance with 30% dip

Share Share on Twitter Share on LinkedIn Share on Telegram Copy Link Link copied Cyberconnect’s coin CYBER was listed on Binance. Right after the listing, its value dropped by 30%. Cyberconnect’s token, CYBER, was added to the Binance platform on Aug. 15. The coin’s price can now be tracked at the crypto stats websites, such as CoinGecko and CoinMarketCap. Shortly after the listing, CYBER experienced a 30% drop in its value. According to CoinGecko, the coin nosedived from $7 to $4.92. At the time of writing, its low was at…