“Bitcoin closed the [last] week with a notable drop below its 200-week and 200-day moving averages, signaling a shift to a bearish trend. From current levels near $26,000, the following area of decline appears to be the last pivot area at $24,700,” Kuptsikevich said in an email. Source
Ethereum price is struggling to recover above the $1,700 resistance against the US Dollar. ETH could start a fresh decline if it stays below $1,700 and $1,720. Ethereum is struggling to recover above the $1,700 and $1,720 levels. The price is trading below $1,700 and the 100-hourly Simple Moving Average. There is a key bearish trend line forming with resistance near $1,680 on the hourly chart of ETH/USD (data feed via Kraken). The pair could start another decline if it stays below the $1,700 level in the near term. Ethereum…
Share Share on Twitter Share on LinkedIn Share on Telegram Copy Link Link copied Ripple (XRP), Litecoin (LTC) and Stellar (XLM) gained bullish momentum over the past 24 hours as the global crypto market cap turned green after last week’s “bloodbath.” According to data from Santiment, the social volumes of LTC, XRP and XLM have skyrocketed over the past 24 hours. This led to short-term gains for the three cryptocurrencies, leading the top altcoins. 📈 After #crypto market caps dropped sector-wide last week, several #altcoins are scratching their way back,…
Generative AI is more likely to complement existing jobs than take over them entirely, though certain roles, such as clerical work, could see more of their tasks automated than others. According to an Aug. 21 Generative AI and Jobs study by the International Labour Organization — a United Nations agency — 24% of clerical tasks are considered highly exposed to automation, with an additional 58% with medium-level exposure. Tasks with high and medium GPT-exposure by occupational category. Source: ILO Typists, travel consultants, bank tellers, contact center clerks, bookkeeping and data entry…
Share Share on Twitter Share on LinkedIn Share on Telegram Copy Link Link copied The Bitcoin (BTC) price has struggled around $26,000 after Elon Musk’s spacecraft manufacturer SpaceX dumped its BTC holdings. On the other hand, Glassnode data suggests that the number of wallets holding at least 1 BTC has reached an all-time high (ATH) of 1,015,299 despite the bearish market sentiment. Per the on-chain data provider, the addresses have risen since late 2021, when BTC hit an ATH of $68,790. Moreover, BTC short-term traders have also risen with the…
Prosecutors filed the document, titled “the government’s requests to charge,” late Monday, adapting from various previous sets of jury instructions including past statements from Judge Lewis Kaplan, the Southern District of New York judge overseeing Bankman-Fried’s case. The FTX founder faces seven different charges, ranging from wire, securities and commodities fraud conspiracy to money laundering allegations. Source
The team behind the viral decentralized social media platform friend.tech has refuted a report which claimed that the personal information of more than 100,000 of its users was “leaked.” The now-amended report, first posted by The Block, suggested that data posted by Banteg, a pseudonymous developer for Yearn Finance, was “leaked” information. The friend.tech team however clarified that the information came from scraping its public API. “It’s like saying someone hacked you by looking at your public Twitter feed,” the official friend.tech account argued. This is just someone scraping our…
Coinbase’s announcement on Aug. 21 disclosed that their buyback program, initiated earlier this month, has garnered slightly above $50 million in bond tenders. As a response, the exchange has increased its offering on the 3.625% Senior Notes maturing in 2031 from 64.5 cents to 67.5 cents on the dollar in a recent release from Coinbase. Debt before the storm Coinbase shared the early tender results of its offer made on Aug. 7 to purchase in cash up to $150 million, excluding unpaid interest of its Senior Notes due in 2031.…
Thailand is planning to seek a court-issued shutdown order against Facebook unless it takes steps to deal with alleged investment and crypto scam ads on its platform. On Aug. 21, the Ministry of Digital Economy and Society (MDES) stated over 200,000 people had been duped by Facebook ads that touted crypto scams, investing in fake businesses and faked government agencies such as the Securities and Exchange Commission. Popular tactics used by the scammers included crypto investment and trading scams, MDES claimed. Some ads also allegedly used images of celebrities and…
In a recent development, THORChain (RUNE), the liquidity network, has unveiled its lending feature, enabling users to leverage their native Layer-1 (L1) assets, such as Bitcoin (BTC) and Ethereum (ETH), to secure loans denominated in TOR, a USD equivalent stablecoin. According to the announcement, this move opens up new avenues for financial participation, allowing users to borrow funds without the “burdens” of interest, liquidations, or expiration. THORChain Introduces Interest-Free Loans The lending process is designed to be user-friendly and “straightforward,” focusing on minimizing cognitive burden. Depending on prevailing market conditions,…