Month: August 2023

SHIB, UNI, OKB and HBAR flash bullish signs as Bitcoin volatility hits record low

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Bitcoin (BTC) continued its boring price action over the weekend, indicating that the bulls and the bears are not waging large bets as they are uncertain about the next directional move. Nevertheless, traders should continue to keep a close watch because a period of consolidation is usually followed by an increase in volatility.  Although it is difficult to predict the direction of the breakout with certainty, some analysts point to the Bitcoin whales increasing their exposure as a positive sign. On-chain analyst Cole Garner believes the bull move could continue…

Litecoin and Polkadot holders exploring the Pomerdoge presale

More Litecoin and Polkadot investors are exploring Pomerdoge. Notable, the broader crypto community and meme coin enthusiasts have picked out Pomerdoge in the ongoing presale. The Pomerdoge project Pomerdoge aims to combine non-fungible tokens (NFTs), a play-to-earn (P2E) gaming platform, and a meme token; an approach already drawing interest from investors and users. Central to Pomerdoge’s universe is its P2E game, where global players can compete and even earn rewards. The platform aims to fuse leisure and, possibly, financial opportunities as players engage. Pomerdoge creators are also developing Pomerplace, a marketplace for…

Valkyrie moves to convert BTF into dual Bitcoin, Ethereum ETF

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Share Share on Twitter Share on LinkedIn Share on Telegram Copy Link Link copied Valkyrie recently filed a Form 497 detailing its plan to transform its existing Bitcoin Technique exchange-traded fund (BTF) into a dual Bitcoin and Ether exchange-traded fund (ETF) on Oct. 3.  Finance experts are questioning the decision to convert the current futures fund rather than forming a whole new business. Observers speculate that regulatory procedures under the U.S. Securities and Exchange Commission (SEC) make it impossible to deviate from the set deadline. Bloomberg ETF analyst Eric Balchunas compares…

SHIB price climbs 20% as Shibarium launch nears

Popular dog-themed meme coin Shiba Inu has seen its value rise by 20% to become one of the best-performing coins of the weekend. Shiba Inu (SHIB) prices rose from a low of $0.00000827 on Aug. 4 to $0.00001028 early on Aug. 6. So far, it advanced 12.24% over the last seven days, according to CoinGecko statistics.  The meme coin is gaining traction on Binance and other crypto exchange platforms and has outpaced other popular cryptocurrencies such as Bitcoin (BTC), Ethereum (ETH), XRP, and Dogecoin (DOGE).  Over the weekend, Bitcoin, Ethereum,…

Huobi’s TVL drops to $2.5B amid rumors of insolvency, investigations in China

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Cryptocurrency exchange Huobi has seen outflows worth $64 million between Aug. 5-6, amidst ongoing rumors about its solvency and that Chinese authorities were investigating its executives. Outflows over the weekend resulted in the exchange’s total value locked (TVL) falling to $2.5 billion at the time of writing, down from $3.09 on July 6. Rumors that the exchange’s leadership had been arrested in China first surfaced on Aug. 4, as part of an alleged investigation about the exchange’s dealings with gambling platforms. Speaking to Cointelegraph, a Huobi spokesperson labeled the claims…

Tron dominates in USDT transactions, Borroe plans to shape web3 fundraising

The crypto market is dynamic as different blockchain networks compete for dominance. Tron is a popular blockchain option for USDT transactions. Meanwhile, Borroe is a crypto project that seeks to transform how businesses secure funds through its funding marketplace powered by artificial intelligence (AI). This article discusses Tron’s role in USDT transactions and outlines Borroe’s strategy in crypto fundraising. Stablecoins and Tron Tron has a market capitalization of more than $6.8 billion and is widely used for USDT transactions.  As a result, the network has become a dominant player in the stablecoin market.…

Coinbase battles US SEC, Worldcoin concerns mount, FTX announces reorganization plans

This week, Coinbase’s legal dispute with regulators unfolds as the crackdown on hacks and scams intensifies. Meanwhile, Worldcoin is under scrutiny and FTX announces reorganization plans. Coinbase vs. US SEC Coinbase Global (COIN) continues to garner significant attention for its ongoing lawsuit with the U.S. Securities and Exchange Commission (SEC).  Coinbase CEO Brian Armstrong claimed that the SEC mandated the cessation of all cryptocurrency trading, except for Bitcoin, on the exchange, a Financial Times report revealed. Per Armstrong, the SEC’s request came before their lawsuit against the exchange for non-compliance…

OPNX exchange bids for crypto lender Hodlnaut in Singapore

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Crypto lender Hodlnaut appears to have found a white knight investor to exit its bankruptcy proceedings. According to a Bloomberg report, OPNX exchange has made an offer to take over 75% of the company. The deal would see a capital injection of nearly $30 million worth of FLEX tokens into Hodlnaut to partially cover creditors’ payout and outstanding claims. According to CoinMarketCap, FLEX is trading at $7.16 as of this writing, bringing the capital injection to nearly $215 million. Hodlnaut’s restructuring is being overseen by a Singapore court. If approved…

China Targets Overseas Telecom Fraud Leveraging Blockchain, Crypto, Metaverse, and AI

In a recent meeting, China’s Central Political and Legal Affairs Commission has emphasized the need for a systematic, legal, and source-based approach to combat overseas telecom network fraud and related criminal activities. The announcement was made on August 6, 2023, as reported by the Economic Daily. The commission pointed out that fraud groups have been increasingly utilizing new technologies such as blockchain, metaverse, virtual currency, and AI intelligence to update their criminal tools, making them more concealed and deceptive. Overseas Telecom Fraud: A Growing Concern In recent years, overseas telecom…

TRX, MATIC falling, QUBE firm in bearish crypto market

In a market known for its unpredictability and volatility, some players have been overcoming the odds. Although the sentiment for TRON (TRX) and Polygon (MATIC) is bearish, QUBE, the native token of InQubeta, has been resilient in recent days. InQubeta rides on innovation QUBE has garnered attention from investors due to InQubeta’s blockchain-powered approach to democratizing investment in crypto startups using artificial intelligence (AI).  Despite the broader market downturn, QUBE has been firm in the ongoing presale. For this reason, some investors say InQubeta has continued reinforcing its value proposition in the rapidly…