Month: August 2023

Compound (COMP) Bears Take Full Control As Price Dips 20% In 7 Days

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Compound (COMP), a leading player in the decentralized finance (DeFi) sector, has encountered a significant setback, witnessing a 20% decline in its price over the past week. The downward trend continued with a 3.06% decrease in the last 24 hours and an additional 0.79% shrinkage in the most recent hour, placing the current price at $55.62 per COMP. Moreover, COMP is now 93.90% below its all-time high of $911.20, a substantial drop from its previous peak. Related Reading: Crypto Analyst Points To Bitcoin Price History Repeating Itself – Are The…

More Bite Than Bark Over The Weekend

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This weekend, Shiba Inu is experiencing an extended upward traction, with the dog-themed meme coin sharply rising since late Friday. Shiba Inu made a sharp rally after exiting a phase of consolidation on Friday afternoon. At the time of writing, the meme coin was trading at $0.0000097, up 9.2% in the last 24 hours, data from crypto market tracker Coingecko shows. The highlight of SHIB’s solid upward trajectory was in the seven-day timeframe, registering an impressive 15.1% rally. At last check, the coin’s 24-hour volume climbed 236% to $683 million.…

XRP price disappoints after court ruling, Deaton remains optimistic

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Despite a brief rally, the XRP (XRP) price did not reach anticipated levels after a recent favorable court ruling for the token. Among those with ambitious price targets for the cryptocurrency is pro-XRP lawyer John Deaton. Deaton addressed a post from a user named Moon Lambo on X (formerly Twitter), who criticized complaints from certain investors about slow price gains in digital currencies year-to-date. Moon Lambo said XRP has grown by 85% this year, implying a positive overall trend. Several weeks have passed since Judge Analisa Torres delivered the highly…

Bitcoin price can go ‘full bull’ next month if 200-week trendline stays

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Bitcoin (BTC) is preparing a “full bull” BTC price phase in classic style, market cyclist Cole Garner believes. In social media analysis on Aug. 6, the popular on-chain analyst said that major upside awaits both Bitcoin and the broader crypto market. Bitcoin “bull market’s backbone” strengthening BTC price action continues to stagnate, but those looking further into the future are convinced that this cycle is just like any other. For Garner, activity among the largest-volume cohort of Bitcoin investors — the whales — is one such cause for optimism. “Whale…

Crypto Exchange Binance Announces Addition of Shiba Inu (SHIB) As Collateral Asset for Flexible Loans

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The world’s largest crypto exchange platform by volume has announced support for memecoin Shiba Inu (SHIB) as a collateral asset for one of its loan programs. In a new company statement, Binance says that it’s adding SHIB, alongside a handful of other altcoins, as collateral to its flexible loan feature. Binance’s flexible loans allow users to take out loans collateralized by cryptocurrencies without needing to commit to a specific loan term for the duration of the loan. Other digital assets included in the loan program as supported collateral include blockchain-based…

Tether unveils mining software to boost efficiency and capacity

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The developers at Tether are in the process of preparing the release of innovative JavaScript libraries. These libraries are specifically created to facilitate the transmission of commands and signals to Bitcoin (BTC) mining hardware, encompassing popular devices like WhatsMiner, AvalonMiner and Antminer. As per a post shared on August 5 by Paolo Ardoino, the chief technology officer (CTO) of Bitfinex and Tether, certain segments of this mining software will be made available on open-source platforms in the future. The recently introduced Tether BTC mining software’s primary aim is to enhance…

X will foot legal bills of users unfairly treated by employers for posting or liking content: Elon Musk

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Elon Musk stated that his social media company X (formerly Twitter) will fund the legal bills of any user that was treated unfairly by their employer for engaging with content on the platform. In an April 5 X thread announcing the move, Musk said that lawsuits of any scale will be supported: “If you were unfairly treated by your employer due to posting or liking something on this platform, we will fund your legal bill. No limit. Please let us know.” If you were unfairly treated by your employer due…

Who Was The Better Performer In H1 2023

A new report has shown investors who held Bitcoin actually outperformed most cryptocurrency funds in the first half of 2023. This is because, between January and June, Bitcoin gained over 80% in value.  Crypto funds, on the other hand, on the other hand, returned only about 15.2% profits on average. While still a positive return, it lagged far behind what regular Bitcoin investors made by just buying and sitting tight.  21e6 Capital’s Crypto Fund Performance in H1 2023 According to a recently released report from Switzerland-based investment adviser 21e6 Capital…

XRP Whales Trigger Price Decline With Large Selling

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Massive XRP whale wallets are at it again as recently, some of the largest holders of XRP have dumped over 100 million tokens, putting major selling pressure on the XRP price.  On-chain data shows that since July 19, the overall supply in addresses holding between 100,000-1,000,000 coins has decreased from 6.85 billion to 6.75 billion. Whales Taking Profit After Pump The actions of whales or large holders of cryptocurrencies seem to always tell the nature of general market sentiment. When whales sell off chunks of their holding, it often triggers…