Month: August 2023

BTC price upside ‘yet to come’ at $29K after Bitcoin RSI reset — trader

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Bitcoin (BTC) has not yet seen the majority of its gains this cycle, one popular trader believes. In a tweet on Aug. 3, Credible Crypto doubled down on his bullish BTC price thesis. Credible Crypto: Bitcoin still to see “biggest upside moves” After over a month of acting within a tight trading range, traders’ patience with Bitcoin is wearing thin. Amid expectations that BTC price will test levels closer to $25,000 or even lower, Credible Crypto is one of those arguing the opposite. Analyzing data including Bitcoin market cap dominance…

MKR to retest $1,300, DigiToads presale bullish

Maker is bullish, pointing to its role and potential in decentralized finance (defi). Approving the Enhanced DAI Savings Rate (EDSR) proposal could further incentivize DAI holders and increase demand for the stablecoin, subsequently driving MKR to new highs.  Based on on-chain data, it has been observed that some large wallets are accumulating MKR, possibly in response to Maker’s shift from a buy-and-burn model to a Smart Burn Engine.  Accordingly, there is hope that MKR could break above $1,300. While technical analysis points to bulls, a cool-off may see MKR retest $1,000. As…

Bitcoin Breakout Or Breakdown? Ark Invest Shares Prediction

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David Puell, an on-chain researcher at Ark Invest, today shared his insights in a detailed report, offering a nuanced perspective on Bitcoin’s current standing and future prospects. The report, titled “The Bitcoin Monthly: July 2023,” addresses several key topics that are central to understanding the current state of Bitcoin. These topics include a comprehensive market summary, an analysis of Bitcoin’s low volatility and whether it indicates a potential breakdown or breakout, as well as a discussion on the impact of the Federal Reserve’s tightening policy as a leading indicator of…

Curve’s founder sells 7.5 million CRV, settles $3 million debt on Aave

Share Share on Twitter Share on LinkedIn Share on Telegram Copy Link Link copied Michael Egorov, the founder of Curve, has sold an additional 7.5 million CRV via an over-the-counter (OTC) transaction and paid a $3 million debt in USDT on Aave, a decentralized lending platform on Ethereum. CRV is the native token of Curve, the stablecoin decentralized exchange. Egorov still owes $82.6 million, spread across different platforms: $51.24 million in USDT on Aave, $12 million in MIM on Abracadabra, 9.19 million in FRAX on Fraxlend, $9.4 million in DOLA…

Nearly half of crypto copy traders are Gen Z, says Bitget report

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Generation Z crypto investors are more likely to engage in copy trading or social trading, an investment method that involves mirroring someone else’s trades, according to a report from crypto exchange Bitget. In an Aug. 3 report on copy trading by Bitget, the firm revealed that out of all of its copy traders, 44% of them were under 25 years of age. This was followed by 25- to 35-year-olds, who accounted for just under one-third of all copy traders. The older generation, 35- to 55-year-olds, made up 17% of copy…

‘Is this a Bitcoin ad?’ Joe Biden unknowingly touts BTC in coffee mug video

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United States President Joe Biden may have inadvertently become Bitcoin’s latest brand ambassador in a new “cringe” video advertising merchandise for his reelection campaign. On Aug. 3, President Biden tweeted: “A cup of Joe never tasted better” along with a video of himself drinking coffee from a mug. A cup of Joe never tasted better. Grab yours: https://t.co/4fbxCBQNPZ pic.twitter.com/s2qboyE7C1 — Joe Biden (@JoeBiden) August 3, 2023 The Bitcoin and crypto community were quick to notice the design of the coffee mug, which features his face with glowing red “laser eyes”…

New York resident confesses to hacking Bitfinex in 2016

Share Share on Twitter Share on LinkedIn Share on Telegram Copy Link Link copied Ilya Lichtenstein, a resident of New York, has confessed to his involvement in the laundering of stolen Bitcoin worth $4.5 billion that was taken during the 2016 Bitfinex hack. This is a significant development as the hacker’s identity was previously unknown.  Despite doubts about the couple’s capacity for orchestrating such a crime, blockchain records revealed a clear trail from Bitfinex to a wallet found in Lichtenstein’s possession by authorities.  In February 2022, the U.S. Department of…

SEC freezes assets of DEBT Box, alleging $50M node license ‘sham’

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The United States Securities and Exchange Commission has obtained a temporary asset freeze against Utah-based crypto company Digital Licensing Inc, accusing the firm of perpetrating a $50 million fraudulent crypto scheme. On Aug. 3 the SEC announced it had obtained a temporary asset freeze, restraining order, and other emergency relief against Digital Licensing Inc., which was operating as “DEBT Box.” The firm’s four principals, Jason Anderson, his brother Jacob Anderson, Schad Brannon, and Roydon Nelsonand, and 13 other defendants were included in the enforcement action. The SEC has alleged the…