Bitcoin has observed a surge towards the $26,700 level in the past day. Here’s what on-chain data says regarding whether this rise would stay. Bitcoin Has Broken The $26,700 Level During The Past Day After a long run of stagnation around and below the $26,000 level, Bitcoin finally seems to be making a steady run above it, as the cryptocurrency has now breached the $26,700 mark. Looks like BTC has observed an increase over the past few days | Source: BTCUSD on TradingView With this latest rise, BTC is up…
Day: September 14, 2023
Matter Labs steps back as zkSync launches ecosystem portal managed by DappRadar
Matter Labs recently announced the launch of a new ecosystem portal for zkSync, managed by DappRadar, in what both partners are calling a step toward fully decentralizing the protocol. A layer-2 blockchain for Ethereum payments, zkSync was created by Matter Labs as a method for scaling the Ethereum blockchain ecosystem. It currently boasts more than 200 projects and, according to the protocol’s website, has served more than 8.8 million testnet transactions. Meet zkSync’s new ecosystem portal Starting today, you can explore the universe of dapps on zkSync with the new…
Polygon publishes proposals to replace MATIC and enhance infrastructure
Polygon Labs has unveiled the first three proposals to introduce infrastructural changes and a new native token as part of the Polygon 2.0 roadmap. The first of these Polygon Improvement Proposals (PIPs), PIP-18, is dubbed “Phase 0”, and focuses on four milestones designed to require no action from developers and end users on Polygon proof-of-stake (POS) and zkEVM chains. Polygon Phase 0 Milestones | Source: Polygon Labs PIP-17, the second proposal, pushes for POL, a new token to replace MATIC, as Polygon’s native asset. If approved by the community, the…
Solana traders prepare for FTX-induced sell pressure on SOL — Is it premature?
For a long time, Solana (SOL) has been associated with the founder of now insolvent crypto exchange FTX and hedge fund Alameda Research, Sam Bankman Fried. He was an early investor in the project and invested in numerous Solana ecosystem projects during the 2020-2021 bull mania. So when FTX collapsed toward the end of 2022, Solana and other “Sam coins” plummeted significantly, falling to lows of $9.89 — down 96.3% from the peak of $259.96. Since the start of 2023, Solana’s price staged a recovery to gain 175% to reach…
Former Celsius exec pleads guilty to criminal charges
Roni Cohen-Pavon, the former chief revenue officer of cryptocurrency lending firm Celsius, has reportedly pleaded guilty to charges related to fraud and price manipulation. According to a Sept. 13 filing in the United States District Court for the Southern District of New York, Cohen-Pavon pleaded guilty to conspiracy to commit price manipulation, securities fraud, manipulation of security prices and wire fraud. He will be free on bail until a Dec. 11 sentencing hearing. CRYPTO CRIMES: #Celsius‘ Mashinsky Co-Defendant Pleads Guilty Now Cohen-Pavon To Be Sentenced Dec 11 – Inner City…
Analyst’s Ultra Bullish Prediction Puts XRP Price At $10,000, But When?
Amid the bullish predictions that have popped up over the last few weeks for the XRP price, the most recent one stands out. The forecast which was presented by pseudonymous crypto analyst and XRP maxi known as Lord XRP, will put the altcoin on par with cryptocurrencies such as Bitcoin and Ethereum if it becomes a reality. Analyst Puts XRP Price At $10,000 In a post shared on the X (formerly Twitter) platform, the crypto analyst presents a situation that could see the XRP price rise as high as $10,000.…
Genesis announces winding down of crypto trading services
Crypto lending firm Genesis, a subsidiary of Digital Currency Group (DCG), will stop offering spot and derivatives trading for crypto assets through its British Virgin Islands unit. According to a Sept. 14 statement from a Genesis spokesperson, the firm will “voluntarily and for business reasons” wind down its digital asset trading services through all of its entities. Genesis had been offering trading services through its GGC International arm in the British Virgin Islands. The move followed Genesis Global Trading — a firm also affiliated with DCG but not subject to…
Former Celsius executive pleads guilty to price manipulation charges
Roni Cohen-Pavon, the former chief revenue officer at Celsius, has pleaded guilty to four criminal charges before a federal court in Manhattan, New York. Cohen-Pavon admitted to manipulating the market price of CEL, the primary cryptocurrency issued by bankruptcy digital asset lender Celsius. The ruling on Sep. 13 was issued by U.S. District Judge John Koeltl, according to Reuters. Following his guilty plea, Cohen-Pavon’s sentencing was set for Dec. 11, 2024. The former executive was indicted in July 2024 while federal prosecutors charged Celsius founder Alex Mashinshky with fraud and…
Top Senate Democrat Brown Tells Gensler, Yellen, Behnam to Use Powers to Address Crypto
“Ultimately, inadequate disclosures persist because opacity serves sponsors, executives, and other crypto industry insiders,” Brown argued. “It is far easier to profit when customers are left in the dark. That’s why the crypto companies resist real transparency and try to force Americans to accept the paltry, self-serving disclosures endemic to the industry.” Source
Market Crash Or Just Hype?
The potential Solana (SOL) liquidation from failed exchange FTX has become a focal point for traders and crypto investors. The speculation and accompanying FUD (Fear, Uncertainty, Doubt) surrounding the potential sell-off have amplified market uncertainties. A recent court approval paved the way for the embattled exchange FTX to liquidate $3.4 billion in diverse digital assets. This move, announced by Judge John Dorsey, has set off a whirlwind of debates, especially regarding Solana, one of the assets in FTX’s portfolio. Diving Deep: FTX’s Solana Holdings And Potential Impact Among FTX’s vast…