Day: November 23, 2023

XRP price faces Q4 rout and 20% drop

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XRP price has dropped 18.5% from its local high of $0.67 on Nov. 23, and it appears the cryptocurrency will suffer more selloffs in the coming weeks. XRP technicals hint at extended correction XRP (XRP) has failed to break above a descending trendline resistance since January 2018, and it fell short of logging a breakout above in November 2023 as well, illustrating psychological selling pressure around the line. XRP/USD weekly price chart. Source: TradingView Each bearish rejection after testing the descending trendline resistance has historically resulted in a decline toward the…

New Binance CEO Richard Teng Says Exchange’s Fundamentals Are ‘Very Strong’ – Here’s What He Means

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The new Binance chief executive maintains that the embattled exchange’s business fundamentals remain “very strong” despite recent regulatory headwinds. Richard Teng, who previously worked as Binance’s head of regional markets, was promoted to the CEO position earlier this week after the company’s previous chief executive, Changpeng Zhao, resigned. Zhao stepped down after agreeing to plead guilty to violating US federal law that requires financial institutions to guard against money laundering and terrorist financing. The U.S. Department of Justice also slapped Binance with $4.3 billion worth of penalties and forfeiture after…

Stablecoins will remain ‘indispensable’ in Argentina under new president — Ripio CEO

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President-elect of Argentina Javier Milei ran on a promise of economic change. The shape of the transformation will only become known after his inauguration on Dec. 10, but stablecoins will play an important role in Argentinians’ financial lives no matter what happens, Ripio CEO Sebastián Serrano told Cointelegraph en Español. Argentina’s crypto community has responded with great enthusiasm to the election of the former economics professor, Serrano said. Argentina-based cryptocurrency exchange Ripio saw a 180% rise in new users in October and a 110% week-on-week increase in new users on…

Bitcoin Will Inevitably Breeze Past $70,000—Here’s Why

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Taking to X on November 22, crypto chartist @MortensenBach presented a bullish outlook for Bitcoin (BTC), predicting that not only will the coin breeze past $70,000 in the coming months, but it will set a new all-time high, fanning demand for stocks of Bitcoin mining companies like Riot Blockchain, Marathon Digital, and the rest. Bitcoin Trading Above The 20-Period MA In The Monthly Chart The chartist pointed to Bitcoin’s historical tendency to launch parabolic advances following decisive breaks above its 20-month simple moving average (20 SMA) in the monthly chart. As of…

SEI token skyrockets 91% in 7 days amid Circle investment

SEI, the layer-1 blockchain, witnessed a remarkable 91% surge in seven days, following a strategic investment from Circle. Data from CoinMarketCap shows SEI has now surged 91.13% to $0.20. At the time of writing, the token also reported an increase of 14.79% in the previous 24-hour period. SEI to USD Price Chart | Source: CoinMarketCap Sei was launched by the ex-Robinhood engineer as the first sector-specific layer-1 blockchain specialized for trading. On Nov. 15, the company announced a strategic investment from Circle, the issuer of USD Coin, alongside the bridged integration of…

5 Cryptos To Buy, HODL, Or Sell Now

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Renowned crypto expert and Forbes’ Director of Digital Asset Research, Steven Ehrlich, has provided insights on five prominent cryptocurrencies in the current market landscape. Solana Shakes Off Setbacks, Positioned As Top Crypto To Buy Bitcoin BTC), the most prominent cryptocurrency, has experienced a remarkable 120% surge in 2023. After a long wait for Securities and Exchange Commission (SEC) approval of a Bitcoin exchange-traded fund (ETF), recent developments indicate that a Spot Bitcoin ETF could finally get the green light by January, as many in the crypto community have predicted, according…

KyberSwap attacker used ‘infinite money glitch’ to drain funds: DeFi expert

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The attacker who drained $46 million from KyberSwap relied on a “complex and carefully engineered smart contract exploit” to carry out the attack, according to a social media thread by Ambient exchange founder Doug Colkitt.  Colkitt labeled the exploit an “infinite money glitch.” According to him, the attacker took advantage of a unique implementation of KyberSwap’s concentrated liquidity feature to “trick” the contract into believing it had more liquidity than it did in reality. 1/ Finished a preliminary deep dive into the Kyber exploit, and think I now have a…

Stablecoin bill is a ‘no-brainer’ — Consensys director on US legislation

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Amid ongoing campaigns for the elections in 2024, many United States lawmakers have not sealed the deal on legislation aimed at establishing regulatory clarity on aspects of the digital asset space, including stablecoins. Speaking with Cointelegraph at the North American Blockchain Summit on Nov. 16, Consensys’ senior counsel and director of global regulatory matters, Bill Hughes, said it was “an exciting time in the policy world” as members of Congress considered which crypto bills they planned to support. Hughes said legislating on stablecoins should be a “no-brainer” for lawmakers once…

Analyst Pinpoints Next Bullish Targets

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Renowned market analyst Ali Charts recently shared his insights, predicting a bullish trajectory for XRP. Ali, known for his market predictions, anticipates that XRP is on the brink of a major breakout, potentially escalating to a significant price range shortly. Expert Analysis Of XRP’s Movement Ali Charts has recently turned the spotlight on XRP. In his latest analysis, Ali predicts a promising upturn for XRP, expecting it to break out from its “descending parallel channel.” This optimistic forecast points to a swift climb, targeting the $0.65-$0.66 range. The analysis is…

Alchemy Pay Secures Money Transmission License in Iowa

Alchemy Pay is continuing its expansion in the United States and has now gotten a money transfer license in Iowa. Crypto-fiat payment gateway Alchemy Pay has acquired a money services license in Iowa as part of plans to expand extensively into the United States. The acquisition of a license is in compliance with local state laws that require any person or entity operating a money transmission or currency exchange business to acquire the license. Speaking to Cointelegraph about the license, Alchemy Pay Ecosystem Lead touted the need for proper regulations,…