Day: November 24, 2023

On-Chain Data Paints Path To $2,400

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Ethereum has cleared the $2,100 level during the past day, and if on-chain data is anything to go by, a rally to new yearly highs should be “easy.” Ethereum Has No Major On-Chain Resistance At Higher Levels An analyst in a post on X explained that Ethereum has overcome a major on-chain resistance zone with its recent price rally. The on-chain resistance and support levels are defined based on the density of investors who bought at them. The reason behind this lies in how investor psychology tends to work. For…

KyberSwap attacker used ‘infinite money glitch,’ Australia’s tax agency won’t clarify DeFi rules: Finance Redefined

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Welcome to Finance Redefined, your weekly dose of essential decentralized finance (DeFi) insights — a newsletter crafted to bring you the most significant developments from the past week. The attacker who stole $46 million from the KyberSwap protocol has used a complex strategy described by a DeFi expert as an “infinite money glitch.” With the exploit, the attackers tricked the platform’s smart contract into believing it had more liquidity available than it did. Australia’s tax regulator has failed to clarify its rules on DeFi despite Cointelegraph reaching out for answers.…

Crypto documentary ‘Bull Run’ takes on Bitcoin, tokenization and trading addiction

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The film industry has been suggested by many as one of the next frontiers of Web3 and blockchain technology. With movies historically funded by wealthy investors or centralized production companies, blockchain offers a unique set of tools to decentralize the investment process. Filmmakers can launch projects quicker, and individuals can have a stake in the financial outcome of a film in a way not historically possible — all with the benefit of blockchain’s transparency and efficiency. The trend toward tokenization in all forms of entertainment is growing, and with it…

Ethereum To $36,800? Token Terminal Predicts When This Will Happen

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Blockchain analytics platform Token Terminal has provided insight into the future trajectory of the second largest cryptocurrency by market cap, Ethereum (ETH). Interestingly, they predict that the crypto token could rise as high as $36,800. When Ethereum Will Hit $36,800 In the research paper released by the platform, Ethereum is billed to hit the $36,800 mark by 2030. However, this prediction is made in the best-case scenario of 2030 being a bull market season. One of the ways in which they analyzed ETH’s future value was with the total Addressable…

Bitfarms secures $44m from U.S. investors to boost Bitcoin mining ops

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Bitfarms announces a $44 million private placement with U.S. investors to expand its Bitcoin mining infrastructure and strengthen its working capital. Bitfarms Ltd., a Canadian Bitcoin mining company, has initiated a private placement deal with U.S. institutional investors to raise approximately $44 million ($60 million CAD). This strategic deal, set to close around Nov. 28, entails the issuance of over 44 million common shares at 99 cents each, coupled with warrants for purchasing additional shares.  As Bitfarms mentions, the proceeds from this private placement will fund key growth initiatives, including…

Justin Sun announces airdrop for HTX and Poloniex users following hack

HTX and Poloniex are about to resume deposits and withdrawals, and Justin Sun announced an airdrop for affected users. Following the recent cybersecurity breaches of HTX and Poloniex, Justin Sun has announced an “epic airdrop” for users with assets on these platforms. The move comes as a gesture of goodwill and support to those affected by the hacks. As HTX and Poloniex approach opening deposit and withdrawal, we will initiate an epic airdrop for users with assets. Please stay tuned! My deepest apologies to the users affected by the hacker…

Square Enix announces auction dates for Symbiogenesis NFTs

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Final Fantasy game developer Square Enix announced auction dates for its upcoming Symbiogenesis non-fungible tokens (NFTs). In a Nov. 24 social media post, the team said it would sell the NFTs in three batches. The first batch will be auctioned from Nov. 27-28, the second from Nov. 30-Dec. 4 and the third from Dec. 2 to Dec. 3. Symbiogenesis is Square Enix’s upcoming blockchain game that features Ethereum-based NFTs. Starting next week, it’s finally time for the start of the auction! Phase 1: 11/27 12:00 – 11/28 11:59 (JST)Phase 2:…

These 5 Altcoins Are Poised For Breakouts, Says Crypto Expert

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A recent analysis by a Crypto Banter pinpointed new notable price levels for prominent altcoins such as  XRP, Solana (SOL), Chainlink (LINK), Fantom (FTM), and Polygon (MATIC). These insights provide a fresh perspective on potential entry points for bullish positions in the current market. Altcoins At Crossroads: Key Price Levels To Watch In this analysis, Crypto Banter singles out Solana (SOL) and notes that $48 is an “intriguing” level to watch for any pullback. Additionally, historical data consolidating around this price point on the SOL/USD weekly chart indicates it could…

Tether, Bitfinex to Drop Opposition to FOIL Request by Journalists Including Bloomberg Businessweek’s Zeke Faux

Tether previously made a similar announcement after losing in court twice when attempting to block a June 2021 FOIL request filed by CoinDesk. That request pertained to documents produced during the New York Attorney General’s inquiry on allegations that USDT, the U.S. dollar-pegged stablecoin that Tether issues, was not sufficiently backed by reserves from mid-2019 to early 2021, settling charges with the company at the end of that period. Source

Grayscale’s GBTC Discount to NAV At Narrowest Since July 2021 on ETF Optimism

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