Day: December 3, 2023

Bitcoin Price Breaks $40,000, Ethereum Rises Past $2,200

Bitcoin’s price had been toying with the $40,000 level in recent days, but finally breached it Sunday to trade at around $40,130 as of press time, according to CoinGecko data, a 24-hour rise of about 2%. Ethereum was trading hands at $2,205, a similar percent rise over the past 24 hours. Most other top-10 cryptocurrencies by market capitalization marked smaller gains, though BNB coin, a token affiliated with the Binance exchange, was down about 0.1% over the past day. Source CryptoX Portal

Bitcoin tops $40K for first time in 19 months, Matrixport tips $125K in 2024

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Bitcoin (BTC) has reached the $40,000 level for the first time since April 2022, climbing around 2% in 24 hours. Bitcoin surged from under $39,500 to strike above $40,000 on Dec. 3 to hit a 19-month high, according to CoinGecko data. It also marks a new year-to-date high for Bitcoin, which is up over 140% since Jan. 1. It’s down around 42% from its Nov. 10, 2021, all-time high of over $69,000. The price of Bitcoin over the last 12 months, which has gone from under $17,000. Source: CoinGecko In…

Binance ex-CEO faces travel ban; BTC ETF

Changpeng Zhao, Binance’s former CEO, faced a setback; the Bitcoin spot ETF craze continues, with BlackRock and Grayscale modifying their filings; and BTC clinched the $39,000 spot amid a sustained market uptrend. Binance ex-CEO’s travel ban Recall that the U.S. Justice Department argued against letting Zhao leave to the UAE, adding that he might not return to the U.S. to face his sentencing, as the country does not have an extradition agreement with the UAE. This week, District Judge Richard Jones agreed that authorities restrict Zhao from leaving the U.S.…

Dogecoin Rallies To 4-Month Highs, Can Bulls Take It Above $0.3?

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The growth of Dogecoin has lagged this year, but the meme coin recently went on a rally in the last week, hitting four-month highs. The question that still has to be answered is whether or not the cryptocurrency can maintain its momentum and continue to rocket forward.  DOGE started as a meme token but has grown to become an outlier among cryptocurrencies in the past few years. Despite posting a double-digit percent rise in price, the crypto saw itself lagging behind during the late October and early November gains when…

FTX, Alameda Research move additional $22m worth of crypto

FTX, the exchange founded by disgraced entrepreneur Sam Bankman-Fried, and Alameda Research have transferred another substantial sum of cryptocurrency as part of a larger $551 million asset management effort. According to the blockchain analytics platform, Lookonchain, the diverse mix of transferred cryptocurrencies — about $22 million worth — included Ethereum (ETH), Uniswap (UNI),  Shiba Inu (SHIB), and several others. The move follows prior transfers of substantial amounts to well-known exchanges.  These crypto asset transfers are part of FTX’s ongoing bankruptcy proceedings and endeavors to optimize the value of its token…

Top cryptos to watch this week: BTC, ETH, TIA

This week, the global cryptocurrency market cap soared 5% to $1.49 trillion, marking its highest point since the Terra-induced collapse of last May. Several assets — Bitcoin (BTC), Ethereum (ETH) and Celestia (TIA) — registered impressive gains. Bitcoin nears $40,000 Bitcoin has been on a rampage since breaking out of the consolidation in early October. The premier crypto has continued to register impressive bullish closes, and this week was no different. With a 5.41% increase over the past seven days, Bitcoin is on track to record its seventh consecutive bullish…

Inside The Sam Bankman-Fried Story

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In the annals of crypto’s tumultuous history, few stories have gripped the market as intensely as the FTX crypto scam, orchestrated by Sam Bankman-Fried. This massive ponzi, characterized by deceit, manipulation, and a staggering breach of trust, has sent shockwaves across the globe, profoundly affecting FTX investors and shaking the very foundations of the crypto market. Understanding The FTX Scam In a time where crypto was gaining momentum, the FTX scam emerged as a sobering reminder of the volatility and vulnerability inherent in the burgeoning crypto sector. The Rise Of…

Bitcoin nears $40K: bullish indicators suggest momentum

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Bitcoin’s value is approaching the coveted mark of $40,000 — a height it hasn’t experienced since the sudden destabilization of TerraUSD in May 2022. At the time of writing, the value of Bitcoin (BTC) was hovering around $39,653, having seen a 2.1% increase in just 24 hours, according to data from CoinGecko. Bitcoin price chart. Source: CoinGecko BTC’s bolstering indicators, such as the Relative Strength Index (RSI) and the Awesome Oscillator (AO), suggest a positive momentum maintained by the bulls. Per analysts, the increased buying pressure might propel the coin…

Terraform Labs’ strategic move fuels USTC and LUNC rally

This week, Terraform Labs’ Terra Luna Classic (LUNC) and TerraClassicUSD (USTC) have recorded gains of over 130% and 235%, respectively.   Recall that Terraform Labs, the web3 project in charge of the Terra Luna Classic (LUNC) and TerraClassicUSD (USTC) altcoins, strategically deployed $10 million worth of assets across three distinct liquidity pools in November.  This move laid the groundwork for the bullish momentum experienced by USTC and LUNC, demonstrating the profound impact strategic maneuvers can have on the crypto landscape. Crypto analysts comments  Adding a layer to the narrative, a popular…

Binance’s explosive growth led to compliance failures

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“As part of the settlement, CZ cannot be involved in the day-to-day running of the company’s operations,” Richard Teng explains. Despite that, the incumbent CEO of Binance cuts the figure of a man reveling in the challenges ahead. Speaking to Cointelegraph just two weeks after taking over from outgoing CEO Changpeng ‘CZ’ Zhao, Teng seems to be relishing being at the helm of the world’s largest cryptocurrency exchange: “I’m taking the baton and pushing ahead with our growth agenda while working very closely with global regulators.” Teng believes that the…