Day: December 11, 2023

Which One Has Had A Better Impact?

Both the Shiba Inu and the LUNC tokens have seen their growth hindered by the fact that their circulating supply is incredibly large. As a way to curb this, both communities have come up with a burn initiative to reduce the supply of the tokens as much as possible. So far, there have been significant amounts of tokens sent to burn addresses by members of the community. But which community’s effort has had the best impact on the token price? LUNC Community Hits 85 Billion Mark The LUNC community burn…

Analyst says Bitcoin’s fall no reason to panic

boss

A popular cryptocurrency analyst known for his YouTube channel, CryptosRUs, issued a call for calm after Bitcoin saw a steep price decline over the weekend. On Dec. 11, Bitcoin (BTC) fell from around $44,000 down to $40,000, a drop of nearly 10% in a short period. It has since rebounded slightly to around $42,000 at the time of this writing. According to the analyst, a few potential factors are behind this sudden fall. One is an upcoming meeting between major central banks, such as the European Central Bank, to discuss…

VanEck predicts record high for Bitcoin in late 2024

boss

VanEck predicts Bitcoin will hit a new all-time high on Nov. 9, 2024, based on its observed three-year price cycle. The statement was released at the Digital Asset Summit 2024 as this forecast is notably marked on the third anniversary of its previous record peak of $69,000. VanEck’s prediction seems grounded in a pattern observed within Bitcoin’s historical price movements. The fund manager highlights a peculiar cyclical trend, noting that Bitcoin’s previous significant surge in November 2020 also occurred precisely three years following its substantial peak in November 2017. This…

Digital asset investment inflows hit $43m in 11th consecutive week

According to a Dec. 11 CoinShares report, digital asset investment products have hit the 11th consecutive week of inflows at $43 million.  When comparing regions, Europe led with $43 million in inflows, while the U.S. followed with $14 million, half of which was allocated to short positions. Bitcoin as a focal point As stated in the report, Bitcoin (BTC) remains a crucial focus, attracting $20 million in inflows, bringing the year-to-date total to $1.7 billion. Notably, short positions on Bitcoin received $8.6 million in inflows, reflecting concerns about the sustainability…

Major Events That Could Affect Price This Week

boss

The flagship cryptocurrency, Bitcoin, is currently flying high on the back of potential approval of the pending Spot Bitcoin ETF applications in January. However, this upward trend could cool off as this prominent crypto analysis platform outlined key events that are set to happen this week. “Huge Week Ahead” For Bitcoin In a post shared on their X (formerly Twitter) platform, The Kobeissi Letter noted that the November CPI Inflation data is coming in this week. Specifically, it is set to be released on December 12. Meanwhile, The Federal Open…

CZ must stay, Do Kwon to be extradited: Law Decoded

boss

Binance founder Changpeng “CZ” Zhao has been ordered to stay in the United States until his sentencing in February 2024, with a federal judge determining there’s too much of a flight risk if the former exchange CEO is allowed to return to the United Arab Emirates. Seattle district court Judge Richard Jones wrote in his order: “The defendant has enormous wealth and property abroad, and no ties to the United States […] His family resides in the UAE and it appears that he has favored status in the UAE. Under…

HTX marks $250m outflow post November hack

Massive outflows emerged from the crypto exchange following security breaches at three Justin Sun-affiliated platforms, including Heco Bridge and Poloniex.  Crypto users withdrew assets worth an estimated $258 million between Nov. 25, after HTX resumed operations, and Dec. 10, per DefiLlama data, indicating doubts regarding safety at the crypto exchange. The net outflows occurred following a Nov. 22 hack on HTX, resulting in over $23 million siphoned from the platform formerly called Huobi. Heco bridge, a Sun-backed cross-chain protocol, was also exploited for around $85 million. The total losses suffered…

FIFA launches NFT collection amid 2023 Club World Cup

boss

Fédération Internationale de Football Association (FIFA), the body governing international soccer competitions, will launch its own nonfungible token (NFT) collection ahead of the 2023 Club World Cup in Saudi Arabia in collaboration with blockchain firm Modex. According to the Dec. 11 announcement, an inaugural collection of 100 NFTs will premiere on Dec. 15 and feature the chance to secure tickets to the FIFA World Cup 2026 final. In addition, a total of 900 other digital collectibles will be issued on the Polygon network and OpenSea this month, comprising memorable moments from the…

Crypto Exchange Binance Announces Upcoming Listing for New Low-Cap Altcoin Project

boss

Top global crypto exchange Binance is about to list a new gaming-related altcoin project, according to the company. In a new announcement, Binance says that it will add Fusionist (ACE) to its Launchpool platform, which allows users to stake coins in exchange for new ones. ACE is the native token of Endurance, a decentralized gaming and social blockchain, which Fusionist, a Web3 AAA game, will use as its mainnet. Staking of ACE is expected to start Wednesday, Binance says, and open trading of the altcoin could begin December 18th. When…

Injective Protocol’s Social Activity Rising: Is INJ About To Explode?

boss

According to AlphaScan data on December 12, social media activity on Injective Protocol (INJ) has steadily increased in the past day and week. This surge in interest has propelled INJ to the second-most mentioned token on social media, trailing only Bitcoin (BTC). Injective Social Media Activity Rising Specifically, data reveals that INJ received nearly 30% of its weekly mentions in the past 24 hours alone. Furthermore, 37% of all monthly mentions of INJ occurred in the past seven days, further highlighting the growing attention surrounding the project.  While this is impressive…