Day: December 13, 2023

Crypto analyst remains bullish on Cardano despite market turbulence

A prominent crypto analyst who goes by the name LuckSide Crypto shared an upbeat outlook on Cardano in his latest YouTube video on Dec. 12th. Despite the market performing like dog crap right now, ADA’s actually been pretty resilient. LuckSide Crypto While acknowledging the broader turbulence, he cited technical analysis indicators that suggest Cardano (ADA) may be bottoming out and poised to break out. Specifically, the LuckSide Crypto host pointed to a bullish pennant pattern forming on ADA’s price chart, typically signaling a continuation of the prior trend. We’re printing…

Bitcoin Price (BTC) Higher After Fed’s Dovish Pause

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The price of bitcoin (BTC) added just less than 1% to previous Wednesday gains, now higher by 2.2% to $42,370. A check of traditional markets finds rates tumbling, with the 10-year Treasury yield down 12 basis points to 4.08%, its lowest level since August. U.S. stock market averages have moved to session highs, the S&P 500 now up 0.6%. The price of gold is higher by just less than 1% to $2,013 per ounce and the dollar index is lower by about 0.5%. Original

Bitcoin Sees Surge In Whale Activity, Will This Affect Price?

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Recent reports have revealed that Bitcoin (BTC) is experiencing a significant surge in whale activity, which has since caused quite a stir in the entire crypto community. Bitcoin Experiences Surge In Whale Transactions  According to Whale Alert, Bitcoin has been displaying a surge in whale transactions over the past 24 hours.  The crypto tracker recently revealed several whale transfers from unknown wallets to crypto exchanges such as Binance and Coinbase.  The report shows that Binance amassed a whale inflow of over $67 million from the transfers. Meanwhile, Coinbase amassed a…

US accounting standards board rules will reflect institutional crypto assets’ fair value

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Crypto companies and institutions holding crypto assets have gotten some good news about accounting practices. They will be able to record the value of their crypto more realistically under rule changes in the United States.  The Financial Accounting Standards Board (FASB) finalized the new rules on Dec. 13. The FASB is the organization that sets accounting and reporting standards for the U.S. Generally Accepted Accounting Principles (GAAP). GAAP-standard financial reports are required from companies that trade on public markets in the United States. Related: New crypto accounting guidelines could ‘smooth…

BTC, ETH, BNB, XRP, SOL, ADA, DOGE, AVAX, DOT, MATIC

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Bitcoin (BTC) has failed to rebound sharply following the fall on Dec. 11, suggesting selling pressure on relief rallies. Glassnode data shows that short-term holders (STHs), entities holding Bitcoin for 155 days or less, sent $1.93 billion worth of Bitcoin to exchanges on Dec. 11 and $2.08 billion on Dec. 12. The last time single-day selling crossed the $2 billion mark was way back in June 2022. This shows that speculators are in a hurry to dump their holdings. However, lower levels are attracting buyers. Trading resource Material Indicators suggested…

BONK, PEPE and SHIB are a menace to crypto

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In 2013, the launch of a dog-themed crypto token as a private joke between a couple of software developers was a harmless piece of fun. The fact that Dogecoin (DOGE) has since amassed a market capitalization greater than $13 billion (as of Dec. 13) is beyond the understanding of most investors, but it seems like it’s here to stay. However, the sector that DOGE has inspired is becoming a menace to an industry that needs to evolve. Memecoins are dangerous. They are dangerous because the large majority of those who…

Crypto Pundit Predicts That XRP Price Will Rise “Dramatically,” Here’s When

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Crypto analyst Austin Hilton is the latest to give his opinion on the future trajectory of the XRP price going forward. Specifically, Hilton noted two events that will spur XRP’s price to go up “dramatically.” The analyst also outlined other metrics that present a bullish sentiment for the XRP ecosystem.  Major Events That Will Cause XRP Price To Rise In a video shared on his YouTube Channel, Hilton singled out the approval of Spot Bitcoin ETFs and the upcoming Bitcoin Halving as the two events that will cause XRP’s price…

Web3 chess game developer shutters play-to-earn due to ‘heavy cheating’

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Developers of the blockchain chess game Immortal Game are pulling the plug on its play-to-earn (P2E) and nonfungible token (NFT) features due to rampant cheating. According to the Dec. 13 announcement, while developers continue to build Immortal Game as an online chess hub and may incorporate further decentralized technologies in the future, its goal of “giving a real opportunity for people to earn an income through chess” through Immortal Game has failed. “We found that by offering large amounts of cash with no limit barrier to entry, we encouraged heavy…

Iota’s ShimmerEVM joins Fireblocks, targets demand for assets tokenization

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Open-source blockchain developer Iota has taken another step to meet institutional demand for asset tokenization by integrating its Shimmer Ethereum Virtual Machine (EVM)-compatible chain with Fireblocks. Data from VanEck Research shows the total market capitalization for tokenized real-world assets (RWA) reached $342 billion in September despite the bear market and the crypto industry headwinds. According to Dominik Schiener, co-founder of Iota, the network is building infrastructure and solutions to address the escalating demand for real-world asset (RWA) tokenization. “We can expect many large institutional investors and financial institutions to give…