Day: December 15, 2023

Gemini Earn creditors face potential 70% cut in crypto payouts

Gemini Trust has proposed a reorganization plan that could result in creditors of its Gemini Earn program facing up to a 70% reduction in their expected cryptocurrency payouts. Gemini Trust announced through an X post on Dec. 13 that it had dispatched an email to creditors outlining the proposed payout plan, which has now been put up for a vote. Under the proposed plan, creditors are set to receive payouts corresponding to their Earn crypto balances as of Jan. 19, 2023, the date when Genesis Global Capital, Gemini’s crypto lending…

Injective Soars Over 70% Amidst AI Uptick

With the token touching $31.35 early on Friday, the injective (INJ) price formed a new all-time high, suggesting that it has recovered all of its losses. In the cryptocurrency industry, altcoins are gaining traction because most of them have started to rise and are outperforming the leading cryptocurrency, Bitcoin. A couple of the stronger altcoins lately are Avalanche, Bonk, and Solana. INJ, an altcoin that has been making positive noise of late, has attracted a lot of interest as it managed to retain a steady momentum, to the delight of…

ADA Price Surges Over 35% In Few Days, Can Bulls Pump Cardano To $1?

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Cardano (ADA) is gaining pace above the $0.60 resistance. ADA could rally further if there is a clear move above the $0.685 and $0.700 resistance levels. ADA price is moving higher above the $0.600 pivot level. The price is trading above $0.620 and the 100 simple moving average (4 hours). There is a key bullish trend line forming with support near $0.6020 on the 4-hour chart of the ADA/USD pair (data source from Kraken). The pair could accelerate higher toward the $0.800 level or even $1.00 in the coming weeks.…

Solana phone sales skyrocket as degens scramble for pumped-up BONK

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Memecoin hopefuls have been snapping Solana’s crypto phone in droves after a recent price hike for Solana memecoin Bonk (BONK), which has risen more than 1,100% in the last 30 days.  Since the Solana phone was launched on May 8 this year, new owners have been able to claim a free 30 million airdrop of the memecoin, but a recent rise in the token’s price has presented an interesting arbitrage opportunity for buyers. “Solana phone sales have >10x’d in the past 48 hours, and are now on track to sell…

Even the Pope has something to say about artificial intelligence

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Over the past year, there’s been no shortage of scientists, tech CEOs, billionaires and lawmakers sounding the alarm over artificial intelligence — and now, even the Pope wants to talk about it too. In a hefty 3,412-word letter dated Dec. 8, Pope Francis — the head of the Catholic Church — warned of the potential dangers of AI to humanity and what needs to be done to control it. The letter came as the Roman Catholic Church prepares to celebrate World Day of Peace on Jan. 1, 2024. Pope Francis…

Ethereum Price Holds 100 SMA But Needs To Clear This For More Gains

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Ethereum price is consolidating above $2,250. ETH could start a fresh increase if there is a clear move above the $2,320 resistance zone. Ethereum started a fresh increase above the $2,200 and $2,220 levels. The price is trading above $2,240 and the 100-hourly Simple Moving Average. There is a key rising channel with support near $2,275 on the hourly chart of ETH/USD (data feed via Kraken). The pair could start a steady increase if there is a close above $2,320 and $2,350. Ethereum Price Eyes More Upsides Ethereum price started…

Gensler hints Grayscale ruling forced SEC to take ‘new look’ at Bitcoin ETFs

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United States Securities and Exchange Commission (SEC) chair Gary Gensler has hinted that the regulator has been rethinking its approach to spot Bitcoin (BTC) exchange-traded products following a recent Grayscale court decision. Speaking to CNBC on Dec. 14, Gensler was questioned about the long list of pending spot Bitcoin exchange-traded fund (ETF) applications. He said the SEC has “between eight and a dozen filings” going through the process at the moment. “We had in the past denied a number of these applications,” he said before adding that the courts have weighed…

Goldman Sachs forecasts dramatic surge in blockchain asset trading volumes by 2025

The Wall Street financial giant Goldman Sachs says the market is about to see a ‘significant uptick’ in the quantum trading on-chain within the next two years. Goldman Sachs is anticipating a significant uptick in trading volumes of blockchain-based assets within the next few years as demand for distributed ledgers keeps surging. In a recent interview with Reuters, Goldman Sachs’ global head of digital assets, Mathew McDermott, said the New York-headquarter bank sees a “huge appetite” for digital assets, adding that the trend has “grown significantly” since the beginning of…

Bitcoin Price Uptrend To Continue? These Could Be The Factors To Watch

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Bitcoin price is attempting a fresh increase above the $42,200 level. BTC could surge once it clears the $43,350 resistance zone in the near term. Bitcoin started a fresh increase above the $42,000 support zone. The price is trading above $42,200 and the 100 hourly Simple moving average. There is a key bullish trend line forming with support near $42,400 on the hourly chart of the BTC/USD pair (data feed from Kraken). The pair could continue to move up if there is a clear move above the $43,350 resistance. Bitcoin…