Day: December 16, 2023

Is El Salvador’s Bitcoin Push Working after BTC Visa Bonds?

Critics argue that El Salvador’s Bitcoin experiment was premature, highlighting the country’s struggles in achieving the ‘Bitcoinization’ of its economy. El Salvador’s foray into the crypto market has been nothing short of controversial, marked by a $117.5 million Bitcoin (BTC) investment that recently pitched on the edge of profitability. President Nayib Bukele’s persistence in the face of international criticism, including opposition from the International Monetary Fund (IMF), raises questions about the true success and impact of El Salvador’s Bitcoin experiment. El Salvador Bitcoin Investments Yields Profits El Salvador made history…

Osmosis Rally Intensifies With 72% Rally

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The price movement of OSMO has demonstrated significant volatility, moving through a largely bearish trend for the most part of the year. But in the last three months, the cryptocurrency has shown signs of a strong comeback and is now entering a phase of strong recovery. Currently, a wide range of technical indicators are available to traders, each of which presents a complex picture of the possible future paths for the OSMO price. Together, these signals create a mosaic of information that help traders traverse the complicated environment in which…

Ripple exec predicts crypto landscape shifts in 2024

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Ripple chief legal officer Stuart Alderoty has shared insights on the future of the cryptocurrency landscape in 2024. He discussed predictions about Ripple’s legal dispute with the United States Securities and Exchange Commission (SEC), the judiciary’s influence on crypto regulations and potential legislative challenges in the U.S. Congress. Alderoty predicts the possible resolution of Ripple’s lawsuit with the SEC in 2024, and he cautions against the SEC’s persistent “regulation by enforcement” strategy, highlighting its potential consequences for the crypto industry. Alderoty predicts a significant role for the judiciary in curbing…

Crypto Analyst Forecasts Cardano Price Surge To $0.70

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Cardano price has had a stop-start performance over the past week, with the bulls struggling to maintain their hold above the $0.60 price level. This comes at a period when the premier cryptocurrency, Bitcoin, has been shedding a portion of its recently-accrued gain.  Interestingly, a popular crypto analyst on X (formerly Twitter) has carried out a detailed evaluation of ADA’s recent price action, providing insight into the Cardano price performance in the near future.  Is ADA Price Set For A Rally To $0.70? In a recent post on the X…

Grayscale mulls over potential tax implications for spot Bitcoin ETFs

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Grayscale is evaluating the possible tax consequences associated with spot Bitcoin (BTC) exchange-trade funds (ETF), prompted by inaccurate reports circulating about unfavorable tax implications. In a series of posts on X (formerly Twitter), Grayscale clarifies that retail investors of the Grayscale Bitcoin Trust (GBTC) are not expected to incur tax implications when the fund sells Bitcoin to generate cash for meeting share redemptions. As we work to obtain the appropriate regulatory approvals to uplist $GBTC to NYSE Arca, we’re considering the potential tax implications for spot Bitcoin ETFs needing to…

Taiwan officials launch inquiry into crypto betting on election results: Report

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With the Taiwan presidential election looming within a month, residents of Taiwan have been reportedly warned against using cryptocurrency betting platforms to wager on the presidential outcome. This advice comes amid an ongoing investigation, with several individuals already called for questioning. According to a recent local report, a number of Taiwanese citizens have participated in the decentralized betting platform Polymarket to place bets on the upcoming presidential election scheduled for January 13, 2024. “The community reported that several individuals have been summoned for investigation by prosecutors and investigators for participating…

Ethereum’s dominance to persist despite Solana’s investor appeal, Coinbase says

Although investors ‘have been heavily’ allocating to Solana throughout 2023, Ethereum will still be the top smart contracts platform in 2024, Coinbase says. In a new report titled “2024 Crypto Market Outlook,” Coinbase noted that throughout 2023, net fund inflows to Solana-related (SOL) investment funds were second only to Bitcoin (BTC), surpassing Ethereum (ETH) and other multi-asset funds flows. Analysts at the U.S.-based crypto exchange attributed the surge in Solana investment to the network’s ability to handle high transaction volumes and low fees, which they say are necessary to support…

Arbitrum Network Faces Major Outage, ARB Token Faces 4% Decline

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Arbitrum (ARB), a prominent Ethereum scaling solution, encountered a significant downtime event on December 15, according to the network’s status page.  The incident prompted an immediate investigation into the root cause and the deployment of a fix. As of the time of writing, the Arbitrum One network remained inaccessible for over 60 minutes due to sequencer and feed issues. Arbitrum Struggles With Network Downtime The status update from Arbitrum acknowledged the problem, stating that the Arbitrum One Sequencer and Feed stalled at 10:29 AM ET amidst a notable surge in…

This defi project may reshape crypto, investors circling

Disclosure: This article does not represent investment advice. The content and materials featured on this page are for educational purposes only. As the year comes to a close, investors have been exploring potent projects. Apart from Ethereum (ETH) and XRP, investors have been exploring BorroeFinance (ROE).    BorroeFinance to resolve liquidity problems One of the disadvantages of building in a new industry is skepticism from investors.  Wall Street and traditional financial institutions hardly fund new projects due to the volatile nature of the cryptocurrency industry.  As a result, blockchain developers created…

Bitcoin (BTC) price prediction for 2024: experts insights

How far Bitcoin might go and what triggers might bring the largest crypto to new heights — read about it in our special report. Bitcoin (BTC), the world’s leading cryptocurrency by market capitalization, has fascinated the financial world with its volatile yet promising trajectory. While its price has always been a subject to fluctuations throughout its history, the crypto community remains optimistic about Bitcoin price outlook in long-term potential. As we approach 2024, the year of the next Bitcoin halving event, there is renewed interest in predicting the cryptocurrency’s future…