Day: January 22, 2024

XRP Crash Fears Mount As Whale Dumps 26 Million Tokens

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In the world of cryptocurrencies, XRP has once again captured the attention of market enthusiasts with a surge in whale activity. The movement of a staggering 26.8 million XRP tokens has sparked speculation among traders and investors alike. Blockchain data tracked by Whale Alert, a renowned tracker of large cryptocurrency transactions, revealed that an unknown wallet, identified as r4wf7enWPx…5XgwHh4Rzn, transferred the substantial amount of XRP. Ripple’s Strategic Moves Trigger XRP Transfers The tokens, valued at approximately $14.75 million, were sent to Bitstamp, a prominent exchange based in Luxembourg City, Europe.…

SOL, ADA Lead Losses as Market Starts Week in the Red

The crypto market started the week in the red, with Solana’s SOL and Cardano’s ADA leading the losses, having dropped 5% in the last 24 hours. Bitcoin, the world’s biggest cryptocurrency by market value, lost the $41,000 support level early Monday, as the CoinDesk 20, a liquid index of the highest traded tokens, slumped 2.86% in the past 24 hours. Traders expect prices to fall as low as $38,000 in the coming weeks, which could lead to more losses in other cryptocurrencies. Recent downward pressure on bitcoin has been attributed…

Bitcoin Price Turns Red, Why BTC Could Tumble Below $40K

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Bitcoin price started a fresh decline below the $41,250 support zone. BTC is showing bearish signs and might decline heavily below the $40,000 support zone. Bitcoin price is gaining bearish momentum below the $41,500 zone. The price is trading below $41,500 and the 100 hourly Simple moving average. There is a key bearish trend line forming with resistance near $41,320 on the hourly chart of the BTC/USD pair (data feed from Kraken). The pair is now at risk of more downsides if it breaks the $40,000 support zone. Bitcoin Price…

Core Scientific and Iris Energy backer under SEC scrutiny, report says

Crypto-friendly bank B. Riley Financial Inc. is said to be facing an undisclosed investigation from U.S. authorities. The Los Angeles-based investment bank B. Riley Financial Inc. is reportedly under investigation by the U.S. Securities and Exchange Commission (SEC) for its transactions with a client associated with securities fraud, Bloomberg reports, citing sources close to the matter. According to the report, the investigation apparently linked to Brian Kahn, an unnamed co-conspirator in a U.S. Department of Justice criminal case linked to the 2020 collapse of the Prophecy Asset Management hedge fund.…

Terra Classic Community Burns A Staggering 700 Million LUNC And 230,000 USTC

The Terra Classic Community recently had something to cheer about following revelations about the amount of LUNC and USTC token burns that were carried out in the past week. During that period, a significant amount of LUNC and USTC tokens are said to have been burned, something which could positively affect the crypto tokens’ prices.  The Number Of LUNC And USTC Burned In an X (formerly Twitter) post, AlexCryptoBull, a member of the Terra community, brought to the community’s attention how 700 million LUNC and 230,000 were burned last week.…

Cryptocurrency’s Impact on Traditional Banking

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Cryptocurrencies have emerged as a disruptive force within the financial industry, challenging traditional banking systems and reshaping the way people engage with money. With the advent of Bitcoin in 2009, cryptocurrencies have gained widespread attention and rapidly grown in popularity. This article examines the significant impact that cryptocurrencies have had on traditional banking. Decentralization and Disintermediation One key aspect of cryptocurrencies is their decentralized nature. Unlike traditional banks that serve as intermediaries between individuals and their money, cryptocurrencies enable peer-to-peer transactions without the need for a centralized authority. This decentralization…

Bitcoin struggling below $42k, GFOX presale approaches $3m

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Disclosure: This article does not represent investment advice. The content and materials featured on this page are for educational purposes only. In recent market conditions, Bitcoin (BTC) has struggled to stay above $42,000 due to outflows from Grayscale’s Bitcoin Trust (GBTC). Meanwhile, Galaxy Fox (GFOX) is approaching $3 million in presale, pointing to increasing support from the community. GBTC Outflows and BTC struggling below $42,000 The recent approval of Bitcoin’s ETF seems to have significantly impacted the market, with some analysts indicating that it may have marked a short-term top or…

Solana Price Journey – Can It Recover From FOMO Fumble?

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In a twist of fate, SOL, the native token of Solana, navigates through a period of volatility after a robust bullish run that spanned from September to December 2023. The once-surging token has encountered a steady decline over the past three weeks, leaving investors on the edge. Solana Meteoric Rise Falters Amid Corrections Initially hailed for its remarkable performance, SOL skyrocketed by an astonishing 500% since October 2023, with December alone contributing a remarkable 105% gain. The surge was largely attributed to the fear of missing out (FOMO) surrounding Solana’s…

XRP and Litecoin trail Rebel Satoshi in ongoing RBLZ presale

Disclosure: This article does not represent investment advice. The content and materials featured on this page are for educational purposes only. Market experts believe XRP can cross $0.9 in 2024. Analysts predict Litecoin (LTC) can rally by 63% by the end of 2024. Rebel Satoshi rises by 124% in its presale. The CEO of Ripple expects more crypto exchange-traded funds (ETFs) to go live in the future. Meanwhile, BitPay, a crypto payment processor, says Litecoin (LTC) outperformed Bitcoin (BTC) in payment. At the same time, Rebel Satoshi (RBLZ) is increasingly…

Will Bitcoin (BTC) Price Drop below $40k or Breakout above $45k?

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Bitcoin (BTC) price is trading above $41,000 in the early trading hours of Jan. 22, after bulls swung in to avert a reversal below $40,000 with on-chain signals suggesting the sell-off is not over yet.  Bitcoin price has bounced between the $40,000 and $42,000 over the last 3 days as bullish investors look to avoid amplified losses that could arise from losing the $40,000 support.  Amid heightened market volatility, is BTC more likely to break above $50,000 or drop below $40,000? Bitcoin miners cut reserves to 3-Year low  Since the…