Day: January 23, 2024

Bitcoin Evangelist Does Not See Bitcoin Hitting $30K

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In the midst of the tumultuous landscape of the price volatility of Bitcoin, a prominent figure stands out, exuding unwavering optimism amidst the chaos: Samson Mow, the self-proclaimed evangelist of the cryptocurrency. Recently transitioning from his Chief Strategy Officer role at Blockstream to assume the position of CEO at Jan3, an entity focused on facilitating Bitcoin adoption at a nation-state level, Mow is placing a substantial bet on the future of the digital gold. Bitcoin Proponent Sees Investor Hopes Dashed Amidst whispers of a potential plunge below the $30,000 mark,…

Ethereum Evening Star Could Mean Lights Out On Bull Run

Ethereum over the last several weeks finally began to gain some strength against Bitcoin and other top performing cryptocurrencies. But in the past few weeks, the upside has since been almost entirely erased. The up – then right back down – price action has formed a potential bearish Japanese candlestick reversal signal. Will ETHUSD continue down further, or surge back into an uptrend? We’ll explore the technical signals to watch for. Ethereum ETHUSD Possible Reversal Signal The two top cryptocurrencies by market cap, Bitcoin and Ethereum, have had an unusual…

FTT surges by 10%, reacting to GBTC shares sell out

The naive token of the cryptocurrency exchange FTX rose sharply amid news of the sale of GBTC shares. According to CoinMarketCap data, over the past 24 hours, the FTT token has risen by more than 10% to $2.83. Trading volumes for the coin skyrocketed by almost 270%, reaching $62.5 million. Source: CoinMarketCap Usually, FTT reacts with a significant price change to FTX’s actions. This time, FTT probably reacted with growth to the news that FTX sold shares of the spot Bitcoin (BTC) ETF to Grayscale Investments for about $1 billion.…

Solana Dominates Ethereum, Bitcoin In NFT, Activity: What’s Next For SOL?

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According to on-chain data from SolanaFloor, Solana is dominating other blockchains, including Ethereum and Polygon, across various non-fungible token (NFT) activity metrics in the third week of January. Solana Dominates Ethereum, Bitcoin In NFT Activity In a post shared on X on January 23, Solana maintained its NFT dominance among competing blockchains, mainly Ethereum and other high throughput alternatives. Thus far, the blockchain has the highest numbers in unique wallets, transactions, unique buyers, and first-time wallets over the past week.  Solana unique wallets | Source: SolanaFloor via X To illustrate, Solana had…

Six Factors Suggest Bitcoin Price Won’t Drop Below $37,800

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In the past month, the Bitcoin price has experienced a significant decline after reaching a 22-month high of $49,000. Currently, the largest cryptocurrency has fallen below the crucial $40,000 mark, raising concerns about the prospects of the ongoing bull run and the overall bullish market structure.  However, there are indications that the bottom of the current downtrend may be near, potentially setting the stage for a potential price reversal. Bitcoin Price To Avoid Plummeting To Low $30,000s Market analyst Marco Johanning sheds light on the situation, offering insights into the…

Ethereum ETF approvals won’t be same as Bitcoin

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SEC Commissioner Hester Peirce said that the Ethereum ETF approval process won’t be the same as Bitcoin, as the SEC has learned several lessons from the spot Bitcoin ETF saga.  In an interview today with Zack Guzmán, Peirce said that the SEC shouldn’t need to be persuaded by a court to approve crypto-backed ETFs eventually. Peirce mentioned that the regulators will change their approval process for ETH ETF applicants, and they will make regular consumer and market considerations, as it does with all ETF products.  “We shouldn’t need a court…

Kaspersky warns of new MacOS malware aiming at crypto wallets

Kaspersky urges MacOS users to be cautious, steer clear of dubious websites, and employ reliable cybersecurity measures in response to a new malware targeting MacOS versions 13.6 and higher. The malware, discovered by the cybersecurity firm, is particularly dangerous as it aims to deceive Bitcoin and Exodus wallet users into downloading a fake, malicious version of their software. According to Kaspersky, the newly discovered malware spreads through pirated applications, diverging from usual proxy trojans or remote control software by specifically targeting wallet applications. “Cybercriminals […] realize that an individual looking…

An Excerpt From ‘The Everything Token’

Moreover, crypto transactions’ instantaneity and finality have meant that they lack many of the protections people are used to from most other online consumer services. Sending an NFT to someone else is like sending an email— as soon as the computer system has processed the transfer, it’s irreversible. This means if you type an address incorrectly, a digital asset could go to the wrong person, or even just be lost in the pipes of the network. Conversely, hacking or account compromise can lead to irreversible loss. (In late 2021, Bored…

Why Does Maxine Waters Care About Meta’s Crypto Patents?

In early 2022, Arun Sundararajan wrote a Harvard Business Review case study about how established brands could utilize non-fungible tokens, aka NFTs, right before the crypto market tanked. In the piece, the Harold Price Professor of Entrepreneurship at New York University’s Stern School of Business tried to make sense of the then-crypto craze, mentioning that tech firms like Twitter and Facebook (now X and Meta, respectively) were allowing more user customization through NFT avatars. Source

Analyst Says “Rapid Price Recovery” Is Likely For Bitcoin, Here’s Why

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An analyst has explained that a Bitcoin price recovery may be highly likely based on this pattern forming in a metric. Bitcoin Coinbase Premium Gap Is Becoming Less Negative In a CryptoQuant Quicktake post, an analyst pointed out how the selling pressure on Coinbase has been diminishing recently. The relevant indicator here is the “Coinbase Premium Gap,” which keeps track of the difference between the Bitcoin prices listed on cryptocurrency exchanges Coinbase and Binance. When the value of this metric is positive, it means that the price listed on Coinbase…