Day: January 24, 2024

Crypto Lender Nexo Seeking $3B in Damages From Bulgaria

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OKX announces user compensation plan in wake of OKB price crash

Crypto exchange OKX faced significant market turbulence this week as its native token, OKB, experienced a nearly 50% drop in value in a brief timeframe. OKX has informed its 393,100 followers on X of a comprehensive internal plan to resolve existing issues and has pledged to compensate its users for any additional losses resulting from abnormal liquidation. “The platform will fully compensate users for additional losses caused by abnormal liquidation. The specific compensation plan will be announced within 72 hours,” the exchange stated. As of the latest update, the OKB…

US Bank Foresees Major Bitcoin Price Drop To $20,000

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The crypto space is currently facing bearish signals as the price of Bitcoin has failed to maintain crucial levels at $42,000, slipping to $39,909 at the time of writing. United States financial service provider Deutsche Bank, foresees even more declines in the upcoming months, projecting the value of Bitcoin to dip below $20,000.  Deutsche Bank Predicts Massive Bitcoin Decline Reports from Bloomberg, referencing a recent survey made from January 15 to January 19, 2024, by Deutsche Bank reveals investor’s sentiments regarding the volatility and future trajectory of BTC’s price. The…

New meme coin gains momentum, outperforms XRP and Shiba Inu

Disclosure: This article does not represent investment advice. The content and materials featured on this page are for educational purposes only. NuggetRush is a GameFi project with a unique NFT gaming strategy. XRP has seen a remarkable 244% increase in fund inflows, reaching $2.2 million. Shiba Inu (SHIB) has seen a 1300% surge in whale activity. In crypto, where innovation meets investment, NuggetRush, XRP, and Shiba Inu, continue to draw investor attention.  NuggetRush proposals NuggetRush is a new GameFi project designed with a distinct strategy for NFT gaming.  Unlike most competitors in…

Analyst Predicts Potential Drop To $0.28

Amid the bearish sentiment encompassing the crypto market, XRP has experienced a notable decline to the pivotal $0.51 price, which has led to several predictions from analysts concerning the price action of the token. Could The Price Of XRP Fall To $0.28? One of the well-known crypto analysts who has shared a daring prediction regarding the price action of XRP is JD. JD recently took to the social media platform X (formerly Twitter) to share his insights on the crypto asset with the crypto community. In his projections, the analyst…

You Can Now Play DOOM on Dogecoin as Developer Adds Iconic Game to Network

“The advent of Doginals on the Dogecoin blockchain, akin to Ordinals on Bitcoin, has the potential to revolutionize the way we view blockchain transactions,” @minidogeart said in an X message to CoinDesk. “Embedding digital assets directly into the proof of ownership, Doginals add significant intrinsic value to each transaction. This transformation elevates each exchange from a mere financial transaction to a permanent and secure record of digital asset ownership.” Source

Is Cryptocurrency Different from Bitcoin?

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Cryptocurrency is a type of digital currency that uses cryptography for security. Bitcoin, on the other hand, is a specific type of cryptocurrency. While all Bitcoins are cryptocurrencies, not all cryptocurrencies are Bitcoins. In this article, we will explore the similarities and differences between these two terms. Similarities Both cryptocurrencies and Bitcoins are decentralized forms of digital currency. This means that they are not controlled by any central authority, such as a government or a bank. Instead, they rely on peer-to-peer networks and complex algorithms to validate transactions and maintain…

Real Reasons For Bitcoin Crash Revealed, Not GBTC

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In his latest essay, Arthur Hayes, the founder of BitMEX, articulates a contrarian perspective on the recent downturn in Bitcoin’s price, refuting the mainstream narrative that attributes the decline to outflows from the Grayscale Bitcoin Trust (GBTC). Instead, Hayes points to macroeconomic maneuvers and monetary policy shifts as the real drivers behind Bitcoin’s volatility. Monetary Policy And Market Reactions Hayes kickstarts his analysis by shedding light on the US Treasury’s recent strategic shift in borrowing, a decision announced by Janet Yellen on November 1. This pivot towards Treasury bills (T-bills)…