Day: January 24, 2024

Bitcoin Price At Risk? Grayscale’s $335M Coinbase Transfer Stirs $30,000 Plunge Potential

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The Bitcoin price has experienced a notable shift as selling pressure mounts, with BTC bears gaining the upper hand. Asset manager Grayscale, the owner and manager of the Grayscale Bitcoin Trust (GBTC), is a significant contributor to this trend.  Since the trading of spot Bitcoin exchange-traded funds (ETFs) began on January 12, Grayscale has been on a selling spree, as evidenced by substantial transfers of BTC to the United States-based crypto exchange Coinbase. Bitcoin Price Under Pressure As Grayscale Selling Spree Continues According to Akrham Intelligence data, in addition to…

Bitcoin Price Faces Crucial Test, Indicators Suggest Many Roadblocks To Recovery

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Bitcoin price dived toward the $38,500 support zone. BTC is attempting a recovery wave and might struggle to climb above the $40,500 resistance. Bitcoin price extended its decline and tested the $38,500 support zone. The price is trading below $40,000 and the 100 hourly Simple moving average. There is a key bearish trend line forming with resistance near $40,450 on the hourly chart of the BTC/USD pair (data feed from Kraken). The pair might struggle to recover above the $40,000 and $40,500 resistance levels. Bitcoin Price Turns Red Bitcoin price…

Exploit On Polygon Contracts Extract $15M, Here Are The Details

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The play-and-own mobile gaming platform GAMEE suffered an exploit of its GMEE token contracts on Polygon that led to the theft of 600 million GMEE tokens and left the crypto community pondering questions. GAMEE Confirms $15M Exploit On Polygon On January 22, GAMEE Token’s official X (formerly Twitter) account advised its users to refrain from engaging with the digital asset while their team investigated the GMEE token-related security comprise it had just suffered. The GMEE token is an ERC-20 utility token “designed to be the currency of access, action, and…

Ethereum Whale Transfers Across Exchanges And DeFi, What Is Going On?

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An Ethereum (ETH) whale has recently executed a series of transactions, carrying out a considerable movement of funds across various platforms. The blockchain analytics platform Spot On Chain initially brought to light this activity, involving roughly $46.02 million in ETH tokens. Deciphering The Whale’s $46M ETH Transfer Across Major Platforms The whale, operating through a network of eight wallets, initiated the withdrawal of these funds from major exchanges, Binance and Bitfinex. The complexity of these transactions did not end there. Following the withdrawals at an average price of around $2,419…

Coinbase, Consensys, others critique US Treasury’s proposed bulk reporting for mixer transactions

Coinbase, Consensys, and Paradigm are urging the U.S. Treasury to reconsider its proposed reporting requirements for crypto mixer transactions, citing a lack of specificity and concerns over resource allocation. In a comment to the Treasury Department’s Financial Crimes Enforcement Network (FinCEN) on Jan. 22, Coinbase stated that regulated platforms already comply with existing rules for recordkeeping and reporting of suspicious activities and illicit crypto mixing. The firm is particularly critical of the proposal’s requirement for crypto platforms to report all crypto mixing activities, including those serving legitimate purposes. Coinbase contends…

Analysts endorse Helium and Pullix, back to all-time highs?

Disclosure: This article does not represent investment advice. The content and materials featured on this page are for educational purposes only. Analysts are exploring Helium (HNT), with some expecting the token to rally. The focus is also on Pullix (PLX), whose presale is ongoing. Helium rallies by 117%  Helium has been bullish since the approval of spot Bitcoin ETFs.  Its year-to-date growth of 117% is supported by the MACD and signal lines, which remain bullish.  Overhead Fibonacci levels indicate a potential surge towards the $8 resistance level.  Helium price predictions…