Day: January 26, 2024

Analyst projects Ethereum potentially to $2k amid market consolidation

FxPro senior analyst Alex Kuptsikevicha projects Ethereum’s price could further dip towards $2,000, as the altcoin is down by over 8% weekly.  The crypto market is experiencing a period of subdued volatility, with the total market capitalization hovering around $1.6 trillion for the third consecutive day. Simultaneously, equity indices in the stock market have also significantly declined in the past 24 hours. However, the impact on cryptocurrency investors has been minimal. Kuptsikevich thinks that the fall in stock values is seen more as a result of individual corporate stories rather…

Expert Predicts Testing $20K Before Rebound

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Bitcoin, the largest cryptocurrency in the market, experienced a price recovery on Friday; however, industry experts anticipate a further test of sub-$30,000 levels in the near term.  The prolonged downtrend observed over the past fourteen days, coupled with mounting selling pressure, has raised concerns about the sustainability of the recent rebound. BTC’s Local Bottom Predicted Chris Burniske, co-founder of a New York-based venture crypto firm, highlights several factors contributing to the anticipated downward movement of Bitcoin.  Burniske suggests that the consolidation phase may extend longer than expected due to many…

Why SHIB Could Outperform Dogecoin Price in February 2024

Dogecoin and Shiba Inu have posted identical price performance in January, with the two largest memes coins shedding 17% as of Jan. 26. Positive speculations about a proposed XPayments platform were a major driver for both Shiba Inu (SHIB) & Dogecoin (DOGE) communities during the month, but as bearish headwinds swept across the broader crypto market, the mega-cap memecoins also succumbed to downward pressure.  Notably, Dogecoin miners’ recent trading activity could see DOGE prices fall behind SHIB in the weeks ahead.  DOGE and SHIB posted identical performance in January  With…

Ripple CTO Explains How AMM Feature Will Enable XRP Holders To Earn Passive Income

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The decentralized open-source blockchain, XRP Ledger, is set to introduce more innovative solutions to XRP holders through its new Automated Market Maker (AMM) feature. The XRP community is currently buzzing with excitement as the Chief Technology Officer (CTO) of Ripple, David Schwartz, unveils how the AMM offers a unique avenue for earning passive income. XRPL AMM To Empower XRP Holders In a recent X (formerly Twitter) post, Schwartz discussed the ways an XRPL AMM could provide opportunities for XRP holders to make regular income through the AMM’s distinct trading mechanism. …

Silk Road drug lord forfeits $150m in DEA’s largest ever crypto seizure

A Silk Road drug lord who was extradited from the U.K. admits to operating an illicit drug network and surrenders $150 million in crypto.  According to the U.S. Department of Justice, Banmeet Singh, a 40-year-old individual from Haldwani, India, has pleaded guilty to operating an illegal drug distribution network. He utilized various dark web platforms, including notable ones like Silk Road, Alpha Bay, and Hansa, for selling an array of controlled substances.  Singh’s operation involved customers placing orders through his online storefronts and paying in cryptocurrencies. He then facilitated the…

Bitcoin sent to ETF wallet to benefit fund investors

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Bitwise has publicly disclosed its Bitcoin ETF fund wallet, attracting unsolicited Bitcoin from ETF supporters. Bitwise, a prominent player in the field, became the first issuer of a spot Bitcoin ETF to reveal the wallet address for its fund publicly. Shortly after this disclosure, the wallet began to receive an array of unsolicited contributions. Unexpectedly, individuals began sending small quantities of Bitcoin to the wallet, with amounts such as 0.00042069 BTC. Additionally, the wallet received various BRC-20 tokens, Bitcoin domain names, and a collection of Bitcoin NFTs. The total value…

DAOs Are Not the Next Home for Online Extremism

When we see largely peace-loving, crypto-nerd, not-racist, “DAOs” use virtually identical communications facilities, we should not also conclude that this makes crypto people extremists, or that this makes DAOs friendly to extremists, or even that DAOs are appropriate for extremists. It means that DAOs, like many other online communities which use Discord and make it one of the most popular social media applications in the world, including political movements, all emphasize participation over secrecy. Adding a DAO into the mix does not create a “safe haven” from anything, and certainly…

Analyst Predicts Bitcoin to Hit $250,000 Before Halving

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In a post shared on X on January 26, crypto analyst BitQuant forecasts that Bitcoin (BTC) will recover from the current downtrend and surge past its all-time high of $69,000 to over $250,000 before the upcoming Bitcoin halving in April. BTC to $250,000 before halving | Source: BitQuant on X Bitcoin To $250,000 Before Halving? From the chart shared, BitQuant notes that Bitcoin is still trending inside a rising channel. Out of the multi-year uptrend that the coin is in, this channel’s next “touch” is projected to be at around $250,000. For…