Day: January 29, 2024

The Surprising History Fueling Germany’s Far Right

Germany is in political crisis. The Alternative for Germany (AfD), a far-right political party, began to rocket in opinion polls last spring. After it entered the federal parliament in 2017—the first time a far-right party had been elected since the 1950s—the party seemed to stall around 10% of the electorate. But no more: the AfD currently sits at around 22%, making it the second most popular bloc in the country. It has also done well in recent regional elections, and Germans are increasingly fearful of how the party will fare…

MakerDAO Co-Founder Cashes Out, Sends MKR Wobbling After $4.5 Million Sell

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Despite starting the year strong, MKR has encountered a choppy path in recent weeks, leaving investors with a mixed bag of signals to decipher. While the decentralized finance (DeFi) leader has maintained its position above key support levels, concerns have emerged surrounding a prominent wallet’s sizeable token sale and a declining trading volume. Maker Resilience Faces Uncertain Shadows On the bright side, Maker has demonstrated resilience amidst broader market downturns. After a notable surge on January 24th, the token has held its ground, defying predictions of a deeper correction. This…

XRP Predicted To Rally 250% After Final Price Dip: Crypto Analyst

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In his latest technical outlook, crypto analyst Dark Defender has highlighted the key takeaways for XRP amid recent price action. Since hitting a yearly high of $0.64 on January 3, the XRP price has dropped -18.8%, leaving it at risk of further downside before the bulls could take over. XRP Price Set For Final Dip? According to the provided daily XRP/USD chart, the price closed below the significant level of $0.5286. As a result, the RSI has been “forced to stay below the Resistance Trend Line,” implying that bears are…

Crypto investors lost nearly $2b over 600+ incidents in 2023, data shows

Analysts at blockchain forensic firm PeckShield say the crypto industry witnessed over 600 hack incidents over the past year. In an X post on Jan. 29, PeckShield released an infographic highlighting the extensive scale of hacker attacks targeting the crypto sector in 2023. According to their data, crypto investors faced losses amounting to $2.6 billion due to illicit activities, with a recovery of nearly $675 million. PeckShield’s findings reveal that investors suffered losses of over $1.5 billion from hacks and an additional $1.1 billion from scam schemes, reflecting a 27.78%…

Banxa Integration Brings Seamless, Low-Cost Fiat On-Ramps to Sui, Off-Ramps Coming Soon – Blockchain News, Opinion, TV and Jobs

GRAND CAYMAN, Cayman Islands, January 29th, 2024, Chainwire Users will benefit from 0% gateway fees for accessing SUI tokens on Banxa for a limited time.* (*Fee waiver is not available for UK customers) Banxa, the leading payments infrastructure provider for the crypto-compatible economy, has announced it will add the SUI token to its platform. The integration will increase access to the Sui blockchain for users across the world, thanks to a suite of Banxa’s global and local payment methods, which have processed over $3 billion in transactions since its launch…

13% Surge Sends AVAX Rumbling

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AVAX, the ninth-largest cryptocurrency by market capitalization, has defied recent selling pressure, experiencing a notable 13% surge in the last 24 hours. This rally propelled the Avalanche Network token to a 10-day high of $36, sparking optimism among investors for a more sustained upward trend. Analysts attribute this positive momentum to two key factors: the increased activity on a decentralized social app called The Arena and the introduction of a groundbreaking scaling solution by Ava Labs. Solid Run: AVAX TVL Soars 27% The Arena, a SocialFi platform built on the…

A Backdoor Regulatory Option Haunts U.S. Crypto

The systemic-risk watchdog’s most recent mention of virtual assets came in its annual report last month, which again highlighted crypto as a potential emerging hazard to the health of U.S. finance. The regulators are especially concerned over stablecoins, the tokens matched to the value of steady assets such as the U.S. dollar, which are generally used as a means to buy and sell volatile digital assets. On the surface, the council’s calls for crypto legislation seem supportive of lawmakers’ aims. But the report again added a kind of warning. “The…

Asset outflows from crypto funds reach $500m in the last week

Digital asset investment products saw significant outflows last week, totalling $500 million. Analytics company CoinShares presented a report on the flow of funds in investment products based on cryptocurrencies from Jan. 20 to Jan. 26, 2024. According to available information, Grayscale Investments’ spot Bitcoin (BTC) ETF played a central role in the report. Over the week, the outflow of funds from the crypto fund exceeded $2.2 billion. At the same time, the total amount of withdrawn assets crossed the $5 billion mark. Source: CoinShares At the same time, the investment…