Month: January 2024

Crypto Pundit Says Cardano Rivals XRP Community, But Why Is ADA Price Struggling?

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Cardano has consistently remained one of the largest cryptocurrencies in the industry with the price of its native ADA coin following the crypto market rally. However, it has not performed as well as other cryptocurrencies despite its marked popularity among investors. Given this, crypto pundit Ben Armstrong, popularly known as BitBoy, has shared his views on why the network is struggling. Cardano Struggles Through Misinformation One of the problems that the crypto analyst mentioned that Cardano has run into over the years is the fact that there has been misinformation.…

Nigerian central bank publishes rules for opening crypto accounts

Nigeria’s apex bank expanded on its decision to reverse a crypto ban on financial service providers, providing clear rules to oversee operations moving forward.  The Central Bank of Nigeria (CBN) announced stringent rules for banks as the watchdog pivoted away from a blanket crypto ban toward regulation for virtual asset service providers, citing a need to align with global trends underpinned by blockchain technology and digital assets.  According to the CBN, operators like crypto exchanges and digital asset brokers can only open naira-denominated bank accounts. Nigeria’s top bank also said…

Buy these crypto stocks in possible explosive year for bitcoin

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Investors should take a long position in crypto now or be sorry later, says Bernstein. The Wall Street firm published an extremely bullish 2024 crypto market outlook this week, predicting bitcoin will hit a new all-time high in the second half and could close the year at about $80,000, or roughly 88% above current levels. It also forecasts bitcoin will reach $150,000 in 2025. “We expect 2024 to be a break-out inflection year for crypto,” Gautam Chhugani, Bernstein’s lead crypto analyst, wrote in the note. “Not being long crypto —…

Bitcoin Plunges Below Support As Price Crashes To $42,500

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Bitcoin appeared to have been securely floating above support just earlier, but today, the picture has changed as the price has suddenly crashed to $42,500. Bitcoin Has Crashed More Than 6% During Past 24 Hours Bitcoin had kicked off 2024 with some sharp bullish momentum as the market had been looking toward the potential ETF approvals with hopeful eyes. The asset had only been at the $45,000 level not seen since April 2022 for just a couple of days before the price suddenly crashed. The chart below shows how cryptocurrency…

Why Bitcoin Price (BTC) Flash Crashed to $40K? Here’s What Crypto Analysts Say

BTC dropped to a low of $40,800 from around $45,000 within hours during early Wednesday, CoinDesk Indices data shows, roughly around the time when Singapore-based digital asset firm Matrixport published a report penned by Markus Thielen forecasting the U.S. Securities and Exchange Commission to reject all spot bitcoin ETF applications, overturning its Tuesday outlook projecting an imminent approval and a BTC rally to $50,000. Source

SEC holds urgent meetings with Nasdaq and NYSE to discuss Bitcoin ETFs

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The SEC is holding meetings today with major exchanges, including the New York Stock Exchange, Nasdaq, and the Chicago Board Options Exchange (CBOE), regarding spot Bitcoin ETFs.  The information was revealed by a Fox Business journalist earlier today, bringing some sense of relief for the wider crypto community after crypto services firm Matrixport reported that the SEC would likely reject all ETF applications in January. This report triggered a major liquidation in today’s market, as the crypto market lost more than $540 million in just four hours.  🚨SCOOP: The @SECGov…

Approval of Bitcoin ETF could boost investment from non-crypto users

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A recent Security.org report indicates a 10% year-over-year increase in U.S. cryptocurrency ownership, with 46% optimistic about the potential positive impact of Bitcoin ETF approvals in 2024. Based on a survey of 1,500 Americans, 40% currently own cryptocurrency, and of those not yet involved in crypto, 15% expressed an intention to make a purchase in the coming year. Additionally, 21% revealed they would be more inclined to invest if a spot Bitcoin ETF is approved. Security.org survey results Respondents expressed optimism regarding the impact of Bitcoin ETF approvals in 2024,…

Arbitrum Reaches Major Milestone In TVL As Price Rallies

Arbitrum (ARB), a layer 2 (L2) protocol has achieved yet another major milestone in its Total Value Locked (TVL) reaching new heights, following a surge in the crypto asset’s price. Arbitrum Sees Surge In Total Value Locked (TVL) According to the L2beat platform, Arbitrum’s TVL recently went past the $10 billion mark putting it in the spotlight. Data from the analytics firm reveals that the network’s TVL is currently at $10.36 billion. L2beat’s report shows that Arbitrum One’s TVL soared by a remarkable 16.49% over the past seven days. With…

Solana’s Surge: Boom or Temporary Bounce?

SOLANA: BOOM TIMES OR BLIP? Solana’s SOL token, which crashed in price from over $200 in 2021 to under $10 in 2022, has buoyed back above $100 in recent months, making it one one the biggest beneficiaries of the recent crypto market surge. The Solana blockchain was pilloried last cycle for its close ties to Sam Bankman-Fried and its spotty track record of network outages. SOL’s latest price gains have been viewed by some as a signal of wider confidence in the ecosystem – an indication that traders see sordid…

ApeX reports 203% gains amid market downturn

According to CoinGecko data, ApeX, the token behind the decentralized derivatives protocol, was reported as the top gainer on Jan. 3. These gains come in contrast to a declining market, which has experienced a 7.2% decrease in market cap overall. In contrast, ApeX (APEX) over the last seven days, ApeX has recorded a substantial price increase of 203%, while the global cryptocurrency market has experienced a decline of 3.3%. APEX Price | Source: CoinGecko The current price of ApeX stands at $1.02, reflecting a 203% surge in the last 24 hours and an…