Month: January 2024

Ukraine’s anti-corruption head candidate appears to be altcoin bagholder

A candidate for the head of Ukraine’s anti-corruption agency appears to be DOGE and LUNC holder, according to an official declaration. Kateryna Kapliuk, a former journalist at Ukrainska Pravda and current candidate for the head of Ukraine’s National Agency on Corruption Prevention (NACP), disclosed in her declaration she had acquired over 30 altcoins during her tenure at the agency. According to the document, Kapliuk, who joined NACP in 2020 as an advisor to NAPC Chairman Alexander Novikov, was buying multiple cryptocurrencies until mid-2022, with a total sum of 127,165 UAH…

SOL Price Reaches Make-or-Break Levels – Can Solana Pump Again?

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Solana is moving lower from the $120 resistance. SOL price is showing a few bearish signs and might decline sharply toward the $80 support. SOL price started a fresh decline from the $120 resistance against the US Dollar. The price is now trading below $102 and the 100 simple moving average (4 hours). There is a key contracting triangle forming with resistance near $102 on the 4-hour chart of the SOL/USD pair (data source from Kraken). The pair could continue to move down toward the $85 support or even $80.…

Tokenization in 2024 – Exchanges Need To Build Trust

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HodlX Guest Post  Submit Your Post   In 2023, the market for tokenized business assets grew by between 16% and 23% in CAGR (compound annual growth rate). Still, even the most optimistic valuations agree that tokenized assets currently account for less than 11% of crypto’s total valuation. While some dub tokenization a failed technology, the macro trends for its adoption are finally gaining steam. According to DeFi Llama and Fed’s research, the fraction of real-world assets in DeFi more than doubled over the last year. The European Investment Bank now issues…

Ethereum Price Dips Alongside Bitcoin, Decoding Key Hurdles To Fresh Increase

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Ethereum price struggled to rise above $2,550 and $2,580. ETH started a fresh decline like Bitcoin and traded below the $2,500 support zone. Ethereum attempted a fresh increase but failed to surpass $2,550. The price is trading below $2,500 and the 100-hourly Simple Moving Average. There is a connecting bearish trend line forming with resistance near $2,480 on the hourly chart of ETH/USD (data feed via Kraken). The pair continue to move down if there is a move below the $2,425 support. Ethereum Price Extends Decline Ethereum price struggled to…

Down Big: Crypto Scamming Numbers Reduced In 2023

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2023 started with a challenging overall landscape for the crypto market that continued throughout the rest of the year. However, the market saw a recovery with a spike in bullish sentiment and ended the year on a positive note. Additionally, 2023 saw a decline in crypto scamming and crypto-related illicit activity compared to the previous year, as new data shows. Illicit Activity Market Revenue Decline In 2023 American blockchain analysis firm Chainalysis released its 2024 Crypto Crime Report detailing the trends and figures that crypto-related illicit activities saw in 2023.…

Aggregate stablecoin supply sees largest increase since October

Glassnode data recorded a $4.1 billion monthly increase in the aggregate stablecoin supply, a 21-month high for fiat-pegged cryptocurrencies following bullish momentum.  Since October last year, stablecoin supply has shot up steadily with Bitcoin’s price uptick. This ascent has impacted the aggregated stablecoin market cap, which stood above $128 billion as of Jan. 18. The increase marks the largest inflow since March 2022. Tether’s USDT dominated the scene with nearly 73% in market share. The market’s second-largest stablecoin, Circle USD Coin (USDC), followed with a 19% share.  Binance USD (BUSD)…

Is MATIC Facing A Trust Crisis?

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Recently, the blockchain intelligence firm ChainArgos brought to light some unsettling findings about the Polygon network. According to ChainArgos, suspicious transaction patterns have emerged, raising questions about Polygon’s adherence to its initial token allocation plan. ChainArgos’ investigation revealed multiple transactions from Polygon’s network to various exchanges seemed “questionable.” Particularly, the firm pointed out “anomalies” in the flow of tokens from Polygon’s vesting contract, which is responsible for the systematic release of tokens. This contract, distinct from the foundation contract that governs overall allocations, displayed inconsistencies in outflow patterns. The firm’s…

Analysts predict a major Bitcoin supply shock before the halving

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Analysts anticipate a major Bitcoin supply shock heading into April’s halving as BTC is down by nearly 10% since ETF approval.  Bitcoin’s supply dynamics have significantly changed since the SEC approved spot Bitcoin ETFs earlier this month. The leading token has been largely volatile in the past few weeks, but this volatility has remained within a very narrow price range. BTC’s price has fluctuated between $41,000 and $44,000, dropping below $41,500 today, the lowest price in 30 days.  Analysts attribute these short price movements to supply dynamics driven by the…

Bitcoin decreases 12% to below $42k following spot ETF hype

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Following the anticipated launch of spot Bitcoin ETFs and the expectation of a price surge, Bitcoin has seen a pullback to $41,825, according to a Jan. 18 post on CoinGecko. Bitcoin (BTC) had initially made headlines for hitting $49,000 for the first time since December 2021, as trading opened for spot BTC ETFs across major U.S. exchanges. However, the price of the world’s largest cryptocurrency has since decreased in what some predict might be the start of a larger pullback. The approval of spot Bitcoin ETFs on Jan. 10 was recognized…