Day: February 7, 2024

Dogecoin Adoption Explodes In Stunning Move, Can DOGE Chart A Path To $0.2?

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The Dogecoin adoption trend has taken the crypto market by surprise after the number of new wallets being created on the network skyrocketed. Last week, new wallet creations were the center of attention as more than 890,000 new DOGE wallets were added in a single week. This time around, a new Dogecoin metric is taking the stage. New Non-Zero Dogecoin Addresses Rise Rapidly In a new report, the on-chain data tracking platform Santiment has identified rapid growth in one Dogecoin metric and that is the number of new non-zero addresses.…

Hedera’s 15% Price Rally at Risk as SHORT traders Dominate

HBAR price rose 15% on Feb. 6 to reach a 20-day peak of $0.78, hours after the Hedera team confirmed a $250 million agreement with the Saudi Arabian Ministry of Investment. Hedera’s recent five-year partnership agreement with the Saudi Arabian government has initiated positive price action. But notably, a vital market metric suggests derivatives traders could scuttle the HBAR price rally.  Hedera price soared 15% as investors reacted to Saudi partnership  HBAR price has been trending down since the crypto market correction that heralded the Bitcoin ETF approval in mid-January.…

Wright presents 2008 documents citing Bitcoin Cash

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On the third day of Cryptocurrency Open Patent Alliance (COPA) v. Craig Wright, the defendant presented a document referring to Bitcoin Cash (BCH) dating back to 2008. Bitcoin Cash was created almost a decade after the 2008 document was allegedly written, with BCH coming to the forefront in 2017. Unlike yesterday, when COPA claimed visible forgery in Wright’s Bitcoin origin document titled “Nakamoto is the Japanese Adam Smith”, this document’s metadata also goes back to 2008, with no potential evidence of forgery.  Wright also presented a document dating back to…

Bitcoin On The Brink: Is A “Big Move” Imminent?

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The state of Bitcoin (BTC) price action across multiple time frames has analysts at the edge of their seats. As of February 7, various technical formations suggest that the leading crypto appears poised for a critical breakout from the current consolidation.  Is Bitcoin Preparing For A Big Move? Taking to X, Mags thinks Bitcoin is in for a “big move,” considering the candlestick arrangement in the weekly chart. The analyst notes that prices have been moving horizontally in the past nine weeks, falling within the expected range.  The Bitcoin market has ranged…

Ethereum may hit $2.8k in February, new altcoin to also rally

Disclosure: This article does not represent investment advice. The content and materials featured on this page are for educational purposes only. Rekt Capital, a crypto analyst, is bullish, expecting Ethereum (ETH) to hit $2,800 in February. Meanwhile, the Bitcoin Minetrix presale also looks bullish, surging past $10.3 million.  Ethereum stable, bulls target $2.8k ETH is stable above $2,274, but Rekt Capital says the coin is on a path to $2,800. Taking to X, the analyst said the coin will “repeat last month’s move”, referencing developments in the monthly chart. Currently,…

Crypto Exchanges Hit New Record, Leader Gains 600%

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After a strong year-end, the spot volumes of the largest cryptocurrency exchanges recorded only modest monthly gains, averaging 3%. However, comparing statistics from January 2024 with the same period twelve months earlier, we see that the total volume grew 23% to $915.84 billion. In the case of the top performer, the jump was as much as sixfold. etoro: Experience a reliable, user-friendly platform trusted by millions. Stay ahead in the crypto world. Board the Crypto Train now! Finance Magnates Intelligence analyzes spot volumes for the top 10 cryptocurrency exchanges each…

DeFi Shouldn’t Have to Worry About the SEC’s Expanded Broker Rule

Traditionally, there has been a distinction between investors, who make directional trades (i.e. betting some stock will go up or down) and dealers, typically large institutions that buy both sides of the market to provide liquidity for those traders. The old definition of a broker included any company “engaged in buying and selling securities … as a part of a regular business,” with “regular business” essentially referring to the service of market making. Source

Analysts discover deepfakes of Vitalik Buterin promoting scam crypto wallet

Blockchain security analysts CertiK disclosed a deepfake video featuring Vitalik Buterin promoting a wallet drainer phishing site.  This isn’t the first instance cybercriminals have exploited the Ethereum co-founder’s influence to advance their fraudulent schemes. In September, a notable campaign became viral with a deepfake of Buterin endorsing a new meme token, which was a scam.  Deepfakes are sophisticated digital forgeries that leverage AI to create fake videos or audio recordings of famous individuals to create fake promotions or spread misinformation. There has been a slow yet disturbing rise of such…