Month: February 2024

Top 6 Altcoins That Will Benefit From Ethereum’s Dencun Upgrade

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As the Ethereum ecosystem braces for the much-anticipated Dencun upgrade, renowned crypto analyst Miles Deutscher provides an in-depth look at the altcoins poised for significant growth. Scheduled for March 13, the Dencun upgrade is a critical hard fork aimed at enhancing Ethereum’s scalability, security, and usability. Deutscher’s insights reveal how specific Layer 2 (L2) solutions are uniquely positioned to benefit from the upgrade’s introduction of Proto-Danksharding and other key enhancements. Deutscher explains, “The Dencun upgrade, especially with EIP-4844, represents a paradigm shift in how Ethereum will handle transactions. By drastically…

Citrea secures $2.7m seed investment to develop ZK-rollup for Bitcoin

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Citrea, a project focused on integrating zero-knowledge rollups with Bitcoin, has raised $2.7 million in a seed round led by Galaxy Ventures, part of Galaxy Digital. The investment marks a significant step towards enhancing Bitcoin’s capability to support a wider range of applications, notably in decentralized finance (defi) and non-fungible tokens (NFTs). Chainway Labs, the blockchain infrastructure company behind Citrea, announced on Feb. 2 that the funds raised would be instrumental in bringing the project to market. Citrea is distinguished as the first rollup technology to expand Bitcoin blockspace using…

Texas Bitcoin mining firm sues SEC for overreach on crypto

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A Texas crypto firm and industry group sued the SEC, disputing its authority over exchange-traded crypto, aiming to classify them as non-securities. In a legal maneuver against the U.S. Securities and Exchange Commission (SEC), a Texas-based crypto mining firm called Lejilex and the Crypto Freedom Alliance of Texas (CFAT) initiated legal action, Reuters reports, citing the lawsuit. Both are challenging the SEC’s purported authority in the crypto domain, contending that the regulatory body lacks a definitive legal mandate. Lejilex aims to establish Legit.Exchange, a crypto trading platform, intending to list…

Bitcoin (BTC) Prices Back Over $51K, MATIC Leads Majors Drop; Nvidia Earnings Reignites AI-Token Rally

Bitcoin (BTC) fell to as low as $50,700 late Wednesday, while ether (ETH) dropped just under $2890 before reversing some losses. Polygon’s MATIC led losses among crypto majors, slipping 7%, while Cardano’s ADA and XRP were down as much as 5%. Meanwhile, the CoinDesk 20 Index (CD20), a benchmark for the biggest and most liquid cryptocurrencies, dropped 1.2%. Source

Report: Bankman-Fried Stands by Legal Team Amid Potential Conflict of Interest

Sources report that Sam Bankman-Fried (SBF), the erstwhile crypto magnate and former head of FTX, intends to utilize his newly appointed legal team, despite these attorneys also serving Alex Mashinsky, the former chief of Celsius. On Wednesday, in a courtroom declaration, SBF confirmed his complete understanding that his legal representatives were also advocating for Mashinsky. […] Source CryptoX Portal

Bulls Take Hit But This Level Could Trigger Another Increase

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XRP price started a downside correction from the $0.580 resistance. The price could start a fresh rally unless there is a close below the $0.535 support. XRP is struggling to clear the $0.5650 and $0.580 resistance levels. The price is now trading above $0.535 and the 100 simple moving average (4 hours). There is a key bullish trend line forming with support at $0.5350 on the 4-hour chart of the XRP/USD pair (data source from Kraken). The pair could start a fresh rally unless there is a close below the…

Ethereum Price Retreats From $3K But Bulls Remain In Charge

Ethereum price spiked above the $3,000 resistance before the bears appeared. ETH is correcting gains, but dips might be limited below the $2,865 support. Ethereum struggled to stay above the $3,000 level and corrected lower. The price is trading above $2,900 and the 100-hourly Simple Moving Average. There is a connecting bearish trend line forming with resistance at $2,950 on the hourly chart of ETH/USD (data feed via Kraken). The pair could start a fresh increase unless the bears push the price below $2,865. Ethereum Price Corrects Lower Ethereum price…

Ripple CEO backs XRP ETF, calls for clearer crypto regulation

Ripple CEO Brad Garlinghouse, in a Bloomberg interview on Feb. 20, expressed support for the creation of an XRP exchange-traded fund (ETF).  Garlinghouse highlighted the importance of diversification for investors, comparing the current state of the cryptocurrency market to the early days of the stock market. He suggested that, like in the stock market, where investors seek exposure to a range of assets rather than a single stock, the cryptocurrency market will likely see the introduction of more ETFs to distribute risk more broadly.  However, he refrained from providing specifics…