Day: March 8, 2024

Bitcoin Price Reclaims 100 SMA But Momentum Seems To Be Fading

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Bitcoin price is still struggling to settle above the $68,000 resistance. BTC is now consolidating and might drop again toward the $63,500 support. Bitcoin price is struggling to clear the $68,000 and $68,500 levels. The price is trading above $66,000 and the 100 hourly Simple moving average. There is a key rising channel forming with resistance near $68,200 on the hourly chart of the BTC/USD pair (data feed from Kraken). The pair could start another decline and trade toward $63,500 support zone. Bitcoin Price Faces Hurdles Bitcoin price recovered most…

Kremlin Reveals Plans to Create a “Politics-Free” BRICS Blockchain-Based Payments System

Yury Ushakov, an aide of Russian president Vladimir Putin, revealed plans to create a digital blockchain payment system for the BRICS bloc. Ushakov remarked that the countries of the group would benefit from implementing such a system for the use of governments, common people, and businesses, stating that it would be convenient, cost-effective, and “free […] Source CryptoX Portal

Avalanche Unleashes Durango Upgrade, AVAX Price Rockets 8% With ‘Teleporter’ Debut

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Blockchain platform Avalanche (AVAX) has announced the launch of the Durango upgrade and introduced Teleporter, a tool designed to improve communication within the protocol’s ecosystem. Simplified Cross-Chain Messaging? Teleporter, built on Avalanche Warp Messaging (AWM), the platform’s native messaging protocol, serves as a “developer-friendly interface” that reportedly simplifies the process of sending and receiving cross-chain Ethereum Virtual Machine (EVM) messages.  According to the announcement, by leveraging Teleporter, Avalanche blockchains will be able to share various types of information, including tokens, non-fungible tokens (NFTs), and oracle price feed data.  This “coordinated”…

Analyst Unveils Support That Could Prevent Crash To $60K

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Bitcoin has once again been the center of attention following its recent surge to a new all-time high, only to face a subsequent downturn that tested the resilience of its market value. A few days ago, Bitcoin traded at $69,328 for the first time ever, but It experienced a pullback, dipping to the $59,000 region before regaining its footing and stabilizing above the $66,000 mark. Bitcoin Crucial Support Level Ali, a recognized figure in the crypto analysis sphere, has pinpointed a critical support level that could play a pivotal role…

INJ Price Soars 13% As Injective Unveils ‘inEVM,’ Ethereum And Solana Integration Expected

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In a recent announcement, Layer 2 (L2) protocol Injective (INJ) has reached a major milestone with the launch of its inEVM Layer 2 rollup solution on the mainnet. This technology introduces an Ethereum Virtual Machine (EVM) environment to the Injective ecosystem, opening up new prospects for developers and blockchain interoperability. By integrating with Ethereum (ETH), Cosmos (ATOM), and Solana (SOL), inEVM establishes a multi-chain ecosystem that combines the advantages of different virtual machine environments. inEVM For Ethereum, Cosmos, And Solana According to the March 7 announcement, InEVM, which stands for…

Jerome Powell Clarifies: US Far From Introducing a Central Bank Digital Currency

Federal Reserve Chair Jerome Powell stated before the Senate Committee on Banking, Housing, and Urban Affairs that the United States is far from adopting or even recommending the introduction of a central bank digital currency (CBDC), emphasizing a significant distance from such a possibility. He assured that any potential CBDC would not be designed for […] Source CryptoX Portal

Analyst Predicts: Bitcoin On The Brink Of A Monumental Rally

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Willy Woo, a crypto analyst, has captured the crypto community’s attention with his latest view on Bitcoin (BTC), suggesting an impending significant surge for the asset. This optimism follows the approval of spot Bitcoin ETFs, which Woo believes would channel more substantial capital into the market, potentially catalyzing a “monumental rally” in Bitcoin’s value. Beyond Technical Analysis: Market Sentiments And Prediction Willy Woo took to X to share his analysis, drawing on Bitcoin’s historical performance to shed light on its future trajectory. Woo reminisced about July 2010, when Bitcoin’s value…

Las Vegas CEO faces 127 years for crypto laundering linked to cartels and charity fraud

The CEO of a Las Vegas Internet company could face a 127-year prison sentence following his conviction for laundering over $4 million with Bitcoin, funds connected to Mexican cartels, and a hacked charity, according to the Department of Justice. Martin Mizrahi, 53, is facing a possible 127-year prison sentence after being convicted of wire fraud, money laundering, and identity theft. This case is part of a broader international crackdown on illicit activities involving cryptocurrencies. The conviction came after a 12-day trial in a Manhattan federal court, where it was revealed…

Pantera Capital Plans $250M Solana (SOL) Buy, Analyst Predicts Record Rally Toward $1000

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Pantera Capital, a prominent crypto-focused asset manager with assets totaling $5.2 billion, has launched a fundraising campaign to purchase discounted Solana (SOL) tokens from the bankrupt estate of crypto exchange FTX.  According to Bloomberg, the initiative, known as the Pantera Solana Fund, offers investors the opportunity to purchase up to $250 million worth of SOL tokens at a significant discount to the FTX estate. Solana Token Acquisition Plan Pantera Capital’s marketing materials, shared with prospective investors in February and reviewed by Bloomberg, outline the opportunity to purchase SOL tokens at…