Month: April 2024

Avalanche (AVAX) Downtrend Persists Amid Market Uncertainty

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Generally, the cryptocurrency market is bearish at the moment, with coins like Avalanche (AVAX), Ethereum, Litecoin, XRP, Solana, and others all caught in this trend. Currently, the price of AVAX is on a strong bearish move below the 100-day Moving Average (MA) and could continue in that direction for a while before retracing. Technical Indicators Suggest A Bearish Trend For Avalanche Observing the chart from the 4-hour timeframe, AVAX has crossed below both the 100-day moving average and the trend line. This could mean that the price is on a…

Mezo raises $21m in Pantera-led funding round

Mezo, a Bitcoin (BTC) layer-2 (L2) network, has emerged from stealth mode with $21 million in venture capital. Pantera Capital led the funding round. Multicoin, Hack VC, ParaFi Capital, Nascent, Draper Associates, Primitive Ventures and Asymmetric Ventures joined the effort. Individual investors, including Dan Held, Tim Draper, and the pseudonymous DCF God, also participated. Thesis, a blockchain venture studio that developed Mezo, confirmed the fundraising round, earlier this week. Mezo operates as a permissionless Bitcoin economic layer, utilizing a neutral smart contract framework to offer a variety of applications. It…

Winklevoss twins invest $4.5m of Bitcoin in UK football club

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Cameron and Tyler Winklevoss, founders of the cryptocurrency exchange Gemini, are now investors in Real Bedford Football Club. The brothers put $4.5 million worth of Bitcoin into the football club as part of a transaction facilitated through Winklevoss Capital, their investment firm. This new partnership places them alongside cryptocurrency podcaster Peter McCormack, who acquired the club in 2022. The Winklevoss twins’ financial infusion into Real Bedford is committed to several forward-looking projects. These include creating a new training facility, establishing a football academy and bolstering support for youth and girls’…

Arthur Hayes Introduces New ‘Risk Radar’ for Ethena’s USDE Stablecoin

Following criticism of Ethena’s USDE stablecoin, which brought back memories of the Terra blockchain’s Anchor protocol failure, Ethena backer Arthur Hayes introduced a risk tracker by intotheblock.com that monitors aspects like the token’s adherence to its U.S. dollar peg. Intotheblock.com’s Ethena Risk Radar Dashboard At the time of reporting, Ethena’s recently launched USDE stablecoin boasts […] Source CryptoX Portal

Market Expert Reveals Why Solana Price Is Poised To Go Higher

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A cryptocurrency analyst, who accurately foresaw the market’s bottom in 2018, is now focusing on Solana, foreseeing a price bottom for the cryptocurrency and identifying its next target after reaching it.  Solana To Rise Above $200 After Hitting This Bottom In a Wednesday X (formerly Twitter) post, a crypto analyst identified as ‘Bluntz’ has highlighted a potential price bottom for Solana. Following up on the previous forecast on April 4, where he predicted that Solana would hit a bottom at or below $160 before pushing back up, Bluntz revealed in…

Edward Snowden is not worried about Bitcoin prices dropping 

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With visible panic on social media after yesterday’s $900 million liquidation across the crypto market, Edward Snowden remains unfazed. The overall crypto market cap has fallen by nearly 5% since yesterday, and the meme coin market has fallen by 13%. Bitcoin dropped to $65,000, with daily trading volume soaring to 60%, indicating a wider sell-off from investors. Bitcoin ETFs also saw a net outflow of $55 million yesterday.  However, Snowden — a computer intelligence consultant and whistleblower famous for leaking classified information from the National Security Agency — took to…

US Hacker Handed Three-Year Prison Sentence for Looting $12,000,000+ in Crypto From Two Decentralized Exchanges

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A US hacker convicted of plundering more than $12 million worth of crypto assets from two decentralized exchanges (DEXs) was sentenced to three years in prison. In July 2022, Shakeeb Ahmed, a security engineer, used fake pricing data to generate approximately $9 million worth of inflated fees on an unnamed DEX, according to the U.S. Department of Justice. Ahmed then withdrew those fees in the form of crypto, but he agreed to return all of the stolen funds except for $1.5 million if the exchange agreed not to report the…

The crypto industry will only benefit from regulation

Disclosure: The views and opinions expressed here belong solely to the author and do not represent the views and opinions of crypto.news’ editorial. Since the emergence of Bitcoin in 2009, cryptocurrencies have become widespread. By 2022, the market included at least 10,000 tokens with various properties: well-known mainstream coins like Bitcoin and Ethereum, stablecoins with a value pegged to fiat currencies, meme coins, and various altcoins that power different projects. Cryptocurrencies provide options for fast and inexpensive money transfers (including cross-border ones), have limited use for payments, and can be…

Will FOMO Or FUD Rule The Market?

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As the countdown to the much-anticipated 2024 bitcoin halving event nears its climax, the cryptocurrency world finds itself amidst a whirlwind of excitement and speculation. Social media platforms have become abuzz with discussions surrounding the impending halving, according to data from Santiment. This increase in social media chatter indicates a potential for significant price movements in the volatile crypto market, sparking both FOMO (Fear of Missing Out) and FUD (Fear, Uncertainty, Doubt) among investors. Social Media Surge Fuels Speculation On Bitcoin’s Fate The surge in social media chatter around the…