Month: April 2024

Bitcoin (BTC) Trades At Slight Premium in Yen (JPY) Terms Amid Suspected BOJ Intervention

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“Currently, the bitcoin premium on Japanese markets is hovering around 0.3%-0.4%, having declined from over 1% in mid-April and a yearly high of 1.7% reached in mid-March. However, this could change. Overall, FX volatility is rising due to increasingly divergent monetary policy expectations and geopolitical stress, and this could impact crypto,” Dessislava Aubert, an analyst at Paris-based Kaiko, told CoinDesk. Original

Taiwanese Prosecutors Indict 32 Individuals Implicated in $24.5 Million ACE Exchange Fraud Scheme

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At least 32 individuals connected to the now-defunct Taiwan-based cryptocurrency exchange, ACE Exchange, have been indicted on fraud charges. Prosecutors have recommended 20-year jail terms for the founder, David Pan, and his business partner, while a 12-year jail term has been proposed for Chairman Wang Chen-huan. Token Prices Plummet Taiwanese prosecutors recently indicted at least […] Source

Crypto policies won’t be affected by South African elections, insiders say

According to industry insiders, the upcoming South African elections on May 29 will not affect the nation’s cryptocurrency agenda. According to Mpumelelo Ndamane, CEO of South Africa-based crypto wallet provider Nuud Money, the elections will steer clear of cryptocurrencies.  “We’ve been pretty stable over the past 30 years when it comes to ensuring the [South African Reserve Bank] and FSCA are independent of politics. It won’t affect the crypto policy.”  Meanwhile, according to John McCarthy, general counsel for global regulatory affairs at Fireblocks, most of the development around the digital asset sector…

Will MATIC Stay Stuck In The Sub-$1 Doldrums?

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Polygon (MATIC), the high-speed scaling solution for Ethereum, has been on a rollercoaster ride this month. After a brutal price correction that saw MATIC tumble over 20%, a recent 24-hour surge has injected a dose of optimism into the market. But is this a sign of a full recovery, or a temporary reprieve before further decline? Polygon’s Price Plunge: A Reality Check CoinMarketCap data paints a sobering picture. MATIC has been steadily dropping down the ranks of the top 20 cryptocurrencies, currently sitting at number 18. This decline coincides with…

As Bitcoin outpaces fiat, what’s next for global finance?

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As Bitcoin’s value overtakes major currencies by 99.5%, is this the start of a new era where digital currencies challenge traditional financial systems? The global economy has faced severe challenges in recent years, including rampant inflation and slowing growth rates since the post-pandemic era.  In the U.S., recent reports indicate a slower-than-expected GDP growth of 1.6% in Q1, missing forecasts of 2.5% growth and falling well below the 3.4% recorded in Q4.  Simultaneously, the core PCE (personal consumption expenditures) price index—an essential gauge of inflation for the Federal Reserve—has risen…

Yuga Labs Resumes Layoffs; CEO Says Web3 Platform ‘Lost Its Way’

According to Greg Solano, co-founder of Yuga Labs, the Web3 platform has laid off additional workers partly because it had “lost its way.” Solano also encouraged employees uninterested in the next phase to consider accepting the same severance package offered to those affected by the layoffs. Convoluted Corporate Processes Yuga Labs, the Web3 platform behind […] Source CryptoX Portal

XRP Sees Over $12 Million Sell-Off: Buying Opportunity?

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The once-booming cryptocurrency XRP, championed by Ripple Labs, finds itself precariously perched on a stormy sea of uncertainty. Recent weeks have been a tempestuous voyage for the digital asset, rocked by a confluence of challenges: regulatory scrutiny, dwindling investor confidence, and now, the ominous exodus of major whales. XRP Whale Exodus Sparks Fear These “whales,” the deep-pocketed investors holding vast quantities of XRP, have begun executing sizable sell orders, sending tremors through the market. On-chain data reveals a colossal transfer exceeding 24 million units, valued at slightly over $12 million,…

Signal Points To 40% Crash

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Crypto analyst Josh Olszewicz is once again warning of a looming Dogecoin price crash. The analysis hinges on the Ichimoku Cloud, a comprehensive indicator that provides information on support/resistance levels, momentum, and trend direction. Olszewicz’s analysis points to two specific technical phenomena on the 1-day (1D) chart of DOGE against the US dollar (DOGE/USD). Via X, he remarked “1D DOGE: bearish TK cross + bearish Kumo breakout. Bearish Signals For Dogecoin The bearish TK cross refers to the bearish crossover between the Tenkan-Sen (conversion line) and the Kijun-Sen (baseline) within the…