Day: May 9, 2024

Bitwise Heralds Coinbase (COIN) As ‘Next Amazon’: Price Targets

boss

In a recently published report by Bitwise, the leading crypto index fund manager, a striking comparison has been drawn between Coinbase and Amazon, highlighting a significant yet under-reported aspect of Coinbase’s business — the Base Layer 2 network. Titled “It’s All About That Base (and Other Thoughts on Coinbase),” the report authored by Matt Hougan and Juan Leon delves deep into the financial and strategic shifts underpinning Coinbase’s latest successes and potential future. Amazon Of Crypto? Bitwise Projects Stellar Future For Coinbase Coinbase’s latest financial results have been a revelation,…

Unpacking XRP’s Potential 650x Surge And What It Means

boss

Ripples of uncertainty continue to surround XRP, the cryptocurrency created by Ripple Labs. Once a high-flyer, XRP has seen its price plummet amidst a protracted legal battle with the US Securities and Exchange Commission (SEC). But even as dark clouds loom, some analysts see a silver lining, predicting a future surge for the digital asset. A Legal Tug-of-War Dampens XRP Price The SEC lawsuit, filed in December 2020, alleges that the altcoin is an unregistered security. This classification, if upheld, could severely restrict XRP’s trading and dampen its value. The…

April Crypto Trading Volume Drops for First Time in Seven Months to $6.58T

Bitcoin (BTC), the leading cryptocurrency by market value, fell nearly 15% to under $60,000 last month, snapping a seven-month winning trend. The sell-off came as an overheated bull market ran into broad-based risk aversion characterized by renewed tensions in the Middle East, dwindling probability of rapid Fed rate cuts this year and strength in the dollar index. Source

LTC Could Rally If It Clears This Barrier

boss

Litecoin price is recovering higher from the $75.00 zone against the US Dollar. LTC could continue to rise if it clears the $84.00 resistance zone. Litecoin is showing positive signs from the $75 support zone against the US Dollar. The price is now trading below $85 and the 100 simple moving average (4 hours). There is a key bearish trend line forming with resistance at $83.00 on the 4-hour chart of the LTC/USD pair (data feed from Kraken). The price could gain bullish momentum if it clears the $83-$84 resistance…

Optimism Stack Update: OP to Support Layer Three With Funding, Features, and Revenue Sharing

Ethereum scaling solution provider Optimism announced plans to enhance blockchain throughput by integrating Layer three applications on top of its OP Stack, aiming to foster a Superchain network where Layer threes can build and share revenue with the Optimism Collective. The OP Stack, an open standard codebase, extends its utility beyond Layer two deployers to […] Source CryptoX Portal

Tron Price Prediction: TRX Outperforms Bitcoin, Can It Hit $0.132?

boss

Tron price is gaining pace above the $0.1220 resistance against the US Dollar. TRX is outperforming Bitcoin and could rise further above $0.1250. Tron is moving higher above the $0.120 resistance level against the US dollar. The price is trading above $0.1220 and the 100 simple moving average (4 hours). There was a break above a key bearish trend line with resistance at $0.120 on the 4-hour chart of the TRX/USD pair (data source from Kraken). The pair could continue to climb higher toward $0.1275 or even $0.1320. Tron Price…

ADA Price Prediction – Can Cardano Bulls Overcome This Key Hurdle?

Cardano (ADA) is attempting a fresh increase above the $0.4500 resistance zone. ADA could gain bullish momentum if it settles above the 100 SMA (H4). ADA price is slowly moving high above the $0.450 zone. The price is trading below $0.480 and the 100 simple moving average (4 hours). There was a break above a key bearish trend line with resistance at $0.4580 on the 4-hour chart of the ADA/USD pair (data source from Kraken). The pair could gain bullish momentum if there is a clear move above $0.470. Cardano…

Rwandan Research Paper Recommends CBDC With ‘Partial Pseudo-Anonymity’

A recent research paper from the National Bank of Rwanda recommends a two-tier, universal, zero-interest central bank digital currency (CBDC) with partial pseudo-anonymity. Although the research paper identifies 15 opportunities for CBDC, only four are said to offer “high potential benefits and limited alternative choices to obtain similar advantages.” Research Paper Identifies 15 CBDC Opportunities […] Source CryptoX Portal