Day: May 10, 2024

Stand With Crypto Sets Up Election War Chest, Backs Candidates Seeking Open Seats

The fast-growing organization of cryptocurrency supporters, Stand With Crypto, is getting into campaign financing with the opening of its own political action committee (PAC) that will make direct donations to endorsed congressional candidates, said Chief Strategist Nick Carr. Its opening slate of endorsements will feature five candidates seeking open seats in the U.S. House of Representatives and Senate, though the money will have to wait. Stand With Crypto’s effort is an “associated PAC,” meaning it’s supported by the nonprofit group’s own members, and each of them will be limited to…

Ethereum Foundation Moves 1,000 ETH

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The Ethereum Foundation, a non-profit organization that supports the Ethereum ecosystem, recently transferred a significant amount of ETH. Given what this transaction could imply, it has drawn the crypto community’s attention, which is already speculating about whether the market top might be in.  Ethereum Foundation Moves 1,000 ETH On-chain analytics platform SpotOnChain revealed in an X (formerly Twitter) post that the Ethereum Foundation transferred 1,000 ETH ($3 million) to a middle multi-signature wallet (0xbc9) on May 8. This development is more concerning as SpotOnChain revealed that the Foundation has made…

Ethereum Layer 2 Blockchain Eclipse Founder Temporarily Reduces Public Role Amid Sexual Misconduct Allegations

In light of recent claims of sexual misconduct, Neel Somani, the founder and CEO of Eclipse, an Ethereum scaling startup, has made the announcement that he would be resigning from his position as a “public face” for the company [1]. It is Somani’s intention to defend himself and vindicate his reputation, and he has said that he does not believe the charges. This page will offer an outline of the incident as well as the actions that Eclipse has taken in response to the claims.…

TON Price Surges 15% In A Day But Signs of Bullish Exhaustion Emerge

TON price rallied nearly 15% and traded above the $6.50 resistance. Toncoin is now showing a few signs of trend exhaustion and might correct gains. Toncoin jumped above the $6.20 and $6.50 resistance levels. The price is now trading above $6.50 and the 100-hourly Simple Moving Average. There is a key parabolic curve forming with support at $6.80 on the hourly chart of the TON/USD pair (data source from Kraken). The pair could start a downside correction if it declines below $6.80 and the $6.60. TON Price Reaches $7 Recently,…

Bitcoin Advocate Says ASIC Devices’ Inflexibility Makes AI Involvement Unlikely for Bitcoin Miners

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According to Joe Downie, the chief marketing officer at Nicehash, bitcoin miners struggling to stay afloat after the halving are unlikely to support or become involved with artificial intelligence (AI). This is because their application-specific integrated circuit (ASIC) miners now “only allow for mining on one algorithm.” Furthermore, Downie argued that bitcoin mining devices are […] Original

BNB Price Faces Crucial Test: Will $600 Withstand the Pressure?

BNB price is attempting a fresh increase from the $540 zone. The price must settle above the $600 resistance to gain bullish momentum. BNB price started a fresh increase after it cleared the $565 resistance zone. The price is now trading above $580 and the 100 simple moving average (4 hours). There is a key bullish trend line forming with support at $592 on the 4-hour chart of the BNB/USD pair (data source from Binance). The pair could gain bullish momentum if it clears the $602-$610 resistance zone. BNB Price…

AI-powered Turbo memecoin sees 40% jump amid growing U.S. trend

Turbo (TURBO), an AI-generated memecoin, has surged 40% in the past 24 hours amid a trending status in the United States. At the time of writing, TURBO was trading at $0.001105, marking over 100% rise over the past week. The token’s market capitalization has crossed $70 million, reflecting a 40% rise, while its 24-hour trading volume hit $37 million, up 160%. TURBO 24-hour price chart | Source: CoinMarketCap Turbo Token, the brainchild of digital artist Rhett Mankind, emerged as an experiment in cryptocurrency development using artificial intelligence. Mankind used GPT-4…

Donald Trump Could Be Bitcoin’s Biggest Price Booster: Experts

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Former President Donald Trump recently voiced strong support for Bitcoin and cryptocurrencies, notably diverging from his previously skeptical stance. This significant pivot, prominently featured in a recent video circulating among crypto enthusiasts and investors, has spurred speculation about the potential implications for Bitcoin and other digital currencies as the US election approaches this November. How Trump Could Boost Bitcoin Price The comments made by Trump were discussed by analyst MacroScope on X. The analyst emphasized the importance of Trump’s statements: “By now, you’ve probably seen the video of Trump‘s strident…