Day: May 10, 2024

Bitcoin Price Is Showing Early Signs of Recovery But 100 SMA Is The Key

Bitcoin price found support near the $60,600 zone. BTC is recovering but the bears might remain active near the $63,200 resistance zone. Bitcoin tested the $60,60 support zone and started a recovery wave. The price is trading near $63,000 and the 100 hourly Simple moving average. There was a break above a key bearish trend line with resistance at $62,000 on the hourly chart of the BTC/USD pair (data feed from Kraken). The pair could gain bullish momentum if there is a close above $63,200 and the 100 hourly Simple…

Latam E-Commerce Giant Mercado Libre Holds $40 Million in Crypto

Mercado Libre, one of the biggest e-commerce platforms in Latam, has disclosed it holds over $40 million in cryptocurrency, according to its Q1 2024 filings. The company disclosed that it held 412.7 bitcoin (BTC) and 3,041.6 ethereum (ETH), by March 31. However, Mercado Libre does not own these holdings, as its CIO Richard Cathcart explained, […] Source CryptoX Portal

Bitcoin Could Crash Below $55,000, Top Analyst Sounds The Alarm

boss

Bitcoin, the leading cryptocurrency, has recently been scrutinized by several analysts and traders as it struggles to maintain its market position. Michaël van de Poppe, a recognized figure in the crypto analysis sector, has recently expressed his concerns regarding Bitcoin’s current price trajectory. Bitcoin Risks Dropping to $52,000, Why? Taking to Elon Musk’s social media platform X, Van de Poppe pointed out that Bitcoin is at the lower end of its current range, a crucial area for maintaining upward momentum. Related Reading Van de Poppe warned that if Bitcoin fails…

Grayscale Battling Outflows And Lower-Cost ETFs, Q1 Revenue Stays Flat At $156M

boss

Grayscale Investments, the issuer of one of the recently approved spot Bitcoin exchange-traded funds (ETFs) in the US, saw flat revenues in the first quarter of the year due to its decision to maintain fees on its flagship Grayscale Bitcoin Trust ETF (GBTC).  Grayscale Exceeds Expectations Despite Outflows According to a shareholder letter from its parent company, Digital Currency Group (DCG), the operator of the Grayscale Bitcoin Trust recorded $156 million in revenue, showing little change from the previous quarter. Related Reading Since the GBTC trust’s conversion to an ETF…

How to Create an Ethereum Wallet: A Step-by-Step Guide

Discover how to create an Ethereum wallet for safe storage of Ether (ETH) and ERC-20 tokens. Learn to send and receive crypto, and connect with dapps hassle-free. In crypto, Ethereum has become a prominent hub for decentralized applications (dapps) and smart contracts. The latest figures from DappRadar indicate that there are more than 4,500 dapps built on Ethereum and over 176,000 smart contracts deployed on the network.  ETH is the second largest cryptocurrency by market cap and is consistently among the top five most traded tokens every day. As such,…

Arbitrum Prints TD Buy Signal: Trend About To Flip?

boss

An analyst has pointed out how Arbitrum (ARB) has formed a Tom Demark (TD) Sequential buy signal on its weekly chart recently. Arbitrum May Have Hit A Point Of Reversal According To TD Sequential In a new post on X, analyst Ali has discussed a TD Sequential signal that Arbitrum has observed in its weekly price recently. The “TD Sequential” is an indicator in technical analysis generally used for locating probable reversal points in any asset’s price. This indicator has two phases, the first of which is known as the…

Robinhood’s Crypto Revenue Surges 232% Despite Looming SEC Battle

Retail trading platform Robinhood has announced that its crypto revenue grew by 232% in the first quarter. Despite this success, Robinhood faces potential enforcement action by the U.S. Securities and Exchange Commission (SEC), alleging that some of the cryptocurrencies offered on its platform are securities. Crypto Drives Robinhood’s Profitable Q1 Retail trading platform Robinhood Markets […] Source CryptoX Portal

EigenLayer’s EIGEN Airdrop Might Signal Demise of Once-Popular ‘Points’

But when it comes to protecting investors and offering transparency, Robert Leshner, the founder of Compound and Robot Ventures, an investor in EigenLayer developer Eigen Labs, thinks points are the worst of all worlds. “The entire root of investor protection is making sure that there’s not an information asymmetry between the investors and the sponsors. And points create the largest information asymmetry that exists in crypto,” he said. “Everything is at the team’s discretion, and users and investors are just praying that they get treated right by the team.” Source

TRUMP Soars 36.2% And Flips BODEN

boss

In a year full of global elections, the crypto industry remains expectant and critical of every candidate’s stance on cryptocurrencies. The US presidential elections could pose a turning point for regulations and adoption that could affect the industry worldwide. On Wednesday, Donald Trump, former US president and Republican candidate, stated his support for the industry and criticized Biden’s administration for its stance on digital assets. MAGA (TRUMP), the Trump-inspired memecoin, saw its price skyrocket  63% in the following hours. Related Reading Trump’s Stance On Crypto The Republican candidate held a…