Month: May 2024

Shiba Inu on the Verge of 600% Rally? Analyst Weighs In

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Shiba Inu, known as the “Dogecoin Killer,” is eagerly anticipating a significant price leap. Market analyst Ashish has sparked excitement with a bold prediction: a 600% surge that could catapult the meme coin to an impressive $0.000075. Related Reading This bullish forecast comes after what Ashish describes as a nearly two-year-long slumber within a consolidation pattern. December 2023 saw Shiba Inu finally break free from this price purgatory, breaching a crucial resistance trendline. The breakout ignited a rally that culminated in a 370% surge, reaching a 2024 high of $0.000045…

Ethereum outlook bullish after ETF approval despite retreat

Days after hitting a month-high of $3,943, the price of Ethereum (ETH) has begun to correct.  The initial rise followed the U.S. Securities and Exchange Commission (SEC) approving applications from NASDAQ and the NYSE to list Ethereum exchange-traded funds.  Although ETF issuers still need final approval before their products can launch, the SEC’s May 23 decision marked a significant and unexpected victory for firms that had made applications and the broader crypto industry.  Until Monday, many had anticipated regulators would reject the filings. Nine issuers, including VanEck, ARK Investments/21Shares, and…

Ethereum’s Balance on Exchanges Spikes Amid Possible Sell-the-News Event, According to Crypto Analyst

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A widely followed crypto analyst says that Ethereum’s (ETH) balance on crypto exchange platforms is spiking amid a possible sell-the-news event. In a new thread, crypto trader Ali Martinez tells his 62,700 followers on the social media platform X that over the last two weeks, hundreds of thousands of ETH have been transferred to wallets linked to crypto exchanges. “Looking at Ethereum’s balance on exchanges reveals a spike in the tokens available to sell. Over the last two weeks, over 242,000 ETH have moved to cryptocurrency exchange wallets. This indicates…

Market Expert Says Biggest Crypto Disaster Yet To Happen

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Veteran crypto trader, Peter Brandt has issued a warning to the broader crypto community, stating that the industry has yet to experience its biggest disaster. Brandt boldly predicts that this catastrophe will be linked to cryptocurrency staking and the people involved in it.  Related Reading Staking Could Lead To Crypto’s Greatest Disaster In an X (formerly Twitter) post on May 24, Brandt labeled crypto staking as one of the biggest threats to the digital currency space. According to the analyst, staking could become the harbinger of disaster for the industry,…

Crypto Queen accomplice sentenced for laundering Bitcoin

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Jian Wen has been handed a sentence of six years and eight months in prison for her involvement in a Bitcoin (BTC) money laundering plot. On October 31, 2018, police raided Wen’s residence and found a wallet containing 61,000 Bitcoins, which were seized. The value of the confiscated BTC has since surged from £1.4 billion at the time to over £3 billion ($4 billion). Wen, 42, was allegedly enlisted by Yadi Zhang (also known as Zhimin Qian and dubbed “Crypto Queen”) to act as a “front person” for the operation.…

Crypto Exchange Giant OKX To Pull Trading Services From Hong Kong at the End of the Month

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The crypto exchange giant OKX will shutter its digital asset trading services in Hong Kong at the end of the month. OKX says it decided to pull its application for a virtual asset trading platform license in Hong Kong “after careful consideration of the business development prospects.” The exchange will stop providing trading services on May 31st, though its customers will still be able to make withdrawals. OKX’s web3 self-hosted wallet will also continue to provide services to customers. OKX is one of ten crypto exchanges that have withdrawn their…

Xapo CEO Seamus Rocca Describes Xapos’ Proposition, Talks US Regulation, Emerging Markets, and Stablecoins

Seamus Rocca, CEO of Xapo, had a candid conversation with Cryptox.trade’s COO Jason Sheman, where he shared his accumulated experience and knowledge describing what makes Xapo different from a traditional neobank, talked about U.S. markets and regulations, how emerging markets see crypto, and the necessity of implementing stablecoins in Xapo after Silvergate Banks’ downfall. Xapo […] Source CryptoX Portal

Solana to Hit $1,000? Analyst Makes Bullish Call Despite Downturn

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Solana (SOL) defied a slight market dip today, maintaining key support levels and sparking renewed optimism among investors. The altcoin boasts a healthy 24-hour trading volume of $6.50 billion, solidifying its position among the top cryptocurrencies. Market dominance for SOL sits at 3.04%. Related Reading Analyst Bullish On Solana, Predicts Meteoric Rise Prominent crypto analyst Trader Tardigrade isn’t shying away from bold predictions. In a recent analysis, Tardigrade expressed a highly optimistic view of Solana’s future price trajectory. According to the analyst, SOL, currently trading at $170, has successfully broken…

Bittensor price soars 13% as Grayscale Trust rumors circulate

Decentralized AI project Bittensor has seen its native token, TAO, gain 13% in the past day, seemingly driven by an unconfirmed rumor that digital asset manager Grayscale plans to register a new trust tracking the token. At the time of writing, Bittensor’s price has climbed 13% to $483.10, marking a 21% gain compared to this time last week, according to CoinMarkeCap data. TAO 24-hour price chart | Source: CoinMarketCap The latest feat makes TAO the best-performing asset in the top 100 on CoinGecko, surpassing ETH meme coin darling PepeCoin. PEPE, along…