Day: June 3, 2024

Bitcoin reaches the $69k mark after a series of large investments

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The Bitcoin (BTC) price has gained bullish momentum, surpassing the $69,000 mark, after a bearish weekend. BTC is up by 1.3% in the past 24 hours and is trading at $69,080 at the time of writing. The flagship cryptocurrency’s market cap surpassed the $1.35 trillion mark with a daily trading volume of $22.7 billion. BTC price, RSI, active addresses and supply in profit – June 3 | Source: Santiment The bullish momentum comes after a few large investments around the Bitcoin ecosystem. Per a report on June 1, Paradigm helped…

Is This The Biggest Bitcoin Bull Run Ever? Analyst Says Yes!

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Crypto analyst TechDev (@TechDev_52) recently shared a detailed chart analysis suggesting that Bitcoin might be on the cusp of its most significant breakout to date. This analysis, backed by historical patterns and technical indicators, points to a potential shift in the market that could lead to unprecedented price levels for Bitcoin. The chart provided by TechDev illustrates Bitcoin’s price action in USD alongside its price relative to the M1 money supply (BTC/M1). Historically, Bitcoin has exhibited distinct phases of parabolic price increases, known as “blowoff tops,” followed by sharp corrections.…

China and UAE Praise Potential Role of CBDCs in Cross-Border Trade

China and the United Arab Emirates (UAE) have acknowledged the crucial role of central bank digital currency (CBDC) in facilitating cross-border trade and investment. In a joint statement, the two countries expressed their commitment to deepening bilateral and multilateral cooperation with respect to their CBDCs. China also expressed appreciation for the UAE’s recent direct cross-border […] Source CryptoX Portal

Ethereum Endgame? Investors Pull $3 Billion From Exchanges

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The winds of change are blowing through the Ethereum ecosystem. Since the long-awaited approval of spot Ether ETFs in the US on May 23rd, a quiet exodus of Ether has been underway. A massive amount of the world’s second-largest cryptocurrency, or around $3 billion, has vanished from centralized exchanges, marking the lowest level of Ether reserves in years. This flight of the digital asset has analysts buzzing with the possibility of a supply squeeze, potentially propelling Ether to new heights. Related Reading Exodus To Self-Custody: A Bullish Signal? Crypto analyst…

Decentralized Exchange Velocore Confirms Breach, Reports $6.8 Million in Financial Losses

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The decentralized exchange Velocore confirmed a breach on its platform on June 2, during which attackers stole ethereum tokens worth an estimated $6.8 to $10 million. The Velocore team is actively pursuing the hackers and is open to negotiating a settlement. Hackers Exploited Vulnerabilities Within the CPMM Pool Contract The decentralized exchange Velocore on Zksync […] Source

Mexican Billionaire Ricardo Salinas Urges Followers to Buy Bitcoin as Nigerian Naira Falls Under a Satoshi

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Ricardo Salinas Pliego, one of the wealthiest billionaires in Mexico, has urged his followers to purchase Bitcoin as a hedge against the devaluation of fiat currencies. Salinas Pliego recommended purchasing bitcoin in response to a social media post reporting on the fall of the value of the Nigerian naira under a satoshi. Mexican Billionaire Ricardo […] Original

Google Partners With Magic Leap to Bolster the Potential of Augmented Reality Technologies

One of the leaders in the augmented reality industry, Magic Leap, announced on May 30 that it had partnered with Google to enhance the potential of augmented reality technologies. This new collaboration aims to release unique product offerings while further expanding the longstanding relationship between the two companies. Magic Leap’s Optics Expertise Combined With Google’s […] Source CryptoX Portal

Can Solana (SOL) Overcome Key Resistance and Ignite a Fresh Increase?

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Solana declined again and tested the $160 support zone. SOL price is consolidating and might recover if it clears the $166 resistance zone. SOL price corrected lower and tested the $160 support zone against the US Dollar. The price is now trading below $168 and the 100-hourly simple moving average. There is a connecting bearish trend line forming with resistance at $165 on the hourly chart of the SOL/USD pair (data source from Kraken). The pair could clear the $166 resistance unless it fails to stay above $160. Solana Price…

XRP Price Struggle Continues: Will It Find Support?

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XRP price extended losses below the $0.5120 support zone. It tested the $0.5080 zone and now attempting another recovery wave toward $0.5350. XRP is struggling to start a fresh increase above the $0.5250 resistance zone. The price is now trading below $0.5150 and the 100-hourly Simple Moving Average. There is a key bearish trend line forming with resistance near $0.5180 on the hourly chart of the XRP/USD pair (data source from Kraken). The pair could continue to move down if the price stays below $0.5250. XRP Price Extends Losses XRP…

Hong Kong Police Warn of Spike in Counterfeit Banknotes Used in Cryptocurrency Scams

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Hong Kong police have issued a warning over the rise in counterfeit banknotes, with many cases linked to cryptocurrency scams. Between January and April, authorities seized 3,396 fake notes valued at HK$2.55 million (US$326,130), a significant increase from last year’s 553 notes worth HK$166,220. Three major cryptocurrency-related fraud cases led to the confiscation of 1,693 […] Source