Day: June 6, 2024

The best crypto to invest in for beginners: a simple guide

Want to know what are the best coins to invest for beginners? Read our guide to reputable cryptocurrencies like Bitcoin (BTC), Ethereum (ETH), and more. Dipping your toes into cryptocurrency can feel overwhelming, especially with so many options out there. However, experts suggest that starting with well-established and reputable digital assets can make the process smoother.  To help you get started, we have compiled a beginner-friendly guide highlighting five of the best cryptocurrencies for beginners to invest in, considering their stability, market value, and potential for growth. Bitcoin (BTC) Bitcoin…

Medical Device Maker Semler Scientific Buys $17 Million More Bitcoin, Plans $150 Millon Offering For Future Purchase

boss

“Semler remains focused on our two strategies of expanding our healthcare business and acquiring and holding bitcoin,” said Doug Murphy-Chutorian, MD, Semler Scientific’s chief executive officer, in a release. “The company now holds 828 bitcoins, underscoring our view that bitcoin is a compelling investment and can serve as a reliable store of value. We will continue to pursue our strategy of purchasing bitcoins with cash.” Original

GMX Soars 20% Amid Crypto Whale Frenzy, ‘Turbo Mode’ Back?

GMX, the native token of decentralized perpetual exchange GMX, has soared over 20% in the past 24 hours. The surge was seemingly fueled by a crypto whale move that ignited the community’s positive sentiment towards the token. Some analysts believe GMX might be preparing for a breakout above the $60 mark. Related Reading Whales Send GMX To New Wallets In the early hours of Thursday, a whale withdrew over 85,000 GMX tokens from crypto exchange Binance. Per the reports, the whale sent the funds to a fresh wallet, boosting the…

Saudi Arabia Joins BIS’ CBDC Project mBridge as a Full Participant

In addition to mBridge’s six full participants, 27 other official entities – including the International Monetary Fund (IMF), the World Bank and the central banks of countries including Norway, South Korea and Turkey – have signed on as observers to the project, giving them access to a “sandbox” for experimentation with the technology. Source

GameStop-Inspired Solana Memecoin Soars Over 80% as Roaring Kitty Flashes $586M Worth of GME Position

The action rippled through the digital asset market, too. Solana-based meme token GME, which was inspired by GameStop but has no affiliation with the company, surged more than 80% over the past 24 hours, CoinGecko data shows, despite the broader crypto market pulling back. The micro-cap AMC token, which shares the name of the troubled movie theater chain but similarly has no affiliation, also jumped 83%. Source

U.S. Charges Three in Connection With Evolved Apes NFT Scam

“The defendants ran a scam to drive up the price of digital artwork through false promises about developing a videogame,” U.S. Attorney Damian Williams said in a statement. “They allegedly took investor funds, never developed the game, and pocketed the proceeds. Digital art may be new, but old rules still apply: making false promises for money is illegal.” Source

Bitcoin Price Surge To $71,000 Sends All Long-Term Holders Into Profit, What About Short-Term Holders?

boss

Bitcoin long-term holders are back in profit following the flagship crypto’s recent price surge. However, the same can’t be said for most short-term holders yet, given the levels at which they purchased their Bitcoin holdings.  Only 0.03% Of Long-term Bitcoin Holder Supply In Loss In a recent market report, on-chain analytics platform Glassnode claimed that the total volume of long-term holder (LTH) supply held in loss is “negligible,” with only 4,900 BTC (0.03% of LTH) acquired above Bitcoin’s current price. These long-term holders in loss are said to have been…

Bitcoin (BTC) Price Compressed Below $72K, But Dovish Fed Amid Soft U.S. Data, Global Rate Cuts May Bring All-Time Highs

boss

The big question going forward is if the U.S. Federal Reserve might join the rate cutting trend, and while some members of that central bank have suggested any monetary easing could be a 2025 story, recent data has shown softening in both inflation and economic growth. Tomorrow will bring the government’s May employment report and a weak read could boost the odds of an imminent Fed rate cut. Original

NYAG Sues 2 Crypto Pyramid Schemes, Promoters Targeting Haitian-Americans in $1B Scam

The Petions were two of AWS Mining’s top promoters – each recruiting at least 200,000 investors to their “downline” – earning them both the ceremonial title of “President,” the suit alleged. After AWS Mining went bust in April 2019, the couple decided to start a new company together, NovaTechFX, with Cynthia serving as CEO and Eddy as COO. NovaTech claimed to be a crypto and foreign exchange trading platform that advertised up to 4% returns per week. Source

Franklin Templeton Enables USDC Conversions on Benji Investments Platform

Franklin Templeton has announced that users of its Benji Investments platform can now convert USDC stablecoin to U.S. dollars to fund their investment in the Franklin Onchain U.S. Government Money Fund. This development allows institutional wallets to purchase shares represented by BENJI tokens. USDC Conversions Now Available for Franklin Templeton’s Onchain Fund on Benji Global […] Source CryptoX Portal