Day: June 14, 2024

MATIC Price Tests 8-Month Support As Polygon Unveils New Governance Hub

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Polygon’s native token, MATIC, has experienced a notable disparity compared to the broader cryptocurrency market. Unlike the top cryptocurrencies that have posted double-digit gains year-to-date, MATIC has failed to post positive performance across all time frames since the 2021 bull run. Adding to the concern, MATIC’s price has recorded losses amounting to 16.5% over the past seven days. This downward trend has prompted the token to test a crucial macro support level, raising questions about its future trajectory. Amid these developments, Polygon has announced a strategic partnership with Aragon, a…

South Africa’s ANC Party Secures Victory in SA Election, Cyril Ramophosa Re-Elected

The election results are not expected to have a significant impact on South Africa’s burgeoning crypto industry. The country’s top regulator, the Financial Sector Conduct Authority, recently set up a licensing regime for crypto, making it one of the first African nations to do so. The country recently started licensing digital asset firms, and crypto companies Luno, Zignaly, and VALR were among the first to get a license in April. In 2022, the country included crypto providers in its Financial Advisory and Intermediary Services Act so it could regulate digital…

Worldcoin to Establish Latam Hub in Argentina Despite Heavy Scrutiny

Worldcoin, the biometric identification project, has announced a new expansion process in Argentina, where it reportedly will seek to open 50 new locations with eye-scanning hardware. The announcement comes after Buenos Aires indicted Tools For Humanity, the company behind Worldcoin, for including abusive clauses in its service agreements, and a meeting between Worldcoin executives with […] Source CryptoX Portal

Two Men Charged With Running Darknet Marketplace Empire Market

Prosecutors say Thomas Pavey, 38, of Florida, and Raheim Hamilton, 28, of Virginia, owned and operated Empire Market from 2018 to 2020. During the period Empire Market operated, prosecutors say the pair processed $430 million in transactions on the site, which allowed users to anonymously purchase illegal goods and services. Source

Ethereum HODLers Scoop 298,000 ETH In 24 Ahead Of Spot ETF Trading

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Ethereum is under pressure at press time, tumbling roughly 15% from March 2024. As sellers press on, reversing all gains posted from May 20, on-chain data points to a bullish picture. Ethereum HODLers Scoop 298,000 ETH In 24 Hours Taking to X, one analyst notes a spike in ETH demand, especially from permanent holders. Most likely, these permanent holders are institutions with deeper pockets and are willing to hang on. Unlike retailers, these entities can often choose to hold for longer and won’t be shaken out by market volatility. Ethereum…

Utah Senator Seeks to Abolish Federal Reserve

Republican Senator Mike Lee from Utah has introduced legislation to abolish the U.S. central bank and its Board of Governors. Lee contends that the U.S. Federal Reserve has “repeatedly failed” the American public and argues for its dissolution. Federal Reserve Targeted for Abolition by Senator Mike Lee Following the lead of House Representative Thomas Massie […] Source CryptoX Portal

Ethereum Withdrawals From Coinbase Top $1.2 Billion, What’s Going On?

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Ethereum has seen a number of notable withdrawals that suggests that crypto whales are expecting a recovery in price. These large withdrawals has caused the ETH balances on centralized exchanges to fall to their lowest level since 2016. 336,000 ETH Withdrawn From Exchanges Crypto analyst Ash Crypto took to X (formerly Twitter) to reveal a notable change in the amount of ETH that is being held on centralized exchanges currently. Notably, there has been a marked increase in the withdrawals of small and large investors alike, leading to the highest…

Notcoin surges 11%, nearly flips VET, MKR and OP

Notcoin (NOT) has surged more than 11% in the past 24 hours, breaking above $0.021 as bulls hit a two-week high. The Telegram-based game token’s price is likely to rally further amid fresh momentum for the related Toncoin (TON) coin, which hit a new all-time high on Friday to push 100% of addresses into profitability. After surging double-digits, Notcoin’s market cap has reached $1.9 billion, ranking the recently launched coin of the viral tap-to-earn game 49th among largest cryptocurrencies by market cap. In comparison, VeChain (VET), Maker (MKR) and Optimism…

Mass Adoption Would Ruin Crypto. Keep It a Niche

“The risk of growing adoption is that new entrants aren’t aware of Bitcoin’s core principles: decentralization, self-custody, hard money, etc. If new entrants don’t learn, understand, and espouse these core beliefs, the features that make them reality may not remain in the protocols over time,” said Alex Thorn, the head of firmwide research at investment bank Galaxy Digital. Source

Dogecoin Plunges 11%, But This On-Chain Cushion Could End Decline

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Dogecoin has observed a plummet of 11% over the past week, but this decline may not continue further, as DOGE is now just above a major on-chain support block. Dogecoin Is Now Just Above A Major On-Chain Demand Zone According to data from the market intelligence platform IntoTheBlock, DOGE is currently above a zone of significant on-chain demand. In on-chain analysis, “demand zones” refer to price ranges in which many investors buy their coins. Related Reading These zones are determined using blockchain data; the average price at which an address receives…