Day: June 16, 2024

Breakout Alert! Chainlink On Verge Of Major Surge, Analyst Says

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After a period of consolidation, Chainlink (LINK), the oracle network powering decentralized applications (dApps), is exhibiting signs of a potential breakout. This bullish sentiment comes amidst a broader recovery in the cryptocurrency market, with Bitcoin regaining its footing above the crucial $65,000 support level. Related Reading Technical Indicators Look Verdant Renowned crypto analyst Jonathan Carter is among those betting big on LINK’s future. Chainlink’s price structure is forming a bullish pattern, Carter remarked, pointing to the token’s recent rebound from the middle line of a descending channel. #LINK ChainLink is…

Latam Insights: Paraguay Unveils Bitcoin Mining Centric Development Strategy, Itau Unibanco Rolls Crypto Trading for All Customers

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Welcome to Latam Insights, a compendium of Latin America’s most relevant crypto and economic news during the last week. In this issue: Paraguay unveiled a bitcoin mining-centric strategy, Itau Unibanco rolled out crypto trading services for all its customers, and Worldcoin decided to establish a hub in Argentina. Paraguayan Minister Unveils Future Economic Strategy Centered […] Original

Bitcoin at $1m? MicroStrategy buys more

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Today’s edition of the weekly recap: Bernstein predicts Bitcoin (BTC) to hit $1 million in 2033; Ethereum ETFs are expected to launch in July; MicroStrategy looks to buy more BTC; and more fraudsters are developing romantic relationships to defraud victims. Bernstein sees BTC at $1M despite market uncertainty  Pepe coin (PEPE) experienced an 11% surge over 24 hours to $0.0000129, with a rapid increase in volume to $1.27 billion. Toncoin (TON) also saw a similar surge, reaching a new all-time high of $8.13.  Interestingly, Mantra (OM) also hit a new…

200,000 ETH Options Expiry Spurs Demand

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Investors are bullish on Ethereum as the industry awaits the launch of Spot Ethereum ETFs. This sentiment is relayed through the recent expiration of Ethereum options contracts and the put-call ratio. According to data, over 200,000 ETH options recently expired, and the crypto community eagerly awaits the direction of the Ethereum price. Related Reading Notably, the majority of the expiring ETH options are call options, meaning buyers are betting the price will rise. At the same time, the put-call ratio is at 0.36. This low value means market participants are…

Trump Champions Bitcoin Mining, Vietnamese Increase Gold Buying, and More — Week in Review

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Former U.S. President Donald Trump expressed support for the bitcoin mining industry, advocating for producing the remaining bitcoin in the U.S. to enhance national energy dominance. Vietnam sees increased interest in gold bullion purchases due to favorable prices at state-owned banks. New York Attorney General Letitia James takes legal action against crypto pyramid schemes targeting […] Original

Experts Warn SEC’s Consolidated Audit Trail Is Unconstitutional

The U.S. Securities and Exchange Commission’s (SEC) newest surveillance tool, the Consolidated Audit Trail (CAT), has sparked significant concerns among privacy advocates and legal experts, who warn of an unprecedented expansion of government monitoring over financial transactions. SEC’s CAT Sparks Privacy Concerns and Legal Challenges Recent developments, such as the SEC implementation of the Consolidated […] Source CryptoX Portal

Analyst Calls Buy Signal As Solana Hits Key Support At $141

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According to data from CoinMarketCap, Solana (SOL) has been slightly positive in the last day, notching a market gain of 1.37%. This price increase, while little, is highly encouraging for investors considering Solana’s bearish form in the past week where it lost 8.11% of its market value. Interestingly, crypto analyst Ali Martinez postulates that SOL could sustain its current positive performance following the discovery of a buy signal. Related Reading Solana Hits Critical $141 Support, TD Sequential Hints At Price Surge Via his X handle on Saturday, Ali Martinez noted…

An Introduction to Bitcoin Ordinals

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Bitcoin Ordinals have emerged as a novel way to enhance the functionality and use of Bitcoin, the original cryptocurrency. By leveraging Bitcoin’s blockchain in a new and innovative manner, Ordinals bring unique value propositions and helps to revitalize Bitcoin’s developer community. What Are Bitcoin Ordinals? In simple terms, Bitcoin Ordinals are digital collectibles created by […] Original

Tech Entrepreneur Suggests Mainstream Companies May Have Adopted NFT Loyalty Programs Prematurely

According to Juan Otero, CEO of the crypto-native travel booking platform Travala, many mainstream companies that attempted to use non-fungible tokens (NFTs) for customer or user loyalty programs may have seized the opportunity prematurely. Otero argued that at the time, Web3 companies had not “even figured out the best ways to use NFTs in loyalty […] Source CryptoX Portal