Day: June 19, 2024

Ethereum Price To Hit $10,000, ‘Just The Way The Chips Have Fallen,’ Analyst Says

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Crypto analyst and trader Tyler Durden has revealed his bullish sentiment towards Ethereum (ETH). The analyst suggested that the ETH rise was inevitable and that it was better for traders to go with the tide.  Ethereum Is Set To Rise To $10,000 Durden mentioned in an X (formerly Twitter) post that Ethereum to $10,000 is the “most asymmetric bet” in crypto today. He further stated that “as annoying as that is, [it’s] just the way the chips have fallen,” suggesting that ETH’s rise to this price level was inevitable. He…

The Protocol

3. Polkadot’s decentralized governance approved the Join-Accumulate Machine (JAM) protocol as the network’s future architecture, according to the team: “JAM, a minimalist blockchain concept, will support secure rollup domain-specific chains and offer synchronous composability across services. To encourage development, Web3 Foundation launched the JAM Implementer’s Prize, a 10 million DOT fund (~$64.7M USD), for creating diverse JAM implementations. This initiative aims to enhance scalability and flexibility in blockchain applications, integrating elements from Polkadot and Ethereum for a versatile, secure environment.” The JAM “gray paper” by Polkadot founder Gavin Wood is…

Whales Dump $1 Billion In Bitcoin: Fire Sale Or Foreshadowing?

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Bitcoin seems to be hitting an air pocket. Over the past two weeks, whales have been shedding their digital assets in large amounts. This exodus, totaling over $1.2 billion according to CryptoQuant, has been a cause for concern for many landlocked investor. Related Reading Where The Whales Go, The Market May Follow The reasons for this sudden sell-off remain murky, but analysts point to a confluence of factors. One theory suggests a shift in priorities for miners, the brawny machines that secure the Bitcoin network and earn rewards in the…

The Importance of Diversifying Digital Asset Portfolios for Optimal Returns

Expand to an actively managed portfolio encompassing tokens from the Top 150 by market cap and you start to see a much more dynamic picture, spanning Layer 1s and related infrastructure (like scaling solutions and interoperability), DeFi (from trading and lending to asset management), entertainment (including gaming and the metaverse), decentralized physical infrastructure networks (DePIN, including projects for distributed compute power with tie-ins to AI), real-world-assets (RWAs), and more. While some of these projects may carry greater risk on their own, diversification helps manage the risk of the overall portfolio.…

Jump Crypto Adds $10M to Industry’s U.S. Political War Chest, Raising PAC to $169M

Both efforts saw a higher-than-expected showing of support from Democrats, and the tallies are being used to assess lawmakers. Stand With Crypto, an advocacy group started by Coinbase, maintains a grading system for politicians. The “D” grade for Sen. Mark Warner (D-Va.), for instance, reflects his no vote on the SAB 121 resolution, while the “B” grade for Sen. Chuck Grassley (R-Iowa) shows he was for it. Source

Why Bitcoin And Crypto Are ‘On Verge Of Cannibalism’: Ikigai CIO

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Travis Kling, Founder and Chief Investment Officer of Ikigai Asset Management, shared his insights on the current state of Bitcoin and the broader cryptocurrency ecosystem, which he described as following: “Bitcoin is ~10% off of ATHs and the timeline appears to be on the verge of cannibalism.” In a series of detailed posts on X, Kling dissected the complex interplay of macroeconomic factors, ETF flows, and internal market dynamics that are shaping the cryptocurrency markets. Why Is Bitcoin Trading Flat? Kling began his analysis by addressing Bitcoin’s performance relative to…

Crypto Exchange Kraken Says Hackers Used Bug Bounty Program for ‘Extortion’ After $3M Exploit

Nick Percoco, Kraken’s chief security officer, said in a post on social media platform X (formerly Twitter) that the firm received a “bug bounty program” alert from a security researcher on June 9 about a vulnerability that allows users to artificially inflate their balance. The bug “allowed a malicious attacker, under the right circumstances, to initiate a deposit onto our platform and receive funds in their account without fully completing the deposit,” Percoco added. Source BitcoincryptoexchangeExchanges CryptoX Portal