Day: June 19, 2024

Altcoin Massacre? Prices Drop 40-90%, Recovery Stalled: Analyst

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The once-sizzling altcoin market is facing a harsh reality check. Prices have plummeted a staggering 40-90% in recent months, mirroring past crashes but with a glacial pace that’s leaving investors numb. Renowned crypto analyst Daan Crypto sees this as a necessary correction, albeit a slow and potentially painful one. Related Reading Echoes Of Crashes Past, But With A Muted Roar Seasoned crypto veterans might be experiencing a sense of deja vu. The scene: altcoin prices in freefall, portfolios hemorrhaging value. The twist? This bear market, while no less brutal in…

Metamask Updates Privacy Policy, Explains When It May Process Users’ IP Addresses

Metamask, the popular Ethereum wallet, has updated its privacy policy. The update provides users with greater transparency and control over their personal data, specifically concerning IP address processing. According to the new policy, Metamask may temporarily process a user’s IP address only when required for certain services, depending on the user’s Metamask settings. This is […] Source CryptoX Portal

CBDCs Could Boost Middle East’s Financial Inclusion, Payment Efficiency But May Not Be Essential: IMF

“Specifically, in Middle East and North Africa oil exporters and the Gulf Cooperation Council countries, where financial markets are relatively more developed, the priority is making both domestic and cross-border payments more efficient, while for Middle East and North Africa oil importers, the Caucasus and Central Asia, and low-income countries, it is expanding financial inclusion.” Source

Crypto Enthusiasts Gain Political Influence as Presidential Candidates Endorse Blockchain

Crypto Enthusiasts Shape U.S. Political Landscape In a significant development, U.S. presidential candidates are increasingly endorsing blockchain technology, aiming to garner support from the younger electorate. According to Pantera, this demographic shift is poised to impact the upcoming elections and the regulatory environment for digital assets. The majority of Americans under the age of 40 have shown a strong affinity for blockchain technology. Recognizing this trend, one presidential candidate publicly expressed support for blockchain, a move seen as strategic to attract single-issue voters passionate about…

This Is The Biggest Issue With Altcoins This Cycle: Crypto Analyst

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In a thread on X, Miles Deutscher, a renowned figure in the crypto analysis sector, has dissected what he views as a critical flaw in the current altcoin market. Addressing his extensive following, Deutscher elaborated on the impact of the rapid increase in the number of new crypto tokens, an issue he believes to be at the core of the altcoins’ underperformance in this cycle. The Proliferation Of Crypto Since April 2024, the crypto landscape has witnessed the introduction of over 1 million new crypto tokens, with a notable half…

Bitcoin Month-Long Rally Comes To An End: Price Plunges Below $65,000

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Bitcoin (BTC), the largest cryptocurrency by market capitalization, experienced a significant decline on Tuesday, echoing the broader downtrend in the cryptocurrency market. Fueled by worries about the global economy and reduced summer liquidity, Bitcoin dropped below the $65,000 mark for the first time since May 16.  Notably, Ethereum (ETH) also faced a 4% loss, trading at $3,400, while other cryptocurrencies, such as XRP, Solana (SOL), and dogecoin (DOGE), suffered even bigger declines. Market Uncertainty Persists Marko Jurina, CEO of Jumper.Exchange, a decentralized exchange (DEX), highlighted that during economic and market…

Patrick McHenry Explains FIT21's Passage

Congressman Patrick McHenry (R-N.C.) chairs the powerful House Financial Services Committee, and has been the leading Republican on the panel for years. Last year, he spent a few weeks as the Speaker Pro Tempore of the House of Representatives, after lawmakers voted to oust then-speaker Kevin McCarthy (R-Calif.). McHenry announced his retirement in December and will leave office when his term expires this coming January. He spoke virtually at Consensus 2024 in Austin at the end of May. Source

Can Cardano (ADA) Reclaims This Resistance and Gain Bullish Momentum?

Aayush Jindal, a luminary in the world of financial markets, whose expertise spans over 15 illustrious years in the realms of Forex and cryptocurrency trading. Renowned for his unparalleled proficiency in providing technical analysis, Aayush is a trusted advisor and senior market expert to investors worldwide, guiding them through the intricate landscapes of modern finance with his keen insights and astute chart analysis. From a young age, Aayush exhibited a natural aptitude for deciphering complex systems and unraveling patterns. Fueled by an insatiable curiosity for understanding market dynamics, he embarked…

SEC Closes Ethereum 2.0 Investigation

Consensys has announced that the U.S. Securities and Exchange Commission (SEC) has decided to close its investigation into Ethereum 2.0. This decision implies that the SEC will not allege that sales of ETH are securities transactions. The announcement follows a request from Consensys to the SEC to affirm that the approval of ETH exchange-traded funds […] Source BitcoincryptoexchangeExchanges CryptoX Portal