Day: June 28, 2024

Bitcoin Price Recovery: Here Are Challenges On The Road to Rebound

Bitcoin price is consolidating above the $60,550 support zone. BTC could avoid more downsides if it manages to recover above the $62,400 resistance. Bitcoin is still struggling to recover above the $62,200 and $62,400 levels. The price is trading above $61,500 and the 100 hourly Simple moving average. There was a break above a major bearish trend line with resistance at $61,250 on the hourly chart of the BTC/USD pair (data feed from Kraken). The pair might start another decline unless there is a close above the $62,400 resistance zone.…

Tezos X: Unveiling the Future of Modular Blockchain Design

The next generation of blockchain technology has arrived with the introduction of Tezos X, according to Tezos Spotlight. Developed by Nomadic Labs, Trilitech, and Functori, Tezos X promises a scalable, modular, and cloud-integrated backend for a wide range of applications. From Monolithic to Modular Initially, Tezos operated as a monolithic blockchain, where each node replicated all network activities. While effective in maintaining decentralization, this model posed significant scalability challenges. As network activity increased, so did the requirements for computing power and bandwidth, risking centralization. To…

Interpol Disrupts Scam Networks: 6,745 Bank Accounts Frozen, $2M Crypto Seized, 3,950 Arrested

Interpol’s Operation First Light, a global initiative involving 61 countries, has disrupted online scam networks by freezing 6,745 bank accounts and seizing assets worth $257 million, including $2 million in cryptocurrency. The operation targeted phishing, investment fraud, fake online shopping sites, romance, and impersonation scams, leading to the arrest of 3,950 suspects and identifying 14,643 […] Source CryptoX Portal

Experts Bullish On Ethereum ETFs Launching July 4, Predicting Potential Surge Beyond $7,000

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As the highly anticipated launch of the first spot Ethereum ETFs in the United States nears, experts are predicting a significant price appreciation for the second-largest cryptocurrency in the market. Ethereum ETFs On The Horizon According to a recent Reuters report, the US Securities and Exchange Commission (SEC) could approve Ethereum ETFs as soon as July 4, as discussions between asset managers and regulators enter the final stages.  Industry executives and other participants who requested anonymity due to the confidential nature of the talks revealed that the process of amending…

Retail Losing Interest In Bitcoin? Volume Plunges 30%

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On-chain data shows the Bitcoin transfer volume of retail investors has seen a sharp decline recently, a sign that this group may be losing interest. Bitcoin Volume For Retail-Sized Transactions Has Plunged Recently As explained by CrypoQuant author Axel Adler Jr in a new post on X, the total BTC transfer volume for transactions valued between $1,000 and $10,000 has gone down recently. The “transfer volume” here refers to the total amount of Bitcoin (in USD) that addresses on the network are moving around daily. This metric isn’t confused with…

Nigerian Blockchain Committee Warns Of Impact

The ongoing legal battle between Nigerian authorities and the crypto exchange Binance has significantly affected the country’s blockchain industry. The Blockchain Industry Coordinating Committee of Nigeria (BICCoN) recently expressed its concerns about the negative impact of the current dispute and urged for a “balanced resolution.” Nigerian Blockchain Industry Affected By Binance Saga BICCoN released a public statement addressing the ongoing legal issue involving Binance and its detained executive, Tigran Gambaryan. Nigeria’s blockchain committee voiced the concerns of the country’s leading organizations about the repercussions the dispute might have. The committee…

Robert Kiyosaki Bought 60 Bitcoins at $6K — Now Buys BTC Every Month

Rich Dad Poor Dad author Robert Kiyosaki has revealed that he purchased 60 bitcoins at $6,000 each and continues to buy more bitcoin every month. He explained that the crypto represents “rules-based money,” contrasting it with government fiat money, which he describes as “debt-based.” Kiyosaki emphasized that rules-based money increases wealth, while debt-based money diminishes […] Source CryptoX Portal

Crypto Analyst Says ‘XRP Is In Trouble,’ Here’s Why

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Crypto analyst Alessio Rastani has warned that XRP is in “trouble” following his recent analysis of the chart. He outlined certain “strong warnings” on the chart, which showed that the crypto token could experience further price declines. Why XRP Is In Trouble Rastani mentioned in a video on his YouTube channel that XRP could drop to $0.13 or even lower as part of Wave C of his analysis using the Elliot Wave Theory. He noted that a drop to that price level represents about a 100% decline for XRP from…