Day: July 4, 2024

Is Cardano the Next Big Winner? Analysts Predict Massive Surge as Bitcoin Wobbles

boss

Meet Samuel Edyme, Nickname – HIM-buktu. A web3 content writer, journalist, and aspiring trader, Edyme is as versatile as they come. With a knack for words and a nose for trends, he has penned pieces for numerous industry player, including AMBCrypto, Blockchain.News, and Blockchain Reporter, among others. Edyme’s foray into the crypto universe is nothing short of cinematic. His journey began not with a triumphant investment, but with a scam. Yes, a Ponzi scheme that used crypto as payment roped him in. Rather than retreating, he emerged wiser and more…

RWA Startup Hamilton Tokenizes US Treasury Bills on Bitcoin L2 Solutions

boss

Hamilton has announced the tokenization of U.S. Treasury bills on Bitcoin’s layer two (L2) platforms, stating that it marks a significant advancement in bridging traditional finance with Bitcoin’s decentralized finance (defi) sector. The move aims to enhance financial accessibility and liquidity within the Bitcoin ecosystem. U.S. Treasury Bills Tokenized on Bitcoin’s L2s Hamilton, a startup […] Original

Worldcoin Sentiment Improves, But March Highs Remain a Distant Dream

boss

Worldcoin (WLD) has been on a rollercoaster ride the past few months. After hitting an all-time high of nearly $12 in March, the coin embarked on a downward spiral, plummeting over 60% in the last three months. This dramatic drop has made investors jittery, with whispers of regulatory woes and profit-taking swirling around the beleaguered token. Related Reading However, a recent surge in price suggests a potential comeback story in the making for the token powering the digital identity application. As of today, WLD sits at $2.27, a modest yet…

Meta Launches Awards to Drive AI Innovation in Developing Regions

Meta launched the Meta Llama Impact Innovation Awards to support organizations in developing regions that use Meta’s advanced AI models, Llama 2 and 3, to solve local problems in education, environment, and other areas. The AI models are recognized for their enhanced reasoning capabilities and potential to drive economic and social opportunities. Grants of up […] Source CryptoX Portal

Bitcoin rally hinges on rate cut, Bitfinex exec says

boss

U.S. macroeconomic uncertainty drove Bitcoin to a two-month low, but cooling inflation suggests that monetary policy may soon bolster the risk appetite.  Bitcoin’s (BTC) dip under $57,000 followed minutes from the U.S. Federal Reserve meeting, which confirmed a continuation of current interest rates till economic data justifies looser policies. “The Fed’s decision to maintain a wait-and-see approach before committing to interest rate cuts signals a cautious optimism that inflation is on a downward trajectory but not sufficiently assured to justify immediate rate reductions,“ Head of Derivatives at Bitfinex Jag Kooner…

Are they a good thing?

While industry advocates have welcomed the finalized crypto tax measures after years of wrangling, messy deliberations about non-custodial providers still lie ahead. It’s been a long time consuming, but the Internal Revenue Service and the Treasury Department have finally agreed upon new crypto tax reporting rules for investors. At first, you may assume that these new guidelines would send shivers down the spine of exchanges and customers alike. But given there’s long been exasperation over a lack of clarity in the space, the policy — which attracted a whopping 44,000…

Crypto Exchanges in South Korea Address Rumors of Mass Altcoin Delistings, Say Fears Overblown: Report

boss

Crypto exchanges in South Korea are reportedly trying to dispel fears that the country’s new digital asset law could lead to a widespread delisting of cryptocurrencies. South Korea will enforce its first digital asset user protection law on July 19th. The legislation will require crypto exchanges to review their altcoin listings and assess the reliability of the coins’ issuers, user protection measures and compliance with regulations. In a new report, Bloomberg says that the country’s crypto exchanges are now pushing back on the idea that the Virtual Asset User Protection…

Bitcoin Closes CME Gap, Expert Predicts What Happens Next

boss

Crypto expert Michael van de Poppe has highlighted an important indicator which suggests that Bitcoin could make a crucial bounce from its current price level. This follows the flagship crypto’s recent decline below $60,000.  BTC’s CME Gap Has Closed Van de Poppe revealed in an X (formerly Twitter) post that Bitcoin’s CME gap has closed and added that it is time for the crypto token to enjoy a relief bounce from its current price level. From the chart he shared, Bitcoin will reclaim $60,000 as support before moving further to…

Fed’s Minutes Report Cites High Inflation and Economic Risks in Decision to Hold Rates

According to the minutes from the Federal Reserve’s Federal Open Market Committee (FOMC), the choice to maintain the federal funds rate in its current range was driven by concerns about ongoing inflation and economic instability. Economic Instability and Inflation Keep Fed Rates Steady At the June 11-12 meeting, the FOMC highlighted that although inflation has […] Source CryptoX Portal

Why Bitcoin could stay low until October: What analysts are saying

boss

The crypto market is on edge as Bitcoin hovers around $57,000, showing several bearish signals that could spell even more trouble ahead. With its daily 200-day moving average breached and RSI plummeting, many are questioning whether digital gold can withstand the upcoming storm. Adding fuel to the fire, the long-anticipated Mt. Gox repayments are set to begin in July, potentially releasing $8.5 billion worth of Bitcoin into an already volatile market. Will Bitcoin find its footing or tumble to new lows? Let’s dive into the data and see. Bitcoin currently…