Day: July 5, 2024

Solana-Based Memecoin Defies Market Downturn, Jumps Over 30% in 24 Hours Amid Listing on Multiple Exchanges

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One Solana-based (SOL) meme asset is defying market doldrums and rallying after being listed on numerous crypto exchange platforms. New data reveals that Billy (BILLY), a dog-themed memecoin built over Solana, has jumped over 30% during the last 24 hours after multiple crypto exchange platforms added support for it. The crypto exchange platforms that listed Billy include Bittrue, Bitget, MEXC, and Gate.io, who all announced support for the meme asset earlier this week. Billy is trading for $0.1659 at time of writing, a 36% gain during the last day. On…

Northern Data accused of fraud by ex-directors amid US IPO efforts

Amid efforts to go public, Northern Data faces accusations of fraud from former executives who allege they were ousted for whistleblowing. European Bitcoin mining giant backed by stablecoin issuer Tether, Northern Data, is embroiled in legal controversy as two of its former executives allege they were dismissed for raising concerns about fraud. In a lawsuit filed in the California Central District Court, ex-Northern Data executives Joshua Porter and Gulsen Kama say the Frankfurt-headquartered company was “falsely misrepresenting the strength of its financial condition to investors, regulators and business partners,” adding…

Buy The Dip? XRP Whales Doing Exactly That

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The cryptocurrency market continues to navigate choppy waters, with many digital assets experiencing significant price drops. However, XRP seems to be charting a different course. While the broader market sentiment remains cautious, large investors, often referred to as “whales,” have been quietly accumulating XRP. This bullish behavior by whales, coupled with positive technical indicators, has some analysts predicting a potential surge for XRP in the coming months. Related Reading XRP Whales Dive Deep: A Sign Of Confidence Or Opportunism? According to data from Santiment, a blockchain analytics firm, the holdings…

7 Events That Could Shift the Crypto Market Landscape in an Instant

The cryptocurrency market finds itself in a challenging situation, with a mix of obstacles and potential opportunities that could influence its future positively. This editorial examines the elements that the crypto community might encounter and highlights key points to consider amid the current market volatility. 7 Distinct Things That Could Instantly Change Everything Bitcoin has […] Source CryptoX Portal

Social Media Screams “Sell” As Bitcoin Crashes To $54,000: Buy Signal?

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Data shows users on social media platforms have been calling to sell Bitcoin after its latest crash, a signal that contrarian traders may be waiting for. Bitcoin Sentiment On Social Media Has Turned Quite Bearish According to data from the analytics firm Santiment, social media is showing historic levels of FUD amid the market drawdown. The indicator of interest here is the “Social Volume,” which basically tells us about the degree of discussion around a given topic or term that users on the major social media platforms are currently participating…

Economist Highlights Possible ‘Hidden Recession’: Official Figures May Understate Inflation Impact

In a recent editorial, economist Peter St Onge explores the potential of a hidden economic recession, suggesting that official figures might not reveal the full extent of the decline. St Onge raises concerns about the accuracy of U.S. inflation data and its implications for measuring true economic growth. Peter St Onge, Official Figures May Understate […] Source CryptoX Portal

Shiba Inu Sees Sharp 100% Decline In Whale Activity, Is This Good Or Bad For Price?

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On-chain data shows that Shiba Inu (SHIB) has witnessed a massive decline in whale activity. This is significant for the meme coin’s ecosystem, considering the impact these investors usually have on Shiba Inu’s price.  Shiba Inu’s Whale Activity Declines By Over 100% Data from the market intelligence platform IntoTheBlock shows that Shiba Inu’s whale activity has declined by over 100% in the last seven days. This is based on the large holders’ netflow metric, which indicates when these whales are adding to their positions or offloading their tokens.  Related Reading…

Cryptocurrency Thefts Double to $1.4 Billion in First Half of 2024

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The value of cryptocurrency stolen in hacks worldwide more than doubled in the first six months of 2024 compared to the same period last year, driven by a few large-scale attacks and increasing crypto prices, according to blockchain researchers at TRM Labs. Surge in Crypto Theft Hackers stole over $1.38 billion worth of cryptocurrency by June 24, 2024, compared to $657 million in the first half of 2023, TRM Labs reported. The median theft size was one-and-a-half times larger than the previous year. Ari Redbord, global head of policy at…

MultiversX (EGLD) leads crypto gainers amid key wallet integration

MultiverseX (EGLD) is the top gaining cryptocurrency among top 100 coins by market in the past 24 hours, with price up 11% after the team announced integration with Safepal. EGLD price rose to $32.93 on Friday, breaking higher from lows of $27.35 as most altcoins mirrored Bitcoin’s crash to under $54,000 earlier in the day. The upside also keeps MultiverseX in the green on the weekly time frame, currently with double-digit gains to contrast the picture for most altcoins that are deep red over the same period. MultiverseX soars amid…