Day: July 6, 2024

More than 10 years since the collapse of Mt. Gox, users confirm reimbursements

Defunct cryptocurrency exchange Mt. Gox has started payments to rehabilitation creditors as part of its rehabilitation plan. More than 10 years after its collapse, Mt Gox creditors are finally getting paid back. According to a July 5 announcement, payments are being made in Bitcoin and Bitcoin cash via centralized crypto exchanges designated to handle the transactions. However, rehabilitation creditors need to satisfy some prerequisites before receiving the payments. These include confirming the validity of their accounts and agreeing to the terms of the agreement from intermediary agencies handling the receipt…

Bitcoin Reclaims $56k But Still Faces Potential Drop to $47K, Analyst Reveals Why

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Bitcoin has recently exhibited resilience that has surprised many market spectators. Following a dismal drop to a 24-hour low of $53,898, Bitcoin clawed its way back above the $56,000 mark, up 1.6% in the past hour. This rebound has been catalyzed by the latest US NFP report revealing a surge in the unemployment rate, which has sparked a surge in buying activity, momentarily easing the bearish pressure. However, this recovery may not signal a sustained upward trend, as experts hint at potential further declines. Related Reading Analyst Bitcoin Predictions: A Potential…

Bitcoin Crashed Below $55,000 But Traders Are Not Fearful, Why?

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As Bitcoin faces strong headwinds, breaching two critical support levels at $60,000 and $56,500 in quick succession, it may, on the surface, appear that fear is gripping the market. There are reasons to be afraid, especially for coin holders leveraging BTC in decentralized finance (DeFi) protocols, looking to take out loans using the asset as their collateral. Fear Is Yet To Grip The Bitcoin Market Even as prices plunge, one on-chain analyst, taking to X, argues that the market is relatively composed and fear and panic haven’t fully gripped it…

Notcoin price action and the lessons for Pi Network

Notcoin price has dropped sharply in the past few weeks, erasing over $1 billion in market value. The NOT token slipped to a low of $0.0091 on Friday, its lowest level since May 29th and by over 64% from its highest point on record.  Notcoin price has lost momentum Notcoin and Pi Network are different assets in the blockchain industry. Notcoin is a Telegram mini-application that lets people earn tokens by just tapping a button. Anyone with Telegram can use the app and earn tokens. Pi Network, on the other…

Colossal Buying Pressure For Bitcoin And Solana As FTX Plans $16B Distribution, Expert

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In a significant development for the cryptocurrency industry, FTX, the exchange that collapsed in November 2022 under the leadership of convicted Sam Bankman-Fried, is preparing to distribute a staggering $16 billion in cash to its customers, which could lead to significant gains for Bitcoin (BTC) and Solana (SOL) prices.  Crypto researcher Xremlin has predicted that a considerable portion of this cash will flow back into the crypto market, serving as a catalyst for growth towards the end of the year.  FTX $16 Billion Cash Injection  In a recent social media…

Corruption in Paraguay: Senator States Illegal Bitcoin Mining Farms Pay up to $500,000 to Operate Underground

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Salyn Buzarquis, a Paraguayan senator, blasted the National Power Administration of Paraguay (ANDE), stating that high-ranking officials charged illegal bitcoin mining farms for operating underground. Buzarquis stated these unnamed officials collected up to $500,000 in bribes monthly and called for the resignation or interrogation of ANDE’s President Felix Sosa on this matter. Senator States National […] Original

Crypto heists near $1.4b in first half of 2024: TRM Labs

Cybercrime in the crypto sector has soared in the first half of 2024, with hackers stealing nearly $1.38 billion, nearly doubling last year’s figures. Cybercriminals have pilfered a staggering $1.38 billion from crypto investors in the first half of 2024, nearly doubling the $657 million stolen during the same period in 2023, according to data compiled by blockchain forensic firm TRM Labs. Consistent with 2023 trends, a handful of major breaches have dominated this year’s thefts, with the top five incidents accounting for 70% of the total haul, analysts say.…

Doomsday for Ethereum? ‘A Crash Down To $1,500 Is Coming,’ Says Skeptic, Here’s Why

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The crypto market is currently navigating through a turbulent phase, particularly for Ethereum, which has seen a significant downturn of nearly 15% in its value over the past week. Amid this negative price performance, Peter Schiff, a well-known economist and a skeptic of cryptocurrencies, has chosen to add salt to the wounds by projecting a stark prediction for ETH. According to Schiff, Ethereum could plummet to as low as $1,500, marking a substantial decline from its current levels. Related Reading Shiff’s Bearish Outlook And Community Reaction Schiff’s prediction comes when…

Shiba Inu is in danger as Shibarium TVL slumps, death cross nears

Shiba Inu price continued its strong sell-off as the crypto fear and greed index turned red for the first time this year.  SHIB is now down for three straight days and reached a low of $0.00001271, its lowest level since March 1st. It has dropped by almost 70% from its highest level this year, drastically underperforming major coins like Bitcoin and Ethereum.  Crypto fear and greed index has fallen Shiba Inu’s price has dropped amid fear spreading in the crypto industry. The crypto fear and greed index has now dropped…