Month: July 2024

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…

Mt. Gox Bitcoin Payout Fears Wipes Out $170 Billion From Crypto Market

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The cryptocurrency market experienced a substantial downturn on Friday, compounding the selling pressure witnessed over the past two weeks. The leading cryptocurrency, Bitcoin (BTC), retraced over 20% from its highs in June and May, dropping as low as $53,500.  The market decline was largely attributed to the long-awaited trustee overseeing the Mt. Gox bankruptcy, who announced the commencement of Bitcoin and Bitcoin Cash repayments to creditors affected by the infamous hack that resulted in billions in losses.  As a result, the entire cryptocurrency market shed over $170 billion in combined…

Ethereum Price Prediction | Is ETH a Good Investment?

How will the recent market crash impact Ethereum price prediction? Experts weigh in on potential outcomes. The crypto market experienced extreme turbulence over the past 24 hours. Bitcoin (BTC), the leading cryptocurrency, plummeted to a new low of $53,700 on July 5.  The market-wide sell-off intensified following reports that Mt. Gox, the infamous collapsed crypto exchange, transferred over 47,000 BTC (worth approximately $2.6 billion) to a new wallet in preparation for a large-scale payout totaling about 142,000 BTC (valued at $7.9 billion at current prices). On July 5, during Friday’s…

Comparing The Profitability Of The Top Meme Coins

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Holders of the top meme coins have witnessed rough price action in the past few weeks. The majority of meme cryptos have crashed hard during the last week, with losses of over 20% in each asset across the board. Particularly, holders of the top meme coins Dogecoin, PEPE, and Shiba Inu have been disappointed, as the price drop means many of them have now fallen out of profitability.  Interestingly, IntoTheBlock’s “In/Out Of The Money” metric shows a varying level of profitability in each meme coin, and it seems like SHIB…

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…