Month: July 2024

Cardano Breaks Out Of Falling Wedge Pattern, Analyst Predicts 70% Rally For ADA

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Cardano (ADA) has correlated with the broader market, experiencing a retracement from its yearly high of $0.810 in March to as low as $0.357 on June 22. However, ADA has now deviated from the struggles of Bitcoin (BTC) and Ethereum (ETH), exhibiting a 2% increase in the past 24 hours and over 12% in the past two weeks. Explosive Rally For Cardano Intriguingly, technical analysts believe that ADA could be on the verge of an explosive rally in the coming weeks, potentially retesting its yearly high and setting the stage…

Bitcoin miner Genesis Digital Assets eyes IPO in US: report

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Alameda-backed crypto miner Genesis Digital Assets is reportedly in discussions with advisors about launching a pre-IPO funding round within the coming weeks. Genesis Digital Assets (GDA), a Bitcoin mining firm headquartered in Texas, is considering an initial public offering (IPO) in the U.S., despite significant investment from the now-disgraced hedge fund Alameda Research, founded by Sam Bankman-Fried. According to a Bloomberg report, the company is actively engaging with advisors to expedite its IPO plans, targeting a pre-IPO funding round as soon as in the “coming weeks.” It remains unclear if…

Hong Kong Professor: China’s Crypto Mining Ban Shifts Businesses to US

Professor Wang Yang, vice president for institutional advancement and chair professor at the Department of Mathematics at the Hong Kong University of Science and Technology (HKUST), criticized China’s cryptocurrency mining ban during a panel discussion in Hong Kong last week. He called the decision “very unwise” because it shifted businesses to the U.S., boosting American […] Source CryptoX Portal

Crypto Analyst Says Next Bitcoin Target Is $78,700 If BTC Breaks This Resistance

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An analyst explained that the next target for Bitcoin could be $78,700 if BTC could cross this resistance level of an on-chain pricing model. Bitcoin MVRV Extreme Deviation Pricing Bands Put Resistance At $65,800 In a new post on X, analyst Ali has discussed some price levels for Bitcoin that could be important based on an on-chain pricing model. The model is based on the Market Value to Realized Value (MVRV) ratio. The MVRV ratio is a popular indicator that, in short, keeps track of the ratio between the value…

Bittensor’s TAO Slides 15% After $8M Wallet Attack

Meanwhile, independent security researcher @ZachXBT said on his Telegram channel that one user was drained of 32,000 TAO, worth $8 million at the time, and suspected a private key leakage that led to the attack. A private key is a string of letters and numbers that acts as a password to protect and manage tokens in a wallet. Source

Boomers are better HODLers, Bloomberg analyst says

According to Bloomberg ETF analyst Eric Balchunas, the Bitcoin spot ETF market is showing that Boomers are proving to be much better hodlers than most people initially thought they would be. Balchunas shared these remarks on Tuesday as he commented on the spot Bitcoin ETFs positive flows. In a post on X, the analyst noted that US spot Bitcoin ETFs held strong amid ‘step back’ phase that saw a streak of outflows. Notable during this period, particularly in the past month, Bitcoin price fell sharply and struggled to recover. But…

FET Drops 9% As ASI Token Merger Phase 1 Kicks Off

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The Artificial Superintelligence Alliance (ASI) kicked off phase 1 of its token merger process. The project recently announced the beginning of the migration process with the delisting of Ocean Protocol (OCEAN) and SingularityNET (AGIX) from crypto exchanges. However, FET is facing some pressure following its rebranding and supply update. Related Reading ASI Token Merger Phase 1 Begins On July 1, the ASI alliance and Fetch.AI (FET) announced the multi-token merger to unify OCEAN, AGIX, and FET. As part of phase 1, withdrawals and deposits with OCEAN and AGIX would close…

Exploring Upward Momentum and Bullish Prospects

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Aayush Jindal, a luminary in the world of financial markets, whose expertise spans over 15 illustrious years in the realms of Forex and cryptocurrency trading. Renowned for his unparalleled proficiency in providing technical analysis, Aayush is a trusted advisor and senior market expert to investors worldwide, guiding them through the intricate landscapes of modern finance with his keen insights and astute chart analysis. From a young age, Aayush exhibited a natural aptitude for deciphering complex systems and unraveling patterns. Fueled by an insatiable curiosity for understanding market dynamics, he embarked…