Day: August 2, 2024

What is Choke Point 2.0?

Joe Biden administration’s ongoing efforts to deny cryptocurrency companies access to banking services have become known as Choke Point 2.0. Operation Choke Point Background Introduced by former president Barack Obama’s administration in 2013, Operation Choke Point was intended to combat fraud and illegal activity by denying criminals access to the banking system. By forcing financial institutions to cut ties with high-risk businesses, regulators hoped to “choke off” how illicit actors could continue to fund their operations. Despite the good intentions, there were concerns in the community that legitimate businesses were…

Bitcoin price spared from Intel and Nvidia stocks meltdown

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Bitcoin price held steady above $64,000 on Friday, even as technology stocks like Intel and Nvidia slumped.  Bitcoin (BTC) was trading at $64,700, up by 4% above its lowest point this week and 8% below its highest level on Monday despite a very red day on Wall Street on Thursday. Semiconductor companies were among the worst performers. Intel stock dropped by over 22%, reaching its lowest point since 2015. It has dropped by over 65% from its highest point since April 2022. The sell-off happened after the company published weak…

Whale Transfers $4.2 Million PEPE To Binance

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Recently, a massive transaction shook the digital currency ecosystem. A prominent whale transferred 400 billion PEPE tokens—worth about $4.22 million—to Binance. Related Reading Strategically timed among the general negative market mood, this move seems to be a deliberate one for partial profit booking. The whale’s behavior corresponds to the breach of a critical support level around $0.00001075, a key threshold that has lately increased the downward pressure on PEPE’s price. A whale deposited 400B $PEPE($4.22M) to #Binance to take profits in the past hour. The whale withdrew 795.92B $PEPE($2.55M at…

Is Aave on the brink of a breakout or pullback?

Aave (AAVE) has surged by 64.7% in less than a month. With such a strong rally, the question now is whether AAVE can continue its upward momentum or if it faces a potential pullback. In this week’s analysis, we examine the key technical indicators, resistance levels, and strategic considerations to determine the most likely direction for AAVE in the coming days. Resistance and support analysis Aave (AAVE) faces a critical juncture as it approaches a very strong resistance level at $115. This level has a significant history, having acted as…

Ditobanx and ICP Hub Mexico Launch Initiative Promoting Cryptocurrency Use at Universities

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Ditobanx and ICP Hub Mexico recently partnered to launch an initiative promoting the use of cryptocurrencies at Mexican universities. As part of this program, over 4,000 students received $5.42 (100 pesos) worth of Ckbtc, the so-called bitcoin twin, to use at campus cafes, restaurants, and copy shops. Boosting Cryptocurrency Usage at Mexican Universities Salvadoran fintech […] Source

Polygon Price Risks Plunge With 90 Million MATIC Tokens Selling At $0.5

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Polygon (MATIC) recently broke below the crucial support level at $0.5 and is at risk of further price declines. This price drop is thanks to several traders who offloaded their tokens as soon as Polygon reached this support level amid the downtrend in the broader crypto market. Polygon Faces Significant Selling Pressure The Exchange-Onchain Market Depth indicator on the market intelligence platform IntoTheBlock shows that Polygon is currently facing significant selling pressure. Over 90 million tokens were sold after the coin hit $0.5. This indicator tracks the order books of…