Day: August 10, 2024

Consolidation Phase Starts As Token Movement Plateaus

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After the market’s astonishing recovery, Solana (SOL) has entered another consolidation phase leading to lower volatility which gives the bulls much-needed rest after capturing huge gains. According to Coingecko, the token is down a measly 2% in the past 24 hours but is still in the green at the 30-day timeframe at over 9% gains. Related Reading Although SOL gained a lot during the market’s strong rebound, there has been some news that has also affected the token’s movement, hampering growth while shaking some investors off of the token.  Major…

Peru Issues VASP Regulation, Strengthens AML/TF Requirements

The Superintendence of Banking and Insurance (SBS) of Peru, has issued a resolution that forces VASPs to implement Know Your Customer (KYC) and anti-money laundering (AML) measures as part of a compliance plan. The resolution is in line with FATF recommendations and seeks to control and avoid criminals to use these platforms for illicit purposes. […] Source CryptoX Portal

Economist Art Laffer Slams US Economic Policies, Warns of Dollar’s Decline as Global Reserve Currency

Economist Art Laffer, known for his work on supply-side economics, has expressed concerns over the future of the U.S. dollar in a recent interview. Laffer argues that current U.S. economic policies are leading to the dollar’s decline, making it less attractive as a global reserve currency. Laffer Warns of U.S. Dollar Decline Amid Economic Policy […] Source CryptoX Portal

Cardano Eyes $0.3389: Can Bulls Sustain ADA Above This Critical Level?

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Cardano (ADA) is approaching a critical juncture as it eyes a retest of the key $0.3389 support level. In recent trading sessions, ADA‘s price has previously risen above this level and is currently dropping for a second retest thereby raising concerns among investors and traders.   A successful defense of the $0.3389 support could signal a potential reversal and renewed bullish momentum, while a breach below this level may open the door to further declines. This article aims to analyze the significance of the $0.3389 support level for Cardano and whether…

Solana Gains Ground on Ethereum and Bitcoin in 2024

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Over the past week, there’s been a buzz among market watchers about solana’s performance against BTC, especially when compared to ether. Since the year kicked off, ether has tumbled over 20% against the leading cryptocurrency, while solana has gained more than 5%. Solana, Ethereum, and Bitcoin — Dominance Competition Heats Up Among Crypto Giants In […] Original

Indian Crypto Exchange WazirX To Roll Back All Trades and Restore Balances Following $230,000,000 Hack in July

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Indian crypto exchange WazirX is reversing all trades and restoring customer balances after the platform was hacked to the tune of hundreds of millions of dollars in July. In a new thread on the social media platform X, WazirX says that after listening to the community, it has decided to roll back all trades made after the stoppage of withdrawals last month and restore all associated account balances. “All users will have their portfolio balances on the WazirX platform restored to what they were on 18 July 2024, 1 PM…

Bitcoin Set For Critical Price Resistance Encounter

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Semilore Faleti is a cryptocurrency writer specialized in the field of journalism and content creation. While he started out writing on several subjects, Semilore soon found a knack for cracking down on the complexities and intricacies in the intriguing world of blockchains and cryptocurrency. Semilore is drawn to the efficiency of digital assets in terms of storing, and transferring value. He is a staunch advocate for the adoption of cryptocurrency as he believes it can improve the digitalization and transparency of the existing financial systems. In two years of active…

Spot Bitcoin and Ethereum ETFs Shed Millions in Friday Trading

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During Friday’s trading sessions, U.S. spot bitcoin and ethereum exchange-traded funds (ETFs) experienced significant outflows, with $89.73 million exiting the BTC ETFs and $15.71 million flowing out of the ETH ETFs. Bitcoin and Ethereum ETFs See Reductions Data from sosovalue.xyz revealed that the 12 spot bitcoin ETFs collectively saw $89.73 million in outflows on Friday, […] Original

Santa Monica ‘Bitcoin Office’ section goes live on website

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The city of Santa Monica, California officially added a “Bitcoin Office” section on its website to bolster industry partnerships and increase employment opportunities. The move comes about a month after the Santa Monica City Council unanimously approved a pilot program for the Santa Monica Bitcoin (BTC) Office. The initiative is being implemented at no cost to the city, officials say. Following the approval of The City Council, Santa Monica unveiled the new section on its website on Thursday, Aug. 8.  The city’s administration is reportedly collaborating with the Proof of…

XRP Price Enters Wave 3, Crypto Analyst Puts Top At $36.76

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Crypto analyst Dark Defender provided an in-depth analysis of XRP price action using the Elliot Wave Theory. In his analysis, the analyst revealed what to expect from the crypto token and where its price is eventually headed.  Related Reading XRP Could Rise To As High As $18 On Its Next Leg Up Dark Defender revealed in an X (formerly Twitter) post that XRP is now in wave three based on the chart structure he shared, with the crypto token targeting $1.88, $5.85, and $18.22 on this bullish wave. The chart…