Day: August 26, 2024

36% Chance for Durov’s Freedom in August: Polymarket’s High-Stakes Bet on Telegram Founder’s Fate

According to the blockchain-powered prediction market Polymarket, bettors are giving Telegram founder Pavel Durov a 36% chance of being released this month. Durov was taken into custody by French judicial police at Le Bourget airport in France, facing allegations related to facilitating crimes such as fraud, terrorism, and drug trafficking. Polymarket’s $200K Gamble: Will Durov […] Source CryptoX Portal

New Bitcoin All-Time High? Here’s When, If History Repeats

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Following the Bitcoin price surge back to $64,000, crypto analyst Rekt Capital is predicting a major breakout move in the coming weeks. In a new video analysis, the analyst forecasts a significant market movement around October 2024, based on historical precedents and current chart patterns. Will October Be Bullish For Bitcoin Again? Looking at the weekly chart, Rekt Capital identifies a downtrending channel. Over the past four weeks, BTC has been deviating below this channel, searching for support that would enable a price expansion above the channel’s bottom. This movement…

Analyst Sees 65% Chance Of Retest Before Surge To $68,000

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Bitcoin (BTC) has regained significant momentum over the past week, breaking free from the $49,000 lows it reached during the broader market crash on August 5. Since the past seven days, the flagship cryptocurrency has surged over 8%, climbing above the critical $63,000 level and reaching as high as $65,000 on Sunday. This latest rally has crypto analysts optimistic about Bitcoin’s prospects for further upside, with some eyeing a potential move towards $68,000 soon. However, not all technical experts are convinced the path forward will be completely smooth sailing. Two…

Kraken Says Exchange Will Win Against SEC, Urges Congress To Pass Comprehensive Regulatory Framework for Crypto

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Kraken says the crypto exchange is confident it will win its legal battle with the U.S. Securities and Exchange Commission (SEC). Last week, U.S.; District Judge William H. Orrick denied Kraken’s request to dismiss the case filed by the SEC alleging that the exchange violated securities laws. The regulator alleges that Cardano (ADA), Algorand (ALGO), Solana (SOL) and several other coins traded on Kraken are “crypto asset securities.” Kraken’s chief legal officer Marco Santori says that while Judge Orrick decided to keep the case going, the exchange anticipates winning against…

Crypto Startup Backed by Likes of Dragonfly Aims to Create Market to Trade Airdrop-Related Points

While various projects have seen real value brought by the accelerated growth from leveraging points programs, there have been issues around unmet promises and users getting airdrops and payouts from their point programs that are much less than they were expecting, said Rumpel Labs CEO Kenton Prescott – a former developer of MakerDAO. Meanwhile, there are users out there who want to get extra exposure to these projects, but have no way of getting that, Prescott added. Source

Crypto Analyst Says Cardano (ADA) Is Set For 1,000% Rally To $4.29, Here’s Why

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Cardano (ADA) has been stuck in a challenging position for the past few years, struggling with stagnant price growth despite being one of the most popular altcoins in the space. A crypto analyst has offered insights into why Cardano has underperformed while also maintaining an optimistic outlook and predicting a 1,000% rally to new highs this cycle.   Cardano On The Verge Of A 10X Rally Crypto analyst Max Maher recently released a YouTube video predicting that Cardano could witness a 3X, 5X or 10X surge soon. The analyst highlighted several…

Bitcoin Sets New Transaction Milestones as Top Ten Busiest Days Occurred in 2024

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In 2024, the Bitcoin network has hit some significant milestones, including reaching an all-time high price, achieving peak hashrate and difficulty, and recording the highest onchain fees ever. On top of these metrics, the blockchain also saw its busiest transfer day in history on April 23, with 927,010 transactions confirmed in one day. Bitcoin’s High-Traffic […] Original

Thailand raids illegal Bitcoin mine after frequent power outages

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Thai authorities raided an illegal Bitcoin mining operation in Ratchaburi, a town west of Bangkok, following reports of frequent blackouts over the past month.  According to AFP reports, the raid, carried out by the Provincial Electricity Authorities and local police, uncovered evidence of Bitcoin (BTC) mining rigs consuming large amounts of electricity. These grids were unregistered and were not being paid out or reported properly.  Power grid issues  Jamnong Chanwong, a chief district security officer, explained in the AFP report that the operation likely became fully operational in mid-July, coinciding…

Bitcoin Layer 2 Stacks readies for Nakamoto upgrade activation

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Stacks, the biggest Bitcoin layer-2 network, will be in the spotlight this week as the rollout of the Nakamoto upgrade starts. Stacks (STX) token was trading at $1.80 on Monday, Aug. 26, up by 68% from its lowest level in August.  The token will be in focus as developers begin rolling out the Nakamoto upgrade, the most significant event in the platform’s history. According to a recent X post by the developers, this upgrade is expected to be a game-changer for the network. It will reduce the average transaction time…