Month: August 2024

Legendary Fibonacci Extension Reveals When Bitcoin Will Reach $109,000

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Crypto analyst CryptoCon has highlighted a technical indicator that has always accurately predicted each local high for Bitcoin in this bull run. Once again, this indicator has revealed the next local high for Bitcoin and when it will happen.  When Bitcoin Will Reach A Local High Of $109,000 CryptoCon predicted in an X (formerly Twitter) post that the Bitcoin Fibonacci extension is set to push the flagship crypto over $100,000 as it rises to $109,236, a move which the analyst added could happen by year-end. He suggested that Bitcoin reaching…

Solana Rockets Up 23% As Developments Spark Investor Interest

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Although the market dipped today, Solana has found its way to spark investor interest despite falling a few points in the past 24 hours. However, the token is still up nearly 22% in the past month, going against the market’s general bearishness after last week’s slip and slide.  Related Reading Solana’s significant traction around the world has garnered some attention in the institutional space, leading to a development that might help SOL weather the bearish storm ahead. But with the coming announcements of several macro indicators, there might be trouble…

USDT Issuer Tether to Fight Celsius’ $3.3 Billion ‘Shakedown’ Litigation

The case concerns a loan agreement between Celsius and Tether that allowed Celsius to borrow stablecoins “to operate certain critical aspects of its business,” according to the lawsuit. In the filing, Celsius alleges that when the market crashed in mid-2022, in the “ninety-day period prior” to Celsius’ bankruptcy filing, Tether insulated itself from the impending bankruptcy by making “preferential and fraudulent transfers” of bitcoin. Source

Binance to convert Monero, Bitcoin Gold to USDC, delist Loom Network

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Binance is set to convert over a dozen tokens into the USDC stablecoin while also delisting six additional tokens as part of its latest platform adjustments. Cryptocurrency exchange Binance is set to convert multiple tokens on its platform to USDC based on users’ holdings in their wallets as the exchange continues aiming to simplify trading pairs. In an Aug. 12 blog notice, the exchange said it will convert 15 tokens, including privacy-oriented Monero (XMR) and Bitcoin Gold (BTG) into Circle’s stablecoin USD Coin (USDC). Binance did not reveal the reason…

SUI Leads Crypto Market With 78% Weekly Uptick: Here’s Why

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Over the past seven days, Sui (SUI) has emerged as the standout performer in the crypto market, recording an massive 78% increase in its price. This surge positions SUI as the leader among the top 100 cryptocurrencies by market capitalization, significantly outperforming its peers, Helium (HNT) with a 60% increase and Bittensor (TAO) at 50%. Why Is SUI Up Over The Past Week? Andrew Kang, the founder of Mechanism Capital, provided insights into the SUI’s recent success in a series of posts on X. Kang suggested that the bullish trend…

Canto Blockchain Suffers Two-Day Outage Amid Consensus Issue

“Canto chain is currently experiencing an issue with consensus that has caused the chain to halt,” Canto said in an announcement on X. “An upgrade to address this issue will be carried out on Monday, August 12 UTC 12:00. All funds are safe. Once the chain resumes, users will be able to access all activities as usual.” Source

Bitcoin drops 4% as $156.4m in liquidations hits crypto market

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Bitcoin, the world’s largest cryptocurrency by market capitalization, has dropped 4% in the last 24 hours amid $155.25 million in liquidations across the crypto market. After holding above the $60,000 level for four consecutive days, Bitcoin (BTC) fell below this threshold on Aug. 11, dipping further to below $59,000. The cryptocurrency hit an intraday low of $58,269 after earlier reaching a high of $61,562. BTC price chart – Aug. 12 | Source; crypto.news Data from CoinGecko shows that the broader crypto market declined by 4.32% over the past 24 hours,…

Fantom (FTM) Poised For Massive Bull Run, Analyst’s 234% Rally Prediction Raises Eyebrows

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Fantom (FTM) might be up for a huge price breakout shortly after an analyst – Javon Marks – made public his prognosis of the altcoin. Related Reading Posting in X, Marks attributed this to the formation of a Hidden Bullish Divergence in the FTM chart. According to the analyst, this has the potential to cause a significant rebound in the token, including a 234% upside. At the time of writing, FTM was trading at $0.3278, down 6.7% in the last 24 hours, but sustained a 12.7% rally in the last…