Month: August 2024

Can This Drive A New ATH Above $5,000?

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The worst looks to be over for Ethereum (ETH), as certain metrics suggest that the bottom is already in for the second-largest crypto by market cap. Based on this, ETH looks to be headed for a new all-time high (ATH), surging past its current ATH of $4,800.  Ethereum MVRV Shows Bottom Is In Data from the onchain analytics platform Glassnode shows that Ethereum’s market value to realized value (MVRV) lowest pricing level is at $1,687, which suggests that the bottom is already in for the crypto token. These MVRV pricing…

Polygon (MATIC) Breakout Can Propel Price To $1 In Days: Analyst

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Polygon (MATIC) stands as one of the top performers in today’s crypto market, ranking third among the top-100 cryptocurrencies by market cap as of August 21. With a gain of 9% within the last 24 hours, the MATIC price recent surge is outpaced only by the Justin Sun associated crypto assets, TRON (+12%) and BitTorrent (+22%). Over the past week, MATIC has experienced a notable rally, accumulating over a 23% increase in its value. This upswing has positioned MATIC at a crucial juncture from a technical analysis standpoint. Crypto analyst…

Top Republican Retains Hope U.S. Crypto Legislation Can Get Done This Year

“The motivation and the incentives are there. Two pieces of the incentives that are really important, [House Financial Services Committee Patrick] McHenry [in] financial services, [Senate Agriculture Committee Chair Debbie] Stabenow [are both retiring members,” he said. “Schumer wants to give Stabenow a swan song, which could be this legislation. So you have the forces on both sides of the aisle in a bicameral way, working to get something done so that their legacy includes legislation that will be incredibly beneficial, not only to the industry, but in my opinion,…

Solana-Based Memecoin Rug Pulled By McDonald’s Hacker, Market Cap Plummets 98%

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Ronaldo is an experienced crypto enthusiast dedicated to the nascent and ever-evolving industry. With over five years of extensive research and unwavering dedication, he has cultivated a profound interest in the world of cryptocurrencies. Ronaldo’s journey began with a spark of curiosity, which soon transformed into a deep passion for understanding the intricacies of this groundbreaking technology. Driven by an insatiable thirst for knowledge, Ronaldo has delved into the depths of the crypto space, exploring its various facets, from blockchain fundamentals to market trends and investment strategies. His tireless exploration…

Nearly Half of All Corporate Election Spending in 2024 Cycle Comes from Crypto Companies, Study Finds

The author of Public Citizen’s report, research director Rick Claypool, described the crypto industry’s political spending as “unprecedented.” Crypto companies’ direct spending in the past three election cycles totals $129 million, or 15% of all known corporate contributions since 2010, the year that the U.S. Supreme Court ruled in Citizens United v. Federal Election Commission that corporations have a First Amendment right to make unlimited donations to candidates via PACs. Source

Is A Bitcoin (BTC) Negative Correlation With Stocks A Bullish Signal? Analyst Reveals 

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Bitcoin (BTC) and U.S. stocks have shown a negative correlation lately, with Bitcoin often moving in the opposite direction of traditional markets. This divergence has caught the attention of analysts and investors, especially as the cryptocurrency enters a period of consolidation along with the broader crypto market. Historically, shifts in this correlation—from negative to positive—have often signaled a bullish trend for Bitcoin.  Related Reading As both markets face challenges, the changing dynamics between BTC and U.S. stocks could provide crucial insights into where the market is headed. Investors are closely…

Terraform Labs’ Fate Hinges on Sept. 19 Bankruptcy Hearing

The Chapter 11 bankruptcy reorganization hearing for Terraform Labs Pte. Ltd. and Terraform Labs Limited is set for Sept. 19, 2024, at 10 a.m. EDT. This hearing will be pivotal in shaping the future of the crypto company, which has encountered substantial hurdles since the Terra ecosystem’s collapse in 2022. Terraform Labs Faces Pivotal Bankruptcy […] Source CryptoX Portal