Day: September 5, 2024

Head of the State Duma’s Financial Market Committee: National Digital Currencies to Be Considered for Bilateral Settlements Between China and Russia

Anatoly Aksakov, head of the State Duma’s Financial Market Committee, has discussed the use of national digital currencies for bilateral settlements between Russia and China. In a recent interview with Russian media, Aksakov stated that these instruments will be considered for such settlements as soon as the regulatory and technological platforms for this task are […] Source CryptoX Portal

Ethereum (ETH) Triangle Formation Hints At A Double Bottom: Breakout and New ATH?

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Este artículo también está disponible en español. Ethereum is trading near its yearly low of $2,400 after an 18% drop from local highs. ETH has notably underperformed compared to Bitcoin and other altcoins like Solana this cycle, leading to investor concerns.  Related Reading One of the key reasons for this underperformance is the lack of enthusiasm surrounding Ethereum ETFs. Metrics from these funds show low interest from traditional investors, adding to the bearish sentiment around ETH.  As the crypto market is gripped by fear and uncertainty, Ethereum traders are searching…

Litecoin Looks Poised To Explode As Grayscale Buys 10,000 LTC

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Este artículo también está disponible en español. Litecoin (LTC) is set to enjoy a significant price increase due to massive buying pressure from institutional investors like Grayscale. A recent analysis by crypto analyst 28 Crypto also showed that Litecoin is poised to enjoy significant price gains.  Grayscale Adds 10,000 LTC To Its Portfolio In an X (formerly Twitter) post, crypto commentator Bamboo shared data from the crypto data analysis platform Coinglass, showing that Grayscale had recently added 10,000 LTC to their portfolio. Further data from Coinglass showed that the asset…

Nexo Reopens UK Registrations With Enhanced User Protections

Nexo, a crypto lending platform known for offering instant crypto-backed loans and high-yield interest accounts, has resumed new user registrations in the United Kingdom after a 10-month hiatus, implementing enhanced user protections to comply with the Financial Conduct Authority (FCA) guidelines. The platform has introduced mandatory risk warnings, cool-off periods, and improved compliance measures to […] Source CryptoX Portal

Dogecoin Falls Below Trendline Resistance, Eyes On $0.09149 Breach

Este artículo también está disponible en español. Dogecoin (DOGE) finds itself in a challenging position as bearish forces continue to dominate the market. Currently trading below a key descending trendline, DOGE faces mounting pressure that could push the price toward the critical $0.09149 support level. With the bearish trendline acting as a formidable resistance, any failure to hold this support could signal further downside movement. This article aims to provide a comprehensive analysis of Dogecoin’s current negative outlook, highlighting its position under the trendline resistance and the potential implications of…

Venezuelan opposition leader hails Bitcoin as a ‘lifeline’

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María Corina Machado discussed Bitcoin’s role in helping Venezuelans combat hyperinflation and economic collapse in an interview. Machado discussed the economic challenges faced by Venezuelans in a recent interview with Alex Gladstein of the Human Rights Foundation, published in Bitcoin Magazine. They talked about how Bitcoin (BTC) acts as a financial hedge for citizens under the Chávez and Maduro regimes. Machado pointed out that the national currency, the bolívar, has been hit by inflation, losing 14 zeros since 1999. She described Bitcoin as a “lifeline,” allowing Venezuelans to bypass government-controlled…

Bitcoin (BTC) Price Slips Below $56K as Crypto Weakness Continues; Coinbase (COIN) Falls to 7-Month Lows

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Crypto-focused stocks also performed poorly. Crypto exchange giant Coinbase (COIN) declined 1%, briefly slipping below $160 for the first time since February, taking out the lows hit during the early August crash due to the Japanese yen carry trade unwind. Large-cap bitcoin miners Marathon (MARA) and Riot Platforms (RIOT) were down 4% and 2%, respectively. Original