Day: December 2, 2024

Dogecoin Boom Over? Crypto Analyst Warns Of Sell Signal

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Este artículo también está disponible en español. After staging a massive rally, the Dogecoin price is currently in a consolidation phase. And this is also reflected in the technical indicators. Crypto analyst Kevin (@Kev_Capital_TA) is warning of a potential sell indicator. In his latest update on X, Kevin shared a weekly DOGE/USDT chart and outlined technical signs that traders should monitor closely. Dogecoin Price Analysis Kevin highlighted that Dogecoin is “printing a sell signal on the weekly time frame with the red dot appearing,” cautioning that this signal requires confirmation…

The Role of Cryptocurrency in Reducing Banking Costs for Small and Medium Businesses

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Cryptocurrencies and blockchain technology are really the latest transformative tools to have emerged for SMBs in their quest to reduce banking costs and smoothen financial operations. Most traditional banking services charge high transaction fees, take a long time to process and are not cross-border capable. By leveraging crypto, SMBs find innovative ways to enhance efficiency and stay competitive in an increasingly globalized market. High Banking Costs While trying to avail every facility available, even smaller and medium-sized businesses face more serious problems through traditional bank systems. Indeed, in a recent…

NFT sales, floor prices surge, CryptoPunks lead the charge

Non-fungible tokens have been seeing a sharp increase in their daily sales over the past month as the broader crypto market entered its bullish phase. NFT sales increased by 28% in the past 24 hours to $40.4 million, according to data provided by CryptoSlam. This is the highest level of trading volume for the sector in over seven months — last seen in late April. Ethereum (ETH) is leading with $26.4 million in daily sales, followed by Bitcoin (BTC) and Solana (SOL) with $6.3 million and $2.5 million in trading…

Crypto Analyst Says Litecoin Is About To Pull An XRP, Here’s What He Means

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Este artículo también está disponible en español. Crypto analyst Tony Severino said Litecoin is about to pull an XRP, suggesting that the coin could soon enjoy a parabolic rally. The analyst alluded to a bullish indicator on LTC’s chart, which showed that the crypto could witness this parabolic rally.  Litecoin Is About To Pull An XRP, Here’s Why In an X post, Tony Severino said that Litecoin is about to pull an XRP, noting that the crypto is now above the monthly upper Bollinger Band. This suggests that LTC has…

Monitok’s AI Trading Assistant — Your Key to Smarter Crypto Decisions

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Este artículo también está disponible en español. As we come to the end of 2024, it’s important to acknowledge that although there have been some ups and downs this year, some great inroads have also been made such as the Bitcoin halving event (marking the start of the bull market), approval of spot Bitcoin and Ethereum ETFs, as well as the implementation of Ethereum’s Dencun Upgrade (enhancing the leading Layer 2’s efficiency, scalability and security). However, when it comes to crypto trading, things haven’t been smooth sailing, and traders have…

Asset managers in US propose new Bitcoin ETFs to target cautious investors

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Asset managers are turning to new derivatives-based Bitcoin ETFs to help cautious investors navigate the crypto’s notorious price swings. U.S. asset managers have filed plans with regulators to launch Bitcoin (BTC) exchange-traded funds that use derivatives to eliminate or at least minimize potential losses in an effort to attract cautious investors seeking exposure to the crypto market with reduced risk. According to a Financial Times report on Monday, Dec. 2, the proposals include a range of “buffered” and “managed floor” strategies, which reduce risks by protecting investors from big losses…

SBI VC trade to acquire Japan’s DMM Bitcoin following May hack

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Japanese cryptocurrency exchange DMM Bitcoin is reportedly ceasing all efforts to relaunch the hacked trading platform despite initiating recovery plans. According to a Nikkei Asia report, the exchange will shut down operations and sell all assets to SBI Group-owned trading company SBI VC Trade, with the sale expected to be completed by March 2025. A Dec. 2 statement released by SBI VC Trade confirms that the company has reached an agreement with the exchange and will acquire all Japan crypto exchange DMM Bitcoin set for liquidation. The specific date of…

Unlucky gamblers lost big on the $100k Bitcoin bet

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Traders betting on Bitcoin’s surge to the $100,000 mark have been liquidated on the market prediction platform Polymarket. Bitcoin (BTC) rallied to an all-time high of $99,655 on Nov. 22, increasing the chances of breaking the $100,000 barrier to 91%, according to a poll on Polymarket.  However, the flagship cryptocurrency soon started to face correction and even touched a local low of $90,800 on Nov. 27. The asset closed November close to the $98,000 mark. Consequently, one trader, known as TomApproves on Polymarket, placed a $114,000 bet on Bitcoin reaching…

Japan’s DMM Bitcoin Exchange Plans to Shut Down

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The Japanese cryptocurrency exchange DMM Bitcoin, part of the DMM.com Group, is ceasing operations and preparing for liquidation. The exchange plans to transfer its customer deposits to SBI VC Trade, a local crypto exchange owned by SBI Holdings, by March 2025. Asset Transfer to Another Exchange Announced today (Monday), DMM Bitcoin and SBI VC have reached a basic agreement for the transfer of all customer accounts and deposit assets. “Under this agreement, customer deposit assets (in Japanese yen and crypto assets) in accounts opened on DMM Bitcoin will be transferred…