Category: Other Crypto News

Russia Introduces Bill To Criminalize Unregistered Crypto Services

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Russia’s government submitted a bill to its parliament’s lower house in an effort to amend the country’s legal code to attach criminal liability for crypto services offered without regulatory approval or licensing. In a draft law sent to the State Duma on Friday, Russian lawmakers proposed that entities “carrying out activities related to the organization of digital currency circulation,” that operate without a license from Russia’s central bank, could be subject to criminal liability. Without registration with the Bank of Russia, individuals could face up to $4,000 in fines and…

Can This Latest Integration Send Solana To $500 And XRP to $10?

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The crypto market is buzzing after new speculation about a potential collaboration between Solana (SOL) and XRP spread across social media. This comes alongside claims of a wrapped XRP (wXRP) expansion into Solana-based decentralized finance. The developments have fueled debates among traders and analysts, with some pointing toward potential liquidity shifts and others highlighting their bullish impact on prices. If true, an integration between Solana and XRP could be the catalyst the market has been anticipating to push them toward much higher valuations.  Solana Drops “XRP” Bomb On X The…

Polymarket Traders See 73% Chance of Hormuz Strait Reopening by May 31

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Polymarket prediction market odds of the Strait of Hormuz “returning to normal” by the end of May spiked to 73% on Friday, following news that Iranian officials have temporarily opened up the Strait of Hormuz as part of a ceasefire deal. The odds climbed to a high of 82% on Friday, after Iranian Foreign Minister Seyed Abbas Araghchi announced that the Strait of Hormuz is open. Since that time, the odds have fallen back down to 73%. He said in an X post: “The passage for all commercial vessels through…

The Hidden FVG Zone That Says Ethereum Price Could Rally To $10,000

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Ethereum has started to show signs of life again after weeks of muted price action, but one analyst believes the current move is only the beginning of something much larger. This inclination is based on a technical setup built around a hidden inefficiency zone after the Ethereum price recently broke above $4,500. The technical analysis shows that the unfilled gap may be the first waypoint in a recovery that eventually pushes the ETH price to five figures above $10,000. The FVG Zone Now Acting As A Magnet Technical analysis done…

US Senator Blumenthal Presses Officials for Update on Binance Oversight

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Connecticut Senator Richard Blumenthal questioned US authorities responsible for overseeing Binance about whether the company is complying with anti-money laundering laws and sanctions under its 2023 court-imposed monitoring program. According to a report published by Fortune on Friday, Blumenthal sent letters to the Justice Department and the US Treasury’s Financial Crimes Enforcement Network (FinCEN), asking for details on Binance’s compliance.  Binance and its former CEO Changpeng “CZ” Zhao reached a deal in 2023, in which the exchange would pay $4.3 billion to settle civil regulatory enforcement actions, and CZ would…

ETH Accumulation Wallet Balances Rise By 33%: Will ETH Price Follow?

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Ether’s (ETH) rally to $2,400 is nearly 38% above its swing low at $1,750, but is ETH’s price move simply a momentum trade, or do longer-term data points suggest a paradigm shift at play? ETH accumulation addresses absorb 6.5 million Ether Ether’s recent rally was preceded by an 89% surge in daily active addresses (DAA), which jumped to 730,278 from 384,763 on April 5. The increase in Ethereum’s active addresses indicates increased user interaction with the network, which is generally a positive. The chart below shows that activity increased significantly…

Why Ethereum Has Become One Of The Most Heavily Shorted Assets Globally

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Across global markets, Ethereum has emerged as one of the most heavily shorted assets, a positioning that reflects more than simple bearish sentiment. It signals a growing divergence between market expectations and ETH’s long-term fundamentals, placing the asset at the center of an increasingly complex macro and structural narrative. How Ethereum Short Interest Now Rivals Commodities Like Silver Ethereum is currently one of the most heavily shorted assets in the world, approaching the scale of traditional commodities like Silver. An analyst known as DGMD.6529 on X revealed that over the…

Payward To Acquire CFTC-Regulated Crypto Derivatives Platform Bitnomial

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Payward, the parent company of the Kraken cryptocurrency exchange, announced on Friday that it has entered into a “definitive agreement” to acquire Bitnomial, a US-licensed cryptocurrency and derivatives exchange; the deal values Bitnomial’s equity at $20 billion. Bitnomial is the “first” crypto-native exchange in the United States to hold all three regulatory licenses from the Commodity Futures Trading Commission (CFTC), including exchange, clearinghouse, and brokerage permits, according to Payward’s announcement. “Settlement mechanics, margin models, and contract structures define what products can exist and who can access them. The US has…

Bitcoin Liquidates $660M In Shorts As BTC Price Rallied Past $78K

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Bitcoin (BTC) rallied above $78,000 to hit another 10-week high on Friday as crypto and equity markets reacted to cooling tensions in the US and Israel war in Iran. The rally above range highs also resulted in a large liquidation of leveraged Bitcoin positions. BTC/USD one-hour chart. Source: Cointelegraph/TradingView More than $660 million in short positions were liquidated, with Bitcoin accounting for $353 million of that total. Ether (ETH) followed with $160 million in short liquidations. Related: Three things Bitcoin must do to hold highs above $76K: Analysts Across the…

Bitcoin, Altcoins Soar After Iran Opens Strait of Hormuz

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Key points: Bitcoin soared above $76,000, opening the doors for a further rally toward $84,000. Several major altcoins are showing strength, signaling broad-based buying by the bulls. Bitcoin (BTC) skyrocketed above the $76,000 resistance on Friday after Iran’s foreign minister said that the Strait of Hormuz will remain open for the remainder of the ceasefire between the US, Israel and Iran. Another positive sign for the bulls is that BTC’s rise has been supported by solid accumulation by the whales. According to CryptoQuant data, BTC whales holding more than 1,000…