Tag: Support

Avalanche To Support Meme Coins; AVAX To The Moon?

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The Avalanche Foundation is expanding its support of meme coins. This move could further boost the popularity of Avalanche, a low-fee and high-throughput blockchain, and even support its native coin, AVAX. Avalanche Foundation To Support Meme Coins Taking to X on December 29, the foundation said it would continue its Culture Catalyst initiative to encourage meme coin activity, among others, including Real-World Assets (RWAs), non-fungible tokens (NFTs), and more. This campaign, they continue, aims to foster innovation and propel the adoption of blockchains by supporting the creation of “new forms of creativity,…

Decentralized Exchange Altcoin Soars Nearly 70% in a Week Amid Massive Support for Proposed Cuts in Token Supply

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One decentralized exchange (DEX) platform is skyrocketing as its community shows overwhelming support for its proposed supply cut of tokens. In a new proposal, over 97% of the community members of decentralized crypto exchange PancakeSwap (CAKE) voted to lower the digital asset’s token supply to a maximum cap of 450 million. “Now that CAKE has achieved consistent deflation for several months and is focusing on accelerating our journey to ultrasound CAKE, this proposal aims to reduce the CAKE token’s total supply to a maximum cap of 450 million CAKE. With…

Fairshake Super PAC, Affiliates Raise $78M to Support Crypto, Blockchain Candidates in 2024 US Election

Please note that our privacy policy, terms of use, cookies, and do not sell my personal information has been updated. The leader in news and information on cryptocurrency, digital assets and the future of money, CoinDesk is an award-winning media outlet that strives for the highest journalistic standards and abides by a strict set of editorial policies. In November 2023, CoinDesk was acquired by Bullish group, owner of Bullish, a regulated, institutional digital assets exchange. Bullish group is majority owned by Block.one; both groups have interests in a variety of…

FASB’s Fair Value Recognition Reignites $42,000 Support Recovery

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The Bitcoin price experienced a notable downturn as selling pressure intensified, resulting in a decline of over 4% from its annual peak of $44,500. This downturn was further exacerbated by the loss of the crucial $42,000 support level.  However, the largest cryptocurrency in the market received a substantial uplift from the US Financial Accounting Standards Board (FASB), which has spurred a rapid 1.8% surge in BTC’s value within the past two hours. As a result, Bitcoin has successfully recovered the $42,000 support level. FASB’s Fair Value Recognition Brings Clarity To…

FTX And IRS Lock Horns Over $24 Billion Tax Bill, FTT’s Key Support Wavers

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In a striking turn of events, the Internal Revenue Service (IRS) in the United States has presented a staggering tax bill of $24 billion against the bankrupt cryptocurrency exchange FTX.  FTX Challenges IRS’s $24 Billion Tax Bill According to court filings and FTX’s response to the IRS’s claims, several key arguments challenge the basis of the tax bill. Firstly, FTX highlights that its operations spanned three years, never distributing dividends or earnings.  Secondly, the exchange’s defense attorneys claim that the company incurred substantial losses rather than generating income that could…

Analyst sees support for Dogecoin at 9 cents

Crypto analyst KrissPax believes Dogecoin has found a floor of around 9 cents despite retreating from recent highs. In a video posted to his YouTube channel on Dec. 12, crypto analyst and influencer KrissPax weighed in with his latest thoughts on the price action and outlook for popular memecoin Dogecoin (DOGE). The analyst believes the broader crypto market is currently in a period of pullback and consolidation after the sharp run-up across many major cryptocurrencies last month. He cited Bitcoin (BTC) falling below $42,000 as an example of the market…

Binance Peer-to-Peer Trading Platform Halts Ruble Support Following Russia Exit

Please note that our privacy policy, terms of use, cookies, and do not sell my personal information has been updated. The leader in news and information on cryptocurrency, digital assets and the future of money, CoinDesk is an award-winning media outlet that strives for the highest journalistic standards and abides by a strict set of editorial policies. In November 2023, CoinDesk was acquired by Bullish group, owner of Bullish, a regulated, institutional digital assets exchange. Bullish group is majority owned by Block.one; both groups have interests in a variety of…

Crypto Analyst Expects 200% Jump As Critical Support Forms

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Crypto analyst Egrag has provided insights into the current market conditions of the XRP price from a technical analysis perspective. He highlighted a critical support level for the crypto token and also reasserted his bullish prediction for XRP when the bull run returns.  XRP Could Rise To $2 From This Support Level In a post shared on his X (formerly Twitter) platform, Egrag mentioned that XRP could rise to as high as $2 once it is able to hit the support level of $1.2. He shared an accompanying chart to…

Cardano Foundation Unveils Identity Wallet to Support Seamless Web3 Adoption

The new Cardano Foundation-backed mobile wallet is interoperable with other blockchains and also prioritizes asset security and user privacy. Cardano (ADA) network, a leading smart contract-focused blockchain with more than $378 million in total value locked (TVL) in its decentralized financial (DeFi) protocols, has grown to a mature ecosystem despite the devastation of the 2022 crypto bear market. The Cardano network has seen exponential growth in the staked ADA, amid the mass adoption of digital assets and the web3 industry led by institutional investors. Backed by the Cardano Foundation, IOHK,…

Bitcoin Price Holds Key Support, Can Bulls Overcome This Key Hurdle?

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Bitcoin price dived again and retested the $40,000 support zone. BTC is rising, but it must clear $42,350 to move into a positive zone. Bitcoin is attempting a fresh increase from the $40,000 support zone. The price is trading below $43,600 and the 100 hourly Simple moving average. There was a break above a connecting bearish trend line with resistance near $41,300 on the hourly chart of the BTC/USD pair (data feed from Kraken). The pair could gain bullish momentum once it clears the $42,350 resistance zone. Bitcoin Price Remains…