Tag: Support

VanEck to support Bitcoin developers using ETF profits

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Investment firm VanEck commits 5% of potential profits from its proposed Bitcoin ETF to support Brink, increasing corporate support for open-source development. Investment firm VanEck has pledged to allocate 5% of potential profits from its proposed spot Bitcoin ETF to support Bitcoin core developers at Brink. In a statement, VanEck expressed gratitude and acknowledged the developers’ role as the cornerstone of the Bitcoin ecosystem. We’re not Bitcoin tourists at VanEck. We’re in it for the long haul. That’s why we made an initial $10k donation and signed a pledge to…

Bitcoin Plunges Below Support As Price Crashes To $42,500

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Bitcoin appeared to have been securely floating above support just earlier, but today, the picture has changed as the price has suddenly crashed to $42,500. Bitcoin Has Crashed More Than 6% During Past 24 Hours Bitcoin had kicked off 2024 with some sharp bullish momentum as the market had been looking toward the potential ETF approvals with hopeful eyes. The asset had only been at the $45,000 level not seen since April 2022 for just a couple of days before the price suddenly crashed. The chart below shows how cryptocurrency…

Ethereum Price Could Start 2024 With A Strong Increase If It Holds This Support

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Ethereum price is correcting gains below the $2,350 zone. ETH could attempt a fresh increase unless there is a close below the $2,200 support. Ethereum is correcting gains and trading below the $2,350 level. The price is trading below $2,320 and the 100-hourly Simple Moving Average. There is a key bearish trend line forming with resistance near $2,300 on the hourly chart of ETH/USD (data feed via Kraken). The pair could start a fresh increase if there is a close above the $2,350 level. Ethereum Price Eyes Fresh Increase Ethereum…

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

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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…