The layer-two initiative known as BOB, short for ‘Build on Bitcoin,’ has declared its mainnet operational with over 40 apps launching in the initial phase. Notably, the BOB application that facilitates bridging and access to the ecosystem is geo-blocked in the United States. BOB Mainnet Activates, Project Expects a ‘Bitcoin-Driven Defi Summer’ On May 1, […]

On Thursday, Zksnacks, the developer behind Wasabi Wallet, announced its decision to cease its coinjoin services following regulatory measures in the U.S. The company stated that the wallet will now operate as a standard non-custodial bitcoin wallet without the coinjoin feature. Zksnacks Withdraws Coinjoin Feature from Wasabi Wallet Following intensified regulatory scrutiny in the U.S., […]

Recently, Messari’s founder and CEO, Ryan Selkis, has expressed strong opinions about the potential impact of a Joe Biden reelection on the cryptocurrency industry in the United States. On Thursday, Selkis voiced his concerns on the social media platform X, stating that a “second Biden term will lead to mass wealth confiscation and crypto seizures.” […]

Coinbase, a leading U.S.-based cryptocurrency exchange, has finally announced the implementation of the lightning network, a Bitcoin layer 2 scaling solution. Coinbase will now allow its users to take advantage of this scaling protocol to avoid paying high fees for Bitcoin transactions, enhancing the utility of crypto for customers using Coinbase’s services. Coinbase Adds Lightning […]

PRESS RELEASE. Road Town, British Virgin Islands — May 2, 2024. EYWA, a consensus bridge that secures transactions across multiple protocols, has raised a total of $7 million as it delivers the new era of Web3 interoperability. The investment has been led by Curve Finance founder Michael Egorov — with the project recently attracting two […]

David Marcus, the former president of Paypal and the current CEO of Lightspark, envisions bitcoin as the primary currency for artificial intelligence (AI) in the future. He describes bitcoin as “maximally neutral,” highlighting its advantages over conventional fiat currencies like the euro or the U.S. dollar. Bitcoin Poised to Become Default Currency for AI, Says […]

A new study by Fidelity Digital Assets reveals that as bitcoin matures, its volatility is decreasing, making it less volatile than several S&P 500 stocks. “As the asset class matures and its total market cap grows, the inflow of capital is expected to have a smaller impact because it will be flowing into a larger […]

On May 1, 2024, U.S. spot bitcoin ETFs experienced their most significant single-day outflows since their inception on Jan. 11, 2024. ETF Institute Co-Founder: ‘Inflows Don’t Go up in a Straight Line’ Data sourced from coinglass.com reveals that these funds saw a withdrawal of $563.7 million on Wednesday, with Fidelity’s FBTC experiencing the highest outflow, […]

The Middle East and North Africa (MENA) lead the world in the adoption of blockchain and cryptocurrencies because governments in the region actively promote digital transformation in their strategic future visions, according to Faisal Al Monai, chairman and co-founder of Droppgroup. This commitment by governments in the region “creates a favourable environment for the growth […]

Unknown attackers recently siphoned digital assets valued at just under $1.6 million from the decentralized finance protocol, Pike Finance. The protocol announced it is offering a 20% reward for the return of the funds, while an ongoing investigation into the incident continues. USDC Vulnerability The decentralized finance (defi) protocol, Pike Finance, said on May 1 […]

As Bitcoin slumps, on-chain data by Ki Young Ju, the founder of the blockchain analytics platform CryptoQuant, paints a stark picture: all new whales, including holders of spot exchange-traded funds (ETFs), are now underwater.  New Whales And Spot ETF Investors Are In Red Taking to X, Ju said that more losses would be incoming, predicting that HODLers will find “max pain” at around $51,000. The dip is less than $10,000 from spot rates, suggesting that although there are cracks, the correction might not be deep. Related Reading: Whales Dive In, But Dogecoin Price Sinks 20%: What’s Going On? This overview is welcomed, considering the recent sell-off. Even so, predicting price bottoms in a fast-moving market influenced by multiple forces is tough. As price action stands, Ju says believers may take the opportunity to double down on the coin. The founder adds that the current price discount presents an opportunity for savvy investors to outperform traditional finance whales, including institutions with BTC exposure via spot ETFs in the United States.  Bitcoin is under immense liquidation pressure at the time of this writing. Though bulls soaked up the sell-off earlier today, the coin remains within a bearish breakout. Prices are trading below the support zone of between $60,000 and $61,000 and below April 2024. Inflow To Spot Bitcoin ETFs Decline As Sentiment Deteriorate This formation suggests that though bulls are optimistic, the path of least resistance remains southwards for now. BTC dropped after posting impressive returns from October 2023 to March 2024, when prices peaked. Some analysts think the current cool-off is inevitable following sharp gains in the last six months. The fact that whales are underwater was unexpected, considering the state of affairs in the last week of April. Then, the inflow from new whales nearly doubled the cumulative holdings of older whales. Analysts said this influx of fresh capital pointed to growing institutional interest. However, looking at the current price action, new whales are now in the red territory, and their excitement seems to wane.  Related Reading: Bitcoin Bull Run Over? Analyst Predicts What To Expect Now According to Lookonchain data, inflow into the eight-spot Bitcoin ETFs, including BlackRock, has stalled. On May 1, all issuers, including Grayscale via GBTC, decreased by 1,950 BTC. Of note is that BlackRock’s IBIT has not seen inflows for five straight days. Still, confidence abounds. Inflows into spot Bitcoin ETFs are highly influenced by sentiment, which rests on how prices perform. If BTC shakes off the current weakness and tears higher in the expected post-Halving rally, spot ETF issuers will begin receiving new inflows.  Feature image from DALLE, chart from TradingView

The Bitcoin price continues to trend below $60,000 as a 20% decline triggered a brutal market-wide crash. This has exposed multiple critical support points for the cryptocurrency, some of which the price has already fallen below. In light of this, a crypto analyst known as Norok has revealed the level the BTC price must not fall below to maintain its bullish trend. Bitcoin Price Must Hold Above $51,800 In an analysis posted on the TradingView website, crypto analyst Norok revealed that $51,800 is now the most important support level for Bitcoin. Norok pointed out that Bitcoin has since returned to its last support level which was last seen in December 2023, making this a crucial support. In the meantime, the support that had been built up by bulls at the $62,000 level has since been broken by bears and has now been turned into resistance. Nevertheless, the crypto analyst does not believe that the Bitcoin price has turned bearish, despite the crash that has rocked the crypto market. For Norok to turn bearish, he stated that the BTC price would have to break down below support at $51,800. According to him, such a move will invalidate whatever bullish thesis is in play for Bitcoin, ending the bullish trend of 2023-2024. Source: TradingView.com In the short term, Norok identifies $56,900 as a level that bulls must hold. He explains that this could help to reinforce the current bullish trend. “Price must hold here at this Support and then it can recapture the cloud to resume to Bullish Trend,” the crypto analyst said. “This is a highly decisive moment in Price action today.” BTC Suffers As A Result Of ETF Outflows One major driver of the Bitcoin price decline in the last few weeks has been a turn from inflows to outflows in Spot Bitcoin ETFs. Since these ETFs require the issuers to hold BTC to support the assets they are selling to investors, inflows are incredibly bullish as these issuers have taken to buying BTC to fulfill this requirement. However, with investors beginning to withdraw their funds, the reverse has been the case, leading to a high selling pressure in the market. Spot Bitcoin ETFs have now recorded six consecutive trading days of outflows, reaching an all-time high outflow record $563.7 million on Wednesday, according to data from Coinglass. Source: Coinglass If these outflows continue, then the BTC price could continue to decline, and at the current rate, the pioneer cryptocurrency might be testing Norok’s $51,800 soon enough. However, a turn toward inflows would mean issuers have to buy BTC and this can translate to a price recover. BTC price pushes to $59,000 | Source: BTCUSD on Tradingview.com Featured image from Kiplinger, chart from Tradingview.com

An analyst has explained how the “fair value” of Bitcoin appears to be on track to achieve the $1 million milestone by 2035. Bitcoin Total User Count Could Forecast Fair Value Path Forward In a new post on X, analyst Willy Woo has discussed about how the fair value of Bitcoin could look like in the future based on the growth curve in the total user count on the network. Related Reading: Bitcoin Greed No More: Sentiment Back At Neutral After $57,000 Plunge The “total user count” here refers to the total number of investors present in the BTC space. Often, this metric is equated with the total number of addresses on the network carrying a balance, but in reality, it’s not the most accurate method as a lot of investors own multiple wallets. To make an estimation of an adoption curve, Woo has referred to all past studies done on the user count. The analyst shared the below chart in an X post a few days back. The adoption curve of the cryptocurrency over its entire history | Source: @woonomic on X The early part of the chart here is based on Glassnode’s on-chain clustering of addresses into “entities.” An entity is a collection of Bitcoin wallets that Glassnode has determined to belong to the same investor. For the next part of the curve, Woo has added the Cambridge and Crypto.com data on verified exchange users. Finally, the analyst has projected the resulting growth rate forward. According to this curve, there are a total of 426 million Bitcoin investors at the moment, with the number estimated to hit the 0.5 billion milestone by October of this year. Interestingly, the price of the cryptocurrency has been oscillating around this total user count growth curve throughout the years, as the below chart depicts. The adoption curve of the asset compared against its price action | Source: @woonomic on X More specifically, this oscillation in the price around the adoption curve of the cryptocurrency has existed since 2012. This means that in the pre-2012 period (the shaded region in the graph), this pattern doesn’t quite hold. “In the early days price was slow to catch up to user count, BTC didn’t even have a price until the 1000th user came in,” notes Woo. “Price discovery started with early markets like New Liberty Standard and MtGox. By Aug 2011 Bitstamp launched and we had multiple global exchanges to properly price the asset.” Now, if the growth curve of Bitcoin is taken as a guide for its future value as well, then the analyst projects a $1 million per BTC fair value by the year 2035. “Fair value” here is based on the line around which the asset has been oscillating. Related Reading: Crypto Analyst Predicts 244% Shiba Inu Rally Based On Bull Flag From the chart, it’s visible that BTC has historically gained distance over this line during bull markets, so the peak value in future rallies can be significantly more than this fair value. It now remains to be seen how the price of the cryptocurrency will develop in the coming years and whether this relationship between it and the total user count will continue to hold or not. BTC Price Bitcoin has observed a plunge of more than 8% over the past week, which has brought its price down to $58,600. Looks like the price of the coin has registered a sharp drop recently | Source: BTCUSD on TradingView Featured image from iStock.com, chart from TradingView.com

Cryptocurrency analyst Rekt Capital has come up with an intriguing narrative pointing to several trends in the current price action of Bitcoin that are similar to the price trends seen in the 2016 bull cycle, even as market sentiments continue to dwindle.  Bitcoin Trends Reiterating 2016 Pattern According to Rekt Capital, more than a month after the initial analysis, Bitcoin keeps demonstrating how much it closely resembles the cycle of 2016. Similar to 2016, Bitcoin has experienced further declines over the past three weeks following the Halving below the Range Low of its Re-Accumulation Range also known as the Post-Halving Danger Zone The post read: Over a month later Bitcoin continues to prove how it is more similar to the 2016 cycle. Just like in 2016, Bitcoin in this cycle is seeing additional downside below the Range Low of its Re-Accumulation Range in the three-week window after the Halving (i.e. Post-Halving “Danger Zone”). Given that Rekt Capital already addressed the concept of the Post-Halving Danger Zone, the analyst is not shocked by this current price decrease. During the 2016 cycle, about 21 days after the Halving event, BTC saw a lengthy decline of 11% before transitioning toward an upward direction. It is worth noting that Rekt Capital noted that if downside volatility around the Re-Accumulation Range Low is going to happen in this cycle, 2016 history indicates it may happen during the 15 days following the Halving. Since the recent event was concluded about 12 days ago, the expert’s prediction could be realized in the upcoming days. Related Reading: Bitcoin Enters ‘Danger Zone’ Post-Halving, Analyst Warns Of Potential Downside While the Post-Halving “Danger Zone” ends in 15 days, 2016 data suggests that there may be some negative volatility in the interim, possibly reaching the $60600 Range Low. Drawing attention to previous patterns, Rekt Capital highlighted a similar pattern between the 2016 and 2024 pre-Halving re-accumulation range. After a breakout from the re-accumulation range this year, BTC witnessed a Pre-Halving rally, as was observed in 2016. Pre-Halving Retrace Movement Just like in 2016, once the pre-Halving rally peaked, Bitcoin started its Pre-Halving retrace. Specifically, this occurred roughly 28 days prior to the Halving event in both 2016 and 2024. Related Reading: Analyst Warns Of Bitcoin Pre-Halving Retrace Echoing Troubling 2020 Trend A negative wick on the weekly candle indicates a significant reaction in the first week of the pre-Halving Retrace in 2016. However, this reaction was fleeting and came before an extended price decline. This cycle likewise saw a strong early reaction from Bitcoin via a downward wick, but there are indications that this reaction might not have lasted long. Thus, to avoid a fate similar to that of 2016, Rekt Capital believes that BTC will need to maintain highs around $60,000 and beyond. Featured image from iStock, chart from Tradingview.com

On-chain data recently showed that Ripple carried out its monthly escrow unlock for May. As expected, this has raised concerns about how it could affect the XRP price, especially since Ripple has been accused of manipulating the token’s price.  Ripple Unlocks 500 Million XRP Tokens Onchain data revealed 500 million XRP tokens were unlocked from Ripple’s escrow on May 1. The crypto firm is known to unlock 1 billion tokens monthly, although it looks to have only unlocked half this time around. The magnitude of these tokens always raises concerns, considering the negative impact they could have on the altcoin’s price if dumped on the market.  Further analysis of the on-chain data shows that Ripple sent 300 million XRP out of the unlocked tokens to an escrowed account (2Not4co2op). Meanwhile, the crypto firm sent the remaining 200 million XRP tokens to another wallet (4vt5x1o91m). Considering that the 200 million XRP tokens weren’t sent to escrow, Ripple may have plans to sell them at some point, although it has yet to do so.  It is also worth mentioning that Ripple received another 500 million XRP tokens from an unknown wallet (ymFZmKxEsF). However, these funds were immediately sent to an escrow account. As such, the community can heave a sigh of relief since most of the XRP tokens Ripple received in the last 24 hours have been sent back to escrow.  Talks About Ripple Dumping On The Market Resurface Following the latest token unlock, the crypto community has reignited talks about Ripple’s alleged dumping on XRP holders. The question of whether or not Ripple’s XRP sales influence the token’s price has been a long-standing discussion, with notable figures like pro-XRP crypto YouTuber Jerry Hall even accusing Ripple of intentionally suppressing the altcoin’s price with its sales.  On the other hand, people like Ripple’s Chief Technology Officer (CTO) have clarified that the crypto firm’s XRP sales do not impact the crypto token’s price. Moreover, Ripple already discontinued programmatic sales, which means that its transactions cannot affect prices on crypto exchanges.  Ripple also noted in its recent court filing in its ongoing legal battle against the Securities and Exchange Commission (SEC) that it had taken measures to ensure its institutional sales did not violate securities laws. This suggests that Ripple conducts its sales over the counter (OTC) to avoid further scrutiny from the Commission.  At the time of writing, the token is trading at around $0.5, up over 2% in the last 24 hours according to data from CoinMarketCap.  Price rises above $0.51 | Source: XRPUSDT on Tradingview.com Featured image from The Motley Fool, chart from Tradingview.com

An analyst explained how Shiba Inu could be heading towards a massive rally based on a bull flag pattern that forms in its daily chart. Shiba Inu Has Been Consolidating Inside A Bull Flag Recently In a new post on X, analyst Ali has discussed about a bull flag that has recently appeared in the daily price of Shiba Inu. The bull flag is a pattern in technical analysis (TA) that, as its name suggests, is shaped like a flag on a pole. The pattern forms when an uptrend is followed by a period of consolidation inside a parallel channel toward the downward direction. The starting uptrend makes up for the pole, while the channel acts as the flag. Related Reading: Bitcoin Greed No More: Sentiment Back At Neutral After $57,000 Plunge Like other TA patterns, the consolidation channel or flag here comprises two parallel lines. The upper level connects the price tops, while the lower one joins the bottoms. When the asset retests either of these levels, it’s probable to undergo a reversal, with the upper line of the channel acting as a point of resistance and the lower one as support. A break above the resistance line is considered a bullish signal for the price. The uptrend resulting from such a break may be the same length as the flag’s pole. On the other hand, a drop below the flag (that is, a breakdown of support) invalidates the formation and may even suggest the takeover of bearish momentum for the asset. Similar to the bull flag, there is also the bear flag in TA, which works much in the same way, except that it occurs during a downtrend (with the flag signifying consolidation towards the upside following a downward pole). Now, here is the chart shared by Ali that shows the bull flag pattern Shiba Inu has potentially been forming on its daily price recently: The formation that the memecoin's price has been displaying during the last few weeks | Source: @ali_charts on X From the graph, it’s clear that the Shiba Inu 1-day price has been consolidating inside what appears to be a bull flag pattern channel in the past few weeks. “I’m placing buy orders around $0.000018343, aiming for a bullish breakout that sends $SHIB to $0.000072323,” says the analyst. The former level is about where SHIB should meet the flag’s support next if it continues in its current trajectory, while the latter target is based on the height of the pole. Related Reading: Bitcoin To $92,190: Crypto Analyst Reveals Path To ATH Target A run to the bullish target of $0.000072323 would imply a rally of more than 244% from the current spot price of the cryptocurrency, while from the lower support of $0.000018343, any such surge would correspond to a growth of over 294%. It remains to be seen whether Shiba Inu will show a break above this bull flag pattern and, if it does, whether the price will benefit from bullish effects. SHIB Price At the time of writing, Shiba Inu is trading around $0.00002110, down more than 18% over the past week. Looks like the price of the coin has been heading down over the last few days | Source: SHIBUSD on TradingView Featured image from Traxer on Unsplash.com, charts from TradingView.com

Dogecoin (DOGE), the Shiba Inu-faced darling of the 2021 memecoin frenzy, has found itself shivering in the current crypto winter. Once a symbol of retail investor exuberance, DOGE has plummeted over 70% from its sky-high peak, leaving its future shrouded in uncertainty. Related Reading: Bitcoin Slide Over? Top Analysts Unanimously Call $56,000 The Bottom DOGE Feels The Crypto Frost While Bitcoin, the heavyweight champion of the crypto world, grabs headlines with its recent wobble, the impact on memecoins like DOGE has been brutal. Unlike Bitcoin’s divided analyst opinions, the sentiment surrounding DOGE is decidedly bearish. At the time of writing, the memecoin was trading at $0.132, down 5.4% up the last 24 hours but sustained a 20% loss in the last seven days, data from Coingecko shows. Dogecoin price action in the last 30 days. Source: Coingecko Is DOGE A Canary In The Crypto Coal Mine? Some analysts believe DOGE’s struggles are a canary in the coal mine for the entire crypto market. They said if even a historically high-flying memecoin like Dogecoin can’t hold onto gains, it raises serious concerns about risk appetite in the crypto space in general. Dogecoin market cap currently at $18 billion. Chart: TradingView.com Whales Accumulating DOGE: A Glimmer Of Hope? However, a glimmer of hope flickers for the dethroned meme king. On-chain data suggests an increase in large wallet purchases of DOGE, hinting at potential accumulation by wealthy investors. This “contrarian” behavior could be a sign that some whales are using Coinglass or similar platforms to track Dogecoin derivatives and believe the coin is undervalued and ripe for a comeback. Source: Coinglass Coinglass, a popular cryptocurrency data provider, offers insights into factors that might be influencing the whales’ decisions. By analyzing metrics like open interest, funding rates, and liquidations on Coinglass, these investors might see an opportunity to buy DOGE at a discount. Related Reading: Solana Crawls: Network Update Fails To Fix Traffic Jam, Price Feels The Pinch In a similar development, Whale Alert, a well-known blockchain tracker, has reported that a DOGE whale arranged two large transactions in a single day. Some 150,000,000 Dogecoins were transferred in the first transaction, and an additional 76,316,694 DOGE were transferred in the second, for a total of almost 226 million DOGE. At the time, the meme cryptocurrency was worth around $40 million in fiat money. 🚨 150,000,000 #DOGE (21,281,922 USD) transferred from #Robinhood to unknown wallethttps://t.co/7U1CEfr2ZT — Whale Alert (@whale_alert) April 29, 2024 Can Dogecoin Thaw The Crypto Winter? The coming weeks will be critical for DOGE. The return of positive social media sentiment, coupled with continued accumulation by whales who might be strategically using Coinglass for market analysis, could be the spark that reignites the DOGE rally. However, if the broader market weakness persists, DOGE’s summer might be spent shivering in the doghouse. Featured image from Pixabay, chart from TradingView

Coinbase won approval to offer cryptocurrency derivative trading to U.S. retail customers, fueling much hope and momentum to the $2.1 trillion cryptocurrency derivative market.  Coinbase’s approval arrived following a significant decline in derivative trading volume due to economic uncertainties, regulatory struggles, and a reduction in risk from high wealth accounts and retail traders.  Derivative trading, such as futures, options, and others, has dominated the cryptocurrency market since 2014 as investors snap at the opportunity to place bets with little investment for a higher percentage return. A large percentage of the derivative market is influenced by retail traders, fueled by manic meme-stock trading and social media trends on platforms such as X, YouTube and Reddit. Although heavily favoured by institutional investors, who have maintained a fair, open position in the derivative market, Bitcoin exchange-traded funds (ETFs) make up a large share of traded assets.  Futures and options trading have had a fair share in the derivative market, but the recent dominance of copy trading is often cited as a key reason for the high volume of the derivative market over the past few months. Copy trading is slowly evolving into a big tool for retail traders looking to explore the derivative market, as many of these traders favour automated trading over spot or manual trading.   The data from Margex highlights much attention shifting to copy trading as a new strategy for retail traders looking to increase their profitability while leveraging an experienced trader to produce great profit returns with a profit share automated for both the user and pro trader.  Copy Trading And Gen Z Influence On The Derivative Market Copy trading involves users replicating the trading strategies of expert traders. This method allows users to diversify their portfolios, minimize risk, and increase their profitability in the financial market while trades are executed automatically and instantly.  The idea of copy trading is to enable users to benefit from the knowledge and skills of well-experienced traders. The users work to enhance their trading outcomes or build better trading or investment skills.  Research has shown that 44% of traders are copy traders, signifying an extreme surge of copy trading solutions in the last few years and is greatly influenced by the social age experiencing exponential growth as web3 technologies evolve.  Social media and Generation Z users (GEN Z) have amplified the popularity of trading strategies like copy trading through investment threads on X, Reddit, and even YouTube channels, with over 500,000 community individuals actively participating in such financial market discussions.  Through social media and online communities, young users have seen a high demand for copy trading as their interest grows through the consumption of financial information. This shows the social aspect significantly influences the adoption of copy trading.  By leveraging on the power of online communities and social aspects of trading, copy trading eliminates the rigorous learning phase of analyzing trades for retailers, simplifies trading processes and improves strategies to remain profitable.  Copy Trading A Community Building Tool  Investors and retail traders have a long history of following the leader or forecaster of the financial market, be it for short-term, medium-term, or long-term portfolio moves. Copy trading has long existed, with many sharing trade ideas or mimicking the trades of experienced traders such as Warren Buffet.  These patterns in the past among retailers are seen in the present generation as many retailers or users follow well-experienced traders to replicate their open positions.  With more retail traders adopting copy trading, it remains a dominant strategy in the derivative market compared to the spot market. Over 91% of futures trading participants are actively involved in copy trading while recording over 92% of profit returns.  According to CCData, the growth of the cryptocurrency derivative market has been influenced by retail traders’ demand for more innovative trading strategies, such as automation tools (copy trading) and AI algorithms, to enhance their trading approach. Many centralized exchanges recorded a new peak of $2.3 trillion in the derivative market.  CCData has shown much adoption in the derivative market as compared with spot trading. A large community of retail traders is approaching copy trading to earn a great profit on their investment. Over the past few years, the copy trading community have earned a profit margin of over 74 million USDT, reflecting increased engagement and the copy-trading method by retailers in the derivative market.  Many crypto trading platforms have adopted copy trading to fill the needs of retail traders looking for improved and robust trading methods to boost profitability. Margex, a copy trading platform, remains at the top of the list of copy trading platforms for these users.  Margex A Next-Gen Copy Trading Platform Margex is a next-gen copy trading platform built to help its users recreate success by mirroring the trades of experienced traders in the crypto industry on its intuitive platform.  Margex’s adaptation to better copy trading strategies that many exchanges lack has been a big boost for many retailers. This will address the high demand of users looking for automated approaches to enhance trading results while diversifying their portfolios to maximize profitability. To demonstrate its seriousness about providing the best services to users, Margex has spent over $3 million to build its copy trading platform with keen attention to usability. It also has a zero-fee converter that enables users to swap tokens easily, and a more ultra-modern wallet will soon be introduced for users to manage assets within a secure platform.  Follow this three simple step guide on participating in the Margex copy trading platform and replicating the trades of more experienced crypto traders.  1 Create An Account With Margex  Creating an account with Margex guarantees you the best copy trading experience as it is out to protect the interest of its copy trading users and provides a diverse range of skillful traders you wish to copy their trades.  2 Select Your Traders  Once logged in, navigate to the copy trading page to explore the copy trading leaderboard to select top-performing traders over time. Evaluate its performance metrics, such as followers, traders’ equity, return on equity (ROE), and strategies that align with your risk appetite and investment plans.   3 Allocate Funds  After choosing a trader to follow and confirming your strategy, allocate some funds to replicate their trades. Margex platform mirrors all trades automatically and in real-time.  As low as $10 is the minimum amount Margex requires to participate in copy trading strategies. 

The recent plummet in Bitcoin’s value below the $60,000 mark has sparked widespread speculation within the crypto community, raising questions among investors and market watchers about the future direction of its price. Marco Johanning, a well-known crypto analyst and founder of The Summit Club, took to X (formerly Twitter) to provide his insights on the current market conditions and what might be expected next. According to Johanning, the recent price action does not signify a market downturn but rather a correction within an ongoing bull market. He emphasizes, “Bitcoin lost the range. What now? First and foremost, a reminder: we are in a bull market, and this is a correction. This is not a rally in a bear market. Or in other words, the high time frame trend is up no matter what.” He supported this assertion with several indicators of a continued bullish trend. First, Bitcoin reached its bear market bottom in November 2022 and subsequently broke above the 200-day moving average, a critical indicator of long-term market trends. Following a drop below the 200-day moving average, there was a significant breakout above this level and THE major high time frame resistance in October 2023. Related Reading: Bitcoin Price Dips Below $57,000: 4 Key Reasons Moreover, Bitcoin achieved a new all-time high in March 2024. Over the last 18 months, Bitcoin has consistently recorded higher highs and higher lows, which are typical characteristics of a bullish market. “This can’t be a bear market,” Johanning explained. “These elements underscore a fundamental bias crucial for assuming that the current drop is part of a broader bull market trend. Therefore, Bitcoin will eventually find a local bottom and ascend higher.” Bitcoin Price Analysis: What To Expect Next? Johanning provided a detailed breakdown of possible future scenarios based on technical analysis. His first scenario is based on the monthly chart where the most crucial level is at $48,000-$49,000. This level is key because it was a major hurdle overcome in February 2024. Now, it might serve as the perfect point for a bullish retest. Furthermore, there’s a significant market imbalance down to the $48,000-$49,000 range, coinciding with the 0.5 Fibonacci retracement level from the last monthly swing low. This setup suggests a strong potential for price stabilization and reversal at this level, according to Johanning. The second scenario grounds on the weekly chart where the important level is at $52,000. This level acts as a major high time frame support/resistance, marked by a weekly imbalance that extends up to $52,000, and it matches the 0.382 Fibonacci retracement from the bottom to the top of the last major rally, and the 0.618 level from the last swing low to the top. The third scenario is based on the lower timeframes. Here, the most significant level is at $57,000. This mark is critical as it represents the 0.5 Fibonacci level from the last swing low and was a key area during the February climb. This level might serve as the stage for a potential deviation or price trap. “The recent bearish engulfing pattern breaking the monthly levels, followed by a bearish retest, signals significant market shifts,” noted Johanning. “If Bitcoin swiftly reclaims these key levels, particularly the $57,000 mark, we could see a deviation scenario unfold. Otherwise, the $52,000 or $48,000-$49,000 levels will likely be tested, each representing a higher low in the ongoing uptrend.” Related Reading: Bitcoin Is Fine As Long As It Holds Above $49,000: Analyst Impact on Altcoins And Market Strategy Altcoins have displayed remarkable resilience in the face of Bitcoin’s volatility, which Johanning finds particularly promising. “Usually, a significant drop in Bitcoin accompanied by a loss of a higher time frame range would lead to severe declines in altcoins. However, their strength yesterday is a good indicator that the worst may be over for altcoins,” he commented. Johanning concluded his analysis with an optimistic outlook for both Bitcoin and altcoins, expressing confidence in the continuation of the bull market. He is actively accumulating more at current prices, anticipating substantial returns: “No matter which scenario plays out, I am committed to this trend until proven otherwise. I’m investing heavily, and if we truly remain in a bull market, the potential for profit is tremendous.” At press time, BTC traded at $58,328. Featured image created with DALL·E, chart from TradingView.com

Bitcoin (BTC) has been battered by a relentless bear market over the past month, with its price tumbling 20% from its record highs. However, amidst the carnage, glimmers of hope emerge as prominent analysts predict a potential bottom forming around the current $57,000 mark. Related Reading: Solana Crawls: Network Update Fails To Fix Traffic Jam, Price Feels The Pinch Tough Opening Month For Bitcoin The start of May has not been kind to Bitcoin. The once-dominant cryptocurrency has seen a steady decline, plunging back to levels last witnessed in March before its monumental surge to $73,700. This recent price drop represents the most significant decline of this cycle, raising concerns about a prolonged bear market. The pain extends beyond Bitcoin, with the broader altcoin market feeling the tremors. Litecoin (LTC), the silver to Bitcoin’s gold, has mirrored the downward trend, shedding a staggering 25% of its value in the past month. While historically seen as a more stable alternative to Bitcoin, Litecoin seems to be tethered to its big brother’s fate in this current downturn. Finding The Bottom: Bullish Predictions Surface Despite the prevailing gloom, a chorus of optimism is rising from the crypto analysis community. Several heavyweight analysts believe Bitcoin may have found its footing around the current price range of $56,000 to $58,000. Rekt Capital, a popular crypto analyst, emphasizes a historical pattern where similar 20% dips have been followed by significant rebounds. Michaël van de Poppe, another well-respected voice, echoes this sentiment, suggesting Bitcoin may be nearing the end of its price consolidation phase. He cautions of potential short-term fluctuations but highlights the $56,000 to $58,000 zone as a crucial support level. #BTC This is officially the deepest retrace in the cycle (-23.6%)$BTC #BitcoinHalving #Bitcoin pic.twitter.com/Gcapbl0Nu6 — Rekt Capital (@rektcapital) May 1, 2024 Uncertainty Looms As Market Awaits Fed Decision While analyst optimism is a welcome sign, a cloud of uncertainty hangs over the crypto market. The upcoming Federal Reserve decision on interest rates could significantly impact investor sentiment and, consequently, Bitcoin’s price trajectory. A more hawkish stance from the Fed could trigger further selling, while a dovish approach might provide the tailwind needed for a Bitcoin rebound. Related Reading: Ethereum Fees Dive: Will This Spark A Surge In Network Activity? Buckle Up For A Bumpy Ride The next few weeks will be crucial for Bitcoin and the broader cryptocurrency market. The Federal Reserve’s decision and investor reaction to the current price slump will likely dictate the short-term direction. While bullish sentiment suggests a potential reversal, the inherent volatility of the crypto market means investors should brace for a bumpy ride. Bitcoin market cap currently at $1.13 trillion. Chart: TradingView.com Featured image from Pixabay, chart from TradingView

The layer-two initiative known as BOB, short for ‘Build on Bitcoin,’ has declared its mainnet operational with over 40 apps launching in the initial phase. Notably, the BOB application that facilitates bridging and access to the ecosystem is geo-blocked in the United States. BOB Mainnet Activates, Project Expects a ‘Bitcoin-Driven Defi Summer’ On May 1, […]

On Thursday, Zksnacks, the developer behind Wasabi Wallet, announced its decision to cease its coinjoin services following regulatory measures in the U.S. The company stated that the wallet will now operate as a standard non-custodial bitcoin wallet without the coinjoin feature. Zksnacks Withdraws Coinjoin Feature from Wasabi Wallet Following intensified regulatory scrutiny in the U.S., […]

Recently, Messari’s founder and CEO, Ryan Selkis, has expressed strong opinions about the potential impact of a Joe Biden reelection on the cryptocurrency industry in the United States. On Thursday, Selkis voiced his concerns on the social media platform X, stating that a “second Biden term will lead to mass wealth confiscation and crypto seizures.” […]

Coinbase, a leading U.S.-based cryptocurrency exchange, has finally announced the implementation of the lightning network, a Bitcoin layer 2 scaling solution. Coinbase will now allow its users to take advantage of this scaling protocol to avoid paying high fees for Bitcoin transactions, enhancing the utility of crypto for customers using Coinbase’s services. Coinbase Adds Lightning […]

PRESS RELEASE. Road Town, British Virgin Islands — May 2, 2024. EYWA, a consensus bridge that secures transactions across multiple protocols, has raised a total of $7 million as it delivers the new era of Web3 interoperability. The investment has been led by Curve Finance founder Michael Egorov — with the project recently attracting two […]

David Marcus, the former president of Paypal and the current CEO of Lightspark, envisions bitcoin as the primary currency for artificial intelligence (AI) in the future. He describes bitcoin as “maximally neutral,” highlighting its advantages over conventional fiat currencies like the euro or the U.S. dollar. Bitcoin Poised to Become Default Currency for AI, Says […]

A new study by Fidelity Digital Assets reveals that as bitcoin matures, its volatility is decreasing, making it less volatile than several S&P 500 stocks. “As the asset class matures and its total market cap grows, the inflow of capital is expected to have a smaller impact because it will be flowing into a larger […]

On May 1, 2024, U.S. spot bitcoin ETFs experienced their most significant single-day outflows since their inception on Jan. 11, 2024. ETF Institute Co-Founder: ‘Inflows Don’t Go up in a Straight Line’ Data sourced from coinglass.com reveals that these funds saw a withdrawal of $563.7 million on Wednesday, with Fidelity’s FBTC experiencing the highest outflow, […]

The Middle East and North Africa (MENA) lead the world in the adoption of blockchain and cryptocurrencies because governments in the region actively promote digital transformation in their strategic future visions, according to Faisal Al Monai, chairman and co-founder of Droppgroup. This commitment by governments in the region “creates a favourable environment for the growth […]

Unknown attackers recently siphoned digital assets valued at just under $1.6 million from the decentralized finance protocol, Pike Finance. The protocol announced it is offering a 20% reward for the return of the funds, while an ongoing investigation into the incident continues. USDC Vulnerability The decentralized finance (defi) protocol, Pike Finance, said on May 1 […]

The blockchain analytics firm will provide tools to spot sanctioned and illicit activity and provide market information.

According to Senators Elizabeth Warren and Angus King, the Iranian government has used funds from crypto mining to fund terrorist organizations.

The Atomicals protocol provides a transparent, secure record of ownership and history for Bitcoin NFTs.

Representatives Mike Flood and Wiley Nickel urged the SEC's chair Gary Gensler to stop discriminating against Bitcoin funds in a letter.

Need to know what happened in crypto today? Here is the latest news on daily trends and events impacting Bitcoin price, blockchain, DeFi, NFTs, Web3 and crypto regulation.

Bitcoin price shows signs of a recovery, but analysts are uncertain whether the strongest part of the correction has passed.

The Telegram-TON hookup opens up a broad spectrum of Web3 opportunities for Telegram’s 900 million monthly users, Pantera Capital said.

Mr. 100, an entity previously identified as Upbit, has bought over $147 million worth of Bitcoin for the first time since the halving, suggesting an end to the current retracement.

A judge in Nigeria reportedly adjourned proceedings in a case against Binance and two executives until May 17 to allow lawyers to review certain documents.

Deep fake nudes to be outlawed in UK and Australia, pick up artists fake big live stream audiences to meet women, plus more news: AI Eye.

Bitcoin bulls see signs of the worst being over as a BTC price bounce gathers pace toward $60,000.

Binance has exchanged a diversified $1 billion crypto portfolio in SAFU funds into USD Coin.

Today, the price of Solana has risen, propelled by a series of positive announcements related to the network and the Fed's decision to forego rate hikes in 2024.

Stronghold announced its first quarter results for 2024 and revealed that it is considering a range of options to increase shareholder value including selling the business.

MoonPay users in the U.S. can now buy and sell 110 different cryptocurrencies using PayPal transfers via wallet, bank transfers or debit cards.

The growing interest in Runes and Bitcoin DeFi will drive more activity to layer-2 networks, according to Stacks’ product manager.

Making the token nontransferable could force users to pay the 1.5% Friend.tech platform fee in an “ironic” shift from the platform’s non-venture capitalist approach.

Shorting Bitcoin on Binance and Coinbase is akin to a high-stakes gamble where mastering margin trading and futures contracts is key to tilting the odds in your favor.

The hacker holds about $4.3 million in various crypto assets in their Ethereum wallet.

The Bitcoin halving is widely expected to have a positive impact on the price of the preeminent cryptocurrency, but analysts expect volatile price consolidation in the short term.

Despite the excitement around the Hong Kong ETF debut, the inflows are only a fraction of the outflows from U.S. ETFs. Could the Bitcoin price revisit the $50,000 mark next?

In a statement, Microsoft said it will collaborate with the Malaysian government to establish a “national AI Center of Excellence” and improve cybersecurity capabilities.

The law enforcement agency managed to track the funds linked to the E-Nugget scam app to different crypto exchanges and, with their help, seized over $10.5 million in crypto assets.

LayerZero’s ZRO perpetual futures contract is trading at $8.6 on Hyperliquid, the world’s largest perps DEX, suggesting a potential $17 billion fully diluted valuation.

BTC price action spooks ETF investors, data shows, but there is reason to believe that Bitcoin is seeing a broadly healthy correction.

Bitfarms is actively working to triple its current hash rate capacity to 21 exahashes per second with a $240 million investment.

The FBI arrested a New York resident for defrauding investors of at least $43 million in a multi-year Ponzi scheme that included a Las Vegas hospitality business and crypto trading operation.

Pike highlighted that the exploit occurred due to their team’s inadequate integration of third-party technologies such as the CCTP or Gelato Network’s automation services.

Patricia came under scrutiny following a hacking incident in May 2023, which led to a significant loss of customer funds.

Arkansas Governor Sarah Huckabee Sanders is expected to sign the bills into law, which will regulate miners’ noise, water use and licensing.

As Bitcoin slumps, on-chain data by Ki Young Ju, the founder of the blockchain analytics platform CryptoQuant, paints a stark picture: all new whales, including holders of spot exchange-traded funds (ETFs), are now underwater.  New Whales And Spot ETF Investors Are In Red Taking to X, Ju said that more losses would be incoming, predicting that HODLers will find “max pain” at around $51,000. The dip is less than $10,000 from spot rates, suggesting that although there are cracks, the correction might not be deep. Related Reading: Whales Dive In, But Dogecoin Price Sinks 20%: What’s Going On? This overview is welcomed, considering the recent sell-off. Even so, predicting price bottoms in a fast-moving market influenced by multiple forces is tough. As price action stands, Ju says believers may take the opportunity to double down on the coin. The founder adds that the current price discount presents an opportunity for savvy investors to outperform traditional finance whales, including institutions with BTC exposure via spot ETFs in the United States.  Bitcoin is under immense liquidation pressure at the time of this writing. Though bulls soaked up the sell-off earlier today, the coin remains within a bearish breakout. Prices are trading below the support zone of between $60,000 and $61,000 and below April 2024. Inflow To Spot Bitcoin ETFs Decline As Sentiment Deteriorate This formation suggests that though bulls are optimistic, the path of least resistance remains southwards for now. BTC dropped after posting impressive returns from October 2023 to March 2024, when prices peaked. Some analysts think the current cool-off is inevitable following sharp gains in the last six months. The fact that whales are underwater was unexpected, considering the state of affairs in the last week of April. Then, the inflow from new whales nearly doubled the cumulative holdings of older whales. Analysts said this influx of fresh capital pointed to growing institutional interest. However, looking at the current price action, new whales are now in the red territory, and their excitement seems to wane.  Related Reading: Bitcoin Bull Run Over? Analyst Predicts What To Expect Now According to Lookonchain data, inflow into the eight-spot Bitcoin ETFs, including BlackRock, has stalled. On May 1, all issuers, including Grayscale via GBTC, decreased by 1,950 BTC. Of note is that BlackRock’s IBIT has not seen inflows for five straight days. Still, confidence abounds. Inflows into spot Bitcoin ETFs are highly influenced by sentiment, which rests on how prices perform. If BTC shakes off the current weakness and tears higher in the expected post-Halving rally, spot ETF issuers will begin receiving new inflows.  Feature image from DALLE, chart from TradingView

The Bitcoin price continues to trend below $60,000 as a 20% decline triggered a brutal market-wide crash. This has exposed multiple critical support points for the cryptocurrency, some of which the price has already fallen below. In light of this, a crypto analyst known as Norok has revealed the level the BTC price must not fall below to maintain its bullish trend. Bitcoin Price Must Hold Above $51,800 In an analysis posted on the TradingView website, crypto analyst Norok revealed that $51,800 is now the most important support level for Bitcoin. Norok pointed out that Bitcoin has since returned to its last support level which was last seen in December 2023, making this a crucial support. In the meantime, the support that had been built up by bulls at the $62,000 level has since been broken by bears and has now been turned into resistance. Nevertheless, the crypto analyst does not believe that the Bitcoin price has turned bearish, despite the crash that has rocked the crypto market. For Norok to turn bearish, he stated that the BTC price would have to break down below support at $51,800. According to him, such a move will invalidate whatever bullish thesis is in play for Bitcoin, ending the bullish trend of 2023-2024. Source: TradingView.com In the short term, Norok identifies $56,900 as a level that bulls must hold. He explains that this could help to reinforce the current bullish trend. “Price must hold here at this Support and then it can recapture the cloud to resume to Bullish Trend,” the crypto analyst said. “This is a highly decisive moment in Price action today.” BTC Suffers As A Result Of ETF Outflows One major driver of the Bitcoin price decline in the last few weeks has been a turn from inflows to outflows in Spot Bitcoin ETFs. Since these ETFs require the issuers to hold BTC to support the assets they are selling to investors, inflows are incredibly bullish as these issuers have taken to buying BTC to fulfill this requirement. However, with investors beginning to withdraw their funds, the reverse has been the case, leading to a high selling pressure in the market. Spot Bitcoin ETFs have now recorded six consecutive trading days of outflows, reaching an all-time high outflow record $563.7 million on Wednesday, according to data from Coinglass. Source: Coinglass If these outflows continue, then the BTC price could continue to decline, and at the current rate, the pioneer cryptocurrency might be testing Norok’s $51,800 soon enough. However, a turn toward inflows would mean issuers have to buy BTC and this can translate to a price recover. BTC price pushes to $59,000 | Source: BTCUSD on Tradingview.com Featured image from Kiplinger, chart from Tradingview.com

An analyst has explained how the “fair value” of Bitcoin appears to be on track to achieve the $1 million milestone by 2035. Bitcoin Total User Count Could Forecast Fair Value Path Forward In a new post on X, analyst Willy Woo has discussed about how the fair value of Bitcoin could look like in the future based on the growth curve in the total user count on the network. Related Reading: Bitcoin Greed No More: Sentiment Back At Neutral After $57,000 Plunge The “total user count” here refers to the total number of investors present in the BTC space. Often, this metric is equated with the total number of addresses on the network carrying a balance, but in reality, it’s not the most accurate method as a lot of investors own multiple wallets. To make an estimation of an adoption curve, Woo has referred to all past studies done on the user count. The analyst shared the below chart in an X post a few days back. The adoption curve of the cryptocurrency over its entire history | Source: @woonomic on X The early part of the chart here is based on Glassnode’s on-chain clustering of addresses into “entities.” An entity is a collection of Bitcoin wallets that Glassnode has determined to belong to the same investor. For the next part of the curve, Woo has added the Cambridge and Crypto.com data on verified exchange users. Finally, the analyst has projected the resulting growth rate forward. According to this curve, there are a total of 426 million Bitcoin investors at the moment, with the number estimated to hit the 0.5 billion milestone by October of this year. Interestingly, the price of the cryptocurrency has been oscillating around this total user count growth curve throughout the years, as the below chart depicts. The adoption curve of the asset compared against its price action | Source: @woonomic on X More specifically, this oscillation in the price around the adoption curve of the cryptocurrency has existed since 2012. This means that in the pre-2012 period (the shaded region in the graph), this pattern doesn’t quite hold. “In the early days price was slow to catch up to user count, BTC didn’t even have a price until the 1000th user came in,” notes Woo. “Price discovery started with early markets like New Liberty Standard and MtGox. By Aug 2011 Bitstamp launched and we had multiple global exchanges to properly price the asset.” Now, if the growth curve of Bitcoin is taken as a guide for its future value as well, then the analyst projects a $1 million per BTC fair value by the year 2035. “Fair value” here is based on the line around which the asset has been oscillating. Related Reading: Crypto Analyst Predicts 244% Shiba Inu Rally Based On Bull Flag From the chart, it’s visible that BTC has historically gained distance over this line during bull markets, so the peak value in future rallies can be significantly more than this fair value. It now remains to be seen how the price of the cryptocurrency will develop in the coming years and whether this relationship between it and the total user count will continue to hold or not. BTC Price Bitcoin has observed a plunge of more than 8% over the past week, which has brought its price down to $58,600. Looks like the price of the coin has registered a sharp drop recently | Source: BTCUSD on TradingView Featured image from iStock.com, chart from TradingView.com

Cryptocurrency analyst Rekt Capital has come up with an intriguing narrative pointing to several trends in the current price action of Bitcoin that are similar to the price trends seen in the 2016 bull cycle, even as market sentiments continue to dwindle.  Bitcoin Trends Reiterating 2016 Pattern According to Rekt Capital, more than a month after the initial analysis, Bitcoin keeps demonstrating how much it closely resembles the cycle of 2016. Similar to 2016, Bitcoin has experienced further declines over the past three weeks following the Halving below the Range Low of its Re-Accumulation Range also known as the Post-Halving Danger Zone The post read: Over a month later Bitcoin continues to prove how it is more similar to the 2016 cycle. Just like in 2016, Bitcoin in this cycle is seeing additional downside below the Range Low of its Re-Accumulation Range in the three-week window after the Halving (i.e. Post-Halving “Danger Zone”). Given that Rekt Capital already addressed the concept of the Post-Halving Danger Zone, the analyst is not shocked by this current price decrease. During the 2016 cycle, about 21 days after the Halving event, BTC saw a lengthy decline of 11% before transitioning toward an upward direction. It is worth noting that Rekt Capital noted that if downside volatility around the Re-Accumulation Range Low is going to happen in this cycle, 2016 history indicates it may happen during the 15 days following the Halving. Since the recent event was concluded about 12 days ago, the expert’s prediction could be realized in the upcoming days. Related Reading: Bitcoin Enters ‘Danger Zone’ Post-Halving, Analyst Warns Of Potential Downside While the Post-Halving “Danger Zone” ends in 15 days, 2016 data suggests that there may be some negative volatility in the interim, possibly reaching the $60600 Range Low. Drawing attention to previous patterns, Rekt Capital highlighted a similar pattern between the 2016 and 2024 pre-Halving re-accumulation range. After a breakout from the re-accumulation range this year, BTC witnessed a Pre-Halving rally, as was observed in 2016. Pre-Halving Retrace Movement Just like in 2016, once the pre-Halving rally peaked, Bitcoin started its Pre-Halving retrace. Specifically, this occurred roughly 28 days prior to the Halving event in both 2016 and 2024. Related Reading: Analyst Warns Of Bitcoin Pre-Halving Retrace Echoing Troubling 2020 Trend A negative wick on the weekly candle indicates a significant reaction in the first week of the pre-Halving Retrace in 2016. However, this reaction was fleeting and came before an extended price decline. This cycle likewise saw a strong early reaction from Bitcoin via a downward wick, but there are indications that this reaction might not have lasted long. Thus, to avoid a fate similar to that of 2016, Rekt Capital believes that BTC will need to maintain highs around $60,000 and beyond. Featured image from iStock, chart from Tradingview.com

On-chain data recently showed that Ripple carried out its monthly escrow unlock for May. As expected, this has raised concerns about how it could affect the XRP price, especially since Ripple has been accused of manipulating the token’s price.  Ripple Unlocks 500 Million XRP Tokens Onchain data revealed 500 million XRP tokens were unlocked from Ripple’s escrow on May 1. The crypto firm is known to unlock 1 billion tokens monthly, although it looks to have only unlocked half this time around. The magnitude of these tokens always raises concerns, considering the negative impact they could have on the altcoin’s price if dumped on the market.  Further analysis of the on-chain data shows that Ripple sent 300 million XRP out of the unlocked tokens to an escrowed account (2Not4co2op). Meanwhile, the crypto firm sent the remaining 200 million XRP tokens to another wallet (4vt5x1o91m). Considering that the 200 million XRP tokens weren’t sent to escrow, Ripple may have plans to sell them at some point, although it has yet to do so.  It is also worth mentioning that Ripple received another 500 million XRP tokens from an unknown wallet (ymFZmKxEsF). However, these funds were immediately sent to an escrow account. As such, the community can heave a sigh of relief since most of the XRP tokens Ripple received in the last 24 hours have been sent back to escrow.  Talks About Ripple Dumping On The Market Resurface Following the latest token unlock, the crypto community has reignited talks about Ripple’s alleged dumping on XRP holders. The question of whether or not Ripple’s XRP sales influence the token’s price has been a long-standing discussion, with notable figures like pro-XRP crypto YouTuber Jerry Hall even accusing Ripple of intentionally suppressing the altcoin’s price with its sales.  On the other hand, people like Ripple’s Chief Technology Officer (CTO) have clarified that the crypto firm’s XRP sales do not impact the crypto token’s price. Moreover, Ripple already discontinued programmatic sales, which means that its transactions cannot affect prices on crypto exchanges.  Ripple also noted in its recent court filing in its ongoing legal battle against the Securities and Exchange Commission (SEC) that it had taken measures to ensure its institutional sales did not violate securities laws. This suggests that Ripple conducts its sales over the counter (OTC) to avoid further scrutiny from the Commission.  At the time of writing, the token is trading at around $0.5, up over 2% in the last 24 hours according to data from CoinMarketCap.  Price rises above $0.51 | Source: XRPUSDT on Tradingview.com Featured image from The Motley Fool, chart from Tradingview.com

An analyst explained how Shiba Inu could be heading towards a massive rally based on a bull flag pattern that forms in its daily chart. Shiba Inu Has Been Consolidating Inside A Bull Flag Recently In a new post on X, analyst Ali has discussed about a bull flag that has recently appeared in the daily price of Shiba Inu. The bull flag is a pattern in technical analysis (TA) that, as its name suggests, is shaped like a flag on a pole. The pattern forms when an uptrend is followed by a period of consolidation inside a parallel channel toward the downward direction. The starting uptrend makes up for the pole, while the channel acts as the flag. Related Reading: Bitcoin Greed No More: Sentiment Back At Neutral After $57,000 Plunge Like other TA patterns, the consolidation channel or flag here comprises two parallel lines. The upper level connects the price tops, while the lower one joins the bottoms. When the asset retests either of these levels, it’s probable to undergo a reversal, with the upper line of the channel acting as a point of resistance and the lower one as support. A break above the resistance line is considered a bullish signal for the price. The uptrend resulting from such a break may be the same length as the flag’s pole. On the other hand, a drop below the flag (that is, a breakdown of support) invalidates the formation and may even suggest the takeover of bearish momentum for the asset. Similar to the bull flag, there is also the bear flag in TA, which works much in the same way, except that it occurs during a downtrend (with the flag signifying consolidation towards the upside following a downward pole). Now, here is the chart shared by Ali that shows the bull flag pattern Shiba Inu has potentially been forming on its daily price recently: The formation that the memecoin's price has been displaying during the last few weeks | Source: @ali_charts on X From the graph, it’s clear that the Shiba Inu 1-day price has been consolidating inside what appears to be a bull flag pattern channel in the past few weeks. “I’m placing buy orders around $0.000018343, aiming for a bullish breakout that sends $SHIB to $0.000072323,” says the analyst. The former level is about where SHIB should meet the flag’s support next if it continues in its current trajectory, while the latter target is based on the height of the pole. Related Reading: Bitcoin To $92,190: Crypto Analyst Reveals Path To ATH Target A run to the bullish target of $0.000072323 would imply a rally of more than 244% from the current spot price of the cryptocurrency, while from the lower support of $0.000018343, any such surge would correspond to a growth of over 294%. It remains to be seen whether Shiba Inu will show a break above this bull flag pattern and, if it does, whether the price will benefit from bullish effects. SHIB Price At the time of writing, Shiba Inu is trading around $0.00002110, down more than 18% over the past week. Looks like the price of the coin has been heading down over the last few days | Source: SHIBUSD on TradingView Featured image from Traxer on Unsplash.com, charts from TradingView.com

Dogecoin (DOGE), the Shiba Inu-faced darling of the 2021 memecoin frenzy, has found itself shivering in the current crypto winter. Once a symbol of retail investor exuberance, DOGE has plummeted over 70% from its sky-high peak, leaving its future shrouded in uncertainty. Related Reading: Bitcoin Slide Over? Top Analysts Unanimously Call $56,000 The Bottom DOGE Feels The Crypto Frost While Bitcoin, the heavyweight champion of the crypto world, grabs headlines with its recent wobble, the impact on memecoins like DOGE has been brutal. Unlike Bitcoin’s divided analyst opinions, the sentiment surrounding DOGE is decidedly bearish. At the time of writing, the memecoin was trading at $0.132, down 5.4% up the last 24 hours but sustained a 20% loss in the last seven days, data from Coingecko shows. Dogecoin price action in the last 30 days. Source: Coingecko Is DOGE A Canary In The Crypto Coal Mine? Some analysts believe DOGE’s struggles are a canary in the coal mine for the entire crypto market. They said if even a historically high-flying memecoin like Dogecoin can’t hold onto gains, it raises serious concerns about risk appetite in the crypto space in general. Dogecoin market cap currently at $18 billion. Chart: TradingView.com Whales Accumulating DOGE: A Glimmer Of Hope? However, a glimmer of hope flickers for the dethroned meme king. On-chain data suggests an increase in large wallet purchases of DOGE, hinting at potential accumulation by wealthy investors. This “contrarian” behavior could be a sign that some whales are using Coinglass or similar platforms to track Dogecoin derivatives and believe the coin is undervalued and ripe for a comeback. Source: Coinglass Coinglass, a popular cryptocurrency data provider, offers insights into factors that might be influencing the whales’ decisions. By analyzing metrics like open interest, funding rates, and liquidations on Coinglass, these investors might see an opportunity to buy DOGE at a discount. Related Reading: Solana Crawls: Network Update Fails To Fix Traffic Jam, Price Feels The Pinch In a similar development, Whale Alert, a well-known blockchain tracker, has reported that a DOGE whale arranged two large transactions in a single day. Some 150,000,000 Dogecoins were transferred in the first transaction, and an additional 76,316,694 DOGE were transferred in the second, for a total of almost 226 million DOGE. At the time, the meme cryptocurrency was worth around $40 million in fiat money. 🚨 150,000,000 #DOGE (21,281,922 USD) transferred from #Robinhood to unknown wallethttps://t.co/7U1CEfr2ZT — Whale Alert (@whale_alert) April 29, 2024 Can Dogecoin Thaw The Crypto Winter? The coming weeks will be critical for DOGE. The return of positive social media sentiment, coupled with continued accumulation by whales who might be strategically using Coinglass for market analysis, could be the spark that reignites the DOGE rally. However, if the broader market weakness persists, DOGE’s summer might be spent shivering in the doghouse. Featured image from Pixabay, chart from TradingView

Coinbase won approval to offer cryptocurrency derivative trading to U.S. retail customers, fueling much hope and momentum to the $2.1 trillion cryptocurrency derivative market.  Coinbase’s approval arrived following a significant decline in derivative trading volume due to economic uncertainties, regulatory struggles, and a reduction in risk from high wealth accounts and retail traders.  Derivative trading, such as futures, options, and others, has dominated the cryptocurrency market since 2014 as investors snap at the opportunity to place bets with little investment for a higher percentage return. A large percentage of the derivative market is influenced by retail traders, fueled by manic meme-stock trading and social media trends on platforms such as X, YouTube and Reddit. Although heavily favoured by institutional investors, who have maintained a fair, open position in the derivative market, Bitcoin exchange-traded funds (ETFs) make up a large share of traded assets.  Futures and options trading have had a fair share in the derivative market, but the recent dominance of copy trading is often cited as a key reason for the high volume of the derivative market over the past few months. Copy trading is slowly evolving into a big tool for retail traders looking to explore the derivative market, as many of these traders favour automated trading over spot or manual trading.   The data from Margex highlights much attention shifting to copy trading as a new strategy for retail traders looking to increase their profitability while leveraging an experienced trader to produce great profit returns with a profit share automated for both the user and pro trader.  Copy Trading And Gen Z Influence On The Derivative Market Copy trading involves users replicating the trading strategies of expert traders. This method allows users to diversify their portfolios, minimize risk, and increase their profitability in the financial market while trades are executed automatically and instantly.  The idea of copy trading is to enable users to benefit from the knowledge and skills of well-experienced traders. The users work to enhance their trading outcomes or build better trading or investment skills.  Research has shown that 44% of traders are copy traders, signifying an extreme surge of copy trading solutions in the last few years and is greatly influenced by the social age experiencing exponential growth as web3 technologies evolve.  Social media and Generation Z users (GEN Z) have amplified the popularity of trading strategies like copy trading through investment threads on X, Reddit, and even YouTube channels, with over 500,000 community individuals actively participating in such financial market discussions.  Through social media and online communities, young users have seen a high demand for copy trading as their interest grows through the consumption of financial information. This shows the social aspect significantly influences the adoption of copy trading.  By leveraging on the power of online communities and social aspects of trading, copy trading eliminates the rigorous learning phase of analyzing trades for retailers, simplifies trading processes and improves strategies to remain profitable.  Copy Trading A Community Building Tool  Investors and retail traders have a long history of following the leader or forecaster of the financial market, be it for short-term, medium-term, or long-term portfolio moves. Copy trading has long existed, with many sharing trade ideas or mimicking the trades of experienced traders such as Warren Buffet.  These patterns in the past among retailers are seen in the present generation as many retailers or users follow well-experienced traders to replicate their open positions.  With more retail traders adopting copy trading, it remains a dominant strategy in the derivative market compared to the spot market. Over 91% of futures trading participants are actively involved in copy trading while recording over 92% of profit returns.  According to CCData, the growth of the cryptocurrency derivative market has been influenced by retail traders’ demand for more innovative trading strategies, such as automation tools (copy trading) and AI algorithms, to enhance their trading approach. Many centralized exchanges recorded a new peak of $2.3 trillion in the derivative market.  CCData has shown much adoption in the derivative market as compared with spot trading. A large community of retail traders is approaching copy trading to earn a great profit on their investment. Over the past few years, the copy trading community have earned a profit margin of over 74 million USDT, reflecting increased engagement and the copy-trading method by retailers in the derivative market.  Many crypto trading platforms have adopted copy trading to fill the needs of retail traders looking for improved and robust trading methods to boost profitability. Margex, a copy trading platform, remains at the top of the list of copy trading platforms for these users.  Margex A Next-Gen Copy Trading Platform Margex is a next-gen copy trading platform built to help its users recreate success by mirroring the trades of experienced traders in the crypto industry on its intuitive platform.  Margex’s adaptation to better copy trading strategies that many exchanges lack has been a big boost for many retailers. This will address the high demand of users looking for automated approaches to enhance trading results while diversifying their portfolios to maximize profitability. To demonstrate its seriousness about providing the best services to users, Margex has spent over $3 million to build its copy trading platform with keen attention to usability. It also has a zero-fee converter that enables users to swap tokens easily, and a more ultra-modern wallet will soon be introduced for users to manage assets within a secure platform.  Follow this three simple step guide on participating in the Margex copy trading platform and replicating the trades of more experienced crypto traders.  1 Create An Account With Margex  Creating an account with Margex guarantees you the best copy trading experience as it is out to protect the interest of its copy trading users and provides a diverse range of skillful traders you wish to copy their trades.  2 Select Your Traders  Once logged in, navigate to the copy trading page to explore the copy trading leaderboard to select top-performing traders over time. Evaluate its performance metrics, such as followers, traders’ equity, return on equity (ROE), and strategies that align with your risk appetite and investment plans.   3 Allocate Funds  After choosing a trader to follow and confirming your strategy, allocate some funds to replicate their trades. Margex platform mirrors all trades automatically and in real-time.  As low as $10 is the minimum amount Margex requires to participate in copy trading strategies. 

The recent plummet in Bitcoin’s value below the $60,000 mark has sparked widespread speculation within the crypto community, raising questions among investors and market watchers about the future direction of its price. Marco Johanning, a well-known crypto analyst and founder of The Summit Club, took to X (formerly Twitter) to provide his insights on the current market conditions and what might be expected next. According to Johanning, the recent price action does not signify a market downturn but rather a correction within an ongoing bull market. He emphasizes, “Bitcoin lost the range. What now? First and foremost, a reminder: we are in a bull market, and this is a correction. This is not a rally in a bear market. Or in other words, the high time frame trend is up no matter what.” He supported this assertion with several indicators of a continued bullish trend. First, Bitcoin reached its bear market bottom in November 2022 and subsequently broke above the 200-day moving average, a critical indicator of long-term market trends. Following a drop below the 200-day moving average, there was a significant breakout above this level and THE major high time frame resistance in October 2023. Related Reading: Bitcoin Price Dips Below $57,000: 4 Key Reasons Moreover, Bitcoin achieved a new all-time high in March 2024. Over the last 18 months, Bitcoin has consistently recorded higher highs and higher lows, which are typical characteristics of a bullish market. “This can’t be a bear market,” Johanning explained. “These elements underscore a fundamental bias crucial for assuming that the current drop is part of a broader bull market trend. Therefore, Bitcoin will eventually find a local bottom and ascend higher.” Bitcoin Price Analysis: What To Expect Next? Johanning provided a detailed breakdown of possible future scenarios based on technical analysis. His first scenario is based on the monthly chart where the most crucial level is at $48,000-$49,000. This level is key because it was a major hurdle overcome in February 2024. Now, it might serve as the perfect point for a bullish retest. Furthermore, there’s a significant market imbalance down to the $48,000-$49,000 range, coinciding with the 0.5 Fibonacci retracement level from the last monthly swing low. This setup suggests a strong potential for price stabilization and reversal at this level, according to Johanning. The second scenario grounds on the weekly chart where the important level is at $52,000. This level acts as a major high time frame support/resistance, marked by a weekly imbalance that extends up to $52,000, and it matches the 0.382 Fibonacci retracement from the bottom to the top of the last major rally, and the 0.618 level from the last swing low to the top. The third scenario is based on the lower timeframes. Here, the most significant level is at $57,000. This mark is critical as it represents the 0.5 Fibonacci level from the last swing low and was a key area during the February climb. This level might serve as the stage for a potential deviation or price trap. “The recent bearish engulfing pattern breaking the monthly levels, followed by a bearish retest, signals significant market shifts,” noted Johanning. “If Bitcoin swiftly reclaims these key levels, particularly the $57,000 mark, we could see a deviation scenario unfold. Otherwise, the $52,000 or $48,000-$49,000 levels will likely be tested, each representing a higher low in the ongoing uptrend.” Related Reading: Bitcoin Is Fine As Long As It Holds Above $49,000: Analyst Impact on Altcoins And Market Strategy Altcoins have displayed remarkable resilience in the face of Bitcoin’s volatility, which Johanning finds particularly promising. “Usually, a significant drop in Bitcoin accompanied by a loss of a higher time frame range would lead to severe declines in altcoins. However, their strength yesterday is a good indicator that the worst may be over for altcoins,” he commented. Johanning concluded his analysis with an optimistic outlook for both Bitcoin and altcoins, expressing confidence in the continuation of the bull market. He is actively accumulating more at current prices, anticipating substantial returns: “No matter which scenario plays out, I am committed to this trend until proven otherwise. I’m investing heavily, and if we truly remain in a bull market, the potential for profit is tremendous.” At press time, BTC traded at $58,328. Featured image created with DALL·E, chart from TradingView.com

Bitcoin (BTC) has been battered by a relentless bear market over the past month, with its price tumbling 20% from its record highs. However, amidst the carnage, glimmers of hope emerge as prominent analysts predict a potential bottom forming around the current $57,000 mark. Related Reading: Solana Crawls: Network Update Fails To Fix Traffic Jam, Price Feels The Pinch Tough Opening Month For Bitcoin The start of May has not been kind to Bitcoin. The once-dominant cryptocurrency has seen a steady decline, plunging back to levels last witnessed in March before its monumental surge to $73,700. This recent price drop represents the most significant decline of this cycle, raising concerns about a prolonged bear market. The pain extends beyond Bitcoin, with the broader altcoin market feeling the tremors. Litecoin (LTC), the silver to Bitcoin’s gold, has mirrored the downward trend, shedding a staggering 25% of its value in the past month. While historically seen as a more stable alternative to Bitcoin, Litecoin seems to be tethered to its big brother’s fate in this current downturn. Finding The Bottom: Bullish Predictions Surface Despite the prevailing gloom, a chorus of optimism is rising from the crypto analysis community. Several heavyweight analysts believe Bitcoin may have found its footing around the current price range of $56,000 to $58,000. Rekt Capital, a popular crypto analyst, emphasizes a historical pattern where similar 20% dips have been followed by significant rebounds. Michaël van de Poppe, another well-respected voice, echoes this sentiment, suggesting Bitcoin may be nearing the end of its price consolidation phase. He cautions of potential short-term fluctuations but highlights the $56,000 to $58,000 zone as a crucial support level. #BTC This is officially the deepest retrace in the cycle (-23.6%)$BTC #BitcoinHalving #Bitcoin pic.twitter.com/Gcapbl0Nu6 — Rekt Capital (@rektcapital) May 1, 2024 Uncertainty Looms As Market Awaits Fed Decision While analyst optimism is a welcome sign, a cloud of uncertainty hangs over the crypto market. The upcoming Federal Reserve decision on interest rates could significantly impact investor sentiment and, consequently, Bitcoin’s price trajectory. A more hawkish stance from the Fed could trigger further selling, while a dovish approach might provide the tailwind needed for a Bitcoin rebound. Related Reading: Ethereum Fees Dive: Will This Spark A Surge In Network Activity? Buckle Up For A Bumpy Ride The next few weeks will be crucial for Bitcoin and the broader cryptocurrency market. The Federal Reserve’s decision and investor reaction to the current price slump will likely dictate the short-term direction. While bullish sentiment suggests a potential reversal, the inherent volatility of the crypto market means investors should brace for a bumpy ride. Bitcoin market cap currently at $1.13 trillion. Chart: TradingView.com Featured image from Pixabay, chart from TradingView

The layer-two initiative known as BOB, short for ‘Build on Bitcoin,’ has declared its mainnet operational with over 40 apps launching in the initial phase. Notably, the BOB application that facilitates bridging and access to the ecosystem is geo-blocked in the United States. BOB Mainnet Activates, Project Expects a ‘Bitcoin-Driven Defi Summer’ On May 1, […]

On Thursday, Zksnacks, the developer behind Wasabi Wallet, announced its decision to cease its coinjoin services following regulatory measures in the U.S. The company stated that the wallet will now operate as a standard non-custodial bitcoin wallet without the coinjoin feature. Zksnacks Withdraws Coinjoin Feature from Wasabi Wallet Following intensified regulatory scrutiny in the U.S., […]

Recently, Messari’s founder and CEO, Ryan Selkis, has expressed strong opinions about the potential impact of a Joe Biden reelection on the cryptocurrency industry in the United States. On Thursday, Selkis voiced his concerns on the social media platform X, stating that a “second Biden term will lead to mass wealth confiscation and crypto seizures.” […]

Coinbase, a leading U.S.-based cryptocurrency exchange, has finally announced the implementation of the lightning network, a Bitcoin layer 2 scaling solution. Coinbase will now allow its users to take advantage of this scaling protocol to avoid paying high fees for Bitcoin transactions, enhancing the utility of crypto for customers using Coinbase’s services. Coinbase Adds Lightning […]

PRESS RELEASE. Road Town, British Virgin Islands — May 2, 2024. EYWA, a consensus bridge that secures transactions across multiple protocols, has raised a total of $7 million as it delivers the new era of Web3 interoperability. The investment has been led by Curve Finance founder Michael Egorov — with the project recently attracting two […]

David Marcus, the former president of Paypal and the current CEO of Lightspark, envisions bitcoin as the primary currency for artificial intelligence (AI) in the future. He describes bitcoin as “maximally neutral,” highlighting its advantages over conventional fiat currencies like the euro or the U.S. dollar. Bitcoin Poised to Become Default Currency for AI, Says […]

A new study by Fidelity Digital Assets reveals that as bitcoin matures, its volatility is decreasing, making it less volatile than several S&P 500 stocks. “As the asset class matures and its total market cap grows, the inflow of capital is expected to have a smaller impact because it will be flowing into a larger […]

On May 1, 2024, U.S. spot bitcoin ETFs experienced their most significant single-day outflows since their inception on Jan. 11, 2024. ETF Institute Co-Founder: ‘Inflows Don’t Go up in a Straight Line’ Data sourced from coinglass.com reveals that these funds saw a withdrawal of $563.7 million on Wednesday, with Fidelity’s FBTC experiencing the highest outflow, […]

The Middle East and North Africa (MENA) lead the world in the adoption of blockchain and cryptocurrencies because governments in the region actively promote digital transformation in their strategic future visions, according to Faisal Al Monai, chairman and co-founder of Droppgroup. This commitment by governments in the region “creates a favourable environment for the growth […]

Unknown attackers recently siphoned digital assets valued at just under $1.6 million from the decentralized finance protocol, Pike Finance. The protocol announced it is offering a 20% reward for the return of the funds, while an ongoing investigation into the incident continues. USDC Vulnerability The decentralized finance (defi) protocol, Pike Finance, said on May 1 […]

As a crypto analyst and frequent investor in the Greek digital currency market, I can confidently recommend Bcash for convenient and secure Bitcoin purchasing in Athens. With 10 strategically located crypto ATM hotspots spanning central Athens and the northern suburbs, Bcash enables instant access to leading cryptocurrencies like BTC, ETH, and USDT. Experience the Leading […]

The post Top 5 Bitcoin ATM Locations in Athens for Fast and Easy Crypto Access appeared first on CryptoNinjas.

Bitwise Asset Management, the largest crypto index fund manager in America, announced today that the Bitwise Bitcoin ETF (BITB), the firm’s first spot bitcoin ETF, intends to begin trading today, January 11th. BITB will join Bitwise’s comprehensive suite of 18 crypto investment products, which currently includes five other crypto ETFs. “We expect significant demand for […]

The post Bitwise launching spot bitcoin ETF (BITB) appeared first on CryptoNinjas.

It is no longer unusual to hear that a bank accepts savings in Bitcoin, Ethereum, and the like. Or that a loan company helps businesses with crypto. After all, the traditional financial and insurance industries were among the first to adopt cryptocurrencies. The latter ones have found more than one way to incorporate these means of payment […]

The post Cryptocurrency Payments for Insurance: Are Insurance Companies Really Embracing Bitcoin and Altcoins? appeared first on CryptoNinjas.

For some people, the word bitcoin still triggers an eye-roll, but by now, most of us know that cryptocurrency is here to stay. With that in mind, it’s a good idea to make sure you’re clued up and well-educated on the topic, especially if you’ve ever considered investing yourself. However, with so much misinformation floating […]

The post 4 Things We’ve Learned About Owning Bitcoin in 2023 appeared first on CryptoNinjas.

Today, Fuse Network, an enterprise-grade, use-case agnostic, decentralized EVM-compatible public blockchain, announced Liquify as its newest remote procedure call (RPC) provider and ecosystem partner. Liquify will provide public RPC services – both free and private. RPC nodes help process requests from decentralized applications (dApps). They are vital for improving the usability of web3 and for […]

The post Fuse Network welcomes Liquify as new blockchain infrastructure partner appeared first on CryptoNinjas.

Welcome to the world of BITmarkets – a leading cryptocurrency exchange offering a wide range of trading options for both retail traders and corporate clients. In this comprehensive review, we will explore the various features and services provided by BITmarkets, including spot, futures, and margin trading. Whether a seasoned trader or just starting your cryptocurrency […]

The post BITmarkets – Spot, Futures, Margin Trading with 150+ Cryptocurrencies appeared first on CryptoNinjas.

HashKey Exchange, the first licensed retail virtual asset exchange registered in Hong Kong, announced its official launch today. Together with executives from the HKSAR government, top-tier banks, insurers, and Big 4 auditing firms, HashKey held the grand launch in Hong Kong. Strictly adhering to the SFC’s user registration and KYC requirements, the HashKey Exchange platform […]

The post Hong Kong’s first licensed crypto exchange HashKey is now live appeared first on CryptoNinjas.

Adenasoft, a South Korea-based IT/software company, has just announced the launch of ACE, their new SaaS product designed for cryptocurrency exchanges. ACE fully prepares businesses for exchange operations quickly, taking less than a month to get up and running. ACE offers a comprehensive suite of features that enables crypto exchanges to streamline their operations and […]

The post Adenasoft launches new crypto exchange white label solution: ACE appeared first on CryptoNinjas.

This week, the team of Pods, a provider of structured products for crypto assets, unveiled its latest offering – the ETHphoria Vault. This innovative yield strategy is designed explicitly for ETH enthusiasts who are bullish about its future prospects and want to earn even more from increasing prices. ETHphoria is a low-risk, principal-protected strategy designed […]

The post Maximize Your ETH Investment: The ETHphoria Vault by Pods appeared first on CryptoNinjas.

The team of Pods recently announced the mainnet launch of its 3rd strategy on Pods Yield: FUD Vault, which now complements ETHphoria and stETHvv. FUD Vault provides a way for users to benefit from market downturns by offering a mechanism to hedge against significant price drops in ETH while preserving the deposited principal. Who is […]

The post Crypto traders can mitigate risk with PODS’ FUD Vault – now live on mainnet appeared first on CryptoNinjas.

DeFi Returns brings comprehensive up-to-date information on DeFi strategies and protocols, to easily compare and analyze their performance. Getting the most reliable data source for historical yield on DeFi, to help users make informed decisions when investing in the ecosystem. All data displayed is sourced from the protocol’s smart contracts directly. The new DeFi Returns […]

The post What is DeFi Returns? A new way of DeFi Investing appeared first on CryptoNinjas.

RockX, an Asia-based institutional-grade staking services provider, announced today the broadening of its staking product suite with the addition of a new ether (ETH) native staking solution. This latest offering strengthens RockX’s position as a comprehensive provider of diverse staking needs, maneuvering quickly to the evolving crypto market landscape. Navigating the Ethereum ecosystem presents institutions with […]

The post RockX broadens suite with launch of new ether (ETH) native staking solution appeared first on CryptoNinjas.

Hex Trust, a regulated institutional-grade crypto-asset custodian, today announced it has partnered with The Sandbox, a leading decentralized gaming virtual world to enable fully-licensed and highly-secure custody of assets such as LAND in The Sandbox’s metaverse. The partnership sees Hex Trust fully integrate LAND into its custody platform, Hex Safe, which supports cryptocurrencies, security tokens, and NFTs. […]

The post The Sandbox teams with Hex Trust for licensed, secure custody of its virtual assets appeared first on CryptoNinjas.

CoinFlip, a bitcoin ATM and crypto services company, announced today a new offering with the launch of ‘Olliv,’ a self-custody-powered crypto platform. The Olliv platform provides a frictionless way to buy, sell, send, receive, and swap cryptocurrency securely stored on a self-custodial wallet, removing the uncertainty of unknown third-party custodians. By leveraging CoinFlip’s existing network […]

The post CoinFlip launches new self-custodial cryptocurrency wallet platform ‘Olliv’ appeared first on CryptoNinjas.

Deribit, a popular cryptocurrency derivatives platform, has announced the launch of zero-fee spot trading, allowing clients to buy and sell crypto while simultaneously managing risk using other derivatives. Spot trading will start on April, 24th 2023 at 1 PM UTC with three pairs (BTC/USDC, ETH/USDC, and ETH/BTC), providing clients with a simple and free solution […]

The post Crypto derivatives exchange Deribit to launch zero-fee spot trading appeared first on CryptoNinjas.

Japan-based banking giant Nomura, announced today that its digital assets subsidiary, Laser Digital, has made a strategic investment in Infinity, a non-custodial interest rate protocol built on Ethereum. Infinity’s wholesale exchange, the first of several planned infrastructures, provides inter-exchange clearing, fixed and floating rate markets, as well as enterprise-grade risk management utilizing hybrid on-chain/off-chain infrastructures […]

The post Nomura’s Laser Digital invests in Infinity, an Ethereum-based money market protocol appeared first on CryptoNinjas.

Blocknative, a real-time Ethereum (ETH) infrastructure platform, has newly introduced features including transaction bundle send, cancellation, and replacement support for the Blocknative Builder. Searchers can now submit MEV bundles privately to the Blocknative Builder to be included on-chain. This market utility builds upon Blocknative’s reliable, real-time infrastructure that is systematically important to the Ethereum ecosystem. […]

The post ETH infrastructure platform Blocknative adds TX bundles, cancellation, and replacement support appeared first on CryptoNinjas.

Eventus, a provider of multi-asset class trade surveillance and market risk solutions, announced today that cryptocurrency derivatives exchange Deribit has chosen the firm’s Validus platform to provide market abuse monitoring on the exchange. Headquartered in Panama City, Panama, Deribit is one of the largest cryptocurrency options exchanges by volume and open interest, with approximately 90% […]

The post Crypto derivatives exchange Deribit to put in place trade surveillance platform from Eventus appeared first on CryptoNinjas.

Gemini, the popular bitcoin & crypto exchange company, today announced the launch of electronic over-the-counter trading (eOTC), an automated crypto trading solution designed for institutions. The Gemini eOTC solution offers a variety of advantages to institutional traders including: Competitive Pricing & Execution: Liquidity is sourced from top-tier liquidity providers with deep liquidity pools, enabling counterparties […]

The post Crypto exchange Gemini launches new electronic OTC trading solution appeared first on CryptoNinjas.

GenTwo Digital, the crypto-asset securitization platform based out of Crypto Valley in Zug, Switzerland, today announced a partnership with Coinbase, the publicly-listed cryptocurrency platform. This new partnership for GenTwo Digital allows all Coinbase crypto assets to be wrapped in bankable financial investment products and enables financial intermediaries to issue certificates such AMCs (Actively Management Certificates). […]

The post Crypto securitization platform GenTwo links to all Coinbase assets appeared first on CryptoNinjas.

ThunderCore, a leading blockchain & web3 ecosystem announced today that they are making a new development push, partnering with new validators as the chain rolls out its new crypto staking model. The newest ThunderCore validators include the famous crypto-asset exchange Huobi and one of the earliest staking platforms in the space, MyCointainer. Users of both […]

The post Blockchain ecosystem ThunderCore teams with Huobi and MyCointainer in node expansion appeared first on CryptoNinjas.

Pods, creators of a DeFi platform, announced today that earlier this year, the team raised $5.6M in seed funding to create structured products for crypto-assets. The financing featured investors such as IOSG, Tomahawk, Republic, Framework Ventures, and more. The first strategy on Pods Yield is stETHvv (Ethereum Volatility Vault). stETHvv is a low-risk product focused […]

The post DeFi protocol Pods raises $5.6M to support its structured crypto products dApp appeared first on CryptoNinjas.

Deribit, the popular cryptocurrency derivatives exchange, announced today it has launched a new ‘Proof of Reserves‘ tool for clients using the trading platform. Now, clients are provided with the functionality to verify their assets to be included in Deribit’s overall reserves. How it Works Deribit provides all addresses for all on-chain assets and it delivers […]

The post Crypto derivatives exchange Deribit releases new client verification of assets tool appeared first on CryptoNinjas.

Tenderly, creators of a blockchain development platform, today announced that it is the first web3 development platform to offer simulations through RPC on its Tenderly Web3 Gateway, the company’s production node as a service. Note, Tenderly already processes more than 50 million simulations per month through its Transaction Simulator. Now, the company is introducing the […]

The post Tenderly introduces TXN simulations on its blockchain gateway for efficient dApp development appeared first on CryptoNinjas.

DFINITY Foundation, the not-for-profit organization contributing to the development of the Internet Computer (IC) — a high-speed, internet-scale public blockchain — has announced today the Internet Computer’s mainnet integration with Bitcoin, bringing smart contract functionality to the cryptocurrency. Now, the Internet Computer can serve as a layer-2 for Bitcoin where smart contracts on the Internet […]

The post DFINITY brings new smart contract functionality to Bitcoin with Internet Computer integration appeared first on CryptoNinjas.

The blockchain analytics firm will provide tools to spot sanctioned and illicit activity and provide market information.

According to Senators Elizabeth Warren and Angus King, the Iranian government has used funds from crypto mining to fund terrorist organizations.

The Atomicals protocol provides a transparent, secure record of ownership and history for Bitcoin NFTs.

Representatives Mike Flood and Wiley Nickel urged the SEC's chair Gary Gensler to stop discriminating against Bitcoin funds in a letter.

Need to know what happened in crypto today? Here is the latest news on daily trends and events impacting Bitcoin price, blockchain, DeFi, NFTs, Web3 and crypto regulation.

Bitcoin price shows signs of a recovery, but analysts are uncertain whether the strongest part of the correction has passed.

The Telegram-TON hookup opens up a broad spectrum of Web3 opportunities for Telegram’s 900 million monthly users, Pantera Capital said.

Mr. 100, an entity previously identified as Upbit, has bought over $147 million worth of Bitcoin for the first time since the halving, suggesting an end to the current retracement.

A judge in Nigeria reportedly adjourned proceedings in a case against Binance and two executives until May 17 to allow lawyers to review certain documents.

Deep fake nudes to be outlawed in UK and Australia, pick up artists fake big live stream audiences to meet women, plus more news: AI Eye.

Bitcoin bulls see signs of the worst being over as a BTC price bounce gathers pace toward $60,000.

Binance has exchanged a diversified $1 billion crypto portfolio in SAFU funds into USD Coin.

Today, the price of Solana has risen, propelled by a series of positive announcements related to the network and the Fed's decision to forego rate hikes in 2024.

Stronghold announced its first quarter results for 2024 and revealed that it is considering a range of options to increase shareholder value including selling the business.

MoonPay users in the U.S. can now buy and sell 110 different cryptocurrencies using PayPal transfers via wallet, bank transfers or debit cards.

The growing interest in Runes and Bitcoin DeFi will drive more activity to layer-2 networks, according to Stacks’ product manager.

Making the token nontransferable could force users to pay the 1.5% Friend.tech platform fee in an “ironic” shift from the platform’s non-venture capitalist approach.

Shorting Bitcoin on Binance and Coinbase is akin to a high-stakes gamble where mastering margin trading and futures contracts is key to tilting the odds in your favor.

The hacker holds about $4.3 million in various crypto assets in their Ethereum wallet.

The Bitcoin halving is widely expected to have a positive impact on the price of the preeminent cryptocurrency, but analysts expect volatile price consolidation in the short term.

Despite the excitement around the Hong Kong ETF debut, the inflows are only a fraction of the outflows from U.S. ETFs. Could the Bitcoin price revisit the $50,000 mark next?

In a statement, Microsoft said it will collaborate with the Malaysian government to establish a “national AI Center of Excellence” and improve cybersecurity capabilities.

The law enforcement agency managed to track the funds linked to the E-Nugget scam app to different crypto exchanges and, with their help, seized over $10.5 million in crypto assets.

LayerZero’s ZRO perpetual futures contract is trading at $8.6 on Hyperliquid, the world’s largest perps DEX, suggesting a potential $17 billion fully diluted valuation.

BTC price action spooks ETF investors, data shows, but there is reason to believe that Bitcoin is seeing a broadly healthy correction.

Bitfarms is actively working to triple its current hash rate capacity to 21 exahashes per second with a $240 million investment.

The FBI arrested a New York resident for defrauding investors of at least $43 million in a multi-year Ponzi scheme that included a Las Vegas hospitality business and crypto trading operation.

Pike highlighted that the exploit occurred due to their team’s inadequate integration of third-party technologies such as the CCTP or Gelato Network’s automation services.

Patricia came under scrutiny following a hacking incident in May 2023, which led to a significant loss of customer funds.

Arkansas Governor Sarah Huckabee Sanders is expected to sign the bills into law, which will regulate miners’ noise, water use and licensing.

As Bitcoin slumps, on-chain data by Ki Young Ju, the founder of the blockchain analytics platform CryptoQuant, paints a stark picture: all new whales, including holders of spot exchange-traded funds (ETFs), are now underwater.  New Whales And Spot ETF Investors Are In Red Taking to X, Ju said that more losses would be incoming, predicting that HODLers will find “max pain” at around $51,000. The dip is less than $10,000 from spot rates, suggesting that although there are cracks, the correction might not be deep. Related Reading: Whales Dive In, But Dogecoin Price Sinks 20%: What’s Going On? This overview is welcomed, considering the recent sell-off. Even so, predicting price bottoms in a fast-moving market influenced by multiple forces is tough. As price action stands, Ju says believers may take the opportunity to double down on the coin. The founder adds that the current price discount presents an opportunity for savvy investors to outperform traditional finance whales, including institutions with BTC exposure via spot ETFs in the United States.  Bitcoin is under immense liquidation pressure at the time of this writing. Though bulls soaked up the sell-off earlier today, the coin remains within a bearish breakout. Prices are trading below the support zone of between $60,000 and $61,000 and below April 2024. Inflow To Spot Bitcoin ETFs Decline As Sentiment Deteriorate This formation suggests that though bulls are optimistic, the path of least resistance remains southwards for now. BTC dropped after posting impressive returns from October 2023 to March 2024, when prices peaked. Some analysts think the current cool-off is inevitable following sharp gains in the last six months. The fact that whales are underwater was unexpected, considering the state of affairs in the last week of April. Then, the inflow from new whales nearly doubled the cumulative holdings of older whales. Analysts said this influx of fresh capital pointed to growing institutional interest. However, looking at the current price action, new whales are now in the red territory, and their excitement seems to wane.  Related Reading: Bitcoin Bull Run Over? Analyst Predicts What To Expect Now According to Lookonchain data, inflow into the eight-spot Bitcoin ETFs, including BlackRock, has stalled. On May 1, all issuers, including Grayscale via GBTC, decreased by 1,950 BTC. Of note is that BlackRock’s IBIT has not seen inflows for five straight days. Still, confidence abounds. Inflows into spot Bitcoin ETFs are highly influenced by sentiment, which rests on how prices perform. If BTC shakes off the current weakness and tears higher in the expected post-Halving rally, spot ETF issuers will begin receiving new inflows.  Feature image from DALLE, chart from TradingView

The Bitcoin price continues to trend below $60,000 as a 20% decline triggered a brutal market-wide crash. This has exposed multiple critical support points for the cryptocurrency, some of which the price has already fallen below. In light of this, a crypto analyst known as Norok has revealed the level the BTC price must not fall below to maintain its bullish trend. Bitcoin Price Must Hold Above $51,800 In an analysis posted on the TradingView website, crypto analyst Norok revealed that $51,800 is now the most important support level for Bitcoin. Norok pointed out that Bitcoin has since returned to its last support level which was last seen in December 2023, making this a crucial support. In the meantime, the support that had been built up by bulls at the $62,000 level has since been broken by bears and has now been turned into resistance. Nevertheless, the crypto analyst does not believe that the Bitcoin price has turned bearish, despite the crash that has rocked the crypto market. For Norok to turn bearish, he stated that the BTC price would have to break down below support at $51,800. According to him, such a move will invalidate whatever bullish thesis is in play for Bitcoin, ending the bullish trend of 2023-2024. Source: TradingView.com In the short term, Norok identifies $56,900 as a level that bulls must hold. He explains that this could help to reinforce the current bullish trend. “Price must hold here at this Support and then it can recapture the cloud to resume to Bullish Trend,” the crypto analyst said. “This is a highly decisive moment in Price action today.” BTC Suffers As A Result Of ETF Outflows One major driver of the Bitcoin price decline in the last few weeks has been a turn from inflows to outflows in Spot Bitcoin ETFs. Since these ETFs require the issuers to hold BTC to support the assets they are selling to investors, inflows are incredibly bullish as these issuers have taken to buying BTC to fulfill this requirement. However, with investors beginning to withdraw their funds, the reverse has been the case, leading to a high selling pressure in the market. Spot Bitcoin ETFs have now recorded six consecutive trading days of outflows, reaching an all-time high outflow record $563.7 million on Wednesday, according to data from Coinglass. Source: Coinglass If these outflows continue, then the BTC price could continue to decline, and at the current rate, the pioneer cryptocurrency might be testing Norok’s $51,800 soon enough. However, a turn toward inflows would mean issuers have to buy BTC and this can translate to a price recover. BTC price pushes to $59,000 | Source: BTCUSD on Tradingview.com Featured image from Kiplinger, chart from Tradingview.com

An analyst has explained how the “fair value” of Bitcoin appears to be on track to achieve the $1 million milestone by 2035. Bitcoin Total User Count Could Forecast Fair Value Path Forward In a new post on X, analyst Willy Woo has discussed about how the fair value of Bitcoin could look like in the future based on the growth curve in the total user count on the network. Related Reading: Bitcoin Greed No More: Sentiment Back At Neutral After $57,000 Plunge The “total user count” here refers to the total number of investors present in the BTC space. Often, this metric is equated with the total number of addresses on the network carrying a balance, but in reality, it’s not the most accurate method as a lot of investors own multiple wallets. To make an estimation of an adoption curve, Woo has referred to all past studies done on the user count. The analyst shared the below chart in an X post a few days back. The adoption curve of the cryptocurrency over its entire history | Source: @woonomic on X The early part of the chart here is based on Glassnode’s on-chain clustering of addresses into “entities.” An entity is a collection of Bitcoin wallets that Glassnode has determined to belong to the same investor. For the next part of the curve, Woo has added the Cambridge and Crypto.com data on verified exchange users. Finally, the analyst has projected the resulting growth rate forward. According to this curve, there are a total of 426 million Bitcoin investors at the moment, with the number estimated to hit the 0.5 billion milestone by October of this year. Interestingly, the price of the cryptocurrency has been oscillating around this total user count growth curve throughout the years, as the below chart depicts. The adoption curve of the asset compared against its price action | Source: @woonomic on X More specifically, this oscillation in the price around the adoption curve of the cryptocurrency has existed since 2012. This means that in the pre-2012 period (the shaded region in the graph), this pattern doesn’t quite hold. “In the early days price was slow to catch up to user count, BTC didn’t even have a price until the 1000th user came in,” notes Woo. “Price discovery started with early markets like New Liberty Standard and MtGox. By Aug 2011 Bitstamp launched and we had multiple global exchanges to properly price the asset.” Now, if the growth curve of Bitcoin is taken as a guide for its future value as well, then the analyst projects a $1 million per BTC fair value by the year 2035. “Fair value” here is based on the line around which the asset has been oscillating. Related Reading: Crypto Analyst Predicts 244% Shiba Inu Rally Based On Bull Flag From the chart, it’s visible that BTC has historically gained distance over this line during bull markets, so the peak value in future rallies can be significantly more than this fair value. It now remains to be seen how the price of the cryptocurrency will develop in the coming years and whether this relationship between it and the total user count will continue to hold or not. BTC Price Bitcoin has observed a plunge of more than 8% over the past week, which has brought its price down to $58,600. Looks like the price of the coin has registered a sharp drop recently | Source: BTCUSD on TradingView Featured image from iStock.com, chart from TradingView.com

Cryptocurrency analyst Rekt Capital has come up with an intriguing narrative pointing to several trends in the current price action of Bitcoin that are similar to the price trends seen in the 2016 bull cycle, even as market sentiments continue to dwindle.  Bitcoin Trends Reiterating 2016 Pattern According to Rekt Capital, more than a month after the initial analysis, Bitcoin keeps demonstrating how much it closely resembles the cycle of 2016. Similar to 2016, Bitcoin has experienced further declines over the past three weeks following the Halving below the Range Low of its Re-Accumulation Range also known as the Post-Halving Danger Zone The post read: Over a month later Bitcoin continues to prove how it is more similar to the 2016 cycle. Just like in 2016, Bitcoin in this cycle is seeing additional downside below the Range Low of its Re-Accumulation Range in the three-week window after the Halving (i.e. Post-Halving “Danger Zone”). Given that Rekt Capital already addressed the concept of the Post-Halving Danger Zone, the analyst is not shocked by this current price decrease. During the 2016 cycle, about 21 days after the Halving event, BTC saw a lengthy decline of 11% before transitioning toward an upward direction. It is worth noting that Rekt Capital noted that if downside volatility around the Re-Accumulation Range Low is going to happen in this cycle, 2016 history indicates it may happen during the 15 days following the Halving. Since the recent event was concluded about 12 days ago, the expert’s prediction could be realized in the upcoming days. Related Reading: Bitcoin Enters ‘Danger Zone’ Post-Halving, Analyst Warns Of Potential Downside While the Post-Halving “Danger Zone” ends in 15 days, 2016 data suggests that there may be some negative volatility in the interim, possibly reaching the $60600 Range Low. Drawing attention to previous patterns, Rekt Capital highlighted a similar pattern between the 2016 and 2024 pre-Halving re-accumulation range. After a breakout from the re-accumulation range this year, BTC witnessed a Pre-Halving rally, as was observed in 2016. Pre-Halving Retrace Movement Just like in 2016, once the pre-Halving rally peaked, Bitcoin started its Pre-Halving retrace. Specifically, this occurred roughly 28 days prior to the Halving event in both 2016 and 2024. Related Reading: Analyst Warns Of Bitcoin Pre-Halving Retrace Echoing Troubling 2020 Trend A negative wick on the weekly candle indicates a significant reaction in the first week of the pre-Halving Retrace in 2016. However, this reaction was fleeting and came before an extended price decline. This cycle likewise saw a strong early reaction from Bitcoin via a downward wick, but there are indications that this reaction might not have lasted long. Thus, to avoid a fate similar to that of 2016, Rekt Capital believes that BTC will need to maintain highs around $60,000 and beyond. Featured image from iStock, chart from Tradingview.com

On-chain data recently showed that Ripple carried out its monthly escrow unlock for May. As expected, this has raised concerns about how it could affect the XRP price, especially since Ripple has been accused of manipulating the token’s price.  Ripple Unlocks 500 Million XRP Tokens Onchain data revealed 500 million XRP tokens were unlocked from Ripple’s escrow on May 1. The crypto firm is known to unlock 1 billion tokens monthly, although it looks to have only unlocked half this time around. The magnitude of these tokens always raises concerns, considering the negative impact they could have on the altcoin’s price if dumped on the market.  Further analysis of the on-chain data shows that Ripple sent 300 million XRP out of the unlocked tokens to an escrowed account (2Not4co2op). Meanwhile, the crypto firm sent the remaining 200 million XRP tokens to another wallet (4vt5x1o91m). Considering that the 200 million XRP tokens weren’t sent to escrow, Ripple may have plans to sell them at some point, although it has yet to do so.  It is also worth mentioning that Ripple received another 500 million XRP tokens from an unknown wallet (ymFZmKxEsF). However, these funds were immediately sent to an escrow account. As such, the community can heave a sigh of relief since most of the XRP tokens Ripple received in the last 24 hours have been sent back to escrow.  Talks About Ripple Dumping On The Market Resurface Following the latest token unlock, the crypto community has reignited talks about Ripple’s alleged dumping on XRP holders. The question of whether or not Ripple’s XRP sales influence the token’s price has been a long-standing discussion, with notable figures like pro-XRP crypto YouTuber Jerry Hall even accusing Ripple of intentionally suppressing the altcoin’s price with its sales.  On the other hand, people like Ripple’s Chief Technology Officer (CTO) have clarified that the crypto firm’s XRP sales do not impact the crypto token’s price. Moreover, Ripple already discontinued programmatic sales, which means that its transactions cannot affect prices on crypto exchanges.  Ripple also noted in its recent court filing in its ongoing legal battle against the Securities and Exchange Commission (SEC) that it had taken measures to ensure its institutional sales did not violate securities laws. This suggests that Ripple conducts its sales over the counter (OTC) to avoid further scrutiny from the Commission.  At the time of writing, the token is trading at around $0.5, up over 2% in the last 24 hours according to data from CoinMarketCap.  Price rises above $0.51 | Source: XRPUSDT on Tradingview.com Featured image from The Motley Fool, chart from Tradingview.com

An analyst explained how Shiba Inu could be heading towards a massive rally based on a bull flag pattern that forms in its daily chart. Shiba Inu Has Been Consolidating Inside A Bull Flag Recently In a new post on X, analyst Ali has discussed about a bull flag that has recently appeared in the daily price of Shiba Inu. The bull flag is a pattern in technical analysis (TA) that, as its name suggests, is shaped like a flag on a pole. The pattern forms when an uptrend is followed by a period of consolidation inside a parallel channel toward the downward direction. The starting uptrend makes up for the pole, while the channel acts as the flag. Related Reading: Bitcoin Greed No More: Sentiment Back At Neutral After $57,000 Plunge Like other TA patterns, the consolidation channel or flag here comprises two parallel lines. The upper level connects the price tops, while the lower one joins the bottoms. When the asset retests either of these levels, it’s probable to undergo a reversal, with the upper line of the channel acting as a point of resistance and the lower one as support. A break above the resistance line is considered a bullish signal for the price. The uptrend resulting from such a break may be the same length as the flag’s pole. On the other hand, a drop below the flag (that is, a breakdown of support) invalidates the formation and may even suggest the takeover of bearish momentum for the asset. Similar to the bull flag, there is also the bear flag in TA, which works much in the same way, except that it occurs during a downtrend (with the flag signifying consolidation towards the upside following a downward pole). Now, here is the chart shared by Ali that shows the bull flag pattern Shiba Inu has potentially been forming on its daily price recently: The formation that the memecoin's price has been displaying during the last few weeks | Source: @ali_charts on X From the graph, it’s clear that the Shiba Inu 1-day price has been consolidating inside what appears to be a bull flag pattern channel in the past few weeks. “I’m placing buy orders around $0.000018343, aiming for a bullish breakout that sends $SHIB to $0.000072323,” says the analyst. The former level is about where SHIB should meet the flag’s support next if it continues in its current trajectory, while the latter target is based on the height of the pole. Related Reading: Bitcoin To $92,190: Crypto Analyst Reveals Path To ATH Target A run to the bullish target of $0.000072323 would imply a rally of more than 244% from the current spot price of the cryptocurrency, while from the lower support of $0.000018343, any such surge would correspond to a growth of over 294%. It remains to be seen whether Shiba Inu will show a break above this bull flag pattern and, if it does, whether the price will benefit from bullish effects. SHIB Price At the time of writing, Shiba Inu is trading around $0.00002110, down more than 18% over the past week. Looks like the price of the coin has been heading down over the last few days | Source: SHIBUSD on TradingView Featured image from Traxer on Unsplash.com, charts from TradingView.com

Dogecoin (DOGE), the Shiba Inu-faced darling of the 2021 memecoin frenzy, has found itself shivering in the current crypto winter. Once a symbol of retail investor exuberance, DOGE has plummeted over 70% from its sky-high peak, leaving its future shrouded in uncertainty. Related Reading: Bitcoin Slide Over? Top Analysts Unanimously Call $56,000 The Bottom DOGE Feels The Crypto Frost While Bitcoin, the heavyweight champion of the crypto world, grabs headlines with its recent wobble, the impact on memecoins like DOGE has been brutal. Unlike Bitcoin’s divided analyst opinions, the sentiment surrounding DOGE is decidedly bearish. At the time of writing, the memecoin was trading at $0.132, down 5.4% up the last 24 hours but sustained a 20% loss in the last seven days, data from Coingecko shows. Dogecoin price action in the last 30 days. Source: Coingecko Is DOGE A Canary In The Crypto Coal Mine? Some analysts believe DOGE’s struggles are a canary in the coal mine for the entire crypto market. They said if even a historically high-flying memecoin like Dogecoin can’t hold onto gains, it raises serious concerns about risk appetite in the crypto space in general. Dogecoin market cap currently at $18 billion. Chart: TradingView.com Whales Accumulating DOGE: A Glimmer Of Hope? However, a glimmer of hope flickers for the dethroned meme king. On-chain data suggests an increase in large wallet purchases of DOGE, hinting at potential accumulation by wealthy investors. This “contrarian” behavior could be a sign that some whales are using Coinglass or similar platforms to track Dogecoin derivatives and believe the coin is undervalued and ripe for a comeback. Source: Coinglass Coinglass, a popular cryptocurrency data provider, offers insights into factors that might be influencing the whales’ decisions. By analyzing metrics like open interest, funding rates, and liquidations on Coinglass, these investors might see an opportunity to buy DOGE at a discount. Related Reading: Solana Crawls: Network Update Fails To Fix Traffic Jam, Price Feels The Pinch In a similar development, Whale Alert, a well-known blockchain tracker, has reported that a DOGE whale arranged two large transactions in a single day. Some 150,000,000 Dogecoins were transferred in the first transaction, and an additional 76,316,694 DOGE were transferred in the second, for a total of almost 226 million DOGE. At the time, the meme cryptocurrency was worth around $40 million in fiat money. 🚨 150,000,000 #DOGE (21,281,922 USD) transferred from #Robinhood to unknown wallethttps://t.co/7U1CEfr2ZT — Whale Alert (@whale_alert) April 29, 2024 Can Dogecoin Thaw The Crypto Winter? The coming weeks will be critical for DOGE. The return of positive social media sentiment, coupled with continued accumulation by whales who might be strategically using Coinglass for market analysis, could be the spark that reignites the DOGE rally. However, if the broader market weakness persists, DOGE’s summer might be spent shivering in the doghouse. Featured image from Pixabay, chart from TradingView

Coinbase won approval to offer cryptocurrency derivative trading to U.S. retail customers, fueling much hope and momentum to the $2.1 trillion cryptocurrency derivative market.  Coinbase’s approval arrived following a significant decline in derivative trading volume due to economic uncertainties, regulatory struggles, and a reduction in risk from high wealth accounts and retail traders.  Derivative trading, such as futures, options, and others, has dominated the cryptocurrency market since 2014 as investors snap at the opportunity to place bets with little investment for a higher percentage return. A large percentage of the derivative market is influenced by retail traders, fueled by manic meme-stock trading and social media trends on platforms such as X, YouTube and Reddit. Although heavily favoured by institutional investors, who have maintained a fair, open position in the derivative market, Bitcoin exchange-traded funds (ETFs) make up a large share of traded assets.  Futures and options trading have had a fair share in the derivative market, but the recent dominance of copy trading is often cited as a key reason for the high volume of the derivative market over the past few months. Copy trading is slowly evolving into a big tool for retail traders looking to explore the derivative market, as many of these traders favour automated trading over spot or manual trading.   The data from Margex highlights much attention shifting to copy trading as a new strategy for retail traders looking to increase their profitability while leveraging an experienced trader to produce great profit returns with a profit share automated for both the user and pro trader.  Copy Trading And Gen Z Influence On The Derivative Market Copy trading involves users replicating the trading strategies of expert traders. This method allows users to diversify their portfolios, minimize risk, and increase their profitability in the financial market while trades are executed automatically and instantly.  The idea of copy trading is to enable users to benefit from the knowledge and skills of well-experienced traders. The users work to enhance their trading outcomes or build better trading or investment skills.  Research has shown that 44% of traders are copy traders, signifying an extreme surge of copy trading solutions in the last few years and is greatly influenced by the social age experiencing exponential growth as web3 technologies evolve.  Social media and Generation Z users (GEN Z) have amplified the popularity of trading strategies like copy trading through investment threads on X, Reddit, and even YouTube channels, with over 500,000 community individuals actively participating in such financial market discussions.  Through social media and online communities, young users have seen a high demand for copy trading as their interest grows through the consumption of financial information. This shows the social aspect significantly influences the adoption of copy trading.  By leveraging on the power of online communities and social aspects of trading, copy trading eliminates the rigorous learning phase of analyzing trades for retailers, simplifies trading processes and improves strategies to remain profitable.  Copy Trading A Community Building Tool  Investors and retail traders have a long history of following the leader or forecaster of the financial market, be it for short-term, medium-term, or long-term portfolio moves. Copy trading has long existed, with many sharing trade ideas or mimicking the trades of experienced traders such as Warren Buffet.  These patterns in the past among retailers are seen in the present generation as many retailers or users follow well-experienced traders to replicate their open positions.  With more retail traders adopting copy trading, it remains a dominant strategy in the derivative market compared to the spot market. Over 91% of futures trading participants are actively involved in copy trading while recording over 92% of profit returns.  According to CCData, the growth of the cryptocurrency derivative market has been influenced by retail traders’ demand for more innovative trading strategies, such as automation tools (copy trading) and AI algorithms, to enhance their trading approach. Many centralized exchanges recorded a new peak of $2.3 trillion in the derivative market.  CCData has shown much adoption in the derivative market as compared with spot trading. A large community of retail traders is approaching copy trading to earn a great profit on their investment. Over the past few years, the copy trading community have earned a profit margin of over 74 million USDT, reflecting increased engagement and the copy-trading method by retailers in the derivative market.  Many crypto trading platforms have adopted copy trading to fill the needs of retail traders looking for improved and robust trading methods to boost profitability. Margex, a copy trading platform, remains at the top of the list of copy trading platforms for these users.  Margex A Next-Gen Copy Trading Platform Margex is a next-gen copy trading platform built to help its users recreate success by mirroring the trades of experienced traders in the crypto industry on its intuitive platform.  Margex’s adaptation to better copy trading strategies that many exchanges lack has been a big boost for many retailers. This will address the high demand of users looking for automated approaches to enhance trading results while diversifying their portfolios to maximize profitability. To demonstrate its seriousness about providing the best services to users, Margex has spent over $3 million to build its copy trading platform with keen attention to usability. It also has a zero-fee converter that enables users to swap tokens easily, and a more ultra-modern wallet will soon be introduced for users to manage assets within a secure platform.  Follow this three simple step guide on participating in the Margex copy trading platform and replicating the trades of more experienced crypto traders.  1 Create An Account With Margex  Creating an account with Margex guarantees you the best copy trading experience as it is out to protect the interest of its copy trading users and provides a diverse range of skillful traders you wish to copy their trades.  2 Select Your Traders  Once logged in, navigate to the copy trading page to explore the copy trading leaderboard to select top-performing traders over time. Evaluate its performance metrics, such as followers, traders’ equity, return on equity (ROE), and strategies that align with your risk appetite and investment plans.   3 Allocate Funds  After choosing a trader to follow and confirming your strategy, allocate some funds to replicate their trades. Margex platform mirrors all trades automatically and in real-time.  As low as $10 is the minimum amount Margex requires to participate in copy trading strategies. 

The recent plummet in Bitcoin’s value below the $60,000 mark has sparked widespread speculation within the crypto community, raising questions among investors and market watchers about the future direction of its price. Marco Johanning, a well-known crypto analyst and founder of The Summit Club, took to X (formerly Twitter) to provide his insights on the current market conditions and what might be expected next. According to Johanning, the recent price action does not signify a market downturn but rather a correction within an ongoing bull market. He emphasizes, “Bitcoin lost the range. What now? First and foremost, a reminder: we are in a bull market, and this is a correction. This is not a rally in a bear market. Or in other words, the high time frame trend is up no matter what.” He supported this assertion with several indicators of a continued bullish trend. First, Bitcoin reached its bear market bottom in November 2022 and subsequently broke above the 200-day moving average, a critical indicator of long-term market trends. Following a drop below the 200-day moving average, there was a significant breakout above this level and THE major high time frame resistance in October 2023. Related Reading: Bitcoin Price Dips Below $57,000: 4 Key Reasons Moreover, Bitcoin achieved a new all-time high in March 2024. Over the last 18 months, Bitcoin has consistently recorded higher highs and higher lows, which are typical characteristics of a bullish market. “This can’t be a bear market,” Johanning explained. “These elements underscore a fundamental bias crucial for assuming that the current drop is part of a broader bull market trend. Therefore, Bitcoin will eventually find a local bottom and ascend higher.” Bitcoin Price Analysis: What To Expect Next? Johanning provided a detailed breakdown of possible future scenarios based on technical analysis. His first scenario is based on the monthly chart where the most crucial level is at $48,000-$49,000. This level is key because it was a major hurdle overcome in February 2024. Now, it might serve as the perfect point for a bullish retest. Furthermore, there’s a significant market imbalance down to the $48,000-$49,000 range, coinciding with the 0.5 Fibonacci retracement level from the last monthly swing low. This setup suggests a strong potential for price stabilization and reversal at this level, according to Johanning. The second scenario grounds on the weekly chart where the important level is at $52,000. This level acts as a major high time frame support/resistance, marked by a weekly imbalance that extends up to $52,000, and it matches the 0.382 Fibonacci retracement from the bottom to the top of the last major rally, and the 0.618 level from the last swing low to the top. The third scenario is based on the lower timeframes. Here, the most significant level is at $57,000. This mark is critical as it represents the 0.5 Fibonacci level from the last swing low and was a key area during the February climb. This level might serve as the stage for a potential deviation or price trap. “The recent bearish engulfing pattern breaking the monthly levels, followed by a bearish retest, signals significant market shifts,” noted Johanning. “If Bitcoin swiftly reclaims these key levels, particularly the $57,000 mark, we could see a deviation scenario unfold. Otherwise, the $52,000 or $48,000-$49,000 levels will likely be tested, each representing a higher low in the ongoing uptrend.” Related Reading: Bitcoin Is Fine As Long As It Holds Above $49,000: Analyst Impact on Altcoins And Market Strategy Altcoins have displayed remarkable resilience in the face of Bitcoin’s volatility, which Johanning finds particularly promising. “Usually, a significant drop in Bitcoin accompanied by a loss of a higher time frame range would lead to severe declines in altcoins. However, their strength yesterday is a good indicator that the worst may be over for altcoins,” he commented. Johanning concluded his analysis with an optimistic outlook for both Bitcoin and altcoins, expressing confidence in the continuation of the bull market. He is actively accumulating more at current prices, anticipating substantial returns: “No matter which scenario plays out, I am committed to this trend until proven otherwise. I’m investing heavily, and if we truly remain in a bull market, the potential for profit is tremendous.” At press time, BTC traded at $58,328. Featured image created with DALL·E, chart from TradingView.com

Bitcoin (BTC) has been battered by a relentless bear market over the past month, with its price tumbling 20% from its record highs. However, amidst the carnage, glimmers of hope emerge as prominent analysts predict a potential bottom forming around the current $57,000 mark. Related Reading: Solana Crawls: Network Update Fails To Fix Traffic Jam, Price Feels The Pinch Tough Opening Month For Bitcoin The start of May has not been kind to Bitcoin. The once-dominant cryptocurrency has seen a steady decline, plunging back to levels last witnessed in March before its monumental surge to $73,700. This recent price drop represents the most significant decline of this cycle, raising concerns about a prolonged bear market. The pain extends beyond Bitcoin, with the broader altcoin market feeling the tremors. Litecoin (LTC), the silver to Bitcoin’s gold, has mirrored the downward trend, shedding a staggering 25% of its value in the past month. While historically seen as a more stable alternative to Bitcoin, Litecoin seems to be tethered to its big brother’s fate in this current downturn. Finding The Bottom: Bullish Predictions Surface Despite the prevailing gloom, a chorus of optimism is rising from the crypto analysis community. Several heavyweight analysts believe Bitcoin may have found its footing around the current price range of $56,000 to $58,000. Rekt Capital, a popular crypto analyst, emphasizes a historical pattern where similar 20% dips have been followed by significant rebounds. Michaël van de Poppe, another well-respected voice, echoes this sentiment, suggesting Bitcoin may be nearing the end of its price consolidation phase. He cautions of potential short-term fluctuations but highlights the $56,000 to $58,000 zone as a crucial support level. #BTC This is officially the deepest retrace in the cycle (-23.6%)$BTC #BitcoinHalving #Bitcoin pic.twitter.com/Gcapbl0Nu6 — Rekt Capital (@rektcapital) May 1, 2024 Uncertainty Looms As Market Awaits Fed Decision While analyst optimism is a welcome sign, a cloud of uncertainty hangs over the crypto market. The upcoming Federal Reserve decision on interest rates could significantly impact investor sentiment and, consequently, Bitcoin’s price trajectory. A more hawkish stance from the Fed could trigger further selling, while a dovish approach might provide the tailwind needed for a Bitcoin rebound. Related Reading: Ethereum Fees Dive: Will This Spark A Surge In Network Activity? Buckle Up For A Bumpy Ride The next few weeks will be crucial for Bitcoin and the broader cryptocurrency market. The Federal Reserve’s decision and investor reaction to the current price slump will likely dictate the short-term direction. While bullish sentiment suggests a potential reversal, the inherent volatility of the crypto market means investors should brace for a bumpy ride. Bitcoin market cap currently at $1.13 trillion. Chart: TradingView.com Featured image from Pixabay, chart from TradingView

The layer-two initiative known as BOB, short for ‘Build on Bitcoin,’ has declared its mainnet operational with over 40 apps launching in the initial phase. Notably, the BOB application that facilitates bridging and access to the ecosystem is geo-blocked in the United States. BOB Mainnet Activates, Project Expects a ‘Bitcoin-Driven Defi Summer’ On May 1, […]

On Thursday, Zksnacks, the developer behind Wasabi Wallet, announced its decision to cease its coinjoin services following regulatory measures in the U.S. The company stated that the wallet will now operate as a standard non-custodial bitcoin wallet without the coinjoin feature. Zksnacks Withdraws Coinjoin Feature from Wasabi Wallet Following intensified regulatory scrutiny in the U.S., […]

Recently, Messari’s founder and CEO, Ryan Selkis, has expressed strong opinions about the potential impact of a Joe Biden reelection on the cryptocurrency industry in the United States. On Thursday, Selkis voiced his concerns on the social media platform X, stating that a “second Biden term will lead to mass wealth confiscation and crypto seizures.” […]

Coinbase, a leading U.S.-based cryptocurrency exchange, has finally announced the implementation of the lightning network, a Bitcoin layer 2 scaling solution. Coinbase will now allow its users to take advantage of this scaling protocol to avoid paying high fees for Bitcoin transactions, enhancing the utility of crypto for customers using Coinbase’s services. Coinbase Adds Lightning […]

PRESS RELEASE. Road Town, British Virgin Islands — May 2, 2024. EYWA, a consensus bridge that secures transactions across multiple protocols, has raised a total of $7 million as it delivers the new era of Web3 interoperability. The investment has been led by Curve Finance founder Michael Egorov — with the project recently attracting two […]

David Marcus, the former president of Paypal and the current CEO of Lightspark, envisions bitcoin as the primary currency for artificial intelligence (AI) in the future. He describes bitcoin as “maximally neutral,” highlighting its advantages over conventional fiat currencies like the euro or the U.S. dollar. Bitcoin Poised to Become Default Currency for AI, Says […]

A new study by Fidelity Digital Assets reveals that as bitcoin matures, its volatility is decreasing, making it less volatile than several S&P 500 stocks. “As the asset class matures and its total market cap grows, the inflow of capital is expected to have a smaller impact because it will be flowing into a larger […]

On May 1, 2024, U.S. spot bitcoin ETFs experienced their most significant single-day outflows since their inception on Jan. 11, 2024. ETF Institute Co-Founder: ‘Inflows Don’t Go up in a Straight Line’ Data sourced from coinglass.com reveals that these funds saw a withdrawal of $563.7 million on Wednesday, with Fidelity’s FBTC experiencing the highest outflow, […]

The Middle East and North Africa (MENA) lead the world in the adoption of blockchain and cryptocurrencies because governments in the region actively promote digital transformation in their strategic future visions, according to Faisal Al Monai, chairman and co-founder of Droppgroup. This commitment by governments in the region “creates a favourable environment for the growth […]

Unknown attackers recently siphoned digital assets valued at just under $1.6 million from the decentralized finance protocol, Pike Finance. The protocol announced it is offering a 20% reward for the return of the funds, while an ongoing investigation into the incident continues. USDC Vulnerability The decentralized finance (defi) protocol, Pike Finance, said on May 1 […]

Hot news: These changes have happened in the last hour.

In the last one hour Bitcoin is leading the record of among the most popular crypto-currency in the trading ecosystem, it has an decrease of -0.33% from its previous value from 6631.875 dollars now at 6609.990 dollars exchange rate. Next to Bitcoin is T..

The post Bitcoin $6609.990 – CryptoCurrency Trading Report – 24.09.2018 09:08 appeared first on CryptoCurrency Blog.

Hot news: The summaries of the last one hour are the followings:

Bitcoin is leading the rank on the most popular crypto-currency, it has an upsurge of 0.12% in its exchange rate, which means 6668.000 dollars from the 6660.008 dollars earlier. Tether is in the second position as Bitcoin leads the first spot. ..

The post Bitcoin $6668.000 – CryptoCurrency Trading Report – 24.09.2018 08:08 appeared first on CryptoCurrency Blog.

Hot news: Here we summon for you the changes of the market of CryptoCurrency from the last 60 minutes.

In the last hour, Bitcoin is leading the cryptocurrency rank. A fall in the exchange rate was seen from 6663.014 dollars to 6640.360 dollars a -0.34% change. Next to Bitcoin is Tether in the second position..

The post Bitcoin $6640.360 – CryptoCurrency Trading Report – 24.09.2018 07:08 appeared first on CryptoCurrency Blog.

Hot news: Here you can read the new CryptoCurrency report of the last 60 Minutes.

Bitcoin is leading the rank in the last hour as the most popular crypto currency in the trade market, with a recorded fall on its value of about -0.12% in the last hour with a current standing rate of 6674.850 dollars from 6682..

The post Bitcoin $6674.850 – CryptoCurrency Trading Report – 24.09.2018 06:07 appeared first on CryptoCurrency Blog.

Hot news: There were a lot of happenings in the last 60 minutes on the Crypto stock exchanges.

Bitcoin is listed as the most popular cryptocurrency in the market. In the last sixty minutes, it had an downswing of -0.19% on its trading price. This means from 6699.038 dollars now at 6686.310 dollars. Tether is..

The post Bitcoin $6686.310 – CryptoCurrency Trading Report – 24.09.2018 05:07 appeared first on CryptoCurrency Blog.

Hot news: Now we show you the newest summary of 60 minutes.

Bitcoin is now leading the rank on the most popular digital currency in the trade market. It has an decrease of -0% in its exchange rate from 6704.570 dollars now at 6704.570 dollars. Bitcoin is seconded by Tether, in a 60 minutes time it has a drop..

The post Bitcoin $6704.570 – CryptoCurrency Trading Report – 24.09.2018 04:07 appeared first on CryptoCurrency Blog.

Hot news: Here we summon for you the changes of the market of CryptoCurrency from the last 60 minutes.

Bitcoin was in the top position in the last hour, the exchange rate decreases from 6710.021 dollars to 6709.350. This is a -0.01% recorded change. Tether is at the second position next to Bitcoin, with a re..

The post Bitcoin $6709.350 – CryptoCurrency Trading Report – 24.09.2018 03:07 appeared first on CryptoCurrency Blog.

Hot news: These changes have happened in the last hour.

Bitcoin was in the top position in the last hour, the exchange rate increases from 6689.711 dollars to 6709.780. This is a 0.3% recorded change. Bitcoin is followed by Tether, with a -0.07% tumble on its trade value in the last one hour, equivalent to 0..

The post Bitcoin $6709.780 – CryptoCurrency Trading Report – 24.09.2018 02:07 appeared first on CryptoCurrency Blog.

Hot news: Here we summon for you the changes of the market of CryptoCurrency from the last 60 minutes.

The number one cryptocurrency leader is Bitcoin, this data was fetched in the last hour. It has an decrease on its trade value to -0.2%, now at 6687.450 dollars from 6700.852. Tether is at the second positi..

The post Bitcoin $6687.450 – CryptoCurrency Trading Report – 24.09.2018 01:07 appeared first on CryptoCurrency Blog.

Hot news: These are the changes of the CryptoCurrency market in the last one hour.

Bitcoin is now leading the rank on the most popular digital currency in the trade market. It has an increase of 0.05% in its exchange rate from 6689.215 dollars now at 6692.560 dollars. Tether is next to the leading crypto Bit..

The post Bitcoin $6692.560 – CryptoCurrency Trading Report – 24.09.2018 00:07 appeared first on CryptoCurrency Blog.

As a crypto analyst and frequent investor in the Greek digital currency market, I can confidently recommend Bcash for convenient and secure Bitcoin purchasing in Athens. With 10 strategically located crypto ATM hotspots spanning central Athens and the northern suburbs, Bcash enables instant access to leading cryptocurrencies like BTC, ETH, and USDT. Experience the Leading […]

The post Top 5 Bitcoin ATM Locations in Athens for Fast and Easy Crypto Access appeared first on CryptoNinjas.

Bitwise Asset Management, the largest crypto index fund manager in America, announced today that the Bitwise Bitcoin ETF (BITB), the firm’s first spot bitcoin ETF, intends to begin trading today, January 11th. BITB will join Bitwise’s comprehensive suite of 18 crypto investment products, which currently includes five other crypto ETFs. “We expect significant demand for […]

The post Bitwise launching spot bitcoin ETF (BITB) appeared first on CryptoNinjas.

It is no longer unusual to hear that a bank accepts savings in Bitcoin, Ethereum, and the like. Or that a loan company helps businesses with crypto. After all, the traditional financial and insurance industries were among the first to adopt cryptocurrencies. The latter ones have found more than one way to incorporate these means of payment […]

The post Cryptocurrency Payments for Insurance: Are Insurance Companies Really Embracing Bitcoin and Altcoins? appeared first on CryptoNinjas.

For some people, the word bitcoin still triggers an eye-roll, but by now, most of us know that cryptocurrency is here to stay. With that in mind, it’s a good idea to make sure you’re clued up and well-educated on the topic, especially if you’ve ever considered investing yourself. However, with so much misinformation floating […]

The post 4 Things We’ve Learned About Owning Bitcoin in 2023 appeared first on CryptoNinjas.

Today, Fuse Network, an enterprise-grade, use-case agnostic, decentralized EVM-compatible public blockchain, announced Liquify as its newest remote procedure call (RPC) provider and ecosystem partner. Liquify will provide public RPC services – both free and private. RPC nodes help process requests from decentralized applications (dApps). They are vital for improving the usability of web3 and for […]

The post Fuse Network welcomes Liquify as new blockchain infrastructure partner appeared first on CryptoNinjas.

Welcome to the world of BITmarkets – a leading cryptocurrency exchange offering a wide range of trading options for both retail traders and corporate clients. In this comprehensive review, we will explore the various features and services provided by BITmarkets, including spot, futures, and margin trading. Whether a seasoned trader or just starting your cryptocurrency […]

The post BITmarkets – Spot, Futures, Margin Trading with 150+ Cryptocurrencies appeared first on CryptoNinjas.

HashKey Exchange, the first licensed retail virtual asset exchange registered in Hong Kong, announced its official launch today. Together with executives from the HKSAR government, top-tier banks, insurers, and Big 4 auditing firms, HashKey held the grand launch in Hong Kong. Strictly adhering to the SFC’s user registration and KYC requirements, the HashKey Exchange platform […]

The post Hong Kong’s first licensed crypto exchange HashKey is now live appeared first on CryptoNinjas.

Adenasoft, a South Korea-based IT/software company, has just announced the launch of ACE, their new SaaS product designed for cryptocurrency exchanges. ACE fully prepares businesses for exchange operations quickly, taking less than a month to get up and running. ACE offers a comprehensive suite of features that enables crypto exchanges to streamline their operations and […]

The post Adenasoft launches new crypto exchange white label solution: ACE appeared first on CryptoNinjas.

This week, the team of Pods, a provider of structured products for crypto assets, unveiled its latest offering – the ETHphoria Vault. This innovative yield strategy is designed explicitly for ETH enthusiasts who are bullish about its future prospects and want to earn even more from increasing prices. ETHphoria is a low-risk, principal-protected strategy designed […]

The post Maximize Your ETH Investment: The ETHphoria Vault by Pods appeared first on CryptoNinjas.

The team of Pods recently announced the mainnet launch of its 3rd strategy on Pods Yield: FUD Vault, which now complements ETHphoria and stETHvv. FUD Vault provides a way for users to benefit from market downturns by offering a mechanism to hedge against significant price drops in ETH while preserving the deposited principal. Who is […]

The post Crypto traders can mitigate risk with PODS’ FUD Vault – now live on mainnet appeared first on CryptoNinjas.

DeFi Returns brings comprehensive up-to-date information on DeFi strategies and protocols, to easily compare and analyze their performance. Getting the most reliable data source for historical yield on DeFi, to help users make informed decisions when investing in the ecosystem. All data displayed is sourced from the protocol’s smart contracts directly. The new DeFi Returns […]

The post What is DeFi Returns? A new way of DeFi Investing appeared first on CryptoNinjas.

RockX, an Asia-based institutional-grade staking services provider, announced today the broadening of its staking product suite with the addition of a new ether (ETH) native staking solution. This latest offering strengthens RockX’s position as a comprehensive provider of diverse staking needs, maneuvering quickly to the evolving crypto market landscape. Navigating the Ethereum ecosystem presents institutions with […]

The post RockX broadens suite with launch of new ether (ETH) native staking solution appeared first on CryptoNinjas.

Hex Trust, a regulated institutional-grade crypto-asset custodian, today announced it has partnered with The Sandbox, a leading decentralized gaming virtual world to enable fully-licensed and highly-secure custody of assets such as LAND in The Sandbox’s metaverse. The partnership sees Hex Trust fully integrate LAND into its custody platform, Hex Safe, which supports cryptocurrencies, security tokens, and NFTs. […]

The post The Sandbox teams with Hex Trust for licensed, secure custody of its virtual assets appeared first on CryptoNinjas.

CoinFlip, a bitcoin ATM and crypto services company, announced today a new offering with the launch of ‘Olliv,’ a self-custody-powered crypto platform. The Olliv platform provides a frictionless way to buy, sell, send, receive, and swap cryptocurrency securely stored on a self-custodial wallet, removing the uncertainty of unknown third-party custodians. By leveraging CoinFlip’s existing network […]

The post CoinFlip launches new self-custodial cryptocurrency wallet platform ‘Olliv’ appeared first on CryptoNinjas.

Deribit, a popular cryptocurrency derivatives platform, has announced the launch of zero-fee spot trading, allowing clients to buy and sell crypto while simultaneously managing risk using other derivatives. Spot trading will start on April, 24th 2023 at 1 PM UTC with three pairs (BTC/USDC, ETH/USDC, and ETH/BTC), providing clients with a simple and free solution […]

The post Crypto derivatives exchange Deribit to launch zero-fee spot trading appeared first on CryptoNinjas.

Japan-based banking giant Nomura, announced today that its digital assets subsidiary, Laser Digital, has made a strategic investment in Infinity, a non-custodial interest rate protocol built on Ethereum. Infinity’s wholesale exchange, the first of several planned infrastructures, provides inter-exchange clearing, fixed and floating rate markets, as well as enterprise-grade risk management utilizing hybrid on-chain/off-chain infrastructures […]

The post Nomura’s Laser Digital invests in Infinity, an Ethereum-based money market protocol appeared first on CryptoNinjas.

Blocknative, a real-time Ethereum (ETH) infrastructure platform, has newly introduced features including transaction bundle send, cancellation, and replacement support for the Blocknative Builder. Searchers can now submit MEV bundles privately to the Blocknative Builder to be included on-chain. This market utility builds upon Blocknative’s reliable, real-time infrastructure that is systematically important to the Ethereum ecosystem. […]

The post ETH infrastructure platform Blocknative adds TX bundles, cancellation, and replacement support appeared first on CryptoNinjas.

Eventus, a provider of multi-asset class trade surveillance and market risk solutions, announced today that cryptocurrency derivatives exchange Deribit has chosen the firm’s Validus platform to provide market abuse monitoring on the exchange. Headquartered in Panama City, Panama, Deribit is one of the largest cryptocurrency options exchanges by volume and open interest, with approximately 90% […]

The post Crypto derivatives exchange Deribit to put in place trade surveillance platform from Eventus appeared first on CryptoNinjas.

Gemini, the popular bitcoin & crypto exchange company, today announced the launch of electronic over-the-counter trading (eOTC), an automated crypto trading solution designed for institutions. The Gemini eOTC solution offers a variety of advantages to institutional traders including: Competitive Pricing & Execution: Liquidity is sourced from top-tier liquidity providers with deep liquidity pools, enabling counterparties […]

The post Crypto exchange Gemini launches new electronic OTC trading solution appeared first on CryptoNinjas.

GenTwo Digital, the crypto-asset securitization platform based out of Crypto Valley in Zug, Switzerland, today announced a partnership with Coinbase, the publicly-listed cryptocurrency platform. This new partnership for GenTwo Digital allows all Coinbase crypto assets to be wrapped in bankable financial investment products and enables financial intermediaries to issue certificates such AMCs (Actively Management Certificates). […]

The post Crypto securitization platform GenTwo links to all Coinbase assets appeared first on CryptoNinjas.

ThunderCore, a leading blockchain & web3 ecosystem announced today that they are making a new development push, partnering with new validators as the chain rolls out its new crypto staking model. The newest ThunderCore validators include the famous crypto-asset exchange Huobi and one of the earliest staking platforms in the space, MyCointainer. Users of both […]

The post Blockchain ecosystem ThunderCore teams with Huobi and MyCointainer in node expansion appeared first on CryptoNinjas.

Pods, creators of a DeFi platform, announced today that earlier this year, the team raised $5.6M in seed funding to create structured products for crypto-assets. The financing featured investors such as IOSG, Tomahawk, Republic, Framework Ventures, and more. The first strategy on Pods Yield is stETHvv (Ethereum Volatility Vault). stETHvv is a low-risk product focused […]

The post DeFi protocol Pods raises $5.6M to support its structured crypto products dApp appeared first on CryptoNinjas.

Deribit, the popular cryptocurrency derivatives exchange, announced today it has launched a new ‘Proof of Reserves‘ tool for clients using the trading platform. Now, clients are provided with the functionality to verify their assets to be included in Deribit’s overall reserves. How it Works Deribit provides all addresses for all on-chain assets and it delivers […]

The post Crypto derivatives exchange Deribit releases new client verification of assets tool appeared first on CryptoNinjas.

Tenderly, creators of a blockchain development platform, today announced that it is the first web3 development platform to offer simulations through RPC on its Tenderly Web3 Gateway, the company’s production node as a service. Note, Tenderly already processes more than 50 million simulations per month through its Transaction Simulator. Now, the company is introducing the […]

The post Tenderly introduces TXN simulations on its blockchain gateway for efficient dApp development appeared first on CryptoNinjas.

DFINITY Foundation, the not-for-profit organization contributing to the development of the Internet Computer (IC) — a high-speed, internet-scale public blockchain — has announced today the Internet Computer’s mainnet integration with Bitcoin, bringing smart contract functionality to the cryptocurrency. Now, the Internet Computer can serve as a layer-2 for Bitcoin where smart contracts on the Internet […]

The post DFINITY brings new smart contract functionality to Bitcoin with Internet Computer integration appeared first on CryptoNinjas.

The blockchain analytics firm will provide tools to spot sanctioned and illicit activity and provide market information.

According to Senators Elizabeth Warren and Angus King, the Iranian government has used funds from crypto mining to fund terrorist organizations.

The Atomicals protocol provides a transparent, secure record of ownership and history for Bitcoin NFTs.

Representatives Mike Flood and Wiley Nickel urged the SEC's chair Gary Gensler to stop discriminating against Bitcoin funds in a letter.

Need to know what happened in crypto today? Here is the latest news on daily trends and events impacting Bitcoin price, blockchain, DeFi, NFTs, Web3 and crypto regulation.

Bitcoin price shows signs of a recovery, but analysts are uncertain whether the strongest part of the correction has passed.

The Telegram-TON hookup opens up a broad spectrum of Web3 opportunities for Telegram’s 900 million monthly users, Pantera Capital said.

Mr. 100, an entity previously identified as Upbit, has bought over $147 million worth of Bitcoin for the first time since the halving, suggesting an end to the current retracement.

A judge in Nigeria reportedly adjourned proceedings in a case against Binance and two executives until May 17 to allow lawyers to review certain documents.

Deep fake nudes to be outlawed in UK and Australia, pick up artists fake big live stream audiences to meet women, plus more news: AI Eye.

Bitcoin bulls see signs of the worst being over as a BTC price bounce gathers pace toward $60,000.

Binance has exchanged a diversified $1 billion crypto portfolio in SAFU funds into USD Coin.

Today, the price of Solana has risen, propelled by a series of positive announcements related to the network and the Fed's decision to forego rate hikes in 2024.

Stronghold announced its first quarter results for 2024 and revealed that it is considering a range of options to increase shareholder value including selling the business.

MoonPay users in the U.S. can now buy and sell 110 different cryptocurrencies using PayPal transfers via wallet, bank transfers or debit cards.

The growing interest in Runes and Bitcoin DeFi will drive more activity to layer-2 networks, according to Stacks’ product manager.

Making the token nontransferable could force users to pay the 1.5% Friend.tech platform fee in an “ironic” shift from the platform’s non-venture capitalist approach.

Shorting Bitcoin on Binance and Coinbase is akin to a high-stakes gamble where mastering margin trading and futures contracts is key to tilting the odds in your favor.

The hacker holds about $4.3 million in various crypto assets in their Ethereum wallet.

The Bitcoin halving is widely expected to have a positive impact on the price of the preeminent cryptocurrency, but analysts expect volatile price consolidation in the short term.

Despite the excitement around the Hong Kong ETF debut, the inflows are only a fraction of the outflows from U.S. ETFs. Could the Bitcoin price revisit the $50,000 mark next?

In a statement, Microsoft said it will collaborate with the Malaysian government to establish a “national AI Center of Excellence” and improve cybersecurity capabilities.

The law enforcement agency managed to track the funds linked to the E-Nugget scam app to different crypto exchanges and, with their help, seized over $10.5 million in crypto assets.

LayerZero’s ZRO perpetual futures contract is trading at $8.6 on Hyperliquid, the world’s largest perps DEX, suggesting a potential $17 billion fully diluted valuation.

BTC price action spooks ETF investors, data shows, but there is reason to believe that Bitcoin is seeing a broadly healthy correction.

Bitfarms is actively working to triple its current hash rate capacity to 21 exahashes per second with a $240 million investment.

The FBI arrested a New York resident for defrauding investors of at least $43 million in a multi-year Ponzi scheme that included a Las Vegas hospitality business and crypto trading operation.

Pike highlighted that the exploit occurred due to their team’s inadequate integration of third-party technologies such as the CCTP or Gelato Network’s automation services.

Patricia came under scrutiny following a hacking incident in May 2023, which led to a significant loss of customer funds.

Arkansas Governor Sarah Huckabee Sanders is expected to sign the bills into law, which will regulate miners’ noise, water use and licensing.

As Bitcoin slumps, on-chain data by Ki Young Ju, the founder of the blockchain analytics platform CryptoQuant, paints a stark picture: all new whales, including holders of spot exchange-traded funds (ETFs), are now underwater.  New Whales And Spot ETF Investors Are In Red Taking to X, Ju said that more losses would be incoming, predicting that HODLers will find “max pain” at around $51,000. The dip is less than $10,000 from spot rates, suggesting that although there are cracks, the correction might not be deep. Related Reading: Whales Dive In, But Dogecoin Price Sinks 20%: What’s Going On? This overview is welcomed, considering the recent sell-off. Even so, predicting price bottoms in a fast-moving market influenced by multiple forces is tough. As price action stands, Ju says believers may take the opportunity to double down on the coin. The founder adds that the current price discount presents an opportunity for savvy investors to outperform traditional finance whales, including institutions with BTC exposure via spot ETFs in the United States.  Bitcoin is under immense liquidation pressure at the time of this writing. Though bulls soaked up the sell-off earlier today, the coin remains within a bearish breakout. Prices are trading below the support zone of between $60,000 and $61,000 and below April 2024. Inflow To Spot Bitcoin ETFs Decline As Sentiment Deteriorate This formation suggests that though bulls are optimistic, the path of least resistance remains southwards for now. BTC dropped after posting impressive returns from October 2023 to March 2024, when prices peaked. Some analysts think the current cool-off is inevitable following sharp gains in the last six months. The fact that whales are underwater was unexpected, considering the state of affairs in the last week of April. Then, the inflow from new whales nearly doubled the cumulative holdings of older whales. Analysts said this influx of fresh capital pointed to growing institutional interest. However, looking at the current price action, new whales are now in the red territory, and their excitement seems to wane.  Related Reading: Bitcoin Bull Run Over? Analyst Predicts What To Expect Now According to Lookonchain data, inflow into the eight-spot Bitcoin ETFs, including BlackRock, has stalled. On May 1, all issuers, including Grayscale via GBTC, decreased by 1,950 BTC. Of note is that BlackRock’s IBIT has not seen inflows for five straight days. Still, confidence abounds. Inflows into spot Bitcoin ETFs are highly influenced by sentiment, which rests on how prices perform. If BTC shakes off the current weakness and tears higher in the expected post-Halving rally, spot ETF issuers will begin receiving new inflows.  Feature image from DALLE, chart from TradingView

The Bitcoin price continues to trend below $60,000 as a 20% decline triggered a brutal market-wide crash. This has exposed multiple critical support points for the cryptocurrency, some of which the price has already fallen below. In light of this, a crypto analyst known as Norok has revealed the level the BTC price must not fall below to maintain its bullish trend. Bitcoin Price Must Hold Above $51,800 In an analysis posted on the TradingView website, crypto analyst Norok revealed that $51,800 is now the most important support level for Bitcoin. Norok pointed out that Bitcoin has since returned to its last support level which was last seen in December 2023, making this a crucial support. In the meantime, the support that had been built up by bulls at the $62,000 level has since been broken by bears and has now been turned into resistance. Nevertheless, the crypto analyst does not believe that the Bitcoin price has turned bearish, despite the crash that has rocked the crypto market. For Norok to turn bearish, he stated that the BTC price would have to break down below support at $51,800. According to him, such a move will invalidate whatever bullish thesis is in play for Bitcoin, ending the bullish trend of 2023-2024. Source: TradingView.com In the short term, Norok identifies $56,900 as a level that bulls must hold. He explains that this could help to reinforce the current bullish trend. “Price must hold here at this Support and then it can recapture the cloud to resume to Bullish Trend,” the crypto analyst said. “This is a highly decisive moment in Price action today.” BTC Suffers As A Result Of ETF Outflows One major driver of the Bitcoin price decline in the last few weeks has been a turn from inflows to outflows in Spot Bitcoin ETFs. Since these ETFs require the issuers to hold BTC to support the assets they are selling to investors, inflows are incredibly bullish as these issuers have taken to buying BTC to fulfill this requirement. However, with investors beginning to withdraw their funds, the reverse has been the case, leading to a high selling pressure in the market. Spot Bitcoin ETFs have now recorded six consecutive trading days of outflows, reaching an all-time high outflow record $563.7 million on Wednesday, according to data from Coinglass. Source: Coinglass If these outflows continue, then the BTC price could continue to decline, and at the current rate, the pioneer cryptocurrency might be testing Norok’s $51,800 soon enough. However, a turn toward inflows would mean issuers have to buy BTC and this can translate to a price recover. BTC price pushes to $59,000 | Source: BTCUSD on Tradingview.com Featured image from Kiplinger, chart from Tradingview.com

An analyst has explained how the “fair value” of Bitcoin appears to be on track to achieve the $1 million milestone by 2035. Bitcoin Total User Count Could Forecast Fair Value Path Forward In a new post on X, analyst Willy Woo has discussed about how the fair value of Bitcoin could look like in the future based on the growth curve in the total user count on the network. Related Reading: Bitcoin Greed No More: Sentiment Back At Neutral After $57,000 Plunge The “total user count” here refers to the total number of investors present in the BTC space. Often, this metric is equated with the total number of addresses on the network carrying a balance, but in reality, it’s not the most accurate method as a lot of investors own multiple wallets. To make an estimation of an adoption curve, Woo has referred to all past studies done on the user count. The analyst shared the below chart in an X post a few days back. The adoption curve of the cryptocurrency over its entire history | Source: @woonomic on X The early part of the chart here is based on Glassnode’s on-chain clustering of addresses into “entities.” An entity is a collection of Bitcoin wallets that Glassnode has determined to belong to the same investor. For the next part of the curve, Woo has added the Cambridge and Crypto.com data on verified exchange users. Finally, the analyst has projected the resulting growth rate forward. According to this curve, there are a total of 426 million Bitcoin investors at the moment, with the number estimated to hit the 0.5 billion milestone by October of this year. Interestingly, the price of the cryptocurrency has been oscillating around this total user count growth curve throughout the years, as the below chart depicts. The adoption curve of the asset compared against its price action | Source: @woonomic on X More specifically, this oscillation in the price around the adoption curve of the cryptocurrency has existed since 2012. This means that in the pre-2012 period (the shaded region in the graph), this pattern doesn’t quite hold. “In the early days price was slow to catch up to user count, BTC didn’t even have a price until the 1000th user came in,” notes Woo. “Price discovery started with early markets like New Liberty Standard and MtGox. By Aug 2011 Bitstamp launched and we had multiple global exchanges to properly price the asset.” Now, if the growth curve of Bitcoin is taken as a guide for its future value as well, then the analyst projects a $1 million per BTC fair value by the year 2035. “Fair value” here is based on the line around which the asset has been oscillating. Related Reading: Crypto Analyst Predicts 244% Shiba Inu Rally Based On Bull Flag From the chart, it’s visible that BTC has historically gained distance over this line during bull markets, so the peak value in future rallies can be significantly more than this fair value. It now remains to be seen how the price of the cryptocurrency will develop in the coming years and whether this relationship between it and the total user count will continue to hold or not. BTC Price Bitcoin has observed a plunge of more than 8% over the past week, which has brought its price down to $58,600. Looks like the price of the coin has registered a sharp drop recently | Source: BTCUSD on TradingView Featured image from iStock.com, chart from TradingView.com

Cryptocurrency analyst Rekt Capital has come up with an intriguing narrative pointing to several trends in the current price action of Bitcoin that are similar to the price trends seen in the 2016 bull cycle, even as market sentiments continue to dwindle.  Bitcoin Trends Reiterating 2016 Pattern According to Rekt Capital, more than a month after the initial analysis, Bitcoin keeps demonstrating how much it closely resembles the cycle of 2016. Similar to 2016, Bitcoin has experienced further declines over the past three weeks following the Halving below the Range Low of its Re-Accumulation Range also known as the Post-Halving Danger Zone The post read: Over a month later Bitcoin continues to prove how it is more similar to the 2016 cycle. Just like in 2016, Bitcoin in this cycle is seeing additional downside below the Range Low of its Re-Accumulation Range in the three-week window after the Halving (i.e. Post-Halving “Danger Zone”). Given that Rekt Capital already addressed the concept of the Post-Halving Danger Zone, the analyst is not shocked by this current price decrease. During the 2016 cycle, about 21 days after the Halving event, BTC saw a lengthy decline of 11% before transitioning toward an upward direction. It is worth noting that Rekt Capital noted that if downside volatility around the Re-Accumulation Range Low is going to happen in this cycle, 2016 history indicates it may happen during the 15 days following the Halving. Since the recent event was concluded about 12 days ago, the expert’s prediction could be realized in the upcoming days. Related Reading: Bitcoin Enters ‘Danger Zone’ Post-Halving, Analyst Warns Of Potential Downside While the Post-Halving “Danger Zone” ends in 15 days, 2016 data suggests that there may be some negative volatility in the interim, possibly reaching the $60600 Range Low. Drawing attention to previous patterns, Rekt Capital highlighted a similar pattern between the 2016 and 2024 pre-Halving re-accumulation range. After a breakout from the re-accumulation range this year, BTC witnessed a Pre-Halving rally, as was observed in 2016. Pre-Halving Retrace Movement Just like in 2016, once the pre-Halving rally peaked, Bitcoin started its Pre-Halving retrace. Specifically, this occurred roughly 28 days prior to the Halving event in both 2016 and 2024. Related Reading: Analyst Warns Of Bitcoin Pre-Halving Retrace Echoing Troubling 2020 Trend A negative wick on the weekly candle indicates a significant reaction in the first week of the pre-Halving Retrace in 2016. However, this reaction was fleeting and came before an extended price decline. This cycle likewise saw a strong early reaction from Bitcoin via a downward wick, but there are indications that this reaction might not have lasted long. Thus, to avoid a fate similar to that of 2016, Rekt Capital believes that BTC will need to maintain highs around $60,000 and beyond. Featured image from iStock, chart from Tradingview.com

On-chain data recently showed that Ripple carried out its monthly escrow unlock for May. As expected, this has raised concerns about how it could affect the XRP price, especially since Ripple has been accused of manipulating the token’s price.  Ripple Unlocks 500 Million XRP Tokens Onchain data revealed 500 million XRP tokens were unlocked from Ripple’s escrow on May 1. The crypto firm is known to unlock 1 billion tokens monthly, although it looks to have only unlocked half this time around. The magnitude of these tokens always raises concerns, considering the negative impact they could have on the altcoin’s price if dumped on the market.  Further analysis of the on-chain data shows that Ripple sent 300 million XRP out of the unlocked tokens to an escrowed account (2Not4co2op). Meanwhile, the crypto firm sent the remaining 200 million XRP tokens to another wallet (4vt5x1o91m). Considering that the 200 million XRP tokens weren’t sent to escrow, Ripple may have plans to sell them at some point, although it has yet to do so.  It is also worth mentioning that Ripple received another 500 million XRP tokens from an unknown wallet (ymFZmKxEsF). However, these funds were immediately sent to an escrow account. As such, the community can heave a sigh of relief since most of the XRP tokens Ripple received in the last 24 hours have been sent back to escrow.  Talks About Ripple Dumping On The Market Resurface Following the latest token unlock, the crypto community has reignited talks about Ripple’s alleged dumping on XRP holders. The question of whether or not Ripple’s XRP sales influence the token’s price has been a long-standing discussion, with notable figures like pro-XRP crypto YouTuber Jerry Hall even accusing Ripple of intentionally suppressing the altcoin’s price with its sales.  On the other hand, people like Ripple’s Chief Technology Officer (CTO) have clarified that the crypto firm’s XRP sales do not impact the crypto token’s price. Moreover, Ripple already discontinued programmatic sales, which means that its transactions cannot affect prices on crypto exchanges.  Ripple also noted in its recent court filing in its ongoing legal battle against the Securities and Exchange Commission (SEC) that it had taken measures to ensure its institutional sales did not violate securities laws. This suggests that Ripple conducts its sales over the counter (OTC) to avoid further scrutiny from the Commission.  At the time of writing, the token is trading at around $0.5, up over 2% in the last 24 hours according to data from CoinMarketCap.  Price rises above $0.51 | Source: XRPUSDT on Tradingview.com Featured image from The Motley Fool, chart from Tradingview.com

An analyst explained how Shiba Inu could be heading towards a massive rally based on a bull flag pattern that forms in its daily chart. Shiba Inu Has Been Consolidating Inside A Bull Flag Recently In a new post on X, analyst Ali has discussed about a bull flag that has recently appeared in the daily price of Shiba Inu. The bull flag is a pattern in technical analysis (TA) that, as its name suggests, is shaped like a flag on a pole. The pattern forms when an uptrend is followed by a period of consolidation inside a parallel channel toward the downward direction. The starting uptrend makes up for the pole, while the channel acts as the flag. Related Reading: Bitcoin Greed No More: Sentiment Back At Neutral After $57,000 Plunge Like other TA patterns, the consolidation channel or flag here comprises two parallel lines. The upper level connects the price tops, while the lower one joins the bottoms. When the asset retests either of these levels, it’s probable to undergo a reversal, with the upper line of the channel acting as a point of resistance and the lower one as support. A break above the resistance line is considered a bullish signal for the price. The uptrend resulting from such a break may be the same length as the flag’s pole. On the other hand, a drop below the flag (that is, a breakdown of support) invalidates the formation and may even suggest the takeover of bearish momentum for the asset. Similar to the bull flag, there is also the bear flag in TA, which works much in the same way, except that it occurs during a downtrend (with the flag signifying consolidation towards the upside following a downward pole). Now, here is the chart shared by Ali that shows the bull flag pattern Shiba Inu has potentially been forming on its daily price recently: The formation that the memecoin's price has been displaying during the last few weeks | Source: @ali_charts on X From the graph, it’s clear that the Shiba Inu 1-day price has been consolidating inside what appears to be a bull flag pattern channel in the past few weeks. “I’m placing buy orders around $0.000018343, aiming for a bullish breakout that sends $SHIB to $0.000072323,” says the analyst. The former level is about where SHIB should meet the flag’s support next if it continues in its current trajectory, while the latter target is based on the height of the pole. Related Reading: Bitcoin To $92,190: Crypto Analyst Reveals Path To ATH Target A run to the bullish target of $0.000072323 would imply a rally of more than 244% from the current spot price of the cryptocurrency, while from the lower support of $0.000018343, any such surge would correspond to a growth of over 294%. It remains to be seen whether Shiba Inu will show a break above this bull flag pattern and, if it does, whether the price will benefit from bullish effects. SHIB Price At the time of writing, Shiba Inu is trading around $0.00002110, down more than 18% over the past week. Looks like the price of the coin has been heading down over the last few days | Source: SHIBUSD on TradingView Featured image from Traxer on Unsplash.com, charts from TradingView.com

Dogecoin (DOGE), the Shiba Inu-faced darling of the 2021 memecoin frenzy, has found itself shivering in the current crypto winter. Once a symbol of retail investor exuberance, DOGE has plummeted over 70% from its sky-high peak, leaving its future shrouded in uncertainty. Related Reading: Bitcoin Slide Over? Top Analysts Unanimously Call $56,000 The Bottom DOGE Feels The Crypto Frost While Bitcoin, the heavyweight champion of the crypto world, grabs headlines with its recent wobble, the impact on memecoins like DOGE has been brutal. Unlike Bitcoin’s divided analyst opinions, the sentiment surrounding DOGE is decidedly bearish. At the time of writing, the memecoin was trading at $0.132, down 5.4% up the last 24 hours but sustained a 20% loss in the last seven days, data from Coingecko shows. Dogecoin price action in the last 30 days. Source: Coingecko Is DOGE A Canary In The Crypto Coal Mine? Some analysts believe DOGE’s struggles are a canary in the coal mine for the entire crypto market. They said if even a historically high-flying memecoin like Dogecoin can’t hold onto gains, it raises serious concerns about risk appetite in the crypto space in general. Dogecoin market cap currently at $18 billion. Chart: TradingView.com Whales Accumulating DOGE: A Glimmer Of Hope? However, a glimmer of hope flickers for the dethroned meme king. On-chain data suggests an increase in large wallet purchases of DOGE, hinting at potential accumulation by wealthy investors. This “contrarian” behavior could be a sign that some whales are using Coinglass or similar platforms to track Dogecoin derivatives and believe the coin is undervalued and ripe for a comeback. Source: Coinglass Coinglass, a popular cryptocurrency data provider, offers insights into factors that might be influencing the whales’ decisions. By analyzing metrics like open interest, funding rates, and liquidations on Coinglass, these investors might see an opportunity to buy DOGE at a discount. Related Reading: Solana Crawls: Network Update Fails To Fix Traffic Jam, Price Feels The Pinch In a similar development, Whale Alert, a well-known blockchain tracker, has reported that a DOGE whale arranged two large transactions in a single day. Some 150,000,000 Dogecoins were transferred in the first transaction, and an additional 76,316,694 DOGE were transferred in the second, for a total of almost 226 million DOGE. At the time, the meme cryptocurrency was worth around $40 million in fiat money. 🚨 150,000,000 #DOGE (21,281,922 USD) transferred from #Robinhood to unknown wallethttps://t.co/7U1CEfr2ZT — Whale Alert (@whale_alert) April 29, 2024 Can Dogecoin Thaw The Crypto Winter? The coming weeks will be critical for DOGE. The return of positive social media sentiment, coupled with continued accumulation by whales who might be strategically using Coinglass for market analysis, could be the spark that reignites the DOGE rally. However, if the broader market weakness persists, DOGE’s summer might be spent shivering in the doghouse. Featured image from Pixabay, chart from TradingView

Coinbase won approval to offer cryptocurrency derivative trading to U.S. retail customers, fueling much hope and momentum to the $2.1 trillion cryptocurrency derivative market.  Coinbase’s approval arrived following a significant decline in derivative trading volume due to economic uncertainties, regulatory struggles, and a reduction in risk from high wealth accounts and retail traders.  Derivative trading, such as futures, options, and others, has dominated the cryptocurrency market since 2014 as investors snap at the opportunity to place bets with little investment for a higher percentage return. A large percentage of the derivative market is influenced by retail traders, fueled by manic meme-stock trading and social media trends on platforms such as X, YouTube and Reddit. Although heavily favoured by institutional investors, who have maintained a fair, open position in the derivative market, Bitcoin exchange-traded funds (ETFs) make up a large share of traded assets.  Futures and options trading have had a fair share in the derivative market, but the recent dominance of copy trading is often cited as a key reason for the high volume of the derivative market over the past few months. Copy trading is slowly evolving into a big tool for retail traders looking to explore the derivative market, as many of these traders favour automated trading over spot or manual trading.   The data from Margex highlights much attention shifting to copy trading as a new strategy for retail traders looking to increase their profitability while leveraging an experienced trader to produce great profit returns with a profit share automated for both the user and pro trader.  Copy Trading And Gen Z Influence On The Derivative Market Copy trading involves users replicating the trading strategies of expert traders. This method allows users to diversify their portfolios, minimize risk, and increase their profitability in the financial market while trades are executed automatically and instantly.  The idea of copy trading is to enable users to benefit from the knowledge and skills of well-experienced traders. The users work to enhance their trading outcomes or build better trading or investment skills.  Research has shown that 44% of traders are copy traders, signifying an extreme surge of copy trading solutions in the last few years and is greatly influenced by the social age experiencing exponential growth as web3 technologies evolve.  Social media and Generation Z users (GEN Z) have amplified the popularity of trading strategies like copy trading through investment threads on X, Reddit, and even YouTube channels, with over 500,000 community individuals actively participating in such financial market discussions.  Through social media and online communities, young users have seen a high demand for copy trading as their interest grows through the consumption of financial information. This shows the social aspect significantly influences the adoption of copy trading.  By leveraging on the power of online communities and social aspects of trading, copy trading eliminates the rigorous learning phase of analyzing trades for retailers, simplifies trading processes and improves strategies to remain profitable.  Copy Trading A Community Building Tool  Investors and retail traders have a long history of following the leader or forecaster of the financial market, be it for short-term, medium-term, or long-term portfolio moves. Copy trading has long existed, with many sharing trade ideas or mimicking the trades of experienced traders such as Warren Buffet.  These patterns in the past among retailers are seen in the present generation as many retailers or users follow well-experienced traders to replicate their open positions.  With more retail traders adopting copy trading, it remains a dominant strategy in the derivative market compared to the spot market. Over 91% of futures trading participants are actively involved in copy trading while recording over 92% of profit returns.  According to CCData, the growth of the cryptocurrency derivative market has been influenced by retail traders’ demand for more innovative trading strategies, such as automation tools (copy trading) and AI algorithms, to enhance their trading approach. Many centralized exchanges recorded a new peak of $2.3 trillion in the derivative market.  CCData has shown much adoption in the derivative market as compared with spot trading. A large community of retail traders is approaching copy trading to earn a great profit on their investment. Over the past few years, the copy trading community have earned a profit margin of over 74 million USDT, reflecting increased engagement and the copy-trading method by retailers in the derivative market.  Many crypto trading platforms have adopted copy trading to fill the needs of retail traders looking for improved and robust trading methods to boost profitability. Margex, a copy trading platform, remains at the top of the list of copy trading platforms for these users.  Margex A Next-Gen Copy Trading Platform Margex is a next-gen copy trading platform built to help its users recreate success by mirroring the trades of experienced traders in the crypto industry on its intuitive platform.  Margex’s adaptation to better copy trading strategies that many exchanges lack has been a big boost for many retailers. This will address the high demand of users looking for automated approaches to enhance trading results while diversifying their portfolios to maximize profitability. To demonstrate its seriousness about providing the best services to users, Margex has spent over $3 million to build its copy trading platform with keen attention to usability. It also has a zero-fee converter that enables users to swap tokens easily, and a more ultra-modern wallet will soon be introduced for users to manage assets within a secure platform.  Follow this three simple step guide on participating in the Margex copy trading platform and replicating the trades of more experienced crypto traders.  1 Create An Account With Margex  Creating an account with Margex guarantees you the best copy trading experience as it is out to protect the interest of its copy trading users and provides a diverse range of skillful traders you wish to copy their trades.  2 Select Your Traders  Once logged in, navigate to the copy trading page to explore the copy trading leaderboard to select top-performing traders over time. Evaluate its performance metrics, such as followers, traders’ equity, return on equity (ROE), and strategies that align with your risk appetite and investment plans.   3 Allocate Funds  After choosing a trader to follow and confirming your strategy, allocate some funds to replicate their trades. Margex platform mirrors all trades automatically and in real-time.  As low as $10 is the minimum amount Margex requires to participate in copy trading strategies. 

The recent plummet in Bitcoin’s value below the $60,000 mark has sparked widespread speculation within the crypto community, raising questions among investors and market watchers about the future direction of its price. Marco Johanning, a well-known crypto analyst and founder of The Summit Club, took to X (formerly Twitter) to provide his insights on the current market conditions and what might be expected next. According to Johanning, the recent price action does not signify a market downturn but rather a correction within an ongoing bull market. He emphasizes, “Bitcoin lost the range. What now? First and foremost, a reminder: we are in a bull market, and this is a correction. This is not a rally in a bear market. Or in other words, the high time frame trend is up no matter what.” He supported this assertion with several indicators of a continued bullish trend. First, Bitcoin reached its bear market bottom in November 2022 and subsequently broke above the 200-day moving average, a critical indicator of long-term market trends. Following a drop below the 200-day moving average, there was a significant breakout above this level and THE major high time frame resistance in October 2023. Related Reading: Bitcoin Price Dips Below $57,000: 4 Key Reasons Moreover, Bitcoin achieved a new all-time high in March 2024. Over the last 18 months, Bitcoin has consistently recorded higher highs and higher lows, which are typical characteristics of a bullish market. “This can’t be a bear market,” Johanning explained. “These elements underscore a fundamental bias crucial for assuming that the current drop is part of a broader bull market trend. Therefore, Bitcoin will eventually find a local bottom and ascend higher.” Bitcoin Price Analysis: What To Expect Next? Johanning provided a detailed breakdown of possible future scenarios based on technical analysis. His first scenario is based on the monthly chart where the most crucial level is at $48,000-$49,000. This level is key because it was a major hurdle overcome in February 2024. Now, it might serve as the perfect point for a bullish retest. Furthermore, there’s a significant market imbalance down to the $48,000-$49,000 range, coinciding with the 0.5 Fibonacci retracement level from the last monthly swing low. This setup suggests a strong potential for price stabilization and reversal at this level, according to Johanning. The second scenario grounds on the weekly chart where the important level is at $52,000. This level acts as a major high time frame support/resistance, marked by a weekly imbalance that extends up to $52,000, and it matches the 0.382 Fibonacci retracement from the bottom to the top of the last major rally, and the 0.618 level from the last swing low to the top. The third scenario is based on the lower timeframes. Here, the most significant level is at $57,000. This mark is critical as it represents the 0.5 Fibonacci level from the last swing low and was a key area during the February climb. This level might serve as the stage for a potential deviation or price trap. “The recent bearish engulfing pattern breaking the monthly levels, followed by a bearish retest, signals significant market shifts,” noted Johanning. “If Bitcoin swiftly reclaims these key levels, particularly the $57,000 mark, we could see a deviation scenario unfold. Otherwise, the $52,000 or $48,000-$49,000 levels will likely be tested, each representing a higher low in the ongoing uptrend.” Related Reading: Bitcoin Is Fine As Long As It Holds Above $49,000: Analyst Impact on Altcoins And Market Strategy Altcoins have displayed remarkable resilience in the face of Bitcoin’s volatility, which Johanning finds particularly promising. “Usually, a significant drop in Bitcoin accompanied by a loss of a higher time frame range would lead to severe declines in altcoins. However, their strength yesterday is a good indicator that the worst may be over for altcoins,” he commented. Johanning concluded his analysis with an optimistic outlook for both Bitcoin and altcoins, expressing confidence in the continuation of the bull market. He is actively accumulating more at current prices, anticipating substantial returns: “No matter which scenario plays out, I am committed to this trend until proven otherwise. I’m investing heavily, and if we truly remain in a bull market, the potential for profit is tremendous.” At press time, BTC traded at $58,328. Featured image created with DALL·E, chart from TradingView.com

Bitcoin (BTC) has been battered by a relentless bear market over the past month, with its price tumbling 20% from its record highs. However, amidst the carnage, glimmers of hope emerge as prominent analysts predict a potential bottom forming around the current $57,000 mark. Related Reading: Solana Crawls: Network Update Fails To Fix Traffic Jam, Price Feels The Pinch Tough Opening Month For Bitcoin The start of May has not been kind to Bitcoin. The once-dominant cryptocurrency has seen a steady decline, plunging back to levels last witnessed in March before its monumental surge to $73,700. This recent price drop represents the most significant decline of this cycle, raising concerns about a prolonged bear market. The pain extends beyond Bitcoin, with the broader altcoin market feeling the tremors. Litecoin (LTC), the silver to Bitcoin’s gold, has mirrored the downward trend, shedding a staggering 25% of its value in the past month. While historically seen as a more stable alternative to Bitcoin, Litecoin seems to be tethered to its big brother’s fate in this current downturn. Finding The Bottom: Bullish Predictions Surface Despite the prevailing gloom, a chorus of optimism is rising from the crypto analysis community. Several heavyweight analysts believe Bitcoin may have found its footing around the current price range of $56,000 to $58,000. Rekt Capital, a popular crypto analyst, emphasizes a historical pattern where similar 20% dips have been followed by significant rebounds. Michaël van de Poppe, another well-respected voice, echoes this sentiment, suggesting Bitcoin may be nearing the end of its price consolidation phase. He cautions of potential short-term fluctuations but highlights the $56,000 to $58,000 zone as a crucial support level. #BTC This is officially the deepest retrace in the cycle (-23.6%)$BTC #BitcoinHalving #Bitcoin pic.twitter.com/Gcapbl0Nu6 — Rekt Capital (@rektcapital) May 1, 2024 Uncertainty Looms As Market Awaits Fed Decision While analyst optimism is a welcome sign, a cloud of uncertainty hangs over the crypto market. The upcoming Federal Reserve decision on interest rates could significantly impact investor sentiment and, consequently, Bitcoin’s price trajectory. A more hawkish stance from the Fed could trigger further selling, while a dovish approach might provide the tailwind needed for a Bitcoin rebound. Related Reading: Ethereum Fees Dive: Will This Spark A Surge In Network Activity? Buckle Up For A Bumpy Ride The next few weeks will be crucial for Bitcoin and the broader cryptocurrency market. The Federal Reserve’s decision and investor reaction to the current price slump will likely dictate the short-term direction. While bullish sentiment suggests a potential reversal, the inherent volatility of the crypto market means investors should brace for a bumpy ride. Bitcoin market cap currently at $1.13 trillion. Chart: TradingView.com Featured image from Pixabay, chart from TradingView

The layer-two initiative known as BOB, short for ‘Build on Bitcoin,’ has declared its mainnet operational with over 40 apps launching in the initial phase. Notably, the BOB application that facilitates bridging and access to the ecosystem is geo-blocked in the United States. BOB Mainnet Activates, Project Expects a ‘Bitcoin-Driven Defi Summer’ On May 1, […]

On Thursday, Zksnacks, the developer behind Wasabi Wallet, announced its decision to cease its coinjoin services following regulatory measures in the U.S. The company stated that the wallet will now operate as a standard non-custodial bitcoin wallet without the coinjoin feature. Zksnacks Withdraws Coinjoin Feature from Wasabi Wallet Following intensified regulatory scrutiny in the U.S., […]

Recently, Messari’s founder and CEO, Ryan Selkis, has expressed strong opinions about the potential impact of a Joe Biden reelection on the cryptocurrency industry in the United States. On Thursday, Selkis voiced his concerns on the social media platform X, stating that a “second Biden term will lead to mass wealth confiscation and crypto seizures.” […]

Coinbase, a leading U.S.-based cryptocurrency exchange, has finally announced the implementation of the lightning network, a Bitcoin layer 2 scaling solution. Coinbase will now allow its users to take advantage of this scaling protocol to avoid paying high fees for Bitcoin transactions, enhancing the utility of crypto for customers using Coinbase’s services. Coinbase Adds Lightning […]

PRESS RELEASE. Road Town, British Virgin Islands — May 2, 2024. EYWA, a consensus bridge that secures transactions across multiple protocols, has raised a total of $7 million as it delivers the new era of Web3 interoperability. The investment has been led by Curve Finance founder Michael Egorov — with the project recently attracting two […]

David Marcus, the former president of Paypal and the current CEO of Lightspark, envisions bitcoin as the primary currency for artificial intelligence (AI) in the future. He describes bitcoin as “maximally neutral,” highlighting its advantages over conventional fiat currencies like the euro or the U.S. dollar. Bitcoin Poised to Become Default Currency for AI, Says […]

A new study by Fidelity Digital Assets reveals that as bitcoin matures, its volatility is decreasing, making it less volatile than several S&P 500 stocks. “As the asset class matures and its total market cap grows, the inflow of capital is expected to have a smaller impact because it will be flowing into a larger […]

On May 1, 2024, U.S. spot bitcoin ETFs experienced their most significant single-day outflows since their inception on Jan. 11, 2024. ETF Institute Co-Founder: ‘Inflows Don’t Go up in a Straight Line’ Data sourced from coinglass.com reveals that these funds saw a withdrawal of $563.7 million on Wednesday, with Fidelity’s FBTC experiencing the highest outflow, […]

The Middle East and North Africa (MENA) lead the world in the adoption of blockchain and cryptocurrencies because governments in the region actively promote digital transformation in their strategic future visions, according to Faisal Al Monai, chairman and co-founder of Droppgroup. This commitment by governments in the region “creates a favourable environment for the growth […]

Unknown attackers recently siphoned digital assets valued at just under $1.6 million from the decentralized finance protocol, Pike Finance. The protocol announced it is offering a 20% reward for the return of the funds, while an ongoing investigation into the incident continues. USDC Vulnerability The decentralized finance (defi) protocol, Pike Finance, said on May 1 […]

Roger Ver, an early investor in Bitcoin and now an advocate of Bitcoin Cash, was arrested last weekend in Spain on US-brought criminal charges of mail fraud, tax evasion, and filing false tax returns. The authorities in the United States will now seek his extradition.

According to an announcement by the Justice Department yesterday (Monday), Ver evaded at least $48 million in taxes in the United States.

The Face of Bitcoin Cash

Ver is a vocal crypto advocate who even gained the title of “Bitcoin Jesus” in the early years of cryptocurrency adoption. However, he disagreed with the majority of the Bitcoin miners who opposed changes to the blockchain, leading to the creation of Bitcoin Cash. Ver became a strong advocate for Bitcoin Cash.

According to the latest announcement, Ver obtained citizenship from St. Kitts and Nevis in early 2014 and renounced his US citizenship. However, he continued to own MemoryDealers and Agilestar, two US-incorporated companies that sold computer and networking equipment.

An Early Bitcoin Investor

The US authorities allege that Ver began acquiring Bitcoins for himself and his companies as early as 2011. However, he failed to pay an “exit tax” allegedly during his expatriation. He is even accused of concealing information from a law firm he hired, resulting in the filing of false tax returns.

“As a result of his expatriation, Ver allegedly was required under US law to file tax returns that reported capital gains from the constructive sale of his worldwide assets, including the Bitcoins, and to report the fair market value of his assets. He was also allegedly required to pay a tax – referred to as an “exit tax” – on those capital gains,” the Justice Department noted.

The estimates of the US authorities show that Ver and his companies owned approximately 131,000 Bitcoins when he obtained St. Kitts and Nevis citizenship. The two companies held 73,000 of those Bitcoins.

“Ver allegedly provided or caused to be provided false or misleading information to the law firm and appraiser that concealed the true number of Bitcoins he and his companies owned,” the Justice Department added. “As a result, the law firm allegedly prepared and filed false tax returns that substantially undervalued the two companies and their 73,000 Bitcoins and did not report that Ver owned any Bitcoins personally.”

Furthermore, Ver sold “tens of thousands” of Bitcoins in November 2017 for about $240 million in cash. According to the US authorities, he needed to report the gains to the IRS and pay tax on the dividends he received from the two US-incorporated companies.

“Ver’s 2017 individual income tax return did not report any gain or pay any tax related to the distribution of MemoryDealers’ and Agilestar’s Bitcoins to him,” the Justice Department noted. “In total, Ver is alleged to have caused a loss to the IRS of at least $48 million.”

This article was written by Arnab Shome at www.financemagnates.com.

Strike, a payments application utilizing the Bitcoin blockchain, has launched its services in Europe, enabling customers in the region to engage in buying, selling, and withdrawing bitcoin (BTC). The announcement was made today (Wednesday).

Expanding Operations across Continents

Having recently expanded its operations to Africa, Strike has already established its presence in Asia, the Caribbean, and Latin America. However, availability may vary by country, and interested customers are encouraged to check their local iOS or Android app stores for accessibility, as some regions may be excluded from the expansion.

“As the third-largest economy globally … Europe presents vast opportunities for bitcoin adoption,” Strike said in a press release. “We’ve seen the demand and heard the feedback first-hand from the community.”

Blockchain technology is reshaping global payments with its security and efficiency. Unlike traditional methods prone to fraud, blockchain's decentralized ledger ensures secure transactions. Advanced cryptographic techniques like digital signatures bolster security further.

Eliminating intermediaries, blockchain enables direct peer-to-peer transactions, expediting settlements and reducing costs. Cross-border payments, often costly and time-consuming, stand to benefit greatly from blockchain's streamlined approach. With its potential to simplify and secure transactions, blockchain emerges as a disruptive force in the global payment landscape.

🚨LATEST: Bitcoin Payment App Strike Expands to Europe, Boosting Crypto Accessibility https://t.co/5p4jJ6qpDX

— CryptoCrunchApp (News Feed) (@GoCryptoCrunch) April 24, 2024

Introducing Bitcoin-Powered Payment Solution for European Market

Developed by Chicago-based Zap Solutions under the leadership of entrepreneur Jack Mallers, Strike was initially introduced in the United States in 2020. Similar to widely used online payment platforms such as Cash App or PayPal, Strike facilitates global money transfers for its users. Notably, Strike distinguishes itself by leveraging the Bitcoin blockchain, which enables swifter and more cost-effective transactions compared to conventional alternatives.

In Europe, customers will have the convenience of conducting BTC transactions directly with euro deposits via SEPA, the region’s payments provider. Recipients of these funds will have the flexibility to opt for receiving the value in either bitcoin, euro, or, in select areas, Tether’s USDT stablecoin.

This article was written by Tareq Sikder at www.financemagnates.com.

US prosecutors have proposed a 36-month prison sentence for Binance's former CEO, Changpeng Zhao. According to a report by CNBC, the prosecutors argued that such a sentence, which is double the advisory guidelines, reflects the seriousness of the charges against Zhao.

The recommendation, outlined in a sentencing memorandum filed with the Western District Court of Washington, highlights the severity of the accusations against Zhao, who stepped down from his position last November following a plea deal with the US Department of Justice.

US Prosecutors' Charges against Zhao

US prosecutors said a 36-month custodial sentence is necessary to underscore the seriousness of the charges against Zhao, which include failure to implement anti-money laundering measures as mandated by the Bank Secrecy Act. The memorandum emphasized Zhao's alleged role in allowing Binance to process transactions involving unlawful activities, including those from sanctioned countries.

The case against Zhao occurs amidst a backdrop of legal challenges for Binance, with the exchange facing lawsuits from both the US Securities and Exchange Commission and the Commodity Futures Trading Commission.

Allegations include mishandling customer assets and operating an illegal, unregistered exchange in the US. Authorities have also ordered Binance to pay hefty fines, with Zhao agreeing to a $50 million penalty as part of the plea deal. However, he has not publicly commented on the recent developments. Zhao's official sentencing is scheduled for April 30.

Binance CEO's Legal Struggle

In January, a federal judge rejected a travel request from Zhao to visit his home in the United Arab Emirates for a family emergency. The judge deemed him a significant flight risk due to his immense wealth and ties to the UAE, despite offering to post his $4.5 billion equity in Binance as security for his return.

In November, Zhao pleaded guilty in a Seattle federal court to failing to maintain an effective anti-money laundering program at Binance. As part of the case, Binance agreed to pay $4.3 billion in penalties.

In a letter to Judge Richard Jones dated December 22, Zhao's lawyers requested permission for him to travel to Abu Dhabi on January 4 for one to four weeks due to a family emergency. However, federal prosecutors did not consent to Zhao's request, leading to a hearing on December 29, when Judge Jones denied the travel bid.

This article was written by Jared Kirui at www.financemagnates.com.

The Philippines' securities regulator has taken enforcement action against Binance, ordering Google and Apple to remove their apps from their respective app stores. This action follows allegations that Binance offered unregistered securities to Filipino investors.

Philippines' SEC Targets Binance's Apps

The Philippines' Securities and Exchange Commission (SEC), through its Chairperson, Emilio Aquino, highlighted the threat posed to the security of investors' funds by continued access to Binance's sites and apps.

The regulator alleged that Binance's presence in the app stores facilitates the spread of its illegal activities in the country. This action is a response to findings that the exchange promoted its services to attract funds from Filipinos despite lacking the necessary licensing from the regulator.

🚨PHILIPPINES SEC GOES TO WAR AGAINST BINANCE🚨Blocking Binance will “prevent the further proliferation of its illegal activities in the country”- According to a post on the regulator’s official website, The Philippines version of the SEC is actively working with… https://t.co/kDCxReyoZ7 pic.twitter.com/IooxO752Jv

— BSCN (@BSCNews) April 23, 2024

The latest enforcement action in the Philippines adds to Binance's mounting legal challenges, including the recent replacement of its CEO and a hefty fine imposed by the US government against the exchange for alleged violation of anti-money laundering regulations.

Changpeng Zhao, the former CEO of Binance, awaits sentencing on charges related to violating the Bank Secrecy Act. Furthermore, the exchange is entangled in legal battles with both the US Securities and Exchange Commission and the Commodity Futures Trading Commission over purported mishandling of customer assets.

The Philippines' SEC has advised investors holding assets in Binance to promptly close their positions or transfer them to registered exchanges or wallets within the country.

Binance Grapples with Legal Hurdles

Last month, the Philippines' SEC blocked Binance's operations as an investment and trading platform due to claims that the exchange lacked the required license. According to the watchdog, Binance has continued its activities despite warnings issued since November 2023.

In a meeting held on March 12, the SEC formally requested the National Telecommunications Commission to block Binance's website and associated web pages. Aquino emphasized the threat posed to Filipino investors' funds by allowing continued access to the platform.

Binance's failure to secure the necessary license from the SEC contradicts the Philippines' regulations, which mandate companies secure approvals before soliciting investments and operating securities exchanges. Additionally, the exchange's extensive social media promotional campaigns targeting Filipino investors have raised concerns about compliance and investor protection.

This article was written by Jared Kirui at www.financemagnates.com.

MoonPay has partnered with PayPal to introduce a crypto purchasing option for cryptocurrency app users in the US. This service enables users to use PayPal for transactions via wallet transfers, bank transfers, and debit cards. The integration promises to enhance the accessibility and convenience of buying and trading cryptocurrencies by bridging the gap between traditional financial services and the crypto market.

Expanding Crypto Accessibility

According to the announcement on X, the collaboration between MoonPay and PayPal signifies a significant milestone in the journey towards mainstream adoption of cryptocurrencies. Users have access to a wider range of digital assets as PayPal extends its offering of crypto tokens through MoonPay.

Additionally, PayPal's integration into MoonPay's ecosystem represents a significant achievement in overcoming barriers to cryptocurrency adoption. Traditional banks have often imposed restrictions on transactions related to cryptocurrencies, leading to frustrations among users. This collaboration opens up new avenues for individuals seeking to invest in cryptocurrencies.

🌙 Exciting news from MoonPay! 💳Today, we're thrilled to announce a game-changing integration: MoonPay has partnered with @PayPal to offer seamless fiat-to-crypto transactions for users in the U.S.!🧵👇 pic.twitter.com/N3kobMR2ru

— MoonPay 🟣 (@moonpay) May 2, 2024

"MoonPay allows PayPal users to buy and sell 110+ cryptocurrencies, not just limited options like PYUSD or ETH. For existing PayPal users, the integration streamlines transactions, eliminating the need to manually input card information. Buying crypto on MoonPay becomes as easy as a few clicks," MoonPay noted.

Bridge Between Fiat and Crypto

Last year, PayPal entered the cryptocurrency space after launching a stablecoin fully backed by the US dollar. Dubbed PYUSD, the launch of the digital asset marked a significant step towards bridging the gap between traditional fiat currency and the rapidly evolving digital asset space.

PYUSD, developed in collaboration with Paxos Trust Company, is a digital asset anchored by US dollar deposits, short-term US Treasuries, and similar cash equivalents. This backing ensures that each unit of PYUSD is redeemable at a 1:1 ratio for US dollars.

With PYUSD, PayPal users can transfer the stablecoin between their PayPal accounts and compatible digital wallets. To ensure transparency, Paxos will regularly publish a report outlining the financial instruments backing PYUSD.

This article was written by Jared Kirui at www.financemagnates.com.

Worldcoin is eying a potential partnership with artificial intelligence research firm OpenAI, according to a report by Bloomberg. This latest development arrives despite the regulatory challenges facing the digital identity platform over privacy concerns. Through its parent company, Tools for Humanity, the cryptocurrency project plans to expand its services.

Navigating Regulatory Challenges

Recently, Spain and Portugal raised concerns over the inclusion of children in the project's iris scanning initiative, prompting regulatory action. Previously, the project collaborated with cybersecurity firm Okta Inc. to offer an authentication service. Worldcoin's identity systems support solutions for validating individuals in the digital world dominated by AI.

With the rising adoption of AI, the need to distinguish between humans and bots is important. Sam Altman, the Co-Founder of Worldcoin, is renowned for his involvement with OpenAI. Currently, he serves as the company's CEO. Amidst regulatory challenges, Tools for Humanity is enhancing its product. The firm is planning to launch a layer-2 blockchain called World Chain and improve the orb device.

However, despite a successful fundraising round last year, Tools for Humanity is reportedly facing uncertainty in tapping into the crypto market for additional funding. Market volatility and pricing fluctuations have prompted a reevaluation of planned token sales.

Driving Growth of AI

Meanwhile, OpenAI recently hosted top executives from Fortune 500 companies in major business hubs like San Francisco, New York, and London to pitch AI services. At the center of this initiative is OpenAI's enterprise-grade chatbot, designed to cater to specific industry needs ranging from finance to healthcare and energy.

OpenAI is proactively reaching out to corporate clients to offer customized AI solutions while assuring data security. Altman and COO Brad Lightcap emphasized the importance of personalized services and direct engagement with the AI firm.

Beyond corporate clientele, OpenAI is targeting Hollywood with video creation tools and offerings like ChatGPT Enterprise and the Sora video creation tool. However, there are concerns regarding AI's reliability and copyright implications in content creation.

This article was written by Jared Kirui at www.financemagnates.com.

In a legal saga that has captured international attention, a Nigerian court has adjourned the money laundering trial against cryptocurrency exchange Binance and two of its executives until May 17. The decision came after a lawyer representing the exchange informed the court that he had not been served with the essential documents necessary to prepare for the case.

Legal Proceedings Adjourned

Binance, along with its executives Tigran Gambaryan and Nadeem Anjarwalla, find themselves embroiled in legal proceedings alleging money laundering exceeding $35 million and engaging in specialized financial activities without the requisite license. Gambaryan, a US citizen and head of financial crime compliance, and Anjarwalla, a British-Kenyan serving as a regional manager for Africa, stand accused in this high-stakes trial.

During Thursday's court session, Binance's legal representative raised concerns about not receiving the additional proof of evidence crucial for preparing the defence. The lawyer highlighted the necessity of this documentation for adequately commencing the trial. However, he was promptly served with the over 300-page document while in court.

Nigeria court adjourns Binance and execs trial to May 17 https://t.co/OPE4vXonkt pic.twitter.com/3WWzWeAB0E

— Reuters Africa (@ReutersAfrica) May 2, 2024

Judge Delays Binance Trial for Evidence Review

Responding to the developments, the presiding judge opted to adjourn the proceedings to allow Binance's legal team ample time to scrutinize the provided evidence before the trial reconvenes on May 17.

In addition to the ongoing money laundering case brought forth by Nigeria's anti-graft agency, the Economic and Financial Crimes Commission (EFCC), Binance and its executives face another legal hurdle. They are also implicated in four counts of tax evasion, a separate trial for which is set to resume concurrently on May 17.

Earlier, Finance Magnates reported that two senior executives' detention raised concerns over diplomatic relations and cryptocurrency regulations. Authorities accused Binance of currency speculation, demanding user data to stabilize the devalued naira. President Tinubu's administration sees crypto exchanges as threats to reforms attracting foreign investment.

This article was written by Tareq Sikder at www.financemagnates.com.

Consensys, a United States-based blockchain firm, has initiated legal action against the Securities and Exchange Commission (SEC) in a bid to deter the regulator from overseeing the Ethereum blockchain. Filed yesterday (Thursday), the lawsuit termed the efforts of the regulator a “campaign to seize control over the future of cryptocurrency.”

A Strategic Lawsuit

The lawsuit argued that if the SEC continues to exert its authority over Ethereum, it would bring the blockchain to a halt, “crippling one of the internet’s greatest innovations.”

Consensys revealed that its actions against the SEC followed its receipt of a Wells Notice on April 10, indicating that the regulator is preparing to bring enforcement actions against the company over the services of its MetaMask wallet. The company highlighted that MetaMask is not a broker and “neither holds customers’ digital assets nor carries out any transaction functions.”

Today, Consensys took an important step towards preserving access to ether and by extension the Ethereum blockchain in the U.S. We are suing the SEC and fighting back against its overzealous regulatory overreach. You can find more of my thoughts here: https://t.co/VmvOsrCxjw… https://t.co/5IubZo69FW

— Joseph Lubin (@ethereumJoseph) April 25, 2024

Clarifying Regulations

With the lawsuit, the blockchain company is seeking the Texas federal court’s ruling that Ethereum is not a security and not under the authority of the SEC. Furthermore, it needs the assurance that any investigation into the company on the premises of Ethereum as a security “would violate” its Fifth Amendment rights and the Administrative Procedures Act. Additionally, the lawsuit seeks the ruling that MetaMask is not a broker and that the staking services offered by the platform do not violate securities laws.

“The SEC’s unlawful seizure of authority over ETH would spell disaster for the Ethereum network, and for Consensys,” the lawsuit noted.

The status of Ethereum hangs in the balance as the SEC’s Chair, Gary Gensler, earlier said that many digital currencies are unregistered securities and fall under the regulator’s purview. Bitcoin is the only cryptocurrency that the regulator considers a commodity, giving its regulatory rights to the Commodity Futures Trading Commission.

Meanwhile, Coinbase sued the SEC over the clarification of crypto-centric rules. However, the regulator took action against a number of crypto companies over lapses in regulations and is now fighting legal battles with multiple big names like Ripple, Coinbase, and Binance.

This article was written by Arnab Shome at www.financemagnates.com.

Tigran Gambaryan, the detained Binance executive in Nigeria, will remain in custody until a bail hearing on May 17. Meanwhile, his trial is scheduled for May 2.

More Jail Time in Nigeria

The extension of Gambaryan’s remand was granted by the Nigerian court yesterday (Tuesday) amid opposition from federal prosecutors to the appeal for bail. The crypto exchange’s executive has already pleaded not guilty to charges of tax evasion and money laundering.

Gambaryan holds the position of Head of Financial Crime Compliance at the crypto exchange. He and another fellow Binance executive, Nadeem Anjarwalla, who holds the position of its African Regional Manager, traveled to Nigeria in an official capacity earlier this year but were detained by local authorities.

Nigeria’s Economic and Financial Crimes Commission brought four counts of tax evasion charges against the exchange and the two detained executives. The charges primarily blame the defendants for non-payment of value-added tax, income tax, and failure to file tax returns. The exchange has been accused of aiding Nigerians in evading tax through its platform.

In an earlier statement, the exchange made it clear that the two executives were wrongly blamed as they did not have any decision-making authority.

The Great Escape

Meanwhile, Anjarwalla, one of the detained defendants and a citizen of both the UK and Kenya, escaped detention earlier this month and reportedly fled the country. Although his UK travel documents were seized by Nigerian authorities, he allegedly used Kenyan credentials to flee the country on a Middle Eastern airline.

Several local Nigerian publications recently reported on Anjarwalla’s arrest in Kenya and possible extradition to Nigeria to face trial. However, Anjarwalla’s wife came out and denied all these reports.

Yuki Gambaryan, the wife of Gambaryan, launched a petition requesting the US State Department, Nigeria’s Economic and Financial Crimes Commission, the Nigerian government, and US President Joe Biden to return her husband to the US.

This article was written by Arnab Shome at www.financemagnates.com.

The former Head of Crypto Operations at Revolut, Ruslan Fakhrutdinov, has launched a cryptocurrency exchange with an investment of $6.5 million. Tioga Capital, Semantic Ventures, Cherry Ventures, Starkware, and Cyber Fund are some of the investors in the new exchange dubbed X10.

Self-Custody and On-Chain Settlement

According to the press release, executives from Revolut and the Founder of Lido, Konstantin Lomashuk, have invested in the crypto platform. X10 combines aspects of a centralized exchange and a decentralized finance (DeFi) platform. It promises full self-custody of digital assets and on-chain settlement of transactions.

"With X10, we want to give our users and traders the best of both worlds. Imagine the features and the speed of Coinbase or Binance but with full self-custody," Fakhrutdinov said. The FTX situation, where users only got back a third of their funds, serves as a wake-up call for the industry. It urges us to reinforce trust and efficiency in crypto trading through on-chain trade settlement, validation, and self-custody."

X10's hybrid model promises to instill trust and efficiency in crypto trading, providing users with a solution that combines the best of CeFi and DeFi. The exchange operates as a hybrid central limit order book and handles order processing and matching off-chain.

CeFi and DeFi

According to the firm, this approach enhances market makers' capabilities, resulting in updated prices, tighter spreads, deeper liquidity, and an enhanced user experience. Notably, trade settlement occurs on-chain via the StarkEx Layer 2 engine. X10 uses on-chain settlement and validations, as well as independent Oracle price providers.

Additionally, X10 features multiple trading sub-accounts, order types customizable to the web, and comprehensive market analytics. The exchange expects to launch a mobile app and integrate Telegram bot functionalities. With the upcoming mobile app and Telegram bots, X10 expects to deliver a holistic trading experience across diverse platforms.

Last year, Revolut launched crypto trading services in New Zealand, providing access to over 100 digital currencies. The company's decision to venture into the New Zealand crypto market signaled its commitment to global expansion and diversification. This move grants customers access to educational resources for aspiring crypto traders.

This article was written by Jared Kirui at www.financemagnates.com.

Federal prosecutors charged Samurai Wallet founders, Keonne Rodriguez and William Lonergan Hill, with conspiracy to commit money laundering yesterday (Wednesday), marking another development in the US government's ongoing efforts to address the use of crypto mixing tools potentially exploited by illicit actors and foreign entities to conceal financial transactions.

Facing Legal Action over Alleged Transactions

According to a press release issued on Wednesday, Rodriguez and Hill stand accused of developing, marketing, and operating the mixer, purportedly facilitating more than $100 million in money laundering transactions from illegal dark web markets. The release further alleges that Samourai Wallet facilitated approximately $2 billion in "unlawful transactions" from 2015 to the present.

Prosecutors have claimed that Rodriguez and Hill accrued around $4.5 million in fees for their mixing services, with different features carrying various pool fees, as outlined in the indictment. The charges against the duo include conspiracy to commit money laundering and conspiracy to operate an unlicensed money-transmitting business, carrying potential maximum sentences of 20 years and five years, respectively.

Rodriguez was reportedly arrested on Wednesday morning and is expected to be arraigned in Pennsylvania today or tomorrow, while Hill, the Chief Technology Officer of Samourai Wallet, was apprehended in Portugal and will face extradition to the US.

Federal prosecutors have charged Samurai Wallet founders Keonne Rodriguez and William Lonergan Hill with conspiracy to commit money laundering 🚨According to a press release, the pair developed, marketed and operated the mixer, which "facilitated more than $100 million in money… pic.twitter.com/wOY8iZR95y

— Waivly (@Waivly) April 24, 2024

Website Seized Following Developer Indictment

The Samourai Wallet website, previously hosted in Iceland, has been seized, along with a seizure warrant issued for the mobile application on the Google Play Store. The website's homepage now displays a warning from US officials following the developers' indictment.

The Department of Justice's press release highlighted that Samourai Wallet had been under development since 2015, alleging that Rodriguez and Hill actively encouraged users to launder criminal proceeds through the mixer, citing social media posts and private messages. The mobile application reportedly garnered over 100,000 downloads.

This article was written by Tareq Sikder at www.financemagnates.com.

zondacrypto, a cryptocurrency exchange in the Central and Eastern European region, has announced its partnership with the Giro d'Italia cycling race. This collaboration designates zondacrypto as the Official Cryptocurrency Exchange of the 107th edition of the Giro d'Italia, set to commence on May 4th in Turin and culminate on May 26th in Rome.

Multi-Faceted Role: Includes Fantasy League Sponsorship

As part of this partnership, zondacrypto will enjoy visibility throughout the event, including branding at significant points along the race route, such as "kilometer zero" and on a specially designated car. Moreover, zondacrypto's involvement extends beyond the race itself, encompassing sponsorship of the FantaGiro d'Italia fantasy league, boasting over 12,000 participants.

“Together with the organizers, we believe that the ZND token, which will be the prize in the race, will revolutionize the future of sports sponsorship. Additionally, our logo on the leader's jersey will expose us throughout the Giro d'Italia Women, highlighting that zondacrypto is also a woman. We welcome Giro among our friends who, like us, believe in crypto as the currency of the future," commented Przemysław Kral, the CEO of zondacrypto.

Expanding Sponsorship Reach

In addition to its collaboration with the Giro d'Italia, zondacrypto will serve as the Official Sponsor of Giro di Lombardia, also known as "Il Lombardia," and the Giro Rosa, formerly known as the Giro d'Italia Women. These partnerships afford zondacrypto’s exposure within the global cycling community, including the placement of its logo on the 'red jersey' during the women's race.

Exciting news!We are proud to announce that we will be the Official Crypto Exchange Partner of the Giro d'Italia 🚴‍♂️Starting this Saturday in Venaria Reale and finishing on May 26 in Rome with ZND tokens to be won! 🇮🇹Look for us at 'kilometer zero', on the special car No. 1,… pic.twitter.com/avG5xPsDuU

— zondacrypto (@zondacrypto) April 29, 2024

zondacrypto has pledged to offer a prize for the standout female cyclist in the Giro Rosa, a notable event in the International Cycling Union calendar. Additionally, it will sponsor a prize for the winner of the FantaGiro d'Italia fantasy league.

“The dynamics of our Partner's growth is as high as the speed of the best cyclists during the tour. We're delighted that our global Giro d'Italia audience of nearly 800 million will help in increasing knowledge in the field of cryptocurrencies thanks to the involvement of zondacrypto," said Matteo Mursia, the Chief Revenue Officer, w RCS Sport.

This article was written by Tareq Sikder at www.financemagnates.com.

Binance's Founder, Changpeng Zhao, has been sentenced to four months in prison after pleading guilty to charges related to allowing money laundering on the cryptocurrency exchange, the Financial Times reported. The sentence, handed down in a Seattle federal court, marked a significant development in the ongoing legal battles involving Binance and Zhao.

Plea Deal and Sentencing

Zhao's sentencing occurred after he struck a deal with the U.S. government in November to resolve a longstanding investigation into Binance. As part of the settlement, Zhao agreed to step down as the exchange's CEO.

The sentence issued is less severe despite federal prosecutors seeking a three-year prison term. The defense had advocated for five months of probation, while sentencing guidelines suggested a term of 12 to 18 months. Zhao was convicted of willfully failing to implement effective anti-money laundering programs on Binance as required by the Bank Secrecy Act.

Additionally, he is convicted of allowing Binance to process transactions involving proceeds of unlawful activity, including those between Americans and individuals in sanctioned jurisdictions. As part of the resolution, Binance was ordered to pay $4.3 billion in fines last year. Zhao agreed to personally pay a fine worth $50 million.

Binance’s former chief Changpeng Zhao sentenced to 4 months in jail https://t.co/vySulvvr7W

— Financial Times (@FT) April 30, 2024

Pending Legal Battles

Beyond Zhao's sentencing, Binance faces other legal challenges. The exchange was separately sued by the US Securities and Exchange Commission (SEC) and the Commodity Futures Trading Commission (CFTC) over allegations of mishandling customer assets and operating an illegal and unregistered exchange in the US.

Early this year, a federal judge rejected Zhao's request to travel to the United Arab Emirates. The judge denied the plea due to concerns about flight risk despite Zhao offering substantial collateral, including his equity in Binance.

Meanwhile, the Securities and Exchange Commission (SEC) of the Philippines recently took action against Binance. According to the regulator, the leading crypto exchange has continued to operate without the required license despite warnings dating back to November 2023. The SEC's action includes a formal request to the National Telecommunications Commission to block Binance's website and associated web pages.

Binance's regulatory woes are not limited to the Philippines. Regulatory bodies worldwide have intensified scrutiny of the exchange's activities, citing investor protection and compliance concerns. Binance has encountered regulatory hurdles from France to Nigeria, comprising warnings and lawsuits.

This article was written by Jared Kirui at www.financemagnates.com.

Prometheum Capital has announced a strategic partnership with Broadridge Financial Solutions (NYSE: BR) to bolster its post-trade lifecycle and back-office operations. The firm gears up to introduce a custody, clearing, and settlement services suite for digital asset securities.

Prometheum Partners with Broadridge to Enhance Post-Trade Operations

Prometheum will leverage Broadridge's Shadow Post Trade Processing Solution and Business Process Outsourcing tools. These solutions encompass a wide range of capabilities, including bookkeeping, trade capture, reconciliations, and regulatory reporting.

"Collaborating with Broadridge is a pivotal step in our business strategy,” Benjamin Kaplan, the CEO of Prometheum, stated. “Their support is instrumental in advancing our mission of creating a well-regulated and efficient ecosystem for digital asset securities."

This partnership follows several significant achievements for Prometheum in 2024, such as the appointment of Albert P. Meo as the CFO and the company's declaration of its intent to offer ETH custodial services. Prometheum plans to initiate its custodial services within this quarter.

“By combining our expertise with Prometheum's vision, we are empowering investors and businesses while shaping the future of the financial industry,” added Zachary Dea, the Director and Head of Product for the Shadow Post Trade Processing Solution at Broadridge.

Since its inception in 2017, Prometheum has been actively engaged in the cryptocurrency arena. Within the first twelve months of its operations, the company launched the first SEC-compliant ICO trading platform.

Broadridge and the Digital Assets Market

Broadridge has also made significant inroads into the cryptocurrency, digital assets, and blockchain technology sectors. Notably, in 2022, the company forged a strategic partnership with Coinbase. This collaboration aimed to enhance interoperability between Coinbase Prime and Broadridge's Trading and Connectivity Solutions' NYFIX order-routing network. The partnership was designed to bolster the crypto market by improving liquidity and expanding access to crypto trading opportunities.

Furthermore, in 2021, Broadridge unveiled the latest iteration of its Private Market Hub platform. This platform is underpinned by the Amazon Managed Blockchain from Amazon Web Services, underscoring the pivotal role of blockchain in the evolution of financial technologies.

This article was written by Damian Chmiel at www.financemagnates.com.

CoinW Exchange, a notable presence within the digital asset trading domain, is undergoing changes as it observes its sixth-year anniversary. Situated in Dubai, the exchange has revealed an exhaustive rebranding effort alongside the debut of its Proprietary Trading (Prop Trading) product.

Introducing Prop Trading for Profit Opportunities

Having cemented its position within the digital assets trading industry, CoinW Exchange is now set to enter a fresh phase of development. A centrepiece of its transformation is the launch of the Prop Trading product, an offering aimed at providing traders with expanded avenues for profit optimization. This new product is set to play a role in CoinW Exchange's strategic outlook for the future according to the firm.

According to Sonic, the Director of CoinW PropTrading: "We have a host of exciting plans in the pipeline that promise to revolutionize the way digital assets are traded. We hope CPT can bring more opportunities to talented traders who are short of fund. CoinW will be the place that they can truly shine."

Challenges and Opportunities: UAE's Crypto Journey

A recent survey by KuCoin sheds light on the growing cryptocurrency landscape in the United Arab Emirates (UAE), as reported by Finance Magnates. Despite challenges, 59% of UAE crypto users view it as a long-term investment and 35% use it for portfolio diversification. Additionally, 29% see crypto as a more convenient asset storage method than traditional banks, and 22% use it for daily transactions.

Challenges include market volatility (52%), trust issues with crypto platforms (48%), and a lack of education (26%). However, the UAE benefits from strong financial infrastructure, cultural openness, regulatory favorability, access to capital, a skilled workforce, and global networks, positioning it as a promising hub for crypto industry growth.

Amidst escalating tensions, MetaQuotes is reportedly tightening restrictions on the use of MetaTrader platforms, although no official confirmation has been issued. This has led to the abrupt termination of partnerships between many proprietary trading firms and their brokerage partners. The primary concern appears to be the presence of active US clients onboarded by these platforms.

Proprietary trading has been predominantly linked with unregulated entities. However, regulated brokerages such as OANDA, Axi, and Hantec Markets have recently ventured into this space, keeping their services outside the US jurisdiction and under offshore regulatory entities.

This article was written by Tareq Sikder at www.financemagnates.com.

Bitget has released its latest Proof of Reserves (PoR) report for April 2024, highlighting a Bitcoin reserve ratio of more than 335%. The cryptocurrency exchange also indicated significant growth in USDT and ETH user assets since January 2024. The latest report arrived more than a week after the Bitcoin halving event.

Exceeding $2.7B in Reserves

Bitget's PoR report disclosed a total reserve ratio of 176%, with that of ether reaching 229%. According to the crypto exchange, this update strengthens its commitment to transparency and financial stability. The exchange has implemented additional measures, such as a protection fund and monthly valuations, to mitigate risks.

Gracy Chen, the Managing Director at Bitget, mentioned: "Bitget is unwavering in its commitment to transparency and financial stability. Our latest PoR update reinforces our dedication to safeguarding user assets and upholding the highest accountability standards. With a total reserve ratio of 176%, Bitget continues to lead by example in the cryptocurrency exchange industry."

On April 22, 2024, Bitget's total reserves exceeded $2.7 billion. The company plans to conduct routine audits to ensure continuous visibility into its reserves. The latest update highlighted a significant upsurge in USDT and ETH user assets by 51% and 46%, respectively, since January 2024.

Last month, Bitget recorded impressive growth in the first quarter, with a significant increase in trading volumes and the value of its native token, BGB. Bitget's futures trading volume jumped to $1.4 trillion, marking an increase of 146% from the previous quarter.

Growth in Trading Volumes

The exchange experienced substantial growth in derivatives market share, with a 2.4% surge in March. Concurrently, spot trading volume surged by 113%, exceeding $60 billion during the same period.

The surge in Bitget's trading volumes aligns with the broader trend observed across the cryptocurrency industry. According to Finance Magnates Intelligence, spot volumes for major cryptocurrency exchanges surged by 119% in March compared to the previous year and over 100% compared to February.

However, Bitcoin mining farms are adjusting to the aftermath of the halving event. For instance, Bitfarms plans to invest $240 million to triple its current hash rate capacity to 21 exahashes per second to remain competitive, Cointelegraph reported. This move occurred after Bitfarms reported its lowest monthly earnings over two years.

Bitfarms, like many other miners, experienced the impact of the Bitcoin halving, with its April earnings hitting a concerning low. Despite earning 269 Bitcoin in mining rewards and transaction fees, this figure was 6% lower than the previous month and 29% lower year-over-year.

This article was written by Jared Kirui at www.financemagnates.com.

The Tokyo-based financial services company Monex Group has completed its acquisition of a majority stake in 3iQ Digital Holdings, a Canadian crypto asset manager. The acquisition, initially announced in December 2023, has resulted in 3iQ and its subsidiaries becoming part of the Monex Group.

Monex Group Acquires Majority Stake in Canadian Crypto Asset Manager 3iQ

To support 3iQ's rapid business expansion, Monex Group has also invested $7.5 million in 3iQ's Managed Account Platform (QMAP). QMAP offers institutional investors access to a diverse range of crypto hedge funds, featuring alpha-oriented strategies tailored to meet the complex demands of global institutions. This investment significantly strengthens 3iQ's institutional digital asset management position.

The company was the first to launch a Bitcoin fund on the Toronto Stock Exchange in Canada. It further assisted CoinShares in creating a cryptocurrency ETF. Now, it will expand its crypto services under the Monex umbrella.

QMAP employs a stringent due diligence process to select fund managers with proven track records of generating alpha and effectively managing risks across various market cycles. These managers bring institutional backgrounds, specialized expertise, and operational excellence to the table.

"I have high [hopes] that QMAP will quickly become the leading platform for sophisticated investors to invest in a diversified suite of crypto hedge funds,” Yuko Seimei, the CEO of Monex Group, stated.

The platform's managed account structure allows 3iQ direct control over assets, enhancing transparency and risk management capabilities. This approach eliminates the extra layer of fees typically found in traditional fund-of-funds structures, enabling investors to customize their allocations or choose from pre-designed model portfolios at no additional cost.

“Together with Monex, we aim to create a superior investor experience that sets new standards globally,” added Pascal St. Jean, the President of 3iQ. "With a seasoned team, we remain committed to upholding our firm's decade-long tradition of developing cutting-edge investment solutions for institutional investors.”

The acquisition of 3iQ and investment in QMAP align with Monex Group's goal of strengthening its asset management business. Recently, the company has expanded its operations in the APAC region, planning to increase employment in the sales department by 80%.

This article was written by Damian Chmiel at www.financemagnates.com.

The Securities and Exchange Commission (SEC) in Thailand has warned digital asset exchanges that their advertisements and the organisation of introducing broker agent (IBA) events might violate local regulations, Bangkok Post reported today (Monday). The regulator clarified that IBAs can only promote digital token services to avoid speculation on cryptocurrencies, which are categorised as high-risk assets.

Clarifying Rules for Investors’ Benefits

IBAs are local companies or agents that onboard clients in a local market for their partner digital asset exchanges for commission. These practices are standard for exchanges or brokers that do not operate directly in some markets.

The warning came as the Thai regulator is reiterating the operations of digital asset exchanges in the country to ensure their compliance with local business standards and to focus on benefiting investors and protecting their interests.

Cryptocurrency exchanges are legal in Thailand, but they must obtain local approval. Last month, the country even allowed asset management firms to launch private funds to offer bitcoin exchange-traded funds (ETFs), but only to institutional and ultra-high-net-worth investors.

However, the country banned the sale of cryptocurrency lending products and also mandated that exchanges display a risk warning message.

Companies Must Be Honest

The recent cautionary order confirms the Thai regulator’s priority to ensure the advertisements and sales promotions of the crypto exchanges comply with specified criteria and also eliminate false, exaggerated, distorted, concealing, or misleading information. It further highlighted the mandatory warnings about investment risks for investors in all advertisements and promotions.

“When operators organise sales promotions by offering rewards to entice people to use the service, this could encourage use of the service without considering the investment risks. This is especially the case for cryptocurrencies,” Anek Yooyuen, Deputy Secretary-General of the Thai SEC said in a statement.

“The SEC is asking business operators to strictly comply with the rules and be careful when organising IBAs, advertising and sales promotions, following the relevant rules and guidelines. If there is any violation, there will be punishment according to the law.”

This article was written by Arnab Shome at www.financemagnates.com.

Argo Blockchain (LSE: ARB; NASDAQ: ARBK), a cryptocurrency mining company, has released its 2023 financial results, revealing a year marked by strategic adjustments amidst industry challenges. However, despite achieving a modest gross profit, net income was negative for another consecutive year.

Argo Blockchain Tried to Weather Crypto Storm, Cuts Debt by 63% in 2023

The company mined 1,760 Bitcoin throughout the year, averaging 4.8 Bitcoin per day, despite facing increased global hashrate and network difficulty.

Annual revenues reached $50.6 million, a decline of 14% from the previous year, as the mining margin decreased to 43% from 54% in 2022. However, Argo made significant strides in optimizing its operations, increasing its hash rate by 0.3 EH/s through the introduction of ePIC BlockMiners at its Quebec facilities and generating $7.2 million in power credits through strategic energy curtailment at the Helios location.

The company reported a net loss of $35 million for 2023, a substantial improvement from the $229 million loss in 2022. This was largely due to a reduction of 49% in interest expenses, achieved through debt management efforts. By year-end, Argo had reduced its debt owed to Galaxy Digital to $23.5 million, with a total debt standing at $66.2 million.

"Despite a turbulent market, we have worked hard to strengthen our balance sheet and reduce Argo's debt burden by $22 million, or 63%, and improve our cash positions,” commented Thomas Chippas, the CEO of Argo.

In early 2024, Argo successfully raised $9.9 million through a share placement with institutional investors and sold its Mirabel, Quebec data center for $6.1 million, using the proceeds to reduce debt further. Preliminary Q1 2024 results show continued growth, with 319 Bitcoin mined and revenues nearing $17 million.

Mining Operations Post-Halving

As the cryptocurrency industry continues to evolve after the recent halving, Argo Blockchain remains focused on navigating challenges, optimizing operations, and positioning itself for long-term success in the competitive mining landscape.

“We exited the Bitcoin halving with a stronger balance sheet and leaner operations, and we are optimistic about the ongoing growth and development of Argo with a clear objective of delivering shareholder value,” Chippas added.

However, the new operating environment is not easy. After the fourth halving, Bitcoin recently underwent its initial difficulty adjustment, experiencing a rise of 1.99% and elevating the mining difficulty to a new record. The network’s difficulty level increased from 86.39 trillion to 88.10 trillion.

This article was written by Damian Chmiel at www.financemagnates.com.

Australia is preparing to join Bitcoin exchange-traded fund (ETF) bandwagon. The country's primary equity exchange, ASX Ltd, is anticipated to approve the launch of Bitcoin ETFs following similar approvals in the US and Hong Kong, Bloomberg reported.

Australia Prepares for Crypto ETFs

This year, US Bitcoin ETFs accrued an impressive $53 billion, reflecting a growing interest in cryptocurrencies among investors. Notable players like Van Eck Associates Corp. and BetaShares Holdings Pty are expected to introduce ETFs in Australia. The firms seek to capitalize on the crypto resurgence that recently pushed Bitcoin to a record high of over $70,000.

ASX, responsible for most equity trading in Australia, is reportedly evaluating applications for spot Bitcoin ETFs. Although the exchange has not confirmed the exact timeline, insiders suggest that approvals could come before the end of the year.

This move marks a significant milestone in Australia's crypto investment landscape. It could potentially create investment opportunities for institutional and retail investors. Australia's $2.3 trillion pension market is poised to play an important role in driving inflows into Bitcoin ETFs. Individual investors can diversify their portfolios because a substantial portion of retirement assets are under self-managed superannuation programs.

These self-managed funds could emerge as significant buyers of spot-crypto funds as interest in cryptocurrencies surges. Pensioners are expected to tap into the potential of digital assets as alternative investments.

Australia Renews Push for Bitcoin ETFs

While the surge in applications for Bitcoin ETFs marks a new chapter for Australia's crypto market, it is not the first time the country has attempted to launch crypto ETFs. Previous endeavors, such as Cosmos Asset Management's spot-Bitcoin ETF in 2022, experienced low uptake and were eventually delisted. However, the industry is optimistic due to the success of US Bitcoin ETFs and the evolving market dynamics.

Last year, Australia introduced a proposal to tighten regulations for cryptocurrency trading. Under the proposal, crypto exchanges operating in the country must obtain licenses from the Australian Securities and Investment Commission.

This initiative seeks to address concerns about consumer protection and the need to mitigate risks associated with the expanding crypto market. Exchanges holding assets exceeding US$ 3.2 million (AU$ 5 million) or managing funds totaling more than US$ 946 (AU$ 1,500) per individual must obtain the licenses.

This article was written by Jared Kirui at www.financemagnates.com.

Hot news: These changes have happened in the last hour.

In the last one hour Bitcoin is leading the record of among the most popular crypto-currency in the trading ecosystem, it has an decrease of -0.33% from its previous value from 6631.875 dollars now at 6609.990 dollars exchange rate. Next to Bitcoin is T..

The post Bitcoin $6609.990 – CryptoCurrency Trading Report – 24.09.2018 09:08 appeared first on CryptoCurrency Blog.

Hot news: The summaries of the last one hour are the followings:

Bitcoin is leading the rank on the most popular crypto-currency, it has an upsurge of 0.12% in its exchange rate, which means 6668.000 dollars from the 6660.008 dollars earlier. Tether is in the second position as Bitcoin leads the first spot. ..

The post Bitcoin $6668.000 – CryptoCurrency Trading Report – 24.09.2018 08:08 appeared first on CryptoCurrency Blog.

Hot news: Here we summon for you the changes of the market of CryptoCurrency from the last 60 minutes.

In the last hour, Bitcoin is leading the cryptocurrency rank. A fall in the exchange rate was seen from 6663.014 dollars to 6640.360 dollars a -0.34% change. Next to Bitcoin is Tether in the second position..

The post Bitcoin $6640.360 – CryptoCurrency Trading Report – 24.09.2018 07:08 appeared first on CryptoCurrency Blog.

Hot news: Here you can read the new CryptoCurrency report of the last 60 Minutes.

Bitcoin is leading the rank in the last hour as the most popular crypto currency in the trade market, with a recorded fall on its value of about -0.12% in the last hour with a current standing rate of 6674.850 dollars from 6682..

The post Bitcoin $6674.850 – CryptoCurrency Trading Report – 24.09.2018 06:07 appeared first on CryptoCurrency Blog.

Hot news: There were a lot of happenings in the last 60 minutes on the Crypto stock exchanges.

Bitcoin is listed as the most popular cryptocurrency in the market. In the last sixty minutes, it had an downswing of -0.19% on its trading price. This means from 6699.038 dollars now at 6686.310 dollars. Tether is..

The post Bitcoin $6686.310 – CryptoCurrency Trading Report – 24.09.2018 05:07 appeared first on CryptoCurrency Blog.

Hot news: Now we show you the newest summary of 60 minutes.

Bitcoin is now leading the rank on the most popular digital currency in the trade market. It has an decrease of -0% in its exchange rate from 6704.570 dollars now at 6704.570 dollars. Bitcoin is seconded by Tether, in a 60 minutes time it has a drop..

The post Bitcoin $6704.570 – CryptoCurrency Trading Report – 24.09.2018 04:07 appeared first on CryptoCurrency Blog.

Hot news: Here we summon for you the changes of the market of CryptoCurrency from the last 60 minutes.

Bitcoin was in the top position in the last hour, the exchange rate decreases from 6710.021 dollars to 6709.350. This is a -0.01% recorded change. Tether is at the second position next to Bitcoin, with a re..

The post Bitcoin $6709.350 – CryptoCurrency Trading Report – 24.09.2018 03:07 appeared first on CryptoCurrency Blog.

Hot news: These changes have happened in the last hour.

Bitcoin was in the top position in the last hour, the exchange rate increases from 6689.711 dollars to 6709.780. This is a 0.3% recorded change. Bitcoin is followed by Tether, with a -0.07% tumble on its trade value in the last one hour, equivalent to 0..

The post Bitcoin $6709.780 – CryptoCurrency Trading Report – 24.09.2018 02:07 appeared first on CryptoCurrency Blog.

Hot news: Here we summon for you the changes of the market of CryptoCurrency from the last 60 minutes.

The number one cryptocurrency leader is Bitcoin, this data was fetched in the last hour. It has an decrease on its trade value to -0.2%, now at 6687.450 dollars from 6700.852. Tether is at the second positi..

The post Bitcoin $6687.450 – CryptoCurrency Trading Report – 24.09.2018 01:07 appeared first on CryptoCurrency Blog.

Hot news: These are the changes of the CryptoCurrency market in the last one hour.

Bitcoin is now leading the rank on the most popular digital currency in the trade market. It has an increase of 0.05% in its exchange rate from 6689.215 dollars now at 6692.560 dollars. Tether is next to the leading crypto Bit..

The post Bitcoin $6692.560 – CryptoCurrency Trading Report – 24.09.2018 00:07 appeared first on CryptoCurrency Blog.

As a crypto analyst and frequent investor in the Greek digital currency market, I can confidently recommend Bcash for convenient and secure Bitcoin purchasing in Athens. With 10 strategically located crypto ATM hotspots spanning central Athens and the northern suburbs, Bcash enables instant access to leading cryptocurrencies like BTC, ETH, and USDT. Experience the Leading […]

The post Top 5 Bitcoin ATM Locations in Athens for Fast and Easy Crypto Access appeared first on CryptoNinjas.

Bitwise Asset Management, the largest crypto index fund manager in America, announced today that the Bitwise Bitcoin ETF (BITB), the firm’s first spot bitcoin ETF, intends to begin trading today, January 11th. BITB will join Bitwise’s comprehensive suite of 18 crypto investment products, which currently includes five other crypto ETFs. “We expect significant demand for […]

The post Bitwise launching spot bitcoin ETF (BITB) appeared first on CryptoNinjas.

It is no longer unusual to hear that a bank accepts savings in Bitcoin, Ethereum, and the like. Or that a loan company helps businesses with crypto. After all, the traditional financial and insurance industries were among the first to adopt cryptocurrencies. The latter ones have found more than one way to incorporate these means of payment […]

The post Cryptocurrency Payments for Insurance: Are Insurance Companies Really Embracing Bitcoin and Altcoins? appeared first on CryptoNinjas.

For some people, the word bitcoin still triggers an eye-roll, but by now, most of us know that cryptocurrency is here to stay. With that in mind, it’s a good idea to make sure you’re clued up and well-educated on the topic, especially if you’ve ever considered investing yourself. However, with so much misinformation floating […]

The post 4 Things We’ve Learned About Owning Bitcoin in 2023 appeared first on CryptoNinjas.

Today, Fuse Network, an enterprise-grade, use-case agnostic, decentralized EVM-compatible public blockchain, announced Liquify as its newest remote procedure call (RPC) provider and ecosystem partner. Liquify will provide public RPC services – both free and private. RPC nodes help process requests from decentralized applications (dApps). They are vital for improving the usability of web3 and for […]

The post Fuse Network welcomes Liquify as new blockchain infrastructure partner appeared first on CryptoNinjas.

Welcome to the world of BITmarkets – a leading cryptocurrency exchange offering a wide range of trading options for both retail traders and corporate clients. In this comprehensive review, we will explore the various features and services provided by BITmarkets, including spot, futures, and margin trading. Whether a seasoned trader or just starting your cryptocurrency […]

The post BITmarkets – Spot, Futures, Margin Trading with 150+ Cryptocurrencies appeared first on CryptoNinjas.

HashKey Exchange, the first licensed retail virtual asset exchange registered in Hong Kong, announced its official launch today. Together with executives from the HKSAR government, top-tier banks, insurers, and Big 4 auditing firms, HashKey held the grand launch in Hong Kong. Strictly adhering to the SFC’s user registration and KYC requirements, the HashKey Exchange platform […]

The post Hong Kong’s first licensed crypto exchange HashKey is now live appeared first on CryptoNinjas.

Adenasoft, a South Korea-based IT/software company, has just announced the launch of ACE, their new SaaS product designed for cryptocurrency exchanges. ACE fully prepares businesses for exchange operations quickly, taking less than a month to get up and running. ACE offers a comprehensive suite of features that enables crypto exchanges to streamline their operations and […]

The post Adenasoft launches new crypto exchange white label solution: ACE appeared first on CryptoNinjas.

This week, the team of Pods, a provider of structured products for crypto assets, unveiled its latest offering – the ETHphoria Vault. This innovative yield strategy is designed explicitly for ETH enthusiasts who are bullish about its future prospects and want to earn even more from increasing prices. ETHphoria is a low-risk, principal-protected strategy designed […]

The post Maximize Your ETH Investment: The ETHphoria Vault by Pods appeared first on CryptoNinjas.

The team of Pods recently announced the mainnet launch of its 3rd strategy on Pods Yield: FUD Vault, which now complements ETHphoria and stETHvv. FUD Vault provides a way for users to benefit from market downturns by offering a mechanism to hedge against significant price drops in ETH while preserving the deposited principal. Who is […]

The post Crypto traders can mitigate risk with PODS’ FUD Vault – now live on mainnet appeared first on CryptoNinjas.

DeFi Returns brings comprehensive up-to-date information on DeFi strategies and protocols, to easily compare and analyze their performance. Getting the most reliable data source for historical yield on DeFi, to help users make informed decisions when investing in the ecosystem. All data displayed is sourced from the protocol’s smart contracts directly. The new DeFi Returns […]

The post What is DeFi Returns? A new way of DeFi Investing appeared first on CryptoNinjas.

RockX, an Asia-based institutional-grade staking services provider, announced today the broadening of its staking product suite with the addition of a new ether (ETH) native staking solution. This latest offering strengthens RockX’s position as a comprehensive provider of diverse staking needs, maneuvering quickly to the evolving crypto market landscape. Navigating the Ethereum ecosystem presents institutions with […]

The post RockX broadens suite with launch of new ether (ETH) native staking solution appeared first on CryptoNinjas.

Hex Trust, a regulated institutional-grade crypto-asset custodian, today announced it has partnered with The Sandbox, a leading decentralized gaming virtual world to enable fully-licensed and highly-secure custody of assets such as LAND in The Sandbox’s metaverse. The partnership sees Hex Trust fully integrate LAND into its custody platform, Hex Safe, which supports cryptocurrencies, security tokens, and NFTs. […]

The post The Sandbox teams with Hex Trust for licensed, secure custody of its virtual assets appeared first on CryptoNinjas.

CoinFlip, a bitcoin ATM and crypto services company, announced today a new offering with the launch of ‘Olliv,’ a self-custody-powered crypto platform. The Olliv platform provides a frictionless way to buy, sell, send, receive, and swap cryptocurrency securely stored on a self-custodial wallet, removing the uncertainty of unknown third-party custodians. By leveraging CoinFlip’s existing network […]

The post CoinFlip launches new self-custodial cryptocurrency wallet platform ‘Olliv’ appeared first on CryptoNinjas.

Deribit, a popular cryptocurrency derivatives platform, has announced the launch of zero-fee spot trading, allowing clients to buy and sell crypto while simultaneously managing risk using other derivatives. Spot trading will start on April, 24th 2023 at 1 PM UTC with three pairs (BTC/USDC, ETH/USDC, and ETH/BTC), providing clients with a simple and free solution […]

The post Crypto derivatives exchange Deribit to launch zero-fee spot trading appeared first on CryptoNinjas.

Japan-based banking giant Nomura, announced today that its digital assets subsidiary, Laser Digital, has made a strategic investment in Infinity, a non-custodial interest rate protocol built on Ethereum. Infinity’s wholesale exchange, the first of several planned infrastructures, provides inter-exchange clearing, fixed and floating rate markets, as well as enterprise-grade risk management utilizing hybrid on-chain/off-chain infrastructures […]

The post Nomura’s Laser Digital invests in Infinity, an Ethereum-based money market protocol appeared first on CryptoNinjas.

Blocknative, a real-time Ethereum (ETH) infrastructure platform, has newly introduced features including transaction bundle send, cancellation, and replacement support for the Blocknative Builder. Searchers can now submit MEV bundles privately to the Blocknative Builder to be included on-chain. This market utility builds upon Blocknative’s reliable, real-time infrastructure that is systematically important to the Ethereum ecosystem. […]

The post ETH infrastructure platform Blocknative adds TX bundles, cancellation, and replacement support appeared first on CryptoNinjas.

Eventus, a provider of multi-asset class trade surveillance and market risk solutions, announced today that cryptocurrency derivatives exchange Deribit has chosen the firm’s Validus platform to provide market abuse monitoring on the exchange. Headquartered in Panama City, Panama, Deribit is one of the largest cryptocurrency options exchanges by volume and open interest, with approximately 90% […]

The post Crypto derivatives exchange Deribit to put in place trade surveillance platform from Eventus appeared first on CryptoNinjas.

Gemini, the popular bitcoin & crypto exchange company, today announced the launch of electronic over-the-counter trading (eOTC), an automated crypto trading solution designed for institutions. The Gemini eOTC solution offers a variety of advantages to institutional traders including: Competitive Pricing & Execution: Liquidity is sourced from top-tier liquidity providers with deep liquidity pools, enabling counterparties […]

The post Crypto exchange Gemini launches new electronic OTC trading solution appeared first on CryptoNinjas.

GenTwo Digital, the crypto-asset securitization platform based out of Crypto Valley in Zug, Switzerland, today announced a partnership with Coinbase, the publicly-listed cryptocurrency platform. This new partnership for GenTwo Digital allows all Coinbase crypto assets to be wrapped in bankable financial investment products and enables financial intermediaries to issue certificates such AMCs (Actively Management Certificates). […]

The post Crypto securitization platform GenTwo links to all Coinbase assets appeared first on CryptoNinjas.

ThunderCore, a leading blockchain & web3 ecosystem announced today that they are making a new development push, partnering with new validators as the chain rolls out its new crypto staking model. The newest ThunderCore validators include the famous crypto-asset exchange Huobi and one of the earliest staking platforms in the space, MyCointainer. Users of both […]

The post Blockchain ecosystem ThunderCore teams with Huobi and MyCointainer in node expansion appeared first on CryptoNinjas.

Pods, creators of a DeFi platform, announced today that earlier this year, the team raised $5.6M in seed funding to create structured products for crypto-assets. The financing featured investors such as IOSG, Tomahawk, Republic, Framework Ventures, and more. The first strategy on Pods Yield is stETHvv (Ethereum Volatility Vault). stETHvv is a low-risk product focused […]

The post DeFi protocol Pods raises $5.6M to support its structured crypto products dApp appeared first on CryptoNinjas.

Deribit, the popular cryptocurrency derivatives exchange, announced today it has launched a new ‘Proof of Reserves‘ tool for clients using the trading platform. Now, clients are provided with the functionality to verify their assets to be included in Deribit’s overall reserves. How it Works Deribit provides all addresses for all on-chain assets and it delivers […]

The post Crypto derivatives exchange Deribit releases new client verification of assets tool appeared first on CryptoNinjas.

Tenderly, creators of a blockchain development platform, today announced that it is the first web3 development platform to offer simulations through RPC on its Tenderly Web3 Gateway, the company’s production node as a service. Note, Tenderly already processes more than 50 million simulations per month through its Transaction Simulator. Now, the company is introducing the […]

The post Tenderly introduces TXN simulations on its blockchain gateway for efficient dApp development appeared first on CryptoNinjas.

DFINITY Foundation, the not-for-profit organization contributing to the development of the Internet Computer (IC) — a high-speed, internet-scale public blockchain — has announced today the Internet Computer’s mainnet integration with Bitcoin, bringing smart contract functionality to the cryptocurrency. Now, the Internet Computer can serve as a layer-2 for Bitcoin where smart contracts on the Internet […]

The post DFINITY brings new smart contract functionality to Bitcoin with Internet Computer integration appeared first on CryptoNinjas.

The blockchain analytics firm will provide tools to spot sanctioned and illicit activity and provide market information.

According to Senators Elizabeth Warren and Angus King, the Iranian government has used funds from crypto mining to fund terrorist organizations.

The Atomicals protocol provides a transparent, secure record of ownership and history for Bitcoin NFTs.

Representatives Mike Flood and Wiley Nickel urged the SEC's chair Gary Gensler to stop discriminating against Bitcoin funds in a letter.

Need to know what happened in crypto today? Here is the latest news on daily trends and events impacting Bitcoin price, blockchain, DeFi, NFTs, Web3 and crypto regulation.

Bitcoin price shows signs of a recovery, but analysts are uncertain whether the strongest part of the correction has passed.

The Telegram-TON hookup opens up a broad spectrum of Web3 opportunities for Telegram’s 900 million monthly users, Pantera Capital said.

Mr. 100, an entity previously identified as Upbit, has bought over $147 million worth of Bitcoin for the first time since the halving, suggesting an end to the current retracement.

A judge in Nigeria reportedly adjourned proceedings in a case against Binance and two executives until May 17 to allow lawyers to review certain documents.

Deep fake nudes to be outlawed in UK and Australia, pick up artists fake big live stream audiences to meet women, plus more news: AI Eye.

Bitcoin bulls see signs of the worst being over as a BTC price bounce gathers pace toward $60,000.

Binance has exchanged a diversified $1 billion crypto portfolio in SAFU funds into USD Coin.

Today, the price of Solana has risen, propelled by a series of positive announcements related to the network and the Fed's decision to forego rate hikes in 2024.

Stronghold announced its first quarter results for 2024 and revealed that it is considering a range of options to increase shareholder value including selling the business.

MoonPay users in the U.S. can now buy and sell 110 different cryptocurrencies using PayPal transfers via wallet, bank transfers or debit cards.

The growing interest in Runes and Bitcoin DeFi will drive more activity to layer-2 networks, according to Stacks’ product manager.

Making the token nontransferable could force users to pay the 1.5% Friend.tech platform fee in an “ironic” shift from the platform’s non-venture capitalist approach.

Shorting Bitcoin on Binance and Coinbase is akin to a high-stakes gamble where mastering margin trading and futures contracts is key to tilting the odds in your favor.

The hacker holds about $4.3 million in various crypto assets in their Ethereum wallet.

The Bitcoin halving is widely expected to have a positive impact on the price of the preeminent cryptocurrency, but analysts expect volatile price consolidation in the short term.

Despite the excitement around the Hong Kong ETF debut, the inflows are only a fraction of the outflows from U.S. ETFs. Could the Bitcoin price revisit the $50,000 mark next?

In a statement, Microsoft said it will collaborate with the Malaysian government to establish a “national AI Center of Excellence” and improve cybersecurity capabilities.

The law enforcement agency managed to track the funds linked to the E-Nugget scam app to different crypto exchanges and, with their help, seized over $10.5 million in crypto assets.

LayerZero’s ZRO perpetual futures contract is trading at $8.6 on Hyperliquid, the world’s largest perps DEX, suggesting a potential $17 billion fully diluted valuation.

BTC price action spooks ETF investors, data shows, but there is reason to believe that Bitcoin is seeing a broadly healthy correction.

Bitfarms is actively working to triple its current hash rate capacity to 21 exahashes per second with a $240 million investment.

The FBI arrested a New York resident for defrauding investors of at least $43 million in a multi-year Ponzi scheme that included a Las Vegas hospitality business and crypto trading operation.

Pike highlighted that the exploit occurred due to their team’s inadequate integration of third-party technologies such as the CCTP or Gelato Network’s automation services.

Patricia came under scrutiny following a hacking incident in May 2023, which led to a significant loss of customer funds.

Arkansas Governor Sarah Huckabee Sanders is expected to sign the bills into law, which will regulate miners’ noise, water use and licensing.

As Bitcoin slumps, on-chain data by Ki Young Ju, the founder of the blockchain analytics platform CryptoQuant, paints a stark picture: all new whales, including holders of spot exchange-traded funds (ETFs), are now underwater.  New Whales And Spot ETF Investors Are In Red Taking to X, Ju said that more losses would be incoming, predicting that HODLers will find “max pain” at around $51,000. The dip is less than $10,000 from spot rates, suggesting that although there are cracks, the correction might not be deep. Related Reading: Whales Dive In, But Dogecoin Price Sinks 20%: What’s Going On? This overview is welcomed, considering the recent sell-off. Even so, predicting price bottoms in a fast-moving market influenced by multiple forces is tough. As price action stands, Ju says believers may take the opportunity to double down on the coin. The founder adds that the current price discount presents an opportunity for savvy investors to outperform traditional finance whales, including institutions with BTC exposure via spot ETFs in the United States.  Bitcoin is under immense liquidation pressure at the time of this writing. Though bulls soaked up the sell-off earlier today, the coin remains within a bearish breakout. Prices are trading below the support zone of between $60,000 and $61,000 and below April 2024. Inflow To Spot Bitcoin ETFs Decline As Sentiment Deteriorate This formation suggests that though bulls are optimistic, the path of least resistance remains southwards for now. BTC dropped after posting impressive returns from October 2023 to March 2024, when prices peaked. Some analysts think the current cool-off is inevitable following sharp gains in the last six months. The fact that whales are underwater was unexpected, considering the state of affairs in the last week of April. Then, the inflow from new whales nearly doubled the cumulative holdings of older whales. Analysts said this influx of fresh capital pointed to growing institutional interest. However, looking at the current price action, new whales are now in the red territory, and their excitement seems to wane.  Related Reading: Bitcoin Bull Run Over? Analyst Predicts What To Expect Now According to Lookonchain data, inflow into the eight-spot Bitcoin ETFs, including BlackRock, has stalled. On May 1, all issuers, including Grayscale via GBTC, decreased by 1,950 BTC. Of note is that BlackRock’s IBIT has not seen inflows for five straight days. Still, confidence abounds. Inflows into spot Bitcoin ETFs are highly influenced by sentiment, which rests on how prices perform. If BTC shakes off the current weakness and tears higher in the expected post-Halving rally, spot ETF issuers will begin receiving new inflows.  Feature image from DALLE, chart from TradingView

The Bitcoin price continues to trend below $60,000 as a 20% decline triggered a brutal market-wide crash. This has exposed multiple critical support points for the cryptocurrency, some of which the price has already fallen below. In light of this, a crypto analyst known as Norok has revealed the level the BTC price must not fall below to maintain its bullish trend. Bitcoin Price Must Hold Above $51,800 In an analysis posted on the TradingView website, crypto analyst Norok revealed that $51,800 is now the most important support level for Bitcoin. Norok pointed out that Bitcoin has since returned to its last support level which was last seen in December 2023, making this a crucial support. In the meantime, the support that had been built up by bulls at the $62,000 level has since been broken by bears and has now been turned into resistance. Nevertheless, the crypto analyst does not believe that the Bitcoin price has turned bearish, despite the crash that has rocked the crypto market. For Norok to turn bearish, he stated that the BTC price would have to break down below support at $51,800. According to him, such a move will invalidate whatever bullish thesis is in play for Bitcoin, ending the bullish trend of 2023-2024. Source: TradingView.com In the short term, Norok identifies $56,900 as a level that bulls must hold. He explains that this could help to reinforce the current bullish trend. “Price must hold here at this Support and then it can recapture the cloud to resume to Bullish Trend,” the crypto analyst said. “This is a highly decisive moment in Price action today.” BTC Suffers As A Result Of ETF Outflows One major driver of the Bitcoin price decline in the last few weeks has been a turn from inflows to outflows in Spot Bitcoin ETFs. Since these ETFs require the issuers to hold BTC to support the assets they are selling to investors, inflows are incredibly bullish as these issuers have taken to buying BTC to fulfill this requirement. However, with investors beginning to withdraw their funds, the reverse has been the case, leading to a high selling pressure in the market. Spot Bitcoin ETFs have now recorded six consecutive trading days of outflows, reaching an all-time high outflow record $563.7 million on Wednesday, according to data from Coinglass. Source: Coinglass If these outflows continue, then the BTC price could continue to decline, and at the current rate, the pioneer cryptocurrency might be testing Norok’s $51,800 soon enough. However, a turn toward inflows would mean issuers have to buy BTC and this can translate to a price recover. BTC price pushes to $59,000 | Source: BTCUSD on Tradingview.com Featured image from Kiplinger, chart from Tradingview.com

An analyst has explained how the “fair value” of Bitcoin appears to be on track to achieve the $1 million milestone by 2035. Bitcoin Total User Count Could Forecast Fair Value Path Forward In a new post on X, analyst Willy Woo has discussed about how the fair value of Bitcoin could look like in the future based on the growth curve in the total user count on the network. Related Reading: Bitcoin Greed No More: Sentiment Back At Neutral After $57,000 Plunge The “total user count” here refers to the total number of investors present in the BTC space. Often, this metric is equated with the total number of addresses on the network carrying a balance, but in reality, it’s not the most accurate method as a lot of investors own multiple wallets. To make an estimation of an adoption curve, Woo has referred to all past studies done on the user count. The analyst shared the below chart in an X post a few days back. The adoption curve of the cryptocurrency over its entire history | Source: @woonomic on X The early part of the chart here is based on Glassnode’s on-chain clustering of addresses into “entities.” An entity is a collection of Bitcoin wallets that Glassnode has determined to belong to the same investor. For the next part of the curve, Woo has added the Cambridge and Crypto.com data on verified exchange users. Finally, the analyst has projected the resulting growth rate forward. According to this curve, there are a total of 426 million Bitcoin investors at the moment, with the number estimated to hit the 0.5 billion milestone by October of this year. Interestingly, the price of the cryptocurrency has been oscillating around this total user count growth curve throughout the years, as the below chart depicts. The adoption curve of the asset compared against its price action | Source: @woonomic on X More specifically, this oscillation in the price around the adoption curve of the cryptocurrency has existed since 2012. This means that in the pre-2012 period (the shaded region in the graph), this pattern doesn’t quite hold. “In the early days price was slow to catch up to user count, BTC didn’t even have a price until the 1000th user came in,” notes Woo. “Price discovery started with early markets like New Liberty Standard and MtGox. By Aug 2011 Bitstamp launched and we had multiple global exchanges to properly price the asset.” Now, if the growth curve of Bitcoin is taken as a guide for its future value as well, then the analyst projects a $1 million per BTC fair value by the year 2035. “Fair value” here is based on the line around which the asset has been oscillating. Related Reading: Crypto Analyst Predicts 244% Shiba Inu Rally Based On Bull Flag From the chart, it’s visible that BTC has historically gained distance over this line during bull markets, so the peak value in future rallies can be significantly more than this fair value. It now remains to be seen how the price of the cryptocurrency will develop in the coming years and whether this relationship between it and the total user count will continue to hold or not. BTC Price Bitcoin has observed a plunge of more than 8% over the past week, which has brought its price down to $58,600. Looks like the price of the coin has registered a sharp drop recently | Source: BTCUSD on TradingView Featured image from iStock.com, chart from TradingView.com

Cryptocurrency analyst Rekt Capital has come up with an intriguing narrative pointing to several trends in the current price action of Bitcoin that are similar to the price trends seen in the 2016 bull cycle, even as market sentiments continue to dwindle.  Bitcoin Trends Reiterating 2016 Pattern According to Rekt Capital, more than a month after the initial analysis, Bitcoin keeps demonstrating how much it closely resembles the cycle of 2016. Similar to 2016, Bitcoin has experienced further declines over the past three weeks following the Halving below the Range Low of its Re-Accumulation Range also known as the Post-Halving Danger Zone The post read: Over a month later Bitcoin continues to prove how it is more similar to the 2016 cycle. Just like in 2016, Bitcoin in this cycle is seeing additional downside below the Range Low of its Re-Accumulation Range in the three-week window after the Halving (i.e. Post-Halving “Danger Zone”). Given that Rekt Capital already addressed the concept of the Post-Halving Danger Zone, the analyst is not shocked by this current price decrease. During the 2016 cycle, about 21 days after the Halving event, BTC saw a lengthy decline of 11% before transitioning toward an upward direction. It is worth noting that Rekt Capital noted that if downside volatility around the Re-Accumulation Range Low is going to happen in this cycle, 2016 history indicates it may happen during the 15 days following the Halving. Since the recent event was concluded about 12 days ago, the expert’s prediction could be realized in the upcoming days. Related Reading: Bitcoin Enters ‘Danger Zone’ Post-Halving, Analyst Warns Of Potential Downside While the Post-Halving “Danger Zone” ends in 15 days, 2016 data suggests that there may be some negative volatility in the interim, possibly reaching the $60600 Range Low. Drawing attention to previous patterns, Rekt Capital highlighted a similar pattern between the 2016 and 2024 pre-Halving re-accumulation range. After a breakout from the re-accumulation range this year, BTC witnessed a Pre-Halving rally, as was observed in 2016. Pre-Halving Retrace Movement Just like in 2016, once the pre-Halving rally peaked, Bitcoin started its Pre-Halving retrace. Specifically, this occurred roughly 28 days prior to the Halving event in both 2016 and 2024. Related Reading: Analyst Warns Of Bitcoin Pre-Halving Retrace Echoing Troubling 2020 Trend A negative wick on the weekly candle indicates a significant reaction in the first week of the pre-Halving Retrace in 2016. However, this reaction was fleeting and came before an extended price decline. This cycle likewise saw a strong early reaction from Bitcoin via a downward wick, but there are indications that this reaction might not have lasted long. Thus, to avoid a fate similar to that of 2016, Rekt Capital believes that BTC will need to maintain highs around $60,000 and beyond. Featured image from iStock, chart from Tradingview.com

On-chain data recently showed that Ripple carried out its monthly escrow unlock for May. As expected, this has raised concerns about how it could affect the XRP price, especially since Ripple has been accused of manipulating the token’s price.  Ripple Unlocks 500 Million XRP Tokens Onchain data revealed 500 million XRP tokens were unlocked from Ripple’s escrow on May 1. The crypto firm is known to unlock 1 billion tokens monthly, although it looks to have only unlocked half this time around. The magnitude of these tokens always raises concerns, considering the negative impact they could have on the altcoin’s price if dumped on the market.  Further analysis of the on-chain data shows that Ripple sent 300 million XRP out of the unlocked tokens to an escrowed account (2Not4co2op). Meanwhile, the crypto firm sent the remaining 200 million XRP tokens to another wallet (4vt5x1o91m). Considering that the 200 million XRP tokens weren’t sent to escrow, Ripple may have plans to sell them at some point, although it has yet to do so.  It is also worth mentioning that Ripple received another 500 million XRP tokens from an unknown wallet (ymFZmKxEsF). However, these funds were immediately sent to an escrow account. As such, the community can heave a sigh of relief since most of the XRP tokens Ripple received in the last 24 hours have been sent back to escrow.  Talks About Ripple Dumping On The Market Resurface Following the latest token unlock, the crypto community has reignited talks about Ripple’s alleged dumping on XRP holders. The question of whether or not Ripple’s XRP sales influence the token’s price has been a long-standing discussion, with notable figures like pro-XRP crypto YouTuber Jerry Hall even accusing Ripple of intentionally suppressing the altcoin’s price with its sales.  On the other hand, people like Ripple’s Chief Technology Officer (CTO) have clarified that the crypto firm’s XRP sales do not impact the crypto token’s price. Moreover, Ripple already discontinued programmatic sales, which means that its transactions cannot affect prices on crypto exchanges.  Ripple also noted in its recent court filing in its ongoing legal battle against the Securities and Exchange Commission (SEC) that it had taken measures to ensure its institutional sales did not violate securities laws. This suggests that Ripple conducts its sales over the counter (OTC) to avoid further scrutiny from the Commission.  At the time of writing, the token is trading at around $0.5, up over 2% in the last 24 hours according to data from CoinMarketCap.  Price rises above $0.51 | Source: XRPUSDT on Tradingview.com Featured image from The Motley Fool, chart from Tradingview.com

An analyst explained how Shiba Inu could be heading towards a massive rally based on a bull flag pattern that forms in its daily chart. Shiba Inu Has Been Consolidating Inside A Bull Flag Recently In a new post on X, analyst Ali has discussed about a bull flag that has recently appeared in the daily price of Shiba Inu. The bull flag is a pattern in technical analysis (TA) that, as its name suggests, is shaped like a flag on a pole. The pattern forms when an uptrend is followed by a period of consolidation inside a parallel channel toward the downward direction. The starting uptrend makes up for the pole, while the channel acts as the flag. Related Reading: Bitcoin Greed No More: Sentiment Back At Neutral After $57,000 Plunge Like other TA patterns, the consolidation channel or flag here comprises two parallel lines. The upper level connects the price tops, while the lower one joins the bottoms. When the asset retests either of these levels, it’s probable to undergo a reversal, with the upper line of the channel acting as a point of resistance and the lower one as support. A break above the resistance line is considered a bullish signal for the price. The uptrend resulting from such a break may be the same length as the flag’s pole. On the other hand, a drop below the flag (that is, a breakdown of support) invalidates the formation and may even suggest the takeover of bearish momentum for the asset. Similar to the bull flag, there is also the bear flag in TA, which works much in the same way, except that it occurs during a downtrend (with the flag signifying consolidation towards the upside following a downward pole). Now, here is the chart shared by Ali that shows the bull flag pattern Shiba Inu has potentially been forming on its daily price recently: The formation that the memecoin's price has been displaying during the last few weeks | Source: @ali_charts on X From the graph, it’s clear that the Shiba Inu 1-day price has been consolidating inside what appears to be a bull flag pattern channel in the past few weeks. “I’m placing buy orders around $0.000018343, aiming for a bullish breakout that sends $SHIB to $0.000072323,” says the analyst. The former level is about where SHIB should meet the flag’s support next if it continues in its current trajectory, while the latter target is based on the height of the pole. Related Reading: Bitcoin To $92,190: Crypto Analyst Reveals Path To ATH Target A run to the bullish target of $0.000072323 would imply a rally of more than 244% from the current spot price of the cryptocurrency, while from the lower support of $0.000018343, any such surge would correspond to a growth of over 294%. It remains to be seen whether Shiba Inu will show a break above this bull flag pattern and, if it does, whether the price will benefit from bullish effects. SHIB Price At the time of writing, Shiba Inu is trading around $0.00002110, down more than 18% over the past week. Looks like the price of the coin has been heading down over the last few days | Source: SHIBUSD on TradingView Featured image from Traxer on Unsplash.com, charts from TradingView.com

Dogecoin (DOGE), the Shiba Inu-faced darling of the 2021 memecoin frenzy, has found itself shivering in the current crypto winter. Once a symbol of retail investor exuberance, DOGE has plummeted over 70% from its sky-high peak, leaving its future shrouded in uncertainty. Related Reading: Bitcoin Slide Over? Top Analysts Unanimously Call $56,000 The Bottom DOGE Feels The Crypto Frost While Bitcoin, the heavyweight champion of the crypto world, grabs headlines with its recent wobble, the impact on memecoins like DOGE has been brutal. Unlike Bitcoin’s divided analyst opinions, the sentiment surrounding DOGE is decidedly bearish. At the time of writing, the memecoin was trading at $0.132, down 5.4% up the last 24 hours but sustained a 20% loss in the last seven days, data from Coingecko shows. Dogecoin price action in the last 30 days. Source: Coingecko Is DOGE A Canary In The Crypto Coal Mine? Some analysts believe DOGE’s struggles are a canary in the coal mine for the entire crypto market. They said if even a historically high-flying memecoin like Dogecoin can’t hold onto gains, it raises serious concerns about risk appetite in the crypto space in general. Dogecoin market cap currently at $18 billion. Chart: TradingView.com Whales Accumulating DOGE: A Glimmer Of Hope? However, a glimmer of hope flickers for the dethroned meme king. On-chain data suggests an increase in large wallet purchases of DOGE, hinting at potential accumulation by wealthy investors. This “contrarian” behavior could be a sign that some whales are using Coinglass or similar platforms to track Dogecoin derivatives and believe the coin is undervalued and ripe for a comeback. Source: Coinglass Coinglass, a popular cryptocurrency data provider, offers insights into factors that might be influencing the whales’ decisions. By analyzing metrics like open interest, funding rates, and liquidations on Coinglass, these investors might see an opportunity to buy DOGE at a discount. Related Reading: Solana Crawls: Network Update Fails To Fix Traffic Jam, Price Feels The Pinch In a similar development, Whale Alert, a well-known blockchain tracker, has reported that a DOGE whale arranged two large transactions in a single day. Some 150,000,000 Dogecoins were transferred in the first transaction, and an additional 76,316,694 DOGE were transferred in the second, for a total of almost 226 million DOGE. At the time, the meme cryptocurrency was worth around $40 million in fiat money. 🚨 150,000,000 #DOGE (21,281,922 USD) transferred from #Robinhood to unknown wallethttps://t.co/7U1CEfr2ZT — Whale Alert (@whale_alert) April 29, 2024 Can Dogecoin Thaw The Crypto Winter? The coming weeks will be critical for DOGE. The return of positive social media sentiment, coupled with continued accumulation by whales who might be strategically using Coinglass for market analysis, could be the spark that reignites the DOGE rally. However, if the broader market weakness persists, DOGE’s summer might be spent shivering in the doghouse. Featured image from Pixabay, chart from TradingView

Coinbase won approval to offer cryptocurrency derivative trading to U.S. retail customers, fueling much hope and momentum to the $2.1 trillion cryptocurrency derivative market.  Coinbase’s approval arrived following a significant decline in derivative trading volume due to economic uncertainties, regulatory struggles, and a reduction in risk from high wealth accounts and retail traders.  Derivative trading, such as futures, options, and others, has dominated the cryptocurrency market since 2014 as investors snap at the opportunity to place bets with little investment for a higher percentage return. A large percentage of the derivative market is influenced by retail traders, fueled by manic meme-stock trading and social media trends on platforms such as X, YouTube and Reddit. Although heavily favoured by institutional investors, who have maintained a fair, open position in the derivative market, Bitcoin exchange-traded funds (ETFs) make up a large share of traded assets.  Futures and options trading have had a fair share in the derivative market, but the recent dominance of copy trading is often cited as a key reason for the high volume of the derivative market over the past few months. Copy trading is slowly evolving into a big tool for retail traders looking to explore the derivative market, as many of these traders favour automated trading over spot or manual trading.   The data from Margex highlights much attention shifting to copy trading as a new strategy for retail traders looking to increase their profitability while leveraging an experienced trader to produce great profit returns with a profit share automated for both the user and pro trader.  Copy Trading And Gen Z Influence On The Derivative Market Copy trading involves users replicating the trading strategies of expert traders. This method allows users to diversify their portfolios, minimize risk, and increase their profitability in the financial market while trades are executed automatically and instantly.  The idea of copy trading is to enable users to benefit from the knowledge and skills of well-experienced traders. The users work to enhance their trading outcomes or build better trading or investment skills.  Research has shown that 44% of traders are copy traders, signifying an extreme surge of copy trading solutions in the last few years and is greatly influenced by the social age experiencing exponential growth as web3 technologies evolve.  Social media and Generation Z users (GEN Z) have amplified the popularity of trading strategies like copy trading through investment threads on X, Reddit, and even YouTube channels, with over 500,000 community individuals actively participating in such financial market discussions.  Through social media and online communities, young users have seen a high demand for copy trading as their interest grows through the consumption of financial information. This shows the social aspect significantly influences the adoption of copy trading.  By leveraging on the power of online communities and social aspects of trading, copy trading eliminates the rigorous learning phase of analyzing trades for retailers, simplifies trading processes and improves strategies to remain profitable.  Copy Trading A Community Building Tool  Investors and retail traders have a long history of following the leader or forecaster of the financial market, be it for short-term, medium-term, or long-term portfolio moves. Copy trading has long existed, with many sharing trade ideas or mimicking the trades of experienced traders such as Warren Buffet.  These patterns in the past among retailers are seen in the present generation as many retailers or users follow well-experienced traders to replicate their open positions.  With more retail traders adopting copy trading, it remains a dominant strategy in the derivative market compared to the spot market. Over 91% of futures trading participants are actively involved in copy trading while recording over 92% of profit returns.  According to CCData, the growth of the cryptocurrency derivative market has been influenced by retail traders’ demand for more innovative trading strategies, such as automation tools (copy trading) and AI algorithms, to enhance their trading approach. Many centralized exchanges recorded a new peak of $2.3 trillion in the derivative market.  CCData has shown much adoption in the derivative market as compared with spot trading. A large community of retail traders is approaching copy trading to earn a great profit on their investment. Over the past few years, the copy trading community have earned a profit margin of over 74 million USDT, reflecting increased engagement and the copy-trading method by retailers in the derivative market.  Many crypto trading platforms have adopted copy trading to fill the needs of retail traders looking for improved and robust trading methods to boost profitability. Margex, a copy trading platform, remains at the top of the list of copy trading platforms for these users.  Margex A Next-Gen Copy Trading Platform Margex is a next-gen copy trading platform built to help its users recreate success by mirroring the trades of experienced traders in the crypto industry on its intuitive platform.  Margex’s adaptation to better copy trading strategies that many exchanges lack has been a big boost for many retailers. This will address the high demand of users looking for automated approaches to enhance trading results while diversifying their portfolios to maximize profitability. To demonstrate its seriousness about providing the best services to users, Margex has spent over $3 million to build its copy trading platform with keen attention to usability. It also has a zero-fee converter that enables users to swap tokens easily, and a more ultra-modern wallet will soon be introduced for users to manage assets within a secure platform.  Follow this three simple step guide on participating in the Margex copy trading platform and replicating the trades of more experienced crypto traders.  1 Create An Account With Margex  Creating an account with Margex guarantees you the best copy trading experience as it is out to protect the interest of its copy trading users and provides a diverse range of skillful traders you wish to copy their trades.  2 Select Your Traders  Once logged in, navigate to the copy trading page to explore the copy trading leaderboard to select top-performing traders over time. Evaluate its performance metrics, such as followers, traders’ equity, return on equity (ROE), and strategies that align with your risk appetite and investment plans.   3 Allocate Funds  After choosing a trader to follow and confirming your strategy, allocate some funds to replicate their trades. Margex platform mirrors all trades automatically and in real-time.  As low as $10 is the minimum amount Margex requires to participate in copy trading strategies. 

The recent plummet in Bitcoin’s value below the $60,000 mark has sparked widespread speculation within the crypto community, raising questions among investors and market watchers about the future direction of its price. Marco Johanning, a well-known crypto analyst and founder of The Summit Club, took to X (formerly Twitter) to provide his insights on the current market conditions and what might be expected next. According to Johanning, the recent price action does not signify a market downturn but rather a correction within an ongoing bull market. He emphasizes, “Bitcoin lost the range. What now? First and foremost, a reminder: we are in a bull market, and this is a correction. This is not a rally in a bear market. Or in other words, the high time frame trend is up no matter what.” He supported this assertion with several indicators of a continued bullish trend. First, Bitcoin reached its bear market bottom in November 2022 and subsequently broke above the 200-day moving average, a critical indicator of long-term market trends. Following a drop below the 200-day moving average, there was a significant breakout above this level and THE major high time frame resistance in October 2023. Related Reading: Bitcoin Price Dips Below $57,000: 4 Key Reasons Moreover, Bitcoin achieved a new all-time high in March 2024. Over the last 18 months, Bitcoin has consistently recorded higher highs and higher lows, which are typical characteristics of a bullish market. “This can’t be a bear market,” Johanning explained. “These elements underscore a fundamental bias crucial for assuming that the current drop is part of a broader bull market trend. Therefore, Bitcoin will eventually find a local bottom and ascend higher.” Bitcoin Price Analysis: What To Expect Next? Johanning provided a detailed breakdown of possible future scenarios based on technical analysis. His first scenario is based on the monthly chart where the most crucial level is at $48,000-$49,000. This level is key because it was a major hurdle overcome in February 2024. Now, it might serve as the perfect point for a bullish retest. Furthermore, there’s a significant market imbalance down to the $48,000-$49,000 range, coinciding with the 0.5 Fibonacci retracement level from the last monthly swing low. This setup suggests a strong potential for price stabilization and reversal at this level, according to Johanning. The second scenario grounds on the weekly chart where the important level is at $52,000. This level acts as a major high time frame support/resistance, marked by a weekly imbalance that extends up to $52,000, and it matches the 0.382 Fibonacci retracement from the bottom to the top of the last major rally, and the 0.618 level from the last swing low to the top. The third scenario is based on the lower timeframes. Here, the most significant level is at $57,000. This mark is critical as it represents the 0.5 Fibonacci level from the last swing low and was a key area during the February climb. This level might serve as the stage for a potential deviation or price trap. “The recent bearish engulfing pattern breaking the monthly levels, followed by a bearish retest, signals significant market shifts,” noted Johanning. “If Bitcoin swiftly reclaims these key levels, particularly the $57,000 mark, we could see a deviation scenario unfold. Otherwise, the $52,000 or $48,000-$49,000 levels will likely be tested, each representing a higher low in the ongoing uptrend.” Related Reading: Bitcoin Is Fine As Long As It Holds Above $49,000: Analyst Impact on Altcoins And Market Strategy Altcoins have displayed remarkable resilience in the face of Bitcoin’s volatility, which Johanning finds particularly promising. “Usually, a significant drop in Bitcoin accompanied by a loss of a higher time frame range would lead to severe declines in altcoins. However, their strength yesterday is a good indicator that the worst may be over for altcoins,” he commented. Johanning concluded his analysis with an optimistic outlook for both Bitcoin and altcoins, expressing confidence in the continuation of the bull market. He is actively accumulating more at current prices, anticipating substantial returns: “No matter which scenario plays out, I am committed to this trend until proven otherwise. I’m investing heavily, and if we truly remain in a bull market, the potential for profit is tremendous.” At press time, BTC traded at $58,328. Featured image created with DALL·E, chart from TradingView.com

Bitcoin (BTC) has been battered by a relentless bear market over the past month, with its price tumbling 20% from its record highs. However, amidst the carnage, glimmers of hope emerge as prominent analysts predict a potential bottom forming around the current $57,000 mark. Related Reading: Solana Crawls: Network Update Fails To Fix Traffic Jam, Price Feels The Pinch Tough Opening Month For Bitcoin The start of May has not been kind to Bitcoin. The once-dominant cryptocurrency has seen a steady decline, plunging back to levels last witnessed in March before its monumental surge to $73,700. This recent price drop represents the most significant decline of this cycle, raising concerns about a prolonged bear market. The pain extends beyond Bitcoin, with the broader altcoin market feeling the tremors. Litecoin (LTC), the silver to Bitcoin’s gold, has mirrored the downward trend, shedding a staggering 25% of its value in the past month. While historically seen as a more stable alternative to Bitcoin, Litecoin seems to be tethered to its big brother’s fate in this current downturn. Finding The Bottom: Bullish Predictions Surface Despite the prevailing gloom, a chorus of optimism is rising from the crypto analysis community. Several heavyweight analysts believe Bitcoin may have found its footing around the current price range of $56,000 to $58,000. Rekt Capital, a popular crypto analyst, emphasizes a historical pattern where similar 20% dips have been followed by significant rebounds. Michaël van de Poppe, another well-respected voice, echoes this sentiment, suggesting Bitcoin may be nearing the end of its price consolidation phase. He cautions of potential short-term fluctuations but highlights the $56,000 to $58,000 zone as a crucial support level. #BTC This is officially the deepest retrace in the cycle (-23.6%)$BTC #BitcoinHalving #Bitcoin pic.twitter.com/Gcapbl0Nu6 — Rekt Capital (@rektcapital) May 1, 2024 Uncertainty Looms As Market Awaits Fed Decision While analyst optimism is a welcome sign, a cloud of uncertainty hangs over the crypto market. The upcoming Federal Reserve decision on interest rates could significantly impact investor sentiment and, consequently, Bitcoin’s price trajectory. A more hawkish stance from the Fed could trigger further selling, while a dovish approach might provide the tailwind needed for a Bitcoin rebound. Related Reading: Ethereum Fees Dive: Will This Spark A Surge In Network Activity? Buckle Up For A Bumpy Ride The next few weeks will be crucial for Bitcoin and the broader cryptocurrency market. The Federal Reserve’s decision and investor reaction to the current price slump will likely dictate the short-term direction. While bullish sentiment suggests a potential reversal, the inherent volatility of the crypto market means investors should brace for a bumpy ride. Bitcoin market cap currently at $1.13 trillion. Chart: TradingView.com Featured image from Pixabay, chart from TradingView

The layer-two initiative known as BOB, short for ‘Build on Bitcoin,’ has declared its mainnet operational with over 40 apps launching in the initial phase. Notably, the BOB application that facilitates bridging and access to the ecosystem is geo-blocked in the United States. BOB Mainnet Activates, Project Expects a ‘Bitcoin-Driven Defi Summer’ On May 1, […]

On Thursday, Zksnacks, the developer behind Wasabi Wallet, announced its decision to cease its coinjoin services following regulatory measures in the U.S. The company stated that the wallet will now operate as a standard non-custodial bitcoin wallet without the coinjoin feature. Zksnacks Withdraws Coinjoin Feature from Wasabi Wallet Following intensified regulatory scrutiny in the U.S., […]

Recently, Messari’s founder and CEO, Ryan Selkis, has expressed strong opinions about the potential impact of a Joe Biden reelection on the cryptocurrency industry in the United States. On Thursday, Selkis voiced his concerns on the social media platform X, stating that a “second Biden term will lead to mass wealth confiscation and crypto seizures.” […]

Coinbase, a leading U.S.-based cryptocurrency exchange, has finally announced the implementation of the lightning network, a Bitcoin layer 2 scaling solution. Coinbase will now allow its users to take advantage of this scaling protocol to avoid paying high fees for Bitcoin transactions, enhancing the utility of crypto for customers using Coinbase’s services. Coinbase Adds Lightning […]

PRESS RELEASE. Road Town, British Virgin Islands — May 2, 2024. EYWA, a consensus bridge that secures transactions across multiple protocols, has raised a total of $7 million as it delivers the new era of Web3 interoperability. The investment has been led by Curve Finance founder Michael Egorov — with the project recently attracting two […]

David Marcus, the former president of Paypal and the current CEO of Lightspark, envisions bitcoin as the primary currency for artificial intelligence (AI) in the future. He describes bitcoin as “maximally neutral,” highlighting its advantages over conventional fiat currencies like the euro or the U.S. dollar. Bitcoin Poised to Become Default Currency for AI, Says […]

A new study by Fidelity Digital Assets reveals that as bitcoin matures, its volatility is decreasing, making it less volatile than several S&P 500 stocks. “As the asset class matures and its total market cap grows, the inflow of capital is expected to have a smaller impact because it will be flowing into a larger […]

On May 1, 2024, U.S. spot bitcoin ETFs experienced their most significant single-day outflows since their inception on Jan. 11, 2024. ETF Institute Co-Founder: ‘Inflows Don’t Go up in a Straight Line’ Data sourced from coinglass.com reveals that these funds saw a withdrawal of $563.7 million on Wednesday, with Fidelity’s FBTC experiencing the highest outflow, […]

The Middle East and North Africa (MENA) lead the world in the adoption of blockchain and cryptocurrencies because governments in the region actively promote digital transformation in their strategic future visions, according to Faisal Al Monai, chairman and co-founder of Droppgroup. This commitment by governments in the region “creates a favourable environment for the growth […]

Unknown attackers recently siphoned digital assets valued at just under $1.6 million from the decentralized finance protocol, Pike Finance. The protocol announced it is offering a 20% reward for the return of the funds, while an ongoing investigation into the incident continues. USDC Vulnerability The decentralized finance (defi) protocol, Pike Finance, said on May 1 […]

MicroStrategy’s (MSTR) Bitcoin for Corporations conference has kicked off day 2, featuring Wall Street executives and leading fintech professionals exploring the future of corporate Bitcoin adoption.

A Binance user unknowingly withdrew one of just four extremely rare Bitcoin "Epic Sats" from 2016, representing a potential multi-million dollar oversight by the exchange.

BlackRock says sovereign wealth funds and pensions are having diligence conversations about Bitcoin ETFs, signaling growing institutional Bitcoin adoption despite recent outflows.

Recent 13F filings show Europe's second largest bank, BNP Paribas, has purchased Bitcoin exposure via a US spot Bitcoin ETF.

Texas A&M Professor Korok Ray announced the launch of the Bitcoin Research Institute to explore the integration of Bitcoin and artificial intelligence.

Michael Saylor and the MicroStrategy EVP of Engineering announce the company's latest Bitcoin innovation at MicroStrategy World: Bitcoin for Corporations 2024.

Alejandro De La Torre believes Bitcoin mining is dangerously centralized and plans to put power back into the hands of solo miners with DEMAND.

MicroStrategy hosts its Bitcoin for Corporations conference today, featuring leaders discussing how firms can adopt BTC as a treasury asset like MicroStrategy's pioneering strategy.

A thorough breakdown of OP_CAT, and what it enables, by Kiara Bickers from Blockstream.

Hoseki invites other Bitcoin ETF issuers to join Bitwise in providing transparency to the public.

Standard Chartered sees Bitcoin falling to $50,000 near-term amid outflows and tight liquidity, but maintains a bullish long-term outlook with a $150,000 target for 2024.

Ver is alleged to have caused a loss to the IRS of at least $48 million, said the DOJ.

In the land of the blind, the DOJ is king

Coinbase adopts Bitcoin's Lightning Network, enabling fast, cheap BTC transactions for its 100M+ users in partnership with Lightspark.

A look at how Bitcoin and it's historical trends in appreciating in value can indirectly help protect biodiversity in the cannabis industry, and potentially one day the agriculture industry in general.

Alliance Resource Partners (ARLP) announced that it’s mining bitcoin and holding 425 BTC on its balance sheet.

Bitcoin Magazine Pro and Samara Alpha Management are teaming up again for The Bitcoin Alpha Competition. Samara Alpha will award the winner $1 million in seed capital to run a bitcoin hedge fund.

Hong Kong's new spot Bitcoin ETFs saw only $8.5 million volume on opening day.

Almost five months after the US approves spot Bitcoin ETFs for trading, Asia follows.

MicroStrategy now holds 214,400 bitcoins at an average purchase price of $35,180 per BTC.

A look at Paypal's recent proposal to implement Bitcoin wallets that pay mining fees using a scheme ensuring that only authorized miners powered by renewable energy can collect the user's transaction fee.

A break down of the issues at the core of the recent Samourai Wallet arrests, and why these could have far reaching implications for all self custodial tools in the ecosystem.

Navigating New Frontiers: How the Bitcoin Volatility Premium AMC Is Redefining Investment Strategies

Australia moves to approve its first spot bitcoin ETFs this year, joining the US and Hong Kong in offering regulated Bitcoin funds. Approval could unlock billions in institutional investment.

If what you say is true. The Shaolin and the Wu-Tang could be dangerous.

How to use bitcoin multisig to remove single points of failure and increase the security of your holdings.

Bitcoin is not invincible, but was designed with resilience at its core. The eighth installment of “10 Steps to Self-Sovereignty” powered by Ledger.

On Wednesday, the European Parliament adopted a new AML package increasing crypto asset service provider’s reporting requirements for anonymous payments. But it appears that the package’s crypto laws are largely based on assumptions, not facts.

Japanese public company Metaplanet has announced the purchase of ¥1 billion ($6.25 million) worth of Bitcoin, adopting Bitcoin as a treasury reserve asset.

The FBI says crypto money transmitting services that purposely break the law or knowingly facilitate illegal transactions will be investigated.

Meat company Beck & Bulow adopts Bitcoin for payments, employee 401Ks, and treasury reserves.

The charges brought against Samourai Wallet’s founders could be part of an international effort to limit Bitcoin privacy-preserving technologies, which would hurt those who need these technologies the most.

ViaBTC sold the fourth ever “epic sat” for over $2.1 million less than a week after mining it during the Bitcoin halving.

A reaction to the indictment charges against the Samourai developers yesterday, and the patently absurd distortions of reality, prior regulatory clarification, and the functionality of the software to categorize them as a money transmission business.

Recent 13F SEC filings reveal major pension consultant is buying spot Bitcoin ETFs.

Major bank Morgan Stanley may soon allow its 15,000 brokers to recommend Bitcoin ETFs to clients. The move could boost inflows and send a legitimizing signal to other financial institutions.

It is crucial for Bitcoiners to evaluate the state of things today in light of the accusations made against Keonne Rodriguez and William Lonergan Hill by the US Department of Justice from Samourai Wallet.

The US DOJ also seized Samourai's web servers and domain, and served a seizure warrant for Samourai’s mobile app on the Google Play Store.

When mining bitcoin and receiving their hard-won currency, miners have to decide how to custody their earnings. A comprehensive guide to self-custody for those securing the Bitcoin network.

The Open Source Justice Foundation is a non-profit charity focused on open source protocols that can alleviate the need for a traditional justice system. Learn more about OSJF's work at opensourcejustice.org.

A quick breakdown of the recent renewal of FISA 702, and the implications it has on the civil rights of American citizens.

Bitcoin payments app Strike announces its launch in Europe, bringing bitcoin buying, selling, and transfers to millions.

Funds from daily sales can now be used to purchase bitcoin automatically at the end of each day.

Joe Kelly, CEO and co-founder of Bitcoin financial services platform Unchained, is determined to give users a true Bitcoin experience, while still meeting them where they’re at.

Hong Kong is set to make history as the first spot Bitcoin ETFs are slated to begin trading on 30th April. HashKey Capital, a leading asset management firm, has confirmed the launch date.

A deeper look at standardized on-chain methods for receiving bitcoin and the essential differences that make each method unique.

A walk through the nuance of what "decentralization" means in the context of Bitcoin, and how to conceptualize the different aspects of it.

Block says it aims to unlock innovation and support the development of new mining system form factors and use cases.

Sometimes things get politically or economically so unstable that you have no option but to flee your home. Bitcoin offers an immensely powerful tool to safely bring your wealth with you.

Ironically, miners were the big winners at this turn of the epoch.

Roger Ver, an early investor in Bitcoin and now an advocate of Bitcoin Cash, was arrested last weekend in Spain on US-brought criminal charges of mail fraud, tax evasion, and filing false tax returns. The authorities in the United States will now seek his extradition.

According to an announcement by the Justice Department yesterday (Monday), Ver evaded at least $48 million in taxes in the United States.

The Face of Bitcoin Cash

Ver is a vocal crypto advocate who even gained the title of “Bitcoin Jesus” in the early years of cryptocurrency adoption. However, he disagreed with the majority of the Bitcoin miners who opposed changes to the blockchain, leading to the creation of Bitcoin Cash. Ver became a strong advocate for Bitcoin Cash.

According to the latest announcement, Ver obtained citizenship from St. Kitts and Nevis in early 2014 and renounced his US citizenship. However, he continued to own MemoryDealers and Agilestar, two US-incorporated companies that sold computer and networking equipment.

An Early Bitcoin Investor

The US authorities allege that Ver began acquiring Bitcoins for himself and his companies as early as 2011. However, he failed to pay an “exit tax” allegedly during his expatriation. He is even accused of concealing information from a law firm he hired, resulting in the filing of false tax returns.

“As a result of his expatriation, Ver allegedly was required under US law to file tax returns that reported capital gains from the constructive sale of his worldwide assets, including the Bitcoins, and to report the fair market value of his assets. He was also allegedly required to pay a tax – referred to as an “exit tax” – on those capital gains,” the Justice Department noted.

The estimates of the US authorities show that Ver and his companies owned approximately 131,000 Bitcoins when he obtained St. Kitts and Nevis citizenship. The two companies held 73,000 of those Bitcoins.

“Ver allegedly provided or caused to be provided false or misleading information to the law firm and appraiser that concealed the true number of Bitcoins he and his companies owned,” the Justice Department added. “As a result, the law firm allegedly prepared and filed false tax returns that substantially undervalued the two companies and their 73,000 Bitcoins and did not report that Ver owned any Bitcoins personally.”

Furthermore, Ver sold “tens of thousands” of Bitcoins in November 2017 for about $240 million in cash. According to the US authorities, he needed to report the gains to the IRS and pay tax on the dividends he received from the two US-incorporated companies.

“Ver’s 2017 individual income tax return did not report any gain or pay any tax related to the distribution of MemoryDealers’ and Agilestar’s Bitcoins to him,” the Justice Department noted. “In total, Ver is alleged to have caused a loss to the IRS of at least $48 million.”

This article was written by Arnab Shome at www.financemagnates.com.

Strike, a payments application utilizing the Bitcoin blockchain, has launched its services in Europe, enabling customers in the region to engage in buying, selling, and withdrawing bitcoin (BTC). The announcement was made today (Wednesday).

Expanding Operations across Continents

Having recently expanded its operations to Africa, Strike has already established its presence in Asia, the Caribbean, and Latin America. However, availability may vary by country, and interested customers are encouraged to check their local iOS or Android app stores for accessibility, as some regions may be excluded from the expansion.

“As the third-largest economy globally … Europe presents vast opportunities for bitcoin adoption,” Strike said in a press release. “We’ve seen the demand and heard the feedback first-hand from the community.”

Blockchain technology is reshaping global payments with its security and efficiency. Unlike traditional methods prone to fraud, blockchain's decentralized ledger ensures secure transactions. Advanced cryptographic techniques like digital signatures bolster security further.

Eliminating intermediaries, blockchain enables direct peer-to-peer transactions, expediting settlements and reducing costs. Cross-border payments, often costly and time-consuming, stand to benefit greatly from blockchain's streamlined approach. With its potential to simplify and secure transactions, blockchain emerges as a disruptive force in the global payment landscape.

🚨LATEST: Bitcoin Payment App Strike Expands to Europe, Boosting Crypto Accessibility https://t.co/5p4jJ6qpDX

— CryptoCrunchApp (News Feed) (@GoCryptoCrunch) April 24, 2024

Introducing Bitcoin-Powered Payment Solution for European Market

Developed by Chicago-based Zap Solutions under the leadership of entrepreneur Jack Mallers, Strike was initially introduced in the United States in 2020. Similar to widely used online payment platforms such as Cash App or PayPal, Strike facilitates global money transfers for its users. Notably, Strike distinguishes itself by leveraging the Bitcoin blockchain, which enables swifter and more cost-effective transactions compared to conventional alternatives.

In Europe, customers will have the convenience of conducting BTC transactions directly with euro deposits via SEPA, the region’s payments provider. Recipients of these funds will have the flexibility to opt for receiving the value in either bitcoin, euro, or, in select areas, Tether’s USDT stablecoin.

This article was written by Tareq Sikder at www.financemagnates.com.

US prosecutors have proposed a 36-month prison sentence for Binance's former CEO, Changpeng Zhao. According to a report by CNBC, the prosecutors argued that such a sentence, which is double the advisory guidelines, reflects the seriousness of the charges against Zhao.

The recommendation, outlined in a sentencing memorandum filed with the Western District Court of Washington, highlights the severity of the accusations against Zhao, who stepped down from his position last November following a plea deal with the US Department of Justice.

US Prosecutors' Charges against Zhao

US prosecutors said a 36-month custodial sentence is necessary to underscore the seriousness of the charges against Zhao, which include failure to implement anti-money laundering measures as mandated by the Bank Secrecy Act. The memorandum emphasized Zhao's alleged role in allowing Binance to process transactions involving unlawful activities, including those from sanctioned countries.

The case against Zhao occurs amidst a backdrop of legal challenges for Binance, with the exchange facing lawsuits from both the US Securities and Exchange Commission and the Commodity Futures Trading Commission.

Allegations include mishandling customer assets and operating an illegal, unregistered exchange in the US. Authorities have also ordered Binance to pay hefty fines, with Zhao agreeing to a $50 million penalty as part of the plea deal. However, he has not publicly commented on the recent developments. Zhao's official sentencing is scheduled for April 30.

Binance CEO's Legal Struggle

In January, a federal judge rejected a travel request from Zhao to visit his home in the United Arab Emirates for a family emergency. The judge deemed him a significant flight risk due to his immense wealth and ties to the UAE, despite offering to post his $4.5 billion equity in Binance as security for his return.

In November, Zhao pleaded guilty in a Seattle federal court to failing to maintain an effective anti-money laundering program at Binance. As part of the case, Binance agreed to pay $4.3 billion in penalties.

In a letter to Judge Richard Jones dated December 22, Zhao's lawyers requested permission for him to travel to Abu Dhabi on January 4 for one to four weeks due to a family emergency. However, federal prosecutors did not consent to Zhao's request, leading to a hearing on December 29, when Judge Jones denied the travel bid.

This article was written by Jared Kirui at www.financemagnates.com.

The Philippines' securities regulator has taken enforcement action against Binance, ordering Google and Apple to remove their apps from their respective app stores. This action follows allegations that Binance offered unregistered securities to Filipino investors.

Philippines' SEC Targets Binance's Apps

The Philippines' Securities and Exchange Commission (SEC), through its Chairperson, Emilio Aquino, highlighted the threat posed to the security of investors' funds by continued access to Binance's sites and apps.

The regulator alleged that Binance's presence in the app stores facilitates the spread of its illegal activities in the country. This action is a response to findings that the exchange promoted its services to attract funds from Filipinos despite lacking the necessary licensing from the regulator.

🚨PHILIPPINES SEC GOES TO WAR AGAINST BINANCE🚨Blocking Binance will “prevent the further proliferation of its illegal activities in the country”- According to a post on the regulator’s official website, The Philippines version of the SEC is actively working with… https://t.co/kDCxReyoZ7 pic.twitter.com/IooxO752Jv

— BSCN (@BSCNews) April 23, 2024

The latest enforcement action in the Philippines adds to Binance's mounting legal challenges, including the recent replacement of its CEO and a hefty fine imposed by the US government against the exchange for alleged violation of anti-money laundering regulations.

Changpeng Zhao, the former CEO of Binance, awaits sentencing on charges related to violating the Bank Secrecy Act. Furthermore, the exchange is entangled in legal battles with both the US Securities and Exchange Commission and the Commodity Futures Trading Commission over purported mishandling of customer assets.

The Philippines' SEC has advised investors holding assets in Binance to promptly close their positions or transfer them to registered exchanges or wallets within the country.

Binance Grapples with Legal Hurdles

Last month, the Philippines' SEC blocked Binance's operations as an investment and trading platform due to claims that the exchange lacked the required license. According to the watchdog, Binance has continued its activities despite warnings issued since November 2023.

In a meeting held on March 12, the SEC formally requested the National Telecommunications Commission to block Binance's website and associated web pages. Aquino emphasized the threat posed to Filipino investors' funds by allowing continued access to the platform.

Binance's failure to secure the necessary license from the SEC contradicts the Philippines' regulations, which mandate companies secure approvals before soliciting investments and operating securities exchanges. Additionally, the exchange's extensive social media promotional campaigns targeting Filipino investors have raised concerns about compliance and investor protection.

This article was written by Jared Kirui at www.financemagnates.com.

MoonPay has partnered with PayPal to introduce a crypto purchasing option for cryptocurrency app users in the US. This service enables users to use PayPal for transactions via wallet transfers, bank transfers, and debit cards. The integration promises to enhance the accessibility and convenience of buying and trading cryptocurrencies by bridging the gap between traditional financial services and the crypto market.

Expanding Crypto Accessibility

According to the announcement on X, the collaboration between MoonPay and PayPal signifies a significant milestone in the journey towards mainstream adoption of cryptocurrencies. Users have access to a wider range of digital assets as PayPal extends its offering of crypto tokens through MoonPay.

Additionally, PayPal's integration into MoonPay's ecosystem represents a significant achievement in overcoming barriers to cryptocurrency adoption. Traditional banks have often imposed restrictions on transactions related to cryptocurrencies, leading to frustrations among users. This collaboration opens up new avenues for individuals seeking to invest in cryptocurrencies.

🌙 Exciting news from MoonPay! 💳Today, we're thrilled to announce a game-changing integration: MoonPay has partnered with @PayPal to offer seamless fiat-to-crypto transactions for users in the U.S.!🧵👇 pic.twitter.com/N3kobMR2ru

— MoonPay 🟣 (@moonpay) May 2, 2024

"MoonPay allows PayPal users to buy and sell 110+ cryptocurrencies, not just limited options like PYUSD or ETH. For existing PayPal users, the integration streamlines transactions, eliminating the need to manually input card information. Buying crypto on MoonPay becomes as easy as a few clicks," MoonPay noted.

Bridge Between Fiat and Crypto

Last year, PayPal entered the cryptocurrency space after launching a stablecoin fully backed by the US dollar. Dubbed PYUSD, the launch of the digital asset marked a significant step towards bridging the gap between traditional fiat currency and the rapidly evolving digital asset space.

PYUSD, developed in collaboration with Paxos Trust Company, is a digital asset anchored by US dollar deposits, short-term US Treasuries, and similar cash equivalents. This backing ensures that each unit of PYUSD is redeemable at a 1:1 ratio for US dollars.

With PYUSD, PayPal users can transfer the stablecoin between their PayPal accounts and compatible digital wallets. To ensure transparency, Paxos will regularly publish a report outlining the financial instruments backing PYUSD.

This article was written by Jared Kirui at www.financemagnates.com.

Worldcoin is eying a potential partnership with artificial intelligence research firm OpenAI, according to a report by Bloomberg. This latest development arrives despite the regulatory challenges facing the digital identity platform over privacy concerns. Through its parent company, Tools for Humanity, the cryptocurrency project plans to expand its services.

Navigating Regulatory Challenges

Recently, Spain and Portugal raised concerns over the inclusion of children in the project's iris scanning initiative, prompting regulatory action. Previously, the project collaborated with cybersecurity firm Okta Inc. to offer an authentication service. Worldcoin's identity systems support solutions for validating individuals in the digital world dominated by AI.

With the rising adoption of AI, the need to distinguish between humans and bots is important. Sam Altman, the Co-Founder of Worldcoin, is renowned for his involvement with OpenAI. Currently, he serves as the company's CEO. Amidst regulatory challenges, Tools for Humanity is enhancing its product. The firm is planning to launch a layer-2 blockchain called World Chain and improve the orb device.

However, despite a successful fundraising round last year, Tools for Humanity is reportedly facing uncertainty in tapping into the crypto market for additional funding. Market volatility and pricing fluctuations have prompted a reevaluation of planned token sales.

Driving Growth of AI

Meanwhile, OpenAI recently hosted top executives from Fortune 500 companies in major business hubs like San Francisco, New York, and London to pitch AI services. At the center of this initiative is OpenAI's enterprise-grade chatbot, designed to cater to specific industry needs ranging from finance to healthcare and energy.

OpenAI is proactively reaching out to corporate clients to offer customized AI solutions while assuring data security. Altman and COO Brad Lightcap emphasized the importance of personalized services and direct engagement with the AI firm.

Beyond corporate clientele, OpenAI is targeting Hollywood with video creation tools and offerings like ChatGPT Enterprise and the Sora video creation tool. However, there are concerns regarding AI's reliability and copyright implications in content creation.

This article was written by Jared Kirui at www.financemagnates.com.

In a legal saga that has captured international attention, a Nigerian court has adjourned the money laundering trial against cryptocurrency exchange Binance and two of its executives until May 17. The decision came after a lawyer representing the exchange informed the court that he had not been served with the essential documents necessary to prepare for the case.

Legal Proceedings Adjourned

Binance, along with its executives Tigran Gambaryan and Nadeem Anjarwalla, find themselves embroiled in legal proceedings alleging money laundering exceeding $35 million and engaging in specialized financial activities without the requisite license. Gambaryan, a US citizen and head of financial crime compliance, and Anjarwalla, a British-Kenyan serving as a regional manager for Africa, stand accused in this high-stakes trial.

During Thursday's court session, Binance's legal representative raised concerns about not receiving the additional proof of evidence crucial for preparing the defence. The lawyer highlighted the necessity of this documentation for adequately commencing the trial. However, he was promptly served with the over 300-page document while in court.

Nigeria court adjourns Binance and execs trial to May 17 https://t.co/OPE4vXonkt pic.twitter.com/3WWzWeAB0E

— Reuters Africa (@ReutersAfrica) May 2, 2024

Judge Delays Binance Trial for Evidence Review

Responding to the developments, the presiding judge opted to adjourn the proceedings to allow Binance's legal team ample time to scrutinize the provided evidence before the trial reconvenes on May 17.

In addition to the ongoing money laundering case brought forth by Nigeria's anti-graft agency, the Economic and Financial Crimes Commission (EFCC), Binance and its executives face another legal hurdle. They are also implicated in four counts of tax evasion, a separate trial for which is set to resume concurrently on May 17.

Earlier, Finance Magnates reported that two senior executives' detention raised concerns over diplomatic relations and cryptocurrency regulations. Authorities accused Binance of currency speculation, demanding user data to stabilize the devalued naira. President Tinubu's administration sees crypto exchanges as threats to reforms attracting foreign investment.

This article was written by Tareq Sikder at www.financemagnates.com.

Consensys, a United States-based blockchain firm, has initiated legal action against the Securities and Exchange Commission (SEC) in a bid to deter the regulator from overseeing the Ethereum blockchain. Filed yesterday (Thursday), the lawsuit termed the efforts of the regulator a “campaign to seize control over the future of cryptocurrency.”

A Strategic Lawsuit

The lawsuit argued that if the SEC continues to exert its authority over Ethereum, it would bring the blockchain to a halt, “crippling one of the internet’s greatest innovations.”

Consensys revealed that its actions against the SEC followed its receipt of a Wells Notice on April 10, indicating that the regulator is preparing to bring enforcement actions against the company over the services of its MetaMask wallet. The company highlighted that MetaMask is not a broker and “neither holds customers’ digital assets nor carries out any transaction functions.”

Today, Consensys took an important step towards preserving access to ether and by extension the Ethereum blockchain in the U.S. We are suing the SEC and fighting back against its overzealous regulatory overreach. You can find more of my thoughts here: https://t.co/VmvOsrCxjw… https://t.co/5IubZo69FW

— Joseph Lubin (@ethereumJoseph) April 25, 2024

Clarifying Regulations

With the lawsuit, the blockchain company is seeking the Texas federal court’s ruling that Ethereum is not a security and not under the authority of the SEC. Furthermore, it needs the assurance that any investigation into the company on the premises of Ethereum as a security “would violate” its Fifth Amendment rights and the Administrative Procedures Act. Additionally, the lawsuit seeks the ruling that MetaMask is not a broker and that the staking services offered by the platform do not violate securities laws.

“The SEC’s unlawful seizure of authority over ETH would spell disaster for the Ethereum network, and for Consensys,” the lawsuit noted.

The status of Ethereum hangs in the balance as the SEC’s Chair, Gary Gensler, earlier said that many digital currencies are unregistered securities and fall under the regulator’s purview. Bitcoin is the only cryptocurrency that the regulator considers a commodity, giving its regulatory rights to the Commodity Futures Trading Commission.

Meanwhile, Coinbase sued the SEC over the clarification of crypto-centric rules. However, the regulator took action against a number of crypto companies over lapses in regulations and is now fighting legal battles with multiple big names like Ripple, Coinbase, and Binance.

This article was written by Arnab Shome at www.financemagnates.com.

Tigran Gambaryan, the detained Binance executive in Nigeria, will remain in custody until a bail hearing on May 17. Meanwhile, his trial is scheduled for May 2.

More Jail Time in Nigeria

The extension of Gambaryan’s remand was granted by the Nigerian court yesterday (Tuesday) amid opposition from federal prosecutors to the appeal for bail. The crypto exchange’s executive has already pleaded not guilty to charges of tax evasion and money laundering.

Gambaryan holds the position of Head of Financial Crime Compliance at the crypto exchange. He and another fellow Binance executive, Nadeem Anjarwalla, who holds the position of its African Regional Manager, traveled to Nigeria in an official capacity earlier this year but were detained by local authorities.

Nigeria’s Economic and Financial Crimes Commission brought four counts of tax evasion charges against the exchange and the two detained executives. The charges primarily blame the defendants for non-payment of value-added tax, income tax, and failure to file tax returns. The exchange has been accused of aiding Nigerians in evading tax through its platform.

In an earlier statement, the exchange made it clear that the two executives were wrongly blamed as they did not have any decision-making authority.

The Great Escape

Meanwhile, Anjarwalla, one of the detained defendants and a citizen of both the UK and Kenya, escaped detention earlier this month and reportedly fled the country. Although his UK travel documents were seized by Nigerian authorities, he allegedly used Kenyan credentials to flee the country on a Middle Eastern airline.

Several local Nigerian publications recently reported on Anjarwalla’s arrest in Kenya and possible extradition to Nigeria to face trial. However, Anjarwalla’s wife came out and denied all these reports.

Yuki Gambaryan, the wife of Gambaryan, launched a petition requesting the US State Department, Nigeria’s Economic and Financial Crimes Commission, the Nigerian government, and US President Joe Biden to return her husband to the US.

This article was written by Arnab Shome at www.financemagnates.com.

The former Head of Crypto Operations at Revolut, Ruslan Fakhrutdinov, has launched a cryptocurrency exchange with an investment of $6.5 million. Tioga Capital, Semantic Ventures, Cherry Ventures, Starkware, and Cyber Fund are some of the investors in the new exchange dubbed X10.

Self-Custody and On-Chain Settlement

According to the press release, executives from Revolut and the Founder of Lido, Konstantin Lomashuk, have invested in the crypto platform. X10 combines aspects of a centralized exchange and a decentralized finance (DeFi) platform. It promises full self-custody of digital assets and on-chain settlement of transactions.

"With X10, we want to give our users and traders the best of both worlds. Imagine the features and the speed of Coinbase or Binance but with full self-custody," Fakhrutdinov said. The FTX situation, where users only got back a third of their funds, serves as a wake-up call for the industry. It urges us to reinforce trust and efficiency in crypto trading through on-chain trade settlement, validation, and self-custody."

X10's hybrid model promises to instill trust and efficiency in crypto trading, providing users with a solution that combines the best of CeFi and DeFi. The exchange operates as a hybrid central limit order book and handles order processing and matching off-chain.

CeFi and DeFi

According to the firm, this approach enhances market makers' capabilities, resulting in updated prices, tighter spreads, deeper liquidity, and an enhanced user experience. Notably, trade settlement occurs on-chain via the StarkEx Layer 2 engine. X10 uses on-chain settlement and validations, as well as independent Oracle price providers.

Additionally, X10 features multiple trading sub-accounts, order types customizable to the web, and comprehensive market analytics. The exchange expects to launch a mobile app and integrate Telegram bot functionalities. With the upcoming mobile app and Telegram bots, X10 expects to deliver a holistic trading experience across diverse platforms.

Last year, Revolut launched crypto trading services in New Zealand, providing access to over 100 digital currencies. The company's decision to venture into the New Zealand crypto market signaled its commitment to global expansion and diversification. This move grants customers access to educational resources for aspiring crypto traders.

This article was written by Jared Kirui at www.financemagnates.com.

Federal prosecutors charged Samurai Wallet founders, Keonne Rodriguez and William Lonergan Hill, with conspiracy to commit money laundering yesterday (Wednesday), marking another development in the US government's ongoing efforts to address the use of crypto mixing tools potentially exploited by illicit actors and foreign entities to conceal financial transactions.

Facing Legal Action over Alleged Transactions

According to a press release issued on Wednesday, Rodriguez and Hill stand accused of developing, marketing, and operating the mixer, purportedly facilitating more than $100 million in money laundering transactions from illegal dark web markets. The release further alleges that Samourai Wallet facilitated approximately $2 billion in "unlawful transactions" from 2015 to the present.

Prosecutors have claimed that Rodriguez and Hill accrued around $4.5 million in fees for their mixing services, with different features carrying various pool fees, as outlined in the indictment. The charges against the duo include conspiracy to commit money laundering and conspiracy to operate an unlicensed money-transmitting business, carrying potential maximum sentences of 20 years and five years, respectively.

Rodriguez was reportedly arrested on Wednesday morning and is expected to be arraigned in Pennsylvania today or tomorrow, while Hill, the Chief Technology Officer of Samourai Wallet, was apprehended in Portugal and will face extradition to the US.

Federal prosecutors have charged Samurai Wallet founders Keonne Rodriguez and William Lonergan Hill with conspiracy to commit money laundering 🚨According to a press release, the pair developed, marketed and operated the mixer, which "facilitated more than $100 million in money… pic.twitter.com/wOY8iZR95y

— Waivly (@Waivly) April 24, 2024

Website Seized Following Developer Indictment

The Samourai Wallet website, previously hosted in Iceland, has been seized, along with a seizure warrant issued for the mobile application on the Google Play Store. The website's homepage now displays a warning from US officials following the developers' indictment.

The Department of Justice's press release highlighted that Samourai Wallet had been under development since 2015, alleging that Rodriguez and Hill actively encouraged users to launder criminal proceeds through the mixer, citing social media posts and private messages. The mobile application reportedly garnered over 100,000 downloads.

This article was written by Tareq Sikder at www.financemagnates.com.

zondacrypto, a cryptocurrency exchange in the Central and Eastern European region, has announced its partnership with the Giro d'Italia cycling race. This collaboration designates zondacrypto as the Official Cryptocurrency Exchange of the 107th edition of the Giro d'Italia, set to commence on May 4th in Turin and culminate on May 26th in Rome.

Multi-Faceted Role: Includes Fantasy League Sponsorship

As part of this partnership, zondacrypto will enjoy visibility throughout the event, including branding at significant points along the race route, such as "kilometer zero" and on a specially designated car. Moreover, zondacrypto's involvement extends beyond the race itself, encompassing sponsorship of the FantaGiro d'Italia fantasy league, boasting over 12,000 participants.

“Together with the organizers, we believe that the ZND token, which will be the prize in the race, will revolutionize the future of sports sponsorship. Additionally, our logo on the leader's jersey will expose us throughout the Giro d'Italia Women, highlighting that zondacrypto is also a woman. We welcome Giro among our friends who, like us, believe in crypto as the currency of the future," commented Przemysław Kral, the CEO of zondacrypto.

Expanding Sponsorship Reach

In addition to its collaboration with the Giro d'Italia, zondacrypto will serve as the Official Sponsor of Giro di Lombardia, also known as "Il Lombardia," and the Giro Rosa, formerly known as the Giro d'Italia Women. These partnerships afford zondacrypto’s exposure within the global cycling community, including the placement of its logo on the 'red jersey' during the women's race.

Exciting news!We are proud to announce that we will be the Official Crypto Exchange Partner of the Giro d'Italia 🚴‍♂️Starting this Saturday in Venaria Reale and finishing on May 26 in Rome with ZND tokens to be won! 🇮🇹Look for us at 'kilometer zero', on the special car No. 1,… pic.twitter.com/avG5xPsDuU

— zondacrypto (@zondacrypto) April 29, 2024

zondacrypto has pledged to offer a prize for the standout female cyclist in the Giro Rosa, a notable event in the International Cycling Union calendar. Additionally, it will sponsor a prize for the winner of the FantaGiro d'Italia fantasy league.

“The dynamics of our Partner's growth is as high as the speed of the best cyclists during the tour. We're delighted that our global Giro d'Italia audience of nearly 800 million will help in increasing knowledge in the field of cryptocurrencies thanks to the involvement of zondacrypto," said Matteo Mursia, the Chief Revenue Officer, w RCS Sport.

This article was written by Tareq Sikder at www.financemagnates.com.

Binance's Founder, Changpeng Zhao, has been sentenced to four months in prison after pleading guilty to charges related to allowing money laundering on the cryptocurrency exchange, the Financial Times reported. The sentence, handed down in a Seattle federal court, marked a significant development in the ongoing legal battles involving Binance and Zhao.

Plea Deal and Sentencing

Zhao's sentencing occurred after he struck a deal with the U.S. government in November to resolve a longstanding investigation into Binance. As part of the settlement, Zhao agreed to step down as the exchange's CEO.

The sentence issued is less severe despite federal prosecutors seeking a three-year prison term. The defense had advocated for five months of probation, while sentencing guidelines suggested a term of 12 to 18 months. Zhao was convicted of willfully failing to implement effective anti-money laundering programs on Binance as required by the Bank Secrecy Act.

Additionally, he is convicted of allowing Binance to process transactions involving proceeds of unlawful activity, including those between Americans and individuals in sanctioned jurisdictions. As part of the resolution, Binance was ordered to pay $4.3 billion in fines last year. Zhao agreed to personally pay a fine worth $50 million.

Binance’s former chief Changpeng Zhao sentenced to 4 months in jail https://t.co/vySulvvr7W

— Financial Times (@FT) April 30, 2024

Pending Legal Battles

Beyond Zhao's sentencing, Binance faces other legal challenges. The exchange was separately sued by the US Securities and Exchange Commission (SEC) and the Commodity Futures Trading Commission (CFTC) over allegations of mishandling customer assets and operating an illegal and unregistered exchange in the US.

Early this year, a federal judge rejected Zhao's request to travel to the United Arab Emirates. The judge denied the plea due to concerns about flight risk despite Zhao offering substantial collateral, including his equity in Binance.

Meanwhile, the Securities and Exchange Commission (SEC) of the Philippines recently took action against Binance. According to the regulator, the leading crypto exchange has continued to operate without the required license despite warnings dating back to November 2023. The SEC's action includes a formal request to the National Telecommunications Commission to block Binance's website and associated web pages.

Binance's regulatory woes are not limited to the Philippines. Regulatory bodies worldwide have intensified scrutiny of the exchange's activities, citing investor protection and compliance concerns. Binance has encountered regulatory hurdles from France to Nigeria, comprising warnings and lawsuits.

This article was written by Jared Kirui at www.financemagnates.com.

Prometheum Capital has announced a strategic partnership with Broadridge Financial Solutions (NYSE: BR) to bolster its post-trade lifecycle and back-office operations. The firm gears up to introduce a custody, clearing, and settlement services suite for digital asset securities.

Prometheum Partners with Broadridge to Enhance Post-Trade Operations

Prometheum will leverage Broadridge's Shadow Post Trade Processing Solution and Business Process Outsourcing tools. These solutions encompass a wide range of capabilities, including bookkeeping, trade capture, reconciliations, and regulatory reporting.

"Collaborating with Broadridge is a pivotal step in our business strategy,” Benjamin Kaplan, the CEO of Prometheum, stated. “Their support is instrumental in advancing our mission of creating a well-regulated and efficient ecosystem for digital asset securities."

This partnership follows several significant achievements for Prometheum in 2024, such as the appointment of Albert P. Meo as the CFO and the company's declaration of its intent to offer ETH custodial services. Prometheum plans to initiate its custodial services within this quarter.

“By combining our expertise with Prometheum's vision, we are empowering investors and businesses while shaping the future of the financial industry,” added Zachary Dea, the Director and Head of Product for the Shadow Post Trade Processing Solution at Broadridge.

Since its inception in 2017, Prometheum has been actively engaged in the cryptocurrency arena. Within the first twelve months of its operations, the company launched the first SEC-compliant ICO trading platform.

Broadridge and the Digital Assets Market

Broadridge has also made significant inroads into the cryptocurrency, digital assets, and blockchain technology sectors. Notably, in 2022, the company forged a strategic partnership with Coinbase. This collaboration aimed to enhance interoperability between Coinbase Prime and Broadridge's Trading and Connectivity Solutions' NYFIX order-routing network. The partnership was designed to bolster the crypto market by improving liquidity and expanding access to crypto trading opportunities.

Furthermore, in 2021, Broadridge unveiled the latest iteration of its Private Market Hub platform. This platform is underpinned by the Amazon Managed Blockchain from Amazon Web Services, underscoring the pivotal role of blockchain in the evolution of financial technologies.

This article was written by Damian Chmiel at www.financemagnates.com.

CoinW Exchange, a notable presence within the digital asset trading domain, is undergoing changes as it observes its sixth-year anniversary. Situated in Dubai, the exchange has revealed an exhaustive rebranding effort alongside the debut of its Proprietary Trading (Prop Trading) product.

Introducing Prop Trading for Profit Opportunities

Having cemented its position within the digital assets trading industry, CoinW Exchange is now set to enter a fresh phase of development. A centrepiece of its transformation is the launch of the Prop Trading product, an offering aimed at providing traders with expanded avenues for profit optimization. This new product is set to play a role in CoinW Exchange's strategic outlook for the future according to the firm.

According to Sonic, the Director of CoinW PropTrading: "We have a host of exciting plans in the pipeline that promise to revolutionize the way digital assets are traded. We hope CPT can bring more opportunities to talented traders who are short of fund. CoinW will be the place that they can truly shine."

Challenges and Opportunities: UAE's Crypto Journey

A recent survey by KuCoin sheds light on the growing cryptocurrency landscape in the United Arab Emirates (UAE), as reported by Finance Magnates. Despite challenges, 59% of UAE crypto users view it as a long-term investment and 35% use it for portfolio diversification. Additionally, 29% see crypto as a more convenient asset storage method than traditional banks, and 22% use it for daily transactions.

Challenges include market volatility (52%), trust issues with crypto platforms (48%), and a lack of education (26%). However, the UAE benefits from strong financial infrastructure, cultural openness, regulatory favorability, access to capital, a skilled workforce, and global networks, positioning it as a promising hub for crypto industry growth.

Amidst escalating tensions, MetaQuotes is reportedly tightening restrictions on the use of MetaTrader platforms, although no official confirmation has been issued. This has led to the abrupt termination of partnerships between many proprietary trading firms and their brokerage partners. The primary concern appears to be the presence of active US clients onboarded by these platforms.

Proprietary trading has been predominantly linked with unregulated entities. However, regulated brokerages such as OANDA, Axi, and Hantec Markets have recently ventured into this space, keeping their services outside the US jurisdiction and under offshore regulatory entities.

This article was written by Tareq Sikder at www.financemagnates.com.

Bitget has released its latest Proof of Reserves (PoR) report for April 2024, highlighting a Bitcoin reserve ratio of more than 335%. The cryptocurrency exchange also indicated significant growth in USDT and ETH user assets since January 2024. The latest report arrived more than a week after the Bitcoin halving event.

Exceeding $2.7B in Reserves

Bitget's PoR report disclosed a total reserve ratio of 176%, with that of ether reaching 229%. According to the crypto exchange, this update strengthens its commitment to transparency and financial stability. The exchange has implemented additional measures, such as a protection fund and monthly valuations, to mitigate risks.

Gracy Chen, the Managing Director at Bitget, mentioned: "Bitget is unwavering in its commitment to transparency and financial stability. Our latest PoR update reinforces our dedication to safeguarding user assets and upholding the highest accountability standards. With a total reserve ratio of 176%, Bitget continues to lead by example in the cryptocurrency exchange industry."

On April 22, 2024, Bitget's total reserves exceeded $2.7 billion. The company plans to conduct routine audits to ensure continuous visibility into its reserves. The latest update highlighted a significant upsurge in USDT and ETH user assets by 51% and 46%, respectively, since January 2024.

Last month, Bitget recorded impressive growth in the first quarter, with a significant increase in trading volumes and the value of its native token, BGB. Bitget's futures trading volume jumped to $1.4 trillion, marking an increase of 146% from the previous quarter.

Growth in Trading Volumes

The exchange experienced substantial growth in derivatives market share, with a 2.4% surge in March. Concurrently, spot trading volume surged by 113%, exceeding $60 billion during the same period.

The surge in Bitget's trading volumes aligns with the broader trend observed across the cryptocurrency industry. According to Finance Magnates Intelligence, spot volumes for major cryptocurrency exchanges surged by 119% in March compared to the previous year and over 100% compared to February.

However, Bitcoin mining farms are adjusting to the aftermath of the halving event. For instance, Bitfarms plans to invest $240 million to triple its current hash rate capacity to 21 exahashes per second to remain competitive, Cointelegraph reported. This move occurred after Bitfarms reported its lowest monthly earnings over two years.

Bitfarms, like many other miners, experienced the impact of the Bitcoin halving, with its April earnings hitting a concerning low. Despite earning 269 Bitcoin in mining rewards and transaction fees, this figure was 6% lower than the previous month and 29% lower year-over-year.

This article was written by Jared Kirui at www.financemagnates.com.

The Tokyo-based financial services company Monex Group has completed its acquisition of a majority stake in 3iQ Digital Holdings, a Canadian crypto asset manager. The acquisition, initially announced in December 2023, has resulted in 3iQ and its subsidiaries becoming part of the Monex Group.

Monex Group Acquires Majority Stake in Canadian Crypto Asset Manager 3iQ

To support 3iQ's rapid business expansion, Monex Group has also invested $7.5 million in 3iQ's Managed Account Platform (QMAP). QMAP offers institutional investors access to a diverse range of crypto hedge funds, featuring alpha-oriented strategies tailored to meet the complex demands of global institutions. This investment significantly strengthens 3iQ's institutional digital asset management position.

The company was the first to launch a Bitcoin fund on the Toronto Stock Exchange in Canada. It further assisted CoinShares in creating a cryptocurrency ETF. Now, it will expand its crypto services under the Monex umbrella.

QMAP employs a stringent due diligence process to select fund managers with proven track records of generating alpha and effectively managing risks across various market cycles. These managers bring institutional backgrounds, specialized expertise, and operational excellence to the table.

"I have high [hopes] that QMAP will quickly become the leading platform for sophisticated investors to invest in a diversified suite of crypto hedge funds,” Yuko Seimei, the CEO of Monex Group, stated.

The platform's managed account structure allows 3iQ direct control over assets, enhancing transparency and risk management capabilities. This approach eliminates the extra layer of fees typically found in traditional fund-of-funds structures, enabling investors to customize their allocations or choose from pre-designed model portfolios at no additional cost.

“Together with Monex, we aim to create a superior investor experience that sets new standards globally,” added Pascal St. Jean, the President of 3iQ. "With a seasoned team, we remain committed to upholding our firm's decade-long tradition of developing cutting-edge investment solutions for institutional investors.”

The acquisition of 3iQ and investment in QMAP align with Monex Group's goal of strengthening its asset management business. Recently, the company has expanded its operations in the APAC region, planning to increase employment in the sales department by 80%.

This article was written by Damian Chmiel at www.financemagnates.com.

The Securities and Exchange Commission (SEC) in Thailand has warned digital asset exchanges that their advertisements and the organisation of introducing broker agent (IBA) events might violate local regulations, Bangkok Post reported today (Monday). The regulator clarified that IBAs can only promote digital token services to avoid speculation on cryptocurrencies, which are categorised as high-risk assets.

Clarifying Rules for Investors’ Benefits

IBAs are local companies or agents that onboard clients in a local market for their partner digital asset exchanges for commission. These practices are standard for exchanges or brokers that do not operate directly in some markets.

The warning came as the Thai regulator is reiterating the operations of digital asset exchanges in the country to ensure their compliance with local business standards and to focus on benefiting investors and protecting their interests.

Cryptocurrency exchanges are legal in Thailand, but they must obtain local approval. Last month, the country even allowed asset management firms to launch private funds to offer bitcoin exchange-traded funds (ETFs), but only to institutional and ultra-high-net-worth investors.

However, the country banned the sale of cryptocurrency lending products and also mandated that exchanges display a risk warning message.

Companies Must Be Honest

The recent cautionary order confirms the Thai regulator’s priority to ensure the advertisements and sales promotions of the crypto exchanges comply with specified criteria and also eliminate false, exaggerated, distorted, concealing, or misleading information. It further highlighted the mandatory warnings about investment risks for investors in all advertisements and promotions.

“When operators organise sales promotions by offering rewards to entice people to use the service, this could encourage use of the service without considering the investment risks. This is especially the case for cryptocurrencies,” Anek Yooyuen, Deputy Secretary-General of the Thai SEC said in a statement.

“The SEC is asking business operators to strictly comply with the rules and be careful when organising IBAs, advertising and sales promotions, following the relevant rules and guidelines. If there is any violation, there will be punishment according to the law.”

This article was written by Arnab Shome at www.financemagnates.com.

Argo Blockchain (LSE: ARB; NASDAQ: ARBK), a cryptocurrency mining company, has released its 2023 financial results, revealing a year marked by strategic adjustments amidst industry challenges. However, despite achieving a modest gross profit, net income was negative for another consecutive year.

Argo Blockchain Tried to Weather Crypto Storm, Cuts Debt by 63% in 2023

The company mined 1,760 Bitcoin throughout the year, averaging 4.8 Bitcoin per day, despite facing increased global hashrate and network difficulty.

Annual revenues reached $50.6 million, a decline of 14% from the previous year, as the mining margin decreased to 43% from 54% in 2022. However, Argo made significant strides in optimizing its operations, increasing its hash rate by 0.3 EH/s through the introduction of ePIC BlockMiners at its Quebec facilities and generating $7.2 million in power credits through strategic energy curtailment at the Helios location.

The company reported a net loss of $35 million for 2023, a substantial improvement from the $229 million loss in 2022. This was largely due to a reduction of 49% in interest expenses, achieved through debt management efforts. By year-end, Argo had reduced its debt owed to Galaxy Digital to $23.5 million, with a total debt standing at $66.2 million.

"Despite a turbulent market, we have worked hard to strengthen our balance sheet and reduce Argo's debt burden by $22 million, or 63%, and improve our cash positions,” commented Thomas Chippas, the CEO of Argo.

In early 2024, Argo successfully raised $9.9 million through a share placement with institutional investors and sold its Mirabel, Quebec data center for $6.1 million, using the proceeds to reduce debt further. Preliminary Q1 2024 results show continued growth, with 319 Bitcoin mined and revenues nearing $17 million.

Mining Operations Post-Halving

As the cryptocurrency industry continues to evolve after the recent halving, Argo Blockchain remains focused on navigating challenges, optimizing operations, and positioning itself for long-term success in the competitive mining landscape.

“We exited the Bitcoin halving with a stronger balance sheet and leaner operations, and we are optimistic about the ongoing growth and development of Argo with a clear objective of delivering shareholder value,” Chippas added.

However, the new operating environment is not easy. After the fourth halving, Bitcoin recently underwent its initial difficulty adjustment, experiencing a rise of 1.99% and elevating the mining difficulty to a new record. The network’s difficulty level increased from 86.39 trillion to 88.10 trillion.

This article was written by Damian Chmiel at www.financemagnates.com.

Australia is preparing to join Bitcoin exchange-traded fund (ETF) bandwagon. The country's primary equity exchange, ASX Ltd, is anticipated to approve the launch of Bitcoin ETFs following similar approvals in the US and Hong Kong, Bloomberg reported.

Australia Prepares for Crypto ETFs

This year, US Bitcoin ETFs accrued an impressive $53 billion, reflecting a growing interest in cryptocurrencies among investors. Notable players like Van Eck Associates Corp. and BetaShares Holdings Pty are expected to introduce ETFs in Australia. The firms seek to capitalize on the crypto resurgence that recently pushed Bitcoin to a record high of over $70,000.

ASX, responsible for most equity trading in Australia, is reportedly evaluating applications for spot Bitcoin ETFs. Although the exchange has not confirmed the exact timeline, insiders suggest that approvals could come before the end of the year.

This move marks a significant milestone in Australia's crypto investment landscape. It could potentially create investment opportunities for institutional and retail investors. Australia's $2.3 trillion pension market is poised to play an important role in driving inflows into Bitcoin ETFs. Individual investors can diversify their portfolios because a substantial portion of retirement assets are under self-managed superannuation programs.

These self-managed funds could emerge as significant buyers of spot-crypto funds as interest in cryptocurrencies surges. Pensioners are expected to tap into the potential of digital assets as alternative investments.

Australia Renews Push for Bitcoin ETFs

While the surge in applications for Bitcoin ETFs marks a new chapter for Australia's crypto market, it is not the first time the country has attempted to launch crypto ETFs. Previous endeavors, such as Cosmos Asset Management's spot-Bitcoin ETF in 2022, experienced low uptake and were eventually delisted. However, the industry is optimistic due to the success of US Bitcoin ETFs and the evolving market dynamics.

Last year, Australia introduced a proposal to tighten regulations for cryptocurrency trading. Under the proposal, crypto exchanges operating in the country must obtain licenses from the Australian Securities and Investment Commission.

This initiative seeks to address concerns about consumer protection and the need to mitigate risks associated with the expanding crypto market. Exchanges holding assets exceeding US$ 3.2 million (AU$ 5 million) or managing funds totaling more than US$ 946 (AU$ 1,500) per individual must obtain the licenses.

This article was written by Jared Kirui at www.financemagnates.com.

Hot news: These changes have happened in the last hour.

In the last one hour Bitcoin is leading the record of among the most popular crypto-currency in the trading ecosystem, it has an decrease of -0.33% from its previous value from 6631.875 dollars now at 6609.990 dollars exchange rate. Next to Bitcoin is T..

The post Bitcoin $6609.990 – CryptoCurrency Trading Report – 24.09.2018 09:08 appeared first on CryptoCurrency Blog.

Hot news: The summaries of the last one hour are the followings:

Bitcoin is leading the rank on the most popular crypto-currency, it has an upsurge of 0.12% in its exchange rate, which means 6668.000 dollars from the 6660.008 dollars earlier. Tether is in the second position as Bitcoin leads the first spot. ..

The post Bitcoin $6668.000 – CryptoCurrency Trading Report – 24.09.2018 08:08 appeared first on CryptoCurrency Blog.

Hot news: Here we summon for you the changes of the market of CryptoCurrency from the last 60 minutes.

In the last hour, Bitcoin is leading the cryptocurrency rank. A fall in the exchange rate was seen from 6663.014 dollars to 6640.360 dollars a -0.34% change. Next to Bitcoin is Tether in the second position..

The post Bitcoin $6640.360 – CryptoCurrency Trading Report – 24.09.2018 07:08 appeared first on CryptoCurrency Blog.

Hot news: Here you can read the new CryptoCurrency report of the last 60 Minutes.

Bitcoin is leading the rank in the last hour as the most popular crypto currency in the trade market, with a recorded fall on its value of about -0.12% in the last hour with a current standing rate of 6674.850 dollars from 6682..

The post Bitcoin $6674.850 – CryptoCurrency Trading Report – 24.09.2018 06:07 appeared first on CryptoCurrency Blog.

Hot news: There were a lot of happenings in the last 60 minutes on the Crypto stock exchanges.

Bitcoin is listed as the most popular cryptocurrency in the market. In the last sixty minutes, it had an downswing of -0.19% on its trading price. This means from 6699.038 dollars now at 6686.310 dollars. Tether is..

The post Bitcoin $6686.310 – CryptoCurrency Trading Report – 24.09.2018 05:07 appeared first on CryptoCurrency Blog.

Hot news: Now we show you the newest summary of 60 minutes.

Bitcoin is now leading the rank on the most popular digital currency in the trade market. It has an decrease of -0% in its exchange rate from 6704.570 dollars now at 6704.570 dollars. Bitcoin is seconded by Tether, in a 60 minutes time it has a drop..

The post Bitcoin $6704.570 – CryptoCurrency Trading Report – 24.09.2018 04:07 appeared first on CryptoCurrency Blog.

Hot news: Here we summon for you the changes of the market of CryptoCurrency from the last 60 minutes.

Bitcoin was in the top position in the last hour, the exchange rate decreases from 6710.021 dollars to 6709.350. This is a -0.01% recorded change. Tether is at the second position next to Bitcoin, with a re..

The post Bitcoin $6709.350 – CryptoCurrency Trading Report – 24.09.2018 03:07 appeared first on CryptoCurrency Blog.

Hot news: These changes have happened in the last hour.

Bitcoin was in the top position in the last hour, the exchange rate increases from 6689.711 dollars to 6709.780. This is a 0.3% recorded change. Bitcoin is followed by Tether, with a -0.07% tumble on its trade value in the last one hour, equivalent to 0..

The post Bitcoin $6709.780 – CryptoCurrency Trading Report – 24.09.2018 02:07 appeared first on CryptoCurrency Blog.

Hot news: Here we summon for you the changes of the market of CryptoCurrency from the last 60 minutes.

The number one cryptocurrency leader is Bitcoin, this data was fetched in the last hour. It has an decrease on its trade value to -0.2%, now at 6687.450 dollars from 6700.852. Tether is at the second positi..

The post Bitcoin $6687.450 – CryptoCurrency Trading Report – 24.09.2018 01:07 appeared first on CryptoCurrency Blog.

Hot news: These are the changes of the CryptoCurrency market in the last one hour.

Bitcoin is now leading the rank on the most popular digital currency in the trade market. It has an increase of 0.05% in its exchange rate from 6689.215 dollars now at 6692.560 dollars. Tether is next to the leading crypto Bit..

The post Bitcoin $6692.560 – CryptoCurrency Trading Report – 24.09.2018 00:07 appeared first on CryptoCurrency Blog.

As a crypto analyst and frequent investor in the Greek digital currency market, I can confidently recommend Bcash for convenient and secure Bitcoin purchasing in Athens. With 10 strategically located crypto ATM hotspots spanning central Athens and the northern suburbs, Bcash enables instant access to leading cryptocurrencies like BTC, ETH, and USDT. Experience the Leading […]

The post Top 5 Bitcoin ATM Locations in Athens for Fast and Easy Crypto Access appeared first on CryptoNinjas.

Bitwise Asset Management, the largest crypto index fund manager in America, announced today that the Bitwise Bitcoin ETF (BITB), the firm’s first spot bitcoin ETF, intends to begin trading today, January 11th. BITB will join Bitwise’s comprehensive suite of 18 crypto investment products, which currently includes five other crypto ETFs. “We expect significant demand for […]

The post Bitwise launching spot bitcoin ETF (BITB) appeared first on CryptoNinjas.

It is no longer unusual to hear that a bank accepts savings in Bitcoin, Ethereum, and the like. Or that a loan company helps businesses with crypto. After all, the traditional financial and insurance industries were among the first to adopt cryptocurrencies. The latter ones have found more than one way to incorporate these means of payment […]

The post Cryptocurrency Payments for Insurance: Are Insurance Companies Really Embracing Bitcoin and Altcoins? appeared first on CryptoNinjas.

For some people, the word bitcoin still triggers an eye-roll, but by now, most of us know that cryptocurrency is here to stay. With that in mind, it’s a good idea to make sure you’re clued up and well-educated on the topic, especially if you’ve ever considered investing yourself. However, with so much misinformation floating […]

The post 4 Things We’ve Learned About Owning Bitcoin in 2023 appeared first on CryptoNinjas.

Today, Fuse Network, an enterprise-grade, use-case agnostic, decentralized EVM-compatible public blockchain, announced Liquify as its newest remote procedure call (RPC) provider and ecosystem partner. Liquify will provide public RPC services – both free and private. RPC nodes help process requests from decentralized applications (dApps). They are vital for improving the usability of web3 and for […]

The post Fuse Network welcomes Liquify as new blockchain infrastructure partner appeared first on CryptoNinjas.

Welcome to the world of BITmarkets – a leading cryptocurrency exchange offering a wide range of trading options for both retail traders and corporate clients. In this comprehensive review, we will explore the various features and services provided by BITmarkets, including spot, futures, and margin trading. Whether a seasoned trader or just starting your cryptocurrency […]

The post BITmarkets – Spot, Futures, Margin Trading with 150+ Cryptocurrencies appeared first on CryptoNinjas.

HashKey Exchange, the first licensed retail virtual asset exchange registered in Hong Kong, announced its official launch today. Together with executives from the HKSAR government, top-tier banks, insurers, and Big 4 auditing firms, HashKey held the grand launch in Hong Kong. Strictly adhering to the SFC’s user registration and KYC requirements, the HashKey Exchange platform […]

The post Hong Kong’s first licensed crypto exchange HashKey is now live appeared first on CryptoNinjas.

Adenasoft, a South Korea-based IT/software company, has just announced the launch of ACE, their new SaaS product designed for cryptocurrency exchanges. ACE fully prepares businesses for exchange operations quickly, taking less than a month to get up and running. ACE offers a comprehensive suite of features that enables crypto exchanges to streamline their operations and […]

The post Adenasoft launches new crypto exchange white label solution: ACE appeared first on CryptoNinjas.

This week, the team of Pods, a provider of structured products for crypto assets, unveiled its latest offering – the ETHphoria Vault. This innovative yield strategy is designed explicitly for ETH enthusiasts who are bullish about its future prospects and want to earn even more from increasing prices. ETHphoria is a low-risk, principal-protected strategy designed […]

The post Maximize Your ETH Investment: The ETHphoria Vault by Pods appeared first on CryptoNinjas.

The team of Pods recently announced the mainnet launch of its 3rd strategy on Pods Yield: FUD Vault, which now complements ETHphoria and stETHvv. FUD Vault provides a way for users to benefit from market downturns by offering a mechanism to hedge against significant price drops in ETH while preserving the deposited principal. Who is […]

The post Crypto traders can mitigate risk with PODS’ FUD Vault – now live on mainnet appeared first on CryptoNinjas.

DeFi Returns brings comprehensive up-to-date information on DeFi strategies and protocols, to easily compare and analyze their performance. Getting the most reliable data source for historical yield on DeFi, to help users make informed decisions when investing in the ecosystem. All data displayed is sourced from the protocol’s smart contracts directly. The new DeFi Returns […]

The post What is DeFi Returns? A new way of DeFi Investing appeared first on CryptoNinjas.

RockX, an Asia-based institutional-grade staking services provider, announced today the broadening of its staking product suite with the addition of a new ether (ETH) native staking solution. This latest offering strengthens RockX’s position as a comprehensive provider of diverse staking needs, maneuvering quickly to the evolving crypto market landscape. Navigating the Ethereum ecosystem presents institutions with […]

The post RockX broadens suite with launch of new ether (ETH) native staking solution appeared first on CryptoNinjas.

Hex Trust, a regulated institutional-grade crypto-asset custodian, today announced it has partnered with The Sandbox, a leading decentralized gaming virtual world to enable fully-licensed and highly-secure custody of assets such as LAND in The Sandbox’s metaverse. The partnership sees Hex Trust fully integrate LAND into its custody platform, Hex Safe, which supports cryptocurrencies, security tokens, and NFTs. […]

The post The Sandbox teams with Hex Trust for licensed, secure custody of its virtual assets appeared first on CryptoNinjas.

CoinFlip, a bitcoin ATM and crypto services company, announced today a new offering with the launch of ‘Olliv,’ a self-custody-powered crypto platform. The Olliv platform provides a frictionless way to buy, sell, send, receive, and swap cryptocurrency securely stored on a self-custodial wallet, removing the uncertainty of unknown third-party custodians. By leveraging CoinFlip’s existing network […]

The post CoinFlip launches new self-custodial cryptocurrency wallet platform ‘Olliv’ appeared first on CryptoNinjas.

Deribit, a popular cryptocurrency derivatives platform, has announced the launch of zero-fee spot trading, allowing clients to buy and sell crypto while simultaneously managing risk using other derivatives. Spot trading will start on April, 24th 2023 at 1 PM UTC with three pairs (BTC/USDC, ETH/USDC, and ETH/BTC), providing clients with a simple and free solution […]

The post Crypto derivatives exchange Deribit to launch zero-fee spot trading appeared first on CryptoNinjas.

Japan-based banking giant Nomura, announced today that its digital assets subsidiary, Laser Digital, has made a strategic investment in Infinity, a non-custodial interest rate protocol built on Ethereum. Infinity’s wholesale exchange, the first of several planned infrastructures, provides inter-exchange clearing, fixed and floating rate markets, as well as enterprise-grade risk management utilizing hybrid on-chain/off-chain infrastructures […]

The post Nomura’s Laser Digital invests in Infinity, an Ethereum-based money market protocol appeared first on CryptoNinjas.

Blocknative, a real-time Ethereum (ETH) infrastructure platform, has newly introduced features including transaction bundle send, cancellation, and replacement support for the Blocknative Builder. Searchers can now submit MEV bundles privately to the Blocknative Builder to be included on-chain. This market utility builds upon Blocknative’s reliable, real-time infrastructure that is systematically important to the Ethereum ecosystem. […]

The post ETH infrastructure platform Blocknative adds TX bundles, cancellation, and replacement support appeared first on CryptoNinjas.

Eventus, a provider of multi-asset class trade surveillance and market risk solutions, announced today that cryptocurrency derivatives exchange Deribit has chosen the firm’s Validus platform to provide market abuse monitoring on the exchange. Headquartered in Panama City, Panama, Deribit is one of the largest cryptocurrency options exchanges by volume and open interest, with approximately 90% […]

The post Crypto derivatives exchange Deribit to put in place trade surveillance platform from Eventus appeared first on CryptoNinjas.

Gemini, the popular bitcoin & crypto exchange company, today announced the launch of electronic over-the-counter trading (eOTC), an automated crypto trading solution designed for institutions. The Gemini eOTC solution offers a variety of advantages to institutional traders including: Competitive Pricing & Execution: Liquidity is sourced from top-tier liquidity providers with deep liquidity pools, enabling counterparties […]

The post Crypto exchange Gemini launches new electronic OTC trading solution appeared first on CryptoNinjas.

GenTwo Digital, the crypto-asset securitization platform based out of Crypto Valley in Zug, Switzerland, today announced a partnership with Coinbase, the publicly-listed cryptocurrency platform. This new partnership for GenTwo Digital allows all Coinbase crypto assets to be wrapped in bankable financial investment products and enables financial intermediaries to issue certificates such AMCs (Actively Management Certificates). […]

The post Crypto securitization platform GenTwo links to all Coinbase assets appeared first on CryptoNinjas.

ThunderCore, a leading blockchain & web3 ecosystem announced today that they are making a new development push, partnering with new validators as the chain rolls out its new crypto staking model. The newest ThunderCore validators include the famous crypto-asset exchange Huobi and one of the earliest staking platforms in the space, MyCointainer. Users of both […]

The post Blockchain ecosystem ThunderCore teams with Huobi and MyCointainer in node expansion appeared first on CryptoNinjas.

Pods, creators of a DeFi platform, announced today that earlier this year, the team raised $5.6M in seed funding to create structured products for crypto-assets. The financing featured investors such as IOSG, Tomahawk, Republic, Framework Ventures, and more. The first strategy on Pods Yield is stETHvv (Ethereum Volatility Vault). stETHvv is a low-risk product focused […]

The post DeFi protocol Pods raises $5.6M to support its structured crypto products dApp appeared first on CryptoNinjas.

Deribit, the popular cryptocurrency derivatives exchange, announced today it has launched a new ‘Proof of Reserves‘ tool for clients using the trading platform. Now, clients are provided with the functionality to verify their assets to be included in Deribit’s overall reserves. How it Works Deribit provides all addresses for all on-chain assets and it delivers […]

The post Crypto derivatives exchange Deribit releases new client verification of assets tool appeared first on CryptoNinjas.

Tenderly, creators of a blockchain development platform, today announced that it is the first web3 development platform to offer simulations through RPC on its Tenderly Web3 Gateway, the company’s production node as a service. Note, Tenderly already processes more than 50 million simulations per month through its Transaction Simulator. Now, the company is introducing the […]

The post Tenderly introduces TXN simulations on its blockchain gateway for efficient dApp development appeared first on CryptoNinjas.

DFINITY Foundation, the not-for-profit organization contributing to the development of the Internet Computer (IC) — a high-speed, internet-scale public blockchain — has announced today the Internet Computer’s mainnet integration with Bitcoin, bringing smart contract functionality to the cryptocurrency. Now, the Internet Computer can serve as a layer-2 for Bitcoin where smart contracts on the Internet […]

The post DFINITY brings new smart contract functionality to Bitcoin with Internet Computer integration appeared first on CryptoNinjas.

The blockchain analytics firm will provide tools to spot sanctioned and illicit activity and provide market information.

According to Senators Elizabeth Warren and Angus King, the Iranian government has used funds from crypto mining to fund terrorist organizations.

The Atomicals protocol provides a transparent, secure record of ownership and history for Bitcoin NFTs.

Representatives Mike Flood and Wiley Nickel urged the SEC's chair Gary Gensler to stop discriminating against Bitcoin funds in a letter.

Need to know what happened in crypto today? Here is the latest news on daily trends and events impacting Bitcoin price, blockchain, DeFi, NFTs, Web3 and crypto regulation.

Bitcoin price shows signs of a recovery, but analysts are uncertain whether the strongest part of the correction has passed.

The Telegram-TON hookup opens up a broad spectrum of Web3 opportunities for Telegram’s 900 million monthly users, Pantera Capital said.

Mr. 100, an entity previously identified as Upbit, has bought over $147 million worth of Bitcoin for the first time since the halving, suggesting an end to the current retracement.

A judge in Nigeria reportedly adjourned proceedings in a case against Binance and two executives until May 17 to allow lawyers to review certain documents.

Deep fake nudes to be outlawed in UK and Australia, pick up artists fake big live stream audiences to meet women, plus more news: AI Eye.

Bitcoin bulls see signs of the worst being over as a BTC price bounce gathers pace toward $60,000.

Binance has exchanged a diversified $1 billion crypto portfolio in SAFU funds into USD Coin.

Today, the price of Solana has risen, propelled by a series of positive announcements related to the network and the Fed's decision to forego rate hikes in 2024.

Stronghold announced its first quarter results for 2024 and revealed that it is considering a range of options to increase shareholder value including selling the business.

MoonPay users in the U.S. can now buy and sell 110 different cryptocurrencies using PayPal transfers via wallet, bank transfers or debit cards.

The growing interest in Runes and Bitcoin DeFi will drive more activity to layer-2 networks, according to Stacks’ product manager.

Making the token nontransferable could force users to pay the 1.5% Friend.tech platform fee in an “ironic” shift from the platform’s non-venture capitalist approach.

Shorting Bitcoin on Binance and Coinbase is akin to a high-stakes gamble where mastering margin trading and futures contracts is key to tilting the odds in your favor.

The hacker holds about $4.3 million in various crypto assets in their Ethereum wallet.

The Bitcoin halving is widely expected to have a positive impact on the price of the preeminent cryptocurrency, but analysts expect volatile price consolidation in the short term.

Despite the excitement around the Hong Kong ETF debut, the inflows are only a fraction of the outflows from U.S. ETFs. Could the Bitcoin price revisit the $50,000 mark next?

In a statement, Microsoft said it will collaborate with the Malaysian government to establish a “national AI Center of Excellence” and improve cybersecurity capabilities.

The law enforcement agency managed to track the funds linked to the E-Nugget scam app to different crypto exchanges and, with their help, seized over $10.5 million in crypto assets.

LayerZero’s ZRO perpetual futures contract is trading at $8.6 on Hyperliquid, the world’s largest perps DEX, suggesting a potential $17 billion fully diluted valuation.

BTC price action spooks ETF investors, data shows, but there is reason to believe that Bitcoin is seeing a broadly healthy correction.

Bitfarms is actively working to triple its current hash rate capacity to 21 exahashes per second with a $240 million investment.

The FBI arrested a New York resident for defrauding investors of at least $43 million in a multi-year Ponzi scheme that included a Las Vegas hospitality business and crypto trading operation.

Pike highlighted that the exploit occurred due to their team’s inadequate integration of third-party technologies such as the CCTP or Gelato Network’s automation services.

Patricia came under scrutiny following a hacking incident in May 2023, which led to a significant loss of customer funds.

Arkansas Governor Sarah Huckabee Sanders is expected to sign the bills into law, which will regulate miners’ noise, water use and licensing.

As Bitcoin slumps, on-chain data by Ki Young Ju, the founder of the blockchain analytics platform CryptoQuant, paints a stark picture: all new whales, including holders of spot exchange-traded funds (ETFs), are now underwater.  New Whales And Spot ETF Investors Are In Red Taking to X, Ju said that more losses would be incoming, predicting that HODLers will find “max pain” at around $51,000. The dip is less than $10,000 from spot rates, suggesting that although there are cracks, the correction might not be deep. Related Reading: Whales Dive In, But Dogecoin Price Sinks 20%: What’s Going On? This overview is welcomed, considering the recent sell-off. Even so, predicting price bottoms in a fast-moving market influenced by multiple forces is tough. As price action stands, Ju says believers may take the opportunity to double down on the coin. The founder adds that the current price discount presents an opportunity for savvy investors to outperform traditional finance whales, including institutions with BTC exposure via spot ETFs in the United States.  Bitcoin is under immense liquidation pressure at the time of this writing. Though bulls soaked up the sell-off earlier today, the coin remains within a bearish breakout. Prices are trading below the support zone of between $60,000 and $61,000 and below April 2024. Inflow To Spot Bitcoin ETFs Decline As Sentiment Deteriorate This formation suggests that though bulls are optimistic, the path of least resistance remains southwards for now. BTC dropped after posting impressive returns from October 2023 to March 2024, when prices peaked. Some analysts think the current cool-off is inevitable following sharp gains in the last six months. The fact that whales are underwater was unexpected, considering the state of affairs in the last week of April. Then, the inflow from new whales nearly doubled the cumulative holdings of older whales. Analysts said this influx of fresh capital pointed to growing institutional interest. However, looking at the current price action, new whales are now in the red territory, and their excitement seems to wane.  Related Reading: Bitcoin Bull Run Over? Analyst Predicts What To Expect Now According to Lookonchain data, inflow into the eight-spot Bitcoin ETFs, including BlackRock, has stalled. On May 1, all issuers, including Grayscale via GBTC, decreased by 1,950 BTC. Of note is that BlackRock’s IBIT has not seen inflows for five straight days. Still, confidence abounds. Inflows into spot Bitcoin ETFs are highly influenced by sentiment, which rests on how prices perform. If BTC shakes off the current weakness and tears higher in the expected post-Halving rally, spot ETF issuers will begin receiving new inflows.  Feature image from DALLE, chart from TradingView

The Bitcoin price continues to trend below $60,000 as a 20% decline triggered a brutal market-wide crash. This has exposed multiple critical support points for the cryptocurrency, some of which the price has already fallen below. In light of this, a crypto analyst known as Norok has revealed the level the BTC price must not fall below to maintain its bullish trend. Bitcoin Price Must Hold Above $51,800 In an analysis posted on the TradingView website, crypto analyst Norok revealed that $51,800 is now the most important support level for Bitcoin. Norok pointed out that Bitcoin has since returned to its last support level which was last seen in December 2023, making this a crucial support. In the meantime, the support that had been built up by bulls at the $62,000 level has since been broken by bears and has now been turned into resistance. Nevertheless, the crypto analyst does not believe that the Bitcoin price has turned bearish, despite the crash that has rocked the crypto market. For Norok to turn bearish, he stated that the BTC price would have to break down below support at $51,800. According to him, such a move will invalidate whatever bullish thesis is in play for Bitcoin, ending the bullish trend of 2023-2024. Source: TradingView.com In the short term, Norok identifies $56,900 as a level that bulls must hold. He explains that this could help to reinforce the current bullish trend. “Price must hold here at this Support and then it can recapture the cloud to resume to Bullish Trend,” the crypto analyst said. “This is a highly decisive moment in Price action today.” BTC Suffers As A Result Of ETF Outflows One major driver of the Bitcoin price decline in the last few weeks has been a turn from inflows to outflows in Spot Bitcoin ETFs. Since these ETFs require the issuers to hold BTC to support the assets they are selling to investors, inflows are incredibly bullish as these issuers have taken to buying BTC to fulfill this requirement. However, with investors beginning to withdraw their funds, the reverse has been the case, leading to a high selling pressure in the market. Spot Bitcoin ETFs have now recorded six consecutive trading days of outflows, reaching an all-time high outflow record $563.7 million on Wednesday, according to data from Coinglass. Source: Coinglass If these outflows continue, then the BTC price could continue to decline, and at the current rate, the pioneer cryptocurrency might be testing Norok’s $51,800 soon enough. However, a turn toward inflows would mean issuers have to buy BTC and this can translate to a price recover. BTC price pushes to $59,000 | Source: BTCUSD on Tradingview.com Featured image from Kiplinger, chart from Tradingview.com

An analyst has explained how the “fair value” of Bitcoin appears to be on track to achieve the $1 million milestone by 2035. Bitcoin Total User Count Could Forecast Fair Value Path Forward In a new post on X, analyst Willy Woo has discussed about how the fair value of Bitcoin could look like in the future based on the growth curve in the total user count on the network. Related Reading: Bitcoin Greed No More: Sentiment Back At Neutral After $57,000 Plunge The “total user count” here refers to the total number of investors present in the BTC space. Often, this metric is equated with the total number of addresses on the network carrying a balance, but in reality, it’s not the most accurate method as a lot of investors own multiple wallets. To make an estimation of an adoption curve, Woo has referred to all past studies done on the user count. The analyst shared the below chart in an X post a few days back. The adoption curve of the cryptocurrency over its entire history | Source: @woonomic on X The early part of the chart here is based on Glassnode’s on-chain clustering of addresses into “entities.” An entity is a collection of Bitcoin wallets that Glassnode has determined to belong to the same investor. For the next part of the curve, Woo has added the Cambridge and Crypto.com data on verified exchange users. Finally, the analyst has projected the resulting growth rate forward. According to this curve, there are a total of 426 million Bitcoin investors at the moment, with the number estimated to hit the 0.5 billion milestone by October of this year. Interestingly, the price of the cryptocurrency has been oscillating around this total user count growth curve throughout the years, as the below chart depicts. The adoption curve of the asset compared against its price action | Source: @woonomic on X More specifically, this oscillation in the price around the adoption curve of the cryptocurrency has existed since 2012. This means that in the pre-2012 period (the shaded region in the graph), this pattern doesn’t quite hold. “In the early days price was slow to catch up to user count, BTC didn’t even have a price until the 1000th user came in,” notes Woo. “Price discovery started with early markets like New Liberty Standard and MtGox. By Aug 2011 Bitstamp launched and we had multiple global exchanges to properly price the asset.” Now, if the growth curve of Bitcoin is taken as a guide for its future value as well, then the analyst projects a $1 million per BTC fair value by the year 2035. “Fair value” here is based on the line around which the asset has been oscillating. Related Reading: Crypto Analyst Predicts 244% Shiba Inu Rally Based On Bull Flag From the chart, it’s visible that BTC has historically gained distance over this line during bull markets, so the peak value in future rallies can be significantly more than this fair value. It now remains to be seen how the price of the cryptocurrency will develop in the coming years and whether this relationship between it and the total user count will continue to hold or not. BTC Price Bitcoin has observed a plunge of more than 8% over the past week, which has brought its price down to $58,600. Looks like the price of the coin has registered a sharp drop recently | Source: BTCUSD on TradingView Featured image from iStock.com, chart from TradingView.com

Cryptocurrency analyst Rekt Capital has come up with an intriguing narrative pointing to several trends in the current price action of Bitcoin that are similar to the price trends seen in the 2016 bull cycle, even as market sentiments continue to dwindle.  Bitcoin Trends Reiterating 2016 Pattern According to Rekt Capital, more than a month after the initial analysis, Bitcoin keeps demonstrating how much it closely resembles the cycle of 2016. Similar to 2016, Bitcoin has experienced further declines over the past three weeks following the Halving below the Range Low of its Re-Accumulation Range also known as the Post-Halving Danger Zone The post read: Over a month later Bitcoin continues to prove how it is more similar to the 2016 cycle. Just like in 2016, Bitcoin in this cycle is seeing additional downside below the Range Low of its Re-Accumulation Range in the three-week window after the Halving (i.e. Post-Halving “Danger Zone”). Given that Rekt Capital already addressed the concept of the Post-Halving Danger Zone, the analyst is not shocked by this current price decrease. During the 2016 cycle, about 21 days after the Halving event, BTC saw a lengthy decline of 11% before transitioning toward an upward direction. It is worth noting that Rekt Capital noted that if downside volatility around the Re-Accumulation Range Low is going to happen in this cycle, 2016 history indicates it may happen during the 15 days following the Halving. Since the recent event was concluded about 12 days ago, the expert’s prediction could be realized in the upcoming days. Related Reading: Bitcoin Enters ‘Danger Zone’ Post-Halving, Analyst Warns Of Potential Downside While the Post-Halving “Danger Zone” ends in 15 days, 2016 data suggests that there may be some negative volatility in the interim, possibly reaching the $60600 Range Low. Drawing attention to previous patterns, Rekt Capital highlighted a similar pattern between the 2016 and 2024 pre-Halving re-accumulation range. After a breakout from the re-accumulation range this year, BTC witnessed a Pre-Halving rally, as was observed in 2016. Pre-Halving Retrace Movement Just like in 2016, once the pre-Halving rally peaked, Bitcoin started its Pre-Halving retrace. Specifically, this occurred roughly 28 days prior to the Halving event in both 2016 and 2024. Related Reading: Analyst Warns Of Bitcoin Pre-Halving Retrace Echoing Troubling 2020 Trend A negative wick on the weekly candle indicates a significant reaction in the first week of the pre-Halving Retrace in 2016. However, this reaction was fleeting and came before an extended price decline. This cycle likewise saw a strong early reaction from Bitcoin via a downward wick, but there are indications that this reaction might not have lasted long. Thus, to avoid a fate similar to that of 2016, Rekt Capital believes that BTC will need to maintain highs around $60,000 and beyond. Featured image from iStock, chart from Tradingview.com

On-chain data recently showed that Ripple carried out its monthly escrow unlock for May. As expected, this has raised concerns about how it could affect the XRP price, especially since Ripple has been accused of manipulating the token’s price.  Ripple Unlocks 500 Million XRP Tokens Onchain data revealed 500 million XRP tokens were unlocked from Ripple’s escrow on May 1. The crypto firm is known to unlock 1 billion tokens monthly, although it looks to have only unlocked half this time around. The magnitude of these tokens always raises concerns, considering the negative impact they could have on the altcoin’s price if dumped on the market.  Further analysis of the on-chain data shows that Ripple sent 300 million XRP out of the unlocked tokens to an escrowed account (2Not4co2op). Meanwhile, the crypto firm sent the remaining 200 million XRP tokens to another wallet (4vt5x1o91m). Considering that the 200 million XRP tokens weren’t sent to escrow, Ripple may have plans to sell them at some point, although it has yet to do so.  It is also worth mentioning that Ripple received another 500 million XRP tokens from an unknown wallet (ymFZmKxEsF). However, these funds were immediately sent to an escrow account. As such, the community can heave a sigh of relief since most of the XRP tokens Ripple received in the last 24 hours have been sent back to escrow.  Talks About Ripple Dumping On The Market Resurface Following the latest token unlock, the crypto community has reignited talks about Ripple’s alleged dumping on XRP holders. The question of whether or not Ripple’s XRP sales influence the token’s price has been a long-standing discussion, with notable figures like pro-XRP crypto YouTuber Jerry Hall even accusing Ripple of intentionally suppressing the altcoin’s price with its sales.  On the other hand, people like Ripple’s Chief Technology Officer (CTO) have clarified that the crypto firm’s XRP sales do not impact the crypto token’s price. Moreover, Ripple already discontinued programmatic sales, which means that its transactions cannot affect prices on crypto exchanges.  Ripple also noted in its recent court filing in its ongoing legal battle against the Securities and Exchange Commission (SEC) that it had taken measures to ensure its institutional sales did not violate securities laws. This suggests that Ripple conducts its sales over the counter (OTC) to avoid further scrutiny from the Commission.  At the time of writing, the token is trading at around $0.5, up over 2% in the last 24 hours according to data from CoinMarketCap.  Price rises above $0.51 | Source: XRPUSDT on Tradingview.com Featured image from The Motley Fool, chart from Tradingview.com

An analyst explained how Shiba Inu could be heading towards a massive rally based on a bull flag pattern that forms in its daily chart. Shiba Inu Has Been Consolidating Inside A Bull Flag Recently In a new post on X, analyst Ali has discussed about a bull flag that has recently appeared in the daily price of Shiba Inu. The bull flag is a pattern in technical analysis (TA) that, as its name suggests, is shaped like a flag on a pole. The pattern forms when an uptrend is followed by a period of consolidation inside a parallel channel toward the downward direction. The starting uptrend makes up for the pole, while the channel acts as the flag. Related Reading: Bitcoin Greed No More: Sentiment Back At Neutral After $57,000 Plunge Like other TA patterns, the consolidation channel or flag here comprises two parallel lines. The upper level connects the price tops, while the lower one joins the bottoms. When the asset retests either of these levels, it’s probable to undergo a reversal, with the upper line of the channel acting as a point of resistance and the lower one as support. A break above the resistance line is considered a bullish signal for the price. The uptrend resulting from such a break may be the same length as the flag’s pole. On the other hand, a drop below the flag (that is, a breakdown of support) invalidates the formation and may even suggest the takeover of bearish momentum for the asset. Similar to the bull flag, there is also the bear flag in TA, which works much in the same way, except that it occurs during a downtrend (with the flag signifying consolidation towards the upside following a downward pole). Now, here is the chart shared by Ali that shows the bull flag pattern Shiba Inu has potentially been forming on its daily price recently: The formation that the memecoin's price has been displaying during the last few weeks | Source: @ali_charts on X From the graph, it’s clear that the Shiba Inu 1-day price has been consolidating inside what appears to be a bull flag pattern channel in the past few weeks. “I’m placing buy orders around $0.000018343, aiming for a bullish breakout that sends $SHIB to $0.000072323,” says the analyst. The former level is about where SHIB should meet the flag’s support next if it continues in its current trajectory, while the latter target is based on the height of the pole. Related Reading: Bitcoin To $92,190: Crypto Analyst Reveals Path To ATH Target A run to the bullish target of $0.000072323 would imply a rally of more than 244% from the current spot price of the cryptocurrency, while from the lower support of $0.000018343, any such surge would correspond to a growth of over 294%. It remains to be seen whether Shiba Inu will show a break above this bull flag pattern and, if it does, whether the price will benefit from bullish effects. SHIB Price At the time of writing, Shiba Inu is trading around $0.00002110, down more than 18% over the past week. Looks like the price of the coin has been heading down over the last few days | Source: SHIBUSD on TradingView Featured image from Traxer on Unsplash.com, charts from TradingView.com

Dogecoin (DOGE), the Shiba Inu-faced darling of the 2021 memecoin frenzy, has found itself shivering in the current crypto winter. Once a symbol of retail investor exuberance, DOGE has plummeted over 70% from its sky-high peak, leaving its future shrouded in uncertainty. Related Reading: Bitcoin Slide Over? Top Analysts Unanimously Call $56,000 The Bottom DOGE Feels The Crypto Frost While Bitcoin, the heavyweight champion of the crypto world, grabs headlines with its recent wobble, the impact on memecoins like DOGE has been brutal. Unlike Bitcoin’s divided analyst opinions, the sentiment surrounding DOGE is decidedly bearish. At the time of writing, the memecoin was trading at $0.132, down 5.4% up the last 24 hours but sustained a 20% loss in the last seven days, data from Coingecko shows. Dogecoin price action in the last 30 days. Source: Coingecko Is DOGE A Canary In The Crypto Coal Mine? Some analysts believe DOGE’s struggles are a canary in the coal mine for the entire crypto market. They said if even a historically high-flying memecoin like Dogecoin can’t hold onto gains, it raises serious concerns about risk appetite in the crypto space in general. Dogecoin market cap currently at $18 billion. Chart: TradingView.com Whales Accumulating DOGE: A Glimmer Of Hope? However, a glimmer of hope flickers for the dethroned meme king. On-chain data suggests an increase in large wallet purchases of DOGE, hinting at potential accumulation by wealthy investors. This “contrarian” behavior could be a sign that some whales are using Coinglass or similar platforms to track Dogecoin derivatives and believe the coin is undervalued and ripe for a comeback. Source: Coinglass Coinglass, a popular cryptocurrency data provider, offers insights into factors that might be influencing the whales’ decisions. By analyzing metrics like open interest, funding rates, and liquidations on Coinglass, these investors might see an opportunity to buy DOGE at a discount. Related Reading: Solana Crawls: Network Update Fails To Fix Traffic Jam, Price Feels The Pinch In a similar development, Whale Alert, a well-known blockchain tracker, has reported that a DOGE whale arranged two large transactions in a single day. Some 150,000,000 Dogecoins were transferred in the first transaction, and an additional 76,316,694 DOGE were transferred in the second, for a total of almost 226 million DOGE. At the time, the meme cryptocurrency was worth around $40 million in fiat money. 🚨 150,000,000 #DOGE (21,281,922 USD) transferred from #Robinhood to unknown wallethttps://t.co/7U1CEfr2ZT — Whale Alert (@whale_alert) April 29, 2024 Can Dogecoin Thaw The Crypto Winter? The coming weeks will be critical for DOGE. The return of positive social media sentiment, coupled with continued accumulation by whales who might be strategically using Coinglass for market analysis, could be the spark that reignites the DOGE rally. However, if the broader market weakness persists, DOGE’s summer might be spent shivering in the doghouse. Featured image from Pixabay, chart from TradingView

Coinbase won approval to offer cryptocurrency derivative trading to U.S. retail customers, fueling much hope and momentum to the $2.1 trillion cryptocurrency derivative market.  Coinbase’s approval arrived following a significant decline in derivative trading volume due to economic uncertainties, regulatory struggles, and a reduction in risk from high wealth accounts and retail traders.  Derivative trading, such as futures, options, and others, has dominated the cryptocurrency market since 2014 as investors snap at the opportunity to place bets with little investment for a higher percentage return. A large percentage of the derivative market is influenced by retail traders, fueled by manic meme-stock trading and social media trends on platforms such as X, YouTube and Reddit. Although heavily favoured by institutional investors, who have maintained a fair, open position in the derivative market, Bitcoin exchange-traded funds (ETFs) make up a large share of traded assets.  Futures and options trading have had a fair share in the derivative market, but the recent dominance of copy trading is often cited as a key reason for the high volume of the derivative market over the past few months. Copy trading is slowly evolving into a big tool for retail traders looking to explore the derivative market, as many of these traders favour automated trading over spot or manual trading.   The data from Margex highlights much attention shifting to copy trading as a new strategy for retail traders looking to increase their profitability while leveraging an experienced trader to produce great profit returns with a profit share automated for both the user and pro trader.  Copy Trading And Gen Z Influence On The Derivative Market Copy trading involves users replicating the trading strategies of expert traders. This method allows users to diversify their portfolios, minimize risk, and increase their profitability in the financial market while trades are executed automatically and instantly.  The idea of copy trading is to enable users to benefit from the knowledge and skills of well-experienced traders. The users work to enhance their trading outcomes or build better trading or investment skills.  Research has shown that 44% of traders are copy traders, signifying an extreme surge of copy trading solutions in the last few years and is greatly influenced by the social age experiencing exponential growth as web3 technologies evolve.  Social media and Generation Z users (GEN Z) have amplified the popularity of trading strategies like copy trading through investment threads on X, Reddit, and even YouTube channels, with over 500,000 community individuals actively participating in such financial market discussions.  Through social media and online communities, young users have seen a high demand for copy trading as their interest grows through the consumption of financial information. This shows the social aspect significantly influences the adoption of copy trading.  By leveraging on the power of online communities and social aspects of trading, copy trading eliminates the rigorous learning phase of analyzing trades for retailers, simplifies trading processes and improves strategies to remain profitable.  Copy Trading A Community Building Tool  Investors and retail traders have a long history of following the leader or forecaster of the financial market, be it for short-term, medium-term, or long-term portfolio moves. Copy trading has long existed, with many sharing trade ideas or mimicking the trades of experienced traders such as Warren Buffet.  These patterns in the past among retailers are seen in the present generation as many retailers or users follow well-experienced traders to replicate their open positions.  With more retail traders adopting copy trading, it remains a dominant strategy in the derivative market compared to the spot market. Over 91% of futures trading participants are actively involved in copy trading while recording over 92% of profit returns.  According to CCData, the growth of the cryptocurrency derivative market has been influenced by retail traders’ demand for more innovative trading strategies, such as automation tools (copy trading) and AI algorithms, to enhance their trading approach. Many centralized exchanges recorded a new peak of $2.3 trillion in the derivative market.  CCData has shown much adoption in the derivative market as compared with spot trading. A large community of retail traders is approaching copy trading to earn a great profit on their investment. Over the past few years, the copy trading community have earned a profit margin of over 74 million USDT, reflecting increased engagement and the copy-trading method by retailers in the derivative market.  Many crypto trading platforms have adopted copy trading to fill the needs of retail traders looking for improved and robust trading methods to boost profitability. Margex, a copy trading platform, remains at the top of the list of copy trading platforms for these users.  Margex A Next-Gen Copy Trading Platform Margex is a next-gen copy trading platform built to help its users recreate success by mirroring the trades of experienced traders in the crypto industry on its intuitive platform.  Margex’s adaptation to better copy trading strategies that many exchanges lack has been a big boost for many retailers. This will address the high demand of users looking for automated approaches to enhance trading results while diversifying their portfolios to maximize profitability. To demonstrate its seriousness about providing the best services to users, Margex has spent over $3 million to build its copy trading platform with keen attention to usability. It also has a zero-fee converter that enables users to swap tokens easily, and a more ultra-modern wallet will soon be introduced for users to manage assets within a secure platform.  Follow this three simple step guide on participating in the Margex copy trading platform and replicating the trades of more experienced crypto traders.  1 Create An Account With Margex  Creating an account with Margex guarantees you the best copy trading experience as it is out to protect the interest of its copy trading users and provides a diverse range of skillful traders you wish to copy their trades.  2 Select Your Traders  Once logged in, navigate to the copy trading page to explore the copy trading leaderboard to select top-performing traders over time. Evaluate its performance metrics, such as followers, traders’ equity, return on equity (ROE), and strategies that align with your risk appetite and investment plans.   3 Allocate Funds  After choosing a trader to follow and confirming your strategy, allocate some funds to replicate their trades. Margex platform mirrors all trades automatically and in real-time.  As low as $10 is the minimum amount Margex requires to participate in copy trading strategies. 

The recent plummet in Bitcoin’s value below the $60,000 mark has sparked widespread speculation within the crypto community, raising questions among investors and market watchers about the future direction of its price. Marco Johanning, a well-known crypto analyst and founder of The Summit Club, took to X (formerly Twitter) to provide his insights on the current market conditions and what might be expected next. According to Johanning, the recent price action does not signify a market downturn but rather a correction within an ongoing bull market. He emphasizes, “Bitcoin lost the range. What now? First and foremost, a reminder: we are in a bull market, and this is a correction. This is not a rally in a bear market. Or in other words, the high time frame trend is up no matter what.” He supported this assertion with several indicators of a continued bullish trend. First, Bitcoin reached its bear market bottom in November 2022 and subsequently broke above the 200-day moving average, a critical indicator of long-term market trends. Following a drop below the 200-day moving average, there was a significant breakout above this level and THE major high time frame resistance in October 2023. Related Reading: Bitcoin Price Dips Below $57,000: 4 Key Reasons Moreover, Bitcoin achieved a new all-time high in March 2024. Over the last 18 months, Bitcoin has consistently recorded higher highs and higher lows, which are typical characteristics of a bullish market. “This can’t be a bear market,” Johanning explained. “These elements underscore a fundamental bias crucial for assuming that the current drop is part of a broader bull market trend. Therefore, Bitcoin will eventually find a local bottom and ascend higher.” Bitcoin Price Analysis: What To Expect Next? Johanning provided a detailed breakdown of possible future scenarios based on technical analysis. His first scenario is based on the monthly chart where the most crucial level is at $48,000-$49,000. This level is key because it was a major hurdle overcome in February 2024. Now, it might serve as the perfect point for a bullish retest. Furthermore, there’s a significant market imbalance down to the $48,000-$49,000 range, coinciding with the 0.5 Fibonacci retracement level from the last monthly swing low. This setup suggests a strong potential for price stabilization and reversal at this level, according to Johanning. The second scenario grounds on the weekly chart where the important level is at $52,000. This level acts as a major high time frame support/resistance, marked by a weekly imbalance that extends up to $52,000, and it matches the 0.382 Fibonacci retracement from the bottom to the top of the last major rally, and the 0.618 level from the last swing low to the top. The third scenario is based on the lower timeframes. Here, the most significant level is at $57,000. This mark is critical as it represents the 0.5 Fibonacci level from the last swing low and was a key area during the February climb. This level might serve as the stage for a potential deviation or price trap. “The recent bearish engulfing pattern breaking the monthly levels, followed by a bearish retest, signals significant market shifts,” noted Johanning. “If Bitcoin swiftly reclaims these key levels, particularly the $57,000 mark, we could see a deviation scenario unfold. Otherwise, the $52,000 or $48,000-$49,000 levels will likely be tested, each representing a higher low in the ongoing uptrend.” Related Reading: Bitcoin Is Fine As Long As It Holds Above $49,000: Analyst Impact on Altcoins And Market Strategy Altcoins have displayed remarkable resilience in the face of Bitcoin’s volatility, which Johanning finds particularly promising. “Usually, a significant drop in Bitcoin accompanied by a loss of a higher time frame range would lead to severe declines in altcoins. However, their strength yesterday is a good indicator that the worst may be over for altcoins,” he commented. Johanning concluded his analysis with an optimistic outlook for both Bitcoin and altcoins, expressing confidence in the continuation of the bull market. He is actively accumulating more at current prices, anticipating substantial returns: “No matter which scenario plays out, I am committed to this trend until proven otherwise. I’m investing heavily, and if we truly remain in a bull market, the potential for profit is tremendous.” At press time, BTC traded at $58,328. Featured image created with DALL·E, chart from TradingView.com

Bitcoin (BTC) has been battered by a relentless bear market over the past month, with its price tumbling 20% from its record highs. However, amidst the carnage, glimmers of hope emerge as prominent analysts predict a potential bottom forming around the current $57,000 mark. Related Reading: Solana Crawls: Network Update Fails To Fix Traffic Jam, Price Feels The Pinch Tough Opening Month For Bitcoin The start of May has not been kind to Bitcoin. The once-dominant cryptocurrency has seen a steady decline, plunging back to levels last witnessed in March before its monumental surge to $73,700. This recent price drop represents the most significant decline of this cycle, raising concerns about a prolonged bear market. The pain extends beyond Bitcoin, with the broader altcoin market feeling the tremors. Litecoin (LTC), the silver to Bitcoin’s gold, has mirrored the downward trend, shedding a staggering 25% of its value in the past month. While historically seen as a more stable alternative to Bitcoin, Litecoin seems to be tethered to its big brother’s fate in this current downturn. Finding The Bottom: Bullish Predictions Surface Despite the prevailing gloom, a chorus of optimism is rising from the crypto analysis community. Several heavyweight analysts believe Bitcoin may have found its footing around the current price range of $56,000 to $58,000. Rekt Capital, a popular crypto analyst, emphasizes a historical pattern where similar 20% dips have been followed by significant rebounds. Michaël van de Poppe, another well-respected voice, echoes this sentiment, suggesting Bitcoin may be nearing the end of its price consolidation phase. He cautions of potential short-term fluctuations but highlights the $56,000 to $58,000 zone as a crucial support level. #BTC This is officially the deepest retrace in the cycle (-23.6%)$BTC #BitcoinHalving #Bitcoin pic.twitter.com/Gcapbl0Nu6 — Rekt Capital (@rektcapital) May 1, 2024 Uncertainty Looms As Market Awaits Fed Decision While analyst optimism is a welcome sign, a cloud of uncertainty hangs over the crypto market. The upcoming Federal Reserve decision on interest rates could significantly impact investor sentiment and, consequently, Bitcoin’s price trajectory. A more hawkish stance from the Fed could trigger further selling, while a dovish approach might provide the tailwind needed for a Bitcoin rebound. Related Reading: Ethereum Fees Dive: Will This Spark A Surge In Network Activity? Buckle Up For A Bumpy Ride The next few weeks will be crucial for Bitcoin and the broader cryptocurrency market. The Federal Reserve’s decision and investor reaction to the current price slump will likely dictate the short-term direction. While bullish sentiment suggests a potential reversal, the inherent volatility of the crypto market means investors should brace for a bumpy ride. Bitcoin market cap currently at $1.13 trillion. Chart: TradingView.com Featured image from Pixabay, chart from TradingView

The layer-two initiative known as BOB, short for ‘Build on Bitcoin,’ has declared its mainnet operational with over 40 apps launching in the initial phase. Notably, the BOB application that facilitates bridging and access to the ecosystem is geo-blocked in the United States. BOB Mainnet Activates, Project Expects a ‘Bitcoin-Driven Defi Summer’ On May 1, […]

On Thursday, Zksnacks, the developer behind Wasabi Wallet, announced its decision to cease its coinjoin services following regulatory measures in the U.S. The company stated that the wallet will now operate as a standard non-custodial bitcoin wallet without the coinjoin feature. Zksnacks Withdraws Coinjoin Feature from Wasabi Wallet Following intensified regulatory scrutiny in the U.S., […]

Recently, Messari’s founder and CEO, Ryan Selkis, has expressed strong opinions about the potential impact of a Joe Biden reelection on the cryptocurrency industry in the United States. On Thursday, Selkis voiced his concerns on the social media platform X, stating that a “second Biden term will lead to mass wealth confiscation and crypto seizures.” […]

Coinbase, a leading U.S.-based cryptocurrency exchange, has finally announced the implementation of the lightning network, a Bitcoin layer 2 scaling solution. Coinbase will now allow its users to take advantage of this scaling protocol to avoid paying high fees for Bitcoin transactions, enhancing the utility of crypto for customers using Coinbase’s services. Coinbase Adds Lightning […]

PRESS RELEASE. Road Town, British Virgin Islands — May 2, 2024. EYWA, a consensus bridge that secures transactions across multiple protocols, has raised a total of $7 million as it delivers the new era of Web3 interoperability. The investment has been led by Curve Finance founder Michael Egorov — with the project recently attracting two […]

David Marcus, the former president of Paypal and the current CEO of Lightspark, envisions bitcoin as the primary currency for artificial intelligence (AI) in the future. He describes bitcoin as “maximally neutral,” highlighting its advantages over conventional fiat currencies like the euro or the U.S. dollar. Bitcoin Poised to Become Default Currency for AI, Says […]

A new study by Fidelity Digital Assets reveals that as bitcoin matures, its volatility is decreasing, making it less volatile than several S&P 500 stocks. “As the asset class matures and its total market cap grows, the inflow of capital is expected to have a smaller impact because it will be flowing into a larger […]

On May 1, 2024, U.S. spot bitcoin ETFs experienced their most significant single-day outflows since their inception on Jan. 11, 2024. ETF Institute Co-Founder: ‘Inflows Don’t Go up in a Straight Line’ Data sourced from coinglass.com reveals that these funds saw a withdrawal of $563.7 million on Wednesday, with Fidelity’s FBTC experiencing the highest outflow, […]

The Middle East and North Africa (MENA) lead the world in the adoption of blockchain and cryptocurrencies because governments in the region actively promote digital transformation in their strategic future visions, according to Faisal Al Monai, chairman and co-founder of Droppgroup. This commitment by governments in the region “creates a favourable environment for the growth […]

Unknown attackers recently siphoned digital assets valued at just under $1.6 million from the decentralized finance protocol, Pike Finance. The protocol announced it is offering a 20% reward for the return of the funds, while an ongoing investigation into the incident continues. USDC Vulnerability The decentralized finance (defi) protocol, Pike Finance, said on May 1 […]