Author: Ava Patel

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Ava Patel

Ava Patel's expertise lies in creating engaging and informative content about the latest trends and opportunities in the crypto space. Her writing is known for its clarity, accuracy, and ability to convey complex concepts in a way that is accessible to both novice and advanced readers.

Articles by Ava Patel

Honduras imposes crypto trading ban to secure financial sector

3 days ago 1 min read

A ban on crypto trading for financial institutions has been implemented in Honduras. The National Banking and Securities Commission (CNBS) declared it. This move seeks to preserve the integrity of the nation’s financial system in contrast to the growing global acceptance of crypto, like the US’s Bitcoin ETFs. The lack of specific laws about crypto in Honduras is the reason behind the CNBS’s decision. When regulations are unclear, customers are vulnerable to fraud and other illicit activities, such as money laundering. The decentralized structure of crypto businesses, which makes it challenging for regional regulators to monitor their operations, has also

This crypto analyst believes (FET) may rally much higher from its current value

4 days ago 1 min read

One crypto project centered around artificial intelligence (AI) may rise for months, according to a well-known crypto analyst. On the social media platform X, the anonymous trader Altcoin Sherpa informs his followers that the decentralized AI platform for applications, (FET), could rise “much higher” than its current value. Based on his chart, the crypto trader says that FET bounced off the upper bound of a previous trading range at $0.55 and that $0.76 is the next significant level of resistance. As of this writing, FET is trading at around $0.70, up 6.7% over the previous day. In addition, the

Torrevieja sets to pioneer a digital economy by embracing crypto payments

1 week ago 1 min read

Enormous and ‘crypto-friendly’, Torrevieja is striving to become a leader in the use of digital currency, such as Bitcoin, to modernize and bolster its economy. This initiative is being spearheaded by APYMECO, the merchant association. Their goal is to facilitate the acceptance of digital currencies like Bitcoin as payment by retailers. The idea is to link traditional business with the emerging digital world by allowing consumers to make purchases using digital currency. Rosario Martínez Chazarra, the city’s Commerce Councilor, thinks that this is a major improvement for small businesses, making it simpler for consumers to use digital currency. Though digital

Ethereum (ETH) price breaks $2,485 as anticipation grows for its game-changing Dencun upgrade

2 weeks ago 1 min read

Ethereum (ETH) surpasses $2,486. The main cause of this large price movement is the increasing interest in Ethereum’s most recent network upgrade, the Dencun upgrade. The successful rollout of this upgrade on the Holesky testnet recently garnered media attention, marking a significant milestone before its eventual deployment on Ethereum’s mainnet, scheduled for March. The Ethereum development community has been working hard; earlier in January, tests were carried out on other testnets, such as Goerli and Sepolia. The Ethereum network is about to see major improvements thanks to the Dencun upgrade. The goal is to increase the network’s transaction handling capacity

MicroStrategy Buys 850 Bitcoin (BTC) for $37.2 million

2 weeks ago 1 min read

Known for taking a bullish position on Bitcoin (BTC), MicroStrategy has increased the size of its crypto holdings, which as of January stood at 190,000 BTC. Under the direction of Executive Chairman Michael Saylor, the firm spent $37.2 million to buy an extra 850 BTC at an average cost of $43,764—a little bit more than the $43,200 current market value. In addition, the company disclosed an average price of $31,224 in its year-end financial disclosure for Bitcoin purchases, demonstrating the firm’s systematic approach to acquisitions. “With 31,755 Bitcoins added since the last quarter, we’ve seen our largest quarterly boost in

Ethereum Network burns over $13 million worth of ETH in the last 30 days

2 weeks ago 1 min read

The most recent data from the Ethereum network shows that there has been another deflationary trend in the supply of Ethereum (ETH). Over $13 million worth of Ethereum (ETH) has been destroyed in the last 30 days, according to the net supply change, which shows a drop of 5,619.39 ETH. The network’s burning mechanism, which has burned 74,933.24 ETH is the cause of this deflationary pressure. The consequences of this deflationary trend indicates that Ethereum’s surge is about to begin as it implies that there is less ETH available overall. If the demand remains constant or increases, might result in

BlackRock’s iShares Bitcoin Trust (IBIT) outpaces Grayscale Bitcoin ETF (GBTC) in daily trading volume

3 weeks ago 1 min read

BlackRock’s iShares Bitcoin Trust (IBIT) has outpaced Grayscale Investments’ Bitcoin ETF (GBTC) in daily trading volume. Blackrock’s IBIT is on the verge of securing an additional $3 billion in investments, whereas GBTC has lost over $5.6 billion since the ETF’s approval. GBTC initially led the new bitcoin ETFs approved on January 11, 2024. However, recent data show that IBIT generated over $300 million in daily sales, outperforming GBTC’s $290 million. This shows changes in investors’ sentiment, with BlackRock’s ETF gaining popularity and highlighting shifting preferences. Despite its early dominance, GBTC has experienced significant outflows, whereas IBIT has seen significant inflows.

The Department of Justice (DOJ) charges three people for stealing over $400 million from FTX exchange

3 weeks ago 1 min read

The US Department of Justice (DOJ) has charged three people for orchestrating a SIM-swapping attack, leading to the theft of over $400 million from a company, suspected to be the collapsed FTX exchange. The accused are Robert Powell, Emily Hernandez, and Carter Rohn. They allegedly conducted SIM-swapping scams targeting multiple victims from March 2021 through April 2023. The indictment, filed in the U.S. District Court for the Northern District of Illinois, doesn’t exactly name FTX exchange , but sources cited by Bloomberg indicate that the exchange is referred to as Victim Company-1 in the filing. Furthermore, the 3 individuals are

Dark Web Drug Lord’s $150 Million Crypto Empire Unveiled: A Digital Age Drug Trafficking Saga

3 weeks ago 2 mins read

Banmeet Singh, a 40-year-old Indian national, has admitted to orchestrating a massive narcotics enterprise across continents. His admission comes after the largest crypto and cash seizure in the history of the United States Drug Enforcement Administration (DEA), totaling a staggering $150 million in forfeited crypto assets. Singh’s criminal enterprise, which features sophisticated use of the dark web and crypto, sheds light on the changing landscape of criminal networks in the digital age. Singh’s digital storefronts, which operated on notorious marketplaces such as Silk Road 1 and 2, Alpha Bay, Hansa, and others, sold controlled substances such as fentanyl, LSD, ecstasy,

Digital Asset Investment Products Witness $500 Million Outflows; Bitcoin ETFs Remain in Focus

3 weeks ago 1 min read

Last week, digital asset investment products experienced a $500 million outflow, with Bitcoin-indexed exchange-traded products (ETPs) accounting for nearly 96% of the total outflows, according to asset manager CoinShares’ recent publication. Bitcoin, a key player in this scenario, saw outflows of $479 million, indicating that investors are cautious. Conversely, short positions in Bitcoin saw increased interest, with total inflows approaching $11 million. Ethereum, Polkadot, and Chainlink all experienced outflows of $39 million, $0.7 million, and $0.6 million, respectively. Despite the negative trend, Solana-indexed investment products saw an increase of $3 million in assets under management. Examining regional dynamics, the majority

Terra Luna Classic community burns over 90 billion LUNC tokens

3 weeks ago 1 min read

The Terra Luna Classic (LUNC) community reached a significant milestone in its ongoing burn campaign, having reached 95 billion LUNC since May 2022. The community’s collaborative efforts to reduce the number of circulating LUNC tokens have reached another significant milestone, with Binance contributing over 51.7% of the total burn, or around 50 billion LUNC. Binance’s commitment to the LUNC burn mechanism entails monthly transfers of billions to the burn address, making it a significant contributor, exceeding the 50 billion LUNC mark. Binance burned 5.57 billion tokens in the most recent round (17th) of the LUNC burn mechanism, bolstering its position

The US court orders the sale of $117 million worth of Bitcoin linked to Silk Road

4 weeks ago 1 min read

The US District Court for the District of Maryland has ordered the forfeiture of nearly $117 million in Bitcoin (BTC) linked to the infamous Silk Road drug market. The decision follows the convictions in a high-profile case involving former Secret Service agent Shaun Bridges and Maryland residents Joseph and Ryan Farace. The court’s official notice, dated January 8, 2024, details the forfeiture of 2,874 BTC, worth around $114 million, and an additional 58 BTC, worth more than $2 million. The forfeited crypto are linked to Shaun Bridges, a convicted former Secret Service agent. Bridges was involved in the investigation and