Browsing:Crypto News

The price increase of Ethereum to $2402 reflects a strong bullish outlook
5 months ago 1 min read

Ethereum (ETH) surpasses $2,400, Surging 1.7% in the last 24 hours

Recent market trends paint a positive picture for Ethereum (ETH), implying that the popular crypto may be entering a period of growth. The price increase of Ethereum to $2,402 reflects a strong bullish outlook, driven by a number of factors that have piqued the interest of investors. VanEck, an investment firm, published a report outlining 15 projections for the cryptocurrency landscape in 2024. While discussing Ethereum’s potential to surpass Bitcoin, the report takes a nuanced approach, implying that despite significant gains, Ethereum may fall short of “flipping” Bitcoin. Technically, Ethereum’s performance remains positive, with a strong bullish trend supported by

$23.59 million in crypto was transferred from wallets associated with the now-defunct FTX and Alameda Research to major crypto exchanges.
5 months ago 1 min read

Nearly $23.59 million was transferred across 19 different tokens via the FTX-affiliated wallets

Over four days, $23.59 million in crypto was transferred from wallets associated with the now-defunct FTX and Alameda Research to major crypto exchanges. The transactions, which were tracked by blockchain analytics firm Spot On Chain, revealed significant movements from insolvent organizations totaling $591 million in 59 different tokens since October 24. FTX-affiliated wallets distributed nearly $23.59 million in 19 different tokens alone. These assets were distributed to prominent exchanges such as Binance, Coinbase, OKX, and Galaxy Digital OTC, demonstrating an active effort to manage and distribute assets during a volatile market period. A total of $6.07 million in assets was

Burns Over 85 Billion LUNC Tokens
5 months ago 1 min read

Over 85 Billion LUNC Tokens Burned By Terra Luna Classic Community

Since May 18, 2022, the Terra Luna Classic community has burned over 85 billion LUNC tokens, marking a significant milestone. This ongoing effort to reduce the circulating supply of LUNC has reached a significant milestone, with Binance accounting for more than 51% of the total tokens burned. The burning initiatives are critical for improving the Terra Luna Classic ecosystem’s utility and sustainability. 5.83 trillion LUNC tokens are already in circulation, out of a total supply of 6.82 trillion LUNC. Binance has contributed nearly 43.6 billion LUNC to the burning process, demonstrating its commitment to the Terra Luna Classic community. Binance,

VanEck Predicts $2.4 Billion Surge in Bitcoin ETFs and Major Crypto Market Changes in 2024
5 months ago 1 min read

VanEck predicts a $2.4B surge in Bitcoin ETFs in 2024

VanEck, a leading investment firm, predicted a $2.4 billion inflow into Bitcoin exchange-traded funds (ETFs) in early 2024. The forecast is based on the release of the first true Bitcoin ETFs, which have the potential to reshape the crypto market. Because of their resistance to easy government control, investors are increasingly drawn to assets such as Bitcoin. Bitcoin, which is well-known for its resilience and resistance to traditional market trends, is gaining traction as a solid investment. Despite its volatility, experts predict that Bitcoin will remain above $30,000 in early 2024. Furthermore, a possible price increase is expected following a

Shiba Inu (SHIB) Experiences Explosive Burning Surge and Mystery Whale Moves 4 Trillion Tokens
5 months ago 1 min read

Shiba Inu (SHIB) Experiences Explosive Burning Surge and Mystery Whale Moves 4 Trillion Tokens

Over the last 24 hours, the popular meme coin Shiba Inu (SHIB) has seen a remarkable increase in burning activity, with over 10.3 million SHIB tokens incinerated, representing an astounding 805% increase in burn rate. Simultaneously, a mysterious crypto whale conducted a massive token transfer, transferring 4.2 trillion SHIB tokens—worth over $42 million—to an unidentified address. The increased burning efforts and enigmatic whale activity have sparked interest and debate in the crypto community. Shibburn, a data analytics platform, reported an exponential increase in SHIB burning, which contributed to a faster token removal strategy. While the burned tokens represent only a

Robinhood is set to launch its crypto trading service in Europe
5 months ago 1 min read

Robinhood launches crypto service in the EU, offers BTC rewards and over 25 crypto

Robinhood, the popular investment app, is set to launch its crypto trading service in Europe beginning this Thursday, which is an exciting development for European investors. The expansion provides access to over 25 cryptocurrencies, including well-known names like Bitcoin (BTC), Ethereum (ETH), and Solana (SOL). This follows Robinhood’s recent launch of brokerage services in the United Kingdom. While Robinhood previously attempted to expand its presence in the UK by acquiring Ziglu, a UK-based crypto company, the deal did not go as planned. Undaunted, Robinhood is now taking a direct approach to the European market by introducing crypto trading services. The

Cardano's ADA Surges Over $1 Billion in 24-Hour Rally
5 months ago 1 min read

Cardano’s market cap increases by over $1 billion in 24 hours, reaching $15.5 billion

Cardano’s native crypto, ADA, experienced a spectacular surge, with its market cap increasing by more than $1 billion in just 24 hours. The latest buying frenzy has propelled ADA to the eighth-largest cryptocurrency by valuation, cementing its position as a key player in the digital asset space. According to the most recent data, ADA’s overall market cap has risen to an impressive $15.5 billion, indicating a significant influx of capital into the crypto. This increase in market capitalization places ADA among the top cryptocurrencies, demonstrating its resilience and appeal to investors. ADA’s price rose from intraday lows of $0.412 to

The memecoin BONK
5 months ago 1 min read

BONK meme coin surges by over 50%, outperforming Dogecoin and Shiba Inu”

The memecoin BONK has experienced an astronomical surge of 50%, surpassing the performances of popular rivals Dogecoin and Shiba Inu. The sudden rise of BONK underscores the unpredictable and dynamic nature of the cryptocurrency market, where meme coins continue to capture the attention of investors seeking quick and substantial gains. BONK, a memecoin that likely gained attention for its humorous branding, has witnessed an unprecedented surge in its value, leaving both Dogecoin and Shiba Inu in its wake. The staggering 50% increase in BONK’s value has raised eyebrows across the crypto community, prompting discussions about the influence of meme-driven phenomena

Former SEC Official Expresses Concerns Over Binance Settlement: Predicts Inevitable Collapse
5 months ago 2 mins read

Former SEC Official Expresses Concerns Over Binance Settlement: Predicts Inevitable Collapse

Binance, the world’s largest crypto exchange, and its former CEO Changpeng Zhao (CZ) recently reached an agreement with the United States government. However, the implications of the agreement are raising eyebrows, with former SEC official John Reed Stark expressing serious concerns about Binance’s future and compliance efforts. Stark believes that, despite the settlement, CZ’s guilty plea to anti-money laundering charges may not provide Binance with the expected relief. Stark mentioned an interview with Binance’s new CEO, Richard Teng, in a recent post on X (formerly Twitter). Teng took over after CZ’s guilty plea and a significant $4.3 billion legal settlement

JPMorgan CEO Calls for Crypto Ban Amid Senate Hearing as RCMP Targets Drug Traffickers Laundering Proceeds with Cryptocurrency
5 months ago 2 mins read

JPMorgan CEO Calls For Government Shutdown Crypto

Jamie Dimon, CEO of JPMorgan Chase, has reiterated his strong opposition to crypto, specifically advocating for a ban on digital assets such as Bitcoin (BTC). His comments came during a Senate Banking Committee hearing, in response to Senator Elizabeth Warren’s questions. Dimon’s remarks echo his long-held disdain for crypto, emphasizing his concerns about their alleged facilitation of criminal activity. Dimon’s criticism focuses on the primary use case of crypto, which he believes facilitates criminal activity. During the Senate hearing, he went so far as to say that if he had the authority, he would shut down the entire crypto industry,

Société Générale Ventures into Crypto
5 months ago 2 mins read

Société Générale Ventures into Crypto: Launches Euro-Backed Stablecoin ‘EUR CoinVertible’ on Bitstamp

The launch of Société Générale‘s euro-backed stablecoin, dubbed ‘EUR CoinVertible,’ on the Luxembourg-based exchange Bitstamp has made waves in the crypto space. This is a significant entry by a traditional bank into the crypto trading arena, particularly in the stablecoin market, which has previously been dominated by digital asset firms. Stablecoins are digital tokens with traditional currency value that closely track the value of fiat currencies. They play an important role in reducing the complexity of crypto trading by providing a stable digital representation of traditional currencies. While most stablecoins are pegged to the US dollar, Société Générale’s EUR CoinVertible

Bitcoin Rockets to $44,000, Wiping Out $160M in Short Trader Losses
5 months ago 1 min read

Bitcoin Rockets to $44,000, Wiping Out $160M in Short Trader Losses

Bitcoin’s recent surge to $44,000 has not only marked a significant milestone in its price trajectory but has also dealt a substantial blow to short traders, resulting in losses amounting to around $160 million. The surge, fueled by strong demand and positive sentiment regarding potential U.S. ETF approval and rate cuts, underscores the dynamic nature of the cryptocurrency market. Short traders, who bet against Bitcoin’s upward movement, found themselves on the losing end as the cryptocurrency’s value soared. In just two days, around $160 million was wiped out, according to CoinGlass. This rapid liquidation of short positions highlights the impact

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