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Bitcoin ETF Token Raises $4.1m But Selling Fast, Traders Grab Last Chance to Buy at Low Price
2 months ago
三马哥
三马哥
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Shaking positions, also known as washing positions and washing dishes, is a common method used by large investors (dog houses, institutions) to collect high-quality token chips from retail investors. Gouzhuang usually collects all the chips to control the currency price. Usually when Gouzhuang collects chips, the currency price will only fluctuate within a narrow range. When Gouzhuang has enough chips, it will deliberately "shock" its position. The currency will fall sharply in a very short period of time. Under the panic selling, many retail investors will be "shocked away" by then. ​ Well, we have had several very classic warehouse shaking events in the past year. When Gouzhuang created extreme panic in the market, it was the bottom of the currency price. ​ BTC: Since the Bitcoin spot ETF was officially approved and landed on the U.S. stock market in January, BTC soared to 49,000 and then plummeted to 38,000. Everyone thought it would continue to fall. Because the support of BTC at 40,000 was very strong at that time, and the good news about ETF was negative, after it fell below 40,000, retail investors and large investors took advantage of it, and finally gave up the cheap Bitcoin chips to BlackRock! Little did they know that that position was the periodic bottom of Bitcoin. After falsely falling below 40,000, in the past 28 days, Bitcoin has skyrocketed by US$14,000+, an increase of 37%, and its market value has exceeded US$1 trillion! BNB: In November 2023, because An'an was fined US$4.5 billion by the United States, BNB fell by -18% in one day, and the currency price once fell to 220U. The vast majority of retail investors panicked, including many large investors who were also extremely panicked. They transferred their assets one after another and finally left the market. Little did they know that that day was the bottom of BNB. In less than 3 months today, BNB has skyrocketed by 70%+! Market value increased by US$20 billion! ​ SOL: In December 2022, affected by the FTX incident and Explosive SBF, SOL dropped sharply to 8U per unit. At that time, the market was in a quarterly panic, and almost the entire market was shorting it. The funding rate was adjusted to be closed every 2 hours. Got it! You have to know that the contract funding rate is normally collected every 8 hours, so if you think about how panicked it was at that time, everyone was cutting their flesh at the lowest point of SOL, 8u, but little did they know that that was the lowest point! After a full year, SOL rose to 126 dollars, an increase of 12 times! That's right, if you bought the bottom of 8U at that time, buying 10,000 U would become 80,000 U. This is the true meaning of being greedy when others are panicking! ​ All in all, when the market capitalization of value coins and the top 20 tokens in circulation market capitalization accelerates and causes extreme panic (except for the Luna unlimited issuance mode), it is your time to hunt for the bottom. Every time this kind of coin is deeply shaken and washed, it is for you. Opportunity to get rich! $BTC $BNB $SOL

3 days ago
Todayq News
Todayq News
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As the cryptocurrency industry awaits a crucial decision over the spot Ethereum Exchange-Traded Fund (ETF), the US Securities and Exchange Commission (SEC) key leader has decided to move out. Ladan Stewart, a key figure in the SEC’s crypto unit reportedly has left the agency. SEC ex bids adieu According to a report by Bloomberg Law, Ladan Stewart will join White & Case. The former SEC executive had led the commission’s crypto and cyber litigation unit since September 2022. She had played a crucial role in high-profile court battles with the crypto industry. However, her departure comes at a time when the SEC faces impending decisions on spot Ethereum ETFs. Stewart’s tenure at the SEC saw her leading big legal actions against major crypto players. This includes the lawsuit against Coinbase for allegedly operating as an unregistered securities exchange. It should be noted that she was also part of the legal team engaged in a long running legal battle with Ripple over the classification of its XRP token. The report suggests that the former head of the SEC’s crypto and cyber litigation unit played a key role in the crypto regulatory space. On the other hand, the SEC has taken a proactive stance on crypto regulations under the leadership of Gary Gensler. The departure of Stewart might move the commission’s approach towards crypto. It added that Stewart in her new firm will intend to develop a crypto and cyber defense practice. This reflects the increasing importance of legal expertise in addressing the challenges. It also shows the legal scrutiny faced by the crypto industry. Cryptocurrency is here to stay However, she mentioned that the crypto is here to stay. This comes in with the recent launch of Bitcoin ETFs. Stewart highlighted the ongoing legal complexities and enforcement in the crypto space. She even indicated that legal questions around the crypto industry will remain here for the foreseeable future. Ladan Stewart’s move comes in when the buzz around ETH ETF is getting strong. The US SEC’s delaying tactics had shifted the impending decision until May. The arrival of the spot Bitcoin ETF boosted the market. Bitcoin (BTC) recently regained the $53K mark before dipping to the $50K level. While Ethereum which was dealing with a high selling pressure proved to surge with the help of positive sentiments. ETH price recently jumped over the $3K mark. Get Premium Crypto Trading Signals from Real Crypto Analysts. Join our official Waiting List at todayq.com.

4 days ago
Coinstages
Coinstages
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Last year, Bitcoin’s accent above $42,000 ignited a wave of anticipation within the cryptocurrency community. Bloomberg, a global financial media company, believes it marks the beginning of a new “supercycle” that could propel the leading cryptocurrency to previously unimaginable heights, exceeding $500,000 With Bitcoin on track to experience its sixth consecutive month of gains, the approaching halving, and the recent spot Bitcoin ETF approval, speculation surrounding the impact on altcoins like Shiba Inu (SHIB) keeps growing. Historically, significant rises in Bitcoin price are often triggered by domino effects, propelling altcoins to impressive heights, particularly when new all-time highs are reached. This naturally leads to questions regarding the potential impact on SHIB’s price. Google Gemini and ChatGPT weigh in on SHIB Price To understand this complex scenario, we consulted Google Gemini and ChatGPT, seeking their insights on SHIB’s potential price path in light of a $500,000 Bitcoin Price. While ChatGPT offered an “imaginative” prediction of Shiba Inu (SHIB) reaching $0.001, it acknowledged the lack of concrete analysis underpinning its forecast. In contrast, Gemini presented a more grounded perspective, emphasizing that SHIB’s potential course wouldn’t solely depend on its historical correlation with Bitcoin (BTC). Beyond Correlation: Understanding the Nuances According to Gemini, several critical factors would significantly influence SHIB’s trajectory. One of which is the strength of SHIB’s correlation with Bitcoin, which can substantially affect its response to BTC’s price movements, and while past performances offer valuable insights, it’s not a guaranteed indicator of future behavior. Another is Shiba Inu’s ecosystem development. Independent progress, such as token burns, partnerships, and utility enhancements within the SHIB ecosystem, significantly impacts demand and price. The broader market sentiment towards Shiba Inu (SHIB) also plays a crucial role in influencing its price. Positive sentiment can attract more buyers, potentially leading to price increases. A Speculative Glimpse Considering these factors, Gemini acknowledges that if everything aligns favorably for SHIB, a price range between $0.0001 and $0.001 could be possible, echoing ChatGPT’s prediction. Gemini emphasizes that this figure is purely hypothetical and shouldn’t be used to make financial decisions. Investors are encouraged to conduct thorough research, consider diverse perspectives, and remain mindful of the inherent risks associated with cryptocurrency investments before making any decisions. ⚠️Disclaimer This content aims to enrich readers with information. Always conduct independent research and use discretionary funds before investing. All buying, selling, and crypto asset investment activities are the responsibility of the reader. #Shibainu #SHIB

4 days ago
TopCryptoNews
TopCryptoNews
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There have been many exciting developments in the crypto market since the start of 2024, and many cryptocurrencies have been making major moves, with perhaps the biggest star of the most recent period being Ethereum (ETH) as it reclaimed $3,000 for the first time in almost full two years. Indeed, nearly every week has brought some action that could have helped savvy crypto traders multiply their investments, and late February is no different. In this context of high hopes that some milestones – long in the making, such as XRP’s expected surge to $2 – will be reached, but with risks of unexpected mishaps still high, Finbold decided to take a look at 3 cryptocurrencies well-positioned to help investors $100 into $1,000 as soon as next week. Bitcoin (BTC) As the world’s foremost cryptocurrency, Bitcoin (BTC) has again taken the lead in the most recent rallies. BTC made headlines twice in the initial weeks of the year, first due to the approval of nine spot Bitcoin exchange-traded funds (ETFs) and then as the leader of a $100 billion wipe that happened as the crypto market was adjusting to the newborn nine. The cryptocurrency has since experienced a major surge. At approximately $52,000, it is again eyeing a surge toward its previous all-time highs – though it remains uncertain if Bitcoin will be struck by a major correction and a major buying opportunity before it restarts a bull run. Finally, in approximately two months, BTC is likely to skyrocket as its newest halving event – an event that historically helped Bitcoin surge tenfold and, sometimes, hundredfold – is expected to take place. Bitcoin price chart Since 2024 started, Bitcoin has offered a fairly strong performance – barring the decline in the weeks immediately following the ETF approvals. Year-to-date (YTD), BTC is up 17.19%. This trend is present in the more recent period as Bitcoin climbed 30.98% over the last 30 days, and the previous 24 hours of trading, however, saw it decline 0.17% to $51,763.60. Bitcoin technical analysis The technical analysis (TA) for Bitcoin, retrieved from TradingView on February 22, reveals that BTC is likely to continue rising as its overall rating stands at “buy.” Additionally, moving averages reveal that BTC is, at press time, particularly strong as they rate it a “strong buy,” though oscillators are neutral. Solana (SOL) Solana’s (SOL) recent performance has been drawing a lot of attention – and with good reason, given that it, in a matter of months, rose from about $20 to above $100. It has also recently seen a surge in network activity, and the meme coins on its blockchain have also been increasingly popular. Even the Solana mobile team achieved success and sold out the inaugural Saga smartphone – largely due to a strange arbitrage opportunity offered by the presence of BONK tokens on each phone – and is now working on a new model. Perhaps the most striking statistic showcasing Solana’s strength is the fact that its transaction volume surged above $1 trillion in January – meaning it had achieved a multi-year high in the first month of 2024. Solana price chart While undergoing a downtrend in January – along with much of the crypto market – Solana is, overall, 5.38% in the green YTD. Its more recent performance has also been fairly strong 21.23% up in the last 30 days, and it rose 2.55% on the latest day of trading. At press time, the price of SOL is $106.17. Solana technical analysis The technical analysis for Solana reveals that the token is likely to continue with its strong performance in the coming days and weeks. Overall, technicals provided by TradingView rate it as a buy, with oscillators being overall neutral but moving averages ranking it as a “strong buy.” Avalanche (AVAX) Recent months featured significant milestones for Avalanche (AVAX) as it not only saw its price surge in the Q4 2023 crypto market rally but also entered into multiple beneficial partnerships, with those with BLRD, a Web3 gaming company and Amazon’s (NASDAQ: AMZN) AWS cloud services arguably being the most important. Avalanche is also currently in a high-risk, high-reward situation as its most recent trend has been one of decline and February 21 saw it wipe as much as $1 billion in a single day. Avalanche price chart Indeed, unlike Bitcoin’s and Solana’s, Avalanche’s 2024 volatility led it to decline 2.49% between January 1, and February 22. Despite this, and despite last week’s downtrend, AVAX is up 20.47% in the previous 30 days and the most recent 24 hours of trading saw it rise 1.25% to $37.60. AVAX technical analysis Looking ahead, Avalanche’s technicals show that the token is likely to rise in price, especially given that the major unlocking event – a big contributor to its recent downtrend – has passed on February 21. Overall, TradingView’s analysis rates it a “buy,” with oscillators being neutral but moving averages reading “strong buy.” It is worth noting, however, that there is significantly more deviation for AVAX technicals depending on the exact time frame chosen that is the case with BTC and SOL as, while its weekly performance rates it as “buy,” the daily and monthly data leans more toward a neutral ranking. $AVAX $SOL $BTC #AVAX #BTC‬ #SOL #Write2Earn

3 days ago
Coinstages
Coinstages
followers

Last year, Bitcoin’s accent above $42,000 ignited a wave of anticipation within the cryptocurrency community. Bloomberg, a global financial media company, believes it marks the beginning of a new “supercycle” that could propel the leading cryptocurrency to previously unimaginable heights, exceeding $500,000 With Bitcoin on track to experience its sixth consecutive month of gains, the approaching halving, and the recent spot Bitcoin ETF approval, speculation surrounding the impact on altcoins like Shiba Inu (SHIB) keeps growing. Historically, significant rises in Bitcoin price are often triggered by domino effects, propelling altcoins to impressive heights, particularly when new all-time highs are reached. This naturally leads to questions regarding the potential impact on SHIB’s price. Google Gemini and ChatGPT weigh in on SHIB Price To understand this complex scenario, we consulted Google Gemini and ChatGPT, seeking their insights on SHIB’s potential price path in light of a $500,000 Bitcoin Price. While ChatGPT offered an “imaginative” prediction of Shiba Inu (SHIB) reaching $0.001, it acknowledged the lack of concrete analysis underpinning its forecast. In contrast, Gemini presented a more grounded perspective, emphasizing that SHIB’s potential course wouldn’t solely depend on its historical correlation with Bitcoin (BTC). Beyond Correlation: Understanding the Nuances According to Gemini, several critical factors would significantly influence SHIB’s trajectory. One of which is the strength of SHIB’s correlation with Bitcoin, which can substantially affect its response to BTC’s price movements, and while past performances offer valuable insights, it’s not a guaranteed indicator of future behavior. Another is Shiba Inu’s ecosystem development. Independent progress, such as token burns, partnerships, and utility enhancements within the SHIB ecosystem, significantly impacts demand and price. The broader market sentiment towards Shiba Inu (SHIB) also plays a crucial role in influencing its price. Positive sentiment can attract more buyers, potentially leading to price increases. A Speculative Glimpse Considering these factors, Gemini acknowledges that if everything aligns favorably for SHIB, a price range between $0.0001 and $0.001 could be possible, echoing ChatGPT’s prediction. Gemini emphasizes that this figure is purely hypothetical and shouldn’t be used to make financial decisions. Investors are encouraged to conduct thorough research, consider diverse perspectives, and remain mindful of the inherent risks associated with cryptocurrency investments before making any decisions. ⚠️Disclaimer This content aims to enrich readers with information. Always conduct independent research and use discretionary funds before investing. All buying, selling, and crypto asset investment activities are the responsibility of the reader. #ShibaInuAI

4 days ago
Crypto Daily™
Crypto Daily™
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Major crypto tokens are trading in the red in today's trade, primarily influenced by diminishing expectations of early interest rate cuts from the Federal Reserve. Investors eye the coming minutes from the US central bank's last meeting which, many believe, will provide critical insights into future policy directions. Amidst this cautious backdrop, Bitcoin recently experienced a rollercoaster ride, surging to a new yearly high of $53,000, only to retrace back to $50,750. This fluctuation was attributed to a combination of peaking open interest and unfavorable funding rates for bullish positions. Although it rebounded to $51,000, it's Ethereum's resilience that caught the market's eye, with its price surpassing the $3,000 mark and holding steady, fueled by the anticipation of a spot ETF approval in the US and progress in its network upgrade. In this complex tapestry of market movements, DeFi blockchains Sei (SEI) and Sui (SUI) have not been immune to the market's vicissitudes, with both tokens experiencing a plunge of over 5% in today's trading session. However, in the midst of these broader market fluctuations, there's a growing buzz around ScapesMania (MANIA), a project that has recently concluded its presale stage. As the crypto community eagerly awaits its impending Token Generation Event (TGE) and anticipated DEX listing, there's a palpable sense of expectation that MANIA might open new avenues for a wider array of crypto investors. Ride The Wave of Innovation with ScapesMania The ScapesMania public sale wrapped up, becoming the talk of the crypto community. The project managed to secure over $6,125,000 at an unprecedented rate and there’s a strong probability that the token's value might increase exponentially in the future. The spotlight has shifted to the Token Generation Event (TGE) coming up on February 25 – March 09. The pool of tokens is smaller than it was before, the conditions are better than the market average, so the chance to maximize your potential returns is quickly diminishing. Letting it slip now would be a huge waste, especially since your chance to join is only a click away. Your Last Chance to Boost Potential Returns Post Listing The team behind ScapesMania, with years of expertise, has crafted a robust post-listing marketing strategy. Buyback, burn, staking, and all the perks for holders keep attracting new adopters while also ensuring a high level of community engagement. Through DAO governance, backers will be able to influence and benefit from a growing industry. Moreover, the token's utility is impressive. It's not another meme coin whose success relies heavily on trends and hype. ScapesMania ($MANIA) is a well-balanced, meticulously designed project that acts as a gaming ecosystem. As a player in the multi-billion casual gaming industry, it leverages the market's growth potential. Post-debut, holders can anticipate greater liquidity and easier trading. A solid token management plan will further increase longer-term growth potential.  The community's excitement about the project is evident so far: the follower count has reached 60K+. Also, the growing interest from crypto whales with deposits of $20,000+ might expedite ScapesMania's transition from niche to mainstream. ScapesMania's smart contract has received approval from prominent security-ranking firms, ensuring peace of mind for holders. Additionally, the PancakeSwap listing is on the horizon, with CEX listings still in the works. ScapesMania is also notable for a great cliff vesting structure to prevent token dumping, making sure that supply and demand are well-matched for potential growth. Make sure you don't pass up the opportunity to leverage all discounts and potentially beat the market with the TGE fast approaching. Be quick if you want to be the first one in line for all the post-listing opportunities, which might be quite lucrative. >>> TGE ALERT – Keep Up With Latest News <<< Sei (SEI) Price Analysis In a striking 24-hour period, Sei's (SEI) value witnessed a notable decline, dropping from $0.96 on February 20 to $0.87 amid the trend index's increased volatility and a downturn in trading volumes. The community is now closely monitoring the coming Sei v2 upgrade, slated for release in Q1 2024, which promises to enhance the Sei's (SEI) capabilities by allowing developers to integrate Ethereum protocols. So the anticipated upgrade is a focal point of interest and can determine SEI's future trajectory. Sei (SEI) Technical Outlook Currently, Sei (SEI) is trading between its first support level at $0.7347 and its first resistance level at $1.1132. Source: TradingView The Exponential Moving Averages (EMA) paint a moderately positive picture, with the 10-day EMA at $0.907 and the 50-day EMA at $0.8837 hovering just above the 200-day EMA at $0.7466. However, the Relative Strength Index (RSI) at 40.95, Stochastic %K at 20.03, and the Commodity Channel Index (CCI) at -164.59 signal a bearish sentiment, indicating potential overselling. The Average Directional Index (ADX) at 23.43 suggests a lack of strong trend, while the negative MACD level and declining Momentum reinforce a cautious outlook. Sei (SEI) Price Prediction Looking at possible scenarios, a bullish perspective might hinge on the SEI breaking above $1.1132. If this happens, it could signal a shift in investor sentiment and a potential run towards the $1.2645 resistance, or even the $1.643 barrier in a more optimistic case. On the flip side, the bearish scenario, as predicted by some analysts, could see Sei (SEI) breaking below $0.7347, possibly due to ongoing market pressures and the current negative sentiment. If this bearish trend persists, SEI might find itself testing lower supports at $0.5057 and potentially the critical $0.129 level. Sui (SUI) Price Analysis With an impressive 62% spike, Sui (SUI) outpaced established competitors like Cardano, NEAR Protocol and Aptos in terms of total value locked (TVL), now exceeding $584 million across various protocols. This remarkable growth was partly attributed to a substantial $310 million bridge from Ethereum to Sui (SUI) in the last 30 days, as reported by wormholescan.io, representing more than a doubling of its position since the start of the year, when the TVL was approximately $211 million. Despite initial challenges, including a 68% decline in SUI and accusations of token supply manipulation, Sui (SUI) made a significant comeback after adopting inscriptions, a method for recording data on the blockchain that gained prominence during Bitcoin's NFT era, leading to a surge in blockchain activity. Sui (SUI) Technical Outlook Technically, SUI is trading between its first support level at $1.6683 and its first resistance level at $1.9523. Source: TradingView The 10-day EMA at $1.6991 and 50-day EMA at $1.7484 are currently above the 200-day EMA at $1.5414, suggesting a potential bullish trend in the shorter term. However, the RSI at 35.38 indicates that Sui (SUI) might be approaching oversold territory. The Stochastic %K is at a low 24.1 and the CCI at -145.31 also point to potential overselling. The ADX at 23.33 suggests a lack of strong trend, while the negative MACD and Momentum could be indicative of a bearish momentum building up. Sui (SUI) Price Forecast For the bullish scenario, if SUI maintains its current momentum and innovation, particularly in embracing technologies like inscriptions, it could break past $1.9523, aiming for the more distant resistances at $2.1046 and $2.3886. This optimism is backed by the recent surge in TVL and the innovative approach of its team, comprising former Meta employees. On the bearish side, if the market sentiment turns negative or if Sui (SUI) fails to sustain its innovative edge, it could see a retraction towards $1.6683 or even lower towards the next supports at $1.5366 and $1.2526. The recent slip in SUI's value left many wondering if Sui (SUI) can withstand bearish pressure amid the negative trends and past hiccups that initially rocked its stability. Closing Thoughts In the midst of a fluctuating crypto market, where major tokens are experiencing downturns influenced by Federal Reserve policies, DeFi blockchains Sei (SEI) and Sui (SUI) are navigating through their own unique challenges and opportunities. SEI, on the cusp of a significant upgrade, faces a crucial period that could redefine its market position, while SUI, having recently surged in total value locked, confronts the test of maintaining its momentum amidst market uncertainties. Both platforms, emerging from their respective lows, are now at pivotal junctures, with their technical indicators suggesting potential paths but also hinting at the need for cautious optimism. As investors and traders closely watch these developments, the future of Sei (SEI) and Sui (SUI) hangs in a delicate balance, promising potential rewards for those who can adeptly ride the waves of these emerging DeFi contenders. Disclaimer: This is a sponsored article and is for informational purposes only. It does not reflect the views of Crypto Daily, nor is it intended to be used as legal, tax, investment, or financial advice.

3 days ago
Cointelegraph
Cointelegraph
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Converting cryptocurrency to fiat has never been easy, so the recent collaboration announced between Web3 infrastructure firm Transak and credit card giant Visa is probably welcome news — particularly for users of crypto wallets like MetaMask, Ledger and Trust Wallet. As Cointelegraph reported in late January, “MetaMask users can now sell crypto directly to a Visa card.” Some 40 kinds of crypto can now be converted into local fiat currency at 130 million of Visa’s merchant locations across 145 countries. The numbers alone are daunting, but this may also be an inflection point. “Visa and Mastercard’s reengagement with the crypto sector marks a pivotal turn in the industry’s trajectory,” Antoni Trenchev, co-founder and managing partner at Nexo, told Cointelegraph recently. “It’s big news for people already using crypto to pay for things — now they have more options and, arguably, better options with how to make these types of payments,” Joanna Wasick, partner at law firm BakerHostetler, told Cointelegraph. That said, it wasn’t that long ago that Visa appeared to be stepping back from crypto. Almost exactly a year ago, Reuters declared that “Visa and Mastercard are slamming the brakes on plans to forge new partnerships with crypto firms” — though Visa later took issue with Reuters’ assertion. “This strategic recalibration is not surprising, even with Visa’s distancing itself from crypto a year ago,” said Trenchev last week. “With market uptake, especially with climbing Bitcoin prices, an approved Bitcoin ETF [exchange-traded fund] and an upcoming ‘halving,’ we’re witnessing the nascent stages of a bull market in crypto,” continued Trenchev. Visa and Mastercard don’t want to miss out, arguably. As dramatic and sudden as the announcement may have seemed, it is actually part of a larger process that has been going on for some time. “Visa’s decision to enable real-time card withdrawals is the latest step in the monetization of cryptocurrencies,” William Luther, associate professor in the Department of Economics at Florida Atlantic University, told Cointelegraph. A loss for centralized exchanges? Still, in a dynamic economy — where “creative destruction” is the norm — there are often losers and winners. What does this mean for centralized crypto exchanges like Coinbase and Binance? If Visa can convert a holder’s crypto directly into fiat, why does that individual even need a cryptocurrency exchange? “More users are choosing to directly engage with Web3 through decentralized applications rather than centralized exchanges,” or CEXs, Sami Start, co-founder and CEO of Transak, told Cointelegraph. Asked about the volume of recent crypto withdrawals to Visa cards, Start declined to provide segmented data, but he did say that the firm’s off-ramp transactions — including Mastercard and Visa transactions — “have experienced a growth of approximately 24.27% from December 2023 to January 2024.” Recent: CBDCs: User privacy problem or currency of the future? The threat to centralized crypto exchanges could be exaggerated, however. “The notion that this advancement might disadvantage CEXs and platforms is oversimplified,” said Trenchev. Visa and Mastercard’s involvement in decentralized finance (DeFi) is likely to promote broader cryptocurrency adoption — “which benefits the whole industry.” CEXs still have a play to role. They are “vital in scaling,” continued Trenchev, whose firm was a pioneer in offering a crypto-backed Mastercard in parts of Europe several years back. They provide a degree of reliability, accessibility and security that many DeFi platforms still don’t offer. He added: “The appeal of self-custody in DeFi is clear, but it comes with risks, such as lack of insurance.” Both DeFi and CEXs contribute to the growth of the blockchain ecosystem, Trenchev maintained, and “their successes are mutually beneficial.” Importance of network effects Clearly, there is much more discussion now about crypto as a medium of exchange, which was not the case in the depths of the crypto winter. The biggest hurdle that “would-be” monies face coming out of the starting gate is what economists call “network effects,” explained Luther. They’re not likely to be useful unless your trading partners are willing to use them, and at the outset, few parties are willing to do so, he said, adding: “Intermediaries like Visa have the potential to eliminate the network effect problem. By converting your preferred cryptocurrency on the fly to your trading partner’s preferred money, [they can make a new] medium-of-exchange much more useful.” Visa isn’t the first to take this step. Xapo began offering a Bitcoin (BTC) debit card in 2014. “But Visa supports more cryptocurrencies and boasts a very big network. That’s a big deal,” added Luther. Trenchev seconded this notion that traditional financial firms, including the credit card giants, have been building salients into the crypto world for some time. In 2021, Mastercard purchased CipherTrace — a leading cryptocurrency intelligence company — to enhance its crypto capabilities, while in June 2023, Mastercard announced its Multi-Token Network, an initiative “designed to make transactions within the digital asset and blockchain ecosystems secure, scalable and interoperable,” according to the firm’s executive vice president Raj Dhamodharan. We’re introducing Mastercard Multi-Token Network to make transactions within this ecosystem secure, scalable and interoperable as part of our commitment to support the wider #digital asset industry. https://t.co/Vb1JtnSTjx#blockchain pic.twitter.com/MwkkxbyAuk — Mastercard News (@MastercardNews) June 29, 2023 Visa began supporting the Circle’s USD Coin (USDC) in certain Visa cards in 2020 and followed up in September 2023 by supporting USDC payments settled on the Solana blockchain. Building new connections is what such firms are designed to do. “The core strategy of the payment rails like Visa and Mastercard is to be the network of networks, penetrating any and all venues where exchange takes place,” Lex Sokolin, managing partner at venture capital firm Generative Ventures, told Cointelegraph. “Integrating into the networks of Web3 is the most natural thing for these companies,” said Sokolin, “even less ‘risky’ than it is for asset managers to sell crypto as an investment product.” The question is no longer whether crypto will be a part of mainstream payments and financial services, but rather, how big a part crypto will play, Wasick observed, adding: “So while crypto might still be a relatively small part of payments and financial services — as compared to cash, say — crypto’s dent is getting deeper.” Betraying core principles? Much work still awaits. Some worry about security or loss of privacy. Others fear a growing trend toward financial centralization, which crypto was designed to counter. There are also compliance and tax questions. “I think the primary reason why crypto holders — at least American holders — balk at using crypto for payments is the same as it has been for years: United States tax law,” said Wasick. People don’t want to have to think about tax ramifications every time they purchase a cup of coffee. “But doing it directly with a payment platform like Visa is arguably easier than prior payment methods.” Some crypto purists may view the entry of credit card giants into the space as a further betrayal of the original promise of Bitcoin and other cryptocurrencies for decentralized money beyond the control of any single party, company or government. Luther gave voice to something along these lines. While welcoming the support of Visa and Mastercard, “I also think it is important to recognize the shortcomings.” Yes, they will make it easier to use cryptocurrencies to buy things, “but they do so at the expense of some of crypto’s promise.” More specifically: “They tend to reduce — and, in some cases, completely eliminate — the financial privacy and censorship-resistant features of cryptocurrencies.” Those features are important, Luther added, and he hopes that future developments “will make it easier to use cryptocurrencies in routine transactions while preserving a high degree of anonymity.” Instilling confidence? Finally, what does all this mean in terms of adoption? Crypto adoption is still relatively low — at least as a percentage of the world’s population. And those who own it are often “just holding cryptocurrencies in hopes of price appreciation,” Luther added. But there is another way of looking at things. In this view, crypto is already a part of mainstream payments and financial services. “Some institutional investors hold cryptocurrencies. We have access to crypto futures and ETFs,” said Luther, and a soaring number of payment apps are making sending and receiving cryptocurrencies easier than ever. Related: Is a US stablecoin bill just around the corner? Visa’s new collaboration is also significant because of the impact that it could potentially have on people who, until now, have been hesitant to embrace cryptocurrencies — i.e., not just current wallet holders. The giant credit card companies could give crypto fence-sitters the confidence to act. If so, a sort of virtuous cycle could emerge because as “people become more comfortable with payment solutions, those solutions become more ubiquitous,” said Wasick. “There’s still a long way to go,” Luther summarized. “But cryptocurrencies have come a long way already.”

3 days ago
Cryptos Headlines
Cryptos Headlines
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The price of Terra Luna Classic (LUNC) suddenly fell to $0.00012 from a high of $0.00014, reflecting the ups and downs seen across the entire crypto market this week. Cryptos Headlines Token Airdrop Is Live, Claim $50 Worth Of 5000 CHT Token Free On CryptosHeadlinesToken.com Terra Luna Classic (LUNC) saw a remarkable surge of over 415% in Q4 of last year, peaking at $0.00028 in December. However, this rally was followed by a steep correction, with LUNC dropping by 68% to $0.000087 in January 2024. Profit-taking and market sentiment drove this pullback. Yet, the first quarter has ushered in new market dynamics, notably with the introduction of the Bitcoin ETF. Terra Luna Classic (LUNC) Price Analysis Terra Luna Classic (LUNC) has closely followed the trends of Bitcoin and Ethereum in recent weeks, climbing to $0.00014 in February. However, like other assets, it is susceptible to corrections, currently stabilizing at $0.00012. Ranked 115th in the crypto market, LUNC is down 6.5% today, aligning with Bitcoin’s 2% drop to $51,134. Other altcoins like Solana, Cardano, and Chainlink have also seen declines of 7%, 4%, and 6.2%, respectively. Some observers note a decrease in LUNC’s trading volume to $56 million, suggesting waning interest among traders. However, this decline isn’t unique to Terra Luna Classic, as the total market has also dipped by 1.8% to $1.95 trillion. Traders are closely monitoring two key ranges on the chart: the green region, corresponding to the support of the up-trending channel, must be defended to enhance the likelihood of an immediate recovery. Cryptos Headlines Token Airdrop Is Live, Claim $50 Worth Of 5000 CHT Token Free On CryptosHeadlinesToken.com LUNC price chart | Tradingview Terra Luna Classic (LUNC) Technical Analysis and Market Outlook On the upside, the red-marked area indicates a stubborn short-term resistance level. The selling pressure intensified when LUNC reached $0.00014, prompting more traders to short the token or close their long positions, adding downward pressure. The failure to find relief at the middle boundary support of the channel led to an increase in sell orders. Additionally, the bearish crossover in the Moving Average Convergence Divergence (MACD) indicator suggests a challenging week ahead for LUNC. Short positions are likely to remain profitable until the green area support is reclaimed. Despite the current bearish sentiment, there is hope for an immediate rebound as Terra Luna Classic has previously been accepted back into the ascending channel. However, if losses extend beyond the green band, the 200-day Exponential Moving Average (EMA) at $0.000116 could become a crucial support level. Monitoring Bitcoin’s price movements is essential, particularly if it dips below $52,000. A swift recovery would indicate a stronger trend reversal towards $54,000, which could positively impact sentiment across the market. A bullish outcome for Bitcoin is expected to stabilize altcoins like LUNC as traders anticipate the next upward move. Important: Please note that this article is only meant to provide information and should not be taken as legal, tax, investment, financial, or any other type of advice. #Luna   #Terra   #Altcoin   #LUNC   #USTC

4 days ago
tuNNCay
tuNNCay
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Are Traders Ready To Buy The Dip ??? XRP price sustained an uptrend before last week, topping at $0.58 on Friday. The cross-border money remittance token experienced the first flash drop to $0.54 but due to the support highlighted by the 50-day Exponential Moving Average (EMA), it rebounded, albeit briefly to $0.5735. As Bitcoin stalled due to an important resistance at $53,000 this week, XRP price fell victim to another sell-off round such that it is testing the same support at $0.54 toward the end of the European session on Wednesday. Intraday traders would be on the lookout for acceptance above the dotted trendline, which coincides with the 200-day EMA (the purple line on the chart) to confirm the beginning of another trend reversal. The sell signal in the Moving Average Convergence Divergence (MACD) indicator warns against scooping the current dips, at least until the 200-day EMA resistance is flipped. However, if more traders choose to dwell on shorting XRP, a drop to the lower trendline impends. Long-term holders may find this drop to $0.54, $0.52 (the lower trend line), and even to $0.5, a chance to dollar-cost average backed by the possibility of Ripple winning the lawsuit and an ETF after that. DYOR $XRP #priceprediction #RippleXRP #XRP🚀

4 days ago
Crypto Breaking
Crypto Breaking
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The recent market rally has shown positive signals for many cryptocurrencies and has filled investors with optimistic expectations for the near future. Ignited by the ongoing Bitcoin Exchange-traded Fund (ETF) frenzy, whale accumulation, and meaningful updates from different projects, the market has shown significant growth during the first two months of 2024. Memecoins Face Pullback Despite Growing Market In the last week, Bitcoin and Ether, the two largest cryptocurrencies by market capitalization, have met important milestones that have set the tone for the general market. BTC surpassed the $50,000 resistance zone 9 days ago and has shown strong support above this level ever since. Similarly, this Tuesday, Ether momentarily surpassed the $3,000 support zone for the first time in almost two years. Both milestones have fueled investor’s excitement for the crypto market. Nonetheless, the market showed signals of a momentary slowdown this Wednesday after many cryptocurrencies started seeing a red light decelerating their numbers. According to CoinGecko data, meme coins are not an exception. The sector’s market capitalization has declined 7.0% in the last 24 hours, currently at $21.9 billion and a total daily trading volume of $1.35 billion. Top 10 memecoins by market capitalization. Source: CoinGecko Top Memecoins Among The Biggest Losers As the chart above illustrates, eight of the top ten memecoins face a price downtrend in the 1-hour, one-day, and seven-day timeframes. Pepe (PEPE), dogwifhat (WIF), and FLOKI were among the biggest losers since yesterday. However, CorgiAI (CORGIAI) and PepeFork (PORK) prices show green numbers simultaneously. The top 3 memecoins by market capitalization follow the same trend as the memecoin market. At the time of writing, the prices of Dogecoin (DOGE), Shiba Inu (SHIB), and Bonk (BONK) are displaying negative numbers. Bonk BONK is leading the red path as the biggest loser in the memecoin top 10. Recently, the cryptocurrency saw a revival by its meteoric 25% on-day rally that propelled it back to the top 100 cryptocurrencies. The memecoin sits at the 114th spot of all cryptocurrencies, with a market capitalization of $692.3 million, representing a 5.8% decrease in the last 24 hours. BONK is trading at $0,00001148, indicating a 9.3% and 17.6% price drop in the last 24-hour and seven-day timeframes, respectively.  However, the token’s daily trading volume shows a 10,9% increase compared to yesterday, signaling a recent rise in market activity. Dogecoin As previously reported, DOGE has shown signs of embarking on a bullish recovery after whale activity fueled the rise in trading volume. The ecosystem’s activity increased in the last month, with more than 1 million transactions being processed daily since January 30. DOGE’s trading activity on the last day revealed a 39.3% decline in market activity for the token, with $597.9 million worth of trading volume. According to CoinGecko, its market capitalization sits at $11.88 billion. This indicates a 25% one-day decrease in performance that leaves the token out of the top 10 cryptocurrencies by this metric. Likewise, DOGE’s price shows a 3.5% pullback during the last day, currently trading at $0.083. Shiba Inu SHIB, like DOGE and BONK, has seen a considerable price reduction since yesterday and is currently trading at $0,09399, a 3.8% decrease in this time frame. While its market capitalization has also reduced in the last day (a 2.71% decrease), the daily trading volume for the 19th largest cryptocurrency has increased 15% in the previous 24 hours, at $300.8 million. Despite the recent data signaling a momentary loss of momentum for the memecoin market, it’s worth noting that the top 3 memecoins by market capitalization saw positive performance in the 14-day time frame. In the last two weeks, BONK has seen a 12.7% price upsurge, while DOGE and SHIB have increased a notable 5.6% and 5.9%, respectively. Altcoins market capitalization at $226.114 billion in the 1-day chart. Source: TradingView.com Featured image from Unsplash.com, Chart from TradingView.com and Coingecko.com Disclaimer: The article is provided for educational purposes only. It does not represent the opinions of NewsBTC on whether to buy, sell or hold any investments and naturally investing carries risks. You are advised to conduct your own research before making any investment decisions. Use information provided on this website entirely at your own risk. Source: NewsBTC.com The post Top Memecoins Face Pullback Amid Recent Market Rally appeared first on Crypto Breaking News.

4 days ago

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