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After an impressive 20% surge, the big question now is whether Sui price is primed to hit the $5 mark. An analyst has projected that Sui is in the middle of the third impulse buying Elliot wave that could send the price to $5 when it tops out. This recent surge in price has brought back excitement among Sui investors, who were keenly watching for signs of continued growth.
Why Is Sui Price Up Today?
The price of SUI has increased 7.8% in the last 24 hours, a 16% increase from October 28, when the asset hit a month-low of $1.59. SUI is trading at $1.85 after outperforming BTC, which gained 3.8% against it.
Sui is rising because of the recent surge in the price of Bitcoin, which saw the number one crypto asset break above $70,000. This much-awaited move has the entire crypto space abuzz with speculation of higher prices, especially as we approach the crypto-centered U.S. elections this coming week.
Is Sui Ready To Hit $5?
Crypto analyst Decode has forecasted that the next target for SUI price is $5. His prediction is based on the Elliot Wave theory, which suggests that prices move in repetitive wave patterns, which are influenced by changes in investor sentiment.
Sui missed the 2.618 Fibonacci extension zone when it hit a new all-time high and retraced due to profit taking. However, the correction has completed a smaller wave 4 and is ready to embark on the last wave that could propel it to $5.22.
With analysts calling for $300,000 BTC, Sui investors should be prepared to cash out big time, as previous data has shown that the asset tends to outrun Bitcoin.
Sui Eyes $5 But Must Beat This Obstacles First
Sui is eyeing about 150% gains from its current price of $5. However, the cryptocurrency must overcome certain key obstacles for it to succeed.
- Price action is trending below the 50-day exponential moving average (EMA) which has suppressed the price for the last 1 week.
- Despite the 20% jump, the crypto asset is still trading inside a falling channel.
These obstacles could keep the price from attaining the $5 mark. However, the recent jump was accompanied by a huge boost in volume. Coingecko data shows the 24-hour trading volume soared by 134%. This is the highest volume has recorded in the last 2 weeks.
With such volume confirmation, it is possible SUI price could break above the channel and the 50 EMA to test the next major resistance, $2.36. This would market a 28% additional gains from the current price. If the asset breaks its previous ATH, it would be in price discovery and could surge to $5 within a week or two.
The invalidation thesis for this bullish scenario is if bears push price below $1.59. This would effectively cause a breakdown from the falling channel, changing the outlook from bullish to bearish.
The post After Soaring 20%, Is Sui Price Ready to Hit $5 By December? appeared first on CoinGape.
29 Oct 2024, 1:45 amAfter days of struggle, the Gamestop price has recovered in the last 24 hours, adding 36% to its value with a single peak. It is said that the popular gaming stock Gamestop (GME), especially its 2021 short squeeze inspired the creator to build this token. As a result, it has gained huge popularity in the crypto industry. However, this popularity is not just because of the similar names but because of the massive rallies and profits it has presented.
GME was one of the most popular crypto to buy from May to July. At that time, it achieved an ATH of $0.03207 after two massive peaks, shocking the investors as the market conditions were not entirely favorable. Since then, investors have begun to follow the token in hopes of a future rally, and today might be one of those days, as the GME price is suddenly up by 36%.
Why Is Gamestop Price Bullish Today?
Ever since its introduction, the Gamestop price has been bullish mainly because of some positive news about the GME stocks or comments from the popular finance influencer Roaring Kitty. Even at the time of its ATH rally, investors flocked to the cryptocurrency following Roaring Kitty’s open comments about supporting the GME stock. However, today the token is up thanks to the bull’s dominance in the company’s stock value.
The GME stock chart has lacked upside price movement for some time. However, the Monday charts witnessed one, causing a significant rally. More importantly, it was the best performance since June 6, as almost 13M shares were traded, and the chart was green throughout the Monday. The trading volume for GameStop call options also reached 1.8 times higher than expected, as it came to 80,232 contracts. Even at the day’s end, the market closed, with the stock being 10% up at $22.
At the same time, the Gamestop price also surged, where its price jumped from $0.003688 to $0.004853 within a few hours. It is currently at $0.004587 with a market capitalization of $31.58M. This impressive rally was the outcome of increased trader activity following the hype around the stock price surge. It gets more clear with the 118% surge in the trading volume to $16M.
Will It Repeat The Rally To ATH?
On analyzing the Gamestop price chart, sudden and heavy rallies like today are quite common for this gaming token, but they often fall short with increased volatility. For now, the ongoing price rally is quite impressive, and it was necessary to recover the losses from its earlier drop to $0.003397.
However, this might be just the beginning, as stock analyst Mikey Money predicted a further bullish rally in a YouTube video. As per him, the historical trends indicated that the GME stock price always runs the week of Halloween, boosting users’ confidence in the stock, whose results are also visible in the crypto token Gamestop’s price.
Another crypto analyst states that there is more to come, and the stock price will grow to $25-$28. It could also influence the GME token price rally. However, despite that, a rally to ATH is unlikely at this moment, as the Gamestop price is 85% away from the ATH target. However, with the BTC price surpassing $70K and bulls returning to the market, the token might get closer to the ATH, but for now, the stock’s performance is not bullish enough to push it much higher.
More importantly, with such a sudden rise, there is potential volatility around resistance at 0.004975, which could challenge the uptrend.
The post Why Is Gamestop (GME) Price Bullish Suddenly? appeared first on CoinGape.
29 Oct 2024, 1:44 amWhile blockchain networks are notoriously difficult to hack, cybercriminals still find ways to manipulate users and projects to gain access to their funds. In 2023 alone, more than $1 billion worth of crypto was stolen in multiple attacks according to blockchain analysis firm, Chainanalysis.
Many believe most losses stem from advanced hacking or malware, but the reality is different: the majority of these thefts are the result of social engineering scams. In fact, theFBI’s 2023 report shows 71% of a staggering $5.6 billion in crypto-related losses stem from investment scams rely on social engineering tactics, not hacking.
A recent poll by Trust Wallet revealed how much crypto users know about Web3 security. While most poll respondents claim to exercise caution, the results revealed that 60% of users disregard security warnings even after receiving clear alerts. The poll which was taken by over 1,800 general crypto users and 100 crypto professionals shows that this demographic frequently bypass warnings, prioritizing profit over security.
This widespread complacency makes even seasoned crypto users and financial experts vulnerable to schemes like pig-butchering scams, where trust is built over time before victims are swindled.
Trust Wallet’s Approach to Security
Since its launch in 2017, Trust Wallet has focused on proactive security measures.
To maintain top-tier security standards, Trust Wallet undergoes up to 40 audits a year by renowned third-party firms like Halborn, Kudelski, Cure53 and Certik. In 2024, the company also became the first major self-custody Web3 wallet to earn ISO/IEC 27001:2022 and ISO/IEC 27701:2019 certifications, confirming its dedication to user safety and privacy.
In addition to formal audits, Trust Wallet invites its user community to participate in itsBug Bounty Program, rewarding individuals for identifying security vulnerabilities. This collaborative approach enables Trust Wallet to stay ahead of emerging threats.
From a product perspective, Trust Wallet’s Security Scanner alerts users to risky transactions, dApps, and NFTs, helping them make informed decisions before executing a potentially dangerous action. Each transaction is thoroughly assessed, with clear warning messages for suspicious activity.
The $1M Recovery: A Testament to Trust Wallet’s Security Team
In 2023, Trust Wallet’s Customer Support team was able to recover over $90,000 USD worth of assets. In 2024, that recovery figure sits at an astounding $1 million USD. The recent and largest recovery ever was $400,000 USD for a user who had fallen victim to a social engineering scam.
Social engineering scams like the one mentioned above can happen. For example, an attacker poses as a trusted individual or authority figure, such as a customer support agent from a crypto exchange or wallet, and contacts the user claiming there’s an issue with their account. They persuade the user to provide sensitive information like their login credentials or private keys under the guise of resolving the supposed issue. This allows the attacker to gain unauthorized access to the user’s crypto holdings.
In 2023, a victim lost over $1,500 to a pig butchering scheme. The victim was enticed to join a so-called “mining pool” due to the promised ‘lucrative’ opportunity. The victim eventually realized this was a fraudulent scheme and immediately reported to Trust Wallet customer support. Fortunately, Trust Wallet’s team were able to track and recover the funds for the victim.
Overall since 2023, Trust Wallet has:
- Prevented over $450M from being sent to scammers through its security scanner.
- Blocked users from connecting to 700+ malicious dApps.
- Assisted in recovering $1.1M in stolen funds.
- Shut down 700+ phishing sites and removed 2,300+ scammer accounts.
- Conducted over 40 security audits per year.
These security measures and efforts underscore Trust Wallet’s commitment to creating a safer environment for users navigating the crypto space.
Reflecting on these security milestones and the need to continually strengthen protection measures, Trust Wallet’s Chief Information Security Officer (CISO), Eve Lam stated;
“These milestones highlight our dedication, but they’re just the start. In the ever-evolving Web3 landscape, security must stay one step ahead of emerging threats. At Trust Wallet, we’re committed to not only protecting users but empowering them, creating a safer, more transparent ecosystem for everyone. As leaders in the crypto community, our focus is on building trust and security for the future, ensuring that users can fully embrace the freedom of Web3 without fear of exploitation.”
Prevention-Focused Security Efforts
While Trust Wallet works closely with law enforcement and security experts to assist users, the process of recovering funds remains challenging due to the immutable and irreversible nature of blockchain transactions. In certain cases, assets moved through centralized exchanges can be recovered, but once they pass through privacy tools, recovery becomes nearly impossible.
This highlights a crucial point: prevention is far more effective than recovery. Trust Wallet’s real-time security alerts, provided through its Security Scanner, play a vital role in helping users avoid risky transactions. However, with fewer than 40% of users stopping transactions after receiving these warnings, it’s clear that greater awareness and education are needed to reduce the risks.
Overall, Trust Wallet’s commitment to user protection is focused on prevention. By leveraging tools like the Security Scanner, it aims to foster a safer environment where users can confidently explore Web3. While blockchain offers unparalleled financial freedom, these benefits can only be fully realized when users actively prioritize security and education.
The post Inside Trust Wallet’s 2024 Milestone: Recovering $1M in User Funds appeared first on CoinGape.
29 Oct 2024, 1:29 amFirst Neiro On Ethereum and Turbo garnered substantial attention due to significant price jump amid the broader market’s pump on Tuesday. Notably, the coins climbed over 10% as crypto exchange Binance expanded support for the tokens. The crypto exchange giant recently revealed that it is adding the assets to futures copy trading, sparking investor optimism amid an ongoing price upswing.
Binance Enhances Trade Offerings For NEIRO & TURBO Ignting Optimism
According to an official Binance announcement dated October 29, the futures copy trading division of the exchange will see new USD-Margined perpetual contracts starting today at 09:00 UTC. As per the announcement, these assets are NEIROUSDT and TURBOUSDT, underscoring the firm’s efforts to enhance trade offerings for users.
Copy trading refers to a phenomenon where traders on the platform can copy experienced traders’ portfolios in real-time, capitalizing on investment opportunities. In light of TURBO & NEIRO emerging as the hot topics of the meme coin sector with phenomenal price gains recently, these enhanced offerings could pave the way for further investor participation in the asset, thereby helping sustain gains.
Meme Coins Prices Soar
Simultaneously, the mentioned coins’ prices surged remarkably in the wake of the exchange’s enhanced offerings and the broader market trend today. At press time, NEIRO price has gained nearly 10% over the past day and is currently trading at $0.001693. The coin’s 24-hour low and high were $0.001467 and $0.001741, respectively.
Similarly, TURBO price followed, witnessing an uptick of roughly 10% to reach $0.009518. The coin’s intraday low and high were recorded as $0.008604 and $0.0103, respectively. Overall, the coins’ mirror a bullish movement today amid Binance’s extended support, sparking market discussions.
Meanwhile, it’s worth mentioning that similar past chronicles have also projected a bullish impact on the same coins’ prices. CoinGape Media reported that TURBO price shot up notably after the same exchange added a new TRY-pegged trading pair for users earlier this month.
Similarly, NEIRO price skyrocketed roughly 115% as the abovementioned exchange integrated futures and spot trading for the meme token the previous month. Overall, enhanced offerings by the leading exchanges usually fuel a positive impact on asset prices.
The post NEIRO & TURBO Prices Set 10% Recovery With Binance Copy Trading? appeared first on CoinGape.
29 Oct 2024, 1:14 amIn a remarkable performance, T-Rex’s 2x MicroStrategy ETF (MSTU) has gained a staggering 225% within just six months of the launch of the investment product. Bloomberg ETF Strategist Eric Balchunas noted that this is an annual equivalent of a 57,000% growth rate. MicroStrategy has been making waves recently with the MSTR stock price hitting new all-time highs and shooting past $250 levels on Monday.
MicroStrategy ETF Enters Top 1%
Clocking more than half a billion in daily trading volumes, the MicroStrategy ETF MSTU has entered the top 1% of all ETFs by trading volumes. Additionally, this 2x leveraged ETF from MicroStrategy has also crossed $1 billion in assets under management (AUM), surpassing the original 1.75x MSTR ETF.
Bloomberg analyst Eric Balchunas stated that MSTU is essentially behaving like a “4x Bitcoin ETF,” having a 30-day volatility of 168%, against the 41% of BlackRock’s IBIT ETF.
This product, he pointed out, achieves a level of exposure otherwise prohibited by U.S. regulations on Bitcoin ETFs by doubling the already leveraged MicroStrategy stock. “By 2x-ing $MSTR (which is 2x BTC), they effectively created the ultimate trading tool,” Balchunas added, underscoring the unique appeal of MicroStrategy ETF MSTU.
$MSTU is essentially a 4x Bitcoin ETF. Its 30d volatility is 168%. $IBIT is 41%. Notable bc you can't launch a 4x bitcoin ETF (or a even a 3x bitcoin ETF) in the US but.. by 2x-ing $MSTR (which is 2x btc) they effectively created the ultimate degen trading tool. What a country.. https://t.co/JEC7gInsXO
— Eric Balchunas (@EricBalchunas) October 28, 2024
MSTR Stock Rally Is Unstoppable
The MicroStrategy share price has been on an unprecedented rally with a staggering 51% gain in the past month. The 10:1 MSTR stock split back in August has renewed investor interest by driving more investor participation.
Ever since the adoption of the Bitcoin strategy in September 2020, the MSTR stock has gained a staggering 1500%. For all these years, it has also served as a proxy bet for Bitcoin while outperforming BTC are several stages. Not only this, MSTR also beats trillion-dollar tech firms like NVIDIA when it comes to total percentage returns.
Over the past few years, MicroStrategy has also conducted multiple rounds of stock sales and raised money to buy additional Bitcoins. Thus, it holds the rank of being the largest corporate holder of BTC with a $14 billion investment over the past few years. Additionally, the company is planning to launch its own Bitcoin Bank.
MicroStrategy executive chairman Michael Saylor has been sharing his Bitcoin playbook with other corporate players. Recently, he also pitched Microsoft’s Satya Nadella to help with his Bitcoin Strategy and create an additional trillion dollars in wealth for Microsoft shareholders.
Signs of Overvaluation?
On Monday, October 28, the MSTR stock price rallied by an additional 8.96% shooting to its all-time high level of $255. Amid the gold rally, renowned economist Peter Schiff also compared MSTR with gold mining firms.
Schiff drew a comparison between MicroStrategy and gold mining companies, pointing out that despite MicroStrategy “earning nothing and producing virtually nothing,” its valuation surpasses that of all gold mining companies except for Newmont.
Steno Research analyst Mads Eberhardt pointed out that MSTR investors have enjoyed massive gains but need to maintain caution moving ahead. He also stated that the arrival of options for spot Bitcoin ETFs will reduce the investor appeal for holding the MSTR stock instead of ETFs, over a period of time.
The post MicroStrategy ETF (MSTU) Enters Top 1% In Six Weeks of Launch, What’s Next? appeared first on CoinGape.
29 Oct 2024, 12:47 amAmid all the debate and discussions over Ethereum’s underperformance, co-founder Vitalik Buterin has been consistent in sharing new updates for the platform. Earlier today, Buterin shared a detailed blog post sharing key initiatives to optimize EVM as well as account security as part of ‘The Splurge’ roadmap. Following the development, the Ethereum Price has surged 5.5% moving past $2,600 levels as of press time.
Vitalik Buterin: The Splurge Roadmap to Enhance Protocol Design
Last week after sharing key insights on Ethereum ‘The Verge’ upgrade, Buterin shared another update to optimize the Ethereum Virtual Machine (EMV) as well as boost account security. ‘The Splurge’ roadmap from the Ethereum development team focuses on refining the Ethereum protocol to ensure its long-term success.
As a result, ‘The Splurge’ update comes with some ambitious objectives like EVM optimization, Account abstraction, transaction fee optimization, and advanced cryptography explorations, ber the blog post shared by Vitalik Buterin.
- EVM Optimization: The goal here is to transform the Ethereum Virtual Machine (EVM) to a more stable and efficient “endgame state”. Currently, the EVM designs face challenges in analysis and efficiency. The upcoming EVM Object Format (EOF) aims to rectify this with features such as:
- Separation of executable code from data.
- Banning dynamic jumps to enhance code safety.
- Introduction of a new subroutine mechanism for improved performance.
Following EOF implementation, the development team has planned subsequent updates like EVM Modular Arithmetic Extensions (EVM-MAX) and potential integration with Single Instruction Multiple Data (SIMD) features will further boost performance, particularly for cryptographic operations.
- Account Abstraction: At present, transaction verification solely depends on ECDSA signatures which makes key management and security management a bit complicated. The planned EIP-7702 will introduce features that allow all users, including those using externally owned accounts (EOAs). Thus, users will benefit from enhanced convenience without creating separate ecosystems. This development will simplify key management while enhancing security via advanced methods like multi-party computation.
Key Trade-Offs and Integrations
The introduction of EOF and account abstraction could bring new challenges associated with the complexity of the EVM and infrastructure, noted Vitalik Buterin. However, he noted that these developments would simplify higher-level programming while enhancing the efficiency of other Layer 2 solutions.
As Ethereum continues to evolve, the implementation of EVM-MAX combined with SIMD will be pivotal in reducing gas costs and improving overall performance.
Through these strategic enhancements, Ethereum will solidify its position as a leading blockchain platform. Besides, it will ensure that it remains adaptable and secure in a rapidly changing technological landscape.
Ethereum Price Gains 5.5%
Following the announcement from Vitalik Buterin, and amid the broader crypto market rally, the Ethereum price is up 5.5% trading at $2,612 levels with daily trading volumes skyrocketing by 93% to $21.69 billion.
It seems that investors have decided to look past the pessimism and concerns that ‘Ethereum is Dead‘ while targeting higher levels of $3,000 and more. For some weeks, the world’s second-largest altcoin has suffered to gain enough traction with the ETH/BTC pair hitting multi-year lows. Also, while the Ethereum price gains, the co-founder has been moving 400 ETH to four different addresses per the Peckshield data.
#PeckShieldAlert #VitalikButerin has transferred 400 $ETH to 4 addresses, polymathkids.eth, crystalhearts.eth, 0xbd9b…8c5f & 0xCF344…73F4 pic.twitter.com/q7VqANbee0
— PeckShieldAlert (@PeckShieldAlert) October 29, 2024
Earlier this week, Vitalik Buterin defended the sell-off from the Ethereum Foundation stating that it is part of their practice to pay all developers, validators, and other contributors within the ETH ecosystem.
The post Ethereum Price Gains 5.5% As Vitalik Buterin Unveils The Splurge Update appeared first on CoinGape.
28 Oct 2024, 11:30 pmShiba Inu price is gearing up for a 300% surge after a confident Bitcoin analyst predicted a key shift in the crypto landscape. The optimistic forecast comes with the reassurance that the drastic 80%+ crashes that previously plagued the crypto markets are now a thing of the past. Can SHIB price surge 300% in this new market landscape?
The SHIB price has risen 7.8% in the last 24 hours to $0.00001824. It is among the top 20 gainers over the past day, as Bitcoin price momentum has pushed the entire crypto market up by 3.2%.
80% Drops Are Over, What’s Next For Shiba Inu Price?
The famous crypto analyst PlanC has predicted that the era of ‘80%+ drops is behind us’. His forecast comes after Bitcoin’s price soared past the psychological barrier of $70,000, breaking an 8-month consolidation zone.
I don’t think we’ll see a capitulation correction as extreme as in the past—60% to 70% max.
The days of 80%+ drops are behind us. Do you really think Bitcoin would hit $200k and then drop back to $40k, breaking through eight months of solid consolidation support?
— PlanC (@TheRealPlanC) October 29, 2024
PlanC also noted that Bitcoin has “tons of room to run” and said the current BTC price is “Base Camp.” This is important for Shiba Inu price because the meme coin has a sizeable 82% correlation with Bitcoin on the 3-day timeframe and 76% on the weekly timeframe. This means that when Bitcoin’s price moves higher or lower, there is a high likelihood that the price of HSIB will follow the same trend.
According to PlanC, BTC has had four major summits (tops) since its inception, in which BTC’s price corrected into a bear market every time.
The reading on the Glassnode Entity-Adjusted Short-Term Holder Net Unrealized Profit & Loss (90-day EMA), a metric used to assess the profit and loss of short-term BTC holders, shows every time it hit 0.34-0.38 range, it marked the market top, resulting in a bear market. Today, the metric is at 0.02, which suggests that Bitcoin price is nowhere near the top.
Shiba Inu price is expected to rally as soon as Bitcoin breaks above all-time highs.
SHIB Price Analysis: Will Shiba Inu Surge 300%
Shiba Inu’s price already broke out around mid-September but hit a snag around $0.000019. The recent market uptick caused by Bitcoin’s momentum above $71,000 has revived SHIB’s price action, and bulls are eyeing a break above that one-month resistance level.
Key resistance levels on the way up include $0.000019 and then $0.0000299, a 63% increase from the current price. If the price continues soaring, the following targets could be $0.000045 and $0.00006, a 215% increase. From here, SHIB will only be 50% shy of its previous all-time high.
Shiba Inu price forecast shows bears can spoil the bullish thesis if they push prices below $0.00001200. This would invalidate the inverse head and shoulder bullish reversal pattern, rendering Shiba Inu bearish.
The upcoming crypto-centric U.S. elections are expected to exponentially boost the price of Bitcoin and Dogecoin (DOGE), which could trickle down to Shiba Inu as it shares a 97% correlation with DOGE and 82% with Bitcoin. Key levels to watch for are $0.000019 on the upside and $0.000015 on the downside.
The post Shiba Inu Price Eyes 300% Surge As Analyst Warns ‘80%+ Drops Are Behind Us’ appeared first on CoinGape.
28 Oct 2024, 11:25 pmCardano price could be on the precipice of a massive upside move as Bitcoin eyes an ambitious $300,000 milestone. Analysts have speculated how this could happen in the next 10 to 18 months as BTC’s price looks to clear an 8-month consolidation zone. Can Bitcoin’s momentum drive the price of Cardano to $5 and beyond?
Why Is Cardano Price Up Today?
On October 29, the ADA price increased by 4.6% to trade at $0.3491 during the London pre-market hours. This increase is likely attributed to Bitcoin’s surging above the psychological resistance level of $70,000, which has investors hoping for a new all-time high in the coming days. The crypto market is up 2.5%, with meme coins leading the rally.
Additionally, analysts foresee Cardano price surging in the future as they recently announced an ADA-BitcoinOS bridge that could capitalize on the $1.4 trillion BTC market by bringing DeFi to the king of crypto
BitcoinOS Makes Cardano:
A DeFi Layer for Bitcoin
A Privacy Layer for Bitcoin
A $1.3 trillion opportunity, all accessible using BTC as gas. Bitcoiners won't even know they're using ADA.
"BitcoinOS is probably the biggest news item Cardano has ever had." – @IOHK_Charles https://t.co/jsZ40UU7ht pic.twitter.com/uv9nQGHZJi
— BitcoinOS (@BTC_OS) October 28, 2024
This news has caused Cardano’s social dominance to surge, leading to the ‘Cardano’ term trending on X. Spikes in social dominance suggest that an asset is being heavily discussed on social media platforms, and if the discussions are positive, they are usually followed by a price increase.
With Bitcoin price rising, speculation on how Cardano becoming a Bitcoin L2 could pump the price of ADA has saturated the crypto space.
Will ADA Price Hit $5 If Bitcoin Soars to $300K?
Famous crypto analyst PlanC has predicted, using his popular Power Law indicator, that Bitcoin price will reach $150,000 to $300,000 within the next 10 to 18 months. He notes that the last eight months have been a healthy consolidation, and once BTC breaks above the $80,000 mark, “the probability of ever dropping below $60k will be extremely low.”
Once Bitcoin breaks $80,000…
I predict there will be a very low probability
of BTC ever dropping below $60,000 again.
— PlanC (@TheRealPlanC) October 29, 2024
Crypto trader Zach Humphries thinks Cardano price will set new all-time highs around $5 during this cycle. This would push the ADA market cap to around $178 billion, with 35 billion coins circulating.
This prediction is likely since the highest price Cardano has ever reached was $3.10. Currently, ADA is 89% down from the ATH, presenting a massive 1300% potential increase from the current price.
If Cardano founder Charles Hoskinson executes his vision with BitcoinOS to bring BTC into the crypto fold, the price of ADA will soar even higher than $5.
Cardano Price Analysis: Key Levels To Watch
Cardano price action is not pretty, even though the market is green. The asset is up only a few percentage points, but the market structure is mostly bearish, with several strong resistance levels up ahead.
However, this should not be a worrying factor, as ADA prices have been known to surge aggressively during bull markets.
Key levels to watch include $0.43, which marks the immediate resistance, and beyond that, $0.67, which coincides with the 78.6% Fibonacci retracement level. Conversely, Cardano may find support between $0.20 and $0.3 if bears push the price down.
While analysts are extremely bullish on the ADA price in the long term, the short-term prediction for the asset is neutral to slightly bullish. However, this outlook can change at any moment if market conditions shift. A clear breakout above $0.67 will change the outlook to extremely bullish, while a break down below $0.3 will turn the prediction bearish.
The post Can Cardano Price Hit $5 If Bitcoin Hits $300,000? appeared first on CoinGape.
28 Oct 2024, 10:10 pmThe cryptocurrency prices today have set off optimistic waves across the broader market, embarking upon a notable upside momentum. Bitcoin (BTC) price gained remarkably to cross the $71K mark, whereas Ethereum (ETH), Solana (SOL), and XRP prices traded dominantly in the green territory. Simultaneously, the meme coins sector saw phenomenal gains, aligning with the broader market trend.
Besides, the global crypto market cap witnessed a 4.5% increase in value to $2.41 trillion. Further, the total trading volume witnessed a 102.14% rise to $97.61 billion. Here’s a brief report on some of the top cryptocurrencies by market cap and their price action on October 29.
Cryptocurrency Prices Today: BTC, ETH, SOL, and XRP Soar
While BTC price surged to cross $71K, ETH regained a hold above $2,600 today. Simultaneously, SOL & XRP prices gained 1%-3% intraday. Further, Dogecoin (DOGE) & Shiba Inu (SHIB) prices also witnessed an uptick of 16% and 8%, respectively. So, let’s take a closer look at some of the major coins’ prices today.
Bitcoin Price Today
BTC price surged nearly 5% in the past 24 hours and is now trading at $71,036. The coin’s intraday low and high were recorded as $67,535.13 and $71,475.47, respectively. Further, the flagship crypto’s pumping movement falls in with $479.35 million worth of inflows in spot Bitcoin ETFs as of October 28. Also, BTC’s market cap rested at $1.4 trillion today. Meanwhile, the coin’s market dominance saw a 0.31% increase, reaching 58.52% at press time.
Ethereum Price Today
ETH price gained roughly 5% in the past 24 hours and is now trading at $2,607. The coin’s 24-hour low and high were recorded as $2,471.76 and $2,627.13, respectively. Sosovalue data indicated that spot ETH ETFs conversely recorded $1.14 million worth of outflows yesterday, despite which the coin soared remarkably, sparking optimism. ETH’s market cap was evaluated as $313.94 billion today.
Solana Price Today
The crypto SOL’s price witnessed a nearly 4% increase in value and is now trading at $182. The coin’s intraday low and high were recorded as $172.87 and $181.88, respectively. Solana’s market cap rested at $85.59 billion today. A recent CoinGape Media report revealed that the coin even eyes a $400 price target ahead as whales accumulate SOL heavily.
XRP Price Today
Simultaneously, XRP price chart indicated gains worth 2% in the past 24 hours and is now trading at $0.5236. The coin’s intraday low and high were recorded as $0.5114 and $0.5255 respectively. XRP’s market cap rested at $29.75 billion today. The Ripple-backed coin rises against the backdrop of notable XRP whale movements.
Meme Coins Performance Today
Dogecoin (DOGE) witnessed a nearly 15% uptick in value intraday and is now trading at $0.1668. Similarly, Shiba Inu (SHIB) witnessed an 8% upswing in value and is now trading at $0.00001835. Pepe Coin (PEPE), dogwifhat (WIF), and POPCAT prices soared 6%-17% in the past 24 hours, aligning with the broader market movement.
Top Cryptocurrency Gainers Prices Today
Mog Coin
MOG price surged nearly 15% over the past day and is now trading at $0.000001931. The coin’s intraday low and high were recorded as $0.000001661 and $0.000001962, respectively.
THORChain
RUNE price followed, gaining nearly 16% to $6.14 today. The coin’s intraday low and high were $5.26 and $6.19, respectively.
Bitcoin SV
BSV price also followed, rising 15% over the past day to reach $52.35. The coin’s intraday low and peak were evaluated as $45.16 and $52.25, respectively.
Top Cryptocurrency Losers Prices Today
MANTRA
OM price slipped 2.5% intraday and is now trading at $1.37. The coin’s intraday low and high were recorded as $1.34 and $1.42, respectively.
Celestia
TIA price waned roughly 1% in the past 24 hours and is now trading at $5.06. The coin’s intraday low and high were recorded as $4.79 and $5.23, respectively.
ApeCoin
APE price dropped nearly 0.5% in the past 24 hours and is now trading at $1.08. The coin’s intraday low and high were recorded as $0.9967 and $1.08, respectively.
Besides, the hourly time frame charts once again showed mixed actions, sparking investor speculations over cryptocurrency prices today. BTC price waned 0.21%, whereas ETH gained by 0.08%, sparking contrasting market sentiments.
The post Cryptocurrency Prices Today Oct 29: BTC Tops $71K, Major Altcoins & Meme Coins Soar appeared first on CoinGape.
28 Oct 2024, 9:40 pmIn what seems to be a broader crypto market rally, Bitcoin (BTC) and altcoins have recouped from the selling pressure while seeing a sharp bounce today. Bitcoin (BTC) is up 5.4% moving all the way past $71,200 and less than 5% away from here to hit another all-time high level. Ethereum (ETH), BNB Coin, Solana (SOL), and others too have joined the bandwagon while registering modest gains. This massive thrust comes just ahead of the US elections as the Trump trade kicks in across equity and crypto markets. Meme coins like DOGE and SHIB are staging even greater gains of over 10%.
Bitcoin Leads Crypto Market Rally Eyeing New ATH By US Elections
With US election results in less than a week from now and Donald Trump extending his lead over Kamala Harris in the prediction market, the Bitcoin (BTC) price eyeing a new all-time high soon. As per the Polymarket data, Donald Trump now has a 66.3% chance of winning the elections while some players predict a landslide victory for the former President.
This shows that Bitcoin is currently turning out to be a Trump trade. In a note to investors, Tony Sycamore, a market analyst at IG Australia Pty, wrote:
The token drew succor from an overnight rally in stocks and is continuing to “price in a Donald Trump election victory”.
On the 5-month chart, the BTC price also shows massive technical strength. Renowned trader Peter Brandt noted that Bitcoin has now completed a five-month inverted expanding triangle pattern, now seen as a bullish indicator.
As Bitcoin breaks this pattern, the follow-through will be important, said Brandt. He also noted that the sequence of lower highs and lower lows seen since March appears to have ended. This shows that the post-halving rally may now be underway with analysts expecting BTC to hit $80,000 by November end.
On the other hand, spot Bitcoin ETFs have seen record inflows of more than $3 billion in the month of October so far. BlackRock’s IBIT has been leading dominantly in this crypto market rally with daily inflows averaging around $200 million in the past ten trading sessions.
On Monday, October 28, the total inflows across all US Bitcoin ETFs were close to $500 million with IBIT clocking more than $300 million in inflows. With more than $24 billion in inflows since inception, BlackRock IBIT ranks among the top three ETFs launched in 2024.
Investors Eagerly Watch for Altcoin Rally Ahead
While Bitcoin has been leading the crypto market rally throughout, investors have been eagerly waiting for an altcoin rally. Along with Bitcoin, the Ethereum price has surged 5.3% moving past $2,600 levels with daily trading volumes crossing $21.4 billion. This puts to rest the investor concerns that ‘Ethereum is Dead‘.
Other top gainers within the altcoins space are Bitcoin Cash (BCH) gaining 8%, Avalanche (AVAX) up by 5.86%, Cardano (ADA) gaining 3.96%, etc. BNB Coin and Solana (SOL) are seeing modest gains at 3% each.
Popular crypto analyst Miles Deutscher believes that rising Bitcoin dominance to 60% is actually good for the altcoin rally ahead. He wrote:
“Some may view this as a bad thing, but it’s actually great for altcoins. Bigger altcoin rallies are always led by an initial period of BTC outperformance. That’s what creates a healthy/sustainable run”.
On the other hand, meme coins are seeing even bigger gains with DOGE and SHIB surging by 10% each. Here are the top three altcoins to watch for a rally in the upcoming month of November.
The post Crypto Market Rally: Here’s Why Bitcoin, ETH, XRP, DOGE, SHIB Are Rising appeared first on CoinGape.
28 Oct 2024, 9:20 pmFetch ai has successfully completed its network upgrade under Proposal 33, marking a pivotal moment for the decentralized AI-focused platform. The upgrade seamlessly integrates the Fetch ai mainnet with the CUDOS network, merging all CUDOS tokens and staked assets according to predefined token ratios and a three-month vesting schedule.
Following the upgrade, analysts are optimistic about the potential impact on Fetch.ai’s (FET) price, with some projecting substantial gains.
Fetch AI Completes Network Upgrade
The integration of the CUDOS mainnet into Fetch ai brings new interoperability and functionality to the Fetch.ai ecosystem. By merging with CUDOS, Fetch.ai has broadened its decentralized computing capabilities, allowing for more efficient and scalable AI and blockchain-based applications.
Sebsequently, the Fetch ai team acknowledged the rapid and professional efforts of its validators, who ensured that the network upgrade went smoothly, restoring consensus formation and stable network operations.
The community’s patience and support throughout the upgrade were also highlighted by Fetch.ai, as this integration paves the way for further advancements. With this merger, Fetch.ai aims to strengthen its position within the Artificial Superintelligence (ASI) Alliance, a consortium of decentralized AI platforms including SingularityNET and Ocean Protocol.
New Cross-Chain Opportunities with Injective Partnership
Fetch.ai is also making strides in cross-chain interoperability through a recent partnership with Injective, a decentralized finance (DeFi) protocol. This collaboration allows Fetch.ai to replace its Inter-Blockchain Communication (IBC) protocol light client with Injective’s technology, enabling more efficient cross-chain asset transfers between the Fetch.ai and Injective networks.
According to market observers, this could open up new DeFi opportunities, further boosting the company’s ecosystem.
Market activity around Fetch.ai derivatives has already increased, with trading volume rising by 93.89% to reach $121.26 million. Open interest, a metric indicating the total number of outstanding derivative contracts, has also seen a 3.22% uptick, suggesting renewed interest from traders. This heightened activity reflects growing market confidence and perhaps bullish sentiment toward Fetch.ai’s recent upgrades.
Analysts Predict Strong Price Potential for FET
Market analysts are closely monitoring FET’s price action following the network upgrade and the Injective partnership. Technical analyst “World of Charts” recently noted a breakout from a descending channel, signaling a potential reversal from the previous bearish trend. After breaking out, the price retested this level, which could confirm a bullish trend if sustained. World of Charts suggests that this setup could propel FET towards a $5 target in the short term.
On a more optimistic note, crypto analyst DamiDefi has projected that FET price could climb to as high as $13. According to DamiDefi, the combination of the technical breakout, increased trading activity, and the successful network upgrade provides a strong foundation for further price appreciation.
The recent formation of a “Cup and Handle” pattern, a bullish continuation indicator, supports this prediction. If FET breaks out from this pattern with high volume, a significant price rise could follow. The Relative Strength Index (RSI) for FET remains within a neutral range, around 44.68, suggesting that the asset has room for upward movement without being overbought.
The price is also testing a key support level around $1.25, which could serve as a solid foundation for further gains if it holds. Analysts note that breaking through resistance levels at $1.40, $1.70, and $2.10 could confirm a stronger bullish momentum, potentially leading to new highs.
The post Fetch AI Completes Network Upgrade , Can FET Price Reach $13? appeared first on CoinGape.
28 Oct 2024, 5:36 pmThe XRP price is in focus following a crypto whale’s transfer of $51 million worth of XRP. This development provides a bullish outlook for the coin, considering the impact this category of investors could have on price as they accumulate more XRP.
XRP Price Could Rally As Whales Make Their Move
The XRP price could rally as whales make their move with a $51 million worth of XRP transfer. Onchain data shows that a transfer of 100 million XRP ($51.6 million) occurred between two unknown wallets. This is bullish since the transfer wasn’t to an exchange, as it would suggest that the whale in question is looking to sell their coins.
Instead, with the transfer to another wallet, the whale could have moved it simply for security purposes as they look to hold for the long term. This comes amid the appeal case between Ripple and the US Securities And Exchange Commission (SEC). This whale activity is a positive for XRP, suggesting that the long-running legal battle no longer impacts investors’ sentiment toward the coin.
Meanwhile, the whale activity follows crypto analyst Egrag Crypto’s recent prediction that XRP could hit $95 soon. Factors like a surge in whale activity could help spark this unprecedented price rally. However, for now, the focus will undoubtedly be on XRP finally enjoying a successful breakout above the $0.6 resistance, which it has retested multiple times following Judge Analisa Torres’ final judgment back in August.
How The Crypto Move With The Bitcoin Price
Egrag Crypto has provided another perspective on how the XRP price could move with the Bitcoin price. The analyst claimed that XRP could reach $4.43 if BTC rises to $100,000. He remarked that this 555% price gain would mirror the last cycle’s high.
Furthermore, Egrag mentioned that XRP could rise to $5.76 if BTC hits $130,000, rally to $6.64 if the flagship crypto reaches $150,000, and hit $7.53 and $8.86 if the Bitcoin price surges to $170,000 and $200,000 respectively.
The analyst noted that this price target between $4.43 and $8.86 is the worst-case scenario for the coin as he believes the XRP price will rise higher than this. According to Egrag, “Worst-case scenario or not, there’s still Big potential” for XRP.
Meanwhile, crypto analyst Dark Defender drew a correlation between the XRP price and the Bitcoin price, although from a different angle. In an X post, he mentioned that the XRP bull run starts when Bitcoin dominance declines. He noted that this happened in 2017 and 2021, so he doesn’t expect this time to be different.
The accompanying chart he shared showed that the XRP bull run will begin next month and last until November 2025. Based on the chart, XRP will reach double digits and rise to as high as $99.
The post XRP Price To Rally As Whales Move $51M? appeared first on CoinGape.
28 Oct 2024, 3:09 pmBinance Coin (BNB) price has experienced notable fluctuations this year, marking significant highs and facing subsequent corrections. Following its peak of $720 in June, BNB entered a downward phase, later transitioning into an ascending triangle pattern. With bullish momentum building, BNB is approaching a critical resistance level, fueling speculation of an impending breakout.
Will Binance Coin Price Reach ATH Soon?
BNB the world’s largest crypto exchange, shows strong bullish momentum. The value of BNB is at approximately $598, and BNB has surged 164% year-to-date, reflecting positive investor sentiment. However, it remains about 20% below its all-time high of $720, set in June 2024.
For BNB to reach or surpass its ATH before the year ends, it would need to rally by this remaining 20%. If it can break through key resistance levels at $610 and $650, a push to reclaim its ATH could be within reach. The anticipated growth of Binance’s platform, alongside increasing trading volumes and adoption, fuels the optimism for a continued upward trend.
With these factors, the top altcoin might be poised to challenge the $720 mark, especially if market conditions remain favorable. A price breakout above these resistance levels could signal a potential return to its historical peak, marking a notable milestone for the cryptocurrency.
Crypto Market Shows Signs of Recovery, Sparking Global Investor Optimism
The crypto market displayed signs of recovery today, igniting optimism among investors worldwide. Bitcoin (BTC) has climbed back to the $69,000 level, while Ethereum (ETH) surged above $2,500, marking substantial gains in the market’s top assets.
These increases in BTC and ETH have influenced a ripple effect on other leading cryptocurrencies, including Binance Coin (BNB). The positive trend fuels speculation that the broader market may continue its upward movement.
The whale accumulation trend in Binance Coin has garnered attention, revealing a notable link between large stablecoin holdings and BNB price fluctuations. Since April, whale holdings of stablecoins worth over $5 million have experienced sharp variations, starting with a decline, then a surge in June, peaking in October and recently stabilizing.
With bullish momentum building, Binance Coin could soon test its previous all-time high, driven by market recovery and investor optimism. Breaking critical resistance levels may propel BNB toward $720, underscoring the coin’s strong potential for growth.
The post Can Binance Coin Price Reach $720 If It Mirrors Its June Rally? appeared first on CoinGape.
28 Oct 2024, 2:53 pmHoward Lutnick, the billionaire chief executive of Cantor Fitzgerald, hailed Donald Trump as the best choice for rich America.
He underlined that one of the good sides of a former president is that he took care of the American worker and growth in America, but also him being a crypto advocate and wanting to implement tariffs.
Lutnick Praises Donald Trump’s ‘America First’ for Economic Growth
In a recent podcast with Anthony Pompliano, founder and CEO of Professional Capital Management, Howard Lutnick argued that Donald Trump’s “America first” policy helped attain 3% GDP growth and wage increases during his term.
He added that the tariffs protected American jobs, and the economy built up American manufacturing through Trump.
On the opposing side, Lutnick showed his criticisms of Democratic policies. This includes the American Rescue Plan, which he deemed over-incentivizing the economy, causing inflation, and further hurting the middle to the working class. However, the appreciating assets were enjoyed by the rich.
This 2-hour conversation with @howardlutnick is a must listen.
We discuss the US economy, inflation, currency debasement, government spending, tariffs, the Presidential election, and what Howard endured on 9/11.
I spend much of my time thinking about the economy and how to fix… pic.twitter.com/s8pT7d8GXD
— Anthony Pompliano (@APompliano) October 28, 2024
To Lutnick, Trump’s approach to protecting American jobs and sustaining wealth-building opportunities makes him the ideal advocate for both economic stability and wealth growth in the US.
Trump’s Tariff Policy Could Boost Jobs and Wealth
According to Lutnick, Donald Trump’s tariff policy is the new face of safeguarding American prosperity. America, therefore, must maintain its economic strength. The billionaire said that if the government has to tax its people with a considerable amount, for instance, up to $400 billion, which has been the case when a country levies heavily in terms of taxation on its citizens, then this should be levied against the foreign producers, such as those from China.
He said that before an income tax existed in 19th century, the US could thrive when it relied solely upon tariffs. That had allowed way to the gigantic public investment in infrastructure by politicians and figures like Teddy Roosevelt.
This surplus-generated model was how this nation could build without skinning off its citizens. According to him, this shift away from tariffs after the world wars, left the US open to economic exploitation. That happened because tariffs were dropped in favor of income taxes to fund global rebuilding efforts.
Lutnick believes Trump’s plan brings a return to economic nationalism. It does that by using tariffs to force foreign companies to “pay to play” in the American market. It is also restoring an economic strategy that will directly benefit American manufacturing, jobs, and wealth.
Bitcoin as a Commodity, Not a Currency
Unlike a currency that threatens the dollar, Bitcoin is more widely accepted as a commodity in finance.
With him would probably agree the CFTC Chair Rostin Benham who also thinks of Bitcoin as of a commodity. He recently urged Congress to legislate on crypto regulation and election betting.
Lutnick imagines that with more institutional finance acceptance – the acceptance will expand more and more, thus pushing up its value. He also thinks that Trump’s economic policies, like tariffs and the revitalization of manufacturing, align with the ethos of self-sufficiency and financial independence principles. All of this, Bitcoin even furthers by offering a decentralized asset.
Recently, some reports showed that crypto-friendly Donald Trump’s win in the 2024 US presidential election may trigger a Bitcoin price rally to $92K.
The billionaire believes that Trump is open to innovation, and his protection policies for the American worker, combined with Bitcoin being a non-governmental commodity, can potentially raise prosperity throughout the US.
The post How Donald Trump And Bitcoin Will Save The US Economy appeared first on CoinGape.
28 Oct 2024, 2:52 pmMarket analyst Justin Bons has stirred conversation with his recent statements on Ethereum, expressing skepticism about its future. Bons, a vocal figure in the crypto space, points to issues around Ethereum’s approach to scaling and what he describes as a shift away from its original vision. He suggests that ETH’s current reliance on Layer 2 (L2) solutions over scaling its Layer 1 (L1) has placed it on a challenging path. This situation could hinder its growth prospects in a rapidly competitive market.
Justin Bons Argues ETH Layer 1 Scaling Has Stagnated
In a recent thread on the X platform, analyst Justin Bons criticized Ethereum’s trajectory, claiming that its Layer 1 development has stalled while Layer 2 solutions take priority. Bons attributes this stagnation to the financial incentives driving developers and venture capitalists (VCs) to focus on Layer 2 projects.
According to Bons, developers can earn significantly more from launching L2 projects than from contributing to Layer 1 enhancements, creating what he calls a “perverse incentive” structure that could impede ETH price and the network’s growth.
This incentive, Bons argues, has led to Ethereum’s Layer 1 being purposely held back to benefit profit-driven L2 projects. He contends that with L2 projects offering quick financial gains, developers have limited motivation to improve Ether’s foundational infrastructure. This will be detrimental to users seeking decentralized and censorship-resistant solutions.
The analyst noted,
“A sad end for such a beautiful chain that once promised to change the world. Today ETH could not be further away from that original cypherpunk dream, as L1 capacity is so limited.”
Venture Capital Interests in L2s Create Centralization Concerns
Bons further claims that venture capitalists have influenced Ethereum’s development by capitalizing on L2 transaction fees, leading to a more centralized structure. Unlike Layer 1, which is community-governed, L2 platforms are often for-profit entities where fees benefit investors and VCs, sparking concerns over censorship and fund freezes.
According to Bons, this structure restricts Ether’s potential to scale autonomously, as L2 projects dominate with centralized controls over transactions.
These dynamics, Bons suggests, have caused many users to move toward alternative platforms that prioritize decentralized principles. Citing Solana as an example, he highlights how it has gained popularity due to its centralized resistance and competitive network features, which attract users.
In addition, market analysts have pointed to several reasons why ETH Price has remained below the $3,000 mark throughout 2024. Among the key reasons for the stagnation was competition from Layer 1 blockchains like Solana. The emergence of L2 networks has siphoned liquidity from Ethereum, impacting its overall adoption and market position.
However, while some voices like Bons question Ether’s future, other analysts counter the idea that the network is “dead.” According to 10X Research, Ethereum shows signs of resilience, with technical indicators suggesting a price bottom may be forming. Notably, Ether’s daily trading volume, nearly $12.2 billion, is second only to Bitcoin.
Analysts also observe that Ethereum continues to register higher highs and lows on technical charts, hinting at potential recovery. At the time of writing, ETH price is $2,515, a slight 1% surge in the last 24 hours.
The post Market Expert Says Ethereum Is “Cooked,” Here’s Why appeared first on CoinGape.
28 Oct 2024, 2:03 pmRipple vs SEC lawsuit: Ripple Labs executives Brad Garlinghouse and Chris Larsen have hired key attorneys to dismiss claims again in the XRP lawsuit. Meanwhile, the U.S. Securities and Exchange Commission has requested the second circuit court to set January 15, 2025 as the deadline for its principal brief regarding the appeals.
Ripple Executives Seek to Dismiss Charges in SEC Lawsuit
Ripple executives Brad Garlinghouse and Chris Larsen are likely seeking to dismiss the charges against them first, hiring the same lawyers. However, Cleary Gottlieb partner Matthew Solomon and XRP holders lawyer John Deaton has filed as non-admitted attorney. It means their appearance in the appeals will be limited.
According to a court filing, law firm Paul, Weiss, Rifkind, Wharton & Garrison no longer represents Chris Larsen. This happened on the same day the appeals court sent notice to Chris Larsen for failing to submit notice of appearance.
Now, the legal team that represented Garlinghouse earlier will also represent Chris Larsen. This include Cleary Gottlieb’s attorneys Nowell Bamberger, Rahul Mukhi, and Samuel Levander, as per the latest filing.
They were also in the team for successfully obtaining the dismissal of all claims for Garlinghouse in Ripple vs SEC lawsuit.
What They Have Appealed in XRP Lawsuit
The US SEC included securities law violation charges against Ripple CEO Brad Garlinghouse and Executive Chairman Chris Larsen in the appeals filing recently. The agency has filed appealed XRP sales by Ripple, Garlinghouse and Larsen, as well as XRP distribution to employees and others by the company.
Meanwhile, Ripple is questioning whether an “investment contract” must have a contract, post-sales obligations of seller, and profit dependent on seller’s activities. It also counter-appeals if district court’s rulings are erred and how years old Howey test applies to crypto. The company also revived the fair notice defense in appeals filing.
Ripple and its executives Brad Garlinghouse and Chris Larsen ensuring to have binding precedents from the Court of Appeals for the 2nd Circuit. However, former SEC lawyer Marc Fagel asserts that the SEC dropped charges of aiding & abetting Ripple’s unregistered institutional sales only and other claims against executives were not dropped.
XRP price jumped nearly 1% in the past 24 hours, with the price currently trading at $0.518. The 24-hour low and high are $0.511 and $0.520, respectively. Furthermore, the trading volume has increased by 60% in the last 24 hours, indicating a rise in interest among traders.
The post Ripple Vs SEC Lawsuit: Brad Garlinghouse, Chris Larsen Hire Key Lawyers appeared first on CoinGape.
28 Oct 2024, 1:54 pmCrypto payment provider Alchemy Pay has announced its upcoming layer-1 blockchain, Alchemy Chain, a move aimed at streamlining fiat and cryptocurrency integration. Built on a Solana Virtual Machine (SVM) architecture, the new blockchain is expected to support Alchemy Pay’s payment ecosystem by offering scalable infrastructure for high transaction volumes.
This development has boosted interest in Alchemy Pay’s native token, ACH, which will serve as the utility token for covering gas fees on the network.
Alchemy Chain Role In Fiat & Crypto Payment
Alchemy Chain is designed to create a frictionless experience between fiat and cryptocurrency payments, aligning with Alchemy Pay’s goal of bridging traditional and digital finance.
The new blockchain will use a Trusted Proof-of-Authority (TPoA) mechanism to enhance security and transaction speed. With support for both ACH and fiat payments for gas fees, users will have more flexibility in managing transaction costs.
“Users can conveniently cover gas fees and transactions using either $ACH or fiat, with seamless conversion of profits and other on-chain earnings into fiat currency,” the company stated.
This dual-payment structure is a unique feature that could appeal to a broader user base, especially businesses that operate in both fiat and crypto.
Developer Tools and Support for Memecoin Projects
In addition to Alchemy Chain’s core functionalities, Alchemy Pay plans to launch tools to support developers and memecoin projects. These tools include a “Meme Launchpad,” which will allow creators to launch meme-based tokens with ease, and a “Meme Telegram Bot” that provides a user-friendly interface for interacting within the Alchemy ecosystem.
The company’s support for the memecoin sector is a strategic move to attract developers and tap into the growing demand for community-driven tokens.
The introduction of these developer tools reflects Alchemy Pay’s commitment to building a comprehensive ecosystem that caters to diverse projects. By simplifying entry for meme projects, Alchemy Chain aims to capture more engagement and innovation within its network.
Post the announcement, there has been a surge in trading activity in ACH derivatives. ACH derivatives volume saw a 482.83% increase, reaching $60.61 million, which indicates heightened interest in ACH futures and options. This spike in volume shows robust participation from traders who are speculating on ACH’s price movements.
Furthermore, open interest for ACH derivatives, which reflects the total number of outstanding contracts that haven’t been settled, rose by +44.52%, reaching $10.70 million.
Alchemy Pay Price Surges Over 7%
Following the Alchemy Chain announcement, the price of Alchemy Pay’s ACH token has gained momentum. According to crypto analyst CryptoBull_360, $ACH recently experienced a 13% surge after retesting a critical horizontal support level around $0.0085.
“This level has repeatedly acted as a strong base for $ACH, indicating substantial buying interest whenever prices dip to or near this threshold,” noted CryptoBull_360.
After bouncing from the support level, ACH has rallied to approximately $0.0097, with increased trading volume signaling strong market interest. Should the bullish momentum persist, key resistance levels are anticipated at $0.01 and $0.0115, which could open the path for further gains. CryptoBull_360 commented, “If the current buying trend continues, the price could approach the $0.0120 mark or higher, depending on market dynamics and subsequent volume support.”
Source: X
This analysis aligns with crypto analyst Javon Marks who noted, “$ACH has recently broken out of its Falling Wedge pattern, signaling a potential bullish momentum ahead.” If this upward trend continues, some analysts predict that ACH could rally by up to 450%, with a possible price target near $0.11087.
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28 Oct 2024, 1:30 pmThe crypto market witnessed heightened volatility ahead of the U.S. election in 2024. While most major altcoins are following a stalled recovery momentum following the Bitcoin struggle to break $70,000, the Politifi token shows potential for significant growth. Amid the rising interest of crypto whales in the election outcome, the MAGA price experienced a high momentum rally with an eye on the $10 target.
By the press time, the TRUMP price trades at $4.37, with an intraday gain of 18.24%. Meanwhile, MAGA’s market cap surged to $197.5 Million, and the 24-hour trading volume to $11.51 Million.
Will MAGA Price $10 as Crypto Whales Bet Big on Trump’s 2024 Win?
The cryptocurrency market is witnessing a surge in volatility as we enter the final stretch for the US elections. While most major altcoins are experiencing this uncertainty, the Poltifi coins are gaining momentum.
Amid Trump’s Madison Square Garden rally and increasing bet on Polymarket, the Maga (Trump) memecoin shows the potential for a higher rally.
According to Lookonchain data, a notable crypto whale has been heavily investing in bets on Donald Trump winning the 2024 US presidential election. The onchain data shows this whale recently spent another $1 million in USDC, bringing the total investment to $5 million in the past four days.
These funds were utilized to purchase ‘Yes’ shares on Trump’s potential victory, reflecting the whale’s confidence regarding the election outcome.
Whales continue to bet on #Trump winning the US election.
The whale spent another 1M $USDC to bet on #Trump winning the US election.
He has spent 5M $USDC to buy 7.54M ‘Yes’ shares on #DonaldTrump winning the US election in the past 4 days!https://t.co/FJrsD2rmff pic.twitter.com/hDQ9XIntkx
— Lookonchain (@lookonchain) October 28, 2024
TRUMP Price Analysis: Cup And Handle Pattern Signals Immnient Breakout
In the last three days, the MAGA price has sharply recovered from $3.19 to $4.39 level, registering a growth of 37.4%. An analysis of the daily chart shows this upswing assists in forming a well-known reversal pattern called Cup and Handle.
Theoretically, this pattern indicates the asset’s emergence after a prolonged accumulation phase and positions it for a substantial recovery. With sustained buying, the TRUMP price could rise 27% before challenging the neckline resistance at $5.55.
A successful flip of the overhead resistance into potential support will bolster the asset for prolonged recovery. The post-breakout rally could push this meme cryptocurrency 70% up to hit the $9.6-$10 target.
On the other hand, if sellers continue to defend the $5.55 resistance, the MAGA price could witness another reversal to continue the consolidation trend.
The post Will MAGA Price Hit $10 as Crypto Whales Pour Millions on Trump 2024 Win? appeared first on CoinGape.
28 Oct 2024, 1:27 pmThe cryptocurrency market is regaining traction as Bitcoin surges past the crucial $69K level, with investors anticipating a potential $70K breakthrough.
As Bitcoin rallies, certain altcoins are positioned for significant upward movement, potentially offering robust returns in the coming days. Market analysts identify these four crypto to buy, signaling promising opportunities for traders seeking alternatives to BTC during its bullish trend.
4 Crypto to Buy Poised for Major Gains As BTC Aims $70k
The cryptocurrency market is stirring with excitement as Bitcoin’s price climbs to $69,132, marking a 2% surge. These four best cryptos to buy are well-positioned for gains as momentum builds across the digital asset space.
Dogecoin (DOGE)
Dogecoin (DOGE), the popular meme-based cryptocurrency, has recently experienced a notable surge. At the time of writing, the DOGE price has climbed to $0.15, with a 6% increase in the last 24 hours. This jump adds to its impressive 114% rise over the past year, sparking renewed market interest.
Recent santiment data reveals heightened whale transaction activity, especially significant in early April, which later tapered off through July. However, whale transactions picked up in mid-September, propelling DOGE’s price movement upward. This renewed activity suggests growing bullish sentiment and could further fuel the rise of meme coins like Dogecoin, highlighting a robust comeback in cryptocurrency.
Solana (SOL)
Solana (SOL), a prominent Layer 1 blockchain, is gaining traction due to its rapid transaction speeds and resilient infrastructure. The SOL price is $172 and has maintained stability, with a 6% rise over the past week.
Over the last year, SOL’s price surged 451%, highlighting its potential as a promising crypto to buy. Increased developer interest and a dynamic ecosystem continue to fuel Solana’s growth, supported by a wave of ecosystem projects and meme coins. If the bullish momentum mounts more pressure, the SOL price could surge to $200 words.
TRON (TRX)
TRON (TRX) has emerged as a prominent contender in the decentralized digital space, rising by an impressive 75% over the past year. Trading at $0.1638, The value of TRX experienced a slight 1% dip recently but has seen gains over the week. This positive movement is largely due to increased meme coin trading on its network.
Additionally, TRON’s Total Value Locked (TVL) now reaches $6.761 billion, marking its significant role in the DeFi landscape. TRON’s growth makes it an increasingly appealing choice for those exploring the best crypto to buy.
Toncoin (TON)
Toncoin (TON), a cryptocurrency developed by Telegram, is making waves in the blockchain industry with its advanced layer-1 technology. Currently priced at $4.95, Toncoin has surged 140% over the past year, catching the attention of investors as Bitcoin moves closer to the $70K mark.
Whale activity in Toncoin is increasing, with large holders now accumulating over $5 million in stablecoins. This whale accumulation has driven recent price hikes, reinforcing Toncoin’s emerging market impact and solidifying its reputation as a crypto to buy.
With Bitcoin nearing record highs, the crypto market is buzzing with optimism. Traders looking beyond BTC consider these altcoins, each offering unique potential amid Bitcoin’s upward trend.
The post 4 Crypto to Buy as BTC Eyes $70K Again appeared first on CoinGape.
28 Oct 2024, 12:22 pmAmerican crypto trading platform Coinbase Global Inc is not backing down in calling out the US Securities and Exchange Commission (SEC) over its regulation by enforcement strategies. In its latest move in this regard, the firm has filed an Amicus Brief on behalf of DeFi Education Fund and Beba.
The Coinbase Amicus Brief – The Keypoints
As spotlighted by Coinbase CLO Paul Grewal, the US SEC is waging war against legitimate American companies. The legal veteran claims the markets regulator cannot make up its mind about the claim of the law.
With this Amicus Brief, the exchange is directly countering the claims of the regulator that either Beba or DeFi Education Fund violated Federal Securities laws. The SEC and exchange’s lawsuit is still in Court, underscoring its commitment to back other Web3 firms fighting similar regulatory strain.
Today @coinbase filed an amicus brief on behalf of @BebaCollection and @fund_defi to stop the destructive regulation-by-enforcement campaign waged by @SECGov against law-abiding American companies. Most destructive of all is that the SEC itself can’t even make up their mind… pic.twitter.com/qeFdCrdsKn
— paulgrewal.eth (@iampaulgrewal) October 28, 2024
In its Amicus Brief, Coinbase claimed the US SEC has different instances where it provided different answers to the same question. For instance, the exchange said the regulator said the digital asset is not a security in 2018. However, it changed its mind in 2021 when it said digital assets represents investment contracts.
The exchange supported Beba and DeFi Education Fund in that the regulator has thus far refused to provided the needed clarity.
Crypto Firms All Out Against US SEC
While the Beba and DeFi Education Fund tussle remains active, a number of crypto firms are expecting a likely suit from the regulator.
Earlier this year, OpenSea received a Wells Notice from the US SEC. The Gary Gensler-led watchdog claimed that the Non-Fungible Tokens (NFTs) it hosts on its platform are investment contracts. Rather than take the verdict, the firm has promised to fight the regulator in court if needed.
Robinhood and Uniswap were equally served a Wells Notice as part of the SEC’s regulatory campaign. Neither firm has hinted at any plans for potential settlement incase of a lawsuit. This means, if the enfofrcements do change, a situation like Coinbase versus SEC may emerge the more in the future.
The post Just In: Coinbase Files Amicus Brief To Back DeFi Education Fund Against US SEC appeared first on CoinGape.
28 Oct 2024, 12:07 pmLeave A Review
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