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altcoinbuzz.io 3 UNSTOPPABLE Crypto GEMS l 90% Discount Altcoins

The bull is back. That’s what you are hearing everywhere including here on our channel. Everything is up from 6 months ago. Right? WRONG. Many projects are up from bear market lows. Yet many GREAT projects are still 90% or MORE off of their all-time highs from the last bull market. We are looking at […] The post 3 UNSTOPPABLE Crypto GEMS l 90% Discount Altcoins appeared first on Altcoin Buzz.

altcoinbuzz.io 10 Lessons for the Next Crypto Bull Run – Part 2

There is a tangible sense of excitement among cryptocurrency enthusiasts as the market prepares for another predicted bull run. But it’s important to approach this bullish phase with caution and strategic thinking. Avoiding common mistakes can make a significant difference in maximizing gains and minimizing risks during a bull market. Here are some common crypto […] The post 10 Lessons for the Next Crypto Bull Run – Part 2 appeared first on Altcoin Buzz.

newsbtc.com Bitcoin Bulldozes Past $44,000 – Is $45K Next This Week?

Bitcoin (BTC) is having a moment again. The biggest cryptocurrency in the world is enjoying a 150% increase this year as its price surged beyond $44,000 on Wednesday, marking the first time it had done so in over 18 months. The increase is indicative of the cryptocurrency’s continuous upswing, which is being supported by a number of elements such as a drop in interest rates and growing expectations over the possible approval of a spot Bitcoin exchange-traded fund (ETF) in the US. Related Reading: PEPE Inks 46% Weekly Gain – Can It Leap To The $1 Jackpot? Spot ETFs: Democratizing Bitcoin Investment With Lower Risks Supporters of the industry say that this new way to invest in bitcoin at spot prices instead of futures prices could make it easier for everyone to get into the cryptoverse while lowering some of the well-known risks that come with it. It’s possible that regulators will approve the first bitcoin spot ETF application as soon as next month, even though some crypto fund managers have recently won cases that made the chances of this happening better. “I think what the ETF means really is that Bitcoin is going mainstream, and that’s what people were waiting for,” Ledger CEO Pascal Gauthier recently said. The fact that Bitcoin has recovered above the crucial price level highlights how resilient its upward momentum is, drawing interest from both seasoned investors and the larger cryptocurrency community. How High Can BTC Price Go? Given that news sources and financial analysts have taken notice of Bitcoin’s latest breakout above the psychologically critical $44,000 threshold, it is clear that the market is currently bullish biased. Bloomberg has made a bold prediction regarding the largest cryptocurrency in terms of market capitalization when it entered the fray. The news website claims that Bitcoin’s increase above $42,000 marks the start of a new “crypto supercycle” rather than just a passing peak. According to this bullish prediction, Bitcoin will soar to values above an astounding $500,000 and become the cornerstone of a revolutionary new monetary paradigm that is already gaining support on Wall Street. Bitcoin slightly below the $44K level today. Chart: TradingView.com This prediction, which is in line with the increasing feeling of cryptocurrency fans, signals a paradigm change in conventional financial markets as Bitcoin keeps redefining the global economic scene and establishing its domination. Bitcoin’s Clear Path: $48K-$53K Sweet Spot For Upside – Analyst Based on technical price levels, particularly highs set in March 2022 and September 2021, Joel Kruger, market strategist at LMAX Group, believes that Bitcoin’s upward price momentum has a clear route forward until the region between $48,000 and $53,000. Between these two levels, Kruger identified a sweet spot where the route to the March 2022 high is remarkably free of major opposition. He stated: “There is a nice zone between those two levels with very little in the way of any meaningful resistance between the current price and that March 2022 high.” BTC moves past $44K today. Source: Coingecko According to market data, as of this writing, the price of Bitcoin is $44,020, up 5.5% over the previous day, and sustaining a 16% increase in the last week, data from Coingecko shows. As the market dynamic unfolds, all eyes are on Bitcoin, wondering if it will continue its bullish run and set its sights on the next significant milestone at $45,000. Related Reading: Cardano Profitability On The Rise: 1.7 Million Addresses Hit 2-Year High (This site’s content should not be construed as investment advice. Investing involves risk. When you invest, your capital is subject to risk). Featured image from Shutterstock

bitcoinist.com SEC Demands Spot Bitcoin ETF ‘Kill Switch’: What Experts Have Uncovered

The US Securities and Exchange Commission (SEC) is currently actively working with applicants of spot Bitcoin Exchange-Traded Funds (ETFs), guiding them through what appears to be the final stages of amendments before potential approval. This active engagement is evidenced by the frequent updates to the S-1 filings made public. In a recent development, BlackRock submitted […]

newsbtc.com ADA Price Claims $0.40 And Recovery Could Soon Turn Into Rally

Cardano (ADA) is gaining pace above the $0.40 resistance. ADA could rally if there is a clear move above the $0.432 and $0.450 resistance levels. ADA price is moving higher above the $0.400 pivot level. The price is trading above $0.415 and the 100 simple moving average (4 hours). There is a key bullish trend line forming with support near $0.410 on the 4-hour chart of the ADA/USD pair (data source from Kraken). The pair could accelerate higher toward the $0.500 level or even $0.550. Cardano Price Starts Steady Increase After forming a base above the $0.3750 level, Cardano started a steady increase. There was a break above the $0.388 and $0.400 resistance levels, but ADA lagged momentum like Bitcoin and Ethereum. The price even climbed above the $0.420 resistance. A high was formed near $0.4293 and the price is now consolidating gains. It is trading above the 23.3% Fib retracement level of the upward move from the $0.3715 swing low to the $0.4293 high. ADA is now trading above $0.415 and the 100 simple moving average (4 hours). There is also a key bullish trend line forming with support near $0.410 on the 4-hour chart of the ADA/USD pair. Source: ADAUSD on TradingView.com On the upside, immediate resistance is near the $0.4250 zone. The first resistance is near $0.432. The next key resistance might be $0.450. If there is a close above the $0.450 resistance, the price could start a strong rally. In the stated case, the price could rise toward the $0.50 region. Any more gains might call for a move toward $0.550. Are Dips Supported in ADA? If Cardano’s price fails to climb above the $0.432 resistance level, it could start a downside correction. Immediate support on the downside is near the $0.4150 level. The next major support is near the $0.410 level and the trend line. A downside break below the $0.410 level could open the doors for a test of $0.388. The next major support is near the $0.372 level. Technical Indicators 4 hours MACD – The MACD for ADA/USD is gaining momentum in the bullish zone. 4 hours RSI (Relative Strength Index) – The RSI for ADA/USD is now above the 50 level. Major Support Levels – $0.415, $0.410, and $0.388. Major Resistance Levels – $0.432, $0.450, and $0.500.

bitcoinist.com The Bitcoin Boom: 50 Million Addresses Signal 20% Rise In Adoption

On December 4th, Bitcoin (BTC) witnessed an unexpected surge in its age-consumed metric, indicating a significant increase in previously inactive coins entering circulation. This remarkable development, marked by a 400% surge in a 24-hour period, could potentially signal upcoming price volatility in the Bitcoin market. The age-consumed metric in cryptocurrency serves as a key indicator […]

newsbtc.com Ethereum Price Prediction- After 10% Surge, Is ETH Rally Just Getting Started?

Ethereum price extended its rally above the $2,250 resistance. ETH is up over 10% and might continue to rise toward the $2,500 resistance. Ethereum is showing positive signs and recently surpassed the $2,300 resistance. The price is trading above $2,250 and the 100-hourly Simple Moving Average. There is a major bullish trend line forming with support near $2,250 on the hourly chart of ETH/USD (data feed via Kraken). The pair could extend its rally if it clears the $2,320 resistance zone. Ethereum Price Extends Rally Ethereum price remained in a positive zone above $2,120, like Bitcoin. ETH extended its rally above the $2,200 and $2,250 resistance levels. The bulls remained action and the price spiked above $2,300. A new multi-month high was formed near $2,316 and the price is now correcting gains. There was a move below the $2,300 level. The price is now testing the 23.6% Fib retracement level of the upward move from the $2,188 swing low to the $2,316 high. Ethereum is now trading above $2,250 and the 100-hourly Simple Moving Average. Besides, there is a major bullish trend line forming with support near $2,250 on the hourly chart of ETH/USD. Source: ETHUSD on TradingView.com On the upside, the price is facing resistance near the $2,320 zone. The next key resistance is near the $2,350 level. A clear move above the $2,350 zone could send the price toward the $2,420 level. The next resistance sits at $2,450. Any more gains could start a wave toward the $2,500 level. Are Dips Supported in ETH? If Ethereum fails to clear the $2,320 resistance, it could start a downside correction. Initial support on the downside is near the $2,265 level. The next key support is $2,250 and the trend line. It is near the 50% Fib retracement level of the upward move from the $2,188 swing low to the $2,316 high. The main support is now near $2,200 or the 100-hourly Simple Moving Average. A downside break below $2,200 might start an extended decline. The key support is now at $2,120, below which there is a risk of a move toward the $2,080 level in the near term. Technical Indicators Hourly MACD – The MACD for ETH/USD is gaining momentum in the bullish zone. Hourly RSI – The RSI for ETH/USD is now above the 50 level. Major Support Level – $2,200 Major Resistance Level – $2,320

bitcoinist.com 0.04% Of Bitcoin Holders Control 62% Of All Circulating Supply: A Wake-Up Call?

Citing data from BitInfoCharts, @GRomePow took to X on December 4 to reveal that a mere 0.04% of Bitcoin (BTC) addresses control 62% of the circulating supply, which stands at over 19.5 million according to CoinMarketCap at press time.  0.04% Of Bitcoin Holders Control 62% Of Circulating Supply This stark concentration of wealth has reignited the debate […]

newsbtc.com PEPE Inks 46% Weekly Gain – Can It Leap To The $1 Jackpot?

Struggling to make significant upward strides, the PEPE price might touch $0.0000020 in the next few weeks, grappling with the challenge of surpassing this particular threshold. Predicting the long-term trajectory remains elusive; achieving the $1 mark for PEPE requires an extraordinary surge from its present level, a feat that would position PEPE among the most lucrative meme coins in history. Meme tokens, lacking robust fundamentals and utility, consistently face the looming threat of being overshadowed by newer, trendier counterparts. Hence, while a modest increase to $0.0000020 in the near future appears plausible, surging beyond this may prove to be a formidable hurdle for the PEPE price. Related Reading: Cardano Profitability On The Rise: 1.7 Million Addresses Hit 2-Year High Mastering Timing In Meme Token Investments Investors are cautioned to tread carefully, as meme tokens like PEPE are prone to significant acquisitions by large investors, followed by subsequent dumping. Despite PEPE’s overall growth potential, substantial downturns are anticipated to be a recurring pattern. Recognizing the pivotal role that timing plays in the realm of cryptocurrency investments, it becomes evident that the significance of choosing the opportune moment cannot be emphasized enough. PEPEUSD currently trading at  $0.000002 territory on the daily chart: TradingView.com The dynamic and often unpredictable nature of the crypto markets amplifies the impact of timing on investment outcomes, presenting a delicate balance between seizing potential opportunities and navigating potential risks. Meanwhile, data from Santiment sheds light on a significant milestone in the world of cryptocurrency. Specifically, the number of distinct addresses engaged in PEPE transfers has surged to an unprecedented all-time high, maintaining this elevated status for an impressive 25 consecutive days. This surge in unique addresses participating in PEPE transfers not only underscores a heightened level of activity but also suggests a sustained and robust interest in the PEPE cryptocurrency ecosystem. Source: Santiment PEPE’s Strong Chart Signals Anticipate Bullish Surge On another positive note, PEPE’s chart currently exudes strength, with indicators hinting at imminent gains. The convergence of PEPE’s 30-day moving average and its 200-day average is on the horizon, potentially signaling a ‘golden cross,’ a phenomenon often associated with breakouts. Simultaneously, the Relative Strength Index (RSI) for PEPE hovers near 70, indicating sustained buying pressure that is likely to propel the altcoin’s value upward in the coming days. Related Reading: ORDI Rockets To Unprecedented Peaks Alongside Bitcoin’s $42,000 Breakthrough Supporting this optimistic perspective is the consistent elevation in trading volume, a clear indication that significant market players are actively accumulating PEPE. This heightened trading activity suggests a palpable anticipation among major investors, as they position themselves strategically to capitalize on anticipated future price surges. Despite a recent indication of sluggishness, PEPE remains resilient, boasting a 46% increase over the past week and a solid 20% rise over the last four weeks. PEPE price action in the last 24-hours. Source: Coingecko People were shocked when PEPE reached a market cap of $1 billion only one month after it came out. During this time, the meme coin rose to its all-time high of $0.000004354. Because of this, it became famous and was added to well-known cryptocurrency exchanges like Binance. Today, with a market cap surpassing $670 million, PEPE continues to attract attention, and its 24-hour trading volume, nearing $400 million, indicates the potential for further rallies in the days to come. As PEPE demonstrates notable gains, the prospect of reaching the $1 jackpot adds an element of anticipation. (This site’s content should not be construed as investment advice. Investing involves risk. When you invest, your capital is subject to risk). Featured image from Shutterstock

bitcoinist.com Binance’s $4.3B Settlement Marks Crucial Shift in Regulatory Crackdown, Says US Official

According to a recent Reuters report, a senior US regulator has suggested that the $4.3 billion settlement reached with Binance last month may represent a turning point in enforcement actions against cryptocurrency firms.  The settlement, which was a result of Binance’s violation of US anti-money laundering and sanctions laws, could potentially serve as a governance […]

newsbtc.com Bitcoin Price Surges Over 15% In Few Days, $45K Seems Imminent

Bitcoin price extended its rally above the $43,200 resistance. BTC is now consolidating gains and might rally further toward the $45,000 zone. Bitcoin surged further above the $42,200 and $43,200 levels. The price is trading above $43,200 and the 100 hourly Simple moving average. There are two bullish trend lines forming with support near $43,200 and $41,800 on the hourly chart of the BTC/USD pair (data feed from Kraken). The pair could correct lower toward $43,200 before it starts a fresh increase. Bitcoin Price Extends Rally Bitcoin price remained in a steady uptrend above the $40,000 resistance zone. BTC gained over 15% in the past few days and even surged above the $42,000 zone. The upward move gained pace above the $43,200 resistance zone.  A new multi-month high is formed near $44,465 and the price is now correcting gains. There was a move below the $44,000 level. The price is still above the 23.6% Fib retracement level of the upward move from the $39,476 swing low to the $44,465 high. Bitcoin also trades above $43,200 and the 100 hourly Simple moving average. Besides, there are two bullish trend lines forming with support near $43,200 and $41,800 on the hourly chart of the BTC/USD pair. The second trend line is close to the 50% Fib retracement level of the upward move from the $39,476 swing low to the $44,465 high. On the upside, immediate resistance is near the $44,200 level. The first major resistance is forming near $44,450, above which the price might rise toward the $45,000 level. Source: BTCUSD on TradingView.com A close above the $45,000 resistance might send the price further higher. The next key resistance could be near $46,400, above which BTC could rise toward the $48,000 level. Are Dips Supported In BTC? If Bitcoin fails to rise above the $44,500 resistance zone, it could start a downside correction. Immediate support on the downside is near the $43,250 level. The next major support is near $42,800, below which the price might test the second trend line. If there is a move below $42,000, there is a risk of more downsides. In the stated case, the price could drop toward the $40,500 support in the near term. Technical indicators: Hourly MACD – The MACD is now gaining pace in the bullish zone. Hourly RSI (Relative Strength Index) – The RSI for BTC/USD is now above the 50 level. Major Support Levels – $43,200, followed by $42,000. Major Resistance Levels – $44,200, $44,450, and $45,000.

bitcoinist.com Solid Exchange Data Shows That Big U.S. Institutions Are Driving This Bitcoin Rally

Bitcoin (BTC) rallied over 10% in the past week, extending gains and reaching levels not seen since the Terra collapse in May 2022. This surge is attributed to increased institutional activity, particularly in the United States. Average Bitcoin Trade Size Rising In U.S. Exchanges According to Kaiko data on December 5, the average trade size on United […]

bitcoinist.com Bitcoin In Danger: European Commission’s Methodology Threatens EU Mining Ban

The European Commission (EC) is facing criticism from the crypto community over its proposed methodology to calculate and mitigate the “environmental” impact of Bitcoin.  Daniel Batten, co-founder of CH4 Capital, has expressed concerns that the EC’s approach could lead to an EU mining ban and have far-reaching consequences for the global Bitcoin community. Batten argues that […]

newsbtc.com NFT Scams: Types And How To Avoid Them

NFT scams have quickly become a major concern in the digital asset realm, overshadowing the growing Non-Fungible Token world. They range from NFT scams on Instagram to complex NFT art frauds like the Bored Ape Yacht Club and Logan Paul’s NFT game. The risks are varied and significant. This guide explores the murky world of NFT fraud, highlighting various forms such as fake NFTs, NFT Ponzi schemes, and common OpenSea scams. Overview Of NFT Scams The Non-Fungible Tokens (NFTs) realm has opened a new digital frontier, bringing with it a surge in NFT scams, troubling both investors and enthusiasts. These scams, leveraging the novelty and complexity of NFTs, often catch even experienced participants off guard. NFT scams vary widely and continue to evolve, from simple phishing attempts to more complex Ponzi schemes. These fraudulent activities occur not only on lesser-known platforms but also on popular ones like OpenSea and in high-profile projects like the Bored Ape Yacht Club. The growth of social media further complicates matters, with platforms like Instagram becoming centers for NFT fraud. Understanding the range and mechanics of these scams is essential for anyone involved in the NFT space. The risks are numerous, from fake NFTs posing as legitimate digital art to Ponzi schemes presented as attractive investments, and phishing scams targeting valuable digital assets. True Or Not: NFTs Are A Scam? The question of whether NFTs are a scam is complex and requires a nuanced understanding of the NFT ecosystem. At the outset, it’s important to clarify that not all NFTs are scams. NFTs, by their very nature, are a legitimate technological innovation, providing a unique way to authenticate and trade digital assets on the blockchain. They have been utilized in various fields, from digital art and entertainment to real estate and identity verification. However, the burgeoning interest in NFTs has also attracted scammers looking to exploit the hype and the often limited understanding of the technology among the general public. This has led to a significant number of fraudulent schemes within the NFT space. Scams such as selling plagiarized digital art, creating fake NFT marketplaces, or promoting non-existent NFT projects are not uncommon. High-profile cases, like certain celebrity-endorsed NFT projects, have also raised suspicions and added to the skepticism. The key takeaway is that while NFTs as a concept are not a scam, the ecosystem has been marred by fraudulent activities that prey on the uninformed. The presence of scams does not invalidate the entire NFT space but serves as a cautionary tale about the need for due diligence and skepticism, especially in a field that is relatively new and rapidly evolving. As the NFT market continues to mature, it is hoped that better regulation and informed participation will reduce the prevalence of these scams. Types of NFT Scams The world of NFTs, while offering vast opportunities for creators and collectors, is also rife with various types of scams. Here’s a list of the most common NFT scams: Plagiarized NFTs / Fake NFTs One of the most common types of NFT scams involves the sale of plagiarized or fake NFTs. In these scams, fraudsters create and sell NFTs that are unauthorized copies of existing digital artworks. They may also create entirely fake NFTs, passing them off as valuable or rare digital assets. These scams exploit the NFT hype, especially in digital art, by taking advantage of buyers’ lack of knowledge in verifying NFT authenticity and originality. The decentralized, permissionless nature of blockchain, allowing anyone to mint NFTs, presents challenges in identifying these scams. It’s tough for buyers to distinguish between original and plagiarized NFTs without proper verification, leading to fraud and infringement on legitimate artists’ rights and profits. To avoid such scams, thoroughly research the creator’s background and the NFT’s provenance. While platforms and marketplaces are increasingly vetting creators and artworks, buyers must still perform due diligence before purchasing. NFT Ponzi Schemes NFT Ponzi schemes are another alarming trend in the realm of digital assets. In these schemes, early investors are promised high returns based on the investments of new participants, rather than legitimate business activities or profit. The structure inevitably collapses once there are not enough new investors, leading to significant losses for later investors. These schemes exploit the hype and speculative nature of the NFT market, often using aggressive marketing and false promises of guaranteed returns. They might be disguised as innovative NFT projects or exclusive investment opportunities in the digital art world. To protect yourself from NFT Ponzi schemes, be wary of projects that promise high returns with little to no risk, and always research the project’s fundamentals and the credibility of its creators. Rug Pull Scams Rug pull scams are particularly nefarious in the NFT space. In these scams, the developers of an NFT project hype up their offering to increase demand and price. However, once they accumulate a substantial amount of funds, they abandon the project and disappear with the investors’ money. This leaves investors with worthless NFTs and no way to recoup their investment. These scams are often associated with new projects that lack a track record or verifiable information about the team behind them. To avoid rug pulls, it’s essential to conduct thorough research on the NFT project, understand its utility, and verify the transparency and track record of the developers involved. Engaging with the community and looking for independent reviews can also provide valuable insights into the legitimacy of a project. Bidding NFT Scams Bidding NFT scams are a sophisticated form of fraud that occurs in the auction process of buying and selling NFTs. In these scams, fraudsters manipulate the bidding process to inflate the price of an NFT artificially. This is often done by using fake accounts to place high bids on the NFT, creating a false sense of demand and value. Unsuspecting buyers, believing the NFT to be more valuable than it actually is, are then tricked into placing even higher bids. Once the NFT is sold at the inflated price, the scammers withdraw, leaving the buyer with an asset worth significantly less than what they paid. To avoid falling victim to bidding scams, it’s crucial to research the bidding history of an NFT and be cautious of auctions where the price seems to escalate unusually quickly. It’s also advisable to verify the credibility of other bidders, if possible, and to understand the typical market value of similar NFTs. NFT Pump And Dumps NFT pump and dumps are similar in nature to their counterparts in the stock market. In these scams, a group of individuals or a single entity artificially inflates the value of an NFT or a series of NFTs through hype and misinformation. Scammers typically use social media to quickly spread rumors or exaggerated claims about an NFT’s potential value. After they pump up the price and attract other investors, they sell (or dump) their NFTs at a high price. This causes the value to plummet, leaving new investors with a devalued asset. To protect against pump and dump schemes, investors should be skeptical of NFTs that receive sudden and intense hype without tangible reasons or developments backing them. Independent research is crucial and should not rely solely on promotional materials or social media buzz to assess an NFT’s potential value. Phishing Scams Phishing scams are a prevalent issue in the NFT world, where scammers use deceptive methods to steal sensitive information, such as private keys or login credentials. These scams often occur through emails, social media messages, or fake websites that mimic legitimate NFT platforms. The scammers lure victims with the promise of exclusive NFT deals or access to rare digital assets, and once the victims enter their information on these fraudulent platforms, their digital wallets and the assets within them are compromised. To protect against phishing scams, always verify the authenticity of any communication or websites claiming to be from well-known NFT platforms. Be cautious of unsolicited offers and never share your private keys or sensitive account information. NFT Airdrop Or Giveaway Scams NFT airdrop or giveaway scams take advantage of users’ desire for free assets. Scammers promote fake airdrops or giveaways, claiming to distribute free NFTs or cryptocurrencies. To participate, users are often asked to perform certain tasks like sending a small amount of cryptocurrency, sharing private keys, or completing a form with personal information. Once the information is shared or the payment is made, the scammers disappear without delivering the promised NFTs. To avoid these scams, be wary of any offer that seems too good to be true, especially if it requires an upfront payment or sensitive information. Legitimate airdrops and giveaways usually do not require such actions. Website Scams Website scams in the NFT space typically involve the creation of fraudulent websites that imitate legitimate NFT marketplaces or projects. These websites might offer the sale of fake NFTs or pretend to offer services related to NFT trading. Unsuspecting users who transact on these sites may end up losing their funds or digital assets. These scams are sophisticated, with websites often appearing highly credible and professional. To avoid falling for website scams, always double-check the URL of the website you’re visiting and ensure it’s the official site. Look for signs of legitimacy, such as secure connections (https), reviews from trusted sources, and verified contact information. Be cautious of websites that appear from unsolicited emails or social media links, and consider using browser extensions that can help detect and block malicious websites. Most Common NFT Ponzi Schemes NFT Ponzi schemes are significant frauds in the digital asset space, disguising themselves as legitimate investment opportunities. They benefit early initiators at the expense of later participants, often promising high returns quickly, backed by convoluted or non-existent business models. A common NFT Ponzi scheme form involves platforms claiming to offer exclusive access to rare or high-value NFTs, asserting rapid value appreciation. Investors are urged to buy and recruit others, with the promise of earning from higher future sales. However, returns typically come from new participants’ investments. When new investors dwindle, the scheme collapses, leaving most at a loss. Another variant involves scammers creating NFT projects with elaborate backstories and promised future utility, attracting investors with high-quality artwork or supposed real-world asset tie-ins. The goal is to boost initial sales and trading volumes, after which the creators vanish, leaving investors with worthless tokens. To avoid NFT Ponzi schemes, thoroughly research any project or platform, especially those promising high returns. Seek transparent, realistic business models, and be cautious of projects reliant on recruiting new investors for profit. NFT Scams On Instagram Instagram’s large user base and visual focus have made it a breeding ground for NFT scams. Scammers exploit its popularity to commit various frauds, from fake NFT sales to phishing attacks. Instagram’s suitability for showcasing digital art allows scammers to use fake or hacked profiles to promote fraudulent NFT projects. A common NFT scam on Instagram features fraudsters posting digital art images, falsely advertising them as NFTs for sale. These posts often link to fake websites that prompt users to provide personal information or send cryptocurrency for nonexistent NFTs. Another method involves sending direct messages with offers to buy or invest in NFT projects, which are actually scams. Phishing attempts are rampant as well, directing users to fake websites that mimic popular NFT marketplaces or wallets. These sites steal login credentials, leading to loss of funds or NFTs from the victims’ actual wallets. Staying safe from NFT scams on Instagram requires a high degree of vigilance. Always verify the authenticity of any NFT sale or project promoted on the platform. Be skeptical of unsolicited offers received via direct messages and avoid clicking on suspicious links. Additionally, cross-reference NFT offerings with official websites or platforms, and never share personal or wallet information on unverified sites. NFT Art Scams And NFT Fraud The NFT art world, despite its creativity and innovation, is still vulnerable to an array of scams and fraudulent activities. Common among these are the sales of counterfeit digital artworks, theft of artist identities, and fraudulent investment schemes posing as legitimate NFT projects. OpenSea Scams OpenSea, a leading NFT marketplace, attracts various scams. Scammers often list counterfeit versions of popular NFTs for sale, deceiving buyers into purchasing fake or plagiarized art. Another prevalent scam is phishing, using links that mimic legitimate OpenSea websites to steal wallet information and funds. To counter these scams, OpenSea has taken measures like account verification and flagging suspicious activities. However, users need to stay alert. They should verify NFT authenticity, assess seller credibility, and use OpenSea’s official website to avoid these scams. Bored Ape Scam Scammers have also targeted the Bored Ape Yacht Club (BAYC) collection, known for its high-value and celebrity-endorsed NFTs. The high demand and significant media attention make it an attractive target. Scams related to Bored Ape Yacht Club (BAYC) typically involve selling fake Bored Ape NFTs, phishing to steal these valuable NFTs from owners, and using the BAYC brand in fraudulent investment schemes to deceive victims. Collectors and investors looking to avoid Bored Ape scams should be wary of deals that appear overly attractive, verify the authenticity of Bored Ape NFTs via official channels, and stay alert to phishing attempts targeting BAYC NFT holders. Logan Paul NFT Game Scam Logan Paul, a well-known internet personality, and his associates face a class action lawsuit over their NFT project, CryptoZoo. Announced in September 2021, this NFT-based game claimed to be an “autonomous ecosystem” for trading virtual exotic animals. The lawsuit alleges that Paul’s team executed a rug pull, promoting CryptoZoo to his followers who were largely unfamiliar with digital currencies. This led to a significant number of them buying these NFTs. Further claims state that the game was non-functional or nonexistent, and the defendants manipulated the market for Zoo Tokens. After selling all their NFTs, they allegedly transferred the funds to their controlled wallets. Further accusations include that the game did not work or never existed, and that the defendants manipulated the digital currency market for Zoo Tokens to their advantage. After completing the sale of all their NFTs, the defendants allegedly transferred the money to wallets controlled by themselves. Avoiding NFT Scams: Best Practices Here are some essential tips to help you stay safe in the world of NFTs: Do Your Research: Ensure you conduct thorough research on the project, its creators, and the selling platform before investing in any NFT. Look for reviews, community feedback, and the track record of the creators. Verify Authenticity And Provenance: Confirm the authenticity of the NFT you’re interested in to ensure it’s not a counterfeit. Check the item’s history and originality, which can be verified on the blockchain. Use Reputable Platforms: Stick to well-known and reputable NFT marketplaces that have measures in place to prevent scams. These platforms often have verification processes for sellers and their NFTs. Be Wary of Unsolicited Offers: Exercise caution with unsolicited offers that come through email, social media, or direct messages, particularly if they promise high returns or exclusive opportunities. Secure Your Digital Wallet: Use a secure and reputable digital wallet to store your NFTs. Protect your wallet’s private keys and make sure never to share them with anyone. Watch Out For Phishing Attempts: Be vigilant about phishing scams. Always check the URL of a website to ensure it’s legitimate and be cautious about clicking on links in emails or social media messages. Avoid Overhyped Projects: Approach NFT projects surrounded by excessive hype with skepticism, particularly those lacking substantial and verifiable information. Stay Informed About Scam Trends: Keep yourself updated on the latest scam trends in the NFT space. Knowledge about how scammers operate can be your best defense. FAQ: NFT Scams What Are Common NFT Scams? Common NFT scams are phishing attacks, fake NFT sales, Ponzi schemes, rug pulls, bidding scams, and airdrop or giveaway scams. These tactics exploit the NFT hype, targeting uninformed buyers and investors. What Is The Most Common NFT Scam? The most frequent NFT scam involves selling fake or plagiarized NFTs. Scammers create and sell unauthorized copies of digital art or entirely fabricated NFTs, misrepresenting them as valuable. What Are NFT Art Scams? NFT art scams include selling fake digital art, using stolen artist identities, or promoting fraudulent investment schemes. These scams target collectors and investors in the digital art space. What Are Fake NFTs? Fake NFTs, non-genuine digital assets, include plagiarized copies of legitimate NFTs or entirely fabricated items misrepresented as valuable or rare. Creators make them to deceive buyers into purchasing something with little to no actual value. How To Avoid NFT OpenSea Scams? To avoid OpenSea scams, always verify the authenticity of NFTs and sellers, use OpenSea’s official website, be cautious of phishing links, and ensure your digital wallet’s security. Research and due diligence are key in avoiding scams on OpenSea. What Are Examples Of NFT Fraud? Examples of NFT fraud include the Bored Ape Yacht Club scams, Logan Paul NFT game scam, Ponzi schemes disguised as NFT projects, and phishing attacks targeting NFT collectors and investors. Are All NFTs Scam? No, not all NFTs are scams. While there are fraudulent activities within the NFT space, many legitimate NFTs offer genuine value and opportunities for artists, collectors, and investors. Are NFTs Ponzi Scheme? Not all NFTs are Ponzi schemes, but the NFT market has seen its share of Ponzi schemes disguised as legitimate investment opportunities. It’s important to differentiate between genuine NFT projects and those structured like Ponzi schemes. What Are The Most Common NFT Scams On Instagram? On Instagram, the most common NFT scams involve fake NFT sales and phishing attacks posing as legitimate offers. Additionally, scams often use hacked accounts to promote fraudulent NFT projects. NFTs Are A Scam? NFTs themselves are not a scam. They are a legitimate form of digital asset. However, like any emerging market, the NFT space has attracted scammers exploiting the hype and lack of regulation. Is The Logan Paul NFT Game A Scam? The NFT game CryptoZoo, associated with Logan Paul, is currently facing a class action lawsuit alleging it to be a “rug pull” scam. The lawsuit claims the game was non-functional or nonexistent and accuses the developers of financial manipulation. The ongoing case, still awaiting a final judgment, actively raises serious concerns about the project’s legitimacy due to these allegations. How To Spot Bored Ape Yacht Club Scams? To spot Bored Ape Yacht Club scams, start by verifying the authenticity of the NFTs through official channels. Additionally, be wary of offers that seem too good to be true and watch out for phishing attempts. Featured images from Shutterstock

bitcoinist.com Ethereum’s Breakthrough Moment: Experts Predict Trillions In Inflow From Upcoming Spot ETFs

Prominent figures in crypto, such as Hayden Adams, founder of Uniswap, and Ryan Sean Adams of Bankless Ventures, have recently shared insights highlighting Ethereum’s “intrinsic” value and the impact a spot Exchange-traded fund (ETF) could have on the blockchain’s future. At the core of these insights, Hayden Adams spotlighted Uniswap as a key contributor to […]

newsbtc.com SEC Insider: Bitcoin ETF Approval Probability Surges Beyond 99% As BTC Hits Fresh Yearly High

In the countdown to the deadline for the long-awaited Bitcoin ETF applications by major asset managers worldwide, predictions regarding the rate of approval have significantly improved.  Inside sources from the US Securities and Exchange Commission (SEC) indicate that Bloomberg’s initial 90% chance prediction of approval has now surged beyond 99%.  This development has heightened the excitement surrounding this investment vehicle, which has the potential to bring substantial inflows of capital into the Bitcoin market and further amplify its year-to-date gains of over 153%. Market Sentiment Soars As Bitcoin ETF Approval Probability Surpasses 99% Andrew, an SEC insider, shared an update on X (formerly Twitter), stating that the 99% probability of a Spot Bitcoin ETF being approved is no longer deemed high enough.  While acknowledging that nothing is ever certain, the source emphasized that the current likelihood of approval surpasses the 99% estimate from the previous week. The sentiment in the market is clearly reflected in the price movement of Bitcoin, as it continues to establish new yearly highs and display unwavering bullish momentum.  Related Reading: Analyst Says Solana At Risk Of Pullback: Here Is The Target Currently trading at $42,900, Bitcoin recently reached a fresh annual peak of $43,400 on Tuesday. Over the past 24 hours, the largest cryptocurrency has surged by 4%, and it has witnessed a remarkable increase of over 14% in the past seven days. It is worth noting that the prospect of a Bitcoin ETF being approved has captured the attention of investors and industry participants alike. If approved, the ETF would provide a regulated and accessible investment vehicle for institutional and retail investors, potentially bringing significant liquidity to the cryptocurrency market.  The spike in approval forecasts to over 99% has further fueled optimism that this milestone decision is imminent. While nothing can be guaranteed, the growing confidence in Bitcoin ETF approval and the cryptocurrency’s impressive price performance underscores the potential for a significant positive impact on the market.  As the final deadline approaches, market participants eagerly await the SEC’s decision, anticipating a potential game-changer for the Bitcoin ecosystem and its ongoing growth. BTC Faces Crucial Range High Resistance Renowned crypto analyst Rekt Capital has shed light on Bitcoin’s recent price action, emphasizing the significance of key support and resistance levels within a specific price range.  In late November, Rekt Capital identified a range between $36,120 and $43,200, highlighting the importance of the lower boundary for a potential upward move. Related Reading: Shiba Inu Set To Establish A New Era For Shibarium Burns Bitcoin successfully tested and held the range’s lower boundary as support, resulting in a substantial rally in recent days. The primary objective now, according to Rekt, is to revisit the upper boundary, known as the black $43,900 range high resistance, as seen in the chart below. Rekt Capital underscores the importance of the black Range High resistance as a crucial reference point for Bitcoin’s price. During the parabolic phase of the 2021 Bull Market, Bitcoin managed to break above this level relatively easily.  On two occasions, the cryptocurrency surged beyond the black level, with the first instance followed by a retest of the level as a new support, leading to further upward momentum.  The second instance occurred later in the year when Bitcoin successfully retested the black level as short-term support before continuing its ascent. However, late in 2021, Bitcoin lost the black level as support (first red circle from the left) and experienced a fake breakout above it, subsequently entering a multi-week downtrend.  Rekt Capital highlights that Bitcoin’s historical performance suggests the cryptocurrency needs to successfully retest the black $43,900 level as support to pave the way for further upward movement. Featured image from Shutterstock, chart from TradingView.com

bitcoinist.com Crypto Industry In The US Sets Sights On Record Lobbying Expenditure In 2023

According to a Reuters report, the cryptocurrency industry has witnessed a surge in lobbying spending as companies strive to repair their reputations and advocate for favorable legislation.  Despite facing regulatory scrutiny and high-profile scandals and lawsuits from the US Securities and Exchange Commission (SEC), which has taken the lead in enforcing the industry, Reuters has […]

newsbtc.com Sleeping Bitcoin Giants Wake Up: Pattern Mirrors 2021 Bull Run

On-chain data shows the dormant Bitcoin whales have been becoming active again recently in a fashion that’s reminiscent of the 2021 bull run. Bitcoin Whales Dormant Since 10+ Years Ago Are Waking Up In a new CryptoQuant Quicktake post, analyst Maartunn has talked about a pattern forming in Bitcoin that looks similar to what happened back in 2021, during the last bull run The indicator of interest here is the amount of Bitcoin being moved on the blockchain that was dormant since at least ten years ago before the transaction took place. Ten years is naturally a very long stretch of time, so whenever wallets holding BTC this old activate again, it’s always something that ignites discussion in the community. Related Reading: Analyst Says Solana At Risk Of Pullback: Here Is The Target In many cases, coins reach such an old age only because they became lost at some point. A lot of this supply would never be involved in transactions again, because of the wallets carrying them being lost to the point that they can’t be rediscovered by any means possible. Some of the supply may simply be forgotten about, rather than lost, and might get found once more. When this happens, the finder (who may or may not be the original owner of the coins) could decide to shift the coins immediately, cashing in on them by selling, or perhaps, they may just decide to hold off a bit more, finding the appropriate price timing to offload the Bitcoin. The below chart notes the instances where coins dormant since 10 years ago showed some movement during the past few years. Looks like these old coins have moved again recently | Source: CryptoQuant From the graph, it’s visible that the Bitcoin bull run back during the first half of 2021 saw many instances where large amounts of such dormant BTC stacks broke their silence. Some of these whales who woke up could have been those who remembered their old BTC wallets after seeing the cryptocurrency making waves on the news, while others might have been those who had already rediscovered their old coins a while back, but had since been waiting for this profitable selling opportunity. The 10 years old coins had mostly remained dormant in the second half of the bull run and the 2022 bear market, making only a few large moves. Among these, two in particular were quite interesting, as they coincided with bottoms in the asset’s price. Maartunn has highlighted these instances in the chart. According to the analyst, it’s possible that these were whales who were panic selling after seeing the cryptocurrency decline to the lows. As is apparent from the chart, dormant whale activity has heated up once again recently. “Looking at the past few months, there have been more than 13 similar transactions. It’s striking that this is happening during the uptrend, as Bitcoin is rising due to news about the emerging ETF,” notes Maartunn. The latest of these transactions was just yesterday, when a 1,000 BTC stack more than 10 years old became involved in a move. In a post on X, the same analyst has explained that this whale is a retired miner, as many of the inputs that their wallet received came directly from the network’s block reward. Related Reading: Crypto Analyst Says It’s “Not Too Late” To Buy Ethereum, Here’s Why It would appear that the latest rally in the cryptocurrency is creating a similar effect as the 2021 bull run, attracting these dormant whales to finally move their coins. BTC Price At the time of writing, Bitcoin is trading around $42,400, up 13% in the past week. The price of the asset appears to have shot up during the last few days | Source: BTCUSD on TradingView Featured image from Todd Cravens on Unsplash.com, charts from TradingView.com, CryptoQuant.com

newsbtc.com 8 Green Candles: Here’s What Happened To Bitcoin The Last Time It Appeared

Bitcoin is on an impressive run and finally broke above $40,000 for the first time in over a year. This run has been in the making for a few months with the climax coming between the months of October and December. As a result, Bitcoin has now recorded 8 green candles on the weekly chart and historical performance suggests that this is bullish for the price. 8 Green Candles For BTC On The Weekly Chart In the last two months, the Bitcoin price has consistently closed in the green, a trend that seemed foreign only a few months ago. This green trend has continued through November which was expected to be a bearish month and with the start of December, Bitcoin saw another green weekly close. Related Reading: LUNC Stuns With 300% Gains, Can It Reach Its Previous ATH Market Cap? During this time that the BTC price has seen consistent green closes on the weekly chart, the price has gone from as low as $27,000 to as high as $42,000. This means that the price has risen approximately 50%, adding around $15,000 to its value in this two-month period. This comes amid a time of polarizing views between the bulls and the bears despite the bullish indicators continuously winning out. The gains of the last eight weeks have completely washed out a year of intense bearish headwinds and have seen the Bitcoin price completely recover all its losses from the FTX collapse, as well as its far-reaching contagion. BTC price readies for another leg up | Source: BTCUSD on Tradingview.com What Happens To Bitcoin The Last Time? With Bitcoin, historical performance can often be a good pointer to future performance, especially when important trends are being repeated. For example, the last time that the digital asset confirmed 8 green candles on the weekly chart, the price exploded not too long after. Related Reading: AVAX Uprising: Crypto Analyst Predicts Bullish Wave To Push Price To $30 This is seen back in 2017 right at the start of the bull market where the price went from around $1,100 to $2,900 before a slight pullback. However, once the pullback was over, the price would begin another uptrend that would send Bitcoin above $10,000 for the first time ever. If this trend were to repeat itself this time around, then a pullback from this level is likely, but not expected to last. The resulting pump from the pullback will likely be the confirmation of the bull market, leading to a new all-time high price. Bitcoin has also done incredibly well following 8 green candles on the daily charts. As reported by NewBTC, the Bitcoin price has also risen quickly when these green candles appear. As such, it is an all-around bullish signal for Bitcoin. Follow Best Owie on X (formerly Twitter) for market insights, updates, and the occasional funny tweet… Featured image from Eclectic Withcraft, chart from TradingView.com

themerkle.com $PEPE Witnesses Significant Surge After Binance Unveils New Promotion

Experiencing a notable increase of over 25% in a single day, the price of $PEPE surged following a major announcement from Binance, a renowned cryptocurrency exchange. In a strategic move, Binance introduced an enticing promotion for users participating in Binance Loans (Flexible Rates) and utilizing PEPE as collateral. This promotion allows users to acquire 10 million PEPE in locked products while leveraging PEPE as collateral on Binance Loans’ flexible rates. Start using $PEPE as collateral with #Binance Loans. For a limited time, get 10M $PEPE when borrowing any token against it. More here 👉 https://t.co/saPqsEIub1 pic.twitter.com/wpYVqsXV1s — Binance (@binance) December The post $PEPE Witnesses Significant Surge After Binance Unveils New Promotion appeared first on The Merkle News.

newsbtc.com Solana’s BONK Climbs To 3rd Place In Dog Coin Market Cap, Leaving FLOKI Behind

In recent weeks, the Solana (SOL) blockchain has been making waves in the crypto world, with its native token SOL experiencing a remarkable uptrend of 46% over the past 30 days. Alongside this surge, Bonk Inu (BONK), the first Solana-based meme coin, has gained significant traction, solidifying its position as the third-largest dog coin by market capitalization, surpassing Floki Inu (FLOKI). BONK Rockets To New Heights With 845% Surge In 30 Days The staggering growth of Bonk Inu is evident in its recent performance, achieving an impressive 845% gain over the past 30 days. The meme coin’s remarkable ascent has propelled it to new yearly highs, while SOL experienced a slight pullback from its peak of $65 on December 2. Despite the temporary setback for SOL, the bullish momentum and renewed interest in Bonk Inu have caught the attention of market participants.  As of now, BONK is trading at $0.0000069712, outperforming the broader crypto market with a remarkable 22.4% uptrend in the past 24 hours, aligning with the positive sentiment surrounding Bitcoin (BTC) and the overall market. With a market capitalization of approximately $430 million, Bonk Inu currently sits in third place among dog coins, trailing behind the likes of Shiba Inu (SHIB) and Dogecoin (DOGE), which boast market caps of $5 billion and $12 billion, respectively. Related Reading: Warning Signals Flash As Bitcoin Surges: Expert Spotlights Potential $25,000 Liquidity Sweep CoinGecko data reveals that BONK has witnessed a significant 24-hour trading volume of $65,235,205.16, indicating strong investor interest and active participation in the market. The future trajectory of Bonk Inu’s uptrend and its potential for further gains remains uncertain. However, should BONK continue to attract investors, it has the potential to dethrone Pepecoin (PEPE) in terms of market capitalization. As of the latest update, PEPE has achieved a market cap of $592 million. However, it is important to note that Bonk Inu still has a significant gap to bridge to catch up with the largest dog coins in the market in terms of market capitalization, namely SHIB and DOGE. SHIB and DOGE have demonstrated substantial gains and already possess staggering market capitalizations. Dog Coins Make Strong Push For Year-End Gains The altcoin SHIB, built on the Ethereum platform and known for its Shiba Inu mascot, continues to demonstrate consistent gains across various time frames.  Notably, SHIB has seen a 14% increase over the past fourteen days and an 18% surge over the past thirty days. These positive trends have allowed the dog coin to achieve a slight year-to-date profit of 0.2% after experiencing a significant downturn in 2022. Presently, SHIB is trading at $0.00000946, representing a decline of more than 89% from its all-time high (ATH) of $0.00008616, reached in October 2021. Related Reading: Shiba Inu Burn Rate Surges With Over 8 Billion SHIB Burned, Here’s The Trigger Meanwhile, the meme coin DOGE, which has the backing of Elon Musk, is currently trading at $0.09058. It has witnessed an 18% rise over the past fourteen days and nearly 30% growth over the past thirty days, following a sustained upward trend that began on November 21.  However, in contrast to SHIB’s price action, DOGE has experienced a 12% decline year-to-date and an 87% drop from its ATH of $0.731578 reached in May 2021. It remains to be seen whether the dog coins will continue to experience further gains throughout the remainder of the year or if a healthy pullback will occur to surpass upper resistance levels for another upward movement. Featured image from Shutterstock, chart from TradingView.com

kryptomoney.com Crypto.com Secures Electronic Money Institution License From UK’s FCA

Crypto.com, the Singapore-based cryptocurrency exchange, has secured authorization from the UK’s Financial Conduct Authority (FCA) to operate as an Electronic Money Institution (EMI). The exchange […] The post Crypto.com Secures Electronic Money Institution License From UK’s FCA appeared first on . Crypto.com Secures Electronic Money Institution License From UK’s FCA was first posted on December 5, 2023 at 9:02 pm.©2023 "Kryptomoney". Use of this feed is for personal non-commercial use only. If you are not reading this article in your feed reader, then the site is guilty of copyright infringement. Please contact me at susanta@brishti.in

bitcoinist.com Crypto Analyst Sheds Light On When The XRP Price Will Reach $10,000

A popular crypto pundit has examined a forecast by XRP enthusiast, Edward Farina, who predicted the XRP price could reach $10,000 if the Ripple network replaces SWIFT and takes full control of the cross-border payments system.  Analyst Cautions XRP Price Forecast Crypto analyst, the Modern Investor, has released a lengthy YouTube video presenting his views on […]

newsbtc.com Ethereum At $2,200 Is “Hilarious”; Is A 10X Incoming?

Crypto investor Ryan Sean Adams argued on December 4 that Ethereum’s (ETH) current valuation of around $2,200 is almost “hilarious” given the strengthening on-chain activity and the blockchain’s role in the sphere. Venture Capitalist: Here’s Why Ethereum Is Grossly Undervalued Adams cited data like the first smart contract platform generating billions annually in “gas” fees, transitioning to becoming deflationary after merging in September 2021, and the over one million validators staking earning over 5% as rewards. Moreover, the venture capitalist pointed out the potential of the United States Securities and Exchange Commission (SEC) approving spot Ethereum ETFs in the long run.  For now, BlackRock and Fidelity, two of the world’s most prominent traditional finance players, have applied to issue these derivative products. Though the SEC has yet to approve any spot crypto ETFs, the agency will authorize one or multiple, likely in early Q1 2024.  Related Reading: Warning Signals Flash As Bitcoin Surges: Expert Spotlights Potential $25,000 Liquidity Sweep Overall, the crypto market expects any spot ETF, including that of Ethereum, to attract billions in institutional capital. Beyond external factors like the SEC and ETFs talk, Adams also pointed out the rising demand for mainnet block space from the multiple layer-2 solutions running off-chain rollups parallel to Ethereum.  ETH Value Draws From On-Chain Activities According to L2Beat, Ethereum layer-2 solutions have over $14.9 billion as total value locked (TVL), with the most prominent platforms, including Arbitrum One, OP Mainnet, Starknet, and Base, commanding billions and processing tens of thousands of transactions daily. In the past week, Adams observed that leading layer-2 rollups were the top 10 consumers of Ethereum block space. Comparing Ethereum using traditional metrics like price-earnings (P/E) ratios that compare favorably to technology companies like Amazon and Zoom, Adams suggested that Ethereum’s upside is almost mathematically unavoidable this cycle. Related Reading: Shiba Inu Burn Rate Surges With Over 8 Billion SHIB Burned, Here’s The Trigger The venture capitalist, based on the above factors, thinks Ethereum could likely be 10x, pushing the coin to over $22,000 per coin. Even so, the investor can’t precisely gauge how long the markets will “stay irrational,” grossly undervaluing the second most valuable coin. In response, Uniswap founder Hayden Adams agreed Ethereum fundamentals would fuel appreciation. Even so, the founder thinks Ethereum derives strength not from speculation attributes, as Ryan Sean Adams laid out. The Uniswap founder is confident that demand from active protocols launching on the mainnet and competing for scarce block space will directly pump prices. According to Ultra Sound Money, Uniswap helps Ethereum burn the most coins. In the last month alone, Uniswap took over 14,900 ETH out of circulation, helping the network become more deflationary. Feature image from Canva, chart from TradingView

kryptomoney.com El Salvador’s Bitcoin Investment in Profit as BTC Breaks $43K

El Salvador’s President, Nayib Bukele, announced that the country’s Bitcoin investment is now profitable as the asset surpassed $42,000 for the first time in almost […] The post El Salvador’s Bitcoin Investment in Profit as BTC Breaks $43K appeared first on . El Salvador’s Bitcoin Investment in Profit as BTC Breaks $43K was first posted on December 5, 2023 at 7:50 pm.©2023 "Kryptomoney". Use of this feed is for personal non-commercial use only. If you are not reading this article in your feed reader, then the site is guilty of copyright infringement. Please contact me at susanta@brishti.in

bitcoinist.com Mystery Deepens In The Sam Bankman Fried Case: Silence Before Potential Appeal

In a twist that signals a potential appeal, Sam Bankman-Fried, known as SBF, the embattled former CEO of FTX, has chosen not to file any post-trial motions. This decision revealed through a letter to Judge Lewis Kaplan on December 1st, marks a significant turn in his legal strategy following his conviction on multiple federal fraud […]

bitcoinist.com Bitcoin Selloff: Short-Term Holders Cash Out $4.5 Billion

On-chain data shows that Bitcoin short-term holders may have sold BTC worth almost $4.5 billion during the past four days. Bitcoin Short-Term Holders Show Largest Profit-Taking Event Since Nov. 2021 As analyst James V. Straten explained in a post on X, the short-term holders have participated in a massive profit-taking event recently. The “short-term holders” […]

newsbtc.com Crypto Expert Delivers Top 8 Altcoins To Buy On Binance

As the crypto market enters into what could be considered to be another bull market, one analyst known as MacnBTC has come forward to give a list of altcoins that could do well going forward. The list includes altcoins currently listed on the largest crypto exchange in the world, Binance, making them very easy to get. The Top Altcoins To Buy On Binance Thorchain (RUNE) Appearing at the top of the list is RUNE, the native token of the THORchain network. The decentralized cross-chain liquidity protocol has been garnering a lot of public attention, rising from as low as $0.789 to as high as $7 in 2023. Related Reading: The Bulls Are Back: Crypto Institutional Inflows Balloon To 2021 Levels Chainlink (LINK) Next on the list is Chainlink’s native LINK token which powers its decentralized oracle network. Chainlink has been touted to be at the forefront of asset tokenization, putting it at the helm of a potential $30 trillion sector. Synthetix (SNX) This decentralized liquidity provisioning protocol has continued to make its mark in the decentralized finance (DeFi) world. It cuts across leading networks like Ethereum and Optimism, and Synthetix’s native token SNX is at the forefront of it. ORDI (ORDI) The ORDI token is one of the first to take advantage of an entirely new type of token creation in the crypto industry. Bitcoin inscriptions allow for the creation of tokens on the Bitcoin network and ORDI is already seeing a lot of success and adoption following this. Related Reading: Shiba Inu Open Interest Falls Behind General Crypto Market, What This Means For Price Venus Protocol (XVS) Venus protocol is both a synthetic stablecoin protocol and an algorithm money market on the BSC network. With its asset lending and borrowing solution, its XVS token is already on the way to becoming one of the most recognized names in the DeFi industry. SushiSwap (SUSHI) SushiSwap is one of the leading decentralized exchanges in DeFi coming up in the midst of names such as Uniswap (UNI) (launching as a Uniswap fork initially). It is an automated marker maker that allows users to take advantage of smart contracts to create markets for their tokens. As a result, its native SUSHI token has garnered attention in the last few years. Related Reading: Bitcoin Cycle Analysis And Macro Factors Reveal When Price Will Reach $125,000 SingularityNET (AGIX) AGIX is the token for SingularityNET, a blockchain-based platform that allows users to enhance the capabilities of artificial intelligence (AI). Its token has seen adoption as it is required for users to buy and test a wide range of AI services. Balancer (BAL) This automated market maker on the Ethereum blockchain acts as a self-balancing weighted portfolio and liquidity provider. Using the BAL token, users are able to earn profits by contributing to Balancer’s customizable liquidity pools. Total market cap rises to $1.5 trillion | Source: BTCUSD on Tradingview.com Featured image from Binance, chart from Tradingview.com

bitcoinist.com Bitcoin Readies New All-Time Highs Against The Banking System

Bitcoin price is soaring at this very moment, now above $43,000 and potentially aiming much higher with a spot ETF approval almost a certainty. While an all-time high in USD terms is still more than $20,000 away, the top cryptocurrency by market cap is about to set a new record high against its arch-nemesis: the […]

newsbtc.com Tether Strikes Gold In Bitcoin: Profits Soar Above $1 Billion Amid Bull Market

Tether, known for its USDT stablecoin, has recently made headlines with its Bitcoin holdings soaring in value, generating a profit exceeding $1 billion. Notably, this significant financial gain can be attributed to the stablecoin issuer’s approach of buying Bitcoin using a portion of its net profits. This move has proven highly lucrative amid the recent surge in BTC prices. According to reporter Wu Blockchain, Tether’s holdings currently stand at 57,576 BTC, valued at an estimated $2.4 billion. These holdings were acquired at an average rate of $22,480 per BTC, reflecting a savvy investment strategy in the volatile crypto market. Tether’s holdings of BTC currently have a profit of $1.1 billion (+85%). Tether currently holds a total of 57,576 BTC ($2.4B), with a cost of $22,480 per bitcoin. Among them, 53,492 BTC were reserved before March this year, and 4,083 BTC were purchased regularly using 15% of… — Wu Blockchain (@WuBlockchain) December 5, 2023 The recent surge in Bitcoin’s value, which has surpassed the $41,000 mark, has been a major contributor to Tether’s significant profit margin, showcasing the potential of strategic crypto investments. Related Reading: Bitcoin’s Bullish Surge Ahead: Deribit Predicts Major Price Leap In Early 2024 BTC Accumulation And Market Impact The notable profit realized by Tether is the result of its investment strategy implemented in May 2023. The company began allocating up to 15% of its net realized operating profits towards Bitcoin purchases. This strategic decision has not only diversified Tether’s investment portfolio but also aligned the company with Bitcoin’s potential as a “transformative” technology, according to Tether’s CTO Paolo Ardoino. Paolo Ardoino noted that the choice to invest in Bitcoin was based on its decentralized nature, limited supply, and growing global adoption. Ardoino emphasized Bitcoin’s “resilience” as a “long-term store of value” and its potential to reshape business and lifestyle paradigms. The Tether CTO stated: Our investment in Bitcoin is not only a way to enhance the performance of our portfolio, but it is also a method of aligning ourselves with a transformative technology that has the potential to reshape the way we conduct business and live our lives. As of the first quarter of 2023, Tether’s BTC reserves were valued at around $1.5 billion, a testament to the success of its Bitcoin accumulation strategy. Related Reading: Bitcoin Alert: $137 Million Moved By Long-Sleeping Whale, Market Braces For Impact Bitcoin Rains Profits The ongoing bull run in the crypto market has benefitted Tether and other prominent Bitcoin proponents. Max Keiser, a well-known trader and BTC supporter in the crypto community, recently revealed a significant surge in his Bitcoin holdings on X. I’m up 20,000,000% since 2011 with my #Bitcoin https://t.co/nfj4AMSgmR — Max Keiser (@maxkeiser) December 4, 2023 Keiser, who has been investing in Bitcoin since 2011, recognized the potential of BTC early on. While Keiser has not publicly disclosed the exact amount of BTC he owns, it’s clear that his early investment has paid off handsomely over the years. Featured image from iStock, Chart from TradingView

bitcoinist.com Analyst Predicts Dogecoin God Candle As Price Enters Key Supply Zone

While the Dogecoin price has seen positive headwinds over the last year, it has no doubt performed poorly compared to some altcoins in the market. This could mean that there is a delayed rally coming for the altcoin and this could suggest a massive pump when this does happen. Analysts have identified key trends in […]

newsbtc.com Analyst Says Solana At Risk Of Pullback: Here Is The Target

An analyst has explained how Solana may be at risk of a correction based on the data of two SOL technical indicators. Solana Has Recently Observed The Formation Of Two Bearish Signals In a new post on X, analyst Ali has discussed why SOL could be at risk of seeing a retracement shortly. The analyst has referred to two technical indicators for the coin: the TD Sequential and RSI. The first of these, the Tom Demark (TD) Sequential, is a metric generally used for spotting probable reversal points in any asset’s price. The indicator has two phases, the first of which is a nine-candles-long “setup” phase. When nine candles of the same polarity are in following a reversal in the price, the TD Sequential setup is said to be complete, and the asset could be assumed to have reached a likely point of a trend shift. Related Reading: Crypto Analyst Says It’s “Not Too Late” To Buy Ethereum, Here’s Why Naturally, if the candles are green, the setup’s completion would point towards a top, while red candles would imply a bottom formation. Once the setup is over, a thirteen-candles-long countdown phase starts. At the end of these thirteen candles, another probable change of direction happens for the chart. According to Ali, a setup phase has recently formed for Solana. Below is the chart shared by the analyst that shows this TD Sequential pattern in the weekly price of the cryptocurrency. The trend in the 1-week price of the asset | Source: @ali_charts on X The graph shows that the TD Sequential setup has recently been completed with green candles, implying that the price may have already reversed toward a bearish trend. In the same chart, Ali has also attached the data for the second relevant indicator: the Relative Strength Index (RSI). The RSI is a momentum oscillator that keeps track of the speed and magnitude of the recent changes in an asset’s price. This indicator determines whether the asset is undervalued or overvalued at the moment. When the metric has a value greater than 70, it can be a sign that the asset is overbought, while it being under the 30 mark suggests an oversold condition. As is apparent from the graph, the Solana RSI recently broke above the 70 mark and has remained inside the territory, suggesting that SOL has been overvalued recently. Related Reading: Bitcoin Triumphs Over $41,000, But Here’s What Could Prevent $50,000 This would mean that two bearish signals are looming over the cryptocurrency’s head right now. “A spike in profit-taking could trigger a retracement to $47.6,” says the analyst. From the current price, such a potential correction to $47.6 would mean a drawdown of over 20%. Solana’s fate may yet be averted; however, as the analyst explains, “SOL would have to print a weekly candlestick close above $68.4 to invalidate the bearish outlook and aim for $108.” SOL Price Solana had rallied above the $65 mark yesterday, but the asset has already seen a pullback as it’s now trading around $60. Looks like SOL has gone through some drawdown during the past day | Source: SOLUSD on TradingView Featured image from Shutterstock.com, charts from TradingView.com

coinspeaker.com DWF Labs Invests Additional $1.25M in FLOKI to Support the Ecosystem

Coinspeaker DWF Labs Invests Additional $1.25M in FLOKI to Support the Ecosystem According to Floki, DWF Labs has helped the ecosystem in many ways, including assisting in listing the token on crypto exchanges to make FLOKI accessible to users from around the world.  DWF Labs Invests Additional $1.25M in FLOKI to Support the Ecosystem