The company reported better-than-expected second-quarter results on Thursday, but its main source of revenue, trading fee revenue, fell sharply.
Author: Crypto Flexs
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The price of XRP (XRP) has erased all the gains made over the past two weeks. The decline is due to several factors, including the delay in the Ripple vs. SEC lawsuit and reduced expectations of a September rate cut.XRP/USD daily price chart. Source: TradingViewSEC postpones closed-door meetingA closed-door meeting between U.S. Securities and Exchange Commission (SEC) commissioners on August 1st caught the attention of cryptocurrency traders, with many speculating that the commissioners would discuss Ripple and solutions during the meeting. But the meeting was unexpectedly canceled, with Ripple and the SEC remaining silent and not providing a specific explanation…
Cryptocurrency trader and analyst is expressing an overall bullish outlook for Dogecoin (DOGE) as Mimecoin consolidates. Altcoin Sherpa, an anonymous analyst, told his 11,300 YouTube subscribers that DOGE could eventually explode and hit as high as $0.50. However, the analyst warns that DOGE’s relatively large market cap could limit its upside potential. He also says DOGE could be underperforming other memecoins, including Pepe (PEPE), Bonk (BONK), and dogwifhat (WIF). “I think DOGE will eventually test these higher levels. I think $0.35 to $0.40 is definitely possible. Even as high as $0.50 is possible. But DOGE might have the problem that…
A wallet linked to Genesis Trading, a cryptocurrency lending institution owned by conglomerate Digital Currency Group. According to blockchain data provider Arkham Research, it moved 16,000 bitcoins (worth $1.1 billion) and 166,000 ethers (worth $521 million) on Friday, which would seem to indicate that Genesis Trading will begin repaying its creditors after the 2022 implosion.. This comes just over a year after Genesis agreed to repay $1.5 billion to clients of cryptocurrency exchange Gemini. Gemini used Genesis to earn returns on crypto deposits made by Earn clients, which Genesis then lent to the now-bankrupt Three Arrows Capital hedge fund. Gemini…
Cardano price started a new downtrend below the $0.4120 support level. Ethereum’s decline seems to be dragging ADA down to the $0.380 support level. ADA price is trading down again from the $0.450 resistance zone. The price is trading below $0.4120 and the 100 hourly simple moving average. On the hourly chart of the ADA/USD currency pair, there is a resistance line forming at $0.4060, forming a major downtrend line (data source: Kraken). The pair may continue to decline and test the $0.380 support zone. Cardano Price Shows Signs of Further Downward Fall After a steady rise, Cardano faced sellers…
Caroline Bishop 2 Aug 2024 14:51 According to a16z crypto, the UK is at a critical juncture where it needs to foster new technology policies, particularly in the blockchain space, to drive economic growth. According to a16z crypto, the UK is at a critical juncture, as highlighted by the recent King’s Speech to Parliament, in which the UK was urged to ‘pursue sustainable growth by encouraging investment in industry, skills and new technologies’.The potential of blockchain technologyThe new Labour government has a significant opportunity to achieve this goal by establishing policies that support the…
Star Xu, founder of major cryptocurrency exchange OKX, has warned against frequent sell-offs of newly listed altcoins. Specifically, he points to the rapid decline of the Aevo token, which fell from nearly $4 in March 2024 to its current value of $0.434. That’s a 90% drop in value in just five months. Aevo Announces Purchase to Create Long-Term Value for Token Holders Mr. Xu’s criticism goes beyond market fluctuations and extends to the ethical responsibilities of cryptocurrency exchanges. In a Twitter post, Xu questioned the motivations of cryptocurrency exchanges for listing new tokens, arguing that such behavior often leads to…
As investors express concerns about BTC price performance, Bitcoin needs to hold $60,000 to reach a new all-time high.BTC/USD 1-hour chart. Source: TradingViewBitcoin price stable despite stock selloffAccording to data from Cointelegraph Markets Pro and TradingView, Bitcoin (BTC) bounced from its two-week low of $62,235 on August 2.Bitcoin continues to show signs of breaking towards $60,000, and risk assets have been experiencing a period of volatility earlier this month.Stock markets around the world are in the midst of a prolonged selloff, and while cryptocurrencies have yet to match their volatility, concerns about the immediate future remain.Japan made headlines on August…
Social media platform X has suspended an account called MakeNowMeme, which allowed users to launch their own Solana-based memecoin simply by posting tweets on the platform. On the account page, X noted that the platform suspends accounts that violate its rules.“@makenowmeme X account has been suspended and is under review for recovery. Mining is currently suspended.” MakeNowMeme official website saidHe added that he will also provide webpage updates with new solutions.MakeNowMeme required X users to launch their own MemeCoins by posting a tweet in a specific format that started with a dollar sign and the ticker name, followed by the…
The project released its white paper just days after surpassing 300 million users. Project Officials Promise ‘Largest Cryptocurrency Airdrop’ Hamster Combat, a popular Telegram-based game, recently reached a major milestone by reaching 300 million users in just five months since its launch. But that’s not all. Hamster Kombat has released a whitepaper and updated its development roadmap to further expand its massive user base, providing insight into its future plans and token economics. What does the white paper say? According to the newly released whitepaper, Hamster Kombat will allocate 60% of its total token supply to community distribution, with the…