A widely known analyst has issued a warning about a crypto bear market, saying the window of opportunity to drive the market lower is closing in. Flow Horse, an anonymous analyst, told his 220,100 followers on social media platform X that he is bullish on dogwifhat (WIF), a Solana (SOL)-based meme token. According to analysts, WIF is one of the fastest horses in the Mimecoin sector and is expected to continue its relative strength until the bull market ends. “WIF repurchase. The most powerful meme that says that a market is no longer bullish means that the lineup of market…
Author: Crypto Flexs
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According to Grayscale’s recent market commentary, Bitcoin (BTC) is facing a significant supply glut as of June 2024. This glut is said to be impacting the cryptocurrency’s market performance, adding to the complexity of the already volatile digital asset market. Market Dynamics and Oversupply Supply overhang is a situation where the supply of tradable Bitcoin exceeds demand, putting downward pressure on the price. This can be caused by a variety of factors, such as large amounts of Bitcoin moving to exchanges, increased mining activity, or large sales by major holders. Grayscale’s analysis highlights that this…
Paxos has received approval from the Central Bank of Singapore to provide certain services, which will ultimately allow the company to issue stablecoins that are compliant with the country’s stablecoin framework.Paxos Digital Singapore Pte. LTD., the Singapore-based entity of Paxos, has been granted the right to offer “digital payment token services” as a primary payment institution, the stablecoin issuer said in a statement on Monday. “Stablecoins issued under the standards set by regulators like the Monetary Authority of Singapore (MAS) are renowned for their rigorous regulatory standards and are a critical step toward democratizing access to commerce and financial services,”…
The 50% retracement level and the daily RSI indicated a possible range formation. Buying pressure is increasing and the liquidation heatmap is showing contrary signals. PEPE has struggled to break above local resistance levels. Mimecoin has shown signs of forming a range, but according to a previous AMBCrypto report, a bullish chart pattern is also a viable scenario. The report also added that on-chain metrics suggest selling pressure is likely to increase in the coming days. For PEPE, we looked at liquidation level data along with technical analysis to see which path is more likely. Key levels of long-term Fibonacci…
OKX is introducing a new campaign targeting merchants in Latin America, giving them the opportunity to win a featured ad spot on its peer-to-peer marketplace. The initiative aims to increase visibility and drive traffic by placing merchant ads at the top of the marketplace for three days. Campaign Details The campaign period runs from 1 July 2024 15:00 UTC-3 to 26 December 2024 15:00 UTC-3. To be eligible, participants must be a registered Super or Diamond Merchant and have an account in one of the following countries: Argentina, Colombia, Venezuela, Mexico, Peru, Panama, Costa Rica,…
As Bitfarms Try to catch on Despite Riot Platforms’ hostile takeover, the company’s mining operations continue to recover. April Bitcoin Halving.Bitfarms mined 189 bitcoins last month. Up from 156 Bitcoin in May. It sold 134 of those 189 BTC for $8.8 million. The company now holds 905 BTC in its treasury, up from 850 last month, and worth $55.2 million when the BTC price is $61,000 on June 30, 2024.“We are making progress on upgrading our fleet and building new facilities, with over 39,000 new miners installed and over 39,000 older miners de-racked,” said Ben Gagnon, Chief Mining Officer. “Upgrades…
Bitcoin and the broader cryptocurrency markets have historically shown an uptrend in July, but traders are concerned that the Mt. Gox redemption could affect the strength of that trend.
According to Polygon Technology, Composability Labs is making significant progress in decentralized finance (DeFi) by developing Spark, a high-speed on-chain central limit order book (CLOB) designed to leverage the state minimization capabilities of Polygon (MATIC) Miden.Solving Blockchain State BloatState bloat is a persistent problem in blockchain technology, where data accumulates as usage increases, slowing down the system and increasing transaction costs. Polygon Miden solves this problem by incorporating state minimization, allowing blocks to be produced and verified without having to store the entire state of the zkVM rollup. Instead, using zero-knowledge proofs (ZKPs), users can…
Solana meme coin Dogwhiphot struggled to hit a three-month low last week. WIF hit an all-time high of $4.83 in March before later falling to $1.55. WIF’s success of recovering 45% in 7 days was driven by increased trading volume. Dogwhipheart (WIF), the popular Solana (SOL) meme coin, has seen a strong seven-day rally, rising 45% from its weekly low of $1.55. WIF is now halfway to the $5 price milestone, so the current price range is acting as a support floor for WIF as traders show renewed interest in spot and derivatives.WIF, daily trading volume surgesWIF is once again…
The U.S. Securities and Exchange Commission has sued Silvergate Capital Corporation, citing transfers with FTX and accusing the crypto-friendly bank of making false statements to the public about its anti-money laundering procedures. Crypto-Friendly Banks be liquidated The bank, which closed last year, was sued on Monday, according to a complaint filed by the SEC. The SEC also named the bank’s CEO, Alan Lane, former COO Kathleen Fraher, and former CFO Antonio Martino. The SEC found that Silvergate’s Bank Secrecy Act and AML compliance programs were inadequate. Specifically, the bank failed to take adequate measures to monitor the Silvergate Exchange Network,…