Galaxy Digital CEO Mike Novogratz predicts a new “market event” will take Bitcoin (BTC) and other cryptocurrency assets to the next level. During Galaxy Digital’s first quarter earnings call, the billionaire said a breakout in Bitcoin, Solana (SOL), Ethereum (ETH) and other digital assets may still be months away after trading sideways for some time. He said Bitcoin could trade in the $55,000 to $75,000 range until there is clarity on cryptocurrency regulation in the upcoming US presidential election in November or the Federal Reserve cuts interest rates. “Listen, we had a lot of tailwinds in the fourth and first…
Author: Crypto Flexs
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Solana started a new rise above the $150 resistance. SOL price is up almost 15% and could continue to rise if it overcomes $165 resistance. SOL price recovered higher and tested $162 resistance against the US dollar. The price is currently trading above $150 and the 100-hour simple moving average. On the hourly chart of the SOL/USD pair (data source from Kraken), a breakout occurred above the main bearish trendline with resistance at $148. Failure to hold above $158 could lead to removal of the $165 resistance level. Solana price begins new surge Solana price formed a support base near…
The cryptocurrency market, like any other financial market, experiences cyclical swings between bullish (upward) and bearish (downward) trends. While bull markets capture headlines with meteoric price rises, bear markets offer a different challenge – one that separates the savvy investors from the emotional ones. A bear market is typically defined as a period where cryptocurrency prices fall by more than 20% from recent highs. This decline can be attributed to various factors, including negative news, regulatory uncertainty, or simply a correction after a rapid price increase. Bear markets can be nerve-wracking, but they also present opportunities for those who are…
OKX Introduces New USDC Spot Trading PairLeading cryptocurrency exchange OKX announced that it will support a new USDC spot trading pair, further strengthening the growth of the USDC ecosystem. This move aims to meet the diverse trading needs of users.As stated in the official announcement published on May 16, 2024, the new USDC trading pair will be introduced in the spot trading section on May 20, 2024 between 7:00 AM and 8:00 AM (UTC). Not only does it expand the trading options available to OKX users, but it also contributes to the continued expansion of…
Chinese police have uncovered a $1.9 billion underground banking operation linked to the popular stablecoin Tether.An underground banking operation that exchanged foreign currencies using the Tether (USDT) stablecoin was operated in Chengdu, China. City police issued a media release highlighting details of the underground operation and said they had arrested 193 suspects in 26 provinces. The police report noted that the underground USDT banking operation began in January 2021 and was mainly used to smuggle pharmaceuticals, cosmetics and investment assets out of the country.Authorities destroyed two underground operations in Fujian and Hunan, and police froze 149 million yuan worth $20…
BitMEX Announces Listing of NOTUSDT Perpetual SwapBitMEX, a leading cryptocurrency derivatives trading platform, announced the imminent listing of NOTUSDT, a new perpetual swap. This new listing gives traders the opportunity to leverage their trades by up to 10x.NOTUSDT transaction detailsNOTUSDT perpetual swap trading begins later today. The exact timing will vary depending on the index constituents. BitMEX assures users that all traders will be notified via site announcements and social channels once the listing is launched.For more information about this new listing, please visit the BitMEX blog. Additionally, if you have any questions or concerns,…
The DOJ arrested and charged two people on May 15 for the $25 million MEV exploit on the Ethereum blockchain.The defendants, brothers Anton and James Pepaire-Bueno, were each charged with conspiracy, wire fraud and money laundering, which could result in up to 20 years in prison.offensive lineThe defendants’ scheme focuses on Ethereum’s Maximum Extractable Value (MEV), specifically the MEV-Boost software used by many Ethereum validators to optimize transactions as searchers use MEV bots to find profitable arbitration opportunities. Several customized steps were included.First, the defendants allegedly established Ethereum validators and concealed their identities through various tactics. After establishing the network,…
Bitcoin hit $66,000 on May 16 after U.S. macro data sparked a surge in risk assets.BTC/USD 1-hour chart. Source: TradingViewBTC price rise returns mixed reactionsData from Cointelegraph Markets Pro and TradingView followed the BTC price action as bulls attempted to take gains of 7.5% from the previous day.This comes as the Consumer Price Index (CPI) in April significantly exceeded expectations, sparking predictions that financial conditions for cryptocurrency and risky assets will ease.Source: TedtalksmacroSome immediate reactions were skeptical, with market observers pointing to the rapidly increasing open interest as one of several signs that Bitcoin’s movement may be unsustainable.Popular Trader Credible…
TON has earned over 160% more than BTC so far. TON also saw more activity in some on-chain metrics. Toncoin (TON) has emerged as the only layer 1 network that can effectively compete with Bitcoin (BTC) since the beginning of this year. TON has outpaced BTC by over 160% and boasts a greater number of active addresses. Despite these achievements, traders appear to lack confidence in TON as sentiment surrounding the coin turns negative. Toncoin is up more than 100% compared to Bitcoin. AMBCrypto’s analysis of Bitcoin and Toncoin price trends shows that Toncoin has surpassed BTC in terms of…
Oklahoma has become the first state in the country to pass comprehensive laws protecting the rights of citizens to self-manage digital assets and engage in cryptocurrency mining activities. Governor Kevin Stitt signed HB3594, the ‘Bitcoin Rights’ bill, on Monday, establishing a legal framework for blockchain technology and digital assets in the state. TLDR Oklahoma has become the first state in the country to pass a law protecting the right to self-manage Bitcoin and other digital assets using hardware wallets. The new law prohibits states from banning or restricting the use of cryptocurrencies to purchase legitimate goods and services. Home digital…