It is no longer news that the altcoin season of this cycle has failed to materialize despite clear signs at some point. In the midst of this seemingly bullish cycle, recent data shows that there has been a shift that could have led to the extinction of expectations. One of the defining moments of the altcoin season was the approval of a spot Ethereum ETF. Now that it has happened, altcoins have remained silent. Will that continue? Altcoin season continues to show why it won’t come soon enough. Altcoins appear to have resumed their uptrend a while ago. However, the…
Author: Crypto Flexs
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Bitcoin (BTC) has fallen more than 4% in the last 24 hours to drop below $60,000. However, a retest of $74,000 is possible in the coming weeks, at least considering the Wyckoff reaccumulation pattern is maturing and the increased likelihood of three rate cuts by the end of 2024.Bitcoin Testing Core Spring SupportThe Wyckoff Reaccumulation Pattern is a technical setup that identifies a consolidation and accumulation phase following a long-term uptrend.In this pattern, the price usually goes through nine important stages: Reserve Supply (PSY), Buy Peak (BC), Automatic Reaction (AR), Second Test (ST), Spring, Test, Last Support (LPS) and finally…
Abe was profitable at a time when Bitcoin and other large coins were struggling to stay afloat. On-chain indicators are bullish, but next week could see price declines and increased volatility. Aave (AAVE) has performed very well over the past week. While Bitcoin (BTC) has plunged 11.25% since its high on Monday, July 29, the AAVE price has surged 11% from its high on Monday. In a week dominated by bearish news, Bitcoin’s resilience and exceptional relative strength are good news for AAVE holders. Here’s what traders and investors should watch out for: Aave had a solid strong performance in…
Cryptocurrency markets ended on a volatile note on Thursday, with most of the top coins trading in the red zone. Bitcoin found some relief at its peak after rising 0.25% over the past 24 hours. However, the rest of the top coins, except for BNB and ADA, ended the day with significant value losses. Conversely, a few meme coins gained speed during the week. With most markets entering a downturn, traders are waiting for some stability before investing. Here is our daily cryptocurrency update, providing information on the latest market developments. Bitcoin The world’s largest cryptocurrency is struggling to find…
Iris Coleman 08:07 Aug 2, 2024 Injective (INJ) has launched an upgrade to its Altaris mainnet, promising improved scalability, new developer tools, and an improved economic structure. The blockchain landscape is about to undergo a significant transformation as Injective (INJ) unveils its Altaris mainnet upgrade. This upgrade promises to redefine Injective’s capabilities, enhancing scalability, developer tools, and economic framework.backgroundThe Altaris upgrade was initiated following overwhelming community support for Injective Improvement Proposal 420 (IIP-420), which saw one of the highest governance participation rates in Injective history, with over $1 billion worth of INJ staked in…
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…
Rhinestone is dedicated to turning smart accounts into an open platform for innovation. They aim to create a secure and interoperable ecosystem of modules, facilitate permissionless smart account innovation, and enable developers to build powerful on-chain products with a seamless UX. The module registry is the foundational layer of Rhinestone’s technology stack. Its primary function is to store on-chain security claims made by independent auditors, thereby enforcing standards and security assurances for users and developers. Linestone has contracted with Ackee Blockchain to conduct a security review of the Linestone Module Registry for a total of 7 days from April 10,…
Jessie A Ellis Aug 2, 2024 08:39 In ACDE Call #193, Ethereum developers, chaired by Tim Beiko, discuss the Pectra upgrade, EIP 7212, and quantum resistance. According to galaxy.com, on August 1, 2024, Ethereum protocol developers gathered virtually for the All Core Developers Execution (ACDE) Call #193, chaired by Ethereum Foundation (EF) Protocol Support Director Tim Beiko. This biweekly meeting serves as a platform for developers to discuss and coordinate changes to Ethereum’s execution layer (EL).Pectra DevNet 2During the call, the developers shared updates on their ongoing Pectra upgrades, focusing on bug fixes in…
Marathon Digital Enters Kaspa MiningAccording to Marathon Digital’s X post, the Bitcoin mining company has jumped into mining Kaspa (KAS) tokens, securing around $16 million worth since September. Source: Marathon Digital X PostThese measures are aimed at diversifying revenue sources and taking advantage of the higher margins achievable with Kaspa mining rigs, which in some cases offer profitability of up to 95%.Diversification Strategy and Revenue ImpactAccording to Adam Swick, Marathon’s chief growth officer, Caspar mining allows the company to generate revenue separately from Bitcoin. Marathon is primarily focused on Bitcoin, but it has been profitable in the wake of the…
Darius Baru Aug 2, 2024 09:34 The Hong Kong Monetary Authority (HKMA) has warned the public about fraudulent websites and internet banking login screens imitating Dasing Bank, urging them to be vigilant and cautious. The Hong Kong Monetary Authority (HKMA) has issued a public warning about fraudulent websites and internet banking login screens impersonating Dah Sing Bank, Limited. This warning is issued following a press release from Dah Sing Bank reporting these fraudulent activities to the HKMA. Details of fraudulent activity According to the HKMA, fraudulent websites and login screens are designed to trick…