This article is also available in Spanish. Ethereum (ETH) has been trading between $2,300 and $2,800 on a daily basis since early August. Over the past three days, the price has struggled to break above $2,600, raising concerns among analysts and investors. Related Materials This performance has been disappointing, especially when compared to Bitcoin’s strong performance this year. Key data from Farside Investors shows that interest in Ethereum ETFs is declining, adding to the cautious sentiment surrounding ETH. This decline in interest could indicate broader concerns about Ethereum’s future performance. With ETH facing resistance at the $2,600 level, the market…
Author: Crypto Flexs
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We round up the weekly news from across Asia, highlighting the most important industry trends. Manhunt ends in South Korea as suspect caught with $15,000 new face According to a report citing a press conference on August 29, South Korean police have arrested 14 people involved in a cryptocurrency mining scam that netted 16 billion won (about $12.1 million). Police have identified the mastermind behind the scheme only as “Mr. A,” a common practice for suspects before they are formally convicted. Mr. A is accused of defrauding victims by promising them 18% monthly returns if they invested in a fake…
Iris Coleman 30 Aug 2024 20:09 The Hong Kong Mortgage Corporation (HKMC) has released its 2024 Social Bond Allocation Update and Impact Report, detailing the allocation and social impact of bonds issued in 2022 and 2023. According to the Hong Kong Monetary Authority, Hong Kong Mortgage Corporation (HKMC) has released its 2024 Social Bond Distribution Update and Impact Report. The report provides a comprehensive overview of the net proceeds distribution of the two social bonds issued in 2022 and 2023, and the social impact as of 30 June 2024. Key allocations and social impacts…
Elon Musk hints at Dogecoin relaunch at Tesla The proposal comes after the tech billionaire and his company won a class-action lawsuit. The lawsuit accuses them of manipulating the price of DOGE. Tesla co-founder and CEO Elon Musk has hinted at the possibility of Dogecoin (DOGE) returning as a payment option for the automaker’s products. The electric car maker began accepting DOGE payments for some of its products on its website in January 2022. However, the payment option mysteriously disappeared from the website after some investors accused Musk and his company of manipulating cryptocurrency prices. The lawsuit seeks about $258…
Bitcoin (BTC) fell more than 2% on September 1, as the monthly close turned “over-the-counter” and unfavorable for the bulls.BTC/USD 1-hour chart. Source: TradingViewBTC prices traditionally show a downward trend in September, when they are “red”.According to data from Cointelegraph Markets Pro and TradingView, the BTC price weakness has pushed the price down to $57,230 on Bitstamp, the most recent level since August 16.The monthly close was dismal as liquidity conditions tightened mid-week, leaving buyers unable to hedge further losses later.According to data from monitoring resource CoinGlass, Bitcoin lost 8.6% in August, compared to its average gain of 1.75%. The…
The cryptocurrency industry has always had its fair share of speculators, for better or worse. It’s no wonder then that two of the most popular platforms in crypto (Memecoin launchpad Pump.fun and decentralized prediction market Polymarket) are built on speculation.But oddly enough, these platforms can be seen as the inverse of each other. On Pump.fun, users speculate about memecoins that have no intrinsic value proposition other than branding and community value, meaning it’s hard to predict which coins will break through the noise and attract fans. On Polymarket, users are encouraged to use all the information at their disposal when…
Renowned cryptocurrency analyst Altcoin Sherpa believes that despite its astronomical gains so far this year, one popular meme coin has room to rise further. The anonymous trader told his 221,900 followers on social media platform X that POPCAT, a Solana (SOL)-based meme token, could sustain its bullish momentum after bouncing off a key level around $0.64. “POPCAT still looks pretty strong right now and is a great S/R (support/resistance) retest. If it breaks back towards the highs, this will be a leading category for memes and CAT betas.” Source: Altcoin Sherpa/X As of this writing, Popcat is trading at $0.59,…
Renowned cryptocurrency analyst Altcoin Sherpa believes that despite its astronomical gains so far this year, one popular meme coin has room to rise further. The anonymous trader told his 221,900 followers on social media platform X that POPCAT, a Solana (SOL)-based meme token, could sustain its bullish momentum after bouncing off a key level around $0.64. “POPCAT still looks pretty strong right now and is a great S/R (support/resistance) retest. If it breaks back towards the highs, this will be a leading category for memes and CAT betas.” Source: Altcoin Sherpa/X As of this writing, Popcat is trading at $0.59,…
Rebecca Moen September 1, 2024 13:11 The SEC has issued a Wells Notice to OpenSea, questioning the classification of certain NFTs as securities, which could potentially impact the entire NFT market. According to blog.bitfinex.com, the U.S. Securities and Exchange Commission (SEC) has issued a Wells Notice to leading NFT marketplace OpenSea, indicating potential litigation for classifying certain NFTs as securities. The move by the regulator represents a new phase of SEC oversight of the NFT market and raises concerns about the future of digital art and collectibles. SEC Targets the NFT Industry: What’s Going…
Blockchain, or simply chain abstraction, has become a hot topic in the web3 as developers, users, and advocates look for ways to attract new users and expand the reach of the overall cryptocurrency ecosystem. Blockchain abstraction means simplifying the end-user experience of blockchain technology by separating the complex underlying technology of blockchain while retaining the core benefits of blockchain. This allows users and developers to interact with blockchain applications more easily without having to have deep technical knowledge. Why do we need chain abstraction?Despite the improvements in usability of various blockchain applications over the years, there are still certain technical…