Binance, the world’s largest cryptocurrency exchange, will pay 9.6 million reais ($1.76 million) to the Brazilian Securities and Exchange Commission (CVM) as a settlement for offering derivatives trading services in the country without receiving the corresponding license.
Although the blockchain industry owes much of its success to so-called bridges, these are far from perfect solutions, argues Justin Wang, the founder and CEO of Zeus Network. While they help address the problem of liquidity segmentation that afflicts the Web3 industry, Wang insists that they pose significant security risks. Keeping the Innovation Flywheel Spinning […]
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After trading under a bearish sentiment for a brief period, the cryptocurrency market has recorded a bullish recovery over the past day. Moreover, the market is currently valued at $2.11 Trillion with a 24-hour jump of 1.48%.
Following this, mid-cap and low-cap altcoins have gained attention from the crypto space. This has resulted in them recording a significant uptrend in their respective portfolios within a short period.
Dive in as, in this article, we have covered the market sentiments, price action, and short-lived price targets of the top 3 altcoins that have the potential to record a massive surge in their respective portfolios during the upcoming time.
Amid increased price action in the crypto market, the Syscoin price has recorded a surge of over 30% within the past day with a trading volume of $46.62 Million, a jump of 1,066%. Moreover, it has added 36.38% over the past week, indicating a rising bullish sentiment in the market.
The Moving Average Convergence Divergence (MACD) has displayed a constant green histogram, indicating an increase in the buying pressure within the crypto space. Further, the SMA indicator has recorded a positive curve, suggesting that the SYS price will continue gaining value.
If the market regains momentum, the Syscoin price will head toward its upper resistance level of $0.1630 during the upcoming weeks. Conversely, if the bears overpowered the bulls, the altcoin will retest its crucial support level of $0.0670.
Despite recording a correction of approximately 2% within the past day, this altcoin has added over 3% during the past seven days and 16.89% during the past 30 days. Furthermore, it has rewarded its long-term investors with a YTD return of 18.76%.
The Relative Strength Index (RSI) continues hovering close to its overbought range, highlighting increased price volatility in the market. However, the average trendline records a bearish crossover, indicating uncertainty in future price action.
Suppose, the bulls regain power, in that case, the BDX price will retest its upper resistance level of $0.0650. Negatively, if the bears dominate the crypto space, the Beldex price will plunge toward its low of $0.04320.
With the bullish recovery in the market, the LQTY price has jumped over 7% within the past day with a trading volume of $17.063 Million. Moreover, with a market capitalization of $60.164 Million, the Liquity price has secured the 444th position in the global crypto-list.
The Simple Moving Average (SMA) is on the verge of recording a bullish convergence, suggesting an increase in the positive influence. On the other hand, the MACD records a constant flatline with its averages showing a neutral trend. This suggests a mixed price sentiment in the crypto market.
Maintaining a bullish action could result in this altcoin heading toward its upper resistance level of $1.20. However, if the market fails to regain momentum, the LQTY price could hover close to its crucial support level of $0.560.
PRESS RELEASE. Singapore, August 18th, 2024 – In the rapidly evolving cryptocurrency industry, LBank has established itself as a key player. Over the past nine years, LBank has achieved numerous milestones and has grown into a comprehensive crypto trading platform and a leading exchange in innovative crypto asset categories. As LBank commemorates its ninth year […]
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The last confirmed sale of Silk Road assets by the government was in March 2023, when it unloaded 9,861 coins for $216 million, according to court filings. The government laid out plans in the filing to sell the remaining assets in four tranches during that year, but there wasn’t follow-up communication about any sales since then.
X’s Global Government Affairs Team reported on August 17 that the social network would be forced to shut down its local operations in Brazil due to judicial orders issued against its legal representative. The order, issued by Alexandre de Moraes, a member of the Supreme Federal Tribunal, would have this legal representative facing jail time […]
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Semilore Faleti is a cryptocurrency writer specialized in the field of journalism and content creation. While he started out writing on several subjects, Semilore soon found a knack for cracking down on the complexities and intricacies in the intriguing world of blockchains and cryptocurrency.
Semilore is drawn to the efficiency of digital assets in terms of storing, and transferring value. He is a staunch advocate for the adoption of cryptocurrency as he believes it can improve the digitalization and transparency of the existing financial systems.
In two years of active crypto writing, Semilore has covered multiple aspects of the digital asset space including blockchains, decentralized finance (DeFi), staking, non-fungible tokens (NFT), regulations and network upgrades among others.
In his early years, Semilore honed his skills as a content writer, curating educational articles that catered to a wide audience. His pieces were particularly valuable for individuals new to the crypto space, offering insightful explanations that demystified the world of digital currencies.
Semilore also curated pieces for veteran crypto users ensuring they were up to date with the latest blockchains, decentralized applications and network updates. This foundation in educational writing has continued to inform his work, ensuring that his current work remains accessible, accurate and informative.
Currently at NewsBTC, Semilore is dedicated to reporting the latest news on cryptocurrency price action, on-chain developments and whale activity. He also covers the latest token analysis and price predictions by top market experts thus providing readers with potentially insightful and actionable information.
Through his meticulous research and engaging writing style, Semilore strives to establish himself as a trusted source in the crypto journalism field to inform and educate his audience on the latest trends and developments in the rapidly evolving world of digital assets.
Outside his work, Semilore possesses other passions like all individuals. He is a big music fan with an interest in almost every genre. He can be described as a “music nomad” always ready to listen to new artists and explore new trends.
Semilore Faleti is also a strong advocate for social justice, preaching fairness, inclusivity, and equity. He actively promotes the engagement of issues centred around systemic inequalities and all forms of discrimination.
He also promotes political participation by all persons at all levels. He believes active contribution to governmental systems and policies is the fastest and most effective way to bring about permanent positive change in any society.
In conclusion, Semilore Faleti exemplifies the convergence of expertise, passion, and advocacy in the world of crypto journalism. He is a rare individual whose work in documenting the evolution of cryptocurrency will remain relevant for years to come.
His dedication to demystifying digital assets and advocating for their adoption, combined with his commitment to social justice and political engagement, positions him as a dynamic and influential voice in the industry.
Whether through his meticulous reporting at NewsBTC or his fervent promotion of fairness and equity, Semilore continues to inform, educate, and inspire his audience, striving for a more transparent and inclusive financial future.
Bitcoin (BTC) price action has once again captured the financial world’s attention, nearing a gold-style all-time high (ATH) as its price surged to $59,800. With the recent rise in gold prices hitting $2,509.41 per ounce, parallels between these two assets have been drawn. Several factors are driving BTC rally, suggesting that a new ATH might be just around the corner. Here are five reasons why BTC is climbing toward this crucial milestone.
A significant factor fueling Bitcoin price surge is the continued drainage of BTC exchange balances. Also, BTC witnessed substantial accumulation by long-term holders, often referred to as “whales.” Over the last 30 days, exchanges have witnessed a reduction of 11,317.53 BTC.
It involved strategic withdrawals from major platforms like Coinbase Pro and Bitfinex, accounting for over 23,000 BTC accumulation, according to Coinglass data. Moreover, in the last seven days alone, the exchange balance has been reduced by 10,657.87 BTC. This massive outflow suggests that traders are moving their BTC holdings into cold storage, signaling a strong belief in its long-term value.
Furthermore, long-term holders have reportedly bought the dip with over 500,000 BTC accumulated since July 30. This accumulation phase by whales, who often influence market trends, indicates a robust bullish sentiment, further pushing BTC price toward its ATH.
Another key driver of the recent price momentum is the robust inflows into Bitcoin exchange-traded funds (ETFs). Spot Bitcoin ETFs saw a total inflow of $35.9 million on August 16 alone, continuing a week of positive flows amounting to $32.4 million.
Notably, BlackRock, Fidelity, Bitwise, and Ark contributed to this inflow with significant investments, totaling $20.4 million, $61.3 million, $12 million, and $13.4 million, respectively. However, Grayscale’s GBTC recorded massive outflows of $72.9 million in Friday. Nonetheless, the resilient performance of other ETFs is seen as a bullish sign.
These ETF flows reflect growing investor confidence in BTC as an asset class, with more investors seeking exposure through regulated financial products. The inflows into these ETFs provide additional liquidity and buying pressure, which in turn supports the upward trajectory of Bitcoin price.
Institutional adoption of Bitcoin ETFs has gained significant traction, as evidenced by recent filings and disclosures. Goldman Sachs, for instance, revealed in a 13F filing that it held substantial positions in various Bitcoin ETFs as of June 30. These included $238.6 million in iShares Bitcoin Trust, $79.5 million in Fidelity Bitcoin ETF, and other notable holdings.
Similarly, Morgan Stanley disclosed massive investments in the U.S. spot Bitcoin ETFs. The banking behemoth holds 5,500,626 shares of BlackRock iShares Bitcoin Trust, valued at $187.79 million. Also, pension funds are now considering these investments.
The involvement of major financial institutions like Goldman Sachs and Morgan Stanley in Bitcoin ETFs signals a strong endorsement of the crypto’s potential. Additionally, Framework Ventures co-founder Vance Spencer is bullish on BTC ETFs and expects institutional investment to surge.
As the US election cycle approaches, market sentiment is increasingly influenced by the political sector. Historically, elections have been pivotal moments for financial markets, often leading to increased volatility and strategic positioning by investors.
Meanwhile, presidential candidates like Donald Trump and Robert F. Kennedy Jr have expressed a pro-crypto stance. Whilst, Kamala Harris initiated a crypto reset move to end the hostile approach considered by Democratic leaders and Biden administration.
Some analysts, like Doctor Profit, believe that BTC could enter a price discovery phase post-election, potentially setting a new ATH. While the timing remains uncertain, the anticipation surrounding the elections adds to the bullish sentiment driving Bitcoin price to new highs like gold. Moreover, the analyst ditched the notion of a possible drop to the $40,000 level.
Finally, expectations of a potential Federal Reserve rate cut are providing a significant tailwind for Bitcoin price. With cooling inflation figures and dovish comments from Fed officials, market participants are increasingly betting on a rate cut at the upcoming FOMC meeting.
According to the CME FedWatch Tool, there is a 75% probability of a 25 basis point cut. Whilst, 25% market participants expect a 50 bps cut. A rate cut would likely weaken the US dollar and boost assets perceived as hedges against inflation, such as BTC. The possibility of looser monetary policy is thus another factor contributing to Bitcoin’s climb toward its ATH like gold.
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Kritika Mehta
Kritika boasts over 2 years of experience in the financial news sector. Currently working as a crypto journalist at Coingape, she has consistently shown a knack for blockchain technology and cryptocurrencies. Kritika combines insightful analysis with a deep understanding of market trends. With a keen interest in technical analysis, she brings a nuanced perspective to her reporting, exploring the intersection of finance, technology, and emerging trends in the crypto space.
Disclaimer: The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.
Opeyemi is a proficient writer and enthusiast in the exciting and unique cryptocurrency realm. While the digital asset industry was not his first choice, he has remained absolutely drawn since making a foray into the space over two years. Now, Opeyemi takes pride in creating unique pieces unraveling the complexities of blockchain technology and sharing insights on the latest trends in the world of cryptocurrencies.
Opeyemi savors his attraction to the crypto market, which explains why he spends the better parts of his day looking through different price charts. “Looking” is a rather simple way to describe analyzing and interpreting various price patterns and chart formations. However, it appears that is not Opeyemi’s favorite part – in fact, far from it.
Being able to connect what happens on a price chart to on-chain movements and blockchain activities is what keeps Opeyemi ticking. “This emphasizes the intricacies of blockchain technology and the cryptocurrency market,” he would say. Most importantly, Opeyemi thinks of any market insights as the gospel, while recognizing that he is only a messenger.
When he is not clicking away at his keyboard, Opeyemi is most definitely listening to music, playing games, reading a book, or scrolling through X. He likes to think he is not loyal to a particular genre of music, which can be true on many days. However, the fast-rising Afrobeats genre is a staple in Opeyemi’s Spotify Daily Mix.
Meanwhile, Opeyemi is a voracious reader who enjoys a wide category of books – ranging from science fiction, fantasy, and historical, to even romance. He believes that authors like George R. R. Martin and J. K.
Rowling are the greatest of all time when it comes to putting pen to paper. Opeyemi believes his reading of the Harry Potter series twice is proof of that.
Indeed, Opeyemi enjoys spending most of his time within the four walls of his home. However, he also sometimes finds solace in the company of his friends at a bar, a restaurant, or even on a stroll. In essence, Opeyemi’s ambivert (haha! been searching for an opportunity to use the word to describe myself) nature makes him a social chameleon who is able to quickly adapt to different settings.
Opeyemi recognizes the need to constantly develop oneself in order to stay afloat in a competitive and ever-evolving market like crypto. For this reason, he is always in learning mode, ready to pick up the slightest lesson from every situation. Opeyemi is efficient and likes to deliver all that is required of him in time – he believes that “whatever is worth doing at all is worth doing well.” Hence, you will always find him striving to be better.
Ultimately, Opeyemi is a good writer and an even better person who is trying to shed light on an exciting world phenomenon – cryptocurrency. He goes to bed every day with a smile of satisfaction on his face, knowing that he has done his bit of the holy assignment – spreading the crypto gospel to the rest of the world.
Polygon (MATIC) and Avalanche (AVAX) have lost a significant value for over a month. The consistent price drop leads investors to cancel it out of their buying lists and seek other promising investment options to secure gains and balance their bleeding portfolios.
DTX Exchange (DTX) emerges as a strong market contender for significant gains with strong community support and robust technologies. The record-breaking presale momentum of DTX is attracting Polygon (MATIC) and Avalanche (AVAX) investors to join early and have relief with its bullish post-launch potential.
DTX Exchange (DTX) sets the stage to flip ranking tables with its impressive presale performance in 2024. The hybrid marketplace is unique in its tradFi offerings with passive income strategies to bring the best out of the centralized and decentralized models. With $1.4 million raised in stage 2 of the presale, DTX Exchange emerges as the first Layer-1 project to invest in 2024 presales.
The lightning-fast platform of DTX Exchange allows users to focus on maximum profitability through advanced automated trading strategies and the 1000x leverage feature. With over 120k+ digital assets trading options, the platform becomes a robust and seamless assistant to traders from all financial sectors for higher market positions with minimum capital and no loans needed.
Through the VulcanX update, DTX Exchange aims to empower traders with no gas fee over transactions, providing seamless and accessible trading for all users. The platform prioritizes user security by employing top-notch asset-holding strategies and eliminating KYC requirements, through cutting-edge solutions and decentralized security protocols.
With over 74% of the DTX tokens sold, early investors are rushing to acquire the DTX tokens before it’s too late. According to expert forecasts, the DTX token will skyrocket to $1 from the current price of $0.04 once it hits CEX platforms. DTX Exchange presents a once-in-a-lifetime opportunity for high-profit ratios, with a massive 100x ROI potential.
Polygon (MATIC) has been facing a significant price devaluation for over a month with a 27% price decline. The project’s announcement to initiate rebranding from MATIC to POL by September 4 stirred a wave of excitement among community members, however, it had a very minor impact on the falling price trend.
This Polygon (MATIC) trendline is leading to significant dumping by investors to mitigate further downside risk amid increasing bearish sentiments around the crypto. The $0.4 support level is breached and analysts suspect that more price correction will lead the Polygon (MATIC) to the $0.35 support level in the upcoming days.
Avalanche (AVAX) holders are quite disappointed by the price freefall of the crypto since early July. The market cap of AVAX has dropped below the $8 billion mark, with over 26% devolution in the past 30 days. This price trajectory concerns investors as many long-term holders are now seeking other options to break free from further downside risk of Avalanche (AVAX).
Moreover, the upcoming 9.54 Million AVAX Token Unlock on August 20 and the news about negative funding rates are adding to the price volatility of Avalanche (AVAX). Following the technical indicators, analysts warn short-term investors of betting high on Avalanche (AVAX) before a decisive make-or-break indication on price charts from the $18 support.
As Polygon (MATIC) and Avalanche (AVAX) face notable selling pressures amid a price freefall for over a month, DTX Exchange (DTX) stands as a beacon of hope for bleeding investors. Its ground-breaking presale makes it a compelling alternative for investors seeking high-profit potential.
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