The total value locked (TVL) in decentralized finance (DeFi) has skyrocketed to $192 billion, marking the highest level in 15 months, according to DappRadar. Factors Driving Growth The surge is primarily attributed to rising token prices, particularly Ethereum (ETH) and Solana (SOL). Ethereum dominates DeFi with a 68% share, while Solana has seen growth in…
Shiba Inu has emerged as a major player in the meme coin market. Despite criticism, one prominent crypto investor believes SHIB has a bright future. Crypto King’s Vision Crypto King, a renowned investor, recently dismissed claims that Shiba Inu would lose value. He believes that established meme coins like SHIB are poised for success. SHIB’s…
New York Attorney General Letitia James has filed a lawsuit against two cryptocurrency companies, NovaTech and AWS Mining, for allegedly defrauding hundreds of thousands of customers, including 11,000 New Yorkers. Pyramid Scheme Allegations The lawsuit alleges that from 2019 to 2023, the companies used various platforms, including prayer groups and social media, to lure investors…
A trader who accurately predicted Bitcoin’s 2022 crash is now bullish on Ethereum. Ethereum Rally on the Horizon Capo, a pseudonymous analyst, believes Ethereum is poised to rally as long as it holds support at $3,600. He predicts a move to $4,100, followed by a correction and a push towards its all-time high of $4,900….
SkyBridge Capital founder Anthony Scaramucci believes President Biden will favor the crypto industry, even if it goes against the wishes of SEC Chair Gary Gensler. Biden’s Softening Stance Scaramucci suggests that Biden is becoming more open to Bitcoin and cryptocurrencies after the approval of spot Ethereum ETFs. He argues that Biden may lose votes if…
Former BitMEX co-founder Arthur Hayes believes that central banks’ recent policy shifts will send cryptocurrencies soaring. Interest Rate Cuts The Bank of Canada and the European Central Bank have both lowered interest rates, signaling a potential global shift towards looser monetary policy. Hayes suggests that this could lead to a surge in risk assets, including…
Price Fluctuations Bitcoin recently dipped below $70,000, currently hovering around $69,204. Support Level Analysts believe Bitcoin is testing a crucial support level between $67,353 and $69,383. This level has seen significant buying activity, with nearly 2 million addresses purchasing BTC within this range. Analyst’s Perspective Crypto analyst Ali Martinez highlights the importance of this support…
Bullish Outlook for Bitcoin Bitcoin has a history of surging in price when major companies adopt it. As adoption grows and mainstream interest increases, several factors could trigger a “Godzilla candle” rally. GameStop’s Potential Impact Bitcoin supporter Samson Mow believes that GameStop adding Bitcoin to its treasury could be the next catalyst. GameStop has a…
Core Scientific, a major Bitcoin mining company, has turned down a $1 billion buyout offer from CoreWeave. Rejection Based on Undervaluation Core Scientific’s board believes the offer of $5.75 per share significantly undervalues the company’s potential. They are confident in their growth strategy and see the offer as a lowball attempt. Strategic Alliance with CoreWeave…
The Incident On Saturday, Gemholic, a project built on the zkSync blockchain, raised suspicions of a “rug pull.” A rug pull is a scam where developers suddenly abandon a project and steal investors’ funds. In April 2023, Gemholic accidentally locked 921 Ether (ETH) in a smart contract. After zkSync’s help, the funds were unlocked on…
