Quant analyst PlanB believes Bitcoin (BTC) could reach six figures before the end of 2024. Miner Revenue Recovery According to PlanB, Bitcoin’s price is likely to double to recover the revenue losses miners experienced due to the April halving. “The only way for mining revenue to recover is the price doubles,” he said. “So estimating…
Ethereum (ETH) has made a strong recovery after facing resistance at $2,871. Since then, the price has climbed over 9%. Technical Indicators 100-Day Moving Average and Trendline:ETH is currently approaching these indicators but is still trading below them. This suggests a potential reversal could occur. RSI Indicator:The RSI signal line is above 50, indicating bullish…
An anonymous crypto trader has lost a staggering $71 million in an address poisoning scam, highlighting the ongoing threat to crypto investors. Address Poisoning: A Deceptive Attack Address poisoning occurs when scammers create fake addresses that closely resemble legitimate addresses. They trick victims into sending their crypto to these fraudulent addresses, stealing their funds. In…
Friend.tech, a social media platform built on blockchain, wanted to celebrate the launch of its new version with an airdrop of its FRIEND tokens. But things didn’t go as planned. Airdrop Chaos On May 3rd, Friend.tech airdropped FRIEND tokens to its users. The price of the token shot up to $167 but then crashed to…
Whales Accumulate Bitcoin Bitcoin investors have been on a wild ride lately. But amidst the recent market turmoil, there are signs of a potential rebound. One key factor driving this optimism is the recent buying spree by Bitcoin whales. These large-scale investors have been accumulating the digital currency at a rapid pace, signaling their belief…
DeFi: Revolutionizing Financial Services DeFi (decentralized finance) has emerged as a game-changer in finance, offering modern and efficient alternatives to traditional institutions. Smart contracts automate financial transactions, eliminating intermediaries and providing access to competitive interest rates for lending, borrowing, trading, and saving. AI: Enhancing DeFi’s Capabilities Artificial intelligence (AI) is poised to supercharge DeFi. Its…
Off-Balance Sheet Holdings According to government data, JPMorgan Chase, Bank of America, and Citibank have amassed a staggering $7.4 trillion in assets that are not listed on their balance sheets. These assets are considered “off-balance sheet” and include various financial instruments such as loans, letters of credit, and derivatives. Historical Concerns Off-balance sheet accounting has…
Investment Announcement Crypto asset manager Pantera Capital has announced an investment in the layer-1 blockchain Toncoin. This news has led to a slight increase in the price of TON, the native token of the blockchain. Toncoin’s Background Toncoin was initially developed by the encrypted messaging platform Telegram. However, Telegram parted ways with the project in…
Completion Announcement Shiba Inu (SHIB), a rival to Dogecoin (DOGE), has completed its highly anticipated Shibarium hard fork. The team behind the dog-themed meme asset made the announcement on social media. Shibarium’s Benefits Shibarium is a layer-2 scaling solution that aims to improve transaction speed and reduce gas fees. It utilizes both plasma and proof-of-stake…
Arrest of Suspected Crypto Scammer Dutch authorities arrested a 26-year-old man in connection with the ZKasino rug pull, a $33 million crypto gambling platform scam. The investigation began on April 25 after reports from the crypto community and intelligence agencies. Binance’s Financial Crime Compliance team assisted in securing millions of euros in cryptocurrencies. Confiscated Assets…
