Binance CEO Richard Teng has predicted that Bitcoin (BTC) could reach a new record high by the end of the year, according to Bloomberg. Bullish Outlook Teng believes Bitcoin could surpass $80,000, exceeding his previous estimate of $80,000 by 2024. He attributes this optimism to declining supply and sustained demand. Market Corrections Teng acknowledges that…
A mysterious trader has raked in millions of dollars in profits in just 12 minutes by trading a new memecoin on the Solana network. Quick Profits According to blockchain tracker Lookonchain, the trader spent nearly $2 million to buy 70 million Slerf (SLERF) tokens. They then sold them for $5 million within minutes, netting a…
Top analyst DonAlt, who predicted Bitcoin’s 2022 market bottom, warns that the current correction is far from over. Key Support Level DonAlt believes Bitcoin bears have the upper hand as long as it trades below $68,500. He identifies $62,000 as the closest support level. Bulls Trying to Catch the Bottom Bulls are aggressively buying Bitcoin…
The Ethereum Foundation (EF) is being investigated by an unknown government agency. The investigation is confidential, so the details are not known. Warrant Canary Removed The EF has removed its “warrant canary” from its website. This is a signal that the foundation has been subpoenaed by the US government. A warrant canary is a way…
A financial expert has analyzed Bitcoin’s Open Interest and found a pattern that could indicate a significant price drop. What is Open Interest? Open Interest measures the total value of Bitcoin derivative contracts currently active on exchanges. When it increases, it usually means more people are opening derivative positions, which can increase market volatility. Conversely,…
Outflows Cross $12 Billion Grayscale’s Spot Bitcoin ETF (GBTC) has been facing significant outflows recently, totaling over $12 billion since trading began. The company’s CEO, Michael Sonnenshein, has acknowledged this and announced that fees for the ETF will be reduced. Grayscale’s High Fees Grayscale’s GBTC has the highest ETF fee in the market, charging investors…
Allegations and Indictment Alexey Pertsev, the founder of Tornado Cash, is facing charges of laundering over $1.2 billion in illicit funds. The indictment alleges that Pertsev used Tornado Cash, a cryptocurrency mixer, to hide the trail of transactions. Pertsev’s Defense Pertsev’s lawyer argues that the indictment lacks specifics on the alleged acts of money laundering….
What are Price Oracles? Price oracles are like messengers that bring information from the outside world into the blockchain. They provide accurate and reliable data, especially pricing information, to smart contracts running on blockchains. Why are Price Oracles Important in DeFi? Price oracles are essential for DeFi because they: Determine collateralization levels in lending protocols…
A popular crypto analyst has predicted a significant rally for Solana (SOL), an Ethereum competitor. The analyst, known as Altcoin Sherpa, believes SOL could double in value this year. Solana (SOL) Sherpa expects SOL to reach new highs, but he anticipates a pullback in the $200-$250 range before it continues its upward trend. He is…
Coinbase CEO Brian Armstrong believes that the most important use case for cryptocurrencies is their ability to provide a return to “sound money.” The Need for a New Financial System Armstrong argues that out-of-control money printing has led to rising inflation and economic inequality. This has created a need for a new financial system that…
