A prominent crypto analyst has issued a bearish warning for a popular memecoin, dogwifhat (WIF), which has soared in value over the past few months. Elliott Wave Theory Analysis According to the analyst, known as Bluntz, WIF is likely in the final stages of a corrective three-wave pattern. This suggests that the coin could drop…
LocalMonero’s Demise LocalMonero, a popular peer-to-peer trading platform for the privacy-focused cryptocurrency Monero, has announced its closure. The platform cited “internal and external factors” for the decision, which has sent shockwaves through the Monero community. Regulatory Pressure The closure comes amid increased scrutiny of the cryptocurrency industry by US authorities. Regulators have been cracking down…
Last-Minute Integration of CIP-69 Cardano founder Charles Hoskinson has confirmed the inclusion of Cardano Improvement Proposal (CIP) 69 in the upcoming Chang hard fork. This decision was made after considering community feedback and the demands of the Cardano Foundation. Hoskinson emphasized that the late inclusion should not cause significant delays, but acknowledged the potential risks…
Why Users Are Ditching Bitcoin for Litecoin Litecoin has emerged as the top choice for cryptocurrency payments on the popular platform Bitpay. Litecoin Dominates Crypto Payments According to Bitpay, Litecoin has become the most used cryptocurrency for payments, surpassing Bitcoin. Litecoin accounts for 41.38% of payments, while Bitcoin lags behind at 21.55%. Faster and Cheaper…
Foundation’s ETH Transfers The Ethereum Foundation has transferred 5,000 ETH to a multisign address since the start of 2024. The latest transfer of 1,000 ETH has raised concerns among market watchers. Market Speculation With Ethereum struggling to break above $3,200, the foundation’s actions have fueled speculation about a potential price drop. Some analysts predict a…
UX Challenges in Web 3.0 and GameFi The user experience (UX) in Web 3.0 and GameFi has been a major barrier to adoption. Setting up wallets, paying gas fees, and managing private keys can be daunting for average users. Account Abstraction: A UX Revolution Account abstraction decouples wallets from private keys, allowing users to use…
Former President Donald Trump has expressed support for Bitcoin and other cryptocurrencies, claiming that President Biden does not understand the industry. Regulatory Hostility Trump criticized the Biden administration for its hostility towards crypto, which he believes is driving companies out of the United States. He pledged to reverse this trend if elected again. Biden’s Ignorance…
Blockchain Analytics According to Santiment, an Ethereum-based altcoin, Chainlink (LINK), is dominating the real-world assets (RWA) sector in terms of development activity. Chainlink’s daily activity on GitHub surpasses that of its closest competitor, Synthetix (SNX), by over two times. Top RWA Projects by Development Santiment’s ranking of RWA projects based on development activity is as…
The U.S. Securities and Exchange Commission (SEC) has labeled Ripple’s planned stablecoin as an “unregistered crypto asset.” Unregistered Sales According to the SEC, Ripple has been selling XRP, the digital asset used for the XRP Ledger, as an unregistered security since 2013. The agency claims that Ripple also intends to launch a new token that…
Nigerian Government Denies Claims Nigeria has vehemently denied bribery allegations made by Binance, the world’s largest cryptocurrency exchange. According to the Nigerian Ministry of Information, the allegations are “baseless” and “a diversionary tactic” to shift attention away from Binance’s own activities. Binance’s Accusations Binance CEO Richard Teng claimed that Nigerian officials demanded a $150 million…
