Digital currencies like Bitcoin have revolutionized the financial world. Now, China’s Industrial and Commercial Bank of China (ICBC), the world’s largest bank, has praised the growth of these currencies. Bitcoin’s Scarcity Like Gold ICBC believes Bitcoin’s limited supply (21 million coins) is similar to gold’s scarcity. This comparison is based on Bitcoin’s mathematical design, which…
Price Movement Ethereum failed to break above $3,650 resistance and has declined below $3,550. The price is now trading below $3,550 and the 100-hour Simple Moving Average. A bearish trend line is forming with resistance near $3,650. Possible Scenarios Bullish: If Ethereum breaks above $3,650, it could rise to $3,720, $3,820, and potentially $4,000. Bearish:…
Scalability Bottleneck DePIN excels in decentralization and security, but scalability remains a hurdle. As networks expand, transaction volume increases, particularly in IoT applications where real-time data exchange is crucial. The current blockchain infrastructure struggles to handle the scale of a mature DePIN ecosystem. Limited Interoperability DePIN’s integration with other applications and networks is vital. However,…
Crypto analyst Michaël van de Poppe warns that the popular memecoin Floki (FLOKI) could face a significant correction of up to 40%. After a rapid surge of over 13x in recent months, Poppe believes the risk of a sharp pullback outweighs the potential for further gains. Fantom (FTM) Poised for Support Retest Poppe also expects…
Binance Labs, the investment arm of the world’s largest crypto exchange, has announced a new investment in Zircuit, a Layer-2 (L2) network that uses artificial intelligence (AI) for enhanced security. AI-Enabled Security Zircuit’s L2 combines rollup technology with zero-knowledge proofs to create fast, low-cost, and Ethereum Virtual Machine (EVM)-compatible transactions. The network’s AI-powered “sequencer level”…
Dave the Wave, a trader known for predicting the May 2021 crypto crash, believes Bitcoin (BTC) is still on an upward trajectory. BTC Above Key Support Level According to Dave the Wave, as long as Bitcoin remains above a diagonal support level, it can continue to rise. This level has supported BTC since October 2023….
Recent Weakness Bitcoin has recently dipped below $68,000, but analysts believe it’s a temporary setback. Liquidity Zone: A Potential Catalyst Analyst Dippy predicts that Bitcoin could surge above $73,000, a level where many short traders have placed their stop losses. This could trigger a wave of liquidations, pushing the price even higher. Bearish Scenario Dippy…
What’s Driving the Spike? Bitcoin futures are seeing a big jump in short interest, but it’s not all bad news. Experts say it’s mainly due to a popular trading strategy called the “basis trade.” The Basis Trade Strategy The basis trade takes advantage of differences between the spot price and futures price of Bitcoin. With…
Crypto and Credit Cards Banned To protect Australians from financial losses, the government has banned the use of cryptocurrencies and credit cards for online gambling. This ban took effect on Monday, giving gambling companies six months to comply. Non-compliant companies face fines of up to $150,000. Affected Forms of Payment The ban applies to: Cryptocurrencies…
Background Following the approval of Spot Ethereum ETFs by the SEC, the Shiba Inu community has been advocating for a SHIB ETF. Petition to Grayscale A petition on Charge.org has gathered over 10,000 signatures urging Grayscale CEO Michael Sonnenshein to launch a Shiba Inu ETF. Justifications for a SHIB ETF Market Trends: Shiba Inu is…
