Cryptocurrency

Lennon commented on a video posted by Dennis Porter, cofounder and CEO of Satoshi Action Fund. In the video, Senator Warren’s coauthor of the “Bitcoin Ban Bill,” Senator Roger Marshall, admits that he and Warren asked the American Bank Association for help to craft the legislative act against cryptocurrencies. He admits outright that he does not know much about crypto, apart from the fact that it is allegedly used for criminal purposes.If the law gets passed, it will allow Bank Secrecy Act requirements and KYC rules to be extended to include various cryptocurrency actors, including miners, validators and wallet provider companies.a critical comment on that tweet considering the IQ of some lawmakers to be not more than 90, meaning that banks are believed to be the biggest enemies of crypto since cryptocurrencies are here to excel them. In particular, this is related to transaction fees, speed of transactions and control of the way funds are being used by their owners.Lennon is into crypto himself. Earlier this year, he became keen on the Friend Tech project. In 2020, he started advocating the flagship cryptocurrency Bitcoin, pointing out its advantages over traditional currencies and financial assets.Warren believes that without proper oversight, cryptocurrencies may take down the American economy. She does admit that cryptocurrencies have the potential to create financial inclusion for the unbanked. However, the senator mostly sees Bitcoin and other cryptocurrencies as a means for money laundering, tax evasion and other criminal activities. She even claimed that North Korea uses crypto for financing half of its nuclear program – a statement that caused a sarcastic reaction across Crypto X (Twitter) recently.This article was originally published on U.Today More

This article was originally published on U.Today More

This article was originally published on U.Today More

In the world of technical analysis, a bullish divergence emerges when the RSI reflects an oversold reading followed by a higher low, coinciding with lower lows in the price. Conversely, a bearish divergence occurs when the RSI hits an overbought reading followed by a lower high, aligning with higher highs in the price.Brandt’s stark perspective contends that is overbought, and the presence of not just one, but three consecutive divergences underscores the extreme overheating of its price. However, dissenting voices may argue that the crypto market, though a decade old in the realm of exchange trading, remains young and is characterized by volatility.Often dubbed the “Wild West,” the crypto market continues to defy conventional financial analysis. Its unpredictable dynamics challenge classical approaches, where attention often surpasses fundamentals in influencing asset values. , while compelling, may encounter skepticism due to the crypto market’s notorious unpredictability.Brandt’s viewpoint, undeniably robust, highlights the increasing divergence within the community on the reliability of traditional market analysis methods in a space known for its unpredictable and sometimes improbable events.This article was originally published on U.Today More

The cofounders have identified a key support level at $2.1K, once a formidable resistance, now transformed into a critical zone for the cryptocurrency’s short-term rebound. In a recent tweet, they highlighted Ethereum’s resilience on the market, emphasizing the significance of the current support level.According to their analysis, breaching this level may activate the 50-Day Exponential Moving Average (EMA), potentially signaling a shift in market dynamics. The cofounders pointed to the presence of an ascending triangle pattern, suggesting that $2.1K is crucial for short-term rebounds, and the breach could pave the way for further gains.The cryptocurrency market has been closely monitoring Ethereum’s movements, given its position as a leading blockchain platform and the second-largest cryptocurrency by market capitalization. The Glassnode cofounders’ predictions have sparked increased interest and discussion within the crypto community, with traders and enthusiasts eagerly anticipating the outcome of this .Their tweet not only underscores the technical analysis of Ethereum’s price action but also reveals broader market sentiment and enthusiasm. The cofounders have set their sights on the formidable $2.5K target, further fueled by the prevailing optimism on the cryptocurrency market.If successful, this ambitious push could pave the way for Ethereum to ascend to $2.7K, marking a significant milestone for the digital asset. Traders and investors are keeping a keen eye on whether the cryptocurrency can the resistance-turned-support and sustain the upward momentum.This article was originally published on U.Today More

The transaction details are quite striking: the Vb-labeled address swapped 100,000,000,000,111 DOBE tokens for 10.44 ETH, equivalent to approximately $22.9K. In a separate transaction, the same address exchanged 1,858,140,000,000 DOJO tokens for 3.12 ETH, worth around $6.8K. These numbers are not just eye-catching due to their size but also because they involve meme coins, a type of asset known for its volatility and ties to internet culture rather than fundamental financial value.Interestingly, both of these assets were reportedly airdropped to address. This suggests that Buterin’s involvement with these tokens might have been minimal, if any. It is unlikely that he was even aware of these specific assets, given the sheer volume of tokens and projects in the cryptocurrency space. The decision to sell these tokens, therefore, seems to be a pragmatic one, aimed at converting what might be considered “digital clutter” into something of more recognized value and liquidity.The use of airdrops as a strategy to attract retail investors has become increasingly common in the cryptocurrency industry. Projects often send tokens to prominent figures in the crypto community, hoping to leverage their influence for a quick marketing boost. This tactic was notably used by , which airdropped a significant amount of its tokens to Vitalik Buterin’s address. Buterin, in a move that garnered widespread attention, chose to donate these tokens to charity.The idea is straightforward: by sending tokens to well-known figures in the crypto space, these projects aim to attract attention and legitimacy to their tokens. The presence of their tokens in the wallets of influential personalities is perceived as an endorsement, even if it is not officially.This article was originally published on U.Today More

Despite the introduction of layer-2 solutions (L2s) aimed at addressing Ethereum’s scalability issues, these have not gained the expected popularity among investors. The reason for this could be the seamless scalability and efficiency offered by independent networks like Avalanche, which are proving to be more alluring. This trend is evident in the price chart of , where a robust uptrend signifies the market’s confidence in its potential as a leading L1 solution.The DeFi and meme coin sectors are currently major catalysts driving this rally. High-risk appetites and the lure of significant returns have propelled these industries to the forefront of crypto trading activities. With Avalanche’s high throughput and lower transaction costs, it becomes an attractive platform for DeFi applications and meme coin transactions, fueling its growth and adoption.chart showcases the magnitude of its current trend, with its price action indicating strong bullish momentum. The swift ascent reflects a broader shift in investor sentiment, favoring platforms that can deliver the scalability and performance necessary for the next wave of blockchain adoption. As users seek more efficient and cost-effective alternatives to Ethereum’s congested network, Avalanche’s surge can be seen as a go-to solution for issues Ether could not solve in the past. The rally in AVAX is also symptomatic of a more extensive search for diversification on the market. As the DeFi and meme coin industries flourish, investors are expanding their portfolios to include assets beyond the traditional behemoths of Bitcoin and Ethereum. This article was originally published on U.Today More

This fund is arguably one of the largest forfeitures of all time, and it involves a combination of Bitcoin, Bitcoin Cash (BCH), Bitcoin Gold (BTG) and Bitcoin SV (BSV), respectively. The court filing listed the U.S. government as the Plaintiff alongside two Claimants, including Ilija Matukso and Battle Born Investment Company. Ross Ulbricht, the Silk Road marketplace founder, was named the Respondent.The United States Department of Justice (DOJ) initially seized the funds in 2020, valued at more than $1 billion at the time. Though it has been exploring ways to take complete ownership of the asset since that time, considerable movements have been over the past couple of years.At the time of writing, the 69,370 BTC is valued at $3,027,033,482.20 based on the current price of Bitcoin, pegged at $43,636.06.While there is no template or schedule for this sell-off, the plans to offload more than 45,000 more BTC were uncovered at the time. This sell-off comes despite the since he was nabbed back in 2013.With this forfeiture, another precedent is set and generally underscores how governments have absolute power over the digital currency ecosystem.This article was originally published on U.Today More