Cryptocurrency

But less than two years later, the project’s founders have disappeared, and the marketplace’s user interface has gone offline. All that remains are the project’s charity efforts, which proved to be genuine, in tandem with allegations from disgruntled users that the developers orchestrated a rug pull. In a new revelation, co-founder Danial Zey breaks his yearlong silence, not only denying all allegations and insisting the project was “hacked” but also claiming that the project is still ongoing. Cointelegraph investigates. Continue Reading on Coin Telegraph More

The Travel Rule requires virtual asset service providers (VASPs) to share customer information when making transfers to help identify suspicious transactions. The U.K. passed legislation to begin enforcing the Travel Rule in July 2022.Continue Reading on Coin Telegraph More

According to U.S. law, an interlocutory appeal occurs when a ruling by a trial court is appealed while other aspects of the case are still proceeding. The decision allows the SEC to file a motion by Aug. 18 requesting permission to bring a case to the U.S. Court of Appeals for the Second Circuit. Ripple will also be able to file an opposition to the motion. Continue Reading on Coin Telegraph More

The show kicks off with Huf’s views on the current crypto market. Is it in need of a new stimulus and new money? Is it a closed system with the same money rotating from one protocol to the next or one blockchain to another? Is that the reason for such record-low volatility? Continue Reading on Coin Telegraph More

In a recent CNBC interview, Tom Lee, co-founder of Fundstrat Global Advisors, predicted a potential surge in Bitcoin’s value, especially if spot Bitcoin exchange-traded funds (ETFs) receive US approval.Lee believes that if the US greenlights several spot Bitcoin ETF applications, Bitcoin’s demand could overtake its daily supply, possibly driving its price beyond $150,000. While spot Bitcoin ETFs are available in Europe, US approval could create a larger ripple effect due to the nation’s significant role in crypto-related ETF trading.This bullish outlook coincides with expectations surrounding Bitcoin’s next halving event in April 2024, which many predict will result in increased scarcity and a subsequent price hike. Regardless of the outcome of current ETF applications, Lee foresees a price rise due to the halving’s effects.The US Securities and Exchange Commission (SEC) can take up to 240 days to finalize its decision on Bitcoin ETFs. With industry giants like BlackRock (NYSE:BLK) entering the fray, many speculate that approvals may be imminent.However, industry voices like Jesse Myer, co-founder of Bitcoin investment firm Onramp, caution that the market might not instantly mirror these optimistic projections. Despite varying opinions, the speculation around Bitcoin’s future pricing remains a focal point in the crypto world.This article was originally published on Crypto.news More

This article will delve into five common smart contract vulnerabilities, explore their potential impacts, and provide insights into how to identify and mitigate them effectively.Continue Reading on Coin Telegraph More

On Aug. 13, Javier Millei, a libertarian candidate representing the political party Freedom Advances, took first place in the primary elections in Argentina.As he won, most of the assets in the market including the Argentinean peso dropped. Meanwhile, Bitcoin became the top 1 cryptocurrency in Argentina.On Aug. 16, Bitcoin reached an all-time high value in the country. It was worth 10.2 million Argentinean pesos, according to CoinGecko.The economic situation in Argentina is passing through a complex moment. The country has one of the highest inflation levels in the Latin American continent and the world. According to Trading Economics, Argentina registered a level of inflation of 113.4 for July.Due to the loss of value of the local currency known as the Argentine Peso and the high level of inflation, Argentinean citizens are looking to save and invest their income in new types of assets like cryptocurrencies and Bitcoin.According to Statista, Argentina currently stands in the top 10 of the countries with more cryptocurrency holders in the world, nearly 26% of the population holds cryptocurrency in the country.This article was originally published on Crypto.news More

Prominent on-chain analytical resource CryptoQuant recently called attention to this development. In an elaborate article, a CryptoQuant analyst highlighted the significance of the metric and its bearing on the market.BTC recently witnessed a notable decline, slipping from $29,500 to $28,300. This drop marked a substantial shift that brought it close to the short-term holders’ realized price.BTC price – Aug. 17 | Source: Trading ViewThe CryptoQuant report emphasized that the STH RP indicator’s relevance cannot be understated. It represents the average cost at which investors holding BTC for 155 days or less purchased their coins.Bitcoin‘s drop close to the metric presents a pivotal moment. What’s at stake here is not just a numerical value but the confidence of these investors. Should the price remain below this level for an extended period, it could signal a waning belief among these holders per CryptoQuant analyst.An equally important consideration is the potential impact on market dynamics. Short-term holders are known to be more reactive to changes in the market environment. Moreover, the ongoing downward pressure might prompt them to consider selling their holdings if the trend continues, possibly exacerbating the prevailing bearish sentiment.The report also draws upon historical context for better insights. The analysts offer a cautionary perspective that parallels significant corrections witnessed in March and June 2023. These historical events act as a reference point, suggesting what could transpire if the crucial support level is breached. The analyst examines the possible emerging scenarios, depending on whether BTC breaks below the metric or rebounds from it.Furthermore, a bullish trajectory could unfold if the price rebounds from the STHRP level, which would reinforce the strength of this support and hint at a potential resurgence in an upward trend.Conversely, a bearish outlook looms if the price decisively breaks through the STH RP level. This could trigger a more profound correction, with short-term holders potentially offloading their assets, compounding selling pressure.Meanwhile, this analysis comes as BTC dipped below the $29,000 threshold for the first time in a week, recording a 2% decline over the past 24 hours. This downward trajectory follows a recent peak at $30,244 on Aug. 8. The asset has seen a series of seven intraday losses within nine days. Bitcoin is trading at $28,583 at the reporting time.This article was originally published on Crypto.news More