Cryptocurrency

Consequently, market participants appear to be selling due to the decline, heaping more pressure as the token crashed below multiple support levels to around the $0.37 zone.1INCH is correcting less than a week after a market-wide rally sparked by Judge Analisa Torres’ ruling in the Ripple vs. United States Securities and Exchange Commission (SEC) legal battle. The market interpreted the order positively, lifting Bitcoin and altcoins, including 1INCH.Before then, 1INCH had been consolidating between $0.30 and $0.34 for two weeks before its upsurge on July 13. The rally brought it to a high of $0.5935 by July 17, marking an 89% increase in four days.1INCH price – July 18 | Source: Trading ViewWithin this timeframe, 1INCH experienced a significant increase in trade volume due to a surge in investor interest in capitalizing on the rally. Notably, the token became the second-most traded asset on Upbit, South Korea’s largest exchange, on July 17.According to trackers, on July 17, 1INCH’s 24-hour trade volume stood at $112.5 million. However, the market-wide run saw the upward momentum fall.Bears forced 1INCH lower to $0.4029, a 6.16% correction from $0.5935 posted on July 17. These losses spilled over, triggering even more losses on July 18.This article was originally published on Crypto.news More

A shareholder complaint against Fred Thiel and nine other Marathon executives was filed in the United States District Court for the District of Nevada on July 8. The company executives are being sued on the basis of five claims. Among them are violations of the U.S. Securities Exchange Act, a breach of fiduciary duties, unjust enrichment and wasting corporate assets. Continue Reading on Coin Telegraph More

Jordi Baylina, technical lead of Polygon Hermez zkEVM, spoke to Cointelegraph ahead of the start of EthCC in France. With builders from across the Ethereum ecosystem converging on Paris, zero-knowledge proof (ZK-proof) scaling tools are set to be a major focal point. Continue Reading on Coin Telegraph More

On July 17, the Celsius Network’s debtors submitted a filing stating that its Series B holders have agreed on a settlement to distribute $25 million from the proceeds of GK8’s sale.Continue Reading on Coin Telegraph More

On July 17, the Financial Conduct Authority (FCA) released a proposed guidance on social media financial promotions that targets promotional memes and financial influencers — “finfluencers.”Continue Reading on Coin Telegraph More

Thodex was once one of the biggest crypto exchanges in Türkiye before it suddenly shut down, and Özer fled to Albania. Following a Red Notice by Interpol, Özer was deported back to Türkiye to be held responsible for the investors’ roughly $2 billion worth of cryptocurrencies.Continue Reading on Coin Telegraph More

The broader cryptocurrency market gained $70 billion in less than five hours after a US judge ruled in favor of Ripple and XRP on July 13. The Bitcoin price rose to $30,800 on July 13 but fell below $30,000 twice in the past week, dropping to as low as $29,685 on July 17.Data from CryptoQuant suggests that the consolidation at around $30,000 may be due to mixed factors, including short-term holders (STHs), miners, and volatility.Since April, the supply of STHs has gradually decreased, with sudden hikes at some bullish points. Overall, they have been selling less, which could significantly decrease bitcoin’s selling pressure.Meanwhile, miners have been actively selling their diggings as the next halving event gets closer, estimated to take place in April 2024.Amid this development, Bitcoin’s volatility has been falling over the past four months while the number of Bitcoin exchange deposits fell to a one-month low, according to data provided by Glassnode.At the time of writing, Bitcoin is trading at $30,020, down by 0.8% over the past 24 hours. However, its 24-hour trading volume has increased by almost 70%, reaching $13.84 billion, while the market cap remains below $584 billion.BTC price – July 18 | Source: Trading ViewThe increase in Bitcoin’s trading activity may indicate a temporary price surge. A report from July 17 suggests that the rise of long-term BTC holders could support prices in future sessions.This article was originally published on Crypto.news More

Ripple has recently been in the limelight due to a historic court ruling in its favor against the U.S. Securities and Exchange Commission (SEC). This verdict led to XRP’s relisting on major cryptocurrency exchanges, and a subsequent surge in demand and trading volume followed suit. The XRP token has experienced an impressive rally, seeing a gain of around 65% in its price.However, it is worth noting that XRP has lost about 20% of its value since reaching its recent peak. Despite this drawback, the overall momentum for XRP remains positive. The uptick in trading volume suggests increased interest and activity around the token, likely driven by the court victory and relisting on various platforms.Meanwhile, Bitcoin, the original cryptocurrency and traditionally the most traded digital asset, seems to have stalled. Despite numerous attempts, Bitcoin has struggled to break away from the $30,000 threshold. While Bitcoin remains a key player on the cryptocurrency market, the surge in XRP trading volume has momentarily overshadowed its dominance.The increase in trading volume compared to Bitcoin’s is a clear indication of the impact of legal and regulatory decisions on cryptocurrency markets. It underscores the potential volatility and rapid shifts that can occur in response to such events.While XRP’s recent surge in trading volume has led it to outpace Bitcoin momentarily, it is still unknown if this trend will continue. Factors such as market sentiment, regulatory developments and broader economic factors all play a role in determining trading volumes.This article was originally published on U.Today More