The brothers were accused of using knowledge of “at least” nine crypto assets that would be listed on Coinbase in the future to purchase before listing. The SEC filed suit against them on July 21, 2022. That agency is now demanding disgorgement of ill-gotten gains with interest.Continue Reading on Coin Telegraph More
In a recent video, crypto analyst and trader Dan Gambardello expressed his long-standing belief in Cardano’s (ADA) potential for mass adoption. The analyst was always vocal about Cardano’s future prospects as a value investor, envisioning a time when the blockchain platform would boast a solid infrastructure that was secure, scalable, and decentralized.Now, it seems that time may have arrived, according to Gambardello, as he detects the rumblings of a stampede heading toward Cardano. He explained that the unexpected catalyst for this newfound attention on Cardano comes from meme coins.The video highlighted a tweet from a well-known altcoin enthusiast, who expressed interest in Cardano wallets and ultimately invested $3,000 in a meme coin called SNACK. The crypto analyst believed this incident exemplified the recent surge of interest and adoption Cardano has been experiencing.Looking forward, Gambardello speculated on the potential impact of the ongoing adoption wave. He pointed out that as more people explore Cardano due to the buzz surrounding meme coins, they may discover the platform’s advantages over other chains, such as its enhanced security, decentralization, and user-friendly experience.While the analyst acknowledges that there are no guarantees in the volatile world of cryptocurrencies, he expressed enthusiasm for the current momentum building around Cardano. He also stated that Cardano was finally proving its potential and entering a new phase, the DeFi phase, where all coins launching on the platform could experience rapid growth.Towards the end of the video, Gambardello briefly discussed potential scenarios for ADA’s price action, noting the possibility of both a bullish breakout and a consolidation phase. He also drew parallels between the current consolidation period and the previous Bitcoin halving cycles.This led him to predict that sideways movement and choppy price action could be expected until the 2024 Bitcoin halving event. Nevertheless, Gambardello remained optimistic about Cardano’s long-term prospects.Disclaimer: The views and opinions, as well as all the information shared in this price analysis, are published in good faith. Readers must do their own research and due diligence. Any action taken by the reader is strictly at their own risk. Coin Edition and its affiliates will not be held liable for any direct or indirect damage or loss.The post Analyst Predicts a Mass Stampede of ADA Adoption Is Imminent appeared first on Coin Edition.See original on CoinEdition More
On May 31, 386 million OP tokens will be unlocked for early contributors and investors. The amount of tokens that will be released into the market accounts for 9% of the total supply. The tokens are worth around $587 million and are expected to increase the circulating supply by over 100%. Continue Reading on Coin Telegraph More
Analysis platform Lookonchain shared in a Twitter post earlier this morning that the blockchain building company Hashed recently transferred millions of The Sandbox (SAND) tokens to an exchange. According to the post, the company sent a deposit of 23.13 million SAND, equivalent to $12.9 million to Binance.Meanwhile, SAND was worth about $0.5506 at press time after the crypto experienced a 1.01% price increase over the past day, according to CoinMarketCap. As a result, SAND was trading between its daily high of $0.5598 and its 24-hour low of $0.539.The altcoin’s price increase allowed it to strengthen against the two market leaders, Bitcoin (BTC) and Ethereum (ETH), by about 1.33% and 0.77% respectively. In addition to this, the crypto’s daily performance pushed its weekly performance even further into the green at +6.90%.On the other hand, SAND’s 24-hour trading volume saw a 59.05% decrease, which left it standing at $78,413,698. Its market cap of $1,021,203,767 meant that SAND was ranked as the 43rd biggest crypto in terms of market capitalization.SAND/USDT 1W (Source: TradingView)From a technical perspective, the altcoin’s price movement has been flat for the last several months. At press time, SAND was trading below the 20-week and 50-week EMA lines, which was a bearish flag.However, the shorter 20-week EMA line was looking to cross above the 50-week EMA line. Should this cross happen in the next few weeks, it will signal a long entry for swing traders. In addition to the two key EMA lines looking to cross, the weekly RSI line was also on the verge of bullishly crossing above the weekly RSI SMA line.Disclaimer: The views and opinions, as well as all the information shared in this price analysis, are published in good faith. Readers must do their own research and due diligence. Any action taken by the reader is strictly at their own risk. Coin Edition and its affiliates will not be held liable for any direct or indirect damage or loss.The post Company Sends $12.9 Million Worth of SAND To Binance Exchange appeared first on Coin Edition.See original on CoinEdition More
Justin Bons, founder and CIO of Cyber Capital, has described Bitcoin as “fools’ gold”. According to Bons, the pioneer cryptocurrency has a broken long-term security model and lacks capacity, programmability, and composability. He further criticized the flagship crypto for having comparatively weak token economics, noting he abandoned BTC in 2017.Bons continued with his BTC criticism by claiming the cryptocurrency has lost its competitive edge in terms of the numerous qualities that attracted early adopters. He noted that other cryptos have overtaken Bitcoin in several areas, including censorship resistance, immutability, decentralization, and self-sovereignty.According to Bons, all the setbacks Bitcoin experienced resulted from the block-size debate a few years ago. He believes not increasing the block-size limit is a departure from the original purpose and vision of Bitcoin. Hence, it has led to several issues that he noted could complicate BTC more.Bons believes the BTC network’s inability to generate sufficient fees within the next decade threatens Bitcoin’s security model. According to him, Bitcoin’s community could have avoided the situation during the block-size debate in 2017. He insists the network made the wrong choices due to governance failure. Hence, the permanent flaws of the BTC network after a couple of years.In Bons’ opinion, BTC has to double in value every four years for the next century or sustain extremely high fees. He believes that is the only way the BTC network can maintain its current security level. However, Bons doubts the possibility of that, considering the growth would exceed global GDP in 33 years based on the current price.Bons noted other fundamental developments he believes have permanently distorted Bitcoin’s original developmental structure.Users expect the opinions that Bons raised to generate some debate among the Bitcoin community. Dunkan McKoy, an investment banker, has already called the attention of Tuur Demeester, Texas Bitcoin Foundation Board member, to Bons’ assertions. No Bitcoin proponent had responded to Bons’ claims at the time of writing.The post Acclaimed Crypto Researcher Says Bitcoin is “Fools Gold” appeared first on Coin Edition.See original on CoinEdition More
Minswap, a decentralized exchange (DEX), has witnessed a notable surge in the past few days, possibly driven by traders seeking profit opportunities within the meme coin market. The popular Cardano-based DEX saw its trading volume surge from $1 million at the beginning of May to more than $18 million on Tuesday.TVL rankings from DefiLlama suggest that Minswap currently has a total value locked of $175.74 million with a dominance of over 37%.A notable portion of the increased transaction volumes on Minswap can be attributed to the popularity of the meme coins Snek (SNEK) and Bank (BANK).According to data from CoinGecko, the prices of these tokens have experienced substantial surges. Notably, Minswap alone recorded a total trading volume of $40 million for these meme coins. SNEK went from a low of $0.00074874 to a high of $0.00111428 at press time in the last 24 hours. It surged by over 34% during this period. The coin has also spiked by over 158% in the last seven days. This surge has also pushed the market cap of SNEK up over $85 million.In a short span of time, SNEK has also emerged as the 8th largest meme coin globally, as shared by the team on Twitter.BANK is no exception, as it has put on a decent show since its all-time low yesterday. BANK has shot up by 36% from its low before falling by 15% in the last 24 hours.Meme coins frequently encounter criticism due to their perceived lack of utility, inherent value, and highly speculative nature, which raises concerns regarding their long-term sustainability. However, proponents argue that meme coins play a role in fostering community engagement.The post Cardano DEX Minswap Sees Surge in Trading Volume Fueled by SNEK, BANK appeared first on Coin Edition.See original on CoinEdition More
According to a report from the South Korean media, the leading crypto exchange Binance has taken part in a “virtual asset exchange working meeting” today, organized by the National Police Agency, in which the agency discussed its plans on a novel system to be implemented in the crypto exchanges.The report published on May 30 declared that the agency has decided to implement a new system in the crypto industry in which investors could verify crypto wallet addresses and put forward requests for freezing funds when needed. The building of the new system is applicable to five major Korean crypto exchanges as well as Binance.It was in February 2023 when Binance returned to the Korean crypto market by investing in the leading South Korean crypto firm GOPAX, which had halted withdrawals in November 2022, as “a consequence of the upstream challenges experienced by Genesis Global Capital, LLC”. Binance cited GOPAX’s commitment to the crypto community as a reason for supporting the company.In October 2022, the police signed agreements with five crypto firms including Upbit, giving rise to the “virtual asset exchange confirmation system”. Under the system, the five major exchanges are to receive information during investigations of crypto wallets.Binance has embraced several strategies to secure its services as well as to prevent fraudulent activities. In March 2023, Binance partnered with law enforcement agencies to create a joint anti-scam campaign. Similarly, the firm froze accounts connected to the North Korean cyber-attack, in an effort to secure funds.The post Binance Co-operating With South Korean Police on Asset Freezing System appeared first on Coin Edition.See original on CoinEdition More
On May 28, U.S. lawmakers released a draft of a bill allowing the government to increase the debt ceiling — an imposed limit on the amount of debt the Treasury Department can incur — following negotiations with President Joe Biden and House Speaker Kevin McCarthy. The legislation still needs congressional approval before taking effect to avoid a seeming economic catastrophe for the U.S. government. Continue Reading on Coin Telegraph More
