Subversive Capital is set to shut down and liquidate its Subversive Metaverse ETF, known by its “PUNK,” ticker, as the company shifts its focus toward artificial intelligence (AI).Continue Reading on Coin Telegraph More
On May 17, U.S. President Joe Biden expressed his confidence in ending the standoff with Republicans to avoid a default, which boosted market sentiment. Bitcoin rose 1.5% thereafter, reaching over $27,400 on the day.Continue Reading on Coin Telegraph More
Leading enterprise Layer 1 blockchain company, Vechain, has applauded Europe’s regulatory clarity over cryptocurrencies. The blockchain company considers itself one of the great beneficiaries of the enhanced clarity of established crypto rules.VeChain stated its position after the European Council adopted the world’s first comprehensive set of rules from crypto assets regulation, MiCA. The Council’s new rules seek to protect investors by requiring crypto firms to be authorized by the European Union (EU). The authorization will allow them to serve customers in a bloc and to comply with anti-money laundering and anti-terrorism financing rules.Before they passed it on Tuesday, May 16, 2023, EU member states and the parliament already approved MiCA. The impact of this approval resulted in the influx of VC investment into European projects. From 5.9% in Q1, 2023, VC investment into European projects soared to 47.6% in Q2.VeChain sees MiCA’s approval and final adoption as a significant milestone in the blockchain industry’s development. It will improve the confidence level of investors, knowing the law protects them, and encourage more investments into the system.According to reports, VeChain hopes to secure a sizable portion of the VC investments, considering its status as one of the top blockchain companies in the European region. The report claimed that traders will become more confident in holding VeChain’s native token VET, anticipating that VC inflows into the network will increase.On-chain data shows that the development activity level has reached its highest level in four weeks. However, investor sentiment has not followed the same pattern, and VET’s on-chain volume is yet to be affected by the latest positive vibe in the VeChain ecosystem.From traders’ perspective, VET’s price could benefit from the ability of VeChain to attract investors. That could be more probable in the long term, even though MiCA’s adoption by the European Council could support investor confidence and trigger some demand.The post VeChain Anticipates Increased VC Investment After MiCA Approval appeared first on Coin Edition.See original on CoinEdition More
In a blog post published on May 16, the company announced the addition of Polygon (MATIC), USD Coin (USDC) and Dai (DAI) to Crypto.com Pay, a fiat-to-crypto on-ramp service enabling the purchase of cryptocurrency via credit or debit card. Continue Reading on Coin Telegraph More
Renowned crypto lawyer John Deaton has taken to Twitter to question a claim from the U.S. Department of Justice (DOJ) that crypto crime has ‘skyrocketed’ in the last four years. Deaton expressed skepticism and demanded evidence to support the assertion.The lawyer’s statement came in response to a tweet from crypto influencer Keyur Rohit, who quoted DOJ’s head of crypto enforcement, Eun Young Choi, saying that the agency is “laser-focused” on targeting crypto exchanges that enable criminals to profit and cash out easily.In his tweet, Deaton asked for proof of the DOJ’s claims, pointing out that the agency has a history of making unsubstantiated claims about crypto crime. He also noted that the DOJ has yet to release any data on the amount of crypto crime that has occurred in recent years.“At this point, when someone in this administration claims anything related to crypto, I want to see proof,” the crypto lawyer argued.In a recent interview with the Financial Times, Choi discussed the DOJ’s intensified focus on combating illicit behavior in crypto, particularly targeting exchanges that facilitate criminal activities. Choi emphasized the need for strict compliance and risk mitigation measures, pledging to end alleged the rise in crypto-related crimes.However, the crackdown does not stop at exchanges alone. Crypto influencer Rohit tweeted that the National Cryptocurrency Enforcement Team (NCET) is intensifying its efforts to combat crypto investment scams under Choi’s guidance.Choi exposed the sinister nature of such schemes, known as “pig butchering,” where fraudsters employ long-term relationships to gain the victim’s trust. The NCET has recently dismantled six such scams and recovered a staggering $112 million.The post Lawyer Contests DOJ Skyrocketing Crypto Crime Claim, Demands Evidence appeared first on Coin Edition.See original on CoinEdition More
The crypto trader and analyst Dan Gambardello shared in his latest analysis that a downside target of $24K may still be reached by Bitcoin (BTC) in the next few weeks. Although he added that he cannot fully guarantee this will happen, he stated that from a macro perspective, it makes sense to predict a drop to this level in the near future.In the video, Gambardello also mentioned Tether’s recent announcement that it will purchase BTC with up to 15% of the company’s profits. The trader labeled this development as an overall positive sign for the crypto space. Despite this, BTC’s price recently dropped back down into a long-term channel, which was established back in November last year.4-hour chart for BTC/USDT (Source: TradingView)The trader warned that BTC’s price will need to break out of this channel soon to avoid a drop to $24K. Should BTC’s price successfully break out of the channel in time, according to Gambardello, then it will look to climb to $33.5K in the next few months. On its path toward $33.5K, however, BTC will first need to flip the 20-day and 50-day EMA lines into support.At press time, BTC was trading at $27,361.08 following a 1.92% increase in the past 24 hours. The market leader was also able to strengthen against its biggest competitor, Ethereum (ETH), by 0.83% during this time period.In tandem with the price increase, BTC also saw an increase in its daily trading volume over the last day. As a result, the total daily trading volume for BTC stood at approximately $14.9 billion.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 Crypto Trader Warns BTC’s Price Could Drop Down to $24K appeared first on Coin Edition.See original on CoinEdition More
A $1 billion all-cash settlement was granted preliminary approval by United States district judge Gregory Woods in a Manhattan federal court. Another hearing will be held on Sept. 8 for final approval. Continue Reading on Coin Telegraph More
The latest Litecoin rally could continue for another 40 days, according to a cryptocurrency trader with Twitter identity Bluntz (@Bluntz_Capital). Bluntz’s prediction stems from historical Litecoin’s price behavior ahead of the last two halving events.Analytical data shared by Bluntz shows that both times the LTC price made significant gains until about 50 days before the halving event. In 2019 especially, the price climbed by more than 300% before staging a pullback.Litecoin halving is an event programmed into the Litecoin protocol that reduces the block reward earned by miners for verifying transactions on the Litecoin network. The event happens every four years, and the block reward gets reduced by half. The expected date for the next Litecoin halving is July 26, 2023.Another trader with the Twitter identity “The Wolf” (@WolfOfPoloniex) was more bullish in his prediction of a significant Litecoin rally. According to him, the party is just getting started.The Wolf shared the screenshot of a chart analysis where he expects the LTC price to respect the upward trendline supporting its current trend. He predicts the price will break through the LTC yearly high of $105.69 and climb above $190 before the next halving event.Litecoin’s price trend has been sideways for most of 2023. An initial price surge pushed the price from $70.1 to the yearly high of $105.69 in the first quarter. Before the end of March 2023, the LTC lost all the gains and registered a low of $65.39, according to data from TradingView.Since achieving the yearly low, LTC’s price has trended between these two crucial levels, settling at $92.49 at the time of writing. Many of the LTC community members on Crypto Twitter agree with the traders’ predictions of a significant rally ahead of the halving event, with some of them sharing their independent analysis.Disclaimer: The views and opinions, as well as all the information shared in this price prediction, are published in good faith. Readers must do their 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 Litecoin to Rally for 40 More Days, Would Surpass $190 – Trader appeared first on Coin Edition.See original on CoinEdition More
