Institutional investors seem to be booking profits due to the macro uncertainty. CoinShares’ Digital Asset Fund Flows Report shows a total outflow of $200 million from digital asset investment products in the past four weeks.Continue Reading on Coin Telegraph More
Messari, a crypto market intelligence platform, tweeted a growth comparison between Pepe (PEPE) and Shiba Inu (SHIB) earlier today. In the post, Messari revealed that the market value per holder for PEPE is currently displaying a similar, but accelerated, growth pattern compared to that of SHIB.At press time, SHIB’s market cap was estimated to be $5,127,578,039, ranking it as the second biggest meme coin. Meanwhile, PEPE was ranked one position lower at third, with a collective market cap of $614,841,091. In addition, SHIB was ranked as the 15th biggest crypto project overall and PEPE was ranked at number 67.Although PEPE is experiencing accelerated growth in terms of its market value per holder, the meme coin still has some ground to make up before it can overtake SHIB as the second-largest meme coin. The recent price movements of both cryptos have put this milestone even further out of PEPE’s reach as well.Over the past 24 hours, SHIB’s price had dropped 1.39%. Despite this, it was still able to outperform PEPE, which experienced a 7.07% loss during this same period. As a result, SHIB was trading at $0.000008694 and PEPE was changing hands at $0.000001571. This comes after the total meme coin market cap dropped 0.59% and stood at $17,215,390,025.Both meme coins were also outperformed by the market leaders Bitcoin (BTC) and Ethereum (ETH) in the last 24 hours. At press time, SHIB was down 0.16% against BTC and 0.72% against ETH. PEPE, on the other hand, was down 5.25% against BTC and 5.79% against ETH.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 PEPE Is Outpacing SHIB in Terms of Market Value per Holder appeared first on Coin Edition.See original on CoinEdition More
Altcoin Daily, a YouTube channel run by the brothers Aaron and Austin Arnold, released its new video discussing the havoc over the hardware wallets, namely, the Ledger Wallet and the Trezor wallet.On May 16, Ledger announced its new update, Ledger Recover, a retrieval solution for its hardware crypto wallets, claiming that the new feature intends to safeguard the users if they misplace their seed phrase:Following the announcement, several ledger wallet owners popped up with their discontent with the wallet’s novel feature. For instance, the DeFi and NFT founder foobar, came forward with stark criticism against Ledger wallets, quoting:Foobar’s severe comments came immediately after the Ledger co-founder’s response to an individual’s question about whether there is a “backdoor” for the recovery feature; the response was that there are no such backdoors which made the Ledger users “feel betrayed”.Foobar added that “a hardware wallet should have a secure enclave where the private key never leaves the device, under any circumstances”, a comment described by Altcoin Daily as a “hyperbole”. Altcoin Daily asserted that the new feature would be helpful for at least some of the community members.Altcoin Daily also addressed the chaos regarding the Trezor wallet following its announcement of the implementation of CoinJoin, a Bitcoin privacy technology, in collaboration with Wasabi Wallet.The crypto community pointed out the censorship concerns surrounding the update. For example, the host of the Proof of the Decentralized Podcast Chris Blec tweeted that the tool would block BTC transactions.The video concluded by suggesting the crypto community remains calm for a few days before drawing conclusions about the severity of the hardware wallet controversies. The host added that he would be doing the same.The post Ledger Wallet and Trezor Wallet Criticized Over New Features appeared first on Coin Edition.See original on CoinEdition More
Former Coinbase (NASDAQ:COIN) CTO Balaji Srinivasan has taken to Twitter to argue the diminishing power of regulatory bodies, particularly the Securities and Exchange Commission (SEC), in the ever-evolving crypto landscape.In his analysis, Srinivasan contended that the regulatory state’s authority is faltering as it struggles to adapt to the decentralized nature of cryptocurrencies. He noted that regulatory agencies historically thrived on instilling fear and compliance, causing companies to crumble under their weight. However, the dynamics have shifted, according to the Coinbase CTO.Srinivasan points out several factors that have weakened the SEC’s hold on the crypto industry. Firstly, he said the regulatory infrastructure was built to oversee centralized entities, not the vast number of individual crypto holders and decentralized projects present today.Secondly, Srinivasan highlighted that the expertise gap between regulators and industry participants has widened. He expressed that this lack of domain knowledge hampers the regulator’s ability to regulate the sector effectively.Srinivasan concludes that while the state continues to fight, it will likely consolidate power over fewer people through harsh crypto regulations. However, he emphasizes that while compliance with crypto laws may be observed in progressive states, most individuals and businesses are actively expected to disregard the rules.The post SEC Power Wanes as Crypto Challenges Regulatory State: Ex Coinbase CTO appeared first on Coin Edition.See original on CoinEdition More
Ledger Recover is a subscription service that allows users to utilize an additional layer of protection for their private keys. This service employs a technique where the user’s seed phrase is divided into three encrypted fragments, each sent to different external entities. Once these fragments are combined and decrypted, they can be used to reconstruct the original seed phrase. Continue Reading on Coin Telegraph More
On May 16, the investment firm submitted a new application for a Bitcoin (BTC) futures-based ETF to be listed on the Nasdaq with the ticker symbol “BTFD.“Continue Reading on Coin Telegraph More
Software engineer Dan Revah flagged the exploit in a blog post on May 15, outlining the method allowing him to gain local privilege escalation to access a macOS user’s camera through permissions previously granted to an installed Telegram application.Continue Reading on Coin Telegraph More
The crypto trader and analyst Altcoin Sherpa shared his latest technical analysis for Bitcoin (BTC) and Ethereum (ETH) in a tweet yesterday. In his analysis, he predicted that there will be a large amount of volatility for both of the crypto market leaders in the short term. The trader also mentioned that no clear trend has been established on either crypto’s charts.Altcoin Sherpa then went on to state that a key level on BTC’s daily chart will be the $26.5K mark. Altcoin Sherpa’s reasoning behind this is due to the fact that the leading crypto’s price was always able to close above this price point just hours after it had dipped below the level in the past 2 months.For the medium term, the trader did not rule out the possibility of BTC’s price reaching $29K. On the other hand, he still predicted that there could be a drop towards $25K later this year. He was unable to clarify when and how this drop in BTC’s price would happen.BTC/USD daily chart (Source: TradingView)To justify his downside target of $25K, Altcoin Sherpa added that the level has a lot of confluence to it. Firstly, $25K has been a key support and resistance level over the past few months, according to the trader. Furthermore, $25K is also the level at which the 200-day EMA line and the 0.382 Fibonacci Retracement Level currently lie.In his video, he mentioned that his bearish thesis will be invalidated if BTC’s price continues to hover above $26.5K for the next few weeks before entering into another move up. Should this happen, the trader believes that BTC could rise up back to the $30K level.ETH/USD daily chart (Source: TradingView)In terms of ETH, Altcoin Sherpa forecasted that the leading altcoin’s price movement will display a similar pattern to that of BTC’s in the next couple of months. He also identified $1,700 as a key support and resistance level to watch.The trader concluded that ETH’s charts “look good” overall, but he also noted that ETH may be outperformed by BTC in the medium to long term. Nevertheless, he bullishly added that there may come a day where ETH trades at $10K if it begins to trend again.At press time, CoinMarketCap indicated that both BTC and ETH printed losses over the past 24 hours. The price of BTC stood at $26,860.50 following a 1.41% drop during this period. Meanwhile, ETH was trading at $1,809.04 after its price dropped 0.74%.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 BTC Could Drop to $25K and ETH Could Climb to $10K, Says Trader appeared first on Coin Edition.See original on CoinEdition More
