Nothing remotely similar happened as Bitcoin (BTC) retested the $25,800 support on May 12, apart from the network congestion and increased transaction fees. Traders and analysts speculated that a coordinated attack was aimed at causing network instability.Continue Reading on Coin Telegraph More
The study, commissioned and reported on by Japanese financial publication Nikkei, looked at losses of cryptocurrency from cyberattacks originating in North Korea from 2017 through 2022. The study took into account both hacking and ransomware attacks. It described the attacks as a “national strategy.”Continue Reading on Coin Telegraph More
The next big question troubling crypto investors is how will Bitcoin react to such an event. Bloomberg’s latest Markets Live Pulse survey indicates that Bitcoin (BTC) could be the third-most preferred asset class behind gold and U.S. Treasurys should the U.S. government fail to prevent a debt default.Continue Reading on Coin Telegraph More
Tether’s (USDT) market capitalization grew from $66 billion to over $82 billion in the first quarter, while Tether shed over 90% of its bank deposits, bringing it down from $5.3 billion to $481 million. Tether said the remaining bank deposits are spread out among several banks, referring to its competitors that suffered losses after recent bank failures.Continue Reading on Coin Telegraph More
In a communique summarizing the discussions, the committee reiterated its support for developing CBDCs with the caveat that further investigation was needed to ensure they are grounded in “transparency, the rule of law, sound economic governance, cyber security and data protection.”Continue Reading on Coin Telegraph More
LunarCrush takes to Twitter to announce that Memecoin PEPE has topped LunarCrush AltRank and has showcased more social activity than Bitcoin (BTC).According to LunarCrush, $PEPE ranked first on LunarCrush Altrank reaching a price of $0.000001903 earlier on Sunday. At press time, LunarCrush AtlRank is at 671st position out of the 4389 coin/token in the market.AltRank is LunarCrush’ parameter that accesses a cryptocurrency’s community and traction and compares that across the entire cryptocurrency marketplace. AltRank is a culmination of metrics which makes a top 25 ranking coin/token attention worthy. The metrics include Market Volume Rank, Social Volume Rank, Percent Change versus Bitcoin Rank, and Social Score Rank.According to LunarCrush’s social dominance 24- hour-graph, $PEPE also projected more social activity than Bitcoin (BTC). $PEPE was valued at $0.000001730 at the time and was endorsed by five top influencers, namely, Ash Crypto, David Gokhshtein, SlumDOGE Millionaire, Crypto Rover, and BSC Gems Alert.LunarCrush determines social dominance as the “share of voice” across all social media data. This is similar to Market dominance; however, instead of dividing a coin’s market cap by the entire cryptocurrency market, Lunarcrush divides a coin’s social volume by the entire cryptocurrency market’s social volume.As per CoinMarketCap, at press time, the memecoin $PEPE is valued at $0.000002 which is a fall of 9.86% in the last 24-hours. $PEPE has a 24-hour trading volume of $433, 228, 314 and has a coinmarketcap ranking of 64. It has a live market cap of $676,842,556 with a circulating supply of 391,790,000,000,000 and maximum supply of 420, 690, 000, 000, 000 PEPE coins.PEPE/USDT 4-hr Chart (Source: Tradingview)Taking into account the memecoin’s behavior in the past four hours, PEPE is seen within the stipulated ranges of the bollinger band and since the width of the bands are constant, PEPE can be expected to move sideways or consolidate.However, when considering the previous bull run that occured from the same price where PEPE is of now, PEPE has the tendency to break Resistance 1 and reach Resistance 2. Hence, if the coin is on a bull run it is expected to test Resistance Level 1 at $0.00000301. If the bulls are strong enough to break Resistance Level 1, PEPEwill move to test Resistance Level 2 at $ 0.0000371.Correspondingly, if the bears overtake the market, PEPE may seek assistance from Support Level 1 at $0.000001109. Furthermore, if the bear’s stranglehold remains the memecoin may break through Support Level 1 and move to test Support Level 2 at $0.000001571.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 PEPE Tops LunarCrush AltRank; More Social Activity Than BTC appeared first on Coin Edition.See original on CoinEdition More
Blockchain insiders speculate that the next crypto market maker will appear in the Middle East. Tarun Chitra and Haseeb Qureshi, managing partners at Robot Ventures and Dragonfly, respectively, and hosts of the Unchained Podcast, speculated about this in a recent episode of their show.Chitra extolled the virtues of the open global market, where departing market makers will always be replaced by new ones.Specifically, Chitra suspects that it will be somewhere in the Middle East. Qureshi agreed with the speculation, pointing out that Binance and Coinbase are currently in the region. “There’s a ton of government incentives also to move [in the Middle East]. So I wouldn’t be surprised if whoever takes over from the US firms retreating is going to be based there,” said Chitra.“The UAE is really serious about courting the crypto industry,” observed Qureshi. He pointed out that the next market maker may be in either Singapore or MENA, which have capital and capital markets. “… but also, they have this view on the space that is very positive. Even in spite of FTX and all the other stuff happening, they believe in the stuff.”The Jane Street and Jump Trading news prompted the discussion for new market makers in the Unchained Podcast. According to recent reports, both Jane Street and Jump Trading were retreating from the American crypto market. This news did not sit well with the crypto community, which blamed the Securities and Exchange Commission (SEC) for its hostile stance toward crypto.The post Next Crypto Market Maker in the Middle East, Blockchain Insiders appeared first on Coin Edition.See original on CoinEdition More
In a recent analysis, Adam Cochran, partner at Cinneamhain Ventures (CEHV), highlights why he remains bullish on cryptocurrencies, particularly Ethereum (ETH), shedding light on the untapped potential of yields in the crypto market.“[Yields are] part of why I think Ethereum (ETH) still has a 20x+ in its future,” Cochran said, arguing that yield returns can be derived from fees rather than inflation, making them non-dilutive.The analyst draws a parallel between the traditional finance market and the crypto space, explaining that historically, the average yield for “risk-free” assets such as US Treasuries has hovered around 4.2% for both the 2-year and 10-year bonds.However, Cochran points out that the financial crisis of 2008 and the subsequent increase in internet adoption and mobile device usage changed the rate regimes, with capital flowing from government bonds to riskier investments.The analyst emphasizes that the yield offered by crypto is contingent upon its perceived risk and the supply and demand dynamics within the market. He also notes that in an inefficient market, the level of awareness among investors regarding yield opportunities plays a crucial role in driving occasional premiums.According to Cochran, another crucial factor in understanding yields is the concept of “pull-forward,” which is the correlation between the yield rate and the price of a bond.Ultimately, Cochran believes that the acceptable risk yields typically range from 2% to 4% in good economic conditions. He envisions a future where assets with a proven safety and yield track record, such as ETH, Synthetix Network Token (SNX), and Curve DAO Token (CRV), attract massive capital influxes.The post Crypto Analyst is Bullish on ETH, Untapped Yield Potential appeared first on Coin Edition.See original on CoinEdition More
