Cryptocurrency

The Discord server of Feet Labs has been compromised, according to the latest reports. The warning was shared by CertiK Alert, a platform that shares on-time alerts regarding crypto scams and hacks.CertiK Alert has warned users to stay vigilant. They also told the users to avoid interacting with any message or announcement from Feet Labs. Details from CertiK show that the scammers have posted a compromised fake airdrop announcement on the Discord server and urged users to claim it as an appreciation reward.At press time, Feet Labs had regained control of the server. CertiK Alert has also shared the details of the phishing URL, asking users to stay away from it.The compromise of Discord servers has been a common method used by scammers. Recently, the server of Syncera was also compromised to promote a fake airdrop. CertiK Alert has also warned users of a recent phishing scam that impersonated Pepe Coin with a fake Twitter account.Cryptocurrencies have gained a lot of popularity in recent years, and scammers have taken notice. One common tactic is to hack Discord servers to spread fake or misleading information to lure users into investing in fraudulent cryptocurrency projects.Another common scam involves fake airdrops, where scammers claim to give away free cryptocurrency. These airdrops are often accompanied by phishing requests for personal information, such as wallet addresses or private keys. Once scammers have access to this information, they can easily steal users’ cryptocurrency.Users should never give out their personal information or send money to anyone they do not trust. If something seems too good to be true, it probably is.The post CertiK Alert: Feet Labs’ Discord Server Breach Detected appeared first on Coin Edition.See original on CoinEdition More

The crypto trader and analyst EGRAG CRYPTO tweeted an update to his Ripple (XRP) analysis this morning. In the post, he focused specifically on the Relative Strength Index (RSI) on XRP’s chart.XRP RSI (Source: Twitter)According to EGRAG CRYPTO, this indicator is providing a clear path in relation to historical data. He questions whether XRP’s price will print a higher high in the near future since the RSI is moving in a similar way to what it did in 2017 before the remittance token’s price had printed a higher high back then.At press time, XRP’s price was trading at $0.4647 after it had achieved a 24-hour gain of 0.47% according to CoinMarketCap. XRP was also up against the two crypto market leaders Bitcoin (BTC) and Ethereum (ETH) by 0.38% and 0.35% respectively.Daily chart for XRP/USDT (Source: TradingView)Technical indicators on XRP’s daily chart suggest that the crypto’s price may not be printing a higher high any time soon. At press time, the 9-day EMA line was looking to cross bearishly below the 50-day EMA line. If this cross happens in the next 24-48 hours, it could spell disaster for XRP’s price and push it down to $0.4191 as a result.In addition to the 9-day and 50-day EMA lines, traders will also want to keep an eye on the nearest support level at $0.4470. A break below this price mark will serve as a confirmation of the bearish thesis. On the other hand, XRP’s price closing above the 50-day EMA line in the next 24-48 hours will result in it climbing to $0.4925 in the next few days.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 XRP May Print a Higher High in the Next Few Days Says Trader appeared first on Coin Edition.See original on CoinEdition More

On April 25, a World Economic Forum (WEF) white paper featured blockchain as a tool to fight climate change. The white paper highlighted the benefits of using blockchains in the climate action community. From improving market transparency to democratizing access to climate action, the WEF wrote about various benefits of using blockchain in sustainability efforts. Continue Reading on Coin Telegraph More

El Salvador has signed a law that eliminates taxes on technological innovations. The initial announcement of the bill was made in March 2023. Nevertheless, El Salvador President Nayib Bukele has shared on Twitter that he signed it into law.According to Bukele, the Innovation and Technology Manufacturing Incentive Act will remove income, property, capital gains, and significant tariffs on technology innovations. This announcement highlights El Salvador’s stance as a favorable location for technology development.In addition, Bukele also mentioned that taxes would be eliminated from software, app programming, AI, computer, and communications hardware manufacturing.The bill, which was introduced in March 2023, was forwarded to Congress with the motive of safeguarding technological developments in the nation. Now that the bill has been signed into law, El Salvador is likely to attract tech firms.In June 2021, El Salvador became the first country in the world to recognize Bitcoin as a legal tender, following the passage of a law introduced by President Nayib Bukele. The law aims to promote financial inclusion and facilitate economic growth in the country.The move has generated significant interest and controversy, with some experts praising the potential benefits of adopting a decentralized digital currency, while others have raised concerns about the risks and uncertainties associated with Bitcoin.Despite the criticism, the government of El Salvador has remained committed to its plan and has taken steps to promote the use of Bitcoin. El Salvador has also stood as an example for countries that are looking to follow in its footsteps in terms of crypto adoption.The post El Salvador Boosts Tech Industry by Removing Taxes on Innovations appeared first on Coin Edition.See original on CoinEdition More

On May 3, the total amount of fees paid on the Bitcoin blockchain reached $3.5 million, jumping about 400% from late April. The average Bitcoin transaction fee reached as much as $7.2, according to YCharts.Continue Reading on Coin Telegraph More

Recently, the Bitcoin Strategy Platform, a leading provider of tools and resources for Bitcoin (BTC) traders, announced the addition of a dedicated macro section to provide users with live access to the Global Liquidity chart.The chart combines the M2 money stock of the top ten largest economies to deliver a comprehensive view of the amount and flow of fiat currency in the global economy. It is also an essential tool for BTC traders because it provides a macro perspective on the Bitcoin market.According to the chart the platform shared with the crypto community on Thursday, the M2 money stock of the top ten largest economies, including Great Britain and the EU, is nearly above $100 trillion.Source: Bitcoin Strategy PlatformWhile the above chart illustrates that the amount of fiat currencies in circulation is increasing, putting downward pressure on their value, it depicts a positive outlook for Bitcoin, a deflationary asset with a limited supply.The graph showed that the price of BTC is expected to exceed $100k after the fourth halving cycle coming up in April next year. Notably, a Bitcoin halving event occurs once in four years when the reward for mining Bitcoin transactions cuts in half, reducing the rate at which new coins go into circulation — positively impacting its price.Early this year, experts consistently argued that the bear market was concluding, urging investors to buy low on time. According to the market tracking platform, CoinMarketCap, Bitcoin crossed the $29K price point this week, having traded in the red in the past few weeks.The post BTC to Cross $100K After 2024 Halving: Global Liquidity Chart appeared first on Coin Edition.See original on CoinEdition More

Among the eight technologies are artificial intelligence, communication and network technologies, biotechnology and semiconductors, with the inclusion of distributed ledger technology (DLT) and digital identity infrastructure grabbing the crypto community’s attention.Continue Reading on Coin Telegraph More

According to digital assets enthusiast Bill Morgan, there is no doubt the US Securities and Exchange Commission (SEC) is trying to stretch the Howey Test in its case against Ripple. Morgan made the statement while acknowledging a submission by John E. Deaton, the Managing Partner of the Deaton Law Firm, to Judge Analisa Torres of the US District Court of the Southern District of New York.Morgan emphasized that even if Judge Torres sidesteps ruling on secondary market spells, people should dispel any doubt on the SEC’s plot. He noted that in the SEC v Bittrex matter, the allegations against Bittrex rested on the characterization of the digital assets involved as being securities, even when sold in the secondary market.Morgan based his stance on Deaton’s submission to Judge Torres, where he noted the SEC’s theory on the case is farfetched. Deaton observed the SEC had asked the court to validate its contention to classify all existing XRP tokens as securities. That includes XRP tokens sold in the secondary market.According to Deaton, the SEC’s Howey argument’s scope has become so stretched that it is indefinable in space or time. He noted the SEC is asking the court to assume private statements made by Ripple employees to a handful of individuals, evidence that Ripple offered XRP to the world.Deaton faulted the SEC’s approach and application of the Howey test. He described it as a shortcut, noting that the regulator assumes every sale of XRP meets all three Howey prongs, making it unnecessary to offer specific transactional evidence.Deaton thinks the Howey test must apply to each transaction, and examined as of the time the transaction took place. According to him, the SEC’s theory would be amusing if it did not harm innocent holders.The post Bill Morgan: The SEC Stretching the Howey Test in Case Vs Ripple appeared first on Coin Edition.See original on CoinEdition More