Expectations for the crypto industry are still high, and altcoins, in particular, are expected to do well. One crypto analyst known as El Crypto Prof on X (formerly Twitter), shares this sentiment, expecting the altcoin market to go on a parabolic rally. Altcoins Are Set To Explode In a post on X (formerly Twitter), the crypto analyst highlighted why the altcoins market was said to explode. The chart attached to the post showed previous bull cycles for the crypto market and why the current muted performance from the market was normal. Related Reading: Bitcoin Daily Transactions Just Hit A New ATH – What’s Driving It? For example, back in 2016, the crypto market went into accumulation mode after the Bitcoin halving, where altcoins stalled for a while before picking up. The same was the case in 2020 as well following the Bitcoin halving, with accumulation dominating the market for a…> Open article in new tab
Following the fourth Bitcoin Halving, Rekt Capital, a popular cryptocurrency trader and expert, has offered a compelling narrative on the future trajectory of Bitcoin, predicting that the crypto asset could peak this bull cycle in the following year. Rekt Capital’s analysis emphasizes on the possibility that this current cycle could reiterate past Halving cycle trends, positioning BTC for significant gains in the coming months. Bitcoin Could Mirror Past Halving Cycle According to the analyst, Bitcoin reached its all-time high within 518 days following the Halving in the 2015–2017 cycle. Meanwhile, after the event in the 2019-2021 bull cycle, the digital asset topped out within 546 days. This suggests that the event has always catalyzed massive growth for the leading cryptocurrency asset. Related Reading: Legendary Trader Predicts When Bitcoin’s Bull Run Will End Should the past trend hold, the next bull market top might happen between 518 and 546 days following…> Open article in new tab
The biggest risk factors in the new era of decentralized finance may be economic, not technical, says Jesus Rodriguez, CEO of IntoTheBlock.> Open article in new tab
Ethereum, the world’s second-largest cryptocurrency by market capitalization, has seen a dramatic drop in transaction fees, according to a recent analysis by Santiment, a prominent crypto analytics platform. Related Reading: Polygon In Peril: Will MATIC Bounce Back Or Stay Stuck In The Sub-$1 Doldrums? The report indicates that the average Ethereum transaction fee has plunged to a mere $1.12, marking the lowest daily average cost since October 18th, 2023. Ethereum Transaction Fees: A Window Into Market Sentiment This significant decrease in transaction fees has sparked discussions among crypto enthusiasts and analysts alike. Santiment’s analysis suggests a strong correlation between transaction fees and the overall sentiment within the cryptocurrency market. The analysis highlights that periods of exuberance, often characterized by the “to the moon” narrative and a belief in exponential price gains, tend to coincide with higher transaction fees. Conversely, during market downturns dominated by pessimism, transaction fees typically fall. 🤑…> Open article in new tab
Also, the CFTC wants to bar Americans from betting on elections – even though it’s already illegal in most U.S. states.> Open article in new tab
The Bitcoin price movement in the past few days after the halving event has left many investors wanting. Particularly, price data shows the crypto failed to settle above $65,000 las week. At the time of writing, Bitcoin is trading at $62,105, down by 2.96% and 6.14% in the past 24 hours and seven days, respectively. According to a CryptoQuant analyst, Bitcoin’s Adjusted Spent Output Profit Ratio (aSOPR) is still looking bullish, which could be a faint signal of the crypto’s price reversing into bullish momentum. Current State Of Bitcoin As it stands, the price of Bitcoin might be on the way to registering a new monthly low with the risks of more downside below $62,000. A recent analysis during the weekend by Phi Deltalytics, an analyst at CryptoQuant, noted that Bitcoin’s price trajectory is showing indecisiveness in the short term. His analysis is based upon the SOPR ratio, one of…> Open article in new tab
Financial nihilism is a common philosophy in Web3 but, ultimately, there’s no way to build long-lasting value without finding real customers for real products and services that solve actual problems, says Lex Sokolin.> Open article in new tab
The Lummis-Gillibrand stablecoin bill subordinates state regulation to federal control, giving Washington too much power as to which entities can issue these important digital assets, say Jack Solowey and Jennifer J. Schulp at the Cato Institute.> Open article in new tab
Former Binance CEO Changpeng “CZ” Zhao now faces the genuine possibility that he’ll spend three years in federal prison in the U.S. – well above the possible 18 months laid out in his plea agreement.> Open article in new tab
The latest price moves in bitcoin (BTC) and crypto markets in context for April 29, 2024. First Mover is CoinDesk’s daily newsletter that contextualizes the latest actions in the crypto markets.> Open article in new tab
The investment will fund the roll-out and commercialization of the company’s medical devices.> Open article in new tab
More than 160 of Changpeng “CZ” Zhao’s loved ones, friends and colleagues have written to a Washington judge ahead of the Binance founder and former CEO’s sentencing tomorrow, asking for leniency and painting a picture of Zhao as a devoted father and friend, and a “geeky” tech nerd who shuns luxury purchases despite his immense personal wealth.> Open article in new tab
In a recent analysis, veteran trader Peter Brandt delved into the price behavior of Bitcoin, suggesting that the cryptocurrency might have reached its peak for the current cycle. According to Brandt, Bitcoin is exhibiting signs of “Exponential Decay,” indicating a weakening in the momentum of its bull market cycles over the years. “Does history make a case that Bitcoin has topped? It’s called Exponential Decay — and it describes Bitcoin,” Brandt wrote. He further explained, “The fact is that the bull market cycles in Bitcoin have lost a tremendous amount of thrust over the years… I don’t like the Exponential Decay occurring in Bitcoin — Bitcoin is one of my personal largest investment positions.” Brandt provided a historical breakdown of Bitcoin’s bull cycles, noting a consistent decrease in the magnitude of gains: The bull cycle from December 21, 2009, to June 6, 2011, demonstrated a staggering 3,191X advance. The subsequent…> Open article in new tab
The Japanese yen swung wildly on Monday, recovering 500 pips from over three-decade lows on suspected BOJ intervention.> Open article in new tab
Polygon (MATIC), the high-speed scaling solution for Ethereum, has been on a rollercoaster ride this month. After a brutal price correction that saw MATIC tumble over 20%, a recent 24-hour surge has injected a dose of optimism into the market. But is this a sign of a full recovery, or a temporary reprieve before further decline? Related Reading: XRP Sees Over $12 Million Sell-Off: Whale Warning Or Buying Opportunity? Polygon’s Price Plunge: A Reality Check CoinMarketCap data paints a sobering picture. MATIC has been steadily dropping down the ranks of the top 20 cryptocurrencies, currently sitting at number 18. This decline coincides with a significant price drop, with MATIC losing over a quarter of its value in the last 30 days. Analysts like World of Charts point to the descending channel pattern on MATIC’s daily chart, a classic indicator of a bearish trend. For a true price recovery, MATIC needs…> Open article in new tab
Investment platforms will take some time to establish the necessary compliance framework to sell bitcoin ETF products, the report said.> Open article in new tab
The once-booming cryptocurrency XRP, championed by Ripple Labs, finds itself precariously perched on a stormy sea of uncertainty. Recent weeks have been a tempestuous voyage for the digital asset, rocked by a confluence of challenges: regulatory scrutiny, dwindling investor confidence, and now, the ominous exodus of major whales. Related Reading: Render Revving Up: Analyst Predicts Potential Climb To $16 XRP Whale Exodus Sparks Fear These “whales,” the deep-pocketed investors holding vast quantities of XRP, have begun executing sizable sell orders, sending tremors through the market. On-chain data reveals a colossal transfer exceeding 24 million units, valued at slightly over $12 million, departing from the Bitvavo exchange and vanishing into an anonymous wallet. Such sizeable movements are often interpreted as a bearish signal, signifying a potential lack of faith among these influential investors and casting a dark cloud over XRP’s immediate future. Source: Whale Alert/X XRP Price Takes A Tumble The…> Open article in new tab
U.S citizens residing abroad are also banned from using the service> Open article in new tab
Crypto analyst Josh Olszewicz is once again warning of a looming Dogecoin price crash. The analysis hinges on the Ichimoku Cloud, a comprehensive indicator that provides information on support/resistance levels, momentum, and trend direction. Olszewicz’s analysis points to two specific technical phenomena on the 1-day (1D) chart of DOGE against the US dollar (DOGE/USD). Via X, he remarked “1D DOGE: bearish TK cross + bearish Kumo breakout. Bearish Signals For Dogecoin The bearish TK cross refers to the bearish crossover between the Tenkan-Sen (conversion line) and the Kijun-Sen (baseline) within the Ichimoku Cloud system. The Tenkan-Sen, which is a faster-moving line typically calculated as the midpoint of the highest high and lowest low over the last nine periods, crossing below the Kijun-Sen, a slower line computed as the midpoint of the highest high and the lowest low over the past 26 periods, is considered a bearish signal. It suggests that short-term…> Open article in new tab
Brandt’s latest view is based on a statistics concept called “exponential decay.”> Open article in new tab
South Africa’s upcoming election isn’t expected to derail the country’s agenda for digital assets, several members of the crypto community told CoinDesk.> Open article in new tab
The Australian Securities Exchange (ASX), which accounts for 90% of Australia’s equity market, is expected to approve the first spot-Bitcoin {BTC} exchange traded funds (ETFs) before the end of 2024, Bloomberg has reported, citing people familiar with the matter.> Open article in new tab
FBI Computer Analysis and Response Team agents first found the material during a search of Eisenberg’s devices in January 2023> Open article in new tab
With MiCA stablecoin rules taking effect in June, CoinDesk reached out to regulators in all 27 EU member states to show where countries are at with implementation.> Open article in new tab
Cardano (ADA) is moving lower below the $0.500 resistance zone. ADA could gain bearish momentum and decline if it stays below the 100 SMA (H4). ADA price is slowly moving lower from the $0.520 zone. The price is trading below $0.500 and the 100 simple moving average (4 hours). There is a key bearish trend line forming with resistance at $0.4740 on the 4-hour chart of the ADA/USD pair (data source from Kraken). The pair could attempt a fresh increase if the bulls remain active above the $0.4280 support. Cardano Price Faces Key Hurdles In the past few days, Cardano saw a steady decline from the $0.520 resistance zone, like Bitcoin and Ethereum. ADA price declined below the $0.500 and $0.4950 levels to enter a bearish zone. There was a move below the 50% Fib retracement level of the upward move from the $0.4000 swing low to the $0.5201 high.…> Open article in new tab
The crypto market is balancing the threat of stagflation against a liquidity injection from the Treasury General Account (TGA), and the launch of Hong Kong’s bitcoin ETFs.> Open article in new tab
Ethereum price rallied above the $3,300 level. ETH tested the $3,350 resistance and recently started a sharp decline below $3,300. Ethereum rallied toward $3,350 before the bears appeared again. The price is trading below $3,220 and the 100-hourly Simple Moving Average. There was a break below a key bullish trend line with support at $3,250 on the hourly chart of ETH/USD (data feed via Kraken). The pair could continue to move down if it trades below the $3,165 support. Ethereum Price Trims Gains Ethereum price started a strong increase above the $3,200 level. ETH outperformed Bitcoin and even cleared the $3,300 resistance. However, the bears were active near the $3,350 level. A high was formed at $3,355 and the price started a fresh decline. There was a sharp move below the $3,300 level. The price declined below the 50% Fib retracement level of the upward move from the $3,070 swing…> Open article in new tab
Liberal Democratic Party leader and Prime Minister Fumio Kishida once called Web3 a “new form of capitalism,” but he faces a party leadership election in September.> Open article in new tab
The U.S. Department of Justice rebuffed Roman Storm’s motion to dismiss criminal charges against him late Friday.> Open article in new tab
The yen’s volatile episode may spread to other fiat currencies as U.S. rate cuts remain elusive amid sticky inflation, which could drive investors to gold and bitcoin, Noelle Acheson said in an interview.> Open article in new tab
Lawyer-turned-politician John Deaton further reinforced his credentials as an outspoken crypto ally on Friday, filing a friend-of-the-court brief in Coinbase Inc.’s (COIN) effort to get a higher U.S. court to rule on a central question about when a digital token qualifies as a security.> Open article in new tab
Custodia, a Wyoming-based aspiring crypto bank, filed a notice of appeal against a court ruling that affirmed the Federal Reserve’s rejection of its bid for a master account and membership.> Open article in new tab
Leading crypto critic U.S. Sen. Elizabeth Warren (D-Mass.) has asked U.S. Attorney General Merrick Garland what tools the federal government needs to crack down on the use of digital assets to perpetrate child sexual exploitation, according to a letter she sent to the top U.S. law-enforcement official.> Open article in new tab
Community protocol networks that coordinate hardware-based services with tokens promise an upgrade in efficiency and fairness, says Ivo Entchev, a partner at Youbi Capital.> Open article in new tab
The latest price moves in bitcoin (BTC) and crypto markets in context for April 26, 2024. First Mover is CoinDesk’s daily newsletter that contextualizes the latest actions in the crypto markets.> Open article in new tab
The startup is one of the first to build tokenized tech for Bitcoin’s Runes era.> Open article in new tab
The new laws set up “enhanced” due diligence and customer checks for crypto firms.> Open article in new tab
The investment firm sold 237,983 BITO shares worth $6.7 million at Thursday’s closing price of $28.22 from its Next Generation Internet ETF (ARKW).> Open article in new tab
Yao Qian is reportedly being investigated for “violations of discipline and law.”> Open article in new tab
BTC Stable Above $64K While ETF Outflows Hit $200 Million> Open article in new tab
New powers that will help law enforcement agencies seize crypto used for crime came into effect on Friday, the U.K Home Office said in a press release.> Open article in new tab
Six years after dropping support for bitcoin and, thus, crypto payments altogether, Stripe is bringing back the service later this summer, though initially only for Circle’s USDC stablecoin.> Open article in new tab
Ethereum developer Consensys has filed a lawsuit against the U.S. Securities and Exchange Commission, striking back against what the company calls an “unlawful seizure of authority” over Ethereum by the federal regulator.> Open article in new tab
The feature helps to expand the utility of the Franklin OnChain U.S. Government Money Fund’s BENJI token and make it more interconnected with the digital asset ecosystem.> Open article in new tab
The author of “Burn Book” says while crypto is important, it’s not the center of everything.> Open article in new tab
The pool mined the first block after last week’s halving, winning an “epic” sat in the process.> Open article in new tab
The professionalization of crypto is here, whether it’s tokenized securities, crypto-forward financial products from the world’s largest asset managers or platforms that help financial advisors access this new market directly.> Open article in new tab
Co-founders Keonne Rodriguez and William Lonergan Hill are charged with money laundering related to the privacy-protecting wallet.> Open article in new tab
Movement’s 21 and 24-year-old co-founders say they are on a mission to “make blockchain security sexy” with the launch of their L2.> Open article in new tab
Increasing concerns about sticky inflation hit risk assets across all markets including cryptos.> Open article in new tab
Employment contracts that stop free movement of labor conflict with an innovative industry’s open-source ethos, says Linda Jeng, CEO of Digital Self Labs, a Web3 advisory firm.> Open article in new tab
The chains’ users will be able to opt in or out to use Avail for data availability, to stash the reams of data produced for all their transactions taking place.> Open article in new tab
The latest price moves in bitcoin (BTC) and crypto markets in context for April 25, 2024. First Mover is CoinDesk’s daily newsletter that contextualizes the latest actions in the crypto markets.> Open article in new tab
The fundraise was led by Hack VC and included contributions from DAO5, L2Iterative, NomadCapital_io, FinalityCap, Symbolic VC and Theta Capital.> Open article in new tab
Igbara perpetrated multiple fraud schemes and scammed investors of at least $8 million.> Open article in new tab
U.S. House Representative Maxine Waters (D-California), the top Democrat on the House Financial Services Committee, told Bloomberg Wednesday “We are on our way to getting a stablecoin bill in the short run.”> Open article in new tab