Author: News Room
XRP price is struggling below $0.620. The price must stay above the $0.5680 support to attempt a fresh increase in the near term. XRP is slowly moving lower from the $0.6620 resistance zone. The price is now trading below $0.620 and the 100 simple moving average (4 hours). There is a major bearish trend line forming with resistance near $0.600 on the 4-hour chart of the XRP/USD pair (data source from Kraken). The pair could gain bearish momentum if there is a close below the $0.5680 support. XRP Price Faces Many Hurdles In the past few sessions, XRP price saw…
Nearly two years after the $40 billion collapse of Terra (LUNA), the first hearing in a series of lawsuits against the once-popular cryptocurrency company is entering its final chapter. The fraud case filed by the U.S. Securities and Exchange Commission (SEC) against Terraform Labs and its founder Do Kwon is wrapping up in a Manhattan federal courtroom with just days to go before it ends, as the defense began presenting its case on Tuesday. Defense attorneys representing Terra and Kwon said they planned to call only a few witnesses before closing arguments began Thursday afternoon. They will have an uphill…
Buying and holding Bitcoin has, for believers in the flagship cryptocurrency, been a profitable strategy this year with BTC moving up over 56% year-to-date. However, a growing number of quantitative hedge funds and academic researchers are proposing a different approach to take better advantage of the cryptocurrency’s swings: trend following. This quantitative strategy, which capitalizes on market momentum, appears particularly well-suited to Bitcoin’s notorious price fluctuations. Major hedge fund managers like Man Group Plc and scholars from institutions like Cambridge University are finding evidence to support this, according to a recent Bloomberg report. Quantitative funds like the $2 billion Florin…
TRON’s (TRX) price dynamics indicate a move towards potentially lower volatility, highlighted by reduced trader activity in the past week. The Relative Strength Index (RSI) has adjusted to a neutral level at 60, suggesting that TRX is entering a phase of consolidation. TRON Eyes a Consolidation Phase The 7-day RSI for TRX has decreased from highs of 84.6 to 60.8. This is a pivotal metric for gauging whether TRON is overbought or oversold. It currently indicates a balanced market sentiment and equilibrium between buyers and sellers, pointing to potential consolidation ahead. This period of consolidation, marked by stable prices within…
[PRESS RELEASE – Istanbul, Turkey, April 3rd, 2024] In a remarkable showcase of growth and community engagement, the newly launched memecoin $IMARO, announced by Metin Redjepi, the coin’s founder and a prominent figure in the Turkish blockchain industry, has quickly garnered attention in the market. Originating from a viral social media moment during Turkey’s local elections, $IMARO has achieved notable success, embodying the cultural resonance and innovative technology of Turkish developers. Coinstore announced the listing plan today. Metin Redjepi comments, “Turkish communities, who are loved by all crypto companies, have our own culture, including meme culture. I want to make…
Capriole Investments founder Charles Edwards recently shared a comprehensive analysis to understand the peak value of Bitcoin (BTC). Edwards notes that it’s important to track specific metrics rather than setting price targets. Edwards lists a few key metrics that he claims are crucial in determining Bitcoin’s top cycle: Supply Delta + 90-Day CDD: These metrics moved vertically today, indicating a potential cycle top. Long-Term Investor Inflation Rate: Currently at 0.5, this rate still has a way to go until it reaches the 2.0 threshold, which typically indicates a high likelihood of the cycle peaking. Hodler Growth Rate: This metric peaks…
Over the last year, Bitcoin Ordinals have taken the digital collectible world by storm, and they’ve now garnered the attention of financial titan Franklin Templeton. The digital assets division of the global investment firm today featured the rise of Ordinal inscriptions in a new prospectus. “In the past year, Bitcoin innovation and development has seen a renaissance in activity,” Franklin Templeton Digital Assets wrote. “Positive momentum in innovations is primarily driven through Bitcoin NFTs, known as Ordinals, new fungible token starts such as BRC-20 and Runes, Bitcoin Layer 2s, and other Bitcoin DeFi primitives.” The firm recapped the acceleration in…
Zeus Network, a novel initiative striving to increase the operating and collaborating capacity of blockchains, with a special focus on students shared between Solana and other big blockchains, has managed to gather $8 million through the recent financed round. This financial leg revealed the Mechanism Capital that echoes the industry’s cross-chain solutions. By raising money from investors to the tune of $100 million, Zeus had been seen to have a good business and proven project by many investors. Zeus Network: Uniting Solana with major blockchains The whole thing that drives the Zeus Network mission is the creation of a strong…
Token debuts at $1.66, $3 billion market cap. Heavy congestion on Solana-based decentralized exchange OpenBook causes downtime. A 6% share of the total supply was allocated to the airdrop. Cross-chain bridge Wormhole initiated an airdrop that will see early users rewarded with 617 million of its newly issued governance token, W. The token opened at $1.66 on Solana-based decentralized exchange (DEX) OpenBook with a market capitalization of $2.98 billion and a fully diluted value figure of $16.5 billion, according to CoinGecko. OpenBook experienced a period of heavy congestion after the token was released with several users reporting that it was…
Binance, the world’s largest cryptocurrency exchange, has expanded access to its Portfolio Margin previously reserved for VIP users and now available to non-VIP traders with a minimum balance of 100,000 USDT in their cross margin and futures wallets, according to the information shared with Finbold on April 3. This move is set to bolster capital efficiency and give new opportunities to users with complex trading strategies who may not qualify for VIP status. In addition to the expansion, Binance has also introduced a new Portfolio Margin wallet, which streamlines management by consolidating USDⓈ-M Futures, COIN-M Futures, and Cross Margin wallets…