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Ontario ‘Crypto King’ Faces Major Fraud and Money Laundering Charges

Ontario Crypto King Faces Major Fraud and Money Laundering ChargesThe Ontario Securities Commission (OSC) announced on May 15 that two Ontario residents have been charged with offenses under the Criminal Code of Canada as part of Project Swan, a joint investigation by the Durham Regional Police Service (DRPS) and the OSC. Aiden Pleterski, self-proclaimed “Crypto King,” is charged with fraud over $5,000 and laundering […]

Solana Takes The Crown: CoinGecko Ranks It The Best, Leaving Ethereum Behind In Key Metric

The race to achieve the fastest blockchain transaction processing speeds is heating up, Solana (SOL) is in the spotlight as a new report from crypto data aggregator CoinGecko reveals some surprising findings.  The study analyzes the real-world transaction per second (TPS) performance of a range of large blockchain networks, both Ethereum-based and non-Ethereum (ETH) Virtual Machine (EVM) protocols. Solana Emerges As The Undisputed Speed Champion According to the findings, Solana has proven to be the fastest among large blockchains, with its actual daily average transactions per second (TPS) reaching a record high of 1,504 on April 6th, 202. Notably, this figure makes Solana 46 times faster than Ethereum, the second-largest cryptocurrency by market capitalization. Furthermore, Solana’s TPS is more than 5 times faster than Polygonm (MATIC), which currently holds the highest TPS among Ethereum scaling solutions. Related Reading: Expert Sets Timeline For When Ethereum Price Will Begin Rally To $10,000 According to CoinGecko, this demonstrates the superior processing power of the non-EVM blockchain and its ability to handle a large influx of transactions, especially during periods of heightened market activity, such as the recent Memecoin mania, specifically within the Solana network. However, it’s important to note that despite Solana’s performance, the blockchain has only achieved 1.6% of its “theoretical maximum speed” of 65,000 TPS. This suggests that there is still significant room for improvement, and the network’s upcoming upgrades will be closely watched to see how quickly it can record even higher real TPS. Ethereum Scaling Solutions Lag Behind Non-EVM Blockchains The second-fastest blockchain in the study is another non-EVM protocol, Sui (SUI), which recorded its highest real TPS of 854 in July 2023 as the on-chain game Sui 8192 gained popularity. Other fast blockchains among the non-EVMs include The Open Network (TON) at 175 TPS and Near Protocol (NEAR) at 118 TPS. In contrast, the non-EVM blockchains that have recorded relatively lower real processing speeds are Aptos (49 TPS), Starknet (12 TPS), Bitcoin (11 TPS), and Thorchain (2 TPS).  Collectively, the 8 non-EVM large blockchains have an average peak TPS of 284, which is 3.9 times faster than the 17 largest EVM and EVM-compatible blockchains, which have an average of just 74 TPS. Related Reading: Bitcoin To $100,000: Infamous Head And Shoulders Pattern Appears To Signal The Start Of Another Rally The EVM-compatible blockchain that has achieved the fastest real TPS is BNB Smart Chain (BSC), which recorded 378 TPS on December 7th, 2023, amid the surge in on-chain activity driven by the inscriptions craze. This performance places BSC as the fastest Ethereum-based blockchain, though it still lags behind the top non-EVM protocols. Similarly, the surge driven by inscriptions allowed Polygon to record 190 TPS on November 16th, 2023, making it the fastest among the largest Ethereum scaling solutions and 8.4 times faster than Ethereum itself. However, the leading non-EVM blockchains still outpacing even Polygon’s impressive speed. At press time, SOL was trading at $168, up nearly 7% in the last 24 hours and registering an impressive 720% gain year-to-date.  Featured image from DALL-E, chart from TradingView.com 

Nigerian Fintech Firm Flutterwave Confirms Hacking Attempt, Says Users’ Funds Safe

Nigerian Fintech Firm Flutterwave Confirms Hacking Attempt, Says Users’ Funds SafeThe Nigerian fintech firm Flutterwave claimed on May 16 that it had foiled an attempt to breach its payments platform. Flutterwave asserted that the “unauthorized activities inconsistent with usual customer behavior” did not compromise users’ funds or data confidentiality. According to one report, over $7 million was siphoned from Flutterwave following a cyberattack in April. […]

French Regulator Renews Warning Against Blacklisted Bybit

French Regulator Renews Warning Against Blacklisted BybitThe French securities regulator, the Autorité des Marchés Financiers (AMF), has issued a renewed warning against using the digital asset platform Bybit. The AMF reminded French investors that Bybit is an unregistered crypto platform operating illegally in the country. The regulator has advised French investors who use Bybit to take all the necessary precautions to […]

Unstoppable Bitcoin? CryptoQuant’s CEO Foresees Bull Run Extending To 2025

According to Ki Young Ju, CEO of CryptoQuant, the Bitcoin current market dynamics suggest a bullish phase that could extend well into April 2025. Ju’s analysis comes amid BTC’s current uptrend, which appears to be a continuation of that seen in March, when BTC achieved a new all-time high, surging above $73,000 for the first time. Related Reading: Analyst Utilizes Supply And Demand Principles To Determine Bitcoin Price Bitcoin Market Cap Growth Indicates Prolonged Uptrend, Says CryptoQuant CEO Notably, Ki Young Ju’s prediction stems from an analysis of Bitcoin’s market capitalization growth, which has been outpacing its realized capitalization — a measure of the market’s aggregate cost basis. This trend is a classic indicator of a strong bullish cycle and has been a reliable harbinger of sustained upward momentum in past market cycles. Ju’s analysis highlights that the market cap’s rapid growth compared to the realized cap suggests increased investor confidence and market momentum. This pattern has historically signaled prolonged bullish phases. If the current trends persist, this cycle is expected to continue, leading to significant gains in Bitcoin’s value over the next year and a half. #Bitcoin is in the middle of the bull cycle. Its market cap is growing faster than its realized cap, a trend that typically lasts around two years. If this pattern continues, the bull cycle might end by April 2025. pic.twitter.com/o4k8B1Rkhv — Ki Young Ju (@ki_young_ju) May 17, 2024 Bitcoin has shown a positive trend, with a 1.9% increase in the past 24 hours and an over 12% rise in the past two weeks. At the time of writing, it is trading around $67,201. Institutional Adoption And Market Sentiments Underpin Bullish Outlook The optimistic outlook for BTC is not just based on historical trends and market cap analysis. Recent developments in institutional adoption provide further support for this positive trajectory. Anthony Scaramucci, the founder and managing partner of SkyBridge Capital and a notable Bitcoin advocate, recently discussed on CNBC’s Squawk Box how US pension funds are beginning to invest in BTC. “When you do the homework on Bitcoin, you go towards Bitcoin…sometimes when you’re early you get some bumps and scrapes, but I think it pays to be early in Bitcoin and we are still early in Bitcoin,” says SkyBridge Capital’s Anthony Scaramucci. pic.twitter.com/HTfbwH5VJG — Squawk Box (@SquawkCNBC) May 16, 2024 This move by institutional investors, such as the State of Wisconsin Investment Board’s approximately $100 million investment in BTC, signals a broader acceptance and integration of BTC into traditional financial portfolios. Scaramucci emphasized that institutional BTC adoption is unfolding rapidly, and he anticipates more pension funds will pursue Bitcoin investments. He pointed out that regulatory approvals have opened the doors for large-scale institutional participation in BTC. This endorsement will make Bitcoin a staple in these institutions’ long-term asset allocation strategies. According to Scaramucci, understanding Bitcoin and the history of money is key to recognizing its potential. Related Reading: Bitcoin To $100,000: Infamous Head And Shoulders Pattern Appears To Signal The Start Of Another Rally He remarked, Being early in Bitcoin is profitable, and “we are still early… sometimes when you’re early you get some bumps and scrapes.” Featured image created with DALL·E, Chart from TradingView

Crypto Alert: VeChain Bull Run Imminent, Expert Predicts 500% Rally

VeChain (VET), a blockchain platform focused on supply chain management, is stirring excitement in the crypto’s fan base. After a period of consolidation, VET is experiencing a surge in investor confidence, buoyed by a recent price increase and positive technical indicators. However, analysts remain cautious, highlighting the inherent volatility of the crypto market and the need for a measured approach. Related Reading: Filecoin On Fire: Analyst Torches Doubters With $15 Target Resurgence And Resistance Since the top altcoin has been trading sideways for more than a month, investors are turning to other potentially profitable cryptocurrencies. But, the last 24 hours have offered a different perspective that could potentially change the narrative in favor of VeChain. In the last day, VET has defied the broader market malaise with a commendable 3% price increase. This resilience comes after encountering a crucial support level, indicating a potential reversal of its recent downtrend. Currently, VET faces a critical test at the $0.04 resistance level. A successful breakout above this barrier could propel the price further upwards, while a rejection could lead to a pause or even a downturn. Technicals Whisper Bullish, Analysts Take Cautious Note The recent price action has triggered bullish signals from technical analysts. The breakout from a “Falling Wedge” pattern, a technical indicator suggesting a trend reversal, has instilled optimism. Popular crypto analyst World of Charts has set a lofty target price increase of 500% in the coming weeks. $Vet Bouncing From Solid Support (Accumulation Zone Area) Successful Retest Can Lead Massive Bullish Wave In Coming Weeks Expecting 400-500% Bullish Wave#Crypto #Vet #Vechain pic.twitter.com/r2eryHNEDL — World Of Charts (@WorldOfCharts1) May 16, 2024 However, seasoned investors know that technical analysis is just one piece of the puzzle. The overall market sentiment and unforeseen events can significantly impact VET’s price trajectory. VET’s Long-Term Potential While the short-term price predictions paint a rosy picture, the true value of VET lies in its underlying technology. VeChain’s focus on supply chain solutions has attracted partnerships with major corporations like Walmart China and DNV GL. These collaborations demonstrate the real-world applications of VeChain’s blockchain platform and its potential to disrupt traditional supply chain management practices. Increased adoption of VeChain’s technology by businesses could translate to long-term growth for the VET token, regardless of short-term price fluctuations. Related Reading: Did A Dogecoin Whale Just Sink The DOGE Ship? The $30-Million Transfer Mystery A Calculated Approach Is Key For VeChain, the coming weeks will be a test of its technical strength and market confidence. A successful breakout above the $0.04 resistance level could usher in a period of sustained growth. But regardless of the short-term price action, VeChain’s long-term potential hinges on its ability to deliver real-world value through its innovative blockchain solutions. Featured image from PBR, chart from TradingView

US Lawmaker Introduces Bill to Dismantle Fed’s Board of Governors and Abolish the Central Bank

US Lawmaker Introduces Bill to Dismantle Fed’s Board of Governors and Abolish the Central BankFollowing the policymaker’s survey, U.S. Representative Thomas Massie (R-Ky.) announced the introduction of H.R. 8421, known as the “Federal Reserve Board Abolition Act.” This legislation aims to dismantle the Board of Governors of the Federal Reserve and close its branches across the continental United States. Federal Reserve Board Abolition Act Resurfaces Two days ago, Massie, […]

Polkadot Price On The Verge Of Massive Breakout, Can It Reach $25?

Polkadot (DOT) has come under the spotlight with crypto analysts laying out bullish narratives for the crypto asset. One of them is crypto expert Michaël van de Poppe, who believes Polkadot could rise to as high as $25 in this bull run.  Polkadot Could Reach $25 On Next Leg Up Michaël van de Poppe mentioned in an X (formerly Twitter) post that Polkadot’s next rally will see it climb between $20 and $25. He explained that the crypto token has seen a substantial correction in the past months, but it showed enough strength by coming back to pre-rally levels. The analyst further claimed that Polkadot has bottomed, “especially since JAM Whitepaper came out.” Related Reading: PEPE Whales Go On Massive 720B Shopping Spree Amid Campaign For New ATHs, Is It Time To Get In? As such, he believes that Polkadot is more than primed for this rally, which could propel it to such heights. The crypto analyst has been a big believer in Polkadot’s potential. He previously included Polkadot in a list of crypto tokens that he believes are undervalued. He claimed that DOT’s valuation was still at a cycle low, which had opened up a “huge opportunity” to invest in it.  Van de Poppe is very much invested in Polkadot because of its technology. In a previous X post, he highlighted how the JAM (Join-Accumualte Machine) Paper, which ushered in Polkadot 2.0, would revolutionize DOT’s ecosystem. He also claimed that Polkadot is the “second largest blockchain in terms of developers and growth.” Therefore, he expects DOT’s price to complement the team’s efforts soon enough.  Meanwhile, Van de Poppe expects Polkadot to reach as high as $20 in the third quarter of this year. For now, he believes that the $8 and $17 range are crucial resistance levels that the crypto token must break out of to enjoy such a parabolic rally.  A More Bullish Prediction For DOT Crypto analyst Crypto Thanos offered a more bullish prediction for Polkadot, stating that the crypto token climbing above $50 is “easily achievable” in this bull run. He believes this price is attainable because he expects institutions to get interested in large caps like Polkadot. He also noted Polkadot’s collaboration with Tie, which aims to increase institutional exposure and access.  It is worth noting that Polkadot’s all-time high (ATH) is currently $55, which makes Thanos’ prediction for the crypto token feasible. Crypto tokens are known to usually surpass their ATH in every bull run.  Related Reading: Why Is This Crypto Pundit Warning XRP Investors To Be At Alert For The Next 3-12 Months Crypto analyst Captain Faibik provided insights into what to expect from Polkadot in the short term. He predicts the crypto token will record a 35% “bullish rally” soon enough. He said a “major trendline breakout/retest has already been confirmed” for DOT on the four-hour timeframe chart.  At the time of writing, Polkadot is trading at around $7.11, up over 2% in the last 24 hours, according to data from CoinMarketCap.  Chart from Tradingview.com

Penguiana Reports New Milestones As PENGU Presale Hits Soft Cap, Teases Play-to-Earn Game Trailer Next Month

PRESS RELEASE. Penguiana (PENGU), a novel penguin-themed meme coin, is making significant waves within the cryptocurrency and Solana meme community. With its presale already raising over 1500 SOL, Penguiana is positioning itself as the next popular meme coin on the Solana blockchain. Penguiana (PENGU) Presale is Up and Running The Penguiana presale showcases the strength […]

Chainlink Becomes Crypto Winner With 21% Rally: What’s Driving This?

Chainlink (LINK) has enjoyed a sharp surge of more than 21% over the past 24 hours. Here’s what data suggests could be behind this rally. Chainlink Has Surprised Crypto Market With Breakout In The Past Day While most cryptocurrency sectors have seen flat or small green returns over the last 24 hours, Chainlink has shown a decoupling as it has observed some sharp bullish momentum in this window. Related Reading: Bitcoin Still Has “A Lot Of Room To Run Before Reversal,” Says Top Analyst Here is a chart that displays how LINK’s recent performance has looked like: With this sudden burst, Chainlink has touched the $16.7 mark for the first time since the crash during the first half of April. While the asset has now retraced a major part of this plunge, it still hasn’t made a full recovery. Should LINK’s bullish momentum continue, though, it may not be too long before the cryptocurrency can reclaim the $17.8 level it was trading at just before the crash. As for where Chainlink stands in the wider market, the table below shows that, based on market cap, it’s currently the 15th largest coin. LINK isn’t too far off from Polkadot (DOT) now, so it’s possible that if the price rise continues, the coin will dethrone DOT and take over the 14th spot on the list. Now, what could be the reason for Chainlink’s sudden decoupling from the rest of the market? Data from the on-chain analytics firm Santiment may perhaps provide some hints. The Total Number Of LINK Whales Is At A 6-Month High Now As pointed out by Santiment in a post on X, Chainlink investors holding 100,000 tokens or more of the asset in their balance have recently seen their address count increase. This cutoff is equivalent to around $1.67 million at the current LINK exchange rate. Investors with holdings this large are popularly referred to as whales. Whales can be influential entities in the market because they can move a large amount of volume in a short span of time. As such, their behavior may be worth monitoring. From the graph, it’s visible that Chainlink’s total number of whale addresses has hit 564 after the latest rise, which is the highest the metric has been since October of last year. This increase in the number of whales on the network may be partially behind the surge that LINK has just seen. In the same chart, the analytics firm has also attached the data for another indicator: social dominance. This metric tells us about the share of cryptocurrency-related social media discussions that LINK occupies right now. Related Reading: XRP & Cardano Whales Load Up Bags: Preparation For Altcoin Rally? This indicator has shot up alongside this rally, implying the interest around the coin has spiked. Historically, such a rise in attention has been a bearish sign for the asset, so it remains to be seen if these high values will be maintained. “If social dominance calms and FOMO doesn’t take over, bullish conditions are ahead,” notes Santiment. Featured image from iStock.com, CoinMarketCap.com, Santiment.net, chart from TradingView.com