In the first quarter of 2024, spot trading volumes of the top ten centralized exchanges (cex) topped $4.29 trillion, a 95.3% increase from the previous quarter. Despite facing legal challenges Binance remained the largest cex platform with a market share of 50%. The top crypto asset manager Grayscale’s converted GBTC exchange-traded fund (ETF) was the […]

PRESS RELEASE. April 19th, 2024 — Merlin Chain, the largest Bitcoin Layer 2 protocol by total value locked (TVL), is thrilled to announce the launch of its native token, $MERL. As a significant enhancement to the Bitcoin network, Merlin Chain facilitates the rapid growth of decentralized applications (DApps) across various sectors, including decentralized finance (DeFi), […]

The United States Securities and Exchange Commission (SEC) has filed an amended lawsuit against Tron founder Justin Sun, claiming he spent a significant amount of time in the U.S., thus granting the SEC jurisdiction over him and his businesses. The SEC alleges that Sun’s extensive travel within the U.S., totaling at least 380 days between […]

Litecoin (LTC) is proving its toughness in the wild world of crypto. Even with recent ups and downs in the market, Litecoin is holding steady, making investors hopeful about its future. While its price dipped a bit, experts and some charts are pointing towards a big comeback for LTC. Related Reading: Toncoin Unleashes DeFi Monster Growth: TVL Soars 300% In A Month Stability In The Midst Of Market Swings Litecoin’s recent performance stands in stark contrast to the broader market trend. While its price did experience a correction, dropping from a peak of $112 to its current value around $81.12, the decline has been relatively muted compared to other cryptocurrencies. Analyst Insights And Bullish Predictions Financial experts are taking note of Litecoin’s recent performance. Matthew Dixon, CEO of Evai.io, has highlighted LTC’s resilience compared to Bitcoin during this period of market volatility. He attributes this stability to the possibility that Litecoin may have already completed a corrective phase, a period of price adjustment often followed by an upward trajectory. This suggests that Litecoin could be poised for significant growth in the near future. $Ltc#Ltc Gave Golden Chance For Those Who Missed Earlier Bouncing From Trendline Still Expecting Move Towards 250-300$ In Coming Months https://t.co/Uyv82IeTpp pic.twitter.com/bYo4cQ9ylx — World Of Charts (@WorldOfCharts1) April 15, 2024 Adding to the optimistic outlook is respected crypto analyst World Of Charts. Their analysis suggests advantageous entry points for investors considering Litecoin. Additionally, they have identified a robust support level, which acts as a price floor and prevents excessive downward movement. Based on these factors, World Of Charts forecasts a target range of $250 to $300 for LTC in the coming months, expressing strong confidence in its potential for substantial growth. LTC market cap nearing the $6 billion level. Chart: TradingView.com Litecoin Starts Q2 With A Dip, But Investors Eye Rebound Litecoin (LTC) has gotten off to a rocky start in Q2, with its price falling 12% from $112 to $96. This decline can be attributed to two main factors. First, a broader market correction is impacting cryptocurrencies across the board. Second, some investors who bought in during Litecoin’s Q1 surge from $72 to $112 may be taking profits, further pressuring the price. Related Reading: All Quiet On The Bitcoin ETF Front – Should You Be Paranoid? Despite the recent slump, there are reasons for Litecoin investors to remain optimistic. Many investors still believe in the long-term potential of LTC, and some experts predict a price rise to $150 by June. The upcoming Bitcoin halving event, which some believe will drive up Bitcoin’s price, could also have a positive spillover effect on Litecoin. LTC price action in the last 24 hours. Source: Coingecko Featured image from Pixabay, chart from TradingView

Nigerian Instagram celebrity, Pascal Okechukwu, has pleaded not guilty to three counts of abusing naira banknotes. The charges against Okechukwu relate to three incidents in which he allegedly tampered with or “sprayed” NGN500 banknotes. Another Nigerian celebrity, Oluwadarasimi Omoseyin, received a six-month prison sentence for the same offence. Nigerian Authorities Clamp Down on Naira ‘Spraying’ […]

In a recent interview on the future of Bitcoin, Anthony Scaramucci, the founder and managing partner of Skybridge Capital, has made a compelling prediction that the Bitcoin price could potentially reach $200,000 following its forthcoming halving event. This forecast comes at a time of considerable volatility within the crypto markets, exacerbated by recent geopolitical tensions and broader economic uncertainty. Bitcoin Poised To Hit $200,000 During the interview, Scaramucci provided insights into the forces he believes will drive Bitcoin’s price in the coming months. “Well, I mean, look, you could get shocks like wars and you could get, you know, God forbid a terrorist calamity or something like that that could take Bitcoin down 10 or 15%,” he explained. Despite potential short-term setbacks, Scaramucci emphasized the underlying demand dynamics bolstering Bitcoin’s price, particularly highlighting the influence of new financial products like ETFs and the growing interest from institutional investors. Related Reading: Bitcoin Miners Always Sell Into Halvings, Is This Time Any Different? He elaborated on his bullish outlook, linking it to the anticipated Bitcoin halving, an event that historically impacts the supply side of Bitcoin economics by reducing the reward for mining new blocks, thereby constraining supply. “But long term with the halving coming this week, I think this thing trades to $170,000, possibly to $200,000,” Scaramucci asserted. The discussion also veered into the broader implications of Bitcoin’s integration into traditional financial products, such as ETFs. Scaramucci argued that these instruments play a critical role in broadening Bitcoin’s investor base. He dismissed concerns over the potential for ETFs to lead to centralization of Bitcoin ownership. “In terms of adoption vis-a-vis the ETF, you look out your four-year time horizon. […] It will still be less than 10 % of the overall ownership of Bitcoin. So this whole notion that the ETFs are gonna overly centralize Bitcoin, I don’t buy it. I think what the ETFs are, though, is they’re a great conduit for people that are used to buying them.” BTC Is Still In The Web 1.0 Era Scaramucci compared Bitcoin’s trajectory to the early internet era, particularly drawing parallels with significant tech stocks like Amazon during the dot-com bubble. “In 1999, Amazon was an emerging stock on an emerging technology, and it was quite volatile. And you lost 20 to 50 % eight times on Amazon. You lost 80%. Yeah, that one time in March of 2020, it went down 80%. But if you held Amazon over that period of time, $10,000 is worth a little over $14 million today.” Related Reading: No Fed Rate Cuts? No Worries For Bitcoin, Says Research Firm He also addressed concerns about Bitcoin’s practical uses, contrasting its current utility with more traditional assets like gold, which also do not offer direct cash flow. Scaramucci highlighted innovative financial practices within the crypto ecosystem that provide returns similar to traditional cash flow, such as yield-generating accounts and borrowing agreements available through platforms like Galaxy Digital. Regarding potential market downturns akin to the dot-com bust, Scaramucci acknowledged the risks but remained optimistic about Bitcoin’s resilience and long-term value proposition. “I think if we go through a dot-com bust in the broader market in the next year or two, I think you’ll have a price shock in Bitcoin consistent with a dot-com bust. However, if you’re willing to hold that asset, which we are over a rolling four-year period of time, no one has ever lost money in Bitcoin,” he noted, underscoring the importance of a long-term investment horizon. At press time, the BTC price rallied back above $64,000. Featured image from Bloomberg, chart from TradingView.com

PRESS RELEASE. Dubai, April 19, 2024: Following a resounding success, VAP Group is thrilled to announce the triumphant conclusion of the inaugural editions of the Global AI Show and the Global Blockchain Show, held on April 16 and 17, 2024, at Grand Hyatt, Dubai. The heavy rainfall that hit Dubai on Tuesday this week, most […]

Toncoin, of the TON network, has captured the attention of the cryptocurrency community as its Total Value Locked (TVL) surpasses a staggering $148 million, marking a historic milestone. This meteoric rise, reported by DefiLlama, showcases an almost threefold increase in just one month and a jaw-dropping tenfold surge over the course of a year. As of the latest update, TON’s TVL stands firm at slightly over $146 million, underscoring its growing prominence in the decentralized finance (DeFi) landscape. Related Reading: All Quiet On The Bitcoin ETF Front – Should You Be Paranoid? Unprecedented Growth And Leading Projects Within the TON ecosystem, standout performers in TVL include the Tonstakers liquid staking protocol and the STON.fi decentralized exchange. Together, these projects boast a combined total value of locked assets exceeding $283 million. Toncoin Surges As Market Dynamics Shift Amidst the flurry of activity, Toncoin emerges as the darling of the crypto market, experiencing a remarkable surge in value. Over the past month, Toncoin has skyrocketed by over 60%, propelling it to new all-time highs multiple times throughout April. Currently trading at around $6.25, Toncoin’s ascent shows no signs of slowing down. TON price action in the last month. Source: Coingecko Speculation And Partnership Buzz Fueling Toncoin’s ascent are rumors swirling within the crypto community regarding a potential partnership between the TON Society developer community and HumanCode, an AI development firm. While details remain scarce, speculation abounds, with many anticipating a major announcement that could further propel Toncoin’s price up. Gm 💎 Who’s ready for the big announcement?! pic.twitter.com/1i3dBKVYkG — TON 💎 (@ton_blockchain) April 18, 2024 Toncoin Overtakes Cardano in Market Capitalization Meanwhile, Toncoin has surpassed Cardano (ADA) in market capitalization, firmly establishing itself as a force to be reckoned with in the crypto market. With a market capitalization of over $22 billion, Toncoin now holds the coveted 8th position, relegating Cardano to the 11th spot. TON market cap currently at $24 billion. Chart: TradingView.com Market Analysis And Price Consolidation Despite its meteoric rise, Toncoin is currently navigating a period of consolidation, with traders and analysts closely monitoring key price levels and volume dynamics. As the cryptocurrency hovers between $6.50 and $6.75, both bulls and bears are poised for potential shifts in market sentiment. Crypto trader Paxton emphasizes the importance of volume in determining Toncoin’s trajectory, urging caution amidst the market’s ebbs and flows. Related Reading: Historical Data Sparks Excitement: VeChain Price Poised For A Bullish Breakout? As the TON network continues to defy expectations and Toncoin reaches unprecedented heights, all eyes remain fixed on this thriving ecosystem. With its innovative projects, strategic partnerships, and surging value, TON is poised to reshape the future of decentralized finance and redefine the possibilities of the crypto market. Featured image from Amazon, chart from TradingView

Chairman of the Russian State Duma Committee on the Financial Market Anatoly Aksakov stated that digital financial assets, issued by institutions regulated by the central bank, could replace fiat channels for international settlements. Aksakov also acknowledged that while not being controlled for this use case, digital assets were already being used to settle international payments. […]

BNB price is attempting a fresh increase from the $515 zone. The price could gain bullish momentum if it clears the $572 resistance zone. BNB price started a fresh increase after it found support near the $515 zone. The price is now trading below $555 and the 100 simple moving average (4 hours). There was a break above a key bearish trend line with resistance at $540 on the 4-hour chart of the BNB/USD pair (data source from Binance). The pair could gain bullish momentum if it clears the $572 resistance zone. BNB Price Faces Hurdles After a downside correction below $550, BNB price found support near the $515 zone. A low was formed at $513.6 and the price started a recovery wave, like Ethereum and Bitcoin. There was a move above the $525 and $530 resistance levels. The bulls pushed the price above the $540 pivot level and the 23.6% Fib retracement level of the downward move from the $630 swing high to the $513 low. There was also a break above a key bearish trend line with resistance at $540 on the 4-hour chart of the BNB/USD pair. The price is still trading below $550 and the 100 simple moving average (4 hours). Immediate resistance is near the $555 level. The next resistance sits near the $572 level or the 50% Fib retracement level of the downward move from the $630 swing high to the $513 low. Source: BNBUSD on TradingView.com A clear move above the $572 zone could send the price further higher. In the stated case, BNB price could test $600. A close above the $600 resistance might set the pace for a larger increase toward the $630 resistance. Any more gains might call for a test of the $650 level in the coming days. Another Decline? If BNB fails to clear the $572 resistance, it could start another decline. Initial support on the downside is near the $532 level. The next major support is near the $520 level. The main support sits at $515. If there is a downside break below the $515 support, the price could drop toward the $500 support. Any more losses could initiate a larger decline toward the $465 level. Technical Indicators 4-Hours MACD – The MACD for BNB/USD is losing pace in the bullish zone. 4-Hours RSI (Relative Strength Index) – The RSI for BNB/USD is currently below the 50 level. Major Support Levels – $532, $520, and $515. Major Resistance Levels – $555, $572, and $600.

Ethereum price is still consolidating near the $3,000 zone. ETH could start a steady increase if the bulls push the price above the $3,100 resistance. Ethereum is still struggling to recover above the $3,100 resistance zone. The price is trading below $3,100 and the 100-hourly Simple Moving Average. There is a key bearish trend line forming with resistance at $3,070 on the hourly chart of ETH/USD (data feed via Kraken). The pair could accelerate lower if there is a close below the $2,850 support zone. Ethereum Price Consolidates Ethereum price attempted another recovery wave and remained stable above the $3,000 level. However, the bears defended the $3,100 resistance zone, like Bitcoin. There was another decline below $3,000. The price even spiked below the $2,900 support. A low was formed at $2,867 and the price is now recovering losses. It climbed above the 23.6% Fib retracement level of the downward move from the $3,278 swing high to the $2,867 low. Ethereum is still trading below $3,100 and the 100-hourly Simple Moving Average. Immediate resistance is near the $3,020 level. The first major resistance is near the $3,070 level and the 100-hourly Simple Moving Average. There is also a key bearish trend line forming with resistance at $3,070 on the hourly chart of ETH/USD. The trend line is close to the 50% Fib retracement level of the downward move from the $3,278 swing high to the $2,867 low. The next key resistance sits at $3,120, above which the price might rise toward the $3,200 level. Source: ETHUSD on TradingView.com The main downtrend resistance sits at $3,280. A close above the $3,280 resistance could send the price toward the $3,350 pivot level. If there is a move above the $3,350 resistance, Ethereum could even climb toward the $3,550 resistance. More Losses In ETH? If Ethereum fails to clear the $3,100 resistance, it could start another decline. Initial support on the downside is near the $2,920 level. The first major support is near the $2,850 zone. A clear move below the $2,850 support might send the price toward $2,620. Any more losses might send the price toward the $2,550 level in the near term. Technical Indicators Hourly MACD – The MACD for ETH/USD is gaining momentum in the bearish zone. Hourly RSI – The RSI for ETH/USD is now below the 50 level. Major Support Level – $2,850 Major Resistance Level – $3,100

The Reserve Bank of Fiji, Fiji’s central bank, reminded Fijians that cryptocurrencies were not accepted as legal tender in the country. In a recent press release, the institution reinforced that purchasing cryptocurrency with funds held in Fiji was illegal and that penalties could be applied to citizens doing so without the bank’s approval. Reserve Bank […]

Bitcoin price is showing bearish signs below the $63,000 resistance zone. BTC must stay above the $60,000 support zone to avoid a major decline. Bitcoin is still struggling to start a recovery wave above the $63,000 resistance zone. The price is trading below $62,800 and the 100 hourly Simple moving average. There was a break below a connecting bullish trend line with support at $62,400 on the hourly chart of the BTC/USD pair (data feed from Kraken). The pair could gain bearish momentum if it settles below the $60,000 support zone. Bitcoin Price Struggle Continues Bitcoin price started another increase above the $61,500 resistance zone. BTC cleared the $62,500 and $63,000 resistance levels. It even spiked above $64,000 but failed to surpass the key level at $65,000. A high was formed at $64,142 before there was a sharp decline. There was a break below a connecting bullish trend line with support at $62,400 on the hourly chart of the BTC/USD pair. It dived below the $60,800 level and retested $59,650. A low was formed near $59,666 and the price is now attempting a fresh recovery wave. The price climbed above the 23.6% Fib retracement level of the recent decline from the $64,142 swing high to the $59,666 low. Bitcoin price is trading below $62,800 and the 100 hourly Simple moving average. Immediate resistance is near the $62,000 level. It is close to the 50% Fib retracement level of the recent decline from the $64,142 swing high to the $59,666 low. The first major resistance could be $63,000. The next resistance now sits at $64,200. If there is a clear move above the $64,200 resistance zone, the price could continue to move up. In the stated case, the price could rise toward $65,000. Source: BTCUSD on TradingView.com The next major resistance is near the $66,500 zone. Any more gains might send Bitcoin toward the $67,500 resistance zone in the near term. More Losses In BTC? If Bitcoin fails to rise above the $62,000 resistance zone, it could start another decline. Immediate support on the downside is near the $60,800 level. The first major support is $60,000. If there is a close below $60,000, the price could start to drop toward the $59,550 level. Any more losses might send the price toward the $58,500 support zone in the near term. Technical indicators: Hourly MACD – The MACD is now gaining pace in the bearish zone. Hourly RSI (Relative Strength Index) – The RSI for BTC/USD is now below the 50 level. Major Support Levels – $60,800, followed by $60,000. Major Resistance Levels – $62,000, $63,000, and $64,200.

On-chain data shows Bitcoin miners have always sold as Halvings have occurred. With the next one just around the corner, how are miners behaving this time? Next Bitcoin Halving Is Less Than Two Days Away Now In a CryptoQuant Quicktake post, an analyst discussed Bitcoin miners’ behavior in the build-up to the next Halving. The “Halving” is a periodic event on the Bitcoin network where the cryptocurrency’s block rewards (the compensation miners receive for solving blocks) are permanently slashed in half. Related Reading: Chainlink (LINK) Forms Bullish Pattern That Led To 50% Rally On Average This event occurs approximately every four years, and according to NiceHash’s countdown, the next one will occur in just over 32 hours. The countdown to the next halving event | Source: NiceHash Bitcoin miners earn revenue from two sources: transaction fees and block rewards. Historically, the former has been quite low on the BTC network, so the miners primarily depend on the latter to pay off their running costs. Since the block rewards are cut in half during Halvings, these events naturally deal a significant blow to the miner’s revenues. As such, it’s not surprising that the miners have generally shown a reaction to the event in the past cycles. “One of the common dynamics that occur in every cycle of cutting the issuance of new BTC is the significant selling pressure exerted by miners,” says the quant. One way to gauge the degree of selling pressure coming from these chain validators is via the Miner to Exchange Flow metric. This indicator tracks the total amount of Bitcoin moving from miner-associated addresses to wallets connected to centralized exchanges. As miners usually deposit Bitcoin to these platforms for selling, this flow can provide hints about their selling behavior. Now, here is a chart that shows the trend in the 30-day moving average (MA) BTC Miner to Exchange Flow over the last few years: Looks like the 30-day MA value of the metric has observed a steep plunge in recent days | Source: CryptoQuant As displayed in the above graph, the 30-day MA Bitcoin Miner to Exchange Flow had surged to high levels in the 2020 Halving event, implying that this group had potentially been participating in a selloff. This selling push may have come from the miners planning to exit, given the sharp revenue reduction that was set to occur. The graph, though, clearly shows that no such selling pressure has emerged this time around despite the event being just around the corner. Related Reading: 69% Of PEPE Holders Left In Profits After 26% Plunge So, what’s going on here? The analyst suggests that the Bitcoin miners may have already completed the latest round of selling in advance (as the exchange inflows from the cohort did spike in February). If this is true, the quant thinks this could benefit the market in the short term. BTC Price Bitcoin has continued to move sideways inside a range recently, as its price is still trading around $63,500. The price of the coin appears to have rebounded a bit from its latest drop | Source: BTCUSD on TradingView Featured image from NisonCo PR and SEO on Unplash.com, CryptoQuant.com, chart from TradingView.com

Bitcoin has been moving lower ahead of the Halving event, going against analysts’ expectations. This price action has been unexpected and shows how the coin tends to go against predictions, basically charting its path.  Bitcoin Breaking The Mold In light of Bitcoin’s randomness, especially in the past few months following the approval of spot exchange-traded funds (ETFs), one analyst expects the coin to continue defying expectations by clocking in a bull run that defies historical trends. The analyst cites two recent instances where Bitcoin defied expectations to justify this bullish outlook. First, following the rapid expansion in the 2020 to 2021 bull run that saw Bitcoin soar from less than $10,000 to fresh all-time highs of around $70,000, prices sharply contracted in 2022.  Related Reading: Bitcoin To $455,000: Expert Echoes Previous Halving Pattern Then, the United States Federal Reserve shifted its monetary policy to curb raging inflation by rapidly increasing interest rates. Following this and other market-related events, Bitcoin prices dipped below the all-time high of the previous cycle of $20,000. By November 2022, prices fell to as low as $15,000, accelerated by the collapse of FTX. This retest of previous highs and fall below $20,000 had never happened before.  Another anomaly occurred last month. For the first time, Bitcoin prices expanded and broke the previous all-time highs of around $70,000 before the Halving event. As Bitcoin’s past price action shows, prices only rally to fresh all-time highs after Halving. However, this changed when BTC soared to $73,800, possibly paving the way for bulls to join in and push the coin back to unchartered territory post-Halving.  Is BTC Ready For A Multi-Year Rally? With this in mind, the analyst believes Bitcoin will continue uniquely shaping its path, deviating from history. For instance, the analyst thinks BTC will outperform altcoins in the coming months. The analyst adds that increased regulatory scrutiny following high-profile collapses like FTX and Luna could dampen altcoin enthusiasm.  Related Reading: Here’s What Would Happen If The Bitcoin Price Fell Below $58,000 The coin will ride on the fact that it is the only one with an ETF from the United States SEC receiving investments. As a result of this capital injection, Bitcoin will likely register a multi-year “up only” phase, just like gold did once its ETF was approved. Prices remain depressed ahead of this. Though prices are increasing at spot rates, the coin is within a bear formation. Currently, BTC has local resistance at around $65,000. Feature image from DALLE, chart from TradingView