Author: Sollcrypto
Within a mere five-day period, liquid staking platforms have experienced a remarkable influx of 370,000 Ether, propelling their total Ethereum holdings from 11.94 million to an impressive 12.31 million. Notably, a significant contributor to this surge has been Binance’s liquid staking token, WBETH, which accounted for more than 86% of this week’s growth, expanding by 318,605 Ether over the same five-day timeframe. Liquid staking platforms have surpassed the milestone of holding over 12 million Ether. As of September 25, 2023, according to data from defillama.com, the total Ethereum (ETH) holdings within liquid staking derivative protocols have surged past 12 million,…
Ripple’s cryptocurrency is maintaining its position above the $0.50 mark when paired with the US Dollar. However, XRP’s value could face a downturn if it fails to recover beyond the $0.512 level. Currently, Ripple’s token is making an effort to advance, targeting levels above $0.508 and $0.512 against the US dollar. It’s worth noting that the price has surpassed $0.500 and is currently trading above the 100 simple moving average (4 hours). On the 4-hour chart of the XRP/USD pair, a significant contracting triangle is taking shape, with resistance forming near the $0.505 mark (data sourced from Kraken). Should the…
The originator of Bitcoin Ordinals is suggesting a novel fungible token protocol based on Bitcoin, as a prospective substitute for the BRC-20 token standard. The BRC-20 standard, introduced in March by an anonymous developer known as “Domo,” achieved a remarkable milestone within two months, with its market capitalization reaching $1 billion. Notably, PEPE and ORDI emerged as prominent BRC-20 tokens established on the Bitcoin platform during this period. The BRC-20 protocol facilitates the creation and exchange of fungible tokens through the Ordinals protocol on the Bitcoin network. However, Casey Rodarmor contends that there is a problem with BRC-20 tokens, as…
Steven Nerayoff, an early advisor to Ethereum, has weighed in on William Hinman’s June 14, 2018, statement, suggesting that this infamous date will be remembered for years to come. A prominent figure in the cryptocurrency world, Steven Nerayoff, has made a startling claim regarding the notorious speech delivered by William Hinman, the former director of the SEC’s Corporation Finance division. In a recent post on X, a well-known member of the XRP community, @digitalassetbuy, shared a document related to a meeting that allegedly laid the groundwork for Hinman’s controversial speech. According to the document, a meeting was scheduled on March…
XRP finds itself in a narrow range, with its price oscillating between the 200 exponential moving average (EMA) and a lower price channel support in recent days. Historically, this lower support level has proven to be a resilient barrier, preventing any sharp downward plunges. Over the past week, XRP’s price has displayed subtle fluctuations. Beginning on September 17th at $0.499, it has experienced minor ups and downs throughout the week. By September 23rd, the price had marginally risen to $0.508. While these price movements may appear modest on the surface, they hint at a period of consolidation and the potential…
Once more, the Bitcoin price is sliding beneath the critical $26,500 support level, leaving BTC vulnerable to further declines below the $26,000 support in the immediate future. This decline began when Bitcoin was unable to overcome the $27,500 resistance. As of now, the price is positioned below $26,500 and the 100-hourly Simple Moving Average. Additionally, an important bearish trend line is forming, indicating resistance around $26,500 on the BTC/USD hourly chart sourced from Kraken. Consequently, the pair faces increased downside potential, potentially breaching the $26,000 level. The price of Bitcoin is once again experiencing a decline. Bitcoin faced resistance at…
A law firm that once served the now-defunct cryptocurrency platform FTX has rejected a class-action lawsuit accusing it of aiding the exchange in its alleged fraudulent actions. In a court filing dated September 21, the United States-based law firm Fenwick & West vehemently denies all allegations of misconduct in connection with the legal services it provided during FTX’s operations. The plaintiffs assert that while Fenwick offered standard legal services within lawful limits, Sam Bankman-Fried purportedly exploited the counsel for his fraudulent endeavors. Furthermore, they argue that Fenwick went beyond the typical scope of its service provision to FTX. The plaintiffs…
In its continuous expansion throughout Europe, cryptocurrency exchange Coinbase has successfully obtained Anti-Money Laundering (AML) compliance registration from Spain’s central bank. In accordance with a statement issued on September 22nd, this registration with the Bank of Spain grants Spanish users the ability to securely hold their cryptocurrency assets on Coinbase, as well as engage in cryptocurrency transactions using euros. The report emphasized that nearly one-third of Spain’s population holds a favorable perspective on digital assets, with a notable “29% of adults in Spain seeing cryptocurrency as the future of finance.” Furthermore, it pointed out that cryptocurrency has overtaken traditional bank…
Coinidol.com’s cryptocurrency price analysis reveals that Solana (SOL) is exhibiting sideways trading, remaining below the $20.50 mark. The long-term price projection for Solana is pessimistic, indicating a bearish trend. Since September 5th, the $20.50 resistance level has effectively impeded any upward momentum for Solana. Notably, on September 21st, Solana encountered resistance after surpassing the $19 support level. The cryptocurrency finds itself sandwiched between the moving average lines, with the $19 support steadfastly holding its ground. The evolution of the cryptocurrency’s price will hinge on whether it manages to breach these moving average lines. Presently, the current support zone is indicating…
While the broader cryptocurrency market grappled with volatility during the recent trading session, Terra Classic (LUNC) managed to secure an impressive gain of over 3%. This exceptional performance allowed the altcoin to successfully breach a significant resistance level within the last 24 hours. Over the previous 24 hours, LUNC’s price exhibited resilience by rebounding from the support level at $0.00005840, forming a higher low in the process. Subsequently, a positive trend line emerged on the altcoin’s price charts. Following this bounce from the pivotal price point, LUNC’s price embarked on a bullish trajectory, breaking through the $0.00006110 resistance and sustaining…