Author: Sollcrypto
Shiba Inu (SHIB), the viral cryptocurrency that captured global attention, finds itself at a pivotal crossroads. According to the most recent data, SHIB is being traded at $0.00000804, and it stands on the brink of confronting a vital resistance threshold that holds the potential to shape its immediate trajectory. The current valuation of SHIB carries substantial weight, as it signifies a crucial point of resistance that has previously served as both a support and resistance level. A thorough examination of the price chart unveils multiple instances of this level being tested, making it a critical juncture. The outcome of a…
IntoTheBlock, a market intelligence platform, has meticulously examined ongoing trends and token behaviors, presenting valuable insights. Their analysis of the 7-day average transactions has brought to light noteworthy revelations, highlighting Uniswap’s prominent position within the DeFi realm. Following closely behind are Maker and Aave, while 0x stands out due to its notably lower daily transaction count. Adding to their significant findings, IntoTheBlock has emphasized the declining Total Value Locked (TVL) in DeFi protocols, reaching its lowest point in 2.5 years. This downward trajectory can be attributed to a series of events that triggered a negative feedback loop within the ecosystem.…
The Ethereum price is encountering difficulties in surpassing the $1,700 mark against the US Dollar. Meanwhile, Ethereum whales are appearing to accumulate, and the crucial support at $1,620 might play a significant role. The current state of Ethereum’s price involves struggles to breach the $1,680 and $1,700 thresholds.The price is currently trading below $1,670 and the 100-hourly Simple Moving Average.An interconnected bearish trend line is taking shape, showcasing resistance around $1,665 on the hourly chart of ETH/USD (data feed provided by Kraken).There’s a possibility that the pair could initiate a notable uptrend, breaking through the resistance levels at $1,670 and…
The imminent $1.9 billion monthly Bitcoin options expiry on August 25 holds significance in determining the stability of the $26,000 support level. While the recent decline in the cryptocurrency market could be attributed to the United States Securities and Exchange Commission (SEC) postponing its decision on spot Bitcoin exchange-traded funds, there’s also a broader macroeconomic context to consider. Should the Federal Reserve’s attempts to control inflation prove effective, it is likely that the trajectory of a stronger U.S. dollar will continue. This trend was evident as the U.S. Dollar Index (DXY), which measures the dollar against other currencies, reached its…
The value of the meme-inspired cryptocurrency Pepe (ticker: PEPE) has dropped by nearly 15%, sliding to $0.000001. This decline follows recent modifications to a multisig wallet and recent token transfers, which have instigated concerns about the possibility of the developers executing a “rug pull.” These suspicions, alongside the adverse price movement, emerged after a total of $16 million worth of Pepe tokens were transferred from the developers’ multisig wallet to different cryptocurrency exchanges on August 24th. Data obtained from the blockchain custody application Safe Global reveals that a wallet address initiated the transfer of 16 trillion Pepe tokens, equivalent to…
In a collaborative effort, investment firms ARK Invest and 21Shares have submitted applications for two Ethereum futures exchange-traded funds (ETFs). This move comes in the wake of recent reports suggesting that the U.S. securities regulator might soon commence the approval process for such applications. The proposed ETFs are named the “ARK 21Shares Active Ethereum Futures ETF” (ARKZ) and the “ARK 21Shares Active Bitcoin Ethereum Strategy ETF” (ARKY), as detailed in a filing to the Securities and Exchange Commission on August 24. As outlined in the filing, ARKZ is designed to allocate a minimum of 25% of its total assets to…
Glauber Contessoto went all-in on Dogecoin when Elon Musk began promoting the cryptocurrency on Twitter in 2020. Having invested $250,000 from his savings and credit card, his holdings surged to $3 million at a certain point. However, despite the substantial gain, Contessoto, 35, with his “diamond hands,” opted not to cash out. In 2020, when Elon Musk initiated cryptocurrency promotion on Twitter, Glauber Contessoto fully committed to Dogecoin. He directed $250,000 from his savings and credit card into the investment, resulting in his holdings peaking at $3 million. Despite this significant increase, 35-year-old Contessoto, known for his unyielding resolve (“diamond…
The nonfungible token (NFT) marketplace Rarible has witnessed a noteworthy increase in trading volume within a 24-hour period subsequent to a public declaration endorsing the preservation of NFT creator royalties. This development coincides with rival NFT marketplaces like OpenSea retracting their backing for royalties and royalty enforcement, which has subsequently spurred other NFT projects to reconsider their support for OpenSea. According to data from the analytics platform DappRadar, Rarible experienced an impressive surge of almost 585% in its 24-hour fiat trading volume, surpassing $45,000 on August 23rd. Although the numbers may seem modest in comparison to those of its competitors…
In recent times, the crypto market has witnessed a significant decline, as the overall market capitalization dropped by 10% from August 14 to August 23. This decline led the market to its lowest value in more than two months, settling at $1.04 trillion. Consequently, this movement has instigated notable liquidations in futures contracts, marking the largest occurrence since the FTX collapse in November 2022. Numerous economic factors have contributed to this downturn. With interest rates surpassing the 5% threshold and inflation persistently exceeding the targeted 2%, the costs of borrowing have surged for both households and businesses. This situation has…
Former OpenSea product manager Nathaniel Chastain has been sentenced by a federal judge to a three-month prison term due to wire fraud and money laundering associated with insider trading on the platform. According to an announcement from the United States Department of Justice on August 22, U.S. Attorney Damian Williams stated that Chastain has been handed a three-month prison sentence, followed by three months of home confinement, and a three-year period of supervised release. Additionally, Chastain is required to pay a $50,000 fine and forfeit Ether (ETH) obtained through nonfungible token (NFT) trades, which is valued at $1,631 as of…