Author: dfmines

INJ, the native token of the Injective Network, commenced May with a fluctuating price action marked by a series of significant losses and gains. As INJ attempts to establish a stable price trajectory, popular market analyst with X handle Crypto Tony has highlighted a pivotal support zone for the altcoin in the coming weeks.  Related Reading: Buckle Up, Injective (INJ) Primed For Takeoff Towards $50 — Analyst INJ Must Not Fall Below $19.30 Level, Analyst Warns In an X post on Friday, Crypto Tony shared a vital insight on the INJ market which could create a sentiment of caution among many traders. The renowned analyst stated that INJ must maintain a market price above the $19.30 price zone, warning that a dip below this support level could spell danger for investors. While Crypto Tony did not say the extent of this danger, the possible loss seems to be likely massive as his statements implied the INJ bull traders could struggle to re-establish market control should the token’s price fall below the specified threshold. Furthermore, the analyst stated that early investors of INJ including himself would be immune to this potential downside. However, he still plans to pull out of the Injective market should the token lose its $19.30 support zone. Currently, INJ trades around $24.70 reflecting a gain of 4.68% in the last day after a period of intense market volatility. The altcoin appears to be gathering momentum for a bullish trend following negative performances in recent weeks resulting in a decline of 24.07% in the last 30 days.  Related Reading: XRP Forms On-Chain Signal That Led To 16% Crash Last Time What’s Next For Injective?  With respect to a highly anticipated crypto bull run, INJ, which gained by over 3,000% in 2023, has been marked by several analysts as one potentially favorable altcoin for investment in the coming weeks. Interestingly, these sentiments have been bolstered in recent weeks by a series of positive developments on the Injective network. For instance, Injective recorded 2.4 million transactions in a single day marking a new milestone in daily transactions for the Layer 1 network.  In particular, the Injective 3.0 network upgrade has also been recently approved which is expected to tackle the inflationary problems of the INJ by decreasing the token’s minimum and maximum creation rate by 25% and 30%, respectively over the next two years on a uniform quarterly basis.  Through these deflationary measures, it is expected that INJ would experience an increased scarcity which could, in turn, drive up the altcoin’s market value, thus contributing to a positive performance in the expected crypto bull run. However, investors are reminded that all cryptocurrencies are subject to varying levels of market volatility and are admonished to trade with all necessary caution. INJ trading at $24.66 on the daily chart | Source: INJUSDT chart on Tradingview.com Featured image from iStockphoto, chart from Tradingview

U.S. authorities have charged a man they accuse of operating a Ponzi scheme, which purported to invest in a cryptocurrency trading enterprise. The operator of the scheme is accused of defrauding investors of at least $43 million. FBI Assistant Director James Smith said the actions of Idin Dalpour not only “sever the trust of clients,” […]

Welcome to the newest edition of Rhino Review – Ethereum Staking Journal! 🦏 Read here: https://rhinoreview.substack.com/p/rhino-review-ethereum-staking-journal-014 📌 Rhino Review – Ethereum Staking Journal supported by EthStaker. The EthStaker community deserves immense recognition for their unwavering support. Kudos to their dedication and collaborative spirit! 💫 submitted by /u/armagancan [link] [comments]

submitted by /u/rizzobitcoin [link] [comments]

This is the most overlooked consideration when people talk about how many logical qubits are required to break the encryption we use for digital signing. Yes, 30 years ago Shor showed us one potential method that imposed risk. Sadly, people seem to think it is the only method. But there hasn't been a lot of…
Read more

A federal district court judge will determine his sentence in accordance with the U.S. Sentencing Guidelines and other statutory factors.

I am learning how to use smart contract wallets, I am currently using Gnosis safe. I am stuck at a point where I can see the safe is created, but every time I need to make transfer I need N out of M people to approve to execute that transaction (Which works I as I…
Read more

submitted by /u/kirtash93 [link] [comments]

The price of Shiba Inu (SHIB), the self-proclaimed “Dogecoin killer,” has been caught in a technical tug-of-war, with bears attempting to push it lower and bulls clinging to signs of hope. Analysts are scrutinizing the memecoin’s chart pattern and on-chain data to decipher its next move. Related Reading: Is MATIC Poised For Takeoff? Key Area Breaks Records, Fueling Bullish Outlook Descending Triangle Looms: Will SHIB Fall Or Fly? A descending triangle formation has emerged on SHIB’s 3-day chart. This pattern typically indicates a potential price decline, as the asset’s price gets squeezed between converging support and resistance lines. The big question for SHIB holders: will the price break below support and continue its descent, or will it defy gravity and break out of the triangle, sparking an uptrend? Falling Demand Raises Concerns For Shiba Inu Adding fuel to the bearish fire, SHIB has witnessed a significant drop in demand. Data from Santiment reveals a worrying trend: the daily active addresses for SHIB have plummeted by more than 50% over the past month. This suggests a shrinking user base and potentially lower trading volume, which can put downward pressure on the price. Source: Santiment New Investors Give SHIB The Cold Shoulder Further dampening spirits is the sharp decline in new addresses joining the SHIB party. According to on-chain data, the number of new addresses created daily to trade SHIB has nosedived by 51% in the same period. This lack of fresh blood entering the market could exacerbate the selling pressure. Shiba Inu is currently trading at $0.000024. Chart: TradingView SHIB’s High Valuation: A Recipe For Sell-Off? Another factor causing concern is SHIB’s Market Value to Realized Value (MVRV) ratio. This metric compares the current market price with the average acquisition price of all SHIB tokens. Currently, SHIB’s MVRV ratio sits at a lofty 38%. When this ratio is high, it suggests the asset might be overvalued, potentially triggering existing holders to cash in on their profits and contribute to a sell-off. SHIB monthly price action. Source: CoinMarketCap A Silver Lining? Despite the prevailing bearish sentiment, a glimmer of hope flickers for SHIB. The coin’s weighted sentiment has surprisingly turned positive recently, indicating a shift in market perception. This newfound optimism could translate into a price breakout, defying the descending triangle’s bearish implications. Related Reading: Bitcoin Update: $120 Million Futures Liquidated As Price Takes A Beating Can Bullish Sentiment Propel SHIB To Higher Ground? If the positive sentiment persists, analysts predict a potential price surge for SHIB, reaching $0.00003. This would be a welcome change for investors who have witnessed a recent price slump. Meanwhile, SHIB’s Fibonacci retracement level shows that the memecoin’s price may drop further 15% to trade at a low of $0.000018 if the bears continue to put pressure on it and it falls below support. SHIB investors now have more cause for concern as this underscores the possible repercussions of a bearish breakthrough. Featured image from Pexels, chart from TradingView