Category: Cryptocurrency News

Cryptocurrency News and Public Mining Pools

How to develop an AI agent for crypto trading

Develop an AI-powered crypto trading agent that processes real-time market data, automates execution, manages risk, and continuously adapts for smarter, faster trading.

CZ admits Binance token listing process is flawed, needs reform

Changpeng Zhao says Binance’s token listing process is flawed and suggests CEXs should automate listings like decentralized exchanges.

Lightchain AI Testnet Under Testing With Over $15M Raised

PRESS RELEASE. The blockchain and artificial intelligence spaces have converged, and Lightchain AI is leading the charge. With its recently launched Lightchain AI Testnet, we’re testing groundbreaking integrations that promise unprecedented speed, scalability, and intelligent solutions. Backed by an impressive $15M USD raised, Lightchain AI is setting a new standard for decentralized AI-driven ecosystems. This […]

Saudi Arabia partners with tech giants in $14.9B AI expansion

Saudi Arabia has committed $14.9 billion to AI through global tech partnerships, including Google, Lenovo and Alibaba, as it aims to become a regional AI hub.

Wall Street’s Ethereum Short Bets Explode – Should Investors Worry?

In a dramatic shift, hedge funds appear to be ramping up short positions in Ethereum at a rate not seen before, sparking questions on whether the second‐largest cryptocurrency by market capitalization could be facing troubled waters—or if something else is at play. According to renowned analysts from the Kobeissi Letter (@KobeissiLetter), short positioning in Ethereum “is now up +40% in ONE WEEK and +500% since November 2024.” Their findings, shared on X, argue that “never in history have Wall Street hedge funds been so short of Ethereum, and it’s not even close,” prompting the question: “What do hedge funds know is coming?” Massive Ethereum Short Squeeze Coming? The Kobeissi Letter’s thread highlights an extreme divergence between Ethereum’s price action and futures positioning among hedge funds. They point to an especially volatile period on February 2, when Ethereum plunged by 37% in just 60 hours as trade war headlines emerged, wiping out more than a trillion dollars from the crypto market “in HOURS.” Related Reading: Ethereum Stuck Below $2,800 Resistance – Bulls Need A Higher Low To Recover The analysts note how ETH inflows were robust during December 2024—even as hedge funds were reportedly boosting short exposure. According to the Kobeissi Letter: “In just 3 weeks, ETH saw +$2 billion of new funds with a record breaking weekly inflow of +$854 million. However, hedge funds are betting ETH’s surge and limiting breakouts.” They also underscore spikes in Ethereum trading volume, particularly on January 21 (Inauguration Day) and around the February 3 crash. Despite the historically high inflows, Ethereum’s price has “failed to recover the gap lower even as one week has passed,” and currently trades “~45% below its record high set in November 2021.” One of the biggest unknowns remains why hedge funds are so dedicated to shorting ETH. The analysts write: “Potential reasons range from market manipulation, to harmless crypto hedges, to bearish outlook on Ethereum itself. However, this is rather strange as the Trump Administration and new regulators have favored ETH. Largely due to this extreme positioning, Ethereum has significantly underperformed Bitcoin.” Related Reading: Ethereum Trades Inside A Multi-Year Bullish Pennant – Analyst Sees A Breakout Above $4K The Kobeissi Letter concludes its thread by drawing attention to Bitcoin’s outperformance and poses the question of whether a short squeeze could be in the making: Could Ethereum be setting up for a short squeeze? This extreme positioning means big swings like the one on February 3rd will be more common. Since the start of 2024, Bitcoin is up ~12 TIMES as much as Ethereum. Is a short squeeze set to close this gap?” Glassnode’s CryptoVizArt Fires Back Not everyone in the crypto analytics sphere is convinced that the tidal wave of Ethereum short positions signals a bearish outlook. Senior researcher at Glassnode, CryptoVizArt.₿ (@CryptoVizArt), took to X to challenge the alarmist takes circulating on social media: “Barchart is screaming, ‘Largest ETH short in history!’ and crypto Twitter is running around like headless chickens. Seriously, if you fell for this clickbait headline, it’s time to up your game. Let’s set the record straight.” In a detailed thread, CryptoVizArt points out that the widely shared chart on hedge fund short positions likely represents only one subset of the market (e.g., “Leveraged Funds / Hedge Funds/CTAs”) and does not account for other significant market participants such as asset managers, non‐reportable traders, and on‐chain holders. They add that similar “massive shorts” were seen in Bitcoin futures as well, yet BTC outperformed ETH during the same period. Furthermore, CryptoVizArt emphasizes that CME Ether futures are just one sliver of global crypto derivatives. Liquidity on platforms like Binance, Bybit, OKX, as well as on‐chain positions and spot markets, offer a broader view than any one exchange’s data might suggest. “One group’s net short ≠ the entire market is net short. Hedge positions ≠ purely bearish bets.” Their final note: much of the positioning could be part of “non‐directional strategies—such as cash‐and‐carry,” which are neutral strategies used to lock in arbitrage gains and are not simply a direct bet against ETH. At press time, ETH traded at $2,629. Featured image created with DALL.E, chart from TradingView.com

Central Bank of Brazil Links Stablecoin Growth to Tax Evasion and Money Laundering

The new president of the Central Bank of Brazil has linked the rapid growth of stablecoins with tax evasion and money laundering. He remarked that individuals use these tools for cross-border payments to maintain an “opaque vision for taxation or money laundering.” Central Bank of Brazil States Stablecoin Volumes Linked to Tax Evasion and Money […]

Daily General Discussion – February 10, 2025

Welcome to the Ethereum Daily General Discussion on r/ethereum https://imgur.com/3y7vezP Bookmarking this link will always bring you to the current daily: https://old.reddit.com/r/ethereum/about/sticky/?num=2 Please use this thread to discuss Ethereum topics, news, events, and even price! Price discussion posted elsewhere in the subreddit will continue to be removed. As always, be constructive. – Subreddit Rules Want…
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British Crypto Trader Held Hostage in Spain, Escapes Before Police Raid

Spanish police arrested three British men in Costa del Sol for kidnapping a UK cryptocurrency broker and demanding €30,000 (approximately $31,000) for his release. The victim, a 34-year-old Hindi speaker, escaped by deceiving his captors into thinking he was calling a customer for a crypto wallet code, instead alerting a friend in London. His friend […]

Can XRP Hit $10,000? A Quadrillion Market Cap For The Coin If That Happens – Analyst

In the realm of cryptocurrencies, a perplexing forecast has surfaced whereby an aspirational price objective of $10,000 for XRP is generating waves on trading platforms and social media. With the current price at $2.38, both experienced traders and newbies should find this prognosis very striking. Related Reading: Final Dip? Dogecoin Correction Could Precede A Record Surge—Analyst Do The Figures Add Up? Let’s get right to the point: this forecast by crypto expert Gen A runs over a basic mathematical obstacle. XRP’s market capitalization would explode to an amazing $1 quadrillion at $10,000 per coin. This is nine times more than the entire global stock market, which by the end of 2023 was valued at $111 trillion. When one considers the nearly $2 trillion market cap of Bitcoin, the absolute absurdity of this situation becomes even clearer. Can XRP Reach $10,000? The Ultimate Breakdown of a Crypto Dream 🔸Why Do Some Believe XRP Can Hit $10,000? 🔸What Would It Take for XRP to Reach $10,000? 🔸What Are the Experts Saying? 🔸Final Verdict: Can XRP Hit $10,000? pic.twitter.com/Fftmqgdbx7 — gen A 🔶 (@genAbilsav) February 7, 2025 The Reasoning For International Payments With supporters citing SWIFT’s daily transaction volume of $5 trillion as evidence for the great valuation, the optimistic projection by Gen A mostly relies on XRP’s part in international money transfers. But this kind of mindset shows a critical misreading of market dynamics. The value of transactions conducted over a network has little bearing on the necessary market capitalization of its native coin. It’s like arguing a delivery truck should be valued as much as every box it carries. What Might Really Motivate XRP’s Development? XRP does have real growth triggers worth thinking about, even with the fanciful $10,000 per unit price projection. While the platform’s capabilities for real-world asset tokenization offers actual possibilities, the much-anticipated conclusion of Ripple’s litigation by the US Securities and Exchange Commission could open institutional adoption. With each transaction, the built-in burn mechanism of the token destroys tiny quantities of XRP, therefore producing natural scarcity over time. Moreover, sources indicate the US government is assessing XRP for inclusion into a potential digital asset reserve. An Earthly Viewpoint Though fantasies of turning $1,000 into $4.2 million via a 420,068% price increase grab attention, they eventually take focus away from XRP’s actual potential. The potential of the cryptocurrency to act as a bridge currency and enable speedier, less expensive cross-border transactions defines its actual value proposition. Why Do Some Believe XRP Can Hit $10,000? The belief in a $10,000 XRP is largely based on its utility in global finance. Unlike speculative coins, XRP is designed to solve real-world problems, especially in cross-border payments. Here are some of the core arguments supporting… — gen A 🔶 (@genAbilsav) February 7, 2025 Related Reading: $350K Bitcoin? Crypto Investment Firm CEO Predicts Massive Surge Less dramatic pricing forecasts and more attention on sensible adoption measures, technical innovations, and regulatory compliance are what the market needs. In the end, utility has always driven sustainable development in the crypto field instead of speculation. At the time of writing, XRP was trading at $2.38, down 3.0% in the daily timeframe, but sustained a 6.6% run in the weekly. Featured image from Pexels, chart from TradingView

UK landfill site containing $768M Bitcoin hard drive to close: Report

A Welsh landfill site where a hard drive purportedly containing 8,000 Bitcoin is buried is set to shut.