Category: Cryptocurrency News

The market cap of Tether dropped amid the FTX fiasco while USD Coin supply increased by $2 billion.

The latest detailed Bankless episode is pretty brutal. It says that the bulk of the 2021 Bull run was caused by a ponzi system created by the crypto hedge funds and yield farming protocols. In the first 10 minutes, David straight up says that the 2021 price bull run was fueled by a giant ponzi…
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This bear market has taught us not to trust centralized exchanges. The idea extends beyond that. We should be trusting algorithms over people. ​ https://preview.redd.it/dzj3wpwzwp1a1.png?width=607&format=png&auto=webp&s=2fc8fccc1872d2bcf54e9b2eafe5f845a0cec573 SBF would spend customers' money on donations, buy failed projects in the name of saving crypto, and utter good-sounding words. This image would help him raise more so that he…
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Litecoin has experienced a significant price surge on low timeframes and hints at a possible bullish continuation. The cryptocurrency is moving higher than more significant assets in the space, and it’s making its way to the top 10 by market capitalization.  Related Reading: SUSHI Latest Feats Are Quite Impressive, But Crypto Must Overcome Rough Terrain The current market landscape and on-chain activity support a bullish thesis. As of this writing, Litecoin already overtook Solana (SOL) and Shiba Inu (SHIB) in this ranking. LTC’s price is trading at $78 with 15% and 35% profits in the last 24 hours and the previous week, respectively.  Litecoin On Track For Further Gains? Data from research firm Santiment indicates that prominent players have accumulated Litecoin over the previous two weeks. These players anticipated the current bullish momentum.  The firm noted that addresses holding from 1,000 to 100,000 Litecoin accumulated over $40 million in the cryptocurrency over this period. Santiment pointed out the following while sharing the chart below: Litecoin’s price surge may have shocked some of you, but the large address accumulation has been the key to watch. In the past 2 weeks, addresses holding 1k to 100k $LTC accumulated $43.4M in coins en route to the first price jump above $80 since May. As the chart shows, the Litecoin accumulation trend has lost strength. Large LTC holders might take some profits at current levels before resuming their accumulation pattern.  Additional data from Material Indicators point to substantial support for LTC’s price at $55 to $60. These areas should operate as critical support in case of a retrace.  As seen in the chart below, Material Indicators and Santiment coincide with the buying pressure triggered by investors with bid orders of above $10,000. Retail investors have also been supporting the LTC price rally.    Why Is Litecoin Likely To Trend Higher Several factors point towards further appreciation for Litecoin. First, the macroeconomic landscape is becoming more favorable for risk-on assets. Inflation in the U.S. dollar is declining, with economic growth following.  This change might give the U.S. Federal Reserve room to pivot its monetary policy, allowing Litecoin, Bitcoin, Ethereum, and the crypto market to record more profits. The possibility of a Fed pivot is still far, but the market conditions are shifting after a long capitulation period for the nascent sector.  Related Reading: Ethereum Whales Accumulate Over $1 Billion Worth Of Ethereum Amid High Sell-off In addition, Litecoin has historically operated as a leading indicator for bullish momentum during crypto bear markets. As seen in the chart below, LTC was one of the first digital assets to Bullrun into uncharted territory. Will history repeat? $LTC is Repeating previous bottom Fractal ✍️ Every bottom there is a consolidation inside a range followed by – 1) Fakeout ✅ 2) Breakout attempt ✅ 3) Throwback ✅ 4) Markup 👀#LTC #Litecoin #altcoin pic.twitter.com/MmaqPw3cvC — Mags (@thescalpingpro) November 23, 2022 

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There's a very important fact that I want to bring to everyone's attention first and foremost: A seed phrase has never been broken. Sure, people have been tricked into giving them away, or written them down and lost them. But so far, with Billions of dollars worth of prizes for any determined attacker, there is…
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A moratorium on some crypto mining operations relying on carbon-based energy has been signed into law in New York. Businesses engaged in proof-of-work mining in the state will not be able to expand or renew their permits for the next two years as a result of the ban, which is likely to have consequences for […]

The prolonged market volatility has not stopped investors from backing a new protocol that merges DeFi and the foreign exchange market.

While the crypto community has been eagerly focused on the developments surrounding Genesis Trading and Digital Currenc Group (DCG) over the past few days, Ripple Labs continues to battle the U.S. Securities and Exchange Commission (SEC). And the next important deadlines are already looming. By November 30, both Ripple and the SEC have to file their summary judgment briefs, which will remain under seal for the time being. On December 02, the two parties will meet to jointly discuss the redactions for the court filings. Related Reading: XRP Price Rallies 15%, Why Ripple Could Outperform Bitcoin and Ethereum A few days later, on December 05, Ripple’s and the SEC’s briefs will be made public. Finally, on December 22, the omnibus motions to seal all documents related to the summary judgment motions will be filed. Lawyer Believes A Ripple / SEC Settlement Is Possible According to renowned Australian lawyer and crypto enthusiast Bill Morgan, November 30 could be an important date that sets the course for the outcome of the lawsuit. According to Morgan, the documents that will be made public on December 05 could be one of the most revealing documents of the trial. The Ripple reply may be one of the most telling documents filed in the case to date and certainly one of the top few I have eagerly awaited. Morgan believes, based on his experience as a mediator, that a settlement agreement between the SEC and Ripple is a real possibility. Further, he noted that a settlement agreement could be reached at any time, without the public’s knowledge. “[N]obody outside the parties will know until the parties say it has settled.” Related Reading: Genesis / DCG: All Cool Again? Bitcoin Investors Should Be Cautions According to the attorney, Ripple’s possession of records of Hinman’s speech provides it with strong leverage. In order to keep these documents secret and prevent a broader impact on overall crypto market regulation, the SEC may be forced to settle. When asked if the SEC might eventually be forced to make the Hinman documents public, Morgan said: Not necessarily if keeping the Hinman documents confidential is a term of settlement. That is why having them gives Ripple real leverage in settlement negotiations. We don’t know on what basis Ripple received them that does not allow them to be publicly revealed. Under the local rules under which I practise in Australia there is an implied undertaking not to publicly reveal documents disclosed by another party until put into evidence. Is Hinman The Stumbling Block For The SEC? Therefore, in Ripple’s brief, all eyes will be on whether or not the fintech company cites the Hinman documents as evidence. To the extent Ripple waives it, it could be a tell-tale sign of a settlement agreement. Already in mid-September, XRP community lawyer John Deaton had expressed a similar view. According to him, the Hinman documents are of key importance to Ripple. Deaton said then that if judge Torres rules that the documents must be released, the SEC’s delay tactics could run out of time by the end of the year, forcing a settlement. At press time, the XRP price was still in no-man’s land on the 1-day chart. After crashing below $0.50 following the FTX bust, XRP is currently trading at $0.3739.