Category: Cryptocurrency News

Dogecoin (DOGE) has seen some of the worst declines in the last week. The meme coin is already down double-digits during this time and is also recording losses on the daily charts. While this is not out of the ordinary given the current crypto market trend, the digital asset has been pulled below important critical levels, which would imply more declines. DOGE Could Go Down Further Given Elon Musk’s recent radio silence on his crypto plans for Twitter and thus Dogecoin by extension, the meme coin has been unable to maintain its upward momentum. It is now down almost 50% from its most recent November peak of $0.15. But perhaps more concerning is the fact that its 15% decline over the last 7 days has dragged it down below the 50-day moving average. Related Reading: What Ethereum’s Rejection At $1,350 Says About The Cryptocurrency DOGE’s 50-day MA is currently sitting at $0.086, whereas the price of the digital asset has now fallen to $0.082 in the last 24 hours. Previously, the cryptocurrency had been on a bullish path as it continued to maintain its value above this level. However, a decline below this point shows that there is now less buying in the market. The meme coin is continuing to maintain above its 100-day MA of $0.075 but this could also be short-lived if the sellers continue to gain momentum in the market. If the price were to fall below the 100-day MA, it would turn forecasts for the digital asset to sell not just for the medium term, but for the long term as well. DOGE price at $0.082 | Source: DOGEUSD on TradingView.com The Weekend Impact The weekend is already established as a period of low volatility. This is because while the crypto market does not see a close of the trading week, the close of the broader financial markets impacts the market as well. It leads to less volume and less momentum in the market. Related Reading: Whale Accumulation Paints Bullish Picture For XRP Given this, it is important for cryptocurrencies such as DOGE to finish strong on Friday if they are to maintain a bullish trend through the weekend. Otherwise, the impact of this low volume can push the prices further down. If  DOGE is unable to beat the $0.09 resistance level before the end of Friday, then it could see the $0.07 territory before the weekend is over. There is not much support for the meme coin at this level, so bulls will likely have to build support around $0.065 to hold off the bears if this happens. However, if the digital asset can finish strong above $0.09, then there is the possibility of a rally above $0.1. DOGE was trading at $0.0826 at the time of this writing, according to data from Coinmarketcap. It is down 5.85% in the last 24 hours and 25.83% in the last seven days. Featured image from Freepik, chart from TradingView.com

It looks like the account has received thousands of SOL in the last few minutes using admin wallet as a signer without having/burning LP tokens. As the tweet I'm linking says, the account can be found on Solscan at: AgJddDJLt17nHyXDCpyGELxwsZZQPqfUsuwzoiqVGJwD Also, the corresponding address on eth is funded via tornado and swap all USDC to…
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Cardano has been on the downside since ADA reached an all-time-high of $3.10 back in September 2021. As of writing, the 9th top crypto has dropped 5% in the last seven days. In comparison, major cryptocurrencies like Ethereum lost over 4.5%, and Bitcoin shed 2% in the same timeframe. However, CoinMarketCap displays a rise in trade volume from $221,898,095 to $277,239,103, which represents an increase of over 25%. Nonetheless, as the price of ADA continues to decline, this could be the beginning of something else for Cardano. Macroeconomics At Play In response to persistently strong inflation in the United States, the Federal Reserve had to increase interest rates by 50 basis points, taking it from 4.25% to 4.50%. Despite the fact that inflation has been prevented from fully exploding since the Fed’s prior rate hikes, they still intend to boost interest rates to 5%, which could be a problem for Cardano investors. Related Reading: Solana: This Minor Hiccup Didn’t Discourage Investors From Acquiring SOL – Until Today ADA total market cap at $9.8 billion | Chart: TradingView.com Since the central bank’s interest rate hike, ADA’s price has broken through the $0.3 support level, however it failed to keep the momentum and is now trading at $0.28. This significant price decline suggests that the rumored Ethereum-killer might be losing its aggressiveness. Cardano’s TVL is only $71.05 million, compared to Ethereum’s $23.4 billion. Additionally, NFT sales on the ecosystem have decreased, exerting additional downward pressure on ADA’s price. On Optimism & Following The Right Path Despite the confluence of these events, the leaders of Cardano appear optimistic about the future. Related Reading: Bitcoin Price Crystal Ball – What Happens To BTC After Christmas 2022? Jerry Fragiskatos, chief commercial officer at Input Output Global, stated in an interview with crypto space influencer Scott Merkel that he believes Cardano is following the right path. “I think time will tell, and I think we’re taking the right approach,” he said. In addition, he compared the ecosystem’s dire state to the corporations that survived the dot-com bubble. This comment relates to analogies between the demise of FTX and the dot-com era of the early 2000s. He also discussed the manner in which ADA tokens are distributed to investors, highlighting the fact that there are few whales and ecosystem insiders. As Fragiskatos stated, only time will tell if ADA survives the current bear market.

The Russian government doesn’t want to enable Bitcoin for regular Russian people but exclusively for foreign trade entities.

The Bitcoin price has once again fallen below the $17,000 mark after it became known that the auditing firm Mazars will pause its work with Binance. Already in the last few days, rumors and FUD about Binance intensified. As NewsBTC reported, investors are worried that Binance is not keeping enough reserves on hand for all their client funds. The impetus for the outcry was a proof-of-reserves conducted by Mazars that raised numerous new questions instead of answering the old ones. Remarkably, the auditing firm worked not only with Binance but also with other cryptocurrency exchanges such as Crypto.com and KuCoin to attest to proof-of-reserves. Related Reading: Bitcoin Price Prediction: Why BTC Could Still Tumble Below $16K An email to Binance now indicates that Mazars is pausing all work for crypto clients. “Unfortunately, this means that we will not be able to work with Mazars for the moment,” a Binance spokesperson said. Binance Rumors Are Dragging Down Market Sentiment The crypto market is not settling down after the collapse of FTX. Rumors of insufficient backing of client funds by Binance, Tether (USDT), and Digital Currency Group’s troubles as a result of Genesis Trading’s liquidity problems hang over the crypto market like a sword of Damocles. Binance CEO Changpeng Zhao had tried to mitigate the turmoil several times in recent days. Thus, he took questions from the community in an AMA and appeared in an interview on CNBC. Related Reading: Bitcoin Miner Capitulation Is An Exaggerated Fear, Analyst Claims When asked if Binance would be able to pay out $2.1 billion if that amount was due. CZ said, “We are financially okay. We are financially strong.” The Binance CEO was also asked why the company has not yet disclosed its liabilities and whether the exchange plans to do so. CZ said: We are working with the audit firms to audit the financial liabilities. [..] Audits don’t reveal any problem. CNBC anchors interrupted CZ and made the claim that an audit by one of the Big Four could put all the rumors to rest. “When you say that some of them don’t want to work with you, that raises questions! They don’t want to work with you because you don’t have the documentation and data that would make them feel comfortable”, they said. CZ, for his part, refuted this statement and claimed that “actually many of them do not know how to audit crypto exchanges.” Binance CEO CZ on CNBC: Many big four firms do not know how to audit crypto exchanges. pic.twitter.com/r3C15cMwbK — unusual_whales (@unusual_whales) December 15, 2022 Bitcoin Price Plunges Below $17,000 The interview has in no way helped to calm the crypto market, especially since CZ was also unable to provide a satisfactory response via Twitter in the aftermath. CZ only retweeted the following and stated in his newest tweet that “Blockchains are public, permanent records. It’s the most auditable ledger.” The pausing of the collaboration with Mazars also puts the interview in a bad light. Mazars has not yet communicated why it has paused cooperation with Binance and the other crypto exchanges, other than that the term “audit” would be used falsely. Bitcoin investors have taken the interview overwhelmingly bearish. Within the last six hours, the Bitcoin price has lost around $500 and was at $17,004 at press time.

Bitcoin fell below $17,000 on Dec. 16, as bearish pressure continued to intensify following yesterday’s disappointing U.S. retail sales figures. Sales in the United States were down by 0.6%, which news came less than 24 hours after the Federal Reserve moved to hike interest rates. Ethereum moved closer to the $1,200 level in today’s session. […]

From creating e-sports competitions with huge prize pools to making game tokens more relevant to holders, members of the community share their thoughts on GameFi.

Litecoin has observed a plunge of more than 7% in the last 24 hours, suggesting that the coin’s bullish momentum may have come to an end. Litecoin Drops Hard TodayS But Is Up 20% In The Last Month While the rest of the crypto market was struggling, LTC enjoyed some sharp bullish momentum in the third leg of November, leading some to believe the “pre-halving rally” had begun for the crypto. But the first half of December proved disappointing as the coin mostly consolidated, and now in the last two days, the trend seems to have completely reversed as Litecoin has been rapidly going down instead. At the time of writing, LTC is trading around $69, down 7% in the last 24 hours. The below chart shows how the asset’s price has changed in recent months. The rise in the coin’s value during the last three months | Source: LTCUSD on TradingView As the graph displays, Litecoin was initially on the way up in early November and crossed $70. But then the FTX crash struck the market, and the coin’s price plummeted to a low of less than $50. However, unlike other big cryptocurrencies like Bitcoin and Ethereum, LTC quickly found its feet and started on a steady recovery. In the third part of November, the coin rapidly blew up and shattered the peak seen just before the FTX debacle, ending the month in double-digit gains while the rest of the sector was deep in the red. Related Reading: Why This Bitcoin Bearish Divergence Could Spell Doom For BTC Rally LTC was consolidating this month after setting a peak above $80, but holders were optimistic as the coin’s halving, an event where block production would be cut in half, is scheduled to take place next year. Historically, halvings have usually had a bullish effect on the prices of cryptocurrencies due to supply-demand dynamics, as supply production is reduced by 50% following them. Related Reading: Ethereum Active Addresses At Highest Since May 2021, Good News For ETH? In the last couple of days, LTC has sharply plunged instead and has retreated below the pre-FTX peak. This could mean that the coin may have lost its recent bullish steam and that this may not have been the halving buildup run that some thought it would be. Though, even after this decline, LTC investors are still 20% in profit over the last month. LTC Slips Further Down The Market Cap List During the recent consolidation, LTC lost its spot as the 12th largest crypto by market cap to Dai (DAI), and now with this latest drawdown, the coin has dropped even lower to 14th as Tron (TRX) takes over. LTC market cap continues to drop | Source: CoinMarketCap Still, when compared to October’s end when Litecoin was 20th on the list, the coin’s current position is a major improvement.

Some personal observations and trying to establish some facts around Binance FUD, a lot of which is deliberately misleading either due to not being well informed or malice. SBF's official paid spokesperson Kevin O'Leary seems to be behind most of it. 24 hours before SBF arrest, the Block and Wall Street Journal rehashed an old…
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