Category: Cryptocurrency News

President of Madeira made the announcement during a chat with Prince Filip of Serbia at Bitcoin Amsterdam, pledging an emphasis on collaboration and technology development.

According to blockchain analytics firm Elliptic, the anonymous FTX exploiter has used THORSwap to convert ETH to BTC, which is traceable on-chain.

Chinese economic strife dragged down Asian markets, while interest rate woes caused a bearish tumble in Europe.

Data from decentralized app tracking platform DappRadar shows that $600 million in investments flowed into the blockchain gaming space in the third quarter of 2023.

Unusual volume has been observed in both HTX (formerly known as Huobi ) and its partner company Poloniex. HTX which has partnered with TRON had the highest volume of 20B in August 2023 (this month had one of the lowest volume in crypto among all exchanges since 2019 ). Image credit Kaiko NOTE HERE THAT…
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Amidst waves of volatility in the crypto market, the Shiba Inu price seems to be stabilizing. Meanwhile, Lucie, the marketing manager of Shiba Inu, provided important insights into the upcoming developments when she revealed the roadmap for the anticipated “journey”. The Upcoming “Shibarium Journey” In her most recent tweet, Lucie expressed the magnitude of the upcoming Shibarium journey. She stated, “Embarking on the Shibarium journey is a big task that demands a lot of time and commitment. Our goal is to create outstanding decentralized applications (dApps) that people will love and use.” Related Reading: Shiba Inu Price Dips Below Key Support: Time To Enter Or Exit SHIB? Elaborating on the roadmap, Lucie delved into the multifaceted strategy Shiba Inu plans to deploy. She highlighted the significant plans in store for the development of the project’s tokens, SHIB, BONE, and LEASH. Lucie underscored the goal to ensure that these tokens are “not only valuable but also have a strong utility within our ecosystem.” Such enhancements are hoped to draw in more users and investors, thereby amplifying benefits for the Shiba community. On the topic of decentralized applications, Lucie emphasized their focus on creating “exceptional dApps that will revolutionize the decentralized world.” According to her, the forthcoming dApps will be fashioned to be user-centric, innovative, and meet the demands of the community. Lucie also touched upon the virtual realms the team is concentrating on: the Shiboshi NFTs and the SHIB Metaverse. She believes these virtual environments will “serve as vibrant hubs for our community to connect, interact, and explore.” By shaping immersive and captivating online spaces, Lucie anticipates fostering a profound sense of community. Lucie wrapped up her tweet affirming the commitment to Shibarium’s growth as an L2 solution, stating, “Our steadfast commitment to building Shibarium as a successful L2 solution remains unshakable.” She championed the collaborative and innovative ethos that forms the foundation for the tokens and the burgeoning Shibarium ecosystem, saying: This journey, marked by collaboration, innovation, and dedication, is the bedrock of our tokens’ triumph and the thriving Shibarium ecosystem. Together, we’re shaping the future of decentralized applications, one innovative step at a time. #ShibariumJourney However, not all members of the SHIB community are on board with the project’s current trajectory. A notable tweet from @a_king_li read: “@ShytoshiKusama: L2 has been released for two months now, and there are no major projects, no good ecosystem or trustworthy swap. As a responsible official, should we release some official cooperative ecosystems or swap, so that funds can come in with peace of mind.” Related Reading: Shiba Inu-Based BONE Gearing Up For Massive Rally, Here’s Why The concerns primarily arise from the absence of any major dApp on Shibarium, as touched on by Lucie. Notable projects like ShibaSwap and the Metaverse are yet to be operational on Shibarium. Furthermore, there’s a noted decline in Shibarium’s user and transaction statistics. After an initial hype with over 200,000 transactions daily post-launch, recent numbers hover above a mere 10,000 transactions per day. Shiba Inu Price Stabilizes The stagnation in Shibarium’s development may be a contributing factor to the dissatisfaction of some community members, as well as SHIB’s recent price action. As detailed in our last in-depth analysis, the SHIB price currently treads on decisive technical grounds, influenced by two significant chart patterns. On the 1-week chart, SHIB showcases a promising quadruple bottom formation, indicating a potential bullish surge of up to 250% if realized. Contrarily, a descending triangle pattern, which has evolved over 60 weeks, suggests a bearish downturn. This is highlighted as SHIB’s price, currently at $0.00000682, has dropped below the descending triangle’s crucial neckline of $0.00000715. For now, SHIB has stabilized and recovered slightly, having already fallen to $0.00000671 yesterday. Hope also comes from previous instances, such as the dip in June followed by a 59% rally, suggesting the potential for swift recoveries. However, for this to happen, SHIB needs to record a weekly close above the $0.00000715 this week or next week. This might cement the bullish quadruple bottom trajectory. In case the scenario does not play out, SHIB could fall again towards the yearly low at $0.000006. Featured image from Shutterstock, chart from TradingView.com

The change in leadership at Tether reflects its commitment to actively exploring new business operations, the company said.

Among many critical revelations about Alameda and FTX’s relationship, Caroline Ellison confirmed that Alameda always had access to customers’ funds at FTX.

As the bear market continues to linger, analysts have weighed in on the decline of the flagship cryptocurrency, Bitcoin, and the crypto market, by extension. This time, another crypto analyst has explained what is influencing Bitcoin’s price decline.  Factors Causing BTC’s Decline Bitcoin notably dropped below the $27,000 level on October 12. Addressing this decline in a recent episode on the ‘Cheeky Crypto’ YouTube channel, Crypto analyst Nick noted that there wasn’t much going on in the news and the only thing that could have affected Bitcoin’s drop was the US inflation data, which was recently released with the CPI rising higher than expected.  Related Reading: US Mega Bank JPMorgan Predicts Harsh Drop In This Bitcoin Metric He then analyzed key on-chain metrics that could have affected Bitcoin’s price. According to data he pulled up from Cheeky Crypto’s site, there were 903,210 active addresses in the last twenty-four hours (he released the video on October 12). The data also showed that 610,686 active addresses received Bitcoin during that period, and 560,331 active addresses sent Bitcoin during the same time frame, amounting to 265,000 transactions. What was, however, more interesting was the fact that only 23 million addresses held BTC out of the total 48.7 million addresses in existence. He stated that these figures were important to give an insight into Bitcoin’s adoption rate as one could easily assume that almost all the Bitcoin addresses in existence held BTC. Meanwhile, less than half actually did.  BTC price continues to fluctuate | Source: BTCUSD on Tradingview.com More Selling Pressure For Bitcoin As to another factor that could be causing the decline, he noted that retail investors had been selling in the past few days. However, the silver lining, as Nick highlighted, is that this selloff suggests that institutional investors are accumulating once more, considering that they had once dumped their tokens on these retail investors.  Additionally, 108 wallets hold over 10,000 BTC. These wallets, which Nick labeled as the “master manipulators” of BTC’s price, are also experiencing a similar sell-off trend as these wallets are down 8.47% in the last 180 days, which suggests that they are “aggressively” selling off. Related Reading: Bitcoin Price Plunge: Long-Term Holders Buy $1.35 Billion Worth Of BTC From the chart he shared, one could see that the trend dates back to April 2023 (the peak of accumulation by these wallets) as they have begun to cool off and dump some of their holdings on the market. His analysis suggests that there could be a bigger picture regarding Bitcoin’s decline rather than any immediate factor.  Despite this decline and the amount of liquidations that have occurred, Nick is still optimistic that Bitcoin could end this month in the green. October is reported to be one of the best-performing months for Bitcoin, with the crypto token ending October in the green for the last five years. Featured image from The Independent, chart from Tradingview.com