Category: Cryptocurrency News

The report highlighted that Bitcoin mining can convert wasted methane emissions into less harmful emissions.

The deal was first finalized in August, with Anchorage as another party agreeing to an equity stake in the bankrupt crypto miner.

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XRP, a cryptocurrency Ripple Labs uses to facilitate transactions on its network, has been making headlines recently for all the right reasons. The digital asset has emerged as one of the top performers in the crypto market in recent months, largely owing to Ripple’s significant legal victory against the US Securities and Exchange Commission in July. This victory marked a turning point in the ongoing legal battle that has been unfolding since December 2020. As XRP enthusiasts eagerly anticipate Ripple’s “Proper Party” scheduled for September 29, the crypto’s price remains a point of interest for investors and traders. The community of XRP holders is curious as to whether the company would reveal anything significant regarding the SEC litigation at the party. Currently, XRP is trading comfortably above the critical support level of $0.5, indicating the resilience of its bullish momentum. Related Reading: MakerDAO (MKR) Recent Rally Signals Potential For New Highs – $1,700 On The Horizon? XRP’s Current Price Position As of the latest data from CoinGecko, XRP is valued at $0.508916. While the past 24 hours have seen a minor decline of 0.6%, the cryptocurrency has exhibited a seven-day gain of 1.3%. These figures suggest that XRP remains firmly within the spotlight, even amidst the recent market turbulence caused by the Federal Reserve’s decision to pause the interest rate hike for September. However, it’s not all smooth sailing for XRP. As shown in a recent price analysis, the coin faces a significant hurdle in the form of the 200-day Exponential Moving Average (EMA). For more than a month, this EMA has acted as a formidable barrier, thwarting XRP’s attempts to break through to higher price levels. The consistent rejections at this line have solidified its reputation as a formidable resistance zone for XRP. XRP market cap currently at $27 billion. Chart: TradingView.com For XRP bulls, the key focus now is to maintain the critical support level at $0.5. Failure to do so could expose the cryptocurrency to further downside pressure and the risk of a bear flag breakout. In such a scenario, XRP might be compelled to retest the $0.4 and $0.3 price levels, respectively. Anticipating Bullish Momentum If support at $0.5 holds steady and bulls manage to break through the confluence resistance at $0.5239, XRP could be poised for substantial gains. Enthusiasts and investors are eyeing a potential uptrend that could lead XRP to the $0.85 and $1 price levels in the near future. Related Reading: CoinsPaid Perspective: The Main Reason You’re At Risk Of Being Hacked XRP’s recent performance and its legal victory against the SEC have undoubtedly rejuvenated the cryptocurrency’s prospects. While hurdles remain, the XRP community hopes the upcoming celebration and sustained market support will propel the digital asset to new heights in the crypto landscape. (This site’s content should not be construed as investment advice. Investing involves risk. When you invest, your capital is subject to risk). Featured image from iStock

Bankrupt crypto exchange FTX has opened a lawsuit against former employees of its Hong Kong affiliate company, Salameda, to recover $157.3 million.

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It’s hard to know how much a collapsed crypto firm like FTX would be worth by the time its bankruptcy is resolved.

SkyBridge Capital founder Anthony Scaramucci recently shared positive views on the flagship cryptocurrency, Bitcoin, which could provide some comfort to BTC holders as the bear market lingers.  Scaramucci Says HODL Bitcoin According to a report by Business Insider, the investment firm founder advised Bitcoin holders not to sell their BTC as they already made it through the winter. Interestingly, he mentioned that the worst of the bear market is over. Despite this being a bold assertion, there is evidence to suggest that he might be right. Related Reading: Bloomberg Analyst Lauds Bitcoin Energy Shift Amid Rising Hashrate There is the likelihood that Bitcoin has bottomed as the co-founder of Delphi Digital, Kevin Kelly once noted. Following past trends, BTC usually bottoms 18 months before the Bitcoin Halving (with the next coming in April 2024). As such, the worst part of this current market cycle might truly be over. Scaramucci made this known while speaking at the Messari Mainnet conference in New York. He stated that he was still bullish on Bitcoin despite the cryptocurrency trading far below the highs it reached in 2021. Bitcoin peaked at $68,789 in November 2021 but has since declined by about 61%. Meanwhile, he has singled out Wall Street’s adoption of BTC as one of the factors that will drive the cryptocurrency’s mainstream adoption. Wall Street giants, like the biggest asset manager, BlackRock, have applied to offer a Spot Bitcoin ETF, and he believes that once these firms have that in their “arsenal,” the Bitcoin market is going to widen as it is expected that institutional investors will be looking to invest in it. Scaramucci also likened the potential growth of BTC to the Internet boom, as he stated that the younger generation would be “mainstreaming Bitcoin” the same way his generation mainstreamed the Internet (most likely about when there was massive growth in Internet adoption).  Factors That Could Affect BTC’s Growth Despite his optimism about Bitcoin’s future, Scaramucci noted certain macro factors that could hamper Bitcoin’s growth. These factors include the higher interest rates, negative sentiment around crypto, and the SEC Chief Gary Gensler with Gensler recently stating that there are so many “hucksters” and “fraudsters” in the crypto space. Related Reading: Crypto Analyst Predicts More Trouble Ahead For Bitcoin Price, Here’s Why However, his opinion on the higher interest rates seems to contrast with that of Crypto analyst Nicholas Merten, who stated that the Fed isn’t doing enough (regarding the interest rate hike) to keep inflation down. According to him, re-inflation is on the rise, and this could be one of the factors that could affect Bitcoin’s price going forward. Tug of war between bears and bulls continues | Source: BTCUSD on Tradingview.com Featured image from iStock, chart from Tradingview.com

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Staking inflow, 30 day change: -6,08% After Ethereum's initial rush of money into the deposit contract, caused by the Shanghai/Capella upgrade allowing people to withdraw their staked funds, the flow of money coming in started to decrease. 'Staking Inflow' refers to the amount of Ethereum that people are putting into Ethereum's contract for the purpose…
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