Category: Cryptocurrency News

Yield-bearing stablecoins are far more likely to be classed as security products in many countries and would restrict customer reach, argues the son of Jan van Eck.

The XRP price saw some recovery over the weekend, and has continued to maintain some of this bullish momentum. However, it seems experts do not expect the altcoin to continue its bullish trend, with one crypto analyst predicting that the XRP price is headed for a massive crash. XRP Price On The Verge Of An 80% Crash A crypto analyst who goes by the moniker Without Worries on the TradingView website has shared a concerning development for the XRP price. This analysis ,which focuses on the altcoin’s performance over the last two years, suggests that the price is more likely to crash from here than continue its climb. Related Reading: Terra LUNA’s LUNC Set To Jump 13x, Analyst Reveals The Drivers According to the crypto analyst, the XRP price had been trading inside an uptrend channel for the last two years. Mostly, this channel has held up, allowing the cryptocurrency to hold onto its bullish trend. However, the analyst explains that this uptrend channel support has now failed, and with the confirmation complete, it points to a price reversal for the altcoin. Furthermore, the crypto analyst points out that this channel support failure came after a could top in the price after the coin broke market structure back in April 2022. Given this, he expects the price to reverse from here and crash to levels not seen since 2020. The target for this crash sits at the $0.1, according to the analyst. If this happens, it would mean an over 80% crash from the current value of the token, which sits at around $0.5, at the time of this writing. Could The Uptrend Continue From Here? Like with any analysis, the crypto analyst explains that there is a scenario in which the XRP price could continue its present uptrend. In such a case, the price would have to continue trading inside the channel and hold its support at this level. Related Reading: Why Did CORE Price Surge 20% While The Crypto Market Dumped? However, he explains that the price action has already exited the channel. Now, the point to hold becomes the $0.3 level. As long as this holds, then the uptrend would continue. “that support not confirm, 10 cents is next,” the analyst explains. The analyst believes it is possible that the price action does enter the channel and continue to uptrend. However, he points out that this is not probable, given that there is already confirmation of the price failing to hold support. Nevertheless, at the time of writing, the XRP price is still holding above $0.52 with 1.33% losses in the last day. But it is seeing small gains go 2.82% in the last week and remains the 7th-largest cryptocurrency in the space with a market cap of $29.3 billion. Featured image created with Dall.E, chart from Tradingview.com

Former U.S. President and presidential candidate Donald Trump’s cryptocurrency holdings reached $10 million on Monday morning, according to crypto analytics firm Arkham’s onchain tool. The bulk of Trump’s holdings, $7.3 million, is in the TRUMP coin. Trump has pledged to support the crypto industry, promising to halt President Joe Biden’s anti-crypto initiatives and protect bitcoin. […]

Since trading firms like FTX collapsed in November 2022, the Solana blockchain has seen significant gains and regained investor confidence, with Ethereum developers increasingly migrating to it.  According to a recent analysis by Jack Inabinet, Senior Analyst at Bankless, with significant growth in key metrics and SOL’s year-to-date increase of 770%, Solana has solidified its position as a top-tier blockchain. Native teams within the Solana ecosystem played a key role in its resurgence, but now non-native protocols are also seizing the opportunity.  Developers Deliver On Hype Solana’s comeback, from a low of $8 in December 2022 to an annual high of $210 in March, is one of the most notable uptrends of this bull cycle. However, the ecosystem’s growth extends beyond its native token holders. Related Reading: Kickstarting The Bitcoin Bull Run: Expert Says $70,000 Is The Level To Beat According to Inabinet, developers have delivered on the hype, starting with the PYTH airdrop, the Pyth network’s native token. This incentivized users from different ecosystems to explore SOL by assigning tokens to addresses interacting with Pyth oracles across multiple networks.  Additionally, Solana-native liquid staking protocol Jito Labs conducted its airdrop, catalyzing “mass adoption” through points-based incentive systems. While Solana-native protocols laid the foundation for the platform’s mainstream adoption, Ethereum developers are increasingly migrating to SOL. Inabinet highlights that recognizing the significant on-chain activity within Solana, projects are eager to capitalize on the opportunity.  Ethereum Developers Flock To Solana For example, the decentralized compute-sharing network Render migrated its token to the Solana Program Library (SPL) standard, and MetaMask introduced Solana compatibility by introducing “Snaps.”  In addition, according to Inabinet, Aave, Ethereum’s first lending destination, has approved the deployment of a minimally viable version of its V3 isolated money market through Neon Ethereum Virtual Machine (EVM), a compatible Ethereum development environment built on top of Solana.  Proposals for independent deployments, such as the EVM-based perpetual trading platform GMX, further demonstrate the growing interest in SOL. However, the analyst noted that Ethereum and Solana have different approaches to scaling, with Ethereum opting for network fragmentation and Solana favoring a unified state.  Related Reading: Altcoin Season Soon? Quant Says This Ethereum Pattern Could Suggest So Given these approaches, Inabinet suggests that Solana’s alternative vision of blockchain offers attractive features, attracting developers seeking scalability and concentration of use.  Nonetheless, the analyst cautions that developers must take a diversified approach to maximize success and secure market share. Inabinet concluded:  The crypto industry must hurdle a massive chasm of uncertainty to progress from infancy into an end-state where true adoption is achieved, and trillions upon trillions of dollars in traditional assets make their way on-chain. Until then, application developers succumbing to blind chain loyalty are leaving money and market share on the table. As of press time, SOL has seen a 5% increase in the last 24 hours, resulting in a current trading price of $171, with the next price hurdle at $176.  Featured image from Shutterstock, chart from TradingView.com

Adam Rozencwajg of Goehring and Rozencwajg, a fundamental research firm specializing in contrarian natural resource investments, forecasts a sustained bull market for gold, driven by increasing geopolitical tensions, central banks’ efforts to de-dollarize, and escalating inflation risks. He predicts that gold prices could reach $5,000 to $7,000 per ounce, supported by unprecedented central bank purchases, […]

Over the weekend, the crypto community saw suspicious behavior from several X accounts. Crypto figures and celebrities were suspected of being hacked after some unusual posts promoting memecoins. Related Reading: PEPE Frenzy: 100% Gains In 30 Days, But Can The Memecoin Keep Its Composure? Among the celebrities, Olympian and reality TV star Caitlyn Jenner saw a turbulent launch of her JENNER token due to hack and back exit scam rumors. Despite the confusing start, the memecoin has soared by 50,000% since its launch. The Sunday Of Memecoins Launches On Sunday, the crypto community was on edge after a series of dubious posts were shared on different X accounts. First, crypto trader GCR’s account was compromised. The hacker shared two posts promoting tokens, but the community quickly figured the posts were unauthorized.   Later in the afternoon, rapper Rich the Kid and Olympic athlete Caitlyn Jenner shared links to Pump.fun promoting two memecoins, RICH and JENNER. The media personality shared a picture with Former US President Donald Trump and the text “Make America Great Again” alongside the link to the token. The community suspected another security breach in both instances. Nonetheless, Jenner claimed the token was not a scam and continued to promote it on her X and Instagram accounts. Jenner’s manager, Sophia Hutchins, also posted a video explaining that the token and posts were real. Despite the clarification, the community remained cautious as deepfake videos have become more popular among scammers. However, there was some suspicious behavior during the launch, as it was later revealed. The Gold Medalist Of Scams? As the hours passed, crypto investors started to investigate Jenner’s token. According to community member CryptoRoxo, the TV star’s team was “socially engineered by a guy named Sahil.” Per her post, Sahil Arora was the “middleman” in charge of launching the memecoins and advising Jenner’s team about crypto. After launch, Arora seemingly “dumped all the tokens from the deployer wallet, and he had sniped more on burner wallets.” Moreover, he asked Jenner’s team to share a post asking the public to send him tokens. As reported by Roxo, the lack of crypto knowledge allowed Arora to trick several celebrity and influencer teams in the past week. At the time of this writing, Rich The Kid has deleted all posts related to the token and has “called out” Arora and Caitlyn Jenner for scamming people. Additionally, he claims to be working on launching his token, which is unrelated to RICH and Arora. Keeping Up With Jenner Token  X user 0xPonga compiled the tumultuous price movement of the JENNER token during the launch. According to the post, JENNER reached an initial $2 million market cap, despite the initial concerns. After Arora’s sell-off, the community reinforced their suspicion of the scam. However, Hutchins’ video seemingly raised the market cap to $8 million. The token’s price dropped after the deepfake allegations, but the market cap recovered past $20 million after Hutchins addressed the comments in an X Space. Jenner’s manager later hinted at the launch of a new token, which caused JENNER’s price to plummet to a $6 million market cap. A community member stated his disbelief in Jenner’s willing participation in the pump-and-dump scam. He asserted, “I refuse Caitlin is dumb enough to think the few thousand dollars she made off this is worth the millions in fines/jail time.” Related Reading: Bitcoin Price Losing Steam: Market Momentum Slows Amid Trading Hesitation At the time of writing, Jenner’s alleged post asking for tokens seems to have been deleted. The Olympian has continued to promote her token, which will be listed on the crypto exchange MEXC this Monday. JENNER’s market cap sits at $26.79 million and has a daily trading volume of $191.8 million. The memecoin has soared by 51,000% after surging from $0.00006 to $0.0392 in the past 17 hours. Featured Image from Pexels.com, Chart from TradingView.com

A person associated with Caitlyn Jenner’s JENNER coin launch rugged five other prominent figures, but not her, according to Roxo.