Category: Cryptocurrency News

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Judge Jed Rakoff gave a detailed interpretation of the Howey test that was at odds with the decision on the SEC case against Ripple.

Smart contracts should be viewed as “proof-of-concept” rather than as critical for universal adoption. That may mean exploring alternatives.

Over the last few months, Litecoin has emerged as one of the top trending cryptocurrencies due to its halving event happening in August. As this event drew closer, crypto investors began filling up their LTC bags in preparation for what is expected to be a very bullish event. And now, with less than two days left to go before the halving, sharks have made remarkable moves to position themselves for possible upside. Litecoin Sharks Load Up Their Bags A report shared by the on-chain tracking platform Santiment revealed how Litecoin investors are currently looking at the digital asset. The chart showed an impressive accumulation trend from dolphin and shark wallets, which have increased their holdings significantly in the last month. Related Reading: Dogecoin Falls While Others Rally, Is It Decoupling From The Market? Santiment’s report shows that these wallets holding between $9,500 and $950,000 worth of LTC have added over 200,00 coins to their balances since June 14. On this date, the total holdings of these wallets were sitting just slightly below 18 million. However, in the next two weeks, their balances grew above 18.1 million coins. LTC sharks and dolphins buy over 200,000 coins | Source: Santiment There has also been a semi-constant uptrend among these investors. Although there were dips here and there in their holdings, they remained committed to the accumulation over this last two weeks, each time buying more coins than they sold. What Is Driving The LTC Accumulation? The current accumulation from the dolphin and shark wallets are not isolated and just like the whale acquisitions, they are being driven by the same thing. The Litecoin halving is expected to take place on Wednesday and since this event has been historically bullish, it has triggered active participation from investors looking to capitalize on it. If the LTC halving plays out as expected, then it is possible that the price of the altcoin will climb above $100 once more. This would put the majority of the LTC accumulated by the dolphin and shark addresses over the last two weeks back in profit territory. Related Reading: Cardano (ADA) Price Remains Muted Despite Significant Milestones, Why? However, the days leading up to the event haven’t been as bullish as expected. Even though LTC’s price is still trading above $90, it has seen only single-digit daily gains over this time. Naturally, with less than two days to go, there should have already been some rapid increases for the cryptocurrency but there has been none. This current trend suggests that the halving may already be priced into LTC’s price, especially given the fact that the crypto bear market has continued. At the time of writing, LTC is changing hands at a price of $93.80, down 0.98%, according to data from Coinmarketcap. Follow Best Owie on Twitter for market insights, updates, and the occasional funny tweet… Featured image from iStock, chart from TradingView.com

Scope data on July 31 shows that 29 meme coins were launched over the weekend on Base to capitalize on the recent frenzy surrounding BaldBaseBald (BALD), a meme coin inspired by Coinbase CEO Brian Armstrong. However, all 29 meme coins have since been rugged, with the deployer exiting with over $1 million after seeding roughly $105,000 of ETH as liquidity. Base is an Ethereum layer-2 platform based on Optimism roll-up technology.  Rug Pulls On Base On July 29 and 30, there was excitement about the meme coin, BALD, as its prices exploded by as much as 4,000X, pushing the token’s market cap to over $100 million. This was great news for those who invested early as some exited as the wave rise, profiting. Some builders took advantage of the hype and created meme coins to deceive investors eager to join the BALD trend, eventually resulting in losses for some meme coin token holders. Related Reading: BALD Coin Rug Pull: How A $100 Million Memecoin Became Worthless Overnight While BALD has already been rug-pulled, Scope notes that the address behind the 29 meme coins also has a history of rug-pulling in other platforms, including the BNB Chain and Arbitrum, a popular Ethereum layer-2 platform. In platforms where meme coins are traded, liquidity, provided by the community, is essential due to the decentralized nature of trading.  Rug pullers typically supply liquidity to their meme coins, which attracts more users to buy the coin and increases liquidity as prices rise. However, the creator then deliberately withdraws liquidity at this point, converting their meme coins to a more liquid coin like Ethereum, causing their token prices to drop to zero. As of July 31, hours after the rug pull, the address primarily held USDC and a small portion of ETH in their portfolio, with no meme coins. This potentially highlights the rug puller’s risk-averseness and his concerns about the risks involved in this asset class. Related Reading: Bitcoin Crucial Moment: Will Resistance At $29,500 Trigger A Sell-Off Or Surge? Meme Coins Are Volatile Meme coins are popular in crypto, especially Ethereum, where they are minted as fungible ERC-20 tokens in their trillions. Dogecoin, endorsed by Elon Musk, is the most liquid and widely recognized. Despite rising popularity, there are concerns about their volatility and lack of utility, with some critics labeling them as “casinos” that undermine the true vision of crypto as an alternative financial system. For example, the collapse of BALD, which commanded billions in market cap on Base over the weekend, has drawn widespread condemnation. Besides BALD, other like PEPE and LADYS are struggling, dropping by over 70% from their all-time peaks registered in H1 2023. Feature image from Canva, chart from TradingView

Never heard about this before, I thought I'd share ​ Liberland is a self-proclaimed country, it's very small (7km²/2.7sq miles) and is situated in Europe on the border of Serbia and Croatia. It's a disputed land between the two countries, so it's currently inaccessible It was created by a small group of people on April…
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