Category: Cryptocurrency News

Shiba Inu (SHIB) has faced a significant challenge in the form of the December 2022 low. This crucial level has proved a formidable barrier for SHIB bulls, thwarting their attempts to increase prices.  Despite recent upside movements, the resistance at this level has proven to be persistent, creating a precarious situation for the cryptocurrency.  As the price of SHIB hovers in this area, the question arises: Will the selling pressure overpower the bulls’ determination and cause a reversal in the price action? Shiba Inu Faces Bearish Order Block And Potential Liquidity Hunt SHIB faces a significant challenge as its December 2022 low coincides with a bearish order block (OB) ranging from $0.00000785 to $0.00000824. This particular range, as highlighted in a recent SHIB price report, could serve as a stronghold for bearish sentiment in the market. Related Reading: USTC Surprises With Nearly 60% Rally – What’s Going On? Consequently, the possibility of a liquidity hunt in this region cannot be disregarded, potentially leading sellers to extend their gains toward the immediate support level at $0.00000711. Source: Coingecko Amid recent market fluctuations, SHIB is currently trading at $0.00000788, based on data by crypto market tracker Coingecko. This reflects a decline of 3.4% over the past 24 hours. However, despite this short-term setback, SHIB has also notched a seven-day rally of 3.4%, showcasing its inherent resilience and potential for recovery in the long run. Decrease In SHIB Token Burns: Implications For Supply, Demand Meanwhile, Shibburn reported a notable decline in the number of tokens burned within the past 24 hours. A mere 1,233,806 SHIB tokens were burned in a single transaction, representing a sharp 91.59% decrease in the daily burn rate and in contrast, the previous week witnessed the burning of nearly 1 billion SHIB tokens. In the last 7 days, there have been a total of 915,371,832 $SHIB tokens burned and 139 transactions. #shib — Shibburn (@shibburn) July 16, 2023 This decline in token burns carries several implications for the SHIB ecosystem. Firstly, burning tokens plays a crucial role in reducing the overall supply of SHIB, potentially exerting upward pressure on its price.  Related Reading: Dogecoin Engagement Fails To Impress, Raising Concerns About Broader Interest However, with the significant decrease in the daily burn rate, the rate at which new tokens are being removed from circulation has slowed down considerably. This could impact the potential scarcity and perceived value of SHIB in the market. Shiba Inu (SHIB) market cap currently at $4.6 billion on the daily chart: TradingView.com Moreover, the reduced token burns may suggest a shift in market sentiment and investor behavior. It could indicate a decreased demand for burning tokens or a temporary lull in activity within the SHIB community. Market participants and SHIB token holders will closely monitor the implications of this decline in burns on future price movements and the overall supply-demand dynamics of the cryptocurrency. (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 Bodybuilding.com

Hi Folks, Please look into this thread, can someone have a proper answer for me? https://twitter.com/0x7d987f6/status/1680858712389345280 submitted by /u/Jannick63 [link] [comments]

National Australia Bank is the latest bank to announce blocks on certain cryptocurrency exchanges, citing the high risk of scams.

translation: BlackRock CEO: Crypto 'will overtake every single currency' BlackRock CEO Larry Fink is once again bullish on the crypto sector. He compares Bitcoin and Co. with other currencies. Larry Fink is doing it again: After the BlackRock CEO spoke positively about Bitcoin and Co. in an interview with Fox Business, he comes back to…
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In the legal battle between Ripple Labs and the U.S. Securities and Exchange Commission (SEC), the recent order granting in part and denying in part the motion for Summary Judgment by Judge Torres has left many XRP investors eagerly awaiting the next steps. To shed some light on the situation, prominent attorney Jeremy Hogan has shared his thoughts on the matter, offering valuable insights into the potential appeal process with deadlines and its implications for both parties involved. Ripple Vs. SEC: The Next Possible Deadline Hogan, a seasoned attorney with experience in appeals, cautions that appeals are typically pursued after a case is completely finished. “After the final judgment is entered, either party has 60 days to appeal,” says Hogan who emphasized that the Ripple case is not yet finalized, any potential appeal at this stage would be considered an “interlocutory appeal.” Related Reading: XRP Explodes With 1,300% Surge In Trading Volume As crypto Exchanges Jump On Board “As far as I can see in the Rules, you have 10 days to notice an interlocutory appeal”, states Hogan. Since the Summary Judgment was issued on July 13, an appeal by the SEC or Ripple Labs would have to be filed by July 23 at the latest (or by July 24 if the deadline does not start until the following day). This means that next Monday at the latest it will become public whether one of the parties files an appeal. But an interlocutory appeal is rarely granted and generally requires compelling reasons, such as the release of significant information that could impact the case. However, Hogan points out that Judge Torres did not certify her ruling for immediate review, indicating that an interlocutory appeal might not be granted in this scenario. This suggests that the SEC and Ripple would need to wait for a final judgment before pursuing an appeal. Hogan believes that both parties might ultimately choose not to appeal for various reasons. According to the lawyer, the SEC might hesitate to appeal because, even if successful, it could potentially jeopardize their overall case. Winning the appeal would retract some unfavorable aspects of the trial-level case. However, if the SEC were to lose at the appellate level, it could set a precedent that all courts in the 2nd DCA (Second District Court of Appeals) would have to follow, amplifying the impact of their loss. Related Reading: Large Exchanges Relist XRP Following Ripple Victory Over SEC On the other hand, Hogan believes that Ripple may opt not to appeal if it can afford to pay the fine and if the ruling’s effect on its business, particularly the aspect concerning the On-Demand Liquidity (ODL) feature, is manageable. These factors, combined with the fact that Ripple secured a favorable outcome in the ruling, might dissuade them from pursuing an appeal. When considering the potential difficulties in winning an appeal, Hogan emphasizes that Judge Torres is the one who has meticulously reviewed the entire case record. This makes the appellate process inherently challenging for either party, further reducing the likelihood of an appeal. Regarding the SEC’s challenge in appealing the secondary market sales aspect, which presents a problematic area for the regulatory body, Hogan admits that he hasn’t solidified his thoughts on the matter yet. XRP Price The XRP price has taken a breather after the stunning rally following the Ripple summary judgment. After being rejected at the 38.2% Fibonacci retracement level at $0.93, the XRP price is currently trading at $0.7481. After a possible retest of the 23.6% Fibonacci retracement level at $0.68, the impulsive move may see a continuation. The final verdict in the Ripple v. SEC case and possible appeals will certainly continue to have a strong impact on the price. Featured image from Outlook India, chart from TradingView.com

After almost two years, the stolen 13,556 ETH, worth nearly $60 million at the time, amounted to almost $26.2 million at the time of writing.

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The value and popularity of TerraUSD Classic, or USTC, the algorithmic stablecoin of the Terra Classic (LUNC) ecosystem, have skyrocketed recently. Today, the stablecoin makes a surprise rally, sparking a great deal of interest among investors and cryptocurrency aficionados. The sharp growth in USTC could be an indication of a sharp rise in demand and emphasizes the market’s rising confidence in this stablecoin. Data from crypto market tracker Coingecko shows USTC trading at $0.0186, notching a 24-hour increase in value of 21.4%. In the last seven days, the stablecoin registered an impressive 58% rally, causing its trading volume to balloon to a solid 409%. Source: Coingecko USTC Organic Growth Pushes Stablecoin Up Despite the fact that the causes of this upswing are yet unknown, the recent spike in USTC’s value shows organic growth. “Organic growth” refers to the increase in value of USTC that occurs naturally, without the influence of external factors or artificial means. Related Reading: Dogecoin Engagement Fails To Impress, Raising Concerns About Broader Interest It suggests that the growth is the result of the company’s internal operations, strategies, and market dynamics, rather than being driven by external factors such as acquisitions, mergers, or financial manipulations. After it was de-pegged more than a year ago, USTC saw a huge price decline. Since USTC is a stablecoin with a 1:1 tie to the USD, its price should always be $1. The stablecoin has since traded at lower prices, reaching a 52-week high of $0.06 during that time. There are signs, nevertheless, that USTC could revisit the $1 level and recoup its worth. Total market cap of cryptocurrencies as of today stood at $1.17 trillion. Chart: TradingView.com The TerraUSD Classic de-pegging caused major difficulties for the larger digital currency ecosystem, and its effects are still being felt today. A few Web3.0 firms with exposure to its parent company Terraform Labs went out of business in addition to the more than 99% decline in price of its linked cryptocurrency, Terra Classic. Related Reading: BNB Chain Inks New Record With Soaring User Activity – A Boost For Price? The implosion of FTX Derivatives Exchange was finally driven by the bankruptcies of Celsius Network and Voyager Digital, which prolonged the crypto winter even further. Meanwhile, in order to expand supply and rekindle interest in the stablecoin, the Terra Classic community is launching projects like staking and burning LUNC tokens while also working to improve infrastructure. Source: Coingecko Will The Terra Classic Stablecoin Retest $1? There is growing consensus that the TerraUSD Classic token is steadily approaching a retesting of the significant $1 price level. Among investors and enthusiasts alike, this strong rising trend has spurred new optimism. As the TerraUSD Classic token gains momentum, it boosts community members’ faith in its capability to uphold its pegged value and function as a dependable digital asset. The community may become excited and eager in anticipation of a probable retest of the $1 price level, which would improve the outlook for TerraUSD Classic’s long-term prospects. (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 Analytics Insight

As SIM swap attacks are often seen as non-demanding in terms of technical skills, users must pay due diligence to their identity security.