Category: Cryptocurrency News

Hi! I've been reading a lot about ERC-4337 and how it works at the high level view (at least this point: https://beincrypto.com/learn/erc-4337/). I understand that with this framework, the end-user doesn't need an EOA anymore. Following the fact that no more EOA manipulation is needed on the end-user side, I have several questions: How is…
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Stacks, the layer-1 protocol that enables smart contracts on Bitcoin, have demonstrated incredible resilience amid bearish market trends. Stacks’ STX token price has increased by over 6% over the past week and joined top-gaining coins today with a nearly 0.53% price gain, while the broader crypto market plunged by 1.63% in the last day. STX’s price moves have left investors wondering if it will soon conquer the $0.7 level, as its seven-day price range is between $0.532995 and $0.669564. Stacks (STX) Bucking Bearish Trends Amid Heightened Regulatory Uncertainty  According to CoinGecko data, STX rebounded yesterday from a two-day price decline after the total crypto market cap witnessed a 1.6% increase. The token saw a massive 11% price decline on Tuesday, June 6, before regaining momentum with an 8.9% price increase on June 7. Related Reading: Less Than 100 XRP Needed To Become A Millionaire? New Research Suggests As a DeFi-enabling protocol, Stacks (STX) is among the tokens prospering in the heat of the SEC’s lawsuit against Binance and Coinbase. After the US regulator pronounced several digital tokens, including SOL, ADA, BNB, MATIC, and ATOM, as securities, DeFi protocols witnessed increased trading volume. The same goes for STX, and according to CoinMarketCap data, STX saw a 0.65% increase in market cap over the past 24 hours. The crypto market cap turned red after news of the two lawsuits broke out in the crypto ecosystem. Although STX went with the flow, dropping 0.3% and 11% on June 5 and 6, it soon recovered momentum. The token’s timely recovery could be why it retained most of its 7-day and 14-day gains. Data shows that STX’s 14-day price increase is 11.9%, while Bitcoin only recorded a 0.5% increase in the last two weeks. STX Price Outlook Volatility is high across various assets in the crypto market, while sentiment is down as fear and uncertainty grip investors due to heightened enforcement actions. The Fear& Greed Index has been neutral over the past month, but technical analysis suggests a bullish outlook for STX. At press time, STX price has exceeded the 10, 20, and 30-day Exponential and Simple Moving Averages, suggesting a strong buy signal. However, the momentum is a little bearish, as the token has to conquer the 50 and 100-day Simple Moving Averages to break above the $0.7 mark. Related Reading: Polkadot Metrics Surge With Project Launches – Good News For DOT Price? The bull Bear Power is currently neutral at 0.0655. Therefore, the bulls must overpower the bears before the STX price can rally with bullish momentum in the coming days. Also, STX is trading at $0.65, gearing up to touch $0.7. That could be possible if the bulls conquer the bears in the coming days. Featured image from Pixabay and chart from TradingView.com

World Mobile announces the completion of DeWi technology field tests in Kenya, Mozambique and Nigeria, bringing a full African rollout one step closer.

The market is currently experiencing a downturn fueled by an unsettling combination of FUD (fear, uncertainty, and doubt). Adding to this challenging situation is the recent lawsuit filed against crypto exchange giants Coinbase and Binance by the US Securities and Exchange Commission. In their legal action, the regulatory body has vividly portrayed Binance and Changpeng Zhao’s actions as part of “an extensive web of deception, conflicts of interest, lack of disclosure, and calculated evasion of the law”. As a consequence of this disheartening news, Binance’s netflow on the Ethereum blockchain has plummeted to a staggering negative $776.8 million. This event led to the crypto market dropping over 3% in the past 24 hours at the time of writing as significant cryptocurrencies slid, pulling the entire market downwards. Meanwhile, Bitcoin, for its part, continues to languish below the $27k region. Thus, these top five cryptocurrencies are a must-avoid for investors if they want to stay in the green this week.  Netflow to Binance over the past 24 hours is $778.6M negative on Ethereum – $871.7M in and $1.65B out Over the past hour, netflow on Ethereum continues to be negative at $35.7M on Ethereum – $14.8M in and $50.5M out Track it here https://t.co/nwTgpXWhZY and filter for “Binance” pic.twitter.com/jnNAN0QKVy — Nansen 🧭 (@nansen_ai) June 6, 2023 Top 5 Losing Cryptos Amid FUD Storm PEPE Once the bringer of significant gains to investors has now succumbed to the bearish forces of the market, according to Coingecko, the token is now down over 13% in the daily timeframe, following the market slippage that started this week.  The token’s current trajectory puts it on a path for more FUD for investors. At the moment, PEPE’s price oscillates above the $0.00000101 support range. With the bearish sentiment in the crypto market right now, it will take some time before bulls can knock a zero out of PEPE.  SAND Despite a strong advertising campaign ahead of Paris Hilton’s concert on the 7th of June, investors’ and traders’ confidence in SAND was shaken as major cryptocurrencies fell in price. Coingecko noted a 17% decrease in the past 24 hours, a sign that more pain in the short to medium term is at hand. ✨PARIS: LIVE IN CONCERT ✨ Owners of the 11 rarest 1/1 Avatars get a free ticket to @ParisHilton: Live in Concert on June 7th. This will be an unmissable evening with Paris + special guests at the Fonda Theatre in LA, featuring performances of her famous songs and brand new,… https://t.co/afDazic39p pic.twitter.com/MXNpF8RQID — The Sandbox (@TheSandboxGame) June 5, 2023 SAND is currently sitting above the $0.4976 support range. Investors and traders could expect the bears to break through this support level if the bearishness in the market continues. If this happens, a drop to $0.4368 will occur.  SUI Even as the news of the network’s partnership with Red Bull Racing hit the market, bears still found a way to crash the party. Recent market data shows that the SUI, the governance token of the network, is down 14% since Wednesday.  SUI has a newfound support range at $$0.7533. SUI bulls, however, should not expect much from this support level as it has no strength backing it. At the moment, investors and traders should monitor the market’s movement as the token has a significant correlation with Bitcoin.  Bitcoin sliding near the $25K region. BTCUSD Chart: TradingView.com Bearish Atmosphere Pervades CFX Bears brought havoc to CFX, continuing the bearish momentum after Conflux was affected by Multichain’s irregularities. As of writing, the CFX is down over 12% since yesterday, following the general market downturn.  At the moment, CFX bulls are trying to settle around the $0.2229 support level. If this support holds, we might be able to see a return towards $0.2354 in the long term. However, investors and traders should still be wary of short to medium term losses on the token.  AXS Despite the successful release of Axie Origins on the Apple Store last month, the market downturn and FUD dashed any hope of gains in the short term. Coingecko data reveals that the token is down nearly 12% since Wednesday.  After enjoying gains made after the release of Axie Origins, bears are now trying to break through the $6.6 support level. If they are successful, a drop to $5.86 in the near future is possible if the market continues to pull AXS downward.  (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 Binansal

Transfero’s Thiago Cesar says when he started buying Bitcoin in 2012 he knew it had amazing potential for “internationalizing money.”

Pouch founder Ethan Rose said that they’ve managed to convince 400 businesses to accept Bitcoin in the Philippines.

Blockchain’s transparency is another key weapon in the fight against fraud.

Due to concerns over the risk of scams, Australia’s largest bank, Commonwealth Banks (CBA), has recently announced the temporary delay of certain payments associated with crypto exchanges. This decision arose after the United States Securities Regulator (SEC) sued two major global exchanges, Coinbase and Binance. This comes just a few weeks after another major Australian bank, Westpac, banned customers from transacting with crypto exchange Binance. Commonwealth Bank Combat Scams, Prioritizing Customer Protection On June 8, CBA disclosed its intention to decline or place a 24-hour hold on “certain payments to crypto exchanges.” Nevertheless, the bank has yet to specify which crypto exchanges or payment types would be impacted by these new measures. Related Reading: Ripple CEO Blasts SEC Chair For Anti-Innovation Stance, XRP Bulls Remain Optimistic According to a statement, CBA claimed that the measures they’ve introduced safeguard their clients from scams associated with making payments to crypto exchanges. The bank added that customers sending funds to crypto exchanges to purchase cryptocurrencies will have a monthly limit of AUD 10,000 ($6,650). The general manager of CBA’s fraud management services, James Roberts, said; Consumer interest in cryptocurrencies has been increasing, and unfortunately, scammers globally are capitalizing on this trend and masquerading as legitimate investment opportunities or diverting funds into cryptocurrency exchanges. James further emphasized that the limits on outbound payments to crypto exchanges and the 24-hour holds will help fight the number of scams and money lost by customers. CBA said continual evaluation and monitoring would be conducted to assess the impacts of these scam response measures. This recent security measure marks a significant reversal from its previous plans. Notably, in November 2021, the bank introduced crypto trading services through its CommBank app, holding millions of users. During that period, the bank’s CEO, Matt Comyn, acknowledged the associated risks but emphasized the greater risks of not participating.  He stated that “The sector and the technology [isn’t] going away anytime soon.” Uncertain Future for Crypto Exchange Binance Australia Services Following De-banking Amid the ongoing global de-banking of crypto businesses, Binance users in Australia now face limited options for purchasing cryptocurrencies.  According to Binance, starting from 5:00 pm local time on June 1, bank transfers for fiat on-ramps and off-ramps have been suspended in Australia, including trading for Australian dollar (AU$) pairs. The recent suspension of deposits and withdrawals is connected to previous events that have affected Binance in Australia. Related Reading: US SEC Sues Binance, Fails To Mention Ripple (XRP) As Security In February, Binance’s local derivatives division informed users that specific positions and accounts would be closed for those who did not meet the criteria to be classified as wholesale investors. According to the law, a wholesale investor has sufficient capital to invest in higher-risk and more speculative assets. This investor category is also called an institutional or accredited investor.  To qualify as a wholesale investor in Australia, one must possess net assets of at least $2.5 million or have an annual gross income of at least $250,000. Notably, a report published by Binance in July of 2022 clearly states that the derivatives products are strictly for Australian wholesale clients. Related Reading: Galaxy Digital CEO Mike Novogratz Says This Will Kickstart The Bitcoin Bull Market However, after Binance closed non-compliant accounts, local regulators initiated a “targeted review” of the exchange’s local derivatives operations. On April 6, the Australian Securities and Investment Commission (ASIC) revoked the Binance Australian Derivatives license. Featured image from Pixabay and chart from Tradingview.com