SNEAK PEEK

Archblock’s new marketplace offers tokenized U.S. Treasury Bills.

Archblock’s platform streamlines investing by bypassing intermediaries.

Blockchain tech democratizes access to alternative assets.

Archblock, a pioneer in blockchain-enabled finance, recently unveiled an on-chain marketplace designed to democratize access to alternative assets for global investors. With this move, Archblock envisions transforming the investment landscape, offering a platform for asset managers to originate and tokenize alternative assets. Additionally, they can deploy capital seamlessly using blockchain technology.

On the same accord, the firm also publicized the launch of the Adapt3r Short-Term U.S. Treasury Bill Fund, a tokenized U.S. Treasury Bills fund, on its new marketplace. Managed by Adapt3r Digital LLC, this innovative product targets non-U.S. USDC holders and non-U.S. on-chain investors who can’t access traditional U.S. bank or brokerage accounts. Further, the fund provides these investors liquidity and access to sought-after short-term U.S. Treasury Bill yields.

Besides offering a unique investment opportunity, the new marketplace enables investors to conduct due diligence and review investment strategies from various asset managers. Moreover, Archblock’s robust technology and smart contracts have already facilitated over $1.8 billion in on-chain asset origination and capital deployment.

According to reports, investors interested in the Archblock marketplace will undergo a streamlined onboarding process involving Know Your Customer/Know Your Business and Anti-Money Laundering checks. Once their wallets are whitelisted, investors can easily deploy capital in any eligible portfolio.

However, what sets Archblock apart is its ability to bypass traditional intermediaries, thereby streamlining the investment process. Bill Wolf, Chief Investment Officer of Archblock, emphasized the transformative power of blockchain technology in the alternative investment landscape. 

He noted that blockchain decreases the unit of scale for originating and managing such investments. Furthermore, Wolf highlighted that this technology democratizes access to alternative assets, often difficult to access in traditional financial markets.

Archblock’s smart contracts and software also automate the execution of fund operations, allowing asset managers to offer scalable investment opportunities. The platform’s potential for cost-efficient financial services, stemming from the low marginal costs of decentralized finance and operational efficiencies, contrasts sharply with traditional financial institutions’ high labor and operating costs.

The post Archblock Unveils Game-Changing On-Chain Marketplace with Tokenized U.S. Treasury Bill Fund appeared first on Every News Bite is Essential for Investment.

SNEAK PEEK

SEC’s approval of Prometheum’s license raises concerns in the crypto community.

Lawmakers question the timing of licenses amidst ongoing regulations.

Prometheum’s co-CEO advocates for SEC’s regulatory framework.

In a recent report by Eleanor Terrett, a Fox Business reporter, Patrick T. McHenry, the Chairman of the United States House Financial Services Committee, has demanded that Gary Gensler, the chief of the United States Securities and Exchange Commission (SEC), hand over documents related to Prometheum’s licensing. This move comes as the Committee considers addressing gaps in regulating digital assets.

NEW: Chairman @PatrickMcHenry led Republicans on the Financial Services Committee in letters to @FINRA and @SECGov‘s @GaryGensler regarding the approval of @PrometheumInc as the only Special Purpose Broker-Dealer for digital assets. https://t.co/DIZFw2XeZh

— Eleanor Terrett (@EleanorTerrett) August 15, 2023

Prometheum, a crypto-related firm, was granted a special broker license in May by the Financial Industry Regulatory Authority (FINRA) under the jurisdiction of the SEC. This license allows Prometheum to provide custody services for digital asset securities. However, this approval has sparked concerns within the cryptocurrency ecosystem and amongst lawmakers.

Notably, the SEC approved Prometheum’s license shortly after taking enforcement actions against major cryptocurrency exchanges Binance and Coinbase. This raised eyebrows in the crypto community, as Prometheum is a less-recognized crypto firm and does not offer trading in top crypto assets like Bitcoin (BTC) and Ethereum (ETH).

Republican lawmakers have also raised suspicions about the timing of the license, questioning why it was granted while they were still working on regulations for the crypto industry. The approval came shortly after Republicans in the U.S. Congress introduced a draft Bill to reclassify digital tokens from securities to commodities.

During a U.S. House Financial Services Committee hearing in mid-June, Prometheum’s CEO Aaron Kaplan was allowed to testify as a witness. This action further fueled concerns, with Representative Mike Flood calling the approval from FINRA and SEC “nonsense.”

Prometheum’s co-CEO has stated that the crypto industry’s way forward is through the current regulatory framework designed by the SEC. However, critics have pointed out that Kaplan’s testimony was influenced by Democratic members of Congress or the markets regulator.

The post Prometheum’s License Approval Amidst SEC Crackdown Sparks Debate appeared first on Every News Bite is Essential for Investment.

SNEAK PEEK

BTC’s steady $29.4k performance outpaces equities, boosting confidence.

The correlation shift highlights growing investor faith in crypto’s uniqueness.

Bears dominate, yet BTC’s trading activity endures amidst market shifts.

Bitcoin continues to trade within a limit range at $29.4k, but this flat performance in August outperforms equity markets such as the #SP500. The break in correlation that began in mid-July has historically been positive for cryptocurrency prices.

#Bitcoin continues to stay in a tight price range at $29.4k, but this flat behavior is actually outperforming equities markets like the #SP500 here in August. The correlation break that began in mid-July is historically beneficial to #crypto prices. https://t.co/94iKuzxhP6 pic.twitter.com/WFE7HJ0ys6

— Santiment (@santimentfeed) August 16, 2023

Over this period, Bitcoin has showcased its resilience by maintaining stability even when the market experiences fluctuations. This correlation divergence suggests that investors are progressively acknowledging cryptocurrencies as a distinct asset class, boosting their confidence in Bitcoin’s long-term potential.

Nonetheless, bears have dominated the Bitcoin market over the past 24 hours, driving prices from an intraday high of $29,439.12 to an intraday low of $29,088.85. BTC’s price was down 0.63 % during this writing to $29,151.06 from its previous close.

Amidst the economic downturn, the market capitalization of BTC saw a slight decline of 0.59%, settling at $567,246,024,433. Interestingly, the trading volume within 24 hours increased by 8.80%, reaching a value of $13,364,742,719. This change highlights that even though the market capitalization of BTC decreased, there remained noteworthy trading engagements in the BTC market.

BTC/USD 24-hour price chart (Source: CoinMarketCap )

The upper and lower Kelter Channels (KC) values on the BTC market price chart are 29589 and 29025, respectively. This movement indicates that the market is undergoing a significant decline. If the price breaches the bottom line, the downward trend may continue and provide opportunities for profit-taking or short-selling.

On the 4-hour price chart for BTC, the negative Commodity Channel Index (CCI) with its line pointing south has a value of -173.13. This movement suggests that the market is experiencing intense selling pressure and that a price reversal is imminent. BTC’s price is currently in a dip, but a price increase may be on the horizon. 

BTC/USD 4-hour price chart (Source: TradingView)

The Chande Momentum Oscillator (ChandeMO) on the BTC market’s 4-hour price chart is negative and pointing south with a value of -38.57. This movement indicates that BTC has been falling rapidly on the market and may be due for a brief rebound because it is currently oversold.

The Elder Force Index (EFI) is negative with a value of -5,084k on the 4-hour price chart for BTC, indicating increased selling pressure in the market, which may portend a continuation of the bearish trend. Even though the price of Bitcoin has decreased, a significant price increase may be imminent.

BTC/USD 4-hour price chart (Source: TradingView)

In conclusion, intriguing dynamics unfold as Bitcoin’s resilience defies norms. Amid fluctuations, its potential remains strong in an evolving market landscape.

Disclaimer: Cryptocurrency price is highly speculative and volatile and should not be considered financial advice. Past and current performance is not indicative of future results. Always research and consult with a financial advisor before making investment decisions.

The post Bitcoin Price Analysis 16/08: BTC’s Resilience and Divergence Defy Norms Amid Market Swings appeared first on Every News Bite is Essential for Investment.

SNEAK PEEK

Whales are accumulating Cardano stakes, indicating a possible bullish market sentiment shift.

ADA’s price is trending lower within a descending channel, but the daily trading volume is positive, suggesting active engagement in the market.

Technical indicators such as RSI, MACD, and Bollinger Band all suggest a bearish market sentiment.

According to the data from Santiment, there are now over 25,000 wallets holding balances of 100,000 ADA or higher. This dramatic increase in large “whale” holders reveals strengthened convictions by influential investors.

The ’s and ’s knows something There are now 25,294 wallets with 100K+ $ADA @Cardano #CardanoCommunity @CardanoFeed https://t.co/M1uzsOnoMtData from @santimentfeed pic.twitter.com/51iIrJgl7c

— CardanoCore (@CardanoCore) August 15, 2023

Many analysts believe whales accumulating massive Cardano stakes indicates insiders expect significant upcoming developments that could boost ADA’s value. The on-chain metrics suggest whales know something big is coming and are positioning for major gains ahead.

Cardano Price/Technical Analysis: ADA’s Negative Trend Continues Amid High Daily Trading Volume

The most recent Cardano price analysis points to a continuation of the descending channel as bearish forces persist. ADA has been trending lower for the past month when it recorded a high of $0.3300. The coin was trading at around $0.2792 during press time, and its performance over the past 24 hours continued to reflect a downward pattern with a 3.71% decline.

ADA/USD Daily Chart, By: CoinMarketCap

The hourly and daily charts show ADA is moving within a descending triangle pattern, with support at $0.278 and resistance just above the current price level at $0.2900. This indicates that the bulls cannot break out of this range, allowing bears to capitalize on weak momentum.

If bulls manage to get back into the game and breach this range, then ADA could see a surge above $0.3000. Conversely, if bears continue to control the market, ADA could dip below $0.2700, with prices retracing the lows of $0.2500 in an extended market correction.

Despite Cardano’s downtrend, the daily trading volume increased from yesterday’s close, with over $200 million changing hands in the past 24 hours. This could indicate that traders are still actively engaging in the market, as observed by the surge of whale wallets accumulating Cardano stakes mentioned earlier.

The 4-hour chart for Cardano price analysis shows a strong bearish trend. Still, with whales accumulating ADA and high trading volume hinting at active engagement, a reversal soon should not be ruled out.

Technical indicators such as the Relative Strength Index (RSI) and Moving Average Convergence Divergence (MACD) suggest bearish momentum is still strong. The RSI shows that ADA trades in the oversold zone, while the MACD indicator remains negative and the MACD line is below the signal line.

ADA/USD 4-hour chart, By: TradingView

The Bollinger band indicator reveals that ADA is trading on the lower band, which implies further downside potential. If support at $0.278 fails to hold, Cardano could dip further below in the coming sessions. The buying pressure needs to pick up for ADA to recover the losses and climb back toward the $0.3000 level.

Cardano’s price analysis shows that the bears are still in control, as the price is trending lower within a descending channel. There could be some short-term upside potential if support at $0.278 holds, but the bulls need to regain market control for a more sustained climb.

Disclaimer: Cryptocurrency price is highly speculative and volatile and should not be considered financial advice. Past and current performance is not indicative of future results. Always research and consult with a financial advisor before making investment decisions.

The post Cardano Price Analysis 16/08: Whales Accumulate ADA Despite a Sluggish Market appeared first on Every News Bite is Essential for Investment.

SNEAK PEEK

Community Notes is a decentralized fact-checking tool that embodies crypto values.

It uses an open-source algorithm to score notes based on diverse user reviews.

It offers a transparent, neutral approach to combat misinformation on social media.

As misinformation continues to plague social media, Twitter’s Community Notes emerges as a game-changer. Initially rolled out as Birdwatch in January 2021, Community Notes has transformed since Elon Musk’s takeover, establishing itself as a powerful fact-checking tool. 

Today, it enjoys a prominent presence, attaching context notes to tweets that garner massive attention, particularly those that touch upon polarizing political topics. However, per Buterin’s blog post, what sets Community Notes apart is its embodiment of crypto values despite not being a cryptocurrency project. A select group of experts does not curate it.

Instead, it relies on an open-source algorithm that anyone can contribute to, making it a beacon of decentralization in the digital world. As a result, anyone with a Twitter account that meets specific criteria (active for over six months, no recent rule violations, and a verified phone number) can join.

Initially, members can only rate existing notes, but with enough accurate ratings, they can also create their notes. According to sources, notes are scored based on reviews from other members, using a 3-point scale: HELPFUL, SOMEWHAT_HELPFUL, and NOT_HELPFUL. If a note scores above 0.40, it’s displayed; otherwise, it’s not.

On the same note, the scoring algorithm distinguishes Community Notes from other platforms. Instead of merely calculating an average or sum of users’ ratings, it prioritizes notes receiving positive ratings from individuals with diverse viewpoints. If members who typically disagree on note ratings concur on a particular note, it gets a higher score.

In summary, Twitter’s Community Notes is a promising initiative that harnesses the power of decentralized fact-checking. It offers a more transparent and neutral approach to combating misinformation by enabling diverse participation and prioritizing consensus across perspectives. Significantly, Community Notes embodies the values of decentralization and inclusivity, making it a valuable tool in the digital age.

The post Vitalik Hails Community Notes as a Fact-Checking Tool with Crypto Values at Heart appeared first on Every News Bite is Essential for Investment.

SNEAK PEEK

Emission surge rattles WLD’s future, prompting investor concerns.

Long-term viability hinges on stability and the market’s reaction.

Shifting trends drive WLD’s price volatility, warranting vigilant monitoring.

Worldcoin (WLD) announced an astounding 986.4% emission in the next 365 days. This translates to 1.22 billion new tokens in the market. As a result, prospective investors and cryptocurrency enthusiasts are concerned about the future value of WLD.

What Does This Imply for Long-Term Investors?

There is always an element of speculation when investing in cryptocurrency. The 1-year emission means that the rate of tokens unlocked and newly issued will be visible 365 days from now. Moreover, the fact that this emission represents an almost ten-fold increase warrants a closer look.

If you know that $WLD has a 986.4% emission in the next 365 days (1.22b $WLD ), what are your thoughts on holding this token for the long term?

That is the point you should consider, right?

With a 1-year emission, you will see the rate of tokens unlocked and newly issued in… pic.twitter.com/Ab4fG6uyNN

— Token Unlocks (@Token_Unlocks) August 14, 2023

Besides the obvious questions about the impact of this emission on the token’s value, other factors are at play. Significantly, the purpose behind this emission and the token’s broader strategic goals need to be considered. Additionally, the potential effects of this emission on the overall market dynamics cannot be ignored.

In this context, prospective investors need to analyze the risks and rewards of holding the $WLD token for the long term. Hence, the 1-year emission should be a point of serious consideration. The long-term sustainability of the token greatly depends on how stable it remains and how the market responds to this emission event.

However, in the past 24 hours, bears dominated the WLD market driving prices from a peak of $1.81 to an intraday low of $1.75. The price of WLD had decreased by 1.65% during this writing to $1.76 due to the ongoing adverse trend.

The market capitalization and 24-hour trading volume of WLD fell by 0.63% and 17.31%, respectively, to $221,704,743 and $45,578,747. This decline can be attributed to investors’ uncertainty and reluctance to make substantial investments in the WLD market until they observe a recovery.

WLD/USD 24-hour price chart (Source: CoinMarketCap )

The Money Flow Index (MFI) line is oriented southward and has a value of 22.24 on the WLD market’s price chart. This movement demonstrates the market’s bearishness and suggests that selling pressure may soon increase. Due to the likelihood that prices will fluctuate within a limited range, this move demonstrates moderate volatility in the WLD market.

According to the Aroon up and down readings of 21.43% and 100.00%, the WLD market is experiencing a significant downturn. This crossover indicates a higher likelihood that the market will soon continue to move downward. The market is experiencing more significant selling pressure than buying pressure, as evidenced by the significantly higher Aroon down value. 

On the 2-hour price chart of the WLD market, the Chande Momentum Oscillator (ChandeMO) is south facing and in the negative territory with a reading of -31.48. According to this motion, WLD’s market price has been rapidly declining lately, and it may be due for a brief bounce because it is currently oversold.

WLD/USD 2-hour price chart (Source: TradingView)

In conclusion, WLD’s emission surge sparks uncertainty, demanding vigilant analysis for potential long-term holding amidst shifting crypto currents.

Disclaimer: Cryptocurrency price is highly speculative and volatile and should not be considered financial advice. Past and current performance is not indicative of future results. Always research and consult with a financial advisor before making investment decisions.

The post Worldcoin Price Analysis 15/08: WLD’s Emission Surge Sparks Uncertainty, Impacting Investor Sentiment appeared first on Every News Bite is Essential for Investment.

SNEAK PEEK

Allegations of politicization emerge against SEC Chair Gary Gensler and other commissioners.

Deaton criticizes Gensler’s past roles and performance, especially in the CFTC under Obama.

SEC staff has a track record of apolitical professionalism despite commissioner scrutiny.

As the U.S. Securities and Exchange Commission (SEC) continues to navigate the rapidly evolving cryptocurrency landscape, claims of politicization have emerged. Attorney John E Deaton recently tweeted, questioning the objectivity of SEC Chair Gary Gensler and other commissioners. He highlighted Gensler’s longstanding affiliation with the Democratic party and suggested that political motivations might drive his decisions at the SEC.

The 5 Commissioners are political appointees thus, by definition, are political. @GaryGensler is a lifelong Democrat and Chair of the @CFTC under Obama, with both parties agreeing that he did a lousy job – just think MF Global. Of course, he served as Hilary Clinton’s CFO for her… https://t.co/g8sgf0qQiH

— John E Deaton (@JohnEDeaton1) August 14, 2023

Further, Deaton’s assertions gained traction after he pointed out Gensler’s history as a political appointee, notably his previous role as Chair of the CFTC under President Obama. Moreover, Deaton raised eyebrows by mentioning that Gensler had signed off on payments for the controversial Steele dossier while serving as Hillary Clinton’s CFO for her 2016 presidential campaign.

Contrastingly, former SEC employee John Reed Stark defended the agency’s integrity despite the allegations. Stark, who served for almost 20 years in the SEC Enforcement Division, stressed that while the commissioners themselves may appear increasingly political, the SEC staff has consistently maintained a remarkable level of apolitical professionalism. He explained that the SEC operates quite differently from other federal agencies, such as the U.S. Department of Justice (DOJ).

Very true Eleanor. The SEC Commissioners themselves have become increasingly political but the SEC staff, on the other hand, remains remarkably apolitical.

What makes the US SEC so different from agencies like US DOJ is not just their mandate and authority but also their…

— John Reed Stark (@JohnReedStark) August 14, 2023

Additionally, Stark highlighted that the SEC’s operational departments, like the Enforcement Division, are largely insulated from political influence. In contrast, the DOJ has many political appointees throughout its senior leadership. The few political appointees at the SEC typically work in supporting roles within offices like Legislative Affairs or Public Affairs.

Consequently, Stark cited the examples of Bill McLucas and Michele Layne, who served lengthy tenures at the SEC under chairs and commissioners from both major political parties. McLucas, now heading Binance’s defense team, spent more than 21 years at the SEC, while Layne dedicated over 25 years to the agency. Stark emphasized that their long, apolitical service is indicative of the culture within the SEC staff.

In conclusion, the SEC’s politicization allegations primarily focus on the commissioners. However, the agency’s staff has a track record of maintaining their independence and apolitical stance. As the SEC adapts to the rapidly changing cryptocurrency landscape, the need for fair and unbiased regulation remains a priority.

The post SEC Commissioners Face Scrutiny Amid Claims of Politicization appeared first on Every News Bite is Essential for Investment.

SNEAK PEEK

FedNow propels HBAR 15% higher, ushering in the micropayment revolution.

HBAR rockets on FedNow’s embrace, signalling a new era in financial transactions.

Micropayments surge as FedNow backs HBAR, affirming Hedera’s supremacy.

The US Federal Reserve’s instant payments system FedNow has added Dropp’s Hedera Hashgraph-based micropayments platform to its list of service providers. FedNow now supports Dropp, which facilitates micropayments in HBAR, USD, and USDC, causing the Hedera (HBAR) price to skyrocket by 15% within hours.

Hedera’s $HBAR + 15% on news that the U.S. Federal Reserve’s FedNow added a Hedera Hashgraph-based micropayments platform as a service provider.

FedNow is an instant payment service provider developed by the Fed for depository institutions in the U.S.

Source: @CoinDesk pic.twitter.com/aAKOxyNwDK

— Messari (@MessariCrypto) August 14, 2023

Banks and other financial service companies pursuing micropayment services can use Hedera’s Dropp platform for real-time payments through FedNow. In addition, Hedera is now indirectly supported by FedNow, giving the blockchain significant support from traditional financial institutions.

Consequently, the HBAR market experienced an upswing in the previous twenty-four hours, with prices increasing from $0.06391 to an intraday high of $0.07515.At press time, the ongoing favourable trend drove the price of HBAR up 13.08% to $0.07274. 

HBAR’s market capitalization and 24-hour trading volume increased by 15.79% and 167.35%, respectively, to $2,397,156,096 and $336,977,860. This surge indicates a considerable increase in HBAR’s market value and trading volume, likely influenced by market sentiment.

HBAR/USD 24-hour price chart (Source: CoinMarketCap )

The bullish outlook for the HBAR market is supported by a Fisher Transform reading of 3.28801328 and a move above its signal line, which indicates a potential buying opportunity for investors anxious to capitalize on the uptrend. If it breaks below its signal line, a shift toward bearish sentiment may be signalling, and traders should consider taking profits or reducing losses.

With a value of 75.66, the Chande Momentum Oscillator (ChandeMO) indicates that the market’s upward momentum may persist. This action may increase the price, bolstering traders’ confidence in the HBAR market and persuading additional investors to follow the upward trend.

HBAR/USD 4-hour price chart (Source: TradingView)

Bullish momentum is shown by the top and bottom Bollinger bands, which are at $0.07306925 and $0.05008394, respectively. As the bands widen and the market proceeds further north, it is anticipated that the upward trend in HBAR will continue. By taking this action, investors in HBAR are indicating that they may be considering a purchase due to expected price increases in the future.

The Aroon up and down readings of 100.00% and 14.29% indicate that HBAR is in a firm uptrend, and purchasing pressure is anticipated to persist. According to this pattern, traders may consider using stop-loss orders to protect themselves from abrupt market changes that could result in a price decline.

HBAR/USD 4-hour price chart (Source: TradingView)

In conclusion, HBAR’s meteoric rise on FedNow’s support showcases Hedera’s micropayment prowess, affirming its bullish trajectory and market dominance.

Disclaimer: Cryptocurrency price is highly speculative and volatile and should not be considered financial advice. Past and current performance is not indicative of future results. Always research and consult with a financial advisor before making investment decisions.

The post Hedera Price Analysis 15/08: HBAR Surges 15% with FedNow’s Micropayments Boost appeared first on Every News Bite is Essential for Investment.

SNEAK PEEK

Circle experienced significant activity over the past 24 hours, burning 360.9 million USDC and minting 288.8 million USDC.

Voyager redeemed 85 million USDC from Circle during the same period.

Voyager also transferred approximately $14.7 million worth of cryptocurrencies, including SHIB, ETH, LINK, MATIC, and CRV, to Coinbase.

Over the past 24 hours, Circle has witnessed a flurry of activity. The fintech company burned approximately 360.9 million USDC, a digital currency pegged to the US dollar. Additionally, it minted a new batch of 288.8 million USDC during this period.

Voyager, a prominent cryptocurrency trading platform, played a key role in this activity. Significantly, Voyager redeemed a substantial 85 million USDC from Circle within the same 24-hour period. Moreover, Voyager made substantial transfers to Coinbase, a major cryptocurrency exchange, via the Ethereum blockchain.

#PeckShieldAlert #Circle burned ~360.9m $USDC and minted 288.8m $USDC within the last 24 hours. This includes #Voyager, which redeemed $85m $USDC in the same period.#Voyager transferred a total of ~$14.7M worth of cryptos to #Coinbase on #Ethereum, including 300B $SHIB, 2.57K… pic.twitter.com/MnD38nhv4l

— PeckShieldAlert (@PeckShieldAlert) August 15, 2023

Consequently, Voyager moved around $14.7 million worth of cryptocurrencies to Coinbase. The transfers included 300 billion SHIB tokens, 2.57 thousand ETH, 234.66 thousand LINK, 1.87 million MATIC, and 30.19 thousand CRV. These transactions underscore the high liquidity and dynamic trading environment of the cryptocurrency market.

Besides these transfers, Voyager moved approximately 45 BTC, Bitcoin’s native currency, within the last 24 hours. This transfer reaffirms the ongoing demand for Bitcoin, the world’s first and most well-known cryptocurrency.

Hence, Circle’s burning and minting of USDC, combined with Voyager’s substantial transactions, indicate a robust cryptocurrency market. The high trading volume of diverse cryptocurrencies demonstrates their enduring popularity and the potential for continued growth.

Recently, InvestorBites shed light on a significant transaction involving Voyager Digital Ltd., a prominent player in the financial market. According to their report, Voyager Digital Ltd. has undertaken a substantial transfer, converting $150 million worth of USDC stablecoin into USD cash through a transaction with Circle.

Following this recent maneuver, the USDC token is experiencing a bullish sentiment, with bullish investors having observed a slight price increase of 0.01% in the past 24 hours. The current positive trend in the USDC market appears poised to persist, as evidenced by the uptick in its trading volume, which has surged by 13.23% and currently stands at 13.23%.

The post Circle Burns and Mints Millions of USDC Amid High Cryptocurrency Market Activity appeared first on Every News Bite is Essential for Investment.

SNEAK PEEK 

Kusama and Polkadot lead in development activity.

Hedera experiences a notable 13.1% price surge.

Ethereum platforms prominently feature in the top 10.

Development activity is an unwavering beacon of project momentum in the ever-evolving crypto landscape. Santiment’s recent data significantly unveils the top ten crypto assets, remarkably setting them apart by their notable GitHub commits in the last 30 days. 

Moreover, these insights highlight numbers and tell tales of dedication, innovation, and relentless pursuit. Consequently, those who track such vital indicators know precisely where the crypto winds blow. Hence, let’s dive into the specifics of these trailblazing assets.

Top 10 #crypto assets by development activity: notable #github commits, past 30 days:

T1 @Polkadot $DOTT1 @kusamanetwork $KSM3 @Cardano $ADA4 @hedera $HBAR5 @chainlink $LINK6 @dfinity $ICP7 @ethstatus $SNT8 @AptosLabs $APT9 @vegaprotocol $VEGA10 @cosmos $ATOM pic.twitter.com/n1ZRrKsBVe

— Santiment (@santimentfeed) August 14, 2023

According to Santiment’s insights, Kusama and Polkadot lead the pack, clinching the top position. Besides being in a tie for first place with 486.87 commits, Kusama, priced at $23.75, witnessed a modest 0.458% price increment. However, its market cap stands at $201.18M. Significantly, Polkadot, with a slightly lower price of $4.97, managed to capture a hefty $6.04B market cap.

Further, Cardano, priced at just $0.289549, took the third spot. While its price decreased by 1.16%, it boasts a commendable market cap of $10.14B. Additionally, the smart contract platform recorded 481.57 commits. Hedera, priced at $0.06471, experienced a remarkable 13.1% surge. Moreover, its development activity stood at 390.53 commits, placing it fourth on the list.

Following closely, ChainLink recorded a price of $7.42 and development activity of 369.8. Hence, it secured the fifth position. ChainLink functions on the Ethereum network, proving Ethereum’s vast ecosystem. Internet Computer (ICP), priced at $4.06 and 326.7 commits, sits in the sixth position. Significantly, its focus on cloud computing sets it apart.

The seventh position goes to Status, an Ethereum platform valued at $0.025056 and 320.4 commits. Consequently, its market cap hovers at $96.69M. Aptos, another blockchain network, is priced at $7.05 with 291.63 commits, placing it eighth. Vega Protocol, priced at $0.797171 with 283.23 commits, follows closely in ninth place.

Finally, Cosmos wraps up our top ten with a price of $8.46 and 276.23 commits. Notably, it’s recognized for its interoperability features. In conclusion, the past 30 days have been eventful for the crypto world. Development activities across various networks show their commitment to progress and innovation.

The post Santiment Unveils Top 10 Crypto Assets Based on GitHub 30-Day Development Activity appeared first on Every News Bite is Essential for Investment.

SNEAK PEEK

Kusama to present a showstopper AI talk at BCF 2023.

Kusama joins Hoskinson & Di Iorio in BCF’s stellar lineup.

Shiba Inu’s Kusama blends AI and insight in a must-watch session.

Shytoshi Kusama, the lead developer of Shiba Inu, is set to revolutionize how major presentations are delivered in the crypto world. At the Blockchain Futuristic Conference (BCF) in Toronto, Canada, Kusama will virtually grace the stage with an AI-assisted session. Titled “Dear Humanity: An Insider’s Perspective,” this presentation promises to merge human insight with the prowess of AI, possibly setting a benchmark for future conferences.

Grab your popcorn

Thanks to @CoinMarketCap, you can now join us at #Futurist23 virtually!

Get in on the fun & hear our iconic speakers in the industry discuss the future from anywhere in the world!https://t.co/1MnzZUn4yX

— Blockchain Futurist Conference (@Futurist_conf) August 14, 2023

From August 15th to 16th, BCF will see crypto bigwigs sharing their knowledge and insights over two days. Among these eminent personalities are Charles Hoskinson, the brains behind Cardano, and Anthony Di Iorio, the foundational force of Ethereum. With Kusama joining this illustrious lineup, the conference is set to provide attendees with a well-rounded and rich understanding of the crypto landscape.

The Shiba Inu team has made provisions for those unable to attend in person. “Can’t be in Toronto? No worries,” they proclaim. By tuning in virtually, crypto enthusiasts globally can witness Kusama’s AI presentation. The anticipation is palpable, with Shiba Inu hinting at an “electrifying” experience, advising potential viewers not to blink during what they’ve dubbed a “showstopper” session.

Can’t be in Toronto? No worries, tune in virtually to watch @ShytoshiKusama present ‘Dear Humanity: An Insider’s Perspective’ via AI. Trust us, it’s a showstopper! Don’t blink, this electrifying session is a must-watch! Join us tomorrow, 14:10 EDT #Futurist23 #SHIBARMY https://t.co/YTZz1BDBYQ pic.twitter.com/NtLmyqVgSp

— Shib (@Shibtoken) August 14, 2023

The crypto community, already abuzz with discussions about this conference, eagerly awaits Kusama’s innovative AI-centric approach. As many industry leaders attempt to demystify the intricate world of cryptocurrencies and blockchain, Kusama’s foray into blending human narrative with AI capabilities could herald a new era in tech presentations. As the conference kicks off, attendees and virtual viewers alike are set for what promises to be a transformative experience.

In this fast-evolving crypto world, innovations aren’t just about new coins or technology and how knowledge is shared. The presentation by Kusama is a glimpse of the future of global conferences.

The post Shiba Inu’s Kusama Merges Tech and Al in a BCF Presentation appeared first on Every News Bite is Essential for Investment.

SNEAK PEEK

Txbit.io is ceasing services on September 14, 2023, urging users to withdraw funds.

1.51 billion yet-to-circulate Txbit tokens (95.65% of the total) will be burned.

Txbit ensures a smooth transition for wrapped tokens and their contracts.

In a surprising turn of events, the renowned cryptocurrency platform, Txbit.io officially announced its demise of services come September 14, 2023. Expressing the decision with heartfelt emotion, the platform urges its devoted clientele to ensure all funds are withdrawn before the 12:00 PM UTC deadline on the above date. Although, delays might ensue due to a potential surge in withdrawal requests. Therefore, swift action is recommended.

It has been a difficult decision, and with heavy hearts and tears, we announce the closure of Txbit’s services on September 14th, 2023.

We kindly ask all our customers to withdraw their funds before 12:00 PM UTC on September 14th, 2023.https://t.co/JKxrG9PiQv pic.twitter.com/MVWm8UPtZQ

— txbit.io (@txbit_io) August 14, 2023

On the same note, on August 14, 2023, the platform will halt momentarily. This one-hour pause will serve to cancel all standing orders. Additionally, the trading features will be permanently disabled post this interval. 

Significantly, Txbit tokens are not heading into insensibility. The yet-to-circulate 1.51 billion tokens, which form a staggering 95.65% of the total supply, will undergo burning soon. However, enthusiasts can continue trading the Txbit token on Pancakeswap.

Further, Txbit isn’t leaving its wrapped token associates in a lurch. Based on sources, the exchange will connect with respective project developers to ensure a smooth transfer of wrapped tokens and their corresponding contracts.

To wrap it up, in the wake of this monumental shift, Txbit expressed deep appreciation for the unwavering support from their users. The company conveyed genuine remorse for any inconvenience their decision might cause. Their most profound hope is for all affiliated projects to realize their ambitions and goals. Even as Txbit’s chapter ends, the firm maintains optimism for the more comprehensive crypto narrative.

The post Crypto Giant Txbit Announces Its Grand Shutdown To Be September 14 appeared first on Every News Bite is Essential for Investment.

SNEAK PEEK

A large APE investor has withdrawn over $3 million in profits from the Binance exchange.

The RSI and MACD indicators suggest a bullish outlook for APE.

APE should close above $2.00 to continue its uptrend pattern.

According to Lookonchain data, a prominent cryptocurrency whale known as “Machi Big Brother” has withdrawn 1.14 million APE worth around $2.32 million from the Binance exchange. Machi Big Brother has garnered attention for adeptly buying low and selling high.

Machi Big Brother, who is good at buying $APE at lows and selling at highs, withdrew 1.14M $APE ($2.32M) 3 hrs ago.

From Aug 2, he started to accumulate $APE and has withdrawn 1.51M $APE (3.09M) from #Binance.

Is Now the Time to Buy $APE at the Bottom?https://t.co/eNbTtML30I pic.twitter.com/LzUsVuhW1q

— Lookonchain (@lookonchain) August 14, 2023

The investor started accumulating APE coin on Binance on August 2nd as prices declined. Machi Big Brother reportedly withdrew 1.51 million APE worth approximately $3.09 million from the exchange after the well-timed accumulation.

The large withdrawal of profits signals that Machi Big Brother believes APE may have bottomed or peaked at the lows of $1.78 from its value from its highs. The whale’s trading patterns around tops and bottoms provide insight for investors on potential market turning points.

Analysts think the large APE holder cashing out profits indicates shifting momentum and that current prices could offer an opportune entry point. However, investors should conduct their due diligence rather than rely solely on whale activities.

ApeCoin Price/Technical Analysis: APE Climbs Above $2.00 Progressing the Uptrend Pattern

Today’s ApeCoin price analysis shows the APE token continuing its bullish outlook. After reclaiming a crucial $2.00 level, buyers have pushed its price up further beyond this key resistance zone. APE is trading at around $2.08 at press time, with a 4.24% increase in the past 24 hours and almost 12% gains in the last 7 days.

APE/USD Daily Chart, By: CoinMarket Cap

APE has been forming higher highs and higher lows in an uptrend pattern. If APE continues to increase, traders can expect its next target to be set at $2.15 before it could reach new highs above $2.20. Conversely, a move below $2.00 would invalidate its bullish momentum and could lead to APE breaking down toward the support near $1.80.

APE’s market capitalization currently stands at around $769 million, ranked as the 53rd largest cryptocurrency by market capitalization. The market cap has slightly increased today after the token rose above $2.00. The daily trading volume has increased from yesterday’s close to $118 million at press time, according to CoinMarketCap data.

The 4-hour chart for ApeCoin price analysis shows that the Relative Strength Index (RSI) currently trades at around 71, indicating an overbought market sentiment. In addition, the MACD indicator is still bullish and is currently in an upward momentum trend. If these indicators remain in their current positions, then APE could continue to climb higher from its current price.

APE/USD 4-hour chart, By: TradingView

Furthermore, the Bollinger band is widening, indicating the market’s volatility. APE trades alongside the upper band on the daily chart, which could lead to a potential breakout above $2.10 if buyers maintain their momentum. The lower band is currently at $1.82, which can be used as a key support level in case of any bearish pullbacks.

Overall, ApeCoin price analysis shows that APE is in a bullish trend and could continue climbing higher. The whale’s profit-taking may have provided an ideal entry point for investors, but caution should still be taken before entering any positions. Monitoring the market sentiment and technical indicators before making any decisions is important.

Disclaimer: Cryptocurrency price is highly speculative and volatile and should not be considered financial advice. Past and current performance is not indicative of future results. Always research and consult with a financial advisor before making investment decisions.

The post ApeCoin Price Analysis 14/07: Whale Cashes Out Profits as APE Surges High appeared first on Every News Bite is Essential for Investment.

SNEAK PEEK

Pro-Bitcoin Milei leads Argentina’s election with calls to abolish the central bank and embrace crypto.

Milei’s Bitcoin advocacy resonates with voters seeking unconventional economic solutions.

Milei’s surprising lead reflects a hunger for change and a potential impact on Argentina’s future.

According to recent reports, pro-Bitcoin candidate Javier Milei has emerged as the front-runner in Argentina’s primary presidential election. With 84% of the vote counted, Milei, representing the “La Libertad Avanza” (Freedom Advances) party, secured 30.73% of the votes, surpassing candidates from “Juntos por el Cambio” (Together for Change) and “Unidos por la Patria” (United for the Homeland) parties, who received 28.14% and 26.84% respectively.

Milei’s libertarian stance has garnered attention due to his calls to abolish the central bank and his favourable view of Bitcoin. He has criticized the central bank as a means for politicians to exploit the public through inflationary taxation, describing it as a “scam.” Moreover, Milei believes that Bitcoin can potentially return money to its original creator, the private sector.

Interestingly, while Milei is known for his pro-Bitcoin sentiments, he has not endorsed using cryptocurrency as legal tender within Argentina, unlike El Salvador’s approach. Instead, he advocates for a “dollarization” of the economy, which could address the country’s triple-digit inflation rate.

With none of the candidates likely to secure more than 45% of the votes, a general election is scheduled for October among the winners of each party. A final runoff vote will occur in November if no candidate reaches the 45% threshold in the second round.

The current state of the cryptocurrency market sees Bitcoin trading at $29,381.07, according to CoinMarketCap. In the past 24 hours, a trading volume of $10,640,154,326 has been recorded. 

Despite its dominance in the market, Bitcoin has seen a slight decrease of 0.01% in the last 24 hours. As per CoinMarketCap, Bitcoin continues to hold its top rank with a staggering market capitalization of $571,663,798,255. Currently, there are 19,456,875 BTC coins in circulation, edging closer to its maximum supply limit of 21,000,000 BTC coins.

The post Pro-Bitcoin Maverick Takes Lead in Argentina’s Presidential Race appeared first on Every News Bite is Essential for Investment.

SNEAK PEEK:

The new Cryptocurrencies Hub empowers users to trade, store, and transfer digital currencies seamlessly.

PayPal’s stablecoin, PYUSD, allows easy conversion between cryptocurrencies and stablecoins.

Enhanced security involves biometric data or photo submission during setup.

PayPal has introduced its Cryptocurrencies Hub, reshaping the landscape for digital asset management and trading. The widely-used payment platform now enables users not only to hold balances in various cryptocurrencies but also to engage in seamless trading activities within its interface.

Termed the Cryptocurrencies Hub, this feature empowers users to trade, store, withdraw, and transfer an array of digital currencies. A unique facet of this offering is the integration of PayPal’s stablecoin, PYUSD, allowing conversion between cryptocurrencies and the stablecoin.

However, there’s a twist to ownership. While users will have a balance in their Cryptocurrencies Hub, they won’t hold direct ownership of the digital assets. Instead, custody, trading, and transfer services will be handled by Paxos or other approved service providers, ensuring a secure and reliable environment.

To gain access to this innovative hub, users must fulfill specific criteria. A verified PayPal account, along with a standing Balance Account, is a prerequisite. Additionally, users need to provide personal information like name, physical address, date of birth, and taxpayer identification number for verification purposes. For security reasons, the Cryptocurrencies Hub mandates access only through a verified PayPal account.

Enhanced security measures further heighten user confidence. To prevent unauthorized access, identity verification is a mandatory step during the initial setup. This includes submitting biometric data or a photo for authentication. PayPal emphasizes that users are responsible for safeguarding their account credentials and codes.

As a testament to its commitment, PayPal assures that the user’s profile will consistently reflect updated information, maintaining accuracy in their details. Regrettably, residents of Hawaii are currently excluded from accessing the Cryptocurrencies Hub.

The unveiling of the Cryptocurrencies Hub follows closely on the heels of PayPal’s imminent launch of PYUSD stablecoin, previously known as Binance USD (BUSD). Issued by Paxos, this stablecoin adds a unique dimension to PayPal’s crypto endeavors. PayPal’s Cryptocurrencies Hub marks a turning point in crypto integration within mainstream finance.

The post PayPal Redefines Crypto Landscape with Innovative Cryptocurrencies Hub appeared first on Every News Bite is Essential for Investment.

SNEAK PEEK

Zunami Protocol suffered a $2.1 million hack via price manipulation.                                                

Attackers exploited vulnerabilities using flash loans.

Curve Finance faces recurring security challenges.

In a twist that no one saw coming, Zunami Protocol, the prominent DeFi yield farming aggregator, experienced a staggering $2.1 million loss from its Curve Finance liquidity pool. Moreover, the method employed was all too familiar to those well-acquainted with blockchain dynamics.

1. the attacker took flashloan from balancer pic.twitter.com/h0zxuCPDxL

— Ironblocks (@Ironblocks_) August 14, 2023

According to Ironblocks, the attacker smartly leveraged a flash loan from Balancer. Consequently, they bolstered liquidity, drastically influencing the Zunami exchange’s price. After the substantial price shift, they promptly drained the liquidity. 

Further, they reverted the flash loan with the revised price, pocketing a hefty 1,152 ETH. Hence, as Ironblocks briefly put it, this was a “classic price manipulation.” Additionally, PeckShield, another blockchain analysis firm, quickly detected and announced the attack. 

Hi @ZunamiProtocol Today’s hack leads to >$2.1m loss and there are two hack txs involved: – tx1: https://t.co/jsOmPT62mk– tx2: https://t.co/u7YOvoS0R9

It is a price manipulation issue, which can be exploited by donation to incorrectly calculate the price as shown in the… https://t.co/yqwMVy0pCA pic.twitter.com/OfrDni7KtE

— PeckShield Inc. (@peckshield) August 14, 2023

Their analysis revealed two separate transactions involved in the hack, with the losses amounting to $2.1 million. In addition, they highlighted a critical vulnerability: price manipulation can lead to miscalculations in donation values.

Reacting promptly, Zunami advised its users to halt any acquisitions of zETH and UZD. The fallout from the hack was catastrophic. The Zunami USD stablecoin (UZD) saw its value virtually wiped out, plunging over 99%. Meanwhile, Zunami Ether (zETH) didn’t fare much better, dropping over 88% to a meager $206.

Please do not buy zETH and UZD at the moment, their emission has been attacked.

— Zunami Protocol (@ZunamiProtocol) August 14, 2023

However, the stolen funds didn’t remain visible for long. The attacker swiftly moved them through the coin mixer, Tornado Cash.

Besides Zunami, Curve Finance, too, has been grappling with security challenges. Their woes continue as they race against time to reclaim nearly $19 million, enticing whistleblowers with a tempting $1.8 million reward.

In conclusion, as DeFi platforms promise high returns, they must equally prioritize and reinforce security mechanisms. This incident serves as a stark reminder of the importance of proactive protection in the dynamic world of blockchain.

The post Zunami Protocol Hit with $2.1 Million Loss in Sophisticated DeFi Heist appeared first on Every News Bite is Essential for Investment.

SNEAK PEEK

Investor optimism prevails despite SAND’s temporary dip after token unlock.

Bearish pressure grips SAND price, yet potential trend reversal looms.

Market challenges spur increased trading volume as bears control SAND.

The high percentage of addresses holding SAND being “Out of the Money” shows that many investors may be experiencing losses at the current price. However, unlocking 332 million SAND tokens today could create selling pressure and temporarily dip the price.

Nonetheless, considering the upside potential after the effects of the unlock, investors remain optimistic about SAND’s future performance.

#Sandbox | Talk about max pain! Data from @intotheblock reveals 95.47% of all addresses holding $SAND are currently “Out of the Money.”

With today’s 332 million #SAND unlock, we may see a dip. Still, I believe in its upside potential after the effects of the unlock. https://t.co/vtKA2fQMlq pic.twitter.com/hJc4o3im2k

— Ali (@ali_charts) August 13, 2023

Consequently, over the past 24 hours, bears controlled the Sandbox market (SAND), pushing the price from $0.4014 to a low of $0.3912. SAND’s price has dropped by 1.67% during this writing to $0.3947 due to sustained bearish pressure.

Amid the downturn, market capitalization fell by 1.62% to $811,921,836, while 24-hour trading volume surged 62.64% to $87,321,155. The recession reduced investor confidence, causing a decline in market capitalization. Simultaneously, the increased trading volume suggests investors capitalizing on lower stock prices during the downturn.

SAND/USD 24-hour price chart (Source: CoinMarketCap )

On the price chart for SAND, the Aroon up rating of 35.71% and the Aroon down rating of 85.71% indicates a significant downward trend. The high Aroon down rating suggests that SAND has repeatedly made lower lows and may continue to decline. 

If the Aroon down rating continues to rise, it may suggest that the downward trend in SAND prices will persist. Nonetheless, if the Aroon up rating begins to rise and surpass the Aroon down rating, this may signal a potential reversal in the negative trend.

The Keltner Channel bands are moving south, with the upper band at 0.40670751 and the lower band at 0.39757559, indicating that the SAND’s bearish momentum is robust and likely to persist for the foreseeable future. This move reflects traders’ expectation that the price of SAND will continue to decline swiftly, but short-term traders may have an excellent opportunity to profit.

SAND/USD 4-hour price chart (Source: TradingView)

The SAND’s RSI value of 36.54 and recent decline below its signal line indicate that it is currently trading in an unfavorable market, making it a potential buy for investors seeking to profit from current market conditions. This decline indicates that selling pressure is more significant than buying demand, suggesting that the value of SAND will continue to fall.

On the 4-hour price chart for SAND, the Balance of Power (BOP) indicator points south and has a value of 0.10, indicating increased selling pressure and possibly the start of a bearish trend. Even though the price of SAND has decreased, a substantial price increase may be imminent.

SAND/USD 4-hour price chart (Source: TradingView)

In conclusion, navigating SAND’s challenges, investor optimism endures amid bearish pressure and potential trend shifts, hinting at a dynamic market ahead.

Disclaimer: Cryptocurrency price is highly speculative and volatile and should not be considered financial advice. Past and current performance is not indicative of future results. Always research and consult with a financial advisor before making investment decisions.

The post The Sandbox Price Analysis 14/08: SAND’s Dip Sparks Optimism and Reversal Potential appeared first on Every News Bite is Essential for Investment.

SNEAK PEEK

WLD market defies bears, luring investors with a solid upward trend.

Positive WLD momentum persists as prices rise amid reduced trading volume.

Technical indicators support WLD’s uptrend, encouraging investor confidence.

Despite bears’ failed attempts to lower prices over the past 24 hours, the Worldcoin (WLD) market has acquired positive momentum, attracting investors and signaling a possible investment opportunity. WLD’s upward trend appears poised to continue, with support and resistance levels at $1.68 and $1.76. 

At the time of this update, the price of WLD had increased by a staggering 2.96%, reaching $1.74 due to this ongoing positive trend. 

The market capitalization of WLD rose by 3.72% to reach $217,319,350. However, the trading volume in the past 24 hours experienced a decline of 34.23%, amounting to $67,514,660. This movement indicates that while there might be reduced trading activity for WLD in the short term, investors maintain their confidence in the market’s promising long-term outlook.

WLD/USD 24-hour price chart (Source: CoinMarketCap )

On the 4-hour price chart for the WLD/USD, the up and down Donchian Channels (DC) readings are 1.96094153 and 1.65061288, respectively. With the price remaining within a narrow range between the upper and the lower limit of the DC, this indicates that the WLD/USD has experienced relatively low volatility over the past four hours.

The WLD/USD market’s bullish outlook is supported by a Fisher Transform reading of 0.26 and a move above its signal line, indicating a possible purchasing opportunity for investors seeking to capitalize on the uptrend. If it breaches below its signal line, the bearish sentiment may signal, and traders may want to consider taking profits or reducing losses.

WLD/USD 4-hour price chart (Source: TradingView)

The Chande Momentum Oscillator (ChandeMO) is rising with a reading of 13.68, indicating that the market’s upward momentum may persist. This action contributes to a price increase, bolstering traders’ confidence in the WLD market and convincing other investors to follow the upward trend.

The upper and lower Bollinger bands are located at 1.95987840 and 1.61158589, respectively, indicating bullish momentum. As the bands widen, it is anticipated that WLD will continue its ascent. WLD investors are signaling that they may be considering a purchase shortly due to anticipated price increases.

WLD/USD 4-hour price chart (Source: TradingView)

In conclusion, WLD’s bullish surge persists, with metrics aligning for potential gains. Investors ride the upward wave, eyeing promising prospects ahead.

Disclaimer: Cryptocurrency price is highly speculative and volatile and should not be considered financial advice. Past and current performance is not indicative of future results. Always research and consult with a financial advisor before making investment decisions.

The post Worldcoin Price Analysis 12/08: WLD Defies Bears, Luring Investors with a Solid Upward Trend and Potential Gains appeared first on Every News Bite is Essential for Investment.

SNEAK PEEK

Trump revealed $250K-$500K Ethereum-linked NFT assets.

Trump’s NFTs amassed over $8.9 million in sales.

Despite past skepticism, Trump ventures into crypto.

Former President Donald Trump has emerged as an unexpected player in the crypto arena, revealing ownership of assets valued between $250K to $500K in a cryptocurrency wallet. Notably, the assets were mainly consisting of Ethereum. These holdings have been unveiled through a recent financial disclosure, shedding light on Trump’s foray into the world of non-fungible tokens (NFTs).

According to reports, Trump’s cryptocurrency assets appear closely tied to a series of NFTs, which he introduced following his departure from the White House. The former president’s innovative venture involved a limited edition collection of 44,000 NFTs, portraying him in various imaginative roles such as a hunter, welder, and even a superhero. 

Moreover, these digital collectibles’ $99 price tag resulted in an astounding sell-out within a single day. Subsequently, Trump and his partner, NFT INC LLC, launched a second batch in April, which also garnered substantial demand and promptly sold out.

Astonishingly, the total sales from these NFTs have now surged past $8.9 million, underscoring the significant demand for Trump’s unconventional digital collectibles. Financial reports show that Trump pocketed this enterprise’s impressive $298,000 licensing fees. These earnings have been channeled through the same Trump entity, CIC Digital, linked to the cryptocurrency wallet containing his Ethereum assets.

Though Trump’s overall net worth is estimated to be around $2.5 billion, the business magnate seems keen on diversifying his portfolio by delving into cryptocurrency. This stance is noteworthy, given Trump’s past skepticism about Bitcoin and other cryptocurrencies. In a tweet from April 2019, he expressed his reservations, branding them as lacking inherent value and susceptible to facilitating illicit activities.

On the other hand, Trump’s NFT venture has also managed to avoid the legal scrutiny that has befallen other areas of the cryptocurrency industry. While the SEC has been actively pursuing regulatory measures against celebrity endorsements in the broader crypto realm, it has refrained from targeting NFT creators and enterprises.

In conclusion, the revelation of Trump’s Ethereum assets connected to his NFT venture marks a significant twist in the cryptocurrency narrative, showcasing his ability to tap into unconventional revenue streams with his business acumen.

The post Financial Reports Unearthed Former President, Donald Trump, $250K Crypto Cache appeared first on Every News Bite is Essential for Investment.

SNEAK PEEK

Cronos price analysis shows a bearish market sentiment today

CRO is trading at $0.0572, down by 0.40 percent

Resistance and support levels are set at $0.0574 and $0.0570 respectively

Cronos faces bearish market sentiment today as the price continues to trade in a descending channel and sellers maintain selling pressure. The market has been trading in a narrow range for the past few days, with the price hovering around the $0.0570 mark and volume remaining low.

CRO/USD Daily Chart, By: CoinMarket Cap

CRO is currently trading at $0.0571, down by 0.40 percent over the last 24 hours. The token has witnessed resistance and support levels set at $0.0574 and $0.0570, respectively. Yesterday, the price touched a high of $0.0575 and failed to break through resistance, thus indicating that the sellers are in control of the market.

Crono’s trading volume has been relatively low, with only $5 million worth of CRO tokens traded in the last 24 hours. The descending channel will continue if the selling pressure remains strong and buyers fail to step in. The market capitalization of CRO currently stands at $1.4 billion, with a supply of 25,263,013,692 CRO tokens in circulation.

The daily chart for Cronos price analysis shows a downtrend as the price continues to move lower in a descending channel. In the past 24 hours, the price has been trading negatively and is likely to continue in the same direction. The MACD for CRO shows a bearish signal as the histogram moves lower, and the MACD line crossing below the signal line reflects a downward momentum.

CRO/USD 1-day chart, By: TradingView

The Relative Strength Index (RSI) indicator indicates a bearish sentiment as the signal line continues to dip and reach closer to the oversold zone. The RSI is currently at 41.72, and any further drop may indicate an extreme sell-off in the coming days. CRO is trading below the 20-day EMA and 50-day EMA, which shows that the price is in a bearish zone.

If buyers can break through the resistance set at $0.0574, CRO could have a chance of recovery. However, for now, the bearish sentiment will likely prevail and drive the price lower in a descending channel.

Overall, Cronos’s price analysis shows that the bearish sentiment will likely continue in the market. The token is trading at $0.0572, and any further drop could drag it closer to $0.0570. The sellers are in control of the market, and until buyers can break through resistance, the downtrend will likely continue.

Disclaimer: Cryptocurrency price is highly speculative and volatile and should not be considered financial advice. Past and current performance is not indicative of future results. Always research and consult with a financial advisor before making investment decisions.

The post Cronos Price Analysis 12/08: CRO’s Descending Channel Continues as Price Touch $0.0570 appeared first on Every News Bite is Essential for Investment.