Category: altcoin

Bitcoin (BTC) is down roughly 8% for the week, but a positive sign is that the bulls aggressively purchased the weekly lows. After the recovery, analysts remain divided on the next directional move. Some expect the correction to deepen, while others anticipate the uptrend to resume. Bitcoin’s rebound on Dec. 20 failed to attract investors…

Securitize, the brokerage firm for the tokenized BlackRock US dollar Institutional Digital Liquidity Fund (BUIDL), has submitted a Frax improvement proposal to add BUIDL as backing collateral for the Frax USD stablecoin. According to the improvement proposal, using BUIDL as a collateral reserve asset provides yield opportunities, deeper liquidity and transfer options, and reduced counter-party…

Tai Mo Shan, a subsidiary of Jump Crypto, agreed to settle with the United States Securities and Exchange Commission (SEC) for $123 million on Dec. 20 for misleading investors about the stability of the TerraUSD (UST) algorithmic stablecoin before its collapse. According to the SEC, Tai Mo Shan penned an agreement with Terraform to purchase…

Top Stories of The Week Hawk Tuah influencer speaks out after memecoin rug pull allegations Haliey Welch, the influencer behind the viral “Hawk Tuah” video clip, has released a statement after a memecoin bearing her handle was pumped and dumped quickly after its December launch. In a Dec. 20 X post, Welch said she was…

Spacecoin XYZ has launched its first-ever satellite into orbit, marking the project’s first step toward bringing a fleet of satellites online that would allow blockchain networks to be secured in outer space.  Speaking to Cointelegraph, Spacecoin XYZ co-founder Daniel Bar said the first officially standardized satellite was the first major milestone in bringing the “Spacecoin…

Restaking protocol EigenLayer’s slashing testnet went live on Dec. 20, with a mainnet launch pending approval of EigenLayer Improvement Protocol-002 (ELIP-002). The potential slashing upgrade will introduce Unique Stake Allocation for node operators and Operator Sets for Actively Validated Services (AVS) on EigenLayer. EigenLayer’s Actively Validated Services are projects that leverage the security of the…

Stablecoins locked onto Ethereum layer-2 networks have reached a new all-time high, showcasing rising demand for cryptocurrencies. The stablecoin supply to all blockchains combined is dominated by Tether (USDT), USD Coin (USDC) and Ethena’s stablecoin, USDe. As of  Dec. 20, the Ethereum blockchain held $13.5 billion worth of stablecoins, according to data from Tie Terminal,…

With the end of the year in sight, Asia Express looks back at some of the most significant developments for Bitcoin and cryptocurrency in the region in 2024. MicroStrategy’s Bitcoin blueprint  MicroStrategy has become the poster child for Bitcoin, snapping up 439,000 BTC, according to BitcoinTreasuries.NET — around 2% of the entire supply. Across Asia,…

Solana’s native token, SOL (SOL), is down 3% on Dec. 19 amid significant corrections across the broader crypto market.  Data from Cointelegraph Markets Pro and TradingView shows SOL trading at $210, 20% below its $264 all-time high reached on Nov. 24.  SOL/USD daily chart. Source: Cointelegraph/TradingView Let’s look closer at the factors driving SOL price…

Bitcoin and the wider crypto market sold off as the Fed announced a 25 basis point rate cut to its benchmark policy rate and signaled that fewer rate cuts than initially planned could take place in 2025.  Following Fed chair Jerome Powell’s post-rate cut presser, Bitcoin (BTC) price dropped 4.6% to $101,300, while Ether (ETH)…

Ether (ETH) price has declined 6.35% from its Monday high of $4,109 this week after the altcoin formed a bearish engulfing pattern on the daily chart. This is ETH’s third rejection at $4,000 in 2024, a level proving to be a strong weekly resistance during the past two attempts earlier this year. Ethereum 1-week chart.…

Pudgy Penguins’ native token, PENGU, is down more than 50% in the first hours of trading after the non-fungible token (NFT) project’s much-anticipated Dec. 17 airdrop.  The project has distributed approximately half of PENGU’s total supply of nearly 89 billion tokens to community members, with around 26% earmarked for NFT holders, according to Pudgy Penguins’…

XRP (XRP) price is up today, rising by nearly 4.5% over the last 24 hours to reclaim the $2.50 level amid investor excitement over the official launch of Ripple’s RLUSD stablecoin.  XRP/USD daily chart. Source: Cointelegraph/TradingView Let’s take a closer look at the factors behind XRP’s momentum today. XRP price boosted by RLUSD stablecoin launch…

Decentralized finance (DeFi) protocol Ether.Fi has proposed allocating a portion of protocol revenues to buy back native ETHFI tokens and distribute them to stakers, according to a post in Ether.Fi’s community governance forum. Ether.Fi has proposed “allocating 5% of protocol revenue to buy ETHFI and distribute it to ETHFI stakers as a reward” in a…

A man posing as an Uber driver in Scottsdale, Arizona, was reportedly arrested after allegedly stealing a combined $300,000 of crypto from two unsuspecting passengers. According to a Dec. 12 report from Fox10 Phoenix, the Scottsdale Police Department alleged that Nuruhussein Hussein lured victims waiting outside the W Hotel in Scottsdale in March and again…

OpenAI co-founder Ilya Sutskever recently gave a lecture at the Neural Information Processing Systems (NeurIPS) 2024 conference in Vancouver, Canada arguing that the age of artificial intelligence pre-training is ending and forecasted the rise of an AI superintelligence. According to Sutskever, increasing computing power through better hardware, software, and machine-learning algorithms outpaces the total amount…

JPMorgan raises price targets on Bitcoin mining stocks Analysts at JPMorgan raised price targets for four Bitcoin mining stocks to reflect value from the miners’ electrical power assets and BTC holdings, according to a Dec. 10 report shared with Cointelegraph.  The mining operations to see upgrades include MARA Holdings (MARA), CleanSpark (CLSK), Riot Platforms (RIOT)…

A cryptocurrency trader has reportedly turned a $27 investment in the Pepe memecoin into an extraordinary $52 million profit, according to blockchain analytics firm Lookonchain. An unknown Pepe (PEPE) trader bagged the life-changing profits, crypto intelligence firm Lookonchain revealed in a Dec. 14 X post. “A $PEPE whale that had been dormant for 600 days…

Bitcoin (BTC) continues to witness a tough battle between the bulls and the bears near the $100,000 level. A positive sign is that the bulls have not ceded much ground to the bears, increasing the likelihood of an upside breakout. Bitfinex head of derivatives Jag Kooner said that the rate cut by the People’s Bank…

Ether is setting up for a rally above $5,000, coined as a “minimum target” by crypto analysts anticipating a cycle top above $15,000 for the world’s second-largest cryptocurrency. In the wider crypto space, Avalanche closed a $250 million private locked-token sale from over 40 companies ahead of Avalanche9000, purportedly the most important upgrade in the…