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The Crypto Basic
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The group of developers behind the Floki project plans to burn around 2% of the asset’s circulating supply, amounting to 190,918,585,431 tokens.
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#CryptonewswithJack
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"TRX Bulls Are Back! Tron’s Rally to $0.40 Is Just Getting Started"
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#Ethereum is approaching a key breakout from a triangle pattern, with bulls eyeing the $2,000 mark. At $1,623, Ethereum has registered an intraday recovery of 1.60% at the time of writing. This bullish comeback is on the verge of erasing Sunday’s 2.8% drop from the $1,650 mark. Ethereum’s recovery has brought it to the apex of a triangle pattern. Amid improving broader market sentiment, Ethereum’s chances of a breakout are steadily increasing. Will this push ETH toward the psychological $2,000 level? Ethereum’s Recovery Rally Nears Key Breakout, Bulls Target $2,000 In the 4-hour price chart, the recent bullish turnaround from the $1,418 level marks a significant recovery for Ethereum. The higher high formation in Ethereum led to a local support trendline. The overhead resistance near $1,675, coinciding with the 38.2% Fibonacci level, highlights the top of an ascending triangle pattern. A longstanding resistance trendline also creates a symmetrical triangle pattern on the 4-hour chart. Also, technical indicators are showing a bullish trend. The Supertrend indicator suggests an uptrend is in motion, and the 4-hour RSI, remaining above the halfway mark, reflects strong bullish momentum. These indicators maintain an optimistic outlook for Ethereum. As Ethereum approaches the apex of the triangle, price action traders are expecting a high-momentum move in either direction. According to Fibonacci levels, a bullish breakout could target the 78.6% Fibonacci level at $1,948. This would increase the chances of Ethereum reaching the $2,000 psychological level. However, a potential breakdown could retest the $1,418 support level. #CryptoNewsFlash
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#Cardano founder Charles Hoskinson has reacted to the recent OM token fallout, reiterating Cardano’s consistency amid transparency concerns in the Mantra ecosystem. The Cardano founder weighed in on the Mantra token dump in an X post. While some expected his expert thoughts on what actually happened, Hoskinson focused on Cardano’s consistency over the years despite widespread criticism. Hoskinson Slams Anti-Cardano Preachers Per the tweet, the Input Output Global CEO seemed to taunt key opinion leaders (KOL) who branded Cardano a “dionchain” or “ghost chain” and touted a dollar-cost average (DCA) into the “next big thing” like Mantra. He references the recent occurrence as proof of Cardano’s consistency. The Cardano network is not new to widespread criticisms. Several comments have branded the layer 1 network a ghost chain with outdated technology. One such comment came from a 2021 CoinDesk report, which sparked a reaction from Hoskinson. The media described Cardano as a vaporware network with fading relevance in the blockchain industry. Furthermore, Macro Investor Global’s CEO, Raoul Pal, previously argued that Cardano is dead, advising crypto enthusiasts to divest from “cults” like ADA and XRP to newer tokens with better potential. Nonetheless, the ecosystem has remained generally bullish despite this, with many other such analysts redressing their steps later on to acknowledge Cardano’s giant strides. The Cardano founder had this in mind while taunting prominent market players whose call to DCA into tokens like Mantra has backfired. What Happened with Mantra? The layer 1 network’s native token, OM, was in the news over the weekend over transparency issues, which saw its token crash by over 90%. The OM token plummeted from $6.35 on Sunday to $0.37 in a few hours, reliving the Terra Luna capitulation in 2022. While market participants have made several claims, the most recurring in their statements has been massive sell-offs due to skepticism from the transparency of the Mantra team.... #CryptoNewsCommunity
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"No Moon for XRP: Price Won’t Soar After Ripple Case, Expert Warns"
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$50 Million XRP Transfer to the US Government — Is This the Beginning of a Crypto Reserve Strategy?
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Whale Address Sells Bitcoin at a Loss, Reports BlockBeats
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