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The Crypto Basic
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If the United States Securities and Exchange Commission (SEC) approves the necessary filings, prospective spot Bitcoin ETF issuers are ready to hit the road as early as next week by offering trading services.
#BitcoinETFUpdate
#SECApprovalJourney
#CryptoExpectation
#CryptoNewsđđ°đ«
#CryptonewswithJack
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"Solana Bulls Fight Back at $124! Is a $150 Comeback Written in the Charts?"
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#VeChain retests its falling wedge breakout as selling pressure intensifies. Can VET hold above $0.020, or will a drop to $0.018 follow? With the altcoin market down 2% this week, VeChain is facing renewed selling pressure. After an 8% decline on April 15, the bearish trend continues, with VET registering a 3.57% intraday drop. Currently, the VeChain token is retesting the breakout from a falling wedge pattern. However, growing supply pressure suggests a deeper correction toward $0.018 could be on the horizon. VeChain Price Analysis Warns $0.020 Breakdown On the daily chart, VET shows a breakout from a falling wedge pattern. However, the breakout rally failed to surpass the 50-day EMA near $0.025. Two consecutive Doji candles over the weekend signal market uncertainty. Bears have regained control, forming an engulfing red candle with an 8% drop, completing an evening star pattern. The bullsâ failure to break above the 50-day EMA coincides with rejection at the 78.6% Fibonacci level at $0.02574. Currently, VET trades at $0.02173, holding just above the broken resistance trendline. As the failed breakout takes a bearish turn, the daily RSI has dipped below the midpoint, indicating weakening bullish momentum. This increases the likelihood of a new downswing. Furthermore, the 50-day, 100-day, and 200-day exponential moving averages remain in a bearish alignment. New Partnerships Add Credibility and Support Despite price volatility, VeChain has secured several high-profile partnerships over the past week, reinforcing its credibility in the market. In a recent post, crypto analyst Michael Van De Poppe praised VeChainâs partnership with UFC CEO Dana White, who joined as an official advisor. This could pave the way for further influential partnerships. Additionally, the analyst highlighted VeChainâs collaboration with 4ocean, aiming to combat plastic pollution through blockchain technology. #CryptoNewsCommunity
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"PEPE Just Hit $0.000007 â Is a Massive $2.63M Long Squeeze Imminent?"
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#Ripple CTO David Schwartz issued a warning to XRP holders after pro-XRP lawyer John Deaton made a suspicious post on X (formerly Twitter). This comes after attorney Deaton took to X to promote Arch Public, a crypto firm claiming to utilize algorithmic automation to level the playing field for investors. In the post, Deaton claimed he had started working with the Arch Public team and set up an account on the leading crypto exchange Gemini to run âXRP and Bitcoin Algos.â He suggested that the initiative would help to âproduce cash yieldâ as users âadd more XRPâ to their accounts. Strange Post? However, the post did not go down well with many long-term followers of Deaton, who found it strange. This stems from the fact that Deaton barely endorses crypto-related projects through his X account. His posts usually center on crypto law, industry regulation, and, most recently, U.S. politics, which saw him vie to become Massachusetts Senator in the last election. Deaton is a popular figure in the crypto community, particularly XRP, following his contributions in the SEC v. Ripple lawsuit, where he represented XRP holders. His recent endorsement of Arch Public, a project with less than 3,000 X followers, raised some eyebrows among XRP proponents. Ripple CTO Issues Warning As a result, Ripple CTO David Schwartz issued a warning to the broader XRP community about the post. Schwartz emphasized that the post looked âwrong in several ways.â Therefore, he urged XRP enthusiasts to remain cautious until there is evidence that Deatonâs account has not been hacked. Notably, the former U.S. Senate candidate was a victim of an X hack in 2023. Then, The Crypto Basic reported how malicious actors hacked his X account to promote a scam token named LAW. However, the top lawyer contacted other XRP proponents, who debunked the post. Given that Deatonâs X account had been compromised before and his recent endorsement of Arch Public, many, like Schwartz, suspected it might have been hacked again. #Crypto
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The #ZK token has crashed 17% within a short timeframe amid a hack event that saw the exploiter gain control of millions in unclaimed ZKSync airdrop tokens. The ZKSync ecosystem has again found itself in the midst of controversy, this time following a serious security breach that led to a sharp plunge in the price of its native token, ZK. ZKSync Suffers Exploit On-chain activity on April 15 confirmed that an entity successfully minted 110 million ZK tokens earlier today. Of this staggering amount, the individual has already sold 66 million tokens, triggering massive volatility and panic across crypto exchanges. Notably, the ZKSync security team quickly released a statement on X regarding the development. They acknowledged that an admin account suffered a compromise, granting the attacker access to nearly $5 million worth of unclaimed tokens from the projectâs airdrop allocation. The team emphasized that the exploit only impacted the airdrop contract and did not affect the broader ZKSync protocol, the ZK token smart contract, or user wallets. According to them, security teams have already initiated emergency protocols, and a thorough investigation is underway to determine the full scope of the breach. While the core infrastructure remains intact, the market reaction was immediate. Within a mere 30-minute window, ZK tokenâs price plummeted from $0.0478 to $0.0396 â a brutal 17% drop that rattled holders and traders alike. Although the asset made a partial recovery, rebounding to $0.0441, the market sentiment remains overwhelmingly bearish. In addition, the Relative Volatility Index (RVI), a metric for tracking price turbulence, surged from a low 18.68 to a hyperactive 72.81 within just an hour. #CryptoNewss
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