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🔍 Major Bitcoin ATM Scams: Losses Exceed $110 Million This Year Bitcoin ATM scams have become a serious issue, with losses surpassing $110 million. Scammers frequently target elderly people, using various tactics to deceive and steal funds, leading to nearly a tenfold increase in cases since 2020.
🇳🇬 Nigerian SEC Approves Two Crypto Exchanges The Nigerian Securities and Exchange Commission (SEC) has approved the operations of crypto exchanges Busha Digital and Quidax for the first time. This move is seen as a significant step in regulating the country’s crypto industry and includes the establishment of an incubation program for new market participants.
💸 Warren Buffett’s Berkshire Hathaway Sells $6.2 Billion in Bank of America Stock Berkshire Hathaway, led by Warren Buffett, unexpectedly sold $6.2 billion worth of Bank of America stock. This move caused a stir in the market as many expected the company to hold onto these assets.
🚀 Ethereum Faces Supply Crisis: Is a New Rally on the Horizon? Ethereum is facing a supply shortage, which could potentially trigger a new price surge in the cryptocurrency. Experts are debating whether this will lead to a new market rally and strengthen Ethereum's position among other cryptocurrencies.
📊 Solana vs. Cardano: Which Blockchain Network Will Dominate in 2024? Solana and Cardano are vying for dominance in the blockchain technology world, offering unique solutions for scalability and decentralization. Comparing the two networks highlights their strengths and weaknesses, making investor choices more challenging.
Who are you for? Solana - 🔥 Cardano - 🏆$BTC $ADA $SOL
The price of Dogecoin (DOGE) has started to show signs of life. The prospect of recovery makes the memcoin an attractive asset to buy
The price of Dogecoin (DOGE) fell along with the entire crypto market, wiping out the gains of the last 20 days. However, the popular memcoin is now starting to gradually recover, making it an attractive asset to buy.
Is it time to buy Dogecoin
The recent drop in Dogecoin's price has turned out to be a hidden blessing for DOGE investors. The market to realized value ratio (MVRV) shows that this decline has moved the memcoin into the accumulation zone.
The MVRV ratio shows investors' gains and losses. Right now, the 7-day MVRV for Dogecoin is -4.9%, indicating losses and fading selling pressure. When DOGE's MVRV is between -4.9% and -14.9%, it traditionally signals the start of a recovery rally. Such a moment represents a favorable buying opportunity.
However, the question arises whether adding DOGE to the portfolio at the current price will be profitable. This is answered by the Sharpe ratio, which measures the risk-adjusted return on an investment given volatility. A high Sharpe ratio indicates an attractive risk-to-reward ratio. Right now, the Sharpe ratio on the weekly chart is 9.55%. This is the first positive value of the indicator since the beginning of the month.
DOGE Forecast: coming out of consolidation
Dogecoin's price has held below resistance at $0.108 for most of the month, lost in the process of falling 12%. If accumulation begins, the coin will have a chance to rise above $0.109. If this barrier is taken, DOGE could start rising towards the next resistance level at $0.118. This will help the asset to get out of consolidation.
On the other hand, if the breakout fails or the market goes into a bearish trend, the price risks falling below $0.108. This would bring DOGE back into consolidation and cancel the bullish outlook.$DOGE
Brave Software will lay off 14% of its employees, marking the second round of cuts in the last 10 months. The reasons for the layoffs are not disclosed, although the company continues to increase the number of users of its browser.
Now the browser will not only be faster, but also 14% "lighter." 😅
Bitcoin miner IREN reported a record annual revenue of $184.1 million. The company is successfully increasing its cryptocurrency mining volumes despite challenges in the industry.
Bitfinex: Interest in risky assets has returned to traders
Bitfinex: Interest in risky assets has returned to traders A study conducted by the cryptocurrency exchange Bitfinex showed that after the recent decline in the crypto market, traders have regained interest in risky assets.
In their report, analysts note that now the dynamics of the bitcoin price is clearly correlated with the performance of shares of U.S. companies, which means that the cryptocurrency market has returned to the mood for trading risky assets. Also, the market decline led to a s
US-based cryptocurrency mining firm Rhodium has filed for bankruptcy in a court in the Southern District of Texas. According to documents, the company has debts ranging from $50 million to $100 million.
Previously, the mining firm has repeatedly had financial difficulties - back in 2023, Riot Platforms filed a lawsuit against Rhodium for $26 million, and in July of this year the company failed to pay $54 million in loans. Before filing for bankruptcy, Rhodium was working on two debt restructuring proposals, but was unable to find support from all parties involved.
Rhodium's 6 subsidiaries - Rhodium Encore, Jordan HPC, Rhodium JV, Rhodium 2.0, Rhodium 10MW and Rhodium 30MW - are also named in the bankruptcy filing. Rhodium has selected law firm Quinn Emanuel Urquhart & Sullivan as general counsel for the bankruptcy, while Province will act as restructuring advisors.
Note that under Chapter 11 of the U.S. Bankruptcy Act (Voluntary Bankruptcy), the company will be able to restructure its debts and continue operations. In 2022, the mining firm Core Scientific did the same thing, using a bankruptcy filing to protect itself from creditors.
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