The latest survey of Mt Gox creditors shows that a significant majority plan to hold onto their Bitcoin once they receive their repayments. This news comes amidst growing anticipation within the cryptocurrency market.

Analysts are closely watching for potential market effects as these creditors await their long-awaited reimbursements. Interestingly, current market sentiment suggests that institutional engagement is having little impact on individual selling behaviors.

Mt Gox Creditors Lean Towards Holding Bitcoin Post-Repayment
A recent Reddit poll reveals that a significant 55% of Mt Gox creditors plan to hold onto their Bitcoin once they receive repayments. The survey, which included 467 participants, indicated that 260 creditors intend to retain all their received assets. In contrast, 18% (88 participants) plan to sell their entire holdings, with others opting for partial sales.

The inclination to hold Bitcoin stems from its widespread adoption and significant value appreciation over the past decade. From its lows, Bitcoin surged to peaks exceeding $73,000, fueled in part by regulatory approvals like the SEC’s nod to spot Bitcoin ETFs. This growth has encouraged creditors to anticipate potential further gains.
However, there’s apprehension in the crypto community about the impact of a large-scale sell-off of approximately 140,000 Bitcoin—estimated at $9 billion—distributed among creditors. Concerns mirror historical instances, such as a Bitcoin sale by the German government that briefly dropped prices to $55,000, underscoring potential volatility ahead.
Mt Gox Creditors and the Future of Bitcoin Market Dynamics
Despite concerns over potential market volatility, several market experts argue that the presence of institutional investors in the Bitcoin market will likely dampen any abrupt reactions. These institutional players, entering the Bitcoin market in recent years, have contributed to stability, potentially mitigating the volatility typically associated with large-scale individual sales.

As Mt Gox finally initiates settlement processes after a prolonged delay spanning a decade, more than half of the creditors express a strong intention to hold onto their Bitcoin. While market impacts remain a source of worry, the evolving landscape shaped by institutional investment could help absorb some of these effects.
As the cryptocurrency market matures, the decisions made by Mt Gox creditors regarding their Bitcoin holdings are anticipated to offer valuable insights into future dynamics of the Bitcoin market.

Important: Please note that this article is only meant to provide information and should not be taken as legal, tax, investment, financial, or any other type of advice.

#MtGox #WarzirX #BlockFi #EthereumETFApprovalExpectations #Grayscale $BTC $ETH $USDC

A U.S. judge has approved a settlement of about $9 million in a lawsuit against Robinhood alleging that the firm’s referral program enabled users to send unsolicited advertising messages to their contacts. Robinhood Financial LLC denied the allegations.

A U.S. judge, Barbara Rothstein, has ordered Robinhood, a website for trading stocks and cryptocurrencies, to pay a $9 million settlement. The company faced a lawsuit over its referral program, which encouraged users to invite friends to join the platform. The judge ruled that Robinhood’s program violated the Consumer Protection Act
Robinhood Ordered to Pay $9 Million Settlement Over Referral Program
A federal judge in the U.S. Western District Court of Washington has ruled that Robinhood Financial LLC, a firm specializing in crypto and stock trading, must pay a $9 million settlement. This decision stems from a lawsuit filed by plaintiffs Andrew Gillette and Cooper Moore, who alleged that Robinhood’s referral program violated the law.

Source: X

The lawsuit, settled as a class-action, required Robinhood to compensate affected parties. Andrew Gillette and Cooper Moore’s legal team received $2.2 million in attorney fees and approximately $142.4k in litigation costs from the settlement fund. Each plaintiff was also granted $10,000 for legal services from the settlement.
Judge Barbara Rothstein clarified that the lawsuit centered on Robinhood’s “refer-a-friend” program, which allowed unsolicited messages to be sent to individuals in Washington State. This violated consumer protection laws, prompting the legal action.
Senior Judge Rothstein deemed the $9 million settlement fair, emphasizing its reasonableness and adequacy given the complexity and costs of litigation. She affirmed that all parties involved had effectively represented the interests of the settlement class throughout the legal process.

Robinhood Referral Program Lawsuit Details
The lawsuit against Robinhood Financial LLC centered on its “refer-a-friend” program, which allegedly violated consumer protection laws. Plaintiffs Cooper Moore and Andrew Gillette filed the lawsuit on behalf of individuals who received unsolicited text messages from Robinhood’s program. These messages were sent between August 2017 and February 2024 to residents of Washington State.
The lawsuit specifically targeted individuals who did not consent to receive these referral messages. However, Robinhood disputed these claims.
Robinhood’s referral program allowed users to send text messages to their contacts through the trading app, inviting them to join the platform. The lawsuit, filed in 2021, argued that these unsolicited messages violated Washington State’s Consumer Protection Act and the Commercial Electronic Mail Act.

Following the approval of the $9 million settlement on July 18, 2024, Robinhood’s stock (HOOD) experienced a decline of 1.8%.

Important: Please note that this article is only meant to provide information and should not be taken as legal, tax, investment, financial, or any other type of advice.

#RobinHood #WarzirX #BlockFi #EthereumETF #Grayscale $BTC $ETH $SOL

Dogecoin (DOGE), a prominent meme-inspired cryptocurrency, recently achieved a significant milestone by surpassing 90 million wallet addresses. This milestone comes during a period of crypto market recovery, where Dogecoin saw a 15% surge in just one week.

According to data from IntoTheBlock, as reported by Bitcoinist, there are now 90 million wallet addresses holding Dogecoin (DOGE). However, it’s important to note that one wallet doesn’t always represent one user. Individuals can create multiple DOGE wallets, and wallets held by exchanges may contain DOGE from numerous users.

DOGE Milestone and Price Speculation
The achievement of reaching 90 million wallet addresses comes as Dogecoin (DOGE) experiences renewed interest within the broader crypto market. Analysts speculate that this increase in addresses could potentially drive DOGE’s price towards the coveted $1 mark by the end of the year.

Crypto analyst Kaleo recently examined Dogecoin’s future prospects. His analysis looked into DOGE’s past performance, recent trends, and possible future movements.
Analyst Predictions for Dogecoin’s Future Price
Long-Term Outlook: Kaleo maintains an optimistic long-term view, describing the current period as a “meme coin supercycle.” He anticipates that Dogecoin (DOGE) could eventually reach between $1 to $2. However, he cautions that based on historical trends, this milestone may take some time to achieve, providing investors with a preparation window.

Short-Term Price Prediction: Meanwhile, cryptocurrency analyst Javon Marks predicts a potential breakout for DOGE, suggesting a target price of $0.653. This forecast represents a significant increase of over 400% from DOGE’s current trading level of $0.118. Marks shared this prediction on the microblogging platform X (formerly Twitter), indicating that it may only be a matter of time before DOGE reaches this price target.

Important: Please note that this article is only meant to provide information and should not be taken as legal, tax, investment, financial, or any other type of advice.

#Dogecoin #Doge #WarzirX #BlockFi #EthereumETF $DOGE $BTC $ETH

WazirX’s recent hack saw over $230 million worth of crypto stolen, including a staggering 5.4 trillion SHIB tokens. The hacker began selling off SHIB, triggering a more than 10% drop in its price as investors worried about additional selling pressure.

Despite efforts to burn tokens, the SHIB community remains anxious about further selling and its potential impact on prices.

Shiba Inu (SHIB) Plunges Amidst WazirX Hack Fallout
Shiba Inu (SHIB) has experienced a sharp decline, dropping by over 10.6% in recent hours to reach approximately $0.00001737. This sudden downturn has set off alarm bells among investors, indicating that the hacker responsible for the recent breach at WazirX has begun to sell off their stolen SHIB holdings.
According to blockchain data, the hacker still holds a massive 5.4 trillion SHIB tokens. This substantial amount raises concerns about potential further disruptions in the market. Investors are wary of the ongoing impact of these sales on SHIB’s price stability and overall market sentiment.

WazirX Hack: Massive SHIB Holdings Cause Market Turmoil
Recently, WazirX, India’s largest digital asset exchange, fell victim to a significant security breach. Exploiting vulnerabilities in the platform’s multisig wallets, hackers managed to steal over $230 million worth of various cryptocurrencies, including SHIB, PEPE, Ethereum, and Fantom.
According to blockchain data, the attacker responsible for the breach holds an immense 5.435 trillion SHIB tokens, valued at approximately $102 million. This substantial holding underscores the impact of the ongoing sell-off by the attacker on SHIB’s market price. Investors and the SHIB community are closely monitoring developments amid concerns about further market instability caused by continued selling.

Whale Alert – Source: X
Hacker Sells 35 Billion SHIB Tokens Despite Increased Burn Rate
Reports from Lookonchain reveal that the hacker responsible for the WazirX security breach has sold 35 billion SHIB tokens, amounting to about $618,000. Despite these sales, the attacker still holds a massive 5.4 trillion SHIB tokens, valued at approximately $95.45 million.

Lookonchain update – Source: X
The ongoing selling activity by the hacker underscores the challenges faced by WazirX and raises concerns within the crypto community about platform security and investor protection.

In response to the exploit, SHIB’s price has plummeted by over 10.6%, currently trading around $0.00001737. Despite a substantial 874% increase in SHIB token burn rate today, market sentiment remains predominantly bearish.
SHIB Community Braces for Price Declines
Many members of the Shiba Inu community are apprehensive about potential further declines in SHIB’s price as the hacker behind the WazirX breach continues to sell small amounts of their SHIB tokens. With a substantial 5.4 trillion tokens still under the hacker’s control, there are growing concerns that continued selling could exert additional downward pressure on SHIB’s market value.
Meanwhile, the Relative Strength Index (RSI) for SHIB currently stands at 53, indicating a neutral stance but reflecting cautious sentiment among investors

Important: Please note that this article is only meant to provide information and should not be taken as legal, tax, investment, financial, or any other type of advice.

#WRX #WazirX #WarzirX #BlockFi #BlockFi $WRX $BTC $SOL

The native token of the XRP Ledger, XRP, has seen a surge in bullish sentiments as its price climbed over 38% in just one week to surpass $0.6. This rally has elevated XRP to become the seventh-largest cryptocurrency by market capitalization.

XRP’s recent performance has outpaced that of Bitcoin, Ethereum, and other major cryptocurrencies, attributed by analysts to increased trading activity and other favorable market conditions.
Analyst Predicts Start of XRP Price Rally
Popular cryptocurrency analyst Milkybull Crypto, with over 70,000 followers on the microblogging platform X (formerly Twitter), recently suggested that the XRP price rally is just beginning. He likened this rally to the monumental surge seen in 2017.

Source: X

During that time, the price of XRP, the native token of the XRP Ledger, skyrocketed by over 66,000%, climbing from approximately $0.005 to over $3.3 before experiencing a subsequent decline.
Analysts’ Bullish Predictions for XRP
Crypto analyst MichaelXBT highlighted on the microblogging platform X the formation of a rare seven-year bullish pennant pattern for XRP. This prolonged consolidation phase suggests to him the potential for a substantial price increase.
Meanwhile, analyst The Great Matsby made an even more optimistic forecast based on the Bollinger Band squeeze technical pattern. Noting that XRP is currently experiencing one of its tightest monthly Bollinger Band squeezes in history, he pointed out that such conditions have historically preceded significant price movements.

The Greatatsby’s analysis suggests that if this pattern plays out, XRP could potentially surge to $250, resulting in a market capitalization of $14 trillion.

Important: Please note that this article is only meant to provide information and should not be taken as legal, tax, investment, financial, or any other type of advice.

#XRP #Ripple #SEC #CME #WarzirX $XRP $WRX $BTC

After a period of bullish sentiment, the cryptocurrency market has seen a slight correction of more than 1% in the last 24 hours, signaling a cooling off in price movements. Bitcoin (BTC) remains steady around the $65,000 mark.

Meanwhile, the Artificial Intelligence (AI) category has experienced notable corrections, with top tokens each losing over 5% in the same period. Despite this increased volatility, there is growing optimism for a bullish turnaround in the RNDR price.

Render (RNDR) Price Analysis and Market Trends
The price of Render coin has struggled to break through its resistance trendline within a triangle pattern, signaling strong bearish sentiment in the cryptocurrency market. Over the past day, the AI token has experienced a 6.17% decline, with a trading volume reaching $179.406 million.

Currently trading at $6.388, Render crypto has shown a Year-to-Date (YTD) return of +36.44%, securing the 37th position in the global crypto rankings with a market capitalization of $2.515 billion.

RNDR/USDT – Source: TradingView
Technical Indicators
The Relative Strength Index (RSI) has failed to surpass its midpoint, indicating a downtrend and suggesting a potential bearish convergence with its average trendline, reflecting growing bearish sentiment.
On the other hand, the Moving Average Convergence Divergence (MACD) indicator shows a decline in the green histogram, signifying increased selling pressure. However, the MACD averages indicate a neutral trend, indicating uncertainty regarding future price movements.

Render (RNDR) Price Forecast
If bulls manage to break out above the resistance trendline, Render’s price is expected to test the upper level of $7.325 within this week. Further bullish momentum could potentially drive the price towards testing its high of $9.450 in the coming weeks.
Conversely, if bears regain control over the market, RNDR coin price may revisit its crucial support level around $5.30 by the end of this month.

Important: Please note that this article is only meant to provide information and should not be taken as legal, tax, investment, financial, or any other type of advice.

#RNDR #Render #WarzirX #BlockFi #EthereumETF $RNDR $BTC $WRX