AVAX price is gaining pace above the $28.65 resistance. Avalanche could rise further if there is a clear move above the $30.00 resistance zone.

AVAX price is moving higher from the $27.40 support zone against the US dollar.

The price is trading above $28.65 and the 100-hourly simple moving average.

There was a break above a key declining channel with resistance at $28.40 on the hourly chart of the AVAX/USD pair (data source from Kraken).

The pair could continue to rise if it stays above the $28.65 and $28.50 support levels.

AVAX Price Aims Higher

After a steady decline, Avalanche’s AVAX found support near the $25.00 zone. A support base was formed above $25.00, and the price started a fresh increase, like Bitcoin and Ethereum.

The price gained over 8% and broke many hurdles near $28.50. There was a break above a key declining channel with resistance at $28.40 on the hourly chart of the AVAX/USD pair. The pair even cleared the $29.40 resistance to move into a positive zone.

AVAX price is now trading above $28.50 and the 100-hourly simple moving average. It is showing positive signs above the 23.6% Fib retracement level of the upward move from the $27.37 swing low to the $29.95 high.

On the upside, an immediate resistance is near the $30.00. The next major resistance is forming near the $30.50 zone. If there is an upside break above the $30.50 level, the price could accelerate higher. In the stated case, the price could rise steadily toward the $32.50 level or even $34.00.

Dips Supported in Avalanche?

If AVAX price fails to continue higher above the $30.00 or $30.50 levels, it could start a downside correction. Immediate support on the downside is near the $29.35 level.

The main support is near the $28.65 zone and the 50% Fib retracement level of the upward move from the $27.37 swing low to the $29.95 high. A downside break below the $28.65 level could open the doors for a drop toward $28.00 and the 100 simple moving average (4 hours). The next major support is near the $27.40 level.

Technical Indicators

Hourly MACD – The MACD for AVAX/USD is gaining momentum in the bullish zone.

Hourly RSI (Relative Strength Index) – The RSI for AVAX/USD is now above the 50 level.

Major Support Levels – $29.35 and $28.65.

Major Resistance Levels – $30.00 and $30.50.

Source: NewsBTC.com

The post Avalanche (AVAX) Price Rallies: Can It Break Through the $30 Barrier? appeared first on Crypto Breaking News.

XRP price is attempting to recover above the $0.4750 resistance zone. The price could gain bullish momentum if it settles above the $0.480 resistance zone.

XRP price is still struggling to gain pace for a move above the $0.4800 resistance zone.

The price is now trading above $0.4750 and the 100-hourly Simple Moving Average.

There was a break above a key contracting triangle with resistance at $0.4735 on the hourly chart of the XRP/USD pair (data source from Kraken).

The pair might gain bullish momentum if there is a close above the $0.480 resistance.

XRP Price Recovers Again

XRP price remained stable above the $0.4620 support and recently started a decent upward move like Bitcoin and Ethereum. The bulls were able to push the price above $0.470 to push the price in a short-term bullish zone.

There was a break above a key contracting triangle with resistance at $0.4735 on the hourly chart of the XRP/USD pair. The pair even cleared the $0.4750 resistance zone and the 100-hourly Simple Moving Average. A high was formed at $0.4796 and the price is now consolidating losses.

The price is testing the 23.6% Fib retracement level of the upward move from the $0.4694 swing low to the $0.4796 high. It is now trading above $0.4750 and the 100-hourly Simple Moving Average.

On the upside, the price is facing resistance near the $0.4790 level. The first major resistance is near the $0.4800 level. The main hurdle is now near $0.4825. A clear move above the $0.4825 resistance might send the price toward the $0.4880 resistance.

The next major resistance is near the $0.5050 level. A close above the $0.5050 resistance zone could send the price higher toward $0.5250. Any more gains might send the price toward the $0.5320 resistance.

Another Drop?

If XRP fails to clear the $0.480 resistance zone, it could start another decline. Initial support on the downside is near the $0.4745 level and the 50% Fib retracement level of the upward move from the $0.4694 swing low to the $0.4796 high.

The next major support is at $0.4730 and the 100-hourly Simple Moving Average. If there is a downside break and a close below the $0.4730 level, the price might continue to decline. In the stated case, the price could even trade below the $0.4640 support in the near term.

Technical Indicators

Hourly MACD – The MACD for XRP/USD is now gaining pace in the bullish zone.

Hourly RSI (Relative Strength Index) – The RSI for XRP/USD is now above the 50 level.

Major Support Levels – $0.4745 and $0.4640.

Major Resistance Levels – $0.4800 and $0.4825.

Source: NewsBTC.com

The post XRP Price Set To Surge: Breaking This Resistance Could Trigger a Rally appeared first on Crypto Breaking News.

Ethereum price is attempting a fresh increase above the $3,450 resistance zone. ETH must settle above $3,550 to continue higher in the near term.

Ethereum slowly moved higher above the $3,450 zone.

The price is trading above $3,450 and the 100-hourly Simple Moving Average.

There was a break above a key bearish trend line with resistance near $3,415 on the hourly chart of ETH/USD (data feed via Kraken).

The pair must clear the $3,520 and $3,550 resistance levels to continue higher.

Ethereum Price Faces Resistance

Ethereum price started a decent recovery wave above the $3,400 level. ETH even cleared the $3,420 level to move into a short-term positive zone like Bitcoin.

There was a break above a key bearish trend line with resistance near $3,415 on the hourly chart of ETH/USD. The pair even cleared the $3,500 resistance zone. A high was formed at $3,516 and the price is now consolidating gains.

There was a move below the $3,500 level, but the price remained above the 23.6% Fib retracement level of the upward move from the $3,350 swing low to the $3,516 high.

Ethereum is trading above $3,450 and the 100-hourly Simple Moving Average. The current price action is positive and calling for more upsides. On the upside, the price is facing resistance near the $3,500 level. The first major resistance is near the $3,520 level.

The next major hurdle is near the $3,550 level. A close above the $3,550 level might send Ether toward the $3,650 resistance. The next key resistance is near $3,720. An upside break above the $3,720 resistance might send the price higher. Any more gains could send Ether toward the $3,880 resistance zone.

Are Dips Limited In ETH?

If Ethereum fails to clear the $3,550 resistance, it could start a downside correction. Initial support on the downside is near $3,480. The first major support sits near the $3,440 zone and the 50% Fib retracement level of the upward move from the $3,350 swing low to the $3,516 high.

A clear move below the $3,420 support might push the price toward $3,350. Any more losses might send the price toward the $3,320 level in the near term.

Technical Indicators

Hourly MACD – The MACD for ETH/USD is gaining momentum in the bullish zone.

Hourly RSI – The RSI for ETH/USD is now above the 50 zone.

Major Support Level – $3,420

Major Resistance Level – $3,550

Source: NewsBTC.com

The post Ethereum Price Bounces Back Yet Lacks Strong Bullish Drive appeared first on Crypto Breaking News.

Bitcoin price is up nearly 5% and there was a move above $62,500. BTC is now testing the $63,500 resistance zone with a positive angle.

Bitcoin started a decent increase above the $62,200 and $62,400 levels.

The price is trading above $62,500 and the 100 hourly Simple moving average.

There was a break above a major bearish trend line with resistance at $61,000 on the hourly chart of the BTC/USD pair (data feed from Kraken).

The pair might struggle to continue higher above the $63,650 resistance zone.

Bitcoin Price Starts Recovery

Bitcoin price formed a base above the $60,000 zone. BTC remained stable and was able to start a decent increase above the $61,500 resistance zone.

There was a break above a major bearish trend line with resistance at $61,000 on the hourly chart of the BTC/USD pair. The bulls were able to pump the price above the $62,500 resistance. It is up nearly 5% and trading near the $63,650 resistance zone.

Bitcoin price is trading above $62,500 and the 100 hourly Simple moving average. It is stable and well above the 23.6% Fib retracement level of the upward move from the $59,949 swing low to the $63,675 high.

If there is another increase, the price could face resistance near the $63,650 level. The first key resistance is near the $64,000 level. The next key resistance could be $64,400. A clear move above the $64,400 resistance might start a steady increase and send the price higher.

In the stated case, the price could rise and test the $65,500 resistance. Any more gains might send BTC toward the $66,000 resistance in the near term.

Are Dips Limited In BTC?

If Bitcoin fails to climb above the $63,650 resistance zone, it could start a downside correction. Immediate support on the downside is near the $62,800 level.

The first major support is $61,800 and the 50% Fib retracement level of the upward move from the $59,949 swing low to the $63,675 high. The next support is now forming near $61,250 and the 100 hourly Simple moving average. Any more losses might send the price toward the $60,500 support zone in the near term.

Technical indicators:

Hourly MACD – The MACD is now gaining pace in the bullish zone.

Hourly RSI (Relative Strength Index) – The RSI for BTC/USD is now above the 50 level.

Major Support Levels – $62,800, followed by $61,800.

Major Resistance Levels – $63,650, and $64,400.

Source: NewsBTC.com

The post Bitcoin Price Spikes 5%, Can BTC Bulls Take Back Control? appeared first on Crypto Breaking News.

June was much rougher for Bitcoin than many expected at the beginning of the month. This is because the price of Bitcoin virtually declined throughout the month, leaving many investors, especially short-term holders, disappointed.

However, despite the price decline, on-chain data suggests that Bitcoin adoption is growing. New data shows the number of new Bitcoin addresses being created has surged to the highest level in two months. This growth suggests the long-term prospects for Bitcoin remain strong.

New BTC Addresses Surge To 2-Month High

Despite the price slump, the network is exhibiting a promising trend that signals future growth for the world’s largest cryptocurrency. According to Glassnode chart data initially shared on social media platform X by crypto analyst Ali Martinez, new BTC wallet addresses have risen steadily over the past week to reach 352,124, their highest level since April. 

Interestingly, the chart shows that the recent uptick in new addresses contrasts with a larger decrease in the creation of new addresses since November 2023. This new increase points to an influx of new users entering the crypto space. As more people adopt Bitcoin, demand will inevitably grow, which is a catalyst for price surges down the line.

Furthermore, Martinez suggested that the uptick in new addresses is from retail investors making a comeback. While institutional investors often drive major market moves, retail interest is crucial for Bitcoin’s mainstream adoption.

Retail #Bitcoin investors are making a comeback! The number of new $BTC addresses on the network surged to 352,124, marking the highest level since April. pic.twitter.com/GFOHnsokz0

— Ali (@ali_charts) June 29, 2024

A major part of the increase in new addresses can be attributed to recent adoption in the Brazilian market. Nubank, Brazil’s biggest neobank, recently announced plans to integrate Bitcoin’s lightning network into its services. As the largest fintech bank in Latin America, this integration could potentially expose a significant portion of its 100 million customers to the digital asset.

What’s Next For Bitcoin?

At the time of writing, Bitcoin was trading at $61,446. The leading digital asset has lost over 10% of its market cap in a 30-day time frame and the bulls are struggling to break above $61,000. This downtrend could be attributed to a selloff by miners and many long-term holders. Specifically, around 40,000 BTC were sold by long-term holders in June. 

Bear markets are temporary. Bull runs will return. It’s just a matter of when, not if. With the second half of the year now approaching, time can only tell how the price of Bitcoin unfolds. Of course, new wallet addresses don’t directly impact price, but they are a leading indicator of growing Bitcoin adoption.

This adoption and demand, coupled with a recent decrease in the number of new Bitcoins entering the market, points to an increase in the price of Bitcoin in July.

Featured image from CNBC, chart from TradingView

Source: NewsBTC.com

The post Bitcoin Remains Bullish As New BTC Addresses Surge To New 2-Month Highs appeared first on Crypto Breaking News.

Ethereum enthusiasts were cruising down the information superhighway towards a July 4th fireworks celebration of a different kind: the launch of the first spot Ethereum ETF.

But in a move that worried investors, the US Securities and Exchange Commission threw a big wrench into the works, unexpectedly returning applicants’ proposals and delaying the much-anticipated debut.

Missed Exit: Ethereum ETF July Launch Goes Up In Smoke

The news came as a shock to many, as market watchers and analysts alike had confidently predicted a July launch, with some even suggesting a celebratory trade on Independence Day.

Bloomberg ETF analysts Eric Balchunas and James Seyffart were among those waving the checkered flag a little too early. Their prediction of a July 2nd debut went up in smoke faster than a Roman candle after the SEC decided to put the brakes on the process.

Unfort think we gonna have to push back our over/under till after holiday. Sounds like SEC took extra time to get back to ppl this wk (altho again very light tweaks) and from what I hear next wk is dead bc holiday = July 8th the process resumes and soon after that they’ll launch… https://t.co/0ZQR7yiBLt

— Eric Balchunas (@EricBalchunas) June 28, 2024

Insiders claim that the SEC has delayed the anticipated debut date by requesting changes to the S-1 paperwork that issuers have submitted. This unexpected diversion raises serious concerns about the schedule as a whole. Although there are others who anticipate clearance by July 8th, the impending US holiday probably adds another level of difficulty.

Uncharted Territory: The SEC Takes The Wheel

The lack of a definitive timeline is a major source of frustration for investors and issuers alike. Unlike the previous 19b-4 forms, which mandated a specific SEC decision timeframe, the S-1 filing process gives the regulatory body the freedom to take its sweet time. This essentially hands the steering wheel over to the SEC, allowing them to request revisions and conduct a thorough review without the pressure of a ticking clock.

While SEC Chair Gary Gensler has previously hinted at approvals “sometime this summer,” his comments haven’t offered much solace to the jittery market. The recent snafu with the S-1 forms indicates that even a summer launch might be overly optimistic. This lack of clarity is a major hurdle for issuers and creates uncertainty for investors who are eager to jump on board the Ethereum ETF bandwagon.

The Road Ahead

Even if Ethereum ETFs do eventually reach the finish line, experts predict they might not attract the same level of investment as their Bitcoin counterparts. The perceived lower volatility of Bitcoin, coupled with the already established Bitcoin ETF landscape, might make them a more attractive option for some investors.

The SEC’s recent actions have thrown the timeline into disarray, leaving investors and issuers in a state of limbo. While approval might still happen “sometime this summer,” the lack of clarity and the potential for lower inflows compared to Bitcoin ETFs paint a picture of a bumpy ride ahead for these highly anticipated investment vehicles.

Featured image from Pexels, chart from TradingView

Source: NewsBTC.com

The post Ethereum ETF Dream On Hold: SEC Thumbs Down Applications (Again) appeared first on Crypto Breaking News.

Recent on-chain data shows that substantial amounts of Bitcoin have made their way to centralized exchanges in the last few days. How could this impact the Bitcoin price?

Bitcoin Price To Face Further Selling Pressure?

In a new post on the X platform, prominent crypto analyst Ali Martinez revealed that Bitcoin investors have been transferring their assets to centralized exchanges in recent days. The relevant indicator here is CryptoQuant’s Exchange Reserve metric, which tracks the total amount of a particular cryptocurrency held on all exchanges.

It is worth noting that the value of this metric rises when investors are making more deposits than withdrawals of a cryptocurrency (Bitcoin, in this scenario) into centralized exchanges. Meanwhile, when the metric’s value falls, it means that holders are transferring their assets out of the trading platforms.

According to CryotoQuant data, more than 14,000 BTC (valued at approximately $851.2 million) have been sent to crypto exchanges in the last four days. As shown in the chart below, the exchange reserve metric is at its highest level in nearly a month.

Typically, an increase in the exchange reserve indicates high selling pressure, as investors often use centralized exchanges to sell assets. Consequently, the movement of huge amounts to trading platforms could exacerbate the downward pressure on the Bitcoin price.

Furthermore, the exodus of significant amounts to centralized exchanges could trigger price volatility for the premier cryptocurrency. This would imply an increased likelihood of big price movements in the future. 

However, there has not been any impact on the Bitcoin price in the past day. As of this writing, the price of the premier cryptocurrency stands at around $60,700, reflecting a bare 0.3% increase in the last 24 hours. 

Price Rebound Imminent For BTC: Santiment

Fortunately, it is not all gloom for the Bitcoin price at the moment. Prominent on-chain analytics platform Santiment has offered a positive outlook for the price of the market leader.

According to the blockchain firm, Bitcoin’s recovery following dips in the past two weeks has been short-lived. Santiment believes that a price rebound is imminent for the premier cryptocurrency.

The rationale behind this analysis is based on two factors; the recent negative sentiment from the crowd and the low relative strength index (RSI). Santiment said in its post:

But note the continued negative sentiment pouring in from the crowd, indicating their patience is wearing thin. This, along with a low RSI of just 36, are strong indications a bounce is close.

Source: NewsBTC.com

The post 14,000 BTC Transferred To Exchanges In Four Days – Worrying Trend For Bitcoin Price? appeared first on Crypto Breaking News.

According to data from CoinMarketCap, the price of Bitcoin declined by 5.25% in the past week falling below the $60,000 mark. This price dip adds to the string of negative performances in the last month during which BTC has lost 9.88% of its value. 

However, Bitcoin has recently seen an increase in buying interest despite its recent price dips and popular notions that the maiden cryptocurrency is bound to remain in a consolidation state for now. Prominent crypto analyst Ali Martinez has now stated another development that characterizes the resilient interest in Bitcoin amidst its current overall bearish trend.

Retail BTC Investors Return In Numbers: Incoming Price Rally?

In an X post on Saturday, Martinez reported that the number of new Bitcoin (BTC) addresses reached 352,124 on Friday. This figure marks the highest level since April and breaks a downtrend that has persisted since November 2023.

Based on this data, the crypto analyst announced a resurgence in the number of retail Bitcoin investors indicating renewed interest from key players in the market. For context, retail investors refer to individual investors who trade assets for their personal accounts. They typically trade in smaller quantities than organizations but are quite important for market stability and liquidity.

Retail #Bitcoin investors are making a comeback! The number of new $BTC addresses on the network surged to 352,124, marking the highest level since April. pic.twitter.com/GFOHnsokz0

— Ali (@ali_charts) June 29, 2024

 

Generally, a rise in retail investors represents an increase in the token’s demand due to an influx of new participants to the market which can subsequently translate into a rise in market price. Furthermore, this surge in new addresses can be interpreted as a positive signal stating that individuals have disposable income and are willing to invest in speculative assets like Bitcoin. 

Finally, retail investors can also serve as a barometer for market sentiment with their increased activity indicating a broader bullish sentiment on Bitcoin’s future in the market.  Interestingly, Bitcoin’s price already saw a slight increase of 0.92% on Saturday, briefly surpassing the $61,000 mark. However, it is still too early to determine if this price bounce could trigger a market rebound for the most valuable cryptocurrency.

Bitcoin Price Overview

At the time of writing, Bitcoin is trading at $60,884, as it continues to move within the $60,100 to $63,200 range. The token’s daily trading volume has decreased by 49.16% and is now valued at $12.7 billion.

If Bitcoin bulls can generate sufficient buying pressure to break out of this sideways movement, the asset could potentially return to $67,000. Conversely, if the coin experiences a price breakdown, it could fall as low as $40,000.

Source: NewsBTC.com

The post Bitcoin Records Surge In Retail Investors – Is A Price Rebound On? appeared first on Crypto Breaking News.

Avalanche (AVAX) has recently shown a strong correctional upswing, sparking renewed interest among investors and traders. This upward momentum comes after a rejection at $23.49 and indicates a potential challenge to the $30.34 resistance level. 

As AVAX approaches this critical threshold, market participants are closely watching to see if the cryptocurrency can maintain its bullish trajectory and break through the resistance. The $30.34 level is now a focal point, determining whether Avalanche can sustain its rally and continue to climb higher.

This article focuses on the use of technical indicators to examine AVAX’s current price movement to predict potential Scenarios if the price reaches the $30.34 resistance level. 

Analyzing Avalanche’s Current Upswing

Currently, on the 4-hour chart, the price of AVAX is actively trading above the 100-day Simple Moving Average (SMA). Although the price tends to be moving in a consolidating manner, there are possibilities that it could extend its upswing.

Also, while the signal line of the 1-day Relative Strength Index (RSI) signals that the price of Avalanche may go bearish, this is just a short-term movement, which at some point, the price may begin to rise again.

Meanwhile, on the 1-day chart, despite still trading below the 100-day SMA, Avalanche is actively bullish as it is attempting a correctional upward movement toward the $30.34 resistance level with consistent momentum.

The formation of the 1-day RSI indicator also confirms this current price bullishness as the signal line of the indicator seems to have moved out of the oversold zone towards the 50% level. Thus, it can be considered that AVAX’s price may undergo a brief pullback before challenging the $30.34 resistance level

Breaking Through Or Facing Rejection At $30.34?

Exploring the possible outcomes of Avalanche, it was discovered that if AVAX’s price reaches the $30.34 resistance level and breaks above, it may continue to rise higher to test the $36.15 resistance level and potentially move on to challenge other higher levels if it breaches this $36.15 level.

However, if the crypto asset faces rejection at the $30.34 resistance, it will begin to decline toward the $23.49 support level. If this level is breached, it may continue to decline to test the $18.81 support level and may move on to test other lower levels following a break below the $18.81 level.

AVAX’s price was trading at around $28.23 and was up by 1.01% with a market capitalization of over $11 billion and a trading volume of over $336 million as of the time of writing. There has been a 24-hour increase of 1.01% in AVAX’s market capitalization and a 3.07% decrease in its trading volume.

Source: NewsBTC.com

The post Avalanche Gains Momentum As AVAX Sets Sights On $30.34 Resistance appeared first on Crypto Breaking News.

A crypto pundit has declared that missing out on XRP, the native token of the XRP Ledger (XRPL) could potentially become the biggest mistake an individual can make. The analyst has expressed bullish sentiment on its dominance and future outlook following its possible integration into financial banking systems. 

Here’s Why Investors Should Not Miss Out On XRP 

In a June 27 X (formerly Twitter) post, crypto analyst and avid XRP supporter, King Karan boldly demonstrated his confidence in the crypto’s long-term price prospects. According to Karan, missing out on XRP’s integration into the financial banking system could become one of the most profound mistakes for investors.

The analyst has implied that its complete integration into the financial banking system could lead to substantial gains, potentially pushing the cryptocurrency’s price to new all-time highs. He has expressed complete confidence in XRP’s bullish prospects, asserting he would be satisfied with his investment timeline whether a price surge occurs tomorrow or in the next two years. 

Karan’s bullish sentiment for XRP likely stems from Ripple’s plans to expand its digital asset operations to various trillion-dollar markets and the altcoin’s goal to replace the SWIFT network, a vast messaging network used by global banks and financial institutions. This potential integration could significantly expose XRP to new markets, fueling widespread adoption and potentially triggering a price surge for the cryptocurrency. 

Earlier this year, reports disclosed a major achievement for the Ripple ecosystem, underscoring the potential for the coin to become adopted for international payments. Additionally, Ripple’s Chief Legal Officer (CLO), Stuart Alderoty also predicted last year that XRP could once again be utilized for cross-border payments in the United States (US). 

Kang’s deep-rooted belief in the digital asset’s eventual success in the market is heavily dependent on the cryptocurrency becoming adopted by financial institutions. Currently, XRP provides a more affordable and incredibly fast cross-border payment method than leading cryptocurrencies like Bitcoin. With XRP, cross-border transactions are completed in just three to five seconds, making it one of the fastest methods for international money transfers. 

Kang has further disclosed that he will continue being bullish on XRP. He revealed his investments in a diverse array of altcoins, emphasizing his strategy of diversification to secure profits despite XRP’s current underperformance. 

Other Key Developments That Could Prove Bullish For XRP 

Beyond its adoption prospects within the financial banking sector, the conclusion of Ripple’s legal battle with the United States Securities and Exchange Commission (SEC) and the potential launch of an XRP ETF could trigger a significant bullish rally for the altcoin. 

Ripple’s Chief Executive Officer (CEO), Brad Garlinghouse and President, Monica Long have also shared their support for an XRP ETF. Garlinghouse believes that the launch of an Ethereum Spot ETF would eventually open doors for the introduction of other crypto ETFs, highlighting that an XRP ETF was inevitable. 

On the other hand, Long noted that introducing an ETF would be a highly sensible decision. 

Despite the optimistic remarks, XRP continues to trade sideways, experiencing a 2.28% decline over the past week and dropping to $0.47, according to CoinMarketCap. 

Featured image from PlasBit, chart from TradingView

Source: NewsBTC.com

The post XRP Dominance: Pundit Says Missing This Altcoin Could Be A Big Mistake appeared first on Crypto Breaking News.

The US Securities and Exchange Commission (SEC) has instituted a lawsuit against Metamask developer, Consensys. The Commission alleges that the crypto firm violated securities laws by acting as an unregistered securities broker.

SEC Accuses Consensys Of Violating Securities Laws Using Metamask

According to the court document, the SEC claims that Consensys has acted “as an unregistered broker of crypto asset securities through its MetaMask Swaps service” since October 2020. The Commission also accused the crypto firm of engaging in the unregistered offer and sale of securities through crypto staking programs. 

The SEC stated that Consensys has brokered over 36 million crypto transactions since 2020 through its MetaMask Swaps, at least 5 million involving crypto asset securities. Metamask is known as one of the most widely used crypto wallets. In addition to storing their crypto assets on the application, users can buy and sell cryptocurrencies by swapping one crypto asset for the other. 

This ‘Swap’ service forms the focal point of the SEC’s enforcement action. The SEC claims that some of these crypto assets are securities, and by enabling users to swap these securities, Consensys acted as an unregistered securities broker, thereby violating securities laws in the process. 

The SEC went further to list Polygon (MATIC), Decentraland (MANA), Chiliz (CHZ), The Sandbox (SAND), and Luna (LUNA) as the crypto securities that were made available for trading on Metamask’s swap platform.

Additionally, the SEC accused Consensys of performing a “traditional function of the securities market” by offering and selling securities for Lido and Rocket Pool. The Commission claimed that the staking programs offered by Lido and Rocket Poo are investment contracts and that Consensys was in the wrong by offering these securities through unregistered transactions on its ‘MetaMask Staking’ platform. 

The Genesis Of The Legal Battle Between SEC And Consensys

Interestingly, the SEC’s lawsuit against Consensys comes just months after the crypto firm filed a lawsuit against the Commission, accusing the SEC of an “unlawful seizure of authority.” Consensys sought Judicial relief against a potential action from the SEC. They also asked the court to declare that Ethereum wasn’t a security and that the SEC had no jurisdiction over crypto-related matters. 

The crypto firm looked to have won that battle, considering that the SEC dropped its investigation into Ethereum’s status as a security. However, in the letters informing Consensys about the Commission’s decision to drop its investigation into Ethereum, the SEC had warned the crypto firm that they could bring enforcement actions against them relating to other issues, which they have now done. 

Reacting to the SEC’s lawsuit, Consensys stated that it would “vigorously pursue” the lawsuit it had initially filed against the SEC. The crypto firm also remarked that they had fully expected” the SEC to follow through with its threat of claiming that MetaMask had to be registered as a securities broker. 

Featured image from CNBC, chart from TradingView

Source: NewsBTC.com

The post SEC Serves Fresh Lawsuit To Metamask Developer Consensys – What’s The Problem This Time? appeared first on Crypto Breaking News.

The cryptocurrency market has been a rollercoaster ride in 2024, with many tokens experiencing significant losses. However, amidst the chaos, XRP, the native token of Ripple, has stood out as a beacon of stability. While not immune to the overall market dip, XRP has remained relatively range-bound, minimizing losses and sparking renewed optimism among analysts and investors alike.

Stability Breeds Bullish Sentiment

While Bitcoin and Ethereum have taken significant hits this year, XRP has displayed remarkable resilience. This stability is attributed to several factors, including its utility-driven nature. The altcoin is designed to facilitate faster and cheaper cross-border transactions, a function that remains valuable regardless of market sentiment. Additionally, Ripple’s ongoing partnerships with financial institutions continue to provide a level of stability for the token.

The coin’s recent performance is a testament to its underlying strength. The token’s ability to hold its ground during a bearish market suggests it has a strong foundation and could be well-positioned for future growth.

Analyst Predicts 240% Surge Against Bitcoin

Adding fuel to the bullish fire, prominent crypto analyst Javon Marks has made a bold prediction for XRP. Marks, known for his accurate forecasts, believes the crypto is on the cusp of a major breakout against Bitcoin.

$XRP / #BTC has, on a Logarithmic Scale, broken out of a notable, near year long resisting trend and this can be a sign of a major bullish reversal to come in.

With this breakout, a follow through can result in XRP outrunning Bitcoin by more than 243%!

In Mid 2023, XRP moved… pic.twitter.com/84Aqlp3rLI

— JAVONMARKS (@JavonTM1) June 27, 2024

According to some analysts, we’ve recently witnessed a significant technical development for XRP. The token has broken a year-long resistance trend on the logarithmic scale, indicating a potential major uptrend in the making. If this momentum continues, XRP could experience a staggering 243% surge against Bitcoin.

This prediction echoes a similar price rise XRP experienced in mid-2023. During that period, the token saw a remarkable 100% increase, while the XRP/BTC pair gained a respectable 63%. If Marks’ prediction holds true, the potential gains for XRP could significantly surpass those seen last year.

A New Dawn For XRP?

The analyst community is closely monitoring these developments with growing excitement. XRP’s potential to outperform Bitcoin is seen as a harbinger of a renewed bullish sentiment in the crypto market. With market dynamics shifting and investor confidence potentially returning, XRP could be poised to redefine its position within the cryptocurrency landscape.

Despite the inherent volatility of the crypto market, XRP’s recent resilience and potential for significant gains have captured the attention of investors. As the market navigates these uncertain times, XRP’s journey will be one to watch closely.

Featured image from Lockheed Martin, chart from TradingView

Source: NewsBTC.com

The post XRP Year-Long Curse Broken? Analyst Bullish On Crypto’s 240% Rally appeared first on Crypto Breaking News.

Crypto analyst Altcoin Sherpa has provided a bullish narrative for Fantom (FTM), suggesting that the crypto token could soon make a significant rally to the upside. The analyst also hinted at how Fantom could rise when this happens.  

Fantom Could Rise To As High As $1.2

Based on the chart Altcoin Sherpa shared, Fantom could rise to as high as $1.2 on its next leg up. In the meantime, the analyst noted that the crypto token is consolidating at a key level. He added that he expects Fantom to form a chop range between $0.50 and $0.70 for a bit, so that range could serve as support as it moves to the upside.  

Altcoin Sherpa sounded optimistic about Fantom’s trajectory, stating that he believes FTM will still be a “decent project” going forward, especially with the move to Sonic. In May, the Fantom Foundation announced plans to build Sonic, a layer-1 blockchain with a layer-2 network that connects to Ethereum. 

Crypto analyst Bitcoin Ape also shared a sentiment similar to Altcoin Sherpa, predicting that Fantom could rise to $1.2. The analyst stated that FT’M’s rally could happen once there is a market recovery, with Bitcoin leading the way. Specifically, Bitcoin Ape highlighted a falling wedge pattern formed on Fantom’s chart, which showed that a price rally was imminent. 

Like Altcoin Sherpa, Bitcoin Ape also alluded to Fantom’s pivot to Sonic as a bullish fundamental for the crypto token. The analyst noted that Fantom has been on a “massive revamp lately” with several updates, including the launch of Sonic Labs. He also mentioned the over $100 million in $S (Sonic’s native token) airdrop, which could attract developers and users to Fantom’s ecosystem. 

In the meantime, Bitcoin Ape predicts that Fantom could experience more volatility in the coming days because it is currently oversold. However, once the crypto token leaves its oversold condition, the crypto analyst expects that breakout to happen. 

FTM Could Drop To As Low As $0.45 Before Next Leg Up

Crypto analyst Ijaz Awan recently predicted that Fantom could drop to as low as 0.45 before its next move up. He noted that Bitcoin’s weakness is dragging altcoins like FTM down, which is why Fantom struggles to gain momentum. As such, he predicts that the crypto token could experience a period of consolidation between $0.45 and $0.55 before its next leg up. 

However, the analyst warned that Fantom cannot afford to lose that range of support. He suggested that a drop below that price level would invalidate his structure and could lead to further price declines for the crypto token. 

At the time of writing, Fantom is trading at around $0.54, down over 3% in the last 24 hours, according to data from CoinMarketCap. 

Source: NewsBTC.com

The post Crypto Analyst Says Ethereum Competitor Fantom (FTM) Could Jump To $1.2 appeared first on Crypto Breaking News.

The Shiba Inu community is experiencing a wave of mixed emotions. On the bright side, the long-awaited Shibarium, the project’s layer-2 blockchain, is gaining traction with a significant transfer of tokens and a surge in transaction volume. However, the price of SHIB itself remains stubbornly stagnant, leaving some “Shiba Millionaires” out in the cold.

Related Reading

Shibarium Blazes A Trail, But Can It Spark A Price Rally?

The movement of 35 billion SHIB tokens to Shibarium signifies a crucial step for the Shiba Inu ecosystem. This dedicated network promises faster transactions, lower fees, and a more robust infrastructure for developers and users. This development could be a game-changer, attracting new projects and fostering innovation within the Shiba Inu universe.

35,000,000,000 #SHIB on @ShibariumNet ! Home sweet home where Shiba Inu belongs. Woof pic.twitter.com/OuahXQokv1

— The Bus (@TheBus37643251) June 27, 2024

We’re witnessing the community put its faith in Shibarium. The hope is that a strong Shibarium ecosystem will eventually translate to increased demand for SHIB, driving the price up.

However, the path to price recovery may not be straightforward. SHIB has been stuck in a rut lately, hovering around the $0.000017 mark. This stagnant price, coupled with a recent market downturn, has caused a significant drop in the number of Shiba Inu millionaires. Data shows a decrease of over 300 addresses holding over a million SHIB tokens, suggesting some investors may be losing confidence.

Shiba Eternity To The Rescue? New Products On The Horizon

Shiba Inu isn’t sitting idly by. The upcoming release of Shiba Eternity, a collectible card game featuring the adorable Shiba dog mascot, has injected a dose of optimism into the community. The game’s potential to attract new users and generate revenue could provide a much-needed boost for SHIB.

Shiba Inu is currently trading at $0.000017. Chart: TradingView

Shiba Eternity is a great way to engage the community and potentially attract new investors, some analysts say. The success of the game could be a tipping point for SHIB.

Beyond Shiba Eternity, the Shiba Inu team has a busy roadmap planned. The launch of ShibaHub, a social media platform, and Shibaswap, a decentralized exchange, are just around the corner.

Additionally, the development of a layer-3 testnet paves the way for further expansion and innovation within the Shiba Inu ecosystem.

Related Reading

A Look Ahead: Will The Future Be Ruff?

The future of Shiba Inu remains uncertain. While Shibarium’s progress and upcoming projects offer reasons for optimism, the stagnant price and declining number of millionaires raise concerns.

Price predictions suggesting a 60% surge by July 2nd offer a glimmer of hope, but the accuracy of such forecasts is debatable.

Featured image from Trusted House Sitters, chart from TradingView

Source: NewsBTC.com

The post Shiba Inu Army On The Move: 35 Billion SHIB Invade Shibarium appeared first on Crypto Breaking News.

The Shiba Inu community is experiencing a wave of mixed emotions. On the bright side, the long-awaited Shibarium, the project’s layer-2 blockchain, is gaining traction with a significant transfer of tokens and a surge in transaction volume. However, the price of SHIB itself remains stubbornly stagnant, leaving some “Shiba Millionaires” out in the cold.

Related Reading

Shibarium Blazes A Trail, But Can It Spark A Price Rally?

The movement of 35 billion SHIB tokens to Shibarium signifies a crucial step for the Shiba Inu ecosystem. This dedicated network promises faster transactions, lower fees, and a more robust infrastructure for developers and users. This development could be a game-changer, attracting new projects and fostering innovation within the Shiba Inu universe.

35,000,000,000 #SHIB on @ShibariumNet ! Home sweet home where Shiba Inu belongs. Woof pic.twitter.com/OuahXQokv1

— The Bus (@TheBus37643251) June 27, 2024

We’re witnessing the community put its faith in Shibarium. The hope is that a strong Shibarium ecosystem will eventually translate to increased demand for SHIB, driving the price up.

However, the path to price recovery may not be straightforward. SHIB has been stuck in a rut lately, hovering around the $0.000017 mark. This stagnant price, coupled with a recent market downturn, has caused a significant drop in the number of Shiba Inu millionaires. Data shows a decrease of over 300 addresses holding over a million SHIB tokens, suggesting some investors may be losing confidence.

Shiba Eternity To The Rescue? New Products On The Horizon

Shiba Inu isn’t sitting idly by. The upcoming release of Shiba Eternity, a collectible card game featuring the adorable Shiba dog mascot, has injected a dose of optimism into the community. The game’s potential to attract new users and generate revenue could provide a much-needed boost for SHIB.

Shiba Inu is currently trading at $0.000017. Chart: TradingView

Shiba Eternity is a great way to engage the community and potentially attract new investors, some analysts say. The success of the game could be a tipping point for SHIB.

Beyond Shiba Eternity, the Shiba Inu team has a busy roadmap planned. The launch of ShibaHub, a social media platform, and Shibaswap, a decentralized exchange, are just around the corner.

Additionally, the development of a layer-3 testnet paves the way for further expansion and innovation within the Shiba Inu ecosystem.

Related Reading

A Look Ahead: Will The Future Be Ruff?

The future of Shiba Inu remains uncertain. While Shibarium’s progress and upcoming projects offer reasons for optimism, the stagnant price and declining number of millionaires raise concerns.

Price predictions suggesting a 60% surge by July 2nd offer a glimmer of hope, but the accuracy of such forecasts is debatable.

Featured image from Trusted House Sitters, chart from TradingView

Source: NewsBTC.com

The post Shiba Inu Army On The Move: 35 Billion SHIB Invade Shibarium appeared first on Crypto Breaking News.

The Shiba Inu community is experiencing a wave of mixed emotions. On the bright side, the long-awaited Shibarium, the project’s layer-2 blockchain, is gaining traction with a significant transfer of tokens and a surge in transaction volume. However, the price of SHIB itself remains stubbornly stagnant, leaving some “Shiba Millionaires” out in the cold.

Related Reading

Shibarium Blazes A Trail, But Can It Spark A Price Rally?

The movement of 35 billion SHIB tokens to Shibarium signifies a crucial step for the Shiba Inu ecosystem. This dedicated network promises faster transactions, lower fees, and a more robust infrastructure for developers and users. This development could be a game-changer, attracting new projects and fostering innovation within the Shiba Inu universe.

35,000,000,000 #SHIB on @ShibariumNet ! Home sweet home where Shiba Inu belongs. Woof pic.twitter.com/OuahXQokv1

— The Bus (@TheBus37643251) June 27, 2024

We’re witnessing the community put its faith in Shibarium. The hope is that a strong Shibarium ecosystem will eventually translate to increased demand for SHIB, driving the price up.

However, the path to price recovery may not be straightforward. SHIB has been stuck in a rut lately, hovering around the $0.000017 mark. This stagnant price, coupled with a recent market downturn, has caused a significant drop in the number of Shiba Inu millionaires. Data shows a decrease of over 300 addresses holding over a million SHIB tokens, suggesting some investors may be losing confidence.

Shiba Eternity To The Rescue? New Products On The Horizon

Shiba Inu isn’t sitting idly by. The upcoming release of Shiba Eternity, a collectible card game featuring the adorable Shiba dog mascot, has injected a dose of optimism into the community. The game’s potential to attract new users and generate revenue could provide a much-needed boost for SHIB.

Shiba Inu is currently trading at $0.000017. Chart: TradingView

Shiba Eternity is a great way to engage the community and potentially attract new investors, some analysts say. The success of the game could be a tipping point for SHIB.

Beyond Shiba Eternity, the Shiba Inu team has a busy roadmap planned. The launch of ShibaHub, a social media platform, and Shibaswap, a decentralized exchange, are just around the corner.

Additionally, the development of a layer-3 testnet paves the way for further expansion and innovation within the Shiba Inu ecosystem.

Related Reading

A Look Ahead: Will The Future Be Ruff?

The future of Shiba Inu remains uncertain. While Shibarium’s progress and upcoming projects offer reasons for optimism, the stagnant price and declining number of millionaires raise concerns.

Price predictions suggesting a 60% surge by July 2nd offer a glimmer of hope, but the accuracy of such forecasts is debatable.

Featured image from Trusted House Sitters, chart from TradingView

Source: NewsBTC.com

The post Shiba Inu Army On The Move: 35 Billion SHIB Invade Shibarium appeared first on Crypto Breaking News.

Crypto analyst Zen has released a critical assessment of different scenarios to expect for the Bitcoin price in July. Bitcoin’s price performance in June has undoubtedly left many investors disappointed. This is because the cryptocurrency virtually traded on a decline throughout the month, even falling below $60,000 at some point. While the unfavorable price continues to play out, crypto analyst Zen has flagged some major liquidity pools that could determine Bitcoin’s outcome in July and the next few months in autumn.

Analyst Highlights Potential Bitcoin Liquidity Pools

As mentioned earlier, the recent price decline saw Bitcoin break below $60,000 earlier in the week. Notably, Zen observed that this breakdown represented cleared liquidity under $60,630, which goes along with a former price analysis. Although Bitcoin has since recovered and returned above $60,600, Zen noted that the liquidity clearance suggests there’s still a further risk of Bitcoin falling back to $60,150 in the short term. 

Related Reading

In addition, the analyst pointed out a number of other liquidity price points that may be used to evaluate momentum in July. It’s interesting to note that these liquidity points ultimately serve as both support and resistance areas. In the case of a continued decline, Zen’s analysis points to liquidity pools at $60,260, $59,440, $58,990, and $56,850. Huge transactions by major holders at these points could cause significant price movements. Clearing such pools could spell trouble for investor sentiment, which in turn could eventually cause Bitcoin to dip to $53,000.

“Will it dip to ~53k at some point? That move make sense on Month timeframe, but doesn’t have to happen,” Zen said. On the upside, Zen noted liquidity pools at $61,540, $62,540, $63,260, and $64,920. 

#Bitcoin Daily

Bitcoin cleared liquidity above second liquidity pool at 62440 Got rejected from developing quarter VWAP VAL. Now price most probably will move towards 60650-60150 zone. The rest depends on price action there.

Situation remains the same and requires… pic.twitter.com/LFiiiN9fDH

— Zen (@WiseAnalyze) June 26, 2024

Furthermore, Zen pointed out that Bitcoin is currently portraying contrasting scenarios across different timeframes. On the daily chart, Bitcoin is clearly in a downtrend. Each bounce is getting sold into, indicating that the bears have control of the short-term momentum. On the other hand, the weekly candle timeframe highlights how Bitcoin is effectively stuck in a choppy sideways range right now.

Each rally gets faded, but each dip also attracts buying interest and accumulation. Lastly, despite the recent price decline, Zen’s analysis indicates that the uptrend remains intact in the monthly candle timeframe. 

What To Expect From BTC Price

At the time of writing, Bitcoin is trading at $60,765. According to Zen, a week close above $60,622 will increase the chances of a Bitcoin price upswing in July. On the other hand, a closure below $59,600 will maintain bearish momentum.

Related Reading

Bitcoin has a pretty solid track record in the seventh month. More often than not, July has registered green candles for BTC. This historical tendency could see Bitcoin eyeing potential upswings, especially if the bulls are able to shoot past the liquidity levels on the upside.

BTC price pushes to $61,000 | Source: BTCUSD on Tradingview.com

Featured image created with Dall.E, chart from Tradingview.com

Source: NewsBTC.com

The post Analyst Identifies Bitcoin Liquidity Pools You Should Be Aware Of Going Into July appeared first on Crypto Breaking News.

Crypto analyst Zen has released a critical assessment of different scenarios to expect for the Bitcoin price in July. Bitcoin’s price performance in June has undoubtedly left many investors disappointed. This is because the cryptocurrency virtually traded on a decline throughout the month, even falling below $60,000 at some point. While the unfavorable price continues to play out, crypto analyst Zen has flagged some major liquidity pools that could determine Bitcoin’s outcome in July and the next few months in autumn.

Analyst Highlights Potential Bitcoin Liquidity Pools

As mentioned earlier, the recent price decline saw Bitcoin break below $60,000 earlier in the week. Notably, Zen observed that this breakdown represented cleared liquidity under $60,630, which goes along with a former price analysis. Although Bitcoin has since recovered and returned above $60,600, Zen noted that the liquidity clearance suggests there’s still a further risk of Bitcoin falling back to $60,150 in the short term. 

Related Reading

In addition, the analyst pointed out a number of other liquidity price points that may be used to evaluate momentum in July. It’s interesting to note that these liquidity points ultimately serve as both support and resistance areas. In the case of a continued decline, Zen’s analysis points to liquidity pools at $60,260, $59,440, $58,990, and $56,850. Huge transactions by major holders at these points could cause significant price movements. Clearing such pools could spell trouble for investor sentiment, which in turn could eventually cause Bitcoin to dip to $53,000.

“Will it dip to ~53k at some point? That move make sense on Month timeframe, but doesn’t have to happen,” Zen said. On the upside, Zen noted liquidity pools at $61,540, $62,540, $63,260, and $64,920. 

#Bitcoin Daily

Bitcoin cleared liquidity above second liquidity pool at 62440 Got rejected from developing quarter VWAP VAL. Now price most probably will move towards 60650-60150 zone. The rest depends on price action there.

Situation remains the same and requires… pic.twitter.com/LFiiiN9fDH

— Zen (@WiseAnalyze) June 26, 2024

Furthermore, Zen pointed out that Bitcoin is currently portraying contrasting scenarios across different timeframes. On the daily chart, Bitcoin is clearly in a downtrend. Each bounce is getting sold into, indicating that the bears have control of the short-term momentum. On the other hand, the weekly candle timeframe highlights how Bitcoin is effectively stuck in a choppy sideways range right now.

Each rally gets faded, but each dip also attracts buying interest and accumulation. Lastly, despite the recent price decline, Zen’s analysis indicates that the uptrend remains intact in the monthly candle timeframe. 

What To Expect From BTC Price

At the time of writing, Bitcoin is trading at $60,765. According to Zen, a week close above $60,622 will increase the chances of a Bitcoin price upswing in July. On the other hand, a closure below $59,600 will maintain bearish momentum.

Related Reading

Bitcoin has a pretty solid track record in the seventh month. More often than not, July has registered green candles for BTC. This historical tendency could see Bitcoin eyeing potential upswings, especially if the bulls are able to shoot past the liquidity levels on the upside.

BTC price pushes to $61,000 | Source: BTCUSD on Tradingview.com

Featured image created with Dall.E, chart from Tradingview.com

Source: NewsBTC.com

The post Analyst Identifies Bitcoin Liquidity Pools You Should Be Aware Of Going Into July appeared first on Crypto Breaking News.

Semilore Faleti is a cryptocurrency writer specialized in the field of journalism and content creation. While he started out writing on several subjects, Semilore soon found a knack for cracking down on the complexities and intricacies in the intriguing world of blockchains and cryptocurrency.

Semilore is drawn to the efficiency of digital assets in terms of storing, and transferring value. He is a staunch advocate for the adoption of cryptocurrency as he believes it can improve the digitalization and transparency of the existing financial systems.

In two years of active crypto writing, Semilore has covered multiple aspects of the digital asset space including blockchains, decentralized finance (DeFi), staking, non-fungible tokens (NFT), regulations and network upgrades among others.

In his early years, Semilore honed his skills as a content writer, curating educational articles that catered to a wide audience. His pieces were particularly valuable for individuals new to the crypto space, offering insightful explanations that demystified the world of digital currencies.

Semilore also curated pieces for veteran crypto users ensuring they were up to date with the latest blockchains, decentralized applications and network updates. This foundation in educational writing has continued to inform his work, ensuring that his current work remains accessible, accurate and informative.

Currently at NewsBTC, Semilore is dedicated to reporting the latest news on cryptocurrency price action, on-chain developments and whale activity. He also covers the latest token analysis and price predictions by top market experts thus providing readers with potentially insightful and actionable information.

Through his meticulous research and engaging writing style, Semilore strives to establish himself as a trusted source in the crypto journalism field to inform and educate his audience on the latest trends and developments in the rapidly evolving world of digital assets.

Outside his work, Semilore possesses other passions like all individuals. He is a big music fan with an interest in almost every genre. He can be described as a “music nomad” always ready to listen to new artists and explore new trends.

Semilore Faleti is also a strong advocate for social justice, preaching fairness, inclusivity, and equity. He actively promotes the engagement of issues centred around systemic inequalities and all forms of discrimination.

He also promotes political participation by all persons at all levels. He believes active contribution to governmental systems and policies is the fastest and most effective way to bring about permanent positive change in any society.

In conclusion, Semilore Faleti exemplifies the convergence of expertise, passion, and advocacy in the world of crypto journalism. He is a rare individual whose work in documenting the evolution of cryptocurrency will remain relevant for years to come.

His dedication to demystifying digital assets and advocating for their adoption, combined with his commitment to social justice and political engagement, positions him as a dynamic and influential voice in the industry.

Whether through his meticulous reporting at NewsBTC or his fervent promotion of fairness and equity, Semilore continues to inform, educate, and inspire his audience, striving for a more transparent and inclusive financial future.

Source: NewsBTC.com

The post Analyst John Bollinger Foresees More Consolidation For Bitcoin appeared first on Crypto Breaking News.