News - Page 27

The Solana coin has experienced significant growth in recent months, with its price surging from $17.41 to $31.99—an 84% increase since mid-September. However, the current bullish momentum is facing resistance at the $34 level due to increased selling pressure in the broader crypto market. This resistance is particularly evident as Bitcoin struggles to break past the $35,000 mark.

Ripple CEO Brad Garlinghouse has strongly criticized former SEC Chairman Jay Clayton's comments regarding the agency's corporate regulatory stance. The SEC had been taking action against crypto exchanges and companies since the first quarter of 2023.

A crypto analyst believes that Bitcoin (BTC) still has room to grow, even after its impressive rallies this month. The analyst, known as Kaleo, points to Bitcoin's relative performance against the S&P 500 Index (SPX) as evidence that BTC has decoupled from the stock market. This suggests that BTC has the potential for further upward movement.

In the past two weeks, the Ethereum price has experienced a significant surge, reclaiming crucial resistance levels at $1,600 and $1,700. However, the asset is now facing headwinds as Bitcoin struggles to break past the $35,000 mark, leading to increased selling pressure across the crypto market. This has caused the ETH recovery to stall around the $1,800 level, raising concerns about a potential correction.

Galaxy Digital, the crypto investment firm led by Mike Novogratz, has recently made several bullish statements on the future of cryptocurrencies. The firm is confident that the U.S. Securities and Exchange Commission (SEC) will approve a spot Bitcoin exchange-traded fund (ETF) this year. In addition, Galaxy Digital is actively investing in Bitcoin and Ethereum on decentralized lending platforms Aave and Compound.

The RUNE coin price is currently following a rising channel pattern on its daily chart, indicating potential for further growth. This pattern, combined with a bullish market sentiment, has fueled a significant rally over the past nine days. However, there are concerns about whether this bullish momentum can withstand the emerging market-wide selling pressure.

Bitcoin bulls are maintaining a strong position above the $34,000 mark despite various pressures in the market. Traders are closely watching the market direction as they assess whether the ongoing bullish rally will continue or start to fade.

Crypto analyst Justin Bennett is issuing a warning on Bitcoin (BTC) as the flagship crypto asset has been experiencing double-digit gains over the past week.

As the developments around spot Bitcoin ETF approval catch steam, more and more players are willing to join the bandwagon. Bloomberg’s senior ETF analyst, Eric Balchunas, has revealed that Roundhill, a SEC-registered financial player, has filed for a Bitcoin-covered call ETF.

In recent years, the cryptocurrency market has experienced significant volatility, leading to the collapse of several crypto exchanges and lenders. One such exchange, FTX, faced a similar fate in July 2022. However, it is important to note that FTX was not the only one to suffer. Other prominent players in the industry, including Celsius, Voyager, and BlockFi, also faced bankruptcy.

Billionaire Elon Musk is reportedly aiming to launch financial services on the social media platform X by the end of next year. Musk expects X's comprehensive financial features to roll out by the end of 2024 and compete with traditional banks.

A crypto analyst has recently examined the charts of Bitcoin (BTC) and Solana (SOL) to provide insights into their current status.

Cardano (ADA) has shown strong performance in the recent recovery rally, surging by approximately 20% from a solid support level of $0.24 to its current trading price of $0.286. This upward movement also coincides with the completion of a bullish double-bottom pattern, indicating the potential for further gains.

Sam Bankman-Fried testified at his fraud and conspiracy trial that he started buying Solana's SOL cryptocurrency at 20 cents using 'Alameda Profits.' He believed that the funds came from Alameda's operating profits, as well as third-party lenders.

One of the biggest crypto hardware wallet providers, Ledger, is launching a new service called Ledger Recover. This service is designed to provide users with a backup of their secret recovery phrase, which is crucial for restoring access to crypto wallets in case the hardware device is lost or damaged.

The CoinDesk Computing Sector (CPU) emerged as the top-performing pocket of digital assets, with a significant increase of over 17%. This sector focuses on protocols that aim to develop and support the infrastructure of Web3 and distributed computing.