• Bitcoin (BTC) was well-bid at about the $28,000 mark on Friday and is currently trading at the $27, 698 level.
• Trader Ali Martinez said that if the bullish trend turns out to be accurate, BTC may approach the $34,000 level.
• 310,000 Ethereum (ETH) were removed from exchange wallets over the course of 48 hours according to data from Santiment Feed.
Bitcoin Rally Continues
Bitcoin (BTC) was well-bid at about the $28,000 mark on Friday and is currently trading at the $27, 698 level. The recent rise in buying pressure has attracted a notable inflow of cash for Bitcoin providing it an upward momentum and raising its rank higher among investment products. According to a cryptocurrency analyst, the price charts for Bitcoin are flashing a bullish pattern which might cause it to reach up to $34K.
Bullish Megaphone Pattern
Trader Ali Martinez has stated that if this bullish megaphone pattern is governing behind Bitcoin’s price action then it could target up to $34K soon. This week around 310,00 Ethereum (ETH) have been taken out of known crypto exchange wallets in last 48 hours according to data from Santiment Feed worth 558 million dollars which indicates investor cold wallet accumulation.
US Federal Reserve Decision
After a weekend surge, Bitcoin temporarily took a halt and drifted below $27000 on Wednesday as US Federal Reserve announced increasing interest rates by 25 basis points as part of its campaign to contain inflation. Yet by Thursday, the leading crypto asset had made up those losses again indicating strong conviction in buyers and sellers both alike for this market leader cryptocurrency asset.
Crypto Exchange Outflow
Cryptocurrency exchange outflow has been observed as a bullish sign since it indicates investor cold wallet accumulation which supports further growth in prices as more investors begin accumulating their assets outside exchanges due to increasing demand while reducing supply available in markets driving prices higher at times like these where we see most other traditional markets still reeling under Corona pandemic uncertainty with slow recovery progress compared to cryptocurrencies like bitcoin which are showing strong recovery signs even during these times with strong support from investors who have faith in its potential despite occasional volatility seen during periods such as these.
The rising demand for cryptocurrencies like bitcoin can be attributed mainly due to growing apprehensions related with traditional markets amidst corona pandemic uncertainty coupled with growing confidence amongst investors towards digital currencies with increasing investor adoption rate alongwith innovating technology developments being made regularly for smoother transactions making them increasingly attractive investments which can lead them towards reaching new highs soon enough provided current market conditions remain stable or become better gradually over time given current investments trends seen so far recently with increased buying pressure witnessed lately hinting towards possible future targets being achieved soon enough if current scenario persists further ahead too!
• Cardano’s Total Value Locked (TVL) has seen a 20% growth in recent months, indicating the increasing popularity of its DeFi ecosystem.
• ADA is gaining traction among institutional investors and large wallet holders, with volume of large transactions exceeding $100,000.
• The current market conditions do not favor a bull run for ADA, however when it does begin, Cardano’s network improvements could lead to surprising efficiency in price.
Overview of Cardano’s TVL
Cardano’s Total Value Locked (TVL) metric has grown by 20% over the past few months, illustrating the increasing prominence of its DeFi ecosystem. Data from DeFi Llama indicates that as ADA gains traction among institutional investors and big wallet holders – with large transactions exceeding $100,000 – its price has steadily increased by 8%.
Previous All-Time Highs Remaining Far Away
Despite TVL increasing significantly this year, Cardano’s previous all-time high remains far away. When ADA reached its ATH of $3.09 in September 2021, the TVL stood at an impressive $3 billion; therefore the asset requires a dramatic push similar to its 2021 market rally if it is to approach this level again.
Market Conditions Unfavourable for Bull Run
The current market conditions are not conducive to a bull run for ADA; instead it is hovering around the $0.33 mark unable to break through resistance at $0.40 for over two months now. An increase of 20% in TVL is a positive development but alone might not bring about the desired results – that being reaching its previous highs of $3 billion which could take years given the global economy situation.
Network Improvements Gaining Momentum
Fortunately despite financial hardships, Cardano network is showing significant improvement – recently achieving full peer-to-peer capabilities with node 1.35.6 – so when the bull run begins and prices start rising again then ADA could provide surprising efficiency due to these advancements on their platform.
To conclude, while an increase of 20% in TVL is encouraging news it alone does not guarantee that ADA will reach its previous all time highs anytime soon – especially considering global economic downturn – however if bullish momentum reignites then Cardano’s improved network should ensure efficient performance leading up to those highs eventually being reached once more in future markets
• CryptoGPT is a blockchain technology designed to bring about a trillion-dollar data and artificial intelligence revolution.
• Fake giveaways have been associated with the ‚CryptoGPT‘ hashtag on Twitter, as well as numerous accounts with identical appearances.
• A pump and dump scheme is being used to scam people, where developers of this scheme employ deceptive statements and hype to induce investors.
What is CryptoGPT
CryptoGPT is a blockchain technology designed to usher in a trillion-dollar data and artificial intelligence (AI) revolution. This idea is unique as it combines AI and blockchain technology to create an ecosystem that handles data as an asset class. CryptoGPT has gained a lot of attention recently due to its unique features, such as the AI-to-Earn feature which has become popular over the past few months. It’s the main way the company will supply users for its app-developing clients.
„CryptoGPT,“ a prominent hashtag on Twitter, is related to the artificial intelligence cryptocurrency token. Alongside it, numerous Twitter accounts with strikingly identical appearances have also appeared; some of them are promoting probably fraudulent giveaways. With an aim of capturing attention in the market, „Download CryptoGPT“ was trending, with 6,185 tweets associated with it, and GPT-4, an unreleased neural network created by OpenAI was also trending with 4,683 tweets. The term “CryptoGPT” is also used by dozens of other Twitter accounts claiming that this alleged startup enables users to leverage blockchain and AI for monetizing their data.
Pump & Dump Scheme
The pump and dump scheme is employed for this purpose by people trying to make money dishonestly from this project’s success. The developers of such schemes usually orchestrate campaigns of deceptive statements and hype in order to induce investors into buying tokens from them; they then liquidate their stake secretly when prices rise. Blockchain analytics company PeckShield issued a warning earlier this year about dozens of suspected „pump and dump“ coins that claimed connections with CryptoGPT but are actually unrelated projects or scams altogether.
Connections To ChatGPT AI Chatbot
It doesn’t appear like there are any direct connections between CryptoGpt project and ChatGpt AI chatbot which has taken internet by storm recently despite being mentioned together frequently on social media platforms such as twitter .
In conclusion ,the new crypto currency project ‘Crypto Gpt’ seems very promising but one should always remain vigilant against various schemes run by scammers who try capitalize on genuine projects success .
• Bitcoin price has been declining heavily, raising concerns over the upcoming rally ahead.
• The pre-halving consolidation appears to be reaching its peak beyond which a healthy rally may be imminent.
• Trading view suggests that post-halving event, the price of Bitcoin will surge magnificently to new highs – possibly beyond $200K after the next halving.
Bitcoin Price Analysis
The star crypto is believed to remain consolidated for a while ahead; however, the impending trend continues to remain misty. The market participants believed that trend would rise above $25,000 somewhere before the end of Q1 2025. The recent market crash caused by an external factor raises concerns about the future trend.
Bitcoin’s price fell below the ascending trend line it had been following since the beginning of 2023. The breakout appears to be tremendous, as the path for recovery remains distinct. If historical price action is considered, BTC has always consolidated in an ascending manner before each halving.
Trading View Analysis
As per an analyst Trader Tradigrade, Bitcoin top may surge beyond $200K after the next halving which is scheduled at block 840,000 on April 28th 2024 where-in BTC rewards would be reduced from 6.25 to 3.125 BTCs respectively. Therefore a fine upswing may be expected during second half of 2024 and BTC price might rise high forming new ATHs (All Time High).
It is predicted that before next halving date estimated in 2024, BTC will reach $50K for second top as shown in Long term Bitcoin chart pattern correlated to bitcoin halvings.
Despite recent market crash caused by external factors raising concerns about future trends of Bitcoin prices, trading view analysis suggests that post-halving event could lead towards immense growth and success with BTC prices surging higher than ever before – potentially beyond $200K after next halving!
- AlienFi DEX combines many games and NFTs into one platform, allowing users to stake, trade, and farm tokens on Arbitrum.
- Users can earn more $ALIEN tokens by staking existing tokens in staking pools.
- AlienFi provides a user-friendly environment for effortless and convenient staking experience with complete control over assets.
Introducing AlienFi DEX
AlienFi DEX is an integration of many games and NFTs into a single place, providing a seamless user experience that goes beyond what other platforms offer. Users are able to stake their tokens on Arbitrum while playing various on-chain games, engaging in new launches and getting the most out of their tokens without having to move funds between platforms or switch frequently.
Stake Tokens for Rewards
Users can increase the amount of money they get from their $ALIEN tokens by staking them in pools. In these pools, users have the freedom to decide how they want to manage their revenue stream because they are allowed to stake and unstake their tokens at no cost using smart contracts. These contracts ensure that rewards are distributed safely, transparently and equitably.
Complete Control Over Assets
When it comes to managing your assets, you have total control over them as you can choose whether you want to stake or unstake your tokens anytime from the flexible staking pools or lock your assets in time lock staking pools for a specific period of time. Both options are available from the flexible staking pools.
Benefits of AlienFi Pools
The customizable feature offered by AlienFi enables users to earn rewards by staking their $ALIEN coins in different pools which present a combination of risk and potential payout depending on each user’s preferences since there are no lockup periods involved.
Summary of SEC’s Hypocrisy Spotlighted: Does Ripple Deserve Harsher Punishment Than Terraform Labs?
- The United States Securities and Exchange Commission (SEC) is facing scrutiny for its recent lawsuit against Terraform Labs and its founder, Do Kwon.
- The SEC seeks to punish only the defendants in the Terra case, but plans to pursue legal action against Ripple and anyone associated with the company.
- The SEC alleges that Terraform Labs and Kwon conducted a multi-billion dollar crypto asset securities fraud.
Background of the Case
The United States Securities and Exchange Commission (SEC) is facing scrutiny for its recent lawsuit against Terraform Labs and its founder, Do Kwon. Court documents suggest that the regulatory body is treating Terra and Kwon with significantly less severity than Ripple, raising questions about the SEC’s inconsistent approach to regulating the cryptocurrency industry. The SEC seeks to punish only the defendants in the Terra case, but plans to pursue legal action against Ripple and anyone associated with the company, including employees, agents, and lawyers. Ripple has fiercely defended its position that XRP is not a security. The company argues that it should be held to the same standards as Ethereum, which was deemed not to be a security by former SEC chief in 2018. This case has far-reaching implications for the future of cryptocurrencies in America.
Allegations Against Terraform
The complaint asserts that Terraform Labs sold an „inter-connected suite of crypto asset securities“ through unregistered transactions and misled investors about the stability of their stablecoin. Furthermore, it claims that they marketed their Anchor Protocol without disclosing all of its risks involved. These allegations form part of a broader attempt by regulators to regulate this rapidly growing industry.
Ripple recently achieved a minor victory when they managed to prove that XRP is a software code rather than a security according to SEC regulations. However, Brad Garlinghouse (the CEO of Ripple) emphasized during his speech at WEF 2023 summit that this case could have far reaching implications for other cryptocurrencies in America if it does not turn out positively for them.
Implications h2 >
This case serves as an example of how US government can use regulation by enforcement system on cryptocurrency industry – if one large organisation such as Ripple doesn’t comply then all small companies are likely going find themselves under more intense scrutiny from regulator bodies such as SECs or CFTCs etc.. This will have huge implications on how crypto companies operate within American jurisdiction as well as globally due international laws being intertwined into these cases too .
Conclusion h 2 >
It remains unclear what will happen next regarding these cases between Ripple/Terra/SEC; however one thing seems certain – Congress needs to take additional steps towards regulating this fast moving sector properly in order for investors/companies alike feel safe investing into these new technologies without fear punishment or government intervention .
• XRP has been displaying immense strength, despite the crypto market’s turmoils.
• The upper hand gained in the lawsuit against the SEC could have been a catalyst for XRP price growth.
• A well-known analyst predicts that XRP could soon reach prices of between $13 and $22.
XRP Price Strength
XRP has displayed immense strength throughout the crypto market’s turmoils, maintaining its value and even gaining ground over other coins. This recent increase in price may be due to an upper hand gained by Ripple in its lawsuit against the SEC, which may act as a catalyst for further growth in the coming days.
A well-known analyst known as Dark Defender has predicted that XRP will soon reach prices of between $13 and $22. After finding a base to rebound from following a couple of bearish daily closes, XRP is currently testing one of its important levels at a 50-day MA and attempting another rebound. The analyst points to a monthly MACD wave turning bullish, similar to when it turned bullish back in October 2020 and caused an 900% spike in price up to around $2 per token.
Ascending Trend Line
The price of XRP is currently trading along an ascending trend line, indicating that there could be potential for an upcoming 10x to 15x rally which could push the token beyond double digit figures. With this potential growth on the horizon, investors are keeping their eyes peeled on Ripple’s progress with its legal situation with SEC regarding whether or not they will label its tokens as securities or not.
SEC Case Against LBRY
The sentiments surrounding Ripple have become increasingly bullish after the SEC dropped their arguments against LBRY claiming that their tokens were not securities – giving hope to investors who are expecting a similar outcome for Ripple vs SEC case which could further fuel future price rises if successful.
Overall, XRP is looking strong both technically and legally – with Dark Defender’s predictions providing optimism around what lies ahead for investors should these predictions come true. While it remains unclear how exactly things will turn out with regards to Ripple’s lawsuit against SEC – investors are watching closely as any news from this front could have major effects on future pricing movements
• Popular crypto analyst Lark Davis says he won’t buy XRP even if Ripple wins its case against the SEC.
• Davis also slammed Cardano (ADA), saying it has managed to stay in the top 10 cryptocurrencies despite not deserving it.
• Davis believes Cardano has little decentralized finance infrastructure, very few retail dApps that are operational, and an average of just 70,000 transactions per day.
Cryptocurrency expert and investor Lark Davis has recently voiced his opinion on two popular tokens: XRP and Cardano (ADA). Davis, who is known for his expertise in the field, stated that he does hope Ripple wins its case against the Securities and Exchange Commission (SEC). However, he also made it clear that he will not be investing in XRP despite the outcome of the case.
In addition to that, the analyst also had some harsh words for Cardano (ADA), criticizing the token for its continued presence in the top 10 cryptocurrencies despite not really deserving it. According to Davis, Cardano has almost no decentralized finance infrastructure, very few retail dApps that are operational, and an average of just 70,000 transactions per day. This, he believes, is not enough to justify its continued presence in the top 10 cryptocurrencies.
Davis’ comments have sparked an intense debate among the crypto community, with some people supporting his opinion and others arguing that Cardano has potential to make a comeback. However, the fact remains that the token has been struggling for some time now and it remains to be seen if it can regain its lost ground in the coming days. As for Ripple and XRP, the legal battle is still ongoing and it will be interesting to see how the situation develops. Despite all this, Davis has made it clear that he will not be investing in XRP regardless of what happens.
• Blockchain lawyer John E. Deaton believes that the SEC will not be granted summary judgment on whether Ripple executives engaged in illegal XRP sales.
• Deaton argues that the SEC should have informed Ripple executives that XRP is a security during the three meetings they had.
• The blockchain lawyer believes that the jury will have an easy time deciding against the SEC on this matter.
The legal battle between Ripple and the Securities and Exchange Commission (SEC) over the sale of XRP is heating up. Ripple CEO Brad Garlinghouse recently criticized the SEC for classifying Ethereum as a non-security and Ripple as a security. Now, prominent blockchain lawyer and founder of crypto-laws.us, John E. Deaton, has come to Ripple’s defense and argued that the SEC will not be granted summary judgment on whether Ripple executives engaged in illegal XRP sales.
Deaton believes that the SEC should have informed Ripple executives that XRP is a security during the three meetings they had. In response to a challenge in the comment section that Ripple should have taken advice from its legal team on whether XRP is a security or not, Deaton argued that Ripple had no way of knowing that XRP was a security without the SEC informing them. He believes that this will be a major factor in the jury’s decision, as it will be easy for them to find in favor of Ripple.
Ultimately, Deaton believes that Ripple will eventually win against the SEC in this legal battle. He argued that the SEC should have been more explicit in their warnings to Ripple executives and that the jury will likely find in favor of Ripple based on this fact. As the legal battle between Ripple and the SEC continues, it will be interesting to see if Deaton’s predictions come true.
• Ripple CEO Brad Garlinghouse recently revealed that the blockchain payments company had exposure to FTX, leasing around $10 million in XRP to the now-defunct crypto exchange.
• Last November, FTX and over 130 companies filed for bankruptcy protection after a bank run exposed an estimated $8 billion hole in its balance sheet.
• Ripple frequently gives short-term XRP leases to market makers and XRP participants for sales, typically returned to Ripple.
Ripple, the blockchain payments company, has recently been exposed to the now defunct crypto exchange FTX. In a recent fireside discussion on CNBC’s Tech Transformers at Davos, Ripple CEO Brad Garlinghouse revealed that the company had leased around $10 million in XRP to FTX. He stated that Ripple is hopeful to receive some or all of it back through the bankruptcy process but noted that it is not too consequential to the business as it only represented 1% of Ripple’s liquid assets.
The financial trouble that Ripple encountered with FTX began last November, when the exchange and over 130 companies filed for bankruptcy protection after a bank run exposed an estimated $8 billion hole in its balance sheet. In just 24 hours, the company’s value fell from nearly $32 billion to $1.
Ripple typically gives short-term XRP leases to market makers and XRP participants for sales. These leases are typically returned to Ripple upon expiration. However, with the fraud that Sam Bankman-Fried allegedly committed, it is unclear what the company will receive from the lease.
In the meantime, Ripple’s conflict with the SEC persists as the legal battle drags on, with the latest development being the SEC’s motion to deny the motion to dismiss that was filed by Ripple. While there is still uncertainty surrounding the future of Ripple, the company and its CEO remain hopeful that it will be able to recover its exposure to FTX and come out on top.