In a now-deleted message posted on June 23 on X, former Brazilian soccer superstar Ronaldo de Assis Moreira, known as Ronaldinho, declared his support for crypto, stressing that it was time for this industry to reach more people. Ronaldinho stated: “Time for crypto to go mainstream, who’s with me?.” Recently, he was named ambassador of […]
Bitcoin News
Football Star Cristiano Ronaldo Seemingly Ignores $1 Billion Lawsuit After Urging Fans to Sign Up Latest NFT Drop
The Portuguese footballer Cristiano Ronaldo has informed his 111 million followers on the social media platform X to prepare for the unveiling of his latest collection of non-fungible tokens (NFTs) on Binance. In a post dated May 24, Ronaldo encouraged his followers who are eager to relive the NFT journey to register for his fourth […]
Bitcoin News
Stellar The New Star: XLM On Tear As Analyst Predicts $0.47 Price Target
Stellar (XLM), a prominent player in the digital asset landscape, is experiencing a surge in optimism as analysts forecast a significant price increase in the near future. The cryptocurrency, currently priced at .1126, has demonstrated stability amidst market fluctuations, attracting investor interest and propelling a potential bullish trend.
Stellar Breaks Out Of Technical Pattern
This newfound optimism stems from a recent technical breakout. XLM successfully emerged from an Ascending Triangle pattern, a bullish indicator that often precedes price surges. This breakout was further bolstered by a retest of the breakout level, solidifying the potential for an upward trajectory.
Technical analysts are leveraging the measured move technique to predict XLM’s future price movement. This analysis suggests a target range spanning from 0.38 to 0.47 cents, aligning with Fibonacci levels 0.70 to 0.78. This range signifies substantial growth potential, enticing investors seeking profitable opportunities.
Investor Confidence On The Rise
Beyond technical indicators, investor confidence is playing a significant role in Stellar’s projected rise. The recent 2.50% price increase over the last 24 hours underscores this growing momentum. This shift in market sentiment indicates a bullish trend, potentially leading to a notable price appreciation in the coming months.
Analyst Projects Stellar To Reach .47
Adding fuel to the fire, crypto analyst EGRAG CRYPTO recently shared a bullish forecast for XLM’s price trajectory. The analyst predicts a surge towards a promising target of .47, highlighting the potential for substantial growth. This bullish sentiment resonates with investors and enthusiasts, further bolstering confidence in Stellar’s future.
#XLM Rockets Towards 0.47c!
#XLM has successfully broken out of the Ascending Triangle and is currently retesting the breakout level. This sets the stage for a potential bullish move.
The measured move suggests a target range between Fib 0.702-0.786 (0.38-0.47c),… pic.twitter.com/bmezGMnrTI
— EGRAG CRYPTO (@egragcrypto) April 23, 2024
The analysis digs deeper, identifying key Fibonacci retracement levels as crucial milestones for XLM. These levels not only serve as potential profit-taking targets for investors but also signify the strength of the upward momentum.
Interestingly, the analysis suggests that XLM has the potential to surpass traditional technical indicators. Should the cryptocurrency surpass the formidable Fib 1.618 level, it could embark on a remarkable ascent, exceeding expectations and venturing into uncharted territory.
Market Volatility Warns For Caution
While the outlook for Stellar appears promising, it’s crucial to remember the inherent volatility of the cryptocurrency market. Unforeseen events and market fluctuations can significantly impact prices.
Despite the inherent risks, the technical indicators and growing investor confidence paint a compelling picture for Stellar’s future. As the digital asset landscape continues to evolve, Stellar’s potential for significant growth is undeniable.
Featured image from Pexels, chart from TradingView
Former NFL Star Russell Okung’s Crypto Adoption Comments Ignite Bitcoin vs. Stablecoins Debate
Comments on Lightning Network adoption, made by Russell Okung, a former NFL star who is among the first to receive part of his salary in crypto, sparked a discussion that highlighted the opposing opinions of the crypto community about the usage of bitcoin and stablecoins in emerging markets. Russell Okung Ignites Discussion on Bitcoin vs. […]
Bitcoin News
Socialfi’s Shining Star Friend.tech Dims: A Tale of Decline and Disinterest
Just a few months back, social finance (socialfi) platforms were the talk of the town, with Friend.tech leading the charge amidst surging popularity. Yet, as the curtains closed on October 2023, this once-celebrated socialfi platform witnessed a sharp decline in user engagement, and data from defillama.com revealed a steep fall in its revenue.
From Crypto Craze to Quiet Decline
During the height of the socialfi buzz in mid-August, crypto enthusiasts couldn’t stop discussing platforms like Friend.tech, a decentralized network driven by social tokens. Friend.tech introduced a novel concept allowing users to purchase and sell “keys” to initiate conversations with others, essentially letting individuals capitalize on their social influence. By Aug. 21, 2023, Friend.tech boasted an impressive tally of 1.51 million transactions and 0K in revenue within a 24-hour span.
Come mid-September 2023, daily transactions on Friend.tech fluctuated between 250,000 and over 500,000. Yet, the platform began to experience a marked downturn in activity and revenue post-Oct. 29, 2023. Transactions nosedived by nearly 90%, and revenue tumbled from a mid-September peak of .14 million to under ,000 by February 3, 2024. According to defillama.com, the total value locked (TVL) in Friend.tech also saw a reduction, dropping from million to a present .33 million.
Nowadays, mentions of Friend.tech on social media platforms like X are few and far between, save for discussions on its rapid decline. Haseeb Qureshi, the managing partner at the cross-border crypto venture fund Dragonfly, lamented on X, “Wow. Friend.tech really went from crypto darling to desertion in about 4 months.” Besides Friend.tech, the Arbitrum blockchain mimic, Post.tech, too has been facing a similar slump in activity.
A glance at Google Trends further reveals that interest in Friend.tech has been waning since the tail end of August. The search term “Friend.tech” hit its zenith with a score of 100 during the week of Aug. 20 to Aug. 26, 2023. Currently, the search interest for “Friend.tech” on Google Trends hovers at a mere 3 out of 100. Despite the global downturn in interest, the top five regions still showing curiosity in the socialfi platform include China, Nigeria, Singapore, Switzerland, and Portugal.
Why do you think interest in Friend.tech has declined? Share your thoughts and opinions about this subject in the comments section below.
Ethereum Evening Star Could Mean Lights Out On Bull Run
Ethereum over the last several weeks finally began to gain some strength against Bitcoin and other top performing cryptocurrencies. But in the past few weeks, the upside has since been almost entirely erased.
The up – then right back down – price action has formed a potential bearish Japanese candlestick reversal signal. Will ETHUSD continue down further, or surge back into an uptrend? We’ll explore the technical signals to watch for.
Ethereum ETHUSD Possible Reversal Signal
The two top cryptocurrencies by market cap, Bitcoin and Ethereum, have had an unusual divergence between the two assets in terms of price action. While Ethereum bottomed early in 2022, Bitcoin found its bottom later in November of the same year. But in 2023, BTC outperformed ETH by a wide margin.
All this started to change recently as spot BTC ETF news began to cool down, and ETH ETF rumors began to swirl. Post-approval selling of BTC, among other factors, have caused an over 20% correction in Bitcoin and Ether. Price action in ETHUSD, however, has formed what appears to be an evening star candlestick pattern.
In Japanese candlestick analysis, an evening star pattern is a possible bearish reversal pattern, with enough potential to change a bull market to a bear market.
All About The Evening Star Pattern
An evening star is a three-candlestick pattern consisting of a tall white candle, a doji, and a large black candle that wipes out at least 50% of the first white candle. The more of the white candle that is engulfed, the stronger the evening star signal can potentially be.
The pattern helps reveal the underlying market sentiment. The large white candle shows increased enthusiasm and strength by bulls, which is met with resistance and confusion. Selling eventually kicks in, as bears regain control and show surprise strength against bulls.
With any Japanese candlestick pattern, context is important. The reversal signal appearing at the top of a rally and with bearish technical indicators firing gives it more possible significance. The same signal appeared at the peak of the 2021 bull market, kicking off an 82% drawdown.
The candlestick pattern is only confirmed after a weekly close. It also requires follow through by bears, pushing ETHUSD to new 2024 lows. If bulls can make a stand and take back 50% or more of the candle, this signal could be invalidated.
Star Atlas: A New Era in Gaming and Blockchain
PRESS RELEASE.
Launching with LBank: A Promising Beginning
Star Atlas, a pioneering force in the fusion of gaming and blockchain, has taken a significant leap forward with the listing of its ATLAS token on LBank. This milestone not only marks a new chapter in its journey but has also sparked a notable surge in market interest, evidenced by a 60% increase in ATLAS’s value since its lowest point. This uptick reflects the growing excitement and confidence among investors and gamers alike, drawn to Star Atlas’s innovative approach.
The Visionary Roadmap
At the heart of Star Atlas’s recent showcase at the 2023 Breakpoint keynote is an ambitious roadmap that marries the thrill of gaming with the revolutionary capabilities of blockchain technology. This forward-thinking plan is setting a new benchmark in the virtual gaming world, all underpinned by the power of the Solana blockchain.
Revolutionizing the Gaming Experience
In the last three years, Star Atlas has been meticulously constructing its digital universe. The release of the Unreal Engine 5 game, now on the Epic Games Store with version R2.1, marks a significant milestone. This version is not just about solo gaming; it introduces an exhilarating multiplayer dimension with dogfighting arenas, seamlessly merging in-game NFT assets with its digital marketplace.
Raising the Bar with R2.2
The upcoming R2.2 release promises to elevate the multiplayer gaming experience even further. Featuring competitive combat racing and groundbreaking on-chain features like blockchain-linked ship configuration and extensive mastery and XP systems, Star Atlas is setting a new standard in real-time multiplayer metaverse gaming, managing up to 30,000 users simultaneously.
Expanding Beyond the MMO
Star Atlas’s ambition extends beyond its Unreal Engine MMO world. With the Star Atlas: Golden Era, a browser-based strategy game fully integrated with the Solana blockchain, the gaming universe demonstrates its commitment to expand across different platforms. This game enhances the metaverse experience with advanced guild systems and on-chain architecture.
Empowering Developers and Building Community
Understanding the importance of community and collaboration, Star Atlas has initiated an open IP policy and a comprehensive build program for developers. This move has inspired over 16,000 downloads of its development kits, fostering a community of innovation around the Star Atlas universe.
Building a Digital Nation-State
The project’s keynote highlighted Star Atlas’s broader vision: creating more than just a game, but a digital nation-state powered by a community-driven economy, all enabled by Solana’s blockchain technology. The upcoming year is poised to showcase the significant progress made towards this ambitious vision.
A Future Forged Together with LBank
In redefining the MMO metaverse experience, the collaboration with LBank is pivotal. This partnership isn’t just about supporting Star Atlas’s roadmap; it’s a signal of a future where gaming and blockchain are seamlessly intertwined, opening up new realms of possibilities in the digital world. The journey of Star Atlas, strengthened by LBank, exemplifies the power of strategic partnerships in shaping the future of blockchain and gaming.
Learn More about STAR ATLAS:
Official Website: https://staratlas.com/
Contract: https://solscan.io/token/ATLASXmbPQxBUYbxPsV97usA3fPQYEqzQBUHgiFCUsXx
Twitter: https://twitter.com/staratlas
Discord: https://discord.gg/staratlas
YouTube: https://www.youtube.com/@StarAtlasGame
Game: http://labs.staratlas.com
Game Store: https://store.epicgames.com/en-US/p/star-atlas-bead34
Governance: https://govern.staratlas.com
This is a press release. Readers should do their own due diligence before taking any actions related to the promoted company or any of its affiliates or services. Bitcoin.com is not responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods or services mentioned in the press release.
NBA Star Seeks to Void Property Sale After Learning of Canadian Crypto King’s Past Occupancy
National Basketball Association player Shai Gilgeous-Alexander is suing owners of the lakefront mansion previously occupied by Canada’s “crypto king.” The basketball player also claimed to have learned of Pleterski’s occupancy of the property after his girlfriend reported the threatening visit to the police.
Voiding Sale Agreement
Canadian professional basketball star, Shai Gilgeous-Alexander, is reportedly suing owners of the lakefront mansion previously occupied by Ontario’s self-proclaimed crypto king Aiden Pleterski. In his suit, Gilgeous-Alexander accuses the property’s unidentified owners of failing to disclose Pleterski’s tenancy in the ,000-per-month mansion.
According to a CBC report, the National Basketball Association (NBA) star claims to have been threatened by a victim of Pleterski’s collapsed crypto investment scheme. Gilgeous-Alexander also claimed to have learned of Pleterski’s occupancy of the property after his girlfriend reported the threatening visit to the police.
Upon learning this, Gilgeous-Alexander and his girlfriend are said to have vacated the .4 million property and filed the lawsuit. The basketball player insists the property owners’ alleged misrepresentation is enough to void the sale agreement.
“The defendants knew that if the history of threatening visits to the property, and ongoing risk of same, was disclosed, then no reasonable person looking at properties of that type, quality, and price would purchase it,” the NBA star said in his statement of claim.
the_ad_placement id=”article-middle-content”]
Aiden Pleterski’s Abduction
However, lawyers for the property’s sellers reportedly rejected the misrepresentation claim. Since the collapse of his crypto investment platform, Pleterski (24) received threats from investors who lost more than million. At one point, he was reportedly kidnapped by a man who claimed to have lost 0,000.
Meanwhile, a Toronto-based real estate lawyer, John Zinati, has cast his doubts on the lawsuit’s success prospects. Still, Zinati said if Gilgeous-Alexander and his girlfriend were to prevail, the court would only award money to fix the property’s problem.
“The law is generally more inclined to award damages … awarding money to fix a problem, not saying you can get out of the deal,” the lawyer said.
What are your thoughts on this story? Let us know what you think in the comments section below.
NFL Star Trevor Lawrence and Youtube Influencers Settle Allegations Over FTX Endorsements
In a recent court document, Jaguars’ quarterback Trevor Lawrence and two others have chosen to settle allegations that they misled investors, leading to losses in the FTX collapse. Lawrence, among several high-profile endorsers of FTX, has not publicly revealed the terms of his settlement.
Jaguars’ Quarterback Trevor ‘Sunshine’ Lawrence to Settle FTX Endorsement Lawsuit
On Friday, Bloomberg’s Jef Feeley revealed that YouTube personalities Tom Nash and Kevin Paffrath, along with NFL star Trevor Lawrence, have settled allegations of misleading investors through their endorsement of the now-bankrupt crypto exchange, FTX. Lawrence, the quarterback for the Jaguars, joined FTX as a partner in April 2021.
By May 2021, Lawrence announced intentions to transform his entire signing bonus into cryptocurrency. That year, his bonus was a staggering million. Lawrence expressed his excitement about collaborating with Blockfolio, an FTX subsidiary. FTX had previously acquired Blockfolio, a leading portfolio tracking app, in 2020 for a cool 0 million.
Discussing the partnership, Lawrence stated:
When it comes to my crypto portfolio, I wanted a long-term partner in the space that I could trust.
The renowned NFL quarterback is just one of many celebrities facing accusations of misleading investors through their FTX endorsements. Notably, Lawrence was part of a significant group of NFL players who embraced cryptocurrency in 2021, right before the crypto market soared to nearly trillion in November.
The settlement terms remain undisclosed by Lawrence and the Youtube duo. The attorneys spearheading the billion lawsuit against FTX’s celebrity promoters informed Feeley that they’re currently in “ongoing confidential, settlement discussions” with other parties. They anticipate the “likelihood that other FTX settlements will be reached.”
What do you think about Trevor Lawrence and the Youtube influencers settling in this lawsuit? Share your thoughts and opinions about this subject in the comments section below.
Shark Tank Star Kevin O’Leary Warns of Emerging Financial Crisis, Bank Failures
Shark Tank star Kevin O’Leary, aka Mr. Wonderful, has sounded the alarm about an impending financial crisis. “We have a crisis emerging,” he warned, emphasizing that small business owners will be “cut off at the regional bank level.” He stressed: “You’re going to hear a lot of people crying about this in the next few months.”
Kevin O’Leary Warns About Emerging Financial Crisis
Shark Tank star and O’Leary Ventures chairman Kevin O’Leary, aka Mr. Wonderful, warned about an impending financial crisis in an interview with Fox News, published Saturday. He said:
We have a crisis emerging … I’m talking about companies with five to 500 employees, which represent over 60% of our economy.
“If you’re in the S&P 500, you have no trouble financing your business. You can’t say that about small business anymore. The cost of capital has gone through the roof,” the Shark Tank star stressed. He explained small business owners will be “cut off at the regional bank level.” He emphasized: “They’re not lending. The loan books closed down … you’re going to hear a lot of people crying about this in the next few months.”
The Federal Reserve has raised interest rates from near-zero to around 5.5%, the highest level since 2001, to combat inflation. Fed officials have indicated that more rate hikes are coming. Fed Chair Jerome Powell said in August: “We’re prepared to further tighten if that’s appropriate.”
O’Leary warned that the current count of around 4,100 regional banks is expected to decrease to 2,000 over the next three years, raising concerns among people about depositing their money in banks. He cautioned:
During that period, people are very nervous about putting their money in the bank. Because if another one fails, and you have your cash in there right now, you’re only guaranteed for 0,000.
Several regional banks have failed in the U.S. this year. Heartland Tri-State Bank collapsed in July, Silicon Valley Bank and Signature Bank in March, and First Republic Bank in May. Moreover, Silvergate Bank announced voluntary liquidation earlier this year. In July, Mr. Wonderful similarly warned that more regional banks in the U.S. will fail as the Federal Reserve continues to hike interest rates.
O’Leary is particularly concerned about government policies of giving money to large corporations and not small businesses. “We’ve got the CHIPS and Science Act. Where’s that money going? Behemoth giant companies in the S&P 500. The Inflation Reduction Act, another trillion not even printed yet. All going to big guys. Now, that’s great. They represent 40% of the jobs in America, the S&P 500. Everybody knows the S&P 500 is the biggest index in the world. But 60% of America is small business. That’s where 60% of the jobs come from. We’ve given nothing to them. And so they’re struggling because the Fed is raising rates up to 5.5% in a matter of months,” he shared with Fox News.
Moreover, the Shark Tank star opined: “Meanwhile, we’re going to write trillion to the big guys. That in itself is inflation. But it seems unfair to me to support a behemoth company that has a lot of its employees outside of America and not my company’s small business.” O’Leary stressed:
I’m in the real world talking to CEOs of small companies that are family-owned in America, in almost every state, every day. They’re not happy either.
What do you think about Kevin O’Leary’s financial crisis warning? Let us know in the comments section below.