PRESS RELEASE. Zilliqa, the high-throughput, low-fee layer 1 blockchain platform, is thrilled to announce its strategic partnership with Gravity Team, a leading algorithmic market maker and liquidity provider in the cryptocurrency space. This collaboration is poised to significantly enhance liquidity within the Zilliqa ecosystem, particularly in global and emerging markets, providing investors with increased access […]
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Fidelity’s Director of Global Macro Sees Bitcoin as ‘Exponential Gold’ on Store of Value Team
Fidelity Investments’ Director of Global Macro sees bitcoin as “exponential gold” and “an aspiring player on the store of value team.” According to his analysis, bitcoin’s price is “driven primarily by the growth in its network, which is in turn driven by bitcoin’s unique scarcity feature, as well as the monetary and fiscal policy cycle, […]
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Allegations of ‘Rug Pull’ Arise After Gemholic Team Withdraws $3.5M in Previously Locked ETH
On June 7, the team behind the Zksync project Gemholic withdrew 921 previously locked ethereum tokens in a suspected rug-pulling incident. The Gemholic team executed the theft despite reportedly completing the blockchain security firm Solidproof’s Know Your Customer (KYC) process. Zksync’s v24 Upgrade The layer two (L2) Ethereum blockchain scaling protocol, Gemholic, faced allegations of […]
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The Incrypted Team Will Host the Online Marathon 2024
PRESS RELEASE. The Online Marathon 2024 event, which Incrypted team is organizing as part of Ukrainian Blockchain Week, will take place from June 20 to 22, 2024. This online conference will bring together leading representatives of the crypto industry. The event will provide an opportunity to become a part of a dynamic community that promotes […]
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GCR’s Hack Possibly Tied to Solana’s CAT Coin Team, Onchain Sleuth Zachxbt Reports
On May 26, the trader known as GCR was allegedly hacked, possibly by the team behind the Solana-based meme coin CAT, as suggested by onchain sleuth Zachxbt. Prior to the hack, an address linked to CAT’s team used funds from a manipulated token launch to open long positions in ORDI and ETHFI, accumulating over ,000 […]
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Brace For Impact: Worldcoin Team Plans To Sell 1.5 Million WLD Tokens Every Week For 6 Months
Worldcoin (WLD) could be the victim of a significant downtrend in the coming weeks. The team plans to sell as many as 1.5 million WLD tokens over the next six months, which could bring about massive selling pressure and affect the token’s price.
Details About The Proposed WLD Token Sale
Worldcoin revealed in a blog post that World Assets (a subsidiary of the Worldcoin Foundation) will sell between 500,000 and 1.5 million Worldcoin tokens weekly to a group of institutional trading firms outside the United States. This token sale will be done through private placements and is expected to last up to six months.
Therefore, as many as 36 million WLD tokens could be sold under this arrangement. Interestingly, these tokens do not form part of the current circulating supply, as Worldcoin stated that “the circulating supply of WLD will thus increase correspondingly” as the token sales progress. That means Worldcoin’s circulating supply could see an 18.6% increase to over 229 million WLD tokens once the private sale is done.
This development is undoubtedly a cause for concern for WLD holders, given the impact it could have on the crypto token’s price action. However, Worldcoin tried to downplay the effect of this token sale, noting that a weekly sale of between 500,000 and 1.5 million WLD tokens represents “less than 0.1% to 0.4% of the current weekly trading volume.
Meanwhile, World Assets “may seek to include a 40-day lock-up period restricting the resale of WLD by trading firms,” Worldcoin remarked. This could also help reduce the high volatility that could arise from an immediate sell-off by these trading firms.
The Worldcoin Ecosystem
WLD is the native token of Worldcoin, a project that focuses on the digital verification of humans. Users in the Worldcoin ecosystem get verified through a device called the “Orb.” Since launching last year, the project, co-founded by Open AI’s CEO Sam Altman, has drawn criticism, with many, including Ethereum’s co-founder Vitalik Buterin, raising privacy and legal concerns.
Authorities in different countries have investigated the project as they believe its data collection method may have breached certain privacy laws. NewsBTC also recently reported that Worldcoin faces a potential fine of .2 million in Argentina for violating the country’s National Consumer Protection Law.
Despite the regulatory scrutiny, the team is still looking to expand. In the blog post, they hinted that the proceeds from this token sale will be directed towards meeting the “increasing demand for orb-verified World IDs around the world.”
At the time of writing, Worldcoin is trading at around .4, down over 6% in the last 24 hours, according to data from CoinMarketCap.
Shiba Inu Team Fixes Shibarium Outage As SHIB Readies For Potential Surge
In a recent update, Shiba Inu developer Kaal Dhairya (@kaaldhairya), confirmed that a temporary outage affecting the Shibarium network has been resolved. The outage, triggered by networking issues among validators, briefly disrupted services within the Shiba Inu ecosystem, specifically the layer-2 blockchain solution, Shibarium.
Kaal detailed the cause and the subsequent resolution of the problem, stating, “There was a temporary Shibarium outage caused because of networking issues amongst the validators. Network is back up and running now.” He also noted that while the primary network functionality has been restored, some ancillary services such as Shibariumscan or external Remote Procedure Calls (RPCs) may continue to face disruptions until additional remedial steps are completed.
Kaal emphasized the importance of collaboration among infrastructure teams to enhance communication and streamline operations. He urged external teams working on infrastructure-level elements such as RPC to coordinate closely with the Shibarium team. “If you’re an external team working on infrastructure level for Shibarium (e.g., RPC, etc.), please reach out so that we can streamline comms with you over shared telegram / slack channels,” he said.
There was a temporary shibarium outage caused because of networking issues amongst the validators. Network is back up and running now, some services like shibariumscan or external RPCs can still remain down until the steps provided are implemented. If you’re an external team…
— Kaal (@kaaldhairya) April 22, 2024
Shiba Inu Price Unfaced
The recent price movements of Shiba Inu (SHIB) show no impact of the Shibarium outage. The four-hour chart for SHIB/USD illustrates a symmetrical triangle pattern that has governed the asset’s movement over the past several weeks.
Contrary to a direct bullish sentiment, the price initially broke to the downside of the triangle on April 12, which typically signals a looming downtrend. However, in a swift change of fortunes, SHIB found substantial support at the 100-day EMA and is now testing the extended lower trendline of the once-confining triangle.
At present, the price has surpassed the crucial resistance-turned-support level marked by the 0.236 Fibonacci retracement level at .00002472. Notably, SHIB is also trading above all EMA’s in the 4-hour chart. The 200 EMA (blue line) is currently serving as crucial support after the first attempt to break above the extended trendline (black) failed.
A decisive and sustained break above this level could invalidate the prior bearish breakout, positioning SHIB for a potential bullish move to the north. However, volume activity on the chart indicates a tempered trading environment, lacking the aggressive spikes typically associated with decisive breakouts.
This could suggest that the market is in a state of contemplation, with traders awaiting further confirmation before committing to a clear directional bias. Lastly, the RSI sits at a reading of 67, which is just shy of the overbought threshold. This placement implies that there is room for upward movement before the market becomes overextended.
If SHIB battles above the extended lower trendline, the case for an imminent surge grows stronger, potentially leading to a rally towards the Fibonacci levels of 0.382 (.00002867), 0.5 (.00003203) and 0.618 (.00003527).
Filecoin Staking Protocol Core Team Detained by Chinese Police; $22 Million in FIL Tokens Sent to Unknown Address
STFIL, the Filecoin liquid staking protocol, believes its core technical team is being investigated by the Chinese police. The STFIL team said it also recently detected abnormal and unscheduled upgrades to the protocol. During the core technical team’s detention, FIL tokens worth over million were transferred to an unknown external address. Lawyers Engaged to […]
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Shiba Inu May Rise 250% Pre-Bitcoin Halving, Predicts SHIB Team
In a bold forecast that is stirring considerable attention within the SHIB community, a prominent official from the Shiba Inu ecosystem has projected a staggering 250% surge in the token’s value leading up to the upcoming Bitcoin halving. Lucie, the marketing lead for Shiba Inu, expressed her confidence in a significant rebound for SHIB, predicting that the meme coin could surpass its 2021 all-time high (ATH) in the weeks ahead.
This optimistic outlook comes despite the token’s recent 43% decline to .000026 from its recent yearly high at .000045. Lucie shared her personal investment move on X, revealing her purchase of SHIB during the recent dip at around .000024, amounting to 9.08.
She dubbed this strategy “Bought the DIP, my lovely SHIB,” showcasing her belief in a strong move for the meme coin. With SHIB currently trading at .000026, a 70% decrease from its ATH of .00008845, the crypto must experience a swift and significant rally of 250% to achieve its previous peak.
This ambitious target is set against the backdrop of the upcoming Bitcoin halving, expected to occur in 22 to 31 days based on various estimates. “Bought the DIP. My lovely $SHIB. If someone can pull [a] miracle recovery, it’s SHIB. I’m expecting ATH soon before or shortly after BTC halving. Nfa,” Lucie remarked.
Bought the DIP
My lovely $SHIB
If someone can pull miracle recovery it’s $SHIB
I’m expecting ATH soon before or shortly after BTC halving nfa pic.twitter.com/lOXoHgHWUl
— 𝐋𝐔𝐂𝐈𝐄 | SHIB.IO
(@LucieSHIB) March 20, 2024
Shiba Inu Set To Overtake Dogecoin?
Lucie’s confidence may be mirrored in another daring prediction by the Shiba Inu team on X, where they assert SHIB’s potential to eclipse Dogecoin in market capitalization through strategic moves referred to as “Secret Wags.”
Reacting to CryptoCom’s classification of SHIB as the second most valuable meme-inspired project, the Shiba Inu team hinted at a future where SHIB dethrones DOGE, stating, “[Number] 2 today, but the Doge days are numbered.”
The competition between SHIB and DOGE is not new; both tokens have vied for dominance in the past. DOGE currently holds the #10 spot in market cap among all cryptocurrencies, with SHIB trailing closely at #11. The market cap gap between DOGE and SHIB stands at .14 billion, with DOGE boasting a market cap of .41 billion compared to SHIB’s .27 billion.
To reach a new all-time high against its competitor, DOGE, SHIB would need to rally another 50% (SHIB/DOGE), building on the 98% gain against DOGE over the last four weeks.
Despite previous attempts to surpass Dogecoin, the Shiba Inu team remains undeterred, buoyed by the growing utility of the Shiba Inu ecosystem beyond its meme coin origins. The development of Shibarium, a blockchain platform offering various utilities for crypto development, and the rallying support of the #ShibaArmy, underline the team’s determination.
“We’ve got the #ShibaArmy, #Shibarium, and secret wags we can’t reveal yet. Get ready for a new top doggo. Much wows incoming! #SHIB,” the team enthusiastically stated.
#2 today, but the Doge days are numbered. We've got the #ShibaArmy #Shibarium and secret wags we can't reveal yet. Get ready for a new top doggo. Much wows incoming! #SHIB https://t.co/GiCJ2OKCLv
— Shib (@Shibtoken) March 20, 2024
At press time, SHIB traded at .00002566.
Bitfrost and Stacks Foundation Team up to Enhance Bitcoin Utility
In a recent development, the Bitfrost Foundation has allied with the Stacks Foundation to explore new opportunities within the Bitcoin ecosystem. This partnership is dedicated to harnessing Bitcoin’s potential by introducing innovative use cases and improving interoperability with assets and protocols based on Bitcoin. Bitfrost and Stacks Foundation Partner to Expand Bitcoin Ecosystem On Thursday, […]
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