Prosecutors have proposed a prison term of five to seven years for Ryan Salame, a former executive at FTX, ahead of his sentencing scheduled for May 28, 2024. This recommendation contrasts sharply with Salame’s legal team’s plea for a more lenient punishment of no more than 18 months. Clash Over Sentencing: Prosecutors Demand 5-7 Years […]
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Central Bank of Brazil Aims to Finalize Crypto Regulations This Year
The Central Bank of Brazil outlined its crypto regulation calendar, defining a three-phase process for finalizing these tasks in 2024. The bank aims to consult market actors regarding VASPs, establish plans to regulate stablecoins and finalize the rules to welcome VASPs into the country later this year. Central Bank of Brazil to Finalize VASPs and […]
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Solana Projected To Reach $500 This Year Despite Market Meltdown, Expert Predicts
Solana (SOL), currently ranked as the fifth largest cryptocurrency with a market capitalization of billion, has experienced a significant decline amid the recent market meltdown affecting the digital asset space.
Over the past 24 hours, SOL has witnessed an 8% drop, reflecting the broader market downturn. Despite this setback, experts believe that if the cryptocurrency maintains support above the 0 price level, it holds notable potential for a strong price recovery in the coming months.
Bullish Price Outlook And Key Support Levels To Watch
After reaching a yearly high of 9 on March 18, SOL’s current trading price is 4. However, according to crypto market experts, SOL still has a promising outlook.
Altcoin Sherpa, a renowned analyst, suggests that if the altcoin market continues to decline, the 0 price level may become an area of significant interest for SOL.
Altcoin Sherpa maintains a bullish sentiment, strongly believing that SOL can potentially exceed 0 this year. Such a surge would represent a significant 300% price increase from current levels, building upon the impressive 426% year-to-date price growth.
It is worth noting that this projection is nearly double SOL’s previous all-time high (ATH) of 9, reached during the last crypto market bull run in November 2021.
In addition to the analyst’s focus on the 0 price mark, other major resistance levels for SOL have been identified. These include 0, 2, and the critical long-term support level at , representing SOL’s uptrend structure over the past six months.
Solana Dominates Blockchain Trading Volume
According to a recent CoinGecko report, Solana has secured its position as the second-largest blockchain by trading volume, commanding a substantial 21.3% market share in March 2024.
The blockchain platform experienced a notable monthly growth of 244.8%, with trading volume surging to .05 billion, a significant increase from .61 billion in February.
Solana’s performance in the first quarter of 2024 was equally significant. It accounted for 14.4% of all decentralized exchange (DEX) trading volume, totaling .31 billion.
This represents a quarter-on-quarter (QoQ) growth of 242.7% compared to the previous quarter’s volume of .18 billion. Despite strong growth, Solana’s market share in the same quarter ranked fourth, trailing behind Binance Smart Chain (BSC).
According to CoinGecko, Solana’s trading volume has been greatly bolstered by several factors. Firstly, the doubling in the price of Solana’s native token, SOL, has attracted increased attention and trading activity on the platform.
Additionally, the network has witnessed large airdrops from projects such as Jito (JTO) and Jupiter (JUP), further fueling trading volume. Moreover, the surge in memecoins on the Solana network has significantly contributed to its trading volume.
Notably, the launch of Book of Memes (BOME) in March proved successful, as it achieved a market capitalization of billion within two days. BOME also secured listings on crypto exchanges like Binance and Bybit, further amplifying trading activity on Solana.
Featured image from Shutterstock, chart from TradingView.com
B2BinPay Celebrates One Year of Partnership With Athletic Club
PRESS RELEASE. B2BinPay, a leading provider of cryptocurrency payment solutions, is thrilled to commemorate the one-year anniversary of its partnership with the Athletic Club. As a proud sponsor for the 2023/2024 La Liga season, B2BinPay has been instrumental in supporting the Athletic Club’s journey, contributing to numerous milestones. This collaboration has significantly enhanced the visibility […]
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SEC Launched Formal Investigation Into Ethereum’s Security Status Over a Year Ago, New Court Filing Shows
A new court filing claims that the U.S. Securities and Exchange Commission (SEC), led by Chair Gary Gensler, initiated a formal investigation into ethereum’s potential classification as a security more than a year ago. SEC Enforcement Division Director Gurbir Grewal approved a formal investigative order in March last year to scrutinize potential securities transactions involving […]
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Shiba Inu Price Prediction: Can Meme Coin Hit $0.001 This Year? Investor Makes Daring Call
The world of cryptocurrencies is abuzz with speculation once again, this time centered around Shiba Inu (SHIB), the Dogecoin-inspired meme coin. Prominent Bitcoin investor Armando Pantoja has thrown down the gauntlet, predicting a price surge for SHIB, potentially reaching .001 by the end of 2025. This ambitious target has reignited discussions about SHIB’s potential and its ability to carve a niche beyond its meme-coin origins.
SHIB’s past is a story of remarkable growth. In 2021, the meme coin defied expectations, experiencing a meteoric rise of over 800,000%. This phenomenal journey minted crypto millionaires and captured the imagination of retail investors. However, unlike established players like Bitcoin and Ethereum, SHIB’s initial value proposition was primarily driven by its meme status and community enthusiasm.
My #crypto price targets for 2024-2025$BTC: 0k-0k$ETH: k-k$XRP: –$SHIB: .001+$DOGE: $SOL: 0-00$AVAX: 0+$ICP: 0+$INJ: 0-0$PRO: –$HBAR: –
— Armando Pantoja (@_TallGuyTycoon) April 24, 2024
However, the tides appear to be shifting. Recognizing the need for more than just viral appeal, the Shiba Inu team has been actively developing its ecosystem. A central initiative in this effort is the upcoming Shibarium hardfork, scheduled for launch on May 2nd. This upgrade aims to introduce Shibarium, a layer-2 scaling solution designed to address scalability concerns and enhance user experience.
Shibarium: A Potential Ethereum Killer?
The potential impact of Shibarium is drawing comparisons to the highly anticipated Ethereum 2.0 upgrade. Ethereum, the world’s second-largest cryptocurrency by market cap, has long grappled with scalability issues, leading to high transaction fees and network congestion.
Ethereum 2.0 promises to address these challenges by transitioning to a proof-of-stake consensus mechanism, offering faster processing times and lower fees. However, its development has faced delays, leaving a gap in the market for user-friendly alternatives.
Shibarium’s success could position SHIB as a more attractive option for developers seeking to build decentralized applications (dApps). By offering faster and cheaper transactions, Shibarium could potentially lure developers away from Ethereum, especially those focused on projects requiring frequent interactions and lower costs. This scenario could mirror the way Ethereum itself disrupted the dominance of Bitcoin in the early days of decentralized finance (DeFi).
1/ SHIBARMY, we are on the brink of a transformative upgrade for Shibarium.
Through an upcoming hard fork expected to go live on May 2nd, we’re introducing a suite of new features designed to enhance user experience and empower our community of innovators and developers.
— Shib (@Shibtoken) April 25, 2024
A Major Obstacle
Despite the optimism surrounding Shibarium, reaching .001 by 2025 remains a significant hurdle. The cryptocurrency market is inherently volatile, and unforeseen events can drastically impact prices. Widespread adoption of Shibarium is crucial for long-term growth, and its success hinges on attracting developers and users to build a robust ecosystem.
As of the time of publication, Shiba Inu is trading at .00002459, indicating a decrease of 9% over the previous day. For Shiba Inu to potentially reach a price higher than .001 this year, it needs to increase by nearly 4,000%.
Meanwhile, some analysts remain cautious. While acknowledging SHIB’s past gains, they point to the dominance of established cryptocurrencies like Ethereum and the overall market conditions. Platforms like Telegaon offer a more conservative outlook, predicting a maximum price of .0000728 for SHIB by 2025, falling short of its all-time high.
Featured image from Pixabay, chart from TradingView
Ripple CEO Expects Crypto Market Cap to Double This Year — ‘I’m Very Optimistic’
Ripple CEO Brad Garlinghouse says he is “very optimistic” about the crypto market, predicting it could double its market cap this year. The executive explained that the macro trends, such as the spot bitcoin exchange-traded funds (ETFs), are driving “real institutional money” into the crypto space for the first time. Ripple’s CEO: Macro Factors Fuel […]
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Breakout Of The Year? Crypto Analyst Predicts Where NEAR Is Headed Next
The price of Near Protocol’s native token, NEAR, has been on an upward momentum recently, with a crypto analyst projecting further price increases and suggesting that the coin could see a surge to more than soon.
Near Protocol Price Poised For Surge
Popular crypto trader and analyst, identified as Bluntz on X (formerly Twitter) has unveiled a major price prediction for NEAR. The analyst disclosed that the price of NEAR is exhibiting historical patterns indicative of a bullish rally, potentially surpassing .
$near turbo sends here imo pic.twitter.com/4o28UEsfE1
— Bluntz (@Bluntz_Capital) April 3, 2024
Bluntz, a pseudonymous analyst known for his eerily accurate prediction of Bitcoin (BTC) in June 2018, forecasted that the price of BTC would hit a bottom out at ,200 after reaching an all-time high of ,000 at the time. True to his foresight, Bitcoin dropped to around the projected price target by December of the same year.
Now, using technical analysis based on the Elliott Wave principle, Bluntz has shared a price chart displaying Near protocol’s potential rally to over .
The Elliott Wave theory, developed by Ralph Nelson Elliott is a technical methodology that analyzes recurrent and long-term price patterns related to persistent changes in investor sentiment and psychology. This technical tool is used to predict the price movements of cryptocurrencies based on greed and fear.
Bluntz provided two charts depicting Near Protocol’s price movements against Tether (USDT) and another against Bitcoin.
In both charts, Near Protocol had undergone a sequence of price fluctuations, moving between green and red zones before exhibiting strong price fundamentals that could potentially propel its price above . The crypto analyst has pinpointed a projected timeline for this price surge around mid April, specifically before the 15th.
Insights Into NEAR’s Recent Price Movements
Over the past month, the price of Near Protocol has been on a steady upward trend, boasting an impressive 26% increase. Moreover, the cryptocurrency’s total market capitalization has risen by over 6%, accompanied by a 25% increase in its 24-hour trading volume.
At the time of writing, Near Protocol is trading at .09, reflecting a significant increase of 5.89% in just one day, according to CoinMarketCap. These developments highlight the increasing appeal and demand for the popular token within the dynamic crypto space.
Illia Polosukhin, co-founder of Near Protocol has also commended the NEAR team’s consistent efforts in maintaining the cryptocurrency’s steady growth and development over the past few months. Polosukhin noted that due to the team’s dedication, Near Protocol’s capacity has surged by 50%, ensuring a more effective network to serve users.
Featured image from Pexels, chart from TradingView
Bernstein Analysts Says Bitcoin Will Reach A New ATH By Year End, Here’s The Target
Analysts at financial services firm Bernstein are increasing their price expectations for Bitcoin. This follows a revised report in which they boosted their year-end target for the flagship crypto token’s price.
Bitcoin To Hit ,000 By The End Of 2024
According to a report by CoinDesk, Bernstein analysts Gautam Chhugani and Mahika Sapra have raised their year-end prediction for Bitcoin’s price from ,000 to ,000. Their research report cited the strong Spot Bitcoin ETF inflow and a record mining income as the reasons for this increased bullishness on BTC’s price.
Since launching, the Spot Bitcoin ETFs have recorded an impressive amount of inflows into their funds and have significantly contributed to an increase in BTC’s price. As such, it is understandable why these analysts believe they could still positively impact Bitcoin’s price in the long run.
Despite miners’ rewards being cut in half during the Halving event in mid-April, these Bernstein analysts also foresee a record mining income for BTC miners. They believe this would have a positive impact on BTC’s price. Bitcoinist recently reported that Bitcoin Halving could force some miners out of business, paving the way for the remaining miners to enjoy increased revenue.
Meanwhile, Chhugani and Sapra also recently reaffirmed their prediction that Bitcoin will hit 0,000 by mid-2025. They believe that the Spot Bitcoin ETFs will be one of many factors contributing to this massive price surge.
BTC Could Even Hit 0,000 This Year
Standard Chartered is another financial institution that revised its year-end target for Bitcoin’s price. As against their initial prediction of 0,000, they recently stated that Bitcoin could rise to 0,000 by the end of this year. Like Bernstein, Standard Chartered also alluded to the influence of the Bitcoin ETFs as the primary reason for their bullishness on Bitcoin.
The bank noted in the research report that these investment funds provide a more robust and sustainable positioning for Bitcoin, unlike when the crypto token hit new highs solely based on speculations. Standard Chartered also predicts that BTC could rise to 0,000 by the end of 2025.
Interstingly, they added that an “overshoot to 0,000 is likely at some point in 2025 if ETF inflows continue apace and reserve managers buy BTC.” These predictions, however, look conservative when one considers Samson Mow’s prediction that BTC could hit million this year.
At the time of writing, Bitcoin is trading at around ,200, down over 1% in the last 24 hours, according to data from CoinMarketCap.
Standard Chartered Raises Bitcoin Target: BTC Could Hit $150K This Year, $250K Next Year
Standard Chartered has raised its bitcoin forecast, predicting that the cryptocurrency’s price could reach 0,000 next year and 0,000 this year. The bank also adjusted its ether forecast as it anticipates the approval of a spot ether exchange-traded fund (ETF) by the U.S. Securities and Exchange Commission (SEC) in May. Standard Chartered’s Revised Bitcoin Price […]
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