Over the weekend, XRP experienced a minor setback, decreasing by 1.36% on Saturday and closing the session at $0.6219.
This dip reversed the gains from Friday, highlighting the volatile nature of cryptocurrency markets.
The decline occurred amidst a backdrop devoid of new developments from the ongoing SEC vs. Ripple litigation, instead reflecting market reactions to a significant court decision involving Coinbase.
On Wednesday, a partial victory was recorded for Coinbase in its Motion to Dismiss (MTD) against a lawsuit, but the celebration was muted as the court’s decision also hinted at challenges for Coinbase, Ripple, XRP, and the broader cryptocurrency sector.
The dismissal pertained only to certain allegations, leaving intact serious charges of securities law violations.
Legal analysts had speculated that a complete win for Coinbase might have prompted the SEC to reconsider its stance against Ripple.
Stuart Alderoty, Ripple’s Chief Legal Officer, took to X (previously known as Twitter) to comment on the implications of the recent court ruling, criticizing the SEC’s approach and expressing skepticism about their evidence.
Alderoty’s statements underscore the ongoing tension and the critical eye Ripple maintains towards the SEC’s legal maneuvers.
READ MORE: BNB’s Rally Narrows Gap with Ether Amid Mixed Market Signals and ETF Outflows
The court’s ruling, articulated by Judge Katherine Failla, underscored the allegations against Coinbase for operating as an unregistered securities intermediary.
This decision not only affects Coinbase but also casts a shadow over the cryptocurrency industry at large, especially as it involves 13 cryptocurrencies accused of being offered and sold as investment contracts.
In a broader context, the legal landscape for cryptocurrencies in the United States is becoming increasingly complex.
Recent judgments, including one against Terraform Labs, have started to shape a regulatory environment that could extend SEC oversight across the digital asset domain.
These developments are pivotal, potentially influencing the future of Ripple and XRP, among others.
XRP’s market position, in the meantime, remains resilient.
Despite short-term fluctuations, indicators like the 50-day and 200-day Exponential Moving Averages (EMAs) suggest a bullish trend.
Technical analysis points to possible resistance and support levels, with a notable emphasis on the potential for XRP to challenge higher price points, should it overcome immediate barriers.
As the cryptocurrency community watches the unfolding legal battles, the SEC’s aggressive posture towards the sector demands investor vigilance.
The outcomes of these cases, including the one involving Coinbase, could significantly impact market dynamics and regulatory approaches in the U.S. digital asset space.
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Ethereum (ETH) is on the cusp of potentially climbing higher, drawing attention from breakout traders.
However, the journey upward isn’t straightforward, as market dynamics often see an initial move in the opposite direction to gather liquidity.
This necessitates patience among ETH enthusiasts eager for gains.
The price of Ethereum has recently carved out a trading range, plummeting 25% from $3,054 to $4,095 between March 11th and 20th.
Presently, ETH has surged past the mid-point of this range, stationed at $3,574, signaling a promising, albeit volatile, ascent.
This abrupt price movement, while tempting for traders, warrants caution.
The cryptocurrency market is notorious for its swift reversals following initial breakouts, aimed at amassing liquidity beneath critical thresholds.
READ MORE: BNB’s Rally Narrows Gap with Ether Amid Mixed Market Signals and ETF Outflows
Since hitting its range low on March 20th, ETH has been marking progressively higher highs, suggesting the possibility of a retracement following a breakout above $3,574 and $3,658.
A dip to $3,461 may offer a strategic entry point for long positions, especially if Bitcoin (BTC) completes its liquidity accumulation phase.
Under these conditions, ETH could surge, surpassing the $3,658 barrier and potentially retesting the significant $4,000 level.
A further push could see it reaching $4,095, especially under strong selling pressure.
Conversely, should Bitcoin falter in its recovery post-liquidity collection, it could drag altcoins, including Ethereum, downward.
A drop to Ethereum’s range bottom at $3,054 and a subsequent shift of this level to resistance could negate the optimistic outlook for ETH, hinting at a continuation of the downward trend.
Such a scenario might precipitate a near 2% fall in Ethereum’s price, potentially bringing it down to the psychologically important $3,000 mark.
This forecast underscores the nuanced and speculative nature of cryptocurrency trading, emphasizing the need for caution and strategic patience among investors.
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In a recent post on X, previously known as Twitter, a crypto analyst going by the moniker Altcoin Sherpa delivered an optimistic forecast for several cryptocurrencies, pinpointing Dogecoin (DOGE/USD), Bitcoin (BTC/USD), and Fetch.ai (FET) as key players to watch.
Last Thursday, Altcoin Sherpa projected a remarkable growth for Dogecoin, predicting its value could soar by over 200% from its current figure, citing its long-standing appeal and the potential for substantial gains in the near future.
“DOGE: this is still a great long-term investment to be honest. And by long term, I mean like six months-plus.
“It’s going to do something insane this cycle and still should be at least a 3x-plus from here (possibly more).
“It accumulated for 700 days, still is the banner meme for all of crypto, and is very ‘safe’ given the market cap/liquidity/etc,” Altcoin Sherpa shared.
On the topic of Bitcoin, Altcoin Sherpa conveyed a bullish stance, suggesting the digital currency is undergoing a consolidation phase which is likely to precede an upward movement.
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“BTC: price has consolidated here for about one month.
“Overall, this is bullish and I don’t think we go lower than that range low at $60,000 (in the short term).
“Expecting a bit more chop and then we do the next leg up.
“No reason to be bearish at all in my opinion,” they stated, reinforcing a positive outlook on Bitcoin’s immediate future.
Furthermore, Altcoin Sherpa expressed a positive view on Fetch.ai, an artificial intelligence-focused cryptocurrency, advising traders to buy on dips, reflecting a strong belief in its future success.
At the moment of this report, Dogecoin showed significant market activity with a nearly 20% increase in the last seven days, trading at $0.2063.
Similarly, Bitcoin’s value rose by 8% within the same timeframe, marking its price at $70,294.65.
These movements highlight the volatile yet promising nature of the cryptocurrency market, as underscored by Altcoin Sherpa’s analysis.
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The crypto industry is growing and enriched with new trading tools. To succeed in this dynamic market, traders should understand the fundamentals of trading and identify the most suitable instruments for their needs. One such tool that has gained significant popularity among many crypto enthusiasts is Futures. Explore the trading world and learn how to earn real profits from crypto Futures.
What are Crypto Futures?
Crypto futures are financial derivatives that allow traders to speculate on the crypto price movements. Unlike spot trading, where assets are bought and sold for immediate delivery, Futures contracts enable the trade of an asset at a predetermined price on a specified future date. The principle of working with them is to choose the long or short Futures position and form a correct betting strategy. Analysts and professionals who can predict price movements well can earn millions on trading. So, the first step to success is to choose the most suitable tool and understand its essential aspects.
Where to Trade Crypto Futures?
Over time, many platforms are expanding their crypto ecosystems and introducing Futures trading. If you are looking for a unique experience and exclusive benefits, consider the following projects.
- BetFury: the platform offers many trading opportunities with low fees and up to x1000 multiplier. Moreover, BetFury gives up to a 60% discount on Futures commission for all holders of BFG (the platform’s native token).
- RollBit: the platform is known for its user-friendly interface and comprehensive range of Futures products. Another plus is that RollBit offers over 20 currencies for trading.
- BCGame: the platform has expanded its crypto ecosystem to include a trading game. It has low leverage but is convenient for novice traders.
- SolCasino: the platform offers users 18 currencies for trading with high multipliers. SolCasino Futures has an attractive interface and pleasant customer service.
How to Earn Real Crypto Trading Futures?
There is no one-size-fits-all method for success in this dynamic market. However, you can consider some key principles to decrease the level of risk.
- Do Your Research: the ideal strategy is your own strategy. Each responsible user should independently analyze the market, be in search, and choose the most profitable approaches. Thus, catch waves of relevance and conduct your own crypto research.
- Use the Right Leverages: earnings from Futures directly depend on the chosen leverage. The bigger the leverage, the higher the income. For example, BetFury Futures offers a multiplier of up to x1000. Suppose a user places $10 with 1x leverage and closes the position with a P&L +$1. If, in this case, the user places $10 with 1000x leverage, his profit will be $1,000.
- Use a Variety of Indicators: when trading Futures, it is essential to use all tools provided by the platform for convenience and speed. Knowing how to use indicators to trade futures is an admirable skill for crypto earning.
- Apply Additional Trading Tools: classic Futures are formed based on exchange rates from official exchanges. However, specific tools work a bit differently. For example, FuryWaves by BetFury generates price movements using a randomizer. It simulates a trading experience with an entertaining method and helps users master more difficult instruments.
- Practice Risk Management: implement techniques to protect your capital and minimize losses. Pay attention to stop-loss orders to limit potential losses and use the correct position size for effective risk management.
- Develop a Futures Trading Strategy: even if one strategy consistently generates income, you don’t need to stick to it. It’s worth looking for new approaches that will bring even more cryptocurrency.
- Choose a Reputable Platform: trade Futures on reliable platforms with security audits, long-term and reachable plans, a supportive community, and strong partners. As a sample, BetFury has over 2M users, CertiK audit, and leading partners like BNBChain. Such aspects build trust and knowledge that any tools of this platform have a transparent and fair system.
- Be Patient: take your time to earn as much crypto as possible at once. Creating perfect strategies takes a lot of time. By exercising patience, you can thoroughly analyze market trends, identify optimal entry and exit points, and adjust your strategies.
Conclusion
Trading crypto Futures offers enthusiasts a lucrative opportunity to earn by predicting price changes. You can capitalize on this for substantial financial gain with a deep understanding and the right approach. Therefore, choose the most profitable Futures tool and adhere to all tips to get real crypto.
The recent activity surrounding Shiba Inu (SHIB) provides a fascinating insight into the dynamics of the cryptocurrency market, especially in relation to meme coins.
The sale of 533.6 billion SHIB tokens by a single entity across 11 wallets, resulting in a significant profit and a notable impact on the market, highlights several key points about investor behavior, market sentiment, and the volatility inherent in the cryptocurrency space.
Market Volatility and Meme Coins
Meme coins like SHIB are known for their volatility, often driven by social media, influencer endorsements, and speculative trading rather than underlying fundamentals.
The ability of a single entity to affect market sentiment significantly by offloading a massive amount of tokens underscores this volatility.
This event not only demonstrates the impact that large transactions can have on the price and perception of meme coins but also the rapid gains that can be realized in this highly speculative market segment.
Investor Behavior and Market Sentiment
The reaction of the SHIB community and the broader cryptocurrency market to this transaction reflects ongoing concerns about the influence of “whales” (entities holding large amounts of a cryptocurrency) on market dynamics.
The fact that the community is closely watching the whale’s next moves indicates a high level of speculation and the potential for rapid shifts in market sentiment based on the actions of a few individuals or entities.
Strategic Considerations for Investors
This episode serves as a reminder of the need for vigilance and informed decision-making in the cryptocurrency market.
Investors must navigate the challenges presented by market volatility, the influence of whales, and the speculative nature of certain market segments.
The decrease in SHIB’s trading volume and open interest following the sell-off suggests a broader impact on trader enthusiasm and strategy, emphasizing the importance of staying informed and prepared for rapid market changes.
Future Implications
The future actions of the whale, especially regarding the reinvestment of the acquired DAI, will be of particular interest to the market.
These actions could signal new trends, influence market sentiment, and potentially impact the valuation of other cryptocurrencies.
As the cryptocurrency market continues to evolve, the behavior of significant market players will remain a critical focus for both investors and analysts.
In conclusion, the recent developments with Shiba Inu highlight the complexities of the cryptocurrency market, characterized by rapid changes, speculative trading, and the significant influence of large stakeholders.
As the market continues to mature, understanding these dynamics will be crucial for navigating the opportunities and risks of cryptocurrency investment.
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Bitcoin‘s resurgence to a $70,000 valuation post the March 29 daily close has sparked considerable attention as the cryptocurrency market anticipates the conclusion of an exceptionally bullish first quarter.
According to data from Cointelegraph Markets Pro and TradingView, Bitcoin is now testing the previous all-time highs around $69,000 as potential support levels, moving into the weekend with a promising upward trajectory.
The latter part of the day saw Bitcoin appreciating by about $1,000, buoyed in part by remarks from Jerome Powell, the Chair of the U.S. Federal Reserve, during an interview at the Macroeconomics and Monetary Policy Conference held in San Francisco, California.
Powell’s demeanor towards inflation and the broader economic forecast was notably measured, indicating a deliberate approach to policy adjustments, particularly regarding interest rate cuts, which are pivotal for risk assets.
“Growth is strong right now, the labor market is strong right now and inflation has been coming down,” Powell commented, emphasizing a cautious stance on future decisions.
Market speculations currently favor a June timeline for an anticipated interest rate reduction, with predictions leaning towards a 0.25% cut during the Federal Open Market Committee (FOMC) meeting, based on probabilities from CME Group’s FedWatch Tool.
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Despite March 29 being a non-trading day on Wall Street, the release of the Personal Consumption Expenditures (PCE) Index, a preferred inflation measure by the Fed, aligned with expectations at 2.5%, maintaining a stable outlook on inflation.
As Bitcoin navigates through potential price action barriers, the spotlight remains on the upcoming weekly, monthly, and quarterly candle closes.
Notable cryptocurrency trader and analyst Rekt Capital underscored the importance of the $69,000 level, suggesting that a weekly close above this threshold could set a new record for Bitcoin’s closing price.
“BTC is going to continue whip-sawing and zig-zagging within this Weekly Range until the Weekly Candle Close,” Rekt Capital shared on X (formerly Twitter), highlighting the significance of consolidation outside of these movements.
In addition, Kevin Svenson, another prominent trader, pointed to optimistic on-chain indicators, notably the moving average convergence/divergence (MACD) oscillator on daily charts, which is reportedly primed for an upward cross.
Svenson’s analysis on X suggests that such a development could herald a significant breakout for Bitcoin, potentially surpassing the all-time highs near $74,000, indicating a bullish outlook for the cryptocurrency’s future trajectory.
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In a notable development in the cryptocurrency market, GRAM, recognized as one of the leading growth tokens of 2024, has been officially listed on the MEXC exchange. The crypto community has often likened GRAM to Bitcoin, referring to it as the Bitcoin equivalent for Telegram users. This listing marks a pivotal moment for GRAM, showcasing its popularity and potential within the crypto space.
Key Developments
- Trading Pair Availability: MEXC has introduced the GRAM/USDT trading pair, providing traders with a new opportunity to engage with one of the most sought-after tokens on the TON blockchain.
- Verification and Popularity: Prior to its listing, GRAM became the most popular token on the TON blockchain, and now, it underwent thorough independent verification by a major exchange, a process aimed at ensuring the coin’s demand within the crypto community. The successful listing on MEXC serves as further validation of GRAM’s promising prospects
- Previous Listings and Purchasing Options: Before its debut on MEXC, GRAM was available on several decentralized exchanges including STON.fi, Ton.Diamonds, and DeDust. Additionally, it can be purchased through the P2P section of CryptoBot in Telegram.
Why Invest in GRAM?
1. Strong Technical Foundation: As the premier project on the TON blockchain, developed by Telegram and refined by independent programmers, GRAM benefits from high throughput and scalability. This technical prowess supports its use in various financial transactions and as a store of value.
2. Decentralization and Accessibility: With no single owner, no pre-mining during its launch, and a vibrant community steering its direction, GRAM embodies true decentralization. The token is mineable using regular computers with graphics cards, emphasizing its accessibility and distribution among a wide user base.
3. Promising Growth Outlook: The upcoming Bitcoin halving is expected to catalyze growth across the crypto market, with well-positioned altcoins like GRAM poised to benefit significantly. Since its launch in January 2024, GRAM has already achieved a staggering 28,000x increase in value (from $0.00000107 to $0.03, peaking at $0.044), demonstrating its potential for future gains.
Looking Forward
Following its successful listing on MEXC, the GRAM community anticipates further listings on major exchanges in the near future. According to the GRAM community Telegram group, recently, more than one million GRAMs have been sent to accounts on MEXC and OKX, indicating a high level of activity. This expansion is expected to attract new investors and contribute to the token’s growth trajectory, making now an opportune time to consider adding GRAM to one’s investment portfolio.
The integration of GRAM into MEXC not only underscores the token’s viability and demand but also signals exciting times ahead for investors and the broader TON blockchain ecosystem.
In an engaging post on the X/Twitter platform, Ethereum cofounder Vitalik Buterin brought the Shiba Inu (SHIB) meme cryptocurrency into the spotlight, stirring a flurry of reactions from the SHIB community and various crypto influencers.
The enigmatic SHIB lead, Shytoshi Kusama, joined the conversation by responding to Buterin’s tweet with enthusiasm.
The dialogue was sparked by Buterin’s reflection on a significant moment involving the Shiba Inu cryptocurrency.
He reminisced about when he received a massive amount of SHIB—500 billion coins, precisely half of the meme coin’s total supply—from the project’s anonymous founder, Ryoshi, in 2021.
Buterin revealed his decision to donate a substantial portion of this SHIB to charity, motivated by his expectation that the coin’s value would plummet dramatically.
He aimed to ensure the charities could benefit from the donation, hoping they could cash out between $10 million and $25 million.
However, SHIB’s performance exceeded his expectations, a development that was warmly received by the SHIB community.
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“But of course SHIB massively outperformed my expectations,” he admitted, eliciting a wave of excitement and a bullish hashtag from Kusama in response.
Further stirring the crypto market, a report by the cryptocurrency tracking bot Whale Alert noted a significant withdrawal of SHIB from the KuCoin exchange.
A massive two trillion Shiba Inu coins, valued at approximately $62,232,000, were moved off the platform.
This event was part of a larger trend that saw KuCoin losing around $500 million worth of cryptocurrencies in 24 hours, as covered by U.Today.
The withdrawals began en masse following news that KuCoin and its founders faced criminal charges from the U.S. Department of Justice.
The accusations against them included operating a platform that facilitated illicit money laundering and violating the Bank Secrecy Act.
This case against KuCoin paralleled a similar accusation made against former Binance CEO, CZ.
The charges stemmed from activities between 2020 and 2022, during which the platform also received significant funds from the sanctioned entity Tornado Cash without reporting suspicious transactions.
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In a remarkable turn of events, the Munchables game, an Ethereum-based NFT venture, witnessed the return of $62.8 million in Ether, previously stolen in a security breach, without the demand for a ransom.
This unexpected resolution unfolded over nearly eight hours when a Munchables developer, initially responsible for the exploit, decided to return the pilfered funds.
The breach was reported on March 26, around 9:30 pm UTC, resulting in a loss of over 17,400 ETH from the GameFi application.
Following the incident, Munchables collaborated with blockchain security experts, including PeckShield and ZachXBT, to trace the stolen assets in hopes of recovery.
The investigation revealed that the breach was linked to a developer with North Korean ties, known by the alias “Werewolves0943.”
This individual was hired by the Munchables team, leading to the vulnerability.
By March 27, at 4:40 am UTC, Munchables identified the culprit as one of its developers, and after an hour of negotiations, the individual agreed to return the stolen Ether.
Munchables confirmed in a statement, “The Munchables developer has shared all private keys involved to assist in recovering the user funds.
“Specifically, the key which holds $62,535,441.24 USD, the key which holds 73 WETH, and the owner key which contains the rest of the funds.”
Pacman, the creator of the Ethereum layer-2 blockchain Blast, on which Munchables operates, expressed gratitude towards ZachXBT for aiding in the resolution.
He announced that the ex-developer chose to return the entirety of the funds without a ransom.
Pacman’s involvement is crucial for redistributing the now-retrieved assets to the rightful owners.
Meanwhile, Munchables advises affected users to heed only official communications to avoid potential refund scams.
This incident follows a separate exploit where a hacker extracted around $24,000 from four DeFi aggregator ParaSwap addresses.
ParaSwap, with the help of white hat hackers, managed to reclaim the stolen funds, beginning the process of refunding users.
The protocol has since taken measures to secure its system, particularly addressing vulnerabilities in the AugustusV6 smart contract.
Despite these efforts, 213 out of 386 impacted addresses had not revoked permissions for the compromised contract as of March 25, indicating ongoing risks in the DeFi space.
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Do Kwon, the co-founder of Terraform Labs embroiled in allegations of fraud, has been released from Montenegrin custody.
His freedom comes as the Supreme Court weighs the merits of extradition requests from both the United States and South Korea.
Bloomberg reported his release on March 23, following a suspension by the Supreme Court of a lower court’s decision to extradite Kwon to South Korea.
This legal drama unfolds against the backdrop of the Terra collapse in 2022, which erased about $60 billion from the crypto market. Kwon, facing fraud charges in both South Korea and the U.S., was released from prison as his sentence for possessing forged documents concluded.
Darko Vukcevic, a prison official, stated, “We released Do Kwon from prison as his regular prison term for traveling with fake papers ended.
Since he is a foreign citizen and his documents were withheld, he was taken for an interview to the police directorate for foreigners, and they will deal with him further.”
The Supreme Court’s Council is now poised to decide on Kwon’s potential extradition to South Korea, where he faces less severe penalties compared to the U.S.
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In the latter, he could be charged with eight felonies related to TerraUSD’s dramatic $40-billion implosion in 2022.
Kwon’s legal representative confirmed his client’s release and mentioned that his passport had been confiscated to prevent him from leaving Montenegro.
Subsequently, Kwon was moved to a facility for foreigners, with his lawyer signaling intentions to seek legal permission for Kwon to stay free pending extradition decision.
This legal tangle was further complicated by the chief prosecutor’s intervention, pointing out procedural flaws in the extradition process favoring South Korea.
As courts deliberate without a clear timetable, Kwon’s fate hangs in the balance, with significant charges awaiting him in the U.S. following his arrest in March 2023 for using counterfeit travel documents.
The extradition saga continues, reflecting the international legal complexities surrounding high-profile crypto fugitives like Kwon.
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