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Messages - Coinpedia Fintech News

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1
Hey there! Just wanted to share some interesting news with you. The SEC recently charged Binance and Coinbase for violating US rules and regulations, and they also classified a few tokens as securities.

Since then, these tokens have been on a bit of a downward trend. Robinhood, which is a major trading platform, decided to remove Cardano (ADA), Solana (SOL), and Polygon (MATIC) from its listings because the SEC categorized them as securities.

As a result, the prices of these three tokens have dropped quite a bit, with losses of around 22.23%, 21.89%, and 22.86% respectively.

They're currently among the top losers for the day.

Get the detailed analysis on Coinpedia

2
Bitcoin faces a crucial juncture as it hovers above the 200-week moving average, defying bearish sentiment. The cryptocurrency is now on the verge of a significant breakout, with experts speculating on the possibility of a 60% surge, propelling it to $40,000 by July.

For a detailed analysis and further insights, delve into Coinpedia's analysis.









3
Bitcoin Forum / Bitcoin Price Struggling Hard at $26,000
« on: June 08, 2023, 11:56:05 AM »
The crypto markets are experiencing a slight recovery after a bearish period. Bitcoin, which dipped to $25,300, has rebounded above $26,700. However, it faces resistance at $27,000, and the bulls seem to lack the strength to push the price above $26,500. Despite the slight increase, there are concerns that the price could drop below $25,000 as predicted by many.

Amidst ongoing price fluctuations, Bitcoin (BTC) remains within a wedge pattern and is currently positioned above a significant trendline on the daily timeframe. Sustaining above this trendline may lead to a breakout from the wedge, potentially triggering a 20% to 25% upward movement. Conversely, a rejection could result in a drop towards $21,500.

4
Binance, a major cryptocurrency exchange, has made a surprising disclosure, revealing that SEC Chair Gary Gensler allegedly offered to serve as an "informal advisor" to the company.

According to Binance's legal team, it was Gensler who approached the exchange's founder, raising concerns about their prior relationship and suggesting that Gensler should recuse himself from the ongoing legal proceedings.

For more details on this, continue reading on Coinpedia for further information.
















5
Following weeks of stability around $27,000, Bitcoin's price recently encountered a surge in bearish sentiment, leading to a liquidation of over $111 million within a 24-hour period. This negative sentiment spread across the entire cryptocurrency market after the United States Securities and Exchange Commission (SEC) filed a lawsuit against Binance, the top cryptocurrency exchange in terms of daily trading volume. The SEC's allegations revolve around Binance's violation of US securities laws by listing unregistered security assets like Cardano (ADA), Polygon (MATIC), and SAND, among others.

However, from a technical analysis perspective, the recent dip in Bitcoin's price was not entirely unexpected when examining higher time frames. Prior to the dip, Bitcoin had already exhibited several indicators signalling an imminent drop. Nevertheless, there is a lack of significant fundamental factors supporting the bears in their downward trend. Notably, well-known market trader Jason Pizzino believes that the entire altcoin industry will continue to experience losses despite the decline in Bitcoin's dominance from its recent highs of around 48 percent.



6
The SEC's lawsuit against Binance has resulted in over $115 billion worth of digital tokens being classified as unregistered securities, subjecting them to stringent investor protection regulations.

This may create trading difficulties if exchanges are reluctant to list these coins due to potential SEC consequences. Explore the implications of this significant development.

Read more on Coinpedia understand the implications of this development.

7
Binance, one of the largest crypto exchanges out there. In mid-May, they hit a major roadblock when their payment partner in Australia abruptly ended their collaboration.

Can you imagine the chaos it caused?

Local customers were left in a frenzy, unable to deposit Australian dollars through bank transfers. It gets even more intense! Binance had to take further action, suspending all trading pairs involving the Australian dollar and even halting withdrawals in the local currency.

As if that wasn't enough, juicy rumours have started circulating about a potential new CEO for Binance.

8
An analysis conducted by ZachXBT, an on-chain detective, has revealed a severe cybersecurity vulnerability in Atomic Wallet. This vulnerability has led to the theft of over $35 million in digital assets since June 2.

The discovery of this breach sheds light on the concerning scale of crypto thefts, as the five largest thefts alone account for approximately $17 million, nearly half of the total amount stolen.

To obtain more details about the cause of this security breach and its potential impact on crypto portfolios, it is recommended to read the comprehensive coverage available on Coinpedia.

9
XRP - Ripple Forum / XRP Surpasses Bitcoin: A Remarkable 30% Lead!
« on: June 03, 2023, 01:22:40 PM »
Ripple's XRP has been gaining significant momentum in the ever-evolving world of digital currencies, surpassing Bitcoin in terms of its growth trajectory. Despite a challenging market downturn, XRP has showcased remarkable resilience, outperforming its counterparts with an impressive surge of nearly 30% against the pioneering cryptocurrency. While Bitcoin has faced a decline, XRP has managed to hold its ground and even strengthen its position. This exceptional performance positions XRP as a frontrunner for an unprecedented rally, highlighting its unwavering ability to withstand adverse market conditions.

The bullish trend of XRP has been underscored by Dark Defender, a highly regarded crypto analyst with extensive expertise. A noteworthy achievement for XRP is its successful navigation through two significant resistance points when compared to Bitcoin. This accomplishment not only solidifies XRP's current stature but also creates a fertile ground for a potentially transformative rally that could reshape the digital currency landscape.

10
The cryptocurrency market witnessed a significant shift in May 2023 as centralised exchanges experienced a remarkable decline in trading volume. Data from The Block reveals that volume reached its lowest point since October 2020, plummeting by a staggering 27%, or $440 billion, compared to the previous month.

What is the reason? How will this impact you, the investor? We have covered it all. Read on at Coinpedia for all the details!


11
The crypto market cap made a solid move on Friday, climbing 1.4 percent and reaching a whopping $1.19 trillion. And you know who led the pack?

Bitcoin and Ethereum!

These two big players gained around 2 percent each, with Bitcoin trading at approximately $27,182 and Ethereum at $1,894 in the early Asian market. But here's the interesting part: this sudden surge in the crypto market happened right when the United States Dollar Index took a major dip in the last 24 hours.

It's as if the stars aligned for crypto enthusiasts! Read the full story on Coinpedia on how the US Dollar Index suddenly reversed on Thursday after being on a rising trajectory in recent days.

12
In a recent development, Lawyer Kylie Chiseul Kim has been granted permission to withdraw as counsel for Ripple Labs. This decision by the Southern District Court of New York has raised concerns about Ripple's defense strategy in the ongoing lawsuit filed by the U.S. Securities and Exchange Commission (SEC).

The withdrawal of Kim's motion has potentially significant implications for Ripple's legal position. To get all the insights on the lawsuit and the latest developments, read the full story on CoinPedia.

13
XRP - Ripple Forum / Will XRP Price Hit $2 Anytime Soon?
« on: June 01, 2023, 10:29:49 AM »
The XRP market has experienced significant growth and development, largely influenced by the ongoing SEC vs. Ripple lawsuit in the United States. Ripple's CEO, Brad Garlinghouse, revealed that the company has allocated a substantial $200 million to fight the SEC over the past two years. Despite these legal challenges, Ripple's products, including On-Demand Liquidity and RippleNet, have gained widespread adoption globally, expanding the demand for XRP beyond the United States.

Additionally, Ripple Labs has committed nearly $1 billion for strategic acquisitions, highlighting their dedication to expanding their presence in the industry. However, a different perspective on XRP's future is offered by Deaton. For a comprehensive understanding, delve into the full story to gain valuable insights.







14
Amid the approaching presidential elections, the importance of the crypto market narrative intensifies. The current regulatory framework for cryptocurrencies in the US has faced criticism, fueling anticipation for a new presidential candidate and government that can provide a stronger and more comprehensive framework.

In the midst of this election buzz and the ongoing crypto debate, an intriguing development surfaces as Binance CEO CZ voices support for Ron DeSantis, a pro-crypto candidate, in the presidential race.

Explore the full story for further insights on Coinpedia.





15
In a recent strategy session, veteran trader Tone Vays offered valuable insights on Bitcoin's current market conditions and its potential for a price surge. With his extensive industry experience, Vays highlighted crucial factors to monitor in Bitcoin's path towards an upward trend in his recent video.

Vays emphasised the importance of Bitcoin surpassing its immediate resistance levels. Although he acknowledged the absence of bullishness from a weekly perspective, he emphasised the need for Bitcoin to break through these resistance levels to indicate stronger market momentum and a potential rally.

Moreover, Vays highlighted a catalyst that could potentially serve as a turning point in the Bitcoin price chart, leading to a significant increase and potentially marking a new yearly high. Read the full article on Coinpedia.




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