FBI DISRUPTS VIRTUAL CURRENCY EXCHANGES ... - cyptoranking.com

2024-05-03

Popular crypto exchanges(2023 Update) 2024-05-03
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Bitcoin Dips Under $28K; Ether ETFs Lack Spark; InQubeta Presale Smashes $3.5M Bitcoin is a digital currency within a decentralized distributed ledger known as a blockchain. To distinguish between Bitcoin and blockchain, look at blockchain as a globally-accessible online spreadsheet that contains all Bitcoin transactions on its cells (blocks). FBI DISRUPTS VIRTUAL CURRENCY EXCHANGES ...And the only comment responding to this rather mad proposal is a picture of an FBI agent working at a laptop with his glock placed just next to his work-from-home station. Turning to crypto, it’s crucial to recognize that short-term Bitcoin (BTC) price action remains somewhat linked to regulatory decisions, particularly those pertaining to a Bitcoin spot ETF. So far, all of the positive news surrounding spot ETFs has failed to move Bitcoin out of its holding pattern. A green light on this front could unleash substantial inflows into BTC, providing the much-awaited impetus for a resurgence. It would also be remiss not to mention the ongoing FTX saga, which is currently playing out in the courts and damaging crypto’s reputation.

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Source / Sam Cooling x PlacidPalacePolygon (MATIC) crypto price has sunk -6% amid broader de-risking in markets, triggered by the conflict between Israel and Hamas - but with MATIC price trading low - is Polygon going to zero?This comes just a week after co-founder Jaynti Kanani revealed he was leaving Polygon ahead of the highly anticipated Polygon 2.0 to explore "new adventures".A major down-shift for Ethereum - which fell below $1,600 yesterday - could be the trigger for the latest drop.MATIC Price Analysis: Can Polygon Recover From -6% Drop?As price action finds relief from localised retracement, MATIC is currently trading at a market price of $0.53 (representing a 24-hour change of +0.34%).The recent -6% slide came as MATIC rejected from consolidation around $0.55 - in a tumultuous tumble that saw price crash down through the 20DMA (which stands at $0.53).TradingView / MATIC USDTWhen MATIC last fell below this moving average support, the 20DMA created a 66-day long period of upside resistance - highlighting the significance of the recent return below the MA.As for the 200DMA - a level untouched by Polygon since April 30 - it remains high above ongoing price action at $0.76.Polygon's indicators surprisingly remain bullish despite the downside move.The RSI has cooled-off during the -6% drop, flipping from bearish divergence to a bullish 45.7 - which reflects the now over-sold sentiment surrounding MATIC.While the MACD maintains minor bullish divergence at 0.0009 - signalling appetite for MATIC at these levels.Overall, Polygon appears weak here, more than a week of consolidation above the 20DMA failed to crack upside resistance at $0.60 - and with price now stuck back below the moving average - further downside seems likely.TradingView / MATIC USDTThis leaves MATIC with an upside target at $0.60 (a possible +13.64%).While downside risk could see MATIC fall to the lower trendline at $0.50 (a possible -5.3%).Polygon's risk: reward ratio therefore stands at 2.57 - a strong entry that suggests Polygon is not going to zero.But while Polygon bag-holders are strapped in for a rocky ride, a new meme coin has emerged with the potential to rival PEPE and SHIB.Meme Kombat (MK): The Next Big Sensation in Meme Coin Space?Source / Meme KombatMeme Kombat (MK) has recently hit the crypto scene and is quickly becoming a sensation, with a fresh and innovative stake-to-mine system, it's gathered an impressive $431,000 in its presale event alone.Powered by AI, Meme Kombat introduces battles between popular meme characters, allowing rival crypto users to wager using its native ERC-20 token, MK.This meme coin is set to redefine the meme coin space, potentially rivalling giants like Pepe and SHIB with its engaging approach and promise of playing on crypto community divisions.Source / Meme KombatWhat Makes Meme Kombat Stands Out?Unique Gaming Mechanism: Beyond simple trading, Meme Kombat offers users an interactive gaming experience. Users can bet on their favorite meme characters in Player vs Player or Player vs Game matchups.Incentivized Staking: Keeping user engagement at the forefront, 30% of MK's total supply is designated for staking rewards, motivating long-term investment and platform interaction.Gaining Rapid Traction: Even before its official launch, the growing interest in Meme Kombat is evident. Their presale has already garnered a notable $310,000, with anticipation building for its listings on major decentralized exchanges like Uniswap.Backed by a Robust Team: Under the leadership of the experienced founder Matt Whiteman, and with an audited smart contract by Coinsult, Meme Kombat guarantees both innovation and security.Promising Roadmap: With plans for platform launch in late Q3 2023, the project promises continuous enhancements. Each new season aims to introduce novel characters and gaming modes, ensuring user engagement remains high.Considering the current traction, innovative gaming approach, and a solid roadmap, Meme Kombat indeed showcases the potential to join the likes of Pepe and SHIB - especially as the GambleFi and GameFi narratives continue to grow.As the meme coin community eagerly awaits its full-fledged launch, the MK presale offers a golden opportunity for early-bird investors.Join the revolution and be part of the next meme coin sensation (stay tuned with the MK Telegram)!Buy Meme Kombat HereDisclaimer: Crypto is a high-risk asset class. This article is provided for informational purposes and does not constitute investment advice. You could lose all of your capital.As Snorlax Token Surges By 500%, This Hidden Crypto Treasure Garnered $850,000 – Ready to Explode? The testimony could offer the most in-depth and potentially damaging revelations about FTX and Alameda’s financial dealings. How to buy USDT in Malaysia?On Oct. 2, the price of Bitcoin (BTC) saw a 5.5% intraday increase to $28,600, but the largest cryptocurrency by market capitalization lost momentum as the highly anticipated launch of Ether (ETH) futures exchange-traded funds (ETFs) failed to generate significant trading volumes. While the recent rally into the upper end of the current price range was likely encouraging to investors, recent comments from United States Federal Reserve representatives reiterated concerns about an impending economic downturn.Bitcoin demonstrated short-term strength by maintaining support at $27,200 on Oct. 3 and subsequently surged above $27,500 on Oct. 5. Nevertheless, three key trading metrics indicate a lackluster level of support. These metrics encompass spot market volumes, derivatives and confidence in the approval of a spot Bitcoin ETF.Macroeconomic forces exert downward pressure on Bitcoin priceOn Oct. 2, U.S. Federal Reserve Vice Chair for Supervision Michael Barr stated in New York that he anticipates a slowdown in economic growth “below its potential” due to higher interest rates constraining economic activity. He also noted that the full impact of the current monetary policy has yet to be realized. According to the CME FedWatch tool, the market is currently evenly divided on the possibility of another interest rate hike by the Fed in 2023.On Oct. 3, the real yield on U.S. 10-year Treasurys, a measure that adjusts for inflation, reached 2.47% — its highest level in nearly 15 years — according to data from the U.S. Treasury Department. This development partly explains the U.S. Dollar Index (DXY) reaching its highest point in 10 months.Additionally, Reuters reported that the U.S. has become a relatively more appealing investment destination due to its “resilient economy,” boasting stronger growth prospects when compared with Europe and China.Bitcoin trading metrics show diminished activity for leverage longsBitcoin monthly futures typically trade at a slight premium to spot markets, indicating that sellers are asking for more money to delay settlement. As a result, BTC futures contracts should typically trade at a 5%–10% annualized premium — a situation known as contango, which is not unique to crypto markets.Bitcoin 2-month futures annualized premium. Source: Laevitas The BTC futures premium continues to trade below the 5% neutral threshold, remaining in the neutral-to-bearish range. This indicates a lack of demand for leveraged long positions.Additionally, spot trading activity on traditional exchanges has declined to levels not seen since late 2020, signifying reduced participation by institutional investors.Bitcoin daily spot trading volume, USD. Source: Messari and Kaiko It’s worth noting that the decrease in trading volumes may be attributed to major U.S.-based trading firms, such as Jane Street Group and Jump Trading, distancing themselves from the cryptocurrency markets ahead of May 2023. Bloomberg reported that the primary reason for this shift was “heightened regulatory scrutiny,” which rendered the market less appealing to institutional investors.Related: Bitcoin price drops its early week gains — Here is whyInvestors’ expectation for a spot BTC ETF drops One of the factors supporting Bitcoin’s 68% gains in 2023 is the anticipation of approval for a spot Bitcoin ETF by the U.S. Securities and Exchange Commission. However, despite the regulator’s multiple postponements, the recent launch of Ether futures-based ETFs on Oct. 2 saw lackluster demand.Furthermore, despite a favorable court ruling for the conversion of the Grayscale Bitcoin Trust into a spot Bitcoin ETF, it continues to trade at a 19% discount compared with its Bitcoin holdings. This data indicates a lack of confidence in the approval of a spot Bitcoin ETF, as investors would have the option to redeem their shares at par value following the conversion.Ultimately, Bitcoin was unable to surpass the $28,500 resistance level, and Federal Reserve representatives warned of impending economic pressures. Consequently, the prospects of breaking above this resistance in the short term appear less than favorable.This article is for general information purposes and is not intended to be and should not be taken as legal or investment advice. The views, thoughts, and opinions expressed here are the author’s alone and do not necessarily reflect or represent the views and opinions of Cointelegraph. Other Updates: Floki is listed on KuCoin, one of the top cryptocurrency exchanges. The listing extends Floki's utility and accessibility to millions of users across 200 countries. Furthermore, Floki's followers on X surpassed the 500,000 mark.

The Gucci Ancora experience in Roblox. Image: Gucci On Sunday, SAGE Labs recorded 2,293,210 transactions, per Flipside. By comparison, the entire Polygon network saw 2,037,330 transactions, according to data from blockchain explorer Polygonscan. Polygon is an Ethereum scaling network. U.S. Is Losing the Global Race on Digital Currency“Bitcoin, like the spiritual leaders who have come before it in the Middle-Eastern desert, is a miraculous gift capable of transforming an oppressed, forgotten people. The Palestinian economy is a multi-billion dollar economy that unfortunately benefits mostly outsiders. But if Bitcoin were adopted as the official currency, Palestinians would be able to shape their own economic destiny and in so doing their sovereign destiny,” Keiser said. The dearth of regulation leads to scams and substandard projects. Sorting through forthcoming ICOs for a quality project might often feel like an attempt to find a needle in a haystack.

“We will continue with our investigation into this matter,” Sorokin wrote. “Please note, however, that in the meantime, our services are running normally, and we will continue to operate in a state of heightened alert.” Payment Currencies What will Ethereum be worth in 2025?Cryptocurrency exchange Coinbase announced the addition of the Polygon (MATIC) network to its multi-chain availability for USDC. Crypto, whether you like it or not, is going to become an industry, and — if it truly proves the widespread utility it has claimed, especially as scaling challenges are met and bad actors are flushed out — might be all the better for it.

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