TL;DR Despite its recent 14% decline to around $7, some analysts think Polkadot (DOT) has a huge potential to rally in the near future. A potential bull run depends on technical advancements and overcoming certain support zones. Is DOT a ‘Sleeping Giant?’ The blockchain protocol – Polkadot – has passed through numerous developments as of late, capturing the eye of many industry participants. Despite those advancements, though, its native cryptocurrency – DOT – has underperformed in the past month, registering a 14% decline and currently trading at around $7 (per CoinGecko’s data). One perso ..read more

Kraken and the US Securities and Exchange Commission (SEC) remain embroiled in a dispute, as the crypto exchange filed a new document questioning the accuracy of the regulator’s case. The development comes three months after Kraken filed a motion to dismiss the SEC’s lawsuit against it. SEC’s Case Isn’t Worded Correctly Kraken recently filed a response to the SEC’s April letter regarding the company’s motion to dismiss the case. In it, the exchange alleged that the securities regulator failed to identify any investment contracts that were traded, brokered, or settled on its platform. The filin ..read more

Bitcoin’s price fell 2.5% to $60,300 on Friday as Federal Reserve officials weighed their options for combatting stubborn price inflation in the United States. Bitcoin traded for $63,400, at noon UTC on Friday, before plummeting below $61,000 over the next few hours. According to Coinglass, the volatility triggered $175 million in liquidations over the past 24 hours. The single largest liquidation took place on a Binance BTC/USDT trade for $3.56 million. Speaking at a Louisiana Bankers Association conference in New Orleans this week, Dallas Fed President Lorie Logan suggested it may be “too e ..read more

TL;DR The legal confrontation between Ripple and the SEC intensifies, with recent filings focusing on whether a key witness’s declaration is standard evidence or unsolicited expert testimony. As both parties await a judicial ruling, speculations arise about a potential settlement this summer. The SEC’s Actions The legal case between Ripple and the US Securities and Exchange Commission (SEC), which dates back to December 2020, has intensified in the past several weeks. One important reason for the numerous actions from both sides is the start of the trial process on April 23. Shortly after t ..read more

Over the years, analysts and developers have touted Ethereum as a deflationary network, presenting the blockchain as ultrasound, aligning with Bitcoin’s sound money principle. However, that seems to have changed with the network’s latest upgrade. CryptoQuant analysts revealed in the firm’s latest weekly report that Ethereum ceased to be a deflationary network after the Dencun upgrade, implemented in March, which reduced the blockchain’s transaction fees by a substantial amount. The Ultrasound Money Narrative Ethereum’s ultrasound money narrative refers to the network as a system that maintains ..read more

Bitcoin’s price saw a lot of volatility last week, especially before and after the US Fed’s most recent FOMC meeting, but managed to recover some ground during the current one. Let’s unpack. The primary cryptocurrency had dropped to a multi-month low of $56,500 last Wednesday, went on a volatile rollercoaster as the US central bank said it would not raise the interest rates, and began its recovery on Friday. At the time, BTC soared from under $59,000 to $62,000 in minutes and kept climbing during the weekend. As such, it touched $64,000 on a couple of occasions but failed to overcome that leve ..read more

The Bitcoin kimchi premium in South Korea has plummeted significantly amid a broader market decline, signifying weakened enthusiasm among digital asset investors in the country. According to data from CryptoQuant, the Bitcoin kimchi premium slumped to 1.5% on Friday during the afternoon trading session in Asia. Bitcoin Kimchi Premium Slumps For the uninitiated, the kimchi premium is an indicator of the difference between Bitcoin’s valuation on South Korean exchanges and global crypto trading platforms. The term also refers to a South Korean dish. Bitcoin’s (BTC) price on South Korean exchanges ..read more

The meme coin space is experiencing a strong end to the week after Slothana (SLOTH) rocketed over 30%. Presale investors are now up around 70% since the token’s DEX debut. Slothana’s rapid rise has crypto traders wondering whether the new Sealana (SEAL) meme coin could be the next joke token to break out on Solana. How Slothana Became One of the Hottest Meme Coins on Solana SLOTH is leading the charge in the meme coin space after an incredible debut. After launching on DEXs last week, SLOTH’s price has rocketed to $0.0239, a 32% increase in the past day. Those who managed to get in during Slo ..read more

Crypto traders can’t get enough of AI coins lately. Several tokens focused on artificial intelligence have been pumping hard this week, with price movements that have turned heads. From indexing protocols to AI-powered meme coins, these projects are clearly striking a chord with investors. Turbo – The Viral Meme Coin Project Created by AI The first AI coin that’s been supercharged this week is the aptly named Turbo (TURBO). This meme coin has crypto traders buzzing, with its price rocketing by 38% in the past 24 hours to hit $0.00107. However, that’s just a fraction of TURBO’s epic run. Zoomi ..read more

[PRESS RELEASE – Dubai, United Arab Emirates, May 10th, 2024] Bybit, one of the world’s top three crypto exchanges by volume, has once again underscored its dedication to transparency and trustworthiness by releasing its proof-of-reserves audit, which includes 40 cryptocurrencies, the most comprehensive in the sector. The cryptos covered and all backed over 100% are: BTC, ETH, USDT, USDC, AGI, AGLA, APEX, APT, ATOM, AVAX, BEAM, BLUR, COMP, CRV, DAI, DOGE, DOT, DYDX, EOS, FET, FTM, GALA, IMX, LDO, LINK, LTC, MANA, MATIC, MNT, OP, PEPE, RNDR, SAND, SHIB, SHRAP, SOL, SUSHI, UNI, WLD, and XRP. The ..read more