A closely followed crypto trader believes that Bitcoin (BTC) and two altcoin projects are gearing up for massive rallies. Pseudonymous analyst Inmortal tells his 213,200 followers on the social media platform X that, based on the historical duration of market cycles, Bitcoin has much higher to go. “We still have room for 500 more green days.” Source: Inmortal/X Bitcoin is trading for $61,486 at time of writing, down 2.4% in the last 24 hours. Next up, the trader says that blockchain oracle Chainlink (LINK) appears to be in a consolidation phase that could lead to a massive breakout, based on ..read more

Tens of millions of dollars worth of the meme asset Dogecoin (DOGE) has left Robinhood Crypto after the firm received a Wells Notice from the U.S. Securities and Exchange Commission (SEC). New data from blockchain-tracking platform Bitcoinsensus reveals that 164 million DOGE worth $25 million was transferred out of Robinhood after the firm’s crypto branch received notice that the regulatory agency would be taking enforcement actions against it. A Well Notice is a warning given by the SEC informing an entity that legal action is going to be taken against them, though it is not an indication of ..read more

Most voters in US swing states think that the financial system is not fair, according to a new survey commissioned by venture capital firm Digital Currency Group (DCG). The Harris Poll surveyed 1,201 registered voters in Michigan, Ohio, Montana, Pennsylvania, Nevada and Arizona to explore the attitude of the electorate towards crypto and the current financial system. The survey found that voters in key battleground states are skeptical of the current financial system. Only 38% percent of the respondents think that the current financial system is meant for people like them while 25% see the sy ..read more

One widely followed crypto analyst says Bitcoin (BTC) needs to hold current price levels or face a precipitous drop. Crypto trader Michaël van de Poppe tells his 717,100 followers on the social media platform X that BTC could potentially fall by $10,000 in value if current levels aren’t maintained. “Bitcoin is at the range low. This is technically the area where you’d prefer to see it hold, so the upward momentum continues, and the range holds. If this doesn’t hold, then we might expect $52,000-$55,000 as a potential low on this ..read more

Global trading and technology firm Susquehanna is making massive investments in spot Bitcoin (BTC) exchange-traded funds (ETFs). In a new filing with the U.S. Securities and Exchange Commission (SEC), the company says it bought 17,271,326 shares of Grayscale Bitcoin Trust (GBTC) in three tranches of $6.3 million, $1.05 billion and $34.77 million for a total of $1.09 billion. The GBTC investment, which is now worth $955.10 million based on the current market price of $55.30 per share, represents Susquehanna’s biggest spot Bitcoin ETF allocation. The trading firm also bought 1,349,414 shares of ..read more

A major US city is preparing to relaunch a multimillion-dollar basic income program that will hand cash directly to residents. Mayor Brandon Johnson says he is allocating $32 million to reboot the Chicago Resilient Communities pilot, reports CBS News. The revived program seeks to hand out $500 per month for a period of one year to families experiencing financial struggles. The mayor says funding will come from the $1.9 billion that the city received from President Biden’s American Rescue Plan Act (ARPA) in 2021. The city of Chicago is giving the guaranteed income program new life in an effort ..read more

May 9, 2024 UXLINK, the leading social infrastructure platform, and Binance Web3 Wallet, the top-tier cryptocurrency wallet, are thrilled to announce their collaborative marketing campaign aimed at accelerating growth within Web 3.0. This initiative rewards participants with 20 million UXUY points, through the innovative UXLINK social protocol. In today’s rapidly evolving Web 3.0 landscape, fostering social interactions and community engagement has become increasingly important. UXLINK’s innovative social protocol – combined with Binance Web3 Wallet’s seamless access to DeFi services – prese ..read more

May 9, 2024 – Zug, Switzerland Lisk – a prominent layer-two solution and member of the Optimism Superchain – announces that Obligate – a Swiss-based on-chain capital markets platform renowned for its innovative blockchain-based financial services – will deploy an instance on its network. As part of their collaboration, Lisk and Obligate aim to address challenges in emerging markets by enhancing access to DeFi (decentralized financial) services. Obligate will utilize Lisk’s layer-two network, known for its high efficiency, speed and scalability, secured by Ethereum within the Optimism Superch ..read more

The founders of crypto analytics platform Glassnode are predicting that Bitcoin (BTC) will soon soar even higher after being up 7% in the last week. In a new thread, the co-founders of Glassnode, who go by the handle Negentropic on the social media platform X, tell their 62,900 followers that key indicators suggest Bitcoin is gearing up from a massive breakout. The analysts say Bitcoin appears to be forming a bullish pennant pattern. They also suggest that Bitcoin is correcting to a Fibonacci retracement level, in the low $60,000 range, which often predicts a continuation of an upward trend ..read more

The bankrupt crypto exchange FTX now has holdings worth billions of dollars more than the legally approved claims made by its creditors. A recently filed disclosure statement indicates that FTX’s bankruptcy estate estimates it will hold net distributable proceeds between $14.5 billion and $16.3 billion on September 30th, the projected start date for the exchange’s reorganization plan. FTX only owes creditors approximately $11.2 billion, putting the bankrupt exchange’s creditors in a position to recover between 118% and 142% of their claim values, according to the disclosure statement. However ..read more