TL;DR Despite a recent 20% weekly decline, analysts forecast a significant rally for Shiba Inu, driven by positive technical indicators. A sharp increase in SHIB’s burn rate, enhancements to its Shibarium layer-2 platform, and other elements are seen as bullish signals for its future price. Where is SHIB Headed? The popular meme coin – Shiba Inu (SHIB) – has underperformed lately, with its price plunging by 20% on a monthly scale. For its part, the market capitalization has retraced below $13.5 billion. However, the negative trends don’t seem a big concern for ..read more

Aside from a minor mid-week dip, crypto markets have been relatively inactive in the past several days and continue to trade sideways. However, around 18,280 Bitcoin options contracts are set to expire on May 10, which may inject some volatility. The notional value for this week’s batch of expiring BTC contracts is around $1.15 billion, according to Deribit. The batch is slightly smaller than last week’s expiry event. Bitcoin Options Expiry The put/call ratio for this week’s BTC options is 0.64, which means that more calls, or long contracts, are expiring than puts or shorts. The longs are als ..read more

With Binance founder and former CEO Changpeng “CZ” Zhao recently sentenced to four months imprisonment, a WSJ report is alleging that the crypto exchange giant fired one of its investigators who exposed market manipulation by one of the company’s clients, DWF Labs. Binance, however, denied the report, stating that the cryptocurrency exchange maintains a strict market surveillance program that does not tolerate market abuse. DWF Supposedly Involved in Wash Trading Worth $300 Million According to a report by the Wall Street Journal, Binance hired a team of investigators following allegations of ..read more

The Nigerian government has denied the allegations made by Binance’s CEO, Richard Teng, claiming that its officials demanded a $150 million bribe to settle the criminal charges against the crypto exchange. In an official statement released on Wednesday, the Special Assistant to the Minister of Information and National Orientation, Rabiu Ibrahim, dismissed the claims as baseless. A “Diversionary Tactic” Ibrahim stated that the allegations were part of a coordinated effort by Binance to discredit the Nigerian government and divert attention away from the charges the company is currently facing i ..read more

Canada has imposed a fine against Binance – the world’s largest crypto exchange – for running afoul of the nation’s anti-money laundering rules last year. Per a public notice published on Thursday, the federal government said Binance didn’t comply with rules and registrations related to operating as a foreign money services business (FMSB). Binance Fined $4.4 Million By Canada The Financial Transactions and Reports Analysis Centre of Canada (FINTRAC) wrote: “Binance Holdings Limited was imposed an administrative monetary penalty of $6,002,000 CAD on May 7, 2024, for committing 2 violations. T ..read more

MarketVector, a subsidiary of the renowned American asset management giant VanEck, has launched the MEMECOIN Index. It has shown impressive performance, surging 195% in the past year and 137% since the start of 2024. This index aims to track the performance of six popular meme coins, such as DOGE, SHIB, and others. VanEck’s MEMECOIN Index The acceptance of meme coins within the cryptocurrency community is gaining traction, notably with the introduction of the “meme coin asset class” by traditional finance (TradFi). VanEck’s @MarketVector launches $MEMECOIN index, top 6 assets, 30% cap. Warns ..read more

[PRESS RELEASE – New York, New York, May 9th, 2024] Arch Raises $7M Led By Multicoin Capital To Build The First Bitcoin-Native Application Platform ArchVM Enables Bridgeless Applications On Bitcoin, The World’s Largest And Most Secure Blockchain HONG KONG, MAY 8, 2024 — Arch Labs, the inventors of Arch, a Bitcoin-native application platform that unlocks bridgeless decentralized finance (DeFi) on the world’s largest blockchain, today announced a $7M series seed round led by Multicoin Capital with participation from Portal Ventures, OKX Ventures, Big Brain Holdings, CMS Holdings, Tangent, Cypher ..read more

dogwifhat (WIF) continues to be one of the most talked-about meme coins on the market. Although WIF has struggled recently, many crypto traders still believe it has enormous long-term potential. But what about the newly launched Sealana (SEAL)? WIF Price Analysis – Current Levels & Price Action Let’s kick things off by looking at the price action around dogwifhat right now. This dog-themed token currently trades at $2.83, representing a 42% pullback from its recent all-time high. However, it’s worth noting that WIF has been steadily climbing in the past few weeks. In fact, the token has b ..read more

The Bitcoin network’s mining difficulty has experienced its largest negative adjustment since December 2022, when the bear market was in full gear. According to data from the real-time Bitcoin dashboard Bitbo, the mining difficulty fell 5.7% to 83.1 trillion on Thursday at block height 842,688. Bitcoin Mining Difficulty Negatively Adjusts Bitcoin’s mining difficulty measures how tough and time-consuming it is to produce a new block. The difficulty rises when the number of active miners increases and falls when it decreases, easing the mining process for other miners. The mining difficulty auto ..read more

[PRESS RELEASE – Willemstad, Curaçao, May 9th, 2024] Crypto.Games Casino Expands Cryptocurrency Options with the Addition of Polygon (MATIC) In a strategic move to expand its cryptocurrency offerings and improve transactional efficiency, Crypto.Games, the premier online crypto casino, is excited to announce the integration of Polygon (MATIC) into its payment options. This addition highlights CryptoGames’ commitment to adopting cutting-edge technologies that enhance user experience and accessibility in online gaming. CryptoGames: A Hub for Crypto Gaming Innovation Founded in 2020 and licensed b ..read more