Analysis News TheBitTimes.com

Former FTX CEO Sam Bankman-Fried may only need to wait for his sentencing scheduled for March 28, 2024, since U.S. prosecutors stated that they do not plan to proceed with a second trial against the disgraced entrepreneur. Additional criminal counts against Bankman-Fried accuse the former crypto mogul of illegal campaign financing, bank fraud, and securities and commodities violations.  According to Bloomberg, the U.S. government — in a letter to Judge Lewis Kaplan — notified the court that most of the evidence that would have been presented in the second trial slated for March 2024, was already addressed in Bankman-Fried’s first trial.  In addition to “the strong public interest in a prompt resolution of this matter,” prosecutors wish to proceed to Bankman-Fried’s sentencing, based on the counts from his first conviction.  You might also like: Sam Bankman-Fried swaps Bitcoin for mackerel in prison “Proceeding with sentencing in March 2024 without the delay ...

The native asset of the world’s largest crypto ex change platform by volume is spiking as new data reveals that Binance onboarded 40 million new users in 2023. According to Binance’s 2023 end of year report, the crypto ex change increased its number of new users by 30% compared to 2022 despite a year rife with regulatory woes. “This year, our organization took responsibility for historical issues and has evolved through leadership change , emerging from it an even stronger business. In 2023, Binance welcomed more than 40 million new users (more than a 30% increase from the end of last year), saw steady growth in its key services, and introduced new products and Features built for the next stage of the blockchain industry’s development. At the same time, we remained true to our core value – always putting our users first – and significantly strengthened our compliance program, making important steps toward becoming a truly compliance-led organization.” Earli...

Once a key player in the metaverse realm, Roblox anticipates a challenging 2024 as its investors voice concerns regarding the company’s ability to achieve sustainable profitability. Roblox, previously touted as a metaverse hub within the gaming platform space, is gearing up for a tough year ahead as its financial health continues to deteriorate, as per Sahil Alvi, the founder of Neuron Partners, an early backer of Roblox. In an interview with Fortune, Alvi did not hide his frustrations, noting that Roblox’s shares are still far from its IPO price achieved in Q1 2021. “We’ve been watching the stock languish for the better part of two years. It doesn’t seem the leadership team has gotten the memo that times have changed and markets no longer reward growth for growth’s sake.” Sahil Alvi You might also like: ‘Metaverse technology is still immature, but in 30 years, everyone will use it’ While Alvi did not detail his firm’s st...

Telcoin shared an update on the service suspension on its platform.  The team confirmed it has successfully fixed the issues, and services will resume soon.  The update failed to mention the $1.3 million hack raised by PeckShield. Days after suspending activities on its platform, the decentralized finance (DeFi) platform Telcoin broke its silence today as it issued an update to its customers on the recent security incident.In a post shared on X (formerly Twitter), the Telcoin team announced having made headway with the issues, stating, We have internally confirmed our assessment of the situation and that our fix was successful. Furthermore, the team confirms plans to resume operations on its platform once wallets are returned to their original balances. In addition, Telcoin promised a more detailed explanation of the incident once services were restored.  The update, which is the first since December 26, once again failed to mention th...

As 2023 draws to a close, Bitcoin (BTC) displays positive indicators across its charts, trying to suppress the significant price threshold of $45,000. This leaves cryptocurrency traders and investors pondering the potential price ranges it might reach in the upcoming year. Despite lingering below its annual peak of $44,000 and still far away from its all-time high of $67,000, the flagship crypto displays indications of recovery. Dominance until the halving? Suppose the historical indicators can tell us something. In that case, cycles occur in the market, and it is essential to recognize them to know whether to buy, sell, or hold, depending on the situation. It appears that a historical recurrence is underway wherein there is a possibility of reaching the peak of Bitcoin dominance before the imminent BTC halving event, as crypto analyst Michaël van de Poppe highlighted in his X post on December 27. Cryptocurrency Bitcoin dominance is back to 2-month lows, fueling ...

BNB price has jumped 5% in the past 24 hours and 20% this past week to trade above $310. The gains see BNB dethrone Solana in terms of market cap as SOL price dips following recent rally. BNB is trading more than 5% up in the past 24 hours and 20% in the past week as the Binance coin stages a comeback after a recent slump.  This follows Solana’s remarkable surge and eventual flippening of both XRP and BNB that saw the cryptocurrency reach prices last seen in April of last year. BNB back above Solana As Solana slumped amid increased profit taking over the Christmas period, BNB ’s market value rose. The native Binance coin is currently trading above $310, prices last witnessed in June. Its market cap at the time of writing is $47.9 billion, overtaking Solana that has slumped to $46.3 billion. BNB price is seeing a potential bullish run for the first time since slumping amid last month’s bombshell resignation of Binance founder and fo...

Cathie Wood thinks U.S. Securities and Exchange Commission (SEC) is likely to approve spot Bitcoin (BTC) ETFs in January, 2024. Ark Invest CEO Cathie Wood believes SEC will approve spot Bitcoin ETFs by Jan. 10, 2024. She believes that this date is the deadline not so much for applicants but directly for the regulator itself. “We don’t want the spot Bitcoin ETF to get the green light if there are any uncertainties the SEC may have. We answer the SEC’s queries individually, and the dialogues are very positive.” Cathie Wood, Ark Invest CEO In an interview with CNBC, she also noted that she was very pleased with her partner, 21Shares. She called it a leading provider of cryptocurrency exchange products. Wood also touched on the topic of Bitcoin. According to her, in 2024, the asset will experience a significant increase. She considers it the best means of hedging risks in inflation and economic instability. This is not the first time that Jan. 10, 2024, has appeared in the conte...

The ongoing discourse surrounding “ crypto vs artificial intelligence” has gained momentum in 2023, prompting discussions about the trajectory of these emerging technologies. Similar debates have historically accompanied the ascent of groundbreaking technologies, drawing parallels to the skepticism surrounding the permanence of the Internet in the early 2000s. Intriguingly, this year has seen searches for “AI” on Google surpassing those for “Bitcoin” and “ crypto ,” signifying a notable shift in user interests, as evidenced by data from Google Trends. Revelation of a Shift Through Google Trends Data Over the years, search interest in “Bitcoin” and occasionally “crypto” consistently overshadowed that of “AI.” However, the landscape began to transform around August 2022, and by November 2022, searches for “AI” surged, coinciding with the launch of OpenAI’s ChatGPT. Subsequently, the g...

Solana (SOL) has seen a remarkable surge, with a 93% increase in the last 30 days. Crypto trader Bluntz highlights SOL’s “uponly” trajectory. Bluntz points out the absence of significant resistance levels until the $137 mark. Crypto trader Bluntz took to Twitter to share insights on SOL’s recent performance, emphasizing the absence of significant resistance levels until $137. Solana Serenity Now Bluntz asserts that Solana has experienced an “uponly” trajectory since the breakout from a high timeframe range, highlighting the apparent lack of resistance until the $137 mark. The trader suggests that SOL is a notably opportune moment for those who recognize and capitalize on this bullish trend. Describing SOL’s recent surge as “honestly the easiest trade that so many faded,” Bluntz implies that the market presented a straightforward opportunity that some traders may have overlooked or underestimated....

As the end of 2023 gets closer, and the cryptocurrency industry is about to enter a new year on a generally positive note, Bitcoin (BTC) has continued to make its investors rich for the past 12 months, turning nearly 70,000 of them into millionaires during this time. Indeed, there are currently 97,326 Bitcoin holders whose possessions equal at least $1 million in BTC, which indicates an increase of 69,242 or 246.55% from the figure of 28,084 holders who had at least $1 million worth of BTC on January 5, 2023, as per the latest data obtained on December 25. Bitcoin holdings distribution among addresses. Source: BitInfoCharts Breaking the numbers further, 89,864 of these addresses had a Bitcoin balance worth over $1 million . At the same time, 7,462 of them held $10 million or more of the flagship decentralized finance (DeFi) asset, compared to 24,279 holding $1 million and 3,805 of those with north of $10 million BTC on January 5, 2023. Bitcoin millionaires on Janua...

A yield farmer has skilfully turned a modest $9,414 sum into a $9,853,086 portfolio. He attained the feat by trading the new OmniCat (OMNI) meme token. Meanwhile, the yield farmer has come under allegations of market manipulation. A yield farmer has captured widespread attention in the crypto community for adeptly turning a modest $9,414 sum into an impressive return on investment (ROI) of 104,564%. Prominent crypto on-chain resource Lookonchain recently posted details about how the yield farmer attained the feat through trading the new OmniCat (OMNI) meme token. Per Lookonchain’s disclosure, the yield farmer deployed 4 Ethereum tokens, worth $9,414 at the time of the transaction, to acquire 4,454,378,989 OMNI tokens. The trader orchestrated the substantial token acquisition via at least nine transactions.  The on-chain investigator disclosed that the trader amassed OMNI with four Ethereum addresses and five addresses on the Arbitrum network. He added...

ARB and OP may be ready for an upward run, an analyst opined. ARB was overbought but an entry around $1.10 could be perfect before another increase. OP may eye $4 as upward momentum continues to rise. According to Altcoin Sherpa, an analyst on X, the duo of Arbitrum (ARB) and Optimism (OP) are in pole position to experience exponential growth. Sherpa, in his post, opined that there could be a rotation of profit from other coins into Ethereum (ETH) and tokens linked to the blockchain which includes OP and ARB. As a result, he told his 202,100 followers to look for entries for ARB and OP around $1.38 and $3.30 respectively. You dont want to fade this price action. Time to do the old rotation to $ETH. Want to buy $ARB or $OP on a dip. OP entry: $3.30 ARB: $1.38 pic.twitter.com/E1rPHrnW1p — Altcoin Sherpa (@AltcoinSherpa) December 22, 2023 For a while, both tokens failed to make big moves. During that time, some market players opined that the inabi...

Injective (INJ) hits ATH at $43 after a 3000% in 2023. Pullix disrupts DeFi with $1.2M raised, $0.044 per PLX, and a unique hybrid approach. INJ’s AI integration and Pullix’s innovative DeFi platform signal a transformative 2024. The recent Injective (INJ) price surge to $43 has captivated the crypto community. With a 3000% increase in 2023, this AI finance blockch AI n token is demonstrating robust momentum. While Bitcoin traded sideways, INJ defied market trends, securing a weekly g AI n of nearly 64%. While all eyes are on the future trajectory of INJ and the factors fueling its impressive rally, another crypto project Pullix, which is currently in the presale stage, is making waves for its revolutionary online trading model. Injective’s phenomenal price surge Injective (INJ) has been a standout performer in the cryptocurrency market, and its recent surge to $43 marks a significant milestone. With a staggering 3000% rise over the la...

A widely followed cryptocurrency analyst and trader is expressing bullish sentiment on a blue-chip altcoin that has more than tripled in value in two months. The analyst pseudonymously known as Kaleo tells his 611,900 followers on the X social media platform that if THORchain (RUNE) rises above the descending trendline on the daily chart that is currently acting as a high time-frame resistance level, he could “easily see” the decentralized cross-chain liquidity protocol “making a run to new all-time highs”. “Bought the dip & started a position on RUNE. If there’s anything I’ve learned over the past several months – it’s don’t fade momentum. If this manages to break above HTF (high timeframe) resistance, I could easily see it making a run to new ATHs (all-time highs).” Source: Kaleo/X THORchain, which is currently the 50th-largest crypto asset by market cap, is trading at $5.40 at time of writing, up by around 231% f...

Hashdex has recently filed a new S-1 for their Bitcoin ETF to make DEFI a cash- only create and redeem application pioneer. Initially reported by James Seyffart, a Bloomberg Intelligence analyst, DEFI currently trades and aims to add spot Bitcoin exposure. Don't see anything drastically new in here honestly. Still don't see anything about who they will use as spot Bitcoin custodian which is what i'm most interested in seeing. — James Seyffart (@JSeyff) December 21, 2023 At the same time, Seyffart also notes that details on the spot Bitcoin custodian remain undisclosed. You might also like: Bitcoin ETF roundup: Grayscale meets with SEC, Hashdex releases ad Seyffart expressed skepticism about approvals this year, maintaining that approval might occur between Jan. 8 and 10. What do you reckon James, gun up your bum approval this week or in Jan? — OSF (@osf_rekt) December 21, 2023 Amid numerous updates on the spot Bitcoin ETF front, it’s no...

Victoria, Seychelles, December 21st, 2023, Chainwire Bitget, the world’s leading cryptocurrency exchange and Web3 company, is thrilled to announce the initial listing of GRAPE, a revolutionary Binance Smart Chain (BSC) project, and on its Launchpool. This strategic move underscores Bitget’s commitment to providing its community with unique and innovative projects. GRAPE, is redefining social networks within the crypto space, offering users a vibrant and engaging platform. GRAPE, a BSC project focused on community building, branding, and purpose, is making waves this holiday season. Serving as a beacon in the crypto landscape, GRAPE is developing a Web3-integrated social network tailored for crypto communities. The platform is comprised of two main products: GRAPE token and the community platform. GRAPE token serves as an information hub where users can engage in live chats, access information about specific coins, and learn more about the te...

One of YouTube’s biggest tech reviewers has heaped criticism on Solana ’s Saga Crypto phone, taking aim at the device’s “weak” camera, display, and battery. Marques Brownlee, who boasts 18 million YouTube subscribers and more than 6 million followers on X (formerly Twitter), included the Saga in his 2023 ‘Smartphone Awards,’ naming the device ‘Bust of the Year.’ The end-of-year round-up features some of the biggest names in the smartphone industry, with gongs being handed out to household names such as Samsung, Apple, and Asus, alongside slightly more niche brands such as Honor, OnePlus, and the Nothing Phone. However, while rival handsets celebrated accolades in categories including ‘Best Big Phone,’ ‘Best Camera,’ and ‘Most Improved,’ Solana ’s controversial gizmo was given a resounding ‘thumbs down.’ In handing over “the award you never want to give,” Brownlee began by saying, “It is actually genuinely hard now to get a bad phone. Most phones, no matter what price point you’r...

The cryptocurrency market is once again buzzing with excitement as the spotlight shifts to the potential approval of spot exchange-traded funds (ETFs) for two major players: Bitcoin and Ethereum. This development injects a renewed sense of optimism into the market, hinting at the possibility of a resurgence in the cryptocurrency bull run. With expectations of a bullish trend in 2024, investors are eyeing the digital asset industry, and here are three top cryptocurrencies to consider ahead of the potential bull run. Also read: Will Ethereum Flip Bitcoin in 2024? VanEck Weighs In Bitcoin (BTC) First up is Bitcoin, which has risen over 140% in 2023 thus far and continues tracking upwards. As the benchmark crypto asset, Bitcoin typically leads wider market moves, and its sustained upside bodes well for sentiment across other alternative coins. Moreover, analysts cite upcoming catalysts like a potential spot Bitcoin ETF approval as well as the asset’s next mining rewar...