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Happy Tuesday Folks! Yesterday, $1.85M was offered to identify the hacker who exploited Curve Finance and Adam Back offered $1M Bet that Bitcoin would reach $100K before the halving. Today, the most covered news is all about Cardano and the possible upside to that Crypto asset. The price of Bitcoin is currently trading at $29,260.18 and is trying to push higher. Let's dive into the news...
Bitcoin low volatility, muted interest points to major move, but the crypto king could soon find itself over the $30,000 level if key holders continue the trend of swapping stablecoins for Bitcoin (BTC), according to Santiment. In addition, Bitcoin stages a recovery toward a key resistance but fails to break through, and BTC price action is giving some cause for optimism as it just formed a golden cross chart pattern over the 200 day window. This has only happened twice before on BTC’s chart, and both times preceded bull runs to new all time highs. Venture capitalist Chris Burniske is staying confident in his call that crypto is gearing up to enter a new bull market.
Cathie Wood said Monday that she’s expecting another delay for ARK Invest’s proposed spot bitcoin ETF. An experimental version of the Bitcoin-focused AI chatbot was released on Thursday by Chaincode Labs, which says its new "ChatBTC" is less likely to give incorrect answers about the original blockchain, or to “hallucinate” like the more popular (and generalist) ChatGPT.
With the majority of the cryptocurrency market dragging its feet in recent weeks, it is no surprise that its second-largest asset by market cap, Ethereum (ETH), is doing the same. However, the hope remains it could hit the high price level of $5,000 sometime in the future. Cardano (ADA) has seen its total value locked (TVL) explode nearly 200% since the beginning of the year, crypto analytics firm Messari reports. Cardano (ADA) is currently trading at a pivotal $0.291. The question is: Will ADA experience a 28% upswing or is a 23% drop on the horizon? Remarkably, the ADA price still remains in bearish territory, but the potential for a trend reversal is palpable.
Justin Sun, founder of popular blockchain Tron, has urged people to disregard speculations that the crypto exchange Huobi is facing severe challenges following news of the alleged detention of some of the platform’s officials. Crypto exchange Blockchain.com has been granted a payments license from Singapore's central bank — the Monetary Authority of Singapore (MAS). The longest-running crypto exchange, Bitstamp, has reportedly been attempting to raise funds since June and the funds’ planned usage is for European derivatives in 2024 and expansion into Asian markets.
Solana-based decentralized exchange Cypher lost close to $1 million in crypto Monday due to an exploit or security incident. Scammers are trying to defraud unsuspecting users, capitalizing on PayPal’s (PYPL) recently launched dollar-pegged PayPal USD (PYUSD) stablecoin, by issuing fake tokens on various networks.
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Sources:
Bitcoin Price (TDH | Blockworks | TDH | CryptoPotato | Cointelegraph)
Bitcoin ETF (TB)
Bitcoin ChatGPT (Coindesk)
Ethereum (Finbold)
Cardano Metrics (TDH | CryptoPotato | Coindesk | NewsBTC | Finbold)
Huobi (NewsBTC | CryptoPotato | CryptoPotato | TB)
Bitstamp (TB | Cointelegraph | Coindesk)
Blockchain.com (Cointelegraph | Blockworks | CryptoPotato)
Cypher Protocol Hack (Coindesk | Cointelegraph)
PayPal Stabelcoin Scams (Coindesk)
