Solana (SOL) recently experienced a significant increase in value, but questions arise regarding the sustainability of its market capitalization. This article aims to analyze the factors contributing to Solana’s price surge and investment viability. Solana witnessed a notable 36.6% increase in value between October 30 and November 2. However, its failure to breach the $44.50
Altcoins
Recently, Monero, a popular cryptocurrency, experienced a major setback when its community crowdfunding wallet was compromised. The attack resulted in the loss of the entire balance, which amounted to 2,675.73 Monero (XMR), equivalent to approximately $460,000. The incident occurred on September 1, but it was not publicly disclosed until November 2 by Luigi, one of
In a recent court filing on October 27, the United States Securities and Exchange Commission (SEC) expressed its disagreement with the jury’s conclusion regarding Terraform Labs’ alleged violations. The SEC has demanded a summary judgment, challenging the jury’s leniency towards Do Kwon and his involvement in the fraudulent activities that led to the collapse of
Arthur Hayes, the former CEO of crypto derivatives exchange BitMEX, has recently revealed that he purchased SOL (SOL) at what could potentially be its local top. This admission raises eyebrows, as the cryptocurrency had already rebounded 500% from its market bottom near $8 in December 2022. Despite this, Hayes remains bullish on SOL and sees
Ether (ETH), the native cryptocurrency of the Ethereum network, has experienced a decline of 14.7% since reaching its peak at $2,120 on April 16, 2023. However, despite this downturn, two derivatives metrics indicate that investors have not felt this bullish in over a year. This article aims to analyze the bullish sentiment in the Ether
The popularity of Unibot, a Telegram bot used for sniping trades on the decentralized exchange Uniswap, came to a halt on October 29 as a new contract was deployed, leading to an unexpected exploit. Unfortunately, this exploit resulted in the loss of approximately $560,000 worth of various memecoins from users. The blockchain analytics firm Scopescan
Bitcoin’s impressive rise to $35,000 has not only brought attention to the leading cryptocurrency but has also lifted the prices of various meme coins. Among these memecoins, Floki (FLOKI) stands out as it has surpassed its competitors in terms of percentage gains. In the span of a few days, FLOKI has experienced a surge of
The tech industry experienced a massive blow on October 25, as the release of several earnings reports caused over $280 billion to be wiped from the market value of the top blue-chip tech firms, collectively known as the “magnificent seven”. These seven companies, including Apple, Microsoft, Meta, Amazon, Alphabet, Nvidia, and Tesla, make up a
The ongoing legal battle between cryptocurrency exchange Coinbase and the United States Securities and Exchange Commission (SEC) has taken a new turn. In its final attempt to dismiss the lawsuit filed by the SEC, Coinbase has argued that the regulatory body overstepped its authority when classifying Coinbase-listed cryptocurrencies as securities. The exchange contends that the
The recent surge in Bitcoin’s price, reaching $35,000 for the first time in a year, has prompted major crypto exchanges to experience a net outflow of funds. This movement away from centralized platforms is seen as a bullish sign, indicating that traders are anticipating a price surge. Notably, Binance, crypto.com, and OKX recorded the largest
Bitcoin (BTC) reached new three-month highs on October 23, signaling a strong start to the week’s Asia trading session. The cryptocurrency’s price surged to $30,944 on Bitstamp, marking its first weekly close above $30,000 since the summer. This surge allowed BTC to approach key long-term resistance levels, including the 2023 high at $31,800. Traders and
Uniswap founder Hayden Adams shocked the cryptocurrency community when he recently announced on X (formerly Twitter) that he burned 99% of the HayCoin (HAY) supply. This drastic decision was made due to Adams’ concerns about the excessive price speculation surrounding the token in recent days. Five years ago, Adams deployed the HAY token for testing
Ripple has recently secured a significant legal win in its ongoing battle against the United States Securities and Exchange Commission (SEC). On October 19, the SEC announced its intention to dismiss all claims against Ripple CEO Brad Garlinghouse and executive chair Chris Larsen. This development marked a major milestone in the civil case that was
The native SUI token has been facing considerable challenges in recent days. After experiencing a significant drop of over 9%, allegations of supply manipulation by South Korean regulators further dampened its progress. Despite a minor recovery of just under 1% in the last 24 hours, the token fell from $0.41 on October 16 to new