Altcoin News by Thebittimes.Com

The ‘Stand With Crypto’ initiative, backed by Coinbase, has quickly garnered the support of over 100,000 individuals aiming to amplify the voices of crypto advocates in policy discussions across the United States. In the past few weeks, more than 100,000 people have joined ‘Stand With Crypto‘, an initiative supported by Coinbase, to advocate for cryptocurrency in the United States. The nonprofit’s website allows users to get in touch with policymakers and help understand their individual views on crypto. So far, 80,000 individuals have donated more than $2 million to support the cause. Half of the donation came from Coinbase CEO Brian Armstrong. All in 2 months: 100K+ crypto advocates mobilized. Congress contacted 16K+ times. Founders visited DC, advocating for pro-crypto policies. Momentum’s growing and we’re just getting started. Join the movement https://t.co/FAvYNzkmox  #StandWithCrypto pic.twitter.com/oRA3xisnft — Stand With Crypto️ (@standwithcry...

The correlation between Bitcoin, gold, and major stock indices like NASDAQ and S&P500 changed in October. Here is what it means. In early October, the financial landscape saw an unexpected twist. The trigger was the attack by Hamas on Israel, an event that led to noticeable shifts in global markets. Stocks, especially big players from the U.S. like the S&P 500 and Nasdaq, started facing downward pressure. Their values dipped, reflecting concerns from the ongoing geopolitical tensions. Several months prior, Bitcoin demonstrated a strong positive relationship with these key stock market s. However, by October, this parallel movement noticeably weakened as correlation figures with Bitcoin decreased. Gold and crypto currencies, typically seen as safe havens during uncertain times, began their ascent, seemingly moving together. In October, their correlation increased. Let’s dive into the connections between these assets, explore the reasons behind their movement, and discuss ...

THORChain (RUNE) has been constantly rising over the past ten days after witnessing a 45% decline since the start of October.  The asset has gained bullish momentum as the global crypto market capitalization gained traction, reaching a local top of $1.27 trillion. The possibility of the Bitcoin (BTC) spot exchange-traded fund is one of the main positive drivers. RUNE price, development activity , social volume and Binance funding rate – Oct. 31 | Source: Santiment According to data from Santiment, THORChain’s development activity rose by 27% in the past 24 hours and registered 160% gains since Oct. 29. Per the market intelligence platform, the asset’s development activity is still down by 95.4% from its local top on Oct. 17. You might also like: Daniel Shin denies hand in Terra’s collapse On the other hand, RUNE’s social volume surged by a whopping 160% over the past 24 hours, putting the asset in the trend zone, according to Santiment. Data shows that th...

Brand ambassadors for FTX Africa are now facing life-threatening situations and public backlash following the platform’s financial collapse. Brand representatives for the bankrupt FTX Africa are encountering life-endangering challenges, with several reporting serious threats against them. The representatives were initially tasked with increasing the user base for FTX Africa, receiving a share of the user trading fees along with performance-based monthly incentives. FTX Africa’s official Telegram group once boasted a membership exceeding 10,000. Pius Okedinachi, who formerly oversaw educational efforts at FTX Africa, recounted his experience to CoinDesk, noting that the platform appeared superior to other options at the time. “We encouraged many of our close ones to join the FTX platform,” he said. However, after FTX’s financial unraveling, those who were recruited have turned against the ambassadors . They are constantly being blamed by their friends a...

The HM Treasury today published a policy update to the country’s crypto regulation. In it, the UK government has outlined the FCA’s regime in stablecoin regulation. The Bank of England (BoE) and the Payment Systems Regulator (PSR) will also have a role. The UK government has published a policy update outlining a phased regulation of fiat-backed stablecoins in the country. In terms of regulating activities around Stablecoin s, the HM Treasury will focus on two areas – their use in payment chains and issuance and custody “in or from the UK .” The latter will be irrespective of a fiat-backed Stablecoin ’s uses, that’s whether for payments, as a settlement asset, or as a store of value. FCA, BoE role in stablecoin regulation In the publication, which was made public on Monday, the HM Treasury explains the expected regulatory regimes of the Financial Conduct Authority (FCA), the Bank of England (BoE) and the Payment Syst...

Thailand's second-largest lender by assets, Kasikornbank, is moving into crypto by acquiring a majority stake in the local crypto business Satang. Thailand’s Kasikornbank, one of the largest banks in the country, is moving into the crypto currency industry by acquiring a majority stake in the local crypto business Satang. Kasikornbank, also known as KBank, acquired 97% of shares in the operator of Thailand’s Satang crypto exchange, according to an announcement published on Oct. 30 on the website of the Stock Exchange of Thailand (SET). According to Kasikornbank, the acquisition is valued at 3.7 billion Thai baht, or around $103 million. The transaction is being made through K-Bank's new subsidiary called Unita Capital, which is focused on investment in the digital asset industry, the statement notes. Following the acquisition, Satang Corporation is set to change its name to Orbix Trade Company Limited. Kasikornbank’s crypto business will have three divisions, including th...

LastPass hack results in about $4.4 million crypto theft from 25 investors. Crypto security expert warns against entrusting mnemonic phrases to third-party services. Over 80 crypto wallets were compromised in the recent security breach. Crypto enthusiasts have again become victims of a high-profile hack following the compromise of the renowned password manager LastPass. In a recent statement on the X platform (formerly Twitter), prominent blockchain security threat tracker ZachXBT disclosed that over 25 crypto investors have been drained of millions of dollars resulting from the exploit of LastPass. ZachXBT noted that the hack on the victims happened in a single day last week, with over $4 million stolen in cryptocurrency. “Just on October 25, 2023, alone, another $4.4M was drained from 25+ victims due to the LastPass hack,” the investigator proclaimed. Just on October 25, 2023 alone another ~$4.4M was drained from 25+ victims as a result of the LastPass...

The crypto currency market is a realm teeming with opportunities. Although the limelight frequently falls on prominent crypto currencies such as Bitcoin (BTC) and Ethereum (ETH), there exists a trove of hidden gems trading below the $1 mark. These lesser-known altcoins, despite their modest valuation, harbor considerable growth potential. However, it’s imperative to recognize that an elevated level of risk accompanies them. For investors who possess a higher risk tolerance, allocating a portion of their investment capital, ranging from 10% to 20%, into these altcoins can provide a tantalizing chance to diversify their portfolio and position themselves for substantial gains in the forthcoming bull market. IMX Immutable X (IMX) is a blockchain technology company with a focus on shaping the future of Web3 Gaming. The company has rapidly evolved into a prominent player in the blockchain gaming sector, fostering an ever-expanding ecosystem of over 20 games, including renowned title...

New data reveals that deep-pocketed crypto investors are shifting hundreds of millions of dollars worth of crypto assets, including Bitcoin (BTC) and Dogecoin (DOGE). According to data from whale-surveying platform Whale Alert, about $544 million worth of the top crypto asset by market cap has been moved into crypto exchanges or unknown wallets. Transactions involving the king crypto on Whale Alert’s radar include: 1,499 BTC worth $51,276,429 transferred from Binance to Coinbene. 3,000 BTC worth $102,552,927 transferred from an unknown wallet to Coinbase. 2,765 BTC worth $94,492,884 transferred from an unknown wallet to Coinbase. 1,099 BTC worth $37,358,214 transferred from an unknown wallet to Coinbase. 952 BTC worth $32,345,568 transferred from an unknown wallet to Coinbase. 2,000 BTC worth $68,560,116 transferred from an unknown wallet to Coinbase. 3,195 BTC worth $109,078,397 transferred from an unknown wallet to unknown wallet. 1,400 BTC worth $...

dYdX completes the launch of its layer 1 proof-of-stake blockchain with the creation of its genesis block by chain validators. Decentralized cryptocurrency exchange dYdX has launched its layer 1 blockchain with the creation of its genesis block which will operate using native DYDX tokens. The dYdX Chain is set to distribute all fees to validators and stakers in USD Coin (USDC). This includes trading fees denominated in USDC as well as gas fees for DYDX-denominated transactions or USDC-denominated transactions. The proof-of-stake (PoS) blockchain network was built using Cosmos’ software development kit and makes use of CometBFT as its consensus protocol. Validators stake DYDX in order to secure the blockchain and carry out governance operations of the network. The launch of the dYdX Chain network itself spanned a massive number of companies: @dydx_ops_subdao coordinating genesis & launch generally + hosting indexer & frontend @dydxfoundation coordinating community governan...

Bitcoin has delivered gains that "set the foundation for a resumption of the 2023 uptrend," says the latest BTC price analysis from Glassnode. Bitcoin (BTC) is due to finish 2023 as it started, on-chain analytics firm Glassnode says as October gains near 30%. In the latest edition of its weekly newsletter, “The Week On-Chain,” released Oct. 24, research ers argued that the past week “sets the foundation” for a BTC price uptrend . BTC price "convincingly" beats out resistance levels As it hit $35,200 this week, Bitcoin eclipsed various key trendlines, which had previously acted as support for months. These included various moving averages (MA), among them the 200-week simple MA at $28,400 — the classic “bear market” support line. “A cluster of long-term simple moving averages of price are located around $28k, and have provided market resistance through September and October,” Glassnode noted. “After a month of the market grinding higher, the bulls found sufficient...

The bank also plans to expand support for fiat currencies to deal with JPM Coin other than the U.S. dollar and euro. JPMorgan’s blockchain-powered stablecoin JPM Coin, pegged to the U.S. dollar, has reached the $1 billion mark in processed daily transactions as the bank keeps betting on blockchain. In an interview with Bloomberg on Oct. 26, JPMorgan Chase global head of payments, Takis Georgakopoulos, said the bank is now weighing its options to launch a retail version of the currency to bring “that same efficiency to consumers.” You might also like: JPMorgan launches new tokenization platform Although JPMorgan recently launched euro-supported payments with JPM Coin, the digital token has been used “mostly” with U.S. dollars. The New York City-based financial giant is now considering expanding support for other fiat currencies, Georgakopoulos said, without going into details. “JPM Coin gets transacted on a daily basis mostly in US d...

Online art store Avante Art is offering print copies of CryptoPunks for the next 48 hours through a partnership with CryptoPunks brand owner Yuga Labs. Holders of CryptoPunk non-fungible tokens (NFTs) are being offered the chance to obtain physical prints of their digital art items, according to an October 26 announcement. The items are being offered as part of a partnership between online art store Avante Art and CryptoPunks brand owner Yuga Labs. The sale will last for only 48 hours. It began on October 26 at 3:00 p.m. UTC and will end on October 28 at 3:00 p.m. UTC. Our print collaboration with @avant_arte is officially live – for 48 hours only. Punk On-Chain is available exclusively to CryptoPunk holders at https://t.co/skT1FKTJgB pic.twitter.com/X657IqdgUT — CryptoPunks (@cryptopunksnfts) October 26, 2023 Two different version s of the physical CryptoPunks collection are being offered on Avante Art. The first is called “Punk-On-Chain.” Each punk owner can commission a Pu...

Crypto trader Ali Martinez says the second-largest memecoin by market cap could rally based on the readings of one indicator. Martinez tells his 31,600 followers on the social media platform X that the Tom Demark (TD) Sequential indicator is signaling a potential long opportunity for Shiba Inu (SHIB) on the weekly chart. The TD Sequential indicator is used by traders to predict potential trend reversals based on the closing prices of the 13 previous bars or candles. According to Martinez, the last two bullish signals on Shiba Inu from the TD Sequential indicator saw SHIB rally by “118% and 71% respectively”. “Given the infrequency yet precision of such signals, it’s a pivotal moment to keep a keen eye on SHIB.” Source: Ali Martinez/X SHIB is worth $0.00000738 at time of writing. Looking at Bitcoin (BTC), the crypto analyst says that based on the UTXO Realized Price Distribution (URPD) model, the next key resistance levels are about 13% and 38%...

JPMorgan’s JPM Coin is involved in $1 billion worth of transactions on a daily basis. The banking giant is reportedly looking forward to exploring the further potential of the JPM Coin. The Global Head of Payments, Takis Georgakopoulos, commented on the bank’s plans for creating the token’s retail version. According to a recent Bloomberg report, the financial services company JPMorgan Chase & Co.’s digital token, JPM Coin, has seen $1 billion worth of trans action s on a daily basis. The financial institution asserted that the team is further probing into the coin’s wider exploration, planning to create a “retail version” of the JPM coin. As per the report, JPMorgan has been committed to crypto and blockchain technologies and has run a blockchain-based repo application. Leveraging the digital token, JPMorgan stated that it looks forward to establishing the initiative at higher levels. The JPM Coin is reportedly used by the bank to manage cross-border ...

A new rug pull scam sees users lose several thousands of dollars to a fake Linea token project.  Blockchain security analyst Certik identified a latest rug pull scam, as a fake Linea token project that scammed users out of nearly $743,000. Victims have stated that the scam was potentially conducted by a Russian user named ‘AltLex,’ who was promoting the token on social media.  #CertiKSkynetAlert We have seen an exit scam on a fake Linea token Eth: 0x00000000fEB6A772307C6aA88AB9D57b209aCb18 ~$743k has been deposited into Tornado Cash Victims report that the token was promoted by an individual with the username AltLexhttps://t.co/Rt3u1jV4ft — CertiK Alert (@CertiKAlert) October 25, 2023 The scammer allegedly used a honeypotting technique, luring users away from the legitimate Linea token , which is an Ethereum scaling network. The scammer later deposited the entire amount to crypto mixer Tornado Cash, which has been recently accused of allowing criminals and North Korean ...

Uphold will help Ripple enhance its underlying crypto liquidity infrastructure. Ripple’s cross-border solution has gained huge traction amid use cases such as liquidity management, tokenization and custody solutions. Ripple has struck a new partnership with crypto exchange and Web3 financial platform Uphold, the companies announced on Tuesday. As noted in a press release, the collaboration is aimed at enhancing crypto liquidity for Ripple’s cross-border payments infrastructure. Uphold to enhance Ripple’s infrastructure Ripple’s solution, which involves the use of XRP to reduce cost and delivery time in cross-border payments, has gained massive traction amid the San Francisco-based company’s global partnership s.  BIG NEWS: @Ripple Forges New Partnership with Uphold to Enhance Underlying Crypto Liquidity Infrastructurehttps://t.co/1gJh95KDTQ pic.twitter.com/FLSDQxO0co — Uphold (@UpholdInc) October 24, 2023 Upho...

Bitcoin climbed above the $30,000 mark this month and is trading at $34,000 on Wednesday. The leading cryptocurrency doubled in price this year delivering profits to investors in the last seven months. Bitcoin spiked 102% from January to October this year, as it rose from a low of $16,500 to a high of $34,000. Investors who took an entry position in early 2023 have now doubled their investment in just 10 months. Also Read: U.S. Government Loses $116 Million by Selling Bitcoin Early BTC doubled in price this year despite the stock and cryptocurrency markets being in the bearish territory. The global economy remains weak due to macroeconomic factors and BTC outperformed leading stocks even during a downturn. However, a cryptocurrency analyst has predicted that Bitcoin could rise by $10,000 a day in the coming months. The analyst shared a chart highlighting how BTC could jump by $10,000 and take the cryptocurrency markets by surprise. Bitcoin Could Spike $10,000 In a Single Da...

In the aftermath of Ripple’s latest legal triumph against the US Securities and Exchange Commission (SEC), which saw the official dismissal of longstanding charges, the crypto world is abuzz with anticipation.  As we enter the final period of 2023, Finbold sought insights from financial and crypto experts regarding XRP’s (XRP) price outlook for 2024.  The analysts’ opinions, gathered by Finbold on October 24, were marked by a diverse range of forecasts for the crypto token’s potential price trajectory. These predictions spanned from bullish optimism to more cautious, tepid outlooks, reflecting the intricate interplay of various influencing factors. Dom Farnell, co-founder of The Investors Centre One of the finance experts who shared his predictions on XRP’s 2024 predictions was Dom Farnell, a co-founder of The Investors Centre.  Cryptocurrency Ripple to cash out $38 million in XRP amid bull run Cryptocurrency Offi...