Altcoin News by Thebittimes.Com

U.S. Securities and Exchange Commission (SEC) chair Gary Gensler continues to draw the ire of Republican lawmakers who support cryptocurrency. Tom Emmer, the majority whip in the U.S. House of Representatives, and Ohio Congressman Warren Davidson, are sponsoring a legislative effort aimed at removing Gensler from leadership. The legislation seemingly addresses worries about the commission’s priorities and Gensler’s scrutiny of crypto-related companies. In June, Emmer announced support for Davidson’s SEC Stabilization Act—a significant move toward restructuring the SEC. The bill aims to remove Gensler from office, citing concerns about his leadership and the SEC’s structure. Emmer and Davidson say they are acting to support American investors and efficient capital market functioning. The SEC Stabilization Act introduces key provisions to address these concerns: it proposes an additional sixth commissioner and the creation of an Executive Director overseeing day-to-day operatio

The asset manager submitted an amended S-1 Form with the SEC on deadline day, switching to cash-only subscriptions like most issuers seeking spot Bitcoin ETF approval.   VanEck’s update did not name the authorized participants for its VanEck Bitcoin Trust, an exchange-traded fund aiming to invest in the largest cryptocurrency by market cap at its spot price. JUST IN: VanEck filed it's sixth amendment to it's spot #Bitcoin ETF with the SEC. And here they come pic.twitter.com/v0kAJJ16Rl — Bitcoin Magazine (@BitcoinMagazine) December 29, 2023 Several other issuers like BlackRock have filed amended prospectus briefs to the cash-only edict stressed by the U.S. Securities and Exchange Commission (SEC). However, these update s have not disclosed APs who are effectively underwriters for these spot Bitcoin ETFs.  Underwriters guarantee payment and redemptions in the case of financial losses. These APs are typically banks, insurance companies, or investment houses. Should the S

Trader and analyst Ali Martinez says the technicals for two altcoins are looking bullish as the total crypto market cap reaches a 19-month high. Starting with Polygon (MATIC) rival Optimism (OP), Martinez tells his 38,100 followers on the social media platform X that the Ethereum layer-2 crypto project has formed an ascending parallel channel on the three-day chart and is in “price discovery mode”. An ascending parallel channel pattern is formed when the price of an asset is contained within three parallel trend lines. When price moves below the middle line of an ascending parallel channel pattern, it is typically considered to be a bearish move. When price moves above the middle line of the ascending parallel channel pattern, it is typically considered to be bullish. “With this pattern in play, OP might be setting its sights on the channel’s upper boundary, potentially targeting around $6.” Source: Ali Martinez/X Optimism is trading at $3.81 at time of writing

As 2023 approaches its conclusion, certain assets within the cryptocurrency market continue to witness price growth, while others are experiencing a deceleration in their gains compared to previous weeks. Shiba Inu (SHIB) is among those exhibiting a slowdown, prompting investors to contemplate whether it will achieve a rally to the desired psychological level of $0.01 in 2024. Shiba Inu initiated a positive price trend in late November, consistently ascending from $0.000008193 to the significant threshold of $0.00001000. It reach ed this level multiple times in December and consolidated at $0.00001068 as of December 28. SHIB 30-day price chart. Source: Finbold Can SHIB reach $0.01 in 2024? For this to happen, SHIB would need to surpass its all-time high price of $0.00007924, which it reach ed in October 2021, and for it to reach $0.01, an increase of a staggering 93,533% is required, a figure that may seem impossible to many, but market trends teach us that anything is possible.

Thunder Terminal’s Major Security Breach and Ongoing Recovery In a shocking turn of events, Thunder Terminal , a prominent on-chain trading protocol operating on Ethereum, Solana, Arbitrum, Base, and Avalanche, recently found itself amid a significant security breach. While the breach caused substantial concern, Thunder Terminal has taken robust steps to address the issue and restore user confidence. Recovery Efforts and Enhanced Security No one's private keys are compromised. Only 114 wallets out of over 14,000 were affected. Funds are safe going forward. We stopped the attack in <9 minutes. https://t.co/BPzeAg4cz8 — Thunder (@ThunderTerminal) December 27, 2023 Following the breach, Thunder Terminal acted swiftly to rectify the situation. They engaged the FBI to investigate the incident, demonstrating their commitment to resolving it thoroughly and professionally. In an update, Thunder Terminal announced that its platform would be live and trading

Following the firm’s most recent acquisition, Michael Saylor’s MicroStrategy now holds 189,150 Bitcoin (BTC) worth an astounding $8.1 billion. Indeed, Saylor recently unveiled the software firm’s 14,620 BTC acquisition as of December 26th, propelling the total worth of the holdings.  The company has continued to embrace the acquisition of Bitcoin as a key strategy. Subsequently, purchases over the last month have catapulted the overall worth. Altogether, the firm has been accumulating the asset since 2020, behind Bitcoin advocate and CEO Michael Saylor.  JUST IN: Michael Saylor's MicroStrategy now holds 189,150 #Bitcoin worth $8.1 Billion. — Watcher.Guru (@WatcherGuru) December 27, 2023 Also Read: Michael Saylor’s MicroStrategy Bitcoin Hits $2.3B Unrealized Profit Michael Saylor’s MicroStrategy Bitcoin Holdings Worth $8 Billion 2023 has certainly been an exciting year for the digital asset sector. The potential approval of a spot Bitcoin ETF is just on the horizon,

A trader who accurately called the bottom of Bitcoin’s (BTC) 2018 bear market thinks that the uptrend of one Ethereum (ETH) challenger that has massively outperformed the broader crypto markets this year is far from over. Pseudonymous analyst Bluntz tells his 233,400 followers on the social media platform X that the people who are calling for the end of Solana’s (SOL) big rally this year will most likely miss out on the altcoin’s surge to a fresh all-time high (ATH). According to Bluntz, Solana has a lot more gas left in the tank as he predicts that SOL could still print gains of more than 257% from current levels. “SOL is still 113% away from ATH. Why is everyone so hell-bent on calling tops? What the f**k is wrong with y’all? Just buy dips all the way to $400. Not a single person is ever going to remember the guy who may or may not have been successful in shorting a 10% move down, but they will remember the chads who long all the way to inevitable all-time hi

The original meme coin has undoubtedly become a key part of the digital asset sector. As the 10th largest token by market cap, it has found itself as one of the most popular investment options. However, could an ascension be on the cards? Specifically, could Dogecoin (DOGE) be set to surpass $1 in 2024? The asset is currently trading at $0.929, slightly down by less than 1% over the last 24 hours, according to CoinMarketCap. However, with the year quickly coming to a close, could the new year provide a renewed trajectory for the meme coin? Well, let’s delve a little bit deeper. Also Read: How Much Dogecoin is Needed to Be a Millionaire if it Hits $1? Dogecoin (DOGE) Set to Hit New All-Time High in 2024? Throughout 2023, the digital asset sector has seen a massive bounce back from the events a year prior. Indeed, overall market sentiment is increasingly positive as the Christmas holiday has come and gone. Now, with the new year on the horizon, various tokens could be poise

Crypto analyst ClayBro said that the 8 trillion SHIB withdrawal from exchanges is not a bullish sign. The analyst argued the withdrawal could be a shift in investors’ preferences.  Clay said Shiba Inu’s growth has been driven by increased confidence in the crypto market and SHIB burns. In a recent video, the cryptocurrency YouTuber ClayBro doused the excitement among members of the Shiba Inu meme coin community after over 8 trillion SHIB tokens were withdrawn from exchanges.  According to the analyst, the digital asset’s movement could be a shift in investors’ preferences. He continued by countering long-held narratives that asset movements away from exchanges is a bullish sign, while transfers to exchanges indicate a sell signal. Furthermore, ClayBro argued that the withdrawal of the tokens, worth an estimated $88 million, could be a bearish sign. The analyst said this would be the case if investors think the centralized exchanges would go under.  Ra

Meme coins currently rank among the most sought-after tokens in the cryptocurrency market. Renowned for their high volatility, some of the most notable meme coins have experienced staggering increases of over 10,000% in recent months. Investors have amassed significant wealth by strategically acquiring the right meme coin at opportune moments. With the broader crypto market experiencing gains and expectations of significant developments in 2024 that should continue these gains, investors might be looking at less expensive options that will provide them with an introduction to the cryptocurrency world. Dogecoin (DOGE) Dogecoin (DOGE), the pioneering meme coin, was introduced in 2013 as a playful jest. Although sharing the same source code as Bitcoin (BTC), it has no restrictions on the quantity of DOGE tokens that can be mined. Despite the seemingly unfavorable tokenomics for sustaining value, many enthusiasts view Dogecoin as a potential future currency. This token facilitates i

Dec 24, 2023 at 07:29 // Price Author Coin Idol The price of Solana (SOL) reached the predicted level of $100 on December 22. The altcoin reached a high of $100, but encountered resistance at this level. Long-term forecast for the Solana price: bullish The price of the cryptocurrency is currently oscillating below its recent high. Nonetheless, the cryptocurrency value has entered the overbought zone of the market. It is unlikely that the cryptocurrency will continue to rise. If buyers keep the price above $100, the market will reach a high of $120. If the recent hi

Cryptocurrency analyst and trader Ali Martinez is expressing bullish sentiment on an Ethereum (ETH) competitor based on price action. Martinez tells his 36,800 followers on the X social media platform that Fantom (FTM) managing to overcome and stay above a key resistance level “marks a significant bullish turn” for the smart contract-enabled blockchain platform’s native token. According to Martinez, FTM has the potential to surge by about 35% from the current level to around $0.65. “As long as FTM stays above this crucial level [of $0.47], brace for a strong rally!” Per a chart citing data from blockchain analytics platform IntoTheBlock, 99.21% of investors and traders who bought FTM at between $0.399 and $0.542 are in profit while only 0.76% are underwater. Source: Ali Martinez/X Fantom is trading at $0.482 at time of writing, up by over 60% over the past 30 days. Next up is the Ethereum scaling solution Polygon (MATIC). Martinez says that Polygon has an eno

Shiba Inu has burned over 8.5 billion SHIB in the third SHIB burn exercise. On-chain data shows the transaction happened at exactly 00:30:59 am on December 22. The latest exercise brings the total burned tokens by Shiba Inu to approximately 25.38 billion. Shiba Inu, one of the leading meme coin projects, has burned over 8.5 billion SHIB, the platform’s native cryptocurrency. In a recent post on X (formerly Twitter), Shibburn, a social media personality who tracks the SHIB burning process, said the team transferred the tokens to a dead wallet. Shiba Inu Transfers The exact number of burned SHIB tokens in the latest exercise is 8,533,564,693 SHIB, according to Lucie, a content marketing specialist of the Shiba Inu ecosystem. On-chain data shows the transaction happened at exactly 00:30:59 am UTC today. Lucie also mentioned in her post on X that this particular exercise represents the third time Shiba Inu has burned a significantly high amount of SHIB tok

Solana Mobile’s third-party distributor faced inventory issues, sparking order cancellations and refunds for affected customers. In an X post on Dec. 22, Solana Mobile, a mobile tech company developing the Solana Mobile Stack and Saga, revealed that a high surge in demand for its Saga product resulted in sellouts across the United States and the European Union. Last week, we saw an overwhelming demand for Saga, with sellouts in both the US & EU on our limited inventory of 20,000 devices produced globally. In working to fulfill orders, we learned of an inventory management issue with our third-party distributor that resulted in an… — Solana Mobile (@solanamobile) December 22, 2023 However, amid the hype, the company, which had a limited inventory of 20,000 devices produced globally, is facing challenge s in fulfilling orders due to an inventory management issues with a third-party distributor. “In working to fulfill orders, we learned of an inventory management issue wit

The FSRA announced an update to AML rules, aligning with the crypto travel rule, a regulatory requirement that mandates cryptocurrency service providers to share transaction information. According to a Dec. 21 announcement, the FSRA has recently implemented revisions to enhance clarity regarding requirements outlined in the AML Rulebook. These changes align with the UAE’s federal regulatory framework, reinforcing measures against money laundering, terrorism financing, and proliferation financing while ensuring compliance with targeted financial sanctions .  As per the comprehensive record of amendments, the recent revisions clearly designate digital assets as a recognized payment method, specifying that the payment for any part or all of the sale or purchase amount includes payments using virtual assets as outlined in the document. You might also like: Changpeng Zhao’s UAE return halted by federal court before sentencing These revisions have broad relevance, affecting all

Amid a fresh surge of positivity within the cryptocurrency market, where most digital assets are experiencing upward trends, Litecoin (LTC) has been going through a period of consolidation that has negated any significant price fluctuations. However, a crucial juncture was reached recently in the cryptocurrency’s evolution after successfully mining the 74,000,000th Litecoin. This indicates that only 10 million LTC remain to be mined from its total supply limit of 84 million, as announced by the Litecoin Foundation on December 19. During the rekindled interest in this digital asset, LTC price increased from $66, reaching a high of $79 before dropping to $69 at the time of writing. LTC 30-day price chart. Source: Finbold Considering the ongoing price fluctuations and the growing scarcity of this crypto, Finbold sought insights into the potential standing of the digital asset at the onset of 2024 by consulting the artificial intelligence (AI) bot ChatGPT. ChatGPT weights LTC’s pr