Altcoin News by Thebittimes.Com

As we reveal four tokens that will revolutionise the investing world in February 2024, be ready for an exciting journey through the cryptocurrency universe! With Retik, Solana, Polkadot, and Avalanche leading the way, get ready for mind-blowing gains. These digital fighters promise a rollercoaster of profits in the volatile world of cryptocurrencies, but they are more than just tokens—they are the masterminds behind a financial revolution.  Fast-forward to the exciting prospects and distinctive characteristics that set these tokens apart and provide an amazing 25x return on investment. Fasten your seat belts. Greetings from the crypto riches of the future. Retik Finance (RETIK) Retik Finance has emerged as a promising player in the cryptocurrency space, offering a comprehensive decentralised finance (DeFi) ecosystem. With a vision to revolutionise the global financial landscape, Retik Finance introduces various elements such as the Retik Wallet, DeFi Debit Cards, and Re...

Tether has released the most recent assurance through the end of 2023, which claims continued growth in total reserves, profits, and excess reserves.  Tether , in its announcement regarding these financial results, bragged that “the fourth quarter witnessed a record-breaking net profit of $2.85 billion, of which ~$1 billion in net operating profit s (were primarily interests from US Treasuries) with the remaining primarily from the appreciation of Gold and Bitcoin reserves.” This growth in profits has funded some of Tether’s new investments, with Tether claiming that it used $640 million of the profits from this quarter to fund its venture investing, something that is now managed “within a new segregated VC umbrella.” Tether has recently been actively invested in energy, mining, staking, and other industries.  These investments are now purportedly under this new “VC umbrella,” but Tether has been an active venture capital investor for ...

Though investor optimism persists due to the approval of multiple spot Bitcoin (BTC) exchange-traded funds (BTC ETFs), the upcoming Bitcoin halving, and the expected approval of Ethereum (ETH) ETFs, 2024 has started off with a major downturn in the crypto market. Indeed, the red tide since January 1 has been almost universal and has swept most noteworthy cryptocurrencies, but in the crypto market, things tend to change fast. Nowhere is this more true than with the so-called meme coins – known to surge and fall hundreds and thousands of percent within hours and days. Shiba Inu (SHIB), which, together with the likes of Dogecoin (DOGE), Floki Inu (FLOKI), and Pepe (PEPE), is one of the most popular meme coins, might now be likely to see its contracts change course and surge – possibly all the way to $0.011. Technical indicator signals massive SHIB surge incoming A well-known technical indicator known as TD Sequential – a tool that seeks to detect trend fatigue and,...

One crypto whale is attracting notice for selling millions of dollars worth of a decentralized finance (DeFi) altcoin amid a market correction. According to blockchain tracking firm Lookonchain, one deep-pocketed investor sold their trove of MKR, the native token for the DeFi protocol Maker, within days as the asset dipped below $2,000. “A whale dumped 2,658 MKR for 5.37 million DAI at an average price of $2,022 in [four] days. And the price of MKR has dropped by 7.6% since the whale began dumping. The whale still holds 2,007 MKR ($3.9 million), be careful of selling again!” Source: Lookonchain/X Maker is trading for $1,973.71 at time of writing, up slightly in the last 24 hours. Lookonchain also noticed that another crypto whale just scooped up a large amount of the decentralized oracle network Chainlink (LINK). “A fresh wallet withdrew a total of 424,259 LINK ($6.26 million) from Binance [on January 28th].” Source: Lookonchain/X LINK is trading for $...

If BTC rises past $43,418, it could set the tone for a move to $45,000. FET could face a hurdle at $0.64. If rejected, its price could drop below $0.60. BLUR could hit $0.70 but an entry around $0.60 could be good if it pulls back. Crypto trader Altcoin Sherpa posted his Analysis about Bitcoin (BTC), Fetch.ai (FET), and Blur (BLUR) on January 29. For Bitcoin, Sherpa noted that he was extremely bullish on the coin for the long term. He, however, pointed out that the current price might not be a good entry despite admitting that BTC could reach $45,000 within a short period. $BTC: Not currently buying here but will keep observing. I think that price is still extremely bullish on high time frames but this isn't the place to open a fresh position IMO. Break this current area and I think we can easily test $45k. #Bitcoin pic.twitter.com/gQLvoNSh3r — Altcoin Sherpa (@AltcoinSherpa) January 29, 2024 Bitcoin (BTC) To back up his point, the ana...

The European Securities and Markets Authority (ESMA) has recently called for public feedback to help shape the criteria for classifying cryptocurrency assets as financial instruments. The latest move follows the European Parliament’s passage of the Markets in Crypto Assets (MiCA) regulations in August last year, marking a significant step in the regulation of the crypto market in Europe. #ESMA publishes 2⃣ Consultations Papers on guidelines under Markets in Crypto Assets Regulation #MiCA: on reverse solicitation on the classification of crypto-assets as financial instruments ️ Send your comments by 29 April 2024https://t.co/PEosx4t3UO pic.twitter.com/v31nWMUEcu — ESMA – EU Securities Markets Regulator (@ESMAComms) January 29, 2024 The ESMA’s request for input is part of an ongoing discussion about how to effectively regulate the burgeoning crypto industry in Europe. The authority highlighted the challenge of applying a standardized test to determine wh...

As the airdrop period for the Solana-based WEN token ended, a quarter of its supply was burned due to unclaimed tokens. The WEN token, a homage to the cryptocurrency community’s frequent inquiries about new token mintings, was part of a novel experiment involving fractionalized NFTs. Claiming for $WEN has officially finished. For the duration of Wen's upbringing, we have been emitting $WEN to the community via the claim . Now, there are no more emissions and over 1/4 of the total supply will be burned forever. We are excited to immortalize wen culture and… pic.twitter.com/BUEG5QrZoH — $WEN (@wenwencoin) January 29, 2024 In simpler terms, a poem by @weremeow was transformed into an NFT and then divided into one trillion parts, each part representing a WEN token. This approach led the creators to describe WEN as the first community coin based on fractional NFTs. A Love Letter To Wen Bros ️ pic.twitter.com/amTNSLcQ3f — meow (@weremeow) December 23, 2023 ...

SUI’s recent price correction to $1.31 found strong support, indicating potential for further gains. The rounding bottom pattern in the SUI/USD pair suggests a possible breakout towards $2.00. Strong RSI, MACD, and CMF indicators signal robust bullish momentum for the SUI market. The Sui (SUI) cryptocurrency has been in an uptrend, capturing the attention of investors and traders alike. Despite stiff resistance at the $1.50 mark, the digital asset exhibits bullish, solid momentum, hinting at potential future gains. In the last 24 hours, however, the SUI has experienced a slight price correction, causing some uncertainty among investors.  During the correction, the SUI price dipped to an intra-day low of $1.31, where support was found, leading to a bounce back toward the $1.40 level. This price action suggests that there is still strong buying interest in SUI, and investors may see this correction as a buying opportunity to enter or add to their pos...

Regulators are shedding light on scammers leveraging the allure of artificial intelligence (AI) to promote crypto trading systems with faulty claims of high or guaranteed returns. With the trend of using automated software for trading increasing, the Commodity Futures Trading Commission (CFTC) issued a customer advisory stressing that these AI systems cannot foresee market movements definitively.  See below. CFTC Customer Advisory Cautions the Public to Beware of Artificial Intelligence Scams: https://t.co/4SI2hwOPWq — CFTC (@CFTC) January 25, 2024 The customer advisory titled “AI Won’t Turn Trading Bots into Money Machines” exposes the fraudulent tactics used to attract investors, recounting tales like that of Cornelius Johannes Steynberg, who swindled over $1.7 billion in Bitcoin (BTC) from unsuspecting victims. The CFTC has subsequently advised traders to avoid seductive assurances of high gains from AI-assisted tools, warning that such exaggerated claims often fail to...

Ripple (XRP) appears to be laying the groundwork for a future XRP exchange-traded fund (ETF). A recent job opening for a Senior Manager for Business Development at Ripple listed a key responsibility: “drive cryptocurrency-related ETF initiatives with internal trading teams and relevant partners.” This has led some in the crypto community to wonder whether the blockchain payments company is aligning its strategy with the evolving crypto landscape. This development surfaces as Ripple navigates through a high-profile legal tussle with the U.S. Securities and Exchange Commission (SEC), which many speculate could eventually lead to clearer regulations and the much-anticipated approval of other crypto ETFs besides the Bitcoin spot ETF. The crypto analytics community and industry reporters have been quick to dissect the implications of this role. On Jan. 27, the cryptocurrency insights forum, Good Morning Crypto, took to X to highlight the possible significance of the little ti...

Craig Wright’s denial of appeal highlights his ongoing legal struggles and disputed claims of being Bitcoin’s creator. Jack Dorsey’s intervention shifted the legal course, focusing on allegations of forged documents. Wright’s settlement signals growing apprehension as the crypto community watches this high-stakes legal battle closely. The U.K. Supreme Court has denied Craig Wright permission to appeal a ruling in his libel case against Peter McCormack. As highlighted by Crypto Town Hall, a prominent blockchain figure, this case, which garnered significant attention in the cryptocurrency community, saw Wright claiming to be Satoshi Nakamoto, the elusive creator of Bitcoin. The court had previously awarded him a mere 1 GBP in compensation, dismissing his assertions. UK SUPREME COURT DENIES CRAIG WRIGHT'S APPEAL IN LIBEL SUIT The UK Supreme Court has denied Craig Wright permission to appeal a ruling against Peter McCormack. The earlie...

Although the past few weeks have been challenging for the majority of assets in the cryptocurrency market, it seems like the hardships might be over and that the industry as a whole could be racing toward the market capitalization of $2 trillion it last reached in March 2022. Specifically, according to the observations by the crypto trading expert Michaël van de Poppe, the total market cap of the crypto sector “has taken the liquidity and bounced from the crucial area” at $1.54 trillion, as he explained in an X post published on January 26. Therefore, in line with his chart pattern Analysis , the renowned crypto analyst has concluded that the market might continue toward the massively important market cap target of $2 trillion, which it previously lost in early April 2022 after spending almost a year above it. Crypto market cap analysis. Source: Michaël van de Poppe Indeed, the larger part of the sector could be seeing better days, particularly as its representative, the flagship ...

Financial firm Cantor Fitzgerald warns that 11 major publicly traded Bitcoin miners will not be profitable post-BTC halving event. Argo Blockchain and Hut 8 Mining are projected to face high post-halving costs, exceeding $60,000 per Bitcoin. Bitdeer and CleanSpark are forecasted as the only profitable miners, at $17,774 and $36,896 per Bitcoin, respectively. Eleven of the largest publicly traded Bitcoin miners could face serious profitability challenges after the upcoming halving event, a new report from financial firm Cantor Fitzgerald warns. Scheduled to occur in April 2024, the halving will reduce the reward for miners by 50%, a mechanism designed to maintain scarcity in Bitcoin’s supply. While this event is often viewed as bullish for Bitcoin’s long-term price, it also presents immediate challenges for miners with high operating costs. *BREAKING – new today! No matter the department, the entire team at @CleanSpark_Inc is committed t...

In a notable achievement for the Shiba Inu community, the development team has formally declared the initiation of the eagerly awaited automated SHIB token-burning mechanism. This revolutionary feature, in the 11th edition of the Shiba Inu Magazine, will enhance the network’s economic model. It will strategically diminish the SHIB token supply, potentially boosting the overall value of SHIB. Anticipated Testnet Deployment The path towards automation will mostly commence this month. The Shiba Inu team discloses intentions to roll out the automated SHIB token burn system on Puppynet for thorough testing. This pivotal initial phase seeks to refine the mechanism, ensure operational efficiency, and reinforce reliability before transitioning to the Mainnet. During the testing phase on Puppynet, users can anticipate witnessing various enhancements as the SHIB team fine-tunes the automated burn process. These improvements are carefully crafted to optimize performance and transparency...

Ethereum Name Service (ENS) price hits $18.46 after CUBE exchange support. Market cap and volume surged by 9% and 54%, showing growing interest in ENS. Technical indicators point to a potential bearish reversal in the ENS market, raising concerns for investors. Ethereum Name Service (ENS) has been on an uptrend over the previous 24 hours, having found support around the intra-day low of $16. This rise, triggered by the CUBE exchange’s announcement of supporting SNS and ENS domains, has sent the price of ENS to a new high of $18.46. This collaboration with the CUBE exchange is anticipated to improve the accessibility and usage of ENS domains, hence increasing demand for Ethereum Name Service. At press time, the ENS token was trading at $17.92, up 9.93% from its 24-hour low. If the bullish momentum breaks over the $18.46 resistance, the next level to watch out for is around the $19.00 mark. This might attract additional buyers and lead to more price...

North Korea-linked hackers stole nearly $430 million from decentralized finance and also targeted centralized services, exchanges, and wallet providers in 2023. Chainalysis, a blockchain forensic firm, says North Korea-affiliated hacking groups hit record in terms of attempted attacks against decentralized finance (defi) as well as centralized platforms like exchanges in 2023. According to the firm’s latest report, hacking groups Kimsuky and Lazarus Group have deployed 20 successful attacks against various platforms, netting around $1 billion worth of crypto in 2023, a 41.7% decrease in terms of stolen money compared to 2022. Value stolen by DPRK-linked hacking groups | Source: Chainalysis You might also like: US, South Korea and Japan collaborate to tackle North Korea cyberattacks While the hacking groups made approximately $428.8 million by attacking defi protocols, centralized services also fell victim, resulting in a loss of $150 million. Exchanges were not ...