Author: Benjamin Lee
The native token of a decentralized fiat stablecoin-issuing platform is rallying against the dipping crypto markets. Two days ago, the world’s largest crypto exchange by trading volume, Binance, added support for Usual Protocol (USUAL). “Binance is excited to announce that Usual (USUAL) will be added to Binance Simple Earn, Buy Crypto, Binance Convert, Binance Margin, Binance Auto-Invest, and Binance Futures at the respective dates and timings listed below.” According to a post on the social media platform X from Usual in response to the Binance listing, the team says the protocol aims to usher in a “stablecoin renaissance”. “90% for the…
Top US-based crypto exchange platform Coinbase is removing support for Wrapped Bitcoin (wBTC) as the crypto king crashes below six figures. In a new thread on the social media platform X, Coinbase Assets says it has disabled trading services for wBTC, the tokenized representation of Bitcoin (BTC) on the Ethereum (ETH) blockchain, as the digital asset no longer meets the firm’s listing standards. “We have disabled trading for wBTC. Your wBTC funds will remain accessible to you, and you will continue to have the ability to withdraw your funds at any time.” Coinbase – which first announced its decision to…
A widely followed crypto analyst says that one Solana (SOL)-based meme asset with a $1.89 billion market cap is going to zero against Dogecoin (DOGE). In a new strategy session, pseudonymous crypto strategist DonAlt tells his 637,200 followers on the social media platform X that even though memecoin dogwifhat (WIF) could bounce soon against DOGE, it’s ultimately going to zero against it. “Told everyone who wanted to hear that this was the ‘safest’ trade to take if you wanted to be hedged. Think that’s not the case anymore, think short-term WIF could bounce against DOGE. Generally think WIF is going…
A widely followed crypto analyst is suddenly turning bullish on one Ethereum (ETH)-based altcoin after its correction this week. In a new thread on the social media platform X, crypto trader Justin Bennett tells 115,500 followers that CRV, the native token of stablecoin lending platform CurveDAO, could soar more than 600% from its current value. “Well, we didn’t get my extremely hopeful $0.40-$0.50 buy zone on CRV. I had a [prayer] there for a reason. Lol. So I bought [Friday’s] blood, and I’ll add more on a weekly close above $0.87. $6-plus potential in my opinion.” Source: Justin Bennett/X CRV…
Investors who bought the token that “Hawk Tuah” meme star Haliey Welch launched earlier this month are taking legal action against the people behind the project. The price of Welch’s Solana (SOL)-based memecoin HAWK surged shortly after it went live earlier this month, but the token lost more than 95% of its value a few hours later, leading to accusations of a pump-and-dump scheme. A pump-and-dump scheme is a fraudulent practice in crypto that involves artificially inflating the price of a low-value token through hype and misrepresentation. Once the price of the coin goes up, those behind the scheme sell…
A widely followed cryptocurrency analyst and trader is saying that an altcoin in the Solana (SOL) ecosystem is at a critical juncture. The analyst pseudonymously known as Sherpa tells his 234,700 followers on the social media platform X that the memecoin Popcat (POPCAT) is at a “do-or-die” level. Based on Sherpa’s POPCAT chart, it appears that the Solana-based memecoin has formed a head and shoulders pattern on the daily time frame and could plunge if the support level fails to hold. A head and shoulders pattern is typically considered a bearish pattern in technical analysis. Source: Sherpa/X POPCAT is trading…
A decentralized real estate trading platform built on smart contract platform Solana (SOL) saw its price rise and dip after gaining support from Coinbase. Two days ago on the social media platform X, the top US-based crypto exchange platform said it had added Parcl (PARCL), a decentralized exchange (DEX) that lets users trade and invest in real estate using synthetic assets without the need to physically own any property. Synthetic assets are tokenized, blockchain-based representations of real-world assets, such as securities and real property that can easily be swapped. News of the addition caused the token to dip in price…
A lucky crypto trader scored a gigantic return after investing early in the new native asset of a non-fungible token (NFT) project built on Solana (SOL). The market analytics platform Arkham Intelligence notes that someone bought only $6 worth of PENGU, the new utility token for the NFT project Pudgy Penguins, then added it to the Solana-based decentralized exchange (DEX) Raydium (RAY) paired with $1100 worth of SOL. Explains Arkham, “Multiple users trying to snipe PENGU’s launch swapped into his pool, and bought tokens at highly unfavorable prices – earning him a profit of $87,000 in SOL and PENGU from…
A popular crypto analyst thinks that Ethereum (ETH) is on the verge of printing a massive breakout rally also known as a god candle. Pseudonymous analyst Inmortal tells his 221,100 followers on the social media platform X that Ethereum’s two-hour chart looks similar to Bitcoin’s (BTC) price action over the last two weeks. The analyst says that while Ethereum struggles to clear resistance at $4,000, he notes that BTC also had trouble breaching $100,000 for weeks before surging to new all-time highs. “Same price action, but with one difference. God candle after the breakout. ETH.” Source: Inmortal/X Based on the…
Crypto exchange Coinbase has cited risks linked to Tron-founder Justin Sun during a lawsuit over its delisting of Wrapped Bitcoin (wBTC). In a recent complaint, the wBTC custodian and Sun-affiliated BiT Global accused Coinbase of using wBTC – the tokenized representation of Bitcoin (BTC) on the Ethereum (ETH) blockchain – as a “cash grab” before delisting it and replacing it with its own version of the asset. Said the complaint, “In the case of wrapped Bitcoin, Coinbase viewed it as just another cash grab. It saw a competitor, wBTC, that had something it wanted: an innovative product that released value inherent…