Author: Crypto News

Last updated: May 13, 2024 22:30 EDT | 2 min read The top crypto gainers today were all to be found in the on-chain token markets / Source: Cryptonews With major cryptocurrencies seeing tentative gains at the start of the week, with Bitcoin (BTC) rising 2.5% to $63,000 as Ether (ETH) struggled but failed to rise above $3,000, the top crypto gainers today were all to be found in the on-chain token markets.Major cryptos remain locked within recent trading ranges ahead of a barrage of US data later in the week.But trading activity in the meme coin space was set…

Last updated: May 13, 2024 21:51 EDT | 2 min read Dogecoin Investors Shift to New GambleFi ICO, Chasing Potential 895% Returns / Source: Cryptonews The Dogecoin bulls were in charge on Monday amid a surge in meme coin risk-taking in wake of Roaring Kitty’s return to social media, but investors are nonetheless shifting funds to a new GambleFi ICO called Mega Dice as they hunt for 10x or 895% gains.Dogecoin gained 5% on Monday and was last trading just under $0.15, 10% up from earlier session lows.Legendary GameStop investor Roaring Kitty, who was a key leader of the meme…

Last updated: May 13, 2024 18:38 EDT | 2 min read Rain cryptocurrency exchange experienced a potential exploit on April 29, which transferred approximately $14.1 million worth of various cryptocurrencies to a new wallet under suspicious circumstances, according to a May 13 report from on-chain analyst ZachXBT.ZachXBT shared the information via their Telegram channel, noting that the exploit occurred on April 29. It entailed suspicious outflows from Rain’s Bitcoin (BTC), Ethereum (ETH), Solana (SOL), and XRP wallets. Funds from these wallets were swiftly transferred to instant exchanges, exchanged for Bitcoin and Ethereum, and then transferred to two addresses on the…

Last updated: May 13, 2024 18:22 EDT | 1 min read Edward Snowden warns that Bitcoin developers must prioritize privacy at the protocol level to protect users as the U.S. government intensifies its scrutiny of crypto mixers. Two crypto-supportive senators urged the Justice Department (DOJ) on Monday to reconsider its recent enforcement action against a popular Bitcoin privacy service.Senator Cynthia Lummis (R-WY) publicly shared a letter arguing that the DOJ’s “unprecedented interpretation” of what constitutes an unlicensed “money services business” (MSB) contradicts both Treasury Department guidance and the intent of Congress.Protecting Bitcoin Privacy Tools“This interpretation threatens to criminalize Americans offering…

Last updated: May 13, 2024 17:34 EDT | 2 min read Solana Price Prediction as SOL Trading Volume Soars to $2.5 Billion – Are Whales Buying the Dip? / Source: Cryptonews The Solana (SOL) price has jumped back up to test $150 from earlier session lows under $140 amid a surge in trading volumes, as traders await a barrage of upcoming US economic data releases later in the week.As per Yahoo Finance, trading volumes on major exchanges surpassed $2.5 billion on Monday. That was the highest since last Tuesday.The impressive price rise still leaves the Solana price lodged well within…

Last updated: May 13, 2024 17:08 EDT | 3 min read Dogecoin, Shiba Inu and Pepe make the shortlist for best crypto to buy now. Image by cryptonews.com As cryptocurrency markets rebound ahead of a week packed with important US economic data releases, various meme coins are leading the pack and might be the best crypto to buy now.Bitcoin (BTC) was last trading in the upper $62,000s, up 2% on the day but still stuck within recent ranges.US CPI and Retail Sales data out on Wednesday could shock the market out of its recent ranges. ⚠️WHAT’S YOUR BET FOR THIS…

Last updated: May 13, 2024 16:15 EDT | 4 min read GameStop Icon “Roaring Kitty” Posts For the First Time Since 2021 – Are These 5 Meme Coins the Next GME Stock? / Source: Cryptonews Iconic retail stock trader/investor “Roaring Kitty,” who rose to fame during the 2021 meme stock surge, just posted on X for the first time since 2021, igniting a surge in the excitement that a new meme stock/meme coin trading season could be inbound, and with traders feverishly hunting for meme coins that could be the next GME stock.GameStop icon Roading Kitty—Keith Gill in real life—posted…

Last updated: May 13, 2024 14:12 EDT | 2 min read Chinese workers are showing a lack of enthusiasm towards the country’s central bank digital currency (CBDC). A report on May 13 revealed that some workers who received their salaries in digital yuan (e-CNY) converted the asset into fiat currency immediately after they were paid, indicating a clear preference for physical cash over the digital alternative.Despite the Chinese government’s efforts to promote the adoption of the digital yuan, a report from the local media outlet South China Morning Post indicates that many workers are hesitant to use it in their…

Last updated: May 13, 2024 13:29 EDT | 2 min read President Joe Biden’s stringent crypto policies could jeopardize his re-election bid, according to Uniswap founder Hayden Adams. On May 13, Adams warned of the potential consequences that the administration could face at the November polls.Adams expressed concerns about President Biden and other Democrats’ perceived anti-crypto position, which could reduce the incumbent US president’s likelihood of re-election.Uniswap Founder Tags US SEC as Catalyst for Biden’s Potential LossHe advised that anyone close to President Biden or within his leadership circle “should be expressing how serious this is and pushing for immediate…

Last updated: May 13, 2024 13:14 EDT | 1 min read Source: Dalle-3 Bitcoin mining firms are scaling back the use of their computer fleets after industry revenues crunched substantially last month, according to a May 13 Coinshares report.After reaching an all-time high last month, the seven-day rolling average for the Bitcoin network hash rate has declined quickly since the beginning of May. Peaking at roughly 650 exahashes per second (EH/s) on April 19, the metric stood at 586 EH/s as of May 11.Bitcoin Miners Cut Costs After HalvingA “hash” is a guess answer to a complex math problem required…