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Crypto traders are talking about SOL price falling due to the risk of FTX selling its $1.16 billion Solana stake. Are they over-exaggerating? For a long time, Solana (SOL) has been associated with the founder of now insolvent crypto exchange FTX and hedge fund Alameda Research, Sam Bankman Fried. He was an early investor in the project and invested in numerous Solana ecosystem projects during the 2020-2021 bull mania. So when FTX collapsed toward the end of 2022, Solana and other “Sam coins” plummeted significantly, falling to lows of $9.89 — down 96.3% from the peak of $259.96. Since the start of 2023, Solana’s price staged a recovery to gain 175% to reach a peak of $27.37 as the ecosystem also witnessed growth. However, more recently, SOL came under tremendous selling pressure after the Delaware Bankruptcy Court approved the sale of FTX’s digital assets, which includes 55.75 million SOL worth $1.062 million. However, the unlock schedule of FTX’s holdings and derivative market posit...

If the proposal were to take effect, Synthetix would much more closely resemble a traditional business by simply generating fee revenue and distributing the proceeds to SNX holders. The founder of decentralized finance (DeFi) protocol Synthetix, Kain Warwick, has submitted a proposal that would turn off very high yield returns for SNX stakers and cap the total SNX token supply at 300 million.  The Synthetix protocol allows traders to issue synthetic versions of crypto native assets, traditional financial assets, and commodities on the Ethereum and Optimism networks. In an Aug. 25 Synthetix Improvement Proposal (SIP) Warwick explained that SNX reward inflation was initially intended to “bootstrap the network”, however, he believes it’s no longer necessary as they can generate sustainable fee yields from atomic swaps. monthly trading volume on @synthetix_io pic.twitter.com/QCWYbB5Xu4 — Token Terminal (@tokenterminal) August 25, 2022 A big rise in fee revenue has been a result of...

The former FTX CEO said he will be speaking at a conference by The New York Times, the same outfit that wrote the recent puff piece on Bankman-Fried. Former FTX CEO Sam Bankman-Fried has once again attracted the ire of the crypto community — this time over his slated appearance at an upcoming New York City conference on Nov. 30.  Vocal members of Crypto Twitter have questioned why the former CEO of the now-bankrupt exchange continues to walk free, given the events over the last month. In a Nov. 23 Twitter post, Bankman-Fried announced he will be speaking with The New York Times journalist Andrew Sorkin at the DealBook Summit “next Wednesday.” The news was confirmed publicly by Sorkin, who said: “There are a lot of important questions to be asked and answered. Nothing is off limits.” A lot of folks have been asking if I would still be interviewing @SBF_ FTX at the @nytimes @dealbook Summit on Nov 30… The answer is yes. There are a lot of important questions to be asked and answered. ...

More gains for XRP price appear likely due to a classic bullish continuation pattern alongside strong whale accumulation. XRP (XRP) has risen by an impressive 60% in the first quarter of 2023, helped by rising speculation over Ripple’s potential legal win versus the U.S. Securities and Exchange Commission and broader bullish sentiment in the cryptocurrency market. The XRP/USD pair now eyes more gains in the second quarter, primarily due to a classic bullish continuation pattern. XRP price paints bull pennant In late March, XRP broke above its multimonth ascending trendline resistance, averting a potential 35% correction. The rebound reached $0.58 on March 29, its highest level since May 2022. Now, XRP has been consolidating sideways in what appears to be a bull pennant. This bullish continuation pattern forms when the price consolidates inside a symmetrical triangle after undergoing a strong rally. A bull pennant resolves after the price breaks above its upper trendline while accompa...

SOL price rallied to a year-to-date high above $30, but Solana’s struggle with increasing its user stats call the current bullish momentum into question. Solana (SOL) price briefly surged to a new year-to-date peak on June 14 after Ripple’s partial win against the U.S. Securities Exchange and Commission in the case contesting XRP’s position as a security.  The token recorded gains of 48.09%, reaching a peak of $32.40 as news of the court ruling spread, before retracing below the $30.00 level. The positive gains following the verdict not only eliminated the losses from June 2023 when the SEC considered SOL a security in its lawsuit against Binance and Coinbase, but also reclaimed levels not seen since the FTX collapse in November 2022. However, the network's usage and market charts suggest that a long-term bullish price trend is unlikely, with the $30 level forming a crucial resistance level. Solana ecosystem growth stalls The total fees paid on Solana are still ranging below Q3 ...

The EOS Network Foundation has called on plaintiffs to drop the $22 million settlement with Block.one weeks after initiating a new class action. Amid the approaching deadline for opting out of the current $22 million settlement with Block.one (B1), EOS Network Foundation (ENF) has called on plaintiffs to drop the lawsuit. The ENF took to Twitter on Aug. 8 to encourage plaintiffs to reject the $22 million settlement Block.one, the firm that was the original seller of EOS (EOS) in a $4 billion initial coin offering (ICO) in 2018. The EOS foundation argued that the existing settlement “does not adequately compensate” community members for losses caused by Block.one’s “misrepresentations and bad acts.” The ENF emphasized that the settlement amount is a tiny fraction of the amount raised by Block.one as well as $1 billion that it falsely promised to invest in the EOS network and community. “$22 million is too small a price for Block.one to pay to avoid having to be held to account for...

Investors reported they lost up to $2.2 million when the developer of Pond0x allegedly mishandled the token’s launch. The launch of memecoin Pond0x (PNDX) has led to millions of dollars in losses for investors, according to multiple reports on social media on July 28. Data from the Maestrobots trading app shows that the token reached a price of $0.36 before collapsing to near zero in a span of five minutes. Maestrobots chart of PNDX/USD during its launch. Source: Maestrobots. The launch of Pond0x was announced on July 28 by pseudonymous Not Larva Labs founder “Pauly,” who is known only by his X username. Not Larva Labs is the developer of an NFT trading app for CryptoPunks and for a separate parody collection called “CryptoPhunks.” It is not associated with Larva Labs, the creators of CryptoPunks. In the announcement, Pauly listed the contract address for PNDX and the URL for its official web app. Welcome To Pond0x https://t.co/iSiwpRDrix • $PNDX Contract: 0x1d4214081985ad20aa3ca93a...

Ethereum (ETH) is making significant strides despite the broader downturn in the crypto market. According to Altcoin Daily, a widely followed crypto-focused YouTube channel, several factors are converging to suggest a potentially optimistic future for the world’s second-largest cryptocurrency by market cap. Analysts cited in the video predict that Ethereum’s price could reach an all-time high of $3,000 as the balance of ETH on exchanges drops to an all-time low of 12.6%. This reduction in available tokens for selling is generally considered a bullish indicator. However, this trend doesn’t solely signify positive market sentiment. Recent regulatory crackdowns on major centralized exchanges like Binance and Coinbase have led many investors to withdraw their ETH to private wallets. These actions, while contributing to the decrease in exchange balances, also underscore growing concerns over regulatory scrutiny in the crypto industry. Meanwhile, the proportion of st...

Whether XRP is ruled as a security or not in the Ripple case will certainly have an influence on the two latest crypto exchange lawsuits, crypto lawyers told Cointelegraph. The judges presiding over Coinbase and Binance’s lawsuits will likely watch the results of the SEC v Ripple case closely, crypto lawyers told Cointelegraph. Ripple has been in a legal battle with the SEC since December 2020. The regulator alleges it was offering unregistered securities via XRP (XRP) since 2013. On June 6 the SEC filed a lawsuit against Coinbase also alleging that it has been offering unregistered securities. A day before it filed a lawsuit against Binance containing some similar allegations. Lawyer James Murphy, known as “MetaLawMan” on Twitter, explained in a series of tweets on June 9 that a favorable outcome for Ripple could “undermine the entire basis for the SEC’s case” against both, Coinbase, and Binance. 1/ The stakes just keep getting higher for the ruling in SEC v. @Ripple. Here's why....

BTC price upside is likely limited, market participants argue, with Bitcoin pinned below $27,500. Bitcoin (BTC) bounced near multiple support trend lines into June 2 as market indecision remained in force. BTC/USD 1-hour candle chart on Bitstamp. Source: TradingView Traders bet on $27,500 BTC price ceiling Data from Cointelegraph Markets Pro and TradingView showed BTC/USD hitting lows of $26,519 on Bitstamp after the daily close. The pair showed little signs of trend change as a stalemate between bulls and bears continued to produce little volatility. The collection of moving averages (MAs), as well as the short-term holder (STH) realized price, near $26,000 thus stayed untested on intraday timeframes. Analyzing the current setup, popular trader Crypto Ed considered the potential for upside topping out at $27,500. “I do think we go down, but as long as we do not break that $26,000, there is a chance for a bullish surprise ,” he said in a YouTube update on the day. To break the curre...

Security firm CertiK alerted the community to a fraudulent Pepe website offering rewards, cautioning that the site is linked to a phishing contract. As the hype surrounding the PEPE memecoin intensifies, bad actors within the space have started to take notice, resulting in various scam attempts plaguing the crypto space.  According to blockchain security firm PeckShield, there were at least ten meme coin scams created in the last three days alone. The firm detected and reported scam tokens that recently had their liquidity removed, pulling the rug on investors. #PeckShieldAlert We have detected a series of #rugpulls involving the creation of ~10 Scam #MEME Tokens within the last 3 days. #PEPEDOGE, #PEPEC, #WOW, #MEME, #FOUR, #NEWPEPE, #BENZ, #BMW, #POP, and #BOBO, which was created ~3 hours ago and has just had its liquidity removed.… pic.twitter.com/pVOUMwv5Qt — PeckShieldAlert (@PeckShieldAlert) May 11, 2023 On Twitter, fake Pepe claim sites are also starting to be more prev...

The attacker targeted both the BNB Smart Chain and the Arbitrum network. CoinMarketCap data shows that DEI price dropped 30% following the security incident. Decentralized Finance (DeFi) protocol DEUS has lost over $6 million due to a security breach on its Stablecoin DEI. The hacker exploited a vulnerability in the BNB Smart Chain (BSC) on May 5, according to Blockchain security firm PeckShield.  A bot initiated the hack on the BSC, which led to a loss of more than $1.3 million. The attacker also targeted the Arbitrum network, with ARB/ETH deployments losing over $5 million. Twitter users claimed the token contract had a basic implementation error as the root cause. Hi @DeusDao: it appears to be a pubic burn vulnerability with loss > $1.3M alone at BSC. The ARB/ETH deployments are also affected. The BSC hack was successfully frontrun by a bot: https://t.co/hXskQOIfwV The DEI token @ BSC was upgraded on Apr-10-2023 https://t.co/QJHwnZaXMk pic.twitter.com/C51CnVsg1B — PeckShi...

A single Cointelegraph Markets Pro alert delivers a triple-digit winner in 24 hours for crypto traders. Cointelegraph Markets Pro stunned traders on April 8th with a massive 379% gain from a single alert. The AI-powered crypto trading platform detects market-moving events as they happen. One of the indicators pointing to these events is the VORTECS score. On April 7th, the OG Fan Token was getting ready for a remarkable rally. OG Fan Token is a cryptocurrency created for esports clubs to interact easier with their fans. In partnership with the blockchain mobile applications Socios.com, the OG esports club powered by the CHZ token aims to enhance the sporting experience. OG’s rally this week was followed by an interest spike in fan tokens like CITY and BAR. The token was trading at $2.90 when its VORTECS score — a historical “snapshot” comparison between current and past market conditions for individual coins — rose above 75. Over the next 24 hours, OG’s price skyrocketed to $13.90. Th...

Join us as we discuss whether cryptocurrency mining is still worth it in 2023 and all the latest updates regarding the mining industry. In this week’s episode of Market Talks, Cointelegraph welcomes Justin Kramer, CEO of Badgerland Home Crypto Mining and a long-time cryptocurrency investor. When he is not attending to his own mining rigs, Kramer provides consultation services to home-based operations and larger startups on how to set up mining farms. We start things off with miner prices and how they have changed in the last few months. Have the prices gone up or down, and what kind of impact does Bitcoin (BTC) have on prices? Which miners are the most in-demand right now, and who is buying them — small-scale miners or larger operations? Mining operations that paid extremely high prices for mining rigs, which are now not worth even close to the same amount, how are they managing in this market? What is their plan for getting their investments back? Is it a lost cause at this point sin...

DeFi lending platform Tender.fi sees $1.59 million of assets drained by alleged white hat hacker taking advantage of a misconfigured oracle. An alleged ethical hacker has drained $1.59 million from the decentralized finance (DeFi) lending platform Tender.fi, leading the service to halt borrowing while it attempts to recoup its assets. Web3-focused smart contract auditor CertiK and blockchain analyst Lookonchain flagged an exploit that saw funds drained from the DeFi lending protocol on March 7. Tender.fi confirmed the incident on Twitter, citing ‘an unusual amount of borrows’ through the protocol: We are investigating an unusual amount of borrows that came through the protocol- in the meantime, we have paused all borrowing. Thank you for your patience. — Tender.fi (@tender_fi) March 7, 2023 The latest update from the platform claims that a white hat hacker has made contact, and discussions are underway to recoup assets taken during the exploit. White hat hackers are also known...

This week’s bearish regulatory actions and rumors were not strong enough to suppress investors’ appetite for cryptocurrency. The total crypto market capitalization rejected at $1.13 trillion on Feb. 16, but there was no change in the month-long ascending channel structure. More importantly, this level represents a 43% gain in 2023, which is far from the $3 trillion level achieved in Nov. 2021. Still, the current recovery is notable.  Total crypto market cap in USD, 1-day. Source: TradingView As shown above, the ascending channel initiated in mid-January has left some room for a 10% correction down to $1 trillion without breaking the bullish formation. Investors reacted positively to the 5.6% year-on-year U.S. CPI inflation increase on Feb. 14 and the 3% retail sales monthly growth on Feb. 15. Bitcoin (BTC) had the biggest positive impact on the total crypto capitalization as its price gained 12.5% on the week. One area of concern is a Feb. 16 story on Binance.US financial transaction...

Despite the latest FTX-related crisis, Solana still has what it takes to win the layer-1 race, according to the head of strategy at the Solana Foundation, Austin Federa. About two months after the FTX collapse, the Solana network is stronger than ever, according to Austin Federa, head of strategy and communications at the Solana Foundation.  Federa defines the recent SOL token price crash as a short-term market reaction to the perceived connection between Solana and the defunct crypto exchange FTX. While FTX founder Sam Bankman-Fried was invested in many Solana-based projects, Federa pointed out he didn’t have any influence on the network’s operations and fundamentals.  “The external perception was that there was a very close relationship between the Solana network and FTX, which wasn’t the case,” Federa explained in a recent interview with Cointelegraph.  According to a recent report by Electric Capital, the Solana network has been experiencing a record inflow of Developers contrib...

Bitcoin’s volatility could soon pick up and that may boost buying interest in ETH, TON, XMR, and OKB. Cryptocurrency Markets lack any signs of volatility going into the year-end holiday season. This suggests that both the bulls and the bears are playing it safe and are not waging large bets due to the uncertainty regarding the next directional move. This indecisive phase is unlikely to continue for long because periods of low volatility are generally followed by an increase in volatility. Willy Woo, creator of on-chain analytics resource Woobull, anticipates that the duration of the current bear market may “be longer than 2018 but shorter than 2015.” Crypto market data daily view. Source: Coin360 The crypto winter has resulted in a loss of more than $116 billion to the personal equity of 17 investors and founders in the cryptocurrency space, according to estimates by Forbes. The carnage has been so severe that the names of 10 investors were removed from the crypto billionaire list. ...