XRP Price Soars: Whales Investing Before Ripple Lawsuit Conclusion?
• XRP price has increased by 2.5% in the past 24 hours, rising to $0.375464 • Data suggests massive transfers of XRP from some of the market’s largest traders and with the coin’s 24-hour trading volume now topping $900 million • Ripple expecting an end to its case with the SEC later in the year, XRP could be in for a very big rally XRP Price Increase The XRP price has increased by 2.5% in the past 24 hours, rising to $0.375464 amid a 5% gain for the cryptocurrency market as a whole. Its current price equals a 0.5% gain in the past week, although the altcoin is also down by 2% in the past month, while it’s up by 10% since the beginning of 2023. Market Indicators XRP’s indicators suggest that the coin is ripe for a rally, given that it remains in a largely oversold position. Its 30-day…
Russian Regulator Monitors 25,000 Crypto Users with Sophisticated Tools
Overview of the Article The Russian anti-money laundering regulator is monitoring over 25,000 crypto users. Rosfinmonitoring has conducted 120 crypto-related investigations, leading to over 60 criminal prosecutions. The body is using a de-anonymizing solution in conjunction with VTB Bank to monitor transactions on various blockchain networks. Russian Anti-Money Laundering Regulator Monitoring Crypto Users The top Russian anti-money laundering regulator, Rosfinmonitoring, says it is „monitoring“ over 25,000 crypto users – and claims it has sophisticated tools that let it detect illegal activities. The agency’s head Yury Chikhanchin recently held a meeting with President Vladimir Putin regarding cryptocurrencies. He noted that the volume of use was growing and expressed concern about its potential for money laundering. Rosfinmonitoring has reportedly conducted around 120 investigations so far and led to more than 60 criminal prosecutions. Tools Used by Rosfinmonitoring Rosfinmonitoring has been making use of blockchain analytics software to increase its monitoring capabilities. In…
UK Banks Limit Crypto Transactions as Regulators Warn of Risks
• In response to the evolving legal and regulatory landscape surrounding the crypto industry, HSBC Holdings Plc and Nationwide Building Society have taken measures to limit retail customers‘ access to cryptoassets. • Both banks pointed to the Financial Conduct Authority (FCA), which had issued warnings about the risks that come with buying crypto. • Other UK institutions have tightened restrictions placed on crypto-related businesses over the past few years, including Banco Santander SA, Lloyds Banking Group Plc, and Natwest Group Plc. Regulator Warnings Prompt Banks to Limit Crypto Transactions In response to the evolving legal and regulatory landscape surrounding the crypto industry, HSBC Holdings Plc and Nationwide Building Society have taken measures to limit retail customers‘ access to cryptoassets. This latest development highlights the growing concerns and uncertainties faced by UK banks regarding the use and trade of cryptocurrencies. Nationwide’s Restrictions on Crypto Assets Nationwide has recently released more details…
ADA Set to Surge? Can Cardano Reach $3 This Year?
• Cardano (ADA) is coming under selling pressure Friday in tandem with broader crypto markets. • The latest US inflation report has triggered fears of more rate hikes, putting crypto gains at risk. • ADA is currently testing an uptrend and a close above the 200DMA could signal retest of highs. Cardano Price Forecast Cardano (ADA) is coming under selling pressure on Friday as broader cryptocurrency markets are weighed down by downside in US stocks and upside in the US dollar and yields following a hotter-than-expected US inflation report. ADA/USD was last changing hands in the $0.37s, down around 1.5% on the day. US Inflation Report The PCE Price Index report for January was released earlier today, which revealed a larger-than-expected jump in MoM core inflation to 0.6% from 0.4% in December, which was also revised higher from the previous estimate of 0.3%. This data has triggered fears that the…
Binance CEO Refutes USDC Delisting Claims Amid SEC’s Regulatory Actions
Bitcoin Price Prediction for 2023 • During the US trading session, there is a bullish outlook for Bitcoin’s price prediction as BTC has rebounded from the support level of $23,300. • Binance is reportedly thinking about breaking ties with its US business partners due to recent regulatory crackdowns by the SEC. • Binance CEO Changpeng Zhao (CZ) took to Twitter to deny claims that Binance was delisting tokens from any firms based in the United States. Bullish Outlook for Bitcoin Bitcoin’s price has been on a rollercoaster ride over the past few days, with significant price surges followed by steep drops. During the US trading session, there is a bullish outlook for Bitcoin’s price prediction as BTC has rebounded from the support level of $23,300. Regulatory Pressure Mounting The Securities Exchange Commission (SEC) recently launched a regulatory crackdown on crypto exchanges and firms operating in the United States. This led…
Microsoft Drops Industrial Metaverse Team, Lays Off 100 Employees
• Microsoft has discontinued its Industrial Metaverse Core team, a four-month-old project aimed to encourage the use of the metaverse in industrial environments. • The company wants to prioritize shorter-term projects over those needing longer to generate meaningful revenue. • Microsoft already had some major customers in the Industrial Metaverse space including Mercedes Benz and Coca-Cola. Microsoft Pulls Plug on Industrial Metaverse Team Microsoft has ended its four-month old project, Industrial Metaverse Core team that was encouraging the use of the metaverse in industrial environments. This decision was taken by the tech giant due to their need to prioritize shorter term projects that can generate more revenue in comparison with longer term ones. Layoffs About 100 employees working on this project were laid off as part of a plan to cut 10,000 workers announced by CEO Satya Nadella earlier this month. This is due to macroeconomic uncertainty and slowdown in…
Meme Coins on Fire! Tamadoge Up 10% to $0.022.
• Meme coin prices have been on a roll lately, with their market cap rising over $22 billion. • The renewed interest in meme coins is due to their brand power and the possibility of 10x gains for investors. • Trading volumes for meme coins are up significantly, indicating strong foundations for continued price appreciation. Meme Coin Prices on the Rise The past week has seen broad-based appreciation in meme coin prices, pushing the sector’s market cap over $22 billion and leading to substantial gains for top coins such as Shiba Inu (SHIB), Baby Doge Coin (Baby Doge), Bone ShibaSwap (BONE) and Tamadoge (TAMA). Why Are Investors Interested? The attraction of meme coins is based largely on their brand power, with investors taking notice that some meme coins are beginning to build real utility into their protocols. These projects offer visibility that can crossover into the mainstream, provided they leverage…
Cheer for Binance: Novogratz Endorses Crypto Exchange and CZ
• Mike Novogratz, the founder of Galaxy Digital Holdings, endorsed Binance and its CEO Changpeng Zhao (CZ) • US Department of Justice earlier this month made an announcement of charges against a crypto company, which had the cryptoverse speculating which exchange it could have been • Novogratz noted that Binance has a „giant percentage of the liquidity“ and that CZ has always been focused on customer service, so he believes that people need to cheer for the Binance and the success of CZ Crypto financial services firm Galaxy Digital Holdings‘ founder Michael Novogratz recently spoke to Real Vision Crypto about his opinion on the major crypto exchange Binance and its loyal retail following. With the US Department of Justice recently announcing charges against a crypto company, speculation arose as to which exchange this could be. Novogratz commented, „And I was like, please don’t have it be Binance. We need to…
Crypto Revolution Gaining Momentum: €1B Exchanged, Banks Lend Billions
• Bitzlato, a crypto exchange, exchanged around €1 billion ($1.086 billion) in assets linked to criminal activities. • SEBA Bank launched a multi-tiered membership program for institutional clients. • The US Federal Home Loan Banks System has lent billions of dollars to two of the largest crypto banks, Signature Bank and Silvergate Capital. Today in Crypto, a revolution is underway. Bitzlato, a crypto exchange, has reportedly exchanged around €1 billion ($1.086 billion) in assets linked to criminal activities. This news comes on the heels of a US charge against the exchange, which was quickly followed by an announcement from EU’s law enforcement agency Europol that targeting crypto exchanges is becoming a key priority in the battle against cybercrime. At the same time, SEBA Bank, a licensed digital assets bank, has launched a multi-tiered membership program for institutional clients. This program is designed to offer professional investors access to institutional-grade crypto…
Celo (CELO) Up 28% in a Week – Is It the Best Crypto to Buy Today?
• The cryptocurrency market is up 1% in 24 hours, with a total market cap of $1.03 trillion. • Celo (CELO) is down 5% today but is still up 28% in a week and 32% in a month. • Celo recently rebranded itself, with new partnerships with Web3 browser Opera and GoodDollar. The cryptocurrency market has seen a week of positive growth, with the total market cap rising by 1% in 24 hours to $1.03 trillion. This marks the sixth consecutive day of increases, with investors buoyed by the recent news of higher-than-expected US inflation figures. Despite the market’s overall gains, some altcoins have seen even better performance, posting higher returns than the market at large. One of these coins is Celo (CELO), which has seen a 28% increase in a week and a 32% increase in a month. CELO recently underwent a rebrand, focusing more on its green credentials…