حنوووون

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The future trend of Solana's SOLUSD price will be decisive based on its movement this week. The technical analysis suggests that SOL has fallen within a descending parallel channel, reaching a low of $78 on January 23, 2024. Although it has since bounced back, the recent breakout has not seen significant growth. The daily RSI indicates that the bulls still have an advantage, but it has not confirmed the increase that is crucial for the future trend. Analysts are optimistic about the future SOL trend, with price predictions ranging from $150 to $140. However, the wave count and price action do not provide a clear direction for the trend. The reaction to the $100 resistance area will be crucial, as a breakout above $100 could lead to a 60% price increase, while a rejection could result in a 25% drop to complete wave four.

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SUI's recent price correction to $1.31 has found strong support, suggesting the potential for further gains. The rounding bottom pattern in the SUI/USD pair further indicates the possibility of a breakout towards $2.00. Additionally, the strong RSI, MACD, and CMF indicators all signal robust bullish momentum for the SUI market. With an uptrend in SUI, investors and traders are taking notice of the cryptocurrency's solid momentum, despite resistance at the $1.50 mark. Although the slight price correction caused some uncertainty, the dip to $1.31 and subsequent bounce back to $1.40 indicates continued buying interest. This correction could be viewed as a buying opportunity for investors to enter or add to their positions. Currently trading at $1.43, a surge of 3.19% from the intra-day low, SUI demonstrates potential for a significant breakout. The rounding bottom pattern suggests a target of $2.50, with a breach and closure above $1.50 serving as a catalyst for further growth. The RSI rating of 63.79 indicates strong bull momentum, while the MACD shift above its signal line and the positive CMF reading reinforce the bullish case for a potential rally. Investors should keep an eye on the RSI rating surpassing 70, which may indicate an overbought condition, as well as a potential reversal if the MACD shift reverses and falls below its signal line. The continuous inflow of money into the market, as evidenced by the positive CMF reading, further strengthens the argument for a potential bull rally in the SUI market.

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The surge in new Bitcoin addresses and the increased trading activity indicate a growing wave of investor interest in BTC. Many investors are taking advantage of the recent price dip, reflecting renewed confidence in the market. Despite fluctuations in value, Bitcoin has demonstrated resilience and experienced a notable increase in trading volume. These developments are viewed as positive signs for the overall health of the coin. Market participants will closely monitor the sustainability of the accumulation trend and its potential impact on Bitcoin's price in the coming weeks.

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Manta Pacific, the third-largest Layer 2 network by TVL, achieved this milestone due to two key factors. Firstly, their New Paradigm campaign introduced yield-bearing assets into their Layer 2 network, increasing interest and driving growth. Additionally, their token launch generated liquidity and volume on their native chain, further propelling them into the top three. Despite facing challenges such as a distributed denial of service attack, the project successfully navigated through it as a community and compensated users for increased transaction fees. Moving forward, Manta Pacific aims to become a zkEVM, combining zero-knowledge proof technology with Ethereum compatibility. The focus for Manta Network is on fostering ecosystem growth and supporting existing projects within their ecosystem.

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The Financial Stability Oversight Council (FSOC) has regained its power to designate companies as threats to the financial system, including those in the cryptocurrency sector. While there is currently no indication of any specific company being targeted, the FSOC has expressed concerns about stablecoins and their potential impact on financial stability. This has prompted congressional Republicans to raise questions about the council's intentions for the crypto industry and its desire to bypass Congress. However, it is unlikely that the FSOC will use its authority to designate a crypto firm as a systemic risk, as this requires evidence of significant magnitude. Moreover, the FSOC's track record has been called into question, with critics pointing out its failure to prevent previous financial crises. The council would also face scrutiny if it chose to target a crypto firm while not addressing giant U.S. asset managers. Republican lawmakers have cautioned the FSOC against overreach, indicating they will oppose any attempts to bypass Congress.

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According to crypto analyst Jelle, historical patterns suggest that February could be a bullish month for Bitcoin. This would bring relief to investors who experienced a bearish January. Jelle points out that when Bitcoin has closed the last four months of the year in the green, it has typically seen a bearish January followed by a bullish February. Last year, Bitcoin closed the last four months in the green, making it likely that February will follow suit. In fact, previous Februarys have seen significant gains for Bitcoin, such as 20% and 23%. Jelle also predicts that Bitcoin could rise to as high as $53,000 in the next significant upward movement, further supporting the idea of a bullish February. Additionally, crypto analyst Ali Martinez suggests that Bitcoin still has over 500 days of bullish momentum. Despite a recent price decline, Bitcoin whales have remained steadfast, with an increase in those holding 1,000 BTC or more. As of now, BTC is trading above $42,000, with a slight decrease of over 1% in the last 24 hours.

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Bitcoin remained around the $42,000 mark, with analysts suggesting that a surge above $50,000 could occur once it breaks the $43,000 level. According to Markus Thielen, Founder of 10x Research, the recent pullback constituted wave 4 of a bullish pattern that began in early 2023, with wave 5 expected to push prices towards $50,000. The decline in selling pressure from Grayscale Bitcoin Trust investors has also contributed to the positive outlook. Hong Kong's Securities and Futures Commission received its first bitcoin ETF application from Harvest Global Investments, following the approval of bitcoin ETFs by the SEC in the U.S. Venture Smart Financial Holdings is also planning to file a spot bitcoin ETF application. Jupiter, a Solana-based trading aggregator, settled over $500 million in trades within 24 hours, making it the largest trading platform. The wen meme coin issued by Jupiter developers saw significant trading volumes, and Jupiter's JUP tokens are set to be issued soon, with 40% of the total supply being airdropped to nearly 1 million Solana wallets.

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Max Keiser expresses his strong support for Bitcoin and criticizes altcoins like XRP, ADA, ETH, BNB, USDC, NFTs, and Ordinals, referring to them as s-coins. He believes that Bitcoin is the only legitimate cryptocurrency and that altcoins are unregistered securities. Keiser sets a new target of $50,000 for Bitcoin and attributes the recent sell-off to traders taking profits and selling Bitcoin to purchase spot Bitcoin ETFs. He also mentions a recent increase in interest in Bitcoin, as evidenced by the growing number of newly created Bitcoin wallets.

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Kaspersky, the renowned Russian security firm, has recently issued an important public warning regarding a new strain of malware that specifically targets Mac users and focuses on their cryptocurrency wallets. This malicious software infiltrates computers through counterfeit applications and establishes a backdoor specifically aimed at bitcoin wallets, including popular ones like Exodus. Once inside, it replaces these wallets with fraudulent versions, designed to extract the critical information necessary to drain the cryptocurrency assets stored within. This malware is particularly concerning due to its unique methods, such as utilizing DNS records to deliver its malicious scripts and replacing the original wallet application with an infected version. While the targeted wallets observed so far are Bitcoin Core and Exodus, it remains uncertain if other cryptocurrency wallet apps can also be affected. Therefore, it is crucial for Mac users to take extra precautions to protect their cryptocurrency wallets, such as avoiding downloading apps from unofficial sources and employing robust security software solutions.

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Learn about the latest developments in the crypto market as Cronos (CRO) and AAVE face shifting narratives, while Algotech (ALGT) emerges as a promising investment opportunity. With Cronos experiencing a significant drop of 18.95% in value and AAVE struggling despite proposed GHO stablecoin integration, investors are turning their attention to Algotech after its successful presale. While Cronos may still have long-term potential, short-term gains remain uncertain. AAVE's bearish sentiment and market cap reduction make it a less attractive option. In contrast, Algotech's impressive presale performance and its decentralized platform's income and dividend model make it a strong contender. By investing in ALGT, one can expect a substantial increase in portfolio value. Algotech's innovative algorithms and cutting-edge approaches position it as one of the best DeFi projects. Don't miss out on this opportunity and join the Algotech community. (Disclaimer: This article is sponsored and for informational purposes only. It does not reflect the views of Crypto Daily and should not be considered as legal, tax, investment, or financial advice.)

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According to JP Morgan, the chances of an Ethereum spot ETF gaining approval from the US SEC before May are unlikely, despite acknowledging the arguments favoring Ether's commodity classification. Although the approval for Bitcoin spot price indexed ETFs has heightened expectations, those eagerly anticipating an Ethereum ETF will have to remain patient for a little while longer.

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Terraform Labs, a crypto company, has filed for bankruptcy protection in the United States after the collapse of its TerraUSD and Luna stablecoins in 2022. The co-founders of the company, Do Kwon and Daniel Shin, are facing fraud charges. Despite the challenges faced, Terraform remains hopeful for a successful resolution of the legal proceedings. The collapse of TerraUSD and Luna stablecoins in May 2022 contributed to a broader crypto crash, resulting in a loss of over $40 billion in market capitalization. Terraform has listed its estimated assets and liabilities between $100 million and $500 million in its bankruptcy filing. Do Kwon's trial has been postponed until April, as he awaits extradition from Montenegro, after fleeing from South Korea following an arrest warrant. Daniel Shin was indicted by South Korea in April 2023.

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According to security researchers at Blockfence, a sophisticated coin scam operation has successfully stolen $32 million from over 42,000 victims through the creation of more than 1,300 scam crypto tokens since April. The operation follows an automated process, creating tokens that mimic the names of legitimate projects and introducing fake volume to attract traders. Once enough capital is drawn in, the scammers cash out the tokens and repeat the process. Despite appearing secure, the scammers have the ability to manipulate token holders, mint unlimited tokens, and fake the token's maximum supply. While it's uncertain whether the operation involves multiple individuals or just one, many aspects seem to be executed programmatically. Traders can protect themselves by avoiding sketchy tokens and only investing in assets they understand. Those willing to take risks should use multiple fraud detectors for added security.

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This week's GDP report in the United States and other key economic events will likely have an impact on the crypto markets. The retreat in crypto markets over the weekend can be attributed to the fading enthusiasm for Bitcoin ETFs and the ongoing correction. The Manufacturing PMI and Services PMI reports on Wednesday are important indicators of business conditions and the overall economic condition in the US, and they are expected to show a slight decrease. On Thursday, the quarterly gross domestic product report will be released, reflecting the nation's economic health. The expected growth rate for the fourth quarter is around 1.8%, following a 4.9% growth in the third quarter. Additionally, the Core PCE report on Friday will provide insights into consumer spending and inflation. While a positive economic outlook generally benefits cryptocurrencies, the market is currently experiencing a cooling period after a three-month rally, with most altcoins registering losses on Monday.

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Terraform Labs, the company behind TerraUSD and Luna, has filed for Chapter 11 bankruptcy in Delaware. With estimated liabilities and assets ranging from $100 million to $500 million, the filing aims to address ongoing legal matters, including a lawsuit from the SEC and pending litigation in Singapore. The CEO, Chris Amani, stated that this step will safeguard their ability to continue supporting the community in terms of infrastructure, innovative tools, products, and ecosystem development. Furthermore, the former CEO, Kwon Do-hyeong, who was charged with fraud by the SEC, awaits extradition following his arrest in Montenegro. The SEC trial against Terraform Labs and Kwon has been postponed to late March as requested by Kwon. This update includes additional details from the filing and Terraform Labs' statement.

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Nethermind, an Ethereum infrastructure provider, has swiftly addressed a critical bug in its minority execution client that caused invalid blocks. The bug, present in versions 1.23 to 1.25, prevented node operators from validating blocks, sparking calls for greater client diversity on Ethereum. While Nethermind currently holds just 8.2% market share compared to Geth's 84%, the incident highlights the systemic risk of relying on a single client. With the switch to proof-of-stake and the Merge, the Ethereum ecosystem must prioritize diversifying sequencers and execution layers to mitigate vulnerabilities. Fault tolerance and redundancy measures are crucial for blockchain networks seeking maximal security guarantees.

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OKX, a Web3 technology company, has integrated its wallet with SatoshiVM Bridge, connecting the EVM ecosystem with Bitcoin. This integration allows OKX Wallet users to access cross-chain transactions, trading, and earning opportunities. SatoshiVM Bridge brings advanced technology to the Bitcoin ecosystem, including a community-driven Bitcoin ZK Rollup Layer 2 solution and seamless connection between Bitcoin and EVM ecosystems. OKX provides a range of products, including a powerful crypto wallet, a decentralized exchange aggregator, an NFT marketplace, and a DeFi platform. OKX is known for partnering with top brands and athletes and recently launched a global brand campaign advocating for Web3 self-managed technology.

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JPMorgan has issued a warning about an impending bitcoin selloff, citing the anticipated $3 billion outflow from Grayscale's bitcoin fund. The bank suggests that this outflow will exert further downward pressure on bitcoin prices in the coming weeks. JPMorgan's analyst also explains that the $3 billion inflow into new spot bitcoin exchange-traded funds (ETFs) represents a shift from existing bitcoin vehicles or from retail investors moving from digital wallets to more cost-effective spot bitcoin ETFs. The recent decline in bitcoin price, which dropped after the launch of spot bitcoin ETFs, is attributed to profit-taking behavior following the approval of these funds. Furthermore, the analyst notes that the $1.5 billion outflow from Grayscale's GBTC fund has significantly impacted bitcoin prices. If the estimated $3 billion invested in GBTC proves accurate, with $1.5 billion already withdrawn, there may still be an additional $1.5 billion to exit the bitcoin market, further contributing to downward pressure on prices. Overall, Grayscale's bitcoin ETF has experienced an outflow of 50,106.59 BTC since January 12, amounting to over $2 billion. The analyst also highlights that other spot bitcoin ETFs, such as Blackrock's Ishares Bitcoin Trust and Fidelity's Wise Origin Bitcoin Fund, have attracted approximately $3 billion in inflows within just four days. This influx primarily reflects a shift from existing bitcoin vehicles or retail investors migrating from digital wallets to more affordable spot bitcoin ETFs.

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Terraform Labs, the company behind TerraUSD, has filed for Chapter 11 bankruptcy protection in the US. The Singapore-based company listed assets and liabilities ranging from $100-$500 million. They have stated their commitment to meeting financial obligations to employees and vendors without requiring additional financing, while also continuing their expansion of Web3 offerings. Terraform Labs aims to execute their business plan while navigating ongoing legal proceedings, including representative litigation in Singapore and US litigation involving the SEC. The SEC's civil case is connected to the collapse of TerraUSD and Luna, which caused significant disruption in the crypto markets in 2022. The trial has been postponed to enable the extradition of co-founder Do Kwon for his alleged involvement in a $40 billion cryptocurrency fraud. Both TerraUSD and Luna suffered major losses when TerraUSD failed to maintain its $1 peg in May 2022.

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Senator Saddam Azlan Salim of the United States is a strong supporter of cryptocurrency mining and recommends regulations that do not penalize miners solely based on the nature of their business. He believes that if an area permits manufacturing or industrial activities, crypto mining should be allowed as well. In December 2023, Marathon Digital achieved a significant milestone by mining 1,853 Bitcoins, and Bitcoin miners earned around $30 million in transaction fees within two weeks in November. While the upcoming Bitcoin halving in April raises questions about its impact on mining companies, crypto analyst Jason A. Williams believes it could potentially be positive for miners. However, there is a division among US politicians regarding Bitcoin mining's environmental impact, with some arguing against using it as a means to limit financial freedom. The US government has also been involved in auctioning off Bitcoin obtained from illicit activities on Silk Road.