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Solana (SOL) price rally could fizzle out due to weak fundamentals
Solana’s usage data and ecosystem development do not support the recent bullish rally, raising the probability of a SOL price correction. Market Analysis Own this piece of history Collect this article as an NFT Solana’s (SOL) recent 250% rally to $25 has shocked many investors in the crypto market. At the same time, traders who had eyes on the negative funding rate for SOL in the futures market could have anticipated the bullish move ahead of others. It’s because excessive negative funding rates, like the one in Solana displayed below, implies that the majority of traders are on the short side, providing an opportunity for buyers to run their stops. SOL funding rate for perpetual swaps. Source: Coinglass Regardless of the reason behind the price increase, if enough buyers are interested in...
The Legal Beat: Megan Thee Stallion’s Deposition Dispute – Plus Journey, Flo Rida & More
This is The Legal Beat, a weekly newsletter about music law from Billboard Pro, offering you a one-stop cheat sheet of big new cases, important rulings, and all the fun stuff in between. This week: A judge says Roc Nation CEO Desiree Perez must sit for a deposition in Megan Thee Stallion’s war with her record company, a member of Journey sues his longtime bandmate over allegations of lavish spending, Flo Rida wins an $82 million verdict against a beverage company, and much more. THE BIG STORY: To Depose Or Not To Depose When should a top executive be hauled into a deposition to answer questions in a lawsuit? It’s a difficult question. Make it too hard and you could insulate powerful people from the legal process; make it too easy and attorneys could use it as a form of gamesmanship in case...
Big winners from Biden’s climate law: Republicans who voted against it
The GOP is likely to find itself in an uncomfortable position as funding from the Inflation Reduction Act plays a growing role in Republicans home states and districts. | Godofredo A. Vásquez/AP Photo They didn’t vote for it, they don’t like it and they’re working to undermine it — but Republicans are reaping the benefits of Democrats’ climate law. In the five months since the Inflation Reduction Act became law, companies have announced tens of billions of dollars in renewable energy, battery and electric vehicle projects that will benefit from incentives in President Joe Biden’s signature law, aimed at expanding domestic manufacturing in clean energy and reducing dependence on Chinese imports. In fact, roughly two-thirds of the major projects are in districts whose Republican lawmakers op...
Crypto Price Forecast: Bitcoin (BTC), ApeCoin (APE) and Metacade (MCADE)
The start of a new year is always a good time to reflect on the past, and look forward to the future. Like so many, Bitcoin (BTC) and ApeCoin (APE) had a bumpy ride in 2022, and not just because of the FTX crash. Meanwhile, as the year ended, Metacade (MCADE) made a promising start to its presale. So, what is the crypto price forecast for these three popular investments? Read on for detailed predictions. What is Metacade (MCADE)? Metacade (MCADE) looks like it could take the GameFi industry by storm in 2023. With a superb selection of classic arcade and futuristic Web3 metaverse games, Metacade (MCADE) offers significant earning potential to blockchain gamers, developers and crypto enthusiasts across the scene. Available for a limited period at a very tempting presale price,...
Here Is How Metacade (MCADE) Could Make You a Fortune – The Best Gaming Crypto Project in 2023
As the dust settles on a rocky year for crypto in 2022, skilled investors are already assessing the market for a standout opportunity to make mind-blowing profits in 2023. While DeFi has taken a pummeling in light of so many problems, one area breaking the mold and showing much potential for the future is GameFi. One project, in particular, is making waves with its innovative approach to Web3-powered gaming, and so many of those looking for the best gaming crypto projects to invest in for 2023 are being drawn to Metacade. The Metacade presale is underway now and has turned many heads with its unparalleled success. The project’s presale has raised an unbelievable $3.2m in just 9 weeks as investors do everything they can to lock in the future profits that seem inevitable through owning the p...
Europol reports $19.5M in crypto seized in enforcement action against Bitzlato
The operation conducted by authorities across Europe and the U.S. resulted in the arrest of 5 individuals linked to the exchange, including Bitzlato founder Anatoly Legkodymov. News Own this piece of history Collect this article as an NFT The European Union Agency for Law Enforcement Cooperation, or Europol, has reported authorities took control of crypto wallets containing more than $19 million in cryptocurrency as part of enforcement actions against crypto firm Bitzlato. In a Jan. 23 announcement, Europol reported that roughly 46% of assets — 1 billion euro, or $1.09 billion at the time of publication — moved through Bitzlato were linked to illicit activities. The government agency’s analysis suggested that Bitzlato received more than 2.1 billion euro in cryptocurrencies including Bitcoi...
Bitcoin price stays near $23K as data shows hodlers not selling BTC
Seasoned Bitcoin market participants are anything but willing to take profit, even with the BTC price up 40% in January. Market Update Own this piece of history Collect this article as an NFT Bitcoin (BTC) refused to surrender gains at the Jan. 23 Wall Street open as United States equities opened higher. BTC/USD 1-hour candle chart (Bitstamp). Source: TradingView Dollar sags as risk assets reject retracement Data from Cointelegraph Markets Pro and TradingView showed BTC/USD continuing to circle $22,800 at the time of writing. The pair had managed to conserve its trading range over the weekend, with a local low of $22,315 allowing bulls to avoid a major setback. The mood remained buoyant among risk assets on the day, with the S&P 500 up 1.3% and Nasdaq Composite Index trading 2% higher....
Bitcoin miners’ worst days may have passed, but a few key hurdles remain
A handful of improving metrics show profit margins slowly improving for Bitcoin miners, but key areas of the sector remain under pressure. Market Analysis Own this piece of history Collect this article as an NFT Bitcoin’s mining industry has been relatively stable compared to the bearish price action and the tumultuous fallout of exchanges and lending companies. The network’s hashrate dipped slightly toward the end of 2022, primarily due to an unprecedented blizzard in the U.S., and has since recovered strongly to surpass its previous peak above 270 EH/s. It was particularly encouraging to see that the hashrate holding well above summer 2022 lows, despite the aftermath of FTX collapse. Bitcoin 7-day average hash rate. Source: Glassnode However, despite the recent robustness in a vari...
Ethereum devs create ‘shadow fork’ to test conditions for Ether withdrawals
Developers are attempting to attack the forked testnet with malicious nodes to see if they can find vulnerabilities. News Own this piece of history Collect this article as an NFT As the proposed date for the Ethereum Shanghai update draws closer, developers have created a testing environment called a “shadow fork,” according to a Jan. 23 tweet thread by Go-Ethereum developer Marius Van Der Wijden. The new testnet appears to have been created in order to test the conditions needed for Ether (ETH) staking withdrawals, which are currently disabled but are intended to become enabled in the update. Withdrawal-Mainnet-Shadow-Fork-1 is finalizing It started out with a few issues because the config wasn’t correctly applied on geth (we disallow overriding the mainnet config). The config is ap...
Ticketmaster Plans to Blame Scalpers for Taylor Swift Debacle at Senate Hearing
Don’t expect Live Nation’s Joe Berchtold to be quoting Taylor Swift’s “Anti-Hero” during Tuesday’s Senate Judiciary Committee hearing on ticketing. Unlike the pop star’s “I’m the problem it’s me” chorus-turned-meme, the company’s president and CFO plans to take aim at who he says are the real culprits behind Swift’s disastrous Nov. 15 presale: scalpers. While the Live Nation-owned Ticketmaster was villainized for weeks following the presale for Swift’s upcoming The Eras Tour that both broke single-day sales records and threw fans into a fury over service issues, according to a prepared opening statement reviewed by Billboard, Berchtold plans to lay much of the blame on scalpers who used illegal bots to attack the online sale. The statement — to be delivered Tuesday (Jan. 24) in Washington,...
SEC charges Mango Markets exploiter for allegedly stealing $116M in crypto
The SEC has accused Avraham Eisenberg of manipulating the Mango Markets platform by manipulating the MNGO token, which the company allegedly sold as a security. Breaking news Own this piece of history Collect this article as an NFT The United States Securities and Exchange Commission has followed the Commodity Futures Trading Commission and others in filing parallel charges against the crypto user allegedly behind a multimillion-dollar exploit of decentralized exchange Mango Markets. In a Jan. 20 notice, the SEC alleged Avraham Eisenberg manipulated Mango Markets’ MNGO governance token, allowing him to steal roughly $116 million worth of cryptocurrency from the platform. According to the complaint, Eisenberg allegedly executed a series of large MNGO purchases in order to artificially raise...
Binance SWIFT banking partner set to ban USD transfers below $100K
Binance stressed that credit and debit card payments will continue to be accepted and that non-USD bank transfers would still be processed through the SWIFT payment system. News Own this piece of history Collect this article as an NFT Binance has informed its retail customer base of a potential incoming service disruption that may halt on and off-ramp bank payment transfers. The service disruption will impact users of U.S Dollar-held bank accounts that are looking to buy or sell cryptocurrencies for less than $100,000 via the SWIFT payment system. The disruption will take effect on Feb. 1. Binance announced the news to its “Binancians” by email on Jan. 21, stressing that they’re now “actively seeking” a new SWIFT (USD) partner to avoid service disruptions for future bank payment transfers....
