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The layer-1 blockchain MultiversX (EGLD) is dominating the crypto gaming sector in terms of development activity, according to the analytics firm Santiment. Santiment notes that MultiversX, formerly known as Elrond, registered 228.73 notable GitHub events in the past 30 days. The Ethereum (ETH)-based virtual reality platform Decentraland (MANA) was second, clocking 195.03 events. Wrapped Nine Chronicles Gold (WNCG), the ERC-20 version of NCG, came in third, registering 110.37. NCG is the in-game currency for Nine Chronicles, a fully open-sourced online role-playing game (RPG) without servers. Source: Santiment/X Santiment notes that it doesn’t count routine updates and uses a “better methodology” to collect data for GitHub events based on a “backtested process.” The analytics firm has previously said that heavy development activity centered around a crypto project is a positive indication that could mean that the developers believe the protocol will be success...

According to the Shiba Inu (SHIB) burn rate tracker Shibburn, the project’s burn rate spiked by 139,103%. Source: Shibburn The data shows that 96.63 million SHIB tokens were incinerated in the last 24 hours, with one transaction burning over 96 million tokens. Also Read: Shiba Inu To Reach 5 Cents? Here’s When SHIB Could Hit $0.05 Factors Influencing SHIB’s Price and Burn Rate The sudden burn rate spike could be due to increased activity within the SHIB ecosystem. It could also be due to a low number of burns over the last few days and a sudden high token burn in the previous 24 hours. Will SHIB Hit $0.00002 Following the Burn Spike? Shiba Inu’s (SHIB) price has seldom rallied on token burns as the number of tokens destroyed is minuscule compared to the 589 trillion tokens in circulation. While the burn rate increased by more than 139,000% in 24 hours, the asset has rallied by only 0.2% in the same time frame. Also Read: Cryptocurrency Investor Loses $1 Million Trading Meme ...

A crypto analyst who nailed Bitcoin’s 2018 bottom six months in advance is turning bullish on Ethereum (ETH). The analyst pseudonymously known as Bluntz tells his 273,300 followers on the social media platform X that the low for Ethereum is potentially in now that ETH tagged its lowest level in six months in August. According to the trader, Ethereum is now on the verge of reclaiming a range with an upper boundary at around $2,850. Bluntz further says that Ethereum is exhibiting bullish divergence on the three-day time frame when paired with Bitcoin (BTC). A bullish divergence occurs when the price of an asset records lower highs while a momentum oscillator such as the Relative Strength Index (RSI) witnesses higher lows. Using Elliot Wave theory, it appears Bluntz is suggesting that Ethereum is forming a five-wave pattern on the four-hour time frame. Elliott Wave theory states that the main trend of an asset moves in a five-wave pattern while a correction occurs ...

In a landmark case, the first person in the UK has been charged with operating an unregistered cryptocurrency ATM. This development marks a significant step in the country’s crackdown on illicit digital asset operations. Landmark Charge Habibur Rahman, 37, from East Ham, London, has been charged with operating illegal crypto ATMs and laundering £300,000 in criminal cash. Rahman’s arrest follows a police raid on April 28, 2023, at the Gadcet shop located on Chatham’s High Street. During the search, several crypto ATMs were seized, including one prominently displayed to the public. According to Kent Police, Rahman’s charges stem from operating these ATMs without the necessary registration from the Financial Conduct Authority (FCA). Additionally, he is accused of converting criminal proceeds into cryptocurrency, a practice increasingly associated with money laundering and other illicit activities. Regulatory Response Crypto ATMs have been under intense s...

A widely followed crypto analyst is updating his outlook on Ethereum (ETH) competitor Solana (SOL) as the market chops around. In a new video update, crypto strategist Benjamin Cowen tells his 808,000 YouTube subscribers that Solana could plummet in value if a similar https://cdn.thebittimes.com/images/2024/08/29/c0ca925320dc3c7dc0254ef79fed95a1.webp9 market pattern plays out again. Looking at the TOTAL3 chart, which tracks the total market cap of crypto excluding Bitcoin (BTC), Ethereum and stablecoins, Cowen shows that alts rallied in https://cdn.thebittimes.com/images/2024/08/29/c0ca925320dc3c7dc0254ef79fed95a1.webp9 but then plummeted that same year when the Federal Reserve enacted a looser monetary policy. The Fed is now expected to cut interest rates next month after years of hikes. “[Altcoins] had a nice little rally, but they’re giving a lot of it back, which is exactly what happened in the last cycle. Altcoins rallied. They rallied a lot, and ...

Bitcoin’s market dip below $60,000 suggests short-term weakness, yet long-term investors remain optimistic, as evidenced by continued withdrawals from exchanges. The cryptocurrency is experiencing unpredictable and volatile movements within the $55,724 to $73,777 range. While the direction of the next breakout remains uncertain, long-term investors are maintaining a positive outlook. Data from CryptoQuant indicates that approximately 45,000 Bitcoins were withdrawn from exchanges on August 27, marking the third-largest outflow recorded. Beyond Bitcoin, investors are also focusing on accumulating Ether, despite the current lacklustre price movements. Notably, popular analyst Satoshi Sniper pointed out on X that Ether whales have acquired 200,000 Ether, valued at around $540 million, over the past four days. Crypto market data daily view. Source:  Coin360 However, Bloomberg Intelligence senior commodity strategist Mike McGlone suggested in his latest Anal...

Rune Christensen, co-founder of the recently rebranded Maker protocol, has clarified that there will be no “freeze function” added to the project’s new USDS stablecoin. “Actually there will be no freeze function at launch, there will just be an upgrade ability,” Christensen said in an Aug. 27 X post . With this upgrade ability, members of the project’s governance will be able to decide later how new functions will be implemented to protect against “as many risk factors as possible.” Crypto X Community Raises Centralization Concerns Christensen’s X post comes after the protocol faced backlash for a supposed “freeze function” in its new stablecoin. Some online observers also started to question the decentralization of the protocol. One X user that goes by the name “Tunez” asked his 155,000 followers whether the function would “completely defeat the purpose of the project.” maker is rebranding ...

2024 has been a standout year for Bitcoin , seeing the asset reach new all-time highs earlier this year. Over the past seven days, BTC surged by 3.11% and reached nearly $65,000 following a bearish August. Since its weekend climb though, the asset has fallen back down to $61,587.81, a 4% drop in 24 hours. Despite this tumble though, there is still strong optimism of a positive Bitcoin performance come September. Since Bitcoin reached its all-time high of over $73,000 in March, bulls have believed that the next possible target is $100,000. Several analysts have been suggesting that BTC could move beyond the $70,000 mark again very soon. Several believe that the world’s largest cryptocurrency will soon move towards $100,000, a new high. Reclaiming the $65,000 resistance remains a crucial first target for Bitcoin in the path towards $100,000. This is certainly possible in the coming months thanks to the growing influence of cryptocurrency. Crypto has become a top point of discussion among...

Falling in line with President Joe Biden’s tax plan, which would increase the capital gains tax to 44.6% and the unrealized gains tax to 25%, Vice President Kamala Harris vowed to support the plan if elected. If adopted, the tax plan would bring $5 trillion in revenue over the next decade, allowing the U.S. government to address the growing deficit and potentially start reducing the ever-increasing debt, which recently surpassed the $35 trillion mark. Who will be affected by Harris’s unrealized gains tax? It’s worth noting that Biden’s proposed 25% tax on unrealized gains would solely affect individual taxpayers with over $100 million in net assets. Picks for you Top 3 AI cryptocurrencies to buy ahead of Nvidia earnings 44 mins ago Kei...

The Floki price has surged 6% in the last 24 hours to trade at $0.0001529 as of 3:25 a.m. EST on a 17%  drop in trading volume to $228 million. Floki Price Breaks Out Of Consolidation- Can The Bulls Sustain The Momentum? The chart for the FLOKI/USD trading pair in a 4-hour timeframe exhibits several bullish signals. A significant pattern on the chart is the round bottom formation, which typically indicates a bullish reversal, suggesting that the price may have bottomed out and is trending upwards. Following this, the price action has moved into an ascending channel, characterized by higher highs and higher lows, further reinforcing the bullish sentiment. The price is currently trading within this channel, with the lower boundary acting as support and the upper boundary as a potential resistance, where traders might consider taking profits. FLOKIUSD Analysis Source: Dextools.io The moving averages provide additional confirmation of the bullish trend. The 50-period MA...

Telegram CEO Pavel Durov was arrested in France this Saturday, August 24. His arrest raised concerns about the messaging app’s future and related cryptocurrencies like the Toncoin (TON) from The Open Network. French authorities arrested Pavel Durov at the Bourget airport outside of Paris under allegations of facilitating criminal activities on Telegram. According to an SCMP report, Durov was under investigation due to a “lack of moderation” on the messaging app. He will face possible indictment today, which may affect Telegram and TON. Despite ongoing efforts to separate The Open Network brand from the messaging app, Toncoin surged mainly because of Telegram’s reputation, user base, and infrastructure. Therefore, growing uncertainties related to the future of the company could affect the market’s confidence in the cryptocurrency. Picks for you ...

The altcoin market looks promising, and many altcoins are recording gains. Bitcoin (BTC) is still struggling to return to its all-time high of $70K, hoping to find support for its next big move. Investors need to stay alert during this consolidation phase, as it could be a chance to catch a ride on a rising trend. Prices of these various assets are climbing, even before the market takes off entirely. That is why today’s article is dedicated to identifying the next cryptocurrencies to explode and inform investors and traders about each token. Next Cryptocurrency To Explode Smart investors are anticipating a boom in the altcoin market and taking positions in upcoming tokens like the Crypto All-Stars. The project aims to revolutionize the meme coin space with its groundbreaking MemeVault Ecosystem. This post covers the details of its presale. 1. Gala (GALA) Gala Games is a top crypto-gaming platform known for creating various games. Recently, they introduced GalaSwap, a decentr...