Key TakeawaysBitcoin has softened fallen from $30,000 to close to $28,000Our head of research looks into the data, arguing the move should not be a surpriseBitcoin’s fixed supply and lack of dividends or earnings means price is entirely demand-drivenThin liquidity in the Bitcoin market exaggerates every move, with 45% of stablecoins leaving exchanges in the last 4 monthsCorrelation with stocks remains high, with high UK inflation creating pause for thoughtMarket has also peeled back slightly on forecasts for interest rate cuts, and Bitcoin has followedI have lost count of the number of times I’ve been asked “Why is <a href="https://coinjournal.net/bitcoin/">Bitcoin</a> going up?”, or “what is driving this Bitcoin sell-off?”. For many assets, it’s clear as day as to what is driving the price action over any given trading period. Earnings forecast missed by 10%? Hello, red candle. Warren Buffett announced a mass purchase of your stock? Buckle in; we’re heading north. For Bitcoin, it’s a little tougher. There are no dividends or dividend forecasts; Bitcoin pays no yield. Nor are there earnings. Additionally, the supply doesn’t waver, instead it follows a pre-determined schedule set by Satoshi Nakamoto in October 2008, governing it block by block in ten-minute intervals. With the supply set in stone and out of the picture, and the absence of any periodic yield/forecasts derived from dividends or earnings, this means that the Bitcoin price is all about demand. And that is very difficult to predict. <em>Bitcoin gonna Bitcoin, </em>is often about the best reasoning that can be given. But there are factors we can assess. One is liquidity, which I touched on in a recent <a href="https://coinjournal.net/news/bitcoin-price-volatility-and-profits-are-all-the-highest-since-june-2022-but-why-and-will-it-continue/">deep dive</a> as Bitcoin surged beyond $30,000 for the first time in ten months. Order book liquidity is as thin as it has been in a year, while overall capital has fled the crypto space at large. Take a look at the balance of stablecoins on exchanges:That is 45% of the stablecoin balance taking the exit door in the last four months, the balance as low as it has been since October 2021. With Bitcoin already uber-volatile (VIX metric blows that of any “normal” asset out of the water), this amps up its propensity for violent moves even further. In simple terms, thinner liquidity means it takes less action to move the price. Why is the Bitcoin price currently falling?So, it is often difficult to ascertain why Bitcoin is moving, as this thin liquidity and capricious demand combine to make it very sensitive. But sometimes, we can make educated guesses as to what moves Bitcoin on any given day. This is one of those moments. Macro conditions have long been the key for Bitcoin. Again, a little chart to show this:Despite some temporary optimism that Bitcoin was decoupling as investors fled a collapsing (fiat) bakning system for the safe haven that is Bitcoin, the orange coin is very much moving in tandem with high-risk assets, such as tech stocks listed on the Nasdaq.I wrote a <a href="https://coinjournal.net/news/no-bitcoin-is-still-as-correlated-as-ever-with-the-stock-market-a-deep-dive/">deep dive</a> at the time of the banking crisis as to why Bitcoin’s dip in correlation with stocks was just a temporary blip. Looking at the data, it appears to have <a href="https://coinjournal.net/news/bitcoin-correlation-with-stocks-rises-again-normal-service-resumed/">come back up</a>.Lot of chatter about what is driving this massive Bitcoin rally.Spoke with <a href="https://twitter.com/CNBC?ref_src=twsrc%5Etfw">@CNBC</a> last night about whether it's stemming from interest rate forecasts or if investors are betting on Bitcoin as an alternative to the banking turmoil👇 <a href="https://t.co/o45zOOPiiw">pic.twitter.com/o45zOOPiiw</a>— Dan Ashmore (@DanniiAshmore) <a href="https://twitter.com/DanniiAshmore/status/1638175918123548675?ref_src=twsrc%5Etfw">March 21, 2023</a>And looking at wider financial…

Hong Kong has received a massive boost in its bid to overtake Singapore to become the world’s leading crypto hub. The government hit crypto market news headlines with its plans to let retail investors in Hong Kong City trade digital tokens such as Bitcoin and Ether. Also, this follows hot on the heels of the crypto market news that more than 20 crypto companies are outlining their intentions to move operations to Hong Kong in response to increasing levels of regulation from US authorities.Market analysts are speculating whether this huge crypto investment in Hong Kong could push the token sales of the pioneering GameFi platform, <a href="https://metacade.co/en?utm_source=media&utm_medium=artc&utm_campaign=coinjournal&utm_term=internal&utm_content=41">Metacade</a>, even higher after successfully listing its new token MCADE on Uniswap earlier this month. Bitmart and MEXC are due to list MCADE in the next few weeks, which begs the question, just how high can MCADE go?How high can MCADE go in 2023?Crypto market news outlets were captured when the MCADE token presale raised $16.35 million in record time. Also noteworthy, MCADE listed on Uniswap at $0.022 after its beta presale phase started at just $0.008, providing significant returns for early investors. Experts believe that MCADE will continue to make ground as it reaches a broader audience through its imminent listings on Bitsmart and MEXC, respectively, during April and May 2023.In addition, Metacade has just announced an exciting partnership with MetaStudio, which, in combination with the platform’s exciting road map, extensive token utility, and transition toward becoming a decentralized autonomous organization (DAO) already in motion, looks set to push MCADE beyond the $0.50 barrier by the end of 2023. Reaching these potential price targets would represent gains of more than 20x for investors purchasing tokens in the early stages of its public listings.What is Metacade?<a href="https://metacade.co/en?utm_source=media&utm_medium=artc&utm_campaign=coinjournal&utm_term=internal&utm_content=41">Metacade</a> has made no secret of its ambitions to be a leading light in revolutionizing the GameFi landscape by building the world’s largest play-to-earn (P2E) gaming arcade, allowing users to earn while pursuing their passion for gaming. To achieve this, Metacade will create a thriving community of gaming enthusiasts, developers, and crypto fans while catering to a vast range of gaming interests to maximize the platform’s total addressable market (TAM).To this end, Metacade has set itself the task of building the world’s largest selection of gaming titles to help the project gain greater recognition within the crypto mainstream and grow its user base. To use Metacade, all users will require the MCADE token to access the platform’s various features while delivering outstanding utility to coin holders. This utility is a significant reason for building excitement regarding the platform, making it such an exciting crypto investment opportunity that it is making headlines among crypto market news outlets.Metacade’s <a href="https://metacade.co/whitepaper.pdf">whitepaper</a> has gained plenty of praise from GameFi experts thanks to its comprehensive project plans, which underline the outstanding decision-making skills provided by the expert and verified Metacade project team. Part of the strategic plan that makes MCADE such an enticing crypto investment is the devolution of power to the community, which will see Metacade become a DAO by the end of 2024.This community-led governance will add value to MCADE, which already has plenty of utility inbuilt, such as that provided by the platform’s comprehensive rewards system that goes beyond the norm in the GameFi sector. For example, users will be incentivized to build community by receiving rewards for posting social content, such as game reviews, to the platform.How does MCADE work?The native MCADE coin is the currency to drive Metacade’s ecosystem, from powering the rewards system to providing…

The MiCA Act was first introduced in 2020.The European Parliament had previously postponed voting on legislation two consecutive times.The MiCA act now awaits approval from the European Council to be published as an effective regulation.After two consecutive vote postponements since the Markets in Crypto-Assets Act, known as MiCA was introduced in 2020, the European Parliament has now voted to adopt the legislation. The legislation will now move to the next step which is approved by the European Council before being adopted as law.MiCA’s rapporteur and the Member of the European Parliament posted a tweet immediately after the voting On April 20 reporting that the bill has been adopted:Habemus MiCA! Das EU-Parlament hat die #Regulierung angenommen. Ein Meilenstein für die #Krypto-Asset-Industrie. Danke an alle Kollegen und auch für den ganzen Support der Community hier! #MiCA 🎉 @btcecho @DECointelegraph pic.twitter.com/avPmOE2Vl0— Stefan Berger (@DrStefanBerger) April 20, 2023Harmonized European crypto rulesThe European policymakers aim at using the MiCA legislation to set a standard regulation for harmonized crypto rules and provide legal certainty for crypto assets in the EU.The legislation provides guidelines for the operation, structure and governance of digital assets issuers. It will also offer rules on disclosure and transparency requirements for issuing and trading cryptocurrencies.However, while MiCA is seen as a huge step toward crypto regulation in the EU, there are still a number of issues that some crypto players do not agree with in the 400-page document. For instance, the current draft does not mention decentralized finance (DeFi), crypto lending, or crypto staking, and does not provide any rules for nonfungible tokens (NFTs).The head of EU policy at Chainalysis recently pointed out that the success of MiCA would depend on the reworking of certain parts of the document and robust feedback from players. Others like Caisse des Dépôts Group’s blockchain program director Nadia Filali stressed on the importance of regulators, governments, and industry participants collaborating to develop the rules.The EU officials however emphasize that the safety of crypto investors is the main aim of MiCA.The post European Parliament finally adopts the Markets in Crypto-Assets Act, MiCA appeared first on CoinJournal.

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Riot Platforms stock has dropped by over 20% from the YTD high.This decline has happened because of the BTC price dip.Riot Platforms (NASDAQ: RIOT) stock price has drifted downwards in the past few days as Bitcoin and other cryptocurrencies retreated. The shares retreated to a low of $11.48 in the pre-market session. This means that the stock has dropped by more than 20% from the year-to-date high, meaning that it has moved to a bear market.Is it safe to buy the dip?Riot Blockchain is one of the biggest Bitcoin mining companies in the world. It competes with the likes of Argo Blockchain and Marathon Digital among others. Therefore, as in the other mining industry, these companies have a close correlation with the price of the underlying asset.This explains why the Riot Platforms stock price has jumped sharply this year. Between the lowest point in 2022 and the year-to-date high, RIOT shares were up by more than 338%, making it one of the best-performing stocks in the market.Therefore, to predict whether the Riot Blockchain stock price will bounce back, we need to understand why Bitcoin is falling and whether it will bounce back soon. As I wrote in this article, the main reason for the crash is that bullish liquidations have jumped in the past two days.Liquidations happen when brokers and exchanges forcefully close positions of leveraged positions. Therefore, this usually puts prices under pressure.Another reason why this happened is that Bitcoin recently rose above the key resistance level at $30,000. Historically, cryptocurrencies tend to be a bit volatile when they move above or below a key support or resistance level. The other reason is that several regional banks, including Western Alliance Bancorp, published strong results. Its inflows rose by more than $3 billion. As such, the risks of a banking crisis seens like they have been minimized. In a note, analysts at Bernstein said:“Any potential dislocation, whether on the bank’s credit side, or on the sovereign side …positions bitcoin perfectly as a safe-haven asset alongside gold.”Therefore, there is a likelihood that Bitcoin price will bounce back in the coming months as the Fed starts to pivot.Riot Platforms stock price forecastMediaThe daily chart shows that the RIOT share price formed a shooting star pattern on Wednesday. In technical analysis, this pattern is usually a bearish sign. The stock has jumped by more than 25-day and 50-day exponential moving averages. It remains slightly above the key support level at $10.53, the highest level on 11th August. Therefore, I suspect that the shares will drop to the key support at $10.53. The stock will then resume the bullish trend as buyers target the year-to-date high of $14.51.How to buy BitcoineToroeToro offers a wide range of cryptos, such as Bitcoin, XRP and others, alongside crypto/fiat and crypto/crypto pairs. eToro users can connect with, learn from, and copy or get copied by other users.Buy BTC with eToro today Disclaimer PublicPublic is an investing platform that allows you to invest stocks, ETFs, crypto, and alternative assets like fine art and collectibles—all in one place.Buy BTC with Public today Disclaimer The post Riot Platforms stock has moved to a bear market: buy the dip? appeared first on CoinJournal.

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Alexey Pertsev is the developer of the banned Tornado Cash platform.Pertsev was arrested by Dutch officials in August 2022Previously, a Dutch court had ruled to detain Pertsev until his next hearing in late April.Tornado Cash (TORN) price is up 15% after a Dutch judge ruled to release Alexey Pertsev, the developer of the mixing service Tornado Cash.Despite Tornado Cash being banned, its native token TORN has been performing quite well recently. The token has appreciated by over 30% in the last seven days.Alexey Pertsev arrest and detentionDutch authorities arrested Alexey Pertsev in August 2022 almost immediately after the United States Treasury Department sanctioned Tornado Cash.The US Treasury Department alleged that several hacker groups including North Korean state-backed Lazarus Group used the crypto mixer to launder stolen assets. It asserted that hackers laundered over $7 billion worth of cryptocurrencies since 2019 including the $80 million stolen from the Ethereum-based stablecoin protocol Beanstalk Farms in April 2022.However, the Tornado Cash ban attracted criticism from several players including from crypto advocacy organization Coin Center which filed a legal complaint in October 2022, asserting that the Treasury was overstepping its power with the sanctions targeting crypto investors in the US. Coinbase also recently backed a lawsuit by six complaints against Tornado Cash.Two months ago, a Dutch court ruled to keep Alexey Pertsev detained until his next hearing later in April although that has now changed after a judge ruled that he would be released though under strict conditions.The post Tornado Cash’s TORN takes a ride after developer Alexey Pertsev release news appeared first on CoinJournal.

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Dogecoin is in green today because April 20th is ‘Doge Day’.The meme coin’s technicals indicate bullish momentum.Billionaire CEO Elon Musk continues to support Dogecoin.Cryptocurrencies at large haven’t done all so well over the past 24 hours. But there’s one that seems to be bucking the trend – and that’s Dogecoin.Dogecoin technicals indicate upward momentumDogecoin is in the green this morning as April 20th – the “Doge Day” influenced the overall investor sentiment.Nonetheless, a brief look at the technicals indicate that there may be more upside to unravel in this meme coin moving forward.To begin with, Dogecoin has just had its 30-day moving average climb above the 200-day that typically signals bullish momentum. On top of that, its RSI or the Relative Strength Index has crossed 60 suggesting a further increase in price is likely.Year-to-date, Dogecoin is up roughly 30% at writing.Elon Musk continues to support DogecoinAnother potential reason to own Dogecoin continues to be the support it consistently receives from Elon Musk. Remember that the billionaire recently partnered Twitter with eToro to enable crypto trading on the platform.More importantly, it could be a significant tailwind for the meme coin if it ends up finding a spot in the digital payments plans that Twitter disclosed in January.Earlier this month, Musk also replaced Twitter’s iconic bird logo with a picture of the Shiba Inu dog that stimulated a debate around his plans for Dogecoin.Could today – the “Doge Day” be the day that he reveals any such plans? That remains to be known for now!The post Dogecoin gains as ‘Doge Day’ helps sentiment: buy into the strength? appeared first on CoinJournal.

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Key takeawaysDigiToads is a web3 P2E (Play-to-Earn) game where players can collect, nurture, and battle unique DigiToads.TOADS features makes it one of the ERC20 tokens investors in the crypto space could consider.Other coins investors could look to take advantage of include Ether, MakerDAO, Uniswap, Sushiswap, and AAVE. The cryptocurrency market has seen remarkable growth lately, resulting in the emergence of numerous new projects. However, DigiToads (TOADS) stands out among the rest as a unique and promising investment opportunity. With its deflationary token structure, P2E gaming, NFTs, NFT staking, meme coin status, and environmental focus, DigiToads could serve as an attractive investment prospect for both crypto enthusiasts and investors. This article discusses why DigiToads could be a good ERC20 token to purchase currently, particularly for beginners in the cryptocurrency market. Additionally, six other investment options are suggested for investors who want to grow their portfolios.Top ERC20 tokens to invest in today<a href="https://digitoads.me/cjl">DigiToads</a>DigiToads has a distinctive characteristic that makes it a desirable investment – its deflationary nature. This feature leads to a gradual reduction in the total supply of TOADS tokens, thus increasing the potential for higher token value over time as demand grows. The deflationary mechanism will continue to benefit long-term holders as more people join the DigiToads ecosystem. The web3 P2E game offered by <a href="https://digitoads.me/cjl">DigiToads</a> is another enticing aspect, allowing players to acquire and battle unique digital creatures known as DigiToads. Players can enhance their DigiToads’ abilities and compete against others for rewards using TOADS tokens. This P2E gaming feature offers entertainment and potential monetary rewards for the top 25% of players on the leaderboard.DigiToads makes the most of the increasing popularity of NFTs (Non-fungible tokens). NFT staking is available within the DigiToads ecosystem, with 2% of each TOADS transaction contributed to the staking pool. This ensures that DigiToad community members are continuously rewarded for their involvement. DigiToads is also a meme coin, intending to follow in the footsteps of successful projects such as Dogecoin, Shiba Inu, and Dogelon Mars. DigiToads’ potential for significant price increases and strong community backing makes it an exciting investment opportunity for those looking to enter the meme coin world.DigiToads hosts monthly trading competitions that award Platinum Toads as prizes. These rare NFTs grant remote access to 1/12 of the TOADS treasury, allowing the best community traders to manage the funds. This unique feature empowers the community and guarantees continued growth within the ecosystem. Additionally, DigiToads commits 2.5% of its profits to charities dedicated to reforestation and rainforest preservation. This environmental focus sets DigiToads apart from other crypto projects and appeals to investors who value social responsibility.The DigiToads presale offers a great entry point for investors, with over $1,500,000 already raised. The presale provides significant growth potential, and major coins are accepted as payment. The project’s team is fully transparent, with no vesting period, ensuring easy access and transparency for investors.<a href="https://digitoads.me/cjl">>> Buy DigiToads Now <<</a>Ethereum (ETH)Ethereum is a decentralized blockchain platform that enables the creation and deployment of smart contracts and decentralized applications. Since its launch in 2015 by Vitalik Buterin, Ethereum has become one of the most widely used and popular blockchain networks.A significant change to Ethereum’s network occurred in September 2021, when it switched from a proof-of-work consensus mechanism to a proof-of-stake mechanism. This change aimed to make the network more scalable, secure, and energy-efficient.Users can easily interact with Ethereum’s network by connecting to their preferred wallets. They can…

Dogecoin is unable to break above the $0.1 resistance levelIt failed to rally in 2023If Bitcoin gives up some of its 2023 gains, Dogecoin should retest the lowsDogecoin is the 9th cryptocurrency in terms of market capitalization, and it had quite a day yesterday. It jumped 5% as Elon Musk, CEO of Tesla and SpaceX, tweeted that the Starship launch may take place on Doge Day.But that spike was not enough for a sustained bullish run. In fact, Dogecoin is down over 8% in the last 24h, as the $0.1 level still provides stiff resistance.So what to expect from Dogecoin price moving forward? What does technical analysis say?MediaDogecoin chart by TradingViewDogecoin remains bearish while below $0.1Dogecoin price soared 23,000% in 2021 in what appeared to be a rally that will never stop. But the market formed a contracting triangle that acted as a reversal pattern.By the end of the same year, Dogecoin had given up most of its gains. However, as it turned out to be, it was only the beginning of a bear market that lasted into 2022 and beyond.Since the start of 2023, leading cryptocurrencies like Bitcoin saw their price surging. Unfortunately, it was not the case with Dogecoin, which still finds stiff resistance at $0.1.Therefore, while below resistance, the bias remains bearish. What if Bitcoin corrects from the 2023 highs? If it does so, then Dogecoin will eye a new test at the all-important $0.05 support level.The post Dogecoin price prediction amid a new rejection at $0.1 appeared first on CoinJournal.

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Key TakeawaysOnly 15% of ETH is on exchanges, the lowest number in 5 years Drop has been swift since staking opened up in late 2020Bitcoin and stablecoins have also fled exchanges, meaning liqudiity is thinVolatility has risen as a result, with aggressive moves to the downside also possible, despite bullish first quarter for market as a whole<a href="https://coinjournal.net/ethereum/">Ethereum</a> has had an eventful few years. Obviously, it was tossed around violently in line with the rest of the crypto market. Bouncing around the $100 or $200 levels for a lot of 2018 to 2020, it suddenly thrust upwards during the pandemic, getting close to $5,0000 in late 2021 before crashing back down below $1,000. Crypto is fleeing exchangesWhile price is all there is to talk about for the vast majority of crypto projects,  I don’t want to focus on that here. Let’s look at the supply of ETH on the market.I published a <a href="https://coinjournal.net/news/45-of-stablecoin-balance-has-left-crypto-exchanges-in-4-months-but-where-has-all-the-money-gone-a-deep-dive/">deep dive</a> recently looking at how capital has fled the crypto markets at large, with 45% of the stablecoin balance on exchanges exiting in the last four months, the toal balance now the lowest since October 2021. This pattern is being followed with cryptocurrencies across the board. Bitcoin has only <a href="https://coinjournal.net/news/least-amount-of-bitcoin-on-exchanges-since-the-previous-bull-market-top-in-december-2017/">11.8% of its supply</a> on exchanges, the lowest since the bull market top five years ago. Looking at Ethereum, there has been a rapid decline in the supply on exchanges, now the lowest in 5 years at 18.1 million ETH. Or, looking at the percentage of the total supply, there is now only 15% of ETH on exchanges. Ethereum staking could change all thisWith Ethereum, however, there is an elephant in the room. Namely, the ETH staking contract that was opened up in November 2020. This allowed users to lock up their ETH in anticipation of the Merge, Ethereum’s transition to a proof-of-stake network, which eventually went live last September. Stakers only got access to their tokens last week, however, as the Shanghai upgrade went live. And when you plot the amount of ETH locked up in the staking contract compared to the ETH on exchanges, it is a clear factor. Nonetheless, that ETH is now live again. Or at least, stakers can choose to withdraw it if they like. The early diagnosis is that there hasn’t been any extra selling pressure, with ETH <a href="https://coinjournal.net/news/ethereum-breaks-2000-as-shanghai-upgrade-completes-leads-crypto-market/">leading the crypto market</a> post-Shanghai and breaking past the $2,000 barrier for the first time since May 2022, the month the infamous UST collapsed and sent the crypto market into a tailspin. Lack of supply ramping up volatilityThe thin amount of ETH on exchanges, in addition to the sparse amount of Bitcoin and stablecoins, is kicking up crypto volatility so much higher. This is part of the reason that the market has bounced so sharply in the first quarter of the year. The more optimistic forecast on the Federal Reserve’s interest policy provided the impetus, and with so little capital in the market, it hasn’t been hard to move prices. At the end of the day, a price is just a bid finding an ask. And with much fewer bids and asks out there, it’s easy to see why prices have been so sensitive. It is tempting to conclude that the stingy supply is bullish for holders of these coins (and in the short-term, while the market is rising, it is – as we have seen with prices so easy to move recently). But on a bigger picture, this is not a good thing. Firstly, the opposite is also true – thin liquidity exacerbates moves to the downside as well as the upside, so if the market turns, there is far less to absorb the selling pressure, meaning the surge we have seen in the past couple of months can be reversed easier than normal.But overall, crypto needs liquidity. The asset…

Polymesh Network yesterday announced that Binance has become a node operator.The price of POLYX has been skyrocketing since the news broke.At press time, POLYX was trading at $0.2493, up 15.82% in the last 24 hours.Polymesh price has been surging since yesterday night after Polymesh Network announced that Binance had become a node operator on its layer 1 blockchain.POLYX price surged to a daily high of $0.3013 a few hours after the announcement setting in place a Bull Run despite the fact that the token has since retraced to its current price.What Binance becoming a node operator meansBinance is currently the world’s largest cryptocurrency exchange by trading volume. After becoming a Polymesh Network node operator, POLYX holders will be able to stake their tokens through Binance by the end of the week.The exchange joins Polymesh’s 17 existing node operators.As a node operator, Binance will help in running the Polymesh blockchain, certifying transactions before adding the new blocks on the blockchain. It will directly provide staking services to POLYX holders letting them reap rewards on their tokens.Graeme Moore, the head of tokenization at Polymesh, in a press release on Thursday while announcing the partnership with Binance said:“Onboarding Binance as the newest node operator provides Polymesh with a massive boost in visibility, credibility, and security.”According to Polymesh’s leadership, the aim of Binance’s partnership is to advance Polymesh’s mission of making regulated asset trading more accessible to more clients.The post Polymesh price trending after onboarding Binance as node operator appeared first on CoinJournal.

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<a href="https://coinjournal.net/bitcoin/">Bitcoin</a> price has pulled back in the past few days as the recent bullish momentum faded. The shake-up has seen the coin retreat in the past three straight days to reach a low of April 9. This decline led to a sharp decline in other coins. In this crypto price prediction, we will focus on The Graph (GRT), Toncoin (TON), and BitTorrent (BTT)The Graph price prediction<a href="https://coinjournal.net/the-graph/">The Graph’s</a> GRT price jumped to a high of $0.23 in February as traction of AI tokens jumped. It has now pulled back in the past few months as it fell by more than 37%. This week, GRT dropped below the key resistance point at $0.1586, the highest point on August 8 of this year.The Graph has moved slightly below the 25-day and 50-day exponential moving averages while the MACD has moved slightly below the neutral point at zero. A closer look shows that it has formed a small triple-top pattern, which is usually a bearish sign. The neckline of this pattern is at $0.1044.Therefore, the outlook of the token is bearish, with the next key support level to watch being at the $0.1044, which is about 26% below the current level. On the flip side, a move above the key resistance point at $0.17 will signal that there are more buyers, which will push it to the next resistance point at $0.2315.<a href="https://media.igms.io/2023/03/21/1682080451931-0de77f5b-d6b1-4793-a70d-8479370b93fa.png">Media</a>How to buy The Graph tokeneToroeToro offers a wide range of cryptos, such as Bitcoin, XRP and others, alongside crypto/fiat and crypto/crypto pairs. eToro users can connect with, learn from, and copy or get copied by other users.<a href="/visit/etoro-crypto?guid=MTM3MTI3&component=simple-table&language=en&country=US&position=1&totalPositions=2">Buy GRT with eToro today</a> Disclaimer PublicPublic is an investing platform that allows you to invest stocks, ETFs, crypto, and alternative assets like fine art and collectibles—all in one place.<a href="/visit/public-crypto?guid=MTM3MTI3&component=simple-table&language=en&country=US&position=2&totalPositions=2">Buy GRT with Public today</a> Disclaimer Toncoin price predictionToncoin is a cryptocurrency that was created by Telegram, the giant social media company. On the four-hour chart, we see that the TON price has been in a bullish trend in the past few weeks. Along the way, it has formed an ascending channel that is shown in green. It is between this ascending channel. Toncoin has moved to the 25-period moving average while the MACD has moved below the neutral point. Therefore, there is a likelihood that the coin will remain in this range during the weekend. The key support and resistance points to watch will be at $2.20 and $2.37, respectively.<a href="https://media.igms.io/2023/03/21/1682080451806-f8a6c28a-a872-4148-b91a-ae997a34237c.png">Media</a>How to buy TonAs TON is such a new asset, it's yet to be listed on major exchanges. You can still purchase TON using a DEX (decentralised exchange) though, which just means there are a few extra steps. To buy TON right now, follow these steps:1. Buy ETH on a regulated exchange or broker, like <a href="/visit/etoro-crypto?guid=MTM3MTI3&component=news-table-1inch">eToro ›</a>We suggest <a href="/visit/etoro-crypto?guid=MTM3MTI3&component=news-table-1inch">eToro</a> because it's one of the world's leading multi-asset trading platforms, an exchange and wallet all-in-one with some of the lowest fees in the industry. It's also beginner-friendly, and has more payment methods available to users than any other available service.2. Send your ETH to a compatible wallet like Trust Wallet or MetaMaskYou'll need to create your wallet, grab your address, and send your coins there.3. Connect your wallet to the 1Inch DEXHead to 1Inch, and 'connect' your wallet to it.4. You can now swap your ETH for TONNow that you're connected, you'll be able to swap for 100s of coins including TON.BitTorrent price predictionBitTorrent price jumped sharply this week and then quickly…

The European Parliament’s approval of the Markets in Crypto Act, MiCA regulation continues to be hailed as a watershed moment for the crypto space, particularly for <a href="https://coinjournal.net/news/tag/europe/">Europe</a>.Commenting on the development, Philipp Pieper, co-founder of Swarm, a regulated DeFi platform that’s a member of Germany’s Digital Finance Forum, says the legislation is a new beginning for crypto.“<em>A new era for global crypto has begun and Europe, for a change, has just become the leading innovator in the industry</em>,” the <a href="https://swarm.com/">Swarm</a> co-founder noted in a statement shared with CoinJournal. MiCA creates clear and unambiguous rules for cryptoAs we <a href="https://coinjournal.net/news/european-parliament-finally-adopts-the-markets-in-crypto-assets-act-mica/">reported</a> on Thursday, EU lawmakers’ nod for MiCA saw the bloc become the first major global jurisdiction to have a comprehensive regulation framework for crypto. Many within the digital assets space say the law offers a clear way forward for exchanges and other platforms, with investor protection measures clearly spelled out.“<em>The passing of the MiCA regulation has created clear and unambiguous guidelines for crypto companies across the European market… Most importantly, crypto investors now have far more security and won’t be left holding the bag when companies collapse due to dodgy business practices</em>,” Pieper noted as he added his voice to the matter.While the devil could be in the details, Pieper believes the legislation establishes Europe as the world’s blockchain hub. With the regulatory environment supportive of crypto innovation, it’s possible that Europe outpaces peers in markets still mired in regulatory uncertainty.According to Pieper, MiCA’s implementation “<em>shouldn’t be viewed as a bad thing</em>,” but rather as a positive step for crypto companies within the EU bloc. Those with a clear framework within which to operate will march forward confidently, something that cannot be said for US-based counterparts. It’s a “<em>first-mover advantage</em>” that companies like Swarm will certainly benefit from after having embraced regulation from the beginning. Swarm is regulated by Germany’s BaFin, and offers customers a chance to trade Real World Assets (RWAs) on-chain.Regulation now a part of cryptoLooking ahead to MiCA implementation, Pieper says any pains likely to come from the new law will form part of the “growing” process for crypto. He opines that with things changing fast, regulation has become a necessary part of the industry’s growth.“<em>While some parts of crypto have an anti-government ethos, regulations are now a fact and resisting is no longer feasible,” he commented. “We know anecdotally there are roughly 300 organizations that are affected by this and need to register. The impending significant bottleneck and the potential of having to pause business operations is now very real for these organizations</em>.” The US is being left behindAs Pieper rightly pointed out, the US is seen to be lagging Europe when it comes to <a href="https://coinjournal.net/news/tag/crypto-regulation/">crypto regulation</a> .In deed, as CoinJournal <a href="https://coinjournal.net/news/tag/crypto-regulation/">highlighted</a>, a senior UK minister recently indicated it could release its own crypto rules within a year.Across the Atlantic, this week’s fiasco that was SEC Chair Gary Gensler’s responses on the subject of crypto at a Congressional hearing left many unimpressed. The SEC chief’s lack of clarity when handling some of the questions has been heavily criticised. Messari founder Ryan Selkis called the hearing a “train wreck” in relation to Gensler’s responses.1/ It's been 24 hours to reflect on Chair Gensler's absolute train wreck of an oversight hearing yesterday.Schadenfreude is satisfying, but here's the substance of how ineffective, and out-of-touch the Biden admin's financial regulators are right now.— Ryan Selkis 🪳 (@twobitidiot) <a href="ht…

Dogecoin is in green today because April 20th is ‘Doge Day’.The meme coin’s technicals indicate bullish momentum.Billionaire CEO Elon Musk continues to support Dogecoin.Cryptocurrencies at large haven’t done all so well over the past 24 hours. But there’s one that seems to be bucking the trend – and that’s Dogecoin.Dogecoin technicals indicate upward momentumDogecoin is in the green this morning as April 20th – the “Doge Day” influenced the overall investor sentiment.Nonetheless, a brief look at the technicals indicate that there may be more upside to unravel in this meme coin moving forward.To begin with, Dogecoin has just had its 30-day moving average climb above the 200-day that typically signals bullish momentum. On top of that, its RSI or the Relative Strength Index has crossed 60 suggesting a further increase in price is likely.Year-to-date, Dogecoin is up roughly 30% at writing.Elon Musk continues to support DogecoinAnother potential reason to own Dogecoin continues to be the support it consistently receives from Elon Musk. Remember that the billionaire recently partnered Twitter with eToro to enable crypto trading on the platform.More importantly, it could be a significant tailwind for the meme coin if it ends up finding a spot in the digital payments plans that Twitter disclosed in January.Earlier this month, Musk also replaced Twitter’s iconic bird logo with a picture of the Shiba Inu dog that stimulated a debate around his plans for Dogecoin.Could today – the “Doge Day” be the day that he reveals any such plans? That remains to be known for now!The post Dogecoin gains as ‘Doge Day’ helps sentiment: buy into the strength? appeared first on CoinJournal.

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GameFi is an area of innovation within the blockchain gaming space that generates a lot of buzz and excitement, and none more so than for newcomer <a href="https://metacade.co/en?utm_source=media&utm_medium=artc&utm_campaign=coinjournal&utm_term=internal&utm_content=45">Metacade</a>. GameFi, short for gaming finance, combines the world of gaming with decentralized finance (DeFi) to create a new type of gaming experience, allowing gamers to earn crypto while playing games — creating a new revenue stream for the gaming community and a new way to profit from the gaming industry for investors.The potential for GameFi is immense, with the global gaming industry expected to be valued at over $250 billion by 2025. The combination of gaming and finance is a natural fit, as both rely heavily on community engagement and user adoption. The GameFi market is still in its infancy. Still, it is expected to proliferate in the coming years, attracting more gamers from the traditional gaming sector and putting Metacade in a fantastic position for growth.Could crypto regulation help Metacade’s price growth?While clarity on crypto regulation is still lacking in the crypto space, the SEC is expected to provide more guidance in the coming months. This crypto regulation uncertainty has caused some concern for investors. Still, the hope is that more explicit guidelines will ultimately lead to a more stable and mature crypto market that will benefit innovative projects like Metacade.Metacade is forging ahead with its <a href="https://metacade.co/whitepaper.pdf">plans</a> for the future of GameFi. The platform’s comprehensive offering, which includes several earning mechanisms beyond the game zone, is reported to have caught the attention of many crypto whales in the space. With its recent exchange listings and growing gaming community, Metacade is well-positioned to become a leading name in the GameFi space and could gain a boost from any forthcoming regulatory transparency.What is Metacade?Metacade is the first community-centered play-to-earn (P2E) gaming arcade built on blockchain. It will offer various games covering a wide range of genres and styles, all specifically developed for the platform with integrated earning potential for users. Metacade also plans to become a central hub for Web3 users, offering competitive gaming, job opportunities, and rewards for content creators.This approach gives Metacade a strong chance of putting itself at the heart of the GameFi movement and, in doing so, offers investors a fantastic opportunity to capitalize on the high potential of the project in a burgeoning market.How does MCADE work?The MCADE token powers the rewards system and is the platform’s currency. It also offers staking opportunities (although currently fully subscribed), allowing investors to earn a passive yield and also vote in governance proposals for the project. The platform offers both casual and competitive gameplay, with users able to play solo while earning MCADE tokens or join paid entry tournaments to win substantial prizes.<a href="https://metacade.co/en?utm_source=media&utm_medium=artc&utm_campaign=coinjournal&utm_term=internal&utm_content=45">Metacade’s</a> innovative features go beyond its online arcade. It bestows content creators with MCADE token rewards for contributing to the community hub, which can include posting game reviews, sharing alpha, or engaging with the community — guaranteeing a high level of user retention.Another prominent feature is the Metagrants program, which provides early-stage funding to promising new game developments on the blockchain. The community can vote to decide which new games shine before Metacade provides a Metagrant to help bring the idea to life. This feature is expected to drive innovation in the blockchain gaming sector while helping to support developers during their early stages.Can MCADE shoot for the moon?Investors anticipate significant returns from buying in the early stages of the project. While the presale saw the price of MCADE rise…

A dormant wallet from 2012 has woken up and moved 279 BTC.According to on-chain data, the Satoshi era wallet holds 1,128 Bitcoin worth $31.6 million.The wallet last transacted when Bitcoin prices ranged in the $12 to $95 zone. While Bitcoin price continues to flirt with $28,000 after this week’s slump from $30,000, a new development related to the leading cryptocurrency has been observed.Dormant wallet wakes up and moves 279 BTCAccording to on-chain details shared by crypto account Whale Alert, a BTC wallet that has been dormant for over 10 years just reawakened.  The Satoshi era wallet reportedly holds 1,128 bitcoin worth approximately $31.6 million.💤 💤 💤 💤 A dormant address containing 1,128 #BTC (31,587,849 USD) has just been activated after 10.5 years!https://t.co/W87gdQJ0lo— Whale Alert (@whale_alert) April 21, 2023And the dormant wallet has made some quick moves, with 279 BTC of the assets being moved to three new addresses in the past 24 hours. On-chain smart money platform Lookonchain tweeted:“A whale with 1,128 $BTC ($31.6M) that has been dormant for 10 years transferred 279 $BTC ($7.8M) to 3 new addresses just now. The whale received 1,128 $BTC in October 2012 and May 2013, when prices were $12 and $195.”A whale with 1,128 $BTC($31.6M) that has been dormant for 10 years transferred 279 $BTC($7.8M) to 3 new addresses just now.The whale received 1,128 $BTC in October 2012 and May 2013, when prices were $12 and $195.https://t.co/2MxnVzcEMl pic.twitter.com/2GM7Oq4e2P— Lookonchain (@lookonchain) April 21, 2023Bitcoin price reached highs of $69,000 in November 2021, meaning the wallet would have been even richer had it activated then. While the sudden activity and why it happened remains to be unearthed, crypto twitter is reacting to the news with speculation that it is possible someone just found their seed phrase.The post Dormant Bitcoin wallet with $31 million BTC activates after 10 years appeared first on CoinJournal.

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The price of Rocket Pool (RPL) faces fresh downside pressure near $45, with bulls’ attempting to turn the level into a new primary support zone. As of 12.50 pm ET on Friday, the RPL token was trading around $46.60 – about 2.4% down in the past 24 hours.RPL is one of the altcoins that rallied hard as Ethereum activated the Shapella upgrade.RPL price- data shows whales sold right at the local topAs CoinJournal highlighted on 14 April, Rocket Pool, Arbitrum and Loopring were among the altcoins to swell as Ethereum (ETH) broke out to $2,100 after the Shapella upgrade. The profit pivot to altcoins saw Rocket Pool’s RPL soar past its previous peak, amid increased buying pressure as the Atlas upgrade inched closer.According to on-chain data from crypto market intelligence platform Santiment, the Rocket Pool price dumped as whales took profits right at the local top.On 16 April 2023, RPL price rose to its all-time high of $61.87 before the momentum faded. Santiment says the cryptocurrency continues to see large whale volumes to add to the 70 that involved more than $100,000 worth of RPL.The 70 transactions signaled the top for Rocket Pool price and is the second largest whale dump for RPL after the 111 large transactions involving more than $100k on 8 November 2021. At the time, RPL price had hit its then ATH of $59.47, Santiment noted.🐋🚀 #Rocketpool whales perfectly signaled the top as they took profit just after the asset's #AllTimeHigh at $61.87. The 70 $100k+ transactions was the 2nd largest behind the 111 $RPL transfers made on Nov. 8, 2021 in the midst of the then #ATH $59.47. https://t.co/mzVc8iI5yT pic.twitter.com/CampspI2zR— Santiment (@santimentfeed) April 21, 2023Rocket Pool price predictionAlthough Rocket Pool’s native token is up 14% over the past month, declines over the last two days have seen RPL/USD shed more than 25% from its recently hit all-time high.In terms of short term Rocket Pool price prediction, further weakness in the Rocket Pool market could see the token’s price hurtle towards $38 or lower.The post Rocket Pool price dumped as whales sold at the local top appeared first on CoinJournal.

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Have you ever thought about how the cryptocurrency market influences your preferred online gambling games? This virtual form of currency, introduced in 2009, has taken over the gaming industry with its potential to make deposits and withdrawals faster and more securely without any associated cost.As cryptos continue advancing on their path, they are also transforming all aspects of iGaming. Below are all the details regarding this meteoric phenomenon that is revolutionizing digital casino entertainment as we know it.The Emergence of Crypto-Based Online CasinosAs the crypto revolution doesn’t seem to be stopping anytime soon, more online operators like <a href="https://www.joefortune.info/crypto-casino/">Joe Fortune Bitcoin Casino</a> are seeing its potential and various benefits. This is why a lot of iGaming sites choose specifically Bitcoin as their only acceptable form of payment or introduce other digital coins such as Ethereum, Litecoin, Tron, Ripple, etc.There are several reasons why these casinos are gaining in popularity:<a href="https://coinjournal.net/news/bitcoin-cash-mimic-dash-anonymity-features/">Anonymity</a>. Bitcoin payments don’t require players to divulge any private or personal details, making it a great way for gamers who value their privacy.  As crypto gambling sites don’t save the sensitive financial information of their players this also adds an extra layer of security.Speed & lower fees. This is one advantage that attracted many casino customers in the first place since cryptocurrencies allow instant transfers with relatively low fees compared to traditional online payment methods such as Visa and Mastercard credit/debit cards or e-wallets like PayPal.Global accessibility. Bitcoin transactions lack geographical limitations because cryptocurrency sends across jurisdictional boundaries. It makes it a really attractive choice for those who live far away or are residing in countries whose legal system restricts regular iGaming activities. Provably fair games. Online casinos using cryptos tend to offer provable fairness games meaning that gamers can verify whether results were generated randomly after each bet by comparing server seed hashes (which must be accessible). That being said, playing on these platforms allows members peace of mind knowing they will get fair outcomes based on the implemented algorithms.<a href="https://media.igms.io/2023/03/21/1682100755844-bc08711f-9fba-4a8d-9f99-e521b3bd5a21.png">Media</a>While these features make crypto-based gaming sites attractive, their novelty means that the selection of games is limited and, in many cases, still doesn’t offer top titles such as live dealer roulette or slots jackpot. However, there are more and more sites focused on crypto gambling that come with a wider range of choices.Blockchain-Based Gaming PlatformsWe have discussed digital coins influencing the industry, but blockchain technology is also entering iGaming. Several platforms use this innovation to focus on games based on the distributed ledger for an enhanced gaming experience with numerous features such as immutable transactions, increased transparency for users, and more secure data records.The most significant advantages are: Transparency. As blockchain processing is transparent with regard to asset verification and authentication of all the entities involved in a transaction (from both sides), gamers can rest assured that everything takes place in a secure and transparent manner. Ownership & tradeability. Blockchain-based platforms such as popular <a href="https://ethereum.org/en/">Ethereum</a> casinos offer their players ownership of in-game assets (avatars, weapons, etc) which can be further exchanged and traded privately or sold on the open market. Reduced fraud. As all of the members’ interaction data and proof are stored on publicly distributed ledgers, it makes it impossible to edit them after a bet has been placed or money deposited in an account, reducing cases of fraudulent activities almost completely. <a href="https:/…

Ethereum price has dropped by 11.8% over the last week.It had surged above $2,100 after the Shanghai upgrade.At press time, it was trading at $1,855 almost $300 below the post-Shanghai highs.In recent days, the cryptocurrency market has been quite fragile, largely because of the increased threat of an economic recession. There has also been persistent high inflation and fluctuations in the stock market.The top cryptocurrencies have been largely affected within the crypto space with Ethereum declining below its pre-Shanghai price levels and Bitcoin dropping below $28k. The global cryptocurrency market cap has also been on the decline since hitting a high above $1.25 billion on Thursday, April 13.Key Ethereum price levels to watchThe sudden drop in price has left ETH investors/traders wondering what the future holds for the Ethereum price especially since the Shappella upgrade was seen as a game changer to the second-largest cryptocurrency by market cap. Most are now scratching their head wondering whether or not it will recover from this setback.Ethereum price has already dropped past the first support level at $1,896. However, at its current price of $1,855, it is still too early to determine whether the bearish breakout is genuine or false.If today’s candlestick closes below yesterday’s low of $1,913.60, there could be a high likelihood of a further decline towards the next significant support level at $1,846, a scenario that sees the cryptocurrency maintain a bearish trend until the end of the week.If the price closes above $1,900 today, it could trigger a bounce back towards the $1,930 price zone tomorrow.Looking into the future from a midterm perspective, the price of Ethereum has retreated to the middle of a wide trading range as sellers take control as the price remains below the $2,000 level. This is a likely indicator of the cryptocurrency facing continued pressure meaning it will struggle to regain its previous bullish momentum.The post Ethereum (ETH) loses all post-Shanghai upgrade gains appeared first on CoinJournal.

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WOO Network saw increased sell-off after rejecting at $0.35.Crypto analyst says WOO could decline to $0.20.The losses for WOO came as Bitcoin price retreated to around $27,400 on Sunday.WOO Network price fell double digits on Sunday as the crypto market continued to see weakness among the bulls following key downward moves for Bitcoin, Ethereum and other major cryptocurrencies.At the time of writing, WOO was trading around $0.24, more than 10% down in the past 24 hours and nearly 26% down in the past 7 days. Bitcoin on the other hand, broke below major support at $27,800 to hover near $27,400.What is WOO?WOO is the native token of WOO Network, a blockchain-based decentralised finance (DeFi) and centralised finance (CeFi) platform. Users on the trading platform can trade BTC, ETH and other coins and benefit from one of the best liquidity and low cost trade executions.Users have access to zero fee trades on the CEX platform dubbed WOO X, while the DEX platform WOOFi offers cross-chain swaps and single-sided yields. Both platforms are powered by WOO.The WOO token, which has a circulating supply of 1.7 billion WOO and trades on the world’s leading crypto exchange Binance, had seen a massive uptick in daily volume as sell-off mounted. Data from CoinGecko showed a total of over $55 million as of 4pm ET on Sunday, more than $19 million of which was in the WOO/USDT pair on Binance.WOO price: analyst predicts decline to $0.20The price of WOO Network moved from highs of $0.28 earlier in the day, and crypto trader and analyst TraderSZ has shared the technical set up for the cryptocurrency.According to the trader, WOO did a trendline deviation on the weekly chart. With invalidation clearly above the trendline, the price prediction is that bears might extend their push to last week’s low. $WOO – looking at weekly, we did a trendline deviation. Invalidation is clear above trendline. I’d expect a move to last week low Atleast https://t.co/xC7uoOmSG4 pic.twitter.com/NMm76WNVcH— TraderSZ (@trader1sz) April 23, 2023The area the analyst highlights around $0.20 marked the zone from which WOO recently bounced to highs near $0.35. The rejection from the psychological level and potential weakness at $0.20 could see WOO price decline to the $0.14 level.The post WOO Network price sees double digit decline as Bitcoin touches $27,400 level appeared first on CoinJournal.

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Zilliqa price fell to an intraday low near $0.032 after buying pressure had pushed ZIL to $0.035.The Zilliqa team recently announced the highly anticipated upgrade that brings EVM compatibility will go live on 25 April 2023.ZIL price rose after the initial announcement and bulls are looking to reap even more gains.Zilliqa (ZIL) price dipped on Sunday, with the native token of the Sharding network recording declines of nearly 9% to reach $0.032.The dip saw ZIL give up recent gains accrued when upside momentum amid network news pushed prices to above 0.035.Zilliq 2.0 goes live on 25 April 2023The announcement last week of Zilliqa 2.0, which brings Ethereum Virtual Machine (EVM) compatibility on the Zilliqa mainnet saw the price of ZIL rise above $0.035.#EVM compatibility is coming to the Zilliqa mainnet on April 25th!
Find out more about the details of the EVM launch and the features coming in Zilliqa 2.0 in our interview with Zilliqa CTO Richard Watts:https://t.co/jnq4EHWmoC #Blockchain #Zilliqa— Zilliqa (@zilliqa) April 21, 2023As noted in a blog post on 21 April, the upgrade will go live on 25 April 2023, with notable benefits being full compatibility of Solidity apps and seamless transfer of ZIL tokens across EVM dApps and wallets, including MetaMask.The upgrade is also set to improve Zilliqa’s speed, scalability as well make it easy for developers to build on the blockchain. Developers will note that fees are multiple times cheaper on Zilliqa than on Ethereum.Zilliqa price prediction: What next ZIL?With over $5.5 billion worth of ZIL staked, more than 4.5 million unique addresses and more than 47 million transactions completed, it is clear there has been growth for Zilliqa. Yet there could be new impetus from developers and the community is excited about what EVM compatibility after Zilliqa 2.0 could mean for ZIL price.The ZIL/USD pair was trading roughly 4% in the green over the past week as a result of the weakness seen over the past 24 hours. In terms of price prediction, breaking higher to the intraday highs in the short term will see fresh buy ZIL pressure that could help bulls target $0.46 and then $0.60.The post Zilliqa price prediction: ZIL gives up gains but bulls eye EVM for uplift appeared first on CoinJournal.

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KuCoin says compromise of Twitter account lasted about 45 minutes, with users clicking on malicious links losing over $22,000.On-chain data shows largest loss was $7,750 in ETH.KuCoin has announced it will reimburse those who fell victim to the scam.KCS, the native token of crypto exchange KuCoin, traded lower today as the exchange reported its official Twitter account was compromised for about 45 minutes. In the latest KuCoin news, the exchange says the compromise only affected users on Twitter who interacted with fraudulent tweets and that no exchange assets were stolen. While users have been asked not to click on suspicious links, KuCoin has promised to reimburse all those affected as a result of the incident.KuCoin Twitter account compromised, $22,000 stolen from usersKuCoin announced that its Twitter handle had been briefly compromised early Monday. The 45-minute breach of the exchange’s social media account saw a number of users lose their assets.According to on-chain data reports, a total of 22 transactions resulted from the fraudulent details shared via the account during the period it was compromised. Approximately 22,638 USDT was stolen from unsuspecting users.“The @kucoincom handle was compromised for about 45 mins from 00:00 Apr 24 (UTC+2). A fake activity was posted and unfortunately led to asset losses for several users. KuCoin will fully reimburse all verified asset losses caused by the social media breach and the fake activity,” the exchange tweeted after it seized back control of the account.According to crypto market intelligence platform Arkham, the largest single loss was $7,750 worth of ETH.gmLast night Kucoin's twitter account was taken over by scammers for ~45 minutes.They posted a link promising to 'double money'Unfortunately, 14 users were caught in the scam, with the largest individual loss being $7750 worth of ETH. pic.twitter.com/NQcznTmVm2— Arkham (@ArkhamIntel) April 24, 2023Kucoin has assured its users that only the Twitter account was hacked and that customers’ assets on the crypto exchange are secure.“We acted immediately to retrieve control of the account from official Twitter support after the incident occurred. We want to reassure you that your assets on KuCoin are secure,” the platform noted.KuCoin price outlookKCS price reached intraday lows of $7.99 early Monday, with the token’s value down roughly 2% over the past 24 hours.  The declines are coming as the broader crypto market nursed fresh weakness with Bitcoin price trending towards $27,200.Crypto analyst Michael van de Poppe says Bitcoin could see bullish divergences below $27k, writing on Twitter:“Bitcoin clearly rejects the level here, while funding starts to become negative. Meaning that we’ll be having a bounce play soon, but from where? I’m expecting a creation of bullish divergences in the $26,500-27,000 area (Monday dump day) and then recovery to $29,200.”This outlook means altcoins could bleed again and KuCoin could face more downside pressure in coming days. If buyers give up the key horizontal support zone formed near current prices, expect a retest of the $7.00 demand zone.The post KuCoin’s Twitter account briefly compromised, $22,000 stolen from users appeared first on CoinJournal.

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