Crypto

Cryptocurrency, Dogecoin, Shiba Inu price, Crypto price, XRP, BNB, Litecoin

Published

2 weeks ago

May 2, 2024

Cryptocurrency, Dogecoin, Shiba Inu price, Crypto price, XRP, BNB, Litecoin

Cryptocurrency Price on May 2: Bitcoin slides below $58,000 after Fed decides to keep rates steady

Bitcoin declined on Thursday after the US Federal Reserve decided to maintain interest rates unchanged and its indication that rate cuts might be delayed. Additionally, Bitcoin’s downward movement was influenced by a mixed launch of investment products tracking the world’s top cryptocurrency and rival ether in Hong Kong.

At 12.02 pm IST, Bitcoin was down 3.3% at $57,629, while Ethereum dropped by 1.5% to $2,920.

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Fed Chair Jerome Powell late on Wednesday said a rate hike was unlikely, but reiterated that a rate cut would be considered only if inflation in the economy eased further.Edul Patel, CEO of Mudrex, said, “Bitcoin trades at $57,000 mark in the past 24 hours following the US Federal Reserve’s decision to maintain its benchmark interest rate between 5.25% and 5.50%. Since late February, Bitcoin has experienced a downward trend, largely influenced by macroeconomic conditions and geopolitical uncertainties. The next support level lies at the $56,600 level and the resistance is at $58,800 level.Meanwhile, Vikram Subburaj, CEO of Giottus Crypto Platform, said, “Bitcoin registered a significant decline, dropping 4% today in response to macro and ecosystem developments. The move comes as Binance founder CZ received a 4-month prison sentence in the US, while the launch of spot ETFs in Hong Kong failed to excite investors.”The global cryptocurrency market cap declined by 2.4% to around $2.16 trillion in the last 24 hours.Other major crypto tokens such as BNB (-3.2%), Dogecoin (-3%), Toncoin (-4%), Shiba Inu (-0.2%), NEAR Protocol (-2.2%), and Uniswap (-0.5%) also fell. On the other hand, Solana, XRP, Cardano, and Polkadot surged up to 5%.

The volume of all stablecoins is now $98.61 billion, which is 92.67% of the total crypto market 24-hour volume, as per data available on CoinMarketCap.

In the last 24 hours, the market cap of Bitcoin, the world’s largest cryptocurrency, fell to $1.132 trillion. Bitcoin’s dominance is currently 52.53%, according to CoinMarketCap. BTC volume in the last 24 hours rose 29.5% to $49.6 billion.

“Technically, BTC is now more than 20% down from its all-time high. It’s currently testing support at $57,000, and a drop below that could lead to a further decline to the $52,000-$53,000 range, with no significant support in between. Similarly, ETH needs to hold above $2,900; otherwise, it may drop to the $2,700 level,” said CoinDCX Research Team.

Despite the downturn, the ETH/BTC pair remains strong, indicating relative strength in some altcoins, with a few even showing gains amidst BTC’s decline, although most are in the red, CoinDCX said.

(Disclaimer: Recommendations, suggestions, views, and opinions given by the experts are their own. These do not represent the views of The Economic Times)

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Crypto

RobotBulls Innovates Cryptocurrency Trading with AI and Blockchain Integration

Published

2 hours ago

May 18, 2024

Press Room

RobotBulls Innovates Cryptocurrency Trading with AI and Blockchain Integration

France – May 17, 2024 —

RobotBulls, a pioneering force in the cryptocurrency market, has unveiled its latest advancements in leveraging artificial intelligence (AI) and blockchain technology to streamline the trading process. This dual-technology approach not only simplifies trading operations but also enhances security and accuracy, providing traders from various backgrounds with an accessible and efficient trading platform.

AI and Blockchain: A Synergistic Approach for Streamlined Trading

At the heart of RobotBulls’ innovation is the integration of AI and blockchain technology. The platform utilizes advanced AI algorithms to analyze market data accurately and swiftly, offering users actionable insights to guide their trading decisions. Complementing this, blockchain technology ensures all transactions are securely recorded and immutable, reinforcing trust and transparency in all operations.

Key Features of RobotBulls: Elevating Trading Experience

RobotBulls’ platform is designed with several core features aimed at enhancing user experience:

Streamlined Trading: Automated trading tasks allow users to execute strategies efficiently without the need for constant monitoring.
Real-Time Analytics: The platform provides current market trend data, helping users make informed decisions and anticipate movements.
Robust Security Measures: Leveraging blockchain, RobotBulls ensures all transactions are transparent and secure, significantly reducing the risk of tampering.

Benefits of Using RobotBulls: Efficient and Secure Trading Traders on RobotBulls enjoy multiple advantages:

Time Efficiency: The automation of routine trading activities frees up time, allowing traders to focus on strategy development.
Increased Precision: AI-driven analysis minimizes errors in data interpretation and trade execution.
Enhanced Risk Control: Tools for managing trading risks, including customizable stop-loss settings, are readily available on the platform.

Continuous Innovation and Future Prospects

Committed to continuous enhancement, RobotBulls consistently upgrades its AI algorithms and explores more efficient blockchain technologies. These advancements aim to further expedite transactions and improve analytical capabilities, providing users with deeper insights and more robust trading options.

Supporting Traders with Educational Resources and Community Engagement

RobotBulls supports its users with an array of educational resources designed to aid both novice and experienced traders in navigating the platform effectively.

Additionally, the company fosters a strong community, enabling users to exchange strategies and insights, further enhancing their trading success.

Experience the Future of Trading with RobotBulls

For traders seeking to harness the potential of digital currencies through a secure, efficient platform, RobotBulls offers a powerful solution. To explore how RobotBulls can transform your trading experience, visit robotbulls.com.

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Crypto

Alleged crypto scammers arrested in $73 million 'pig butchering' scheme

Published

9 hours ago

May 17, 2024

Press Room

Alleged crypto scammers arrested in $73 million 'pig butchering' scheme

The Justice Department said on Friday that it arrested two alleged scammers for laundering “at least” $73 million through shell companies connected to “pig butchering” cryptocurrency investment schemes.

Nvidia stock has all-time closing high in its crosshairs

In a pig butchering scam, scammers contact victims online and gain their trust before manipulating them into investing in a fake cryptocurrency.

Daren Li, a 41-year-old dual citizen of China and St. Kitts and Nevis — and resides in China, Cambodia, and the United Arab Emirates, was arrested on April 12 at Hartsfield-Jackson Atlanta International Airport. According to a Justice Department statement, he was subsequently transported to the Central District of California. Yicheng Zhang, 38, a Chinese national and resident of Temple City, California, was arrested on Thursday in Los Angeles, California, the statement said.

The DOJ accused the individuals of having lured victims into depositing money into U.S. accounts. From there, the two allegedly utilized co-conspirators to launder the money through U.S. financial institutions to Bahamas bank accounts, before converting the funds into the stablecoin Tether, also known as USDT.

“Cryptocurrency investment scams exploit the borderless nature of virtual currency and online communications to defraud victims,” said U.S. Deputy Attorney General Lisa Monaco. “While fraud in the crypto markets takes on many forms and hides in many far-off places, its perpetrators aren’t beyond the law’s reach,” the

Li and Zhang face charges of conspiracy to commit money laundering and six counts of international money laundering. According to the Justice Department, if found guilty, they could be sentenced to a maximum of 20 years in prison for each count.

Two days before announcing the arrests, the Justice Department said it arrested two brothers for allegedly stealing roughly “$25 million worth of cryptocurrency within approximately 12 seconds.” And earlier this month, the department charged ‘Bitcoin Jesus’, a.k.a. Roger Ver, with evading nearly $50 million in taxes.

Crypto

Brothers charged with stealing $25 million in Ethereum in 12 seconds — Cryptocurrency heist exploited transaction validation process

Published

16 hours ago

May 17, 2024

Press Room

Brothers charged with stealing $25 million in Ethereum in 12 seconds — Cryptocurrency heist exploited transaction validation process

In what U.S. prosecutors are calling the first case of its kind, a pair of brothers have been charged with stealing $25 million worth of cryptocurrency in just 12 seconds. They’re now charged with wire fraud and money laundering for the April 2023 heist.

Anton Peraire-Bueno, 24, and James Peraire-Bueno, 28, were reportedly educated at the Massachusetts Institute of Technology (MIT) in mathematics and computer science. Using the skills they learned at MIT, prosecutors say the duo found a way to exploit the Ethereum transaction validation process.

The brothers allegedly used that exploit to gain fraudulent access to pending transactions on the Ethereum blockchain, a public ledger that records and validates cryptocurrency payments.

The pair was arrested on May 14 on the indictment handed down from the United States District Court of the Southern District of New York. The indictment against the brothers was unsealed (PDF) on Wednesday, May 15, 2024.

Investigators say the brothers altered enough transactions in 12 seconds to redirect $25 million in cryptocurrency to themselves instead of the intended recipients.

In a press release, U.S. Deputy Attorney General Lisa Monaco stated that the brothers used “a technologically sophisticated, cutting-edge scheme they plotted for months and executed in seconds.” She also explained that agents from the Internal Revenue Service (IRS) played a crucial role in solving the riddle of where the cryptocurrency went.

A representative for Ethereum confronted the Peraire-Bueno brothers, but they refused to return the funds. Instead, they worked to launder and hide their ill-gotten gains, prosecutors allege.

U.S. Attorney Damian Williams stated the exploit “calls the very integrity of the blockchain into question.” Even though this theft was the first of its kind, prosecutors are prepared to uncover any other new forms of cybercrime. “As cryptocurrency markets continue to evolve, the Department will continue to root out fraud, support victims, and restore confidence to these markets,” Monaco pledged.

The Peraire-Bueno brothers face one count each of conspiracy to commit wire fraud and conspiracy to commit money laundering. If convicted, they each face more than 20 years in prison.