Connect with us

24/7 Cryptocurrency News

Worldcoin Expands World ID Verification To Austria

Published

on


Worldcoin continues to make strides in expanding its global footprint. The project, known for its unique “orb” verification system, has just announced a significant development in its European operations with its expansion into Austria.

This latest move to bring World ID verification to the Alpine nation highlights Worldcoin’s ongoing efforts to establish a widespread, decentralized identity verification network across Europe and beyond.

Worldcoins’ Austrian Expansion and European Support

Worldcoin, a digital identity project, has expanded its World ID verification service to Austria. Starting July 31, 2024, orb verification stations will be available at multiple locations in Vienna. Austrian residents aged 18 and over can now join over 6.3 million global participants in the Worldcoin network.

This expansion follows the project’s presence in neighboring Germany, signaling growing interest in proof of humanness technology across Europe. Worldcoin aims to provide a way to digitally verify an individual’s uniqueness and human status, which they consider fundamental to establishing digital identity.

Recent surveys in Spain and Portugal indicate support for the technology among World ID holders, with 82% and 77% respectively viewing it positively for online interactions. Worldcoin is also seeking ambassadors in Austria to promote the project locally, offering benefits such as early access to new features and networking opportunities.

Also Read: Seoul Court Sides With Wemade in $7M WEMIX Token Dispute

Concerns Raised by Crypto Investigators

In a recent development, prominent crypto detective ZachXBT has highlighted potential insider trading and questionable practices by the Worldcoin team as their project nears a significant token unlock. ZachXBT’s investigation builds on research by top Bybit trader DefiSquared. The research brings to light several tactics used by Worldcoin to manipulate its token price.

Moreover, it raises concerns about the integrity of the project and the motivations of its backers. DefiSquared’s article provides a detailed examination of Worldcoin’s tokenomics and market strategies. According to DefiSquared, Worldcoin is set to commence insider unlocks with just 2.7% of the supply circulating.

Also Read: BlackRock Ethereum ETF Hits New Milestone, Net Inflows Turn Positive

✓ Share:

Coingape Staff

CoinGape comprises an experienced team of native content writers and editors working round the clock to cover news globally and present news as a fact rather than an opinion. CoinGape writers and reporters contributed to this article.

Disclaimer: The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.





Source link

24/7 Cryptocurrency News

US PCE, FOMC Minutes, & Crypto Expiry In Focus, Brace For Market Impact

Published

on


The crypto market enters a crucial week, with a flurry of key events like the US PCE inflation, FOMC Minutes, and Q3 GDP (first revision) data, among others, scheduled. In addition, the crypto market expiry has also fueled concerns among the market participants. For context, the investors are awaiting the impact of these events, as the broader market noted a massive rally in recent days.

US PCE Inflation & FOMC Minutes In Focus

The crypto market awaits a flurry of key economic events this week, including US PCE, FOMC, and others, with speculations soaring over the potential impact on asset prices. Notably, the week will start with Consumer confidence data and US FOMC for November scheduled on Tuesday, November 26. This would provide further cues on the Fed’s potential stance with their monetary policy plans, which usually affect the investors’ sentiment.

In addition, the minutes will also be closely watched, as recent reports showed that the US Federal Reserve said that it won’t be focusing on the 2% inflation target ahead. Besides, with Donald Trump’s election victory and Elon Musk’s focus on cutting Federal spending, investors will keep close track of the central bank’s minutes this week.

Following that, the market participants will await the US GDP figures for the third quarter. The first revision of the economic figure is scheduled for Wednesday, November 27, which will provide cues on the US economic health. This is also likely to impact the sentiment of the broader financial sector, let alone the crypto market.

Meanwhile, investors will be closely watching the inflation figures, especially after recent data indicates prices are soaring. The US PCE inflation, set for Wednesday, is expected to come in at 0.2% in October, unchanged from the previous month’s figure. On the other hand, the YoY PCE figure is expected to accelerate at 2.3%, as compared to 2.1% noted in the prior month.

In addition, the Core PCE inflation figures, which exclude the energy and food prices, are expected to show a 2.8% surge, up from the 2.7% noted in September. However, the monthly figure is expected to remain unchanged at 0.3%.

Will Crypto Expiry Impact The Ongoing Rally?

Bitcoin and other top altcoins have noted robust rallies recently, with optimism hovering in the market after Donald Trump’s election win. However, some market experts anticipate the upcoming crypto expiry to impact the market sentiment.

According to Deribit data, $9.13 billion in Bitcoin options is set to expire on November 29, with a put/call ratio of 0.80. The max pain price is $77,000. On the other hand, $1.24 billion Ethereum is also set to expire on the same date, with a put/call ratio of 0.77 and a max pain price of $2,800.

Crypto Expiry Bitcoin Expiry November 29Crypto Expiry Bitcoin Expiry November 29
Source: Deribit

This crypto expiry, worth more than $10 billion, is likely to spark volatility in the market, impacting investors’ sentiments. In addition, many top experts including Peter Brandt hint towards a potential Bitcoin selloff ahead, while remaining optimistic about the crypto’s long-term trajectory.

Having said that, the market will keep close track of the US PCE inflation figures, FOMC minutes, and other macroeconomic events. In addition, the crypto expiry is also expected to impact the traders’ sentiment, especially amid the ongoing rally in the market.

✓ Share:

Rupam Roy

Rupam is a seasoned professional with three years of experience in the financial market, where he has developed a reputation as a meticulous research analyst and insightful journalist. He thrives on exploring the dynamic nuances of the financial landscape. Currently serving as a sub-editor at Coingape, Rupam’s expertise extends beyond conventional boundaries. His role involves breaking stories, analyzing AI-related developments, providing real-time updates on the crypto market, and presenting insightful economic news.
Rupam’s career is characterized by a deep passion for unraveling the complexities of finance and delivering impactful stories that resonate with a diverse audience.

Disclaimer: The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.





Source link

Continue Reading

24/7 Cryptocurrency News

Ripple Provided The Blueprint To Defeat Gary Gensler

Published

on


Stuart Alderoty, the Chief Legal Officer of Ripple Labs Inc has spotlighted the firm’s role in fighting the crypto crackdown initiated by Gary Gensler as Chairman of the US Securities and Exchange Commission (SEC). With a legal battle spanning approximately four years, Alderoty send appreciation to the key stakeholders in the regulatory fight

In his post on X, Stuart Alderoty noted that though victory has a thousand fathers, some personalities played major roles. He spotlighted the company’s CEO, Brad Garlinghouse, as a leader who provided the courage the team needed to go on.

He also hinted at the role many in the firm’s legal department played as key in paving the way for the success achieved thus far. To the Ripple CLO, most of the core contributors in-house are nameless and do not seek “Twitter spotlight.”

Ultimately, he believes that Ripple provided the blueprint to “defeat Gary Gensler’s inexplicable war on crypto.” He reiterated that the team kept the door open long enough for the crypto industry to survive the regulatory crackdowns.

Ultimately, he mentioned the role played by the XRP Army. Alderoty thanks the community for their faith and support in the project overall.

The Gary Gensler Defeat in Context

There are a number of interpretations to the defeat implied by the Ripple CLO. Beyond the undisputed verdict that XRP is not in itself a security, Gary Gensler’s resignation date is now set at January 20, 2025.

This resignation came following the Kamala Harris defeat by Donald Trump in the just-concluded US Presidential election.

As many industry leaders noted, the crypto voters played a role in determining the outcome of the election. Many supported Donald Trump drawing on his promises to end the war on crypto.

Thus far, the signs of change are visible with his appointments. He picked Tether advocate Howard Lutnick as Commerce Sec, Scott Bessent as Treasury Secretary with Gary Gensler’s replacement yet to be unveiled.

While the next steps in the XRP lawsuit appeal are well defined, it remains to be seen if the next US SEC Chairman will revoke the appeal in the Ripple Lawsuit. In all, the community has counted a win with Trump in charge.

✓ Share:

Godfrey Benjamin

Benjamin Godfrey is a blockchain enthusiast and journalists who relish writing about the real life applications of blockchain technology and innovations to drive general acceptance and worldwide integration of the emerging technology. His desires to educate people about cryptocurrencies inspires his contributions to renowned blockchain based media and sites. Benjamin Godfrey is a lover of sports and agriculture.

Follow him on X, Linkedin

Disclaimer: The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.





Source link

Continue Reading

24/7 Cryptocurrency News

Will Polkadot Price Continue To Rally Following 100% Surge?

Published

on


T

Polkadot Price Breaks $8 Resistance: Is a Rally to $10 Next?

Amid the current crypto rally, Polkadot price surged 111% over the past 30 days, marking an impressive recovery. This includes a 40% daily jump, bringing DOT back above $8. The market has experienced heightened trading activity and stronger bullish pressure, driving the recent upward momentum. At the time of writing, the $8 mark, which was a resistance level, is now a support zone.

On the monthly chart, Polkadot price is moving toward a key horizontal resistance level near $10, which also represents a critical psychological barrier. Historically, the $10 zone has acted as both support and resistance during various market cycles. Therefore,  a successful breach could pave the way for a rally toward the $12.60 level.

Polkadot (DOT)Polkadot (DOT)
Source: X

Moreover, top technical indicators reveal a bullish outlook. The Relative Strength Index (RSI) has entered the overbought zone on the daily chart, reflecting increased buying pressure. This suggests that the market is favoring continued upward movement. However, traders remain cautious of a potential correction, as overbought conditions often precede short-term retracements.

Source: TradingView

Additionally, Polkadot (DOT) MACD indicator shows a strong bullish crossover, with the MACD line moving significantly above the signal line, indicating heightened bullish momentum. The rising histogram bars further confirm increasing buying pressure, suggesting that the uptrend could continue. 

Will Price Reclaim the $10 Level?

Despite this rally, a bearish reversal could lead to a retest of the $6.57 support level, with stronger downward pressure driving the Polkadot price back to its critical floor of $5. More so, analyst Rekt Capital emphasized the importance of closing the month above $8.61 to sustain the crypto rally.

✓ Share:

Ronny Mugendi

Ronny Mugendi is a seasoned crypto journalist with four years of professional experience, having contributed significantly to various media outlets on cryptocurrency trends and technologies. With over 4000 published articles across various media outlets, he aims to inform, educate and introduce more people to the Blockchain and DeFi world. Outside of his journalism career, Ronny enjoys the thrill of bike riding, exploring new trails and landscapes.

Disclaimer: The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.





Source link

Continue Reading
Advertisement [ethereumads]

Trending

    wpChatIcon