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Cardano Founder Lists Why Donald Trump Is Better

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4 hours ago

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Speaking on the recent Crypto Com lawsuit against the US SEC, Cardano Founder Charles Hoskinson has used the new trend to promote Donald Trump over Kamala Harris. The Cardano innovator pointed to the US SEC’s contradictory regulation of the digital asset industry. 

Crypto.com vs. SEC Case and How Donald Trump Can Help

Hoskinson’s statement came as a response to FOX Business journalist Eleanor Terrett’s post about Crypto.com suing the SEC.

The crypto exchange argued that the agency is overstepping its jurisdiction by regulating the crypto industry. Noteworthy, the regulator first went after Crypto.com by issuing it a Wells Notice. The regulator claimed that the assets traded on its platform qualifies as securities.

Before Charles Hoskinson highlighted it, the topic of the SEC’s contradictory regulation has surfaced severally amongst crypto players. Even in the SEC vs Coinbase case, there seem to be a contradiction with interpretation of the Howey Test. As a result, the American cryptocurrency exchange has reinforced its interlocutory appeal with the court on the matter.

Considering how much these crypto platforms desire a clearer regulatory framework, it is only natural that they tilt towards a pro-crypto leader. In his X post, Hoskinson sarcastically implied that another four years for Kamala Harris with Gensler as Chair “should definitely improve this situation.”

With plans to make him Treasury Secretary surfacing sometime, Hoskinson voiced the clear stance between Harris and Donald Trump. The Cardano founder said “team red seems the most all-in on crypto, since Trump has created his own crypto projects” making him a better fit.

This stance is quite evident in the volume of support that Trump is receiving over his DNC opponent. Polymarket bettors are favoring Trump and his wining odds are still leading at 52.4%. Similarly, crypto leaders are donating their assets to ensure the Republican presidential candidate sits in the White House again.

Fate of SEC Chair 

During the Bitcoin Conference 2024 in Nashville, Donald Trump announced his plan to fire SEC Chair Gary Gensler on his first day in office. Although he was very particular about the US SEC criticism towards Bitcoin, Trump vowed to end the “anti-crypto crusade” of the agency. Also, he promised to halt the “persecution and weaponization” against digital assets.

As the reality of this possibility draws closer, conversations are beginning to take place about a potential replacement for the SEC chief. Several hands are pointing towards Robinhood CLO Dan Gallagher. A few entities have cited his previous role as an SEC Commissioner, his current postion in Robinhood and his legal expertise.

They believe Gallagher will be a good fit and could eventually take the crypto industry to greater heights, especially in terms of regulation.

 

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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.

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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.





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Ethereum Foundation Sells $6M ETH Amid Continued Whale Liquidations

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10 mins ago

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October 8, 2024

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Ethereum Foundation has executed a new series of transactions, sending 2,500 ETH to the Bitstamp exchange, valued at approximately $6.06 million. This move occurred through two separate transactions, each involving 1,250 ETH. This recent activity aligns with an ongoing pattern where the Foundation appears to be liquidating parts of its holdings amid fluctuating market conditions.

The transactions took place early in the morning, with the first occurring at 08:14:35 AM UTC and the second occurring at 08:19:23 AM UTC on October 8.

Ethereum Foundation Liquidates $6.06M in ETH to Bitstamp Exchange

According to Lookonchain, the Ethereum Foundation has been active in managing its ETH assets under the pressure of a bearish market. This recent transaction involved moving 2,500 ETH to Bitstamp in two equal parts, each worth approximately $3.03 million. The Foundation’s strategy seems geared towards converting some of its digital assets into cash or stablecoins during periods of high volatility.

Furthermore, this move coincides with a similar trend among Ethereum whales. For instance, an ICO whale participant recently sold 6,000 ETH amid a broader sell-off. Since September 22, this individual has sold 45,000 ETH, accumulating $113.2 million at an average price of $2,516 per ETH. These sales have been contributing to the bearish sentiment in the market.

In addition to the Ethereum Foundation’s sales, Ethereum whales have made other noteworthy movements. Earlier today, another whale moved 11,456 ETH, worth approximately $27.8 million, to the exchange Binance. This transaction further emphasizes the trend of large-scale holders transferring significant ETH amounts amidst market uncertainties.

Moreover, transaction data from September shows that the Ethereum Foundation offloaded a total of 3,766 ETH, valued at about $10.46 million, throughout the month. This pattern of liquidation reflects a broader strategy of reducing exposure during market downturns to rebalance financial strategies in response to the volatile market.

ETH Price Market Response and Future Outlook

The ongoing liquidations by the Ethereum Foundation and Ethereum whales have sparked debates about the immediate effects on ETH price. These discussions focus on both the short-term market impacts and the long-term implications for Ethereum.

A recent analysis by Ali Martinez highlighted that ETH price is at a make-or-break junction, with $2,300 serving as a critical support level. According to Martinez, 2.77 million addresses have purchased 52.65 million ETH at this price point. If market bulls maintain this level, there is potential for a threefold increase in value. Conversely, a drop below $2,300 could trigger a 30% decline to $1,600.

At the time of writing, Ethereum (ETH) price is at $2,441, reflecting a minor decline of 0.14% over the last 24 hours.

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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.





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SHIB Trader That Made $145M Swaps Position To NEIRO, More Gains Ahead?

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15 hours ago

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October 8, 2024

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A SHIB trader who made history earning $145 million has once again caused up a stir across the broader market, primarily by switching trade positions. On-chain data on Tuesday revealed that the trader swapped his Neiro Ethereum (NEIROETH) holdings for First Neiro on Ethereum (NEIRO), sparking optimism on the token’s future price movements. Meanwhile, NEIRO price extended intraday gains to nearly 14% today, pouring additional bullish sentiments on the token.

SHIB Trader Sparks Optimism Swapping Holdings To First Neiro On Ethereum

According to on-chain data facilitated by Spotonchain dated October 8, the SHIB trader who made $145 million trading Shiba Inu, a dog-themed meme crypto, is swapping their losing NEIROETH holdings for NEIRO. As per the data, the trader recently sold $1.22 million worth of NEIROETH with a loss of 55% after a month’s holding.

Subsequently, the trader bagged $1.45 million worth of NEIRO over the past 24 hours, bringing total holdings for the token to $6.51 million. The trader currently holds an unrealized profit of more than 67% with this latest accumulation.

In the interim, it’s also worth noting that the same trader has an unrealized profit of over 32%, holding $4.61 million worth of FET. These notable profits underscore experienced trading and profit-making strategies, in turn sparking optimism surrounding NEIRO token’s future price action. Meanwhile, it’s noteworthy that the investor also holds 477.5 billion SHIB, hinting that even Shiba Inu could pump ahead.

Token Price Performance

At press time, NEIRO price soared 16% in the past 24 hours to trade at $0.00168. The token’s weekly gains totaled nearly 50%, whilst the monthly chart showed a 2845% upswing. This indicates that the crypto is currently on a price rally, while the intraday low and high were $0.001395 and $0.001872, respectively. Further, the token’s 24-hour trading volume surged nearly 56% to $1,167,422,114.

Simultaneously, Coinglass data indicated that the coin’s futures OI surged 23.66% to $168.43 million today. Further, even the derivatives volume rocketed 82.74% over the past day to $4.09 billion, underscoring increased investor interest in the asset. Coupled with the price upswing, data indicates that NEIRO is currently on an uptrend.

As mentioned above, the experienced SHIB trader’s massive accumulation ignites further optimism about the future price movements of the token. Additionally, a recent CoinGape Media report revealed that NEIRO boasts strong on-chain activity, adding to bullish market sentiments on future price action.

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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.





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Ethereum Price At A Make-Or-Break Junction, ETH Whale Selling Continues

Published

18 hours ago

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October 8, 2024

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As the Bitcoin unwinding continues, the world’s second-largest cryptocurrency Ethereum has been facing an even steeper correction dropping another 7% on the weekly charts. The Ethereum price is trading much closer to the crucial support of $2,300 while the ETH whale selling has continued this week.

Ethereum Price Drop Under $2,300 Can Trigger 30% Crash

Popular crypto analyst Ali Martinez recently reported that $2,300 is a crucial support for ETH Price as 2.77 million addresses collectively purchased 52.65 million ETH. He said that if the bulls manage to defend this support and reverse the ETH trajectory, there’s the chance of another 3x rally from here. However, if the ETH bears manage to break under the $2,300 level, it could lead to another 30% crash all the way to $1,600.

“If Ethereum can hold above $2,300, we may see a new rally that could push the price toward $6,000,” Martinez noted. Thus, it is a make-or-break for the Ethereum price which could be a deciding factor for its future trajectory. As of press time, the ETH price is trading 1.2% down at $2,432 levels with a market cap of $2,422 levels.

Courtesy: Ali Martinez

On the other hand, following the Dencun upgrade, the Ethereum mainnet fee has touched an all-time low amid a surge in transactions on the Layer 2 platforms. Thus, with fewer fees burned, ETH has once again turned inflationary, reversing its current deflationary trend. This puts Ethereum price at the risk of a rally to $3,000. On the other hand, the continuous sell-off from ETH whales has dampened the market sentiment recently.

ETH Whale Selloff Continues

As per the recent data from Spotonchain, an ETH whale from the ICO era, who initially received 150,000 ETH during the Ethereum ICO, has made another substantial deposit to Kraken. Just four hours before, the whale has transferred 5,000 ETH worth $12.2 million, to the exchange.

The data also shows that over the past 15 days, this whale has deposited a total of 45,000 ETH ($113.3 million) to Kraken at an average price of $2,517. Following these significant transfers, the whale still holds 94,450 ETH, worth around $230 million. Thus, this continuous selling by the ETH whale shows

As the sentiment around ETH weakens, investors are moving their money to Ethereum rivals like Sui (SUI), Solana (SOL) and Avalanche (AVAX) in the current market conditions.

On the other hand, inflows into Ethereum ETFs have also slowed down significantly. On Monday, October 7, none of the spot Ethereum ETFs saw any inflows.

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Bhushan Akolkar

Bhushan is a FinTech enthusiast with a keen understanding of financial markets. His interest in economics and finance has led him to focus on emerging Blockchain technology and cryptocurrency markets. He is committed to continuous learning and stays motivated by sharing the knowledge he acquires. In his free time, Bhushan enjoys reading thriller fiction novels and occasionally explores his culinary skills.

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.





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