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Pro XRP Lawyer John Deaton Warns Users Against Crypto Scams

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4 days ago

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As the cryptocurrency market grows, so do the tactics of scammers aiming to exploit unsuspecting individuals. Pro XRP lawyer John Deaton has issued a stern warning about evolving crypto scams. Deaton urged users to exercise caution and vigilance in safeguarding their digital assets.

Crypto Scam Alert: John Deaton Warns Users Against Evolving Tactics

In a detailed post on social media, John Deaton highlighted the dangers of sophisticated crypto scams targeting new and experienced users. Deaton stressed the importance of never sharing sensitive information like seed phrases or passwords. These details act as the key to accessing a user’s crypto wallet and can lead to the complete loss of funds.

Deaton shared a personal story about a near-miss incident where scammers hijacked his home WiFi and attempted to trick him into revealing his login credentials. The attackers used fake emails and calls posing as customer support representatives. John Deaton described the moment as a critical learning experience. He emphasized that scammers often create a sense of urgency to manipulate their targets.

The Pro XRP Lawyer added, 

“What people need to understand is that, not only do the emails look official, but it creates a sense of urgency and fear. The email states that your funds are at risk and you need to take immediate steps to protect your funds or they could be lost forever.”

Amid the increasing wave of crypto scams, Pudgy Penguins NFT holders have become the latest target. Coingape recently reported that scammers are using deceptive Google ads to lure users to fake websites designed to steal wallet credentials. This incident highlights the growing sophistication of attacks in the Web3 space and the urgent need for heightened security measures.

Sophisticated YouTube Scams Target Crypto Enthusiasts

A recent cybersecurity report from Kaspersky uncovered a new scam involving the use of YouTube comments. Scammers post crypto wallet seed phrases, claiming to seek assistance in transferring funds. These comments appear under finance-related videos and often portray the scammers as naïve beginners.

When an unscrupulous individual attempts to access the wallet using the shared seed phrase, they find it contains cryptocurrency, often USDT. However, to withdraw these funds, a small fee in TRX tokens is required. Victims transferring TRX to the wallet for fees soon discover their tokens are automatically redirected to the scammer’s account.

Multi-Signature Wallets: The New Tool in Crypto Scams

The wallet used in these scams is typically a multi-signature wallet, which requires multiple approvals to authorize transactions. This setup makes it impossible for the would-be thief to move the funds, even after sending TRX for fees. Instead, their TRX tokens are immediately drained, leaving them empty-handed.

More so, John Deaton pointed out that these scams exploit human greed, turning opportunistic individuals into victims. He warned that such schemes are becoming increasingly common and urged users to remain vigilant.

John Deaton advised users to adopt robust security measures to protect their digital assets. He emphasized the importance of enabling two-factor authentication and verifying the authenticity of emails and links before clicking. Additionally, he reiterated the critical rule,

”NEVER share passwords or seed phrases.”

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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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Bitcoin Bulls Return as BTC Hits $100K, Altcoins Shine

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2 hours ago

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January 7, 2025

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Today, crypto prices turned bullish as Bitcoin reached the $100K mark after two weeks. Major altcoins also rose, with XDC Network gaining 8% in the last 24 hours, and Bittorrent (BTT) surging 7%. The global crypto market increased by approximately 2%, reaching $3.59 trillion. Trading volume spiked by 45%, now standing at $133 billion. The Fear and Greed Index shows 66, indicating greed in the market. Let’s look at the top cryptocurrencies and their prices on January 7.

Crypto Prices Today: BTC, ETH, XRP, and SOL Show Steady Gains

BTC, ETH, XRP, and SOL have all gained between 1% to 2% in the past 24 hours. Meanwhile, a Canadian crypto forum moderator claimed he was forced into hiding following an alleged kidnapping and torture attempt. The attackers reportedly believed he held a large Bitcoin stash.

Bitcoin Price Today

Bitcoin price today was trading at $101,173, marking a 3% increase in the last 24 hours. BTC’s 24-hour low was $98,682, while its high touched $102,680. Bitcoin’s market cap reached $2 trillion, and its trading volume surged to $50.6 billion.

As per Farside Investors data, BTC ETFs witnessed an inflow of $769 million. Fidelity led the buying spree with $370 million, followed by Ark & 21Shares purchasing $152 million, and Grayscale investing $148 million. BlackRock’s data is still awaited.

Ethereum Price Today

Ethereum price today was trading at $3,685, registering a 1% increase in the last 24 hours. Its 24-hour low and high stood at $3,621 and $3,742, respectively. ETH ETFs recorded an inflow of $4.6 million, with Fidelity accounting for the entire purchase.

XRP Price Today

Crypto prices today show XRP trading at $2.40, slightly higher than yesterday. Its 24-hour range was between $2.375 and $2.454. Also, Ripple CEO Brad Garlinghouse said the $11 billion valuation seems outdated due to rising XRP demand and prices.

Solana Price Today

Solana price today was trading at $216, showing a 1% increase in the last 24 hours. Its 24-hour low and high were $213 and $222, respectively. The market cap reached $104 billion, with a trading volume of $3.28 billion.

Top Crypto Gainer Prices Today

XDC Network

XDC price today was trading at $0.102, marking an 8% increase in the last 24 hours. Its 24-hour low and high were $0.0957 and $0.1051, respectively. The market cap reached $1.5 billion, with a trading volume of $69 million.

BitTorrent

BTT price was the second-top gainer today, rising 7% in the last 24 hours. It was trading at $0.00000125. The market cap reached $1.27 billion, with a trading volume of $117 million.

Worldcoin

WLD price was up by 6%, trading at $2.588. Its 24-hour low and high were $2.414 and $2.792, respectively. The market cap reached $2.24 billion, with a trading volume of $719 million.

Top Crypto Loser Prices Today

Fartcoin

Fartcoin price today was the worst performer, dropping 15% to trade at $1.139. Its 24-hour low and high were $1.133 and $1.39, respectively. The market cap stands at $1.14 billion, with a trading volume of $122 million. According to CoinGape analysts, Fartcoin could reach $2 soon, as crypto prices today suggest a potential rebound.

Ethena

ENA price today was down by approximately 8%, trading at $1.154. Its 24-hour low and high were $1.142 and $1.25, respectively. The market cap reached $3.51 billion, with a trading volume of $474 million.

Fantom

FTM price was down by 7%, trading at $0.77 today. Its 24-hour low and high were $0.766 and $0.8283, respectively.

Besides this, the hourly chart for Bitcoin and major altcoins showed a decline of less than 1%, with Fartcoin down by 3% in the last hour. However, Movement (MOVE) was up by approximately 2% in the last hour. Crypto prices today are showing mixed movement across the market.

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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.





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Ripple CEO Brad Garlinghouse Calls $11B Valuation Outdated Amid XRP Price Surge

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5 hours ago

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January 7, 2025

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Ripple CEO Brad Garlinghouse has declared that Ripple’s previous valuation of $11 billion is now “very outdated,” following a notable surge in XRP price and increased demand for Ripple’s blockchain solutions. 

Speaking during a recent interview, Garlinghouse cited the company’s substantial holdings of XRP, now valued at over $100 billion, as a key factor altering Ripple’s valuation outlook.

Ripple CEO Brad Garlinghouse Calls $11B Valuation Outdated

According to Ripple CEO Brad Garlinghouse the company now has more than $100 billion worth of XRP tokens. This development changes the valuation proposition of the blockchain infrastructure company dramatically. The CEO noted that Ripple’s trading in private markets has been much cheaper to the net asset value of the company than other companies that are linked to cryptocurrencies such as MicroStrategy.

“The total value of the XRP we hold is now greater than $100 billion,” said Garlinghouse. He also compared Ripple’s valuation metrics with MicroStrategy noting that the latter trades at a premium to its assets. ”Ripple has been trading in the private markets at a discount while MicroStrategy has trading at 3x premium to its net asset value,” he said.

Ripple was last valued at $11 billion in early 2024 when the company bought back $300 million worth of shares. Nevertheless, Ripple CEO Brad Garlinghouse stated that such an estimate is no longer relevant to the current financial position of Ripple, thanks to the increasing XRP price and institutional adoption.

XRP price has also seen a significant rise in value, it has risen five times its value before the election periods in late 2024. Ripple’s token has had increased liquidity and trading volume, sometimes even outperforming Bitcoin, as per data from FalconX.

This upsurge is in line with other developments within the cryptocurrency market such as the high probability of a crypto ETF launch and debate on a U.S. based blockchain reserve. Crypto analyst Peter Brandt noted in his recent analysis of XRP’s technical chart that if the current bullish flag pattern would be fulfilled, XRP market cap may hit $500 billion.

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Furthermore, the SuperTrend indicator has just turned bullish on the XRP 12-hour chart for the first time in several months. Analyst Ali Charts pointed out that “The last time the SuperTrend indicator changed direction to the bullish side, XRP rose by 470%.”

Ripple CEO Stance on Company Strategic Focus

Although XRP is gaining popularity in the market, Ripple’s main business is still centered on offering blockchain technologies to financial companies. In the interview, Ripple CEO Brad Garlinghouse restated his company’s focus on the B2B sector including banks, payment providers, and corporates, where Ripple is offering solutions like custody and cross-border payments.

Recently, Ripple announced that it would launch its stablecoin called Ripple USD (RLUSD) with the license from the New York Department of Financial Services (NYDFS). Garlinghouse stressed that the RLUSD will leverage XRP rather than replace it, increasing its liquidity, and opening more possibilities for the utilization of Ripple’s DEX and automated market maker (AMM) functionalities.

The acquisition of Switzerland-based custody firm Metaco which was completed about 18 months ago has also put Ripple in a vantage position to offer its institutional products. The CEO was upbeat on the increased demand of the company’s custody services especially from Tier 1 banks.

Changing Regulatory Environment Fuels Optimism

Ripple’s growth has been supported by changing perceptions in the legal environment. Garlinghouse claimed that the previous several months marked a ‘turning point’ due to the exit of SEC Chairman Gary Gensler and the chance for regulatory certainty under the new administration. 

As a result of the recent changes in the US government’s stance with regard to cryptocurrency innovation, Ripple CEO Brad Garlinghouse said, “The winds have changed.” 

Recently, he also stated that 95% of Ripple’s customers are outside the United States, but he expects the interest to return in the United States in the next few months.

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Kelvin Munene Murithi

Kelvin is a distinguished writer with expertise in crypto and finance, holding a Bachelor’s degree in Actuarial Science. Known for his incisive analysis and insightful content, he possesses a strong command of English and excels in conducting thorough research and delivering timely cryptocurrency market updates.

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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Cardano Price Prediction Points To New ATH as Bullish Breakout Looms

Published

9 hours ago

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January 6, 2025

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Cardano (ADA) price is showing strong signs of a potential breakout as it consolidates near $1.10, sparking optimism among traders. Ali Charts, a cryptocurrency analyst, has highlighted a bullish pennant formation on ADA’s price chart, suggesting an upward move could be on the horizon.

If this pattern plays out, Cardano price could target higher levels, with the possibility of reaching $1.40 in the short term and breaching the previous all time high of $3.10. The cryptocurrency has gained 28% since the start of 2025, supported by growing network activity and increased investor interest.

Cardano Price Prediction Points To New ATH

Cardano’s price is currently forming a bullish pennant, a technical pattern that often predicts a continuation of an uptrend. This pattern is characterized by a sharp price increase, followed by consolidation in a triangular shape.

The resistance level of the pennant is around $1.11, while the support lies near $1.10. If ADA breaks above the upper trendline, traders could expect the price to surge, with a target near $1.40. Ali Charts emphasized that the “Cardano breakout to $3 could be fast and smooth” if bullish momentum strengthens. This ADA price prediction aligns with an ealier analysis by Coingape pointing to a similar price breakout after the formation of an Elliott Wave.

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Technical indicators also support this outlook. The Relative Strength Index (RSI) is at 67, reflecting strong buying activity, though it is approaching overbought levels. Meanwhile, the MACD (Moving Average Convergence Divergence) remains in bullish territory, suggesting continued upward pressure.

Rising Network Activity Boosts Investor Confidence

In addition to technical signals, Cardano’s network activity has been gaining momentum, which could further support its price action. According to data from DeFiLlama, the Total Value Locked (TVL) on the Cardano blockchain has surged to $595 million, marking a 33% increase since the start of the year.

The rise in TVL indicates growing interest in Cardano’s decentralized finance (DeFi) ecosystem, which is attracting both retail and institutional investors. Transaction volumes have also increased, with the metric reaching $10.64 million, signaling higher on-chain activity.

Moreover, the number of funded wallets on the Cardano network has grown significantly. Since December 19, over 10,000 new wallets have been added, bringing the total to 4.38 million. This influx of new investors is often seen as a positive indicator of market sentiment.

ADA Price Resistance Levels and Potential Targets

While Cardano price prediction is showing bullish momentum, it faces key resistance levels that must be breached to sustain its uptrend. The immediate resistance is at $1.20, as identified by Donchian Channels.

Breaking above this level could pave the way for a move toward $1.34, which corresponds to the 1.618 Fibonacci extension.

If ADA continues to attract buying pressure and breaks out of its current consolidation, it could eventually target higher price levels even as high as $7. However, failure to surpass $1.20 could lead to a pullback, with $1.00 serving as a critical support level. A breach below this support could expose Cardano to further declines, potentially testing $0.92.

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Kelvin Munene Murithi

Kelvin is a distinguished writer with expertise in crypto and finance, holding a Bachelor’s degree in Actuarial Science. Known for his incisive analysis and insightful content, he possesses a strong command of English and excels in conducting thorough research and delivering timely cryptocurrency market updates.

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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