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Genesis transferred $2.12B in BTC and $838M in ETH as part of bankruptcy restructuring. Genesis will return $3B to creditors, covering 77% of customer claims. Digital Currency Group will not receive any payout from Genesis’s bankruptcy plan. Over the past three days, Genesis Trading has moved approximately 32,256 BTC, valued at around $2.12 billion, and 256,775 ETH, worth about $838 million, to various addresses. This substantial transfer of assets is seen as part of the company’s efforts to manage creditor repayments under its ongoing financial restructuring plan. Genesis Trading has transfer red 32,256 $BTC($2.12B) and 256,775 $ETH($838M) to multiple addresses in the past 3 days and may be undergoing bankruptcy proceedings to repay debts. And #GenesisTrading transfer red 13,291 $BTC($830.7M) to #Coinbase between Jun 12 and Jul 15, during… pic.twitter.com/EpLdn5PUJn — Lookonchain (@lookonchain) August 2, 2024 Genesis Trading settlement plan has been

A widely followed cryptocurrency analyst is issuing a warning on a leading memecoin while outlining the path forward for Ethereum (ETH) and XRP. The analyst pseudonymously known as Credible Crypto tells his 405,000 followers on the social media platform X that the memecoin Pepe (PEPE) has held up “quite well” amid a wider market downturn. The pseudonymous analyst, however, says he is bearish on Pepe over the long term. “I would not be surprised if we see another leg up to take some untapped liquidity before the larger move down continues.” Based on Credible Crypto’s chart on the four-hour time frame, it appears that the pseudonymous analyst is suggesting that Pepe could appreciate by about 38% from the current price to around $0.0000145 before plunging to under $0.000005. Source: Credible Crypto/X Pepe is trading at $0.0000104 at time of writing. Turning to Ethereum, the widely followed analyst says that he is bearish on the second-largest crypto asset by mar

Ripple (XRP) is one of the most controversial yet intriguing cryptocurrencies in the crypto realm. With Ripple forging new milestones with each passing second, the XRP token is also inching towards breaking its current price juncture of $0.60. At the same time, Ripple ’s former global head of infrastructure innovation, Dilip Rao, was recently seen making comments on how XRP is not meant for retail, explaining another use case for the token to explore. Also Read: Ripple (XRP) And Binance Coin (BNB) Price Prediction For August 2024 Former Ripple Global Head of Infrastructure: XRP Designed for Institutional Investors Source – Crypto Adventure At a recent Global Islamic Economy Summit, Dilip Rao, former Global Head of Infrastructure Innovation at Ripple, made exclusive comments about Ripple’s adoption. When asked about investors’ recent purchase of XRP for short-term gains, Rao reiterated that this is not the token’s real use. The token is meant for nuanced institutional development, w

According to statistics from IntoTheBlock, 5.9 trillion Shiba Inu (SHIB) tokens are presently for sale, with an average price of $0.000017. The sale would liquidate about $100 million worth of SHIB tokens. The platform also shows that traders have placed buy orders for 3.4 trillion SHIB tokens, leaving 2.5 trillion tokens in excess in the market. Also Read: Shiba Inu: You Can Now Be A SHIB Millionaire For Just $16 Shiba Inu (SHIB) Market Overview Potential Price Dip Source: IntoTheBlock The increase in supply could potentially lead to a price dip for the popular meme coin. SHIB is currently down by: 3.6% in the daily charts 2.4% in the weekly charts 15.3% in the 14-day charts 7.5% over the previous month The asset has struggled to gain momentum since March when it hit a two-year peak of $0.000036. Source: CoinGecko Market Slump Reasons The current market slump is likely because Bitcoin (BTC) falls below $65,000. On the other hand, BTC’s dip could be due to fears around the Mt. Gox reim

PEPE bulls have encountered challenges in their attempts to push up the meme cryptocurrency’s price over the past week. Notably, PEPE has experienced a decline of approximately 4% in the last 24 hours alone, with a more substantial drop of 6.5% over the course of the past seven days. The selling sentiment surrounding PEPE has increased significantly since the middle of July. Throughout this period, the meme coin has struggled to break above resistance at $0.0000126, facing repeated failures each time it approached this critical price point.  A deeper Analysis of market behavior reveals that this prevailing selling sentiment c an be largely attributed to a notable shift in the composition of PEPE investors. There has been a strong increase in the number of short-term holders, accompanied by a corresponding decrease in long-term holders. 

Although some assets in the cryptocurrency market are slowing down, things seem to looking optimistic for Solana (SOL), which has been recording gains across multiple time frames, and might continue to push higher in the following weeks, perhaps even to the price of $600. Specifically, Solana has broken out from the re-accumulation structure and looks ripe to push higher, upon which it “likely soon enters a mania- like stage” and scales out aggressively, according to the Analysis shared by pseudonymous crypto trading expert Jelle in an X post on July 31. Solana price prediction 2024: How high can Solana go? As the crypto analyst further explained, Solana’s final target, once it breaks above its all-time highs (ATHs) and proceeds “scaling out aggressively,” will be around $600, which, according to his chart pattern Analysis , could happen sometime in the next couple of months. Picks for you

The United States Securities and Exchange Commission (SEC) has stepped back on the accusation that some cryptocurrencies are illegal securities. In a recently filed amendment in Binance‘s case, the SEC dismissed the ruling over the legality of these tokens, including Solana (SOL). Previously, the U.S. regulator listed ten cryptocurrencies as securities in a lawsuit against Binance, the largest crypto exchange. According to the enforcement action, the SEC classified Solana as an unregistered security, accusing Binance of illegally supporting SOL. This regulation-by-enforcement strategy has become the SEC’s standard against the cryptocurrency market, creating regulatory uncertainty and raising concerns. Now, the Securities and Exchange Commission’s pivot on Binance’s case suggests the agency is changing its modus operandi, sparking optimism. Picks for you

The Book of Meme price surged 9% in the last 24 hours to trade at $0.01127 as of 4.40 a.m. EST on trading volume that jumped 30% to $393.9 million. BOME is a popular meme coin that aims to immortalize memes by recording them on the blockchain. The project has been one of the highest gainers ever since it launched, and it used every opportunity to grow and boost in price. Top mover second day running for $BOME Doing more in 24h volume than all other meme coins outside of the top 3 💡 pic.twitter.com/mYsHRgfhWK — WATASHI CRYPTO (@watashicrypto) July 29, 2024 Even right now, while many meme coins and other cryptos plunge, BOME is seeing a price surge that has taken it to the highest point it has seen in the past month. Book of Meme did not report any major developments that would influence its price recently, so the surge that it is currently experiencing likely comes from traders’ own bullishness on the project. Book of Meme Price Prediction The Book Of Meme price skyrocketed o

Ripple ’s XRP token seems to be following the larger market rebound, rallying 0.9% in the daily charts, 13.7% in the 14-day charts, and 28.2% over the previous month. The latest market recovery is likely due to Bitcoin (BTC) inching closer to the $70,000 mark. BTC’s rally, on the other hand, is likely due to Donald Trump making bullish comments on the original cryptocurrency at the 2024 Bitcoin conference. There is some speculation that Trump might start a Bitcoin reserve policy if he comes to office. Also Read: Here’s When XRP Will Climb Above $1 Again How to be a millionaire when Ripple’s XRP hits $1.5? Source: Reddit To have a million dollars worth of XRP at $1.5 per coin, you will need about 666,666.66 coins. The price of 666,666.66 XRP right now is about $400,000. If XRP hits $1.5, your investment would have grown by about 150%. The question now becomes when will XRP hit $1.5. One of the most significant barriers to XRP’s price is the ongoing lawsuit between the SEC and Ripple . T

Fuse Network has announced that the Consensus Contract on the Flash Testnet network is now live, as per the latest updates shared with Finbold on July 29. Dedicated to advancing the network’s capabilities, stability, and decentralization, Fuse is likewise introducing several key updates, including a new maximum stake requirement for validators, a deflationary token model , and the integration of Polygon’s Chain Development Kit (CDK).  zkEVM Layer 2 Network  The transition to a ZK-powered Layer-2 (L2) network using Polygon CDK is expected to boost the network’s scalability, security, and interoperability.  Picks for you Nikki Haley’s net worth revealed: How much is the former South Carolina governor worth? 2 hours ago China is ‘happy t