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Dec 30, 2023 at 23:41 // Price Author Coin Idol The price of Shiba Inu (SHIB) has fallen above the 21-day SMA. Price Analysis by Coinidol.com. Shiba Inu (SHIB) price long term prediction: bullish The price of Shiba Inu fell after its rejection on December 17. On December 23, buyers tried to push the price to a high of $0.00001127 but failed. The current rise in crypto price is expected to increase if it stays above the 21-day SMA. SHIB is expected to rise and retest its recent high of $0.00001187. The uptrend will end if the bearish momentum falls bel...

Disclosure: The views and opinions expressed here belong solely to the author and do not represent the views and opinions of crypto.news’ editorial. Crypto derivatives have been enjoying widespread popularity among investors, especially institutional clients. In July 2023, their trading volume on centralized exchanges surged 13% to $3.12 trillion compared to the previous month, meaning derivatives account for 69% of total cryptocurrency volumes, which also includes spot market trades. You might also like: Crypto 2023 in review: the most significant events that shaped the industry Yet, despite the growth of crypto derivatives and their potential to onboard institutional investors, regulatory complexities have introduced numerous challenges for market players. Regulatory landscape for crypto derivatives While traditional derivatives are regulated in most jurisdictions, many nations lack the appropriate legislation for their digital asset variants. Regulatory uncert...

With 2023 drawing to a close, investors have benefitted from the good performance of the stock market. Conversely, many commodities have experienced gains in value. Investors might wonder which commodities they should invest in in 2024 while considering the ongoing global developments, weather conditions, inflation, and supply and demand dynamics. Finbold utilized AI-driven solutions, ChatGPT from OpenAI, that considers all of these factors and provides a list of 5 commodities that could potentially offer a good return on investment for traders in 2024. While it can provide general insights, it is essential to note that it cannot predict specific events that may influence the price of the commodity but advises diversification or a mix of commodities that cover different sectors to minimize risks. Precious metals  Cryptocurrency Insider Insights: When to trade Solana after its 500% run Cryptocurrency Will SHIB reach 1 cent in 2024? ...

Ethereum’s network was outclassed by a layer-2 scaling solution in monthly transactions for the first time. zkSync processed more transactions than the Ethereum mainnet in the past 30 days, according to L2beat data. The network recorded 34.7 million transactions within a month, about 500,000 more than Ethereum, which handled 34.2 million in the same period.  Arbitrum’s network came third after zkSync and Ethereum with 31.4 million monthly transactions as of reporting time. Top 3 chains for Ethereum transactions | Source: L2Beat zkSync’s triumph marked the first time an L2 network surpassed Ethereum’s mainnet for monthly transactions . This was likely achieved thanks to the growing inscription trends from the Bitcoin network following developments by Casey Rodarmor and Domo, a pseudonymous blockchain builder. L2beat’s dashboard showed that zkSync saw its largest single-day transaction uptick on Dec. 16, the same day inscriptions were enabled on the L2 scaling network. ...

In an X thread, Levana said the attacker succeeded in draining approximately 10% of its liquidity pools. Decentralized finance startup Levana Protocol suffered a security exploit, resulting in a loss of $1.14 million. The project’s statement on X revealed that the exploit “began 14 days ago,” orchestrated by seven wallets believed to be controlled by a single bad actor. Levana stated that the attacker initially drained around 4% of its liquidity providers, later escalating to an additional 5% “until the protocol was closed from new positions being opened.” Important Update on Levana's Security Situation! There was an oracle attack on Levana impacting ~10% of the LP. The issue has been fixed and opening positions will relaunch next week. Trader profits, closing positions, withdraws and trigger orders are working as expected. — Levana Protocol (@Levana_protocol) December 27, 2023 You might also like: Thunder Terminal suffers hacker att...

The stablecoin issuer Tether has minted $8 billion worth of USDT on Ethereum (ETH) and Tron (TRX) in the past three months, according to the crypto tracker Lookonchain. Lookonchain notes the Tether treasury just minted $1 billion in USDT on Ethereum on Monday. Source: Lookonchain / X Tether CEO Paolo Ardoino says the recent minting was an “inventory replenish” on the Ethereum Network. “Note this is an authorized but not issued transaction, meaning that this amount will be used as inventory for next period issuance requests and chain swaps.” USDT is the largest stablecoin by market cap and aims to maintain a 1:1 peg to the US dollar. Earlier this month, Ardoino announced in a letter to lawmakers that Tether was onboarding federal law enforcement agencies like the United States Secret Service (USSS) and the Federal Bureau of Investigation (FBI) as a means of combating crime. “Tether continues to play a critical role in assisting law enfor...

A widely followed cryptocurrency analyst and trader is predicting that one under-the-radar altcoin will n early triple in value. The analyst pseudonymously known as Kaleo tells his 612,400 followers on the social media platform X that scaling platform Celer Network (CELR) could break out from an enduring accumulation phase. “The DOT (Polkadot) ecosystem is ripping across the board. Grabbed a bag of CELR to get some exposure. Looking for a squeeze out of this base range it’s been accumulating in since spring of 2022, similar to the move it had in early 2021.” Source: Kaleo/X Looking at his chart, the trader suggests that CELR could soon soar to around $0.0700. CELR is trading for $0.02336 at time of writing, down n early 1% in the last 24 hours. As for the entire crypto market, Kaleo is predicting a bullish 2024 for the asset class as Bitcoin’s (BTC) strong rally this year appears to have inspired the strong performance of many altcoins as of late...

The Artificial Intelligence (AI) run has propelled competition among developers and businesses in 2023. OpenAI’s flagship product, ChatGPT, and Google’s (NASDAQ: GOOGL) Bard are competing examples. Within AI’s popularity rise through this ending year, Finbold has been testing these tools’ capacities to make accurate crypto prediction s. In this context, we published multiple stories with price insights and forecasts about some of the leading crypto currencies in the market. Notably, ChatGPT has generally provided more loose predictions, while Google Bard favored tightening its ranges. In particular, when asked about a cryptocurrency price for the start of 2024, the AIs have diverged from their predictions. It is important to understand that each crypto price prediction story was written by different authors using different prompt strategies. This inevitably leads to divergent results, even for the same cryptocurrency and AI.  ChatGPT’s and Google Bard’s price predictions for ...

As the year ends, Bitcoin (BTC) maintains a robust position, trading comfortably above the $40,000 support zone after lingering in a consolidated phase for the part of 2023. This upward trend is primarily fueled by anticipation surrounding the potential approval of a spot exchange-traded fund (ETF). Looking ahead to the new year, Bitcoin’s performance will be significantly influenced by various potential bullish and bearish catalysts. Factors such as increased institutional adoption, upcoming halving event, regulatory changes, and broader macroeconomic trends will be pivotal in shaping the cryptocurrency’s trajectory. As things stand, there is overall curiosity about how Bitcoin will trade in the future and whether it will sustain the current momentum. In this line, to gain insights into Bitcoin’s potential trajectory, Finbold analyzed BlockchainCenter’s rainbow price chart—a tool illustrating the cryptocurrency’s historical movements about different mo...

Cosmos (ATOM) is among the cryptocurrencies capitalizing on the recent market rally, recording significant gains and breaching key resistance zones. After surpassing the $11 resistance zone, the lingering question is how far ATOM can rally, especially with the new year beckoning. To gain insights into how ATOM will likely trade on the first day of 2024, Finbold consulted OpenAI’s generative artificial intelligence (AI) tool, ChatGPT, to present speculative bullish and bearish scenarios regarding the valuation of ATOM. Initially, the tool acknowledged the challenge of providing a precise price for ATOM on January 1, citing the market’s volatility. Bullish scenario In a bullish scenario, the tool pointed out that ATOM stands to benefit from various contributing factors. For instance, increased adoption of the Cosmos network, coupled with strategic partnerships with prominent projects, has the potential to amplify demand for ATOM.  Successful implementation of upgrade...

The Hong Kong Stock Exchange has accepted the Hong Kong Securities and Futures Commission’s decision to list crypto spot ETFs. The Hong Kong Stock Exchange’s (HKEX) Head of Equities Product Development, Brian Roberts, highlighted the exchange’s readiness to capitalize on the opportunities presented by ETF investing. Roberts noted that HKEX is well-prepared to work closely with issuers and other stakeholders to introduce this new ETF product. He emphasized that this development will add more diversity and choice to the market, further enhancing Hong Kong’s attractiveness and competitiveness as an international financial center. You might also like: SEC met multiple spot Bitcoin ETF applicants on Dec. 21 The Hong Kong Stock Exchange said it welcomes the announcement by the Hong Kong Securities and Futures Commission, making Hong Kong the first market in Asia to allow the listing of virtual asset spot ETFs, strengthening Hong Kong's position as the leadi...

On Friday, December 22, Chinese regulators introduced new draft rules for online video games, zeroing in on players’ spending amid a broader crackdown on the sector. Among the unveiled rules were those that require that game coin trading services must use real-name central bank digital currency (CBDC) wallets . China sets spending limits and bans daily login rewards  According to the draft, game coin trading service providers will be required to use the true names of their digital renminbi (RMB) wallets and must not offer anonymous services. Furthermore, the regulators banned services that allow players to exchange game coins for fiat.  The draft, published by the National Press and Publication Administration (NPPA), also said online games will have to impose spending limits and get rid of daily login rewards. Additionally, the rules proposed prohibiting significant tips for rewards to players who livestream their games, and also banning online games from providing pro...

The total value locked (TVL) in DeFi has surpassed countries’ GDPs with more than $52 billion invested. Infrastructure layer-1 blockchains are the body of this system, sustaining this value. Meanwhile, decentralized exchanges (DEX) are the hearts that keep the body alive, connecting every asset and protocol. Essentially, a DEX allows cryptocurrency investors to trade tokens of its ecosystem in a decentralized manner. There are single-chain and multi-chain decentralized exchange s built under each infrastructure’s rules. In particular, three decentralized exchange protocols shine amid their competitors: Uniswap (UNI), PancakeSwap (CAKE), and Orca (ORCA). Finbold retrieved data from DefiLlama on December 21 that justify these picks for 2024. DEXes TVL rankings. Source: DefiLlama Leading decentralized exchange: Uniswap (UNI) Cryptocurrency The biggest crypto winners and losers of 2023 Cryptocurrency Best DeFi projects to invest in for 2024...