Lưu trữ hàng tháng: Tháng sáu 2024

Phân tích

Cat in a Dogs World (MEW) soars, but gains could be brief

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Cat in a Dogs World (MEW) price continued its remarkable comeback after some good news from Binance. It soared for three straight days, reaching a high of .0050, its highest level since June 11th. It has jumped by over 42% from its lowest point on Friday.

Cat in a Dogs World, a popular Solana meme coin with a market cap of over 2 million soared on Monday as most cryptocurrencies dipped.This recovery happened as investors cheered an announcement by Binance, the bigges t crypto exchange in the world. 

In a statement, Binance said that it would list its token in its perpetual futures marketplace. As a result, users will be able to trade its futures with up to 50x leverage. In most cases, cryptocurrencies rise after being listed by one or more tier-1 exchanges. 

Cat in a Dogs World is a meme coin that was launched a few months ago to compete with popular dog-themed tokens like Shiba Inu, Floki, and Baby Doge Coin. 

At its peak, MEW had a market cap of over 6 million, making it one of the biggest meme coins in the industry. Like other tokens, it has pulled back and erased most of its gains as sentiment worsened.

Still, data by DEXTools shows that it has over 183k holders, making it one of the most held meme coins in the industry. 

Cat in a Dogs World price forecast

The four-hour chart shows that the MEW price bottomed at .0028 on May 20th as the meme token sell-off intensified. It has now rebounded and retested the crucial resistance point at .0050.

The token has also bounced back above the 25-period and 50-period Exponential Moving Averages (EMA). It has also soared above the Woodie pivot point and entered the Ichimoku cloud indicator. 

Oscillators like the Relative Strength Index (RSI) and the MACD have also pointed upwards, with the RSI nearing the overbought level.

Therefore, the Cat in a Dogs World token price will likely continue rising as buyers target the first resistance at .005500. It will then resume the downward trend as the Binance listing hype fades.

Tổng hợp và chỉnh sửa: ThS Phạm Mạnh Cường
Theo Crypto News

Bitcoin

Bitfarms stock: analyst reiterates Buy rating and $4 price target

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HC Wainwright has reiterated a buy rating with a target price of for the Bitfarms (NASDAQ:BITF) stock.

According to HC Wainwright analyst Mike Colonnese, Bitfarms is currently one of the “most attractively valued stocks in BTC mining.”

The company’s indication that it’s open to a sale if that maximizes shareholder value suggests that any successful bid could come at a hefty premium compared to where BITF currently trades.

Colonnese, who initiated coverage for the Bitcoin mining firm’s stock early this month, issued the bullish forecast for BITF in a research note published on Monday, June 17.

Analysts reiterate buy rating for Bitfarms stock

HC Wainwright analyst Mike Colonnese says that Bitfarm is one of the most undervalued publicly traded Bitcoin miners.

The analyst sees Bitfarm’s recent agreement for a .7 million deal in an all-stock transaction for 120 MW of power as a pointer to the company’s robust growth initiatives.

Shares of Bitfarms rose 15% when the company announced its expansion efforts last week. As reported, the miner’s agreement will see it bring up to 120 MW of power online via the new site in Sharon, Pennsylvania.

The above agreement will see Bitfarms add 0.6 EH/s to its capacity in the fourth quarter of 2024 and a total of 8 EH/s in the second half of 2025.

Another 6 EH/s will come online in 2025 via the recently announced 100 MW expansion at Yguazu. Bitfarm’s end of year projection for 2024 is 21 EH/s management’s guidance for 35 EH/ s by the end of 2025.

“Owned and operated infrastructure expected to grow to ~650 MW in 2025. Factoring in the new development site in Sharon, PA, we estimate BItfarms is now poised to increase total power capacity by 170% to 648 MW in 2025, up from 240 MW operating today,” the analyst wrote.

Risks

Despite the recent market upheavals and the Riot takeover saga, the stock’s price is up 30% in June and nearly 24% up in the past five days. BITF is up 5.7% year-to-date.

However, HC Wainwright suggests there might be risks to BITF hitting the price target.

These would include volatility in Bitcoin prices, delays at Bitfarms’ new mining facilities and a potential impact from shareholder dilution resulting from equity capital raises.

Tổng hợp và chỉnh sửa: ThS Phạm Mạnh Cường
Theo Crypto News

Altcoin

MEV bot ‘arsc’ rakes in $30m from Solana users in two months

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In just two months, the infamous maximal extractible value (MEV) sandwich bot “arsc” accumulated roughly million by exploiting Solana users via MEV attacks.

MEV sandwich attacks involve an attacker strategically placing their own transactions around a victim’s transaction, manipulating prices to take advantage of the situation. This strategy allows them to profit by purchasing the victim’s tokens at a discounted price below their market value and swiftly selling them in the same block.

On Jun. 15, Ben Coverston, the founder of cryptocurrency company MRGN Research, shed light on the activity of this particular sandwich bot, “arsc,” which has been secretly profiting from unaware Solana network users.

Coverston observed that the bot, primarily operating from a wallet address labeled “9973h…zyWp6,” appears to be using a cold storage strategy to protect its funds.

“It is quite inactive and, judging by its behavior, is almost certainly a locked-down, cold wallet.”

Ben Coverston

This wallet now houses more than million in total funds, including roughly million in Solana tokens and .1 million in Circle’s USD Coin (USDC) stablecoin. Furthermore, the wallet also contains minor amounts of Kabosu (KAB), Cringe Coin (CRINGE), and Wrapped Solana (wSOL).

Coverston noted that another significant wallet, identified as “Ai4zq…VXKKT,” is considerably more active in decentralized finance activities, adding that the wallet is steadily converting SOL to USDC via Jupiter’s dollar-cost averaging (DCA), a feature that allows users to place orders at specific price levels to minimize slippage.

The founder of MRGN Research pointed out that the wallet holds “significant” positions in Kamino and other liquidity-staking tokens, totaling over .9 million, primarily composed of non-SOL tokens.

Coverston also pointed out a third wallet address, identified as “BCbrp…vi58q,” which he alleges serves as arsc’s “main SOL bank.” These three wallets collectively hold tokens valued at .8 million at current market prices, indicating efforts by arsc’s operator to remain low-profile.

“It seems they don’t enjoy the attention, as they’ve recently gone to great lengths to hide their activities and profits.”

Ben Coverston

MEV sandwich bots use advanced algorithms to identify and take advantage of such profit possibilities. Similar activities have been noted among maximal extractable value bots on Ethereum as well. For example, earlier this year, an MEV arbitrage bot operator — known as 2Fast — made a profit of .8 million from a single transaction bundle.

Under 2Fast’s direction, the bot increased an initial investment of 703 SOL, valued at nearly ,000, to a stunning 19,035 SOL, worth approximately .9 million. An additional 890 SOL was graciously awarded to Figment, a well-known network validator.

As the activities of MEV bots continue to draw attention, regulatory bodies are starting to take notice. The European Securities and Markets Authority (ESMA) is currently investigating MEV as a potential form of illegal market abuse in its proposed technical standards for the Markets in Crypto-Assets (MiCA) regulation.

Tổng hợp và chỉnh sửa: ThS Phạm Mạnh Cường
Theo Crypto News

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Altcoin

Crypto liquidations rally 78% with ETH leading the charts

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Cryptocurrency liquidations have seen a sudden increase over the past day. Ethereum (ETH) is still leading the charts.

According to data provided by Coinglass, the total crypto liquidations surged by 78.8% in the past 24 hours, surpassing the million mark. The increase in liquidations came while the total cryptocurrency open interest recorded a 0.35% decline in the same timeframe — currently hovering at million.

Crypto liquidations map – June 17 | Source: Coinglass

Per a crypto.news report on Jun. 16, the number of crypto liquidations plunged by 80% — dropping to .4 million — in just one day as the broader market was consolidating with a total market capitalization of .54 trillion.

Here’s the data from Coinglass: 

  • .9 million worth of long positions have been liquidated.
  • .6 million worth of short positions were liquidated.
  • Ethereum dominates the list with over million in liquidations — .6 million longs and .5 million shorts.
  • Bitcoin (BTC) liquidations reach .2 million — .15 million longs and .09 million in shorts.
  • Binance is dominating the scene with .7 million in liquidations with longs accounting for 57.6% of this tally.
  • OKX saw million in liquidations, having a 30% share of the market.

According to data provided by CoinGecko, the increased liquidations come as the global crypto market capitalization records a 0.4% decline in the past 24 hours — falling from .549 trillion to .536 trillion.

Bitcoin has been consolidating around the ,000 mark over the past three days, while Ethereum hovers around the ,550 mark in the same timeframe. 

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Theo Crypto News

Pháp Lý

South Korea to reconsider hundreds of crypto listings under new law: report

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South Korea will review the listings of over 600 tokens on domestic crypto exchanges next month under new regulatory measures.

South Korea‘s financial authorities will begin re-evaluating over 600 cryptocurrency listings on domestic trading platforms starting in July, following the implementation of the Virtual Asset User Protection Act, Korean news media Dnews reports, citing sources familiar with the matter.

The Korean financial regulators are reportedly finalizing practices for crypto listings, which are set to be enforced starting Jul. 19 under the new law. The regulations will apply to nearly three dozen registered crypto exchanges, including Upbit, Bithumb, Coinone, Korbit, and Gopax, which will conduct initial reviews to determine whether to maintain or delist each token.

Under the new regulatory framework, crypto exchanges must establish a review committee to evaluate various factors such as the reliability of the issuing entity, user protection measures, technology and security standards, as well as regulatory compliance.

Additional criteria include the issuer’s capabilities and reputation, past business history, information disclosure, operational transparency, total supply and circulation, market capitalization, and potential conflicts of interest between a trading platform and token holders.

The report notes that tokens issued by decentralized autonomous organizations (DAOs) may not meet standard requirements, while tokens that have been traded normally for over two years in regulated markets such as the U.S., U.K., France, Germany, Japan, Hong Kong, Singapore, India, and Australia will be subject to a less strict review process. Additionally, crypto exchanges will be banned from accepting any payments in return for listing a token.

Subsequent reviews will occur quarterly, with tokens deemed “problematic” will be designated as cautionary and potentially delisted, the report says. Crypto exchanges will have a six-month period to assess whether to continue supporting existing crypto listings, followed by maintenance reviews every three months.

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Theo Crypto News

Altcoin

Ethereum founder Vitalik Buterin supports TiTok as potential blockchain app

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According to Ethereum (ETH) co-founder Vitalik Buterin, the new image compression method Token for Image Tokenizer (TiTok AI) can encode images to a size large enough to add them onchain.

On his Warpcast social media account, Buterin called the image compression method a new way to “encode a profile picture.” He went on to say that if it can compress an image to 320 bits, which he called “basically a hash,” it would render the pictures small enough to go on chain for every user.

The Ethereum co-founder took an interest in TiTok AI from an X post made by a researcher at the artificial intelligence (AI) image generator platform Leonardo AI.

The researcher, going by the handle @Ethan_smith_20, briefly explained how the method could help those interested in reinterpretation of high-frequency details within images to successfully encode complex visuals into 32 tokens.

 Buterin’s perspective suggests the method could make it significantly easier for developers and creators to make profile pictures and non-fungible tokens (NFTs).

Solving previous image tokenization issues

TiTok AI, developed by a collaborative effort from TikTok parent company ByteDance and the University of Munich, is described as an innovative one-dimensional tokenization framework, diverging significantly from the prevailing two-dimensional methods in use. 

According to a research paper on the image tokenization method, AI enables TiTok to compress 256 by 256-pixel rendered images into “32 distinct tokens.”

The paper pointed out issues seen with previous image tokenization methods, such as VQGAN. Previously, image tokenization was possible, but strategies were limited to using “2D latent grids with fixed downsampling factors.”

2D tokenization could not circumvent difficulties in handling the redundancies found within images, and close regions were exhibiting a lot of similarities.

TiTok, which uses AI, promises to solve such an issue, by using technologies that effectively tokenize images into 1D latent sequences to provide a “compact latent representation” and eliminate region redundancy.

Moreover, the tokenization strategy could help streamline image storage on blockchain platforms while delivering remarkable enhancements in processing speed.

Moreover, it boasts speeds up to 410 times faster than current technologies, which is a huge step forward in computational efficiency.

Tổng hợp và chỉnh sửa: ThS Phạm Mạnh Cường
Theo Crypto News

Phân tích

Top cryptocurrencies to watch this week: ETH, DAO, ELON

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The cryptocurrency market experienced a predominantly bearish trend last week. Bitcoin (BTC), the leading asset, saw its price decline by 4%. Most major tokens followed suit with quite similar movements, although a few lesser-known cryptocurrencies managed to defy the downturn.

Amid widespread market pressure, the global cryptocurrency market cap decreased by 0 million, representing a 4.7% decline. It dropped from .54 billion at the start of the week to .42 billion by the week’s end.

Here are our picks for some of the top cryptocurrencies to watch this week, based on their recent performances:

ETH, DAO and ELON prices – June 16 | Source: Santiment

ETH retests lower Bollinger Band

Following a drop two weeks back, Ethereum (ETH) began last week with a slight uptick. It close June 9 above ,700 with a mild 0.69% increase.

However, this rise met fierce resistance. ETH recorded price slumps in the days that followed, leading to a retest of the lower Bollinger Band. The last time Ethereum retested the lower Bollinger Band was during a downturn in mid-May. 

ETH dropped 4.6% on June 11, marking its largest intraday decline since April 30. This was due to a sharp decline in the broader market ahead of last week’s FOMC meeting. ShayanBTC, a CryptoQuant analyst, projected more dips for ETH if its bearish futures market metrics do not improve. 

These further drops materialized, leading to a retest of ,362 on June 14. However, a mild rebound has pushed ETH back above ,500. Despite the renewed bullishness, the crypto asset must close above the 20-day SMA (,690) to slip out of the bearish trend. 

DAO hits yearly low

DAO Maker (DAO) was one of the biggest losers last week, witnessing a 7.9% price slump despite a bullish start to the week. DAO’s decline, which trailed the bearish trend in the global crypto market, saw the asset relinquish the .6 territory for the first time this year.

After a 1.97% increase on June 9, DAO saw four consecutive intraday losses, slumping by 10% within this period and breaking below .60 to .5707, its lowest price this year. The last time DAO traded underneath .60 was in October 2023.

However, due to the sharp drop, DAO’s daily Relative Strength Index (RSI) has slipped to 25.61, suggesting that the asset is currently undervalued at the current .5822 price. Consequently, a bullish trend reversal could be in the works.

ELON records 7% weekly gain

Dogelon Mars (ELON) is our third pick on this week’s top cryptocurrencies list.

It was one of the few assets to defy the broader market downtrend, having recorded a 7% weekly gain. While the market saw a mild rise on June 9, ELON gained by a massive 9.49%.

However, this surge met a roadblock at the .0000001985 high, resulting in two days of consecutive declines. The asset saw mixed trends, witnessing declines and upswings, but leveraging a growth in investor interest to remain above .00000018.

Despite the uptrend, ELON remains significantly below the 50-day EMA at .0000002018. It collapsed below this pivotal moving average during the downtrend two weeks back. The asset would need to recover the .0000002 region to have a chance at flipping its momentum to bullish.

Dogelon Mars has no direct relation to Tesla CEO and X owner Elon Musk. The ELON token now has more than 151,600 holders, according to Etherscan.

Tổng hợp và chỉnh sửa: ThS Phạm Mạnh Cường
Theo Crypto News

Altcoin

Crypto liquidations plunge over 80% as the market consolidates

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Cryptocurrency liquidations declined 80.26% as the broader market consolidates amid low volatility and neutral sentiment.

According to data provided by Coinglass, total crypto liquidations currently sit at .4 million — in the past 24 hours. This shows that the broader cryptocurrency market hasn’t seen big movements.

Crypto liquidations map – June 16 | Source: Coinglass

Here’s what to know:

  • Long positions are worth roughly .8 million
  • Short trading positions, .5 million in liquidations.
  • Ethereum (ETH) leads with million in liquidations — .5 million longs, .5 million shorts.
  • Notcoin’s (NOT) liquidations came in third after a group of small-cap crypto assets, reaching .9 million
  • Bitcoin (BTC), secured the fourth spot reaching .25 million — with .44 million worth of long positions liquidated in 24 hours.
  • Data shows that almost half of the liquidations, million, come from Binance, the largest crypto exchange by trading volume.
  • Seychelles-based exchange OKX has the second spot with million in liquidations
  • OKX accounts for over 30.7% of the global liquidations.
  • Total cryptocurrency open interest increased by 0.2%, reaching .3 billion.

The global crypto market capitalization currently hovers at around .54 trillion, according to CoinGecko. 

BTC and ETH have been consolidating around the ,000 and ,500 marks over the past 24 hours. Both of the leading cryptocurrencies have been witnessing small movements as the broader market weathers neutral sentiment.

Tổng hợp và chỉnh sửa: ThS Phạm Mạnh Cường
Theo Crypto News