Dogecoin Plummets After Elon Musk Quits Twitter: Is Now the Time to Buy?
• Elon Musk announced that he would resign as the CEO of Twitter as soon as he finds an appropriate replacement. Dogecoin’s price experienced another sell-off this week as a result. • Dogecoin remains closely tied to Musk, who is a fan of the meme-based token. Traders may wish to enter their long positions after the Moving Average Convergence Divergence (MACD) indicator makes a clear divergence above the signal line. • Dogecoin must make a clean break above all the major moving averages and move toward and above $0.10 in order for its price to be pushed higher. Dogecoin (DOGE) has been on a roller coaster ride over the last few months, with its price experiencing an impressive rally and a steep sell-off this week. The meme-based cryptocurrency has been largely influenced by the tweets and comments from tech mogul Elon Musk, who has publicly declared himself a fan of…
“Solana Price Flat After Sam Bankman-Fried Arrest: Presales Offer Potential Gains”
• Sam Bankman-Fried’s arrest has left the Solana price flat in the past 24 hours, with the altcoin down 14% in the last week and 67% since the collapse of FTX. • Despite the collapse of FTX, Solana development activity has been fairly stable and its network health remains intact. • Presales have had a good year in 2022, with altcoins such as TAMA, LBLOCK, and IBAT rising as high as 1,800%, 6,000%, and 3,000%, respectively. Three of the newest presales to watch are FightOut (FGHT), Dash 2 Trade (D2T), and C+Charge (CCHG). The news of former FTX CEO Sam Bankman-Fried entering FBI custody and being extradited to the United States has had a major impact on the Solana price. The altcoin has remained flat in the past 24 hours, trading at $12.09, a 14% decline from a week ago and a 67% drop since the collapse of FTX in…
“India Leads the Way in Central Bank Digital Currency Innovation”
• The governor of the Reserve Bank of India (RBI), Shaktikanta Das, has suggested that cryptocurrencies should not be regulated but rather banned completely. • India is one of an increasing number of countries working on their central bank digital currencies (CBDCs). • The Central Bank announced that India would undertake the first pilot for retail digital currency on December 1, and that four local banks would participate in the initial phase of the pilot in four cities. The Reserve Bank of India (RBI) has made a strong call for banning cryptocurrencies rather than regulating them. Governor Shaktikanta Das spoke at the Business Standard BFSI Insight Summit on Wednesday and made the case that allowing cryptocurrencies to grow could trigger the next financial crisis. Das cited the events in the industry this year, specifically the fall of the FTX exchange, as proof of his point. Das argued that the origin…
South Korean Man Arrested for Selling Fake Concert Tickets to Fund Crypto Trading
Bulletpoints: • A 22 year old South Korean man was arrested for fraud and embezzlement for allegedly selling fake concert tickets to fuel his crypto trading habits. • He was able to make over $34,500 from 191 victims who were desperate to find tickets. • In September, the South Korean government reported tracing $1 billion worth of fraudulent crypto transactions and a 5 year jail sentence was handed out to a crypto fraudster. A 22 year old South Korean man has been arrested for committing fraud and embezzlement while he was serving in the military. The man, who remains unnamed for legal reasons, was apprehended at the Heungdeok Police Station in Cheongju, North Chungcheong Province. The police stated that the man had repeatedly committed crimes while still in service and took advantage of the desperation of buyers to find tickets to concerts of famous singers. He sold fake tickets online…
“LUNC Price Surges 5% as Token Burns Increase; Presales Offer Big Returns”
• The Terra Luna Classic (LUNC) price has risen by 5% in the past 24 hours, reaching $0.00013703. • A proposal to reverse a recent move to re-mint 50% of all burns is responsible for the latest surge. • Other altcoins such as Lucky Block (LBLOCK) and FightOut (FGHT) have witnessed increases as high as 6,000% and 3000% earlier this year, respectively. The Terra Luna Classic (LUNC) price is finally on the move after a period of stagnation. After rising by 5% in the past 24 hours, LUNC is now trading at $0.00013703. At one point today, the altcoin was up by as much as 7.7%, although its current price still means it’s down by 17% in a week and by 10% in a month. The current surge in the LUNC price can be attributed to a proposal to reverse a recent move in which the community had voted to…
: Giga Watt, one of the biggest Bitcoin mining companies, has recently sought bankruptcy protection – what implications does this have for the cryptocurrency industry?
• Core Scientific, one of the largest Bitcoin mining companies, has filed for Chapter 11 bankruptcy protection in Texas. • The firm attributed the bankruptcy to a $7 million unpaid debt from Celsius Network, slumping crypto prices and rising energy costs for mining. • Other crypto mining firms such as Argo Blockchain, Iris Energy, and Greenidge Generation are also struggling amid the market downturn. The crypto industry is no stranger to turmoil, and the latest news of one of the largest Bitcoin mining firms, Core Scientific, filing for bankruptcy further adds to the uncertain situation. The filing, which took place in Texas on Wednesday, reveals that the firm has $1 to $10 billion in assets and liabilities, and has attributed its bankruptcy to a $7 million unpaid debt from Celsius Network, a bankrupt cryptocurrency lending company, slumping crypto prices, and rising energy costs for mining. Core Scientific is a proof-of-work…