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Although Litecoin ( LTC ) has dropped 4.8% in the last week, it is still up nearly 10% in the 14-day charts. However, many anticipate the asset’s price to rally as LTC ’s halving event is inching closer and closer. LTC ’s halving will take place on August 10 this year, on block number 2,140,000. Block rewards given to Litecoin miners for validating transactions will be cut in half during the impending halving event. Rewards will drop from 12.5 LTC to 6.25 LTC. Typically, crypto miners aim to increase their reserves as the halving date draws closer. Moreover, halving events, like Bitcoin (BTC), usually lead to a price surge. However, the usual development of miners hoarding tokens is not being seen this time around. On-chain data raters show the contrary, i.e., miners are letting go of their reserves. According to the data from IntoTheBlock, Litecoin (LTC) miners have dumped nearly 680,000 LTC in May 2023 alone. Source: IntoTheBlock It is possible that miners are booking ...

Following the Shapella upgrades, which allowed unstaking of Ethereum (ETH) for the first time since its introduction in December 2020, the PR ice of ETH crossed the significant $2,000 mark and maintained stability. This has left investors assessing its potential future trends, including its relationship with the ETH Rainbow Chart. Simultaneously new cryptocurrency coins are emerging, such as ApeMax, a new revolutionary staking token. In this guide, we will delve into the world of cryptocurrency and shed light on the Ethereum Rainbow Chart, as well as the new emerging star ApeMax. In this article, we explore the much-debated Ethereum Rainbow and provide valuable market insights and data to assist readers in comprehending its significance. Furthermore, we examine the factors analysts consider when making Ethereum pricing predictions, offering readers a possible glimpse into the future of this groundbreaking digital coin. The cryptocurrency market is a constantly evolving eco...

Multichain, a cross-chain protocol that was previously known as Anyswap, has committed to compensating affected users following a “force majeure” incident that has resulted in the unavailability of certain cross-chain routes. While most of the cross-chain routes of Multichain protocol are functioning well, some of the cross-chain routes are unavailable due to force majeure, and the time for service to resume is unknown. After service is restored, pending transactions will be credited automatically.… — Multichain (Previously Anyswap) (@MultichainOrg) May 24, 2023 The team addressed the fact that, even though most of the cross-chain routes are functioning normally, some of them are unavailable. Additionally, they mentioned that the exact time for resuming their services is unknown. Multichain also assured that the pending transactions would be credited automatically after the service was restored. Users who were affected during this process will also r...

Bitcoin’s tight-range trading suggests that traders are content to wait for a catalyst to start the next trending move. Bitcoin has been trading in a narrow range for the past few days. Generally, tight ranges are followed by a range expansion, resulting in strong trending moves. Market intelligence firm Glassnode tweeted on May 22 that Bitcoin’s (BTC) seven-day price range is “comparable to Jan 2023 and July 2020, both of which preceded large market moves.” It is not only Bitcoin — even the S&P 500 Index (SPX) is at a critical juncture. After its 1.65% rise last week, the SPX has reached near a stiff resistance. The market participants will be keenly watching the outcome of the debt ceiling negotiations before attempting to start a trending move. Daily cryptocurrency market performance. Source: Coin360 Another trigger could be the macroeconomic data, as it will provide insights on the likely action by the United States Federal Reserve in its next meeting on June 13 and 14. The Fe...

Bitcoin fails to respond even to a market-moving fake news event about an explosion at the Pentagon. Bitcoin stayed motionless after the May 22 Wall Street open amid suggestions that United States interest rates may keep rising. BTC/USD 1-hour candle chart on Bitstamp. Source: TradingView Bitcoin analyst eyes “capitulation by time” Data from Cointelegraph Markets Pro and TradingView showed BTC/USD circling the range immediately below $27,000. Despite some brief volatility for stocks, Bitcoin (BTC) remained firmly trapped in a range that it first entered 10 days prior. For market commentators, the danger remained for a breakdown to result, with key trend lines such as the 200-week moving average (MA) potentially seeing a retest — or worse. “This relentless sideways chop is boring AF and presents some challenges to traders, but IMO it’s a healthy consolidation,” monitoring resource Material Indicators summarized. “The longer this continues, the stronger this zone gets as a present and ...

Shiba Inu (SHIB) community member “Ragnar” shared a message on the Shibarium Telegram channel that the team was working on a new version of ShibaSwap. ShibaSwap is a decentralized exchange (DEX) for the SHIB ecosystem. However, the message stated that before being released, ShibaSwap 2.0 will need a fresh security evaluation from CertiK. Ragnar said that once the audit is complete, they “will be closing many fudders’ mouths. ” Source: Telegram What features will Shiba Inu’s Shibaswap 2.0 have? Eric M, the developer behind ShibaSwap, claimed that the new version will have fresh, enhanced designs. The new DEX will also have a crypto portal. The portal will serve as a platform for graphs, statistics, news, and trends. However, it is not clear whether the portal will solely post items pertaining to Shiba Inu or the broader cryptocurrency market. Nonetheless, like with other Shiba Inu (SHIB) products, the team has not revealed a launch date. ShibaSwap’s original version, which contains...

The rising popularity of digital payment applications is undeniable. Moreover, as the landscape of digital payment services grows, it becomes increasingly important to know what stores accept them. Leading us to answer the question, does CVS take Apple Pay?  CVS, one of the most popular pharmaceutical chains in the United States, has an immensely popular store. Conversely, Apple Pay has risen in popularity since its arrival while managing a large user base due to the prominence of Apple’s mobile technology. So, can you use the payment service at this specific store? Let’s find out.  What is CVS? Source: MMIT CVS is undoubtedly one of the most popular consumer stores in the United States. Specifically, the retail pharmacy has more than 9,800 locations across the country. Moreover, they have consistently been among the most utilized establishments of their kind nationwide.  The store was first started in 1963 and has only grown since its inception. Subsequently, in the s...

The Gemini- Genesis battle has taken several turns over the last couple of months. In a new turn of events, Gemini accused the Digital Currency Group [ DCG ] of missing out on a $630 million payment. The exchange revealed that DCG was obligated to carry out the payment last week. This further added a new dimension to the ongoing dispute. Gemini and Genesis have been embroiled in a highly publicized dispute surrounding the Gemini Earn program. As the primary partner for the exchange’s earn service, Genesis unexpectedly suspended withdrawals in November 2022. This decision sparked anger from the Winklevoss twins. In response, they threatened legal action against the parent company of Genesis , DCG , as well as its founder Barry Silbert. Adding to the conflict, Gemini pressed Genesis to develop a repayment plan for the $900 million loan that Gemini had extended to the now-bankrupt Genesis Global. The clash between the two parties continues to unfold in the public eye. In its late...

This week’s Crypto Biz explores T ether ’s first quarter audit, Ripple’s partial victory against the SEC, Worldcoin fundraising and Ledger’s controversial recovery service. Banks want to reduce exposure to crypto businesses, just as crypto businesses are seeking to reduce exposure to the ongoing banking crisis. T ether ’s latest audit report shows that the stablecoin issuer withdrew over $4.5 billion from banks in the first quarter to reduce counterparty risk following Circle’s troubles during the collapse of Silicon Valley Bank. The past few days also brought a change in the winds to Ripple’s battle with the United States Securities and Exchange Commission (SEC), with a motion from the securities regulator to seal some records rejected by a U.S. judge. The move has been viewed as a victory for Ripple, which considers the documents key evidence in its costly dispute with the regulatory agency. This week’s Crypto Biz explores T ether ’s first quarter audit, Ripple’s partial victory ag...

U.S. Senator Cynthia Lummis joined Chamber of Digital Commerce CEO Perianne Boring on stage at Bitcoin Miami 2023 for a lengthy discussion on regulation. U.S. Republican Sen. Cynthia Lummis of Wyoming held a fireside chat with the founder and CEO of Chamber of Digital Commerce Perianne Boring during the Bitcoin 2023 event in Miami on May 19. The topics of discussion were the importance of Bitcoin to U.S. national and energy security and the upcoming legislation surrounding cryptocurrency, blockchain, and related technologies. Lummis described regulating Bitcoin and related technologies as a national security issue. She opined that the U.S. government had been irresponsible with its debt, and positioned Bitcoin as a decentralized safety net for citizens: “I'm actually worried as we go into another debt ceiling debate that we will eventually increase the debt ceiling to the point where our interest payments will exceed how much money we spend on national defense. So it is a nationa...

Dogecoin’s daily transactions increased by 5,500% in about one week, reaching a whopping 1.12 million on May 17, 2023. In doing so, the flagship meme coin dwarfs Bitcoin’s number of daily transactions. On the same day, the number of Bitcoin’s daily transactions was 576,000. Last week’s on-chain activity in the Dogecoin ecosystem suggests a resurgence for the meme coin after losing a chunk of its popularity to the new projects in the sector. PEPE and Milady took the meme coin market by storm in the past few weeks, moving attention away from DOGE and other popular meme coins. DOGE’s bounce back connects with the NFT project in its ecosystem, Doginals. It is a product of the newly created DRC-20 token standard on the Dogecoin network. The token standard allows users to develop fungible tokens on the Dogecoin network in a decentralized manner. On-chain data shows an increasing user interest in newly created DRC-20 tokens, which explains the explosive rise in DOGE’s dai...

Are you a beginner in crypto and wondering how to short Bitcoin? Short-selling Bitcoin (BTC) or any other asset is a way to profit from the asset’s price decrease. In this article, we will guide you through the basics of shorting Bitcoin. Source: Pixabay What is shorting Bitcoin, and how does it work? Shorting is a way to profit from a decrease in the price of crypto . When you short Bitcoin, you borrow it from someone else and sell it at the current market price. You then wait for the price of Bitcoin to decrease and buy it back at a lower price. You then return what you borrowed and pocket the difference. For example, let’s say you borrow 1 BTC when the price is 10,000. You would wait for the price to drop to 2,000 before selling it again. Can anyone short-trade Bitcoin? Short-term trading is not for everyone. It is a risky venture and should only be attempted by experienced traders. To short-trade BTC, you must understand the crypto markets well and be comfortable w...