TL;DR Breakdown Arbitrum price analysis is bullish with signs of selling pressure also visible. Resistance for ARB is present at $1.35. Support for ARB is present at $1.20. The Arbitrum price analysis is bullish today as the market witnessed a considerable improvement in the price levels. The bulls led a rally that elevated the price levels to the $1.27 range. The coin has been rallying for the last three days, gaining significant value as the bullish momentum was strong and helped the coin’s flight. Yet, today the trend is the same, but now, selling pressure is resurfacing again. The price swung low towards $1.23 for a moment, but the bulls are in action again, and the price is recovering, currently at $1.25. The next point where bulls may get resistance again could be $1.30. ARB/USD 1-day price chart: Bulls striving for the lead as they mark high goals The 1-day chart for Arbitrum price analysis shows that the coin price has surged further high today. The price is currently set at $1.25, as the coin has gained 3.72 percent during…

TL;DR Breakdown Reddit’s NFTs are nearing 10 million holders since launching in July 2022. Bot activity concerns are arising with this growth. Reddit’s partnership with Ubisoft’s Rabbids NFT collection has enhanced platform engagement, merging gaming with NFTs. Polygon’s co-founder lauds Reddit’s NFT success and envisions Polygon as the main business layer for crypto. Reddit is on the cusp of boasting about 10 million holders of its unique, collectible avatars – a staggering figure that has skyrocketed nearly a year after the launch of Reddit Non-Fungible Tokens (NFTs). This achievement, however, is not without controversy and calls into question the larger role of such digital collectibles within the expanding landscape of Web3 technologies. Surging popularity amidst controversy As reported by Dune Analytics, Reddit’s NFT ownership is nearing the milestone, with nearly 9.9 million users embracing the craze. Astonishingly, 7.7 million among these have single unique avatars, eschewing the proliferation of multiple wallets that has typified the digital collectible market. These avatars, innovative digital creations crafted by independent artists and Reddit content creators, have become a cultural phenomenon on the social media…

TL;DR Breakdown Ripple’s acquisition of Metaco for $250 million strengthens its presence in the European Union and aligns with its vision of disrupting the payments ecosystem. Nasdaq’s recognition of Ripple’s acquisition hints at potential future prospects and adds credibility to Ripple’s potential IPO plans. In a notable development within the crypto industry, Ripple Labs Inc, the blockchain payments firm, recently acquired Metaco, a Swiss-based institutional asset custody, trading, and DeFi-focused company. This acquisition, which garnered significant attention, has caught the eye of the prominent Wall Street brokerage platform Nasdaq Global Select Market. Nasdaq’s congratulations to Ripple on the Metaco acquisition have raised speculation about Ripple’s potential Initial Public Offering (IPO). This article explores the implications of Nasdaq’s recognition and delves into the conditions Ripple must fulfill to go public. Nasdaq’s recognition of Ripple’s acquisition not only signifies the significance of the deal within the industry but also raises speculation about Ripple’s potential IPO. As a renowned platform for publicly traded firms, Nasdaq’s acknowledgment adds credibility to Ripple’s growth prospects and could potentially attract more attention from investors. This recognition further…

TL;DR Breakdown Michael Saylor, executive chairman of MicroStrategy, said at the Bitcoin 2023 Conference in Miami that Bitcoin could help combat the cybersecurity threats that will increase with the proliferation of AI.  Saylor suggested creating a public-private key system stored on the Bitcoin layer to establish integrity in cyberspace and stop the spread of phony online identities. Michael Saylor believes that Ordinals will increase Bitcoin adoption by promoting application development.  The global annual cost of cybercrime is predicted to reach $8 trillion annually in 2023. According to MicroStrategy CEO Michael Saylor, the potential of Bitcoin in battling cybersecurity risks is brought on by artificial intelligence (AI). He suggested creating a public-private key system stored on the Bitcoin layer to establish integrity in cyberspace and stop the spread of phony online identities.  Additionally, Saylor highlights how Bitcoin’s decentralized blockchain offers cryptographic security solutions that enhance data protection and privacy. Saylor discusses MicroStrategy’s involvement in the Lightning and Orange projects, emphasizing cutting-edge blockchain-based applications. Contents hide 1 Michael Saylor points to Bitcoin’s role in combating cybersecurity risks caused by AI 2 Bitcoin’s…

TL;DR Breakdown USDT market shares increase as other stablecoins experience negative moves. The stablecoin continues to rise as regulatory challenges arise. Over the past year, the market dominance of stablecoins pegged to the United States dollar has undergone significant changes. While some stablecoins have experienced a downward trend, USDT has risen to its all-time high, according to data from CoinGecko. USDT rises as other stablecoins decline Circle’s USDC, once a frontrunner in the stablecoin market, has seen its market share decline from 34.88% to 23.05% in 12 months. Similarly, BUSD’s market participation has plummeted from 11.68% to 4.18% during the same period. Dai, on the other hand, has maintained a relatively stable participation rate of 3.66%, down from 4.05% in May 2022. In contrast, Tether’s USDT has followed an upward trajectory. Its market dominance currently stands at 65.89%, up from 47.04% a year ago. Tether’s market capitalization has surged to $83.1 billion, while USDC’s market cap has declined to $29 billion from its peak of $55 billion. Circle CEO Jeremy Allaire recently attributed the declining market capitalization of USDC to…

TL;DR Breakdown Ethereum has burned ETH worth $6.1 billion over the last 21 months. Analysts explore the potential value and impact of the burned tokens. In the past 21 months following the implementation of Ethereum Improvement Proposal (EIP) 1559, Ethereum’s London hard fork has witnessed staggering destruction of over 3.33 million ether, valued at a jaw-dropping $6.1 billion. The burn rate currently stands at approximately 3.51 ether per minute, further solidifying the network’s unique burning phenomenon. OpenSea helped Ethereum burn over 230,000 tokens One prominent participant in this burning process since August 5, 2021, is the Opensea platform, known for its contributions to the destruction of 230,050 ETH. The London upgrade, marked as a significant event in Ethereum’s history, set the stage for what was to come. In the initial three months alone, over 700,000 ether was burned, foreshadowing the scale of future burn rates. The primary driving force behind this burning lies in everyday traditional transfers of ether. Conventional ether transactions alone have resulted in the destruction of a substantial sum of 285,576 ether, valued at $522 million. Opensea…

TL;DR Breakdown Coinbase is predicted to expand its global presence to crypto-friendly countries like Singapore, Switzerland, and Estonia. It’s expected to diversify its service offerings by introducing new cryptocurrencies and financial products related to crypto. The exchange might develop services tailored to institutional clients, given their growing interest in cryptocurrencies. The company is expected to adapt its practices to comply with more stringent future regulations. In an era of rapid digital transformation and growing cryptocurrency interest, there has been much speculation about the future of key players in the crypto sphere, including Coinbase, one of the leading crypto exchanges. Leveraging the advanced predictive capacity of GPT-4, we attempt to sketch a future trajectory for Coinbase over the next five years. Here is what GPT-4 thinks As per GPT-4’s projection, Coinbase’s geographical footprint is expected to expand notably by 2028. Following the establishment of Coinbase International Exchange in Bermuda, the company is anticipated to extend its operations to other crypto-friendly jurisdictions such as Singapore, Switzerland, and Estonia. This expansion strategy aims not only to tap into new markets but also to…

TL;DR Breakdown Liquity price analysis shows an uptrend Resistance for LQTY is present at $1.27 Support is present at the $1.23 point Liquity price analysis shows that the price is covering upward movement once again, as the bulls have been at the lead today as well. The past day had been highly favourable for the bulls as the price advanced at a rapid speed. Today, the trends have been no different as the price has increased up to the $1.26 level. Further improvement in LQTY market value can be expected as the hourly price chart predicts an uptrend as well. Cryptocurrencies price heat map, Source: Coin 360 The price opened today, trading at $1.23, but the bull run was short-lived as the price corrected higher to reach the current level. The broader cryptocurrency market is also bullish today as Bitcoin shows a three per cent gain in value, standing at $27,586, Ethereum shows a 1.41 per cent gains with a $1,854 price tag, and most altcoins also reporting bullish market sentiment, with LQTY being no exception. Liquity price analysis daily…

TL;DR Breakdown Aptos price analysis shows a bullish market sentiment APT prices are facing resistance at $8.63 Key support for APT prices is seen at $8.15 Aptos price analysis reveals that the market is following an uptrend after a recent bullish stream. The APT/USD pair has experienced an increase of over 2.43 percent in the last  24 hours and is currently trading at $8.41 per token. The support for the APT/USD pair is at $8.25, and the token is currently trading below the resistance level. If the bulls manage to break and sustain above the current resistance levels of $8.63, the APT/USD pair could see further upward movement toward its next major resistance level of $8.75. The bulls are currently targeting a move above the $8.53 level to confirm a strong bullish trend in the near-term outlook. The coin has seen strong support from investors as the market sentiment remains bullish with new traders entering the space and buying into the coin. Aptos price analysis 1-day chart: Bullish momentum pushes the price up to $8.41 The 24-hour Aptos price analysis…

TL;DR Breakdown Hong Kong police have launched the Web3 platform CyberDefender to raise risk awareness. The agency wants the younger generation to learn about crimes in the Web3 sector. The Cyber Security and Technology Crime Bureau (CSTCB) of the Hong Kong Police Force has introduced CyberDefender, a new metaverse platform aimed at educating the public about the potential dangers associated with Web3 and the metaverse. The initiative, announced on May 27, seeks to equip citizens with the knowledge to navigate the digital age and prevent technology-related crimes. Hong Kong police want to raise Web3 risk awareness Accompanied by an online event titled “Exploring the Metaverse,” CyberDefender was unveiled through three virtual venues, facilitating discussions on crime prevention strategies within the metaverse. During the event, Mr. Ip Cheuk-yu, the chief inspector of CSTCB, emphasized the importance of exercising caution in the metaverse, urging attendees to apply the same level of vigilance as they do while using the internet. Addressing the potential risks, Mr. Ip highlighted that crimes prevalent in cyberspace, such as investment fraud, unauthorized access, theft, and sexual offenses, can…