CRYPTOGALACTIC

2023-04-10 21:59:58 Liquid Mining project offers one of the most profitable and deliberate referral programs!

Every user is able to earn immediate percentage from their direct referral's purchases. Moreover, by expanding the referral's trading volume, Liquid Mining customers are receiving shares in the special reward pools!

Wanna know how it works? Here is the explanation!

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2023-04-10 21:59:58 Join Liquid Mining's "Race For The Container" event and win amazing prizes!

Register as a Leader or Affiliate and compete to win a free Liquid Plus Rig, Liquid Plus Rack, or Liquid Plus Container worth up to 72,000 USDT.

The event is divided into Rig, Rack, and Container leagues, and you can progress up the leagues by building your referral tree and increasing your Trading Volume.

Don't worry if you don't reach the threshold value, as you'll have a second chance in the next season.

But if you fail twice, your coins will be cancelled and your equipment confiscated. Register now and join the competition today!

Click HERE to register.

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2023-04-10 17:41:58 Shibarium's Puppynet Triggers Surge in Shiba Inu's BONE Large Transactions

Shiba Inu's BONE cryptocurrency has recorded a significant surge in large transactions in the last 24 hours, as Shibarium's testnet Puppynet continues to experience a boom, shows data from IntotheBlock. The total volume of large transactions with BONE has increased from 119,360 to 377,960, representing a rise from $127,820 to $402,150 in USD value.

This spike in large transactions comes just one week after a previous surge was monitored, indicating that interest in Shiba Inu's cryptocurrency continues to grow. The surge in large transactions is a strong indication that BONE is gaining momentum and is becoming increasingly popular among investors.

Shibarium: Testing
Meanwhile, Shibarium's testnet Puppynet has also been making waves, with an average block time of 8.3 seconds, total transactions reaching one million and total blocks standing at 300,041. The number of wallet addresses has also grown to 151,164.

It is important to note that these statistics may not be entirely accurate as Shibarium is still in test mode. Nonetheless, the strong performance of BONE and the rapid growth of Shibarium's testnet Puppynet are encouraging signs for the future of Shiba Inu's ecosystem.

Investors and crypto enthusiasts will, for sure, be keeping a close eye on Shiba Inu in the coming weeks and months to see how such spikes in large transactions and Shibarium's growth will impact the value and popularity of BONE. Open / Comment

2023-04-09 19:05:43 The $258 Billion Dogecoin Lawsuit Against Elon Musk: Dissecting The Plaintiff’s Arguments (Op-Ed)

If some angry investors had it their way, the world’s most successful tech startup founder and CEO would meanwhile lose his fortune. The cohort of people bringing “Johnson v Musk et al” in U.S. federal court, Southern District of New York, are suing him for $258 billion.

Elon Musk’s attorneys wrote in a memo to the court:

“The Complaint is a fanciful work of fiction that fails to state any actionable claim against Defendants Elon Musk and Tesla and must be dismissed in its entirety with prejudice.”

Here are the reasons why this lawsuit is frivolous.

Elon Musk Dogecoin Lawsuit
The litigants think they should be rewarded by U.S. courts for making unprofitable speculative investments. Furthermore, they want this colossal sum to be taken from the most profitable risk-taking business magnate in history.

The litigants feel entitled to squeeze Elon Musk because he supports the technology they hurt themselves on with poor investing decisions. It’s as if, from their point of view, Mr. Musk himself reached through the phone screen. It’s not like Musk twisted their arm to make them buy Dogecoin at the top of a multi-year market cycle.

In his characteristically defiant and cheeky way, Mr. Musk ordered the Twitter logo reset to the famous Doge meme graphic Monday. Dogecoin price exploded 25% in a day over the incredibly lucrative placement.

The case against Elon Musk and Dogecoin is a loosely cobbled-together monstrosity. Moreover, it’s built wholly out of flimsy pretenses and false statements. For example, the suit claims Dogecoin is wire fraud.

No representation is made by Dogecoin that is false or fraudulent. Users get private keys, and their keys go with their Dogecoin. The value of DOGE is determined by participants in a fair and transparent market. The price collapse of DOGE after the last bull run was market economics, not a fraud. Open / Comment

2023-04-08 14:08:14 Crypto Community Believes ETH Will Reach $5K by the End of 2023

In a tweet yesterday, Wu Blockchain (WuBlockchain), shared the results of a recent survey performed by OKX. According to the tweet, 63% of respondents predict that ETH will hit a new record high of $5,000 by the end of 2023. Meanwhile, 83% of those surveyed expect that more ETH will be staked in the next 3 months.

At press time, ETH’s price stands at $1,876.17 after it printed a 24-hour gain of 0.42% according to CoinMarketCap. This has added to the leading altcoin’s already-positive weekly price movement – taking the total gain for the last 7 days to +2.79%.

ETH was, however, outperformed by the market leader Bitcoin (BTC) over the last 24 hours. As a result, ETH is down 0.18% against ETH.

ETH’s price double-tapped the resistance level at $1,710 over the last month, which eventually resulted in it breaking out above the key level. The altcoin’s price was able to flip the resistance level into support on 17 March 2023.

This flipping of the level happened shortly after the 9-day EMA line crossed bullishly above the 20-day EMA line just a few days prior on 13 March. The shorter EMA line then offered ETH the necessary support to break the latest key price level at $1,850 – a level it continues to trade above at press time.

ETH’s price seems to have established a peak at $1,942.98 this past Wednesday and has retracted back down to the $1,850 mark. Should ETH’s price fail to close today’s trading session above this price level, then it may drop to the next minor support level at $1,781 in the next 14-48 hours. Open / Comment

2023-04-07 12:15:22 IRS To Invest $80 Billion In Workforce And Technology To Improve Tax Enforcement

The IRS has said it will allocate around $8.64 billion from the new funding between 2023 and 2024, with 8,782 new hires being part of the enforcement staff. This will help the IRS enforce tax laws more effectively and efficiently and ensure taxpayers comply with their obligations.

US Deputy Treasury Secretary Wally Adeyemo has stated that the IRS will hire more data scientists than ever before for enforcement purposes. This will allow revenue agents and traditional tax attorneys to utilize new data analytics technologies, which will help to identify audit targets.

The report also reveals that the IRS will continue adding new customer service employees and will hire 13,883 full-time equivalent staff over the next two years. This aims to improve customer service and ensure taxpayers receive the help they need to meet their obligations.

The $80 billion in funding will also help to rebuild audit capability and replace old computer technologies with new ones. This is crucial in ensuring that the IRS is able to keep up with the fast-paced world of technology and that its infrastructure is up-to-date and secure. Open / Comment

2023-04-06 18:06:32 OKX Delists TRX Futures Contracts In 2023, Adapting To Evolving Market Demands

The discontinuation of the futures contracts will be gradual. Bi-weekly futures contracts will no longer be available from April 14, 2023, while bi-quarterly futures contracts will no longer be available from June 16, 2023. However, the futures contracts that have already been listed will not be affected.

This decision by OKX to discontinue the generation of TRX USDT-Margined and Crypto-Margined futures contracts is a response to the current market trends and user needs. It is a clear indication that the company is committed to providing the best services to its users. As always, OKX will continue to monitor the market trends and make necessary adjustments to its services to meet the evolving needs of its users.

Coincu recently reported that OKX had identified $157 million in digital assets belonging to FTX and Alameda Research in response to a petition filed in the FTX bankruptcy proceedings. OKX froze the relevant accounts and secured the assets upon discovering any FTX-related transactions on its platform in the days leading up to FTX’s collapse in November 2022.

OKX is now handing over these assets to the bankruptcy estate of the former companies. The exchange has stated that it will continue collaborating with FTX debtors and law enforcement authorities, expecting that these assets will be restored to FTX users through bankruptcy.

DISCLAIMER: The Information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your own research before investing. Open / Comment

2023-04-05 14:36:00 The CEO of Ripple Expresses Alarm Regarding Statements Made By Gensler

Brad Garlinghouse, CEO of Ripple, has called on US politicians to address Gary Gensler's comments as SEC chairman. He seemed to be implying that the existing securities rules are all that are needed to regulate the bitcoin sector.

Garlinghouse's comments are a response to Gensler's point of view, which is that the SEC can figure out if digital assets are securities, so there is no need for new laws. Garlinghouse made these assertions.

The CEO of Ripple says that decisions of this kind shouldn't be made based only on the Chair of the Securities and Exchange Commission's personal thoughts. In a tweet, Garlinghouse expressed his concern by saying that it is "beyond comprehension" for the head of the SEC to say that he gets to decide what security is instead of relying on the laws that give his agency its power.

Garlinghouse's tweet read as follows: "It is beyond comprehension that the head of the SEC would claim that he gets to dictate what constitutes security. It is beyond understanding, that the head of the SEC would make such a claim.”

Garlinghouse said that the SEC was able to get power from ambiguity because there was no clear authority in place. He also said that Gensler was acting like a dictator.

Gensler was of the opinion that legislation is an unneeded form of government. After a hearing that was held by the House Appropriations Committee, the director of the SEC, who is also pressing charges against Do Kwon, argued that the existing securities rules cover the majority of the activity that is taking place within the cryptocurrency markets. This was in response to the fact that the SEC director is also pressing charges against Do Kwon. He said that, notwithstanding the possibility that Congress would take steps to offer greater clarification, he believes that new powers are not required. Open / Comment

2023-04-04 20:47:33 Ethereum (ETH) vs. Bitcoin (BTC) Chart Indication Might Mean This for Altcoins: Miles Deutscher

Crypto analyst Miles Deutscher points to an important indication on the Ethereum vs. Bitcoin daily chart. Deutscher points to the fact that Ethereum is currently attempting a breakout and a successful support/resistance (S/R) flip on its Bitcoin daily chart.

ETH is currently attempting a break out + a successful ETH/BTC S/R flip on the daily.

We’re seeing the makings of a capital rotation into ETH ahead of the Shanghai (Shapella) upgrade.

Sustained strength would bode well for alt performance. Let’s see if it holds.

— Miles Deutscher (milesdeutscher) April 4, 2023
Ethereum's price turned oversold against Bitcoin after reaching near eight-month lows of $0.062 on March 21. This was followed by a relatively short period of range trading before a rise started on April 3.

According to Deutscher, the newfound strength Ethereum is seeing on its Bitcoin BTC chart might reflect the makings of capital rotation ahead of the Shanghai update.

Staked ETH withdrawals will be made possible by the Shanghai upgrade, also known as "Shapella," which completes Ethereum's entire transition to a proof-of-stake (PoS) network. The long-awaited Shanghai hard fork has an April 12 target date, according to Ethereum developers.

The fact that the last time Ethereum traded at such oversold levels to Bitcoin, it produced fresh highs on the ETH/BTC chart raises the possibility of a sustained rebound in the coming weeks. Open / Comment

2023-04-03 21:54:28 Bitfarms reported 424 BTC production for March

Bitfarms mining company mined 424 BTC last month compared to 387 BTC in February and 363 BTC in March 2022. This is stated in a press release.

Of the volume mined, the firm sold 394 BTC at an average of $24,700. Revenue was $9.7 million. Bitfarms abandoned its hodling strategy in June 2022, becoming one of the leaders in liquidating cryptocurrency reserves among publicly traded mining companies.

According to the report, Bitfarms holds 435 BTC totaling about $12.4 million, based on a price of $28,500 as of March 31, 2023. As of the same period, the company had $29 million in cash and cash equivalents.

Bitfarms mined 1,297 BTC during the quarter versus 962 BTC during the same period in 2022. The hash rate at the end of last month was 4.8 EH/s.

Earlier, the company repaid the balance of the loan from BlockFi totaling $21 million in a one-time cash payment of $7.75 million.

As a reminder, total bitcoin miners' revenue rose 21% in March. The figure reached $757.8 million, the highest value in the last ten months, according to a ForkLog analyst report. Open / Comment