RichBeak News [EN]:Notcoin added to major cryptocurrency exchangesToday, several major cryptocurr

18 May 2024

RichBeak News [EN]:

RichBeak News [EN]:
Notcoin added to major cryptocurrency exchanges

Today, several major cryptocurrency trading platforms, including Binance, OKX, Bybit, Kucoin, Gate, Bitget and Bitfinex added the token Notcoin (NOT).

At the start of trading, the market capitalization of the coin exceeded $1 billion, thanks to which it entered the top 100 rating of Coinmarketcap portal.

It should be reminded that Notcoin is a game project in the TON ecosystem, using Telegram as a technical platform. The developers made a "game" where users "mined" virtual coins.

At the launch of trading, some users reported problems with crediting coins to exchanges and interruptions in the work of the wallet in Telegram. The head of the exchange Bybit Ben Zhou confirmed that some problems are noted.

Subsequently, it became known that the cryptocurrency exchange Binance abandoned the NOT/BTC trading pair, which was announced initially in order to improve the efficiency of trading. So far, the value of NOT is just under a cent, and this may have disappointed the community who expected a higher value for the coin upon listing.

The Nyan Heroes shooter team will release the NYAN token next week

The team behind the cat-themed shooter Nyan Heroes has confirmed that the NYAN token, created on the Solana blockchain, will be released on the Bybit exchange next week. The game's developers have also stated that details about the asset's airdrop will be coming soon.

It is known that NYAN tokens will be given to players who participated in the play-to-airdrop campaign. Right now, gamers can earn MEOW points and CATNIP points by completing tasks or participating in Nyan Heroes social media activities. These points will later be exchanged for NYAN tokens.

Developed by Singapore-based studio 9 Lives Interactive, the game has received $3 million in funding and had a successful launch of its pre-alpha version on the Epic Games Store. In the first week and a half, over 100,000 players joined Nyan Heroes. Currently, over 200,000 users have already downloaded the game, making it a top 30 shooter on the Epic Games Store.

Nyan Heroes has no NFT integration, as the developers primarily focused on gameplay. For this reason, the shooter can be played without having a cryptocurrency wallet. According to the assurance of the creators, the situation will remain the same with the launch of the token.

In the U.S., hackers have been indicted for a new type of hack into the Ethereum blockchain

What else is known? US authorities arrested brothers Anton and James Perair-Bueno for the first attack of its kind on the Ethereum blockchain, during which they gained access to incomplete transactions and were able to steal over $25 million in cryptocurrency from users. It is noted that they prepared the exploit for several months and carried it out in just 12 seconds.

What else is known. According to prosecutors, 24-year-old Anton and 28-year-old James studied math and computer science at an unnamed prestigious American university and used their skills to hack and manipulate cryptocurrency protocols. The innovative and technologically sophisticated hacking scheme they developed "called into question the very integrity of the blockchain," law enforcement officials claim.

The Perair-Bueno brothers managed to manipulate the process and protocols by which transactions are verified and added to the Ethereum blockchain. They gained access to transactions awaiting validation and changed the destination point of the cryptocurrencies. They then took a number of actions to conceal the source of the criminal funds.

The brothers face a number of charges on counts related to conspiracy to commit fraud and money laundering. The maximum penalty for each could be 20 years in prison. The IRS Cybercrime Unit, the NYPD, and the Border Patrol and Customs Enforcement participated in the investigation.

The trader who made a fortune on Shiba Inu invested in bicoins

A major cryptocurrency whale who made $8.24 million from trading Shiba Inu (SHIB) has bought $16.22 million worth of bitcoins.

According to Spot On Chain, the crowdfunder, who allegedly owns 11 cryptocurrency wallets, converted $533.6 billion worth of SHIB into Dai (DAI) stablecoins at a rate of about $0.00003 in late March. He got rid of the tokens less than a month after buying them and earned a profit of $8.24 million, thus increasing his capital by 106%.

On May 15, the wealthy trader exchanged 16.22 million DAI for 252 Wrapped Bitcoin (WBTC) coins, which are issued on the Ethereum (ETH) network and whose exchange rate matches the value of bitcoin. Keith bought WBTC at $64,449 and received an unrealized profit of 1.6% because BTC is now worth $65,503.

The fact that the crowdfunder invested in bitcoins is surprising because many analysts expect the altcoin season to start and therefore advise investing in alternative digital assets. For example, Michael van de Poppe sold bitcoins and used the proceeds to buy, among other coins, the virtual currency Sei (SEI), which has risen in value by 22% since May 15.

It can be assumed that the cryptokit either does not want to take risks by purchasing altcoins or believes in the resumption of a bull rally in the bitcoin market.

Pictured above Cryptocurrencies owned by the whale

PEPE cools off after updating an all-time high

This week, the price of the popular memcoin PEPE rose significantly, updating another all-time high.

However, such impressive growth usually leads to profit taking, which can trigger a significant correction.

Investors are selling PEPE

The price of PEPE broke through the key resistance at $0.00001007, which allowed the meme to update an all-time high. However, it also prompted crypto-enthusiasts to sell.

According to data from analytics platform Santiment, realized gains for PEPE holders hit a two-month high. If the selling pressure intensifies, memcoin could be in for a serious drawdown.

In addition, more than 40% of the network's participants are currently in profit. This is the maximum figure for active PEPE addresses.

PEPE price forecast: a fall ahead

PEPE price is trading at $0.00001020 after forming a new ATH. A break of $0.00001007 support is likely to send the memcoin towards $0.00000900. If this level fails to hold, the coin will face a correction towards $0.00000750.

However, if PEPE owners decide to hold on to the coin in the hope of further growth, the asset will have a chance to recover. A rebound from $0.00001007 will allow the price to return to the peak values, refuting the bearish scenario.

Switzerland plans to adopt a global reporting system for cryptocurrencies

Switzerland's highest authority has held a public consultation on its plans to adopt global tax reporting standards for cryptocurrencies to "ensure equal treatment" with traditional assets.

The Federal Council, a group of seven members who jointly lead the Swiss government, intends to introduce a Crypto Asset Reporting Framework (CARF) to increase tax transparency.

On May 15, the Federal Council published a consultation paper to gauge public opinion on joining the Automatic Exchange of Information (AEOI), a cooperation between international tax administrations to combat tax evasion. Switzerland's accession to the AEOI is currently scheduled for January 1, 2026.

The Organization for Economic Cooperation and Development (OECD) established the AEOI and other initiatives for the G20 countries, which were later expanded to include other countries.

Switzerland previously adopted the OECD Common Reporting Standard (CRS) in 2014, but did not include CARF, which regulates the treatment of cryptoassets and their providers. Planning to change this reality, the Federal Council stated:

"The implementation of CARF will expand the progressive regulation of the cryptocurrency market in Switzerland and help preserve the credibility and reputation of the Swiss financial center."

Chinese gaming company makes 1100% profit after investing in cryptocurrency

Hong Kong-listed Chinese online gaming company Boyaa Interactive expects its Q1 2024 earnings to grow 1.125% from just $3.98 million in the same quarter last year due to unrealized gains from its investments in bitcoin and Efirium.

Over the same period, its core gaming business only grew revenues by 10-15%, suggesting that putting cryptocurrency on your balance sheet may be a wise move in some circumstances.

Last December, it was reported that Boyaa Interactive had acquired $100 million in bitcoin, Ethereum, USD Coin and Tether in addition to its corporate coffers. Boyaa stated at the time:

The Internet gaming business, which is primarily managed by the Group, has a high degree of logical alignment with Web3 technology. It attaches great importance to communities and users, takes into account the attributes of virtual assets and other characteristics, making Web3 technology easier and more widely used in the Internet gaming industry. "

Since then, the firm's stock has tripled in value, and Boyaa plans to purchase an additional $100 million worth of cryptocurrencies to increase its stake in the initial investment. In its March update, the company disclosed that it has 1,110 bitcoins with an average unit price of approximately $41,790, a total of 14,855 ethers with an average unit price of approximately $2,777, and approximately 8,000,000 USDT units.

XRP holds steady at $0.50 despite bearish pattern breakout: what's next?

XRP recently encountered a breakout of a symmetrical triangle pattern, which is usually a bearish signal suggesting further declines. However, this potential decline was cushioned by solid support around the $0.50 mark.

The cryptocurrency's price managed to avoid significant losses due to this critical support level, despite the bearish pattern, which usually indicates a continuation of the downward movement. During this breakdown, XRP trading volume rose sharply, underscoring the bulls' commitment to defend the $0.50 support level. In addition, the 50-day and 200-day moving averages are converging above the current price.

Technical indicators present a mixed picture. The Relative Strength Index (RSI) is hovering around 40, indicating that XRP is not yet in oversold territory. This suggests that there may still be room for further downward movement before a potential rebound. However, the strong resistance at the $0.50 level indicates a possible consolidation phase before any significant price change occurs.

Conversely, if XRP fails to hold support at $ 0.50, the price could decline further, possibly testing lower support levels around $ 0.45. This scenario would be in line with the bearish sentiment currently prevailing in the market.

According to CoinCodex's XRP price forecast, the cryptocurrency is expected to grow 20.76% to reach approximately $0.625 by mid-June 2024. Despite the bearish sentiment, the Fear and Greed Index reflects a score of 70, indicating a market characterized by greed. This suggests that investor sentiment may still remain optimistic about a near-term price recovery.

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