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Pepe Coin price has dropped by 5.3% today, July 23, to trade at $0.0000131. Usually, such a drop happens at the same time that open interest is dropping, but this is not the case this time around, after this metric increased to an all-time high of more than $1 billion. Pepe Coin Price Eyes Triangle
The post Pepe Coin Price Set for $0.00005 Breakout as Open Interest Tops $1B and Whale Activity Jumps 107% appeared first on CoinGape.
The post $10T Asset Manager Vanguard Goes Hard into Bitcoin: What Next on BTC Price? appeared first on Coinpedia Fintech News
Bitcoin (BTC) price closed the second week of July in a bullish Morubozu candlestick after consistently rallying above the prior resistance range between $109k and $111,872. The flagship coin has since opened the third week of July in a robust bullish momentum, especially after hitting its all-time high (ATH) of about $122,838 on Monday, during the early European trading session.
The Bitcoin pump into the price discovery phase is heavily bolstered by the high demand in the spot market amid record peaks in futures and derivatives trading. According to market data from Coinglass, Bitcoin’s Open Interest (OI) surged to a new ATH of $85 billion amid heavy liquidation of short traders.
For the past years, Vanguard Group Inc., has given pessimistic views on Bitcoin and the wider crypto market. The Pennsylvania-based asset manager, with around $10 trillion in assets under management, referred to Bitcoin as inappropriate for long-term investors.
However, recent U.S. SEC filings show a different picture. The Vanguard Group owns more than 20 million shares, nearly 8 percent of Strategy Inc., a top-holder of Bitcoin with 601,550 coins at the time of this writing.
Remarkably, Vanguard has possibly surpassed Capital Group as the top investor of Strategy.
As Coinpedia has pointed out, BTC price is now in the euphoric phase of the 2024/2025 crypto bull market catalyzed by the rising demand from institutional investors and clear regulatory frameworks. From a technical analysis standpoint, BTC’s bullish sentiment is bolstered by the weekly Relative Strength Index (RSI) that recently surged above the 70 level for the first time year to date.
Additionally, the weekly MACD indicator shows an increasing bullish histogram with the MACD line above the zero line.
In the 2-hour timeframe, the bullish sentiment is visible through higher highs and higher lows, an established characteristic of a rising trend. As a result, it is safe to say that a rally towards $150k is much more likely to happen than a drop below $100k in the near term.
The post $10T Asset Manager Vanguard Goes Hard into Bitcoin: What Next on BTC Price? appeared first on Coinpedia Fintech News
Bitcoin (BTC) price closed the second week of July in a bullish Morubozu candlestick after consistently rallying above the prior resistance range between $109k and $111,872. The flagship coin has since opened the third week of July in a robust bullish momentum, especially after hitting its all-time high (ATH) of about $122,838 on Monday, during …
Shiba Inu (SHIB) price is mimicking historical patterns as two on-chain metrics signal the formation of a local bottom. The Market Value to Realized Value (MVRV) ratio is falling amid a spike in the age consumed. These metrics are flipping bullish after a steep decline in Shiba Inu price in the last seven days, as most meme coins struggle against a bearish market sentiment. Shiba Inu Price Today Amid 8% Crash Shiba Inu price has posted an 8% intraday loss today, May 31, as it fluctuates between a daily low of $0.0000123 and a daily high of $0.0000133. At press time, SHIB trades at $0.0000125 with $289 million in 24-hour trading volumes. Shiba Inu Price Today The declining Shiba Inu price coincides with the recent meme coin crash, as the entire meme token market cap shed $10 billion in value within a week. The sell-side pressure from long liquidations and… Read More at Coingape.com
The post Can Shiba Inu Price Recover as Age Consumed & Falling MVRV Signal Bottom? appeared first on CoinGape.
Alex Mashinsky faces up to 20 years in jail as the US DoJ (Department of Justice) pursues the Celsius founder and former CEO for orchestrating a years-long campaign of lies and self-dealing.
Prosecutors are pushing for such an extreme punishment, citing Mashinsky as an example of the repercussions of crypto misconduct.
The US DoJ issued the request in a sentencing memo filed on Monday, April 28, asking the court for a 20-year jail term for Alex Mashinsky.
The prosecution calls Mashinsky out for “deliberate, calculated” fraud, which resulted in the loss of almost $7 billion in customer funds.
Despite this report, CEL, the powering token for the Celsius Network, is up by over 70%. As of this writing, data on CoinGecko shows CEL was trading for $0.1507.
This request comes five months after Mashinsky’s guilty plea, following fraud charges, including CEL token market manipulation, and avoiding a January trial. Commodities fraud and price manipulation were among the schemes linked to Celsius’s collapse.
According to the DoJ, while Mashinsky pled guilty, he still refuses to accept responsibility. Instead, he is reportedly shifting blame to regulators, market conditions, and even his victims.
“Mashinsky’s crimes were not the product of negligence, naivete, or bad luck. They were the result of deliberate, calculated decisions to lie, deceive, and steal in pursuit of personal fortune,” the DoJ contends.
Meanwhile, this case traces back to July 2023 when the US SEC (Securities and Exchange Commission) sued Celsius and Mashinsky. The securities regulator cited the two defendants for:
Beyond the DoJ and SEC, other agencies, including the CFTC (Commodities Futures Trading Commission), FTC (Federal Trade Commission), and the US Government, had also filed similar charges against Celsius and Mashinsky.
“SEC, DOJ, CFTC, and FTC all sued/charged Celsius and Mashinsky in the past hour. Rough day,” db reported at the time.
Notably, this happened a year after Mashinsky stepped down as CEO of Celsius. Over the years, a key highlight in the case includes Mashinsky claiming to have withdrawn $10 million ahead of the platform’s bankruptcy.
Notwithstanding, the judge froze his assets and recently turned down his request to dismiss fraud charges.
Meanwhile, efforts to make victims whole have included unstaking the platform’s Ethereum (ETH) holdings. In January 2024, Celsius informed its followers on social media that it was working to compensate victims.
“The significant unstaking activity in the next few days will unlock ETH to ensure timely distributions to creditors,” read the post.
More recently, Celsius announced the second payout to creditors, citing $127 million in Bitcoin (BTC) and US dollars based on eligibility.
Mashinsky’s sentencing is set for Thursday, May 8. If the court agrees to the US DoJ’s push for a 20-year sentence, Alex Mashinsky would have received a lesser sentence than FTX’s Sam Bankman-Fried (SBF) 25-year jail term.
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