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U.S. President Donald Trump did what investors dreamed of by reposting a 7-year-old Senate testimony Bitcoin video and calling it the best. Since Trump joined the White House, the administration’s stance on crypto has shifted. The prime example is the Senate’s approval of three prominent crypto bills. More is in the pipeline, raising curiosity, and
The post Why Trump Calls This Bitcoin Video the Best Ever? appeared first on CoinGape.
The third quarter of the year and the first week of July started off with considerable volatility. Some crypto tokens posted sharp gains, while others suffered losses. However, the weekend is expected to bring about a positive shift in some altcoins.
BeInCrypto has analyzed three altcoins for investors to watch this weekend, owing to their network development.
JUP has had a positive week, rising by 12.4% in the last seven days, currently trading at $0.442. The altcoin is consolidating between $0.471 and $0.424, indicating that it may be preparing for a breakout.
The Parabolic SAR indicator is positioned below the candlesticks, signaling a potential uptrend for JUP. This technical pattern suggests that buying pressure may build, which could push the altcoin higher. Additionally, the launch of Jupiter Studio, allowing the community to create tokens, could further increase demand for JUP.
With the Parabolic SAR indicating an uptrend and the launch of Jupiter Studio, JUP has the potential to break the $0.471 resistance. If successful, it could target $0.517. However, without sustained bullish momentum, the altcoin may continue consolidating within its current range, limiting short-term gains.
DOG, the meme coin built on Bitcoin, is expected to have an airdrop event over the weekend, with Kraken exchange marketing July 6 as the date. Airdrops typically generate excitement, potentially driving demand for the token.
DOG has gained significant investor attention due to its resilience in the market. Currently trading at $0.0041, the meme coin could move toward $0.0047 if the airdrop generates heightened demand. This potential price increase could make DOG a popular choice for traders looking to capitalize on short-term movements during the event.
However, if the airdrop hype fails to create significant price changes, DOG may experience sideways movement above the $0.0039 support level. A drop below this support would invalidate the bullish outlook, potentially sending the altcoin down to $0.0035.
HOSICO has gained significant attention from investors, with a 172% rise in the past week. The meme coin is currently trading at $0.0514, showing strong momentum. This surge highlights HOSICO’s potential, but market dynamics could shift as the coin faces resistance and investor sentiment evolves in the short term.
The Relative Strength Index (RSI) indicates that HOSICO is overbought due to the recent surge. However, this may lead to a cooling-off period, allowing the altcoin to build momentum for further growth. If the bullish trend persists, HOSICO could break past the $0.0619 resistance, aiming for $0.0775 in the coming weeks.
If sharp selling pressure emerges, HOSICO could lose support at $0.0486. This would invalidate the current bullish outlook, potentially leading to a decline toward $0.0347.
The post 3 Altcoins To Watch This Weekend | July 5 – 6 appeared first on BeInCrypto.
While Solana-based platform Pump.fun’s much-hyped token launch is just days away, whales are not buying the narrative. Instead, they are betting against it.
Beyond this sentiment, interest also centers on Pump.fun founder turning face, moving from a presale skeptic to launching an ICO (Initial Coin Offering).
On-chain data shows at least $11 million in USDC has been deposited into Hyperliquid perpetual DEX. These depositions, all from several newly created wallets, came as executors short the upcoming PUMP token, with 1x to 2x leverage.
Lookonchain said one wallet recently moved $4 million in USDC into Hyperliquid and shorted PUMP with 2x leverage.
Only hours before that, two other wallets combined for a $7 million short position on the same token.
The timing is crucial, coming only 2 days before Pump.fun is launching its PUMP token via ICO on July 12. As BeInCrypto reported, a full tokenomics reveal is scheduled for the same day.
The surge in bearish bets has fueled growing concerns about Pump.fun’s transparency and timing. Although the project has been one of the most active meme coin creation platforms, it was suspended from X (Twitter) only weeks ago.
Further, the platform has since raised eyebrows over the massive offloading of Solana (SOL) holdings. Between May 19 and June 10, Pump.fun sold approximately 4.1 million SOL, worth roughly $741 million, at an average price of $180.
“Pump.fun, recently suspended by X, has sold a total of ~4.1M SOL ($741M) at an average price of ~$180 since May 19, 2024. 264,373 SOL was sold for 41.64M USDC at $158. 3.84M SOL ($699M) was deposited to Kraken at $182,” Lookonchain revealed in a June 17 post.
Lookonchain reported that 3.84 million SOL was deposited to Kraken for liquidation. No further deposits have been recorded since June 10.
The timing of this sell-off, paired with the ICO announcement, has sparked speculation that insiders may be cashing out ahead of potential volatility.
Another layer of controversy was added after the launchpad’s co-founder, Alon Cohen, called token presales scams.
With Pump. Fun embracing the model, the upcoming launch marks a contradiction or change in perspective, turning heads, particularly amid little clarity on how the ICO funds will be allocated or governed.
The post Whales Bet Against Pump.fun Token Ahead of ICO as Hyperliquid Shorts Surge appeared first on BeInCrypto.
ZachXBT, an on-chain investigator, revealed the identity of a victim involved in a massive Bitcoin theft in the United States. The stolen funds, totalling 3,520 BTC (approximately $330 million), were transferred from the victim’s wallet to a different address.
ZachXBT confirmed that the victim of this theft was an elderly individual residing in the U.S. From the investigations’ perspective, the theft was related to social engineering. This type of crypto scam includes deceptive practices that are a form of fraud like emails or phone calls with the aim of obtaining personal and confidential information from the target.
The victim’s Bitcoin was moved from a wallet that was holding a substantial amount of cryptocurrency.
The attackers specifically targeted this individual, who seems unaware of the sophisticated methods they employed. ZachXBT expressed concern about how the attackers were able to access the victim’s private information, given the advanced nature of the scam.
Social engineering scams are another form of danger in the cryptocurrency space since people make victims give the scammers direct access to their digital wallets. This probably is what happened to the elderly victim in this case, which includes schemes that may involve email fraud to phone scams. This type of scams target the victims and take advantage of their familiarity with the technology making it quite difficult to spot them until when they are already operating.
On-chain investigator ZachXBT also pointed out that the attackers transferred the funds in a suspicious manner and immediately moved them.
They traded the Bitcoins on over six platforms before exchanging them for Monero, a privacy coin that makes it difficult to trace transactions. These series of moves were suspicious more especially because it came close on the heel of a sharp increase in the price of XMR.
The investigation into the theft is ongoing, and ZachXBT has been closely monitoring the situation. He pointed out that the BTC involved in the theft had originated from sources that were “interesting,” raising questions about the initial acquisition of the funds. The laundering and conversion of the funds to XMR point to an effort to conceal the origin of the stolen cryptocurrency.
Despite the increase in phishing attacks in the crypto space, the volume of this theft puts it among the largest in the last few months. The loss includes one of the biggest single losses in the history of Bitcoin thefts, both in terms of quantity and monetary value.
This theft occurs against the background of growing concerns about the safety of digital assets and the prevalence of such frauds in the crypto space. This year alone, the losses to this industry have reached to millions of dollars despite US Secret Service, with Canadian authorities, disrupting over $4.3M Ethereum phishing scam. Meanwhile, Immunefi, a platform specializing in web3 bug bounties and security services, claims that thieves have stolen over $92m worth of crypto this month alone.
The post ZachXBT Reveals Identity of $330 Million Bitcoin Theft Victim in US appeared first on CoinGape.