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Luke Gromen, a macro trader, talks about a key moment that could send both gold and Bitcoin (BTC) soaring. Gromen told Blockworks Macro in a recent interview that he thinks Bitcoin and gold will win “either way in the end.” The investment expert says that Bitcoin and gold are likely to go up when the market figures out that the US government is getting ready to print more dollars to pay for its national debt. “If the Fed (Federal Reserve) raises rates too much, they will bankrupt the United States government, and there’s nothing more bullish for gold and for Bitcoin than the moment when markets go, ‘Oh my God, they can’t raise rates more because the only way to pay the interest is if the Fed prints it.’ Obviously, the US government is not going to go nominally bankrupt. The Federal Reserve will print the difference or the US government… But that moment when the market goes, ‘Oh my God, inflation hasn’t come down. They’ve raised rates a bunch. They ...

The UK company Elifinty has launched its “socially conscious” debt management platform for consumers and creditors that is built on open banking. With the start of its EliHUB end-to-end platform, the company is going after what it calls the fragmented and confusing debt management market. Elifinity uses the power of open banking and AI to give people customized help with their debt, tools for managing their spending, and a direct line to professional advisors and debtors. In collaboration with Impact on Urban Health, Elifinty first launched EliHUB in the London boroughs of Southwark and Lambeth. Soon, all UK customers will be able to use the platform. Elifinty’s platform for connecting businesses with their customers, TrustConnect, can be used by banks, energy providers, housing associations, and other creditors. Maysam Rizvi, CEO, Elifinity, says: “It’s unbelievable that until now, customers had nowhere to turn to receive fast and t...

The price of XRP, the native token to one of crypto’s most prominent cross-border money transfer networks, is on a bullish overdrive as the community gazes at the upcoming ruling in the lawsuit against the United States Securities and Exchange Commission (SEC). XRP is trading 6.5% higher on Tuesday towards the end of the Asian session with its 24-hour volume almost at $2.5 billion. If this surge continues, XRP would be on the expressway to overtaking USD Coin (USDC), becoming the fifth-largest crypto. At the moment, XRP is in sixth place, boasting $27.4 billion in market capitalization compared to USDC at approximately $29 billion. The leading international money remittance token trades at $0.5265, climbing to close the gap at the previous high of $0.5871 on March 30. Assessing XRP Price Profitability with Ripple vs SEC Ruling Imminent The final ruling in the Ripple vs SEC lawsuit could be imminent and investors in the ecosystem are not leaving any stone unturned while expres...

Investments in top NFT projects such as Doodles, Invisible Friends, Moonbirds and Goblintown have lost up to 95% of their value in Ether. Some of the most sought-after nonfungible tokens (NFTs) of 2022 have taken a massive hit in value over the past year. The trend mirrors the depreciating value of metaverse properties in 2023, which were considered top virtual lands for investment in 2022. Investments in top NFT projects, including Doodles, Invisible Friends, Moonbirds and Goblintown, have lost up to 95% of their value in Ether (ETH). The value of blue-chip NFT collections alone has fallen down by over 40% on average. The biggest NFTs of 2022 have had a TOUGH 2023. Doodles... 23 ETH 2.3 ETH Invisible Friends... 8 ETH 1.15 ETH Moonbirds... 32 ETH 2 ETH Goblintown... 6 ETH .26 ETH pic.twitter.com/5Fr9BMhmkg — HashBastards NFTs (@HashBastardsNFT) May 21, 2023 Data from NFTGo shows that the Blue Chip Index went down to 7,446 ETH from its yearly high of 12,394 ETH back in July 202...

XRP has created a new all-time high feat on the address activity front. A recent Analysis by on-chain metrics platform Santiment revealed that the XRP network “has now had its 2nd & 3rd largest address activity spikes of all time these past 2 days.” For context, an address is considered to be active when it becomes a direct participant in a successful transaction. So, the latest spike brings to light the refining network activity. In the recent past, whenever such an incline has been noted, the price of the asset has risen. For example, in March, the network noted its largest-ever activity spike. In the following 10 days, the asset’s price inclined by 45%. Source: Santiment Also Read: Why Is XRP Surging by Over 8% Today? XRP’s rally to be renewed? XRP’s price has been rising over the past few days. On the day when the judge declared the production of Hinman’s documents, the price inclined by 8%. Then, on the heels of other positive developments and ‘wins’, the asset r...

It’s soon going to be 20 months since Shiba Inu reached its all-time high of $0.00008616. SHIB reached its ATH in October 2021 and hasn’t been able to reclaim its previous high. The dog-themed cryptocurrency is struggling to stay afloat and is now down close to 90% from its ATH. The token has undergone significant correction in the last 19 months, and investors who brought the dip, are also underwater. Also Read: Shiba Inu To Hit $1 in 365 Days? Here’s a Reality Check Source: Coingecko Shiba Inu has shown no mercy to later entrants while it rewarded early investors with millions in a short period. Investors who took an early entry position in 2020 made a fistful of dollars. Those who entered post-Q3 of 2021, have burnt their pockets as the token experienced a steep fall. SHIB is no longer catering to the 1-cent dream as the dip is shattering investors’ hopes of making life-changing gains. Also Read: Shiba Inu Could Reach $10 by 2024? Here’s a Reality & Fantasy Check ...

BRICS nations are advancing to create a new currency sidelining the U.S. dollar on the international stage. The dollar’s global reserve status could be challenged when the new currency launches and threaten America’s economy. Therefore, the U.S. dollar stands at a pivotal point in a make-or-break situation for its global existence. A total of 25 countries have shown interest in joining BRICS and accepting the new currency for cross-border transactions. Also Read: What Happens if Saudi Arabia Accepts BRICS Currency? BRICS Currency: What Does It Offer That the U.S. Dollar Doesn’t? Source: Unsplash The first thing that the U.S. dollar doesn’t offer to the world is security. The U.S. dollar comes with a risk of debt, as the United States could default on its $31.46 trillion federal debt. A debt default could create havoc not only in America but in all countries holding billions of dollars in reserve. The debt default could destabilize developing nations’ economies making local b...

The ETH balance decline began in September 2022, dropping significantly in November and December after the downfall of FTX. The balance of available Ether (ETH) across crypto exchange s dropped to a five -year low on May 26, bringing the total amount of Ether held on exchange s to 17.86 million. A drastic decline in the exchange supply of ETH like this has not been seen since April 2018. According to Glassnode data, only 14.85% of the total Ether supply is currently held on centralized exchanges, compared with the 25–26% of supply held during the 2021 bull run. The decline in Ether exchange balances. Source: Glassnode The drop in ETH supply began in September 2022, dropping significantly after the FTX crisis in November. Apart from a decline in the exchange balance, Ethereum wallet addresses holding more than 100 ETH have also declined to a six-month low. #Ethereum $ETH Number of Addresses Holding 100+ Coins just reached a 6-month low of 46,858 View metric:https://t.co/FbjiMG3uFX ...

Volumes at Synthetix surpassed its nearest DEX competitor, but contracting user activity across decentralized exchanges could be a red flag. Synthetix weekly trading volumes surpassed $1 billion, overtaking decentralized derivatives exchange GMX to become the second-most active platform. The trading volume data from Token Terminal shows that Synthetix did more than twice the trading of GMX in the seven-day period starting May 17, thanks to Optimism (OP) token incentives for perpetual swap traders. The Synthetix (SNX) token has encountered resistance at the $2.50 level after gaining around 10.3% in the last seven days, per CoinGecko data. On the other hand, GMX and dYdX are experiencing a decline in trading activity, while their native tokens are eyeing bearish targets based on technical levels. OP incentives drive Synthetix volumes Synthetix offers perpetual futures contracts on layer-2 rollup Optimism via a decentralized application called Kwenta. The Synthetix community approved a p...

Shiba Inu (SHIB) is one of the most popular crypto projects out there. One of the goals of SHIB fans and users is for the token’s price to hit $0.01. Many sources have made predictions about SHIB’s price for the foreseeable future. However, is $0.01 a reality? According to the fintech comparison platform Finder, SHIB prices will hit $0.00004930 by 2025. Finder polled 55 fintech specialists and industry experts on how SHIB would perform. Most of the panel (50%) were not sure that Shibarium, SHIB’s upcoming layer-2, would positively impact Shiba Inu’s price. Only 25% felt that Shibarium would have a positive impact on the asset’s price. However, it should be noted that Finder’s report is from October 2022. A lot has happened since then, and market behavior has significantly changed. On the other hand, Changelly has a more pessimistic view of SHIB. The non-custodial crypto exchange says SHIB would only be able to secure a maximum price of $0.00002694 by 2025. Furthermore, Changelly say...

According to a renowned analyst and founder of MN Trading Michael van de Poppe, Bitcoin’s price is at a critical level. He believes the next move would significantly affect Bitcoin’s price development. He also noted the price is hovering around local lows and breaking below recognizable support. #Bitcoin still swimming around the lows. Last night we've seen a sweep of the low at $26.1K, no sweep of $25.8K yet. Today is probably the decisive day for trend-based perspectives. If we run back up to $26.6Kish, I think we've seen the low. Looking at longs. pic.twitter.com/O4R6SskGfN — Michaël van de Poppe (@CryptoMichNL) May 25, 2023 According to Van der Poppe, Bitcoin broke below $26,100, a significant support, but is yet to fall below another support at $25,800. He noted that today’s price action could be decisive for trend-based perspectives. Van der Poppe drew his Analysis from the two-hour BTC/USDT chart on TradingView, which showed Bitcoin trading ...

Join Our Telegram channel to stay up to date on breaking news coverage Trader Michael Wrubel highlighted AiDoge as the most talked-about memecoin with a low market cap and strong potential to generate profit quickly. The AiDoge stage 16 presale succeeded in raising over $11.6 million and completely sold out, causing quite a stir in the cryptocurrency market. Trader Michael Wrubel defines the fantastic capabilities of AiDoge The groundbreaking platform known as AiDoge provides users with an extraordinary meme creation opportunity that was developed with the shifting cryptocurrency market. Essential Features , such as text-based prompts, an AI-powered meme generator, and AI tokens that serve as transaction currency, have been added to it as well. By providing text instructions, users of AiDoge are able to quickly create memes, which will be used by an artificial intelligence system to generate memes that are both enjoyable and relevant. Every image produced by AiDoge’s me...

The venture capital firm will allocate up to $200,000 to blockchain projects that it deems promising. On May 24, Singaporean venture capital firm Foresight Ventures announced that it would pledge an additional $10 million to its Foresight X Accelerator, bringing its total to $20 million. The move comes as the firm opens the second phase of accelerator applications, which will focus on Web3 projects building in the artificial intelligence (AI), zero-knowledge (ZK), machine learning, Bitcoin (BTC), liquid staking derivatives, and nonfungible token ecosystems. Previously, Foresight earmarked $10 million for its accelerator , which launched last November. In its first phase, Foresight focused on 30 companies from its Web3 project pool, providing an investment of $50,000 to $200,000. As the accelerator moves into its second phase, Foresight will allocate $200,000 to each selected project and assign up to three mentors and one fund partner from the VC firm to provide practical guidance...

Commenting on the current Bitcoin price strides, popular on-chain analyst Rekt Capital said the top cryptocurrency may be forming an “exaggerated” bullish divergence on the daily RSI. advertisement He believes that despite the enthusiasm for growth, investors will be better off to understand that the key resistance for Bitcoin to breach is pegged at $27,600. With Bitcoin price notably below this highlighted resistance point, the assumption that the crypto has broken free from its major instability appears to be a fallacy in this instance. Bitcoin remains the major marker for other altcoins and with the sheer skepticism lent into the price outlook of the asset, we cannot categorically state that other altcoins are also on their path to recording major price runs.  Bitcoin Recovery: The US Economy Factor There have been a lot of factors weighing down the growth push of Bitcoin over the past few weeks and one of the latest is the i...