Rug pulls or carpet pulls are a very common scam model in the world of crypto assets, especially in crypto projects that are based on a decentralized finance system.
It occurs when the developers behind a project launch a token and attract investors to increase its value, only to suddenly withdraw the funds and take the money. When scammers drain the liquidity pools, the price of the crypto asset falls to zero and investors lose the ability to exchange the tokens for more stable ones or fiat money.
The #Bitcoin briefly plummeted to US$113,000 yesterday, leaving traders reeling and liquidations piling up across the cryptocurrency market. The drop dragged its market capitalization to US$2.2 trillion, while the wave of forced liquidations on derivatives exchanges totaled over US$863 million.
The support zone of the token #XRP between US$2.80 and US$2.95 is becoming a key battleground between bears and bulls, and some analysts consider it a critical price level that will determine the future of the token during the month of August. In its four-hour chart, XRP shows a bullish divergence, a common signal that often points to a potential trend reversal.
The International Monetary Fund published an article on Thursday recommending what it calls an updated System of National Accounts, which measures and incorporates the value of emerging technologies, including #Bitcoin and other cryptocurrencies, in the calculation of a country's gross domestic product.
⚠️Analyze the information provided with your knowledge and experience in #Trading before investing, and remember that this market is very volatile and can lead to significant gains as well as losses. If you decide to trade the signal, all consequences that arise from it will be entirely your responsibility. In the event that you decide to use leverage, remember to set the Stop Loss according to your investment criteria.
The failure of #Bitcoin to stay above US$120,000 was accompanied by an increase in selling by large BTC whales, marking what analysts call the third major wave of profit-taking in this bull run.
Realized gains in Bitcoin soared to between US$6 billion and US$8 billion at the end of July, levels that coincided with or near the local highs in March and December 2024.
Algeria approved a new law that criminalizes any form of use, exchange, or mining of cryptocurrencies. Reportedly, the measure aims to protect the national financial system and strengthen defenses against money laundering and the financing of terrorism.
The measure, which has been in the works for a long time, marks a shift in Algeria's stance on digital assets, moving from previous cautious messages to a formal ban and the explicit criminalization of all activities related to cryptocurrencies within its borders.
The Fan Token of Atlético de Madrid registered a 52% increase driven by the start of the preseason, key movements in the transfer market, and new fan engagement dynamics through SociosCom.
The price of the asset rose, reaching US$1.76, with a cumulative increase of 39.7% in 24 hours and 49.83% in the last seven days. The market capitalization stood at around US$12 million. The trading volume in 24 hours grew by almost 500%, reaching US$82 million.
The #Bitcoin recovered from its sudden crash yesterday, trading above US$118,000. The crash followed the decision of the US Federal Reserve to maintain interest rates, causing BTC to drop to a low of US$115,700. The sudden crash triggered liquidations amounting to US$431 million in long and short positions wiped out in 24 hours.
An anonymous whale of #Bitcoin dispatched exactly 10 BTC from each of its wallets, totaling over 500 BTC. At the time these coins were originally acquired, Bitcoin was fluctuating between $2,500 and $2,650 each. That places its value in 2017 at $1.3 million. With BTC prices in the low range reaching $116,000 per coin, that same batch now has a staggering value of $58 million.
The founders of the Bitcoin mixer Samourai Wallet will plead guilty, the two responsible for the Bitcoin mixing application had previously pleaded not guilty when the U.S. Department of Justice charged them.
The formal indictment filed last year alleged that by offering Samourai as a privacy service, the defendants knew it was a haven for criminals engaged in large-scale money laundering and evading sanctions. Bitcoin mixers and other cryptocurrencies are services that obscure cryptocurrency transactions by combining them, making payments harder to trace.
Wyoming Senator Cynthia Lummis has introduced a bill that could codify an order from a US housing regulatory agency requiring mortgage buyers to consider crypto assets in their applications.
If approved, the legislation could give more weight to the June order from a US housing regulatory agency to consider certain crypto assets in mortgage loan risk assessments.
Futures data for the XRP token shows a neutral sentiment despite the altcoin's double-digit price drop from $3.60. This movement was accompanied by a $2.4 billion drop in XRP's futures open interest, a metric that reflects the total value of outstanding leveraged positions.
Some traders are now concerned that the routine market volatility could trigger cascading liquidations, which could drive XRP below $2.60.
Ethereum shows renewed strength as growing demand, high network activity, and bullish technicals align to support ETH's momentum above $4,000. Several converging factors, including strong ETF inflows, solid network activity, and favorable technical indicators, suggest that an imminent advance could occur.
The Implied Volatility Index of #Bitcoin has fallen to its lowest level since September 2023, hinting at a possible breakout. The realized capital reduction of short-term holders is at -8%, which historically is a bullish accumulation zone. The last time the BVIV was this low, in September 2023, BTC recovered nearly 50% from US$26,000.
The company listed on the Nasdaq and previously operating as a low-value stock under the name SRM Entertainment, Tron Inc., is seeking approval from U.S. regulators to raise $1 billion in order to expand its holdings in TRX, following its reverse merger with Justin Sun's blockchain project.
The funds raised will be allocated to expanding the company's TRX treasury, which already holds more than 365 million TRX tokens following its reverse merger last month.
The veteran trader of a thousand battles, Peter Brandt, has reignited the debate about the long-term parabolic trajectory of Bitcoin by sharing an updated version of what he now calls the Bitcoin Banana.
Brandt's chart, which spans from the inception of Bitcoin to projections for 2029, shows the remarkable rise of the asset within a wide and curved band, suggesting that, despite periods of volatility, the overall trend remains upward.
The banana curve captures each of Bitcoin's major bull and bear cycles, with the price consistently returning to the midpoint of this elongated parabolic zone.
The network hash rate of #Bitcoin rose yesterday to 942.96 exahashes per second (EH/s), just 3 EH/s below its all-time high. This elevated level can be attributed to more attractive and stable mining profits over the past month.
The price of Bitcoin hash jumped from approximately US$54 per petahash per second on June 27 to a monthly peak near US$64 PH/s by July 10, the highlighted increase of the month. But the rally did not last long. The peak was followed by a drop and a handful of moderate fluctuations between US$58 and US$62 PH/s.