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VIRTUAL PROTOCOL PRICE ANALYSIS & PREDICTION (February 21) – VIRTUAL Bounces Slightly Amid Latest Surge, Can It Sustain Momentum?
Several altcoins have continued to paint green scenarios in the past hours along with VIRTUAL, which has posted over 20% gains since yesterday. However, its short-term outlook remains bearish. Today marks another interesting moment in the market as altcoins post mild gains. VIRTUAL is not left behind in the surge as it charted substantial gains after mounting support at $0.933 this week Before now, the asset experienced a serious decline after failing to sustain bullish momentum above the $6 level earlier in January. Despite the drops, the asset remains within a buying range from a long-term perspective, although the bulls may completely lose control if the price drops below last year's low. Back to the latest surge, which came as a retest of the recent breakdown level, it has generated some positive bias since yesterday. It currently faces resistance at […]
$PAIN Token’s Pre-Sale Struggles: A Whale’s Risky Move Amid Market Decline
In the volatile cryptocurrency world, nothing attracts attention quite like the activities of large investors, known as "whales." Their buying and selling can create markets or can signal to everyone that it's time to head for the doors. Not surprisingly, then, that recent moves by a particular whale have caught our attention. This whale has been making some not-so-great decisions that, as it turns out, are shedding some light on just how iffy an investment the $PAIN token might be. Indeed, the market cap of this token has fallen off a cliff in recent sessions, from $257 million at its height to $150 million this week. Whale Moves in the $PAIN Pre-Sale The investor in question sunk a large amount of money into the $PAIN token pre-sale, a move that might be raising eyebrows given the current state of the […]
Pig Butchering Scams: Crypto’s $5.5B Crisis in 2024
Cryptocurrency investors have become a major target of a new kind of fraud known as "Pig Butchering" scams. These scams, which have been used to defraud a total of over $5.5 billion and have currently been hitting the crypto space really hard, are one of the biggest threats to crypto today. They are not just your ordinary scams, though. Pig Butchering scams are incredibly well-crafted and executed. The scheme gets its name from the way the scammers fatten up their victims (as in feeding a pig) before making off with the victims' life savings. The nature of this scheme means it is devastating to any target that it hits. https://twitter.com/CyversAlerts/status/1892549645194129788?t=R3AWt4v81PQbHej3b2UjCw&s=19 The Rise of AI-Powered Fraud Pig Butchering scams are highly sophisticated, with the authors of the scams taking advantage of both human psychology and advanced technology. They usually go after […]
$PAIN Token Finally Launches After Delay: Concerns Arise Over Team’s Massive Token Sale
Following a delay of two weeks, the $PAIN token has launched - something investors and cryptocurrency enthusiasts have eagerly awaited. However, the launch has already sparked significant controversy, primarily because of recent disclosures about the token's distribution and a "team sale" of tokens associated with the project's architects. Indeed, the way in which the token has been released has led some to question the project's integrity and the motivations of its leaders. Token Economics and Distribution Now making its debut, the PAIN token has a total supply of 10 million tokens. The distribution of these tokens has been clearly laid out in the official announcement, with some surprising details that are causing concern in the market. - 50% of the tokens go to Harold, the project lead who is really the only person connected to the creation and development of […]
Solana’s Tumultuous Week: $SOL Falls Out of the Top 5 Amid LIBRA Scandal and BNB Surge
The past week has brought Solana ($SOL) a series of unfortunate events that have taken a toll on its standing in the crypto world, not to mention the health of its ecosystem. And while it might seem like Solana has a target on its back, its problems appear to be the result of a perfect storm of events. From the shocking LIBRA crypto scam to the top-of-the-charts performance from Binance Coin (BNB), one area of Solana's life isn't making up for the lack in any other area. For the first time in quite a while, Solana finds itself outside the top five by market cap. Let's break down the series of events that have made for some chaotic times for the Solana team. The LIBRA Scandal and Its Fallout Solana suffered its worst setback with the exposure of the LIBRA […]
HEDERA PRICE ANALYSIS & PREDICTION (February 20) –Hbar Bounces Slightly After Weeks of Drops, Find Temporal Support
Hbar continued to recover after shedding massive losses in the past weeks. However, its outlook remains bearish on the daily chart but is now showing signs of strength after locating support. The aftermath of the early month crash has caused a lot skepticism among investors, although few mid-cap altcoins have seen a slight recovery but Hbar remains red amid rising supply. On Tuesday, the crypto found temporal support after testing the $0.19 level. It bounced off this level and increased near $0.23, retesting a recently broken minor support level as resistance. A rejection occurred there and the price retraced to where it currently trades at $0.22. The bears are still gaining dominance on the daily chart. If they step back into action, the price will continue to dip until exhaustion sets in. Meanwhile, the bulls are currently pessimistic about the […]
YZi Labs Makes Strategic Move: $206K Transfer to Gate and Unveiling of Asset Holdings
A major transfer of seven tokens worth $206,000 to the Gate exchange has put YZi Labs, formerly known as Binance Labs, in the headlines. The tokens had previously been unlocked via investment and ownership, but they seemed to be going nowhere—at least, not onto Binance's exchange platform. So, YZi Labs transferred the tokens. This move could indicate YZi's new direction, in which it might focus on token projects with more potential to list and appreciate—this is kind of critical, considering YZi remains an influential investment firm in the crypto space. YZi Labs’ Shift to Gate: A Tactical Exit from Binance YZi Labs, once a major player under the Binance umbrella, has made the bold decision to transfer seven tokens worth a total of $206,000 to the Gate exchange. These tokens are: $ULTI (Ultiverse), $OLE (OpenLeverage), $MAVIA (MaviaGame), $SQR (MagicSquare), $NLK […]
A Profitable Scheme: The $Broccoli Whale Creates “New Broccoli” and Ends Up With $460,000 Profit
Cryptocurrency's ever-evolving world brings new stories to light that showcase the cleverness and enigma of creating tokens. One such story tells of a $Broccoli whale—an individual who has raked in a significant amount of trading fortunes in $Broccoli tokens—embarking on a bold new journey. This ambitious fellow, after securing a cool $460,000, made the strange decision to not only create a brand-new token but to also seek to assassinate $Broccoli in the process. What ensued was a wild series of transactions where the "New Broccoli" was born and an enormous donation to the famous crypto figure CZ was made. The Birth of "New Broccoli" The tale started when the whale, having just pocketed an incredible profit of $460,000 from $Broccoli, thought to himself, “Hey, why not take this to the next level?” The very next day, after receiving a reply […]
DOGECOIN PRICE ANALYSIS & PREDICTION (February 19) – Is Doge Set For Another Crackdown Following This Bearish Move?
After experiencing a short recovery last week, Doge resumed drops and started to lose ground again on a daily scale. However, it currently sits near a key support level and now looks set for another breakdown. Doge's price is waxing weaker weekly following the latest drawdown as the bears continue to take charge on the daily chart. The primary meme coin is seriously in red today due to a 10% drop in the past few days. It currently approaches a vital support level and looks prime for another major crash. It is important to note the supply level is on the rise again. Meanwhile, the latest bearish came after a short recovery to the $0.287 level last week. It marked resistance there and initiated drops. A plunge through the immediate support could cause a serious reduction. While this bearish move […]
Galaxy Digital Faces Significant Losses on Memecoin Investments Amidst High Risk Bets
In the last few months, the prominent crypto investment firm Galaxy Digital, led by billionaire Mike Novogratz, has made some pretty audacious moves in the unstable world of Memecoins. The company has taken more than a few bold steps in the last couple of months to try and stabilize its Memecoin investments and recover some of the losses. These investments were made, it bears mentioning, not in the prospect of the assets returning some far-fetched Memecoin miracle but because of a perception among some at Galaxy that these were the types of (largely pointless) crypto projects that have the potential to return outsized gains. Breakdown of the Losses: PNUT, ai16z, and ARC Among the three Memecoins in which Galaxy Digital has invested heavily, the losses are especially pronounced for PNUT, the most prominent holding in the firm’s portfolio. Galaxy has […]