Crypto News

Bitcoin (BTC) and other major tokens lost more than 3% as Tuesday’s rally was met with profit-taking during Asian morning hours Wednesday — in line with expectations. Overall crypto market capitalization fell 3.3% in the past 24 hours, with BTC sliding to nearly $83,500 from a high above $84,200 a day earlier. Ether (ETH) and Cardano’s ADA fell as much as 5% to lead losses among majors. XRP showed steady declines, with price action suggesting a plunge in the coming days. Fundamentals showed a positive bump, however, with exchange-traded fund (ETF) provider ProShares amending its spot XRP ETF (to be offered in the U.S.) filing on Tuesday — targeting a launch date of April 30.Bitcoin selling by large investors has...

Coinbase called on Australia to back crypto reform in the May 3 vote, warning lack of regulation is driving talent and capital offshore.Source link

China cracks down hard on cross-border crypto fraud, jailing fraudsters in a major blow to digital crime targeting Indians. China Drops Heavy Prison Terms Over Cross-Border Crypto Fraud on Indians A wide-reaching crypto scam targeting Indian nationals has led to harsh prison terms for a group of Chinese fraudsters, following months of investigation and judicialSource link

Payments-focused XRP's immediate prospects look bleak, with its price chart flashing a "rising wedge" breakdown.A rising wedge comprises two converging trendlines that connect higher lows and higher highs. This convergence suggests that upward momentum is weakening. When the price moves below the lower trendline, it signals a shift to a bearish trend.XRP dived out of its rising wedge pattern during Wednesday's early Asian hours, suggesting that the attempted recovery from the April 7 lows near $1.60 has likely lost momentum, allowing sellers to regain control.According to technical analysis theory, analysts should identify the starting point of the rising wedge as the initial support level following the breakdown, which means XRP can now fall back to $1.60. The cryptocurrency has also...

For the first time in history, dapps are generating more revenue than blockchains, raising questions about the real value of the latter without the former, and how this trend could accelerate the rise of appchains. Dapps Are Generating More Revenue Than Blockchains The decentralized finance industry is entering a new state where applications are becomingSource link