Crypto Guides, Knowledge & Insights

Ethereum Price Could See Recovery If It’s Able to Clear $1,800

Ethereum price is attempting a recovery wave above the $1,740 level against the US Dollar. ETH could rise steadily if there is a move above the $1,780 resistance.　　Ethereum is still below the $1,780 and $1,800 resistance levels. The price is trading below $1,780 and the 100-hourly Simple Moving Average. There was a break above a major bearish trend line with resistance near $1,740 on the hourly chart of ETH/USD (data feed via Kraken).　　The pair could recover if there is a move above the $1,780 and $1,800 levels. Ethereum Price Forms Support Base　　Ethereums price settled below the $1,775 and $1,780 resistance levels. ETH tested the $1,720 zone and is currently forming a support base, similar to Bitcoin.　　A low is formed near $1,718 and the price is attempting a recovery wave. The price is slowly moving higher above the $1,740 level. There was a break above a major bearish trend line with resistance near $1,740 on the hourly chart of ETH/USD.　　Ether is now testing the 23.6% Fib retracement level of the main drop from the $1,854 swing high to the $1,718 low. However, it is still trading below $1,780 and the 100-hourly Simple Moving Average.　　Immediate resistance is near the $1,770 zone and

2023-06-13Deep Dive

Binance Fights Back Against SEC Lawsuit Over Alleged Securities Violations

The cryptocurrency exchange filed more than 20 motions and declarations late Monday.　　A week, after the US Securities and Exchange Commission filed charges against Binance, the largest cryptocurrency exchange by volume, filed several motions in the US District Court for the District of Columbia on Monday in opposition to the lawsuit.　　“The SEC‘s request for a temporary restraining order should be denied for several reasons, but the most important is this: there is no risk to BAM’s customer assets,” Binance attorney Daniel W. Nelson said in a motion signed by multiple lawyers for the exchange. “Indeed, there is no ‘emergency’ here at all, other than the one manufactured by the SEC for its own purposes, when the alleged securities law violations, according to the SEC, have been going on publicly and openly for years.”　　Last week, the SEC filed 13 charges against Binance, Binance.US, and Binance founder and CEO Changpeng “CZ” Zhao, claiming Zhao broke US securities rules, including operating unregistered exchanges, broker-dealers, and clearing agencies, misrepresenting trading controls and oversight on the Binance.US platform, and engaging in the unregistered offer and sale of securities.　　The SEC also alleges that Zhao and Binance engaged in an extensive “web of deception,” including conflicts of interest,

2023-06-13Deep Dive

SEC Enforcement Actions Up 9%, Reaching 760 Actions In 2022

The SEC is still taking strong actions to accomplish its goal of controlling the cryptocurrency market.　　In 2022, the agencys total assets increased by $1.9 billion, and accounts receivable increased by $1.5 billion, most of which included foreclosure income.　　The SEC launched 760 enforcement actions in fiscal year 2022, up 9% from the previous year.　　According to data from the SECs balance sheet, according to the annual report for fiscal year 2022, the total assets of the SEC have increased from $12.2 billion to $14.1 billion, an increase of $1.9 billion. Among them, the investment account increased by $400 million; accounts receivable increased by $1.5 billion. Most of these two include foreclosure income and investment accounts deducting expenditures during monitoring.　　In addition to fines and forfeitures, OMBs 2022 budget for its reserves is $50 million, and the investor protection budget is $390 million; SEC transaction fees are about $1.8 billion; and the registration fee is $640 million. Foreclosure income has become a kind of [pillar income].　　These enforcement actions have resulted in high revenue: Ordered payments totaled $6.439 billion, including civil penalties, forfeiture, and pre-judgment interest, the highest in its history and up from $3.852 billion in Fiscal Year 2021. Civil fines amounted to $419.4

2023-06-12Deep Dive

Bitcoin Dominance Hits 2-Year High After The SEC Pressured The Crypto Market

Bitcoin dominance is returning to 50% while the market is still volatile.　　The SEC hit altcoins labeled as securities causing them to drop.　　This is the prospect for BTC regaining its dominance if optimism grows.　　In recent times, with strong and drastic actions from the U.S. Securities and Exchange Commission, the crypto market has had some transitions in terms of cash flow. Currently, Bitcoin (BTC) holds the largest share of the market, and the trend is slowly increasing.　　According to Tradingview, with the recent drop of altcoins and Bitcoin‘s relative stability, Bitcoin’s market share has lately reached close to 50%, a new high since April 2021.　　BTC dominance chart. Source: TradingView　　Throughout the bear market era from 2018 to 2021, Bitcoins market share was consistently more than 50%, reaching 73% at the start of 2021.　　This is also an easy trend to explain when altcoins are facing pressure from the SEC. The SEC specifically specifies 19 cryptos as securities in the lawsuits against Binance and Coinbase. Tokens such as MATIC, SOL, and ADA, which were once considered cutting-edge solutions, are currently facing a severe decline. Meanwhile, Bitcoin and some proof of work (PoW) tokens (no PoW tokens are currently listed as securities on the list mentioned by

2023-06-12Deep Dive

What Is DRC-20? Will This New Token Standard Help Dogecoin Grow?

The number of DOGE transactions skyrocketed thanks to the recent introduction of the DRC-20 token standard.　　With DRC-20, it is very cheap to mint new tokens.　　The development has excited Dogecoin community members but has also sparked debate and discussion in the crypto community.　　DRC-20 is a token standard that has acquired popularity in the crypto world, especially in relation to Dogecoin (DOGE). With the success of BRC-20, new token standards such as ORC-20,… and now DRC-20 have been developed.　　So more specifically, what is DRC-20？ What‘s so special about this token standard？ Let’s find out with Coincu in this article.　　What is DRC-20？　　The DRC-20 token was released on May 9 and is built on the same technological foundation as the BRC-20 coin.　　Digital works, like the BRC-20 standard, are readable on the smallest DOGE unit, known as an Elon. According to the convention, 100,000,000 Elon equals one DOGE.　　DRC-20 is a token standard created to address the issues and deficiencies left by BRC-20. With its lightning-fast transaction speed and cheaper costs, it has piqued the interest of both investors and lovers of these token standards.　　When a better solution is required, creativity arises to save time. And the DRC-20 is designed to look to do just that.　　Inscriptions

2023-06-12Deep Dive

YouTube, TikTok, Twitter Face Challenge For Misleading Crypto Promotion

Instagram, YouTube, TikTok, and Twitter may be subject to regulatory action by a consumer organization that filed complaints with the European Commission.　　The emergence of deceptive marketing for crypto assets on social media platforms, according to the BEUC, is unfair business conduct.　　It claimed that advertising and influencers were causing considerable damage, including huge financial loss.　　BEUC, an umbrella organization of European consumer groups, has filed a complaint with European Union consumer protection regulators, requesting that Instagram, YouTube, TikTok, and Twitter tighten their crypto advertising policies.　　According to the organization, an increasing number of adverts promoting crypto assets on social media platforms constitute unfair business behavior, exposing customers to substantial losses.　　It was said that this was accomplished via advertising and influencers.　　The BEUC encouraged the Consumer Protection Cooperation Network to force internet platforms to implement tougher crypto advertising regulations and to take steps to prevent influencers from deceiving customers.　　According to the complaint, national authorities should force social media platforms to strengthen their regulations and prohibit influencers from promoting cryptocurrency. In a statement, Director General Monique Goyens said:　　Consumers are increasingly being promised ‘get rich quick’ investments by ads and influencers on social media. Unfortunately, in most cases, these claims are too good to be true and

2023-06-09Deep Dive

SEC Chair Gary Gensler Warns The Crypto Frenzy To Investors

SEC Chair Gensler believes that most crypto tokens are securities and must be regulated by the SEC.　　He emphasizes that the crypto markets should not harm investors or undermine public trust in the capital markets.　　Ongoing lawsuits against Coinbase and Binance reflect Genslers strong stance on crypto regulation.　　SEC Chair Gary Gensler has publicly shared his views on cryptocurrencies and the frenzy surrounding them many times. However, his latest speech at the Piper Sandler Global Exchange and FinTech Conference in New York City has put a spotlight on his strong stance on the matter.　　Gensler has doubled down on his opinion that most crypto tokens are securities and come under the purview of the SEC. He believes that the current crypto frenzy is reminiscent of what the US experienced in the 1920s before federal securities laws were put in place. Gensler also criticized exchanges that list such tokens, saying they must register with the regulatory agency.　　Gensler emphasized that the crypto securities markets should not be allowed to undermine the publics trust in the capital markets. He stated that the well-earned trust that the public has in the capital markets should not be undermined by such markets. He also added that the crypto markets should

2023-06-09Deep Dive

Rumor: Gary Gensler Accused Of Market Manipulation In $2.5 Million Short Position

Gary Gensler, chairperson of the U.S. Securities and Exchange Commission (SEC), has been accused of market manipulation by shorting Bitcoin (BTC) and other crypto-focused stocks.　　Coinbase, one of the largest cryptocurrency exchanges, is rumored to have evidence supporting the allegations against Gensler.　　Gary Gensler, chair of the SEC, is accused of market manipulation. Coinbase may have evidence of Gensler shorting BTC. Allegations are unverified.　　Recently, Gary Gensler, chairman of the U.S. Securities and Exchange Commission (SEC), has been accused of market manipulation. The petition has been started against the SEC chair.　　According to a source named Capo WSB, Coinbase, one of the largest cryptocurrency exchanges, is rumored to have evidence that Gensler placed substantial short positions in Bitcoin (BTC), amounting to over $2.5 million, barely 48 hours ago. Although the specifics of this information have yet to be made public, the evidence is believed to be solid enough to warrant serious examination and further research.　　The potential consequences of these claims extend beyond Gary Genslers career. They could also threaten the credibility of the SEC, the primary regulatory organization for financial and securities markets in the United States. As Chairperson of the SEC, Gensler is responsible for ensuring fair and transparent markets. However, it is

2023-06-09Deep Dive

ChatGPT Predicts: Things That Will Trigger the Next Bitcoin Bull Market

From market and institutional adoption, to regulatory clarity and the BTC halving – these are the factors that will drive the next bull market, according to ChatGPT.　　Bitcoin has undergone numerous ups and downs in its relatively short history, but only a few have been proclaimed as a full-on bull market. The latest one was back in late 2021 when the cryptocurrency skyrocketed to its ATH of $69,000.　　What followed was a massive price decline that resulted in BTC dumping all the way down below $20,000 amid multiple collapses in the industry, as well as galloping global inflation and war in Europe.　　As bitcoin has recovered a lot of ground since its sub-$16,000 endeavor, the community frequently speculates whether a new bull market has already started or is it right around the corner. In this topic, we will explore what the AI chatbot ChatGPT thinks about it.　　Adoption　　Although ChatGPT has had a few things wrong about BTC, such as its all-time high price, the chatbot provided some interesting findings on what could propel the next bull market. First and foremost, it highlighted global adoption, which comes in two parts – market and institutional – and we have combined them into one.　　As far as market

2023-06-08Deep Dive

Hong Kong Regulator Backs Tokenisation In Finance For Better Access To Crypto

Hong Kongs Securities and Futures Commission (SFC) expresses support for tokenisation in finance, with plans to amend policies for better access to cryptocurrency investments.　　The SFC ensures investor protection and cybersecurity while exploring the benefits of tokenisation for improved efficiency.　　Franklin Templeton Investments is optimistic about the potential of blockchain and tokenisation, focusing on digital assets and a recent US-registered mutual fund using Polygon blockchain for transactions and record-keeping.　　Hong Kongs SFC supports tokenisation in finance, ensuring cybersecurity and investor protection. Blockchain enhances efficiency. Franklin Templeton also bullish.　　Hong Kongs Securities and Futures Commission (SFC) recently expressed its support for the use of tokenisation in the financial industry. Elizabeth Wong, head of the financial technology department of the SFC, said that the commission will continue to amend and evolve policies for better access to cryptocurrency investments.　　The SFC has already provided certain regulatory oversight and investor protection to licensed virtual-asset platforms. Wong added that the SFC will apply the same code of conduct to fund managers looking to invest portfolios in virtual assets. Blockchain technology can ensure or enhance efficiency, according to Wong.　　The watchdog is actively looking into the benefits of tokenisation while also ensuring that investors are not any worse off. Cybersecurity is the

2023-06-08Deep Dive

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