The price of SUI has experienced a significant decline in the past week, dropping by 38.13%. In the last 24 hours alone, the price has fallen by 21.51%. However, there is a glimmer of hope as the price slightly increased by 1.53% in the past hour. Currently priced at $0.58 per SUI, the token is 61.12% below its all-time high of $1.50. The question now remains whether SUI can regain its footing and initiate a recovery.

SUI Coin Faces Bearish Pressure 

The global crypto market cap has dropped below $1.10 trillion again, leading to a negative trading sentiment across most cryptocurrencies. SUI coin, in particular, has experienced a significant decline of over 10% in the past 24 hours, with its price falling below $0.70. The assets technical analysis suggests a bearish trend, characterized by high selling pressure and struggles for buyers to reverse the downward momentum.

Related Reading: Cardano (ADA) Faces Obstacles In Reaching Key Level In June Heres Why

On the 4-hour timeframe chart, the SUI coin has been in a downtrend, seeking stable support. It trades below its short-term and long-term moving averages, with the 50-day MA at approximately $0.837 and the 200-day MA at $1.020. This positioning below the moving averages signifies a consistent decline in the coins price, potentially indicating a lack of buying pressure and weakened market sentiment.

The immediate support level for the SUI coin is at $0.50, while the resistance level stands at around $0.76. Recent rejection below the resistance level has fueled the downtrend. Furthermore, the Relative Strength Index (RSI) on the 4-hour timeframe chart confirms the bearish sentiment, with an RSI of 17.9 indicating oversold conditions. Sellers currently outnumber buyers, further adding to the downward pressure on the SUI coin.

Partnership With Red Bull Racing: Can This Be A Catalyst For SUI Tokens Revival

The recent multiyear partnership between Sui and Formula Ones Oracle Red Bull Racing team has the potential to rejuvenate the Sui token price. As Sui becomes the blockchain partner of a renowned and globally recognized racing team, it gai...

Lagos, Nigeria (Nupo Deyon Daniel/Unsplash)

This is an opinion editorial by Enza Coin, a Bitcoin-focused investor and content creator.

The other day I was looking through my closet and found a pair of my old FitFlops. Does anyone remember these? FitFlops sold for some $100 and promised to work your legs into shape just by walking. Seeing them made me recall the time I spent traveling across Asia from around 2008 onward.

In those years and into the early 2010s, I was busy managing a company based in Hong Kong while accompanying my then boyfriend/fianc around Asia. He worked on various finance projects with governments in the region, flashing his MBA, two masters degrees and finance background while I occupied my days, and some nights, with corporate matters and adding to my investment portfolio. In those days, that meant investing in various equities, some Asian venture capital funds and an occasional seed funding opportunity.

Apart from that, I also did some modeling for advertisements and through this I earned my play money. And, what did I intend to do with my play money? I wanted to invest in bitcoin.

My First Steps

In 2010, with Bitcoins genesis block having been mined just one year prior, I came across some stories about this wonder-currency. I was intrigued and interested in investing. I struggled trying to find enough information and to sort through the comments for and against it. The challenges were massive. It seemed easier just to forget about it and go drink another espresso.

How could I invest? How could I sort through the many technical aspects? I felt like I needed to have a degree in programming. Moreover, I had concerns that if I did figure out where to buy it and how to hold it, then was I going to get some virus on my PC as a result or be pursued by someone from the dark side after I did? Could I be subjected to the many scams or hacks that I was reading about?

It is sad to think, however, that even 14 years since the genesis block, some of these impediments remain for many people, stifling greater Bitcoin adoption.

Asking The Expert

As I mentioned earlier, my then boyfriend/fianc was apparently a financial expert. I mean, he was advising governments on their finances and economic development. He had been investing in stock markets since he was a teenager. So, why not ask him for help and his thoughts?

One weekend while in Singapore, I sprung the news and my questions. I recall that day so vividly. I mentioned Bitcoin and my desire to buy $100 worth and sell it after it grew to $1,000 worth. I thought it was fine to gamble a small amount because, even if I lost it all, I would somehow survive the loss perhaps with only a few hours spent at a therapist.

Anyway, this is what I heard:

What? Bitcoin? Thats just for use by scammers and prostitutes....

The Optimism Bedrock marks a significant milestone in the networks evolution. This groundbreaking upgrade, successfully launched on June 7, ushers in a plethora of major advancements, most notably an impressive reduction in network costs.

By implementing a so-called optimized batch compression and leveraging Ethereum as a data availability layer, the Bedrock upgrade has achieved a remarkable 56.1% decrease in transaction fees.

These findings, meticulously compiled by OP Labs, Optimisms core developer, highlight the tangible benefits that users have already begun to experience.

In just a matter of days, the Bedrock upgrade has resulted in nearly $150,000 in savings for users, showcasing the immediate impact and financial advantages brought forth by this transformative enhancement.

Optimisms expected total user savings since migration, or during the first month in US dollars, is around $210,929.

This development has brought about a significant cost advantage for Optimism, facilitating the swift confirmation of transaction batches on the Ethereum network. As a result, the average transaction fees on Optimism have experienced a substantial decrease, plummeting from $0.57 to a mere $0.16.

Bedrock Upgrade: Paving The Way For Superchain Revolution

While the reduction in transaction fees is undoubtedly a remarkable improvement, the Bedrock upgrade holds greater significance as a crucial component of the developers ambitious visionthe creation of a groundbreaking Superchain. This visionary concept revolves around establishing an interconnected network of chains, leveraging Optimisms OP Stack software.

To commemorate the Bedrock upgrade, were releasing an open-editio...

Dogecoin (DOGE) has recently found itself at the center of a storm caused by the US Securities and Exchange Commissions (SEC) lawsuit against major exchanges Binance and Coinbase. As media outlets spread fear, uncertainty, and doubt regarding the legal proceedings, the market capitalization of this meme coin has experienced a significant drop.

However, despite the turbulence, on-chain data reveals that the long-term loyalists of the Dogecoin community remain resolute in their support.

In the face of the dwindling media mentions and the calming of the storm, a compelling question arises: could this be the opportune moment for bullish investors to seize the dip and spur yet another impressive price rebound for DOGE?

Dogecoin (DOGE) Holders Show Resilience Amidst Market Turbulence

According to detailed on-chain analysis, it appears that the recent sell-offs and price drops in DOGE were primarily driven by short-term traders rather than committed long-term holders. A comprehensive Santiment chart illustrates this phenomenon, showcasing a notable increase in Mean Coin Age within the Dogecoin ecosystem during the same period when massive sell-offs occurred.

Examining the data between June 1 and June 9, the Mean Coin Age for DOGE has experienced a 5% increase, rising from 54,317 to 57,219. This upward trend in Mean Coin Age during a period of price retracement serves as a promising signal, indicating growing confidence among long-term DOGE holders.

Remarkably, approximately 70% of the total circulating Dogecoin supply is currently held by steadfast long-term investors who have held their positions for more than a year. With such a significant portion of DOGE in the hands of committed holders, it follows logically that if they continue to hold onto their coins, the price of DOGE is likely to rebound in the near future.

...

Midsection of a bear (Frederick Bass/Getty Images)

Red arrows pointing down falling drop (Getty Images)

Cardano (ADA), along with numerous other major altcoins, experienced a significant downturn in recent days, causing considerable losses for investors. However, the downward trajectory of prices observed across the cryptocurrency market did not provide a reassuring signal for a potential reversal in the near future.

As panic and uncertainty gripped the crypto space, holders of Cardano and other altcoins found themselves questioning the stability and future prospects of these digital assets. 

What factors contributed to this market-wide decline, and what lies ahead for Cardano amidst this turbulent period?

Bearish Trend Emerges As Cardano (ADA) Price Plummets

A recent report shed light on the alarming bearish scenario for Cardano (ADA) on its price charts. 

Currently valued at $0.248073 according to CoinGecko, ADA has suffered a significant decline of 22.2% within the past 24 hours, further exacerbating the downward trend. Over the span of the last seven days, the cryptocurrency has experienced a staggering downturn, plummeting by 34.2%.

A recent report emphasized the bearish landscape depicted by Cardano (ADA) on its charts, specifically noting its current price, and the breach below the $0.348 mark.

This development set the stage for bears to take control of the market across higher timeframes. The report highlighted the significance of this downward movement, as it not only signaled a shift in momentum but also posed challenges for Cardanos price recovery.

Related Reading: ApeCoin Holders Suffer Financial Pain As 95% Endure Negative Returns

With the breach of the crucial support level, bears gained the upper hand in dictating market dynamics, particularly on longer timeframes. This bearish sentiment cast a shadow over Cardanos performance, making it increasingly difficult for the...

Custodia Bank founder Caitlin Long (Suzanne Cordeiro/Shutterstock/CoinDesk)

1.00 AUD = 0.00003 BTC
0.00010 BTC = 3.85 AUD
Converter

0.00010 BTC = 2.57 USD
1.00 USD = 0.00004 BTC
Converter

Bitcoin (BTC), the largest cryptocurrency in the market, made a fake attempt to breach the $27,500 barrier on Tuesday. Since then, it has been trading sideways, moving within a narrow channel. 

The 50-day Moving Average, which is the nearest resistance, is at $27,200. Meanwhile, the strongest support is at the 200-day MA, placed at $25,200. 

For Bitcoin to initiate a fully formed bull run in the market, it is essential to hold this support level, if BTC bulls expect another attempt to breach the $30,000 mark and propel the market in full force, the $25,200 support level is crucial, and it needs to be held to achieve this goal.

XRP And LTC Poised For Breakouts As Bitcoin Eyes $28,000

The lower timeframe picture for Bitcoin is straightforward, according to cryptocurrency analyst Michael Van de Poppe. He believes that for BTC to continue its upward trend, it needs to break through the $26,800 level. If that level is breached and flipped, Van de Poppe predicts that $27,500 is a likely next target, with the possibility of further breakouts on XRP and Litecoin (LTC).

Van de Poppes analysis is based on technical indicators and market trends. He highlights the significance of the $26,800 level as a key resistance level that must be overcome for BTC to gain momentum. The cryptocurrency has been trading in a narrow range, and a breakout could signal a shift in market sentiment.

Van de Poppes predictions align with the overall bullish sentiment in the cryptocurrency market, with many analysts expecting BTC to continue its upward trajectory. However, there are also concerns about potential price corrections and volatility, which could impact short-term market movements.

According to cryptocurrency analyst Rekt Capital, BTC is currently in a period of stability. If this stability continues, BTC could revisit the $27,600 level and potentially break out. However, BTC is still retesting the 200-week Moving Average despite downside volatility below it during the week.

Furthermore, BTC is currently trading below a series of Lower Highs, which is represented by the blue line in the chart. To move higher, BTC needs to invalidate this series of Lower Highs.

Bitcoin price is struggling after failing to make it above resistance last month. Combined with the recent pressure on the crypto market applied by the US SEC, things arent looking great for bulls.

However, the correction has stopped precisely at a key level that could indicate a throwback is in process. If confirmed, BTCUSD could trade above $40,000 per coin in the near future.

A Closer Look At The Technical Bottom Formation In Crypto

The study of technical analysis uses past price history to predict probabilities in future market movements. Certain patterns have been discovered time and time again, that produce reasonably replicable results. From the size or shape of the pattern, analysts can derive roughly how far the associated breakout should travel.

Bitcoin price action over the last year has formed what appears to be a technically flawless inverse head and shoulders pattern. The inverse head and shoulders is a bullish reversal pattern that appears at the bottom of a trend as it change direction. It consists of a left shoulder, head, a right shoulder, and a neckline. The head must be lower than each shoulder, and the neckline is of extra importance, because thats where the abundance of orders are associated.

What Exactly Is A Bitcoin Throwback, And Why Does It Matter?

A throwback occurs after a breakout of the neckline, when the market isnt convinced of the bullish move. The neckline holding is a sign to others that the pattern could confirm, and more traders pile in creating a breakout and strong move higher. When using the example as a comparison, the resulting breakout could reach as much as over $40,000...

SEC Chair Gary Gensler (Alex Wong/Getty Images)

A judge ruled in favor of the CFTC in its lawsuit against Ooki DAO. (Pixabay)

Over the past few weeks, the price of Tron (TRX) has experienced an upward movement. However, it has struggled to break through a crucial resistance level for a significant period of time.

In the last 24 hours, TRX saw a 1% increase, while on the weekly chart, it recorded a 3% gain. The bullish momentum has been maintained since surpassing the $0.68 price level. The technical outlook suggests a potential shift towards bullish influence.

Demand and accumulation indicators have shown improvement in the daily timeframe. While Tron has managed to resist the broader market sentiments affecting other altcoins, it remains vulnerable to fluctuations in the Bitcoin price.

To sustain its daily gains, it is crucial for TRX to surpass the immediate resistance level. Failure to do so may result in a reversal of its upward trend. The increase in the TRX market capitalization indicates that demand has started to revisit the market.

Tron Price Analysis: One-Day Chart

At the time of writing, Tron (TRX) was trading at $0.078. The altcoin faced overhead resistance at $0.079, and a successful move above this level would likely propel TRX above the $0.080 mark. However, if it is rejected at $0.079, the coin could experience a significant decline.

It is worth noting that TRX has previously faced rejection at the $0.083 level, which will serve as an important resistance. On the downside, the nearest support for Tron is located at $0.074.

If TRX fails to hold above this support level, it may drop further to $0.068. The trading volume of TRX in the last session was green, suggesting that buyers have started to establish control over the price.

Technical Analysis

Binance.US, in response to the aggressive tactics employed by the Securities and Exchange Commission (SEC) in its ideological campaign against the American digital asset industry, on its official Twitter handle has announced the suspension of USD deposits and impending fiat (USD) withdrawal pause.

The exchange cites the need to protect its customers and platform amidst the challenges created by the SECs actions. While transitioning to a crypto-only exchange temporarily, Binance.US  assures its customers of maintaining 1:1 reserves for all customer assets, with crypto-related services remaining fully operational.

Binance Prioritizing Customer Protection And Defending the Digital Asset Industry

Binance.USs proactive steps aim to prioritize customer interests and ensure the security of their assets. The suspension of USD deposits and notification regarding the impending pause in fiat withdrawal channels come as a defensive measure to address the challenges posed by the SECs aggressive tactics. The exchange encourages its customers to take appropriate action with their USD holdings in light of these developments.

Despite the temporary suspension of USD-related services, Binance.US emphasizes that trading, staking, deposits, and withdrawals in cryptocurrencies will continue to operate without interruption. The exchange assures its customers that any potential downtime in processing withdrawals may be attributed to elevated volumes and weekend bank closures.

Our priority is, and has always been, our customers. We are taking these proactive steps as wefor a timetransition to a crypto-only exchange, the exchange said. To be clear, we maintain 1:1 reserves for all customer assets. Any downtime in processing withdrawals may be the result of elevated volumes and weekend bank closures. Moreover, trading, staking, deposits and withdrawals in crypto remain fully operational.

While Binance.US expresses openness to a productive compromise that enables a thriving digital asset marketplace in America, it vows to vigorously defend itself, its customers, and the industry against what it considers meritless attacks by the SEC. The exchange remains committed to protecting its customers interests and ensuring the continued growth and development of the digital asset ecosystem.

In conclusion,  the recent developments surrounding Binance.US and its response to the Securities and Exchange Commission (SEC) demonstrate the exchanges unwavering commitment to its customers and the digital asset industry. Customers are urged to take appropriate action with their USD holdings in...

The Russian bitcoin fraud suspect Alexander Vinnik escorted to the Supreme Court to examine the request of U.S.A for extradition of the accused in U.S.A, Athens, Greece on Nov. 15, 2017.

Argentina's Bitcoin community is gearing up for a significant event this Saturday, June 10, as they plan to assemble a giant human Bitcoin symbol () at the Campo Argentino de Polo in the city of Buenos Aires. The gathering, organized by NGO Bitcoin Argentina, marks the organization's ten-year anniversary and aims to promote the advantages of Bitcoin and the blockchain ecosystem.

With the support of numerous companies and organizations in the sector, thousands of participants are expected to send a strong message about monetary and financial freedom. Jimena Vallone, the executive director of Bitcoin Argentina, expressed her excitement about the event, stating, "June 10 will be historic for the crypto community. For the first time, a giant human '' will be assembled with thousands of people to show that in the face of a world in crisis, unstable, the crypto industry is stronger than ever."

The event is open to the public and requires prior registration. Additionally, attendees will have the opportunity to support the organization by purchasing commemorative merchandise, such as orange umbrellas featuring the "" symbol. The highlight of the event will be an aerial photograph of the giant human "" taken by a drone.

The initiative has garnered significant interest within the community, with volunteers seemingly joining from far and wide to be part of the event. Vallone emphasized the unity and strength of the crypto ecosystem, stating, "The crypto ecosystem is more united and solid than ever, and on Saturday, we are going to give an account of that."

In case of inclement weather, the event will be rescheduled for June 24. The organizers have provided event information, including the location at Argentine Polo Field and the entrance details. Press accreditation is also available for media coverage of the event.

For those interested in attending or covering this monumental gathering, registration and press accreditation can be completed online. The untranslated provided information for time and location are as follows:

Informacin del evento:

Da y hora: Sbado 10 de junio a las 16 hs. En caso de lluvia, la actividad se pospone para el sbado 24 de junio.

Lugar: Campo Argentino de Polo, Av. del Libertador 4096, Ciudad Autnoma de Buenos Aires.

Ingreso: Portn 1, Av. del Libertador 4350.

The assembly of the giant human "" in Argentina represents a significant milestone in promoting the values of Bitcoin and decentralized technologies.

Gary Gensler, chair of the U.S. Securities and Exchange Commission (Evelyn Hockstein-Pool/Getty Images)

Binance Logo (Danny Nelson/CoinDesk)

On-chain data shows that Bitcoin short-term holders are depositing 0.82% of their supply to exchanges. Heres how these inflows compare with past crashes.

Bitcoin Short-Term Holder Inflows Have Been Elevated Recently

The BTC market can be divided into two broad investor groups, one of which is the short-term holder (STHs) cohort. The STHs are investors who have been holding onto their coins since less than 155 days ago.

Generally, the Bitcoin holders belonging to this group are the weakest hands in the market, as they may easily sell at the sight of any sharp volatility or uncertainty in the market.

The opposite cohort is called the long-term holder (LTH) group, and it naturally includes all participants that have been carrying their BTC in their wallets since more than 155 days ago.

These LTHs usually hold for large stretches of times, and they are the diamond hands in the sector who need to be pushed a lot before they start panic selling their coins.

Recently, the Bitcoin market has observed the emergence of FUD in the market, as a result of the US Securities and Exchange Commission (SEC) suing cryptocurrency exchanges Binance and Coinbase.

The market has acted volatile in both directions, but overall the price of the asset has gone down since the volatility has arrived. Obviously, in times like these, the STHs would be the first ones to break.

In a new tweet, the on-chain analytics firm Glassnode has looked at the exchange inflow data of the STHs, to see how they are coping with the current situation.

The below chart shows the trend in the Bitcoin exchange inflow for these investors over the past year:

As you can see in the above graph, the Bitcoin exchange inflow for the STHs has been climbing recently and has now hit relatively high levels. The exchange inflow here refers to a metric that tracks the amount of the asset that these investors have been depositing into the wallets of centralized exchanges.

One of the main reasons why investors transfer their coins to these platforms is for selling-related purposes, so the exchange inflow data for these holders can provide us with...

Julian Assange, the founder of WikiLeaks, is facing extradition from Britain to the United States after losing a challenge that would prevent that. Assange, who is wanted on 18 charges related to the release of confidential U.S. military records and diplomatic cables, will, however, renew his appeal next week according to a report by Reuters. The British High Court ruled that Assange had no legal grounds to challenge the extradition decision.

Previously, a British judge ruled against Assange's extradition, citing concerns about his mental health and the risk of suicide if held in a maximum security prison. However, the decision was overturned on appeal after the U.S. authorities provided assurances, including the possibility of transferring Assange to Australia to serve any sentence.

WikiLeaks gained prominence in 2010 for releasing classified files and diplomatic cables, marking one of the largest security breaches in U.S. military history. As a journalist, Assanges platform highlighted war crimes and incredible breaches of public trust by the U.S. military. His efforts to bring crimes and actions committed by the government to light have been met with furious retaliation despite the protections journalists should receive, even when reporting on sensitive information. To punish Assange for his work is to set the precedent that journalists who delve too deeply into government affairs will be made an example of.

Assange's case has drawn international attention and sparked debates regarding freedom of the press and the potential implications for whistleblowers. The renewed appeal next week will be a crucial moment in determining Assange's fate as he continues to fight against extradition to the United States.

The latest issue of Bitcoin Magazine Print is the Gatekeepers Issue, featuring Assange on the front. We lead the editorial of The Gatekeepers Issue with an open letter to Julian Assange titled Dear Julian, a download page for the cover story explains. In this piece, the author likens Assange's actions to those of ancient Greek Titan, Prometheus. To read the full story, you can input your email to receive a virtual copy of the open letter and to fully appreciate the Gatekeepers Issue, you can sign up for a subscription here. 

The Pepe the Frog meme has been appropriated by memecoin traders. (Pepecoin's Twitter account)

(Nikhilesh De/CoinDesk)

Former CFTC Chairman Heath Tarbert (CoinDesk archives)

(Shutterstock)

Mt. Gox Creditor Kolin Burges confronts Former Mt. Gox CEO Mark Karpeles (CoinDesk)

ROBINHOOD app on a smartphone (Shutterstock)

Strike CEO Jack Mallers speaking at the Bitcoin 2023 conference in Miami Beach, Florida. (Frederick Munawa)

(Geralt/Pixabay image modified by CoinDesk)

America is still a democracy. Technically, at least. (Andy Morffew, Flickr/CC)

The exterior of Crypto.com Arena (Rich Fury/Getty Images)

Louis Vuitton "Treasure Trunk" (Louis Vuitton)

Solana party in Lisbon (Danny Nelson/CoinDesk)

Vitalik Buterin shares a new blog post on Ethereum's roadmap to address scaling, privacy, and wallet security. (CoinDesk)

Bitcoin weekly chart (CoinDesk Indices)

The exchange urged clients to reclaim their dollars before June 13. (AhmadArdity/Pixabay)

Binance Logo (Danny Nelson/CoinDesk)

(geralt/Pixabay)

In a market heavily influenced by Bitcoin (BTC) and Ethereum (ETH), their slight price decline recently has been overshadowed by a more substantial fall in larger altcoins. Notably, Cardano (ADA), BNB (BNB), Polygon (MATIC), and Solana (SOL) have seen a more than 10% drop over the past week.

This downturn traces back to regulatory actions taken by the US Securities and Exchange Commission (SEC) against industry titans Binance and Coinbase.

Regulatory Pressure And The Crypto Market

This heightened market volatility follows charges laid by the SEC on Tuesday against Coinbase for facilitating the trading of crypto assets they labeled as unregistered securities.

The list of implicated assets includes FLOW, VGX, MATIC, and ADA. A similar charge was filed against Binance, where these assets, among others like BNB, BUSD, SOL, FIL, ATOM, SAND, MANA, ALGO, AXS, and COTI, were categorized as securities. Its interesting to note that the SEC did not include tokens with substantial trading volumes such as ETH, USDC, USDT, LTC, and BTC.

Charles Hoskinson, the founder of Cardano, responded to these charges by suggesting that the regulatory crackdown was a move to pave the way for a Central Bank Digital Currency (CBDC). In his view, the government aims to leverage the CBDC as a tool to assert control over peoples finances, facilitated by a selection of influential banks.

Hoskinson noted:

With respect to Binance, Im reading through the SEC complaint. Its over 130 pages, but seems like the next in a series of steps to implement chokepoint 2.0 in the United States. The end goal is a agenda based CBDC partnered with a handful of massive banks and end-to-end control over every aspect of your financial life.

The Market Impact On ADA, BNB, MATIC, And SOL

In the wake of this regulatory scrutiny, ADAs price has seen a market downtrend, falling by 15% over the past 7 days, with a further 2.8% loss in the past 24 hours alone....

For nearly 25 years, virtually as long as online payments have been possible, David Marcus has been trying to figure out how to perfect them.

In the mid-90s he founded a telecom company that offered internet access along with telephone service. In 2000, he launched Echovox, which he spun out into Zong in 2008 a mobile platform that let users pay for things online directly through their mobile phone bills. When this venture was acquired by PayPal in 2011, Marcus joined the digital payments giant, becoming its president the next year.

Hed read the Bitcoin white paper shortly after it was published, but didnt fall into the rabbit hole at first, he recalled in an interview with Bitcoin Magazine. Then, in 2012, Argentina ordered PayPal to stop all transactions that would send money out of the country as it grappled with currency inflation and a fiscal austerity effort, and the real value of this peer-to-peer electronic cash system started to resonate with him.

We had to (comply), we were a regulated entity, Marcus explained. The day that happened, bitcoin prices went up significantly and I was like, Whoa. Like, this is something where consumers in a place like Argentina are actually rushing into bitcoin as a way to move money that theyve earned its their money in a way that they saw fit. So, I felt that was a very eye-opening moment for me in terms of Bitcoin being an escape valve to certain behaviors that werent aligned with my views of self sovereignty, of money so that was kind of a turning point for me in 2013, where it really solidified my conviction.

Shortly afterward, in May 2013, he attended the Bitcoin 2013 conference in San Jose and, despite its relatively small community, he was intrigued by the breakthrough Bitcoin had made in how digital payments could be facilitated.

It was really a handful, like two handfuls of people basically, it was so incredibly early, he said. I was fascinated by this general idea that you move value in a completely self-sovereign way without any intermediaries whatsoever. And during that same time period, I remember sending and receiving bitcoins, and I was setting up wallets for friends to show them what was possible: Look, this is me sending you money and theres no one in between, right? And I was really fascinated by it.

To The Best Of Our Abilities

But Marcus was not yet ready to give up on the possibility of institutionalized yet open payments for the internet. In June 2014, he joined Meta (then Facebook) as its vice president of messaging products, developing the Facebook Messenger mobile app. Marcus released Messenger P2P Paymen...

This is an opinion editorial by Aleksandar Svetski, founder of The Bitcoin Times and The Amber App and author of The UnCommunist Manifesto, Authentic Intelligence and the upcoming Bushido Of Bitcoin.

The world is changing before our very eyes. Artificial intelligence (AI) is a paradigm-shifting technological breakthrough, but probably not for the reasons you might think or imagine.

Youve probably heard something along the lines of, Artificial general intelligence (AGI) is around the corner, or, Now that language is solved, the next step is conscious AI.

Well Im here to tell you that those concepts are both red herrings. They are either the naive delusions of technologists who believe God is in the circuits, or the deliberate incitement of fear and hysteria by more malevolent people with ulterior motives.

I do not think AGI is a threat or that we have an AI safety problem, or that were around the corner from some singularity with machines.

But

I do believe this technological paradigm shift poses a significant threat to humanity which is in fact, about the only thing I can somewhat agree on with the mainstream but for completely different reasons.

To learn what they are, lets first try to understand what's really happening here.

Introducing The Stochastic Parrot!

Technology is an amplifier. It makes the good better, and the bad worse.

Just as a hammer is technology that can be used to build a house or beat someone over the head, computers can be used to document ideas that change the world, or they can be used to operate central bank digital currencies (CDBCs) that enslave you into crazy, communist cat ladies working at the European Central Bank.

The same goes for AI. It is a tool. It is a technology. It is not a new lifeform, despite what the lonely nerds who are calling for progress to shut down so desperately want to believe.

What makes generative AI so interesting is not that it is sentient, but that its the first time in our history that we are speaking or communicating with something other than a human being, in a coherent fashion. The closest weve been to that before this point has been with parrots.

Yes: parrots!

You can train a parrot to kind of talk and talk back, and you can kind of understand it, but because we know its not really a human and doesnt really understand anything, were not so impressed.

But generative AI well, thats a different story. Weve been acquainted with it for six months now (in the mainstream) and we have no real idea how it works under the hood. We type some words, and it responds like that annoying, politically-correct, midwit nerd who you know from class or your average Netflix show.

In fact, youve probabl...

Progress in bringing crypto mining equipment back online has been slower than expected. (hut8.io)

BNB is currently displaying bearish signs that suggest a possible continuation of the ongoing downtrend, surpassing the expectations of many investors. 

Despite initial hopes for a swift recovery, the persistence of these bearish signs compels investors to explore the implications and brace for the possibility of a more prolonged downturn, provoking further scrutiny of the future of BNB and its impact on the wider cryptocurrency ecosystem.

But what exactly are these signals telling us about the future of BNB?

BNB Recent Downturn Coincides With Surge In Trading Volume

According to a recent tweet by Santiment, BNB has experienced a notable downturn of -15% since June 4. The decline in BNBs price coincided with a surge in its trading volume, reaching a level not seen in the past five weeks. 

#BinanceCoin has been hammered compared to the rest of the markets these past couple days. Now -15% since Sunday, social dominance has surged as the asset has become quite polarizing. $BNB trading volume is at 5-week high levels as well. https://t.co/E7sU59lkRe pic.twitter.com/FL0Er5vmQa

Santiment (@santimentfeed) June 7, 2023

This increase in trading activity suggests that market participants are actively engaging with BNB during its price decline, possibly seeking buying opportunities or adjusting their positions in response to the market movement.

The higher trading volume indicates heightened market interest and the potential for increased price volatility as investors closely monitor BNBs performance. 

This confluence of factors, with BNB experiencing a significant decrease in value alongside a surge in trading volume, presents a dynamic and evolving situation for traders and investors, warranting careful attention and analysis of the underlying market dynamics.

Amidst the volatility of the cryptocurrency market, BNBs price on CoinGecko stands at $260.59, reflecting a mere 0.8% dro...

Kamala Alcantara, host of the Women Who Web3 podcast, discussed the meaning of community at Consensus 2023. (Shutterstock/CoinDesk)

Waymaker LLP parter Brian Klein and Chamber of Digital Commerce CEO Perianne Boring discuss the future of DeFi regulation at Consensus 2023. (Shutterstock/CoinDesk)

<p>On-chain data shows that Tether (USDT) sharks and whales have been rapidly growing their holdings since Bitcoins volatility started.</p> <h2>Tether Sharks & Whales Grow Holdings As USDT Exchange Supply Plunges

According to data from the on-chain analytics firm Santiment, these large Tether holders are now carrying a total of $16 billion worth of the stablecoin. The relevant indicator here is the USDT Supply Distribution, which tells us how the Tether supply is distributed among the various holder groups in the market currently.</p> <p>Investors or addresses are divided into these holder groups based on the total number of coins that they are holding right now. In the context of the current discussion, the key <a href= "https://www.newsbtc.com/stablecoin/stablecoins-sharks-whales-load-bags-why-bullish-bitcoin/" rel="noopener" target="_blank">shark</a> and <a href= "https://www.newsbtc.com/stablecoin/stablecoin-market-cap-decreases-whales-remain-unfazed/" rel="noopener" target="_blank">whale</a> cohorts are of interest, the combined coin range of which can be defined as $100,000-$10 million.</p> <p>Naturally, this holder group would include all addresses on the blockchain that are carrying at least $100,000 and at most $10 million worth of USDT in their balances.</p> <p>Now, here is a chart that shows the trend in the Tether Supply Distribution specifically for the sharks and whales over the last six months:</p> <p><img alt="Tether Sharks & Whales" class= "alignnone aligncenter" height="1819" src= "https://pbs.twimg.com/media/FyIOMj9aUAA8fdp?format=jpg&name=4096x4096" width="2882"></p> <p>As displayed in the above graph, the Tether addresses holding between $100,000-$10 million have seen their combined supply shoot up recently. Interestingly, this rise has coincided with Bitcoin observing some high volatility due to Binance being <a href= "https://www.newsbtc.com/news/cardano/cardano-founder-unveils-sec-motivation-for-suing-binance/" rel="noopener" target="_blank">sued</a> by the SEC over alleged fraud.</p> <p>Generally, investors use stablecoins like USDT whenever they want to exit volatile coins like BTC. Thus, investors exchanging their assets for stables can be a sign of selling.</p> <p>Its possible that the latest rise in the supply of sharks and whales has come because of these humongous holders ditching cryptocurrencies like Bitcoin in these uncertain times.</p> <p>However, usually, whenever holders opt for stablecoins instead of exiting through fiat or other means, it means that they are possibly looking to eventually return back into the volatile markets.</p> <p>When such investors finally feel that the prices are right to step back in...

The latest price moves in bitcoin (BTC) and crypto markets in context for June 8, 2023. First Mover is CoinDesks daily newsletter that contextualizes the latest actions in the crypto markets.

This is an opinion editorial by Win Ko Ko Aung, a McCourt Scholar for Georgetown Universitys Data Science for Public Policy program and a survivor of Myanmars 2021 military coup.

As the 2024 U.S. Presidential election campaign kicked off, one of the candidates, Robert F. Kennedy Jr., took to Twitter to express his support for Bitcoin. In a tweet, he stated that Bitcoin has been a lifesaver for peoples movements around the world, particularly in Burma.

Myanmar, also known as Burma, is a country located in Southeast Asia, bordering China, India, Thailand, Laos and Bangladesh. The country has stunning natural beauty, including untouched beaches, vast forests and a rich culture of Buddhism. Despite these attractions, Myanmar has been tortured by the world's longest civil war, which has been ongoing for more than 70 years, since it achieved independence in 1945. The country has also experienced multiple military coups throughout its history, leading to political instability and economic turmoil. Additionally, the government has a history of demonetizing the local currency, and there have been frequent banking crises.

One of Myanmar's most notable instances of demonetization occurred in 1987, leading to the historic "8888 Uprising." On September 5, 1987, the military dictator Ne Win announced the demonetization of Myanmar's 25, 35, and 75 kyat notes without providing prior notice or replacing them for citizens. At that time, these notes accounted for 80% of the circulation in the economy. Previous demonetization efforts in 1964 and 1985 had compensated noteholders, making this move in 1987 especially unexpected and devastating for the people of Myanmar. The choice to demonetize these particular, odd denominations sparked significant speculation, as they were believed to hold special status. It is widely held that Ne Win, who was highly superstitious, considered these numbers to be propitious both for the country and himself on a personal level.

Myanmar's transformation era commenced with the visit of U.S. President Barack Obama to the co......

ApeCoin (APE), created by Yuga Labs, once soared to great heights, capturing the attention of investors and enthusiasts alike. However, recent developments have cast a dark cloud over the once-promising digital asset.

With an astonishing 95% of ApeCoin holders finding themselves deep in the red, the future of this innovative cryptocurrency hangs in the balance.

Negative sentiment surrounding ApeCoin has become a prominent concern for its community. Once buoyed by optimism and excitement, investors now face frustration as their holdings plummet in value. 

This loss of confidence not only undermines ApeCoins credibility but also raises questions about its long-term sustainability.

Diminishing Network Growth, Trading Velocity Compound APEs Challenges

Founder of NotLarvaLabs, Pauly, has revealed a troubling statistic: an alarming 95% of ApeCoin holders are currently grappling with financial losses, painting a bleak picture for the once-promising cryptocurrency. 

Looks like @apecoin is already right around its all time low price.

Over 95% of the holders are already at a loss.

And the @yugalabs team, insiders and launch contributors are paying themselves 10s of millions of dollars a month in $ape.

See here:https://t.co/toavf11b8v

PAULY (@Pauly0x) June 7, 2023

ApeCoins price decline can be primarily attributed to the diminishing growth of its network, which has witnessed a noticeable decrease in interest from new addresses over the past three months. This decline in interest reflects a diminishing enthusiasm for APE among potential investors.

In addition to the decline in network growth, ApeCoins trading velocity, which measures the frequency of transactions, has also experienced a significant drop during this period.

This decline in trading activity further exacerbates the challenges faced by ApeCoin, indicating a lack of liquidity and reduced participation in the market.

...

Matthew Long, director of payments and digital assets at the FCA. (FCA)