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The two largest banks in the US are declaring a loss of $4.5 billion in debts. JPMorgan Chase reported net charge-offs of $2 billion in Q1 2024, those debts being unrecoverable. Bank of America reported $1.5 billion in net charge-offs. This is an increase from $807 million a year prior. As the BRICS bloc pushes for de-dollarization this year, they’ll likely be elated with this news. “ Bank of America is seeing ‘cracks’ in the finances of borrowers with below-prime credit scores whose household spending is affected by higher interest rates and inflation, Chief Financial Officer Alastair Borthwick told analysts on an earnings call. The losses come from credit card debt that will likely never be paid, according to Bank of America . Furthermore, BofA and JPMorgan aren’t the only major banks suffering from these unrecoverable debts. Net charge-offs are also on the rise at Citigroup and Wells Fargo. According to the Federal Reserve, most banks are now tightening lending standa...

The X (formerly Twitter) account of blockchain analysis firm Dune Analytics was hacked last night, posting a fake airdrop scam to its 145,000 followers. Dune claimed the account was compromised for roughly 90 minutes during which time it posted a fake airdrop that was live for just a quarter of an hour.   The company’s CEO Fredrik Haga said, “Unknown if the attacker can post or if the account is currently frozen. Be careful, don’t send any money or secrets to @duneanalytics.”  This account was compromised for the last ~90 minutes. A fake post about a Dune Airdrop was live for about 15 minutes. Reminder that there is no Dune airdrop or token currently live or planned. The Dune team now has control over the account again. — Dune (@DuneAnalytics) April 29, 2024 Dune Analytics then appealed to X support for help and the case was reportedly ‘ escalated internally ‘ within the hour.  The Dune account has since been recovered from the hackers. The co...

Ethereum price struggled to recover above $3,350 and corrected gains. ETH is consolidating near $3,200 and facing many hurdles. Ethereum started another decline and tested the $3,120 zone. The price is trading below $3,220 and the 100-hourly Simple Moving Average. There is a short-term rising channel forming with support at $3,170 on the hourly chart of ETH/USD (data feed via Kraken). The pair could continue to move down if it trades below the $3,170 support. Ethereum Price Faces Uphill Task Ethereum price failed to settle above the $3,250 level and started another decline, like Bitcoin. ETH traded below the $3,200 level and even spiked below $3,120. A low was formed at $3,113 and the price is now consolidating. There was a minor increase above the $3,200 level. The price broke the 23.6% Fib retracement level of the recent decline from the $3,355 swing high to the $3,113 low. However, the bears were active near the $3,240 and $3,250 levels. ...

The Solana price has plunged 6% in the past 24 hours to trade for $134.34 as of 04:50 a.m. EST on trading volume that fell 10%. It comes amid a broader market dump, led by the king of crypto, BTC, which is down 2%. The bleed is seen across the sector with most altcoins posting up to 5% in losses on the day. But there is still anticipation for an altcoin season, marked by capital rotation from the BTC market. In the medium to short-term aftermath of the BTC halving, altcoins typically rally following the bullish sentiment that the landmark event inspires in the market. For the Bitcoin price, however, a rally is expected as long as 518 days after the halving. #BTC In the 2015-2017 cycle, Bitcoin peaked 518 days after the Halving In the 2019-2021 cycle, Bitcoin peaked 546 days after the Halving If history repeats and the next Bull Market peak occurs 518-546 days after the Halving… That would mean Bitcoin could peak in this cycle… pic.twitter.com/3prPFXAwky — R...

The dYdX Chain, together with its native Layer 1 token DYDX, was released on October 26, 2023. While the original ethDYDX token s continue to be in circulation, the migration of 75.2% of its total volume to the dYdX Chain signals a swift transition to the new ecosystem.  Namely, the dYdX Foundation launched ethDYDX (then called DYDX) on August 3, 2021, as a governance-only token for the dYdX Layer 2 protocol on Ethereum (ETH) — dYdX v3.  Picks for you Solana price prediction as whales move $3 billion worth of SOL 14 hours ago $15 billion-revenue payment provider reintroduces cryptocurrencies 16 hours ago Solana trader turns $49,000 into $2 million in 5 hours 18 hours ago 2 cryptocurrencies to reach $100 billion market cap in May 18 hours ago EthDYDX allowed the community to govern aspects of dYdX v3 and fostered an ecosystem around governance, rewards, and staking.  The community voted in favor of adopting the new DYDX as the La...

The bullish predictions for the XRP price are back, even with the bulls struggling to push the crypto on a price surge. EGRAG, a cryptocurrency expert, has made one of these positive forecasts, which is that there will be a price spike of tremendous magnitude. According to the analyst’s recent post on social media, XRP could reach the $4 price level over the long term.  Crypto Analyst Predicts 700% Bullish XRP Price Action XRP has experienced a small decline in value over the past few days as the entire crypto market consolidates in price action. XRP’s price movement this year has largely left many of its fervent enthusiasts feeling disappointed, particularly considering the fact that it is yet to reach the $1 mark as predicted by many analysts.  Related Reading: Brace For Price Impact: Dogecoin Whales Move Massive 456 Million DOGE To Exchanges Data from Coinmarketcap shows XRP now finds itself bouncing around at the $0.51 price mark aft...

Amidst market shifts, top Bitcoin ETFs show declining interest. BlackRock’s IBIT, once dominant, with 71 days of inflows totalling $17.24 billion since January 11, now halts investments. Fidelity’s FBTC, a key rival, sees its first outflow of $22.6 million on Thursday, reducing assets to $9.9 billion. In response to a cooling crypto market, recent Bitcoin ETF flows have come to a pause, indicating a shift from the initial excitement. Despite Bitcoin’s 12% decline since March, only one spot Bitcoin ETF reports inflows on Thursday.  This aligns with disappointing inflation data, impacting investor sentiment and curbing the appetite for risky assets. Yet, these ETFs gather over $54 billion in assets in three months, drawing global mainstream investors. As investors reassess their strategies, top crypto gainers like Golem, Aelf, Ethereum Name Service, and Ethereum Classic present potential market opportunities. Biggest Crypto Gainers Today – Top List Prepa...

VeChain (VET) is currently red across the board. The asset’s price has fallen 3.4% in the weekly charts, 17.1% in the 14-day charts, and 11.2% over the previous month. However, VET has maintained some gains in the yearly charts, rallying nearly 75% since April 2023. Source: CoinGecko Also Read: VeChain : VET Makes Major Announcement On New Product Launch VET’s latest dip could be due to larger market factors. Bitcoin (BTC) fell below $65,000 once again. Moreover, macroeconomic conditions and geopolitical tensions may have also played a hand. Inflation in the US remains above the Federal Reserve’s 2% target, fading traders’ expectations of an interest rate cut. Moreover, Iran’s attack on Israel has spooked market participants, expecting a market-wide correction. However, despite the recent correction, VeChain (VET) may witness a price surge soon. Analyst predicts VeChain (VET) to hit $0.09 Source – Facts.net According to crypto an...

Bitcoin price failed to recover above the $65,500 resistance. BTC is again moving lower and there is a risk of more downsides below $63,000. Bitcoin started another decline after it failed to surpass the $65,500 resistance zone. The price is trading below $64,500 and the 100 hourly Simple moving average. There is a connecting bearish trend line forming with resistance at $64,500 on the hourly chart of the BTC/USD pair (data feed from Kraken). The pair could accelerate lower if there is a daily close below the $63,000 support zone. Bitcoin Price Faces Hurdles Bitcoin price started a recovery wave from the $62,750 support zone. BTC was able to climb above the $64,000 and $64,500 resistance levels. However, the price failed to clear the $65,500 resistance zone. A high was formed at $65,300 and the price started another decline. There was a move below the $64,500 level. The price tested the 50% Fib retracement level of the recovery wave from the $62,74...

Shiba Inu (SHIB) is down by nearly 71% from its all-time high of $0.00008616, which it attained in October 2021. Moreover, the asset has faced a significant correction in the last 24 hours. Despite being up 14.3% in the weekly chart, SHIB’s price has fallen 7.6% in the daily chart, 9.3% in the 14-day chart, and 13.8% over the previous month. Source: CoinGecko However, despite the recent plummet, Shiba Inu (SHIB) may soon hit a new all-time high. According to CoinCodex, SHIB could surge to $0.00008813 on May 23, 2024. Reaching $0.00008813 from current levels would translate to a growth of about 251%. Source: CoinCodex Also Read: Shiba Inu Q2 2024 Outlook: Maximum Gains or Market Volatility? Changelly also paints a bullish picture for SHIB over the next few weeks. The platform anticipates SHIB to hit $0.00008739 on May 22, 2024. Can Shiba Inu (SHIB) delete a zero this cycle? Source: Twitter If SHIB can maintain its price at $0.00008, there is a possibility that...

The EOS price has soared 8% in the past 24 hours to trade for $0.8857 as of 02:08 a.m. EST. Trading volume has also exploded nearly 300% coming on the back of the EOS network’s new tokenomics. CEO @BigBeardSamurai proposed on X a new tokenomics model that burns 80% of the future total supply. – Burn 80% of future total supply 🔥 – Turn off inflation – Cap supply at 2.1B tokens – 4 year halving cycles – Mint ~950M $EOS – Staking rewards w/ lockups – $RAM market support I'll be meeting with the BPs this evening to propose the new tokenomic model for #EOS 🚀 View… pic.twitter.com/jcFntvwCBy — Yves La Rose (@BigBeardSamurai) April 24, 2024 The proposal is intended to solve key problems on the EOS network’s tokenomics. First, that a large number of inactive users’ EOS is dormant in centralized exchanges (CEX), while truly active users on the blockchain and new users have not received effective ince...