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Top 10 Cryptocurrency Gainers: RNDR, STX, SNX, FIL, And MKR

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Top 10 Cryptocurrency Gainers: RNDR, STX, SNX, FIL, And MKR

These top 10 Cryptocurrency Gainers in the year: RNDR, STX, SNX, FIL, and MKR 2023

The cryptocurrency market is up 7.5% over the past 24 hours, hitting the overall cap of $1.05 trillion after a tough weekend. The market value fell to $966 billion on Saturday following news of the Silicon Valley Bank collapse.

Similar bankruptcies of signatories (not to mention Silvergate Bank) may make it harder for cryptocurrency companies to bank now, but intervention by US regulators has helped stabilize the market. and was able to recover from the loss.

Also, some coins earn more than others. In this article, we have compiled the top 10 cryptocurrency earners of the day:

1. Synthetix Network (SNX)

SNX surged 30% in the last 24 hours to reach $2.83. However, it remains down 8% over the past week, despite rising 18% over the past 30 days. The SNX indicator is showing very strong momentum, suggesting that today’s rally could continue for some time.

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Apart from today’s overall market recovery, SNX is driven by the continued launch of Synthetix V3, which promises to make the decentralized asset insurance protocol more efficient and interoperable.

2. Conflux (CFX)

CFX is also up 30% over the last 24 hours but remains down 5% over the past 7 days.

However, at $0.189695, the coin has surged 233% over the past month, making it one of the best-performing coins of the period.

The indicator suggests that the recent rally can continue, with the RSI starting to rise again after falling for the past few days.

Similarly, the 30-day moving average shows no signs of stopping above 200 days, although there could be a correction sooner or later.

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3. Maker (MKR)

MKR is at $876.92, up 26% over the past 24 hours, but is still down 7.5% over the past 7 days following last week’s plunge.

MKR is also up 13% in two weeks and 23% in the last 30 days, and the coin is up 70% since early 2023.

That indicator suggests there is still room for an upside as the RSI rose to almost 60 from 40 a few days ago.

4. Optimism (OP)

OP is up 23% in the last 24 hours and the current price of $2.31 is down 5% in a week.

The OP is down 23% over the past two weeks and 4% over the last 30 days, even though the coin is up 151% year-to-date.

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The OP’s success this year is large because Coin Base last month announced Base, its own Layer 2 network using Optimism’s development stack.

5. Love Hate Inu

Love Hate Inu is a meme token that uses blockchain technology to enable a secure and transparent voting system.

It delivers real value by allowing users to vote on issues that matter, providing a platform for community engagement and decision-making.

6. Fight Out (FGHT)

Fight Out revolutionizes the Metaverse with a unique gaming platform that encourages users to compete and win in different competitive modes.

The key to success on this platform is the user’s avatar attributes. This can be improved through actual training with the Fight Out app.

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7. Filecoin (FIL)

The FIL at $5.80 is up 18% over the past 24 hours, after falling 5% over the past week. However, the FIL is still up 19% in the last 30 days and the coin’s price is still not above the 30-day moving average, so there is still plenty of room for the next surge before it becomes overbought.

8. Lido DAO (LDO)

LDO is up 17.5% over the past 24 hours, while the $2.48 price is up 160% year-to-date. The RSI of LDO, the native token of the staking platform Lido Finance, is starting to recover after being in an oversold position.

9. The Graph (GRT)

At $0.132583, GRT is up 17% over the past 24 hours but is down 6% over the week and 20% over the past month.

10. ImmutableX (IMX)

At $0.912447, IMX is up 15% in a day, down 13% last week, and down 5% over the last 30 days.

The post Top 10 Cryptocurrency Gainers: RNDR, STX, SNX, FIL, and MKR appeared first on Analytics Insight.

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Explosive Allegations: Hindenburg Research Accuses Jack Dorsey’s Block of Enabling Fraud Through Cash App’s Illicit Activities

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Explosive Allegations: Hindenburg Research Accuses Jack Dorsey’s Block of Enabling Fraud Through Cash App’s Illicit Activities

Yet again Hindenburg Research’s new revelation has shocked the cryptocurrency market. According to a report published on Thursday by the investment research firm, Jack Dorsey’s digital payments startup Block has engaged in a massive fraud. After the Adani fiasco, it has now published a report alleging that Block Inc. has knowingly assisted fraud against customers and governments. 

Block, formerly known as Square, is a ~$44 billion market cap company that claims to have developed a “frictionless” and “magical” financial technology with a mission to empower the “unbanked” and the “underbanked”. $SQ

(2/n) pic.twitter.com/NmL0f2MzgW

— Hindenburg Research (@HindenburgRes) March 23, 2023

Block was established in 2009 by Jim McKelvey and Dorsey. From November 2015, it has been traded as a public corporation on the New York Stock Exchange (NYSE) under the ticker code SQ.

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Hindenburg, in its blog said, “Our 2-year investigation has concluded that Block has systematically taken advantage of the demographics it claims to be helping. The “magic” behind Block’s business has not been disruptive innovation, but rather the company’s willingness to facilitate fraud against consumers and the government, avoid regulation, dress up predatory loans and fees as revolutionary technology, and mislead investors with inflated metrics.”

The share price of Block decreased 20% after the report’s release, reaching $57.85 in premarket trading. Market analysts predict a further loss of 40–50% over the next few days if Block is unable to make any convincing defenses against the allegations.  It will be interesting to see how Block shares respond to this new report from Hindenburg, especially in light of how severely Adani shares were impacted following the Hindenburg report.

Allegations against Cash App

Hindenburg Research claims that Cash App, which was co-founded by Dorsey, rejected warnings from the Secret Service, the US Department of Labor, and many state agencies, as well as internal employee concerns.

The report asserted that the Cash app is often used for illegal purposes by citing the nonprofit Polaris Project. These allegations have been refuted by Cash App, which also said that it rejects any payments connected to illegal activity.

“There are dozens of ‘Elon Musk’ and ‘Donald Trump’ fake accounts as well. A search for Cash App account holders with the name “Jack Dorsey” turns up numerous accounts, including a number with “cash tags” that could be used to mislead and scam other users,” the report said.

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Coinbase Vs. SEC: Who Shall Prevail In The Battle For Crypto Clarity? 

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Coinbase Vs. SEC: Who Shall Prevail In The Battle For Crypto Clarity? 

Coinbase CEO Brian Armstrong’s recent comments comparing the Securities and Exchange Commission (SEC) to “soccer refs” in a game of pickleball have caused quite a stir in the crypto community. The remarks come after the SEC issued a Wells Notice to Coinbase, which usually precedes an enforcement action.

Imagine you’ve got both football and soccer refs on the field, but we’re actually playing pickleball (fastest growing new sport in America). The refs can’t really agree on the rules of this new game, and one of them decides to change a call they made back in April 2021.

— Brian Armstrong (@brian_armstrong) March 22, 2023

Lack of regulatory clarity to blame 

Armstrong has been vocal about the lack of clarity from US regulators when it comes to crypto regulation. He has argued that the SEC has not been fair, reasonable, or even demonstrated a seriousness of purpose in its engagement with digital assets.

This sentiment is reflected in a recent tweet by Coinbase’s Chief Legal Officer, Paul Grewal, who claimed that the SEC provided “no clear rule book” on crypto regulations and that efforts to engage with the SEC are met with silence or enforcement actions

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The truth is that today there is no clear rule book from the SEC on crypto, and efforts to engage with the SEC are met with silence or enforcement actions. They have not followed a good faith rulemaking process with industry, as required under the APA. 10/15

— paulgrewal.eth (@iampaulgrewal) March 22, 2023

Crypto community rallies behind Coinbase

The crypto community has widely condemned the SEC’s recent actions against Coinbase, with many agreeing that the regulator has reversed its earlier position regarding the exchange. There is a growing sense that the SEC is failing to provide the clarity and consistency that the industry needs to thrive. Many have thrown their support behind Coinbase, with some suggesting that the firm is fighting on behalf of the entire US crypto industry.

They argue that an unclear regulatory environment is driving activity offshore and that greater clarity is needed to ensure that the U.S. remains competitive in the rapidly growing crypto market.

Netizens Supports Coinbase

According to Jake Chervinsky, Chief Policy officer of the Blockchain Association, Coinbase has put in a lot of effort to obtain regulatory clarity from the SEC. However, the SEC has given Coinbase a Wells notice, which is disappointing but expected from an agency that primarily regulates through enforcement.

Fortunately, Coinbase is prepared to fight back and has a strong legal position. It’s important to remember that the SEC only makes allegations and doesn’t create laws. Ultimately, the courts will determine if the SEC’s allegations are accurate, and in this case, the SEC may be incorrect.

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Coinbase has spent an extraordinary amount of time and resources working in good faith to seek regulatory clarity from the SEC.

The idea that they’d be rewarded with nothing but a Wells notice is sad, but not surprising from an agency best known for regulating by enforcement. https://t.co/BZ4a9AefEF

— Jake Chervinsky (@jchervinsky) March 22, 2023

Tony Edward, The host of Thinking Crypto Podcast, alleges that the regulator, Gary Gensler, is corrupt and had meetings with Sam Bankman-Fried and FTX officials multiple times, with the intention of creating a monopoly despite the ongoing fraud. He also claims that despite the SEC approving Coinbase’s public listing, they are now attacking the company.

Remember folks, corrupt regulator @GaryGensler had Sam Bankman-Fried and FTX officials in his office multiple times and was about to make them a monopoly despite the massive fraud that was happening.

The SEC green lighted Coinbase going public and is now attacking them.…

— Tony Edward (Thinking Crypto Podcast) (@ThinkingCrypto1) March 23, 2023

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Justin Sun was also charged with fraud and selling unregistered securities by SEC. However, in a recent tweet, he expressed confidence that the SEC’s legal complaint against his company lacks merit. He revealed that despite the legal hurdle, his company is still focused on building a decentralized financial system.

Furthermore, he acknowledges that the digital assets’ regulatory framework is still in its early stages and needs development. His company is willing to work with governments and regulatory bodies to establish clear guidelines for the crypto industry. Interestingly, Dominica recently adopted TRX and BTT as legal tender, indicating the growing significance of cryptocurrency.

The SEC’s civil complaint earlier today is just the latest example of actions it has taken against well known players in the blockchain and crypto space. We believe the complaint lacks merit, and in the meantime will continue building the most decentralized financial system.

— H.E. Justin Sun 孙宇晨 (@justinsuntron) March 23, 2023

With the SEC breathing down their necks, Coinbase is prepared to go all out in their legal battle. The crypto community has rallied behind them, with many pointing out the regulatory inconsistencies hurting the US crypto market.

Despite this lack of clarity, Coinbase remains determined to see the industry thrive and is open to collaborating with regulators to create clear guidelines. The stakes are high, but Coinbase is ready to take on the challenge and defend its position.

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Elena R

Elena is an expert in technical analysis and risk management in cryptocurrency market. She has 10+year experience in writing – accordingly she is avid journalists with a passion towards researching new insights coming into crypto erena.

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Hindenburg Research Hints at Another ‘Big and Huge’ Report After the Adani Fiasco

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Hindenburg Research Hints at Another ‘Big and Huge’ Report After the Adani Fiasco

The US-based short seller Hindenburg Research, which had previously published a report flagging the Adani group for manipulating the stock market and using unlawful offshore tax havens, announced on Thursday that it will shortly publish new research. The new report is expected to be “another huge one,” and the short-seller withheld any other information.

Taking to Twitter, they wrote, “New report soon—another big one.” As Hindenburg hinted in a new major report, banking stocks are already under pressure from the US financial crisis and the 25 basis point Fed rate hike. 

New report soon—another big one.

— Hindenburg Research (@HindenburgRes) March 22, 2023

A few weeks ago, in a report dated January 24, the US short-seller accused the Adani group of “brazen stock manipulation and accounting fraud” and of employing several offshore shell firms to manipulate stock prices. The Gautam Adani-led group was the target of various other accusations in the report.

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The company is said to have “substantial debt,” which involves pledging shares as collateral for loans, according to the report, and it added that the group’s auditor “hardly seems capable of complex audit work.”

The Adani group replied to the allegations in 413 pages and a part of their reply read, “ The document is a malicious combination of selective misinformation and concealed facts relating to baseless and discredited allegations to drive an ulterior motive. This is rife with conflict of interest and intended only to create a false market in securities to enable Hindenburg, an admitted short seller, to book massive financial gain through wrongful means at the cost of countless investors.”

This update comes at a time when the bank runs, regulators backlash and the fed’s interest hikes have gripped the economy. The crypto-focused bank, Silvergate Capital first announced insolvency, and then Silicon Valley Bank began scaring investors and account holders. However, then the regulators then took control and the rest is history. 

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