Riccardo Paolo Spagni, the lead Monero maintainer who was recently arrested on charges related to fraud, has been denied bail. A U.S. court stated that Spagni, who goes under the nickname Fluffypony, had not proven that he wasn’t a flight risk. According to the judge, Spagni had previously flown to the United States when he was supposed to appear in court in South Africa. The judge ruled that he should remain in custody until his extradition hearing takes place. What did Riccardo… Source link

Source: AdobeStock / alswart The popular privacy-focused cryptocurrency monero (XMR) stood out as one of the better performers in what is a vastly red crypto market today, it itself turning red as well. This correction follows a rise of over 17% in the past week, and this strong price performance comes as the implementation of a solution for atomic swaps between bitcoin and monero was announced just five days ago. At 9:48 UTC on Wednesday morning, monero was down by 5.1%, trading at USD… Source link

Ethereum Ethereum fell by 4.55% on Tuesday. Reversing a 2.52% gain from Monday, Ethereum ended the day at $3,172.52. A mixed start to the day saw Ethereum rise to a mid-morning intraday high $3,360.00 before hitting reverse. Falling short of the 23.6% FIB of $3,369 and the first major resistance level at $3,390, Ethereum slid to a late afternoon intraday low $3,133.45. Ethereum fell through the first major support level at $3,245 and the second major support level at $3,166. Finding late support,… Source link

Litecoin price dropped 9% over the past 24 hours as crypto markets tumbled. Although the bulls are trying to find support, a retest of the $200 psychological level seems likely. In some cases, LTC might form a triple bottom at $160.86 before triggering an upswing to $225. Litecoin price experienced a sell-off as it set up a swing high on August 23. While this downswing sliced through a support level, it is showing signs of a rebound from its current position. Litecoin… Source link

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Bitcoin crested above $50,000 on Monday, benefiting from simultaneous supply chain shortages and a crackdown from Chinese regulators – putting bitcoin mining on par with profits near the coin’s April all-time-high.  Now, building infrastructure for the energy-intensive business poses the greatest challenge for companies and individuals hoping to reap big money. That means finding cheap and reliable energy sources, striking deals and building out mining facilities. “Throughout the summer,… Source link

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Cryptocurrencies were mostly lower on Tuesday after a period of extreme bullish sentiment has started to wane. After breaking above $50,000 earlier this week for the first time in three months, bitcoin slipped below $48,000 at press time and is down about 3% over the past 24 hours. Technical charts suggest support is nearby, which could stabilize the pullback and maintain the breakout move above $45,000.  Some analysts expressed caution after bitcoin failed to keep pushing higher above the… Source link

Ether (ETH) price rallied 32% leading up to August 23, and despite testing the $3,000 support multiple times, the level has held firmly. Meanwhile, Bitcoin (BTC) could not sustain the $50,000 mark, at least in the short-term. According to Cointelegraph, pro traders are not yet inclined to add bullish positions according to derivatives metrics. Surprisingly, the opposite situation emerges when looking at the sentiment of Ether traders who currently show a reasonable degree of confidence in the… Source link

Hedge funds and other large traders continued to pile into bearish bets on bitcoin last week even as the cryptocurrency extended price gains.  Leveraged funds ­ – typically hedge funds and various types of money managers – held 16,000 short positions in bitcoin futures listed on the Chicago Mercantile Exchange (CME) in the week ended Aug. 17, according to data released Friday by the U.S. Commodity Futures Trading Commission, as tracked by data analytics firm Skew. Each CME contract… Source link