Tether (USDT), one of the world’s leading stablecoins, has announced impressive financial results for the third quarter of 2024, reporting $2.4 billion in net profits. These profits are primarily derived from the company’s substantial holdings in U.S. Treasuries and gold, showcasing Tether’s robust asset management strategy and its significant role in the cryptocurrency ecosystem.
Bitcoin World
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Source: Bitcoin World
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Ethereum Price Tumbles: Will It Find a Way Back Up?
Ethereum price started a fresh decline from the $2,720 resistance. ETH is back below $2,550 and might struggle to start a fresh increase in the short term. Ethereum started a fresh decline from the $2,720 resistance zone. The price is trading below $2,550 and the 100-hourly Simple Moving Average. There was a break below a key bullish trend line with support at $2,560 on the hourly chart of ETH/USD (data feed via Kraken). The pair could extend losses if it fails to stay above the $2,450 support zone. Ethereum Price Dives Below $2,550 Ethereum price struggled to stay above $2,650 and started a fresh decline like Bitcoin. ETH declined heavily below the $2,620 and $2,600 levels. There was a break below a key bullish trend line with support at $2,560 on the hourly chart of ETH/USD. The pair declined below the 50% Fib retracement level of the upward wave from the $2,488 swing low to the $2,719 high. The bears even pushed the price below $2,550. Ethereum price is now trading below $2,550 and the 100-hourly Simple Moving Average. It is now approaching the $2,460 support zone and the 61.8% Fib retracement level of the upward wave from the $2,488 swing low to the $2,719 high. On the upside, the price seems to be facing hurdles near the $2,550 level. The first major resistance is near the $2,580 level. The main resistance is now forming near $2,610. A clear move above the $2,610 resistance might send the price toward the $2,650 resistance. An upside break above the $2,650 resistance might call for more gains in the coming sessions. In the stated case, Ether could rise toward the $2.720 resistance zone. More Downsides In ETH? If Ethereum fails to clear the $2,550 resistance, it could continue to move down. Initial support on the downside is near the $2,480 level. The first major support sits near the $2,450 zone. A clear move below the $2,450 support might push the price toward $2,380. Any more losses might send the price toward the $2,320 support level in the near term. The next key support sits at $2,250. Technical Indicators Hourly MACD – The MACD for ETH/USD is gaining momentum in the bearish zone. Hourly RSI – The RSI for ETH/USD is now below the 50 zone. Major Support Level – $2,450 Major Resistance Level – $2,550 Bitcoin World
Crypto Firms Disproportionately Targeted Through Deepfake Fraud
Crypto Firms Disproportionately Targeted Through Deepfake Fraud In a concerning development for the cryptocurrency sector, a recent report by Regula, a leading forensic services company, has highlighted that crypto firms are among the most affected by deepfake fraud this year. As reported by CryptoSlate, the study examined seven key industries—financial services, cryptocurrency, technology, telecommunications, aviation, Bitcoin World