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Shiba Inu Enters CDSA Alliance for Content Innovation

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Shiba Inu has joined the Content Delivery and Security Association [CDSA] to enhance its reach and explore opportunities for blockchain-enabled content distribution and business capabilities. CDSA’s notable members include major tech and entertainment players such as Apple and Netflix. Being a legacy nonprofit organization, CDSA has been renowned for its best practices in the delivery and storage of entertainment, software, and information technology since 1970.

Moreover, this is the first time a layer 2 blockchain like Shiba Inu has allied with the CDSA and is touted to significantly bolster this presence across their content development and distribution supply chains. The SHIB team is offering expertise and insight in understanding and leveraging blockchain technology for CDSA members. Speaking about the partnership, Shytoshi Kusama, the lead developer of Shiba Inu, stated,

CDSA members are the biggest names in media and entertainment, from the studios to the key partners that are part of the global ecosystem. We look forward to providing a unique and blockchain-first perspective to CDSA’s work in helping media and entertainment executives better utilize these innovative technologies, especially as blockchain and artificial intelligence converge.

Besides Apple and Netflix, CDSA members include some of the major content producers as well as high-profile partners across the media lifecycle and ecosystem. CDSA’s board includes Adobe, Amazon, Amblin, BBC, Disney, Hasbro, Legendary, LEGO, Lionsgate, NBCUniversal, Skydance, and Technicolor.

Shiba Inu: Rising Through the Ranks Amidst Meme Coin Frenzy

Shiba Inu’s strategic collaboration with the CDSA comes amidst a heightened interest in the meme coin domain. In particular, Shiba Inu’s vibrant army has been instrumental in rallying support for the token across various social media platforms and crypto communities. To further validate this momentum, SHIB recently amassed the second position in LunarCrush AltRankTM, underscoring the growing interest in the meme token.

Shiba Inu
Shiba Inu Enters CDSA Alliance for Content Innovation 2

At a time when several meme coins have cropped up, competing for the attention of investors and enthusiasts alike, Shiba Inu’s sustained social activity underscores its resilience and growing influence within the cryptocurrency space. Notably, the surge in social activity comes against the backdrop of increasing price rises and accelerating market volume

Coinbase Seeks Legal Clarity: Files Motion for Interlocutory Appeal in SEC Case

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To clarify the regulatory turbulence surrounding digital assets, Coinbase has taken a bold step. According to Eleanor Terrett at FoxBusiness Journalist, Coinbase has filed a motion seeking the green light from Judge Failla to pursue an interlocutory appeal concerning a recent ruling involving investment contracts.

The emergence of this court maneuver sprang from the central ruling made by Judge Failla, where she cited Judge Rakoff’s position on the Terra case when denying Coinbase’s Motion to Dismiss the SEC Government Case. Notably, Failla pointed out some digital assets may fall under investment contracts via the Howey Test, especially if they are working within a broader ecosystem. This interpretation has created a legal battle whereby Coinbase wants to confront it directly with authority.

Coinbase’s Argument and Industry Impact

Coinbase’s Chief Legal Officer Paul Grewal took to X (Twitter) to announce the company’s intentions. In a court brief, Coinbase wants to ask whether the “investment contract” must have a contractual part in it. The importance of this question was stressed by Grewal because it is pivotal to shaping the regulatory landscape of the rapidly growing digital asset industry.

Grewal pointed out that the SEC itself has acknowledged the existence of “controlling questions of law” in similar contexts, notably in the case of Ripple. Thus, this recognition also underscores the gravity of the legal conundrum at hand and its implications for a broader crypto sphere. This symmetry is what strikes the exchange’s position in relation to some of the earlier statements made by the SEC.

Grewal was defiant in reiterating that the exchange was absolutely committed to providing clarity in the industry. Nonetheless, even with the regulatory uncertainties surrounding it, Coinbase will still promote innovation and serve many American citizens who own digital assets.

However, this legal drama has more ramifications than just those related to the exchange’s court battles. The result of this appeal could have far-reaching consequences for the entire ecosystem of digital assets. Nevertheless, even at this point in time, when there is a lot of litigation going on, Coinbase wants its customers to be sure that they are still doing their business as usual. Despite looming regulatory uncertainties, the exchange continues with its operations unabatedly.

Related Reading | ASIC Takes Legal Action Against NGS Crypto Over Alleged Financial Services Breach

Cardano (ADA) Bull Run Signals Historic Trend Shift, Analysts Say

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In a recent analysis by Trend Rider, Cardano (ADA) enthusiasts received a bullish jolt as the cryptocurrency’s Relative Strength Index (RSI) experienced a second historic crossover. As such, this event echoes previous surges and excites the crypto community worldwide. Investors remember a $0.05 to $3 astronomical rise while the RSI crossed its Simple Moving Average twice in ADA’s history. Usually, these indicate trend changes, and hence bigger market moves have been observed in the past.

Cardano’s Historical Insights

Let’s look at historical information very carefully and see what we see. The first crossover after 2019 was an excellent indicator of the start of an oblique rise. Besides, this uptrend experienced a rapid surge following the violation of the parabolic line thereby reinforcing the soundness of such an indicator.

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Also worth mentioning is the observation of bear markets. The accurate prediction made through the bearish crossover adds credibility to the strength of this indicator. Therefore, in support of $ADA ecosystem, its accuracy has been evident in predicting long-term cycles.

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Also, there is more confidence on this predictor as a result of the second crossover between October and November 2023. Interestingly enough, months before rejection actually makes it important which shows how reliable it can be when one wants to forecast market movements.

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Overall, the­ analysis yields two clear conclusions. Firstly, the­ RSI and its SMA crossovers prove highly reliable­ indicators for identifying $ADA bull runs and bear markets e­arly on. Secondly, $ADA’s current trajectory unde­niably signals a bullish phase, fostering optimism among holders.

None­theless, excite­ment should be tempe­red with caution. The macro chart, each candle­ representing a month, highlights pote­ntial substantial volatility within each cycle. While illuminating broade­r market trends, prudent inve­stors advocate individual risk management strate­gies to mitigate unforese­en events. Ultimate­ly, the analysis bodes well for $ADA e­nthusiasts, heralding a new era of bullish mome­ntum.

Related Reading | VeChain’s Breakthrough: Analyst Predicts 400% Surge Amidst Technical Triumphs

Cardano’s Epic Sci-Fi Game Lands On April 23

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Cardano-based blockchain game Voyager: Ascension is launching on Gala Games using GalaChain on April 23. Described as a fast-paced sci-fi shooting game, it allows players to explore, conquer, and trade in a virtual universe. The game leverages Cardano’s blockchain technology to provide players with a secure and transparent gaming experience.

Diving deeper, the game features a single-player mode with 16 stages and a challenge mode with 12 levels, with plans to expand it to include a multiplayer mode in a later update. According to the press release, Voyager: Ascension will operate as a free-to-play model. Players can install and enjoy the game without any cost, except for in-game items such as an optional season pass token that offers additional rewards for completing challenges.

Cardano
Cardano's Epic Sci-Fi Game Lands On April 23 7

This kind of model is called a freemium model and is typical in modern gaming, where the base game is free. Secondly, the latest integration with Gala Games is a first of its kind and is a step forward from its original version, as it is loaded with Web3 functionalities powered by decentralized protocols and blockchain technology.

Spearheaded by a team of tech, gaming, and entertainment experts collectively known as RFLXT, it aims to tap into the burgeoning market of blockchain-based gaming and provide unique experiences for players within this ecosystem.

Cardano’s Hoskinson Tryst With Gaming

Furthermore, the involvement of industry veterans adds credibility to the project. Tony Colafrancesco, VP of Games at RFLXT, expresses enthusiasm for bringing a beloved game to Web3 audiences. Similarly, Jason Brink, President of Blockchain at Gala, shares his excitement about the partnership and his interest in the genre.

As for the Cardano founder, not much is known about his association with the gaming sector, but he has expressed interest in the intersection of blockchain technology and gaming. One project that Charles Hoskinson has been involved with is the creation of a blockchain-based trading card game called “Mongol Empire.” This game aims to utilize blockchain technology to create a unique gaming experience with player-owned assets and decentralized gameplay. Earlier, the IOG head spoke on the current challenges facing the crypto market, especially regarding liquidity and value.

VeChain and UFC Unite: Blockchain Technology Revolutionizes Fighter Gloves

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VeChain is setting on a new deal that will grasp the attention of over 900 million viewers from across the world, an unparalleled move of partnership with the Ultimate Fighting Championship (UFC). This partnership will witness the incorporation of blockchain technology in the UFC fighter gloves, which is a major development in real-world asset (RWA) tokenization.

VeChain, the leading innovate in blockchain industry, has brought VET-chips that are embedded in the gloves. These microchips are created to have a tamper-proof record of the life of the glove. With the help of blockchain technology, VeChain guarantees that all gloves that reached each fan are real, with each glove’s history and validity ascertained through this innovative technology.

VeChain Embeds Blockchain In UFC Gloves For Authenticity

The utilization of blockchain in such a high-profile sport is not only a technological wonder but it is also a strategic move which aims at spreading the knowledge and acceptance of blockchain technology into other spheres. The use of UFC fighter gloves as a tokenization asset provides an actual and personal link between the technology and the audience, which makes the abstract nature of blockchain much more understandable and palpable.

With the development of this cooperation, this is going to be one of the hot topics among real world asset updates world. The project is set to redefine the way memorabilia of this nature is authenticated providing an improvement to value and safety of the items for both collectors and fans.

Through integration of blockchain technology into everyday objects like UFC gloves, VeChain is creating an example of how blockchain can be used in all sorts of industries. This initiative not only reflects the flexibility and usefulness of blockchain but also opens the door for other industries to consider such integrations.

This groundbreaking way is just the starting line, as VeChain and UFC lead a new age where technology and sports meet to improve fan involvement and maintain accuracy in a quickly transforming digital world. While the project moves further, it is sure to keep the interest alive among technology freaks and sports fans across the globe and thus, writing a new page in the history of technology in sport integration.

Avalanche (AVAX) Retest at $46 Amidst Shifting Trends

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Avalanche (AVAX) has breached the lower boundary of an upward trending channel over the medium to long term, signaling a potential deceleration in ascent or the onset of sideways movement. This transition is acce­ntuated by the currency marginally surpassing support le­vels around 48.00 points, suggesting a potential continuation of de­cline. Moreover, the­ descending trajectory of the RSI curve­ hints at a possible onset of a downward trend in pricing.

Crypto analyst Re­kt Capital noted that $AVAX undergoes a re­test. Last week, AVAX pricing e­xperienced a downward spike­ to a crucial support level. This wee­k, AVAX has dropped below that support leve­l, suggesting the volatile re­test might still persist. For a successful re­test, AVAX must close above the re­d line at $46.41 weekly.

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Avalanche (AVAX) Short-term Price Forecast

At the time of writing, the price of Avalanche is $46.14, with a 24-hour trading volume of $645.40M and a market cap of $17.44B. Over the past 24 hours, AVAX has decreased by 1.28%, but it’s up by 4% over the last week.

AVAX 1D graph coinmarketcap 4
Source: CoinMarketcap

In contrast to the prevailing bearish se­ntiment, Changelly’s latest fore­cast for Avalanche presents a more­ optimistic outlook, predicting a substantial 11.47% increase in its value­, with a projected price of $51.69 by April 14, 2024. This fore­cast emerges amidst mixe­d signals, with Changelly’s technical indicators suggesting a Be­arish Bullish 38% market sentiment, while­ the Fear & Gree­d Index registers a robust score­ of 76, indicating Extreme Gree­d among investors.

Delving into the analysis, e­xperts have drawn insights from Avalanche’s price­ behavior at the beginning of 2023. Base­d on these trends, the­y anticipate an average AVAX rate­ of $68.71 by April 2024. Moreover, they highlight pote­ntial price ranges, with minimum and maximum prices e­xpected to be $46.04 and $91.38, re­spectively.

These­ projections offer investors valuable­ foresight, accompanied by a potential ROI of 98.8%, unde­rscoring the dynamic nature of the cryptocurre­ncy market. The forecasts provide­ a glimpse into the potential future­ performance of Avalanche amid a landscape­ of mixed market signals and investor se­ntiment.

Related Reading |  Bitget’s Q1 2024 Report: 100% Surge in Transactions, BGB Soars 80%

Ethereum’s EIP-3074 Unlocks Smart Contract Powers For Every Wallet

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EIP-3074 is slated to go live in the next Ethereum hard fork, ushering in a new era of how users interact on Ethereum Virtual Machine [EVM] chains, thus bringing affordability and power to wallet users. At its core, EIP-3074 empowers Externally Owned Accounts [EOAs], commonly known as normal wallets, with smart contract capabilities traditionally reserved for contract accounts.

The team decided to convert existing EOAs into smart contracts to avoid forcing users to migrate wallets, which is a bad user experience and costly. This shift, known as account abstraction, will not only democratize access to advanced functionalities but also enhance the user experience across the Ethereum ecosystem.

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Ethereum's EIP-3074 Unlocks Smart Contract Powers For Every Wallet 11

One notable feature of EIP-3074 is its ability to batch multiple transactions into a single transaction, simplifying the process and cutting down on fees. At present, interacting with smart contracts often involves multiple transactions, leading to inefficiencies and increased gas costs.

Additionally, EIP-3074 enhances asset recovery capabilities where users can retrieve lost funds directly through their wallets, in the event of lost or inaccessible assets, thus eliminating the need for complex and cumbersome recovery processes.

Beyond that the proposal facilitates sponsored transactions, allowing third parties to cover transaction costs on behalf of users. This opens up new possibilities for decentralized applications [dApps] and services, enabling innovative monetization models and enhancing accessibility for users with limited funds.

In conclusion, Ethereum’s EIP-3074 paves the way for simpler, more affordable, and more powerful interactions on Ethereum and EVM-compatible chains, empowering users to unleash the full potential of decentralized finance and beyond.

Ethereum Restaking Protocols Live On The Mainnet

Meanwhile, Ethereum-based restaking protocols EigenLayer and EigenDA were launched on the mainnet. Up to this point, restaking in EigenLayer required depositing LSTs or setting validator withdrawal credentials to an EigenPod. With operators and an AVS [EigenDA] now operational, active restaking involves delegating to one of the top 200 operators running AVSs. The team therefore urged network participants to brace for upcoming changes in the operator landscape.

As reported by TronWeekly, the rollout will not include in-protocol payments from AVSs to operators and slashing. The team is focusing on developing and stabilizing the EigenLayer marketplace first before adding in-protocol payments and slashing to the mainnet later this year.

ASIC Takes Legal Action Against NGS Crypto Over Alleged Financial Services Breach

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The Australian Se­curities and Investment Commission (ASIC) achie­ved a significant win against unauthorized crypto investme­nt opportunities on April 10, 2024. In a move to safeguard consume­rs, the Federal Court froze­ around $41 million in digital assets held by a group of blockchain mining firms – NGS Crypto Pty Ltd, NGS Digital Pty Ltd, and NGS Group Ltd (collective­ly NGS Companies).

The court order came­ after ASIC expresse­d concerns about the potential dissipation of inve­stor funds. The regulator allege­s the NGS Companies offere­d fixed-rate returns on blockchain mining package­s and allegedly encourage­d investors to transfer funds from regulate­d super funds into self-managed supe­r funds (SMSFs) before converting the­m to cryptocurrency. ASIC estimates ove­r 450 Australians invested in these­ packages.

Due to these­ concerns, ASIC sought the appointment of re­ceivers – Anthony Connelly, Kathy Sozou, and Jamie­ Harris from McGrathNicol – to manage the digital assets. Additionally, the­ court order restricts travel for Mr. Me­ndham, one of the directors of the­ NGS Companies.

ASIC’s Vigilance in Crypto Sector Oversight

The core­ issue is ASIC asserting the NGS Companie­s carried out operations without a valid Australian financial service­s license. This supposed bre­ach of section 911A of the Corporations Act underpins ASIC’s civil proce­edings. The regulator aims to obtain injunctions pe­rmanently prohibiting the NGS Companies from offe­ring financial services in Australia absent the­ requisite license­.

“Australians who decide to self-manage their super should consider the risks before using their SMSF to invest in crypto related investment products such as blockchain mining,” stated ASIC Chair Joe Longo. “These proceedings should also send a message to the crypto industry that products will continue to be scrutinised by ASIC to ensure they comply with regulatory obligations in order to protect consumers.”

This case highlights the evolving re­gulatory landscape surrounding cryptocurrencies in Australia. ASIC’s actions de­monstrate a proactive approach to safeguarding inve­stors in a sector known for its volatility and potential for fraud.

The incide­nt also serves as a cautionary tale for pote­ntial investors. Conducting thorough due diligence­, including verifying licensing and understanding the­ inherent risks associated with cryptocurre­ncies, is crucial before making any inve­stment decisions, espe­cially those involving SMSFs.

Related Reading | Render’s (RNDR) Resilience and Potential Surge to $16-$18 Range

Litecoin (LTC) Eyes Recovery: Analyst Predicts Bullish Breakout

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A captivating development in the cryptocurrency markets, the well-known analyst World of Charts shares a bullish view on Litecoin (LTC) in their recent X post. In the analyst’s view, LTC is showing indications that a strong recover is likely to be near.

Litecoin, also known as the silver to Bitcoin’s gold, is in the process of developing a bullish pennant pattern, a typical sign of possible growth in the financial markets. The crypto enthusiasts and traders closely follow this technical formation for the momentum to be beginning. An analysis of the current trend lines and market signals suggests that a breakout is imminent, and such a move may propel LTC’s value to a great extent.

Litecoin’s Breakout Potential: A Path To $130-$135

In the shared detailed analysis, the expert stated that if LTC manages to break this pennant formation to the upside, the cryptocurrency has a good possibility to move toward $130-135 price range in the next weeks. This prediction is not based only on the technical figures that have been observed, but also on the growing interests from investors and market nuances that follow such bullish signals.

At the time of writing, LTC is being traded at $97.30, which indicates a small increase of 0.15% in the last 24 hours. However, during the past week, LTC has experienced a decline of 1.92%. The crypto asset has been traded for a high volume of $581,898,791 in the same 24 hours, indicating active participation and significant liquidity in the market. This movement showcases the volatile nature of cryptocurrency markets where prices can fluctuate significantly within relatively short timeframes.

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The timing of this prediction is important since the crypto market is still recovering from a lengthy period of volatility. The investors and market spectators explore the signals of stabilization and growth, and LTC’s breakout constitutes a guide for both experienced and beginner investors.

With Litecoin nearing this pivotal point, the market response to these technical indicators will greatly impact Litecoin’s position within the wider cryptocurrency context. A breakout, should it occur, will confirm the bullish pennant pattern and set the tone for LTC’s performance in the upcoming months.

The speculation around the market behavior of Litecoin makes a captivating example of the crypto trading dynamics and the forecasting value of technical analysis. In the course of time, the players in the crypto sphere are vigilant and prepared to act on any major changes in Litecoin’s market direction.

Bitcoin Halving Sparks FOMO And FUD: What To Expect Next

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The countdown to Bitcoin’s 2024 halving is almost over, and the cryptocurrency world is on the edge of its seat in anticipation and speculation. Social media noise around the event has reached a climax, indicating possible price movements in a volatile market.

Based on Santiment data, talks about halving topped at 9 PM UTC as the highest social dominance experienced this year. Such peaks often turn out into significant price reversals in the crypto space analysts argue. Nonetheless, given recent flat market conditions, it might not have as much effect as many aficionados anticipate.

However, experts warn traders that in case Bitcoin goes back to its all-time high within the next few days, it may show FOMO (Fear of Missing Out) among investors and may signal a temporary peak. On the other hand, halving discussions could cause prices to fall, making it possible for one to buy more since FUD (Fear, Uncertainty, Doubt) related issues are at stake.

Unique Dynamics Of The 2024 Bitcoin Halving

Nevertheless, this forthcoming halving possesses an unusual scent around it. Bitcoin is currently trading above the previous high during the last cycle that makes forecasting about how long and intense the coming bull run is going to be even less predictable.

Experts like Antoni Trenchev, co-founder of Nexo, have pointed out the confluence of reduced supply and growing ETF demand as a powerful catalyst that is pushing Bitcoin into unexplored zones. Halving event which has seen exponential price increase in the past is not an avenue for forecasting over-optimistic future predictions because diminishing returns were experienced in each cycle.

Swan Bitcoin’s Head of Private Clients, Steven Lubka, however, demonstrates a levelheaded positivity and links this to Bitcoin ETFs bringing about a shorter but more violent bull market. He emphasizes that it is demand dynamics that are key with whale demand for BTC involving OG Bitcoiners, newcomers, and ETF holders already at an all-time high, thus magnifying the impact of supply shock soon to come.

As the countdown to halving becomes more intense, the crypto community finds itself in a tricky position, wavering between hope and caution. As much as it might not cause significant changes in the short term, its aftershocks are expected to create a new look for cryptocurrencies, hence proving that Bitcoin has defied conventional norms regarding finance rules by serving as an indestructible digital asset class.

Related Reading | Bitget’s Q1 2024 Report: 100% Surge in Transactions, BGB Soars 80%