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Commissioner Crenshaw Publicly Attacks SEC Over Coinbase Suit

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SEC Commissioner Caroline Crenshaw broke precedent today with a scathing letter directed at the Commission’s pro-crypto turn. She accused it of willfully disregarding the law to promote the crypto industry’s interests.

The trigger for this outburst was the SEC’s decision to drop its lawsuit against Coinbase. Crenshaw’s term won’t end until June, and she may become a very vocal critic if she can keep her seat.

Crenshaw Blasts SEC Over Coinbase

The SEC is one of the US’ top financial regulators, and trouble is brewing behind the scenes. Last December, the industry lobbied hard against Caroline Crenshaw, an anti-crypto Commissioner whose term was ending.

Crenshaw’s re-nomination effort failed due to this pressure, but she’s still on the SEC until June. Apparently, she has little to lose right now.

In a scathing letter posted to the SEC’s own website, Crenshaw criticized the Commission’s entire pro-crypto direction. The reason? The SEC dropped its lawsuit against Coinbase after signaling it would do so, and this was apparently a bridge too far.

Crenshaw claimed the move openly ignored 80 years of legal precedent to give the industry preferential treatment:

“Today’s action undermines the credibility of our Division of Enforcement. It creates the specter that the agency will deploy its enforcement resources in conjunction with election cycles or in favor of those with means. This invites criticism that our agency is politicized and sows distrust in government. Our agency’s job is to do what is right. This is not it,” she stated.

This criticism is particularly noteworthy because Crenshaw is still a Commissioner, and this is live on the SEC’s website. Compare it, for example, to the farewell letter that pro-crypto Commissioners wrote for ex-Chair Gary Gensler.

They praised his “extensive service,” “zealous advocacy,” and his personal friendship. In other words, SEC internal disputes are never this public.

Clearly, Crenshaw thinks that the SEC’s pro-crypto shift is a grave mistake. Moreover, she referenced the industry’s stated desire for “regulatory clarity,” and questioned if it was sincere.

This may be a reference to Hester Peirce’s Crypto Task Force, which is about to host “Spring Sprint Towards Crypto Clarity” discussions with industry representatives.

In fairness, Crenshaw may have good reason to worry about the SEC’s future. The Commission has been ending a spree of crypto enforcement actions, and some of Gensler’s old targets have been grateful for the policy shift.

Others, however, have been openly vengeful towards the Commission and want to act decisively to prevent future enforcement.

Ultimately, the Coinbase lawsuit is just the beginning. Several cases like the SEC v Ripple are still active, and Crenshaw’s term won’t expire until after key deadlines.

Disclaimer

In adherence to the Trust Project guidelines, BeInCrypto is committed to unbiased, transparent reporting. This news article aims to provide accurate, timely information. However, readers are advised to verify facts independently and consult with a professional before making any decisions based on this content. Please note that our Terms and ConditionsPrivacy Policy, and Disclaimers have been updated.



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Top 3 Hidden Altcoin Gems For March

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Altcoins like DOGEai, SIREN, and Nodecoin (NC) are gaining attention as hidden gems to watch in March. DOGEai, built on Solana, leverages multiple narratives, including Dogecoin’s popularity and the growing AI trend.

SIREN, a BNB altcoin, is poised to benefit from BNB’s rising momentum, while NC taps into the emerging DePIN narrative by rewarding users for monetizing unused internet.

DOGEai (DOGEAI)

DOGEai is an artificial intelligence coin launched on the Solana blockchain. Its market cap is $27 million, up 22% in the past seven days.

The project capitalizes on multiple narratives, including Dogecoin’s widespread popularity, increasing interest in DOGE (Department of Government Efficiency), and the trend of AI-based cryptos.

DOGEai Price Analysis.
DOGEai Price Analysis. Source: TradingView.

It positions itself as “an autonomous AI agent designed to uncover waste and inefficiencies in government spending and policy decisions,” providing bill summaries and insights into public expenditures.

If the current uptrend continues, DOGEai could challenge the resistance at $0.048, with potential upside targets at $0.057 and $0.068. A strong bullish trend could even push it to $0.098.

Conversely, if a downtrend occurs, DOGEai has support at $0.029, and if that level breaks, the price could decline to $0.0119.

SIREN

SIREN is a BNB altcoin capitalizing on the AI crypto narrative. With BNB gaining momentum – recently surpassing Solana in 24-hour trading volume – some of its altcoins, including SIREN, could attract increased attention in the coming weeks.

SIREN currently has a market cap of around $40 million, over 22,000 holders, and a daily trading volume of $1 million.

SIREN Price Analysis.
SIREN Price Analysis. Source: Dexscreener.

As interest in BNB continues to grow, SIREN could benefit significantly by positioning itself as a leading AI coin within the BNB ecosystem, which currently lags behind Solana and Base in the AI narrative.

If SIREN can establish a strong uptrend, it could challenge the resistance at $0.089, and breaking this level could push it further to $0.11. Conversely, if the downtrend intensifies, SIREN could test the support at $0.051, and if that level fails, it could drop as low as $0.034.

Nodecoin (NC)

NC is a Solana-based altcoin that serves as the native coin of Nodepay, a platform that allows users to monetize their unused internet for AI training and earn rewards.

NC is up 14% in the last seven days, with its market cap now at $14.4 million. Jason Brink, CEO of Datagram, emphasizes that DePIN coins could be one of the most underrated narratives right now:

“Given the current market sentiment, narratives tied to real-world utility and assets are poised to gain traction as investors shift focus back to fundamentals. The DePIN sector is particularly well-positioned to attract attention, encompassing projects in decentralized communication, edge computing and AI training. These networks deliver substantial cost efficiencies and reduce resource wastage, making them increasingly viable alternatives to traditional infrastructure models. Moreover, as the sector matures, sustainable tokenomics and concrete revenue models are not only reinforcing DePIN’s long-term proposition, but also aligning blockchain technology with real-world economic utility,” Brink told BeInCrypto.

NC Price Analysis.
NC Price Analysis. Source: TradingView.

If Nodecoin can build a strong uptrend, it could rise to test levels around $0.1.

However, if a downtrend emerges, it could test support at $0.056, and if that one is lost, it could go as low as $0.043.

Disclaimer

In line with the Trust Project guidelines, this price analysis article is for informational purposes only and should not be considered financial or investment advice. BeInCrypto is committed to accurate, unbiased reporting, but market conditions are subject to change without notice. Always conduct your own research and consult with a professional before making any financial decisions. Please note that our Terms and ConditionsPrivacy Policy, and Disclaimers have been updated.



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Cardano(ADA) Loses 10% Amid Declining Whale Presence

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Cardano (ADA) has been down almost 34% in the last 30 days and more than 15% in the past week. Its market cap is now at $22 billion. It has been trading below $1 for over a month, reflecting persistent bearish sentiment.

Technical indicators show a strong downtrend, with ADX rising to 46.8, signaling intensified selling pressure. However, if key support levels hold, ADA could reverse its trend and potentially break above $1 in March.

Cardano ADX Shows the Current Downtrend Is Strong

ADA’s ADX is currently at 46.8, rising sharply from 10.3 on February 23. The Average Directional Index (ADX) measures the strength of a trend without indicating its direction.

It ranges from 0 to 100, with values above 25 signaling a strong trend and values below 20 suggesting a weak or non-trending market. An ADX above 40 indicates a very strong trend, showing that market participants are highly confident in the current price movement.

ADA ADX.
ADA ADX. Source: TradingView.

With ADA’s ADX at 46.8 and the price in a downtrend, it indicates that the bearish momentum is gaining strength. This suggests that selling pressure is intensifying, making a continuation of the downtrend more likely.

Unless buying interest increases significantly, ADA could face further downside. The high ADX value confirms that the current bearish trend is strong and persistent, reducing the likelihood of a quick reversal.

ADA Whales Just Hit Their Lowest Level Since Early January

The number of Cardano whales – addresses holding between 1 million and 10 million ADA – has been steadily decreasing over the past week, dropping from 2,477 on February 21 to 2,454 currently. This is the lowest level since January 9.

Tracking these whales is crucial because they represent large investors whose buying or selling actions can significantly impact market liquidity and price movements.

When whale addresses decrease, it suggests that major holders are either reducing their positions or distributing their holdings, which can indicate a bearish sentiment.

Addresses Holding Between 1 Million and 10 Million ADA.
Addresses Holding Between 1 Million and 10 Million ADA. Source: Santiment.

This sharp decline in the number of Cardano whales could signal increasing selling pressure, potentially leading to further downside for ADA’s price.

As large holders reduce their exposure, it can create more supply in the market, driving prices lower. Additionally, a decreasing number of whales suggests weakened confidence among big investors, which could trigger further selling from smaller holders.

If this trend continues, ADA could face increased downward momentum in the coming days.

Will Cardano Return to $1 In March?

ADA’s EMA lines currently show a bearish setup, with short-term lines positioned below long-term ones, indicating ongoing downward momentum.

ADA could test the crucial support level at $0.5 if this downtrend continues strongly. If this support is lost, the price could decline further to $0.32, marking its lowest level since early November 2024.

This bearish configuration suggests continued selling pressure, increasing the likelihood of further downside unless buying interest picks up.

ADA Price Analysis.
ADA Price Analysis. Source: TradingView.

However, if the support at $0.5 is tested and holds, Cardano price could find the strength to reverse its trend.

In this bullish scenario, ADA could rise to test the resistance at $0.65.

If that level is broken, the price could continue climbing to $0.83 and even $0.90, potentially paving the way for a rally above $1 for the first time since late January.

Disclaimer

In line with the Trust Project guidelines, this price analysis article is for informational purposes only and should not be considered financial or investment advice. BeInCrypto is committed to accurate, unbiased reporting, but market conditions are subject to change without notice. Always conduct your own research and consult with a professional before making any financial decisions. Please note that our Terms and ConditionsPrivacy Policy, and Disclaimers have been updated.



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TRUMP and MAGA Surge After Heated Debate With Zelensky

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After Donald Trump got into a viral televised argument with Ukrainian President Zelensky at the Oval Office, meme coins TRUMP and MAGA spiked in value. MAGA was among the initial meme coins themed after Trump, and this is its first upward movement in over a month.

It’s impossible to determine exactly what caused traders to push MAGA up by nearly 10%, but it provides an interesting window into the meme coin space.

Meme Coins Spike As Trump and Zelensky Fall Out Publicly

Donald Trump had a dramatic impact on the meme coin space when he launched his own token, but some things never change. Earlier today, Trump hosted Ukrainian President Volodymyr Zelensky at the White House to discuss resolving the ongoing war. Things did not go according to plan, however, and a televised argument ensued:

“We’re trying to solve a problem. Don’t tell us what we’re gonna feel. Because you’re in no position to dictate that, remember this. You’ve allowed yourself to be in a good position, you don’t have the cards right now. You’re gambling with the lives of millions of people. You’re gambling with World War III!” Trump said as the dispute got out of hand.

The media cycle has been abuzz with commentators discussing this argument and its potential fallout on US-Ukraine relations and the war.

Already, some Senators are calling the meeting “a complete and utter disaster,” questioning whether Trump and Zelensky can do business ever again. However, an unexpected event happened in crypto, as TRUMP jumped up 8%:

TRUMP Meme Coin Daily Price Chart. Source: TradingView

TRUMP, the President’s official meme coin, has been on a steady decline this month. It briefly rebounded in the middle of February, helped out by a new airdrop, but it otherwise remained limp.

However, its rebound is not the most important factor to consider. MAGA, an unofficial Trump-themed token, jumped nearly 10% after the Zelensky interview.

MAGA is a completely unofficial product, bearing no affiliation whatsoever with Trump or any of his associates. It spiked a few times during the election but fell off after his victory and dropped nearly 100% after the official meme coin launched.

US Political Developments Are Now Impacting the Meme Coin Market

Understandably, Trump’s fans would rally behind him after the talk with Zelensky. These price reactions show an interesting glimpse into the mind of a meme coin trader, particularly a Trump supporter.

Are these buyers expecting it to be a sensible investment? Or are they simply trying to make a public gesture of faith for their favorite politician? It could even be a cynical move, hoping to create a pump while this story dominates the headlines.

Ultimately, due to their names, it’s almost impossible to easily search for either one of these tokens on social media. Therefore, assigning a concrete motive is speculative.

However, Vitalik Buterin previously feared that political meme coins could be used for corruption, and new proposals at the Congress echo this sentiment.

Even if politicians are banned from creating or endorsing meme tokens, enterprising individuals may keep creating them all the same.

Disclaimer

In adherence to the Trust Project guidelines, BeInCrypto is committed to unbiased, transparent reporting. This news article aims to provide accurate, timely information. However, readers are advised to verify facts independently and consult with a professional before making any decisions based on this content. Please note that our Terms and ConditionsPrivacy Policy, and Disclaimers have been updated.



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