AltSignals Blog

Prominent Hyperliquid trader James Wynn increases his Bitcoin bet to $1.25 billion, demonstrating high risk in the volatile cryptocurrency market. Following a successful trade with PEPE, Wynn suffered losses with Ether and Sui, further amplifying his Bitcoin position. Amid market changes sparked by global news, Wynn’s aggressive trading strategy continues to influence his total profits and losses.

Ember Sword, a blockchain-based online game, announces shutdown due to lack of funding. The Ethereum-based project was unable to secure the necessary funds for development after launching its early access. The game had made a high-profile switch to network Mantle from the Polygon ecosystem and is the latest to close among web3 games. Its native token, EMBER, shows minimal price activity and has plummeted more than 99% since peak.

Discover how Web3 can thrive without blockchains, as Grigore Rou, founder of Pi Squared, explores alternatives to traditional blockchain structures. Delve into scalable, flexible protocols that surpass rigid total ordering, and the future role of blockchain as a universal verifier within a more agile stack, that could significantly revolutionize Web3’s development and application.

Enjin Blockchain now supports testnet for stablecoins USDC and USDT via its NFT and gaming platform, Hyperbridge. This step unlocks cross-chain utility with the help of Enjin’s MultiToken Pallet – part of Enjin’s Substrate-based blockchain architecture. This move allows for the creation, transfer, and management of various tokens, including stablecoins. Following this, users can get their original token back by burning their multitokens on Enjin. The platform also migrated 200 million NFTs to its mainnet to encourage its network’s usage.

Bitcoin reached a new all-time high of $111,970 on May 22nd before coming down slightly to $110,700. Despite the slight drop, market overheating is at a low, indicating a possible further rise for Bitcoin. Analyses of Bitcoin’s relative strength index also show overbought conditions, resulting in extreme greed conditions among investors.

FLOKI coin shows bullish trends with a 10.75% surge in recent trading sessions. The crypto asset, following a successful reclaim of key support zone, is now eyeing a significant resistance level. Breakout from this level could trigger a 22% rally. The cryptocurrency market scoreboard also suggests further positive movement for the FLOKI coin, making it a potential investment opportunity.

Cetus, a decentralized exchange on the Sui blockchain, is suspect of a significant exploit that potentially drained $200 million in digital assets. The issue was revealed through a marked drop in asset values and an unusual spike in transaction volume. Investigators are now examining the incident, as questions are again raised about transparency of DeFi projects.

Former SafeMoon CEO, Braden Karony, has been convicted of all charges in a crypto fraud case. The charges include securities fraud, wire fraud, and money laundering. Karony misled investors about SafeMoon’s operations and used the funds to buy luxury goods. Following the news, SafeMoon’s token fell 7%. Karony, who gained over $9 million from the fraud, now faces a sentence of up to 45 years.

Bitcoin and gold rise amid Japan’s debt crisis, with Bitcoin bulls maintaining a target of $108,000. The current Bitcoin price uptrend may halt abruptly, despite an all-time high of $109,000. Instability in Japanese fixed income markets is causing global concern, which could influence the crypto and gold market. While the bearish outlook is present due to Bitcoin’s relative strength index, bullish price targets of $116,000- $128,000 are still in force for when all-time highs are surpassed.