Category Archives: Cryptocurrency

The team behind the cryptocurrency lending protocol Sonne Finance is offering a hacker an undisclosed bounty following a $20 million theft on Tuesday evening.

Sonne Finance allows people to lend and borrow funds without the need for intermediaries such as banks. Several blockchain security companies tracked more than $20 million flowing out of the system on Tuesday evening in digital coins such as ether, the U.S.-dollar-backed USDC and others.

The developers confirmed that they had paused all markets and later published a postmortem on the attack explaining that the attacker was able to exploit the protocol for ~$20 million.

We are ready to give bounty to exploiter as well as not to commit pursuing the issue further, in case of returning the funds, Sonne Finance said, noting that it is in contact with anyone that can help with recovering the funds.

They discovered the attack within 25 minutes of it being executed, and some users were able to save about $6.5 million from being stolen through technical maneuvers.

Since the attack, the hacker has been swapping the stolen cryptocurrency for bitcoin and other coins in a flurry of transactions.

Law enforcement scrutiny of crypto thefts and the transfer to stolen funds has increased significantly in 2024, with several high profile market manipulators and operators facing charges.

Last month the man behind a $110 million theft from popular crypto platform Mango Markets was convicted in a federal court and is facing up to 30 years in prison.

A Bulgarian woman behind a crypto scam also was given a four-year sentencein April and the cofounder of anonymizing cryptocurrency service Tornado Cash will spend about five years in prison following a conviction on Tuesday in the Netherlands.

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is a Breaking News Reporter at Recorded Future News. Jonathan has worked across the globe as a journalist since 2014. Before moving back to New York City, he worked for news outlets in South Africa, Jordan and Cambodia. He previously covered cybersecurity at ZDNet and TechRepublic.

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Sonne Finance developers offer bounty to hacker behind $20 million crypto theft - The Record from Recorded Future News

Leading financial analyst Raoul Pal gave a bold prediction for thefuture of the cryptocurrency market.He predicted that the cryptocurrency market would boom in the coming yearsleadingto a market cap worth trillions.

During an analysis in The Everything Code,Pal gaveouta bold forecast explaining that the cryptocurrency market will gain a market cap of $100 trillion.

Also Read: Currency: What To Expect From The US Dollar Today

The analyst explained the macroeconomic trends that shaped the global financial sector after the 2008 crisis. According to Pal, every downward cycle propels technology stocksfirstas they are instrumental in shaping the future of the markets. He cited that cryptocurrencies are technology-based and the next downturn willpropelthem to new heights post-recovery.

Palunderpinned observationsthat the technology sector gains the most after a market crash. He explained that the cryptocurrency market is the firstin lineto benefit from a downturn as its technology is new and unexplored.

Also Read: Nvidia Stock Prediction:What Will Its Price Be in 2025?

Theexpertpredicted that if the cryptocurrency market gains a market cap of $2.5 trillion, the next stop is $100 trillion. Pal backed his prediction using Metcalfes Lawwhichfuels unprecedented levels of adoption.

According to him, the market will experience massive adoption after the next downturnwhichwill propelit to new highs.Even Chris Burniske, the former head of ARKInvestagreed to Raoul Pals bold and bullish forecast. Burniske said that he will not rule out Pals observations as a $100 trillion market cap for cryptocurrency is possible.

Also Read: GameStop: GME Forecasted to Reach $86; Heres When

ARK Invests Cathie Woodalsofirmly believes that Bitcoin could reach $1 million in the coming years. If that happens, the overall cryptocurrency market will boomleadingto several altcoins touching new highs in the charts. In conclusion, top industry insiders believethat thestage for the market to surge isbeing set.

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$100 Trillion Market Cap For Cryptocurrency Will Be a Reality: Analyst - Watcher Guru

As Nathaniel Hawthorne wrote in the1800s, families are always rising and falling in America.

And the same holds true for the cryptocurrency and Web3 space in 2024.

Thats because, whether it is the sectors market valuation, or education and acceptance around Web3 technologies, or even the promised land of scalable usability, the journey from an arms-length distancing of crypto to a potential embrace of blockchain-based solutions has had its fair share of ups and downs in the decade and a half since bitcoin first emerged on the scene in 2009.

But while awareness, acceptance and adoption are all crucial in driving the evolution of cryptocurrency, it is two other critical factors that will determine cryptos success: its usability anditsutility particularly across payment ecosystems.

Underpinning those two factors, of course, is the elephant in the room of establishing a productive regulatory framework to govern Web3.

This, as the past week brought with it a basket of news all showing that the ice around cryptos regulatory and usability woes would potentially be thawing. Thats why, from legal moves to fundraises, to payments use cases and beyond, these are the top stories around the Web3 landscapethat PYMNTS has been tracking for the past week.

Read more: Making Sense of the State of Crypto in 2024

The crypto community is playing politics to win, with the 440,000 member-strong nonprofit groupStand With Cryptoreportedly forming a political action committee (PAC) to support candidateswho arefriendly to cryptocurrency and blockchain.

The new PAC aims to raise money from Stand With Cryptos nearly half a million members, and it comes against a backdrop where the crypto sectorssuper PACshave become one of the top three fundraisers in the 2024 election cycle.

The crypto industry is hoping that a friendlier and more educated group of lawmakers could finally push through a regulatory framework for cryptocurrencies.

And on Friday (May 10), that goal got one step closer to the finish line, as a bill that promises regulatory clarity for digital assets has moved a step closer to a vote in the U.S. House.

TheHouse Committee on Rulessaid Friday that it will consider theFinancial Innovation and Technology for the 21st Century (FIT21) Act(H.R. 4763), which means the bill could go to a floor vote later in May, theHouse Financial Services Committeesaid.

FIT21 would delineate when acryptocurrencyis a commodity or security and assign oversight appropriately between the CFTC and the SEC.

But that wasnt the only legal news in Web3 this week. As it prepares to go public, stablecoin issuerCircleis reportedly also planning to transfer itslegal basefrom Ireland to the United States, as reported Wednesday (May 15).

While on Monday (May 13), U.S. President Biden issued an order blocking a Chinese-backed cryptocurrency mining firm from owning land near an American nuclear missile base, citing the mining firms proximity to the military base as a national security risk.

After all, crypto does have its perils. North Korea laundered $147.5 million through virtual currency platform Tornado Cash in March after stealing it last year from a cryptocurrency exchange, per a report Tuesday (May 14).

Its important to know that crypto is not just bitcoin and Doge and NFTs,Sheraz Shere, head of payments atSolana Foundation, told PYMNTS on Monday. Blockchains are really alternative rails for payments and financial assets.

Theres a lot of misconceptions with people in the financial services industry about compliance andregulation,and that they wouldnt want to touch blockchain with a 10-foot pole, Shere added. And I think in the past that may have been true, but there are a whole new set of protocol-level controlsthat exist nowthat provide even more fine-grain control that you often have with traditional financial rails.

In the conversation with PYMNTS, he stressed the need for crypto players and enterprise businessesaliketo focus on real-world use cases, such as cross-border payments, where blockchain solutions offer advantages over traditional systems.

Another use case for the blockchain being experimented with is the use of its immutable ledger for recording and storing digital identities. Humanity Protocol, a startup that aims to verify peoples online identities using scans of their palms, has raised $30 million at a $1 billion valuation, per a Wednesday report.

Still, for the everyday retail investor, the recent surge in bitcoin prices has the phones at crypto wallet recovery firms ringing off the hook, according to a Thursday report, as investors locked out of their Web3 wallets try to regain access and capture the market surge.

The market surge is resulting in a rash of new coins, as there were nearly 1 million new crypto tokens created in the last month, a number that is 2x the total number ever made on Ethereum from 2015-2023.

And PYMNTS wrote in March about how representatives of fraudulent businesses claiming to provide cryptocurrency tracing and promising an ability to recover lost funds are turning to social media and other messaging platforms to contact victims directly about solving their lost assets.

These recovery scheme fraudsters charge an up-front fee and either cease communication with the victim after receiving an initial deposit, or produce an incomplete or inaccurate tracing report and request additional fees to recover funds. Fraudsters may claim affiliation with law enforcement or legal services to appear legitimate.

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This Week in Web3: Crypto Payment Rails and Regulatory Clarity - PYMNTS.com

NEW YORK, NY / ACCESSWIRE / May 15, 2024 / Drink to the van of invention in the realm of cryptocurrency - hello to Fourprime Token! In this composition, we'll take an instigative trip into the world of Fourprime, exploring its revolutionary impact, groundbreaking features, and how it's reshaping the future of finance. But before we dive in, let's understand what sets Fourprime Token apart in the dynamic geography of cryptocurrencies.

Introduction

In a world where traditional fiscal systems are being challenged, Fourprime emerges as a stopgap, combining invention with the power of cryptocurrency. But what exactly is Fourprime, and how does it stand out amidst an ocean of digital currencies?

What's a Fourprime Token?

Fourprime is a revolutionary cryptocurrency platform that aims to review the way we perceive and interact with digital means. Unlike traditional currencies controlled by centralized authorities, Fourprime operates on a decentralized network, empowering druggies with less control and translucency over their finances.

The Technology Behind Fourprime

Powered by cutting-edge blockchain technology, Fourprime leverages a distributed tally system to record deals securely and transparently. This technology ensures that every sale made on the Fourprime network is inflexible and resistant to tampering, furnishing druggies with a high level of security and trust.

Fourprime's Unique Features

Fourprime Token boasts a plethora of unique features designed to enhance the stoner experience and streamline deals. From lightning-fast pet sales to low freight costs and scalability, Fourprime is finagled to meet the demands of today's digital frugality with ease.

How to Get Started with Fourprime

Getting started with Fourprime is a breath of fresh air. Simply visit the Fourprime Token website, subscribe for an account, and start exploring the world of digital finance. Whether you are a seasoned investor or new to cryptocurrency, Fourprime offers a stoner-friendly platform that caters to all situations of moxie.

Security Measures

Security is consummate in the world of cryptocurrency, and Fourprime takes it seriously. With robust encryption protocols,multi-factor authentication, and cold storage results, Fourprime ensures that your digital means are safe from cyber pitfalls and unauthorized access.

Fourprime Community

At the heart of Fourprime Token lies a vibrant and active community of druggies and inventors who are passionate about driving invention in the cryptocurrency space. Join the Fourprime community moment to connect with such- inclined individuals, share ideas, and stay streamlined on the latest developments.

Benefits of Fourprime

The benefits of Fourprime Token are vast and different. From fiscal sovereignty and borderless deals to lesser sequestration and security, Fourprime offers a host of advantages that traditional fiscal systems simply can not match.

Future Potential

As the world of cryptocurrency continues to evolve, the unborn eventuality of Fourprime is measureless. With ongoing development sweats, strategic hookups, and a growing stoner base, Fourprime is poised to become a dominant force in the digital finance geography for times to come.

Conclusion

Fourprime represents the confluence of invention and the cryptocurrency revolution. With its unique features, robust technology, and unvarying commitment to security and transparency, Fourprime is paving the way for a brighter, more inclusive fiscal future.

Company's Website: http://www.fourprime.io Email: [emailprotected] Contact Person: Bennett James

SOURCE: FourPrime

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Unveiling Fourprime Token Where Innovation Meets Cryptocurrency Revolution - AccessWire

Overview of Binance

Binance, the world's leading cryptocurrency exchange, continues to dominate the global market, serving 169 million registered users in over 180 countries. Known for its low fees and a broad range of cryptocurrencies, Binance is the preferred platform for trading Bitcoin, Altcoins, and other virtual assets.

Users of Binance have the opportunity to trade hundreds of cryptocurrencies on various markets. These include the Spot, Margin, and Futures markets. Each market provides different opportunities and risks, allowing traders to diversify their portfolio and strategies.

With Binance P2P, users can buy and sell cryptocurrencies directly with other users. This peer-to-peer system provides a platform for users to negotiate prices directly and complete transactions quickly and easily.

Binance also offers its users the opportunity to earn interest on their cryptocurrencies with Binance Earn. Additionally, Binance Launchpad provides a platform for users to buy or earn new tokens. This platform has become a popular choice for new projects looking to raise capital and gain exposure.

The Binance NFT marketplace offers users the opportunity to trade, stake, and loan Non-Fungible Tokens (NFTs). As the NFT space continues to grow, Binance's marketplace provides a platform for artists, creators, and collectors to buy, sell, and interact with these unique digital assets.

. . .

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Binance: A Comprehensive Overview of The World's Leading Cryptocurrency Exchange - Blockchain.News

An indictment was unsealed Wednesday charging Anton Peraire-Bueno, 24, of Boston, and James Pepaire-Bueno, 28, of New York, with conspiracy to commit wire fraud, wire fraud, and conspiracy to commit money laundering. The charges in the indictment arise from an alleged novel scheme by the defendants to exploit the very integrity of the Ethereum blockchain to fraudulently obtain approximately $25 million worth of cryptocurrency within approximately 12 seconds.

Anton Peraire-Bueno and James Peraire-Bueno were arrested Tuesday in Boston and New York, respectively, and will be presented Wednesday afternoon before U.S. Magistrate Judge Paul G. Levenson for the District of Massachusetts and U.S. Magistrate Judge Valerie Figueredo for the Southern District of New York.

As alleged in todays indictment, the Peraire-Bueno brothers stole $25 million in Ethereum cryptocurrency through a technologically sophisticated, cutting-edge scheme they plotted for months and executed in seconds, said Deputy Attorney General Lisa Monaco. Unfortunately for the defendants, their alleged crimes were no match for Department of Justice prosecutors and IRS agents, who unraveled this first-of-its kind wire fraud and money laundering scheme. As cryptocurrency markets continue to evolve, the Department will continue to root out fraud, support victims, and restore confidence to these markets.

Today, my office indicted two brothers Anton Peraire-Bueno and James Peraire-Bueno for conspiracy to commit wire fraud, wire fraud, and conspiracy to commit money laundering, all stemming from their alleged scheme to exploit the Ethereum blockchain and to obtain about $25 million worth of cryptocurrency from it, said U.S. Attorney Damian Williams for the Southern District of New York. As we allege, the defendants scheme calls the very integrity of the blockchain into question. The brothers, who studied computer science and math at one of the most prestigious universities in the world, allegedly used their specialized skills and education to tamper with and manipulate the protocols relied upon by millions of Ethereum users across the globe. And once they put their plan into action, their heist only took 12 seconds to complete. This alleged scheme was novel and has never before been charged. But as the indictment makes clear, no matter how sophisticated the fraud or how new the techniques used to accomplish it, the career prosecutors of this office will be relentless in pursuing people who attack the integrity of all financial systems.

These brothers allegedly committed a first-of-its-kind manipulation of the Ethereum blockchain by fraudulently gaining access to pending transactions, altering the movement of the electronic currency, and ultimately stealing $25 million in cryptocurrency from their victims, said Special Agent in Charge Thomas Fattorusso of the IRS Criminal Investigation (IRS-CI) New York Field Office. In this case, IRS-CI New Yorks Cyber Unit simply followed the money. Regardless of the complexity of the case, we continue to lead the effort in financial criminal investigations with cutting-edge technology and good-ole-fashioned investigative work, on and off the blockchain.

As alleged in the indictment, Anton Peraire-Bueno and James Pepaire-Bueno are brothers who studied mathematics and computer science at one of the most prestigious universities in the country. Using the specialized skills developed during their education, as well as their expertise in cryptocurrency trading, Anton Peraire-Bueno and James Pepaire-Bueno exploited the very integrity of the Ethereum blockchain in order to fraudulently obtain approximately $25 million worth of cryptocurrency from victim cryptocurrency traders (the Exploit). Through the Exploit, which is believed to be the very first of its kind, Anton Peraire-Bueno and James Pepaire-Bueno manipulated and tampered with the process and protocols by which transactions are validated and added to the Ethereum blockchain. In doing so, they fraudulently gained access to pending private transactions and used that access to alter certain transactions and obtain their victims cryptocurrency. Once the defendants stole their victims cryptocurrency, they rejected requests to return the stolen cryptocurrency and took numerous steps to hide their ill-gotten gains.

Anton Peraire-Bueno and James Pepaire-Bueno meticulously planned the Exploit over the course of several months. Among other things, they learned the trading behaviors of the victim traders whose cryptocurrency they ultimately stole. As they planned the Exploit, they also took numerous steps to conceal their identities and lay the groundwork to conceal the stolen proceeds, including by setting up shell companies and using multiple private cryptocurrency addresses and foreign cryptocurrency exchanges. After the Exploit, the defendants transferred the stolen cryptocurrency through a series of transactions designed to conceal the source and ownership of the stolen funds.

Throughout the planning, execution, and aftermath of the Exploit, Anton Peraire-Bueno and James Pepaire-Bueno also searched online for information about, among other things, how to carry out the Exploit, ways to conceal their involvement in the Exploit, cryptocurrency exchanges with limited know your customer procedures that they could use to launder their criminal proceeds, attorneys with expertise in cryptocurrency cases, extradition procedures, and the very crimes charged in the indictment.

If convicted, Anton Peraire-Bueno and James Pepaire-Bueno each face a maximum penalty of 20 years in prison for each count.

Read more here:
Two Brothers Arrested for Attacking Ethereum Blockchain And Stealing $25M In Cryptocurrency - Eurasia Review

Hong Kong police have arrested three workers at a currency exchange shop after a customer was allegedly shown stacks of hell money before transferring about HK$1 million (US$128,010) worth of cryptocurrency.

The forces technology crime division on Wednesday arrested three men, aged between 31 and 34, on suspicion of obtaining property by deception and confiscated 3,000 hell banknotes, a safe and a note counting machine at a shop in Tsim Sha Tsui.

Hell banknotes are a form of ceremonial paper money that is burned as an offering to ancestors or deities in traditional Chinese culture.

Police said they received a report from a 35-year-old man on April 12 who alleged he had been unable to retrieve cash after selling about HK$1 million worth of the digital currency Tether, or USDT, at a shop in Tsim Sha Tsui that day.

An investigation found that the suspects allegedly showed the victim stacks of hell banknotes with a face value of HK$500 and persuaded him to transfer about HK$1 million worth of USDT to a cryptocurrency wallet provided by them.

After they took possession of the virtual currency, the suspects made several excuses, declined to hand over cash as agreed and left the scene.

Anyone convicted of fraud in Hong Kong is liable to up to 14 years imprisonment.

Those convicted of obtaining property by deception face 10 years behind bars.

Police appealed to the public to choose reputable cryptocurrency exchanges for their transactions and to carefully inspect banknotes for security features.

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Crypto customer scammed in alleged HK$1 million hell money scheme in Hong Kong - South China Morning Post

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Launched in 2020, Solana promised a leap forward in the development of blockchain technology, with unparalleled transaction speeds and a vision for a more scalable and efficient future. The Solana blockchain and its native token (SOL) have experienced both periods of success and formidable challenges over the past three years: from all-time price highs in 2021 to navigating industry-wide catastrophes in 2022, as it has sought to carve out its own niche in the digital asset space and mark its place as a rival to Ethereum.

After a remarkable comeback in 2023, many investors are asking: what does the future hold for this high-speed blockchain?

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Solana first went public via its initial coin offering (ICO) in April 2020, entering the crypto market at an initial price of INR $0.9511. It quickly garnered attention for its innovative technology, promising a scalable solution for decentralised applications. This potential was not unnoticed, as the price of Solana soared, reaching an all-time high of $260 on Nov. 6, 2021.

However, the volatile nature of cryptocurrency markets soon left their mark. The 2022 bear market was not kind to Solana, causing the value of the SOL token to decline over 90% from its 2021 highs. In particular, the collapse of FTX, a significant cryptocurrency exchange with deep ties to Solana, triggered a sharp decline in SOLs value. The coin lost over 50% of its value overnight, a stark reminder of the interconnected risks within the crypto ecosystem. This event led to Solanas price dipping below $US10 in late 2022, casting doubts on its future.

Despite these challenges, Solana has demonstrated an ability to rebound. The last quarter of 2023 marked a significant turnaround for the coin, propelling its price above $US120 for the first time in years. This resurgence reflects not merely market dynamics but also the underlying strength and improvements within the Solana network.

A 300% rise in the last 12 months has seen Solana firmly entrench itself as a top five coin by market cap, CEO of CoinJar, Asher Tan, tells Forbes Advisor.

This turnaround can be attributed to several factors, not least of which was the platforms almost full-year of network uptime. After a series of outages plaguing Solana, causing frustration among users and investors alike, the network has stabilised.

A series of outages now seemingly behind them, increased platform stability, and a SOL price rally has provided some vindication for Solana holders entering 2024, Tan adds.

Related: How to Buy Solana

As we peer into the crystal ball, Solanas trajectory for the year ahead appears optimistic with plenty of opportunities for significant advancements. The past year has laid a solid foundation for Solana, setting the stage for what could be an unprecedented period of growth and innovation.

One of the most compelling narratives around Solanas rise is its increasing dominance in the decentralised finance (DeFi) and non-fungible token (NFT) sectors.

Solanas ability to match or even surpass Ethereum in these critical aspects of the blockchain economy indicates a robust and scalable infrastructure capable of handling significant transaction volumes, a crucial factor for its continued adoption and growth.

The NFT market, in particular, has been a battleground for innovation and competition among various blockchain platforms. Solanas aggressive foray into this space has not gone unnoticed.

With its high throughput and low transaction costs, Solana provides a compelling platform for NFT activities, positioning it as a strong contender for leading the market in 2024.

Many projects building on Solana have successfully mastered the art of marketing to crypto investors, attracting them through high yields and point systems that promise an airdrop in return for using their app.

Over the past few months, active Solana users have been rewarded with significant airdrops from multiple projects. Most notably, users of Jito and, more recently, Jupiter Exchange, received airdrops worth upwards of $10,000. These efforts have been pivotal in drawing an influx of capital, further energising the ecosystem.

As we explore the future prospects of Solana, its imperative to balance our perspective by considering both the bullish and bearish viewpoints:

Like many up and coming blockchain platforms, Solanas success is often viewed through the lens of its comparison to Ethereum, which leads the category for blockchain smart contract platforms.

The Ethereums success formulalowering barriers to entry and fostering a thriving communitysuggests a bullish outlook for Solana as it continues to carve out its niche in the competitive blockchain space.

However, its crucial to consider the challenges and trade-offs that have accompanied Solanas growth. When considering the blockchain trilemma, which refers to the challenge of achieving a balance between scalability, security, and decentralisation in a blockchain network, it is clear that Solana has sacrificed decentralisation for scalability.

The proliferation of Layer-2 solutions on Ethereum addresses many of the criticisms levelled against Ethereums scalability and throughput, offering a counterpoint to the necessity of Layer-1 solutions like Solana.

Furthermore, Ethereums successful transition to Proof-of-Stake, known as The Merge, exemplifies its ability to overcome significant challenges.

While Ethereum has managed to navigate difficult engineering and public perception challenges like The Merge to Proof-of-Stake, Solanas relatively short operating history has yet to see its leadership tested in the same manner, Tan says.

Uncertainties surround Solanas capacity to navigate future challenges, particularly in an environment where its architectural compromises could be tested against the evolving demands of the blockchain market.

The future outlook for Solana contains both promise and potential hurdles. The bullish case rests on its demonstrated ability to captivate the markets imagination and emulate aspects of Ethereums successful growth strategy. Conversely, the bearish perspective raises important questions about the sustainability of its architectural choices and untested leadership in the face of potential challenges.

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The investment potential of Solana is a topic of considerable debate within the cryptocurrency community. With its innovative technology and active ecosystem, Solana has captured the attention of investors looking for the next big opportunity in the blockchain space.

This anticipation of future product releases indicates an ongoing effort to innovate and expand Solanas reach, contributing to its appeal as a potentially valuable investment.

Determining whether Solana is a good investment depends on several factors, including ones appetite for risk, investment horizon, and belief in the platforms technological and market potential. While Solana presents a compelling case with its innovative features and community enthusiasm, investors must also weigh its challenges in achieving long-term dominance. As with any investment in the volatile cryptocurrency market, thorough research is critical and speaking with a financial advisor before making a decision is always recommended.

This article is not an endorsement of any particular cryptocurrency, broker or exchange nor does it constitute a recommendation of cryptocurrency or CFDs as an investment class. Cryptocurrency is unregulated in Australia and your capital is at risk. Trading in contracts for difference (CFDs) is riskier than conventional share trading, not suitable for the majority of investors, and includes the potential for partial or total loss of capital. You should always consider whether you can afford to lose your money before deciding to trade in CFDs or cryptocurrency, and seek advice from an authorised financial advisor.

Purchasing Solana (SOL) in India is a straightforward process, accessible through various cryptocurrency exchanges. To start, youll need to create an account on a reputable exchange that lists SOL. After verifying your identitya standard compliance step to ensure security and prevent fraudyou can deposit Indian rupee (INR) into your account using methods like bank transfer, credit/debit card, or even PayPal on some platforms. Once your funds are deposited, navigate to the SOL/INR market on the exchange, where you can place an order to buy SOL at either the current market price or a specified limit price.

Once you have SOL, you must decide where to store it. Most exchanges have an integrated crypto wallet; however, you may want to consider moving it to a private hardware wallet for the best security.

Predicting the exact price of Solana (SOL) in 2025 is challenging due to the highly volatile and unpredictable nature of the cryptocurrency market. Factors such as technological advancements within the Solana ecosystem, changes in regulatory environments, market sentiment, and broader economic conditions can all significantly impact Solanas future value. Analysts and experts may offer predictions based on current trends and historical data, but its essential to approach these forecasts cautiously and conduct thorough research before making investment decisions. It is always wise to consult a financial advisor before making an investment decision.

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Solana (SOL) Price Prediction 2024,2025 And 2030 Forbes Advisor INDIA - Forbes

Following the fourth Bitcoin (BTC-USD) halving on Apr. 19, we arent seeing the explosive growth promised by many experts in the field, which is why investors are now looking for cryptos to avoid rather than buy.

Experts agree that Bitcoins halving will raise prices. The slower number of new coins entering circulation after previous halvings caused Bitcoin prices to rise significantly higher.

SkyBridge Capital founder Anthony Scaramucci predicts Bitcoin might reach $200,000 within a year following the split. Ark Invests Cathie Wood is even more bullish. She believes Bitcoin may reach $1 million and alter wealth management. So does Jack Dorsey, CEO of Square (NYSE:SQ).

Yet Bitcoin might not be alone. Although it is a store of value, Ethereum (ETH-USD) might rise in value because it boasts upgrades such as Dencun, which introduces proto-danksharding with EIP-4844. According to Ethereum, it is a way for rollups to add cheaper data to blocks.

No such luck when it comes to the cryptos to avoid we will explore. The first name is in a legal battle with a key U.S. regulator, which could affect the sector. The second is the largest exchange but is in legal trouble in many countries. Well conclude with a meme coin to profit from.

Source: Shutterstock

Ripple (XRP-USD) makes it easier to exchange cash and digital currencies. It is targeting a total addressable market projected to grow at 7.3% annually between 2023 and 2032 and eventually reach $356.5 trillion, according to Allied Market Research.

However, despite its potential, a long-burning issue investors need to take into account when dealing with XRP is the case between the Securities and Exchange Commission (SEC) and Ripple Labs.

Last year saw a big development when Judge Analisa Torres ruled that Ripple did not break securities laws when it sold XRP to exchanges and let regular people invest, but did break the law when it sold tokens directly to institutions. As it was a partial win, Ripple gained 96% after the decision. Unfortunately, those wins were lost on Dec. 20 as Solana (SOL-USD) passed XRP to become the fifth-largest cryptocurrency on the crypto market.

Whats more, as a part of the final decision in the SEC case, Ripple can potentially suffer a $1.95 billion fine. That could result in a drop from its current price of $0.5051, which is up a modest 18% in 2024.

Stuart Alderoty, Ripples top legal officer, says the issue could be resolved in 2024, making it one of the cryptos to avoid right now.

Source: Shutterstock

Over 170 million people use Binance (BNB-USD), the biggest cryptocurrency exchange in the world. However, its legal issues, especially in the U.S., put pressure on BNB, the cryptocurrency coin used to trade and pay fees on the exchange.

As part of its deal with the Justice Dept., Binance left the U.S. market and paid off big debts to FinCEN, OFAC, and foreign asset tracking agencies.

So far, Binance is also unable to reenter the U.K. market due to regulatory issues. Meanwhile, a Binance executive arrested in Nigeria is now on trial after reports of involvement in major crimes.

In Canada, Binance has been fined many times for breaking anti-money laundering and Combating the Financing of Terrorism rules. This includes a $4.4 million fine for helping with many big acquisitions without being registered.

However, Binance is still coming up with new ideas in the coin area. Binance Wallet has recently started to accept Bitcoin Atomic ARC-20 assets, which will make it easier to do NFT deals.

Nevertheless, the court battles, especially in the U.S., will continue to dampen BNBs outlook.

Source: Shutterstock

Shiba Inu (SHIB-USD) finishes off our discussion on cryptos to avoid, and it might seem strange, considering, the 166% gain this year. But this is one of the biggest meme coins around, which means its time to take profits.

The meme coin is mostly appealing because of its community and the possibility of future gains. It doesnt have a strong use case or value outside of the speculative market, which sometimes will rally for the odd Elon Musk tweet. For risk-averse investors, its better to invest in Ethereum and Solana instead.

Ethereum has integrated proto-dank sharding with EIP-4844 to Dencun. Less data to analyze and regular memory deletion to clear up space make transactions more efficient. The network should eventually handle 100,000 transactions per second. Meanwhile, the Scourge phase addresses Ethereum network control and economic inequality. MEV (Maximal Extractable Value) Burn in ePBS and Proposer-Builder Separation decentralizes transaction addition and reduces validators influence on transaction selection.

Solana has been enhancing its infrastructure to streamline transactions and stabilize the network. Firedancer, a new validation client, should speed up network transactions. Tests showed it could handle 0.6 million to 1 million transactions per second.

SHIB did power the CoinDesk 20 index to major gains this year. However, investors might want to wait for a tweet from Elon Musk about his next Shiba Inu puppy for the next bump in price, and thats something no one can predict.

On the date of publication, Faizan Farooque did not have (either directly or indirectly) any positions in the securities mentioned in this article.The opinions expressed in this article are those of the writer, subject to the InvestorPlace.comPublishing Guidelines.

Faizan Farooque is a contributing author for InvestorPlace.com and numerous other financial sites. Faizan has several years of experience in analyzing the stock market and was a former data journalist at S&P Global Market Intelligence. His passion is to help the average investor make more informed decisions regarding their portfolio.

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Cryptocurrency Warning: Avoid These 3 Failing Names - InvestorPlace

A bull run is defined as a period where the majority of investors demand outweighs supply, market confidence hits a peak and prices rise. If in a given market you witness prices quickly climbing, it could be a sign that the majority of investors are becoming bullish and are optimistic about the price increasing further and may mean that youre looking at the starting point of a bull market. Bitcoin Halving appears to be fueling the next bull run to happen in 2024.

Investing in the best altcoins can be rewarding as they offer diversification and potentially higher returns. However, it is important to approach the altcoin landscape with caution and do a thorough research. Understanding the development team, technology, community and use case of altcoins are vital factors for making informed decisions.

Additionally, it is essential to be updated on market trends and regulatory changes for navigating the ever-evolving cryptocurrency landscape. By evaluating these key factors, investors can make strategic decisions when considering altcoin investments. Let us see some altcoins to consider buying for the next bull run in 2024.

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Market cap: $352.50 billion

Ethereum is one of the biggest altcoins on the crypto market. Of the almost $2.16 trillion that portrays the total market capitalization of the 20,000-plus crypto assets, more than 17% is held in ETH. It is a distributed computing network where users can use the blockchain to run dApps and host smart contracts.

Ethereum critics point to high fees for running transactions. However, ETH is here to stay with thousands of apps and other altcoins powered by its blockchain.

Market cap: $59.55 billion

Solana gained popularity among crypto investors helped by its lightning-fast transaction speeds along with low fees. It is a blockchain platform that is highly focused on overcoming the challenges of speed and scalability faced by many existing blockchains.

On March 4, 2024, it surged by approximately 7% in 24 hours, surpassing the BNB coin and securing a higher rank among the top five cryptocurrencies. Solana has jumped nearly 16.60% in the last seven days.

On May 2, 2024, it surged by approximately 10.12% in 24 hours, but BNB coin surpassed and secured a higher rank among the top five cryptocurrencies due to Solana being down by 8.85% in the last seven days.

The surge in SOL brought the digital asset to its highest point in two years, reaching levels last observed in April 2022 which was three months after the culmination of the bull cycle in 2021.However, it dropped slightly and landed on the fifth slot, with BNB regaining dominance shortly after on March 4.

Market cap: $0.1294

Dogecoin is a dog-inspired crypto and the original meme token. True to its fame, it has been one of the most highly volatile yet rewarding investments. As of May 2, 2024, DOGE is up by 4.56% in the last 24 hours and is trading at $0.1295.

Over the years, this meme coin has been criticized for offering a small-scale real-world utility, a centralized holder base, and an unlimited supply. However, it is tricky to debate these criticisms; DOGE has gained ground in network usage over the past year, as it has been up by around 65.35%. On top of that, its tough to deny the gigantic community support with the support of industry-notable celebrities such as Elon Musk. I think this crypto is here to stay for a very long time.

Market cap: $8.94 billion

Cosmos (ATOM-USD) is in charge of solving some slow transactions and high-cost problems. It emerged with Tendermint (software) to create an interconnected network of blockchains. ATOMa native token of Cosmos, is a decentralized network that provides developers with open-source tools to create their own interoperable blockchains. Cosmos is working to become the internet for blockchain.

The Cosmos ecosystem permits blockchains to willingly share tokens and data across all the blockchains in the system. One of its essential roles is to secure the Cosmos Hub and regulate the network of the ATOM tokens obtained via a proof-of-stake algorithm.

A recent report by the Cosmos blog focuses on the steadiness of Inter-Blockchain Communication (IBC) volume and close connections that assure high diversity in tokens and, in turn, higher liquidity. The interchain ecosystem is an area where blockchains act as joined blocks that communicate via the IBC protocol, where developers can run their rare chains as different blocks with different practicality.

Market cap: $2.53 billion

Kaspa cryptocurrency was launched in the year 2021 with its implementation of the GHOSTDAG protocol, working on blockDAG for fast confirmation and high block rates. The Kaspa community projects it as a cryptocurrency that unfolds the blockchain trilemma which will stabilize security, speed and scalability. In the year 2023, this project encountered transformational developments including the switch to state-of-the-art ASIC miners.

In addition, Kaspa had planned listings on exchanges and launched ideas like the Kaspium mobile wallet and Wrapped Kaspa. It has very aspiring plans for the time ahead including sophisticated smart contract functionalities, Rusy Kaspa Testnet 11 public and exceeding ten blocks per second.

Market cap: $3.92 billion

Stellar (XL,-USD) is a decentralized, public blockchain that presents developers with tools to create experiences that are more likely cash than crypto. It can be a great altcoin to add to your investment portfolio in this bull run given its accountability for peer-to-peer connecting the worlds financial system.

The biggest aim of Stellar is to make money move easily and fast. The network is cheaper, faster and more energy-efficient than most systems based on blockchain. Lumens behave as mediators for transactions and keep a smooth running system. Its strength is its security. With XLM holders holding the keys, it makes the network more secure for transactions.

Stellar has lately launched some very amazing features such as Soroban and spread Lumens into positive projects through its Community Fund. Additionally, through the compassionate side of the project via Stellar Aid Assist, it has already helped those in need by sending over $2 million to them.

Note: The market capitalization is taken from CoinMarketCap as of May 2, 2024.

Market Demand: Altcoins are initially driven by market demands. Investors are more likely to invest in altcoins that have a higher growth potential. Factors that contribute to the market demand for altcoin are consumer sentiments, market trends and investors confidence.

Regulatory Policy: The regulatory policies that can play a very important role in the development and growth of altcoins. Regulatory bodies or governments can impose restrictions on the usage of cryptocurrency, which definitely affects the demand for it.

Technology: The primary or basic technology behind an altcoin is also a factor that affects its growth and development. Altcoins that have unique features or innovative technology are more likely to gain popularity among others.

Competition: Competition is huge in the world of the cryptocurrency market and it can also affect the growth and development of altcoins. Altcoins offering similar features might struggle to gain market share.

Economic Conditions: It is another factor that can affect the altcoins growth and development. For instance, in times of economic uncertainty, investors are more likely to invest in altcoins as an economic instability or hedge against inflation.

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Support strategies by avoiding decisions made with emotions involved and create an effective investment plan that involves target prices for entry and exit. You must stay abreast of market events and news but also limit your social media consumption which many times encourages greedy behavior. Let us see altcoin investment strategies for the next bull run.

Risk management is the initial step every trader needs to think and learn while strategizing their investment plans, but it is the step that is generally overlooked until its very late. Investors need to manage risk productively by calculating how much is affordable to risk on an all-inclusive investment and then stick to it by using a stop-loss order to limit losses when the market is not in your favor.

As we are aware that the crypto market is highly unpredictable and volatile. It is highly recommended to steer clear of the temptation to spring into buying on the very first sign of a rally with all your savings. Carefully evaluate how much youre willing to invest in other cryptocurrencies like Bitcoin and Ethereum and also in altcoins.

While investing in altcoins, you may benefit by considering industries that have high potential and divide your portfolio between them. For example, 30% to Real World Assets, 20% to AI, 10% to Layer-2s etc. Then consider rupee-cost averaging into your position in order to benefit from any dips.

One of the major errors in investing is not being aware of when to take profits. This is accurate, especially for crypto, where the market is highly volatile and driven by social media, overnight sensations, emotion and greed. As prices increase, set realistic targets for gaining profits and cling to them. A well-disciplined approach to profit targets can protect you from unexpected market downturns.

If you have no clue where you want to exit, then scaling out is the best strategy by using rupee-cost averaging to sell. For example, sell 25% altcoin at price points 1 and 2 each, etc. This will help assure you take profits while still benefiting from further upside.

Many investors look to altcoin for higher risk-reward assets while considering BTC and ETH as blue-chip cryptocurrencies. Given the high risk of altcoins, investors should consider restricting them to a mini portion of their portfolio. The reward opportunity is higher. So, investors still have the potential for fair gains without over-granting and exposing them to excessive downside.

Remember that any gains can be temporary and many altcoins are not fit for long-term buy-and-hold portfolios. The majority of altcoins usually fall out of favor between market cycles and downturns of 95%.

This means its crucial to have a logical exit strategy with your targeted price set before you enter the trade. So, if investors want to consider a portfolio with altcoins then settle it with a mixture of high-cap cryptos and altcoins to ease volatility.

Its a very bad decision to invest based on hype or fear of missing out (FOMO). Cryptocurrency is a unique asset class because every transaction is recorded on a chain for public display. It means you have enough information and tools available to help you make informed decisions, instead of having to shift through the tea leaves like in many other markets.

Below are a few free tools you can use:

Use the above tools to conduct thorough research into a projects fundamentals, market position and team. You can also do this by conducting a strengths, weaknesses, opportunities and threats (SWOT) analysis. Always challenge your thesis and look for reasons why a project will crash, rather than information that confirms your existing bias.

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Originally posted here:
6 Altcoins To Consider Buying For The Next Bull Run In 2024 - Forbes