Author: Defx Intern

In an exciting development for the Web3 space, the United Arab Emirates Ministry of Energy and Infrastructure has announced a partnership with Shiba Inu to drive innovation in energy, infrastructure, and other key areas. This collaboration aims to leverage Web3 technologies to enhance public service efficiency and explore new possibilities.

The UAE has been at the forefront of embracing emerging technologies, and this partnership with Shiba Inu showcases their commitment to staying ahead of the curve. By harnessing the power of Web3, the UAE MOEI seeks to streamline processes, improve transparency, and deliver enhanced services to its citizens.

The implications of this partnership are significant for both the UAE and the broader Web3 ecosystem. Shiba Inu, with its strong community and innovative approach, brings valuable expertise to the table. The collaboration is expected to yield cutting-edge solutions that can be replicated and scaled across various sectors.

From a market perspective, this news highlights the growing mainstream adoption of Web3 technologies. As more government entities and traditional industries recognize the potential of Web3, it serves as a strong validation of the technology’s real-world applications. This partnership could pave the way for increased investment and development in the Web3 space.

While the specific details of the projects and initiatives under this partnership are yet to be disclosed, the announcement has generated significant buzz in the crypto community. Shiba Inu’s involvement in such a high-profile collaboration showcases the project’s credibility and potential.

As the UAE continues to embrace Web3 and explore its possibilities, this partnership with Shiba Inu sets a promising precedent. It demonstrates the willingness of forward-thinking governments to collaborate with blockchain projects to drive innovation and improve public services.

Tags: UAE Web3 Partnership, Shiba Inu Collaboration, Government Blockchain Adoption, Web3 Innovation, Public Service Efficiency

Source: https://news.bitcoin.com/uae-ministry-partners-with-shiba-inu-to-drive-web3-innovation/

Chainlink, the decentralized oracle network, has witnessed a surge in whale activity, with the Whale Transaction Count reaching its highest level since 2023. This spike in large transactions, typically associated with whale entities, suggests that increased volatility may be on the horizon for the LINK token.

The recent surge in Chainlink’s Whale Transaction Count coincides with a significant price drop, indicating that whales have been actively trading amidst the market turbulence. On-chain analytics firm Santiment notes that this heightened activity from large traders could lead to further price fluctuations in the near future.

While the direction of the potential volatility remains uncertain, as the Whale Transaction Count does not reveal whether buying or selling is dominant, the timing of the spike following a price crash could be a positive sign. Santiment suggests keeping a close eye on Chainlink when altcoins begin to rebound.

Chainlink is not alone in experiencing increased whale activity. Other notable altcoins, such as Dai (DAI) on the BNB blockchain and Floki (FLOKI), have also seen significant jumps in their Whale Transaction Counts over the past week.

As the crypto market continues to navigate uncertainty, the elevated whale activity in Chainlink and other altcoins may provide valuable insights into potential price movements and market sentiment. Traders and investors should monitor these developments closely to make informed decisions in the dynamic cryptocurrency landscape.

Tags: Chainlink, LINK, Whale Activity, Altcoins, Crypto Market

Source: https://www.newsbtc.com/chainlink-news/chainlink-highest-whale-2023-price-reversal/

In a recent crackdown on unregistered crypto operations, Indian authorities have imposed a major fine on crypto exchange Bybit and blocked its website for violating anti-money laundering (AML) laws. The Financial Intelligence Unit-India (FIU-IND) under the Ministry of Finance took action against Bybit as part of their ongoing efforts to regulate the crypto industry in the country.

This move by Indian regulators highlights the increasing scrutiny faced by crypto exchanges operating without proper registration and compliance with local laws. The penalty imposed on Bybit serves as a strong warning to other unregistered exchanges that may be violating AML regulations.

The blocking of Bybit’s website in India is likely to have a significant impact on its user base and trading volumes in the country. Indian users may now have to look for alternative platforms that are compliant with local regulations to continue trading cryptocurrencies.

This development underscores the importance of regulatory compliance for crypto businesses operating in India. As the government continues to formulate a comprehensive regulatory framework for cryptocurrencies, exchanges will need to proactively engage with authorities and ensure adherence to AML and other applicable laws to avoid penalties and disruptions to their services.

Moving forward, the Indian crypto market may witness a shift towards regulated and compliant exchanges, as users prioritize safety and legitimacy of the platforms they use. Exchanges that can successfully navigate the evolving regulatory landscape and maintain high standards of compliance are likely to gain a competitive edge in the Indian market.

Tags: Bybit, India, Crypto Exchange, AML, Regulatory Compliance

Source: https://news.bitcoin.com/india-strikes-crypto-exchange-bybit-major-fine-issued-website-blocked/

A significant on-chain movement of 49,700 Bitcoin from the 6-12 month age band has recently occurred, as reported by CryptoQuant contributor XBTManager. This substantial shift in dormant Bitcoin holdings could potentially impact the market in the coming days.

Historically, large movements of long-held Bitcoin can create temporary selling pressure, leading to short-term price drops and causing panic among retail investors. However, this downward trend can also set the stage for a rebound, as buyers absorb the new supply and prices recover.

XBTManager warns that a large portion of these Bitcoins may be sold in the coming days, potentially creating selling pressure and enabling market manipulation. Investors should remain cautious about potential market fluctuations.

Bitcoin’s recent price performance has been a rollercoaster, with the asset trading below $90,000 earlier this week before bouncing back above $100,000. As of today, BTC hovers around $98,000, down roughly 10% from its all-time high of $109,000 in January. Despite the recent price decline, Bitcoin’s daily trading volume has increased from below $40 billion last week to above $58 billion today.

The movement of dormant Bitcoin could further contribute to the current market volatility. Investors should closely monitor the situation and be prepared for potential price fluctuations in the short term. As always, it is essential to conduct thorough research and exercise caution when making investment decisions in the crypto market.

Tags: Bitcoin, On-chain Analysis, Market Volatility, Investor Sentiment, Crypto Market

Source: https://www.newsbtc.com/bitcoin-news/49700-dormant-bitcoin-just-moved-whats-next-for-btcs-price/

Dogecoin (DOGE) has recently started a recovery wave, attempting to bounce back from its recent decline. After falling over 25% and testing the $0.20 support level, DOGE is now facing resistance as it tries to reclaim lost ground.

The popular meme coin is currently trading below the $0.278 level and the 100-hourly simple moving average. It faces immediate resistance near the $0.26 level, with a major bearish trend line forming on the hourly chart. If DOGE manages to clear the $0.26 and $0.27 resistance levels, it could potentially extend its recovery toward $0.30 or even $0.342.

However, if Dogecoin fails to break above the $0.27 mark, it risks another decline. The key support levels to watch are $0.242 and $0.225. A drop below the crucial $0.22 support could send DOGE tumbling toward $0.202 or even $0.20 in the near term.

The current market sentiment for Dogecoin remains cautious, with investors closely monitoring its ability to overcome resistance levels. The outcome of this recovery attempt could have significant implications for DOGE’s short-term price action and overall market sentiment.

As always, traders and investors should exercise caution and conduct thorough research before making any investment decisions. Keep a close eye on key support and resistance levels, and stay informed about the latest developments in the cryptocurrency market.

Tags: Dogecoin, DOGE, crypto market, price analysis, trading

Source: https://www.newsbtc.com/analysis/doge/dogecoin-doge-attempts-comeback-0-270/

In a move to tighten its grip on the cryptocurrency mining industry, Russia has introduced new regulations requiring miners to report their earnings to the Federal Tax Service (FNS) by the 20th of each month. The law, which came into effect on February 3, 2025, restricts mining activities to approved entities and bars those with a history of financial crimes from participating.

This development marks a significant shift in Russia’s approach to crypto mining oversight. By demanding monthly earnings reports, the government aims to increase transparency and prevent illegal activities within the industry. The move is expected to reshape the mining landscape in Russia, with only compliant entities being allowed to operate.

The market implications of this new law are notable. Legitimate mining operations in Russia may face increased compliance costs and regulatory burdens. However, the long-term impact could be positive, as the industry gains more credibility and attracts institutional investors. On the other hand, the restrictions on mining participants with a history of financial crimes could limit the pool of available miners and potentially impact the overall hash rate coming from the region.

As Russia tightens its control over the crypto mining sector, it remains to be seen how the industry will adapt and evolve. Mining companies operating in the country will need to navigate the new regulatory landscape carefully to ensure compliance and avoid penalties. The increased oversight may also prompt some miners to relocate to jurisdictions with more favorable regulations.

Tags: Russia crypto mining, crypto mining regulations, crypto earnings reports, mining oversight

Source: https://news.bitcoin.com/russia-enforces-crypto-mining-oversight-miners-must-report-earnings/

The Dogecoin price has recently experienced a notable 34% correction, settling at $0.259. Despite this downturn, many analysts remain optimistic about the market’s largest memecoin potential for recovery, suggesting that the Dogecoin price could see new highs as the bullish cycle progresses.

Crypto analyst Dima Potts believes that if the current pullback stabilizes, the market could be poised to target all-time highs ranging between $1.50 and $2.10. Potts also noted a historical correlation in the Dogecoin price cycles, with each cycle peaking 1,442 days after the previous high. If this pattern holds true, the Dogecoin price could reach its next peak around the week of April 14th.

Potts further posited that growing adoption, increasing institutional interest, and ongoing technological improvements could bolster the Dogecoin price performance, potentially allowing it to exceed previous highs. His analysis suggests that the memecoin could even reach unprecedented levels above $400 per token, translating to a massive surge of 154,400% in the coming months.

However, not all analysts share this optimistic perspective. Technical analyst Grumlin has issued a cautionary note, predicting that the Dogecoin price may dip to the $0.02 level in the near term, representing a notable 92% crash for the memecoin. Despite this short-term bearish outlook, Grumlin believes that a rebound from an ascending support line is likely, which could set the stage for a subsequent upward breakout.

As Dogecoin currently trades at $0.259, with losses of 21% and 27% on the seven-day and fourteen-day time frames, respectively, investors are closely watching to see which scenario will unfold. If Potts’ bullish predictions come to fruition, Dogecoin could be on the verge of a monumental price surge. However, if Grumlin’s cautionary outlook proves accurate, the memecoin may face further short-term losses before any potential rebound.

Tags: Dogecoin price prediction, DOGE price analysis, cryptocurrency market, memecoin trends, altcoin forecasts

Source: https://www.newsbtc.com/dogecoin-2/expert-predicts-dogecoin-price-recovery-targeting-new-heights-between-1-5-and-2/

In a recent development, Korea Financial Investment Association (Kofia) Chairman Seo Yoo-seok has urged the approval of cryptocurrency spot exchange-traded funds (ETFs) and the formal recognition of security tokens in South Korea. This move comes as the country aims to maintain its competitive position in the rapidly evolving global crypto landscape, particularly in light of the pro-crypto policies implemented by the U.S. under President Donald Trump’s administration.

The push for crypto ETFs in South Korea is driven by the desire to keep pace with other nations, such as the United States, where the Securities and Exchange Commission (SEC) has already approved Bitcoin and Ethereum spot ETFs. By following suit, South Korea hopes to enhance market transparency, attract greater institutional participation, and solidify its role as a leader in digital asset adoption.

Moreover, the approval of cryptocurrency ETFs is seen as a way to provide a testing ground for both millennials and older generations interested in investing in virtual assets. By offering a regulated and globally recognized investment vehicle, such as Bitcoin and Ethereum ETFs, investors can participate in the crypto market with greater comfort and peace of mind.

The call for cryptocurrency ETFs aligns with a broader push to institutionalize security tokens in South Korea. Kofia plans to engage with financial regulators this year, advocating for the inclusion of Bitcoin and Ethereum spot ETFs within the nation’s financial framework. This move could potentially attract greater institutional investment, enhance liquidity, and promote a more robust digital asset ecosystem.

As South Korea navigates the evolving crypto landscape, the approval of cryptocurrency ETFs and the recognition of security tokens could play a crucial role in the country’s financial future. With the potential for increased institutional participation and a more regulated investment environment, South Korea aims to solidify its position as a key player in the global crypto market.

Tags: South Korea crypto, crypto ETFs, security tokens, institutional investors, crypto regulation

Source: https://bitcoinist.com/south-koreas-approval-crypto-etfs-whats-at-stake/

XRP price has been facing challenges in sustaining its upward momentum above the crucial $2.60 resistance level. Despite starting a strong recovery wave above the $2.00 support zone, the price has struggled to keep pace with other major cryptocurrencies like Bitcoin and Ethereum.

The bulls managed to push the price above the $2.60 level, but the bears remained active near the $2.75 zone, causing the price to dip. The XRP/USD pair is now trading below the $2.60 level and the 100-hourly Simple Moving Average, with a bearish trend line forming resistance at $2.60 on the hourly chart.

If XRP fails to clear the $2.60 resistance zone, it could potentially start another decline. The initial support on the downside is near the $2.260 level, followed by the $2.150 level. A downside break and close below the $2.150 level might lead to a further decline toward the $2.050 and $2.00 support zones.

On the other hand, if the price manages to clear the $2.60 resistance, it could start a fresh increase. The next major resistance levels to watch out for are $2.70, $2.780, and potentially even $2.940. Any further gains might send the price toward the psychological $3.000 resistance or even $3.050 in the near term.

The technical indicators suggest that the MACD for XRP/USD is gaining pace in the bearish zone, while the RSI is currently below the 50 level. These indicators hint at a potential bearish momentum in the short term.

In conclusion, XRP price is at a critical juncture, and its ability to overcome the $2.60 resistance will be crucial in determining its future trajectory. Traders and investors should keep a close eye on the key support and resistance levels to navigate the market effectively.

Tags: XRP price, XRP/USD, Ripple, cryptocurrency market, technical analysis

Source: https://www.newsbtc.com/analysis/xrp/xrp-price-struggles-2-70/

Standard Chartered’s head of digital assets research, Geoffrey Kendrick, has shared a bold 5-year forecast for Bitcoin, predicting the cryptocurrency could reach a staggering $500,000 by the end of 2028. The projection is based on expectations of rising institutional inflows, declining volatility, and regulatory shifts under the Trump administration that could expand investor access to the asset class.

The potential for Bitcoin to hit such lofty heights is tied to several key factors. First, increased institutional adoption and inflows could provide a significant boost to demand and liquidity. As more large investors and financial institutions allocate funds to Bitcoin, the market could see a sustained upward trajectory. Additionally, if volatility continues to decline as the market matures, it could make Bitcoin a more attractive and stable investment option.

Perhaps most importantly, the regulatory landscape under President Trump could play a pivotal role in Bitcoin’s future. If the administration takes a more favorable stance towards cryptocurrencies and introduces policies that facilitate wider investor access, such as approving Bitcoin ETFs, it could open the floodgates for mainstream adoption. This, in turn, could drive prices to new all-time highs.

However, it’s important to note that such projections are highly speculative and subject to numerous risks and uncertainties. The cryptocurrency market remains highly volatile and sensitive to regulatory developments, and there’s no guarantee that the stars will align for Bitcoin to reach $500,000 within the next five years. Nevertheless, Standard Chartered’s forecast provides an intriguing glimpse into one potential scenario for Bitcoin’s future, and highlights the growing institutional interest and optimism surrounding the world’s largest cryptocurrency.

Tags: Bitcoin price prediction, Standard Chartered, institutional adoption, crypto regulations, Bitcoin ETFs

Source: https://news.bitcoin.com/standard-chartered-shares-5-year-bitcoin-forecast-sees-btc-at-500k-by-2028/