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Cash

Bitcoin Cash Breaks Out, Cardano Breaks Down as Crypto Traders Hold Breath on Fed: Analysis

by admin June 25, 2025

In brief

Bitcoin Cash (BCH) rallies 6% with strong buying pressure and positive momentum indicators.
Cardano (ADA) slides 3.5% below key moving averages with bearish signs all around.
Fed is holding rates steady, and crypto traders eagerly await clearer monetary policy direction.

The effects of the ceasefire between Israel and Iran seems to have already been digested by traders as markets today cool down after big jumps earlier this week. Only two coins (Pi and Maple Finance) are up more than 10% with the average price appreciation in the top 100 coins by market cap being around 2%, and the average dip around that mark too.

But crypto traders are pushing upwards: total cryptocurrency market cap across the sector is up to $3.283 trillion, a modest 0.81% daily increase.

Traditional markets also remained relatively stable with the S&P 500 rising slightly to 6,097 points, gaining 0.07% from the previous session. The Federal Reserve’s decision to maintain interest rates at 4.25%-4.5% continues to create a wait-and-see environment, with Fed Chair Jerome Powell stating the central bank is “well positioned to wait” for more economic clarity. Looking ahead, traders on Myriad—a prediction market developed by Decrypt’s parent company Dastan—currently believe the Nasdaq will outperform the S&P 500 in the month of June.

Meanwhile, some coins are—as usual—doing better than others today, with Bitcoin Cash and Cardano traders making moves—perhaps with the urge to feel something on an otherwise boring markets day.

Bitcoin Cash (BCH) breaking out

Bitcoin Cash trading data. Image: TradingView

Bitcoin Cash, the original fork of the original Bitcoin, demonstrated its strength today, surging approximately 6% to $481.30 as it successfully breached the critical $470 resistance level that had capped prices throughout most of the month. This breakout came with substantial trading volume and multiple bullish technical confirmations.

The Relative Strength Index, or RSI, sits at a healthy 61, indicating strong bullish momentum without reaching overbought territory. This reading suggests buyers are in control, but there’s still room for further upside before hitting the typical 70+ overbought threshold where profit-taking often occurs. The RSI measures the speed and magnitude of price changes, and readings between 50-70 are generally considered bullish momentum zones.

The Average Directional Index, or ADX, reads 20, just below the crucial 25 threshold that confirms established trend strength. While this indicates the trend is weak and still developing rather than fully established, the rising trajectory suggests momentum is building toward a more decisive breakout. The ADX measures trend strength regardless of direction—readings above 25 typically signal strong trending conditions that traders often follow.

Moving Average Configuration: BCH is trading well above both its 50-day EMA (around $385) and 200-day EMA (near $352), creating a widening gap known as the “moving average divergence.” This growing separation signals a strong, sustained trend. The 50-day EMA, averaging prices over roughly 2.5 months, often acts as dynamic support in an uptrend, while the 200-day EMA reflects the broader market direction. With the 50-day EMA above the 200-day, short-term momentum is outpacing the longer-term trend—recent buyers are paying significantly more than those who entered 200 days ago, and the expanding distance between the two lines suggests that buying pressure remains intense.

The Squeeze Momentum Indicator shows “ON” status with an upward trajectory, suggesting price compression is being released to the upside. This indicator identifies periods when volatility contracts before major moves—the “ON” reading indicates the squeeze is active and momentum is building. This is not definitive, but suggest caution, either with a strong price break in a positive direction, or a heavy correction to come.

Overall, BCH is going up, but it’s possible that traders interpret its current zone as a tough one with indicators giving mixed signals.

Key Levels:

Immediate support: $460-$470 (recent breakout zone now becomes support)
Strong support: $385 (50-day EMA)
Immediate resistance: $500 (psychological level and next major barrier)
Strong resistance: $540 (measured move target from recent consolidation)

Cardano (ADA) breaks down

Are Cardano dudes even into Cardano anymore? During his most recent livestream, Cardano founder Charles Hoskinson proposed the Cardano Treasury get rid of nearly $100 million worth of ADA to buy a basket of stablecoins alongside Bitcoin and other synthetic assets.

Take this however you want. This is either a good sign for the network, as it helps increase DeFi liquidity and further decentralize the structure for long-term ecosystem growth, or the team doesn’t want the risk of hodling a coin that has not had a true bullish cycle since 2021.

Cardano (ADA) trading data. Image: TradingView

During the last 24 hours, markets seem to have taken the news with bitterness. ADA experienced a stark 3.5% drop to $0.5669 as multiple technical indicators flashed bearish signals.

The price action suggests ADA is struggling to maintain key support levels amid broader altcoin weakness.

Cardano (ADA) trading data. Image: TradingView

The RSI has dropped to 35, approaching oversold territory below 30 but not yet there. This reading indicates selling pressure is intensifying, and while oversold conditions could eventually trigger a relief bounce, the downward momentum suggests more weakness may be ahead. RSI readings below 40 often indicate bearish momentum, especially when accompanied by other negative signals.

The ADX registers 26, confirming a strong trend is in place. However, with the price declining, this strong ADX reading actually confirms the bearish trend’s strength rather than supporting a bullish case. This is why technical analysts always examine ADX alongside price direction—a high ADX with falling prices indicates strong downward momentum.

ADA trades below both its 50-day and 200-day EMAs, with the indicators showing a concerning pattern. The price trading below both moving averages suggests the trend has shifted bearish across multiple timeframes. When shorter-term averages fall below longer-term ones, it typically indicates sustained selling pressure and loss of investor confidence.

The Squeeze Momentum Indicator shows “OFF” status with negative momentum, indicating recent volatility has been released to the downside and further compression may be limited. This often translates to continued directional movement—in this case, potentially more downside.

Key Levels:

Immediate support: $0.5500 (psychological level and potential bounce zone)
Strong support: $0.5000 (major psychological level)
Immediate resistance: $0.5900 (must reclaim to signal recovery)
Strong resistance: $0.6400 (50-day EMA area that would indicate trend reversal)

Disclaimer

The views and opinions expressed by the author are for informational purposes only and do not constitute financial, investment, or other advice.

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June 25, 2025 0 comments

GameFi Guides

Vitalik Buterin Confirms Ethereum Foundation Support for Tornado Cash Cofounder

by admin June 25, 2025

Ethereum (ETH) cofounder Vitalik Buterin has confirmed that the Ethereum Foundation, a nonprofit organization that supports projects related to the blockchain, is involved in fundraising for Roman Storm. Buterin announced this in a post on his X handle to the cryptocurrency community.

Ethereum Foundation steps in as legal battle approaches

According to Buterin, the Ethereum Foundation is currently “matching donations” toward the legal defense of Storm, the Tornado Cash cofounder. Notably, Storm is currently facing legal issues in the U.S., including charges related to money laundering and sanctions violations.

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For context, Storm’s legal case is controversial in the crypto world. Many in the Ethereum and broader community view it as a threat. They consider the legal case a way to suppress “open-source” development and financial privacy tools.

The U.S. government sanctioned Tornado Cash in 2022 for allegedly using different parts of its supply chain to support nefarious activities. According to the allegations, Tornado Cash assisted North Korea in laundering some funds stolen from Axie Infinity.

Understandably, prominent figures in the crypto community are supporting his defense by contributing to cover his legal fees. Buterin, in his recent post, has now confirmed that for every donation made to the cause, the Ethereum Foundation will match it.

This move could go a long way toward ensuring that Storm gets the proper representation when his case goes to court. According to Roman Storm’s notice, willing donors have 19 days left to send their donations for his legal defense fund.

U.S. Treasury sanction reversal adds hope to Storm’s defense

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Interestingly, the U.S. Treasury Department finally lifted the sanctions on Tornado Cash in March 2025. Many in the DeFi community have hailed this as a significant win for the decentralized finance sector in the U.S. Some believe this might even help Storm’s case in court.

Buterin’s current effort through the Ethereum Foundation to match donations made toward Storm’s defense is a way to ensure that the crypto developer gets the best legal team.

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June 25, 2025 0 comments

Japan’s central bank eyes crypto as contender in its post-cash economy

GameFi Guides

Japan wants a post cash economy: Is crypto the answer?

by admin June 23, 2025

Bank of Japan officials are beginning to acknowledge what once seemed outlandish: that cryptocurrencies could one day become a major part of everyday payments in Japan—and perhaps even challenge the yen itself.

While they stress that such a shift won’t happen overnight, the notion that digital assets could reshape the country’s payment landscape is no longer mere speculation; it’s increasingly being treated as a plausible scenario.

At a recent meeting with private-sector partners involved in the BOJ’s central bank digital currency pilot, Executive Director Kazushige Kamiyama said that while Japan still sees high levels of banknote issuance, “usage of notes could fall significantly in the future amid rapid digitalisation.”

Changes in the breakdown of the cashless payment amount and cashless payment ratios by numerator | Source: Japan’s Ministry of Economy, Trade and Industry

It was a nod to what’s becoming increasingly difficult to ignore lately. The country once known for clinging to paper yen has been shifting fast. Government data showed cashless payments jumped to 42.8% of all transactions in 2024, nearly tripling from just over 13% in 2010. Japan even hit its official 40% target a year ahead of schedule.

The Bank of Japan isn’t making any promises just yet. It hasn’t decided whether it’ll actually roll out a digital yen — basically its version of a central bank digital currency — but the pilot program that kicked off in 2023 is now running at full speed.

While BOJ officials aren’t embracing crypto as a replacement for fiat, their growing support for a digital yen suggests they see decentralized assets as a serious contender in the payments space.

Kamiyama says the BOJ needs to consider how to keep the retail payments system “convenient, efficient, accessible universally, while being safe and resilient.” That’s where things get more speculative.

Future where crypto wins

Speaking over the weekend, BOJ Deputy Governor Shinichi Uchida suggested something rarely said aloud by a central banker in Japan: if the BOJ fails in its core duty — price stability — people might stop trusting the yen. And in that case, he warned, another instrument could step in.

In a digitally advanced society, Uchida said, there is “no guarantee that currency issued by the central bank of a sovereign nation will continue to function as a generally acceptable payment instrument.” Although he didn’t drop any names, but he did suggest that cryptocurrencies and stablecoins might eventually step in to fill the gap.

Still, Uchida was careful to say he doesn’t expect cash to disappear “any time soon,” but the fact that he raised the prospect of crypto overtaking the yen — hypothetically or not — says a lot about how the conversation is shifting in central bank circles.

Where things stand now

As of mid-2025, Japan’s economy remains fragile. Inflation has been volatile, hovering just above 2% in recent months. Growth is slow, and the BOJ is still navigating the long tail of post-pandemic stimulus policies.

In that environment, digital payments have gained ground, not just through CBDC discussions, but in the real economy. Local surveys suggest younger consumers are increasingly turning to mobile apps and QR code systems. Crypto use is still modest compared to South Korea or the U.S., but it’s growing.

Trading volume of number of Japanese crypto accounts | Source: Bitbank Ventures

According to a report from Bitbank Ventures, there are over seven million active crypto accounts in Japan as of December 2024, up from five million in early 2024. Bitcoin (BTC) and Ethereum (ETH) remain the most commonly held, but stablecoins pegged to the yen or dollar are also gaining traction in cross-border commerce and remittances.

And then there’s regulation. Japan has long had some of the tightest crypto rules in the world. But lately, regulators have shown more flexibility, especially when it comes to stablecoins and their role in payment infrastructure.

The CBDC question

Even as crypto adoption rises, the BOJ is still very much focused on its own digital offering. The CBDC pilot is still in its active phase, involving tests with major Japanese banks like MUFG, SMBC, Mizuho, along with regional banks and fintech firms.

And while the digital yen isn’t live yet — and there’s still no official launch date — BOJ officials have been speaking out more about why it matters and the role it could play in Japan’s future economy. Uchida called the CBDC a “critical piece of infrastructure” that could help maintain public trust in the yen. Still, he emphasized that demand for cash will likely remain strong. At least in the near term.

Globally, the race is also heating up. The European Central Bank is doubling down on plans for a digital euro. And in the U.S., President Donald Trump’s executive order banning a digital dollar has expectedly pushed the debate forward — by politicizing it. His move, seen by some as an endorsement of crypto and stablecoins, is prompting other central banks to act faster.

For instance, as crypto.news reported earlier, JPMorgan Chase, Bank of America and other major banks are reportedly exploring a shared stablecoin to keep pace with rising competition. One idea reportedly being discussed is to let other banks use the stablecoin. Some regional and community banks have reportedly also explored a separate stablecoin consortium, though details remain unclear.

Japan may not be rushing. But it’s clearly preparing. And that preparation now includes at least entertaining the idea that crypto could become more than just a fringe asset.

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June 23, 2025 0 comments

Crypto Trends

Ethereum Wins Big In ETF Race As Institutional Cash Pours In

by admin June 14, 2025

Trusted Editorial content, reviewed by leading industry experts and seasoned editors. Ad Disclosure

US spot Ethereum ETFs have attracted a surge of new capital this week, drawing in 154,000 ETH over the last seven days—about five times their recent weekly average. By contrast, Bitcoin funds managed just 7,800 BTC in the same period.

That gap points to growing interest in Ethereum’s broader uses, from DeFi to staking rewards, as big investors rethink their crypto allocations.

Rising ETF Inflows Point To Shifting Bets

Based on reports, June 11 was a standout day for Ethereum. Spot ETFs pulled in a record 77,000 ETH in a single session, marking the highest daily total for the token so far this month.

Investors are watching as the price edges closer to the $3,000 mark. A push past that level could spur more buying, especially if inflows stay strong.

$ETH spot ETFs are heating up. This week alone, they’ve seen 154K #ETH in inflows – 5x higher than their recent weekly average. For context: the biggest single-day $ETH inflow this month was 77K #ETH on June 11th. pic.twitter.com/8Xlerbc6GX

— glassnode (@glassnode) June 13, 2025

Ethereum Staking Adds Appeal

Another factor at play is staking. Holders can lock up ETH to help secure the network and earn rewards. Word is spreading that some ETFs may soon offer staking‑enabled shares.

That setup could make Ethereum products more attractive than Bitcoin funds, where staking isn’t an option. Yield‑hungry buyers may find that extra boost hard to resist.

Ethereum’s second‑layer solutions are also drawing attention. Protocols like Optimism and Arbitrum are cutting fees and speeding up transactions. That improvement is pulling more developers and users into the fold.

As these rollups gain steam, the network’s real‑world usability keeps climbing. For portfolio managers, that growing ecosystem can look like a strong reason to back ETH.

ETH is now trading at $2,533. Chart: TradingView

Bitcoin Flows Lag Behind

Bitcoin still dominates in total ETF assets, but inflows have been flat lately. The 7,800 BTC added this week barely tops the week’s usual figure and falls short of May 23’s one‑day high of 7,900 BTC.

In early June, some funds even saw redemptions, making flows jump around from day to day. That volatility may be pushing some institutions to explore alternatives.

Image: SKapl/iStockphoto/Getty Images

Analysts point out that investors are hunting for tokens with real‑world uses and upside potential. Ethereum’s role in decentralized finance, non‑fungible tokens and smart contracts gives it a multi‑purpose edge.

Bitcoin’s draw as a store of value still matters, but that single use case may feel limited compared with ETH’s broader toolkit. If ETF momentum stays with Ethereum, we could see more money rotate in its direction.

Featured image from Unsplash, chart from TradingView

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June 14, 2025 0 comments

NFT Gaming

Ethereum Foundation Donates $500,000 To Tornado Cash Co-Founder’s Legal Defense

by admin June 14, 2025

Trusted Editorial content, reviewed by leading industry experts and seasoned editors. Ad Disclosure

The Ethereum Foundation (EF) has announced that it will be contributing $500,000 to the legal defense of Tornado Cash co-founder and developer Roman Storm. Storm faces three charges in the upcoming trial related to operating a crypto mixer in the United States.

‘Privacy Is Normal, And Writing Code Is Not A Crime’ – EF

In a June 13 post on the X platform, the Ethereum Foundation disclosed that it would donate $500,000 to Storm’s defense in the upcoming court trial. In addition to the significant contribution, the foundation intends to match up to an extra $750,000 in donations from the crypto community.

This Ethereum Foundation’s announcement comes about a month before the beginning of the trial, which would see Storm battle charges including conspiracy to commit money laundering, conspiracy to violate US sanctions, and conspiracy to operate an unlicensed money-transmitting business. If found guilty of all these charges, the crypto mixer co-founder faces a prison sentence of up to 45 years.

While Storm’s legal defense team has tried to get these charges dismissed in court, his trial is set to begin in New York on Monday, July 14. For his defense, the Tornado Cash developer is looking to raise about $2 million.

The Ethereum Foundation wrote in the post on X:

Privacy is normal, and writing code is not a crime.

This statement touches on what has been a major talking point — privacy concerns — in the crypto community since Storm’s arrest in 2023 and other similar cases (the arrest of Telegram’s co-founder, Pavel Durov, in 2024). While the US prosecutors have declared intentions to drop the charge of operating an unlicensed money transmitting business, Storm has maintained his innocence throughout this legal battle.

Tornado Cash Co-Founder Speaks Out On Social Media

Earlier on Friday, Storm took to the social media platform X to appeal for the support of the crypto community, saying that the US judicial system is “trying to crush” him.

The crypto co-founder said:

If I lose, DeFi dies with me. The dream of financial freedom, the code I believed in—it all fades into darkness. I’m fighting, but the weight is unbearable. This isn’t just my end; it’s ours.

Storm also posted an appreciation message on X to the Ethereum Foundation for its $500,000 donation to his legal defense. “Your support means the world to me, especially standing up for privacy and the right to code. I’m so grateful to everyone chipping in—your generosity is truly inspiring! Thanks from the bottom of my heart,” the co-founder concluded.

The price of ETH on the daily timeframe | Source: ETHUSDT chart on TradingView

Featured image from Getty Images, chart from TradingView

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June 14, 2025 0 comments

GameFi Guides

Stellar (XLM) Dethrones Bitcoin Cash (BCH) in Market Shift

by admin June 8, 2025

In a fresh reshuffling of crypto market rankings, Stellar (XLM) has surpassed Bitcoin Cash (BCH) in market capitalization.

According to current market data, Stellar now has a larger market capitalization than Bitcoin hard fork, Bitcoin Cash. Stellar (XLM) is now the 16th largest cryptocurrency, with a market value of $8.4 billion, while Bitcoin Cash (BCH) is the 17th largest, with a market capitalization of $8.25 billion, according to CoinMarketCap data.

Crypto Rankings, Courtesy: CoinMarketCap

In positive news for Stellar (XLM), Nasdaq has reconstituted the Nasdaq Crypto U.S. Settlement Price Index, which currently serves as the benchmark index for the Hashdex Nasdaq Crypto Index U.S. ETF.

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As a result of the reconstitution, the Hashdex Nasdaq Crypto Index U.S. ETF now includes Stellar and three additional digital assets: Solana (SOL), Cardano (ADA) and XRP, in addition to Bitcoin (BTC) and Ethereum (ETH).

What comes next?

As Stellar takes its place above Bitcoin Cash, the market will be watching intently to see if XLM can maintain its position and continue climbing the ranks.

Stellar has made significant progress over the last year and appears to be well-positioned to capitalize on the surge in demand for blockchain-based financial infrastructure.

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Stellar continues to build quietly, having powered cross-border payments in over 70 countries and processed billions of transactions. Stellar has become the backbone for on-chain real-world assets (RWAs), with $17 billion in volume and $522 million currently on-chain, placing it among the top blockchains for tokenized financial assets. Ongoing optimizations are being made to Soroban, the Stellar smart contract platform, including concurrency, aggressive caching and ahead-of-time compilation.

Bitcoin Cash has maintained its position within the top 20 cryptocurrencies so far despite recent market volatility. A surge in buying demand might propel BCH higher in crypto market rankings, with eyes on what comes next.

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June 8, 2025 0 comments

Esports

NWSL OKs intraleague loans; Boston, Denver get more expansion cash

by admin June 5, 2025

Jeff KassoufJun 5, 2025, 12:19 PM ET
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The NWSL announced on Thursday that it will now allow intraleague loans for all teams, and that Boston and Denver franchises will have access to significantly more money to build their initial rosters as the first expansion teams to join the league since the new collective bargaining agreement eliminated drafts.

“I think it’s fair to say that we are trying more and more to align with our global counterparts,” Stephanie Lee, the NWSL’s VP of player affairs, told ESPN. “And I think in of itself, aligning with our global counterparts is part of the larger conversation of, ‘How do we be the best league in the world?'”

Boston Legacy FC and the yet-unnamed Denver expansion teams will bring the NWSL to 16 teams when they begin play next year.

The expansion teams will have access to up to $1,065,000 in allocation money beginning on July 1.

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The league will fund half of that automatically, and the rest will be funded out of pocket by each team at their discretion.

It’s a significant amount for two reasons: Allocation money is effectively player salary funding that exists outside the NWSL’s hard salary cap.

It is a rare and coveted asset that the NWSL previously said would be phased out of existence. Boston and Denver will need to use all funded allocation money by the end of 2027.

Lee acknowledge that “perhaps” this could set a precedent for future expansion teams, but she said that each round of expansion since the NWSL kicked off in 2013 has featured slightly different rules.

Boston and Denver will also be allowed to have an initial transfer threshold of $968,000 more than existing NWSL teams through summer 2026, allowing Boston and Denver to make more significant transfers as they build their rosters from scratch.

Boston and Denver will also have a limited salary cap of $250,000 to sign college players and out-of-contract international players from the start of the upcoming transfer window through the end of the year.

By comparison, the most recent round of NWSL expansion — Bay FC and Utah Royals FC in 2024 — received $500,000 in additional transfer threshold spending but also had an expansion draft to select players from other rosters.

The NWSL, as part of its single entity system with a salary cap, has a net transfer threshold for each team that limits their spending on the open market. (Each incoming transfer adds to the threshold while each outgoing transfer lowers it.)

Lee told ESPN that the league and its sporting committee, composed of select board members, calculated the increased dollar amounts awarded to Boston and Denver by analyzing past expansion drafts and looking at the value of picks that were traded, the salaries for those players, and what a comparable player might cost on the open market.

Intraleague loans will allow all 16 teams including Boston and Denver, which begin play in 2026 to loan players to other NWSL teams, which is common practice in other leagues globally.

Denver’s NWSL expansion team will be able to bring in players via intraleague loans. Courtesy Denver NWSL expansion group

It was not previously allowed in the NWSL. All players being loaned must consent to the move, which falls in line with the new CBA requirements that players must consent to all trades.

The new CBA also grants players full free agency. Lee worked for multiple NWSL clubs before joining the league full-time in 2022. She said she was unsure of why intraleague loans were not previously allowed, but that it was always a point of discussion.

Expansion served as “a catalyst” to implementing intra-league loans, Lee said. Multiple general managers in last year’s ESPN Anonymous GM Survey brought up the need for intraleague loans.

The NWSL’s most prominent and awkward workaround for the lack of intraleague loans happened around a previous round of expansion.

World Cup-winning American centerback Abby Dahlkemper was traded from the North Carolina Courage to the Houston Dash in August 2021 for what North Carolina officials called “a loan.”

Dahlkemper then joined incoming expansion side San Diego Wave FC three months later for what the NWSL classified as “a three-team trade.”

Houston even said in its November 2021 news release that the initial trade included a stipulation that Dahlkemper would join the Wave after the 2021 season — a complicated way of saying she was on loan.

The introduction of intraleague loans could, in addition to a forthcoming second division, help solve a longstanding NWSL problem around player development and a lack of opportunities.

Intraleague loans will also allow Boston and Denver to start signing players on July 1 in the crucial summer window in Europe and loan them out in the NWSL immediately.

Lee said one other thing the league considered was allowing Boston and Denver to sign players earlier than other NWSL teams, but they ultimately decided that it wasn’t much of an advantage.

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June 5, 2025 0 comments

GameFi Guides

Crypto ATM operators in Australia hit with cash limits and tougher compliance checks

by admin June 3, 2025

Australia has introduced new operating conditions and cash transaction limits for crypto ATM providers to curb scams and enhance anti-money laundering compliance.

In a June 3 press release, the Australian Transaction Reports and Analysis Centre (AUSTRAC) stated that crypto ATM operators must now implement a cash deposit and withdrawal cap of 5,000 Australian dollars (approximately $3,250).

Operators must also display scam warning messages at machines to alert users about potential fraud.

In addition, ATM providers are now required to conduct more thorough customer checks and enhance their transaction monitoring for suspicious activity.

“These conditions are designed to help protect individuals from scams and businesses from criminal exploitation,” AUSTRAC CEO Brendan Thomas said in a statement.

“In light of the risks and harms we consider it is absolutely necessary to ensure the sector meets minimum standards and reduces the criminal misuse of crypto ATMs,” he added.

The new rules come as part of an enforcement initiative following an AUSTRAC taskforce investigation into crypto ATM usage across the country.

The task force analyzed data from nine providers and found that individuals aged over 50 accounted for nearly 72% of all transaction value, with those aged 60 to 70 making up 29% alone.

The agency also refused to renew the registration of one operator, Harro’s Empires, citing ongoing risks of misuse.

It warned that other digital currency exchange providers failing to meet their obligations under the Anti-Money Laundering and Counter-Terrorism Financing Act could face similar consequences.

Although the current cash limit applies only to crypto ATM providers, AUSTRAC urged all exchanges accepting cash to consider adopting similar thresholds to reduce exposure to financial crime risks.

In collaboration with the Australian Federal Police-led Joint Policing Cybercrime Coordination Centre (JPC3), AUSTRAC has also developed educational materials that will be placed near ATMs to alert users about common scam tactics, warning signs, and how to report suspicious activity.

The announcement follows AUSTRAC’s warnings earlier this year, when it cautioned crypto ATM providers that non-compliance with AML/CTF rules would lead to legal action.

At the time, AUSTRAC said it had already been working with industry participants since December 2024 to improve standards across the growing network of machines.

Authorities highlighted that some Australians had lost their life savings after being directed to crypto ATMs by scammers. With most machines accepting only cash for Bitcoin purchases, officials say this raises significant risks of exploitation.

Meanwhile, in a separate June 3 report, the Australian Federal Police reported 150 scam-related cases involving crypto ATMs between January 2024 and January 2025, with losses exceeding 3.1 million Australian dollars.

Authorities believe the actual number may be higher, as many victims are either unaware they’ve been defrauded or are hesitant to come forward.

As of last check, Australia is home to over 1,800 crypto ATMs, a dramatic rise from just 23 machines in 2019. According to AUSTRAC, nearly 150,000 transactions occur annually through these machines, moving an estimated $275 million in cash, with Bitcoin, Tether, and Ether being the primary assets purchased.

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June 3, 2025 0 comments

GameFi Guides

Shiba Inu (SHIB) Just Dethroned Bitcoin Cash

by admin May 25, 2025

With a market cap of $8.45 billion, Shiba Inu (SHIB) now ranks 16 among the largest cryptocurrencies by CoinMarketCap, surpassing Bitcoin Cash (BCH), which follows closely behind with a market value of $8.24 billion. It’s a small difference, and yet it’s another moment where a meme coin has beaten out a more traditional project.

Despite its price remaining at just above $0.000014, there is a large and active SHIB holder base of over 1.5 million, and the total circulating supply is approaching 589 trillion tokens. Its daily trading volume is around $178 million.

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By contrast, with just under 20 million coins in circulation, Bitcoin Cash trades at over $415 and sees higher daily trading activity at about $243 million.

Source: CoinMarketCap

Nonetheless, SHIB outperformed and its rise echoes a bigger trend as the market currently favors more reactive, attention-grabbing assets, with meme coins right at the center.

Even though Bitcoin Cash offers exposure to Bitcoin’s original vision and plays a role in the payment space, its pace hasn’t been enough to match the current attention surrounding tokens like SHIB.

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It’s unlikely that this latest flip will change long-term outlooks, but it shows where the market’s focus is. Especially during periods of low conviction or sideways movement, coins that move quickly and engage large communities are likely to be in the spotlight. Shiba Inu keeps benefiting from that trend.

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May 25, 2025 0 comments

Can Monero’s XMR price surge 40% and revisit all-time high?

NFT Gaming

Monero breaks out as privacy demand surges post-Tornado Cash

by admin May 25, 2025

Monero price has been in a relentless bull run this year, and is not losing steam as bulls target the all-time high.

Monero (XMR), the biggest privacy-focused coin, has risen for seven consecutive weeks, reaching a high of $402. Last week was its best one in this cycle as it jumped by over 20%.

XMR price has jumped by almost 300% from its lowest level in 2024, bringing its market cap to $7.4 billion. This performance is notable for a coin delisted by most tier-1 exchanges like Coinbase and Binance. Most of its trading is happening in KuCoin, HTX, and MEXC.

Observers credit the Monero price jump to rising demand for privacy-focused coins as Tornado Cash, a decentralized, noncustodial privacy protocol built on the Ethereum blockchain, continues to face legal issues. ZCash (ZEC) price rose to $50, its highest level since January, and 95% above its lowest point this year.

Monero also jumped after a suspicious transfer of over 3,520 Bitcoins (BTC) worth $330 million into XMR. ZachXBT noted that the transfer was likely linked to a hack, although more details have not emerged.

Some analysts believe that Monero could see more demand as crypto hacks rise. Just last week., Cetus Protocol, a decentralized exchange on Sui, was drained about $223 million by hackers.

Hackers prefer Monero to stablecoins like USDT and USDC because their transactions are complex to track. Monero ensures this privacy using ring signatures, stealth addresses, and ring confidential transactions.

In ring signatures, it groups several transactions, making it hard to determine the true sender. It also uses stealth addresses, generating a unique, one-time address for every transaction. And in ring confidential, it hides the transaction amount.

Monero price technical analysis

XMR price chart | Source: crypto.news

The weekly chart shows that the XMR price has surged this year after spending three years in a tight range between $127 and $187. This price action is a sign that it has moved into the markup phase of the Wyckoff Theory, which is usually characterized by higher demand than supply.

Monero has remained above the 50-week and 100-week Exponential Moving Averages. The Relative Strength Index shows that it has become highly overbought.

Therefore, the bullish trend will likely continue as bulls target the all-time high of $517, about 27% above the current level. After hitting that resistance, it will likely enter the Wyckoff Theory’s distribution phase and pull back.

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May 25, 2025 0 comments