Breaking Crypto Stories

Here are the top stories today:

• Bitcoin Millionaires Surge by 111% in 2024 as Crypto Wealth Soars

• Court Orders Martin Shkreli to Surrender Digital Copies of Wu-Tang Clan's Rare Album

• SEC Charges Brothers in $60 Million Crypto Ponzi Scheme with Fake Trading Bot

🤑 Bitcoin Millionaires Surge by 111% in 2024 as Crypto Wealth Soars

The latest Crypto Wealth Report reveals a dramatic 111% rise in Bitcoin millionaires and a 95% increase in overall cryptocurrency millionaires in the past year, highlighting Bitcoin's significant influence in creating new billionaires.

• Bitcoin millionaires increased by 111% over the past year, with 85,400 now holding over $1 million in BTC.

• The total number of cryptocurrency millionaires rose by 95%, reaching 172,300, while the number of crypto centi-millionaires grew by 79% to 325.

• Six new crypto billionaires emerged, all but one from Bitcoin, reflecting its dominant role in attracting high-net-worth investors.

💿️ Court Orders Martin Shkreli to Surrender Digital Copies of Wu-Tang Clan's Rare Album

Martin Shkreli has been ordered to surrender all digital copies of the Wu-Tang Clan's exclusive album, "Once Upon a Time in Shaolin," following allegations from PleasrDAO that he retained and exploited these copies after their purchase of the album.

• A New York federal judge has ordered Martin Shkreli to turn over all digital copies of the Wu-Tang Clan’s rare album, “Once Upon a Time in Shaolin,” by Aug. 30.

• PleasrDAO, which purchased the album for $4.75 million and is selling partial ownership through NFTs, alleges Shkreli kept digital copies, causing harm to their ownership rights.

• Shkreli must also provide an inventory of the album's copies, share details on distribution, and disclose any financial benefits from the album by Sept. 30.

🤖 SEC Charges Brothers in $60 Million Crypto Ponzi Scheme with Fake Trading Bot

Jonathan and Tanner Adam have been charged by the SEC for a fraudulent $60 million Ponzi scheme, where they promised high returns from a fake crypto trading bot and misused investor funds to finance lavish lifestyles.

• The SEC has charged Jonathan and Tanner Adam for running a $60 million crypto Ponzi scheme involving a non-existent trading bot that promised 13.5% monthly returns.

• The Adams allegedly used $53.9 million of the $61.5 million raised to fund their lavish lifestyles, including cars, trucks, and a $30 million condo, while making Ponzi-like payments to earlier investors.

• The SEC has obtained emergency asset freezes for their companies and seeks permanent injunctions, forfeiture of funds, and civil penalties.

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Artificial Superintelligence Alliance (FET)

FET Crypto Price Action: What the 4-Hour Chart Reveals

Price Movements: FET has been showing a mix of bullish and bearish signals on the 4-hour chart. While the price has recently been moving upward, there are signs that the momentum might be weakening. The short-term trend remains bullish, but the flattening of moving averages and decreasing MACD histogram values suggest caution.

Key Levels To Watch: Key resistance levels are set at $1.444 and $1.473, where price breaks could signal further upward momentum. On the downside, support levels to monitor include $1.42 and $1.383. If the price dips below these supports, the next significant level is at $1.365, which could serve as a critical turning point.

Trade Strategies: For long positions, traders should look for a breakout above $1.444 as a potential entry point, with a target at $1.473. However, given the overbought RSI, setting tight stop losses is advised. For short trades, a rejection at $1.444 combined with a bearish MACD crossover could signal an opportunity to target the support levels at $1.42 and $1.383.

Toncoin (TON)

Toncoin Price Prediction: Can Bulls Defend the $5.37 Support Level?

Price Movements: Toncoin has been experiencing a consistent downtrend on the 4-hour chart, with a sequence of lower highs and lower lows. The bearish momentum is evident, as closing prices have steadily declined, signaling that sellers are firmly in control. The bearish sentiment is further supported by the 9 EMA trading below the 20 EMA and the MACD indicator showing negative momentum.

Key Levels To Watch: The critical support level for Toncoin is at $5.373. If this level holds, it could lead to a short-term bounce. On the upside, the first significant resistance level to watch is at $6.56, with stronger resistance around $6.733 and $6.741. A break below $5.373 could lead to further declines, while a break above $6.56 might signal the beginning of a bullish reversal.

Trade Strategies: For traders looking to short, maintaining positions while Toncoin is below the $6.56 resistance could be a sound strategy, with potential exits near the $5.373 support level. Long traders should consider waiting for a confirmed breakout above $6.56 or a solid bounce from $5.373 before entering. Given the current bearish momentum, tight stop-losses are recommended to manage risk effectively.

Worldcoin (WLD)

Is Worldcoin Price Set for a Rebound? Key Resistance Levels to Watch

Price Movements: WLD has shown a weakening trend in recent sessions, with prices gradually declining and testing crucial support levels. The convergence of the 9 and 20 EMAs, along with bearish signals from the MACD and RSI, suggests that the pair is currently under bearish pressure. This could lead to further downside movement if the current momentum continues.

Key Levels To Watch: The critical support level to watch is $1.731. A break below this level could open the door for further declines, targeting $1.638 and $1.601 as the next potential support zones. On the upside, resistance levels at $1.742 and $1.789 would need to be cleared for any significant bullish reversal.

Trade Strategies: For short traders, a break below $1.731 may offer a good entry point, with targets at the lower support levels of $1.638 and $1.601. Long traders, however, should consider entering only after a confirmed breakout above the $1.742 or $1.789 resistance levels, which would indicate a possible shift in momentum towards the bullish side.

ICYMI:

• Telegram CEO Pavel Durov Reportedly Arrested in France Amid Allegations of Serious Crimes

• Notcoin Price Analysis: Bears Take Control as Key Support Approaches

• Crypto Casinos With No Deposit Bonus: Unlock Your Gaming Potential without Spending a Dime

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