The costs and expenses were disclosed by Twitter in its 10-Q filing to the SEC.
Twitter sets date for shareholders to vote on the Elon Musk acquisition.
Twitter reported expenses of $33.1 million for the second quarter due to the merger, which is battling with Elon Musk after he declared his intention to drop out of his $44 billion deal to purchase the social media network. Twitter spent $1.52 billion, overall a 31% increase from the same period last year.
The costs were disclosed by Twitter in its 10-Q filing to the SEC on Tuesday, the report stated that, other than the $33.1 million in transaction expenses related to Musk’s proposed acquisition, “the Merger Agreement did not impact the Company’s consolidated financial statements”.
Twitter’s Urge on The Deal
The world’s richest man Musk presented a notice that claimed to end the Merger Agreement on July 8, 2022. The notice stated that Twitter had broken the conditions of the merger agreement and Musk denies Twitter’s statement that fake and spam accounts are less than 5% of its entire user base.
At that time Twitter thinks Musk’s alleged termination is illegal and unjustified, and the Merger Agreement is still in force. Following that Twitter filed a lawsuit on July 12, 2022, in an effort to get Musk and Acquisition Company to fulfill their commitments under the Merger Agreement and complete the transaction in line with its terms.
However, On July 19, 2022, Twitter requested the Delaware Court of Chancery to speed up the case. In consideration of this, the court granted Twitter’s request and schedule a five-day trial in October 2022.
On the other hand, Twitter sent a letter to the company’s shareholders that the company has scheduled the shareholder vote on CEO and billionaire Elon Musk’s acquisition of the firm on September 13th.
William Savitt, the lawyer for Twitter, argued at the hearing that the platform is suffering as a result of the uncertainty of Elon Musk’s purchase.
The price of Axie Infinity (AXS) has struggled recently with a few bullish signs against Tether (USDT) despite market sentiments around the project.
As a result of the “Merge” sentiments, this has led to many altcoins showing relief rallies and newer altcoins making all-time highs; the price of Axie Infinity has struggled to rally despite many expectations on AXS holders.
The Merge is an upgrade on the Ethereum network from Proof-Of-Work (POW) to Proof-Of-Stake (POS) to increase its network efficiency in transactions. (Data feeds from Binance)
Axie Infinity (AXS) Price Analysis On The Weekly Chart
Weekly AXS Price Chart | Source: AXSUSDT On Tradingview.com
From the chart, the price of AXS saw a weekly low of around $14.2, which bounced from that area and rallied to a price of $18.
The price has built more momentum as it faces resistance at $19.3.
If the price of AXS on the weekly chart continues with this structure, it could quickly revisit $18, acting as a good support area for buy bids.
Weekly resistance for the price of AXS – $19.3.
Weekly support for the price of AXS – $14.
Price Analysis Of AXS On The Daily (1D) Chart
Daily AXS Price Chart | Source: AXSUSDT On Tradingview.com
The price of AXS found strong support at around $17.5, which seems to be an area of interest on the daily chart.
AXS bounced from its support and has rallied as it faces resistance at $19.3. The price of AXS has continued to range in a channel; breaking out of this channel could send the price of AXS to $28.
At the point of writing, the price of AXS is $19.27, above the 50 Exponential Moving Average (EMA) with a price of $17.5.
If the price of AXS holds the support of $17.5 successfully, we could see the price trending higher with a successful breakout of the channel; if the price of AXS gets rejected, $17.5, which corresponds with 50 EMA, will be good support for buys.
The Relative Strength Index (RSI) for the price of AXS on the daily chart is above 55, indicating healthy buy bids for AXS.
Daily (1D) resistance for AXS price – $19.3.
Daily (1D) support for AXS price – $17.5.
Price Analysis OF AXS On The Four-Hourly (4H) Chart
Four-Hourly AXS Price Chart | Source: AXSUSDT On Tradingview.com
The price of AXS has continued to range in a channel having resistance at $19.3.
AXS is trading above the 50 and 200 EMA with prices of $18.4 and $17.3, acting as its support on the 4H chart should the price of AXS gets rejected due to the weekend sell-off.
If the price of AXS holds above the support of 18.4 with the good volume, we could see prices trending and breaking out of the range channel. If AXS experiences a sell-off, 50 and 200 EMA prices would support AXS prices.
Four-Hourly (4H) resistance for AXS price – $19.3.
Four-Hourly (4H) support for AXS price – $18.4, $17.3.
Featured image from Coin News, Charts from TradingView.com
Reputable ENS addresses apparently got 0.1 ETH from sanctioned addresses.
A Tornado Cash developer was apprehended in the Netherlands yesterday.
The Office of Foreign Assets Control (OFAC) of the United States Treasury Department has sanctioned crypto mixer Tornado Cash, dealing a blow to the crypto sector. Several Twitter users have reported that the major DeFi lender Aave has begun banning addresses linked to Tornado Cash.
Reputable ENS addresses apparently got 0.1 ETH from sanctioned addresses. Platforms like Uniswap, Aave, and Balancer within the DeFi ecosystem have responded by freezing Tornado Cash-funded accounts.
Aave has been blocking the wallet addresses of notable users including Justin Sun (Tron’s creator), Sassal0x, and Shixing Mao (co-founder of Cobo crypto custodian). Over 600 addresses, including those of famous people and centralized exchanges, have received 0.1 ETH from the Tornado Cash 0.1 ETH contract, as reported by PeckShieldAlert.
Decentralization at Risk?
Because several DeFi systems have blacklisted addresses, including Aave, Uniswap, Balancer, dYdX, Alchemy, and Infura, the concept of “decentralization in DeFi” has gained negative attention. Even popular websites like Discord and Github have discontinued the crypto mixer-related services.
It poses a serious threat to the concept of decentralization. These blockchain-centric businesses are not subject to any government oversight. The whole idea of decentralization is undermined when people freely share information or conform to the law without oversight.
Furthermore, a Tornado Cash developer was apprehended in the Netherlands yesterday. Since just the wallet’s interface is being banned by the Dapps, users may still access it by simply switching to a different front end. It is unclear, however, whether or not these addresses would be blocked by DeFi platforms’ smart contracts.
After the Office of Foreign Assets Control of the United States, Treasury Department put Tornado Cash on its Specially Designated National list, it was quickly forbidden by numerous businesses and organizations.
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Data shows a large amount of leverage has been piling up in the Ethereum futures market as the price of the crypto breaks above $2k.
Ethereum Open Interest Surges To Highest Value In Last 4 Months
As pointed out by an analyst in a CryptoQuant post, the ETH futures market has seen the leverage sharply going up recently.
The “open interest” is an indicator that measures the total number of Ethereum futures contracts currently open in all derivatives exchanges.
When the value of this metric rises up, it means investors are opening up more positions on the market right now. Since more futures positions imply that leverage is also going up in the market, such a trend can lead to higher volatility in the price of the coin.
On the other hand, lowering values of the indicator suggest holders are closing up their positions at the moment. This kind of trend can result in a less volatile value of ETH.
Now, here is a chart that shows the trend in the Ethereum open interest over the course of 2022 so far:
Looks like the value of the metric has shot up in recent days | Source: CryptoQuant
As you can see in the above graph, the Ethereum open interest has observed some sharp uptrend during the past couple of weeks.
The indicator has now reached a value of 7.4 billion, the highest it has seen during the last four months. However, there is an interesting comparison here.
Around 4 months ago, when such values were previously observed, the price of ETH was about $3.3k. But today the price is just $2k, around $1.3k less than it was back then.
And yet, the open interest is at the same level, meaning the Ethereum market might be having the same degree of leverage this time as well, while the price is much lower.
When especially high leverage accumulates in the futures market, any sharp swing in the price can liquidate a large number of positions at once. These liquidations then further amplify this price move, which liquidates more positions.
In this way, liquidations can cascade together, and the event is called a “liquidation squeeze.” This is the reason behind the volatility of an overleveraged market.
If a long squeeze does end up taking place this time, then the latest rally in the value of ETH may hit the breaks.
ETH Price
At the time of writing, Ethereum’s price floats around $1.9k, up 5% in the past week.
The value of ETH seems to have gone up during the last few days | Source: ETHUSD on TradingView
Featured image from Kanchanara on Unsplash.com, charts from TradingView.com, CryptoQuant.com
The price fell when a mysterious wallet dumped a large quantity of the cryptocurrency.
Martin Shkreli Inu has been linked to the Web3 venture Druglike.
The new cryptocurrency token created by Martin Shkreli looks to have been abandoned. The value of Martin Shkreli Inu, a cryptocurrency established last month by the infamous “Pharma Bro,” which was once worth fractions of a cent, dropped by more than 90% on Friday, according to statistics from Binance. The price fell when a mysterious wallet, assumed to belong to Shkreli, dumped a large quantity of the cryptocurrency.
When asked about the drop on the messaging app Discord, a user assumed to be Shkreli replied, “I was hacked.” When asked for comment, a Shkreli spokesman refused.
Based on data compiled by blockchain analytics firm Etherscan, it seems that early on Friday morning, a cryptocurrency wallet account with the name 0xshkreli.eth transferred more than 160 billion tokens to an unknown wallet. As of Friday afternoon, the token lost over 60% of its value.
Drawback or Vulnerability?
Martin Shkreli Inu has been linked to the Web3 venture “Druglike,” which Shkreli unveiled in July. He defined it as an online hub for information relevant to “early stage drug discovery projects.”
After spending time for securities fraud, Shkreli, known for increasing the price of potentially life-saving medicine, was released from jail earlier this year. When a crypto project’s team artificially inflates the price of its token and then disappears with the money, they are committing a rug pull.
To pull a rug, dishonest developers create a new cryptocurrency token, artificially inflate its price, and then cash out before the token’s value collapses to zero. A rug pull is an example of an exit scam and a decentralized finance (DeFi) vulnerability.
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Bullish IOST price prediction is $0.01714 to $0.08729.
IOST (IOST) price might also reach $0.1 soon.
Bearish IOST price prediction for 2022 is $0.01189.
In IOST (IOST) price prediction 2022, we use statistics, price patterns, RSI, RVOL, and other information about IOST to analyze the future movement of the cryptocurrency.
IOST (IOST) Current Market Status
According to CoinGecko, the price of IOST (IOST) is $0.01620526 with a 24-hour trading volume of $23,476,659 at the time of writing. However, IOST has decreased by nearly 2.8% in the last 24 hours.
Moreover, IOST (IOST) has a circulating supply of 23,371,990,680 IOST. IOST (IOST) trades in cryptocurrency exchanges such as Binance, OKX, DigiFinex, FMFW.io, KuCoin.
IOST (IOST) Price Prediction 2022
IOST (IOST) holds the 128th position on CoinGecko right now. IOST price prediction 2021 is explained below with a daily time frame.
The above chart of IOST (IOST) laid out a Horizontal channel pattern, also known as sideways trend. In order to indicate how the price is constrained between the upper line of resistance and lower line of support, horizontal channels are trend lines that join changeable price highs and lows.
Currently, IOST (IOST) is in the range of $0.01631. If the pattern continues, the price of IOST might reach the resistance levels of $0.01735 and $0.02631 .If the trend reverses, then the price of IOST may fall to $0.01463 and $0.01237.
IOST (IOST) Support and Resistance Level
The chart below shows the support and resistance levels of IOST (IOST).
IOST/USDT Support and Resistance Level (Source: TradingView)
From the above chart, it observed that the following are the resistance and support levels of IOST.
Resistance Level 1
$0.01714
Resistance Level 2
$0.02666
Resistance Level 3
$0.03868
Resistance Level 4
$0.05733
Resistance Level 5
$0.08729
Support Level
$0.01189
IOST /USDT Support and Resistance Levels (Source: Tradingview)
The charts show that IOST (IOST) has performed a bullish trend over the past month. If this trend continues, IOST might run along with the bulls overtaking its resistance level at $0.08729
Accordingly, if the investors turn against crypto, the price of IOST (IOST) might plummet to almost $0.01189, a bearish signal.
IOST (IOST) Price Prediction 2022 — RVOL, MA, and RSI
The Relative Volume (RVOL) of IOST (IOST) is shown in the chart below. It is an indicator of how the current trading volume has changed over a period of time from the previous trading volume. Currently, the RVOL of IOST lies below the cutoff line, indicating weak participants in the current trend.
IOST /USDT RVOL, MA, RSI (Source: Tradingview)
Also, the Moving Average (MA) of IOST (IOST) is shown in the chart above. Notably, IOST (IOST) price lies above 50 MA (short-term), so it is in an uptrend. Currently, IOST has entered a bullish state. Therefore, there is a possibility of a reversal trend of IOST at any time.
Meanwhile, the relative strength index (RSI) of the IOST is 62.85. This means that IOST (IOST) is in an overbought state. However, this means a major price reversal of IOST may occur in the upcoming days. So, traders need to trade carefully.
IOST (IOST) Price Prediction 2022 — ADX, RVI
Let us now look at the Average Directional Index (ADX) of IOST (IOST). It helps to measure the overall strength of the trend. The indicator is the average of the expanding price range values. This system attempts to measure the strength of price movement in the positive and negative directions using DMI indicators with ADX.
IOST /USDT ADX, RVI (Source: Tradingview)
The above chart represents the ADX of IOST (IOST). Currently, the ADX of IOST lies in the range of 41.39179 and thus, it indicates a strong trend.
The above chart also represents the Relative Volatility Index (RVI) of IOST (IOST). RVI measures the constant deviation of price changes over a period of time. The RVI of IOST lies above 50, indicating high volatility. In fact, the RSI of IOST (IOST) is at 61.54 thus confirming a potential sell signal.
Comparison of IOST with BTC, ETH
The below chart shows the price comparison between Bitcoin (BTC), Ethereum (ETH), and IOST (IOST).
BTC Vs ETH Vs IOST Price Comparison (Source: Tradingview)
From the above chart, we can interpret that the price action of IOST is similar to BTC and ETH . This indicates that when the price of BTC and ETH increases or decreases the price of IOST also increases or decreases respectively.
IOST (IOST) Price Prediction 2023
If the declining price action completely slows down in momentum and the trend reverses, IOST (IOST)might probably attain $0.3 by 2023.
IOST (IOST) Price Prediction 2024
With several upgrades in the network, IOST (IOST) might enter a bullish trajectory. If the coin grabs the attention of major investors, IOST might rally to hit $0.5 by 2024.
IOST (IOST) Price Prediction 2025
If IOST (IOST) sustains major resistance levels and continues to be recognized as a better investment option among the investors for the next 7 years, IOST would rally to hit $0.7.
IOST (IOST) Price Prediction 2026
If IOST (IOST) sustains major resistance levels and continues to be recognized as a better investment option among the investors for the next 4 years, IOST would rally to hit $0.9.
IOST (IOST) Price Prediction 2027
If IOST (IOST) sustains major resistance levels and continues to be recognized as a better investment option among the investors for the next 5 years, IOST would rally to hit $1.
IOST (IOST) Price Prediction 2028
IOST (IOST) holds up a strong stance as a better investment option for the next 6 years amid the trends in the highly-volatile crypto market. By driving significant price rallies, IOST would hit $3. in 2028.
IOST (IOST) Price Prediction 2029
If investors flock in and continue to place their bets on IOST (IOST), it would witness major spikes. IOST might hit $5 by 2029.
IOST (IOST) Price Prediction 2030
With greater advancements in the Basic Attention TokenEcosystem, the crypto community might continue to invest in IOST for the next 8 years and drive significant price rallies for the token. Hence, IOST (IOST) might hit $7 by 2030.
Conclusion
With continuous improvements in the IOSTNetwork, we can say that 2022 is a good year for IOST. For this reason, the bullish price prediction of IOST (IOST) in 2022 is $0.08729. On the other hand, the bearish price prediction of IOST (IOST) price prediction for 2022 is $0.01189.
Furthermore, with the advancements and upgrades to the Basic Attention Tokenecosystem, the performance of IOST would help to reach above its current all-time high (ATH) of $0.129829 very soon. But, it might also reach $0.1 if the investors believe that IOST is a good investment in 2022.
FAQ
1. What is IOST (IOST)?
IOST stands for Internet of Service Token. It is a self-possessed ultra-fast, fully-fledged and decentralized blockchain network. IOST’s blockchain network is open-source and designed to be secure and scalable.
2. Where can you purchase IOST (IOST)?
IOST (IOST) has been listed on many crypto exchanges which includeBinance, OKX, DigiFinex, FMFW.io, KuCoin.
3. Will IOST (IOST) reach a new ATH soon?
With the ongoing developments and upgrades within the Basic Attention Token Platform, IOST has a high possibility of reaching its ATH soon.
4. What is the current all-time high (ATH) of IOST (IOST)?
On January 24, 2018 IOST (IOST) reached its new all-time high (ATH) of $0.129829.
5.Is IOST (IOST) a good investment in 2022?
IOST (IOST) seems to be one of the top-gaining cryptocurrencies this year. According to the recorded achievements of Basic Attention Token In the past few months, IOST is considered a good investment in 2022.
6. Can IOST (IOST) reach $0.1?
IOST (IOST) is one of the active cryptos that continues to maintain its bullish state. Eventually, if this bullish trend continues then IOST (IOST) will hit $0.1soon.
7. What will be IOST (IOST) price by 2023?
Flamingo (FLM) price is expected to reach $3 by 2023. IOST (IOST) price is expected to reach $0.3 by 2023.
8. What will be IOST (IOST) price by 2024?
IOST (IOST)price is expected to reach $0.5 by 2024.
9. What will be IOST (IOST) price by 2025?
IOST (IOST) price is expected to reach $0.7 by 2025.
10.What will be IOST (IOST) price by 2026?
IOST (IOST) price is expected to reach $0.9 by 2026.
Disclaimer: The opinion expressed in this chart is solely the author’s. It does not represent any investment advice. TheNewsCrypto team encourages all to do their own research before investing.
Binance traced and frozen or recovered 83% of the siphoned funds.
Curve.Finance is more likely to switch over to ENS post this hack.
Malicious hacks and money laundering in the DeFi space are now in full swing. Curve.Finance, one of the top DeFi protocols, turned out to be the recent victim of nearly a $570k hack. On Friday, Binance CEO Changpeng Zhao revealed that the exchange had frozen or recovered $450,000 of the stolen funds.
Binance froze/recovered $450k of the Curve stolen funds, representing 83%+ of the hack. We are working with LE to return the funds to the users. The hacker kept on sending the funds to Binance in different ways, thinking we can’t catch it. 😂#SAFU https://t.co/Ekea9moeAw
Hackers of this Curve DNS hijack have dumped the stolen funds majorly on Binance to convert them into other tokens. This largest crypto exchange seems to have succeeded in tracing out the activities of the hackers. CZ also announced that Binance is working closely with Law Enforcement to return the funds to the users who were exposed to this hack.
On August 10, Curve.Finance’s nameserver “curve.fi” was subjected to DNS cache poisoning due to its exposure to a malicious contract from the hackers. This frontend hijack drained nearly $570,000 from the user’s wallet.
The Curve.Finance developers managed to fix this issue a few hours post the attack. After resolving the issue, the developers alarmed their users to “revoke contracts”. They also warned the users not to fall into the traps of fake accounts that continue to dupe Curve Finance.
This malicious attack on the largest DeFi protocol, Curve.Fiance, alerts the other protocols to switch from the vulnerable DNS server to the Ethereum Name Service (ENS) to withstand in the web3 space.
