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Crypto: Shiba Inu's Transaction Volume is Exploding Despite Market Turbulence

In a context of high volatility in the crypto market, Shiba Inu (SHIB) stands out with a spectacular increase in its transaction volume. This surprising development comes as the memecoin sector experiences a rebound after a significant correction.

Ethereum price struggled to climb above the $3,550 resistance and trimmed gains. ETH gained bearish momentum alongside Bitcoin and tested the $3,385 zone.

Ethereum is trimming gains from the $3,550 resistance zone.
The price is trading below $3,500 and the 100-hourly Simple Moving Average.
There is a key bearish trend line forming with resistance near $3,465 on the hourly chart of ETH/USD (data feed via Kraken).
The pair could gain bearish momentum if it dips below the $3,385 and $3,350 support levels.

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Bitcoin mining stalwart continues its facility-buying spree

CleanSpark CEO Zach Bradford has said his company would be one of the industry’s most active acquirers around the Bitcoin halving.

He wasn’t lying.

The Las Vegas-based company said Tuesday it has bought five more bitcoin mining facilities in Georgia for nearly $26 million. The sites have a combined infrastructure capacity of 60 megawatts and are set to add about 3.7 exahash per second to CleanSpark’s operating hashrate.

SEC drops investigation into Ethereum studio Consensys

Ethereum fans can breathe a sigh of relief.

The US Securities and Exchange Commission (SEC) has formally dropped its investigation into the blockchain’s ecosystem.

9 Elon Musk tweets that moved the crypto markets

Iran’s central bank is set to launch a pilot for its digital rial enabling cashless transactions for banking customers.

The Central Bank of Iran (CBI), also known as Bank Markazi, has announced the operational phase of its digital currency known as digital rial in a bid to modernize and simplify domestic transactions.

In a press release seen by crypto.news, the central bank says the pilot is slated for July, allowing banking customers and tourists on Kish Island to make purchases and transfer funds using digital wallets and QR codes. CBI says the digital rial will enhance the resilience and efficiency of the region’s payment infrastructure, creating “new business models, particularly in e-commerce and the digital economy.”

Iran’s central bank has been testing its digital currency since 2022 in a limited pilot phase, which started in June 2023. CBI claims its state-controlled digital currency “not only increases payment security but is also much simpler than traditional card payment methods.”

Bitcoin: The only decentralized currency, claims the CEO of Tether

Bitcoin continues to make headlines. Recently, Pablo Ardoino, CEO of Tether, called Bitcoin the “only true decentralized currency,” praising its uniqueness and unassailable status. With this bold statement, Ardoino highlighted what sets Bitcoin apart from other cryptos, emphasizing its immutability and the purely mathematical governance that underlies it.