C98 Crypto Price

UK's Bitcoin Auction Plans: The UK Home Office is preparing to auction off approximately $7 billion worth of seized Bitcoin, primarily from a Chinese Ponzi scheme, while seeking legal clearance to allocate these funds to the Treasury amidst budget constraints.

Challenges in the Sale Process: The tender process for managing and selling the cryptocurrencies faces delays due to insufficient bids, with potential market volatility impacting the final sale value, and the transfer of assets to public coffers could take up to four years.

UK's Bitcoin Sale Initiative: The UK Home Office is working with police to sell over $7 billion worth of seized Bitcoin, primarily from a Ponzi scheme, to address budget deficits and support public finances.

Challenges in the Sale Process: Legal hurdles and victims' claims for refunds complicate the sale, while a lack of competitive bids for the tender to manage the sale is causing delays in establishing the necessary infrastructure for the transaction.

Investor Activity: Smart money investors added $1.3 million in AERO this week, while whale investors increased their holdings by 18%, despite the token's price dip to $0.8920.

Trading Volume and Technical Analysis: Aerodrome's trading volume surged to over $4 billion, bolstered by upcoming features from Coinbase's TBA platform; technical indicators suggest potential bullish momentum but also indicate risks of a near-term decline.

Technical Analysis of Cardano (ADA): Analyst Ali highlights that Cardano is nearing a critical resistance level at $0.85, with a potential upward movement towards $1.31 if it closes above this threshold. The current price is around $0.74, having recovered from previous lows.

Community Skepticism and Market Sentiment: Responses from users on X reflect mixed sentiments about ADA's future, with concerns about profit-taking at the $1 mark and doubts regarding the sustainability of the rally, emphasizing the importance of monitoring key resistance levels.