Chain News Today TheBitTimes.com

A widely followed analyst and trader is leaning bullish on a top-30 altcoin by market cap while outlining the path forward for three other crypto assets. The analyst pseudonymously known as Sherpa tells his 239,700 followers on the social media platform X that the utility token of the decentralized open financial system, Hyperliquid (HYPE), is likely to surge by at least 116% from the current level before the end of this cycle. “…I still think HYPE is a great project and will go to $50+ later this cycle. It just hits too many narratives and I have a bag of this (and I’m doing a little trading just to hope to get more points). Wouldn’t rush into a position here but more scale in. Not one to give you a 10x at these current levels for this cycle in my opinion but could still be a safe one to hold.” Hyperliquid is trading at $23.16 at time of writing. Next up is XRP. While observing that XRP is demonstrating strength as it sits just bel...

A phishing website posing as the Ethereum search tool Etherscan has been spotted on search engines DuckDuckGo and Bing as one of the first Etherscan search results. Scam Sniffer flagged the Etherscan phishing site today and warned users on X (formerly Twitter) that, “Your assets could be at risk from a simple mistake. Stay safe and alert!”  The phishing site utilizes the same logo as Etherscan and describes the basics of the tool. DuckDuckGo and Bing also list the phishing site as the second search result just below the legitimate Etherscan site. The phishing site can be spotted by the extra dash in its web address which rewrites “etherscan” as “et-herscan.” DuckDuckGo and Bing still list the Etherscan phishing site at the time of writing. Read more: Ethervista ‘unconsciously hacked’ hundreds of times by bot Scam Sniffer highlighted the problem of phishing websites and noted that someone lost almost $521,000 to a fake permit signature crypto scam. ...

VeChain (VET) has faced quite a correction over the last few weeks. The asset is struggling to gain momentum and is glowing red across the board. VET is down by 5.3% in the daily charts, 1.5% in the weekly charts, 2.2% in the 14-day charts, and 19.6% over the previous month. Also Read: Ripple: Whales Buy 50M XRP as Price Looks to Surge Understanding VeChain’s Recent Performance and Future Potential Source: CoinGecko Why The Lack of Upward Momentum? VeChain’s (VET) underwhelming performance may be caused by Bitcoin’s (BTC) drop below $60,000. Even though the Federal Reserve announced that interest rates would decline in September 2024, investors might not feel comfortable investing in riskier assets. Bitcoin’s decline has sparked a market-wide correction, and other cryptocurrencies are trailing. The downtrend may change in September after the Federal Reserve’s first interest rate cut. This development may boost investor confidence in riskier assets such as cryptoc...