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The post Will DOT Price Top $10 With This Double Bottom At $6? appeared first on Coinpedia Fintech News

Ranking amongst the top performers, Polkadot shows a promising recovery opportunity as it overcomes the supply surge. With a bullish turnaround possibility, the DOT price is slowly gaining momentum and the attention of market bulls.

As the altcoins are suffering to halt the downtrend, the DOT price is ready for an ascension. Will this reversal lead to a massive surge in Polkadot to beyond the $10 milestone? Find out more in our Polkadot price prediction for a long-term picture. 

Polkadot Price Performance

Failing to sustain the early 2024 bull run, a bearish reversal from the $12 mark leads to a massive drop in just two months. A 50% correction with a lower high formation fractures the 200D EMA and influences a bearish impact on 50D EMA, teasing a death cross. 

With a market cap of $9.32 Billion, Polkadot ranks at #15 in the crypto market and the DOT price trades at $6.86, with an intraday move of 6.30%.

Tradingview

The downtrend in DOT price takes a lateral shift at the crucial support level of $6 under the 200D EMA. Further, the underlying bullish shift leads to a double bottom pattern, with the intraday growth signaling an ignition. 

Considering the Polkadot manages to find additional demand to fuel the recovery rally, the buyers could give a double bottom breakout. With this, the altcoin could enter a high momentum recovery to surpass $10 and avoid the death cross. 

Technical Indicators:

EMA Indicator: The declining gap between the 50D and 200D EMA warns of a death cross. 

RSI: The daily RSI shows a bullish recovery from the oversold zone with a divergence in the double bottom. This increases the bullish reversal chances in the DOT price trend.

MACD: The ongoing recovery in the MACD and signal lines, merged together, reflect a rise in bullish momentum.

Will The DOT Price Give A Bullish Break?

In case of a bullish reversal, the DOT price could price reach the $10 mark or the $12 milestone, the 100% Fibonacci trend-based level. On the flip side, a slip under $6 could dump Polkadot to $5. 

The post MicroStrategy Announces Bitcoin-Based Decentralized ID Solution Called MicroStrategy Orange! appeared first on Coinpedia Fintech News

MicroStrategy’s Executive Chairman, Michael Saylor during the company’s recent event on 1st May which was MicroStrategy World: Bitcoin For Corporates, revealed the latest innovation built on the Bitcoin Network, named MicroStrategy Orange. This application uses Ordinal-based encryption to store and retrieve information and has unlocked the ability to integrate digital signatures into emails to verify the identity of the sender.

Imec.xpand, a chip and nanotech-focused venture capital fund, announced the launch of a new $320 million fund today.Read More

Fraud targeting older Americans’ money or cryptocurrency increased by double-digit percentages in 2023.

The number of complaints of elder fraud increased by 14% during the year, while the associated losses rose by 11%, the FBI’s Internet Crime Complaint Center (IC3) said in a Tuesday (April 30) press release.

Individuals 60 years and older reported 101,068 of these scams in 2023 and lost $3.4 billion to fraud, with the average victim losing $33,915, according to IC3’s 2023 Elder Fraud Report released Tuesday.

These figures are likely lower than the actual numbers because many of these crimes go unreported and because about half of those that are reported do not include the victim’s age, per the release.

“Combatting the financial exploitation of those over 60 years of age continues to be a priority of the FBI,” FBI Assistant Director Michael D. Nordwall, who leads the Bureau’s Criminal Investigative Division, wrote in the report.

Tech support scams were the most widely reported form of elder fraud in 2023, with 17,696 victims reporting this scam, according to the release. Other common forms of fraud include personal data breaches (7,333), confidence and romance scams (6,740), non-payment and non-delivery scams (6,693), and investment scams (6,443).

“Call centers overwhelmingly target older adults, to devastating effect,” the report said.

Investment scams were the costliest form of elder fraud during the year, with victims losing $1.2 billion, the release said. The next most costly types of fraud were tech support scams ($590 million), business email compromise scams ($382 million), confidence and romance scams ($357 million) and government impersonation scams ($180 million).

“Investment fraud involves complex financial crimes often characterized as low-risk investments with guaranteed returns,” the report said. “They comprise of advanced fee frauds, Ponzi schemes, pyramid schemes, market manipulation fraud, real estate investing and trust-based investing such as cryptocurrency investment scams.”

Noting the problem of financial crimes against older Americans, senior citizen-focused financial platform Charlie introduced a suite of fraud protection tools called FraudShield in November 2023.

Designed specifically for older Americans, these tools include the ability to toggle off online transactions, to have a partner on an account to help keep tabs on fraud threats, and to add a personal touch to their homepage so they don’t get scammed by fake bank websites.

The post Complaints of Fraud Targeting Older Americans Rose 14% in 2023 appeared first on PYMNTS.com.

Microstrategy unveiled plans to launch a decentralized identity solution at a business presentation, according to an influencer on X. 

Online used car retailer Carvana reported “milestone” first quarter (Q1) results on Wednesday (May 1), fueling a 30% surge in its stock price. This strong performance comes on the heels of a challenging period in 2022, during which Carvana shares plummeting by 97%. 

“We not only set new all-time company records [this quarter], but we also became the most profitable public automotive retailer in the U.S. for the first time,” Carvana CEO Ernie Garcia told investors and analysts on a call accompanying its results. 

Garcia added: “The last few years have resoundingly proven just how difficult it is to build a business this complex, to drive it to scale [and] achieve strong unit economics and to deliver high quality customer experiences. Building a business like Carvana is very hard, and hard is the ultimate competitive mode.” 

In terms of key metrics, the Arizona-based company reported robust year-over-year growth of 16%, with 91,878 retail units sold in Q1 2024. This resulted in total revenue surpassing $3 billion, a 17% increase compared to the previous year. The company achieved record Q1 net income of $49 million.

This record performance has impacted its inventory dynamics, with the average time from posting a vehicle on the website to customer purchase decreasing to just 13 days in March, nearing an all-time monthly low. 

As Garcia noted, “Our inventory is currently smaller than we would like, resulting in less selection available to our customers. All else constant, we believe this is negatively impacting our sales volumes today.” 

To address this challenge, the retailer has begun ramping up production nationwide, with a focus on expanding selection levels for customers in the near term. 

Additionally, the company aims to enhance its reconditioning capabilities — it has capacity for 1.3 million units per year, over 3 times its current volume — which are crucial for scaling but require substantial physical infrastructure and regulatory approvals.

This will be done by leveraging its existing infrastructure and developing a playbook to optimize reconditioning operations, including the conversion of ADESA wholesale auction locations into Carvana reconditioning centers. The successful conversion of an ADESA site in Buffalo, New York, highlights the company’s progress in this regard, management pointed out, with Carvana’s proprietary technology, CARLI, facilitating efficient vehicle reconditioning.

Moreover, the company said it is committed to reducing retail costs, including reconditioning and transport expenses, while also focusing on growing its wholesale business. The acquisition of ADESA in 2022 has bolstered Carvana’s position in the wholesale vehicle auction market, allowing the company to enhance its offerings and develop a new digital auction platform, ADESA Clear.

Looking ahead, Garcia emphasized the importance of maintaining a balance between seizing growth opportunities and ensuring flawless execution, while driving innovation, optimizing operations, and delivering seamless customer experiences in the automotive retail sector.

“The last couple years have been absolutely brutal, but they have cleared the competitive field quite a bit. And also, as a result of us getting it wrong [in previous years], we’re very well positioned from an infrastructure perspective and forward growth looks good,” he said. 

The post Carvana’s Inventory ‘Constrained’ as Online Used Car Retailer Posts Record Q1 appeared first on PYMNTS.com.

EBay’s gross merchandise volume (GMV) eked out slight gains in the most recent quarter, but the tally of 131 million active buyers in the quarter was unchanged.

And growth may be a longer term story – a year-end story, in fact, amid uneven consumer spending. 

Investors sent the shares lower in after-hours trading on Wednesday by about 5%.

CEO Jamie Iannone said on the conference call with analysts, “We remain on track for GMV growth turn positive by Q3 or Q4 of this year.”

Motor parts and accessories was once again the largest contributor to growth among focused categories, said the CEO. GMV was $18.6 billion in the quarter.

AI in Focus

Iannone detailed the rollouts of artificial intelligence (AI) tools, detailed in previous PYMNTS coverage, as AI-powered shopping enables “users to browse a nearly unlimited list of personalized recommendations based on implicit and explicit interest signals, such as the user’s style preferences and sizes.

“We’re increasingly leveraging generative AI to change how we work driving meaningful productivity and efficiency improvements across our organization,” he added.

First-party advertising grew by 28% during the quarter, as total ad revenue represented 2.1% of GMV.  Off-site ads, which Iannone said are gaining traction in beta, “emerged as a material contributor to first-party ad revenue growth in Q1.”   

Uneven Demand, Initially

CFO Steve Priest said on the call that there had been “uneven demand environment in our major markets to start the year. … We continue to navigate through a tough environment,” for discretionary e-Commerce, particularly in the U.K. and Germany, two of the company’s largest markets.

U.S. GMV was basically flat during the first quarter, according to commentary during the call.  

For the current quarter, GMV is forecast to be flat to down 2%.

During the question-and-answer session with analysts, management noted that cross-border commerce remained strong and represented about 20% of GMV.

Asked later in the call about the health of the consumer, Iannone said, “We operate in a really dynamic environment given the macro challenges globally with inflationary pressures and interest rates. … Q1 started off a bit softer because of the weather, but then we had a reasonably good tax period. I would say the backdrop remains weaker in Europe than it does in the U.S.”  

In a macro environment, non-new merchandise can “be a great avenue for selling in terms of consumer demand,” he said. Used and refurbished goods reached 40% of total GMV across the company’s marketplace, he noted during the call.

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The post EBay Targets Gains in Back Half of 2024 Amid ‘Tough’ Discretionary Spending Environment   appeared first on PYMNTS.com.

The Chelsea vs Tottenham live stream sees Blues boss Mauricio Pochettino welcoming his old side to Stamford Bridge. Here’s how to watch from anywhere.