‘Concealed Online Betting System’

The court issued the order in response to an investigation led by a specialized gambling prosecution office, according to a report by Buenos Aires Times.

The investigation revealed that Polymarket operated as a “concealed online betting system,” with no requirement for identity or age verification, thus allowing accounts to be set up within minutes.

It was also discovered that the company held no licenses in any jurisdiction, according to checks conducted with the Association of State Lotteries of Argentina.

Polymarket didn’t immediately return Benzinga’s request for comment.

Past Scrutiny

Polymarket, founded in 2020, now faces restrictions in…

Read more on Benzinga

Strong whale buying could be powering Dogecoin (CRYPTO: DOGE) as the memecoin rallied over 9% in a week.

Whale Accumulation Alongside DOGE’s Rally

Widely followed cryptocurrency analyst Ali Martinez highlighted in an X post late Sunday that as many as 470 million DOGE tokens were snapped up by large investors over the last 72 hours. The accumulation totaled roughly $45 million at prevailing prices.

Big Moves In Spot ETFs, Derivatives

Whales were also placing massive bets on DOGE in the derivatives market. The ratio of long and short accounts by top traders —top 20% users with the highest margin balance—was 2.44 as of this writing, according to Coinglass.

Moving Average Indicators Paint… Read more on Benzinga

Eightco Holdings Inc. (NASDAQ:ORBS) shares rose 1.58% in after-hours trading on Monday, extending a sharp intraday rally. The stock is also trending overnight.

What’s Possibly Driving ORBS?

The announcement included the appointment of Tom Lee, Chairman of Bitmine, to the board of directors, while Dan Ives stepped down as Chairman of the board.

Price Action: Eightco rose 1.58% in after-hours trading to $1.12 after closing 34.13% higher to $1.10 during the regular trading session. ETH was exchanging hands at $2,313.58, up 2.95% in the last 24 hours.

Benzinga’s Edge Stock Rankings showed ORBS underperforming in short-, medium-, and long-term price trends.

Photo Courtesy: Rneaw on…

Read more on Benzinga

CleanSpark Business Model Explained

CleanSpark is primarily a Bitcoin miner: it owns, leases and operates data centers and power assets across Georgia, Tennessee, Mississippi and Wyoming, and says Bitcoin mining has historically been its principal revenue-generating activity.

As of Feb. 28, CleanSpark reported a peak operational hashrate of 50.0 exahash per second, with an average operating hashrate of 43.2 EH/s and about 235,588 miners deployed across its fleet.

Why Rising Bitcoin Prices Matter For CleanSpark

The company’s business model makes rising Bitcoin prices especially important. CleanSpark says mining revenue is driven by two main variables: the quantity of Bitcoin mined and…

Read more on Benzinga

Bitcoin touched $74,000 on Monday as cryptocurrencies are up more than 10% over the past week.

Notable Statistics:

Coinglass data shows 117,250 traders were liquidated in the past 24 hours for $530.47 million.

SoSoValue data shows net inflows of $180.3 million from spot Bitcoin ETFs on Friday. Spot Ethereum ETFs saw net inflows of $26.7 million.

In the past 24 hours, top gainers include Artificial Superintelligence Alliance, Pepe and Zcash.

Notable Developments:

Trader Notes: Trader Crypto Tony noted that Bitcoin is currently nearing the major resistance band of $75,500. Despite the overhead supply, he remains positioned long.

Trader Pentoshi highlighted that Bitcoin has repeatedly…

Read more on Benzinga

Bitcoin (CRYPTO: BTC) could bottom between $50,000 and $60,000 before rallying to $100,000 by year-end, according to major institutional strategists.

The $50,000-$60,000 Bottom Call

Jeff Kendrick, global head of digital asset research at Standard Chartered, says any dip below $60,000 is a buying opportunity with $50,000 as a potential target. 

“I could see us back to $100,000 by the end of this year,” Kendrick said, targeting mid-to-late May as when risk assets might base.

“Everything internally is improving but the price of the stock is going down,” Kendrick added, comparing crypto’s current state to Jeff Bezos describing Amazon in the late 1990s. 

The underlying infrastructure…

Read more on Benzinga

The Derivatives Setup

Open interest on PEPE futures climbed 11.56% to $228.54 million while 24-hour trading volume exploded 520.51% to $1.73 billion, signaling fresh money entering rather than just short covering. 

Liquidation data showed $98,000 in short liquidations over four hours versus $327,000 in longs, suggesting the rally caught a significant portion of the short side offside while skeptics remained.

PEPE had been more aggressively sold than Dogecoin, setting up a cleaner derivatives squeeze when the macro tailwind arrived. The volume wave dwarfed PEPE’s 30-day average of 1.23 trillion tokens.

The Technical Picture

PEPE’s daily chart had been grinding lower within a descending…

Read more on Benzinga