Reviewing developments in 2024 as Ethiopian Electric Power (EEP) and 25 privately owned bitcoin miners in Ethiopia contribute 600 MW of energy to the bitcoin network.

Recounting Ethiopia’s Bitcoin Developments In 2024

An analyst has suggested that Monero (XMR) could repeat its 2021 cycle-high 
amid its recent price jump. However, a renowned on-chain sleuth has linked the 
surge to suspicious Bitcoin (BTC) transactions. Related Reading: XRP Price 
Shoots For 20% Surge To $2.51 Amid Pullback To Breakout Zone Monero Soars 
After $330 Million BTC Theft Privacy and security-focused token Monero saw its 
price soar 52% to a four-year high on Monday. The cryptocurrency surged from 
its recently reclaimed $220-$230 support toward the $340 resistance, hitting 
$347 in the early hours of Monday. Amid the massive surge, on-chain detective 
ZachXBT has linked the pump to a “suspicious transfer” from a potential victim 
of social engineering. The crypto sleuth explained that a suspicious transfer 
of 3,520 BTC, worth around $330.7 million, was made on Sunday night. According 
to the post, the funds were laundered via more than 6 instant exchanges 
shortly after the initial transfer, being swapped for XMR, seemingly based on 
timing analysis and the Monero price jump. An X user suggested the stolen 
Bitcoin was “likely from the Bitstamp hack that occurred in 2014.” The 
internet detective denied the idea, stating that the victim was likely an OG 
Bitcoiner. Meanwhile, others questioned whether the wallet owner made the 
transactions or if it was a theft. ZachXBT detailed multiple factors that led 
him to believe it was likely a theft, including the wallet being a longtime 
BTC holder and a Gemini, River, and Coinbase user. Additionally, he noted that 
the $330 million in Bitcoin was suddenly moved and transferred in small 
increments to instant exchanges, creating hundreds of orders. This would make 
the owner lose multiple 7-figures to fees, making it inefficient for a normal 
person. The crypto sleuth also considers that the theft isn’t likely related 
to North Korea’s Lazarus Group, which recently stole $1.5 billion worth of 
Ethereum (ETH) from crypto exchange Bybit. Is XMR Near A Breakout? Since the 
pump, Monero has retraced around 25% from today’s high to trade between the 
$250-$260 range. Crypto analyst Rekt Capital noted that XMR has successfully 
retested its $214 range’s low as support amid the market recovery. Notably, 
the cryptocurrency has been moving within the $112-$214 price range since 
2022, surging above the range’s resistance line amid the November post-US 
elections breakout. After the Q3 2024 rally, Monero entered its key $214-286 
range, which has previously worked as a key support and resistance area. After 
breaking out of the range’s upper boundary, the cryptocurrency rallied to its 
2018 all-time high (ATH) of $542 and its 2021 high of $480. During the Q1 2025 
retraces, the XMR dropped below the $214 mark, testing the $200 area as 
support before bouncing. Similarly, the early April pullback sent the 
cryptocurrency toward this level, finally reclaiming it two weeks ago. Since 
then, the cryptocurrency has rallied toward the $220-$230 range, fueled by the 
ongoing market recovery, but was ultimately rejected at the key resistance 
level. Today’s recent pump has seen Monero break above the $230 mark for the 
first time since February. Related Reading: Cardano (ADA) Bulls Push for 
Breakout — Is a Sharp Rally Next? Despite the alleged laundering-driven surge, 
the analyst affirmed that the cryptocurrency has now “repeated early 2021 
history,” where the token reclaimed its current range and retested its lower 
boundary before breaking out to cycle highs. If history repeats and XMR’s 
price holds its current range, it could position itself for a surge above the 
$300 barrier. Featured Image from Unsplash.com, Chart from TradingView.com

Monero (XMR) Price Jumps 50% Amid ‘Suspicious’ $330 Million BTC Transfer – Details

Solana started a fresh increase from the $142 support zone. SOL price is now 
consolidating and might climb further above the $155 resistance zone. SOL 
price started a fresh increase above the $140 and $142 levels against the US 
Dollar. The price is now trading above $145 and the 100-hourly simple moving 
average. There is a short-term contracting triangle forming with resistance at 
$152 on the hourly chart of the SOL/USD pair (data source from Kraken). The 
pair could start a fresh increase if it clears the $155 resistance zone. 
Solana Price Consolidates Gains Solana price formed a base above the $135 
support and started a fresh increase, like Bitcoin and Ethereum. SOL gained 
pace for a move above the $140 and $142 resistance levels. The pair even 
spiked toward the $155 resistance zone. A high was formed at $153.30 before 
there was a pullback. The price dipped below $150. A low was formed at $145 
and the price started a consolidation phase above the 23.6% Fib retracement 
level of the downward move from $153.30 swing high to the $145.54 low. Solana 
is now trading below $152 and the 100-hourly simple moving average. There is 
also a short-term contracting triangle forming with resistance at $152 on the 
hourly chart of the SOL/USD pair. On the upside, the price is facing 
resistance near the $149.50 level. The next major resistance is near the $150 
level. The main resistance could be $152 and the 76.4% Fib retracement level 
of the downward move from $153.30 swing high to the $145.54 low. A successful 
close above the $152 resistance zone could set the pace for another steady 
increase. The next key resistance is $155. Any more gains might send the price 
toward the $165 level. Downside Correction in SOL? If SOL fails to rise above 
the $150 resistance, it could start another decline. Initial support on the 
downside is near the $147 zone. The first major support is near the $145 
level. A break below the $145 level might send the price toward the $138 zone. 
If there is a close below the $138 support, the price could decline toward the 
$132 support in the near term. Technical Indicators Hourly MACD – The MACD for 
SOL/USD is losing pace in the bullish zone. Hourly Hours RSI (Relative 
Strength Index) – The RSI for SOL/USD is below the 50 level. Major Support 
Levels – $147 and $145. Major Resistance Levels – $150 and $155.

Solana (SOL) Sideways But Bullish — Surge May Be Imminent

Messika, the Parisian fine jewelry brand, now accepts cryptocurrency payments 
across its boutiques and online store, embracing bitcoin, ether, USDT, and 
solana through a seamless integration with Lunu. Messika Now Accepts Bitcoin 
and Other Cryptocurrencies Worldwide Paris-based fine jewelry house Messika 
has taken a major step into the future of luxury retail, announcing it now […]

Parisian Jeweler Messika Embraces Crypto Payments Globally

The founders of the crypto fintech firm Bankera used funds from the project&#8217;s 
2018 initial coin offering to purchase luxury properties worldwide, according 
to a report by the Organized Crime and Corruption Reporting Project.
The OCCRP reported on April 28, citing leaked company records and bank 
statements, that nearly half of the funds from Bankera&#8217;s 100 million euro 
($114 million) ICO were transferred to a bank in the Pacific Island country of 
Vanuatu that was purchased by the project&#8217;s founders, Vytautas Karalevičius, 
Justas Dobiliauskas and Mantas Mockevičius.
Soon after, the Vanuatu bank reportedly began issuing millions of euros in 
loans to companies owned by the trio to build a luxury real estate portfolio 
&#8212; including a villa in the French Riviera and high-end property in Lithuania, 
where the project was founded.
_Bankera &#8216;s three founders. Source: __Bankera_
The leaked records and statements reportedly show that the funds were used to 
underwrite loans to other companies, which were then used to purchase high-end 
real estate.
The Vanuatu bank also loaned millions more directly to the three founders for 
&#8220;personal use,&#8221; according to the OCCRP report.
Lawyers representing the founders reportedly denied that the ICO was 
fraudulent but declined to comment on specific transactions.
Cointelegraph contacted Bankera for comment but did not receive an immediate 
response.
## Bankera over-promised, under-delivered
Bankera pledged to become the &#8220;bank for the blockchain era,&#8221; offering a suite 
of retail and institutional investment services while holding and exchanging 
most of the largest cryptocurrencies.
Many investors were attracted to the Bankera (BNK) token ICO by the promise of 
discounted rates on Bankera&#8217;s services and products, along with the 
opportunity to earn weekly BNK payouts.
However, an investor in Bankera&#8217;s ICO told the OCCRP that those weekly payouts 
began to &#8220;drop significantly below the promised amount.&#8221;
The revenue-sharing scheme was reportedly halted in 2022.
_**Related:**__**Tether scales crypto payments in Eastern Europe with new 
investment**_
Bankera also reportedly promised to obtain a European Union banking license, 
which is yet to materialize.
Despite the 100 million euro ICO raise, the fully diluted value of the BNK 
token is currently at $975,710, CoinGecko data shows.
Bankera continues to provide crypto-related banking services and maintains an 
active social media presence on LinkedIn and, to a lesser extent, X.
_**Magazine:**__**Financial nihilism in crypto is over &#8212; It&#8217;s time to dream 
big again**_

Bankera founders used ICO funds on global property buys: Report

The Ethereum Foundation has overhauled its leadership to better separate 
management and board responsibilities. The announcement was made in an Apr. 28 
blog post. Hsiao-Wei Wang and Tomasz K. Stańczak have been named co-executive 
directors under the new arrangement. They…