Following a tumultuous start to April, the crypto market found itself in a sea of red. As an outlier to this trend, Litecoin stood out among the top 100 assets as it shows bullish movement, owing partly to its classification as a commodity by the Commodity Futures Trading Commission (CFTC). Litecoin – formerly part of...Read More
On April 2, industry analytics provider Glassnode reported that long-term holders have started distributing BTC and selling to new investors at higher prices. “This represents an injection of new capital into the asset class, driving the realized cap up to new heights,” it added. Realized cap is a measure of cumulative USD liquidity ‘stored’ in...Read More
Popular trader IcedKnife told his 300K followers on X that DOGE seemed like the most obvious buy-and-hold play of the meme coin market. He then suggested the asset could reach new heights this cycle, with $1 being a “very likely” price target for DOGE. $DOGE seems like the most obvious brain dead spot buy and...Read More
CrowdSwap has launched the first decentralized crypto exchange-traded fund (ETF) ever, consisting of ten digital assets, including Bitcoin (BTC) and Ether (ETH). According to a press release, the new crypto fund, the Bull Run dETF, offers investors access to a diversified digital asset portfolio while ensuring the processes remain decentralized and secure. The First DeFi...Read More
Ethereum co-founder Vitalik Buterin has re-upped his post from 1.5 years ago on “Layer 3s”, saying that L3s won’t magically increase throughput. Still, they can reduce certain fixed costs associated with batch publishing and deposits or withdrawals. His statement comes amid concerns that Layer 3 networks are taking away from Ethereum’s value and security. L3...Read More
The United States government may be selling more of its massive Bitcoin (BTC) stash, potentially piling more sell pressure onto the crypto market, according to blockchain data. On-chain sleuth ZachXBT noted on Tuesday that government controlled Bitcoin tied to Silk Road initiated a small transaction to Coinbase – the crypto exchange previously used by the...Read More
On April 1, Juicebox’s content manager appeared to have announced that the Ethereum-based crowdfunding platform had secured a fake $69 million funding round supported by the crypto venture capital company Paradigm. However, it was later revealed to be an April Fools’ Day prank, causing JBX speculators to incur losses exceeding 20%. JuiceBox’s April Fools’ Day...Read More
The Bitcoin mining industry had its most lucrative month ever in March, pocketing over $2 billion for securing the leading crypto network. Data from Blockchain.com shows that miners, in aggregate, averaged $65.23 million per day over the 30 days ending March 31. Miners In Massive Profit The latest figure shatters the 30-day averages of the...Read More
The digital asset markets expanded substantially over the first quarter of 2024, catalyzed by an end to the decade-long effort to introduce spot Bitcoin ETFs in the US. While Q1 was a turning point in many ways, Q2 kicked off on a turbulent note. Bitcoin’s plunge below $65K and the substantial decline in altcoins’ market...Read More
Amidst a market-wide correction, Coinbase experienced its second-largest Bitcoin outflow this week, with two massive withdrawals of 16,800 BTC and 17,000 BTC, respectively. Typically, when assets depart from centralized crypto exchanges like Coinbase, it indicates a bullish sentiment as it restricts the immediate selling pressure on those coins. Inflows to crypto exchanges, on the other...Read More
In an interview with ABC News, former FTX CEO Sam Bankman-Fried expressed remorse for his actions, which led to a 25-year prison sentence for fraud. The interview, conducted via email from the Metropolitan Detention Center in Brooklyn, marks the first time he has spoken publicly since his sentencing last week. SBF Admits ‘Bad Decisions’ Led...Read More
Bitcoin’s second quarter started on a turbulent note, with the options market once again serving as a harbinger of sharp movements, notably in the downside skew of risk reversals. Bitcoin briefly plummeted to $65,500 from the lofty height of $70k. During the same period, Ethereum saw its value dip to lows of $3,320. Q2 Begins...Read More
Shiba Inu (SHIB), one of the industry’s most popular meme coins and crypto ecosystems, trailed behind other popular tokens like Dogecoin (DOGE) last week, with a price decline of 8% on the weekly scale. However, SHIB might be poised for further growth, according to popular analyst Captain Faibik (CryptoFaibik on X). The analyst, citing data...Read More
Liquidations are mounting up as total market capitalization crashed more than 6% over the past few hours. This has resulted in around $200 billion exiting the space as it fell to around $2.5 trillion, according to CoinMarketCap. CoinGecko reports a slightly different figure, with the total cap dropping to around $2.6 trillion at the time...Read More
Amidst improved investor sentiment, blockchain security firm PeckShield’s report for March 2024 revealed a concerning surge in crypto hacks, with over 30 incidents causing approximately $187.29 million in losses. Despite these setbacks hindering progress in the DeFi sector, the community can find some solace in the recovery of almost $99 million during the same period....Read More
Vitalik Buterin – the co-founder of Ethereum – shared insights on the next steps in the protocol’s simplification and easing the burden on node resources, also known as ‘Purge.’ The Purge essentially aims to safeguard the protocol by optimizing data storage. At the same time, it also seeks to address design decisions that were made...Read More
The government of Argentina is calling on all local crypto firms to register with its new regulatory body dedicated to the sector – or to cease operating entirely. On March 14, the nation’s senate passed legislation approving the Registry of Virtual Asset Service Providers, in line with recommendations from the Financial Action Task Force. More...Read More
Toincoin (TON) has attracted considerable interest lately, experiencing a 138% surge year-to-date, reaching a new all-time high of $5.69. This development coincides with Telegram’s recent launch of a revenue-sharing initiative, enabling channel owners to earn 50% of advertising revenue through Toncoin. The Reasons Behind TON’s Rapid Rise The Toncoin token (TON) has experienced a notable...Read More
Bitwise Asset Management, a provider of cryptocurrency index funds, wants the U.S. Securities and Exchange Commission (SEC) to defer approval for a spot Ethereum Exchange-Traded Fund (ETF) until December. Bitwise Chief Investment Officer Matt Hougan told Forbes in an interview that the industry’s focus on Bitcoin-related products may hinder the necessary attention required for the...Read More
Polygon Labs CEO Marc Boiron has voiced his discontent with layer-3 (L3) networks, saying their existence is taking away Ethereum’s value. His statement comes amid growing excitement around L3 networks such as Degen Chain, which are built on top of L2s to facilitate application-specific dApps that offer solutions such as scaling, costs, and interoperability. How...Read More
Tether, the world’s largest stablecoin issuer, bought another 8,889 BTC. The latest purchase is valued at around $627 million, bringing its Bitcoin holdings to 75.354K BTC. Overall, the company now has $5.26 billion worth of Bitcoin reserves, according to the data compiled by Arkham Intelligence. Bitcoin Holdings Tether first bought Bitcoin in September 2022. Later...Read More
On April 1, the macroeconomics outlet Kobeissi Letter released the key events for this week’s busy economic calendar in the United States. As crypto markets brace for another data-heavy week, volatility could return, with Bitcoin approaching resistance levels at its all-time high. Crucial job market reports are scheduled to be released on Friday, and Fed...Read More
Meme coin hype has dominated crypto social media recently as more seemingly worthless tokens were pumped over the weekend. Industry observer “L” told their 46,000 X followers on April 1 that it is “obvious” that the meme coin craze is retail-driven. “Meme coins are the clear indicator of whether retail is here. It’s obvious to...Read More
Crypto crimes are on the rise across the world, especially with the market-wide boom. Elderly individuals, for one, are one of the most targeted groups, preyed on by fraudsters who convince them through different means to exchange their funds for crypto while promising substantial investment gains. This has prompted authorities to intensify their crackdown. In the...Read More
The Office of Foreign Assets Control (OFAC) has escalated its enforcement efforts by tightening its grip on individuals and entities operating within the financial services and technology sectors in Russia, particularly those involved in virtual assets, enabling evasion of US sanctions. The enforcement agency claimed that these individuals and entities played a crucial role in...Read More
Mike Novogratz’s digital asset financial services firm Galaxy Digital posted a net income of $296 million for the full year 2023, according to its recently released financial statement. This was a significant turnaround after a $1 billion loss in 2022. The company said that Q4 of 2023 was particularly game-changing for the company. In its...Read More
United States Treasuries worth over $1 billion have been tokenized on-chain across Ethereum, Polygon, Solana, and other blockchains. The milestone was propelled by the recent launch of the BlackRock USD Institutional Digital Liquidity Fund. US Treasurys Worth $1.08B Tokenized BlackRock’s Ethereum-based product, BUIDL, was introduced on March 20 and has surpassed a market capitalization of...Read More
The US and UK authorities have ramped up their crackdown on entities linked to terrorism financing via crypto after the October 7th attacks on Israel. As such, the US Treasury’s Office of Foreign Assets Control (OFAC) and the UK’s Office of Foreign Sanctions Implementation (OFSI) imposed fresh sanctions earlier this week on two individuals and...Read More
The hype for Solana meme coins is not cooling down soon after dogwifhat (WIF) hit a milestone on Friday. Meanwhile, another animal-themed token is exploding in price. A new contender in the meme coin sector is catching traders’ attention —”cats in a dogs world” (MEW). Per data from CoinGecko, MEW rallied over 120% on Friday,...Read More
The Financial Conduct Authority (FCA) in the UK has declared its intention to address meme-based marketing for financial products by releasing guidelines for financial services firms and social media influencers. The FCA’s latest report comes after its announcement last month that it will take action against firms engaged in illegal financial promotions. FCA Releases Guidelines...Read More
