June 17, 2024

Critics Allege Venezuelan President Maduro Will Use Crypto to Bypass Sanctions

Venezuelan political critics and activists have warned that President Nicolás Maduro and his government are increasingly turning to cryptocurrency transactions as a method to evade international sanctions. This follows the U.S. reinstating gold and oil sanctions recently, following Maduro’s failure to honor an agreement to ensure fair elections scheduled for July. Critics Urge for Stricter...
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Financial Advisors Wary of Investing in Spot Bitcoin ETFs, BlackRock Exec Says

BlackRock’s chief investment officer for index investments, Samara Cohen, recently implied that amidst the recent success of spot Bitcoin exchange-traded funds, financial investors still exercise some degree of caution when investing. The volatility and infancy of Bitcoin and related exchange-traded funds are the primary drivers behind this investment class’s slow adoption. Financial Advisors Are Cautious...
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Hawkish FOMC Meet Triggers Bitcoin Outflows: Investment Products Bleed $621M

A hawkish-than-expected FOMC meeting drove investors to scale back their exposure to fixed-supply assets, which in turn resulted in digital assets investment products seeing outflows of $600 million. This represented the largest outflows since March 22, 2024. Moreover, the recent price declines further exacerbated the bearish sentiment, as evidenced in the decrease in total assets...
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Shiba Inu Touches Monthly Low Amid Declining Whale Interest: Will Bulls Gain the Control of SHIB Price?

As Bitcoin’s price declines from its recent peak of $70K to the low of $65K level, the once-lucrative meme coin market is feeling the pressure. The sector had previously offered robust returns exceeding 500% among the top tokens by market capitalization. Now, traders are cautiously eyeing potential gains in meme coins amid the downturn. However,...
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TON Blockchain’s TVL Doubles in Three Weeks, Reaching Record High

The Open Network (TON) blockchain’s total value locked (TVL) has surged since early March, surpassing $600 million. Within just three weeks, it has doubled to reach a record high, showcasing rapid growth and investor confidence in TON’s decentralized finance ecosystem. TON’s TVL Hits $600 Million According to DefiLlama data, TON’s TVL surged to over $605...
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South Korea’s New Crypto Law Might Delist 600 Altcoins If Fails To Meet

South Korea’s cryptocurrency market is in for a big change as the country’s Financial Services Commission (FSC) gets ready to implement strict rules under the new Virtual Asset User Protection Act.  These regulations could lead to the delisting of approximately 600 altcoins from crypto exchanges if they fail to meet the FSC’s standards. New Law...
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ScroogeToken: Surpassing $500,000 in Funding and Pioneering User-Friendly Web3.0 Access

[PRESS RELEASE – Dover, USA, June 17th, 2024] ScroogeToken has reached a notable milestone, surpassing $500,000 in funding. This achievement reflects market confidence in ScroogeToken’s approach to decentralized finance. The platform offers seamless access to the Web3.0 ecosystem and promotes a vibrant community. Key Features: User-Friendly Interface: ScroogeToken simplifies the Web3.0 experience for both new...
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Ethereum Scaling Solutions Soar to New Heights: Data

The price front remains quiet, but Ethereum scaling solutions appear to be thriving. The latest data suggests a surge driven by not just Layer 2 networks but lesser-known Layer 3 entities as well. According to L2beat, these scaling networks built on top of Ethereum have collectively reached over 246 TPS on June 16, representing a...
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Post-FTX Era: Bitcoin Whale Wallets Reclaim Correlation with Market Value

Bitcoin has declined over the past several days as bears remained vigilant near $70,000. As a result, the premier cryptocurrency has shed more than 4% over the past week and was trading near $66,000 at the time of writing. Interestingly, wallets with 10 or more BTCs have collectively reached their highest holding level in two...
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Can This Week’s Economic Data Lift Crypto Markets From Lethargy?

Crypto markets have remained sideways over the weekend with very little movement for the majors and total capitalization staying around $2.54 trillion where it has been for the past week. There is a holiday on Wednesday in the US so stock markets will be closed and crypto markets are likely to be muted. Nevertheless, retail...
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Now Live: ZKUSDT Perpetual Swap Listing with Up to 10x Leverage

A new listing – ZKUSDT – the native token of zkSync, is now available to trade on BitMEX, with up to 10x leverage. Trading started here at 12:00 UTC, shortly after spot markets have opened on 17 June 2024. For the lowdown on the latest listing, read on. If you haven’t signed up for a...
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Three Reasons Why Altcoins Are Suffering and When They Will Recover

While bitcoin remains in consolidation, around 10% away from its all-time high, the altcoins are crashing and wiping out most of the gains made in the March crypto market rally. Calls for altseason have diminished, and the overall crypto market and social sentiment are low. There are a few factors that contribute to this altcoin...
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Bitwise Predicts Crypto and AI to Boost Global GDP by $20 Trillion by 2030

Bitwise, a U.S. spot Bitcoin ETF issuer, predicted that the combined forces of the cryptocurrency industry and artificial intelligence (AI) could inject $20 trillion into the global GDP by 2030. The forecast was made at an annual Consensus conference in Austin, where industry leaders gathered to discuss the future of blockchain, regulation, and the vast...
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