Germany’s on-chain Bitcoin wallet balance has officially reached zero, according to Arkham Intelligence, meaning sell pressure from the European economic powerhouse is likely at or near its end. The wallet’s latest outflows bring an end to a bearish narrative that’s hung over the crypto market for weeks, at a time when on-chain indicators are signaling...Read More
The Security and Exchange Commission’s accounting bulletin 121 (SAB 121) requires companies, including banks, to hold crypto assets for clients as a liability on their balance sheets. This makes it inefficient for large banks to offer crypto custody services. Both the House and Senate passed a bipartisan Congressional Review Act (CRA) resolution to nullify this guidance,...Read More
This week, the price of Pepe has not shown significant swings, consistently falling below key support levels. While the Bitcoin price has difficulty attracting buyers, the meme coin market is experiencing an increase in liquidations. Furthermore, interest from large-scale investors in the Pepe meme coin has decreased recently, potentially leading to a sharp drop in...Read More
In a July 11 hearing, Judge Katherine Polk Failla expressed skepticism about Coinbase’s efforts to subpoena SEC Chair Gary Gensler in the ongoing SEC case against the cryptocurrency exchange. As detailed by Inner City Press, the hearing showcased Coinbase’s persistent efforts to acquire Gensler’s communications, including statements made before he became SEC Chair in 2021....Read More
Bitcoin’s correction this month may be short-lived as institutions appear to have taken the drawdown as a juicy buying opportunity, according to on-chain data. The findings arise alongside other blockchain-based signals suggesting that Bitcoin’s price is at an appetizing entry point. Institutions Just Bought The Dip As shared by market intelligence platform CryptoQuant on Thursday,...Read More
Shares of Bitcoin mining company IREN, formerly known as Iris Energy, tumbled by 24% on the Nasdaq following a report from short-seller firm Culper Research. The paper, released on July 11, labeled the company as “wildly overvalued” and suggested its stock should be valued 52-79% lower than its current market price. HPC Plans and Underinvesting...Read More
Good News for XRP Lovers as Ripple Joins CME Group and CF BenchmarksXRP lovers received good news on the early morning of July 12. Starting July 29, the XRP Dollar reference rate and indices will be included in the CME Group and CF Benchmarks. Being listed here is a huge milestone for Ripple. XRP Twitter...Read More
Litecoin’s network processes a whopping $2.85 billion in transactions, which is over 50% of its market cap. This surpasses the transaction volume of many prominent Layer 1 blockchain networks and potentially demonstrates an increased level of whale activity. For example, Dogecoin has a market capitalization nearly three times that of Litecoin. However, despite its higher...Read More
The German state of Saxony is swiftly depleting its Bitcoin reserves after offloading another batch of confiscated assets to crypto exchanges on Thursday. Earlier this year, the government seized Bitcoin from Movie2K, a film piracy website. It then began auctioning off around $3 billion worth of BTC. Germany Sell-Off Hits 35,000 BTC This Week On...Read More
[PRESS RELEASE – GIBRALTAR, GIBRALTAR, July 12th, 2024] Empowering players, creators and developers to drive community-driven innovation in gaming READYgg, a leading platform in integrating Web3 technologies into gaming, has launched its utility token, RDYX, on CoinList. The token presale began on July 10, 2024, at 17:00 UTC and will conclude on July 17, 2024,...Read More
Friday, July 12, will see around 23,700 Bitcoin options contracts with a notional value of around $1.49 billion. The options expiry event is of similar magnitude to last week’s which did not have much impact on spot markets. They have been down-trending due to BTC selling pressure from miners, the German government, and Mt. Gox...Read More
Popular crypto privacy protocol Railgun has successfully thwarted Inferno Drainer’s latest effort to launder stolen funds, which were sent back to the original wallet’s address. According to a July 10 post by SlowMist’s anti-money laundering tracking system, MistTrack on X, an attempt to launder over 174 ETH, worth around $533,000 at the time, was intercepted...Read More
Any views expressed in the below are the personal views of the author and should not form the basis for making investment decisions, nor be construed as a recommendation or advice to engage in investment transactions. Last summer, I travelled to the mecca of doosh doosh (house music) in Ibiza. It was a specialist mission...Read More
