The Ethereum network is currently experiencing its lowest level of ETH burning this year. Data suggests that the base fee briefly tumbled to a multi-year low of almost 0.8 Gwei. This significant drop in base gas fees has led to a reduction in ETH issuance, with only 210 ETH burned on August 10th, which represented...Read More
Crypto markets have started to retreat again following signs of a recovery after the big crash a week ago. Moreover, there will be a busy week ahead in the U.S. economic calendar as inflation data is released, which could influence Federal Reserve monetary policy. These reports usually have a large impact on stock and crypto...Read More
With bitcoin in retreat again, analysts are looking for technical indicators and signals that could provide clues as to where it is heading next. On Aug. 12, crypto derivatives data provider CoinGlass reported that the liquidity heatmap is showing key first-test lines at around $56,800. If BTC prices bounce off this level, it will test...Read More
Toronto-based Bitcoin mining company Bitfarms reported a total revenue of $42 million, marking a 16% decline quarter-over-quarter. This decrease is attributed to the reduction in block rewards resulting from the BTC halving event on April 19, 2024. Q2 Financial Result Bitfarms reported a net loss of $27 million, or $0.07 per share, which includes a...Read More
In July, global crypto trading volume on centralized exchanges surged by 19%, reaching $4.94 trillion. This marks the first increase in trading volumes in four months, as reported by CCData. Crypto Trading Volume Surge CCData noted that the increase in trading volume is due to the launch of spot Ethereum exchange-traded funds in the U.S....Read More
Binance’s venture capital and incubation arm – Binance Labs – announced investing in the Solana-based restaking network, Solayer. Solayer plans to deploy the new capital infusion from Binance Labs to grow its team, onboard additional protocols into its ecosystem, and solidify its role as a crucial part of the Solana blockchain. According to the official...Read More
Binance has announced that its security team has successfully recovered or frozen more than $73 million in user funds from external hacks as of July 31 this year. This latest figure exceeds the roughly $55 million recovered in all of 2023. Binance’s 2024 Security Efforts As per the official press release shared with CryptoPotato, Binance...Read More
Leading European investment company CoinShares has revealed strong financial results for the second quarter of 2024. The company’s revenue more than doubled from the same period in 2023. According to the earnings report, CoinShares recorded revenue of £22.5 million ($28.5 million) in Q2 2024, representing 110% year-over-year growth from the £10.7 million ($13.5 million) seen...Read More
Another week went by, which began with massive volatility, and the spot Bitcoin and Ethereum ETFs were once again in the spotlight. Here’s the data regarding the inflows and outflows for the past five days, according to Farside. Bitcoin ETFs in the Red Last week ended on a highly negative point as the spot Bitcoin...Read More
At one of Berkshire’s world-famous annual shareholder meetings in Omaha during the late 1990s, Munger said, “The first $100,000 is a b——, but you gotta do it.” “I don’t care what you have to do. If it means walking everywhere and not eating anything that wasn’t purchased with a coupon, find a way to get...Read More
The Commodity Futures Trading Commission (CFTC) has awarded over $1 million to a crypto whistleblower. According to an August 8 press release, the whistleblower’s information enabled the CFTC to bring an enforcement action related to improper trading in digital asset markets. Whistleblower’s Tip Uncovers Hidden Improper Trading “Identifying unlawful conduct in the digital asset marketplace...Read More
Former President Donald Trump, now a presidential candidate, has made Bitcoin a central focus of his campaign, promising to make the US a global crypto leader. Building on his father’s recent pivot toward crypto, Donald Trump Jr. is developing a new decentralized finance (DeFi) platform to address banking access inequality. Trump Jr Targets the Debanked...Read More
Stablecoin issuer Tether intends to double its workforce within the next year to strengthen areas such as compliance. By mid-2025, the company behind the USDT stablecoin anticipates expanding its headcount to approximately 200 employees, according to Chief Executive Officer Paolo Ardoino. Tether also plans to increase staffing in its finance department, which oversees the $118...Read More
Several crypto industry figureheads met with White House officials on Thursday morning to attempt to mend relations between the emerging fintech sector and the U.S. Democratic Party, according to FOX Business. The meeting reportedly grew tense when the government denied the industry’s claims that there was a coordinated effort to cut off crypto firms from...Read More
OKX is all set to deactivate accounts involved with sanctioned entities, including crypto mixer Tornado Cash and Moscow-based crypto exchange Garantex. On August 9th, OKX CEO Star Xu highlighted the platform’s strict adherence to compliance with international sanctions and clarified that such users will not be able to open accounts on the platform. OKX Enforces...Read More
According to Grayscale Research, Bitcoin might revisit its all-time high later this year if the U.S. economy avoids a recession. This optimistic outlook follows a period of stabilization in both crypto assets and broader financial markets, which had faced sharp declines from Friday, August 2, through Monday, August 5. Grayscale Predicts Bitcoin Rally In an...Read More
Friday, August 9, will see around 32,000 Bitcoin options contracts expire with a notional value of around $1.9 billion. Today’s options expiry event is slightly smaller than last week’s, so its impact on spot markets is likely to be limited. Crypto Options Expiry This week’s big batch of Bitcoin options has a put/call ratio of...Read More
BTC prices surged to an intraday high of $62,790 during the Friday morning Asian trading session. The move added 9.5% to the value of the asset over the past 12 hours as it climbed from its intraday low of $57,000 late on Aug. 8. Bitcoin has now recovered around 25% from its dump to $49,800...Read More
Japanese investment firm Metaplanet has secured a $6.8 million loan (1 billion Japanese yen) from one of its shareholders, MMXX Ventures, to increase its Bitcoin holdings. This move follows Metaplanet’s recent announcement to raise $70 million through a stock rights offering, with $58 million earmarked for Bitcoin investments. Metaplanet to Fund Bitcoin Investments Metaplanet’s loan...Read More
According to a Fox Business report on Aug. 7, a new advocacy group called “Crypto for Harris” has been launched to battle rival Donald Trump’s industry appeal. The group is planning a virtual town hall meeting next week to support the Harris campaign and promote fundraising initiatives. Fox’s Eleanor Terrett reported that those speaking will...Read More
Brazil’s Securities and Exchange Commission (CVM) has approved the country’s first Solana-based exchange-traded fund (ETF). The approval, granted on August 7, positions Brazil ahead of other countries, particularly the United States, where the process of approving Solana ETFs remains in its early stages with uncertain prospects. Brazil’s Solana ETF Receives Preliminary Approval According to Exame,...Read More
XRP has decoupled from the broader crypto market, outperforming all top assets in terms of daily gains. While the rest of the market struggles, XRP experienced a sharp price increase of nearly 20% in the past day, reaching $0.64 on Thursday before slightly retracing to $0.61. As a result of the continued uptrend, XRP has...Read More
United States District Judge Peter Castel has finalized a $12.7 billion settlement, obligating the bankrupt cryptocurrency exchange FTX and its sister company Alameda Research to compensate the former’s creditors. This decision is part of a settlement with the United States Commodity Futures Trading Commission (CFTC). Judge Approves $12.7 Billion Settlement Judge Castel’s approval, filed on...Read More
On Aug. 8, on-chain analytics platform Lookonchain reported that the world’s largest crypto exchange, Binance, experienced a net inflow of $2.4 billion since the market dip on Aug. 5. It added that the majority of that was in stablecoins with an inflow of $1.33 billion in USDT and $519 million in USDC. This suggests that...Read More
Periods of widespread decline in global markets are usually rare, happening during times of significant global stress, deleveraging, and increased geopolitical risk. On Monday, both equities and digital assets experienced sharp sell-offs as the unwinding of the yen-carry trade led to market deleveraging. US treasuries surged amid recession fears, and bitcoin saw a 32% drop...Read More
During the bloodbath that plagued financial markets on Monday, Cathie Wood’s investment management firm Ark Invest loaded up on shares of the largest American cryptocurrency exchange, Coinbase, ending months of selling the stock. According to a tweet from Ark Invest outlining its trade activity for August 5, the company purchased 93,797 Coinbase shares (COIN) worth...Read More
Nexera, a DeFi protocol, has been affected by a smart contract security breach that resulted in the theft of $1.5 million worth of NXRA tokens. Following the incident, the value of the protocol’s native token plummeted by over 40%. $1.5 Million Stolen and NXRA Token Plummets 43% The exploit was first reported on August 7...Read More
Bitcoin mining is not boiling the ocean, said Michael Saylor during the Aug. 7 interview on “Bloomberg Open Interest.” However, the asset sure is boiling the MicroStrategy founder’s blood for a future-proof finance platform. Bloomberg Television’s Sonali Basak asked the insatiable Bitcoin custodian, “Beyond MicroStrategy, how do you hold Bitcoin personally? Do you have a...Read More
After 11 years of dormancy, a Bitcoin wallet belonging to a miner, dating back to the Satoshi era in 2010, has come back to life. This entity suddenly became active on August 7 and transferred 250 BTC, worth approximately $13.95 million, to five new wallets. Historic Bitcoin Wallet From 2010 Awaken According to the latest...Read More
Bitcoin whales have been actively accumulating significant amounts of the cryptocurrency over the past month during the market slump. On-chain activity has revealed that over 404,448 BTC, valued at approximately $22.8 billion, has been moved to permanent holder addresses in the last 30 days. Bitcoin Whale Accumulation CryptoQuant founder and CEO Ki Young Ju highlighted...Read More
