Bitcoin prices slumped to a nine-week low just below $57,000 on May 1, shedding a further 4% on the day. The asset has now bled a whopping 11% since the same time last week. Market dips and flush-outs are not uncommon for crypto assets, but Glassnode analyst James Check thinks this time is different. Large...Read More
On April 30, the popular millennial trading platform Robinhood announced that its crypto Connect feature was now available on the Uniswap mobile application. It added that eligible Robinhood customers can get $10 in the USD Coin (USDC) stablecoin as a reward when they buy the equivalent amount of crypto using Robinhood Connect as a payment...Read More
The largest American cryptocurrency exchange, Coinbase, has added support for the Lightning Network on its platform to enable faster and cheaper payments. According to a blog post, the Lightning Network integration on Coinbase will reduce the cost of sending bitcoin (BTC) globally by 20x compared to the 2% charged on United States credit card transactions...Read More
The United States Department of Justice (DOJ) has charged and arrested Roger Ver, an early BTC investor known as Bitcoin Jesus, for evading taxes of up to $50 million. According to an official release, the DOJ unsealed the indictment against Ver on April 29 and ordered his arrest in Spain during the weekend. U.S. DOJ...Read More
The crypto market has faced a massive correction over the past month – and new investors are proving incapable of stomaching the volatility. Blockchain data show that 2024 Bitcoin buyers, who entered a raging early-year bull market in which Bitcoin (BTC) surged to a new all-time high, are now panic selling at a loss as...Read More
Binance founder and former CEO – Changpeng Zhao a.k.a CZ – received a four-month prison sentence after pleading guilty to violating US anti-money laundering laws at the world’s largest cryptocurrency exchange. In the first tweet following the sentencing, CZ revealed his intention to remain a passive investor and holder in the crypto industry while simultaneously...Read More
Nic Puckrin, the co-founder and CEO of crypto information portal Coin Bureau, thinks selling one’s bitcoins (BTC) in May would be more profitable than offloading the assets in September. According to his tweet, the cumulative returns of disposing of one’s cryptocurrencies in May have surpassed selling in September or any other time of the year...Read More
BTC prices fell to a two-month low of $59,130 in early trading on May 1, a public holiday for most of Asia. It is the first time the asset has fallen this low since the end of February, when momentum was bullish. With monthly support now broken, analysts are eyeing the next levels and the...Read More
Uniswap, the most widely used Layer 2 decentralized exchanges (DEXs) built on Ethereum, now accounts for approximately 37% of the total trading volume on L2. This represents a remarkable increase compared to the trading volumes observed two years ago. Uniswap L2 Volumes Surged Over 650% In a post on X, Tom Wan, a researcher at...Read More
On April 30, Ripple announced a partnership with HashKey Group, furthering its collaboration with financial services giant SBI Group. The joint venture with HashKey DX, a Tokyo-based specialized consulting company of the HashKey Group, aims to introduce XRP Ledger (XRPL) enterprise solutions to the Japanese market. HashKey DX will deploy supply chain finance solutions to...Read More
A griefing attack on the Bitcoin testnet recently caused a surge in network activity, resulting in the generation of over 165,000 blocks, equivalent to three years’ worth of blocks in just one week. The attacker, Jameson Lopp, co-founder and Chief Security Officer of Casa, publicly took credit for the incident, facing backlash from other Bitcoin...Read More
While Bitcoin has been recognized as a commodity, the same cannot be said for Ethereum’s status, which has been more ambiguous due to its initial coin offering (ICO) in 2014. However, a new report suggests that the Securities and Exchange Commission (SEC) and its chairman, Gary Gensler, seem to have believed that Ethereum is an...Read More
According to Glassnode data, Runes transactions generated $117 million in cumulative Bitcoin network fee revenue post-halving, with $62.4 million amassed on the day of the halving itself. However, this rise proved to be short-lived, recent data reveals that on April 28, Runes transactions only contributed $1.03 million in fees. Runes Dominates Bitcoin Network Post-Halving On...Read More
Analysts at crypto exchange Bitfinex say several on-chain metrics are flashing the buy signal for bitcoin (BTC), indicating a potentially attractive entry point for market participants. According to the latest Bitfinex Alpha report, the Market Value to Realized Value (MVRV) measure and the open interest (OI) weighted funding rate, which shows the cost of holding...Read More
Business intelligence company MicroStrategy continues to increase its bitcoin stash, with a recent purchase of 122 BTC for nearly $8 million. In 2024 alone, the NASDAQ-listed giant has bought over 25,000 BTC. The company, which continues to remain the world’s largest corporate holder of Bitcoin, also reported a net loss and a decline in revenue...Read More
Outflows in digital asset investment products continued for the third week in a row. The latest weekly outflow of $435 million marked the highest outflow since March. According to the latest report by CoinShares, the trading volumes in Exchange-Traded Products (ETPs) dropped to $11.8 billion last week from $18 billion the previous week, with Bitcoin...Read More
Is the Bitcoin bear market already starting to rear its head? One new piece of market data suggests this could be the case. As of Monday, Bitcoin is entering what could be its fifth negative weekly close in a row. Historically, Bitcoin has never closed five consecutive weeks in the red outside of a bear...Read More
Spot Bitcoin ETFs have caused a major stir in the cryptocurrency industry, unlike anything seen before. Following the US and Hong Kong, Australia is now gearing up for a series of launches of Bitcoin exchange-traded funds. The ASX has received applications from at least two organizations, and there’s another one in the pipeline Australia Braces...Read More
On-chain sleuth ZachXBT has published a report on the history of Lazarus Group – the infamous North Korean hacking group responsible for some of the largest crypto thefts in the industry’s history. The article tracks 25 hacks affecting individuals and companies in crypto through which Lazarus laundered $200 million from digital assets to fiat between...Read More
The Ethereum restaking protocol EigenLayer has published a whitepaper with new details about its soon-to-launch Eigen token, which will be airdropped to community members next month. According to the Eigen Foundation’s website, season 1 of the airdrop will distribute 5% of the token supply. Eligible airdrop recipients include those who staked directly with EigenLayer, and...Read More
Lido Finance – the leading liquid staking protocol on Ethereum – has reached a significant milestone in its development by tapping one million Ethereum validators. This essentially represents a massive scale of participation in Ethereum 2.0 staking. Such a large number of validators is expected to improve the security and resilience of the network, making...Read More
A Bitcoin miner defied the odds by independently solving a network block 841,286, which allowed them to acquire a full 3.125 BTC reward. The fourth Bitcoin halving took place on April 20 at block 840,000, reducing the block reward from 6.25 BTC to 3.125 BTC, which is currently valued at around $200,000. Bitcoin Miner Solves...Read More
Gas fees on the Ethereum network have dropped to a six-month low. The average cost is $1.12 per transaction, marking the lowest figure since October 18. Analysts from Santiment noted that this drop in gas fees could be the start of an upcoming altcoin rally. Ethereum Gas Fees Plummet According to Santiment, traders typically cycle...Read More
Bitcoin has fallen back to more than 15% down from its mid-March peak, dropping to a ten-day low of under $62,000 on Monday morning. On April 28, an analyst feed ‘Stockmoney Lizards’ noted that the halving was over, but bitcoin continues to print red candles. They said that we are not at the end of...Read More
United States prosecutors have alleged that two co-founders developed a crypto mining service called Samourai Wallet that conducted unlawful transactions worth $2 billion. The co-founders each face charges of money laundering and unlicensed money transmitting business, with the former carrying a maximum prison sentence of 20 years. Samourai Wallet Allegedly a ‘Safe Haven’ for Criminals...Read More
DYDX, the native token of the dYdX Chain, has evolved from a governance-only coin to a dynamic, multifaceted asset within six months of its launch. According to a blog post by the dYdX Foundation, DYDX has become the powerhouse of the layer-1 blockchain, enabling decentralized governance and allowing users to stake their tokens for rewards....Read More
Binance’s dominance in Bitcoin trading outside the U.S. is dwindling as offshore exchanges expand their reach and regulatory landscapes evolve, reshaping the competitive dynamics of the digital asset industry. According to data from Kaiko, Binance, once dominating Bitcoin trading markets outside the U.S., has witnessed a decline in its share of BTC trading over the...Read More
The portion of Bitcoin miner revenue coming from transaction fees has fallen significantly after surging on the day of the last halving event. A CryptoQuant report revealed that transaction fees now represent 35% of total miner revenue, a significant decline from the 75% recorded on April 19. Transaction Fees Surge During Halving The fourth Bitcoin...Read More
A piece of notebook paper featuring the phrase “Buy Bitcoin,” famously seen in the background during a broadcast featuring then-United States Federal Reserve Chair Janet Yellen in 2017, has been sold for 16 BTC, equivalent to approximately $1.027 million. The auction, held at PubKey, a Bitcoin-themed bar in New York City, was organized and facilitated...Read More
Upbit, a cryptocurrency platform based in South Korea, is responsible for over 80% of the country’s trading activity and has become among the world’s leading five exchanges in terms of trading volume. According to a Bloomberg report, Upbit’s customers were responsible for nearly a fifth of the total deposits from its major banking partners last...Read More
