Bitcoin’s price action remained choppy this week. Its recovery to $69,000 remained brief after a massive plunge below $65,000. Nonetheless, the resurgence has sparked significant discussion within the community. The drop is largely attributed to the US government’s move to sell its BTC stash from the Silk Road seizure, with plans for four more similar...Read More
Bitcoin Stock-to-Flow (S2F) model creator and analyst PlanB has identified a level which he believes Bitcoin (BTC) will never go below again. According to a tweet by the controversial analyst, BTC is “highly unlikely” to ever move below $33,000, which is also its 200-week moving average. This prediction applies to post-halving slumps and subsequent bear...Read More
There are around 18,000 Bitcoin options due to expire on April 5 with a notional value of $1.23 billion. However, today’s expiry event is much smaller than last week’s whopping $15 billion end-of-quarter crypto options expiry. Moreover, markets have been weaker this week, with total capitalization falling 5% as $150 billion left the space. Bitcoin...Read More
Global payment giant PayPal has announced that all United States users will be able to facilitate money transfers to friends and family abroad using USD converted from the PayPal USD (PYUSD) stablecoin. PYUSD is, however, not available to residents of Hawaii. PYUSD to USD Conversions for Cross-Border Transfers PayPal said that US customers leveraging its...Read More
The hacker responsible for the $321 million Wormhole bridge hack was initially considered qualified for a recent airdrop of a newly launched W token where the explorer could claim $50,000. The Wormhole bridge suffered an exploit in February 2022, making it one of the most significant hacks in the crypto industry’s history. Wormhole Airdrop Lists...Read More
Price feed oracle and market data provider Pyth Network has released new price feeds for two blockchain tokens: W and USDB. According to a press release shared with CryptoPotato, both price feeds have become available on roughly 50 blockchains that have integrated Pyth in their protocols. Pyth Launches Price Feeds For W And USDB W...Read More
The firm, co-founded by Coinbase co-founder Fred Ehrsam and former Sequoia partner Matt Huang, is looking to tap into institutional interest in the space following a bear market lull in VC investing. It would be one of the largest new crypto VC funds raised since the market downturn last year, according to an April 3...Read More
Coinbase’s Layer 2 network – Base – has been dominating the L2 landscape. March has been particularly lucrative for the scaling solution gaining significant traction as a result of increased meme coin frenzy as well as airdrops in recent weeks. With approximately 890,000 daily active addresses, Base has yet again taken the lead, indicating a significant...Read More
Binance will soon close its Bitcoin NFT marketplace after opening its trading venue to the network’s collectibles less than one year ago. In a blog post on Thursday, the crypto exchange said it will “cease support for trades and deposits of Bitcoin NFTs” starting April 18 at 6:00 UTC. Binance Exits From Ordinals The exchange...Read More
The Bitcoin halving event has been scheduled to take place in the next 15 days. Based on historical data, it could trigger a bull run that would last months, setting new price peaks. Crypto data analytics platform Kaiko believes BTC could record a new top within nine to twelve months after the event on April...Read More
Ripple, a provider of enterprise blockchain and crypto solutions, has revealed plans to introduce a stablecoin pegged 1:1 to the US dollar (USD). The asset will be backed entirely by US dollar deposits, short-term US government treasuries, and other cash equivalents. Ripple CEO Confident on Launch According to an April 4 press release, these reserve...Read More
Cathie Wood, founder and CEO of leading investment management firm Ark Invest, thinks Bitcoin (BTC) is an insurance policy against rogue regimes as more users flock to it amid the devaluation of their national currencies. During an interview with CNBC, Wood tagged Bitcoin as a hedge against devaluation and loss of purchasing power and wealth,...Read More
In Asia, investors face turbulent times as automated trading bots react to data streaming from spot Bitcoin exchange-traded funds (ETFs). A report from Bloomberg indicates that these automated trading bots are potentially causing significant market volatility. Bitcoin Volatility in Asian Trading Market Shiliang Tang, president of Arbelos Markets, acknowledged the role played by these automated...Read More
Bitwise CIO Matt Hougan explained what makes Bitcoin valuable on Wednesday after a recently interviewed Goldman Sachs executive struggled to find the answer. Sharmin Mossavar-Rahmani – chief investment officer of the bank’s Wealth Management unit – said she still isn’t a “believer in crypto” even after the launch of Bitcoin spot ETFs in January. Why...Read More
Digital asset investment products experienced a positive shift in sentiment during the last week of March, with inflows reaching $862 million, nearly recovering from the previous week’s record outflows of $931 million. Despite this encouraging rebound, CoinShares revealed that ETF activity appears to be slowing down. In fact, the latest data shows that the daily...Read More
On April 3, 2024, ZachXBT revealed that Kyle raised alarm bells in his Discord server, claiming his wallets had fallen victim to a hack. The prominent blockchain investigator’s findings instead strongly suggested a deliberate transfer of funds rather than an external hack. Kyle Accused of Faking Hack While investigating an alleged hack involving a “social...Read More
Coinbase, the largest crypto exchange in the United States, has selected the company that will spearhead the implementation of Bitcoin’s lightning network at the exchange. That partner is Lightspark – a lightning infrastructure provider led by PayPal co-founder David Marcus. Lightning Is Coming To Coinbase Per an announcement from Lightspark on Wednesday, their technology will...Read More
Robert Kiyosaki, known for his advocacy of Bitcoin (BTC), gold, and silver, has revealed that he would acquire more BTC if the crypto asset’s value ever drops to $200, as American financial writer Harry Dent predicted. In a Tuesday tweet, Kiyosaki, the author of several financial books, including Rich Dad Poor Dad, said he hopes...Read More
Crypto exchange KuCoin has seen its market share of daily trading volume decline by half in recent weeks, according to Kaiko, a blockchain research and analytics firm. The decrease comes days after the U.S. Department of Justice (DOJ) and Commodity Futures Trading Commission (CFTC) charged the company. KuCoin Daily Trading Volume Plunges Following the announcement...Read More
Cathie Wood’s ARK 21Shares Bitcoin exchange-traded fund (ETF) recorded net outflows exceeding $87 million on Tuesday, marking the highest outflow since its inception, as per data from Farside Investors. The outflows exceeded the amount seen from Grayscale’s GBTC, which recorded $81.9 million in outflows on the same day. Ark Invest Sees Second Day of Outflows...Read More
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
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
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
