After Bitcoin (BTC) dipped to $55,500 and Ethereum (ETH) dropped to $2,200 earlier this week, many expected further struggles across the crypto market. However, contrary to the expected downturn, altcoins have experienced a surprising rally. This renewed momentum in the sector highlights the resilience of smaller projects despite widespread fear, uncertainty, and doubt (FUD) among...Read More
On Sept. 11, the UK government introduced the “Property (Digital Assets) Bill,” which means that digital holdings, including cryptocurrency, non-fungible tokens (NFTs) such as digital art, and carbon credits, can be considered personal property under the law. “Tech-savvy owners of Bitcoin and other digital assets will benefit from greater legal protection thanks to an important clarification to...Read More
In the past two weeks, bitcoin has experienced a market correction of around 11% and even more evident volatile rides. Although the leading crypto asset recently briefly rebounded to $58,000, its price still has a long way to go before it regains its all-time high levels. On-chain data from the blockchain market intelligence firm Santiment...Read More
Fintech bank Nubank has announced the suspension of trading for its cryptocurrency, Nucoin. This comes against a backdrop of scrutiny over the bank’s financial stability. Nubank’s Policy Change In a September 10 blog post, Nubank disclosed that effective immediately, Nucoin can no longer be bought or sold within its app. The cryptocurrency was launched in late...Read More
In the current bearish market sentiment, Solana-based Dogwifhat (WIF) is poised for a potential price correction in the coming days. On September 11, 2024, WIF experienced a price drop of over 8% and is now there at a crucial level. However, the on-chain metrics such as WIF’s long/short ratio, WIF OI-weighted funding rates, and future...Read More
Bitcoin’s price may not look exciting this month, but the network’s total hash rate has returned to logging regular new all-time highs. The divergence between security and price is a sign that Bitcoin mining firms are happy to continue installing new computer hardware, even amid uncertain business/ market conditions. Bitcoin’s Unrelenting Hash Rate According to...Read More
According to a late Tuesday filing from her lawyers, Caroline Ellison, the former CEO of Alameda Research, should be sentenced to time served and supervised release. The request comes ahead of her scheduled sentencing on September 24, 2024, for her involvement in the collapse of the cryptocurrency exchange FTX. Extraordinary Cooperation In the Tuesday filing,...Read More
Ripple Labs’ Chief Legal Officer, Stuart Alderoty, has slammed U.S. regulators for unfairly targeting the cryptocurrency industry in money laundering investigations while allowing traditional banks to slip under the radar. In a recent X post, Alderoty pointed to the New York Federal Reserve’s reported role in enabling large-scale illicit transfers, including those tied to terrorist...Read More
The current market condition has raised speculation among market participants about the short-term price trajectory of the asset class. Slowing crypto adoption and a tough macro environment have caused traders to wonder if this is the start of a bear market or just a quiet phase in this bull cycle. IntoTheBlock said analysts noted that...Read More
India has again ranked as the leading country with local investors adopting crypto. The latest metric comes despite the government’s continuous efforts to discourage digital asset adoption. According to Chainalysis’ latest research, seen by CryptoPotato, India also led last year’s Crypto Adoption Index. India Leads Crypto Adoption The study ranked global countries based on their...Read More
Indodax, Indonesia’s largest centralized cryptocurrency exchange, has reportedly suffered an exploit resulting in a total loss of $18.2 million. Following the incident, the team acknowledged the security breach and temporarily suspended operations for maintenance, reassuring users that their funds remained safe. $18.2 Million Exploit On September 11, Cyvers Alerts took to X to notify the...Read More
The Donald Trump-themed meme coin MAGA (TRUMP) has tanked 15% over the past 12 hours following a less than convincing performance in the presidential debate held on Sept. 10. TRUMP hit an intraday high of $3.42 before his showdown with Democrat rival Kamala Harris. However, it dumped to $2.89 as the debate went on, and...Read More
On Sept. 10, ITC Crypto founder and CEO Benjamin Cowen identified a wedge chart pattern this cycle similar to previous cycles in 2019 but several orders of magnitude larger. He said that the ETH/BTC structure bottomed after an interest rate cut in 2019, and it appears to be mirroring that pattern now with an impending...Read More
GS Partners, a European-based entity involved in multiple cryptocurrency investment schemes, has agreed to refund all funds to investors in a settlement with five U.S. states. The agreement will see the firm pay back 100% of investor deposits in exchange for the dismissal of all civil claims and ongoing investigations. Investors Will Get Full Refunds...Read More
On September 11, 2024, Internet Computer (ICP) made waves in the cryptocurrency market with its impressive price performance. However, based on its chart and price action, it appears that ICP is just one step away from a potential 25% rally. Internet Computer (ICP) Price Performance At press time, ICP is trading near $8.8 level and...Read More
Japanese investment firm Metaplanet Inc. announced today that it has purchased an additional 38.464 BTC, worth approximately 300 million yen ($2 million). The Tokyo-listed company disclosed that this purchase brings its total Bitcoin reserves to 398.832 BTC, worth around 3.75 billion yen ($26 million). Metaplanet’s Shares Soar 5.87% Following the announcement, the company’s stock rose...Read More
North Carolina legislators have approved a bill that prevents the U.S. state from accepting central bank digital currencies (CBDC) as a form of payment or participating in any related tests conducted by any branch of the Federal Reserve. According to the roll call transcript for the voting session, the North Carolina General Assembly passed the...Read More
Bitcoin ETF manager Bitwise published a report this week explaining why almost every September – including this one – is a bad month for Bitcoin. The asset’s sour performance comes down to three factors: sinking risk assets, SEC enforcement actions, and a negative feedback loop. Bitcoin’s September Blues “Since bitcoin started trading in 2010, the...Read More
Bitcoin’s open interest is still relatively high, but analysts cannot say the same for altcoins. The total open interest for alts listed on major crypto exchanges, excluding ether (ETH), has fallen 55% from an all-time high (ATH) seen on March 25. The current aggregated value for these crypto assets is $8.75 billion, indicating that they...Read More
The hacker responsible for the WazirX security breach has moved over $23 million worth of stolen Ethereum (ETH) in the past 24 hours. This comes amidst the exchange’s restructuring efforts which could see 55-57% of the stolen assets being returned to users. Funds Likely Heading to Tornado Cash According to Cyvers Alerts, the hacker transferred...Read More
A higher low happens in a down-trending market when the last dip is not as deep as the previous one. This could be a sign of trend reversal as selling pressure wanes. The last dip saw BTC prices plunge to a low of $53,300, which was not as deep as the Aug. 5 crash to...Read More
Bitcoin’s price continues to show high levels of correlations with the landscape around the spot ETFs. This was further proven by the price actions on Monday evening. BTC jumped to over $58,000 for the first time in five days as the ETFs broke a two-week-long streak. Over the weekend, CryptoPotato reported the negative streak the...Read More
The approval of spot Bitcoin ETFs in January was one of the biggest moves in crypto this year, with funds generating a surge in demand for BTC. However, eight months after their launch, interest in those products appears to be waning. In a recent post on X, Jim Bianco, the CEO of Bianco Research, stated...Read More
Bitcoin had fallen to a danger zone between $56,600 and $52,500 on September 5. Last time this happened, Bitcoin touched $49,000 twice in one day on August 5. The recent fall of BTC under $56,600 caused huge tension in the market, as September is very notorious for being a red month for the largest cryptocurrency....Read More
USDT issuer Tether has made a move into the agriculture sector with a $100 million investment in Adecoagro, a South American agricultural firm. This marks its first venture into the agriculture and food industry, expanding its investment portfolio beyond its previous focus areas of technology and digital assets. Tether Acquires 9.8% Stake in Adecoagro In...Read More
Sections of the crypto community are accusing Democratic leaders of paying lip service to the sector while failing to deliver any actual support. This follows Kamala Harris’s policy priorities, which omitted cryptocurrency, and Chuck Schumer’s letter to senators outlining key bipartisan legislation that also excluded it. Harris’s Policy Fails to Mention Crypto This morning, Vice...Read More
MicroStrategy Executive Chairman Michael Saylor predicted on Monday that Bitcoin will reach $13 million over the next two decades. The billionaire explained why the leading digital asset’s recent volatility hasn’t frightened his company, and the advantages for investors to buy into MSTR instead. Bitcoin To $13 Million, Says Saylor During an interview with CNBC, Saylor...Read More
Bitcoin (BTC), the world’s biggest cryptocurrency by market cap appears to be recovering after its price hitting a monthly low of $55,500. In recent days, the BTC price has fallen by more than 10%, but over the past three days, it has jumped more than 5%, which could be considered a sign of a price...Read More
According to data from CoinShares, crypto investment products are experiencing a notable shift in investors’ sentiment. During the past trading week, they recorded staggering net outflows of $726 million, the highest outflow seen since March 2024. Bitcoin (BTC) saw the most outflow for the week, totaling $643 million, while short-bitcoin witnessed minor inflows of $3.9...Read More
Friend.Tech, the Web3 social networking platform that allows users to trade tokens for access to influential individuals’ feeds, is seemingly winding down just one year after its successful launch. On September 8, the developers behind it relinquished control of its smart contracts by transferring ownership to Ethereum’s null address. This action locks the system in...Read More
