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
Bitcoin (BTC) the world’s biggest cryptocurrency has maintained its position above the $60,000 level for four consecutive trading days and is currently consolidating within a tight range. Amid this consolidation, Justin Sun the founder of HTX and TRON has gathered widespread attention due to his significant BTC transfer to Binance. Justin Sun moved $30 million...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 current market sentiment is quite neutral, with most cryptocurrencies at their crucial level. Amid this stability, Solana (SOL) whales have moved notable of tokens to centralized exchanges including Binance and Coinbase, in the last 24 hours. $55 million SOL moves to exchanges On August 10, 2024, the blockchain-based transaction tracker Whale Alert made a...Read More
Two years after filing for bankruptcy, Celsius is trying to recover some funds by suing Tether for an alleged wrong liquidation of more than $800 million worth of BTC (at prices in mid-2022). The stablecoin issuer was quick to respond, calling the lawsuit a “baseless shakedown” and promised to fight for a win. Celsius Goes...Read More
Following a significant drop to the crucial support region of $0.43, Ripple encountered increased buying pressure and saw a substantial surge, pushing the price back above the 100 and 200-day moving averages. This recent action has left market participants uncertain about XRP’s overall direction, with the upcoming movements likely providing clarity. By Shayan The Daily...Read More
The long-awaited conclusion to the settlements phase of the trial passed with a much smaller fine than the SEC had requested. U.S. District Court Judge Analisa Torres for the Southern District of New York (SDNY) decided on a sum just a little over $125 million— instead of the $2 billion fine the SEC wanted. Investors...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
The popular Solana-based meme coin Dogwifhat (WIF) is leading the crypto meme industry. As of August 10, 2024, the overall performance of meme coins is quite dull, including top meme coins Dogecoin (DOGE), Shiba Inu (SHIB), and Pepe (PEPE) as they experienced a price surge of 0.5%, 1.2%, and 1.35% in the last 24 hours....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
In the volatile world of cryptocurrencies, some believe meme coins are the best way to make easy money. Today on August 9, 2024, an on-chain analytic firm Lookonchain shared a post on X (previously Twitter) revealing that five insider wallets have made over $4 million from a newly created meme coin. Meanwhile, another trader lost...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
Bitcoin briefly tumbled below $50,000 earlier this week as the market saw the sharpest correction since the FTX crisis. The subsequent recovery, though, pushed the asset’s price above $57,000. Despite the chaos in the broader market, bitcoin’s technical charts show a bullish flag, while on-chain data reveals rising buying pressure, reinforcing the bullish outlook. Strong...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
