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
TL;DR Benzinga crypto analyst Armando Pantoja predicted on Tuesday that Shiba Inu price will FOMO to $0.001. But, one of SHIB’s competitors may beat it to 100x. Although anything can happen in markets and past performance is no guarantee of future results, most crypto assets tend to deliver less ROI with each parabolic price rally....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
On August 7, 2024, during an interview with Bloomberg, Micheal Saylor, the executive chairman and founder of MicroStrategy said there’s never a bad time to buy Bitcoin (BTC). He also added, “We believe in buying Bitcoin whenever we have cash or whenever we can raise money in the capital market.” Micheal Saylor’s words on Bitcoin...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
CryptoQuant CEO Ki Young Ju predicts that if bitcoin’s price remains above $45,000, it could surpass its all-time high within a year. His optimism persists in the crypto market even as some bearish indicators loom in the broader financial markets following bitcoin’s rebound from the Monday lows. Ki Young Ju Predicts Bitcoin Recovery Ki Young...Read More
In a post on X on Aug. 6, CryptoQuant head of research, Julio Moreno, reported that the on-chain analytics firm’s ‘Bull-Bear Market Cycle Indicator’ has flagged a bear phase for the first time since January 2023. The move follows a massive market rout that resulted in around $500 billion being wiped out in less than...Read More
BlackRock has been proving the pundits wrong amid claims that there has been little or no demand for spot Ethereum’s ETFs, The asset manager’s ETHA ETF took another $108.4 million in daily inflows on Aug. 6. This comes in the same week that the underlying asset devalued by around 25%. On “crypto black Monday,” the...Read More
Capula Investment Management LLP, one of Europe’s largest hedge funds, informed that it holds $464 million in shares of spot Bitcoin ETFs from BlackRock and Fidelity. Capula’s disclosure contributes to institutional investors’ rising interest in U.S. spot Bitcoin ETFs. Capula’s Spot Bitcoin ETF Shares A filing with the U.S. Securities and Exchange Commission on August...Read More
The U.S. Securities and Exchange Commission (SEC) has asked a New York court to reject Coinbase’s subpoena, which seeks to compel the agency to produce documents related to crypto assets. The SEC described them as covering “essentially all documents that in any way relate to crypto assets.” SEC Opposes Coinbase’s Subpoena Request The motion filed on...Read More
After a massive price crash, the overall cryptocurrency market has experienced a significant upside move in the last 24 hours. Amid this, Solana (SOL) the world’s fifth-biggest cryptocurrency has gained massive attention from crypto enthusiasts following its substantial price surge. Breakout in Solana (SOL) During the price crash, SOL reached the lowest level of $109.66....Read More
The ongoing turmoil in the Japanese and United States stock markets has triggered heightened volatility in the crypto space. This highlights the interconnectedness of global markets and Bitcoin’s growing correlation with traditional finance (TradFi) markets. Analysts at the crypto exchange Bitfinex explained in the latest Alpha report that Bitcoin’s rising correlation with TradFi markets could...Read More
Bitcoin treasury firm Semler Scientific has added another $6 million in Bitcoin to its balance sheet, comprising more than the entirety of the medical company’s Q2 earnings. The purchase reflects an ongoing commitment to Semler’s Bitcoin acquisition strategy despite the asset recently tapping its lowest price level since February. Semler Scientific Buys More Bitcoin In...Read More
Spot Bitcoin (BTC) exchange-traded funds (ETFs) in the United States surpassed $5 billion in daily trading volume on August 5. This marks the first time since mid-April that such a high volume has been reached. BlackRock’s IBIT Leads with Nearly $3 Billion According to DefiLlama data, BlackRock’s IBIT ETF was a major contributor to this...Read More
Global asset markets went risk-off in a brisk tumble the first week in August. Fears of a U.S. recession put an end to Wall Street’s 23-month, high-flying stock rally. The U.S. “Magnificent Seven” stocks lost a trillion dollars in value in mere days, with Nvidia and Apple leading the bleeding. The Tokyo Stock Exchange’s Nikkei...Read More
U.S. spot Ethereum ETFs had a positive day of inflows following a massive market crash that sent the asset tumbling 23% in less than 24 hours. On August 5, the aggregate inflow for the nine newly launched spot ETH ETFs was $49 million, its second-highest inflow day since the funds started trading. Additionally, it is...Read More
A recent report by Galaxy Research has raised concerns about the long-term sustainability of Bitcoin Layer-2 (L2) scaling solutions, particularly rollups, which have gained popularity as a means to keep transactions cheap, fast, and decentralized. Despite the initial promise, the report suggests that these solutions may face economic challenges due to the inherent limitations and...Read More
Bitwise CIO Matt Hougan said Monday that he views the weekend’s violent selloff in crypto/equities as a Bitcoin buying opportunity. In a Twitter thread Monday, the executive likened the market crash to March 12, 2020 – a day of “chaos” that pre-empted historic new highs for crypto over the following months. Bitcoin Buying Opportunity, Says...Read More
The Australian Federal Police (AFP) has uncovered that over 2,000 cryptocurrency wallets owned by locals were compromised by offshore scammers, putting millions of dollars in digital assets at risk. This discovery emerged from Operation Spincaster, a global initiative against crypto fraud spearheaded by Chainalysis and locally managed by the AFP-led Joint Policing Cybercrime Coordination Centre...Read More
In this market downturn, traders and investors have liquidated over $1.08 billion worth of long and short positions in the last 24 hours. This massive liquidation has created fear across the cryptocurrency landscape. Whales/investors transfer 2.38M SOL to CEXs Amid this fear, investors and whales have transferred a significant 2.38 million Solana (SOL) worth $307...Read More
Aave, a decentralized finance (DeFi) protocol, has demonstrated resilience in the face of a general crypto market downturn. The platform has generated $6 million in revenue amid the current market sell-off. Aave Withstands Market Turmoil Aave’s founder, Stani Kulechov, said in an August 5 post on X that the protocol successfully handled the overall stress...Read More
Ethereum investment products experienced net outflows of $146 million globally last week, largely due to $169.4 million in outflows from US spot Ethereum ETFs. This figure masks $430 million in net inflows into new Ethereum ETFs, overshadowed by $603 million in outflows from Grayscale’s ETHE fund. Additionally, there were minor outflows observed in European ETPs,...Read More
The weekend has been characterized by a rollercoaster of emotions for the crypto community, with fear gripping investors who are concerned about the latest market conditions. According to current data from Alternative.me, the Crypto Fear & Greed Index sat at 26/100, signaling fear among investors. If the market condition worsens, the indicator may inch closer...Read More
Bitcoin’s 24-hour bloodbath has reduced the number of its investors in profit. According to data from blockchain analytics platform IntoTheBlock, the percentage of BTC holders in the green has crashed from 93% in late July to 75% at the time of writing. The significant decline in BTC profitable holders comes as the leading cryptocurrency crashed...Read More
