Crypto markets have fallen below $2 trillion total capitalization in a massive double-digit crash, the likes of which have not been seen for at least a year. Stock markets in Asia are also reeling this Monday morning following a tech stock rout in the United States late last week. “Markets are trading like a recession...Read More
As bitcoin and the rest of the market dump hard in one of the worst crashes in recent history, the community is actively trying to locate the source behind this cataclysm. Justin Sun, the founder of Tron and HTX’s advisor, was also blamed that he and his team were liquidated, which only intensified the market...Read More
The world’s second-largest crypto asset has tanked a whopping 23% in less than 24 hours, despite the launch of America’s first spot Ethereum exchange-traded funds last month. Ethereum prices plummeted from around $2,900 in late trading on Sunday to bottom out at $2,240 during the Monday morning Asian trading session. It is the lowest price...Read More
Bitcoin’s price troubles seem to have no ending as the asset kept plunging on Monday morning and fell to its lowest price position since late February of $53,000. This means that BTC has lost about $17,000 since last Monday, making it one of the worst weekly performances in its 15-year history. CryptoPotato has repeatedly reported...Read More
In the second quarter of this year, Riot Platforms recorded a net loss of $84.4 million, compared to $27.4 million in the previous year’s same quarter. The American Bitcoin mining firm’s widened losses are a result of the continued impact of April’s Bitcoin halving. Riot’s Q2 Performance According to the quarterly report, Riot reported a...Read More
Crypto-related hacks continue to plague the ecosystem. In July 2024, PeckShield reported a significant surge in such security breaches. The blockchain investigation firm found that 16 incidents resulted in approximately $266 million in losses during the period. The most severe breach was the Indian centralized crypto exchange WazirX, which suffered a staggering $230 million loss....Read More
The weekend crash continues with full force as bitcoin dumped to just over $57,000 minutes ago, while the altcoins bleed out even worse. Naturally, the liquidated positions and traders have skyrocketed to $350 million and 112,000, respectively. After the positive start of the previous business week, when BTC shot up to $70,000, the landscape quickly...Read More
The total stablecoin market capitalization grew by 2.11% in July, reaching $164 billion, according to CCData. This marks a ten-month consecutive ascent for major stablecoins, with their market dominance increasing to 6.93%. Tether Reaches New Peak Tether, the largest stablecoin by market cap, saw a 1.61% increase to $116 billion, setting a new all-time high....Read More
The cryptocurrency space, alongside most risk-on assets like stocks, plummeted hard on Friday amid reports about the dire conditions of the US economy. However, BTC and the altcoins were harmed even during the weekend due to their ability to be traded 24/7. BTC slipped below $60,000 for the first time in weeks, which prompted questions...Read More
The world’s largest cryptocurrency exchange, Binance, has hinted at something big by adding Hamster Kombat ($HMSTR) to its platform. This news has thrilled the crypto community, sparking curiosity and enthusiasm among traders and investors. The Hamster Kombat community has been eagerly waiting for the airdrop and exchange listing. Listing on Binance After its recent listing...Read More
California’s Department of Motor Vehicles (DMV) has digitized 42 million car titles using the Avalanche (AVAX) network. This initiative is part of a modernization effort to streamline the state’s title transfer process in collaboration with software development firm Oxhead Alpha. California DMV to Digitize Car Titles According to an Avalanche blog post, users will soon...Read More
Jan van Eck, the CEO of VanEck, recently made some bold predictions about Bitcoin. He thinks Bitcoin might hit $350,000 in a near future. What makes him think that? Van Eck says Bitcoin could reach half of gold’s total market value. He also thinks Bitcoin’s future could be even brighter, with a potential price of...Read More
The US Securities and Exchange Commission (SEC) and the Department of Justice (DOJ) charged Nader Al-Naji with orchestrating a multi-million-dollar fraudulent crypto asset scheme involving the social media platform BitClout and its native token BTCLT. The securities regulator’s complaint revealed that Al-Naji raised over $257 million through unregistered offers and sales of BTCLT in November...Read More
Prominent on-chain sleuth ZachXBT has recently uncovered compelling evidence linking convicted UK hacker Gurv – whose real name is Gurvinder Bhangu – to the recent compromises of American actress Sydney Sweeney’s and ‘Breaking Bad’ actor Bob Odenkirk’s X accounts. This resulted in over $530,000 stolen through Solana meme coin scams. SWEENEY Pump and Dump On...Read More
Bitcoin (BTC) could be seeing less selling pressure from miners in the near term due to an increase in the profitability of this cohort of market participants and the recovery of their hashrate following the cryptocurrency’s rally to the $69,000 range. According to a CryptoQuant report, the Bitcoin network hashrate recovered while BTC had its...Read More
The second week of trading for the spot Ethereum ETFs saw again more withdrawals than inflows, perhaps driven by the uncertainty in the US economy. The spot Bitcoin ETFs also closed the business week on the wrong foot, with nearly $240 million leaving the financial vehicles. Data from FarSide shows that Fidelity’s FBTC was the...Read More
Toronto-based Bitcoin mining company Bitfarms announced that its operational hash rate reached 11.1 EH/s by the end of July, marking a 109% year-over-year increase and a 7% rise month-over-month. The average operational hash rate for the month was 10.3 EH/s, up 36% from June. Despite a 1% decline in Bitcoin per EH/s due to a...Read More
Marathon Digital (MARA) saw its shares drop over 8% in after-hours trading on Thursday following a second-quarter revenue report that fell short of Wall Street’s forecasts. However, the stock has since recovered some of these losses. Marathon Digital Sees a Revenue Miss Marathon Digital reported second-quarter revenue of $145.1 million, falling short of Wall Street’s...Read More
MicroStrategy, the world’s largest public Bitcoin holder, has announced plans to raise up to $2 billion through the sale of its class A shares. The company made this revelation in a regulatory filing with the U.S. Securities and Exchange Commission on August 1. Details From the Filing MicroStrategy has not disclosed the specific timeline for...Read More
Coinbase reported a total revenue of $1.449 billion for the second quarter, surpassing the market consensus estimate of $1.396 billion. However, this figure represents an 11% decrease from the first quarter, partly attributed to falling consumer transaction revenues. Coinbase Q2 Revenue Drops 29% Coinbase’s Q2 consumer transaction revenues fell 29% to $665 million, down from...Read More
The volatility in the cryptocurrency industry continues, with the leading digital asset plummeting from $65,600 to $62,300 for the second time in the past day or so. The main driver behind the latest price plunge could be attributed to the developments on US soil, as the jobs data was weaker than expected, and the stock...Read More
Futu Securities International – the largest online broker in Hong Kong – has started offering retail cryptocurrency trading in the city-state. The latest move involves attracting investors with shares of Alibaba Group Holding and Nvidia. Residents of Hong Kong can now trade bitcoin and ether on the brokerage platform with Hong Kong or US Dollars....Read More
Bitcoin continues to grab the world’s attention and increase its adoption levels, especially through the exchange-traded funds tracking its performance. In the latest major news on the ETF frontline, Morgan Stanley reportedly informed its financial advisors that they will be able to offer two Bitcoin ETFs to wealthy clients. Recall that the US Securities and...Read More
In this bearish market sentiment, short sellers are highly active and are creating more short positions compared to long buyers. This is the third consecutive day of this week where the overall market continues to experience downside momentum. Amid this selling pressure, short sellers believe that Ripple’s native token XRP won’t reach the $0.619 level,...Read More
On August 1, MicroStrategy founder Michael Saylor announced that in July, the firm acquired an additional 169 BTC for $11.4 million and now holds a total of 226,500 BTC. The company continues to focus on its bitcoin acquisition strategy. However, it faced significant impairment losses due to BTC price fluctuations, resulting in a second consecutive...Read More
There’s a new meme coin in town – NEIRO. But experts have already raised significant red flags over it. According to the blockchain data platform Bubblemaps, significant insider trading activity has been observed with NEIRO on the Ethereum blockchain. Insider Trading on NEIRO on Ethereum NEIRO meme coin on Ethereum has been found to be...Read More
Friday, August 2, will see around 37,000 Bitcoin options contracts expire with a notional value of around $2.4 billion. The options expiry event is smaller than last week’s end-of-the-month event but a little larger than the average expiry. Bitcoin Options Expiry Today’s tranche of expiring BTC derivatives has a put/call ratio of 0.58, which means there...Read More
The decentralized finance (DeFi) sector is witnessing a resurgence, marked by growth in key metrics such as active loans and total value locked (TVL) from their 2023 lows. DeFi lending, an important component that enables investors to lend their crypto holdings in exchange for interest, is an indicator of DeFi participation and overall market health....Read More
Pro-crypto Wyoming Senator Cynthia Lummis unveiled her Bitcoin bill on July 31, labeling it “our Louisiana Purchase moment.” The proposed ‘Bitcoin Act’ aims to add 1 million BTC, worth around $64 billion at current prices, to U.S. government holdings over five years. The legislation aims to establish a strategic Bitcoin reserve and other programs: “To...Read More
A lengthy court battle to extradite a disgraced crypto mogul, Do Kwon, has seemingly come to a close following a court ruling Thursday. The Appellate Court of Montenegro ruled that Kwon – founder of the defunct Terra blockchain – will be sent to South Korea for prosecution. Do Kwon Set For South Korea The latest...Read More
