Amidst continued price weakness throughout last week, digital asset investment products saw significant buying activity, with inflows reaching $1.44 billion during that period. This brought the year-to-date (YTD) inflows to a whopping $17.8 billion, which shattered the previous record set three years ago. However, despite this strong inflow, CoinShares reported that trading volumes remained relatively...Read More
Bitcoin has returned to the $63,000 level during early trading on Monday, July 15. This marks a two-week high, prompting some analysts to suggest that the downtrend has broken. : $63,000 #Bitcoin We’re so back! pic.twitter.com/lwusaVmKwL — Lark Davis (@TheCryptoLark) July 15, 2024 On July 15, on-chain analytics platform CryptoQuant suggested that the move has...Read More
According to Forbes data, Argentina currently has the highest crypto adoption rate compared to every other nation in the Western Hemisphere. Ever-surging inflation of the local currency, Peso, and complex access to the dollar have been the primary drivers behind the current adoption of crypto assets, primarily USDT. Argentina Leads Crypto Adoption A Forbes report...Read More
Metaplanet, an investment firm based in Japan, has made a Bitcoin purchase worth 42.4 Bitcoin for ¥400 million ($2.4 million) to add to its holdings. This comes as Bitcoin trades at $57,652, down 8% over the last week, struggling to reclaim the $60,000 mark. Metaplanet Expands Bitcoin Holdings In a press release dated July 8,...Read More
North Carolina-based hedge fund manager Morgan Creek Digital intends to raise roughly $500 million for a new fund focused on investing in artificial intelligence (AI), blockchain technologies, chips, and data opportunities. According to a press release, Morgan Creek’s new fund will invest in early-stage companies that combine AI power with blockchain technology and the associated...Read More
Bitcoin and, by extension, cryptocurrencies have never been more relevant to voters than in the 2024 presidential election. A new poll funded by crypto-focused investment firm Paradigm showed that 13% of Republicans who originally did not intend to vote for Donald Trump had a more positive view of him after he reversed his previous stance...Read More
The upcoming United States elections scheduled for November could mark a significant turning point for the American crypto industry due to candidates’ opposing views on digital assets. Crypto exchange Coinbase believes crypto voters will make a big difference in the election’s key races, especially the presidential contest. The Effect on Battleground States According to a...Read More
The total inflow to the ten U.S. spot Bitcoin ETFs reached $310 million, or 5,361 BTC, on Friday, July 12. This is the largest inflow to the derivatives products since June 5, according to Farside Investors. Moreover, it is the sixth consecutive day of positive flows, indicating that institutional investors have been buying the bottom...Read More
Bitcoin (BTC) is currently at a critical point that could determine whether its price will bottom out or decline further in a correction like that seen in the summer of 2021. While some metrics suggest that the leading crypto asset has reached the bottom of its latest correction, others signal that there could be more...Read More
Bitcoin is currently at $60,000 and attempting to reclaim the crucial range lows above the current levels. While there are positive signs, there is still more work to be done to confirm a sustained bullish trend. On Crypto Banter’s Kyle Doops Trading Show, the analyst presented a list of coins hitting key support levels, stressing...Read More
The global crypto trading volume is projected to surpass $108 trillion this year, reflecting an increase of nearly 90% compared to 2022, as reported by CoinWire. Europe has taken the lead in this growing market, representing 37.32% of total crypto transaction value, and is projected to see a 2.7-fold increase this year from 2022. Russia...Read More
According to a report by a Malaysian news outlet, MalayMail, Bitcoin and crypto mining operations were mostly responsible for the massive electricity theft in the country between 2018 and 2023. Despite the crackdown, crypto mining and general services are not illegal in the Asian country. Bitcoin Mining Using Stolen Energy Akmal Nasrullah Mohd Nasir, the...Read More
According to a recent survey by CoinGecko, only about half of investors are actually bullish about the current crypto market. The study, which featured 2,558 people, was conducted over the last two weeks, from June 25 to July 8. Crypto Investors Lead Bullish Outlook The CoinGecko report highlights that 49.3% of crypto participants are still...Read More
A Dutch court has denied bail for Tornado Cash developer Alexey Pertsev, who was convicted of money laundering in May. This decision is a significant setback for Pertsev, who has been held in custody for the past two months without computer or internet access despite being requested in order to prepare for his defense. Pertsev...Read More
Transaction fees on the Bitcoin network have continued to decline months after its latest peak during the halving event. Data from IntoTheBlock shows that fees on the leading crypto network have decreased by 18% this week after dropping 27% from the previous one. The continuous decline has placed Bitcoin fees at their lowest since November...Read More
Germany’s on-chain Bitcoin wallet balance has officially reached zero, according to Arkham Intelligence, meaning sell pressure from the European economic powerhouse is likely at or near its end. The wallet’s latest outflows bring an end to a bearish narrative that’s hung over the crypto market for weeks, at a time when on-chain indicators are signaling...Read More
The Security and Exchange Commission’s accounting bulletin 121 (SAB 121) requires companies, including banks, to hold crypto assets for clients as a liability on their balance sheets. This makes it inefficient for large banks to offer crypto custody services. Both the House and Senate passed a bipartisan Congressional Review Act (CRA) resolution to nullify this guidance,...Read More
In a July 11 hearing, Judge Katherine Polk Failla expressed skepticism about Coinbase’s efforts to subpoena SEC Chair Gary Gensler in the ongoing SEC case against the cryptocurrency exchange. As detailed by Inner City Press, the hearing showcased Coinbase’s persistent efforts to acquire Gensler’s communications, including statements made before he became SEC Chair in 2021....Read More
Bitcoin’s correction this month may be short-lived as institutions appear to have taken the drawdown as a juicy buying opportunity, according to on-chain data. The findings arise alongside other blockchain-based signals suggesting that Bitcoin’s price is at an appetizing entry point. Institutions Just Bought The Dip As shared by market intelligence platform CryptoQuant on Thursday,...Read More
Shares of Bitcoin mining company IREN, formerly known as Iris Energy, tumbled by 24% on the Nasdaq following a report from short-seller firm Culper Research. The paper, released on July 11, labeled the company as “wildly overvalued” and suggested its stock should be valued 52-79% lower than its current market price. HPC Plans and Underinvesting...Read More
Good News for XRP Lovers as Ripple Joins CME Group and CF BenchmarksXRP lovers received good news on the early morning of July 12. Starting July 29, the XRP Dollar reference rate and indices will be included in the CME Group and CF Benchmarks. Being listed here is a huge milestone for Ripple. XRP Twitter...Read More
Litecoin’s network processes a whopping $2.85 billion in transactions, which is over 50% of its market cap. This surpasses the transaction volume of many prominent Layer 1 blockchain networks and potentially demonstrates an increased level of whale activity. For example, Dogecoin has a market capitalization nearly three times that of Litecoin. However, despite its higher...Read More
The German state of Saxony is swiftly depleting its Bitcoin reserves after offloading another batch of confiscated assets to crypto exchanges on Thursday. Earlier this year, the government seized Bitcoin from Movie2K, a film piracy website. It then began auctioning off around $3 billion worth of BTC. Germany Sell-Off Hits 35,000 BTC This Week On...Read More
Friday, July 12, will see around 23,700 Bitcoin options contracts with a notional value of around $1.49 billion. The options expiry event is of similar magnitude to last week’s which did not have much impact on spot markets. They have been down-trending due to BTC selling pressure from miners, the German government, and Mt. Gox...Read More
Popular crypto privacy protocol Railgun has successfully thwarted Inferno Drainer’s latest effort to launder stolen funds, which were sent back to the original wallet’s address. According to a July 10 post by SlowMist’s anti-money laundering tracking system, MistTrack on X, an attempt to launder over 174 ETH, worth around $533,000 at the time, was intercepted...Read More
The former United States president and current Republican presidential candidate, Donald Trump, is set to speak at one of the largest crypto events this month. A tweet by the official Bitcoin Conference X account revealed Thursday that Trump will be one of the speakers at the event, which is scheduled for July 25 to 27...Read More
Bitcoin’s price has been stuck below $58,000 for a long time. Despite being in a bull market, Bitcoin isn’t moving up, and both market and non-market factors are to blame. Impact of US CPI The US Consumer Price Index (CPI) rose by 3% in June. Analysts see this as a bullish signal for Bitcoin, but...Read More
Shares in Bitcoin development firm MicroStrategy popped 3% on Thursday after the company’s executive chairman, Michael Saylor, announced that it will soon undergo a 10-for-1 stock split. The action will make it far more affordable for smaller investors to gain minimal exposure to MSTR, which left them in the dust during its early-year rally alongside...Read More
Argentina’s advance to the Copa America finals has almost doubled the market value of the country’s fan token, ARG. The token’s price has increased by over 65% in the last 24 hours, making it the second-largest soccer coin by market value. ARG Token Soars by Over 65% According to CoinGecko data, the price of the...Read More
Paxos – the blockchain infrastructure platform behind the Binance USD (BUSD) stablecoin – announced on Thursday that regulators have forfeited their investigation into the firm concerning its dollar-pegged tokens. The result represents a major legal victory for crypto at large, where thick fog has surrounded the legal classification and regulatory treatment of stablecoins. Paxos Prevails...Read More
