Bitcoin (BTC)’s meteoric rise over the past few months has many long-term holders starting to cash out their positions, on-chain data suggests. In a research newsletter published on Tuesday, Glassnode noted that long-term investors have already distributed 480,000 BTC since December 2023, from which time BTC has appreciated 45%. Bitcoin’s Distribution Phase According to lead...Read More
Every holder of OP, the native token of the Ethereum-based layer-2 scaling solution Optimism, is currently in profit following the asset’s surge past its all-time high. According to data shared by crypto market intelligence platform IntoTheBlock, over one million addresses holding OP, including wallets that acquired the token at $4.01, are currently in the money....Read More
Terraform Labs co-founder Do Kwon may not be leaving for the United States any time soon after the Appellate Court of Montenegro overturned a previous decision by a lower court to extradite the former crypto exec to the US. Do Kwon is facing fraud and other criminal charges in the United States following Terra’s collapse...Read More
A slew of crypto staking and infrastructure leaders have publicly committed to securing the Stack (STX) blockchain – a network focused on bringing staking, NFTs, and other functionality to Bitcoin (BTC). The eight new organizations joining Stacks Consensus include Blockdaemon, NEAR Foundation, DeSpread, Luxor, Chorus One, Kiln, Restake, and Alum Labs. The new companies join...Read More
A CryptoPunk non-fungible token (NFT), which belongs to the rarest set in the collection, was sold for over $16 million worth of Ether (ETH). The latest sale is the second-highest CryptoPunks transaction after a record-breaking purchase in February 2022. Alien Punk NFT Sold for 4,500 ETH On Monday, March 4, 2024, an anonymous buyer purchased...Read More
In a recent interview with Bloomberg Television’s Katie Greifeld, Saylor said, “I’m going to be buying the top forever. Bitcoin is the exit strategy. It is the strongest asset.” As Bitcoin’s price soared around the $65K mark and near its previous record high, it may pull back some to correct. But most analysts like Galaxy...Read More
Euro Pacific Asset Management founder Peter Schiff, a cryptocurrency skeptic, recently warned that Bitcoin is the “ultimate asset bubble” as Bitcoin price soared. Bitcoin price was flying somewhere above $61,500 when Schiff made his warning. At the time of this writing, four days later, BTC is trading above $65K. Peter Schiff Warns of Bitcoin Bubble...Read More
MicroStrategy, the leading corporate holder of Bitcoin (BTC), has announced plans to raise $600 million through senior convertible notes to expand its Bitcoin reserves further, as confirmed by its founder and chairman, Michael Saylor. On March 4, Saylor announced that MicroStrategy is seeking to raise over $600 million through senior convertible notes, a type of...Read More
Jake Chervinsky, Chief Legal Officer of cryptocurrency company Variant, has posted on X that he doubts the likelihood of a spot Ethereum (ETH) ETF approval this year. Chervinsky’s comments come amid a bull run in the cryptocurrency markets, and he believes such an ETF could grow the market further. SEC Faces Pressure in Ethereum ETF...Read More
Crypto fanatics eager for a market-shattering Ethereum spot ETF launch may be in for an underwhelming surprise, according to Bloomberg ETF analyst Eric Balchunas. While the recent launch of multiple Bitcoin spot ETFs in the United States has proven phenomenally successful, Balchunas claims a follow-up launch for Ethereum would be “small potatoes” compared to the...Read More
Friend.tech, a Web3 social platform, has revealed that its investors have unanimously decided to waive their rights to sell tokens to users, granting them full control over the funds. The decentralized social media protocol garnered significant attention last year but has recently experienced a decline. Friend.tech Is Looking for a Comeback Friend.tech users have been...Read More
The official liquidator of FTX has instructed creditors to file electronic claims by May 15, 2024. The claims portal managed by PricewaterhouseCoopers (PwC) anticipates commencing its initial distribution either in late 2024 or early 2025, with all valid claims being expressed in U.S. dollars. PwC Announces Chapter 11 Settlement for FTX and Debtors In a...Read More
At the beginning of last spring, the Wall Street Journal published an investigative article on Tether, Bitfinex, and related companies. The majority stake of both Tether and the Bitfinex exchange is owned by iFinex, a corporation established in the Virgin Islands. Controversial Article At the time, the Wall Street Journal claimed that the two companies,...Read More
Tether (USDT), the largest stablecoin by market capitalization, continues its growth by reaching a new milestone of $100 billion. Data from CoinGecko shows that the stablecoin recorded a market cap of $100.24 billion on Monday at 9:15 UTC before returning to levels below $99.7 billion. USDT Hits $100B Market Cap Tether’s new all-time high comes...Read More
Andrew Kang, crypto trader and co-founder of crypto-focused venture capital firm Mechanism Capital, believes that meme coins will outperform every other digital asset in this bull cycle because the tokens are pure and upfront speculative vehicles. In a Sunday tweet, Kang stated that the crypto market might see Ether (ETH) soar by 50% from its...Read More
Bitcoin prices surged to $65,500 in early trading on Monday, March 4. The move has pushed the asset to its highest price since November 2021 and just 5% away from its all-time high, which also came that month. Moreover, BTC has now gained more than 300% from its cycle low of just below $16,000 in...Read More
The Slovenian energy trading platform – SunContract – launched the first NFT marketplace for solar panels, enabling direct earnings or energy consumption from tokenized solar farms. The project leverages blockchain to democratize renewable energy access, allowing holders to manage their energy assets easily. According to a press release shared with CryptoPotato, the entity has introduced...Read More
During the last several bull markets, at least one type of niche asset class within the cryptocurrency industry has grown to be a major player. The previous run that ended abruptly in 2022 consisted of NFTs and meme coins. With many experts commenting that Bitcoin and the rest of the market has already begun the...Read More
In a move against the Biden administration’s plans to introduce a “digital dollar,” five United States senators have united to introduce legislation prohibiting central bank digital currencies (CBDCs). Led by Senator Ted Cruz, the group, including Senators Bill Hagerty, Rick Scott, Ted Budd, and Mike Braun, introduced the CBDC Anti-Surveillance State Act on February 26,...Read More
Ilya Lichtenstein, the man behind the looting of billions of dollars from Bitfinex, is now helping federal prosecutors build a case against Bitcoin Fog, a crypto mixing service. Lichtenstein pleaded guilty to money laundering charges last year after hacking Bitfinex and getting away with Bitcoin worth $3.6 million. Lichtenstein Testifies in Washington Trial According to...Read More
The ongoing rally is challenging market expectations regarding the impact of spot Bitcoin ETF inflows, which were speculated to propel the leading asset to break all-time highs by the end of March. With Bitcoin exceeding $59,000 on Wednesday, marking a gain of over 5%, indications suggest that a new peak may materialize sooner than anticipated....Read More
The crypto market’s rally clearly indicates that institutions have shown a stronger preference for Bitcoin and Ether, allocating approximately 40% each to these top assets. As of January 31st, 2024, these entities have dedicated 15% to stablecoins and only 5% to alternative coins. A new report by Bybit suggests that institutional portfolios have become significantly...Read More
Some on-chain indicators are flashing signs that Bitcoin (BTC) may be overheating following its rally to the $64,000 price mark, indicating a significant correction could occur soon. According to a weekly report from market intelligence firm CryptoQuant, the rising traders’ unrealized profit margin and the high cost of opening new long positions in perpetual futures...Read More
U.S.-based Bitcoin mining behemoth Marathon Digital has published its quarterly earnings report and has beaten analyst predictions by a good margin. Paradoxically, Marathon’s stock price dipped shortly after the announcement. This is, however, likely a temporary blip. Stunning Financial Results Although Marathon Digital was not necessarily in trouble last year, the crypto winter definitely put...Read More
In February, the crypto industry saw losses totaling approximately $160 million due to exploits, hacks, and scams. The figures represented a slight dip from January despite an increase in prices. According to the latest update by CertiK, exit scams claimed the lion’s share at $58.2 million, followed by exploits at $101 million. Phishing accounted for...Read More
CSOP Asset Management, a capital market firm in Hong Kong, disclosed in an interview with Reuters that its exchange-traded product, the CSOP Bitcoin Futures ETF (3066.HK), has witnessed a surge in assets under management (AUM) over the past five months. The ETF’s Assets Under Management (AUM) has soared five-fold to over $100 million. Rising Trading...Read More
Worrying developments at New York Community Bancorp (NYCB) have several Bitcoin investors anticipating a renewed U.S. banking crisis – which could bring money crashing back into the digital currency. The bank’s stock is down 41% over the past month, including a 28% plunge on Friday. Trading for $3.55 at writing time, it has now reached...Read More
Analysts at crypto intelligence platform Santiment said Bitcoin’s remarkable performance in the 29 days of last month gave leap year a new definition, but the market may be in for a different ride in March. According to the Santiment’s monthly report, several on-chain indicators suggest the market is in a bit of a danger zone...Read More
As Bitcoin surges toward its previous all-time high, industry experts are anticipating a correction before the digital asset can continue its upward trajectory. Mike Novogratz, founder of Galaxy Digital, shared his insights with Bloomberg TV, suggesting that while Bitcoin has soared past the $60,000 mark this week, a correction is likely imminent. Bitcoin Enters “Price...Read More
Coinbase has had a great run recently, topped off with a great Q4 2023 roundup in which the platform announced that it had beaten analyst predictions and was well on track to recovery from crypto winter. However, a technical glitch – which was reportedly caused by high traffic – recently struck the exchange, causing the...Read More
