[ad_1] Ethereum (ETH) which is addressed as ultra-sound money due to its deflationary supply method, now appears to be facing new challenges that have prompted some analysts to question whether this narrative still holds. A prominent crypto analyst, Thor Hartvigsen, recently highlighted this issue in a detailed post on X, where he discussed the current state of Ethereum’s fee generation and supply dynamics. Is ETH No longer Ultra-Sound money? Hartvigsen pointed out that August 2024 is “on track to be the worst month in terms of fees generated on the Ethereum mainnet since early 2020.” This decline is largely attributed…
Author: dfrancis36
[ad_1] As the United States Federal rate cut is fast approaching, analysts at QCP Capital, a global digital asset trading firm and market maker has now shared their prediction on how this development could impact Bitcoin price. According to the analysts, the upcoming U.S. non-farm payroll report and Friday’s GDP data will play crucial roles in shaping Bitcoin market sentiment. Notably, these economic indicators are expected to offer greater clarity on whether the Federal Reserve will commence a rate-cutting cycle in its next Federal Open Market Committee (FOMC) meeting on September 18. Economic Data To Influence Bitcoin’s Market Movements The…
[ad_1] Holders of the Artificial Superintelligence Alliance (FET) token have turned their attention to a new, rapidly growing project: Mpeppe (MPEPE). As Mpeppe (MPEPE) gains momentum, FET investors are recognizing its potential and making significant moves to secure their positions in this emerging token Artificial Superintelligence Alliance (FET): Riding the Nvidia Wave The Artificial Superintelligence Alliance (FET), known by its token FET, has been in the spotlight following its recent performance in the crypto market. After a successful merger between Fetch.ai, SingularityNET, and Ocean Protocol, the ASI project has seen a resurgence in interest, particularly in the wake of Nvidia’s…
[ad_1] Certain on-chain metrics suggest that blockchain scaling solution Polygon (MATIC) could be on the verge of a price reversal, according to the crypto analytics firm Santiment. Santiment notes MATIC recently witnessed a spike in active addresses and dormant coin movement. “Polygon has been among the many networks declining since crypto’s retrace began back in March. However, a notable spike in on-chain activity may be a sign that a MATIC reversal may be brewing soon. Active addresses and dormant coin spikes are common signals preceding this.” MATIC is trading at $0.423 at time of writing. The 28th-ranked crypto asset by…
[ad_1] Pepecoin (PEPE), a staple in the meme-coin community, has already proven its potential to generate substantial returns. Now, there’s a new contender in town: Mpeppe (MPEPE), a revolutionary ICO priced at just $0.001777. This promising new token is poised to offer investors a unique blend of meme culture and decentralized finance (DeFi), making it a compelling choice for those looking to take their wealth to the next level. Pepecoin (PEPE): A Proven Powerhouse in the Meme-Coin Market Pepecoin (PEPE) has earned its place as a favorite among meme-coin enthusiasts, thanks to its strong community support and viral appeal. What…
[ad_1] Data shows the Bitcoin diamond hands have continued to sit tight recently as almost a third of the supply hasn’t been moved in five years. Bitcoin Has A Notable Part Of Its Supply Dormant Since Over Five Years In a new post on X, the market intelligence platform IntoTheBlock has discussed about how the most dormant BTC supply has been looking like recently. The supply in question is the one made up of the Unspent Transaction Outputs (UTXOs) that have aged past the five-year mark. In other words, this supply includes the coins of the investors who have been…
[ad_1] On-chain data shows the Bitcoin supply sitting on exchanges has reached a new low for the year as investors continue to withdraw their coins. Bitcoin Exchange Reserve Has Been Riding A Downtrend Recently As explained by an analyst in a CryptoQuant Quicktake post, the BTC Exchange Reserve has continued its drawdown recently. The “Exchange Reserve” here refers to an indicator that keeps track of the total amount of Bitcoin that’s currently sitting in the wallets of all centralized exchanges. When the value of this metric goes up, it means the investors are depositing a net number of tokens to…
[ad_1] Dell Technologies’ Q2 2024 earnings results had the crypto industry on the edge of its seat, anticipating the company might become the latest to add Bitcoin (BTC) to its balance sheet. No Bitcoin Purchases For Dell Yet Despite CEO Michael Dell’s cryptic posts on social media platform X highlighting Bitcoin’s digital scarcity, Dell Technologies has yet to add any BTC to its balance sheet, Q2 earnings results confirm. Michael Dell’s recent series of posts on X indicated that the billionaire CEO might be bullish on the long-term potential of the leading digital asset. Michael Dell reposting acclaimed Bitcoin bull…
[ad_1] New data unveils that BlackRock’s iShares Bitcoin (BTC) Trust (IBIT) has suffered outflows for just the second time since being launched in January. According to new information from London-based investment management firm Farside Investors, BlackRock – a firm with over $10 trillion in assets under its management – saw its BTC exchange-traded fund (ETF) weather its second day of outflows ever earlier this week. On August 29th, IBIT saw $13.5 million worth of outflows. The last time the ETF saw outflows was on May 1st when it saw $36.9 million leave its coffers. However, May 1st is the only…
[ad_1] Bitcoin (BTC), after briefly reclaiming the $61,000 price mark yesterday has now fallen below it continuing its bearishness as of today. Amid this negative price action, the asset’s hash price, a key metric reflecting miners’ profitability, has reached historically low levels. According to a recent analysis by Woominkyu, a CryptoQuant analyst, this significant drop in hash price might signal a prime buying opportunity for investors. Understanding The Hash Price And Its Relation To Buying Opportunity Woominkyu revealed in his analysis that the hash price, which measures the relationship between Bitcoin’s price and the revenue miners generate per unit of…