[ad_1] On-chain data shows the demand from retail investors for Bitcoin has slumped to 3-year lows, a sign that may be bearish for BTC. Bitcoin Retail Investor Transfer Volume Has Plummeted Recently As explained by CryptoQuant founder and CEO Ki Young Ju in a new post on X, retail investor demand has seen a sharp decline recently. The “retail investors” here refer to the smallest investors in the Bitcoin market. The transfer volume corresponding to them is generally used to track the demand for using the cryptocurrency that’s present among any cohort. In the case of retail investors, their transactions…
Author: dfrancis36
[ad_1] The Chicago Board Options Exchange (CBOE) has confirmed the launch date for Spot Ethereum ETFs, revealing when five Spot ETH ETFs will commence trading in the crypto market. CBOE Finalizes Launch Date For Spot Ethereum ETFs On July 19, the CBOE released a new issue notification on its official website concerning the launch of Spot Ethereum ETFs trading. According to the notification, five Spot ETH ETFs will begin trading on the Chicago Board Options Exchange on July 23, 2024, pending regulatory effectiveness. Previously, analysts, including Bloomberg Senior ETF analyst, Eric Balchunas, had predicted that Spot ETH ETFs could start…
[ad_1] This Friday, the first South Korean crypto regulatory framework has gone into effect after the one-year preparation period. The new law requires firms in the country to comply with stricter requirements to protect investors and their assets. South Korea’s New Crypto Regulatory Framework On July 18, 2023, South Korea’s Financial Services Commission (FSC) passed the Virtual Asset User Protection Act to reflect “key provisions” proposed under 19 pre-existing legislative crypto bills pending at the National Assembly. The new Crypto Act was enacted in response to the growing industry and the need to set a clear and comprehensive regulatory framework.…
[ad_1] A widely followed cryptocurrency analyst and trader is expressing bullish sentiment on a low-cap memecoin built on the Solana (SOL) blockchain. The analyst pseudonymously known as Bluntz tells his 265,500 followers on the social media platform X that PONKE (PONKE) is exhibiting a bullish structure after breaking out of an ascending channel and then turning the upper boundary of the ascending channel into a support level. Source: Bluntz/X PONKE is trading at $0.681 at time of writing, up by around 7,238% from the January 3rd low of $0.00928. Turning to Bitcoin (BTC), the widely followed trader who regularly applies…
[ad_1] The largest virtual bank in Hong Kong, ZA Bank, broke new ground earlier today by offering exclusive reserve bank services to stablecoin issuers, a move in line with Hong Kong’s recent regulatory advancements in cryptocurrency. This initiative is part of the territory’s new stablecoin licensing regime, which requires crypto stablecoin operators to deposit reserve assets with local banks. Notably, this rule appears to “strengthen the stability” and “security” of cryptocurrency in the region. It also reflects a general trend that fintech innovation continues to be interwoven with more traditional financial regulation. First Crypto Stablecoin Issuer Already Active According to…
[ad_1] The recent positive price movement in XRP appears to have triggered a new wave of investors’ interest regarding the coin. XRP has surpassed the largest crypto asset by market cap, Bitcoin, in trading volume across exchanges in South Korea, indicating a shift in market dynamics in the country. With fresh optimism in the cryptocurrency sector, XRP surpassing Bitcoin in this important metric demonstrates its increasing relevance in the market. XRP Trading Volume Smashes Bitcoin In Korea On Thursday, XRP once again displayed its prominence in the crypto market by attracting a significant portion of the overall trading activity in…
[ad_1] The Bitcoin price has quickly recovered from its recent dip to a six-month low of $53,500 on July 5th, reclaiming the $66,000 level and setting its sights on retesting its all-time high of $73,700 reached in March. This resurgence comes as major airlines, medical facilities, corporations, and police forces worldwide grapple with a massive information technology (IT) disruption affecting Microsoft’s cloud computing services. Bitcoin Price Unaffected By Global IT Outage Cybersecurity firm CrowdStrike shed light on the cause of the outages, attributing them to a “routine software update” that went wrong. To reassure the public, CrowdStrike emphasized that the incident…
[ad_1] Bitcoin is stable when writing, in an uptrend, and technically around all-time highs, looking at how prices have evolved over the past five years. Despite the recent contraction forcing the world’s most valuable coin to spot rates, exciting trends are developing, pointing to confidence, especially among whales. Whales Rapidly Accumulating Bitcoin According to the IntoTheBlock data on July 19, whales are doubling down. As data shows, the number of addresses holding at least 1,000 BTC are rapidly buying, scooping more coins and pushing the figure to a two-year high. This swell in buying pressure means that whales, mainly comprising…
[ad_1] This week, the dog-themed sensation Dogwifhat (WIF) has recovered from its drop below the $2 support zone. The Solana-based memecoin flipped Ethereum’s Layer-2 (L2) Arbitrum (ARB) and is currently testing the $2.5 resistance level. However, a crypto analyst has warned investors of a possible retrace for WIF. Related Reading WIF Puts Its Hat Back On Dogwifhat became the memecoin sensation of 2024’s first quarter (Q1), giving returns of over 2,000% earlier this year. The Solana token reached an all-time high (ATH) of $4.8 in March but has declined 45% since then. Despite this, investors remain bullish on the memecoin,…
[ad_1] Dogecoin has reversed over 50% of its gains earlier in the week as investors look to be taking profits. DOGE whales, on the other hand, are going against the profit taking trend to increase their holdings. This whale accumulation was noted on social media platform X by crypto analyst Ali Martinez. According to Santiment data shared by the analyst, some DOGE whales have bought up over 60 million DOGE in the last 24 hours. This on-chain activity has fueled optimism among DOGE holders as a revelation of continued bullish momentum. Dogecoin Whale Analysis Dogecoin has witnessed a buying activity…