[ad_1] Bitcoin (BTC) has recently struggled to regain bullish momentum, remaining in a consolidation phase just above the crucial $60,000 support. Despite reaching an all-time high three months ago, the largest cryptocurrency witnessed a dip to as low as $59,500 on Wednesday due to increased selling pressure from miners. BTC Selling Spree The ongoing miner capitulation, the longest observed since the summer of 2022 before the FTX implosion, indicates the Bitcoin Halving supply-squeeze effect. Crypto analyst Ali Martinez noted that Bitcoin miners have sold more than 2,300 BTC in the past 3 days, amounting to approximately $145 million. Related Reading…
Author: dfrancis36
[ad_1] The crypto industry is experiencing a significant surge, with analysts predicting that it will soon outperform the early growth of the internet. This article explores the factors driving the crypto industry boom and its potential to reshape the financial landscape. The Rise of the Crypto Industry According to a recent report by Architect Partners, the crypto industry is on the verge of a major boom, driven by increased adoption and technological advancements. The report highlights that the growth trajectory of the crypto industry is now outpacing that of the early internet, suggesting a robust future for digital assets. Factors…
[ad_1] Bitcoin is facing significant headwinds as the US Federal Reserve maintains a stringent approach to controlling inflation. On Tuesday, July 2, Federal Reserve Chairman Jerome Powell conveyed cautious optimism about recent inflation data but reiterated the need for sustained improvement before considering rate cuts. The recent readings suggest the market is back on a disinflationary path, Powell stated, but it needs to see sustained progress towards the 2% target. The Fed’s primary inflation measure, the Personal Consumption Expenditures (PCE) price index, has shown a decline, rising by 2.6% over the past year, down from about 4% a year ago.…
[ad_1] The American movie star Sydney Sweeney gets her X account hacked. Hacksters raise $13M in half an hour, dumping the coin minutes later. Rapper Iggy Azalea mocks Sweeney after she regains her access to X. As celebrities jump on the Solana meme coin bandwagon, more and more famous people are getting hacked every day. Their X followers are usually the ones to take the hit due to their involvement in questionable meme currencies being promoted by fraudsters. This time, famed American actor Sydney Sweeney woke up to find her X account hacked. The cybercriminals were quick enough to launch…
[ad_1] British mega bank Standard Chartered has made a bullish prediction for Bitcoin (BTC), the world’s largest cryptocurrency. The multinational bank has projected that Bitcoin will surge as high as $100,000 from its current price of above $60,000. Bitcoin To Reach $100,000 By US Election Day In a Tuesday note, Standard Chartered’s head of forex and digital assets research, Geoffery Kendrick predicted that Bitcoin could see its price rallying to $100,000 by the United States (US) election day in November. He also disclosed that the pioneer cryptocurrency is poised for “a fresh all-time” by August 2024. Related Reading Kendrick’s bullish…
[ad_1] DeFi tokens have experienced a significant plunge, dropping between 10-20% amid weak crypto price action this week. This downturn in decentralized finance (DeFi) tokens highlights the volatility and challenges within the broader cryptocurrency market. DeFi Tokens Face Steep Declines The DeFi sector, known for its decentralized financial products and services, has seen some of its prominent tokens suffer substantial losses. Leading the decline is Pendle (PENDLE), which has experienced a sharp drop. The overall sentiment in the cryptocurrency market remains bearish, contributing to the steep declines in DeFi tokens. New data from CoinDesk shows that DeFi tokens, including those…
[ad_1] Shiba Inu marketing lead, Lucie has made a cryptic announcement to the SHIB community, indicating that something “special” was set to take place and highlighting the potential for more SHIB token burns. Exciting Surprise Ahead For Shiba Inu In a recent X (formerly Twitter) post, Lucie teased about a major surprise set to commence in the Shiba Inu ecosystem. While she left out considerable details about this special event, Lucie disclosed that she was working closely with Shibacals Collaboration Studio to make the exciting surprise happen. Shibacals is a studio that produces and delivers quality merchandise and authenticates collectibles…
[ad_1] Matter Labs has drawn backlash for comparisons made to its multichain architecture. Matter Labs’ chain verification claims have become clouded in suspicion Matter Labs continues to be the subject of scrutiny among peers in recent weeks. Flying jabs are commonplace in every competitive space, and the burgeoning Ethereum Layer 2 ecosystem is no different as leading scaling solution providers square off for supremacy. Amid the frequent squabbles, Matter Labs, the developer of the popular zkSync Era chain and the ZK Stack, has often found itself at the center of controversy. On Tuesday, July 2, the firm unveiled its Elastic…
[ad_1] The on-chain analytics firm Santiment has revealed the altcoins that are currently in the historical buy zone according to a fair value model. A Large Amount Of Altcoins Are Currently Near The Opportunity Zone In a new post on X, Santiment talked about what the various assets in the cryptocurrency sector are looking like right now based on their Market Value to Realized Value (MVRV) ratios. The MVRV ratio is an indicator that keeps track of the profit/loss status of the addresses on any given network. When the value of this indicator is greater than 1, it means the…
[ad_1] Robinhood Markets Inc. (NASDAQ:HOOD) is considering offering cryptocurrency futures in both the United States and Europe. This potential expansion was first reported by Bloomberg, citing anonymous sources familiar with the matter, as the plans have not yet been made public. Expanding Crypto Offerings According to these sources, once Robinhood completes its $200 million acquisition of Bitstamp Ltd. next year, the trading platform plans to leverage Bitstamp’s licenses to offer perpetual futures for Bitcoin and other cryptocurrencies in Europe. Additionally, Robinhood is planning to introduce CME-based futures for Bitcoin and Ether in the United States. However, the plans are still…