[ad_1] A quant has pointed out how the trends in the BitMEX exchange reserve have affected the Ethereum price during the past few years. BitMEX Ethereum Whales Have Shown Smart Money Behavior In Recent Years In a CryptoQuant Quicktake post, an analyst discussed a pattern in the ETH exchange reserve of the BitMEX platform. The “exchange reserve” here refers to an on-chain metric that keeps track of the total amount of Ethereum that’s sitting in the wallets of any given centralized exchange. When the value of this metric rises, investors will make net deposits to the platform right now. As…
Author: dfrancis36
[ad_1] As the crypto market experienced a bearish correction, experts forecasted a subsequent bullish phase. Now, with the market correction underway, leading asset Bitcoin has surpassed $63,000, signaling a resurgence in momentum for other coins. Among these coins, Bitgert exchange has stood out, demonstrating resilience during bearish phases and steadily gaining traction. Leveraging its layer 1 technology, Bitgert has captured the attention of the crypto market, attracting a growing number of investors. So, what factors are driving the potential price surge for Bitgert? Bitgert: Pioneering Layer 1 Chain Project Bitgert distinguishes itself as a layer 1 chain crypto project with…
[ad_1] In a landmark case brought by the US Department of Justice (DOJ), two individuals have been convicted of manipulating the price of a crypto asset deemed a “security” and allegedly conspiring to defraud investors by purchasing Hydrogen Technology’s HYDRO cryptocurrency. The federal jury’s verdict resulted in significant prison terms for the defendants and established a crucial legal milestone. For the first time in a federal criminal trial, the jury confirmed that a cryptocurrency qualifies as a security and that manipulating its price constitutes securities fraud. Manipulation Scheme Allegations According to court documents and trial evidence, Kane, the co-founder and CEO…
[ad_1] Exodus, a leading developer of cryptocurrency wallets, has secured approval for listing its common stock on the NYSE American exchange, marking a significant milestone for the company. The stock, identified by the ticker symbol EXOD, is slated to commence trading on May 9. JP Richardson, CEO and Co-founder of Exodus, expressed enthusiasm about the listing, emphasizing its potential to enhance long-term value for shareholders by bolstering the company’s presence within the investor community and augmenting liquidity. The NYSE American, formerly known as the American Stock Exchange (AMEX), caters to companies with smaller market capitalization compared to its parent exchange,…
[ad_1] In an interview with Frank Chaparro on “The Scoop,” Ripple President Monica Long elaborated on the company’s plans to launch a US dollar stablecoin (RLUSD) and discussed the potential for an XRP exchange-traded fund (ETF). This comes after gaining significant regulatory clarity from the US courts last July regarding XRP’s status, not as a security but as a commodity, which has catalyzed new business opportunities for Ripple in the United States. Ripple’s Strategic Vision For RLUSD According to Long, the decision to introduce a stablecoin is driven by the needs of Ripple’s existing payment clients and banks, emphasizing the…
[ad_1] Bitcoin-based crypto investments have witnessed another week of outflow in what was an unpleasant week for Bitcoin and other cryptocurrencies. Bitcoin investors, in particular, were disappointed as they watched the price of the world’s biggest asset decline during the week, temporarily falling below $60,000. According to recent inflow data from CoinShares, this correction also flowed into crypto investment products. Notably, crypto investment products registered $584 million outflows last week to extend outflows to $1.2 billion in two weeks. True Correction Is Underway For Bitcoin According to the CoinShares report, most of the outflows were concentrated toward Bitcoin, with the…
[ad_1] Dogecoin (DOGE), the leading meme cryptocurrency by market capitalization, is showing signs of entering another bullish phase reminiscent of its spectacular rise in early 2021. According to CoinDesk, Dogecoin’s market cap currently stands at approximately $22 billion, with a remarkable year-to-date price increase of over 70%, significantly outstripping Bitcoin’s (BTC) near 50% gain. A critical technical indicator, the ‘golden cross’, is nearing confirmation for Dogecoin. This occurs when the 50-week simple moving average (SMA) crosses above the 200-week SMA, signaling potential long-term upward momentum. Such crossovers are often used by momentum traders to pinpoint optimal market entry and exit…
[ad_1] Analysts at global asset management firm, Bernstein have expressed bearish sentiment for Spot Ethereum ETFs prospects. According to Bernstein analysts, Gautam Chhugani and Mahika Sapra, Spot Ethereum ETFs may see less demand than Spot Bitcoin ETFs due to a lack of staking features. Analysts Predict Sluggish Demand For Spot Ethereum ETFs In a new research report published on Monday, Bernstein analysts suggested that Spot Ethereum ETFs will likely experience a wane in investor demand following its launch. The analysts painted a bearish picture for the recently approved investment asset, noting that the enthusiasm for Ethereum Spot ETFs might be…
[ad_1] Dalmas, a seasoned crypto reporter, brings a unique perspective to the industry. His specialization in NFTs, blockchain, DeFi, and blockchain news for NewsBTC, combined with a background in mechanical engineering and over a decade of experience in journalism, has allowed him to craft over 10,000 news and feature articles over the past eight years. His diverse range of topics, including technology, Forex, and finance, reflects his comprehensive understanding of the crypto landscape. His technical expertise and analytical skills have been recognized and featured by leading news outlets such as Investing.com, CoinTelegraph, Entrepreneur, Forbes, and other authority sites. Notably, he…
[ad_1] Marathon Digital Holdings, Inc. (NASDAQ:MARA), one of the leading bitcoin mining companies, experienced a slight downturn in its stock price, dropping about 1.5% in after-hours trading on Thursday. This decline came in response to the company’s failure to meet revenue expectations for the first quarter, primarily due to several operational challenges. During the first three months of the year, Marathon Digital mined a total of 2,811 bitcoins, marking a significant 34% decrease from the previous quarter. The reduction in bitcoin production and subsequent revenues were attributed to a series of unforeseen issues, including equipment failures, maintenance of transmission lines,…