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NFT Sales Hit $95.42M With Ethereum Dominating, but Market Participation Shrinks
10.8.2024
Between Aug. 3 and Aug. 10, 2024, non-fungible token (NFT) sales experienced a 6.29% increase from the previous week, hitting a total of $95.42 million. However, the number of participants in the NFT market saw a sharp decline, with buyers dropping by 86.34% and sellers by 77.25%. NFT Market Sees...
Crypto Biz: Massive inflows to exchanges amid market turbulence
9.8.2024
This week’s Crypto Biz examines Hong Kong’s crypto ETF market, Morgan Stanley’s green light for Bitcoin funds, Xapo Bank license in the UK, and Core Scientific’s billionaire deal with CoreWeave
Bloomberg’s Mike McGlone: Recession Fears Could Drive Gold to $3,000
9.8.2024
In a recent interview with Kitco News, Mike McGlone, Senior Commodity Strategist at Bloomberg Intelligence, warned that the current economic situation might surpass the 2008 financial crisis in severity. Drawing comparisons to pre-2008 indicators, McGlone highlighted significant risks of increased...
Bitcoin bear trap over? BTC price fractal hints at parabolic move next
9.8.2024
Bitcoin still faces significant resistance at $62,000, and if it breaks, it would liquidate over $845 million of leveraged shorts
Ethereum Shows Bullish Momentum Amid Market Volatility; Can ETH Hit $3K?
9.8.2024
With the volatility in the markets, Ethereum (ETH) has been on a rollercoaster ride as its price has…
Cryptoquant Insights Warn: Bitcoin’s MVRV Ratio Signals Bearish Turn
9.8.2024
The price of bitcoin (BTC) recently fell sharply due to unfavorable macroeconomic factors, with key support levels being tested once again. Analytics provided by Cryptoquant’s Institutional Insights report reveal that the market sentiment has turned bearish, with increased selling pressure...
Plan B Predicts Bitcoin Still on Track to Hit $100K in 2024 Despite ‘Early’ Bull Market
9.8.2024
The pseudonymous bitcoin analyst known as Plan B, known for his work on the “stock-to-flow” (S2F) bitcoin price model, believes bitcoin’s market may have entered a bullish phase prematurely. While he suggests that the market has been “front-running,” Plan...
Stablecoin Economy Swells by $1.53B in 3 Days Amid Market Rebound
9.8.2024
With a 5% upswing in the crypto economy over the past day, following a broad market recovery, the stablecoin economy has ballooned by $1.53 billion in just three days. A notable $750 million of that growth occurred within the last 24 hours alone. Tether’s $1.26B Growth Fuels Stablecoin...
Hong Kong virtual banks eye Web3 growth despite regulatory hurdles
9.8.2024
Despite capturing just 0.3% of retail bank assets, Hong Kong's virtual banks are exploring opportunities in the Web3 space
Tether mints $1.3B USDT since market bottom — Can it push Bitcoin above $65K?
9.8.2024
The newly minted stablecoins could help push Bitcoin’s price above the $65,000 resistance, which is the short-term whale holder's realized price
Turkey sees surge in crypto license applications amid new regulations
9.8.2024
Turkey's crypto economy is poised for growth as local and international companies show keen interest ahead of new legislation
Bitcoin new addresses hint at ‘renewed interest’ from retail investors
9.8.2024
Retail investors could be coming back into the market after a recent upward trend in new Bitcoin addresses
Coinbase Takes Aim at CFTC's Definition of 'Gaming' in Proposed Prediction Market Rules
9.8.2024
Coinbase argues the definition is vague, and urges the CFTC to make determinations on a contract-by-contract basis rather than broad categorization
Bitcoin Breaks Past the $60K Threshold, Jumps 26% in 3 Days
9.8.2024
On Thursday, bitcoin (BTC) leaped to a high of $62,729, representing a more than 26% jump from its Aug. 5 low of $49,577, recorded just three days earlier. The broader cryptocurrency market, which encompasses over 10,000 digital currencies, saw an 11.29% rise over the past 24 hours, with many...
Following Court Ruling, XRP Price Skyrockets as South Korea Leads the Charge
8.8.2024
On Aug. 8, following the imposition of a $125 million civil penalty on Ripple Labs by a district judge, the firm’s executives and community celebrated the outcome as a “victory.” This led to an uptick in XRP’s trading volume and price. In the 24 hours leading up to...
Why is Ethereum losing market share to Bitcoin?
8.8.2024
Ethereum’s underperformance against Bitcoin is largely due to competition from Solana and the weaker-than-anticipated debut of its spot ETFs
Why is Ethereum losing market share to Bitcoin?
8.8.2024
Ethereum’s underperformance against Bitcoin is largely due to competition from Solana and the weaker-than-anticipated debut of its spot ETFs
Bitcoin Nears $60K as Crypto Bounce Accelerates, but Recovery Might Be Choppy
8.8.2024
While the crypto rally was broad-based with ETH, SOL, NEAR gaining 8%-10%, prices rarely go up in a straight line following major capitulation events such as Monday's crash, one observer noted
Elixir’s Yield-Bearing DEUSD Stablecoin Sees 12,071% Growth in 24 Hours
8.8.2024
Yield-bearing stablecoins are gaining traction, with the modular DPoS network Elixir recently introducing a new stablecoin, DEUSD, that offers holders the opportunity to earn returns from the crypto asset. Since Aug. 7, DEUSD’s market value has grown from $952,443 to $115.92 million....
Bitcoin Smashes $59,800 as $212M in Liquidations Rattle Traders
8.8.2024
The crypto economy experienced a 5.6% boost over the past 24 hours, reaching $2.07 trillion by Thursday. Bitcoin has soared past the $59,800 mark, while ethereum has exceeded $2,500 per coin. This rapid climb on Aug. 8 resulted in $212.59 million in derivatives liquidations across the entire crypto...