After experiencing a significant downtrend and period of correction, Ethereum’s price found support at the $1.6K level, coinciding with the 200-day moving average. The buying pressure at this level triggered a rapid reversal and an upward trend towards the critical resistance zone at $2K. Additionally, the price surpassed the 100-day moving average at $1.8K, indicating
Crypto
Mitsubishi UFJ Financial Group (MUFG), the largest financial institution in Japan, is reportedly considering issuing global stablecoins via its blockchain platform, Progmat. MUFG has already shown interest in introducing such tokens tied to the value of the Japanese yen. However, the company is now in talks with industry leaders and other companies on minting stablecoins
Over the past 24 hours, Bitcoin’s price attempted to reach $31K and maintained its dominance over the rest of the market. However, the bulls were unable to sustain the price above $31K, and sellers pushed it below this level to where it currently trades at around $31,600. It’s worth noting that Bitcoin’s dominance, which tracks
The crypto market has seen a flurry of activity in recent days, with various coins and tokens experiencing double-digit returns. However, Ethereum (ETH) and Solana (SOL) have experienced a slowdown in their growth, leading investors to question whether their recent momentum was only temporary. At the time of writing, ETH is hovering around the $1,870
Shiba Inu, the Dogecoin-killer, experienced a surge on Thursday following the announcement of a new upgrade in the ecosystem. One of the lead developers revealed that Shibarium would soon enable users to link non-fungible tokens (NFTs) to real-world assets. This will provide proof of ownership and authentication for physical items. Shibarium is a layer 2
Wimbledon, the oldest tennis tournament, will be offering artificial intelligence (AI)-based audio commentary and player analysis for fans during the upcoming competition. The initiative is the result of a collaboration between The All England Lawn Tennis Club and International Business Machines (IBM). The AI-powered audio commentary tool will allow fans to observe key moments of
Binance, a cryptocurrency exchange, has disputed claims from the Securities and Exchange Commission (SEC) that the company mismanaged user assets. In response, Binance’s U.S. subsidiary has filed a motion stating that the SEC’s claims are misleading and have the potential to harm its customers. Contradictory Statements from the Regulator Binance’s U.S. subsidiary has highlighted contradictory
According to the latest ASX Australian Investor Study, approximately 15% of Australians have invested their wealth in cryptocurrencies. This figure is similar to the 17% recorded during the bull market in 2021. The study showed that young Australians are more inclined towards the cryptocurrency industry, with 31% of them being HODLers. The study also highlights
ChainGPT is expanding its on-chain presence and increasing its interchain capabilities by bridging its $CGPT token to the Ethereum Network. The bi-directional bridge was developed through a partnership with ChainPort, KuCoin, BitGet, and other top-tier Web3 partners, enabling users to transfer their $CGPT seamlessly between the ETH and BNB/BSC networks. The implementation of the bridge
BlackRock, the world’s largest asset manager, has made a significant stride towards its involvement in the cryptocurrency industry by filing for a Bitcoin Spot ETF with the US Securities and Exchange Commission. BlackRock’s success rate with the SEC has been unmatched so far, and despite many other companies’ previous applications for such a product failing,
Kaiko, a crypto market data provider, has conducted an analysis which revealed that USD Coin (USDC) has become the most liquid stablecoin on centralized exchanges (CEXs). The asset has approximately $38 million bids preventing a .1% price deviation. USDC’s liquidity is followed by that of Tether (USDT), Binance USD (BUSD), True USD (TUSD), and Dai
A new report by Coinbase, the largest cryptocurrency exchange in the United States, has highlighted the uncertainty surrounding the impact of Bitcoin halving events on the asset’s performance. While the halving is seen as a positive development as it is believed to enhance Bitcoin’s prospective scarcity and support its supply-demand dynamics, it is difficult to
Bitcoin has experienced two days of consecutive price increases, marking the first time in a while. During this period, the cryptocurrency rose from under $25,000 to almost $27,000. The second-largest crypto, Ethereum (ETH), has also experienced similar performance, as it now sits at $1,750. Most other altcoins are also in the green. Despite this, last
Binance, the world’s largest cryptocurrency exchange by trading volume, has launched a new tool called “Bitcoin Transaction Accelerator” to enable users to confirm their transactions on the Bitcoin network more quickly, regardless of any potential network congestion issues. The new solution was launched on June 15, and it will only be available for verified Binance
Binance, a leading cryptocurrency exchange, has asked Binance.US management to reduce the size of its workforce across the division as it foresees protracted and expensive litigation with the US Securities and Exchange Commission (SEC). In a letter to employees, Binance warned that the litigation with the SEC is likely to be lengthy and costly. The
Do Kwon, co-founder of Terraform Labs, has been arrested in Montenegro and faces possible extradition to both South Korea and the United States for numerous fraud charges. Kwon has been in custody since March of this year, and the Montenegrin authorities are considering extending his detention for another six months to decide on his extradition.
Michael Egorov, the founder of decentralized exchange (DEX) and automated market maker protocol Curve, has repaid $1.35 million of a loan on the decentralized lending platform, Aave. Egorov made the move as Curve’s native token (CRV), which was used as the loan’s collateral, declined significantly in the past week, reducing the loan’s health factor and
Parcl, a blockchain-powered real estate trading platform, has announced the launch of Austin, Texas, to its growing list of tradable city indexes. The addition of Austin, one of the fastest-growing housing markets in the United States, brings Parcl’s total number of tradable markets to 16, more than doubling its market pool for investors. The platform
Santiment, a blockchain analytics provider, reported that the current supply of Bitcoin on cryptocurrency exchanges stands at 6.4%, which is the lowest level since February 2018. The data reveals that crypto traders are continuing to withdraw their Bitcoin holdings from exchanges in favor of self-custody methods. This trend could be a result of the recent
Coinbase’s chief legal officer, Paul Grewal, has updated the situation on the U.S. Securities and Exchange Commission’s (SEC) response to the company’s repeated calls for regulatory clarity. In a recent filing, Grewal reported that the regulator has launched an outright attack on the digital asset industry this year and “repeated the fallacy that they haven’t
Tether has announced its plan to coordinate with a third-party exchange to conduct a chain swap to convert 750 million USDT from Tron to Ethereum ERC20. The company has stated that the total supply of USDT will remain unchanged during this process. A chain swap process allows traders to move their cryptocurrencies from one blockchain
BlockFi, the bankrupt lending platform, has announced that it needs to carry out updates before customers can withdraw their crypto assets held in wallet accounts. The platform has stated that this “work” should be completed by summer, and it will add new product functionality to its platform before allowing withdrawals. New Withdrawal Process BlockFi has
Mark Cuban, an American businessman, philanthropist, and television personality, has criticized the United States Securities and Exchange Commission (SEC) for providing misleading guidance on which digital currencies could be categorized as securities. The SEC has received criticism for its unfriendly attitude towards the cryptocurrency industry, having recently filed lawsuits against two of the largest exchanges
JP Morgan has agreed to pay $290 million to settle a class-action lawsuit with the victims of Jeffrey Epstein, a former financier and convicted sex offender. The plaintiffs accused JP Morgan of laundering money, enabling sex trafficking, and aiding Epstein while he was still a client of the bank. The largest bank in the United
Artificial intelligence (AI) has been increasingly adopted in recent years, with AI-based chatbots, such as OpenAI’s ChatGPT, gaining popularity. The cryptocurrency industry has also been impacted by AI, with a number of AI-related cryptocurrencies experiencing a surge in value at the beginning of 2023. Now, a gamified version of the Turing Test is revealing fascinating
The XRP price has been on a solid upward trend, but it recently reached a significant resistance region at $0.55. This resulted in a surge of volatility in the past few days, leading to a rejection toward the 100-day moving average and the channel’s middle trendline. Currently, the XRP price is consolidating without providing any
The United States is losing its share of the cryptocurrency market due to unclear regulations in the industry. According to a CryptoQuant research report, over half of the bitcoin (BTC) held by crypto firms for their clients has moved to offshore and international exchanges. BTC reserves on US-based crypto exchanges have fallen to 2017 levels,