The recent price drop of Bitcoin, more than 15% down from its mid-March peak, has brought the cryptocurrency to a ten-day low of under $62,000 on Monday morning. Analysts from ‘Stockmoney Lizards’ noted that the halving has passed, yet Bitcoin continues to show a trend of red candles, signaling a correction phase. They predict a
Crypto
Following the recent halving event, Bitcoin saw a drop in price to $62,500, causing concern among investors. Despite this dip, analysts are predicting a potential rally in the near future. This optimism is fueled by the increasing involvement of financial institutions in the crypto market and historical trends that suggest a resurgence after halving events.
The recent CryptoQuant report has shown a significant drop in the portion of Bitcoin miner revenue generated from transaction fees. After reaching a peak of 75% on April 19, transaction fees now only account for 35% of total miner revenue. This decline comes after the most recent halving event, which saw miner block rewards cut
Upbit, a prominent cryptocurrency platform in South Korea, has been at the center of attention due to its significant role in the country’s trading activities. With over 80% of South Korea’s trading volume, Upbit has established itself as one of the top five exchanges globally. However, recent developments in cryptocurrency regulations in South Korea have
Institutional investors in Canada have significantly increased their exposure to cryptocurrency assets in the past year compared to the previous bull market cycle. A recent survey conducted by accounting firm KPMG shed light on this growing trend among institutional investors. The consulting group’s bi-annual survey, titled “Institutional Adoption of Cryptoassets,” received responses from 65 participants,
In recent times, the meme coin sector has seen significant growth, with popular tokens like Dogecoin (DOGE) and Shiba Inu (SHIB) leading the pack. Newer tokens such as dogwifhat (WIF) and Pepe (PEPE) are also gaining traction within the community. This surge in popularity has caused the overall market capitalization of meme coins to exceed
The Bitcoin network recently achieved a significant milestone with its daily transactions hitting a record high of 927,000. This surpasses the previous record of 724,000 set back in December 2023, showcasing the increasing adoption and utility of cryptocurrencies. The introduction of Runes, a new token standard on the Bitcoin blockchain, played a pivotal role in
Jabara Igbara, better known as Jay Mazini on Instagram, has recently made headlines for all the wrong reasons. Once boasting about being a crypto millionaire on social media, Igbara has now been sentenced to seven years in prison by U.S. District Judge Frederic Block. This sentence comes as a result of wire fraud and money
Bitcoin (BTC) has experienced significant pullbacks since the bear market in 2022, with losses of up to 23% at times. Recognizing the depth of these declines can be crucial for investors looking to maximize their returns. Rebounds from these drops often result in substantial gains, making it essential to pay attention to the market movements.
The cryptocurrency market is witnessing a surge in meme coins such as Bonk Inu, dogwifhat, and others. These meme coins are gaining popularity and experiencing significant price increases. While leading meme coins like Dogecoin and Shiba Inu are showing more modest gains, newer entrants are grabbing the spotlight with daily price spikes. In recent trading
Block Inc., led by Jack Dorsey, has recently announced a groundbreaking development in the world of Bitcoin mining. The company has successfully completed the design of its three nanometre (3nm) Bitcoin mining chip, which is set to revolutionize the mining industry. This achievement marks a significant milestone for Block Inc.’s mining project and signals a
Venezuela’s state-owned oil and gas company, PDVSA, is reportedly looking to accelerate its use of cryptocurrency, particularly USDT, the largest stablecoin by market capitalization. The company started integrating USDT for oil sales in 2023 and has now implemented a new policy requiring new customers to have a digital wallet holding cryptocurrency. This move comes in
The recent Bitcoin halving event on April 20 has significantly impacted miners’ profitability. The reduction in block rewards from 6.25 BTC to 3.125 BTC has forced miners to find alternative ways to remain profitable in the current market environment. With the decrease in daily asset production, miners are now relying more on transaction fees and
As the crypto markets display signs of recovery over the weekend, the focus shifts towards a busy economic calendar in the United States. The Federal Reserve’s key inflation metric takes the spotlight this week, potentially influencing monetary policy moving forward. The impact of this metric on market sentiment cannot be understated. New Home Sales Figures
The recent Bitcoin halving event has caused a significant reduction in miners’ block rewards, leading to a decrease in the daily issuance of BTC. This reduction is expected to result in a price rally for the cryptocurrency market. While the focus is primarily on Bitcoin, there is also speculation about how meme coins, such as
The NFT trading space experienced a significant surge in volumes during the first quarter of 2024, reaching a total of $4.7 billion across the top 10 marketplaces. Leading the pack was Blur, which boasted $1.5 billion in volume and a 27.6% market share. However, Magic Eden emerged as a major competitor, surpassing Blur in March
MicroStrategy founder Michael Saylor has been active in selling off shares of his company, making use of a stock-sale agreement that he entered into last year. This agreement allowed him to sell up to 400,000 shares by April of this year. So far, he has successfully managed to cash in 370,000 shares, amounting to $372.7
Ethereum has recently experienced a sharp downturn, but it has found crucial support in a specific zone. This zone is made up of the 100-day moving average at $3050 and the price range between the 0.5 and 0.618 Fibonacci levels ($3190 and $2972). This zone is pivotal as it attracts significant demand, potentially preventing further
The recent occurrence of Bitcoin’s fourth halving event has brought significant attention to the cryptocurrency market. This event, reducing the block reward from 6.25 BTC to 3.125 BTC, has major implications for the industry. The reduction in daily BTC issuance to around 450 Bitcoin has sparked discussions about the long-term impact on BTC’s volatility and
Binance, one of the largest cryptocurrency exchanges in the world, has made headlines for its return to the Indian market after facing a ban by the Indian government. The exchange has agreed to pay a significant penalty of around $2 million to re-enter the market under the oversight of the Financial Intelligence Unit (FIU). This
As the fourth Bitcoin halving approaches, scheduled for later this week, Bitcoin miners are facing a significant drop in stock prices. Key players in Bitcoin mining such as Marathon Digital (MARA) and Riot Blockchain (RIOT) have experienced substantial declines, with their stock prices dropping by approximately 53% and 54%, respectively, from their peak values earlier
Ethena, a synthetic dollar protocol on the Ethereum blockchain, has introduced the stablecoin USDe. The goal of USDe is to function as a censorship-resistant and scalable form of digital money pegged to the US dollar. Despite its rapid growth in market capitalization to over $2 billion since its launch, there are significant risks associated with
Recently, the X account of renowned actor Tom Holland fell victim to a hacking incident. This breach, impacting his profile with over 7 million followers, was utilized by the attackers to promote a fraudulent cryptocurrency and NFT scheme. The compromised account was manipulated to announce a false partnership with the reputable global cryptocurrency exchange Binance,
The recent approval of spot Bitcoin and Ethereum exchange-traded fund applications in Hong Kong by regulators has prompted discussions about the potential growth of the local ETF market. Bloomberg ETF analyst Eric Balchunas has expressed skepticism about the market’s performance, citing the absence of major players and the possibility of high fees as significant obstacles.
The recent news of Binance executive Nadeem Anjarwalla facing extradition from Kenya after escaping custody in Nigeria has sent shockwaves through the cryptocurrency community. Anjarwalla’s alleged involvement in the manipulation of the Naira and illicit funds transactions through Binance has raised concerns about the company’s compliance and internal governance. Legal Proceedings and Investigations The collaboration
Bitcoin analyst Willy Woo recently made a bold prediction regarding the potential price of Bitcoin (BTC) in the future. According to him, BTC could reach $91,000 at the bottom of a bear market and $650,000 at the peak of a bull cycle. These staggering figures are based on the full deployment of cryptocurrency exchange-traded funds
In response to the increasing number of cryptocurrency-related crimes in Hong Kong, Bitrace has taken proactive steps to address the issue. The data analysis company recently held training sessions for members of the Hong Kong Police Force on on-chain fund tracking. This initiative is part of Bitrace’s Corporate Social Responsibility efforts, designed to enhance law