Binance, the leading cryptocurrency exchange, has recently made significant updates to its platform in response to current market trends. One of the most recent changes includes the addition of 18 new loanable assets to Binance Loan, allowing users to borrow funds using their crypto holdings as collateral. Among the newly added cryptocurrencies are meme coins
Crypto
Ethereum has been experiencing a phase of sideways consolidation after a recent dip towards the critical support level of $3K. The cryptocurrency seems to be stuck within a range of $3K to $3.7K, and it appears that volatility will remain low unless it breaks out in one direction or the other. A detailed analysis of
Shiba Inu (SHIB) recently experienced a price drop, with the current trading price at around $0.00002734. This marks a 3% decline on a daily scale and a 20% drop on a monthly basis. Despite this negative trend, analysts are predicting a potential bullish trend in the near future. Analysts’ Predictions Prominent analysts such as Rekt
The recent approval of spot Bitcoin ETFs has significantly impacted the cryptocurrency market, according to Fred Thiel, the CEO of Marathon, America’s largest crypto mining firm. Thiel noted in an interview with Bloomberg that the ETF approval has attracted capital into the market, hastening what would typically have been the post-halving rally. This acceleration has
Since the launch of U.S. Bitcoin spot ETFs, they have seen an impressive $12.3 billion in net inflows over the span of just three months. But the real question remains – how much of an impact have these ETFs had on the broader Bitcoin market as a whole? Glassnode analyst James Check delved into this
A cryptocurrency investor known as “Sell When Over” recently revealed a substantial loss of $800,000 resulting from two suspicious Google Chrome browser extensions. The investor initially detected a loss of $500,000 from various wallet applications and suspected that they were targeted via an extension attack. Compromise Investigation Upon further investigation, the victim discovered that their
In the first quarter of 2024, Ethereum and its Layer 2 scaling solution, Polygon, have emerged as the top choices for new users in the blockchain space. According to a recent report by Flipside, these two platforms have seen a significant influx of users, surpassing other EVM chains in terms of cumulative new users since
The Bitcoin halving is an event that occurs approximately every four years and is designed to slow down the production of new BTC. This mechanism ensures that the last Bitcoin will be mined over a century from now, despite there already being over 19.6 million in circulation. Historical Context In the past, Bitcoin halvings have
Ethena Labs, the creators of USDe, have recently announced the incorporation of Bitcoin (BTC) as backing into their synthetic dollar-pegged offering. This strategic move aims to boost USDe’s supply from its current $2 billion mark. Highlighted in an April 4 announcement, Ethena Labs emphasizes the importance of incorporating BTC as a backing asset due to
The cryptocurrency market has recently experienced a period of correction, with Bitcoin (BTC) being one of the digital assets significantly affected. On a seven-day scale, BTC’s price has dropped by around 6%, currently trading at approximately $65,400. One possible reason for this heightened volatility and declining value could be attributed to profit-taking by long-term holders.
The recent analysis by industry analytics provider Glassnode indicates a significant shift in the behavior of long-term holders of Bitcoin. They have started distributing BTC and selling to new investors at higher prices. This activity has led to an injection of new capital into the asset class, ultimately increasing the realized cap to new heights.
March proved to be an incredibly lucrative month for the Bitcoin mining industry, with miners collectively earning over $2 billion for securing the leading cryptocurrency network. Data from Blockchain.com reveals that miners raked in an average of $65.23 million per day throughout the month of March, setting a new record for their daily earnings. The
In March 2024, blockchain security firm PeckShield released a report highlighting a troubling trend in the world of cryptocurrencies. The report revealed that there were over 30 incidents of hacks, resulting in approximately $187.29 million in losses. This surge in crypto hacks is particularly concerning as it can have a significant impact on investor confidence
Argentina has recently taken significant steps towards regulating the cryptocurrency industry within its borders. The government has introduced legislation requiring all local crypto firms to register with a new regulatory body dedicated to the sector, or face the consequence of ceasing operations entirely. This move aligns with recommendations from the Financial Action Task Force and
Bitwise Asset Management, a key player in the cryptocurrency index fund market, has urged the U.S. Securities and Exchange Commission (SEC) to postpone the approval of a spot Ethereum Exchange-Traded Fund (ETF) until December. Chief Investment Officer Matt Hougan shared with Forbes his concerns that the industry’s current emphasis on Bitcoin-related products may be taking
Shiba Inu (SHIB) saw a remarkable surge in token burns during March, with billions of tokens taken out of circulation. The burning mechanism was a key focus, with over 15.5 billion assets destroyed in just one month. This spike in burning activity, especially on March 8 when almost 14 billion tokens were burned, represented a
With the widespread boom in the cryptocurrency market, there has been a significant increase in crypto-related crimes worldwide. One of the most targeted groups in these scams are elderly individuals who are often manipulated by fraudsters into exchanging their funds for crypto by offering unrealistic promises of high investment returns. Authorities in South Korea recently
In response to the recent attacks on Israel, both the US and UK authorities have taken decisive action against entities suspected of financing terrorism through cryptocurrency. The US Treasury’s Office of Foreign Assets Control (OFAC) and the UK’s Office of Foreign Sanctions Implementation (OFSI) have imposed sanctions on two individuals and three entities allegedly involved
The Financial Conduct Authority (FCA) in the UK is making moves to regulate meme-based marketing in the financial services sector. With the rising popularity of cryptocurrencies and other investments, the FCA has released guidelines for both financial services firms and social media influencers to ensure transparency and prevent misleading advertising. The FCA’s latest report underscores
Tigran Gambaryan, a prominent figure at Binance, has recently taken legal action against the National Security Adviser (NSA) and the Economic and Financial Crimes Commission (EFCC) in Nigeria. As an American citizen, Gambaryan is fighting against his alleged wrongful detention by Nigerian authorities. According to Gambaryan’s lawyer, T.J. Krukrubo SAN, the Nigerian government is using
Kerrisdale Capital recently released a report arguing that MicroStrategy’s shares have become significantly overvalued in comparison to the actual value of Bitcoin. The company pointed out that the premium at which MicroStrategy’s shares are trading, at over two and a half times the spot price of Bitcoin, is unjustified. In fact, Kerrisdale Capital believes that
Prisma Finance recently fell victim to a hack where $11.6 million was stolen from the decentralized finance protocol. The hacker, however, claimed that the exploit was a “whitehat rescue” and expressed interest in returning the funds. This indicative behavior of the hacker raises questions about the motives behind the attack and whether the funds will
Guy Turner, the host of Coin Bureau, has made a bold prediction regarding SOL’s potential breakout above the $300 mark. According to Turner, SOL has shown promising signs on both weekly and monthly charts in the early months of 2024. He describes the cryptocurrency as “incredibly bullish” and highlights the significant resistance at the $300
Matt Hougan, the Chief Investment Officer of Bitwise, a crypto index fund and asset management firm, recently shared his insights on the future of spot Bitcoin exchange-traded funds (ETFs). According to him, he believes that inflows into Bitcoin ETFs will continue for years as more investors and institutions adopt these products. During a 20-day road
The recent accusations against major cryptocurrency exchange KuCoin and its founders, Chun Gan and Ke Tang, have shed light on the alleged failure to implement anti-money laundering (AML) and know-your-customer (KYC) procedures. Prosecutors in the United States have claimed that this negligence allowed the platform to become a hub for laundering illicit funds from criminal
Over the weekend, the crypto world was abuzz with news of a massive transfer of funds from the fifth richest Bitcoin address. A staggering $6 billion worth of Bitcoin was moved to three new wallets, leaving just a fraction of the original funds in the original address. This unprecedented transfer comes at a time when
Ark Invest recently made headlines with their decision to sell 74,291 Coinbase shares, valued at $20.8 million, across three of their exchange-traded funds. This move comes shortly after the firm sold over $100 million worth of Coinbase shares last week as the price of COIN reached new yearly highs. One of Ark Invest’s strategies is