APhone, a prominent provider of cloud-based infrastructure, has recently joined forces with the NFT marketplace Magic Eden to offer their highly coveted Access Pass. This pass not only provides users with entry to the APhone virtual smartphone app but also includes a range of exclusive benefits. APhone’s cloud-based infrastructure, driven by Aethir, is a standout
The digital asset investment products sector has experienced significant outflows for the fourth consecutive week, amounting to a total of $251 million. This marks a concerning trend in the market, indicating a lack of investor confidence in the short term. The outflows are particularly noteworthy as they are the first “measurable outflows” from newly issued
Coinbase’s chief legal officer, Paul Grewal, recently made a bold statement calling out US SEC Chair, Gary Gensler, for allegedly misleading the market about the legal status of cryptocurrencies. Grewal pointed out that Gensler’s claims about certain digital assets being classified as securities are false, as the SEC’s own lawyers have previously acknowledged that cryptocurrencies
In the volatile world of meme coins, Aqua Cat on SOL has made a splash with a staggering 33,895% overnight price increase. This unique cat-themed coin stands out from the crowd by actually being a lovable sea-otter masquerading as a cat in the high-octane Solana meme coin market. Trading at a market price of $0.000910
After their much-anticipated launch on April 30, Hong Kong’s Bitcoin ETFs faced their first setback with the China Asset Management Bitcoin ETF experiencing its first cumulative daily outflow on Monday. The outflow amounted to $4.9 million according to Farside data, while other Hong Kong-based products remained stagnant. Despite garnering $262 million in assets under management
Bitcoin (BTC) has recently had a slowdown in price after bouncing back above the $60,000 mark. This lackluster movement is believed to be a result of decreased demand for Spot Bitcoin ETFs. While these ETFs initially saw billions of dollars in net inflows in the first quarter after launch, the demand has since declined. Research
The CEO of Binance, Richard Teng, has publicly spoken out against the detention of Tigran Gambaryan, an executive of the exchange, in Nigeria. Teng expressed his concerns in a blog post, stating that Gambaryan’s detainment was unjust and could potentially set a dangerous precedent for companies worldwide. It is alarming to invite a company’s employee
Fantasy Top is a groundbreaking crypto-based fantasy football-style game that has taken the world by storm. Operating on the Blast network, the game revolves around popular crypto influencers and their real-world social media engagement. Players are tasked with creating lineups of influencer NFT trading cards to compete against each other. The innovative aspect of this
Ethereum, like many other cryptocurrencies, has been navigating through a bearish market recently. However, while the price of Ethereum has shown a slight increase, there is an underlying trend that is significantly affecting the altcoin’s economic model. The burn rate of Ethereum’s ETH has hit an annual low in April, primarily due to a decrease
Cardano has recently shown signs of recovery from its April lows, with the price maintaining a strong momentum above $0.45. While some investors are optimistic about the altcoin going on a rally from here, not everyone shares the same sentiment. One crypto analyst, known as ‘More Crypto Online’, has expressed his belief that the ADA
Cryptocurrency analyst and trader Rekt Capital has recently brought attention to an intriguing discovery regarding Bitcoin’s price trend. His analysis suggests that the current price action of Bitcoin is closely mirroring historical patterns from a bull cycle that occurred eight years ago. According to Rekt Capital, the resemblance of Bitcoin’s current price trend to that
Amid the Securities and Exchange Commission’s recent crackdown on crypto firms, Bitwise Investments CIO Matt Hougan suggested that the regulatory environment may be inadvertently giving US crypto exchange Coinbase an unfair advantage. In a social media post, Hougan pointed out that the current regulatory challenges create an “artificial moat” for Coinbase, potentially allowing the platform
Robinhood’s crypto division recently received a Wells Notice from the US Securities and Exchange Commission (SEC), signaling that the Commission staff had been investigating Robinhood’s cryptocurrency listings, custody of cryptocurrencies, and platform operations. The chief legal officer at Robinhood Markets expressed disappointment with the SEC’s decision, emphasizing that the assets listed on their platform are
Robinhood Markets Inc. has found itself in hot water with the Securities and Exchange Commission (SEC) after receiving a Wells Notice on May 4. The notice indicated that the SEC staff was considering recommending legal action against the company for alleged violations of Sections 15(a) and 17A of the Securities Exchange Act of 1934. This
Investing in the crypto market can be both exciting and nerve-wracking. The recent drop in the price of FRIEND token, the cryptocurrency for the decentralized social media platform Friend.tech, serves as a reminder of the volatility of the market. With a sudden hit of 4.3% in just one hour, investors are seeing firsthand how quickly
In recent years, there has been a significant increase in interest surrounding metaverse commerce, which involves the selling of physical goods through virtual platforms. This concept has recently garnered even more attention with the announcement of retail giant Walmart’s decision to sell products on the popular gaming platform, Roblox. Before delving into Walmart’s strategic move,
Blockchain analytics company Elliptic recently released groundbreaking research that showcases the potential of artificial intelligence (AI) in detecting money laundering in Bitcoin. By collaborating with researchers from the MIT-IBM Watson AI Lab, Elliptic was able to successfully identify illicit proceeds, uncover new patterns of money laundering transactions, and pinpoint previously unknown illegal wallets using a
A recent class-action lawsuit has been filed against Coinbase Global, its subsidiaries, and CEO, Brian Armstrong. The lawsuit claims that several digital assets listed on Coinbase are actually securities, violating state securities laws. This legal battle raises questions about the transparency and compliance of the popular cryptocurrency exchange. The plaintiffs in the lawsuit argue that
The surge in popularity of meme coins in the cryptocurrency market has sparked concerns among industry experts. Chris Dixon, a general partner at Andreessen Horowitz (a16z), has criticized the US regulatory system for allowing meme coins to flourish while legitimate cryptocurrency companies and blockchain projects face regulatory hurdles. Dixon highlights the speculative nature of meme
Cardano founder Charles Hoskinson recently hinted at the possibility of teaming up with Bitcoin Cash (BCH) to enhance its performance. Hoskinson posted a poll on X, seeking feedback from the community on the idea of a partnership between Cardano and Bitcoin Cash. He suggested incorporating technologies like proof of useful work (PoUW), non-interactive proofs of
Cardano (ADA) has been experiencing a lackluster price action recently, but analyst Ali Martinez has a different perspective. Martinez believes that ADA might be gearing up for a parabolic run based on a detailed price analysis. Despite the current correction path that Cardano has been on since peaking at $0.79 in March, Martinez points out
10x Research, a crypto research platform, recently highlighted that the Bitcoin Relative Strength has surged to 40%. According to their analysis, Bitcoin has historically shown potential rallies whenever its relative strength index (RSI) drops to 40%. This indicates that there is a possibility of BTC rallying again following its recent decline. The research platform, in
In a shocking turn of events, Alexander Vinnik, the Russian national behind the operation of the once-prominent crypto exchange BTC-e, has pleaded guilty to charges of money laundering conspiracy in the United States. Vinnik’s BTC-e was a major player in the cryptocurrency market between 2011 and 2017, processing billions of dollars in transactions with over
Coinbase, the leading U.S. crypto exchange, experienced a significant growth in revenue during the first quarter of 2024, reaching a total of $1.6 billion. This marks a 72% increase compared to the previous quarter, showcasing the company’s ability to capitalize on the bullish crypto market. The net income for Coinbase also saw a substantial increase,
Financial technology giant Block, led by X co-founder Jack Dorsey, has made a groundbreaking decision to allocate 10% of its profits from bitcoin-related products into monthly BTC purchases. In a recent Q1 2024 earnings report, Dorsey explained the rationale behind this strategic move, emphasizing the significance of bitcoin as the ideal decentralized open protocol for
The recent surge in the Bitcoin price above $60,000 has sparked a shift in investors’ position and sentiment, according to on-chain analytics site Santiment. Traders on the Binance platform are transitioning from liquidated shorts to long positions following the price increase. While this shift may indicate renewed optimism in the cryptocurrency market, Santiment has issued
Despite the recent correction in the cryptocurrency market leading to multi-month low prices for major assets like Bitcoin and Ethereum, XRP has shown remarkable resilience. While other tokens saw significant drops, XRP only briefly dipped below $0.50 before bouncing back, currently up 3% on a two-week scale according to CoinGecko’s data. Analysts are optimistic about