Energy rivalry between Artificial Intelligence and Bitcoin mining is heating up. As tech firms improve AI, they compete with Bitcoin miners for energy. This competition reshapes US energy consumption, as both sectors have driven unprecedented electrical demand. Related Reading: Elon Musk Wins Legal Battle Over $258 Billion Dogecoin Price Manipulation AI data centers are leading […]
The Cardano blockchain has achieved a significant milestone with the successful implementation of its Chang hard fork, which took place on September 1, 2024, at 21:44 UTC at block number 10764778. This update ushers in the “Conway ledger era,” part of a series of enhancements aimed at decentralizing the governance of the blockchain through the […]
Starting the week on a slightly bearish note, the Bitcoin price dropped 2.81% on Sunday and is currently trading at $57,557. The Bitcoin ETF market puts a bearish gear down amid such market conditions. Last week, between 26th and 30th August, the Bitcoin ETF slid down with a net outflow of $277 million in total. …
For good reasons, a Bitcoin whale known for dumping 467 million worth of BTC tokens in the July crunch is back in the markets. Recently, the whale purchased 1000 Bitcoins from Binance worth almost $58 million. With this purchase, the market witnessed the second such significant action within the last four days, accounting for 2000 …
Dogecoin has become known as one of the altcoins in the crypto market to put on impressive rallies with each bull market cycle. These powerful performances have solidified it as an investor favorite, and the current cycle is no different. With the expectation that the crypto market will see another bull run in the coming […]
The recent post by New World Wealth and Henley & Partners has gained massive attention, as the number of Crypto millionaires has doubled this year. Additionally, on August 31, 2024, Nate Geraci the ETF expert and president at the ETF store made a post on X (previously Twitter) stating that the number of crypto millionaires …
The market’s hostile environment is currently hindering altcoins gaining in the short term. With the broader market down by 2%, LDO losses mounted up to 18% since last week, continuing to end this week with pain for investors in the short term. This led to shaky investor confidence as fear, uncertainty, and doubt plagued the […]
Alexander Lorenzo opens with a bold statement in his new video, claiming that at present altcoins offer one of the most lucrative opportunities for wealth creation, possibly breaking generational poverty. Lorenzo has analyzed every altcoin cycle in crypto history to predict the next big move, revealing some alarming signs. Read this interesting analysis to prepare …
The co-founder & CEO of Helius sparked off a heated debate on X implying that every major layer-2 can ‘technically steal user funds.’ However, Buterin clarified that they cannot unilaterally steal funds since there needs to be an extraordinarily high level of consensus. A security council oversees a chain in case of some issues with …
In a recent conversation with analyst Scott Melker, Jack Mallers, the CEO and founder of Strike, a global Bitcoin app, explained why he is a Bitcoin maximalist. He emphasized that this prediction is grounded in economic fundamentals, including the likelihood of inflation soaring and the impact of civil unrest. Despite some recent outflows from U.S. …
A prominent Pepecoin (PEPE) whale has significantly expanded their portfolio by acquiring a substantial amount of Mpeppe (MPEPE) tokens. This strategic investment comes as Mpeppe (MPEPE) continues to gain momentum, with market analysts predicting a potential 1000% rally in the near future. Here’s a closer look at why this Pepecoin (PEPE) whale is betting big […]
Hamster Kombat, the popular tap to earn telegram game, announced their token generation date 2 days ago. It is going to perform the TGE and much anticipated Airdrop on 26th September. However they have not announced which crypto exchange is going to be the first to have the opportunity to list it. Finally this news …
Ethereum (ETH), the world’s second-biggest cryptocurrency, is experiencing notable selling pressure due to continuous dumping by whales and institutions. Amid this market downturn, whales and Ethereum co-founder Vitalik Buterin have transferred a significant over 15,706 ETH worth $40.13 million in the last 24 hours, as reported by the on-chain analytic firm Lookonchain. Ether Whale Dumps …
The cryptocurrency market has taken another hit, with the overall market cap dipping by 2%. Bitcoin is currently trading around $59,150, raising concerns about whether it can recover in the coming week. Analyst Josh of Crypto World said that Ethereum’s price remains within a larger bearish trend. However, in the short term, the price is …
In an announcement made via X on August 30, Charles Hoskinson, the founder of Cardano, proclaimed the end of the Genesis Keys, a set of cryptographic keys instrumental in the early stages of the blockchain’s development and operation. Hoskinson’s brief yet profound message, “Genesis Keys are dead :) The Age of Voltaire is soon upon […]
In a series of pointed criticisms leveled against the US Securities and Exchange Commission (SEC), pro-XRP lawyer Bill Morgan has highlighted what he views as repeated judicial victory against the SEC’s approach to crypto regulation by enforcement. His remarks draw on several recent cases where federal judges have questioned the SEC’s stance that digital tokens […]
In response to the Biden administration’s intensified scrutiny on the crypto industry, Custodia Bank, a notable Wyoming-based financial institution catering to crypto businesses, has recently undergone a significant restructuring. As reported by FOX Business on Thursday, Custodia Bank has made the decision to lay off nine of its 36 employees, a move aimed at conserving […]
During the early Asian Trading hours, the largest investor of $WIF memecoin borrowed 1.4 Million USDC from Kamino, Solana’s lending, borrowing, and leveraging site. Notably, the whale has spent 1 Million USDC to buy 643,832 Dogwifhat tokens with a trading price of $1.55. Reportedly, the whale now holds 28.66 Million WIF tokens worth $44.13 Million. …
On 29th August, only 1 BTC ETF has recorded a positive inflow. Reportedly, ARK’s “ARKB” has added $5.3 Million whereas 5 ETFs have recorded a neutral flow. Conversely, Fidelity’s “FBTC” has recorded the highest outflow of $31.1 Million, followed by Grayscale’s “GBTC” with $22.7 Million. Blackrock, Bitwise, and Valkriye are among the other losers. On …
Amid high whale activities in the market, a whale recently claimed 30,007 ETH worth almost $78.67 million to deposit 24,007 ETH worth $61 million over Coinbase in the past three days. The whale is now left with a balance of 6,000 ETH worth $15.16 million. At the same time, a new whale address cashed out …
In a recent interview with TIME, Nayib Bukele, El Salvador’s pro-Bitcoin president, assessed the impact of his plan to position the country as a hub for the largest cryptocurrency on the market. While he acknowledged that adoption has not met expectations, he emphasized that the overall results have been “net positive.” Bitcoin In El Salvador […]
In this bearish market sentiment, cryptocurrencies are experiencing significant selling pressure. Amid this ongoing market downturn, on August 29, 2024, Ripple traders booked over $8.25 million in profit, according to the data from the on-chain analytic firm Santiment. XRP Price Under Pressure Historically, significant profit booking often leads to a massive price drop or increased …
Following the recent arrest of Telegram CEO Pavel Durov in France, the messaging platform is facing escalating legal challenges across multiple countries. Local media reports indicate that Indonesia is contemplating a ban on Telegram due to its alleged facilitation of pornography and online gambling activities. Global Scrutiny On Telegram According to a local media report, Indonesian Communication and Informatics Minister Budi Arie Setiadi has voiced strong concerns, stating that the Ministry has already warned Telegram about its content moderation practices. Per the report, Minister Budi Setiadi emphasized that if evidence of illegal content is confirmed, the government would take decisive action to block the platform. This intensifying legal scrutiny comes on the heels of a troubling incident in Central Java, where a 20-year-old resident, identified as “MAFA,” was arrested for allegedly managing a child pornography group on Telegram. The Indonesian authorities are reportedly monitoring the platform for further violations. Related Reading: Solana Price (SOL) Slips: Will a Break Below $140 Trigger More Downside? In France, Durov’s legal troubles have deepened since his arrest at Le Bourget Airport. The Paris prosecutor’s office has reported that he faces 12 serious charges, including complicity in child pornography sales, drug trafficking, fraud, and failure to cooperate with investigations. Durov has since been granted bail under strict conditions: he must pay €5 million, report to police twice a week, and remain within French territory. Paris prosecutor Laure Beccuau confirmed that there are sufficient grounds to investigate Durov on all charges related to his initial arrest. However, the legal challenges for Telegram extend beyond France and Indonesia, as the Indian government has also launched an investigation into the platform. As reported by NewsBTC, authorities in India are examining claims that Telegram is being used for criminal activities, including extortion and gambling. Similar to investigations underway in France and Indonesia, the messaging platform could face potential bans in these countries. TON Price Continues To Struggle Toncoin (TON) plunged about 20% after Durov was arrested outside Paris on August 24, before paring some of those losses. TON’s total value locked (TVL) has fallen to $357 million from a high of $769 reached in July, according to data provider DefiLlama. In the wake of this price crash, certain Toncoin supporters perceived an opportunity amidst the chaos. DWF Labs, a crypto market maker with a stake in the token, seized the moment to invest “millions” of dollars in Toncoin following the decline, as confirmed by co-founder Eugene Ng to Bloomberg. Related Reading: Bitcoin Forecast: Expert Reveals 4 Reasons To Be Bullish On Q4 Despite the efforts to stabilize Toncoin’s value, the cryptocurrency has struggled to regain its footing. The TON price has continued its downward trajectory, showing no signs of recovery with a further 1% drop in the 24-hour timeframe. The token has sustained substantial losses over the past month, amounting to nearly 17%, currently trading at $5.54. In case of further price retracements, bullish investors will need to keep a close eye on the $5.15 and $4.87 marks, the largest support levels for the token on its daily TON/USDT chart. Featured image from DALL-E, chart from TradingView.com
Bitcoin (BTC) has experienced a free fall to $59,000 from $61,000 after gaining 4% in upside momentum during Asian trading hours. However, the massive fall occurred in the past hours, resulting in $9.92 million worth of long positions being liquidated out of $10.20 million liquidation, according to the on-chain analytic firm CoinGlass. Source: Trading View …
As the crypto market approaches a pivotal moment with the upcoming US election in November, former President Donald Trump continues to voice his support with a recent post and the details of his new crypto venture, “World Liberty Financial.” Trump Vows To Make The US A Crypto Capital In a recent video release, Trump articulated […]
For many operators, high market volatility has turned Bitcoin mining into a real rollercoaster. But, some operators enjoy a smooth ride: in just one week, miners reported more than $3.40 million in profits. Related Reading: Crypto Payments Set To Soar? Coinbase CEO Says It’s Just A Matter Of Time This surge in profit comes at […]
The recent controversy surrounding Telegram CEO Pavel Durov is raising alarms within the cryptocurrency community, with some experts suggesting it could be a ‘black swan event’—an unforeseen incident with potentially catastrophic effects. Here’s a breakdown of the situation and its impact on the crypto market. Durov’s Legal Trouble Mounts Pavel Durov is facing multiple legal …
Intersect, a member-based organization within the Cardano ecosystem, has officially announced the scheduled implementation of the Chang Hard Fork on the Cardano mainnet, set to occur on September 1, 2024, at 21:45 UTC. The hard fork marks a major milestone for Cardano’s evolution towards a fully decentralized ecosystem. The decision to implement the Chang Hard […]
In a thread shared with his 538,000 followers on X, crypto analyst Miles Deutscher highlights the vital importance of retail investors to the sustainability of the crypto bull market. To understand the possible return of the crypto bull run, Deutscher believes it is essential to understand what has happened in recent years. Deutscher recalls the substantial rally from March 2020 through November 2021, highlighting the extreme gains made across various altcoins. Understanding The Crypto Bull Run Dynamics “From March 2020 until November 2021, the crypto market rallied 2,672%, with many alts pulling 50-100x+ multiples,” Deutscher states, pointing to a period characterized by significant financial stimulus and increased public interest due to global lockdowns. However, the glory days were short-lived, as Deutscher pointed out, marking the peak of the market in November 2021 followed by a steep decline. The downward spiral was accentuated by the LUNA & UST collapse in May 2022, which not only erased significant market value but also exacerbated the decline across the broader crypto market. “Crypto technically topped in November 2021. But it wasn’t until May 2022 that crypto would be delivered its final death blow: The LUNA & UST collapse,” he explained, illustrating the precariousness of crypto investments during that period. Related Reading: Signs Of A New Crypto Winter? Warren Buffett’s $1 Billion Stock Sales Spark Market Crash Fears The aftermath of these events led to a widespread exodus of retail investors, who were either financially devastated or disillusioned by the dramatic downturns. “If you were burnt financially, you left. If you weren’t burnt financially, you still left (price/time capitulation),” Deutscher explains, capturing the deep-seated anxiety that permeated the retail investor base following the market’s collapse. Despite the challenging environment, 2023 ushered in a new wave of optimism with significant institutional movements, notably BlackRock’s application for a Bitcoin spot ETF in June, which was later approved. “On the 16th of June, BlackRock applied for a Bitcoin spot ETF […] This not only signaled a positive catalyst on the horizon but a paradigm shift in the way BTC was being viewed by major institutions,” Deutscher highlighted, pointing to a critical moment that potentially marked the beginning of a new era for Bitcoin and possibly the broader crypto market. As of January 2024, the crypto market had seen a surge in Bitcoin prices, reaching new all-time highs following the successful launch of the ETF. “Over $17b has flowed into the BTC spot ETFs so far this year,” Deutscher notes, underscoring the significant impact of institutional investment on Bitcoin’s valuation and the broader market sentiment. However, Deutscher tempers expectations regarding the altcoin market, which has not seen parallel success. The lack of a similar rally in altcoins is attributed by Deutscher to the new market dynamics introduced by the ETF, which altered traditional liquidity flows and investment patterns. “The primary driver of this cycle has been the BTC ETF. This is vastly different from the last cycle, where the primary driver was macro conditions,” he remarks. When Will The Bull Run Return? Looking ahead, Deutscher speculates on the conditions that might entice retail investors to return. He emphasizes the critical role of Bitcoin achieving new all-time highs, suggesting that Bitcoin reaching or surpassing $100,000 could ignite renewed interest across the crypto sector. “Yes, many of the aforementioned issues like altcoin dispersion would still exist, but it would definitely pave over some cracks. A BTC rally = media attention, people front running an altcoin rotation, renewed optimism,” he added. Related Reading: New Memecoin Popcat Claws Its Way Up, Dominates Top 100 Cryptos With 62% Rally Deutscher also highlights the natural inclination of humans towards gambling, noting that the thrill of high returns might quickly attract retail investors back to the market if altcoins show sustained rallies. He referenced the Pareto principle to remind followers that significant market gains often occur late in the investment cycle. “80% of gains in a bull market come in the last 20%, of the move. Retail joins the party late. We simply may just be too early (in terms of cycle duration we comparatively still are), Deutscher states. Additionally, he points to the potential of emerging technologies in AI, gaming, and decentralized finance (DeFi) to create compelling new use cases for crypto. He suggested that just a few successful applications could drive widespread adoption, fostering a more sustainable interest in the crypto market. Because of that Deutscher remains optimistic about the return of retail investors. He concludes, “so in conclusion, yes – retail is (mostly) gone. There are valid reasons why, and this cycle is fundamentally different because of them. But it won’t take much for retail to return. And that day may be sooner than you think.” At press time, BTC traded at $59,650. Featured image created with DALL.E, chart from TradingView.com
OpenSea, one of the largest marketplaces for non-fungible tokens (NFTs), found itself at the center of controversy after the Securities and Exchange Commission (SEC) issued a Wells Notice early Wednesday over the alleged classification of NFTs as “securities.” This prompted reactions from prominent figures in the crypto industry, US senators, and market experts, all of […]