CFTC chair Rostin Behnam said the agency is open to serving as a primary regulator for crypto during a Senate Agriculture Committee hearing on digital commodities oversight. The hearing, held on July 10, broadly concerned the CFTC’s request for more regulatory authority. Senator Roger Marshall asked Behnam whether it would be “simpler” to make the […]
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Bitcoin is encouragingly firm at press time, finding its footing above $58,000 and inches away from the critical $60,000 psychological level. After a volatile week, the stability is a massive boost for bulls. While there are pockets of strength, sellers are still in control. For the uptrend to take shape and buyers to build momentum, […]
Just days ago, it appeared that Joe Biden was poised to move past calls from within his party to step aside. Not anymore.
Bitcoin's failure to surpass $58,000 could lead to further declines, impacting investor sentiment and delaying potential bullish momentum.
The post Bitcoin needs to surpass $58,000 to restore bullish trend appeared first on Crypto Briefing.
On-chain data shows that Chainlink investors have been realizing significant losses recently, a sign that the price plunge has put fear into their minds. Chainlink FUD Could Lead Towards Bottom Formation According to data from the on-chain analytics firm Santiment, LINK investors have just shown their largest capitulation event of the year. The indicator of relevance here is the “Network Realized Profit/Loss,” which keeps track of the net amount of profit or loss that Chainlink traders are realizing right now. The metric works by going through the blockchain history of each coin sold to see what price it was moved at before this. If this previous price for any coin was less than the spot price it’s being transferred at now, then the coin’s sale is realizing some profit. Related Reading: Bitcoin Now Forming Pattern That Last Led To It Blasting Off Similarly, transactions of coins of the opposite type would lead to loss realization instead. The indicator adds up these profits and losses for the entire network and then calculates their difference to find the net situation. When the value of the Network Realized Profit/Loss is positive, it means the investors as a whole are realizing profits. On the other hand, the negative metric suggests that loss-taking is the dominant form of selling in the market. Now, here is a chart that shows the trend in the Chainlink Network Realized Profit/Loss over the past few months: As is visible in the above graph, the Chainlink Network Realized Profit/Loss has seen a negative spike recently, suggesting that LINK investors have realized some large losses. This significant loss-taking spree from the LINK traders has come as the cryptocurrency’s price has gone through a significant drawdown over the past few weeks. The coin is down almost 10% in the last seven days alone. Given this timing, it would appear that these investors have been scared by the bearish price action so much that they have decided to exit the market at a loss. In the same chart, the analytics firm has also attached the data for another metric, the Age Consumed, which keeps track of whether dormant coins are moving. Related Reading: Solana Mirroring 2021 Bullish Pattern, Crypto Analyst Reveals It would seem like this indicator also spiked alongside the loss-taking from the investors, implying that even some holders previously sitting tight have been shaken out by the price plunge. This FUD in the market can benefit Chainlink, as historically, the asset has been more likely to bottom out when fear is ripe among the investors. As Santiment highlighted in the graph, a red spike in the indicator also proved bullish for LINK in April. LINK Price Chainlink is trading around $12.8 when writing, down around 3% over the last 24 hours. Featured image from Dall-E, Santiment.net, chart from TradingView.com
About 1,800 people were laid off, but the company plans on hiring about the same number of replacements.
On-chain Highlights DEFINITION: The total amount of fees (USD Value) paid to miners. Issued (minted) coins are not included. Bitcoin’s total transaction fees exhibit significant fluctuations over time. The charts illustrate a substantial spike in transaction fees around April this year. The peak around this period suggests increased network activity and congestion, which directly results […]
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Three key Ethereum price metrics suggest ETH is primed for a rally above $3,400.
Payeer was fined approximately $10 million after it allegedly allowed transfers to sanctioned banks.
Anita Dunn, a senior adviser to Joe Biden, attended the roundtable in her personal capacity amid reports the US President was considering changing his position on crypto.
Los Alamos National Laboratory will test GPT-4o in its labs to accelerate bioscience safety research.
Web3 integration in gaming could revolutionize player engagement, game economics, and developer opportunities, driving mainstream adoption.
The post “Web3 will be a fundamental element of all future games,” says OKX exec appeared first on Crypto Briefing.
Ripple CEO Brad Garlinghouse emphasized the need for substantive action in crypto regulation following a pivotal roundtable discussion with key industry and government figures. The event — hosted by Congressman Ro Khanna (D-CA) — gathered prominent figures such as entrepreneur Mark Cuban, Coinbase Chief Legal Officer Paul Grewal, and Circle Chief Strategy Officer Dante Disparte. […]
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The stunning fall of Sam Bankman-Fried’s (SBF) once-mighty FTX exchange, in November 2022, is still causing havoc in the crypto space. Nearly two years later, the legal reckoning is still ongoing as former FTX executives Nishad Singh and Gary Wang are ready to face punishment for their part in the multi-billion dollar scam. Related Reading: […]
After the U.S. Department of Energy’s (DOE) first attempt to survey crypto mining companies about their energy usage was kneecapped by a lawsuit, the department is getting ready to try again – but this time, it’s seeking input from crypto industry participants.
Recent blockchain movements sparked "irrational" fears, offering a buying opportunity for investors, NYDIG's Greg Cipolaro said.
An Ethereum whale has caused panic among community members following a recent transaction suggesting they might be looking to offload their holdings. This comes amid a recent prediction by research firm Matrixport that Ethereum’s price could significantly rebound from its current price level. Ethereum Whales Transfers 11,215 ETH Onchain data shows that the Ethereum whale transferred 11,215 ETH ($34.3 million) to the crypto exchange Coinbase. A trader usually makes such a move when selling these tokens, and considering the amount of tokens involved, such a sale could significantly impact ETH’s price. However, data from the market intelligence platform IntoTheBlock shows that there might be a demand for these tokens if, indeed, this whale is looking to offload their tokens. Related Reading: 83% Of All Bitcoin Holders Still In Profit Despite Drop Below $60,000 There has been an increase of 132% in the large holders’ netflow to exchange netflow ratio in the last seven days, which suggests that Ethereum whales are actively accumulating more ETH. The flow metrics also paint an accumulation trend among Ethereum holders, with inflow volume into exchanges down by over 11% in the last seven days. During this period, the outflow volume from these exchanges has increased by 3%, further confirming that Ethereum investors are looking to hold their positions and accumulate more ETH at this point. This is undoubtedly a positive development for Ethereum’s price, which could witness a significant rebound thanks to this wave of accumulation. Research firm Matrixport also predicted that ETH’s price would rebound from its current price level thanks to the Spot Ethereum ETFs, which they claimed could launch as early as this week. While that remains uncertain, market experts like Bloomberg analyst James Seyffart have suggested that it shouldn’t be long before these Spot Ethereum ETFs begin trading. This is because fund issuers have implemented most of the comments that the Securities and Exchange Commission (SEC) had on their S-1 filings. ETH Is Primed For A Rally Crypto analyst Leon Waidmann mentioned in an X (formerly Twitter) post that Ethereum is primed for a rally. He made this assertion based on Ethereum’s dwindling supply. He noted that 40% of Ethereum’s supply is locked up, with 28% staked and the other 12% in smart contracts and bridges. Additionally, Waidmann expects this supply to continue to reduce once the Spot Ethereum ETFs begin trading, with institutional investors taking a huge chunk of the supply off exchanges. Based on this, Ethereum could rally on the back of the supply and demand dynamics since demand is bound to outpace supply at some point. Related Reading: Bitcoin Crash: Here’s What The Data Says About Buying The Dip Crypto analyst Follis mentioned that Ethereum’s chart looks identical to Bitcoin’s just before it pumped over 200% last year. He suggested that the Spot Ethereum ETFs could be the catalyst that sparks a similar rally for ETH. Featured image created with Dall.E, chart from Tradingview.com
A wallet owned by the bankrupt hedge fund Three Arrows Capital purchased an NFT via a three-year-old offer.
The post Goldman Sachs Reveals Secret Crypto Plans -Three Projects Set to Shake! appeared first on Coinpedia Fintech News
Goldman Sachs dives into crypto with three new tokenization projects, redefining investment strategies in digital finance.
Bitcoin whales have become accumulators again, but analysts say BTC is still at risk of another sharp correction.
Gaming is a social endeavor, so winning means cooperating with your friends in quests or beating the player on the other screen, and telling the world about your achievements, says Allen Ng, Co-Founder of OpenSocial Protocol.
A crypto analyst has declared Solana to be one of the best coins, highlighting the cryptocurrency’s previous price movements, which are marked by upsides and its potential for a major bullish rally. Solana Gets Best Coin Status Solana, the fifth largest cryptocurrency by market capitalization has attained a new title as “one of the best […]
Despite recent market volatility, a significant portion of crypto investors remain optimistic, indicating potential resilience and long-term confidence.
The post Crypto investors majorly bullish despite recent pullbacks: CoinGecko survey appeared first on Crypto Briefing.
The products could include an RWA marketplace and will focus on the United States and Europe.
Ethereum, mirroring the performance of Bitcoin and other top altcoins, is back above $3,000, days after the fall below $2,800. As the second most valuable coin recovers, injecting optimism among crashed token holders and traders, a close above $3,200 will be crucial in catalyzing demand. Ethereum Rising: Will Bulls Push Above $3,200? According to IntoTheBlock on July 10, if Ethereum edges above the $3,200 level, it will be a massive development for traders. When this happens, an estimated two million entities who traded ETH at this price point will be in the money. Therefore, if prices retest this level, those who went long can exit at break even. Alternatively, other “diamond hands,” expecting more gains on the horizon, can double down and ride the expected leg up. Related Reading: Avalanche Aims Higher As Price Continues To Gain Pace Above $23.50 Thus far, there are hints of strength. However, though sellers are still in control, a breach of $3,300 will be crucial in the short to medium term. The $3,300 level, looking at the ETHUSDT candlestick arrangement in the daily chart, is previous support, but it is now resistance. A breakout, ideally with rising volume, will likely serve as a base for more gains, lifting the coin towards a key liquidation level at $3,700 and later $3,900. Conversely, if sellers take over, reversing recent gains and aligning with the July 4 and 5 losses, a drop below $2,800 will signal trend continuation. Looking at candlestick arrangements, Ethereum will dump to new multi-week lows in that event, even dropping to $2,500. Eyes On Spot ETFs, Whales Accumulating As ETH Becomes Scarce Overall, analysts are optimistic, expecting Ethereum to float higher. The anticipated launch of spot Ethereum exchange-traded funds (ETFs) in the coming days is a big catalyst behind this bullish outlook. Like how to spot Bitcoin ETFs opened the floodgates for institutional exposure in the world’s most valuable coin, the same inflow will likely be seen in ETH. With institutional demand, supports think ETH will tear higher, breaching $4,100 and registering new 2024 highs in the coming months. Related Reading: Big Rally Coming For Chainlink? Analyst Predicts Double-Digit Surge Interestingly, even the spot Ethereum ETF launch expectations do not seem to change traders’ outlook. On-chain data reveals that bullish sentiment is at a one-year low, pointing to caution among ETH holders. Meanwhile, as on-chain data illustrates, ETH outflows from exchanges have increased recently. All exchanges, including Binance and Coinbase, control 10.17% of ETH in circulation. Parallel data also shows that another chunk, representing 28% of all ETH in circulation, is staked. Feature image from DALLE, chart from TradingView
Bitcoin’s recovery faces selling near $60,000, indicating that bears remain active at higher price levels.
While some industry attendees felt the session was productive, it did little to convince anyone that the Biden Administration has changed its tune on crypto.
Bitcoin journalist Joe Hall tests Lugano, Switzerland, to see if it truly merits the title of the world’s most crypto-friendly town.
The bulk of the $90 million reported came from “digital asset advisory.”
In this week's blockchain tech newsletter, we're highlighting the firm Polychain's accusation against a former general partner over an alleged ethics breach, along with Ethereum co-founder Vitalik Buterin's speech in Brussels and Bitcoin's Saxony problem.