The SEC has withdrawn the case to prove Ethereum is a security. Now that the waters have been cleared, what is ahead for Ether’s price?
The post Beercoin Down by 80%: Party Seems To Be Ending for Solana-Based Meme Coin appeared first on Coinpedia Fintech News
LookonChain’s analysis recently reported that another major wallet associated with the Beer Coin is on a selling spree, causing the price to plummet by over 80% in the last few days. Despite Beer Coin’s initial excitement and strong community, it now seems to be the end. Recently, the coin was listed on the Raydium decentralized exchange …
Onchain Highlights DEFINITION: The MVRV Z-Score evaluates whether Bitcoin is overvalued or undervalued relative to its “fair value”. Instead of using a traditional z-score method, the MVRV Z-Score uniquely compares the market value to the realized value. When the market value, measured as network valuation by spot price multiplied by supply, is significantly higher than […]
The post Early 2024 MVRV Z-Score spike signaled possible correction phase for Bitcoin appeared first on CryptoSlate.
The post Ethereum DeFi Sector Poised for Strong Growth, Says Legendary Analyst appeared first on Coinpedia Fintech News
Renowned analyst and co-founder of Syncracy Capital, Ryan Watkins, has identified a significant opportunity in the Ethereum DeFi sector, suggesting that current market conditions present the strongest setup for DeFi since 2020. His analysis highlights the potential for a surge in Ethereum’s decentralized finance ecosystem. But the big question is when DeFi will become too …
The post Memecoins in Deep Distress: While FLOKI, WIF, BONK, and PEPE Plunge Hard, It Could be a Good Buying Opportunity as Well appeared first on Coinpedia Fintech News
The bearish cartel launches a fresh attack over the crypto space and drags the BTC price below $65,000 for the first time in the past 40 days. Meanwhile, memecoins like FLOKI, WIF, & BONK price near double-digit losses. Here’s what to expect from these tokens by the end of the month. FLOKI (FLOKI) Price Analysis …
Quick Take Analyzing moving averages such as the 200-day and 200-week moving averages can provide insights into Bitcoin’s support and resistance levels. Another critical trend to monitor is the realized price by the year, which helps estimate the market-wide cost basis by tracking the average price at which coins are withdrawn from exchanges each year. […]
The post $57.9k Bitcoin threshold: A make-or-break point for ETF investors appeared first on CryptoSlate.
Crypto analyst Justin Bennett has warned Bitcoin investors about what could cause the flagship crypto to decline further. The analyst also stated that things weren’t looking good for Bitcoin at the moment and suggested that a bullish reversal might not happen anytime soon. How Bitcoin Could Get “Hammered” Bennett mentioned in an X (formerly Twitter) […]
Bitcoin is experiencing a significant decline today, dipping below the $64,000 mark to a low of $63,564. This drop represents a 2.5% decrease in the last 24 hours and an overall 12% decline over the past two weeks. Amidst this downward trend, Arthur Hayes, the co-founder of BitMEX, is not only maintaining his bullish stance on Bitcoin but actively encouraging investment, advocating a strategy to ‘buy the dip.’ His optimism and advice are deeply rooted in an analysis of global economic conditions and central bank policies, which he believes will favor cryptocurrencies like Bitcoin. Buy The Bitcoin Dip? Hayes’s insights draw attention to the aggressive monetary policies implemented by central banks, particularly the US Federal Reserve. These policies, including rapid interest rate hikes—the most aggressive since the 1980s—were initiated in response to rising inflation in the United States. The hikes have had a profound impact on the bond market, particularly affecting US Treasuries (USTs), which saw a decrease in prices due to the rising yields. Japanese banks, in search of yield amid domestically near-zero interest rates, had heavily invested in these USTs. Related Reading: 3 Reasons To Invest In Ethereum, 1 To Stay Bitcoin-Only: Bitwise CIO The strategy backfired when US rates rose, leading to significant paper losses for these banks. Hayes specifically points to the situation with Norinchukin Bank, which was compelled to sell off $63 billion in foreign bonds, mostly USTs, to reduce these losses. This scenario underscores a broader trend among Japanese banks, which may need to continue offloading USTs and other foreign bonds as they adjust to the new economic realities imposed by US monetary policy. Hayes argues that these developments have critical implications for the crypto market, particularly Bitcoin. He notes that the responses by central banks to stabilize financial markets—such as the Federal Reserve’s decision to provide a blanket backstop in March 2023 following a series of bank failures—indirectly benefit cryptocurrencies. This intervention led to a surge in Bitcoin’s price, reinforcing its status as a viable alternative investment during times of financial instability. Moreover, Hayes points out the operational details of the FIMA repo facility, which was expanded by the Fed to bolster liquidity. He explains, “A rise in the FIMA repo facility indicates an addition of dollar liquidity to the global money markets. Y’all know what that means for Bitcoin and crypto … which is why I thought it necessary to alert readers about another avenue of stealth money printing.” This mechanism allows central banks to exchange their holdings of USTs for dollars, increasing the dollar supply without flooding the market with bonds and potentially driving up yields. Related Reading: German Government’s Bitcoin Dump Surpasses $195M As Selling Spree Persists The implications for Bitcoin and other cryptocurrencies are profound, according to Hayes. He suggests that as central banks, particularly the Bank of Japan, might use these facilities to manage their exposure to USTs, the resultant increase in dollar liquidity could drive investors towards cryptocurrencies. This movement is seen as a hedge against potential inflation and currency debasement resulting from these monetary expansions. Hayes vividly describes the effect of these macroeconomic maneuvers on the crypto market: “Just as many began to wonder where the next jolt of dollar liquidity would come from, the Japanese banking system dropped Origami cranes composed of crisply folded dollar bills upon the laps of crypto investors. This is just another pillar of the crypto bull market. The supply of dollars must increase to maintain the current Pax Americana dollar-based filthy financial system.” In a rallying call to the crypto community, Hayes concludes, “Say it with me, ‘Shikata Ga Nai’, and buy the fucking dip!” Through this declaration, he underscores his belief that despite the volatile market conditions, the underlying economic and monetary developments are creating favorable conditions for Bitcoin’s growth. His analysis suggests that savvy investors should view the current price drops as buying opportunities, given the broader economic backdrop that he believes will continue to propel interest and investment in cryptocurrencies. At press time, BTC traded at $64,159. Featured image from Forkast News, chart from TradingView.com
Hybrid, non-custodial exchanges could help restore industry trust in crypto but CEXs remain key for onboarding new users.
At the recent Bitcoin Prague conference, CryptoSlate had the opportunity to sit down with Matej Zak, CEO of Trezor, to discuss the company’s approach to product development, corporate culture, and the challenges of making complex crypto security features user-friendly. Zak, who took over as CEO after shadowing co-founder Marek “Slush” Palatinus, emphasized the importance of […]
The post Inside Trezor’s open-source mission for transparency: CEO Zak talks tech and team dynamics appeared first on CryptoSlate.
Dismal bitcoin price action has apparently caused crowd sentiment for four straight weeks, a sign that may spell relief for bulls in the near term.
Osmosis is achieving this through a revenue-share proposal with Bitcoin bridge Nomic.
Pyth Network teams up with Morpho and Gauntlet to enhance lending protocols on Ethereum and Base using low-latency price data.
A committee representing the interests of FTX customers is pushing back against a proposed bankruptcy plan, claiming that it violates their property rights.
Alloy by Tether introduces a new class of digital assets called tethered assets, designed to track the price of various assets using robust stabilization mechanisms.
Worldcoin (WLD) is currently enjoying an upward trend, with the crypto token surging by over 15% in a single day to reach $3. This development is thanks to the recent strides that the Worldcoin team has made to achieve the goals of the crypto project. Expansion Of Worldcoin’s World ID Provides Bullish Momentum The Worldcoin team recently announced that World ID, the project’s global identity network, would be making an entry into Ecuador. Locals in the country can get verified using the Orb to join Worldcoin’s identity network. The team mentioned that verifications will be available at six locations across two Ecuadorian cities. Related Reading: Dogecoin Enters Final Stage Of Consolidation, Analyst Predicts 6,150% Rally To $7.5 Verification will begin at the port city of Guayaquil on June 26, while the other verification locations will be set up in the Capital city of Quito on June 27. Worldcoin stated that anyone 18 years or older who is interested in joining the over 5 million people participating in the Worldcoin network can get Orb verified in either of those two cities. This development undoubtedly provides bullish momentum for the Worldcoin token, considering the role the crypto token plays in achieving the team’s vision of providing a global identity for everyone. Worldcoin’s entry into Ecuador is also a much-needed boost, given the regulatory scrutiny and negative publicity that has overwhelmed Worldcoin’s ecosystem. Worldcoin also noted that its upcoming launch in Ecuador comes at a time when the project is set to expand further in Argentina through direct investments in the country and the launch of more Orb verification locations. As part of the investment, Worldcoin contributors such as Tools for Humanity (TFH) will sponsor professional opportunities for at least 50 developers, operations specialists, software engineers, data analysts, and other professionals in the country. Additionally, Worldcoin announced that 50 World ID orb verification locations, including two experience stores, will be set up in over ten cities across Argentina. These locations are expected to open sometime during the summer in the country. More Good News For Worldcoin Kenya’s local media, The Star, recently reported that the government has dropped its investigation into Worldcoin. Worldcoin had earlier had to suspend its World ID verifications in the country following allegations of unlawful collection and transfer of personal data belonging to locals. Related Reading: Bitcoin Crash Below $66,000 Stuns Market, Why A Drop To $54,930 Is Possible However, upon investigating and reviewing these allegations, the country’s Directorate of Criminal Investigations (DCI) determined that they had no substance and directed that the investigation be dropped with no further action from law enforcement agencies. The Star noted that this development will likely pave the way for Worldcoin to resume its operations in Kenya. Worldcoin’s operations in Kenya were largely successful. Over 635,000 Kenyans are said to have downloaded the World App, although more than half of these individuals had yet to verify their identity using the Orb. Featured image created with Dall.E, chart from Tradingview.com
On June 20, Ripple Labs Inc. scored a pivotal victory in its ongoing legal challenges, specifically in the federal class action suit filed in the Northern District of California. The case (4:18-cv-06753-PJH), presided over by Judge Phyllis J. Hamilton has been closely monitored by the XRP community due to its potential implications for the classification […]
Ripple is set for new legal battles after a US judge in California approved a lawsuit against the crypto company regarding alleged misleading statements by its CEO, Brad Garlinghouse. This means the case would go to trial, and a jury would decide if the Ripple boss had misled investors into investing in the digital asset […]
The post Ripple faces new trial over alleged misleading 2017 statements by CEO Brad Garlinghouse appeared first on CryptoSlate.
A Standard Chartered representative told Cointelegraph that the firm has been working with regulators to support institutional clients’ demand for trading BTC and ETH.
Generally, increased liquidity leads to a tighter bid-ask spread, but that's not the case with meme coins.
The post Could Ethereum Restaking Create a New Crypto Bond Market? Here’s What S&P Says! appeared first on Coinpedia Fintech News
Ethereum staking services are gaining traction, with S$P Global Ratings predicting they could lead to a robust ‘internet bond’ market. This shift promises new yield opportunities for crypto investors. Ethereum Restaking: What’s It Ethereum holders can now earn additional yield by staking their coins to aid in transaction verification on the blockchain. This process, known …
The latest price moves in bitcoin (BTC) and crypto markets in context for June 21, 2024. First Mover is CoinDesk’s daily newsletter that contextualizes the latest actions in the crypto markets.
Onchain Highlights DEFINITION: Bitcoin Dominance, denotes Bitcoin’s market capitalization as a percentage of the total market cap of all cryptocurrencies. It’s calculated by dividing Bitcoin’s market cap by the total cryptocurrency market cap. Bitcoin’s dominance in the digital assets market has fluctuated significantly in 2024, reflecting broader market dynamics and investor sentiment shifts. Early in […]
The post Bitcoin dominance rebounds to 55% by mid-2024 appeared first on CryptoSlate.
Standard Chartered will soon launch a spot Bitcoin and Ethereum trading desk, expanding its digital asset services for institutional clients.
The post Standard Chartered set to debut spot Bitcoin, Ethereum trading platform appeared first on Crypto Briefing.
Bitcoin’s blockchain bandwidth usage surpasses 90% post-halving, driven by new token standards and increased transaction volume.
The post Will Worldcoin (WLD) And CORE Tokens Surge 25% As Bullish Sentiment Intensifies? appeared first on Coinpedia Fintech News
The volatility in the cryptocurrency market is on a constant rise with top tokens recording constant price fluctuations in their respective portfolios. However, mid-cap altcoins have picked up pace during this time by adding massive valuations to their portfolios. With the rising uncertainty in the crypto space, will the elite cryptocurrencies lose the dominance race …
The post Shiba Inu Whales Transfer 2.55 Trillion SHIB from Exchanges, Sparking Investor Speculation appeared first on Coinpedia Fintech News
Shiba Inu whales have withdrawn a major amount of 2.55 trillion SHIB tokens from exchanges, which includes 2.2 trillion worth $39.9 million from Robinhood and 353 billion valued at $6.6 million from Binance. These three large-scale transfers are brought to light by Whale Alert and LookIntoChain, and hints at a strategic repositioning amidst the market …
The post Michaël van de Poppe Predicts a Major Altcoin Pump Triggered by Ethereum’s Market Resilience appeared first on Coinpedia Fintech News
The cryptocurrency market has turned bearish in the midterm as Bitcoin (BTC) price slipped below $64k on Friday during the London session. The notable cash outflows from the United States-based spot Bitcoin exchange-traded funds (ETFs) in the past five days have weighed heavily on the bullish sentiments. On Thursday, Grayscale’s GBTC and Fidelity’s FBTC led …
The post BEVM Launches Ethereum Asset Bridge with OP Stack and WBTC Integration appeared first on Coinpedia Fintech News
BEVM, supported by Bitman, has introduced a relay chain on the OP Stack, utilizing Wrapped Bitcoin (WBTC) as gas. This development of the Bitcoin L-2 network aims to facilitate the easy transfer of assets between Ethereum and the BEVM network, enhancing interoperability. Moreover, the relay chain serves as a crucial bridge for token movements, ensuring …
Quick Take In investing and trading, retail investors are often perceived as the “dumb money,” while institutional investors are seen as the “smart money.” Historically, this perception has been evident in Bitcoin cycles. For example, during the 2017 cycle, retail investors, represented by “shrimps” (holding less than 1 BTC) and “crabs” (holding 1-10 BTC), were […]
The post Retail Bitcoin cohorts evolve from ‘dumb money’ to ‘smart money’ appeared first on CryptoSlate.