The HKMA collaborates with Cyberport to launch a generative AI sandbox, targeting fintech innovations in finance.
dYdX announces updates to its chain, including a master liquidity pool that will provide liquidity for all markets across its network.
The tokenization of real estate in Lagos State has the potential to transform the property market, making it more accessible to a wider range of investors.
The Bitcoin (BTC) price has broken free from its recent consolidation phase, breaching the $60,000 mark and setting its sights on critical resistance levels essential for propelling the cryptocurrency to new all-time highs (ATHs). This surge comes amid emerging bullish momentum in the world’s largest digital asset. However, the key to continuing this breakout is the influential role of Tether (USDT), the largest stablecoin in the crypto ecosystem. USDT Minting Could Propel Bitcoin Beyond $73,700? According to technical analysts, such as Doctor Profit, the continuous minting of USDT by its issuer could be the decisive factor that pushes Bitcoin to surpass its previous record high of $73,700 reached in March this year. Related Reading: Cardano Is Not ‘Dead’: Crypto Analyst Predicts Surge To $5 In a recent social media post, Doctor Profit highlighted the significance of Tether’s activities in the current Bitcoin price dynamics. Despite Bitcoin’s consolidation below the $60,000 mark over the past 48 hours, Doctor Profit noted that Tether has continued to print more USDT, with its market capitalization increasing by 13.6% since Bitcoin’s all-time high in March. “Usually, Tether market cap needs to drop in a bear market or strong correction,” Doctor Profit observed. “However, this move indicates that Tether is heavily printing during this sideways period for the next leg up. We now have $15 billion worth of USDT that has not been injected into the markets yet.” The analyst further pointed out that just today, an additional $1 billion in USDT was minted, suggesting that the crypto market seems to be ignoring this “bullish fact.” Doctor Profit concluded that Tether will ultimately “decide when to send BTC to a new ATH.” Inflation And CME Gaps Echoing this bullish analysis, crypto analyst Ali Martinez also noted that Bitcoin forms a symmetrical triangle pattern on the lower time frames. According to Martinez, a daily close outside the $59,000 range seen in the past 48 hours could trigger a spike of up to 4.8% for BTC. Currently, BTC is trading at $61,350, up only 2.8% in the last hours of Tuesday’s trading session. Adding to the bullish momentum, the latest Producer Price Index (PPI) data in the United States has come in lower than expected, suggesting that inflationary pressures may be easing more than anticipated. This, in turn, could influence the Federal Reserve’s decisions on interest rates, potentially leading to rate cuts that could ultimately benefit crypto assets. Related Reading: Strong Bearish Signal Appears In Solana Chart, Where Is Price Headed Next? Another analyst, Rekt Capital, also remains optimistic about Bitcoin’s recent price action, noting that the cryptocurrency’s most recent rebound has allowed it to re-fill the CME Gaps that were previously placed between $59,400 and $62,550. Rekt believes that building a support base within these CME gaps is crucial to establishing a bullish directional bias. It remains to be seen if these bullish signs can be sustained in the coming days and how high the BTC price can go. Featured image from DALL-E, chart from TradingView.com
In the aftermath of the recent market crash, crypto ETF products proved to be key in steering the course of the overall market recovery. After a sharp drop in total assets under management (AuM) to $75 billion following the carnage on August 5, the total rebounded significantly to $85 billion, effectively recouping over $20 billion […]
The EOF proposal is a series of smaller EIPs that include measures aimed at updating and improving the Ethereum Virtual Machine (EVM), the programming environment that executes smart contracts on the blockchain, and arguably Ethereum’s secret sauce that made it different from Bitcoin and other early distributed networks at the time it launched in 2015.
ASIC claims that ASX's updates in 2022 saying the project was "on-track for go-live" and "progressing well" were misleading and deceptive.
Crypto.com's sponsorship of the Champions League will be unveiled officially at Wednesday's UEFA Super Cup match between Real Madrid and Atalanta in Warsaw.
Connecting with sports fans has accounted for at least 100 million new users on Crypto.com, according to the firm’s CMO.
Indian cryptocurrency exchange WazirX, which suffered a $230 million exploit in July, is ending its relationship with custody provider Liminal.
Over the last year or so, since crypto prices began bouncing strongly from late Q3 2024, interest has spiked, drawing attention to low-fee and scalable alternatives to Ethereum. These blockchains, mainly Solana, allow users to deploy smart contracts cheaply, all while remaining trustless and, to some extent, reliable. Bot Activity Is Not After All Bad–Here’s […]
Riot Platforms continues navigating its complex relationship with Bitfarms while expanding its operations.
A healthy portion of Bitcoin hodlers refuse to let go of their coins no matter what BTC price action delivers.
Crypto investments remain volatile as Ethereum ETF flows turn negative, highlighting the market’s rapid evolution.
An on-chain analyst has explained why the Bitcoin spot exchange-traded funds (ETFs), although important, may be something other than the drivers in the market. Bitcoin Spot ETFs Compared With Other Capital Flows On The Network In a new post on X, on-chain analyst Checkmate has discussed how the different capital flows in and out of Bitcoin stack up against each other. The first netflow of interest is naturally the total capital netflow itself. This netflow is calculated using the Realized Cap indicator. The Realized Cap is a capitalization model for BTC that calculates the asset’s total valuation by assuming that the “real” price of any coin in circulation was the price at which it was last moved on the network. The last transaction of any token was likely the last time it changed hands, so the price at its time would make up for its current cost basis. As the Realized Cap essentially sums up the cost basis of every coin in circulation, it tells us about the amount of capital the investors have used to purchase the cryptocurrency. Related Reading: Only 66% Of Ethereum Holders In Profit Despite 21% Price Jump Therefore, the changes in this metric would reflect the incoming or outgoing capital from the sector. Below is the chart shared by the analyst that shows how the monthly version of this netflow has looked like for Bitcoin during the past year. As the graph shows, the change in the Bitcoin Realized Cap has been positive for almost this period, suggesting that a net amount of fresh capital has only been flowing into the asset. Currently, BTC is observing net inflows worth $12 billion per month. Checkmate has also attached the data for the flows related to the spot ETFs in the same chart. The green curve represents the monthly change for the ETFs excluding GBTC, while the red one corresponds to the GBTC outflows. The former stands at a positive $3.7 billion per month, while the latter is at a negative $0.93 billion per month. The capital flows related to these financial instruments don’t make up for anywhere near most of the market. “At best, the ETFs are 20% of the influence,” notes the analyst. “They are important, but not the driver.” The final metric in the chart is related to the supply change of the Bitcoin long-term holders (LTHs), who are the investors holding onto their coins since more than 155 days ago. Related Reading: Bitcoin Whales Participate In $588 Million Selloff: Is There More To Come? It would appear that these HODLers had been selling earlier in the year. Still, recently, their supply change has again flipped into positive territory, with their combined balance now growing at a rate of $1.6 billion per month. BTC Price In a sharp move up, Bitcoin has recovered beyond the $61,300 mark during the past day. Featured image from Dall-E, checkonchain.com, chart from TradingView.com
xAI has introduced Grok-2, the latest AI model for X users. It offers enhanced features in chat, coding, and reasoning.
Tweets from the crypto exchange and Jesse Pollack, the creator of Base, suggest cbBTC could run on the layer-2 blockchain.
CertiK alerts have reported and identified a serious security issue of Vowcurrency. The attack resulted in the loss of significant assets like 175 ETH, 595,970 USDT, and 5,801,632 VOW tokens. The attacker took advantage of a recent change in the vUSD conversion rate from 1 to 100 per VOW token. This manipulation allowed the attacker …
An Australian man has now been sentenced to jail after finding himself millions of dollars richer following an accidental refund from Crypto.com—the 13th largest cryptocurrency exchange by trading volume. According to the report, the Australian man named Jatinder Singh, aged 39, and his “then-partner” Thevamanogari Manivel, 41, were sent roughly $10.47 million by Crypto.com due […]
Following the daily death cross between the 50 and 200 Moving Averages (MAs), Bitcoin’s (BTC) price has attempted to rally beyond the crucial resistance/support range between $61k and $62k in the past few days without solid success. The flagship coin is at a crucial point that could lead to a further crypto crash or renewed …
After Bitcoin & Ethereum, the crypto space has witnessed the emergence of new altcoins, which has expanded the use cases. With the emergence of AI, RWA, MEMES, and many more, primitive tokens like Cardano (ADA), Polkadot (DOT), and XRP appear to be trading underneath them. Therefore, it appears that market participants have also moved on …
To further diversify its crypto investment portfolio, asset manager and ETF issuer Grayscale has unveiled the launch of the Grayscale MakerDAO Trust. This latest addition to Grayscale’s product suite allows investors to gain exposure to MKR, the utility and governance token underpinning the Ethereum-based MakerDAO ecosystem. Grayscale Expands Crypto Portfolio MakerDAO is an autonomous organization operating a decentralized finance (DeFi) protocol, providing users access to a permissionless, open stablecoin system and various other on-chain financial services. According to Tuesday’s announcement by the firm, through the Grayscale MakerDAO Trust, investors can now participate in the growth and development of the protocol’s MKR ecosystem. Related Reading: Cardano Is Not ‘Dead’: Crypto Analyst Predicts Surge To $5 “As demand for crypto exposure continues to grow, Grayscale is committed to expanding our suite of products and providing innovative investment opportunities,” said Rayhaneh Sharif-Askary, Grayscale’s Head of Product & Research. “The launch of the Grayscale MakerDAO Trust allows investors to experience the growth of the entire MakerDAO ecosystem, aiming to remove DeFi’s dependency on traditional finance infrastructure by providing a permissionless, decentralized, and open stablecoin system,” Sharif-Askary also stated. The new trust functions similarly to Grayscale’s other single-asset investment vehicles, with the fund solely invested in MKR tokens. The trust is now open for daily subscription by eligible individual and institutional accredited investors, providing them a convenient way to gain exposure to the MakerDAO protocol. This announcement comes on the heels of Grayscale’s recent launches of the Grayscale Bittensor Trust, dedicated to the TAO token supporting the Bittensor Protocol, and the Grayscale Sui Trust, focused on the SUI token underpinning the Sui Layer 1 blockchain. MKR Price Action Grayscale’s news sparked a spike in the MKR token, which hit an 8-month low of $1.7 on August 5 amid the broader market crash and global economic uncertainties that led to an increased sell-off. MKR is trading at $2.10, up nearly 6% in the last few hours, coupled with a 16% increase in trading volume in the 24-hour time frame, amounting to $124 million, indicating investor interest in the token’s prospects. Related Reading: Strong Bearish Signal Appears In Solana Chart, Where Is Price Headed Next? MKR must consolidate above the $2.06 level to further capitalize on this latest surge, as it has acted as a resistance wall for the token over the past few days before Tuesday’s bullish news on the MKR/USDT daily chart. This would be key for MKR’s future advances and the potential to surpass its next resistance barrier at $2.16. However, if there is a resurgence of demand and buying pressure for the token and the broader market, which can also contribute to MKR’s 10% surge last week, it would position MakerDAO’s native token to tackle its next resistance at $2.31, $2.42 and $2.73 on its way to reclaiming the $3 mark. Featured image from DALL-E, chart from TradingView.com
Since July, the crypto market has been turbulent. Many tokens have seen their values plummet. Three cryptocurrencies are holding firm though – Rollblock, XRP, and Binance Coin. XRP and Binance Coin have seen strong recoveries following a steep decline in early August. Meanwhile, Rollblock is a relative newcomer but is gaining widespread attention with over […]
Australia's Securities and Investment Commission (ASIC) has sued Australia’s largest market operator, ASX Limited, for allegedly making misleading statements about how its blockchain project was progressing to replace its aged Clearing House Electronic Subregister System (CHESS) before revealing it was failing, it announced Wednesday.
Bitcoin is currently experiencing a short-term bullish relief, replicating historical patterns. With less than 24 hours until new inflation data is released, this upcoming information could significantly influence the market in the short term. Upcoming Inflation Data: In less than 24 hours, new inflation numbers for the United States will be announced, specifically the Consumer …
With Toncoin’s TVL surpassing the $600 million milestone, the bullish growth continues in its market value. Ranking at #8 in the top 10 crypto and a market cap of $16.80 billion, TON price trades at $6.67 and an intraday gain of 3.25%. Will this bullish revival skyrocket the altcoin price to a new all-time high …
Bitcoin price reacted positively to the latest PPI rates as it surged above $61,000. Unfortunately, the trend remained within a small time frame as the bears began to reclaim their dominance over the rally. However, DOGE and PEPE rise finely while SHIB, WIF & FLOKI trying hard to trigger a fine rise. Pepe (PEPE) Sustains …
Such expansion comes despite a recent drop in bitcoin (BTC) prices, indicating positive sentiment among miners after a bout of selling in the past few months.
As the 2024 US presidential election looms, new evidence suggests that a Kamala Harris presidency could spell trouble for the crypto ecosystem. According to a recent social media post on X by Galaxy Digital’s Head of Research, Alex Thorn, Vice President Kamala Harris appears poised to continue, and even escalate, the Biden administration’s regulatory crackdown […]
Core Scientific stock has dropped to $8.46 per share on the Nasdaq following an announcement of offering convertible senior notes to help settle debts.