The official Shibarium X handle has announced the upcoming launch of a hard fork on the L2 network, which is expected to introduce the highly anticipated SHIB burn mechanism. The hard fork will occur at 9:15 AM (UTC) today, August 9, 2024. Following the hard fork, the team will release a new Bor version, v1.1.2-bone. …
As the crypto industry expands, exchanges like OKX face mounting pressure to strengthen compliance and prevent illicit activities on their platforms.
The Open Network community gains free access to over 60 advanced analytics indicators through an IntoTheBlock integration.
After the conclusion of the Ripple vs. SEC lawsuit, the debate on XRP usage heats up! Ripple’s Chief Technology Officer, David Schwartz, has clarified the company’s ability to use XRP for its payment services following the SEC’s recent injunction. This comes in response to concerns about whether Ripple can continue using XRP for On-Demand Liquidity …
Currently the market is experiencing a short-term recovery in the altcoin market, with amusing performance from coins like Solana (SOL). However, the next 48 hours are critical for determining the market’s direction. During this period, it’s important to monitor potential scenarios: a market squeeze leading to higher gains or a continuation of the downturn. Recent …
In a bust that once again reveals the dark side of cryptocurrency usage, the Hong Kong Customs cracked down on a sophisticated money laundering operation, seizing assets and making several arrests. According to the press release by the Hong Kong Government, the operation to bust this money laundering scheme is dubbed “Fencing,” and it particularly […]
With the overnight surge in the crypto market, Bitcoin bounces back above $61K, and Ethereum is on the verge of hitting $2700. With a boost in top coins, the crypto market surpasses the $2T market cap and increases investors’ risk appetite. This is evident with the surge in meme coins and other community-based segments. So, let’s …
Dogecoin has remained under the shadows for an extended period as the trader’s sentiments towards the token appear to be vague. During the recent pullback, the DOGE price faced a huge loss of over 20% as it lost the crucial support at $0.1042. However, the token reclaimed its levels after a brief consolidation, which has …
In a recent episode of the Thinking Crypto Podcast, host Tony Edward talked with Attorney Fred Rispoli about the latest developments in the Ripple vs. SEC case. They discussed what the court’s decision meant and what could happen next, will the SEC appeal the Ripple XRP Case Ruling? Ripple vs. SEC Case On August 7th, …
The cryptocurrency market continues to record increased price action with top tokens constantly experiencing significant gains and losses within a short period this week. However, with a jump of 7.23%, the price of Bitcoin has successfully reclaimed the $61K mark. Moreover, the Solana price has displayed a similar action by breaking out of its important …
The Donald Trump-themed memecoin “RTR” plunged 95% after Eric Trump warned they have nothing to do with it.
On-chain data shows that the Bitcoin Network Value to Transactions (NVT) Golden Cross has dipped into the bottom region, which may be bullish for the asset’s price. Bitcoin NVT Golden Cross Has Seen A Sharp Decline Recently As an analyst in a CryptoQuant Quicktake post explained, the Bitcoin NVT Golden Cross is giving a bottom signal for the third time in 2024. The “NVT ratio” is an on-chain metric that keeps track of the ratio between the Bitcoin market cap and transaction volume. When the value of this metric is high, it means the asset’s value (that is, the market cap) is high when compared to the network’s ability to transact coins (the transaction volume). Such a trend could imply the BTC price is overvalued. Related Reading: XRP Sharks & Whales Push Bags To ATH As Price Rockets 19% On the other hand, the low indicator suggests the market cap is low compared to the transfer volume, so the cryptocurrency’s price could have room for growth. In the context of the current topic, a modified version of the NVT ratio is the actual indicator of relevance: the NVT Golden Cross. This metric compares the short-term trend of the metric with its long-term one to determine the appearances of local tops and bottoms in the NVT ratio. More particularly, the 10-day moving average (MA) stands for the short-term trend and the 30-day MA for the long-term. Now, here is a chart that shows the trend in the Bitcoin NVT Golden Cross over the over the past few months: In the graph, the quant has highlighted the two regions of the NVT Golden Cross that have historically been relevant for cryptocurrency. At values above 2.2, the asset can be assumed to be close to the top, as here, the short-term trend of the NVT ratio has significantly surpassed its long-term one. Similarly, the zone under -1.6 is where bottoms can probably form. From the chart, it’s visible that the indicator has observed a plunge recently as the Bitcoin price itself has crashed down. The metric has entered the latter region, suggesting that the coin may have become underpriced. This is the third time that the NVT Golden Cross has breached this territory this year, with the first instance occurring back in January, during the price drawdown that had followed the spot exchange-traded fund (ETF) approval. This period of the asset being undervalued was followed by a rally towards the new all-time high (ATH). Related Reading: Solana (SOL) Jumps 39% From Crash Low, But Is This Rally Sustainable? The second instance of the indicator entering the bottoming zone was last month, with the low paving the way for a rally toward $70,000. Given that both of these occurrences proved bullish for Bitcoin, it remains to be seen where this third one leads. BTC Price Bitcoin has furthered its recovery during the past day as its price has now broken back above the $58,200 mark. Featured image from Dall-E, CryptoQuant.com, chart from TradingView.com
Solana, a public blockchain known for its high transaction speeds, is again under scrutiny. After challenges around reliability in the past years, analysts are now highlighting another concern. Solana Facing New Transaction Processing Challenges Taking to X, one user said the network has alarmingly high transaction failure rates. This performance problem, the analyst added, tends […]
Tether, is reportedly planning to double the size of its workforce by mid-2025, with a particular focus on its compliance team. It plans to increase its staff to around 200 people, its CEO told Bloomberg. He also added that “We are very careful when we hire people, we hire only senior people.” The firm has …
The stablecoin issuer will still be tiny in terms of staff compared to other tech and crypto companies.
Over the past few months, Bitcoin has been moving within a distinct price range. From March 2024 to August 2024, Bitcoin traded within this range for about 158 days. Throughout this period, the price fluctuated between roughly $60,000 and $73,000. Whenever Bitcoin approached the bottom of this range, around $60,000, people became very bearish. This …
In a recent letter to the U.S. Commodity Futures Trading Commission (CFTC), Coinbase opposes the CFTC’s plan to ban smart contract-based political betting, arguing that regulation of prediction markets is outside the CFTC’s scope and overlooks their benefits. They suggest regulating individual cases instead. Coinbase’s Take on the Controversial Proposal In May, the CFTC proposed …
In a recent video update the founder and CEO of Real Vision, has identified a recurring phase in the cryptocurrency market known as the “boring zone.” Pal highlighted the market phases, referring to the current “boring zone” as nearly complete and anticipating the transition to the “banana zone,” where significant market activity is expected. Excited …
In a recent video update, Raoul Pal, the founder and CEO of Real Vision, has identified a recurring phase in the cryptocurrency market known as the “boring zone.” Pal highlighted the market phases, referring to the current “boring zone” as nearly complete and anticipating the transition to the “banana zone,” where significant market activity is …
According to data from financial information platform Farside Investors, the Ethereum ETFs witnessed a total net outflow of $2.9 million on August 8. On the day, Grayscale’s ETHE and Fidelity’s FETH experienced outflows of $19.8 million and $2.6 million, respectively. Grayscale mini ETF ETH had an inflow of $5.0189 million, and BlackRock ETF ETHA had …
Ethereum co-founder Vitalik Buterin has transferred 3,000 ETH, valued at around $8 million, to a multi-signature safe wallet attracting around 0.1 ETH in gas fees (about $270). The reason for the transfer is unknown and speculated to be a donation. When a user questioned the high gas fees on the network, Buterin underscored security over …
Retail investors could be coming back into the market after a recent upward trend in new Bitcoin addresses.
As Solana quickly reclaims lost levels during the recent crash, the Solana ecosystem explodes. With Solana-based altcoins making a comeback with the SOL price recovery, these mid-cap and low-cap tokens are likely to outperform Solana tokens in the coming months. Furthermore, with the broader market recovery as Bitcoin reclaims $61K, the altcoins could give 2x …
Binance’s security team has recovered or frozen over $73 million in stolen user funds so far this year, surpassing the $55 million recovered in 2023. The crypto exchange noted that the vast majority of these recoveries and freezes i.e. approximately 80% are related to hacks, exploits, and thefts happening externally. The remaining 20% are associated …
Bitcoin has recently surged to $62,384 along with other financial assets that had previously been declining. This price surge comes amid rumors of a major pro-crypto announcement linked to the Trump family. However, renowned economist Peter Schiff is advising Bitcoin investors to consider selling. Peter Schiff’s Warning In a recent tweet Peter Schiff, a well-known …
CBOE has filed an updated 44-page rule change proposal “with more meat,” which could be good news for those hoping for options trading on spot Bitcoin ETFs.
Toncoin (TON), the native token of The Open Network, has been one of the best performers this cycle. The token registered a 200% surge in the last six months, flipping Dogecoin (DOGE) by market capitalization. As a result, the crypto exchange Binance announced the listing of TON on August 8, which propelled the price by over 10%. Related Reading: Ethereum On The Move: Dormant ETH Wallets Linked To $4 Billion Scam Awaken Toncoin Soars 14% After Binance Listing On Thursday, Binance, the largest crypto exchange by trading volume, announced it would list TON on the trading platform. The exchange stated that the seed tag, used for projects with higher volatility and risks than others, would be applied to the token. Binance announced it would open trading for four new spot trading pairs on August 8 at 10:00 UTC. The pairs include TON/BTC, TON/USDT, TON/FDUSD, and TON/TRY. Additionally, the exchange added Toncoin to Binance Simple Earn, “Buy Crypto,” and Binance Convert. Meanwhile, TON withdrawals won’t be available until Friday. The telegram-integrated token will also be added to Binance’s Margin and Auto-Invest services on Monday, August 12. Following the listing, Toncoin saw an initial 14% increase, reclaiming the $6 support zone. The token surged to the $6.4 area before retracing to the $6.3 mark. Moreover, TON’s market activity increased by over 239% in the last 24 hours, with a daily trading volume of $1.3 billion. TON Tests Key Levels Following the recent surge, investors and market watchers have weighed in on TON’s price action. Trader AltCryptoGems highlighted that Toncoin was “outperforming today” with a “very nice pump from support.” Per the chart, TON bounced from the $5.4 support area to the $6.3 resistance level. If the token fails to reclaim this level, its price could lose momentum and dip to the previous support zone or lower. However, a successful retest of the key $6.3 mark could drive the price above $6.4. This could lead the token to break out of the downtrend line and propel the price towards TON’s ATH. The trader suggested avoiding “chasing green candles, especially above key resistance levels.” Instead, he advised that investors monitor the token’s reaction as “it is an interesting area to do some business.” Similarly, Altcoin Sherpa warned investors about TON despite being bullish. To the analyst, it’s “still a great chain/project.” However, Sherpa considers that the project needs more adoption even if “there are a lot of builders going on there lately.” “I think TON is still bullish for this cycle but wouldn’t be rushing to buy at current prices,” stated the analyst. Related Reading: Solana (SOL) Bounces 30% Amid Market Recovery, Analysts Remain Bullish Toncoin displayed one of the strongest performances this cycle so far, reaching its ATH of $8.25 two months ago. The token has neared the $6.4 resistance level, hovering between the $6.35 and $6.38 price range in the past hour. As of this writing, TON is trading at $6.37, a 14.8% increase in the last 24 hours. Featured Image from Pinterest, Chart from TradingView.com
According to a recent Bloomberg report, Japan’s top financial regulator is pumping the brakes on approving crypto-based exchange-traded funds (ETFs), taking a more conservative stance than regulators in some other countries. Crypto ETF Expansion Faces Headwinds In Japan Hideki Ito, commissioner of Japan’s Financial Services Agency (FSA), emphasized the need for “cautious consideration” when greenlighting […]
Nostra's expansion to Monad highlights the growing importance of multichain strategies in DeFi, potentially enhancing cross-chain interoperability.
The post Nostra expands to Ethereum-compatible Monad following community vote appeared first on Crypto Briefing.
On 08th August, Blackrock’s “ETHA” recorded the highest inflow of $11.7 Million, followed by Grayscale’s “ETH” with $5 Million. Further, Bitwise’s “ETHW” has added $2.8 Million. Notably, 21 Shares, VanEck, Invesco, and Franklin have recorded a neutral flow. On the other hand, Fidelity’s “FETH” recorded an outflow for the first time at $2.6 million. Grayscale’s …