RippleX, the developer arm of Ripple, is partnering with OpenEden Labs to introduce tokenized US Treasury bills (T-bills) to the XRP Ledger (XRPL), according to an official press release from August 1. OpenEden Labs is a tokenization platform and announced the launch of its TBILL tokens, which are backed by short-dated US T-bills and reverse […]
After millions of funds were lost in crypto in the month of July, the start of a new month brought a new hack to the crypto community. In a shocking event, decentralized finance protocol- Convergence got exploited out of $210,000. This has seriously rattled the crypto community.Let’s explore how this attack happened and what impact …
Monthly dividends continue to climb, as the tokenized fund has paid out more than $7 million since launch.
This edition of Cointelegraph’s VC Roundup features Pichi Finance, Sybill, Hyperbolic, Raad Labs, and zkLink.
The miner said its adjusted EBITDA swung to loss, compared to previous quarter's profit.
Bitcoin could reach a macro price top of above $100,000, but can BTC stage a weekly close above $71,500 to confirm a breakout?
Coinbase (COIN) reported second-quarter earnings on Thursday.
Shares are a bargain after second-quarter earnings sent the stock down roughly 16%, says Benchmark analyst Mark Palmer.
MicroStrategy's aggressive Bitcoin strategy underscores its commitment to long-term BTC integration, despite short-term financial volatility.
The post MicroStrategy boosts BTC holdings with $805M acquisition in Q2 appeared first on Crypto Briefing.
After ducking Mark Zuckerberg, Musk has now agreed to fight 61-year-old Nicolas Maduro on live TV.
Bank of Russia Governor Elvira Nabiullina reiterated the regulator’s belief that the digital ruble, Russia’s central bank digital currency (CBDC), will achieve widespread adoption within the next five to seven years. Nabiullina said that CBDCs have significant benefits for payments during a recent speech at the Federation Council, local media reported on July 30. CBDC […]
The post Russian central bank governor says CBDCs will be part of everyday life by 2031 appeared first on CryptoSlate.
Bitcoin has been on a rollercoaster ride ever since it reached its all-time high (ATH) of $73,737 back in March. However, regardless of that, several analysts and traders in the crypto community remain persistent in their bullish outlook for the asset. An example is Willy Woo, a well-known figure in the crypto sector. Earlier today, Woo shared his optimistic view on Bitcoin and insights on how high BTC’s price could potentially climb to hit this anticipated high mark. Bitcoin Road To $700,000: Tough Or Smooth? According to Woo in his latest post on Elon Musk’s social media platform, X, Bitcoin’s price projection can range dramatically based on the percentage of global wealth assets allocated to Bitcoin. In his explanation, Woo outlined two possible future scenarios for Bitcoin’s valuation: a more probable lower band and a highly unlikely upper limit. Related Reading: Bitwise CIO On Bitcoin: ‘We’re Not Bullish Enough’ – Here’s Why He pegs the “conservative” estimate for Bitcoin at roughly $700,000, assuming modest adoption and investment levels. This figure arises from a hypothetical allocation of a small percentage of global wealth into Bitcoin, reflecting a growing but cautious integration of Bitcoin into the broader financial sector Woo’s analysis further delves into how institutional investors might influence Bitcoin’s value over time. Drawing from industry behaviors and recommendations, such as Fidelity’s suggestion that portfolios include 1-3% in BTC, Woo interprets these movements as signs of growing, although conservative, confidence in Bitcoin as a viable asset class. He contrasts these figures with BlackRock’s 85% investment, highlighting a stark divergence in institutional strategies towards Bitcoin. The theoretical upper limit of Bitcoin reaching $24 million per unit, according to Woo, would require an unrealistically complete conversion of the world’s $500 trillion in wealth assets into Bitcoin. He dismisses this scenario as improbable, focusing instead on the more grounded predictions supported by current investment trends and economic behaviors. Woo explains that as Bitcoin’s adoption curve follows the classic S-curve of technological adoption, which currently sits at 4.7%, the potential for significant price increases remains viable as adoption grows towards the 16% to 50% range. What The Future Holds In his concluding thoughts, Woo speculates about a future where Bitcoin’s market capitalization could surpass all global fiat currencies. This paradigm shift would transform investor priorities, moving away from fiat-based valuations towards a new economic model where major corporate assets could be measured against their BTC holdings, rather than traditional fiat metrics. Related Reading: Is A Major Bitcoin Dip Coming? What the Coinbase Index Tells Us This shift, he argues, would mark a profound change in financial thinking, focusing on assets that can leverage Bitcoin’s stability and growth rather than merely surpassing its value. Once the price produces a marketcap exceeding all the fiat in the world you won’t be interested in ultimate price. That’s a fiat mindset based on current realities. After this inflection point, you’ll only be looking for investments that can beat BTC. For starters these are… — Willy Woo (@woonomic) August 1, 2024 Featured image created with DALL-E, Chart from TradingView
MicroStrategy reported second-quarter earnings on Thursday.
The current market sentiment is quite bearish as top assets including Bitcoin (BTC) and Ethereum (ETH) have crashed by 6% and 7% respectively, in the last 24 hours. This massive downturn has created notable selling pressure across the market. In response to this selling pressure, whales and investors have started booking profits. Smart trader made …
Defend American Jobs used roughly $600,000 in a media buy for Republican Blake Masters, just one of three Arizona candidates crypto PACs supported in 2024.
South Korea is set to receive Do Kwon’s extradition from Montenegro. The Appellate Court of Montenegro has issued a ruling confirming the decision earlier taken by the High Court of Podgorica to send him to his Native country, Instead of the U.S. Let’s explore the case development for Kwon’s Extradition. The Battle for Kwon’s Extradition …
Quick Take DEFINITION: Realized Profit is a metric that quantifies the total profit of a digital asset, calculated by the difference between the sale price and the acquisition price for all spent coins where the sale price was higher than the acquisition price. The Realized Profit by LTH/STH (Long-Term Holders/Short-Term Holders) metric further enhances this […]
The post Bitcoin long-term holders dominate profit realizations in 2024, leveraging price peaks appeared first on CryptoSlate.
Bitcoin price drops to new lows, but analysts expect BTC's consolidation to end within a month.
Celestia has been steadily winning market share in data storage from Ethereum since May.
Celestia has been steadily winning market share in data storage from Ethereum since May.
Kamala Harris' rising odds reflect shifting political dynamics and voter sentiment, potentially altering the 2024 election landscape significantly.
The post Polymarket shows Kamala Harris’ odds of winning at an all-time high of 45% appeared first on Crypto Briefing.
The US miner is now the second-largest by market cap, after flipping Riot Platforms.
Terraform Labs co-founder Do Kwon is finally set to be extradited to South Korea after a more than year-long legal process in Montenegro. The Appellate Court upheld the Higher Court’s June decision to prioritize South Korea’s extradition request over that of the US. The prioritization was based on the order of request submissions, with South […]
The post Do Kwon set for extradition to South Korea after appeals court rejects US request appeared first on CryptoSlate.
An analyst has warned that support levels weaken the more they are retested and Bitcoin is now doing a third consecutive retest of a major such level. Bitcoin Is Again Retesting The Short-Term Holder Realized Price As explained by CryptoQuant community manager Maartunn in a new post on X, BTC’s latest drawdown has led to it doing another retest of the short-term holder Realized Price. The “Realized Price” here refers to an indicator that, in short, keeps track of the average cost basis of the investors or addresses on the Bitcoin network. When the value of this metric is greater than the spot price of the cryptocurrency, it means the average investor in the market could be assumed to be holding a net unrealized profit. On the other hand, the indicator being below the asset’s value suggests the dominance of losses on the blockchain. Related Reading: Ethereum Seeing High Exchange Outflows, But Watch Out For This Bearish Signal In the context of the current topic, the Realized Price of the entire userbase isn’t of interest, but that of a specific segment of it: the short-term holders (STHs). The STHs include all the investors who bought their coins within the past 155 days. Now, here is a chart that shows the trend in the Bitcoin Realized Price for the STHs over the last few months: As displayed in the above graph, the Bitcoin spot price had slipped under the STH Realized Price in June, but it finally managed to break above the line halfway through last month. In the weeks since the asset has seen a couple of pullbacks back to the line, but it has managed to find rebounds each time. Now, after the latest decline, the coin’s price is once again retesting the level. Historically, the STH Realized Price has been a reliable point of support for the cryptocurrency during bullish periods. The explanation behind this pattern may lie in how investor psychology works. The STHs represent the fickle-minded side of the sector, who are sensitive to change. As such, whenever the price retests their cost basis, they may be prone to making panic moves. In times when the atmosphere in the market is bullish, the STHs may believe such a retest to merely be a dip opportunity, so they could decide to accumulate more. This could be why Bitcoin has found rebounds at the level in the past. While the level has generally been reliable indeed, this latest retest that BTC is facing is already the third within a narrow period. “Each time a level is tested, it becomes weaker,” notes Maartunn. Related Reading: XRP Bullish Signal: Shark & Whale Population Sharply Growing It now remains to be seen if the Bitcoin STHs still carry a bullish outlook on the cryptocurrency or if the constant pullbacks have put fear on their minds. BTC Price Bitcoin has continued its recent bearish momentum in the past 24 hours as its price has slid another 2% to reach the $64,700 level. Featured image from Dall-E, CryptoQuant.com, chart from TradingView.com
Since 2023, the decision to send the Terraform co-founder to South Korea or the United States has been contested in Montenegrin courts.
Supporting the Bitcoin bill could reshape US fiscal policy, potentially stabilizing the economy and reducing national debt through digital assets.
The post Digital Chamber urges US senators to back Lummis’ Bitcoin bill appeared first on Crypto Briefing.
Shiba Inu Games, an affiliated company specialized in the development of games for the Shiba Inu ecosystem, announced a major update to their flagship game, Shiba Eternity. The collectible card game (CCG) will see a system overhaul that renders previous accounts and collections incompatible with the new version. Shiba Inu Games Announces Major Overhaul According […]
The presumptive Democratic nominee has a 45% chance of securing the White House, according to the crypto prediction market.
Bitfarms said its Bitcoin production and holdings increased last month despite the rising mining difficulty, according to an Aug. 31 statement. The crypto miner revealed a 33.8% rise in Bitcoin production for July, attributed to a higher hashrate. Bitfarms mined 254 BTC in July, up from 189 BTC in the previous month. The firm also […]
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