Bitcoin liquidity is attempting to prevent a deeper BTC price retracement against a background of lower highs.
Crypto projects lost $278.8 million to exploits and hacks in July—the second-highest monthly loss this year—according to blockchain security firm CertiK. CertiK pointed out that the losses were primarily due to exit scams, flash loans, and other exploits. However, $7.8 million of these stolen assets were recovered, reducing the net loss to $270.9 million. The […]
The post Crypto projects lose $278 million to July hacks, second-highest in 2024 appeared first on CryptoSlate.
Two market experts recently revised their predictions for Ethereum, with one claiming that the second-largest crypto token could rise to as high as $100,000. Interestingly, these ultra-bullish predictions align with some predictions made by financial institutions. Ethereum To Rise To $50,000 Ethereum maximalist Adriano Feria predicted in an X (formerly Twitter) post that Ethereum could reach $50,000 in this market cycle. He made this bold prediction in response to Ethereum developer Eric Conner’s prediction that ETH will reach $35,000 this cycle. Conner had initially predicted that ETH would rise above $20,000 in this bull run but eventually revised his price target because of the “ETH hate” he was receiving following his prediction. Related Reading: This PEPE Holder Cohort Is The Reason Price Is Struggling To Reclaim $0.00002 Meanwhile, Feria followed Conner’s footsteps and upped his ETH price target, predicting the crypto token to reach $100,000. He explained that the hate ETH was getting made him realize that “99% of the people in the world are completely sidelined, and institutions have barely gotten their feet wet.” Feria added that those holding ETH are truly the “world’s elite” because ETH’s bull case should send the crypto token to $100,000. The analyst suggested that Ethereum has yet to enjoy mainstream adoption, and it could send its price to the $100,000 target when that happens. This includes the entry of institutional investors into the Ethereum ecosystem, which is already happening thanks to the Spot Ethereum ETFs. Feria is also confident in his prediction and remarked that he wasn’t joking. He noted that some financial institutions have come up with bull targets close to his price target of $100,000. One of the financial institutions that the analyst might have been referring to includes VanEck, which gave a bull case price target of $154,000 for ETH by 2030. Why ETH Rising To $50,000 Is Possible Crypto investor Jesse Eckel recently made a bullish case for Ethereum, explaining why Ethereum will not only reach but surpass the $50,000 price target. He alluded to VanEck’s prediction that Bitcoin can reach $52 million by 2050. He claimed that ETH is “objectively better money than BTC, ” meaning that the former could easily attain unprecedented heights since VanEck predicts that the flagship crypto will be worth millions of dollars. Related Reading: Hedge Fund Manager Says Bitcoin Price Will Reach $428,000 If This Happens Eckel further remarked that Ethereum is currently the “backbone” of onchain finance. He claimed that ETH would “continue to grow as a legitimate form of money” as everything becomes tokenized and trillions of dollars move onchain. The investors also noted how almost every layer-2 network launches under the Ethereum ecosystem. With such massive adoption on the horizon for ETH, Eckel predicts that Ethereum can even rise to as high as $23 million based on VanEck’s prediction for Bitcoin. At the time of writing, Ethereum is trading at around $3,170, down over 4%, according to data from CoinMarketCap. Featured image created with Dall.E, chart from Tradingview.com
Players can earn Notcoin tokens and a new in-game token in the story-driven game.
Polkadot (DOT), recognized for its innovation in the crypto space, is facing challenges as its price has fallen from a high of $11.80 in March to its current level, marking a 50% drop. Despite a recent protocol upgrade intended to improve its functionality and scalability, technical analysis suggests that DOT’s price could decline by an …
The company's loss per share doubled to $0.32.
Ripple invests $10 million in OpenEden’s tokenized T-bills initiative, marking a significant TradFi advancement on the XRPL.
Quick Take Farside data reveals that Bitcoin exchange-traded funds (ETFs) experienced a minimal net inflow of just $0.3 million, marking the most negligible net inflow since these ETFs began trading on Jan. 11. BlackRock’s IBIT continued to attract investments with a $21.0 million inflow. However, three out of the top four issuers faced outflows once […]
The post Bitcoin ETFs see smallest net inflow on record, Grayscale mini BTC positive appeared first on CryptoSlate.
Introducing supervisory fees marks a crucial step toward increased regulation and oversight.
"AI's integration with blockchain technology, especially on platforms like Aptos, is set to revolutionize the industry," said an OKX Ventures exec.
The most expensive bright orange, high-top sneakers are already sold out and being relisted on eBay for as high as $2,500.
The Grayscale Bitcoin Mini Trust (the “Trust”) officially launched on Wednesday after receiving approval from the US Securities and Exchange Commission (SEC), emerging as a lower-cost alternative to the renowned Grayscale Bitcoin Trust (GBTC). New Bitcoin Mini Trust Debuts According to Bloomberg, the Grayscale Bitcoin Mini Trust, which debuted with a 0.15% expense ratio, is […]
July witnessed $266 million in cryptocurrency losses from 16 attacks, with WazirX being the largest victim of North Korean hackers.
The Ripple vs. SEC closed-door meetings scheduled for today generated a lot of attention across the globe, as many predicted that the case would end today. However, to everyone’s disappointment, the meeting was again canceled, and there were no specific answers from Ripple and SEC. SEC Unexpectedly Cancelling Closed-Door Meeting, What’s the agenda? The #Ripple …
The cryptocurrency market has displayed a strong bearish action since the week started, highlighting an increase in the selling-over-buying pressure. Further, the market leader, Bitcoin price has dropped approximately 3% over the past day, suggesting a negative outlook. Following this, the altcoin leader, Ethereum price has recorded a similar price action by recording a correction …
Matt Hougan, Chief Investment Officer (CIO) of Bitwise, claims in a new memo to investors following the 2024 Bitcoin Conference that the market may not be bullish enough about the future of BTC. The conference was a watershed moment that attracted massive political attention and could influence the future trajectory of Bitcoin heavily. Why You Are Not Bullish Enough On Bitcoin The conference featured a number of groundbreaking statements from high-profile political figures. First and foremost, GOP’s presidential candidate Donald Trump’s statement about building a national Bitcoin reserve caused huge waves. Trump articulated a vision of America as the “crypto capital of the world” and proposed the establishment of a “strategic Bitcoin stockpile”. Senator Cynthia Lummis (R-WY) presented a bill that would require the US Treasury Department to procure 1 million Bitcoin. Rep. Ro Khanna (D-CA) called on the Democratic Party to move away from previous restrictive policies and embrace cryptocurrencies as an integral part of the US financial system. Related Reading: Research Firm Predicts Bitcoin Game Theory In Global Adoption Race In an even more ambitious call, independent presidential candidate Robert F. Kennedy Jr. suggested that the US Treasury should acquire 4 million Bitcoin. This figure is intended to be equivalent to the US’s share of the world’s gold reserves. According to Hougan, the political discourse surrounding Bitcoin has rapidly evolved from skepticism to strategic acceptance, a transformation punctuated by recent crises and regulatory challenges. The collapse of FTX in late 2022, which marked one of the most significant upheavals in crypto history, casted a long shadow over the industry. However, as Hougan noted, the resilience of Bitcoin and the broader crypto market has been remarkable. “This is crazy. Less than two years ago, FTX was collapsing in a historic fraud, bitcoin was trading at $17,000, and skeptics were dancing on crypto’s grave. Now politicians are openly talking about building a ‘Bitcoin Fort Knox,’ Hougan writes. Related Reading: Hedge Fund Manager Says Bitcoin Price Will Reach $428,000 If This Happens He further points out that less than a year after the SEC’s aggressive action against Coinbase, the US Department of Justice is now cooperating with the same platform to secure its crypto operations, reflecting a broader recalibration of governmental attitudes towards Bitcoin and cryptocurrencies. Hougan suggests that these developments are not merely opportunistic but reflect a deeper recognition of cryptocurrencies’ growing influence in American society. “When you say ‘opportunism,’ I say, ‘That’s how politics works,'” Hougan stated, acknowledging the strategic shifts within the US political sphere. The implications for investors, according to Hougan, are profound. Investors need to reassess the potential scale of Bitcoin’s growth. Hougan highlighted the asymmetry in risk perceptions, where the focus has traditionally been on downside possibilities. “We spend a lot of time focused on downside risk […] However, there is now an equal risk to the upside,” he stated. The sentiment on Wall Street is also seeing a notable shift. In a conversation reported from the conference, Goldman Sachs CEO David Solomon referred to Bitcoin as a potential store of value, indicating growing interest from major financial institutions. The Bitwise CIO mused, “Could we wake up tomorrow and find out that a G20 country has added bitcoin to its balance sheet, looking to front-run the US? Could comprehensive crypto legislation get passed more quickly than expected in the US as bipartisan support strengthens? Could Wall Street massively embrace crypto, at a scale much larger than most expect? “ Overall, the 2024 Bitcoin Conference has evidently served as a catalyst for rethinking Bitcoin’s role on both national and global stages. “These ideas would have been the stuff of daydreams a year ago. But after what I witnessed last week, they look more likely than not,” Hougan concluded. At press time, BTC traded at $64,136. Featured image from YouTube / Mr. M Podcast, chart from TradingView.com
Kamala Harris’s odds surged to 45% on Polymarket following Donald Trump’s appearance at the National Association of Black Journalists (NABJ) panel. Polymarket, the prominent crypto betting platform, has seen a significant influx of wagers due to the turbulent US presidential election, prompting the platform to upgrade its infrastructure. According to Bloomberg, the platform added MoonPay […]
The post Harris odds surge to 43% on Polymarket after Trump’s NABJ panel, reaching $467 million wagered appeared first on CryptoSlate.
As Bitcoin drops under $65K, the broader market pullback intensifies and fuels a correction phase. With $225.34M worth of liquidations in the last 24 hours, $197.80M worth of bullish positions closed. As this puts additional stress on the altcoins, KAS price trend might struggle to continue its uptrend. With a long-term recovery rally in the …
The fund will be used to develop an accelerator program for projects built on Aptos.
The gender pay narrative in crypto now appears to be seeing a surprising twist, according to a recent survey from Pantera Research Lab. In the report, Pantera disclosed that women in the cryptocurrency industry earn significantly more than their male counterparts. This discovery overall suggests a progressive shift towards gender equity that contrasts with that […]
Big news! South Korea’s latest regulatory changes are set to impact major cryptocurrency exchanges like Upbit and Bithumb. Under the updated regulations, these platforms will now be required to pay supervisory fees, which could pose challenges for some exchanges. Overview of New Fees In the latest move towards crypto regulations, the Financial Services Commission announced …
With a bullish attempt to make a comeback this year, the XEC price trend shows a recovery rally in motion. However, the recovery trend is about to face multiple resistances along the way. Further, the broader market conditions warn of a surge in bearish sentiments in the altcoins segment. So, will the XEC price sustain …
Cardano (ADA), a major player in the crypto world, has seen its price tumble by 50% from a high of $0.8100 in March to $0.385. Despite a positive move from the SEC, which has declared ADA as not a security, the token is still struggling with strong sell pressure. This has left traders and analysts …
The cryptocurrency market has recorded a bearish price action for the fourth consecutive day, highlighting an increase in the negative influence within the crypto space. Furthermore, top tokens lose momentum this week as Bitcoin and Ethereum tokens hover close to their important support levels. On the other hand, the SOL price has failed to hold …
After hearing several influential US politicians embrace Bitcoin at a recent Bitcoin conference in Nashville, Bitwise’s Matt Hougan says “We’re not bullish enough.” In a July 31 post, Hougan said several recent promises made by these US politicians have prompted him to “rethink what’s possible” with Bitcoin. Hougan noted many politicians may not “truly love” …
Chainlink (LINK) price closed last month on a bearish note after slipping over 7.9 percent in the past two weeks to trade about $12.74 on Thursday, during the early Asian session. The mid-cap altcoin, with a fully diluted valuation of about $12.79 billion and a daily average traded volume of around $300 million, has however …
In the wake of the highly anticipated address by Federal Reserve Chair Jerome Powell, Bitcoin (BTC) maintained a steady course on Wednesday as the Fed opted to keep interest rates unchanged at 5.25%-5.50%. Crypto Market Awaits Fed’s Next Move Powell, speaking at a press conference in Washington DC, hinted at the possibility of rate reductions in September, contingent upon the economic performance in the weeks leading up to that month. “We’ve made no decisions about future meetings and that includes the September meeting,” Powell stated. “We’re getting closer to the point at which we’ll reduce our policy rate, but we’re not quite at that point yet.” Related Reading: This PEPE Holder Cohort Is The Reason Price Is Struggling To Reclaim $0.00002 In response to the Fed’s stance, crypto analysts weighed in on the implications for the digital currency space, with Michael van de Poppe, founder of MN Capital, expressing optimism over Powell’s “dovish outlook,” suggesting that a September rate cut remains a strong possibility. In his social media post, Van de Poppe expressed confidence that this development bodes well for both Bitcoin and altcoins, with an eye on the upcoming decision expected in September. Similarly, another analyst, Daan Crypto Trades, underscored Powell’s indication of a potential rate cut in September, projecting a high likelihood of its realization unless significant deviations occur following Consumer Price Index (CPI) readings. With 48 days remaining until the September meeting, Daan Crypto Trades proposed that market dynamics may revolve around this impending decision, potentially giving rise to short-term fluctuations after the initial rate adjustment in September. Bitcoin To Hit $1 Million In 2028? In a recent social media post, Timothy Peterson, a Bitcoin writer and researcher, unveiled a significant prediction for the largest cryptocurrency on the market that, if it holds true in time, could result in BTC’s price reaching unprecedented highs. According to Peterson, the Bitcoin price is directly and exponentially proportional to the square root of the number of Halvings that the network has undergone. In other words, the amount of new BTC introduced into circulation is cut in half approximately every four years, a process known as a Halving. “A combination of adoption curve math and Metcalfe’s Law puts Bitcoin’s price well over $500,000 by the next halving in 2028,” Peterson asserted. “This implies an annualized rate of return of about 70%.” Related Reading: XRP Analyst Thinks The Coin Is Ready To Skyrocket By 21,000% To Over $150 Peterson’s prediction is particularly noteworthy given Bitcoin’s current price of around $65,700, as if his prediction proves accurate, it would represent a massive increase of over 670% from current levels. Furthermore, the researcher suggests that Bitcoin should be “sustainably above $1 million” about 450 days after the next halving event in 2028, aligning with the observed pattern of previous Halving cycles, where Bitcoin has tended to experience a significant price surge in the years following each reduction in new supply. Featured image from DALL-E, chart from TradingView.com
Spot Ether ETFs could amass as much as $10 billion in assets under management within their first year of trading said Katalin Tischhauser, Head of Investment Research at Sygnum Bank and a former executive at Goldman Sachs. She predicted that Bitcoin ETF inflows would be in the $30 billion to $50 billion range for the …
DeFi lending and total value locked is recovering, but many related tokens are still at bear market lows.
Listings for pairs of Donald Trump’s limited-edition orange Bitcoin-themed sneakers are already on eBay, with scalpers hoping to sell their spot in the pre-order queue for as much as $2,500. At the time of writing, there are 12 listings on eBay for the ‘Bitcoin orange’ colored high-tops. Prices start as low as $700 via a …