Despite increased selling pressure within the cryptocurrency market, the FTX price has recorded a bullish price action since the week started. This indicates an increase in the buying-over-selling pressure for the altcoin in the crypto space. Further, with questions like “How high will FTX go?” and “What’s the future of FTX Coin?” will FTT price …
In a busy start to August, Ripple has made headlines by moving a massive 1 billion XRP and unlocking 500 million tokens from escrow. This significant activity has come at a time when XRP’s price has slipped below $0.58, sparking both curiosity and concern among investors. Ripple’s Monthly 1 Bln XRP Unlock Blockchain payment project …
The market dynamics are changing every day. Some of the tokens are receiving huge traders’ attention and are displaying huge volatility, while others maintain a silent & stagnant trend. Many within the top 10 like BinanceCoin (BNB), Cardano (ADA), Toncoin (TON), etc have been trading without much noise but within a narrow range. Besides, altcoins …
Quick Take Bitcoin Farside data reveals inflows into the Bitcoin exchange-traded funds (ETFs) on Aug. 1 with the overall net inflow being $50.6 million. Grayscale BTC, the more affordable option at 15 basis points, attracted a substantial $191.1 million inflow. Conversely, the pricier GBTC, at 150 basis points, experienced an outflow of $71.3 million, contributing […]
The post Grayscale BTC attracts $191 million inflow amid continued outflows in other Bitcoin ETFs appeared first on CryptoSlate.
Four years ago, MicroStrategy co-founder and Chairman Michael Saylor, turned to Bitcoin as a way to invest the company’s excess cash rather than traditional assets like short-term Treasuries. This decision has transformed the software firm into the largest corporate holder of the largest cryptocurrency on the market, with a Bitcoin stockpile now worth nearly $15 […]
Long-term holders are motivated to hold at bitcoin's going market rate, implying an attractive risk-reward for existing or potential investors, according to the "reserve risk" indicator.
As the XRP lawsuit between Ripple Labs and the US Securities and Exchange Commission (SEC) inches closer to a ruling on remedies – the final ruling on district court level – the crypto community is abuzz with speculation about the potential repercussions for the XRP price. Notably, Rachelle Renee, a popular crypto pundit, has voiced a dissenting perspective via X, arguing that the forthcoming Ripple-SEC ruling will not significantly impact the price of XRP, contrary to the expectations of many investors. How Will The XRP Price React? Renee’s analysis starts with a sobering view on the nature of the legal resolution itself, which will penalize Ripple. “It is simply the details on how Ripple will be punished for the few minor indiscretions committed,” Renee explained. She expressed skepticism about the potential for this legal closure to serve as a catalyst for a substantial price increase of XRP. According to Renee, the pivotal moment for a possible price surge was when regulatory clarity was initially provided by Judge Torres in July last year, a milestone that has already been passed without a long lasting effect. “The point at which clarity was decided would have been the time to see it move upward in a big way. It did not,” Renee stated. Related Reading: XRP Price Breaks Out Of 6-Year Triangle, But Is A Rally To $1 Possible? She further elucidated that institutional investors, who might be considered a primary driver for such a surge, only required confirmation that it was legally permissible to buy, hold, and utilize XRP. This clearance has already been granted. Therefore, the details of how Ripple might be reprimanded for early sales of XRP are unlikely to sway their investment strategies: “Institutions only needed to hear it was legal now to buy, hold and use. That happened. They do not need to hear or if #ripple will be punished for a few early sales of XRP.” Renee concluded, “I hate to be the one to say it. But I do not think the final Ripple/SEC/Torres event will do anything for the price of XRP. The institutions that might drive a significant price increase already know it’s legal to engage with XRP, and the specifics of Ripple’s punishment are unlikely to influence their decisions further.” She further conceded that while a minor uptick in the XRP price could occur following the resolution, she firmly believes that “this will not be the moon shot” many are hoping for. Instead, Renee suggested that significant market movements for XRP would more likely result from new developments that demonstrate XRP’s utility and adoption by major global players, such as banks and financial institutions. Related Reading: XRP Goes To All-Time High If This Resistance Breaks: Crypto Analyst Contrasting with Renee’s tempered expectations, Bas van Gestel, another voice from the XRP community, presented a more bullish outlook. Van Gestel argued that the end of the Ripple-SEC case would catalyze a major surge in XRP’s price due to enhanced regulatory clarity attracting more investors, institutional adoption by major banks, and global partnerships that would broaden the currency’s use cases. Responding to van Gestel’s optimism, Renee reiterated her point that much of what was anticipated to drive a price surge has already occurred, with regulatory clarity being established over a year ago. She posed critical questions about the timing of the institutional adoption and significant global announcements that van Gestel cited as catalysts, suggesting that while these developments are possible and could be impactful, they have yet to materialize in a way that affects the XRP price meaningfully. “Since regulatory clarity was provided over a year ago, why have we not seen big announcements. I am a believer these announcements will come. But not as part of the final Torres case close,” Renee claims. At press time, XRP traded at $0.5632. Featured image created with DALL·E, chart from TradingView.com
With Ethereum facing the threat of a downfall under the $3,000 mark, the altcoins could find a similar threat. Amidst such increasing pressure, the bull run in the meme coins is under threat as the selling pressure grows. However, some meme coins are anticipated to make a quick comeback if the broader market recovers. So, …
The "makenowmeme" account on X purportedly provided a way for X users to create memecoins on Solana with a simple post.
As the bearish hold tightens over Bitcoin, the $65,000 level experiences a surge in supply waves. Amidst the dark clouds over crypto, the demand is shifting towards altcoins, which have a high potential for recovery if the market bounces back. With a potential recovery in the coming days, let’s take a closer look at such …
Some recent investigations suggest threatening news for the NFTs and cryptocurrencies scene connecting the deployer address for the BALL token to the Lil Hippie NFT project and Mr. Moe. This discovery has been made at a time when investors are complaining of being defrauded by the project’s developers in a rug pull scheme that saw …
Pump.fun crypto memecoins that make it onto Raydium have fallen since February and have remained “stagnant” at around 1.41% for months.
For months, analysts have been predicting an upcoming altcoin season, but these forecasts have yet to come true. Recently, with Bitcoin’s (BTC) price dropping to a two-month low at $63,860, speculation has resurfaced. While, the altcoin market cap stands at 213.364 Billion, renowned crypto analyst Michael van de Poppe, several key events are contributing to …
On-chain data shows the Bitcoin mining difficulty has gone through an increase of more than 10% in the latest network adjustment. Bitcoin Mining Difficulty Has Seen A Sharp Increase In Latest Adjustment The “mining difficulty” is a core feature of the Bitcoin blockchain that basically exists to control the inflation of the cryptocurrency. While BTC’s […]
Ether ETFs posted a net inflow of $26.7 million on Aug. 1, with inflows into BlackRock’s fund outpacing outflows from Grayscale’s Ethereum Trust.
India should consider revising its taxes on crypto and not depend on its anti-money laundering rules to reverse the impact of those high taxes, a survey of Indian investors by a New Delhi-based technology policy think tank revealed.
The attack occurred around 3 am UTC on Aug. 1, leading Convergence’s native token CVG to plummet over 99%.
Defunct Japanese-based Bitcoin exchange, Mt. Gox, has executed another massive BTC transfer, moving over $2 billion worth of BTC to crypto wallet addresses. The exchange’s repayment plan is nearing its end, experiencing a significant reduction in its previously substantial distribution funds. Mt. Gox Moves Over 33,000 BTC In a recent X (formerly Twitter) post, AI-powered blockchain analytics […]
Over the weekend, former U.S. President and current Republican nominee Donald Trump and a number of lawmakers spoke at the Bitcoin Nashville conference. The biggest piece of news everyone has been talking about was Trump and Sen. Cynthia Lummis' proposals to create a strategic reserve for Bitcoin, but the event also served as Sen. Tim Scott's entry into actual crypto discussion.
Describing the allegations as “misinformation” — Coinbase chief legal officer Paul Grewal said Coinbase was exempt from certain campaign finance regulations as it is not a federal contractor.
From August 13, French users will be unable to transact on the exchange other than to withdraw funds, Bybit announced Thursday.
The XRP price has seen significant volatility on Thursday, mirroring the broader market downturn. After a strong performance in July, which saw XRP outperform even Bitcoin with a gain of over 35%, the token has now dropped nearly 10% in the last 24 hours. Analysts Bullish On Long-Term Price Targets Market intelligence platform Santiment, has highlighted the performance of XRP’s blockchain ecosystem, the XRP Ledger (XRPL), despite this recent price drop. The platform attributes this success to heightened on-chain activity, major whale transactions, and significant network growth that propelled XRP’s 35% monthly surge during July. This comes as Ripple, the payment network associated with XRP, announced on Thursday a substantial allocation of $10 million towards a tokenized version of US Treasury bills (T-bills) on the XRP Ledger, contributing to the bullish sentiment surrounding the token. Related Reading: Bitcoin Makes Third Retest Of Historical Support, Analyst Sounds Alarm In light of this latest announcement, analysts remain divided on the short-term and long-term outlook for the XRP price. However, there is enough bullishness for the token to resume the uptrend it has been on for the past month. Some, such as crypto analyst “XRP Captain,” believe the token could eventually reach as high as $482.48 based on the $27 trillion US Treasury bill market that Ripple is aiming to participate in. This would represent a significant 790x increase from current levels. Similarly, analyst Mikybull has outlined both short and long-term price targets for the XRP price. In the immediate future, targets range from $2.5 to $3.5, while the long-term outlook suggests figures starting from $25 and potentially soaring higher, based on his analysis. Mikybull noted in his latest social media post on X (formerly Twitter) that the 2-month XRP/USD chart is “looking crazily primed to rip upward.” XRP Price At Crossroads Despite these optimistic projections, the XRP price faces a critical juncture. Key support levels must withstand pressure to facilitate a resumption of the positive momentum witnessed in July. Currently priced at $0.5739, XRP’s first major support rests at $0.5650 on the daily chart. A breach of this level could lead to a sharper downturn towards $0.5657 and potentially down to $0.5400, a crucial support level in the near term. Related Reading: New Memecoin Sensation Neiro Hits $200 Million Market Cap In Four Days Of particular importance is the $0.5400 level, which aligns with the 200-day exponential moving average (EMA). XRP traded below this for the past four months before successfully breaking through, leading to the 35% gains recorded in July. Ultimately, XRP’s ability to hold above these critical levels will be key in determining the coin’s near-term trajectory, especially as the current downtrend continues at the time of writing. Featured image from DALL-E, chart from TradingView.com
In recent times, Hong Kong has been continuously making it to the headlines in the crypto space for several reasons. One of the reasons as of today is that Futu Securities International, the largest online broker in Hong Kong introduced retail cryptocurrency–Bitcoin and Ethereum–trading to its platform. According to the latest report from South China […]
Grayscale's Mini Bitcoin Trust's rapid inflows highlight growing investor interest in low-cost Bitcoin exposure, impacting competing ETFs.
The post Grayscale Bitcoin Mini Trust records $191 million inflows after soft debut appeared first on Crypto Briefing.
Marathon Digital has missed consensus estimates for the second quarter in a row, though its year-on-year performance has risen by 78%.
The crypto advocacy group says it is hand-delivering letters to every US Senator explaining why Bitcoin would help the US secure its position as a world leader.
The XRP price has been experiencing notable movements since the last week of July, closely linked to updates about a potential settlement between the SEC and Ripple. This anticipation has significantly influenced XRP’s market performance, causing a remarkable surge in its price as it skyrocketed from $0.599 to $0.655 in just a matter of hours. Although the price has since corrected, this rapid increase has once again highlighted XRP’s potential and its ability to draw substantial investor interest. According to a crypto analyst, XRP is just waiting to break out of a symmetrical triangle in which it has consolidated for years. A breakout of the triangle would mean intense, full, bullish pressure on the price of XRP. XRP To Breakout Of Symmetrical Triangle The analysis of the XRP price movement, recently shared on the social media platform X by the prominent crypto analyst Ali Martinez, has captured significant attention. Martinez’s detailed examination reveals that the XRP pri has been consolidating within a symmetrical triangle pattern for the past six years. According to the monthly candlestick XRP price chart he posted, this consolidation phase began after XRP reached its all-time high of $3.40 during the early 2018 bull market, which triggered a bearish run until it bottomed out at $0.11 in 2020. Since then, XRP’s price has been characterized by a series of lower highs and higher lows, which has resulted in the formation of the symmetrical triangle pattern observed by Martinez. Symmetrical triangle patterns typically indicate periods of consolidation before a significant price movement. For XRP, this period of consolidation has been notably prolonged, extending beyond the usual timeframe expected for such patterns. This extended consolidation has been further exacerbated by Ripple’s legal issues with the SEC, which have stunted the crypto’s price since December 2020. A breakout from this symmetrical triangle would signal the beginning of intense bullish pressure on XRP’s price, potentially leading to a substantial upward trend. Martinez highlights that the critical breakout point for XRP is around $0.90. He suggests that surpassing this level could be the catalyst for a substantial upward trend. In his own words, “A bullish breakout could occur if #XRP surpasses $0.90.” XRP Price Rally to $1? The XRP price has increasingly been in the spotlight in the past year as the Ripple-SEC lawsuit seems to be drawing to a close. This increase in activity has seen the cryptocurrency inch closer to the breakout level of $0.90. On-chain data provides further insights into the growing optimism around XRP’s future performance. Many investors are anticipating a bullish run for XRP and are already positioning themselves accordingly. According to data from Santiment, there has been a notable increase in shark and whale wallets over the past five weeks. These wallets, which hold at least 10,000 XRP each, have seen a significant uptick. Wallets falling into this category are now around 279,400 addresses, which suggests increased accumulation. Featured image created with Dall.E, chart from Tradingview.com
Positive sentiments around XRP have increased lately due to its recent upward bullish momentum, garnering several audacious predictions from cryptocurrency analysts about the digital asset’s next trajectory on the upside. However, market expert and enthusiast, Crypto Michael, has brushed off the idea that XRP would rise 300 times its current price level, noting that such […]
The ongoing crypto correction triggered by the high-impact news on Wednesday has not spared Ripple Labs-backed XRP in the past 24 hours. The large-cap altcoin, with a fully diluted valuation of about $60 billion and a daily average traded volume of around $2 billion, dropped nearly 8 percent in the last 24 hours to trade …
Coinbase has marked its third consecutive quarter in the black, with its net revenue and trading volumes jumping 108% and 145%, respectively, from the prior year.