This is the first time Google’s taken the top slot on the Chatbot Arena leaderboard.
Coinbase quarterly transaction revenue was $781 million, down 27% from the first three months of 2024.
On-chain data shows a particular Bitcoin whale who accumulated almost $400 million between July 30 and 31. This whale is believed to have purchased the flagship crypto, having seen an opportunity to profit massively thanks to Bitcoin’s recent price action. Bitcoin Whale Purchases Almost $400 Million Worth Of BTC On-chain analytics platform Lookonchain revealed in an X (formerly Twitter) post that a Bitcoin whale (12QVs…oN2qo) has withdrawn 5,800 BTC ($387.88 million) from Binance in the past two days. This purchase suggests the whale anticipates higher prices from the flagship crypto soon enough and is looking to profit from such a price rally when the time comes. Interestingly, this purchase comes amid a decline in Bitcoin’s price, meaning that the whale sees this as a ‘buy the dip’ opportunity. Bitcoin dropped to as low as $63,500 on July 31, having rebounded to almost $70,000 days ago. This price drop can be attributed to several factors, including concerns over reports that Iran had ordered a retaliatory attack against Israel for killing Hamas leader Ismail Haniyeh in Tehran. The Federal Open Market Committee (FOMC) meeting was held on July 31, and the Federal Reserve left interest rates unchanged. Fed Chair Jerome Powell also said little to suggest that an interest rate cut could come in September, another factor contributing to Bitcoin’s recent decline. Despite its recent decline, Bitcoin is expected to enjoy another rebound soon enough and possibly break above the $70,000 range on its next leg up and rise to an all-time high (ATH). Crypto analyst Michael van de Poppe recently mentioned that Bitcoin looks good to continue toward a new ATH next month as long as the flagship crypto stays above $60,000 to $62,000. Whales Heavily Accumulated BTC In July Data from the market intelligence platform IntoTheBlock shows that Bitcoin whales, holding at least 0.1% of BTC’s circulating supply, bought over 84,000 BTC in July. This represents these whales’ largest monthly wave of Bitcoin accumulation since October 2014. These investors looked to take advantage of the price dips that Bitcoin suffered in July. Bitcoin’s price crashes in June extended into the beginning of July, as the flagship crypto dropped to as low as $55,000. However, this BTC accumulation from these whales paid off, as the crypto token enjoyed a massive rebound in the latter parts of July and a monthly close in the green. These whales will still hope Bitcoin can record more impressive gains in August. Data from Cryptorank shows that Bitcoin has historically not enjoyed the best price action in August, ending the month in the red on eight occasions since 2011. At the time of writing, Bitcoin is trading at around $64,400, down almost 3% in the last 24 hours, according to data from CoinMarketCap. Featured image created with Dall.E, chart from Tradingview.com
Bitcoin’s price continues to correct, but BTC options markets reflect traders’ interest in the $62,000 level.
On August 2, 2024, Michael Saylor the founder and chairman of MicroStrategy announced that they have added a 169 Bitcoin (BTC) worth $11.4 million in July 2024. With this decent acquisition, MicroStrategy now holds a massive 226,500 BTC worth $8.3 billion. In July, @MicroStrategy acquired an additional 169 BTC for $11.4 million and now holds …
Coinbase reported total revenue of $1.449 billion for the second quarter, beating the market consensus estimate of $1.396 billion. Its total income for the same period last year was $674.1 million. Meanwhile, the exchange’s net income for the period was $36 million, compared to a net loss of $97 million in 2023. EPS for the […]
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According to researcher Tom Wan, tokenized United States Treasury funds could see $3 billion in capital investment by the end of 2024.
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 […]
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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 […]
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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.