Bitcoin has recently experienced a drop to a monthly low of $65,000, marking a 5% decrease from the previous week. Despite this short-term fluctuation, the overall trend shows that Bitcoin has been consolidating since early March. This period of relative stability is unusual for Bitcoin, with analyst James Check noting that the 30-day price range
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Recent events in the ongoing feud between Nigeria and Binance have taken an interesting turn. The Federal Inland Revenue Service (FIRS) of Nigeria has decided to drop the tax evasion charges against Tigran Gambaryan, Binance’s head of financial crime compliance, and Nadeem Anjarwalla, the exchange’s director for Africa operations. This decision comes after a series
Bitcoin (BTC) has taken a hit in the past week, dropping by 4.5% and reaching a monthly low of $65,000. This decline in value may be attributed to a rise in selling from mining entities. According to the latest CryptoQuant weekly report, Bitcoin mining entities have been sending a significant amount of BTC to exchanges,
Ripple has recently announced its plan to launch a stablecoin named Ripple USD (RLUSD) in 2024 on both the XRP Ledger and Ethereum. The company sees this stablecoin as a way to bridge the gap between traditional finance and the cryptocurrency industry. However, this move has already faced criticism from the SEC for being an
In May, KuCoin exchange’s research arm released a report on cryptocurrency performance, noting $1 billion in new investments, which represented a slight decrease from the previous month. The report highlighted that institutional investors predominantly favored Ethereum and EVM-focused platforms during this period. Over 50% of the projects received financing between $1 million and $10 million,
Recent findings from blockchain intelligence firm TRM Labs have brought to light the significant increase in cryptocurrency deposits into crypto addresses associated with Chinese drug precursor manufacturers. The data reveals that these deposits more than doubled in the first four months of 2024 compared to the same period in 2023. In 2023, Chinese precursor networks
Bitcoin has faced a challenging week, experiencing a 4.65% decrease in its market price over the last seven days. Analysts, including Ali Martinez, have raised concerns about the potential for further losses if Bitcoin fails to secure a crucial support zone. Martinez emphasized the importance of Bitcoin rising above $66,254 to avoid a potential correction
Speculation surrounding the commencement of trading for the Spot Ethereum ETFs continues to intensify. Analysts from Bloomberg, including Eric Balchunas and James Seyffart, have recently shared their insights on when they believe these funds will finally hit the market. Balchunas, in a social media post on X (formerly Twitter), announced that they are adjusting their
Ethereum faced a 4.4% loss this week, signaling a shift in momentum towards the bearish side. The key support at $3,500 has been tested as sellers took control of the price action. While this pullback could be seen as a normal retest following the massive breakout after the ETF confirmation, it is essential for buyers
Currency has played a crucial role in shaping human societies throughout history. From bartering systems to the establishment of coins and paper money, the evolution of currency has been closely tied to the advancement of civilizations. However, recent decades have seen a shift towards financial chaos in many parts of the world, raising questions about
