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
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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
Bitcoin has been struggling to break past its recent all-time high of over $73,000, but Bernstein, a well-known brokerage firm, remains bullish about the future trajectory of the asset. In fact, in its latest report, analysts at Bernstein have revised their long-term price forecast for Bitcoin to $200,000 by the end of 2025. This is
Bitcoin has experienced a notable downturn in price over the last week, with on-chain data indicating a significant amount of selling pressure. One key factor contributing to this bearish trend is the action of Bitcoin miners. According to recent reports, miners have been actively selling off their BTC holdings in the open market. The most
Bitcoin has been on a wild ride in the past few days, with its price plummeting to $65,000 – a level last seen about a month ago. The asset bounced back to over $70,000 on Monday, only to drop again to $66,000 amid fears surrounding the US CPI numbers and the FOMC meeting. While bitcoin
