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,
Crypto
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
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
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 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
The cryptocurrency market has been experiencing a period of sideways movement, with Bitcoin struggling to break past the $67K mark. Despite attempting to exceed $68K recently, the price was met with selling pressure, resulting in a 1% loss over the past 24 hours. This choppy action has led to the liquidation of over $110 million
The recent Bitcoin options expiry event included around 20,000 contracts with a notional value of $1.35 billion. Although the impact of today’s expiry is expected to be minimal due to its smaller size compared to previous weeks, traders are closely watching upcoming events. On June 28, a massive Bitcoin options expiry with $6.7 billion in
The world of cryptocurrency has always been filled with controversies and scandals, and the latest allegations of insider trading in meme coin projects promoted by Andrew Tate and Iggy Azalea have once again brought the issue to the forefront. Blockchain analytics platform Bubblemaps recently came forward with claims of suspicious activity surrounding the launch of
