The recent economic uncertainty in the United States has taken a toll on the cryptocurrency market, with Bitcoin experiencing a sharp decline in price. In the past day, the asset plummeted to $60,500, marking its lowest point in nearly three weeks. This steep drop has also affected altcoins, such as SOL, TON, and UNI, which
Crypto
Bitfarms, a Toronto-based Bitcoin mining company, recently announced that its operational hash rate had reached 11.1 EH/s by the end of July. This marked a significant 109% year-over-year increase and a 7% rise month-over-month. The company’s average operational hash rate for the month was 10.3 EH/s, representing a 36% increase from June. Despite facing a
MicroStrategy, the prominent Bitcoin holder, recently disclosed its intention to raise up to $2 billion by selling its class A shares. This announcement was made in a filing with the U.S. Securities and Exchange Commission, indicating the company’s strategic move towards acquiring more Bitcoin. Despite the lack of a specific timeline for the share sale,
Cryptocurrency trading is gaining momentum in Hong Kong, with Futu Securities International leading the way as the largest online broker in the city-state to offer retail crypto trading. This move has attracted investors with the opportunity to trade bitcoin and ether on the brokerage platform with Hong Kong or US Dollars. Futu has partnered with
Ripple’s XRP recently experienced a notable surge in price, rallying to a four-month high of $0.66. However, this upward momentum was short-lived, as the bears quickly took control, causing the price to drop to around $0.56. This 14% decline from its local top has left many investors concerned about the future trajectory of XRP. Veteran
Ethereum faced a challenging week as it experienced a 3% loss in its price. The support level at $3,300 was lost, now acting as a key resistance. The current support has shifted to $2,800, indicating a bearish trend. The MACD and RSI indicators also suggest that sellers have the upper hand in the market. Buyers
In recent months, the decentralized finance (DeFi) sector has been experiencing a notable resurgence, with key metrics such as active loans and total value locked (TVL) showing significant growth from their lows in 2023. DeFi lending, which allows investors to lend their crypto assets in exchange for interest, serves as a crucial indicator of participation
In the aftermath of the Bitcoin2024 conference, Bitwise CIO Matt Hougan has made a daring call to crypto investors, urging them to reconsider the potential upside of Bitcoin. Despite the market’s historic concerns about downside risks and volatility, Hougan believes that recent developments at the conference indicate that the market is not bullish enough about
The recent data concerning Ethereum ETFs in the US has shown a concerning trend of net outflows, with a total of $77.21 million leaving the market on Wednesday. This comes as Ether’s price struggles to stay above the $3,200 mark, signaling a lack of confidence among investors in the cryptocurrency. One of the most significant
Meme coins, once the talk of the town in the crypto world, are now facing a significant cooling off period in the second quarter of 2024. Recent findings suggest that only a select few meme coins have managed to record gains in the past 30 days, with lesser-known tokens taking the spotlight. The frenzy around
