Coinbase’s third comment letter to the US Securities and Exchange Commission (SEC) highlighted significant flaws in the SEC’s cost-benefit analysis of the proposed rule. The letter argued that the agency failed to assess the rule’s economic impact on efficiency, competition, and capital formation. Despite acknowledging a lack of critical information on decentralized exchange (DEX) operations
Crypto
The current state of the market has brought significant financial stress to new Bitcoin investors. Various metrics point towards a bearish environment and shed light on factors that are contributing to heightened market volatility, increased selling pressure, and further price declines. Metrics such as the Short-Term Holder MVRV (Market Value to Realized Value) and the
Recently, the US spot Ethereum ETFs have seen a surge in inflows, with a total of $4.9 million recorded on Monday. This increase in investment activity is a positive sign for the market, indicating growing interest in Ethereum among investors. On August 12th, the trading volume for these ETFs was robust, reaching $286 million. This
Sui (SUI) has witnessed a remarkable surge in its price, with a staggering 70% increase over the span of just one week. This significant growth has caught the attention of many investors and industry experts, leading to a wave of optimism surrounding the cryptocurrency. The launch of Grayscale’s Sui Trust has been identified as a
Over the past week, Ethereum has experienced significant inflows totaling $155 million, marking a positive trend in investor sentiment. These inflows have boosted Ethereum’s year-to-date total inflows to $862 million, the highest since 2021. This surge can be attributed to the introduction of US spot-based ETFs, which have sparked renewed interest in Ethereum as an
A CryptoQuant analyst recently shared insights suggesting that Ether (ETH) may be on the verge of a rally based on metrics in the cryptocurrency’s futures market. The analyst, known as Shayan, pointed out a significant liquidation event in the ETH market, historically signaling potential price rallies as markets stabilize and spot buying pressure increases. Earlier
Binance, the world’s largest cryptocurrency exchange, recently announced the delisting of six altcoins from its platform. This decision has caused significant price drops for the affected assets, highlighting the potential impact that exchange actions can have on the market. Binance periodically reviews each digital asset listed on its platform to ensure that they meet high
XRP, the digital asset associated with Ripple, experienced a significant surge in price last week following a court ruling in the ongoing legal battle between Ripple and the SEC. The price of XRP jumped by 20% in a single day, reaching almost $0.64, with its market capitalization surpassing $35 billion. The price rally came on
As bitcoin experiences another retreat, analysts are closely examining technical indicators to gain insights into its next direction. One such indicator is the liquidity heatmap, which recently highlighted key first-test lines at approximately $56,800. According to CoinGlass, if BTC prices successfully bounce off this level, it may test higher ones. However, a weaker bounce could
Toronto-based Bitcoin mining company Bitfarms recently reported a total revenue of $42 million, representing a 16% decline quarter-over-quarter. This decrease is primarily attributed to the reduction in block rewards following the BTC halving event that took place on April 19, 2024. Bitfarms also reported a significant net loss of $27 million, or $0.07 per share.
