The past week has been quite eventful for the cryptocurrency markets, with Bitcoin leading the way in terms of price surges. Despite facing some resistance at the $68K level, Bitcoin managed to increase by 11% over the past seven days. This upward trend began on July 14th and has been mostly positive since then. Currently,
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Three individuals have been apprehended by the Hong Kong police on charges of defrauding a businessman of HK$3.11 million in crypto assets. The suspects allegedly offered the victim three bundles of counterfeit HK$1,000 banknotes during a transaction at a Mong Kok office. According to a source, the 44-year-old businessman was presented with what appeared to
State Street Corp., a prominent player in traditional finance based in Boston, is reportedly looking into launching its own stablecoin and tokenized deposits to enhance payment settlement processes through blockchain technology. This move signifies the bank’s active efforts to delve into the world of cryptocurrencies and digital assets. In addition to focusing on stablecoin initiatives,
Kraken Institutional, the institutional investor division of the US-based crypto exchange Kraken, has recently announced the expansion of its custody services into the UK and Australia. This move comes after the division’s initial launch earlier this year and aims to provide institutional clients in these regions with the opportunity to securely store, manage, and transfer
In the fast-paced world of cryptocurrency, certain trends and phenomena tend to capture the attention of both seasoned investors and newcomers alike. One such trend that has gained significant traction in the first half of 2024 is the emergence of dog-themed meme coins. These digital assets, such as Dogecoin (DOGE) and Shiba Inu (SHIB), have
Over the past weekend, Bitcoin (BTC) experienced a significant rally in its price, suggesting a possible bottoming out of the crypto asset. Bitcoin surged to a high of $67,000, although it was trading around $64,000 at the time of this analysis. This increase comes after holders incurred their largest losses in 2024. Analysts at CryptoQuant
The trading volume on centralized exchanges has seen a significant decline of 21.8% in June, continuing a trend that started in March. The report by CCData highlights various factors contributing to this decline. One major factor is the decrease in open interest in derivatives exchanges, which fell by 9.67% to $47.11 billion in June. This
Ethereum showcased a strong recovery this week, closing with a 12% price increase. The market rally allowed ETH to establish $3,300 as a key support level, setting the stage for a potential push towards $4,000. However, resistance at this level remains a challenge, as evidenced by previous rejections in May. While optimism is returning to
Shiba Inu, a meme coin that has gained significant popularity in recent times, experienced a sudden surge in its burn rate. In a span of just 24 hours, the burn rate increased by a staggering 450%, resulting in approximately 50 million tokens being sent to a null address. While the USD equivalent of this may
Ethereum co-founder Vitalik Buterin has recently cautioned against the practice of basing political support solely on a candidate’s pro-crypto positions. While recognizing the significance of cryptocurrency in the technological landscape, Buterin stressed the need to consider broader values such as individual freedoms and societal advancement. He highlighted that focusing solely on cryptocurrency support could potentially
