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
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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
DeFi Technologies (DEFTF), a renowned Canadian fintech company, has recently made significant moves in the cryptocurrency market by acquiring a substantial amount of Bitcoin and expanding its portfolio to include altcoins. The company’s decision to make Bitcoin a core part of its treasury strategy has proven to be a successful one, with the recent purchase
BlockFi, a crypto lender that recently emerged from bankruptcy, has unveiled a significant development in its efforts to repay its clients. The company announced that it will start the first interim distribution of funds to clients through Coinbase this month. This distribution will be carried out in batches over the next few months, beginning in
Bitcoin has recently seen a recovery in its price after a month of bearish price action. The market is currently showing upward momentum, raising the possibility of hitting a new all-time high soon. On the daily chart, Bitcoin found support at the $56K level and reclaimed the 200-day moving average around $60K. Despite these positive
Shiba Inu (SHIB) has experienced a rollercoaster ride in terms of its price recently. The second-largest meme coin in terms of market capitalization saw a substantial surge in the past two weeks, with its price jumping by almost 20%. However, this rally was abruptly halted in the last 24 hours, with SHIB’s price dropping by
Cryptocurrency exchange OKX recently announced the discontinuation of its services in Nigeria, citing recent regulatory changes as the primary reason. Nigerian users of OKX received emails informing them that they have until August 30 to withdraw their assets from the platform. After August 16, users will no longer be able to open new positions, accounts,
