The European Central Bank (ECB) is currently in a two-year preparation phase for the digital Euro Central Bank Digital Currency (CBDC) that is set to end in October 2025. While the central bank has emphasized privacy and data protection as its top priorities, there are concerning features associated with the digital currency that could result
Crypto
Ethereum has experienced a 3% decline this week, with buyers facing challenges in defending the key support level at $3,500. The inability to prevent a breakdown could result in a difficult week ahead for ETH. The recent trend of closing with a lower low for the past five weekly candles indicates a clear downtrend. To
The cryptocurrency markets are experiencing a decline today with Bitcoin sliding toward $60K. The total capitalization has decreased to $2.37 trillion, and trading volumes are relatively low. Over the past 24 hours, Bitcoin’s price has dropped by 1.3%, resulting in total losses of about 6% for the week. The trading volume across the board is
In a bold move, T-Rex Group, a financial services company, has filed for a 2x leveraged MicroStrategy (MSTR) exchange-traded fund (ETF) in the United States. This new financial vehicle has the potential to be the most volatile ETF in the country, magnifying the daily performance of MicroStrategy’s stock by 200%. If approved, this fund could
The prediction regarding potential interest rate cuts by the U.S. central bank in September or November does not necessarily imply a sharp correction in the markets. Analyst ‘RamenPanda’ suggests that historical patterns, as seen in 2008, do not always dictate the immediate outcome of rate cuts. While rate cuts during financial crises may have led
As we approach the end of the week, approximately 107,000 Bitcoin options contracts are set to expire, representing a notional value of $6.6 billion. This end-of-month expiry event is significantly larger than typical end-of-week expiries, which may result in increased market volatility. Interestingly, the put/call ratio for today’s BTC derivatives stands at 0.5, indicating that
Bitcoin, the leading cryptocurrency, experienced a rollercoaster of price movements in the past week. Starting at over $64,000 on Monday after a quiet weekend, Bitcoin seemed to be on a steady trajectory. However, the bears quickly took control, causing a significant drop to $58,400 in just a few hours. Despite this sudden decline, the bulls
Recently, Binance made a significant announcement regarding the implementation of stricter measures to combat account misuse on their platform. This move comes as a response to instances where certain account features were being exploited to gain unfair advantages over other users. Binance revealed that they have detected misuse and exploitation of account features, such as
CleanSpark, a prominent publicly traded Bitcoin mining firm, recently announced the acquisition of one of its smaller competitors, GRIID Infrastructure, in an all-stock deal worth $155 million. This acquisition immediately brings 20 megawatts (MW) of additional power to CleanSpark for its mining operations. In addition, another 400 MW of power is expected to be added
The US Securities and Exchange Commission (SEC) is currently in the final stages of discussions with several asset managers regarding the approval of spot Ethereum ETFs. Big names such as BlackRock, Franklin Templeton, and Grayscale Investments are among the eight asset managers involved in this process. These firms have previously launched spot Bitcoin ETFs and
