Bitcoin recently experienced a sharp dip below $50,000, triggering a cascade effect on other cryptocurrencies in the market. This unexpected downturn left many short-term holders facing unrealized losses and led to a period of consolidation that has lasted longer than anticipated. A report from Glassnode indicates that the crash was primarily driven by an overreaction
The recent spike in Bitcoin (BTC) prices, with a surge of over 6%, can be attributed to Federal Reserve Chairman Jerome Powell’s announcement of potential adjustments to policy. This unexpected news has led to increased volatility in the Bitcoin market, causing prices to fluctuate unpredictably in recent weeks. Despite the volatility, on-chain data from CryptoQuant
The recent performance of Bitcoin ETFs has been nothing short of impressive, with over $500 million flowing into the largest US-based products. On the contrary, Ethereum ETFs are facing challenges, with minimal trading volumes and consistent withdrawals. Bitcoin ETFs experienced a setback at the beginning of the month, losing more than $550 million in just
The recent statements by Federal Reserve chairman Jerome Powell have caused a stir in the financial markets. The endorsement of rate cuts opens up a new realm of possibilities for the economy. Powell’s assertion that it’s not a matter of if there will be cuts but how deep to make them signals a significant shift
Cardano, the blockchain platform founded by Charles Hoskinson, has announced a delay in the highly anticipated Chang hardfork. Originally scheduled for August 27, 2024, the hardfork will now take place on September 1, 2024. The reason for this delay, according to Hoskinson, is to give exchanges such as Binance more time to prepare for the
Ethereum (ETH) seems to have weathered the storm, with various indicators suggesting that the worst may be behind the second-largest cryptocurrency by market capitalization. One key metric, the market value to realized value (MVRV) lowest pricing level, currently stands at $1,687, indicating that the bottom may have already been reached for ETH. This metric is
The cryptocurrency market is currently experiencing a mix of price stagnation and volatility, causing investors to eagerly anticipate the upcoming Pectra upgrade for the Ethereum (ETH) network. Scheduled for the first quarter of 2025, this major update is expected to bring significant advancements to the network, attracting the attention of bullish analysts who believe it
A shocking case of embezzlement has come to light in Kansas where a former bank executive, Shan Hanes, was sentenced to 293 months in federal prison for stealing $47.1 million in a cryptocurrency fraud scheme. Hanes, who was the former CEO of Heartland Tri-State Bank (HTSB), admitted to executing 11 unauthorized wire transfers over a
Indian cryptocurrency exchange WazirX is facing challenges in its restructuring process, as external parties not invested in the platform are attempting to prolong the process for their own gains. The exchange has highlighted that these parties are creating uncertainty and hindering the resolution process, rather than working towards a solution. Following a major security breach
Opeyemi, a dedicated writer, has found his passion in the dynamic and extraordinary realm of cryptocurrency. Despite not initially choosing the digital asset industry, he has been captivated by it for over two years. His commitment to creating unique content that demystifies blockchain technology and provides insights into cryptocurrency trends is truly commendable. Opeyemi’s fascination
