Bitcoin (BTC) has been consolidating in the past weeks as it continues to range below $61,000. Amid this period of consolidation, there now appears to be a shift with an increase in one of Bitcoin’s notable metrics suggesting a “market consolidation finale.” According to a recent analysis by CryptoQuant analyst Axel Adler Jr, there has…
Last week, investment funds related to digital assets received another relatively small inflow, continuing a two-week trend. More invoicing can be observed in the investment funds sector, which experienced a net inflow of $30 million during the previous week. Indeed, Bitcoin was among the notable gains in investor interest this week. Bitcoin once again dominated…
MATIC breaks a long-term downtrend, signaling potential for upward momentum backed by bullish indicators. AAVE surges over 50%, confirming its breakout with strong technical support from RSI and MACD. Both MATIC and AAVE show signs of sustained growth, driven by bullish market sentiment and breakouts. Polygon (MATIC) and Aave (AAVE), two prominent cryptocurrencies, have recently…
According to market expert Jamie Coutts, after an extended period of consolidation and lackluster performance by the two largest cryptocurrencies, Bitcoin (BTC) and Ethereum (ETH), the market may be poised for a resurgence. Coutts believes the ingredients are in place for a broad altcoin rally, following in the footsteps of the “insane” bull run of…
Bitcoin price declined by 2.58% in the last 24 hours, slipping down to $58.6K. Mt. Gox has moved 13,265 BTC worth $784 million. Bitcoin (BTC) has fallen below $59,000 again, leaving traders and investors anxious with its intense consolidation phase. The largest cap cryptocurrency has been in a crisis to maintain its position above the…
El Salvador’s National Bitcoin Office (ONBTC) has launched a Bitcoin training and certification program for 80,000 public servants. In an Aug. 20 statement, ONBTC confirmed that Bitcoin education is now a vital component of a governance initiative designed for public sector employees. This program is part of the Higher School of Innovation in Public Administration…
August 21, 2024 at 02:17 PM GST updated: August 21, 2024 at 11:39 AM 2 mins read News Michael Saylor’s bold tweet claims Bitcoin is “going up forever” after its recent surge past $61K, despite a slight pullback. MicroStrategy boosts its Bitcoin stash to 226,500 BTC, raising $2B to buy more, signalling confidence in future…
Dogecoin is trading within a descending wedge pattern, indicating potential for a breakout. An analyst predicts Dogecoin would break above key resistance, triggering a 100% rally. DOGE has respected key support levels, and analysts believe a bullish breakout to $0.2 may be imminent. Dogecoin is on the verge of a bullish rally, as the crypto…
August 21, 2024 at 01:17 PM GST updated: August 21, 2024 at 11:29 AM 2 mins read News Bitcoin miners might benefit from the AI sector’s rising energy demands, potentially transforming the mining landscape. Bitcoin mining stocks have a notable valuation gap compared to data center stocks, with early movers seeing gains. Bitcoin miners face…
Bitcoin’s dominance has surged to 56%, driven by Long-Term Holders’ steadfast commitment to HODLing. Short-Term Holders face mounting unrealized losses, risking potential market panic and sell-offs. Despite market turbulence, Bitcoin attracts capital, with stablecoins and altcoins losing dominance. Bitcoin, the leading digital asset, continues to dominate the cryptocurrency market. According to data from Glassnode, Bitcoin…
El Salvador announced it is launching a Bitcoin certification program for 80,000 civil servants, as part of its commitment to integrating Bitcoin into its economy and governance. The program, called “Certification in Public Administration 1,” is a 160-hour virtual and asynchronous course divided into seven modules. Each module aims to impart essential knowledge about Bitcoin,…
Bitcoin has certain on-chain resistance levels coming up that could threaten future rallies. Here are the exact prices at which they lie. Bitcoin Short-Term Holders Have Their Cost Basis At These Levels Ahead As explained by CryptoQuant author Axel Adler Jr in a new post on X, the BTC short-term holders currently have their cost…
Changpeng Zhao, former CEO of Binance, is facing a class action lawsuit related to money laundering. Three crypto investors have claimed to have lost their digital assets due to the exchange’s failure to prevent money laundering. In a complaint filed on August 16, 2024, before the District Court for the Western District of Washington, Seattle,…
August 21, 2024 at 12:36 PM GST 2 mins read News Cardano’s August 27th hard fork marks the start of decentralized governance under the Age of Voltaire. The hard fork will unlock Cardano’s $600 million sovereign wealth fund for community-driven decision-making. Cardano’s governance evolution focuses on reliability, collective intelligence, and decentralization. Cardano is about to…
Brazil’s second Solana ETF approved, expanding crypto options and boosting digital asset engagement. Hashdex and BTG Pactual launch new Solana ETF, enhancing Brazil’s crypto investment landscape. Despite Solana’s price volatility, Brazil’s progressive stance on crypto ETFs show growing market confidence. Brazil’s financial landscape is set to see a new addition to its cryptocurrency investment options…
Bitwise, the largest US crypto index fund manager, has acquired London-based ETC Group, a prominent issuer of crypto exchange-traded products (ETPs), marking a significant expansion into the European market. The acquisition adds over $1 billion in assets under management (AUM) to Bitwise’s portfolio, bringing its total AUM to over $4.5 billion. ETC Group, founded in…
Binance faces a new class action, accused of aiding in money laundering, with potential RICO statute violations. The lawsuit claims Binance’s actions blocked stolen crypto recovery, challenging blockchain transparency claims. Zhao’s legal woes deepen as Binance faces new allegations, with previous fines and imprisonment intensifying scrutiny. Binance and its former CEO, Changpeng Zhao, are facing…
A previously inactive Bitcoin wallet, containing about 24 BTC, has reappeared after a period of 10.8 years of inactivity. The wallet initially acquired 24 BTC on November 16, 2013, when the value of Bitcoin was $438.83. The coins would have been acquired at a cost of around $10,915 by the owner. Currently, the identical 24…
The world’s largest cryptocurrency, Bitcoin (BTC), has struggled to maintain a foothold above the critical $60,000 price level in recent trading sessions, as the digital asset finds itself caught in a tug-of-war between bullish and bearish forces. After recovering from a dip below $49,000 earlier this month, Bitcoin has been vacillating around the $60,000 mark,…
Digital asset investment funds witnessed another week of inflows last week, albeit at a small amount, to extend the run of inflows to two consecutive weeks. Notably, investment funds attracted a net inflow of $30 million last week. One of the key highlights of the week was Bitcoin’s strong performance in attracting investor interest. After…
Mt. Gox, the defunct cryptocurrency exchange, has made headlines again by transferring around 12,000 BTC—valued at approximately $709.44 million—to a new wallet address late on Tuesday night, according to blockchain analytics firm Arkham. This significant movement occurred at around 11:39 p.m. UTC, raising eyebrows within the crypto community. We’re all watching closely. Here’s what you…
A Utah woman, Krista Renae Stone, 23, was sentenced to 78 months in federal prison for attempting to orchestrate a murder-for-hire using the dark web, the U.S. Department of Justice (DOJ) announced on Monday. Stone targeted her ex-boyfriend’s new girlfriend, arranging to pay $5,000 in bitcoin to a website offering hitman services between March and…
August 21, 2024 at 06:30 AM GST updated: August 21, 2024 at 12:56 AM 2 mins read News Binance Labs invests in Corn, a DeFi hub, to enhance Bitcoin’s utility. Corn introduces BTCN, blending custodians and smart contracts for Bitcoin. Corn’s fundraising signals market confidence in Bitcoin’s DeFi potential. Binance Labs has invested in Corn,…
Tokyo-listed Metaplanet has once again expanded its Bitcoin (BTC) reserves, making headlines with a ¥500 million acquisition that sent its stock up 13%, according to Yahoo Finance data. This latest purchase adds 57.273 BTC to his holdings, bringing the total to 360.368 BTC. Metaplanet’s bold move comes at a time when traditional financial assets are under pressure, with…
August 20, 2024 at 04:10 PM GST updated: August 20, 2024 at 04:12 PM 2 mins read News CryptoQuant’s Hash Ribbons records a recovery in Bitcoin mining, indicating a positive market adjustment. Despite a record high in mining difficulty, strategic adaptations hint at long-term resilience. TeraWulf diversifies into AI and high-performance computing, showcasing industry innovation….
Bitfufu Inc., a Nasdaq-listed cloud mining services company, announced a 69.7% revenue jump for the second quarter of 2024, bringing in $129.4 million. The Singapore-based firm, established in 2020 by CEO Leo Lu, credited this growth largely to a substantial increase in cloud mining revenue, which made up more than half of the quarter’s earnings….
August 20, 2024 at 05:00 PM GST updated: August 20, 2024 at 06:45 PM 2 mins read News A whale wallet amassed 1,953 WBTC ($118M), sparking concerns amid ongoing ownership changes. MakerDAO prohibited new WBTC borrowing following ownership shifts. Coinbase hinted at launching a new wrapped Bitcoin token, “cbBTC.” The Bitcoin community is concerned about…
Harris may appoint SEC Chair Gensler as Treasury Secretary, stirring debate in political and crypto circles. GOP opposes Gensler’s potential Treasury role, citing his aggressive actions against crypto firms under the SEC. Gensler’s nomination faces uncertainty despite strong Democratic support and ongoing internal debates. A recent report from the Washington Reporter has stirred significant debate…
Polkadot consolidating in a falling wedge suggests a potential bounce back as it stabilizes within key trendlines. FET breakout from a descending channel indicates strong bullish momentum, with potential for further gains. DOT faces resistance at upper trendlines, while FET could find support at previous resistance levels if retracement occurs. Polkadot (DOT) and Fetch.ai (FET)…
Bitcoin has made a recovery back towards the $61,000 level during the past day. Here are the factors that could be behind this surge. Bitcoin Has Made Some Recovery During The Last 24 Hours After showing lackluster price action under $60,000 during the past few days, Bitcoin has finally shown some momentum in the last…
Crypto markets have been on a tear, with the total market cap now standing at $2.11 trillion. Big gains in Bitcoin and Ethereum have driven the surge. Despite the market’s choppiness and large price fluctuations, it continues to exhibit resilience. Strangely enough, after a lackluster week, Bitcoin has had quite a rebound, returning 4.50% over the last…
Hong Kong High Court mandates HK$6 billion DAO project to disclose financial records, setting a legal precedent. Legislator Johnny Ng urges the government to boost investor confidence with a regulatory framework for DAOs. This initiative aims to transform Hong Kong into a leading global hub for decentralized Web3 technologies. Hong Kong is poised to take…
The average cost to mine one Bitcoin has increased to $51,887 as per BitFuFu’s Q2 report. The price of BTC is facing a tough time breaching above the $60,000 mark amid high volatility. An unaudited report detailing the financial and operational performance of BitFuFu, a cloud mining firm affiliated to Bitmain, was published for the…
Based on Polymarket odds, Robert F. Kennedy Jr., a 2024 independent presidential candidate, has a 81% probability of exiting the race after his running mate, Nicole Shanahan, hinted that their campaign might align with former President Donald Trump. On Tuesday, the odds of Kennedy withdrawing peaked to it’s highest point yet. RFK Jr.’s Campaign Faces…
🚀 Stay Ahead with AltcoinDaily.co! 🌐 Recent on-chain data from Glassnode shows a remarkable tendency in the present Bitcoin market: about three-quarters of all circulating Bitcoin has stayed unaltered for more than six months. This information shows the increasing predominance of long-term holders, who seem to be using Bitcoin more as a store of wealth…
Mango Markets DAO unanimously votes for SEC settlement proposal. Settlement addresses alleged securities violations without admitting fault. DAO proposes $223,228 fine and cessation of MNGO token operations in the U.S. Mango Markets, a decentralized exchange (DEX) previously thriving on the Solana blockchain, is now navigating a critical juncture amidst intense regulatory scrutiny. The DAO’s response…
Although there were initial withdrawals in early August, the demand for US spot Bitcoin exchange-traded funds (ETFs) has continued, resulting in a total weekly net inflow of $32.58 million on August 16th. The net outflow of spot Bitcoin ETFs decreased from $80.69 million on August 2 to $169 million on August 9. Although the Grayscale…
In the latest edition of the Capriole Investments newsletter dated August 20, 2024, Charles Edwards, founder and CEO, draws striking parallels between the current market behavior of Bitcoin and the historical performance of Gold, particularly during its 2008 rally. Bitcoin Mirrors 2008 Gold Rush Edwards points out that Bitcoin has been consolidating around $60K, echoing…
Yuval Noah Harari addresses Bitcoin as an art form contrary to his previous skeptical arguments on BTC. The author projects an optimistic future of AI, as it is creative and imaginative. Harari states that AI could invent creative financial devices that humans could not even think of. Yuval Noah Harari, an Israeli medievalist, military historian,…
Bitcoin (BTC) has undergone substantial growth in the last two years, with its value increasing by over 300% since early 2023. In the year 2024, there was a significant increase of 40%, resulting in the attainment of new record levels. Nevertheless, current advancements indicate that the positive trajectory of Bitcoin may encounter obstacles in the…
Metaplanet’s stock price surged more than 13% and finished Tuesday at 10.87%. The company’s Bitcoin holdings have now reached 360.368 BTC. As part of its most recent Bitcoin investment strategy, the publicly traded Japanese company Metaplanet has acquired bitcoins valued at 500 million Japanese yen. In the wake of chief executive officer Simon Gerovich’s announcement…
Corn, an Ethereum Layer-2 network that uses hybrid tokenized Bitcoin (BTC) as gas and offers Super Yield to its users, has launched after securing $6.7 million in seed funding led by Polychain Capital, according to an Aug. 20 statement shared with CryptoSlate. The seed round also included notable corporate and individual investors, including Binance Labs,…
SHIB and PEPE face declining investor interest as whale activity drops, raising uncertainty in their market prospects. Analyst notes SHIB might see a short-term boost, but diminishing whale activity clouds its long-term outlook. PEPE’s breakout chances fade as investor enthusiasm drops, with active addresses hitting a six-month low. SHIB and PEPE, leading meme coins in…
Bitwise CIO Matt Hougan highlighted a notable increase in institutional investments in Bitcoin exchange-traded funds (ETFs) during the second quarter despite BTC value declining 12% over the three months. Hougan highlighted the increased interest in his latest Aug. 20 note to investors, where he stated: “Bitcoin’s price fell 12% in Q2 2024 and many wondered if…
On August 20, 2024, during the Asian trading hours, the overall cryptocurrency market was experiencing impressive upside momentum. However, following the opening of the US stock market, the market began experiencing selling pressure as the S&P 500 and Dow Jones fell significantly. Potential Reason for Market Fall Apart from the S&P 500 and Dow Jones,…
Bitcoin is showing a new short-term bullish signal, as evidenced by a short squeeze and extremely negative funding rates. According to analyst Josh of Crypto World, as of now, bullish move appears to be unfolding. He said that not much has changed over the last day. Bitcoin’s price remains between support at just above $53,000…
🚀 Stay Ahead with AltcoinDaily.co! 🌐 Italian bank Banca Sella is set to make waves in the financial and cryptocurrency markets by introducing Bitcoin (BTC) trading services to its mobile banking customers. Leveraging its popular Hype mobile banking platform, which boasts over 1.2 million users, the bank plans to offer a seamless and secure way…
The latest 1B USDT minting on Tron boosts Tether’s annual issuance to $33B, solidifying its market dominance. Consecutive mintings on Tron and Ethereum demonstrate Tether’s strategy for stable USDT circulation. Market stability may be influenced by Tether’s strategic USDT issuance, aligning with cryptocurrency trends. Tether, the largest issuer of stablecoins, has minted another 1 billion…
Bitcoin failed to regain its $60,000 price tag on Sunday, despite a day prior, as investors drove broader market indices back to record highs. The world’s largest crypto by market capitalization rose to just above $60,330 on Saturday but has since fallen 1.7% to around $58,646, according to CoinMarketCap data. Despite the indecision in crypto,…
Bitcoin surpasses $60K, driving market gains and boosting dominance to 53.33%. Top gainers include Sundog (+111.86%) and Voxies (+78.81%), signaling strong investor interest. BNB and DOGE also rose notably by 6.14% and 4.67% respectively, reflecting robust market activity. Bitcoin has surged past the $60,000 mark, signaling renewed bullish sentiment in the cryptocurrency market as highlighted…