Solana (SOL) has recovered 30% of its price since the Black Monday crash, hovering between the $155-$140 range. Recent reports revealed the Solana-based investment products were among the largest losers last week after registering over $30 million in outflows. The token continued its sideways trajectory despite the negative net flows and memecoin’s trading activity decline…
August 20, 2024 at 03:40 PM GST updated: August 20, 2024 at 03:14 PM 2 mins read News Block trading activity surpassed $500 million today, indicating renewed institutional interest. Bitcoin options volume included 3,643 BTC in calls and 2,084 BTC in puts. Ethereum options saw 31,430 ETH in calls and 28,488 ETH in puts, showing…
An anonymous whale has been acquiring Wrapped Bitcoin (WBTC), collecting more than $118 million worth of WBTC within a brief period. The whale has accumulated a total of 1,953 WBTC, acquired at an average cost of $58,853 per coin. The last transaction involved the purchasing of 347 WBTC, which was valued at almost $16 million….
Bitcoin has been the leading cryptocurrency for quite some time. Now, it is making significant strides in the financial world alongside the Euro (EUR). This change could challenge the US Dollar’s dominance. As market dynamics shift, these currencies’ performances and their dance with the greenback are interesting. Let’s explore this further. Also Read: Tron Surges…
The recent controversy surrounding wrapped Bitcoin (wBTC) has raised concerns among the crypto community, particularly in the Ethereum DeFi sector. MakerDAO halted lending and borrowing of wBTC following BitGo’s partnership with Justin Sun and Tron. The controversy began when BitGo disclosed its plan to share custody of wBTC with BiT Global, a company tied to…
Zach Pandl, Grayscale Investments’ managing director, has boldly predicted that the price of Bitcoin will surge regardless of who wins in the upcoming US presidential election. He said this potential increase is because of macroeconomic trends, most especially pertaining to the assumed depreciation of the US dollar. Related Reading According to Pandl, the fact that…
Justin Sun moved 2,590 Bitcoin ($156 million) after BitGo changed its WBTC custody arrangements. BitGo is shifting WBTC custody to a new joint venture with BiT Global, linked to Justin Sun. Recent significant Bitcoin (BTC) and Wrapped Bitcoin (WBTC) transactions have drawn attention to an address suspected to be connected to Justin Sun’s team. The…
Bitcoin price surpassed the $60K level yet again in the last 24 hours. The cryptocurrency’s daily trading volume surged 48.31% according to CMC data. The cryptocurrency sector has fallen short of analysts’ predictions since July. Market analysts expected the H1 bullish momentum to sustain in the second half and propel prices further. However, the crypto…
The Bank of Ghana has released draft regulations aimed at creating a framework for the cryptocurrency industry. The rules are designed to protect consumers, prevent financial crimes, and encourage financial inclusion. Virtual asset service providers (VASPs) will be required to register and meet strict standards, while commercial banks are prohibited from dealing directly with virtual…
Babylon, the self-custodial Bitcoin staking protocol, will launch its mainnet on August 22, 2024. The launch brings a “third native use-case of Bitcoin” to users, adding staking to its store of value and payment, Fisher Yu, co-founder of Babylon, said. Babylon, a self-custodial Bitcoin staking protocol, has announced the launch of its phase-1 mainnet as…
The company’s quarterly revenue came in at $35.6M, just shy of the predicted $35.4M. TeraWulf’s $0.03 per share loss was worse than the $0.02 per share loss estimation. The results of TeraWulf’s second quarter, which were announced in August, were not entirely satisfactory. Revenue was up somewhat from the projected statistics. Even though the company’s…
Revenue increased for the Bitcoin miner by 72% year-over-year to $35.2 million. Hut 8’s adjusted EBITDA for the quarter came to a negative $57.5 million. Prominent Bitcoin miner in North America, Hut 8 Corp. (HUT), released its Q2 financial results for the period ending June 30, 2024. A net loss of $71.9 million was recorded…
Bitcoin (BTC) is undoubtedly the king of the cryptocurrency world. The price upticks noted in BTC can usher in life-changing transformations for other altcoins, which set their tone and pace in sync with Bitcoin’s price movements for bullish outcomes. However, Bitcoin’s success story is not for the faint-hearted. In its earlier stages of trading, the…
Market News The wider community also looks to Powell’s statement for hints about the future policy. The Jackson Hole retreat will be graced by the presence of Jerome Powell on Friday. This coming week, the crypto market will be watching for important events like the July FOMC Minutes and the Jackson Hole Retreat address by…
MakerDAO, the decentralized autonomous organization behind the DeFi protocol Maker, has approved a proposal to halt new borrowing against BitGo’s wrapped Bitcoin (WBTC). On Aug. 15, MakerDAO revealed that it was reducing the debt ceiling for all WBTC vaults to zero. This move effectively prevents any new borrowing from these vaults and lowers WBTC’s loan-to-value…
Roman Sterlingov is facing a potential 30-year prison sentence for BTC Fog’s money laundering charges. Sterlingov’s lawyers argue that the recommended sentence is excessive compared to similar cases. Roman Sterlingov, the founder of Bitcoin Fog, a cryptocurrency mixer is challenging a potential 30-year prison sentence. It was followed by his conviction on multiple money laundering…
Bitcoin price is struggling at $60K resistance, up by 1.42% in the last 24 hours. BTC has recorded a 24-hour liquidation of $27.97 million. Despite recent recovery efforts, the largest cryptocurrency, Bitcoin (BTC), seemingly extends losses in the market. Over the past 24 hours, the asset has struggled to clear the $60K level, and a…
Investment advisors increased their Spot BTC ETF holdings by 3% to 9% in Q2 2024. Hedge fund investments in BTC ETFs declined as funds shifted to BTC futures. Despite the dip in BTC price, the ETFs saw $2.4 billion in net inflows from institutional investors. Investment advisors have significantly increased their holdings in Spot Bitcoin…
MicroStrategy ETF MSTX has seen a sharp increase in trading volumes. South Korea’s recent investment in Microstrategy stocks reflects a strong demand for the company’s shares. MicroStrategy ETF, MSTX, has recently experienced a significant increase in trading volumes. It is driven by the increased volatility in the cryptocurrency and tech markets. Known for its heavy…
Historical net outflows from GBTC amount to $19.6 billion, as per the statistics. With a current total net asset value of $54.35 billion, spot Bitcoin ETFs have been on a positive note. Despite withdrawals in early August, demand in spot Bitcoin exchange-traded funds (ETFs) based in the US has persisted. Despite outflows in prior weeks,…