Data suggests that newer investors are behind Bitcoin’s sell-off, but sell-side exhaustion will eventually mark BTC’s price bottom.
Monthly archives: April 2024
US Court to hear proposed remedies from Terraform Labs, Do Kwon in May
The SEC proposed that Do Kwon and Terraform pay roughly $5.3 billion in disgorgement, prejudgment interest and civil penalties, while the firm’s team suggested only $1 million.
Chainlink (LINK) Flashing Potential Rally Signal, According to Crypto Analyst – Here’s His Target
Cryptocurrency analyst and trader Ali Martinez is saying that blockchain oracle Chainlink (LINK) possesses upside potential based on the readings of one indicator. Martinez tells his 60,600 followers on the social media platform X that the Tom DeMark (TD) Sequential indicator is “flashing” a bullish signal for LINK on the 12-hour chart. The TD Sequential …
Abra CEO Predicts Crypto Markets Go to $50 Trillion Market Cap Once Real World Assets Become Tokenized
Abra cofounder and CEO Bill Barhydt is predicting a $50 trillion digital asset market capitalization within a decade due to one main catalyst. In a new interview with Anthony Pompliano, the head of the crypto wealth management platform says that the tokenization of real-world assets (RWAs) has the potential to send the crypto market cap …
DOJ Opposes Tornado Cash Developer’s Motion To Dismiss, Says Defendant Exercising Misdirection
The U.S. Department of Justice (DOJ) is pushing back against a Tornado Cash founder’s efforts to have his charges dismissed. Tornado Cash is an Ethereum (ETH)-based coin mixing system that helps users conceal their digital assets. The US sanctioned the controversial project 2022 for national security purposes. One of its founders, Roman Storm, was arrested …
Coinbase Integrates Support for Bitcoin Payments Platform Lightning Network
The leading US-based crypto exchange by trading volume is adding support for Bitcoin (BTC) payments platform Lightning Network. In a new announcement, Coinbase says it is giving users a choice in how to send BTC payments by integrating the Lightning Network. “Starting today, Coinbase is rolling out support for the Lightning Network enabling instant, low-cost Bitcoin transfers. Users will have the …
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Russian Authorities Introduce New Restrictions on Cryptocurrency To Prevent Ruble From Being Replaced: Report
Russia reportedly plans to institute a wide-ranging crypto ban in September. Anatoly Aksakov, chairman of the State Duma Committee on the Financial Market, says the country plans to prohibit “organizing the circulation of cryptocurrencies,” according to the National News Service, a Russian media agency. “We are talking about a ban on transactions with Bitcoin and …
Phase Two Decentralized Sequencer Upgrade – Metis Unlocks Two-Second Confirmation and Sequencer Mining
The TVL (total value locked) in layer-two rollups crossed $34 billion in under five years – they emerged as one of the most technically promising and economically viable blockchain scaling solutions. So much so that Vitalik envisioned a rollup-centric future for Ethereum. But rollups couldn’t effectively solve the ‘scalability trilemma’ without getting rid of centralized …
Bitcoin retraces back to critical monthly all-time high support level from 2021
Bitcoin will close April down this evening following a drawdown of roughly 15% since the start of the month. The close of the monthly candle will mark the end of seven successive green candles and the end of a record-making streak. Bitcoin monthly candles since 2013 (TradingView) Bitcoin opened the month with a new all-time …
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15% decline in MSTR share price amid non-adoption of new FASB Bitcoin standards
Quick Take MicroStrategy, the business intelligence firm, has further solidified its position as a Bitcoin corporate treasury, holding approximately 1% of the total Bitcoin supply. During the first quarter of 2024, MicroStrategy acquired an additional $1.65 billion worth of Bitcoin, bringing its total holdings to a staggering 214,400 BTC. While there was speculation that MicroStrategy …
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US Bitcoin ETFs record fourth consecutive trading day of outflows
Quick Take According to the latest data from Farside Investors, April 29 saw an outflow of $51.6 million from US Bitcoin ETFs, marking the fourth consecutive trading day of outflows. While this figure does not represent the lowest outflow during this period, it highlights the prevailing market sentiment. BTC ETF Flow Table: (Source: Farside Investors) …
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Monero hits eight-year low against Bitcoin as regulatory pressures mount
Monero’s XMR token has fallen to its lowest point against Bitcoin in the last eight years amid regulatory pressure on privacy-focused blockchain networks. According to CoinMarketCap data, the XMR-BTC chart reached as low as 0.001954 BTC today, down 50% on the year-to-date metric. Moreover, the digital asset’s US dollar value has also been struggling, falling …
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Ripple teams up with HashKey DX on blockchain-based supply chain finance in Japan
Crypto firm Ripple is expanding its XRP Ledger (XRPL) enterprise solutions to Japan through a strategic collaboration with HashKey DX, the Tokyo-based specialized consulting company of the HashKey Group, according to an April 30 statement. In this partnership, HashKey DX will work alongside Ripple and SBI Ripple Asia—a collaboration between SBI Holdings and Ripple—to develop …
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Cross-chain universal app states could reduce EVM development by 90% – Skate CEO
Siddharth Lalwani is on a mission to redefine the blockchain ecosystem with Skate, a universal application layer integrated with EigenLayer that enables apps to run seamlessly across thousands of chains with a single, unified state. As the Co-Founder and CEO of Range Protocol, the company behind Skate, Siddharth brings deep expertise in web3 infrastructure and …
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Hong Kong’s Bitcoin and Ethereum ETFs launch with lower than expected trading volumes
Hong Kong’s debut of Bitcoin and Ethereum exchange-traded funds (ETFs) commenced with modest trading volumes, tallying up to 87.58 million HKD, equivalent to $11.19 million, based on Hong Kong Stock Exchange data. This trading volume falls significantly short of the issuers’ initial expectations, which anticipated volumes surpassing $100 million. Moreover, the trading volume pales compared …