Following a heinous jobs report, questions are arising about whether the United States will experience a soft landing or if a full-fledged recession is on the horizon. All five major U.S. stock market indices saw notable declines on Friday, and the crypto economy fell by 5.82% to reach $2.2 trillion. Crypto Economy and U.S. Stocks …
Monthly archives: August 2024
Paypal Launches Global Hackathon With 40,000 PYUSD in Prizes
Paypal, a leading payment platform, has announced a global hackathon for its stablecoin PYUSD, offering 40,000 PYUSD in prizes. This initiative follows the launch of the Paypal stablecoin on Solana. Running from Aug. 12 to Sept. 16, the hackathon aims to foster innovation and the adoption of PYUSD on Solana. Paypal Announces Global PYUSD Hackathon …
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JPMorgan Chase Abruptly Raises Forecast for Imminent Fed Rate Cuts As Recession Fears Accelerate: Report
JPMorgan Chase is reportedly changing its forecast for incoming rate cuts from the Federal Reserve as fears that the US is heading toward a recession grip global markets. A series of weaker-than-expected reports on the US economy, including a bleak jobs report, triggered a stock market retreat on Friday. Amid growing fears that the US …
Oracle Network Chainlink Witnesses More Recent Development Activity Than Any Other ERC-20 Project: Santiment
The decentralized oracle network Chainlink (LINK) continues to lead all ERC-20 projects in terms of recent development activity, according to the crypto analytics firm Santiment. Santiment notes that Chainlink registered 401.53 notable GitHub events in the past 30 days. The oracle project also topped the list in June, clocking in 560.6 notable events over a …
Crypto Analyst Warns That Bitcoin Could Crash To $42,000 If This Happens
In a recent price analysis, a crypto analyst has highlighted a crucial support level for Bitcoin (BTC), emphasizing the possibility for the pioneer cryptocurrency to plummet significantly to new lows if it fails to maintain certain key levels. Bitcoin Risks Crash To $42,000 On August 1, the pseudonymous crypto analyst DonAlt shared an in-depth price …
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‘Not All Hope Is Lost’: Crypto Analyst Weighs In On The Market’s Performance
As the crypto market faces another drop, a pessimistic sentiment surged again. Some investors seem to fear that altcoins won’t take off this cycle and that they have lost their chance of profiting from the bull run. However, renowned analyst Altcoin Sherpa weighed in on the matter, suggesting that the market is set up to …
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ARB Market Plummets 14%, But New Developments Could Reverse The Trend
Arbitrum resumes its drive downward along with the broader market downturn investors are experiencing today. According to the latest market data, ARB is down nearly 14% since last week, putting more pressure on the bulls to slow the bearish tide. However, there are several developments on the platform that might affect investor perception in the …
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Fox’s Tucker Carlson Drops Bombshell: Did The CIA Create Bitcoin?
The real identity of Satoshi Nakamoto, the creator of Bitcoin, has remained a mystery despite Bitcoin being a decade and a half old. It has become the best kept secret in crypto, leading to various theories of who the creator might be. Many theories have pointed to prominent figures, with software developer Craig Wright claiming …
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Research Firm Predicts Bullish Bitcoin Breakout For Q4: 4 Key Reasons
Matrixport, a digital asset financial services group born from Bitmain, an industry leader in Bitcoin mining, projects a bullish breakout for Bitcoin in the upcoming fourth quarter of 2024. In their latest research report titled “Matrix on Target: Bullish Prospects for Bitcoin in Q4,” the firm provides four reasons to be bullish in the upcoming …
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‘Comrades in Crime’ – New Research Shows Russian-Speaking Actors Account for Most Ransomware Crypto Attacks
New research from TRM Labs shows that Russian-speaking actors play the largest role in most crypto-related cybercrimes. According to a TRM Report, the crypto-enabled cybercrimes include darknet drug sales, illicit crypto exchange activity, and ransomware schemes. “Ransomware: Russian-speaking ransomware groups accounted for at least 69% of all crypto proceeds from ransomware in 2023, exceeding USD …
JPMorgan Chase and Wells Fargo Reimburse 4% or Less of All Scams Reported by Customers on Billion-Dollar Payments Network: Report
JPMorgan Chase and Wells Fargo are refusing to reimburse the vast majority of customers who send their money to scammers, according to a new report. New numbers from the US Senate’s Permanent Subcommittee on Investigations show Chase reimbursed 2% of scams reported on the instant payments network Zelle in 2023. That compares to 4% at …
Bitcoin whale volume from exchanges hits 9-year high as analysts call BTC price bottom
The last time Bitcoin whales moved this many coins from exchanges was when the BTC price was around $220 in 2015.
Kamala Harris must outline crypto strategy to counter Trump’s pro-Bitcoin influence, think tank says
Vice President Kamala Harris faces increasing pressure to clarify her stance on crypto as the 2024 election approaches or risk “ceding” the industry’s support to former President Donald Trump, according to a new think tank report. The report, published by the Official Monetary and Financial Institutions Forum (OMFIF), emphasized that Harris must engage with the …
Bitcoin’s price evolution post-halving: Examining five distinct epochs
Onchain Highlights DEFINITION: Bitcoin price performance since the halving against previous cycles. Bitcoin’s price performance since the most recent halving in April has followed a distinct trajectory compared to previous halving events. Observing the historical price patterns, each halving epoch demonstrates unique price movements, reflecting varying market dynamics and investor sentiments. The first halving epoch (50 …
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Trump touts Bitcoin’s potential to ‘wipe out’ US national debt, says its ‘a very big thing’
Former President Donald Trump has suggested that Bitcoin could be a key tool in addressing the United States’ burgeoning national debt, which has officially hit $35 trillion as of July 31. In an interview on Fox News on Aug. 2, Trump proposed an unconventional approach, hinting at the possibility of utilizing the flagship crypto to …