Bitcoin traders expect BTC to rally if the Fed rolls out a 0.50% rate cut, but hedging these bullish positions is also necessary. Here is how it’s done.
Monthly archives: August 2024
Woman Deposits $6,000 Into Scammer’s JPMorgan Chase Account, Banking Giant Says Reimbursement Not Happening: Report
JPMorgan Chase says it’s not responsible after an Ohio woman deposited $6,000 directly into a scammer’s Chase bank account. The scammer initially called the victim and pretended to be with Huntington Bank, convincing her that a fraudulent transaction would execute if she didn’t withdraw the cash from her account, reports the CBS-affiliated Cleveland 19 News, …
Cardano’s Long-Awaited Chang Hard Fork Upgrade Scheduled for September 1st
A date has been set for the Cardano (ADA) blockchain to go ahead with its long-awaited Chang hard fork. In a post on the social media platform X, the Cardano Community says that the Chang upgrade will move forward on September 1st. The blockchain’s community leaders, the Cardano Foundation, development firm Input Output Global and …
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Analyst Michaël van de Poppe Says Ethereum Is Flashing a Bullish Signal Against Bitcoin – Here Are His Targets
A widely followed crypto analyst says the following few days can either confirm or deny a reversal for Ethereum (ETH) as it trades against Bitcoin (ETH/BTC). Crypto trader Michaël van de Poppe tells his 723,500 followers on the social media platform X that certain signs point to a bullish ETH divergence. “These are great signs …
Total Stablecoin Market Cap Rises for 11th Consecutive Month Amid PayPal USD Growth: CCData
The total market capitalization of stablecoins has been increasing for nearly a year now, according to blockchain analytics firm CCData. In a new report, CCData says the total market cap of stablecoins rose by $169 billion in August, up by 2.89% from last month. The increase marks the 11th time in a row that the …
Donald Trump Tees Up Rollout of New Plan He Says Will Ensure the US Becomes the ‘Crypto Capital of the Planet’
Former President Donald Trump has teased the rollout of a new plan that he says will ensure American dominance in the crypto sector. In a video posted to his X account on Thursday morning, Trump promised to release the plan later in the day. “This afternoon, I’m laying out my plan to ensure that the …
Justin Sun Presents Keynote Speech at WebX 2024, TRON DAO Featured as Title Sponsor
PRESS RELEASE. Geneva, Switzerland, August 30, 2024 – WebX 2024, a global Web3 conference organized by CoinPost, welcomed TRON DAO as a Title Sponsor and welcomed its visionary founder, Justin Sun, as a keynote speaker. Additionally, TRON DAO played a key role as a Platinum Sponsor at OKJ Night and a sponsor at the WebX …
Nigerian SEC approves local crypto exchanges in push for digital asset regulation
The Nigerian Securities and Exchange Commission (SEC) has granted two local crypto exchanges— Busha Digital Limited and Quidax— “Approval-in-Principle” to begin operations under the Accelerated Regulatory Incubation Program (ARIP), according to an Aug. 29 statement. ARIP was specifically designed to onboard operational firms before the May 2022 release of the Rules on Virtual Asset Service Providers. …
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Texas sees a 31% rise in Bitcoin mining energy use paired with an 80% drop in electricity prices
Quick Take One of the most persistent misconceptions about Bitcoin is the belief that mining harms the environment. While it’s true that Bitcoin mining requires substantial energy, this energy consumption is crucial for maintaining the network’s security. Recent data from Pierre Rochard, VP of Research at Riot Platforms, provides valuable insights into the evolving landscape …
USDC crosses $16 trillion in volume, driven by Solana’s market share
Circle’s USD Coin (USDC) stablecoin has crossed the $16 trillion mark in total cumulative volume. While this number falls short of traditional financial powerhouses like Visa, which processed over $12 trillion in payments just last year, it highlights the remarkable growth of stablecoins. Despite their relatively short existence, stablecoins have quickly established themselves as key …
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Solo Bitcoin miner earns $200,000 reward amid growing centralization concerns
A solo Bitcoin miner has independently solved a BTC block to earn a reward of 3.275 BTC, roughly equivalent to $200,000. On Aug. 29, Con Kolivas, a software engineer and administrator of the solo mining pool ckpool, announced on X that the miner had successfully solved the 291st solo block in Bitcoin’s history. He congratulated …
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Bitcoin Slides Below $58K as Market Plunge Wipes Out $178M
After lingering around the $59,000 mark, bitcoin’s value has faced downward pressure, dipping to an intraday low of $57,775 on Friday. Over the past 24 hours, bitcoin (BTC) has slipped by 4.6%, while ether (ETH) saw a 5.4% decline. Friday Crypto Slide: Bitcoin Falls, Ether Sinks, and Liquidations Jump The crypto market is in the …
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Trump Maintains Slight Advantage in Election Odds on Polymarket After Harris Interview
After a 40-day interview hiatus, Vice President Kamala Harris has finally given her first Q&A session since President Joe Biden announced he won’t seek re-election in 2024. According to Polymarket’s election betting odds, former President Donald Trump is currently edging ahead, leading by a modest 1 percentage point. At the moment, Trump holds a 50% …
Paul Krugman Blasts Crypto Industry’s ‘Huge’ Campaign Donations
In a recent New York Times opinion piece, Nobel laureate Paul Krugman criticized the cryptocurrency industry’s significant influence in campaign finance, likening it to the tale of the emperor’s new clothes. Krugman argued that cryptocurrencies have limited legitimate uses and are often associated with criminal activities. He highlighted the industry’s massive political spending, which accounts …
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Is This the Most Promising Crypto to Invest In? Crypto All-Stars Races Towards $1M
Meme coins come and go, but every so often, one catches the market’s attention in a big way. Crypto All-Stars (STARS) is the latest to go viral, with its presale nearing the $1 million milestone. But is it the most promising crypto to invest in this year? MemeVault – The One-Stop-Shop for Meme Coin Staking …