MarketsCryptocurrency markets have been trending sideways lately, but a new storm has appeared on the horizon. Not only are markets losing bullish momentum, they may face selling pressure in the coming weeks due to the unlocking of billions of dollars worth of assets and a significant Bitcoin distribution. This indicates that there may be a correction phase in the market for a while longer and this may cause the recovery to be delayed.
May 9, 2024MarketsBitcoin, the leading cryptocurrency by market cap, lost almost 15% in April, ending a seven-month uptrend.
May 9, 2024MarketsThe U.S. Attorney's Office for the Southern District of Florida announced Tuesday that Todd pleaded guilty to "willfully causing Digitex to violate" the Bank Secrecy Act. It is known that the authorities had previously charged the former CEO in February.
May 8, 2024MarketsAmid a broad decline across the cryptocurrency market, Bitcoin price fell towards $62,000 in the Asian and European morning sessions on Wednesday. This indicates the loss of some of the gains from last weekend's rally. At the time of writing, the Bitcoin price is around $62,200 and has lost almost 2.9% in the last 24 hours. CoinDesk 20 Index (CD20), which measures the performance of the entire digital asset market, experienced a deeper decline, losing 3.65% in value. Solana, one of the leading altcoins, was one of the most affected by this decline, falling by 6.5% to $ 146, while Ethereum lost approximately 3.63% and is traded around $ 3,000.
May 8, 2024MarketsAccording to a poll conducted in six “swing states” based in the United States, 70% of voters think the current financial system is “outdated” and agree it needs an update. However, most of these people think that cryptocurrencies are not a solution either. The research, conducted by the Digital Currency Group and the Harris Group, found that the majority of respondents think the current financial system supports elites over regular people. However, almost 75% think cryptocurrencies are no more fair than the current system. Only 41% of survey respondents agree that cryptocurrencies offer a new path to financial security and prosperity, while 35% believe cryptocurrencies are the future of trading.
May 8, 2024MarketsAs the Memecoin craze continues, investors are sailing into a new wave: Coins named after country names. The Olympic Games to be held in Paris in July lie behind this new trend. Investors believe that this enthusiastic event will increase the values of the country's tokens and create a significant profit opportunity.
May 8, 2024MarketsIn the cryptocurrency world, ProtonMail has risen like a fortress. This managed email service, known for its unwavering vows to protect user data, has begun to be questioned with the latest incident. A user turned over his information at the request of Spanish authorities, leading privacy advocates to claim that ProtonMail had breached its user privacy agreement.
May 8, 2024MarketsThe cryptocurrency market has faced increasing regulation and oversight in recent years. This creates significant pressure, especially for privacy-focused crypto assets and services. As a result of this pressure, LocalMonero, a major platform for the popular privacy coin Monero, decided to abruptly discontinue its services on May 7, 2024.
May 8, 2024MarketsEthereum price is down 1.85% in the last 24 hours, approaching the critical $3,010 support level. Behind this decline lies the increasing decline expectations of investors. Grayscale Investments' withdrawal of its Ethereum futures ETF application also fueled these concerns. CoinMarketCap data reveals that investors have intensively opened short positions in the last 24 hours. A short position is a bet that the price of the asset will fall. Traders use these positions to make profits when the price drops.
May 8, 2024MarketsThere has been an exciting development in the NFT space, transforming the ownership and trading of digital assets. Singapore-based Web3 platform Galaxis faced intense interest from investors before the token sale. Prominent names such as blockchain oracle network Chainlink, domain name service Ethereum Name Services (ENS) and venture capital firm Rarestone Capital announced a $10 million investment in Galaxis. Important names such as ENS co-founder Nick Johnson and Taisu Ventures also participated in the investment round.
May 7, 2024MarketsRecently, news has come to the fore in the field of Bitcoin mining that Bitmain is secretly trying to capture the majority of Bitcoin's hashing power. In response to this news, a public Bitcoin mining pool is offering an alternative to miners who want to run non-Bitmain hashes of their choice.
May 7, 2024MarketsFor the second time in the last week, the cryptocurrency market was shaken by liquidations on the Ethereum (ETH) front. ETH, which has surpassed Bitcoin (BTC), accounts for a significant portion of global cryptocurrency liquidations. This may signal that a correction is occurring in the market.
May 7, 2024MarketsWisdomTree, a provider of exchange-traded funds (ETFs) popular among global investors, is experiencing a turbulent period with its investment firm ETFS Capital. ETFS Capital is urging shareholders to vote against the re-election of certain board members, arguing that WisdomTree's current board and its strategic decisions have diminished the value of the company.
May 7, 2024MarketsLeading Austria-based cryptocurrency exchange Bitpanda is expanding its operations to the Middle East, making its first major move outside Europe. The company aims to enter this new market by opening a regional office in the United Arab Emirates.
May 7, 2024MarketsMemecoins have recently fallen behind Bitcoin and started to lose investor interest. This situation shows that, with the effect of Bitcoin's recovery after the halving event, the popularity of memecoins may decrease and the possibility of investors turning to Bitcoin may increase.
May 7, 2024MarketsCryptocurrency Ore, based on the Solana blockchain and using a proof-of-work mechanism, surprised the cryptocurrency community by winning the "First Prize" in a hackathon supported by the Solana Foundation, despite the project causing significant outages to the blockchain network in April.
May 7, 2024MarketsCrypto asset management giant Grayscale is reversing its four-month net outflow trend, signaling that investor interest in Bitcoin has been reignited. Investments in Grayscale Bitcoin Trust (GBTC) increased for two days in a row.
May 7, 2024MarketsBitcoin price continued its rise above the $64,000 resistance. BTC is currently maintaining gains above $62,800 and it might be aiming for more upside. Bitcoin reached a new weekly high of $65,500 before a downside correction occurred. The price is trading above $63,500 and the 100 hourly simple moving average.
May 7, 2024 