In simple terms, the cryptocurrency market, primarily driven by Bitcoin (BTC) and Ethereum (ETH), followed the downward trend of major stock markets in Europe, Asia, and the US in the last 24 hours. Approximately $300 million was wiped out from the crypto derivatives market, mostly affecting long-term investors. The prices of Bitcoin and Ethereum also … Read more
Paul Grewal, the top lawyer at Coinbase exchange, has publicly expressed his backing for Tornado Cash, a cryptocurrency mixing service. Tornado Cash is currently embroiled in a prolonged legal dispute with US authorities over accusations of money laundering. In a recent post on platform X, Grewal shared Tornado Cash’s stance regarding the US Treasury Department, … Read more
In a well-known market for its volatile price movements, Bitcoin Depot has demonstrated remarkable resilience, proving its distinct business strategy. This disclosure comes after the prominent US crypto ATM operator reported in an SEC filing that their revenue has remained steady even with Bitcoin’s value fluctuations. Based on the SEC report, Bitcoin Depot generated approximately … Read more
OKX, a well-known cryptocurrency exchange, has followed in the footsteps of Coinbase and entered the sphere of Decentralized Finance (DeFi) by formally introducing their layer-2 blockchain project, named X Layer, within the Ethereum network. Launched on testnet in November 2023, this network aims to offer reduced transaction costs and tackle interoperability issues among layer-1 blockchains. … Read more
Samson Mow, a well-known advocate for Bitcoin (BTC), has shared some possible explanations for the recent drop in cryptocurrency prices. Over the past weekend, Mow shared on the X platform that many investors decreased their cryptocurrency holdings out of worry for potential conflict in the Middle East. Notably, among all assets, Bitcoin was the one … Read more
Ethereum, the second largest cryptocurrency with a significant market value, has experienced rough seas recently. Over the past few days, Ethereum’s price has significantly dropped to around $2,800 on April 12, mirroring the market slump affecting the entire crypto sector. Despite the unpredictability, something intriguing has occurred: Large-scale Ethereum investors, known as “whales,” are making … Read more
Beyond serving as mere value repositories, the Bitcoin blockchain system is experiencing growing interest due to Decentralized Finance (DeFi) and Non-Fungible Token (NFT) transactions occurring within it. Notably, investment firm Franklin Templeton posits that the introduction of Runes, a fresh fungible token standard for Bitcoin, could significantly transform the ecosystem. According to Franklin, Runes could … Read more
Binance announced the introduction of three new US Dollar Coin (USDC) margined perpetual contracts for traders: Arbitrum (ARB), Neo (NEO), and Filecoin (FIL). By using USDC as collateral, traders can gain leveraged access to these cryptocurrencies, with a maximum leverage of 75 times their initial investment. Gradual Launch Process and Leverage Information Beginning on April … Read more
The price of Bored Ape Yacht Club (BAYC) NFTs has reached a historic low, with the minimum price dropping to around 10.9 ETH ($34,000) on Monday. This is a significant decrease from the floor price in early August 2021, which was at 9.5 ETH. Since then, the price hasn’t been this low. BAYC: A Grace … Read more
Investors prepare for a bumpy journey with Bitcoin, the leading digital currency, as it sails through rough seas. Notably, information from Glassnode indicates that the Balance between Bitcoin’s Realized Profits and Losses has dropped below par. The ratio of Bitcoin’s current selling price to the price at which it was purchased is showing that investors … Read more