The recent economic uncertainty in the United States has had a significant impact on the cryptocurrency market, with Bitcoin experiencing a tumultuous journey in the past few days. The digital asset saw its price plummet to $60,500, marking its lowest point in nearly three weeks. This sudden drop was accompanied by a similar downturn in
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Bitfarms, a Toronto-based Bitcoin mining company, announced a remarkable increase in its operational hash rate by the end of July. The company reported a 109% year-over-year growth, reaching 11.1 EH/s. Additionally, there was a 7% rise in the hash rate from the previous month, with an average of 10.3 EH/s for July. Despite a slight
The question of who exactly Satoshi Nakamoto is has been a puzzle that has intrigued the crypto community for over a decade. Despite countless theories and speculation, the true identity of the creator of Bitcoin remains shrouded in mystery. While some have pointed fingers at prominent figures such as Elon Musk or Edward Snowden, others,
Futu Securities International, the largest online broker in Hong Kong, has recently ventured into retail cryptocurrency trading in the city-state. This move involves attractive incentives for investors, such as shares in Alibaba Group Holding and Nvidia. Residents of Hong Kong now have the opportunity to trade bitcoin and ether on the brokerage platform using either
MicroStrategy, the leading public Bitcoin holder, recently announced its intention to raise up to $2 billion by selling its class A shares. This move is part of the company’s strategy to acquire more Bitcoin and strengthen its position in the cryptocurrency market. The company made this announcement in a regulatory filing with the U.S. Securities
Cardano (ADA) is currently experiencing a surge in large transaction volume, similar to that of Ethereum. Data from the market intelligence platform IntoTheBlock reveals that Cardano recorded a significant transaction volume of $6.7 billion in the last 24 hours. This increase in transaction volume suggests that ADA whales have been actively accumulating tokens, especially during
Recent allegations have been made against cryptocurrency exchange Coinbase, suggesting that the company may have breached campaign finance laws. The accusations stem from a $25 million donation made by Coinbase to Fairshake, a crypto Super Political Action Committee (PAC). It has been claimed that this donation took place while the exchange was in negotiations for
The recent announcement by Bybit to end its operations in France due to regulatory issues has raised concerns within the crypto community. Bybit cited new regulatory developments from the French regulator as the reason behind this decision, hinting at potential licensing issues. This move has left many French crypto investors disappointed, as they will no
Cryptocurrency regulation has been a hot topic in the financial world, with many countries grappling with how to effectively oversee digital assets. Joey Garcia, the Director and Head of Regulatory Affairs at Xapo Bank, has been at the forefront of this evolution. In a recent interview with CryptoSlate Senior Analyst James Van Straten, Garcia shared
In a surprising turn of events, the Solana network has surpassed Ethereum in monthly decentralized exchange (DEX) volume in July. According to DefiLlama data, Solana’s DEX transactions reached $55.8 billion, outpacing Ethereum’s $53.8 billion for the same period. This marks Solana’s second-highest monthly volume, with its peak reaching $60.7 billion in March 2024. The surge
XRP, the native token of Ripple, recently experienced a significant drop in price, falling from $0.66 to around $0.56. This decline was accompanied by a bearish pattern that indicated a potential further downtrend in the future. Analysts have been closely monitoring the situation, with some expressing concerns about the future prospects of XRP. While some
As the world stock markets faced turmoil, the crypto market also experienced significant volatility. Ethereum, one of the leading cryptocurrencies, saw a 3% loss in value this week. Despite attempts by buyers to reclaim support at $3,300, it now serves as a key resistance level. With the current support shifted to $2,800, there is potential
The decentralized finance (DeFi) sector has been making a comeback, with significant growth seen in key metrics such as active loans and total value locked (TVL) from their lows in 2023. DeFi lending, a crucial aspect that allows investors to lend their cryptocurrency holdings for interest, plays a vital role in indicating DeFi participation and
Former US President Donald Trump has recently made a significant splash in the cryptocurrency world by endorsing Bitcoin. This move has not only brought him back into the limelight but has also stirred up a lot of attention within the crypto industry. With his eye on a potential return to the White House in 2024,