Bitcoin has been experiencing stagnant trading over the past few months, lacking significant upward or downward movements. This is unusual compared to previous cycles where the cryptocurrency saw substantial growth during times of ample liquidity and high investor risk appetite. However, despite a slight rise in global liquidity benefiting Bitcoin, market expectations for interest rate
Crypto
On May 13, Hong Kong witnessed a substantial outflow of $39.3 million from its spot Bitcoin and Ethereum ETFs, marking the highest total outflow since their launch on the Hong Kong Stock Exchange earlier in the month. Notably, Spot Bitcoin funds from Bosera, China Asset Management, and Harvest collectively lost $32.7 million, while Ethereum funds
The popular blockchain payment processor, CoinGate, has recently added Shiba Inu as a payment method, further expanding its list of supported cryptocurrencies. This integration with Polygon and Binance Smart Chain has opened up new opportunities for businesses and users to engage with the meme coin. CoinGate, a renowned blockchain payment processor based in Lithuania, has
Bitcoin’s price has been struggling to regain its upward momentum after a sharp drop from the $75K level. Despite this, there are signs that a new bullish wave could be on the horizon. On the daily chart, BTC has been moving within a descending channel, forming lower highs and lows. While this may indicate a
In a recent earnings report, the popular millennial trading platform, Robinhood, exceeded analyst expectations with record revenues totaling $618 million in the first quarter, representing a 40% year-over-year increase. Notably, revenue from cryptocurrencies also saw a significant surge of 232% to $126 million. The firm attributed much of this growth to the increase in transaction-based
Polkadot has recently made significant strides in enhancing its network performance, particularly with regards to transaction processing speed and capacity. One of the major advancements is the implementation of Asynchronous Backing on the network, which has optimized how parachain blocks are validated by the Relay Chain. This improvement has resulted in blocks being produced twice
The recent abduction of a 55-year-old crypto investor in Hong Kong has raised concerns about the rising number of crypto-related crimes in the city. The victim was attacked by four men with a stun gun while riding in a car with her husband. The suspects, who are still at large, reportedly abducted the woman in
The upcoming U.S. presidential election in 2024 is set to be heavily influenced by the topic of cryptocurrency. A recent survey conducted by the Digital Currency Group (DCG) revealed that one in five registered voters consider crypto to be a significant issue in the election. Surprisingly, 40% of voters expressed a desire for candidates to
In the last 24 hours, the cryptocurrency market has shown signs of stabilization, pausing the recent bearish trend and entering a phase of consolidation. Bitcoin is currently hovering around the $61,000 mark, while Ethereum has dipped below the crucial $3,000 level. The sudden correction in Bitcoin’s price, dropping below $61,000 and witnessing a 3.5% decrease
Core Scientific, a key player in the Bitcoin mining industry, has recently unveiled their financial performance for the first quarter of 2024. This financial disclosure marks a significant turnaround for the company, which had previously faced bankruptcy. The most notable highlight of Core Scientific’s financial report is the substantial increase in net income, which soared
Despite a recent 20% weekly decline, analysts are predicting a significant rally for the Shiba Inu coin (SHIB) based on positive technical indicators. The coin has faced a sharp drop in price recently, losing 20% on a monthly scale and seeing its market capitalization fall below $13.5 billion. However, experts are not overly concerned about
Monero, a privacy-focused cryptocurrency, has been thrust into the spotlight recently following the closure of LocalMonero, a peer-to-peer exchange platform. This abrupt announcement has sparked a surge in discussions across social media platforms, with users expressing a mix of concern and curiosity about the future of Monero (XMR). LocalMonero attributed its closure to a combination
Digital asset investment products faced yet another week of outflows, amounting to a sizable $251 million. This marks the fourth consecutive week of outflows in the market. The most notable observation from the past week was the significant outflows from newly issued ETFs in the US, totaling $156 million. This was the first instance of
The launch of Bitcoin ETFs in Hong Kong faced its first hurdle on April 30, with the China Asset Management Bitcoin ETF experiencing its first cumulative daily outflows on Monday. Farside data revealed that the China AMC Bitcoin ETF saw an outflow of $4.9 million, while the other Hong Kong-based products remained steady with no