Ferrari, the iconic Italian luxury sports car manufacturer, has recently announced its ambitious plans to expand its cryptocurrency payment system to its network of European dealers starting from the end of July. By the end of 2024, Ferrari aims to further extend its crypto transaction options to additional countries in its global dealership network where
Crypto
After the SEC’s approval, the spot Ethereum ETFs officially launched, with initial results that were quite underwhelming. Comparisons were made to the spot Bitcoin ETF launch earlier in the year, noting that while the Ethereum ETFs had a solid first day with over $106 million in net flows, the following days showed a different trend.
The cryptocurrency industry in 2024 has been a rollercoaster ride, especially for Ethereum and its exchange-traded funds (ETFs). While there have been moments of validation and success, there have also been setbacks and challenges that have left investors and analysts scratching their heads. Earlier this year, the US Securities and Exchange Commission gave the green
In a recent BTC Conference in the United States, Jan van Eck, the CEO of VanEck, shed light on some of the most remarkable qualities of Bitcoin. He expressed his confidence in the cryptocurrency by revealing that more than 30% of his own portfolio is allocated to Bitcoin. This comes as no surprise, considering VanEck’s
In a recent interview, Kennedy proposed an interesting idea – the federal government should buy Bitcoin until its holdings match the value of the nation’s gold reserves. This would mean acquiring roughly 9.4 million BTC, which is almost 45% of the total supply. The rationale behind this proposal is that Bitcoin is seen as an
In the world of cryptocurrency, Ethereum has recently seen a significant event with the launch of several Ethereum ETFs. However, the price of Ethereum did not react as expected to this historic event, dropping by over 10%. This unexpected price movement turned the ETF launch into a sell-the-news moment for investors. The support level at
The upcoming Bitcoin options contracts expiry on July 26 is anticipated to be significant, with around 61,200 contracts valued at $4.26 billion. This particular expiry event is larger than usual due to being at the end of the month. Despite the recent launch of spot Ethereum ETFs in the United States, the spot markets have
A remarkable event unfolded on July 24 when a Bitcoin mining device, known as “Bitaxe,” with a hashrate of only 500 gigahashes per second (Gh/s) successfully mined a block, reaping a whopping reward of $206,000 in Bitcoin. This accomplishment is truly extraordinary considering that the device has a mere 1 in 1.1 billion chance of
The second day of trading for the spot Ethereum ETFs saw a significant shift in investor sentiment, with over $133 million being withdrawn from the largest financial vehicles. This sudden outflow had a direct impact on the price of the underlying asset, causing a massive 10% drop in just one day. The initial excitement surrounding
The developers at BitcoinOS (BOS) recently achieved a groundbreaking milestone in blockchain history by successfully verifying the first-ever zero-knowledge proof (ZKP) on the Bitcoin mainchain. This achievement paves the way for a new era of possibilities, offering unlimited scalability and functionality for Bitcoin without the need for changes to its underlying consensus code. The final
Recently, Senator Cynthia Lummis released a report that raised concerns regarding the Biden administration’s proposed 30% excise tax on the energy consumed by Bitcoin miners. She argued that this tax could have severe consequences for the growing Bitcoin mining industry in the United States. Lummis criticized the administration’s reasoning behind the tax, describing it as
In the beginning of July, Mt. Gox, the now-defunct cryptocurrency exchange, began the process of repaying creditors who were affected by the infamous 2014 hacking incident. This move was long-awaited by those who had lost their funds in the hack, and it sparked a mix of curiosity and concern among the crypto community. Market Stability
Ethereum’s price has been consolidating above the 100 and 200-day moving averages, indicating a bullish trend. The breakout above the critical 100-day moving average at $3,354 led to a period of sideways fluctuation, with the price lacking clear direction. This phase confirms the breakout and suggests an equilibrium between buyers and sellers in the market.
Shiba Inu (SHIB) has recently experienced a significant drop of 13% in the past week, leading many analysts to speculate on its future performance. The popular meme coin has been struggling, with its price plummeting according to CoinGecko’s data. Some industry experts have warned that this downward trend could continue in the short term, posing
