Category: Crypto
The Unraveling of a Convicted UK Hacker: Linking Gurvinder Bhangu to Recent Solana Scams
The recent uncovering of evidence by on-chain investigator ZachXBT has shed light on the involvement of convicted UK hacker Gurvinder Bhangu in the high-profile compromises of American actress Sydney Sweeney’s and ‘Breaking Bad’ actor Bob Odenkirk’s X accounts. These incidents resulted in over $530,000 being stolen through Solana meme coin scams, marking a significant breach…
The Impact of Economic Uncertainty on the Crypto Market
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…
Analysis of Bitfarms’ Operational Growth in Bitcoin Mining
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 Rise of Cryptocurrency Trading in Hong Kong
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 Plans to Raise $2 Billion through Sale of Class A Shares
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…
The Rise and Fall of XRP: Analyzing the Recent Price Drop
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…
The State of Cryptocurrency Market This Week
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 Resurgence of DeFi Sector in 2023: Analyzing the Key Metrics
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…
The State of Ethereum ETFs: Analyzing Recent Outflows and Inflows
The recent trend in Ethereum ETFs in the US has seen a mix of net outflows and inflows, with outflows totaling $77.21 million on Wednesday. This comes as Ether’s price struggles below $3,200. The Grayscale Ethereum Trust (ETHE) experienced significant net outflows of $133.33 million on July 31st, leading to a total loss of almost…
The Shifting Landscape of Crypto Investments: A Bold Call to Rethink Bitcoin’s Potential
After the conclusion of the Bitcoin2024 conference, Bitwise CIO Matt Hougan made a significant call to all crypto investors, urging them to reconsider the potential upside of Bitcoin. In his view, the current market sentiment is “not bullish enough” towards the flagship cryptocurrency, despite recent developments signaling a shift that could have a substantial impact…
The Decline of Meme Coins in the Crypto Market
The first two quarters of 2024 saw a surge in popularity for meme coins, but recent data indicates a significant cooling off in their market. While a handful of lesser-known meme coins have experienced gains over the past 30 days, the more popular ones like Dogecoin (DOGE) and Shiba Inu (SHIB) have struggled to maintain…
The Rise of XRP: A Closer Look at Recent Developments
Recently, XRP has experienced a significant increase in price, climbing to $0.66 from $0.60 in just 24 hours. This surge comes at a time when the XRP ecosystem is experiencing important developments, leading to renewed optimism among investors. One notable trend is the growing number of wallets holding at least 10,000 XRP, reaching a six-month…
The Latest Trends in Cryptocurrency Markets
The cryptocurrency market has seen a surge in volatility recently, leading to fluctuations in investor sentiment. Bitcoin, for example, experienced a sharp drop from nearly $70,000 to below $66,000 in just a day, currently trading at around $66,300. This sudden correction was further amplified by the news of the US government transferring $2 billion worth…
The Integration of Chainlink Proof of Reserve by 21Shares
21Shares, a part of 21Shares AG, recently announced the integration of Chainlink Proof of Reserve on the Ethereum mainnet. This integration aims to improve the transparency of the Ethereum reserves that back the 21Shares Core Ethereum ETF (CETH). The ETF, which is physically backed by Ether, tracks its performance and provides investors with a more…
