The cryptocurrency market experienced a tumultuous Monday, marked by extreme volatility that saw Bitcoin plummet to a new monthly low of $64,000. Altcoins also faced significant fluctuations, with many suffering massive declines. This sudden downturn resulted in over 190,000 traders being liquidated within a single day. Market Behavior and Price Movements Over the weekend, Bitcoin
Crypto
Shibarium, the layer-2 scaling solution for Shiba Inu, has experienced a surge in interest recently, with the number of new accounts on the network skyrocketing by over 860%. This increase could signal growing interest in the protocol and a more active community. However, not all metrics are heading in a positive direction. Daily transactions on
Liquid staking and the concept of liquid restaking have been gaining significant traction in the cryptocurrency space over the past year. Lista DAO is at the forefront of this movement, introducing an open-source liquidity protocol that allows users to earn yield on collateralized cryptocurrencies like BNB, ETH, certain stablecoins, and other assets. Additionally, Lista DAO
The recent Consensus conference held in Austin brought together industry leaders to discuss the future of blockchain technology, regulation, and the growing field of artificial intelligence (AI). Among the key predictions made at the event was the projection that the combined forces of the cryptocurrency industry and AI could inject a staggering $20 trillion into
The recent report by Coinbase sheds light on the worrisome trend of declining crypto talent in the United States. The largest US exchange pointed out the urgent need for regulatory clarity in the crypto industry to retain talent within the country. According to the report, there has been a significant decrease in the number of
Bitcoin recently experienced a dip to a monthly low of $65,000 on June 14, signaling a 5% decrease from the previous week. Despite this short-term volatility, when taking a step back and looking at the bigger picture, it becomes apparent that the cryptocurrency has been consolidating since early March. Analyst James Check noted that Bitcoin’s
The latest updates in the conflict between Nigeria and Binance have seen the country dropping tax charges against the exchange’s executives. The Federal Inland Revenue Service (FIRS) of Nigeria withdrew the tax evasion charges against Tigran Gambaryan, Binance’s head of financial crime compliance, and Nadeem Anjarwalla, the exchange’s director for Africa operations. These charges were
Recently, Bitcoin (BTC) has experienced a substantial 4.5% decline in value over the past week, hitting a monthly low of $65,000. This significant drop in the price of the digital asset has been attributed to an upsurge in selling activities among mining entities. According to the latest CryptoQuant weekly report, the number of BTC sent
Ripple has recently announced its plans to launch a stablecoin named Ripple USD (RLUSD) in 2024, with the coin being available on the XRP Ledger and Ethereum. This move by Ripple is seen as an attempt to bridge the gap between traditional finance and the crypto industry. However, the launch of RLUSD has already faced
In the month of May, KuCoin exchange’s research arm released a report highlighting the performance of cryptocurrencies. The report stated that there was $1 billion in new investments, which was actually a slight decrease from the previous month of April. This decrease sheds light on the fluctuating nature of the cryptocurrency market and the uncertainty
The latest findings from blockchain intelligence firm TRM Labs have shed light on the significant rise in cryptocurrency deposits into crypto addresses associated with Chinese drug precursor manufacturers. The data revealed that in the first four months of 2024, the amount of cryptocurrency deposited more than doubled compared to the same period in 2023. This
Ethereum experienced a loss of 4.4% this week, losing its bullish momentum. The price was pushed down to the key support level at $3,500 by sellers. However, this pullback might just be a normal retest following the significant breakout after the ETF confirmation. As long as buyers can maintain the price above $3,500, there is
Bitcoin has been on a rollercoaster ride in terms of its price action, struggling to break past the all-time high of $73,000. Despite this, renowned brokerage firm Bernstein has maintained its optimism about the future trajectory of the digital asset. In their latest report, analysts at Bernstein have revised their long-term price forecast for Bitcoin
The recent price movements of Bitcoin have left investors on an emotional rollercoaster. Just yesterday, the leading cryptocurrency plunged to $65,000, marking its lowest point in a month. Despite a brief recovery, Bitcoin is still down by 1.5% for the day. The volatility in its price has resulted in over $200 million worth of liquidations
