The cryptocurrency market is currently experiencing a turbulent period, characterized by a significant pullback. This cycle has been heavily influenced by the mania surrounding meme coins and the hype surrounding spot Bitcoin ETFs. Economist and trader, Alex Krüger, recently shared his observations on this unusual market cycle, highlighting the dominance of meme coins and the
Crypto
The meme coin sector has been experiencing substantial losses recently, with their combined market capitalization dropping below the $50 billion mark. Among the meme coins facing a significant decline is Dogecoin (DOGE), which has seen a 15% weekly price drop. However, there are indications that these meme coins may be on the verge of a
In recent weeks, the cryptocurrency sector has experienced a significant correction, with the global market capitalization dropping to around $2.2 billion. Bitcoin’s price has also taken a hit, falling below $57,000 for the first time since late February. Popular altcoins like Solana, Dogecoin, and Shiba Inu have seen double-digit declines on a daily basis. Despite
The cryptocurrency market has been experiencing dire conditions in the past few days, with Bitcoin plummeting to a multi-month low of around $57,000. The downward trend started when Bitcoin attempted to break above $65,000 but failed to sustain its momentum. This led to a series of price drops, with the primary cryptocurrency hitting a two-month
Ripple made waves on April 30 with the announcement of a strategic partnership with HashKey Group, a move that solidified its ongoing collaboration with financial powerhouse SBI Group. This partnership, centered around HashKey DX, a specialized consulting company based in Tokyo, is set to revolutionize the Japanese market by introducing XRP Ledger (XRPL) enterprise solutions.
A recent griefing attack on the Bitcoin testnet caused a significant surge in network activity, resulting in the generation of an unprecedented number of blocks in a very short period of time. The attack, attributed to Jameson Lopp, co-founder and Chief Security Officer of Casa, drew mixed reactions from the Bitcoin community. Lopp described the
Bitcoin has experienced a significant drop of more than 15% from its mid-March peak, reaching a ten-day low of under $62,000 on Monday morning. Analysts have noted that the halving is over, but bitcoin continues to display red candles, indicating a period of correction. The current sentiment is a mix of uncertainty and pessimism, with
Following the recent halving event, Bitcoin saw a dip in price to $62,500, causing concerns among traders. However, experts believe that financial institutions’ increasing involvement in the cryptocurrency market and historical trends indicate a potential rally in the near future. Despite the current downtrend, there is optimism surrounding Bitcoin’s future price movement. Shiba Inu, a
The recent CryptoQuant report exposed a significant drop in the percentage of Bitcoin miner revenue derived from transaction fees. Initially surging to 75% on the day of the last halving event, transaction fees now only make up 35% of total miner revenue. This decline is a cause for concern, especially considering the impact of the
Upbit, a cryptocurrency platform based in South Korea, has established itself as a dominant player in the country’s crypto market. With over 80% of the country’s trading activity, Upbit has emerged as one of the top five exchanges globally in terms of trading volume. However, the platform’s dominance has raised concerns and criticism, especially as
Institutional investors in Canada have significantly increased their exposure to cryptocurrency over the past year. A recent survey conducted by accounting firm KPMG revealed that 39% of institutional investors reported having direct or indirect exposure to crypto assets in 2023, which is a notable increase from 31% in the firm’s 2021 study. This demonstrates a
The meme coin sector has been experiencing significant growth during the latest bull cycle, evidenced by its market capitalization briefly exceeding $60 billion. This surge can be attributed to popular assets like Dogecoin (DOGE) and Shiba Inu (SHIB) leading the way, along with newer tokens such as dogwifhat (WIF), Bonk Inu (BONK), and Pepe (PEPE)
Recently, the Bitcoin network achieved a remarkable milestone as its daily transactions peaked at 927,000, exceeding the previous record of 724,000 set in December 2023. This surge in transaction volume can be attributed to the introduction of Runes, a new token standard on the Bitcoin blockchain. The increased activity indicates a growing interest and utility
The recent sentencing of Jabara Igbara, popularly known as “Jay Mazini,” to seven years in prison by U.S. District Judge Frederic Block has shed light on the dark underbelly of social media influencers. Igbara, who flaunted his wealth and success as a crypto millionaire on Instagram, has been exposed as a fraudster who scammed investors
