In the recent trading week, Bitcoin saw a significant increase in its price, reaching its highest price tag in nearly a month at over $67,000. The cryptocurrency had retracted to just over $60,000 but managed to defend that support level over the weekend. On Monday, Bitcoin started climbing again, surpassing $63,000. Despite a brief retracement
Crypto
The recent crackdown by Chinese police forces on a large underground banking operation has shed light on the illicit use of the popular stablecoin Tether (USDT) in facilitating transfers totaling up to 13.8 billion yuan ($1.9 billion). The operation, headed by a criminal gang linked to the Chinese import and export business, used USDT to
One of the key factors that could potentially lead to Dogecoin overtaking Ripple’s market cap is the powerful influence of Elon Musk. With his massive credibility and publicity, Musk has been a vocal supporter of Dogecoin, which has significantly boosted its popularity and value. On the other hand, Ripple lacks a similar high-profile champion, which
The intersection of artificial intelligence (AI) and cryptocurrency has been gaining momentum in recent months. The advancement of AI technology, coupled with the growing popularity of cryptocurrencies, has ushered in a new era of innovation and potential growth. OpenAI, a prominent AI research organization, recently unveiled its latest ChatGPT model, equipped with enhanced voice recognition
The recent surge in the Donald Trump-themed meme coin, Doland Tremp (TREMP), has gained attention following positive news about the billionaire’s presidential campaign. Trump, who previously criticized cryptocurrencies like Bitcoin, has softened his stance on digital assets and described himself as the candidate for pro-crypto voters. This shift in attitude has contributed to TREMP reaching
More than 19 months after Ethereum’s historic Merge upgrade, it is evident that the network’s native asset, Ether (ETH), is struggling to keep up with Bitcoin (BTC). The ETH/BTC price ratio hit a three-year low on Thursday at 0.044, marking a decrease in Ether’s market dominance against Bitcoin compared to May of 2021. This trend
Despite previous patterns in Bitcoin’s price movements, the current market conditions indicate a lack of significant upward or downward movement. This is an anomaly compared to previous cycles where substantial growth was fueled by increases in global money supply. The absence of a similar pattern in the current cycle suggests a different dynamic at play.
Recently, Hong Kong’s spot Bitcoin and Ethereum ETFs experienced a significant outflow of $39.3 million, marking the highest total outflow since their launch on May 2. This outflow primarily impacted funds from issuers Bosera, China Asset Management, and Harvest, with a collective loss of $32.7 million for Bitcoin funds and $6.6 million for Ethereum funds.
CoinGate, a well-known blockchain payment processor based in Lithuania, has recently announced its decision to add Shiba Inu as a payment method. By integrating SHIB with Polygon and Binance Smart Chain, CoinGate aims to provide businesses with an opportunity to buy, sell, manage, and accept cryptocurrencies seamlessly. This move not only expands the utility of
Bitcoin’s price has been struggling to maintain its bullish momentum after a significant drop from the $75K level. However, despite the bearish sentiment in the market, there are indications that a new wave of bullish movement may be on the horizon. Looking at the daily chart, it is clear that Bitcoin has been trading within