The cryptocurrency market recently experienced a correction, with Bitcoin (BTC) being one of the most impacted digital assets. BTC’s price fell by about 6% over a seven-day period, currently trading around $65,400 according to CoinGecko’s data. One possible reason for BTC’s increased volatility and declining value could be profit-taking by long-term holders. Reports have shown
Crypto
The recent report from Glassnode on April 2 indicated that long-term holders of Bitcoin have begun distributing their holdings and selling to new investors at higher prices. This activity has resulted in an injection of new capital into the asset class, leading to a rise in the realized cap. The realized cap, which measures cumulative
March proved to be an incredibly profitable month for the Bitcoin mining industry, with miners collectively raking in over $2 billion for securing the leading cryptocurrency network. Data from Blockchain.com revealed that miners averaged $65.23 million per day over the course of the month, setting a new record. This figure far surpassed the previous two
In March 2024, the blockchain security firm PeckShield released a report that highlighted a troubling trend in the crypto space. Despite an overall improvement in investor sentiment, the report revealed that there were over 30 incidents of crypto hacks during the month, resulting in approximately $187.29 million in losses. This surge in hacks has raised
Argentina recently introduced new regulations aimed at the country’s cryptocurrency sector, requiring all local crypto firms to register with the regulatory body or face potential shutdown. This move comes after the senate passed legislation approving the Registry of Virtual Asset Service Providers in alignment with the Financial Action Task Force’s recommendations. The goal behind these
Bitwise Asset Management, a prominent provider of cryptocurrency index funds, is advocating for the U.S. Securities and Exchange Commission (SEC) to postpone the approval of a spot Ethereum Exchange-Traded Fund (ETF) until December. This strategic move aims to shift the industry’s focus from Bitcoin-related products to highlight the potential and significance of Ethereum in the
Shiba Inu (SHIB) witnessed a remarkable surge in token burns during the month of March, with billions of tokens being removed from circulation. The burning mechanism, aimed at reducing the circulating supply of SHIB, resulted in over 15.5 billion assets being destroyed. The most significant spike in burning activity occurred on March 8, when almost
With the booming crypto market, there has been a sharp increase in crypto crimes targeting individuals, particularly the elderly. Fraudsters are preying on vulnerable seniors, convincing them to invest their funds in cryptocurrencies under false promises of high returns. This has led authorities to ramp up their efforts to crack down on such scams. Two
Recently, the US Treasury’s Office of Foreign Assets Control (OFAC) and the UK’s Office of Foreign Sanctions Implementation (OFSI) have taken significant steps to crack down on entities linked to terrorism financing through cryptocurrency. This crackdown comes in the wake of the October 7th attacks on Israel, with two individuals and three entities facing fresh
The Financial Conduct Authority (FCA) in the United Kingdom recently announced its plan to address meme-based marketing for financial products. The FCA issued guidelines for financial services firms and social media influencers to ensure transparency and prevent misleading promotions in the industry. The move comes after the regulator’s crackdown on illegal financial promotions, signaling a