In recent times, there has been a noticeable shift in the Layer 2 network sector, with Base, an Ethereum Layer 2 network incubated by Coinbase, making significant strides. According to data from IntoTheBlock, Base currently has nearly 40% more daily active addresses than the combined total of competing Layer 2 networks like Arbitrum and Optimism.
Crypto
Bitcoin experienced a significant drop recently, falling from $59,600 to $56,300. However, the bulls quickly intervened and prevented further downward momentum. The cryptocurrency then entered a period of consolidation, hovering around $60,000 over the weekend. This stability was short-lived, as bitcoin underwent another retracement, dropping to $58,000 at the start of the week. Despite this
The recent analysis by technical analyst Willy Woo highlighted some important trends in the Bitcoin market. He pointed out that a significant amount of Bitcoin had been moved from exchanges due to selling by governments and distributions from Mt. Gox, leading to a bearish trend. The influx of paper Bitcoin through derivatives like futures and
The recent choppy consolidation in the price of Bitcoin has left many in the market feeling uncertain. Despite this, a group of Bitcoin holders known as whales, particularly those holding between 100 and 1,000 BTC, have been steadily increasing their holdings. According to Santiment, these whales have accumulated an additional 94.7K BTC over the past
A new malicious browser extension known as the “Bull Checker” has recently emerged, targeting Solana users on Reddit. This extension, disguised as a meme coin tracker, has managed to evade detection systems and drain users’ wallets, causing significant financial losses. The Uncovering of Bull Checker In a recent incident, Jupiter’s pseudonymous founder, Meow, reported that
The United States spot Bitcoin exchange-traded fund (ETF) market experienced a decline in daily trading volume, with only $779.87 million recorded on Monday. This drop in trading volume marks the third lowest level, following the records set on February 5th and 6th. According to SOFA.org’s Head of Insights, Augustine Fan, the low trading volume is
Tokyo’s Metaplanet investment firm recently announced that it has purchased an additional 57.273 BTC, worth approximately 500 million yen or $3.4 million. This move comes amidst a current market lull, with the firm aiming to position itself for long-term growth. The strategic acquisition is part of a larger plan that was revealed on August 8,
In a recent turn of events, the meme coin sector has witnessed a significant surge, pushing its market capitalization above the $40 billion mark. This rally was led by various cat-themed meme coins, such as Popcat (POPCAT), Mog Coin (MOG), and Cat in a Dogs World (MEW). These assets have seen impressive gains, with POPCAT
The Democratic National Committee recently released its 2024 Party Platform, outlining their priorities for the upcoming election. Surprisingly, the platform did not mention anything about Bitcoin, cryptocurrency, or blockchain. Instead, it focused on issues like affordable housing and climate change. One of the key points was the proposal to tax investment income at the same
Hut 8 Corp. recently announced its financial results for the second quarter of 2024, revealing a net loss of $71.9 million despite a significant increase in revenue. The company reported a 72% year-over-year revenue growth to $35.2 million, driven by its expansion in both energy and Bitcoin mining operations. However, the company also reported a