The current state of the Bitcoin market suggests a lack of demand growth, which is a crucial factor in driving price recoveries and rallies. Historical data has shown that high Bitcoin demand often precedes significant price movements; however, the situation at present is quite different. Recent data from CryptoQuant indicates that Bitcoin demand has slowed
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Ripple recently announced its plans to introduce a stablecoin called Ripple USD (RLUSD) on the XRP Ledger and Ethereum. This move is aimed at bridging the gap between traditional finance and the world of cryptocurrencies. The stablecoin is expected to provide deep liquidity for major trading pairs on centralized exchanges, allowing users to transact globally
Binance, the world’s leading cryptocurrency exchange, has announced that it will temporarily suspend deposits and withdrawals for The Open Network (TON) on August 26. This maintenance activity is expected to last for about two hours, after which all services will be resumed. While this may cause inconvenience for users looking to transact with TON during
One crucial aspect to keep an eye on when it comes to Bitcoin’s price performance over the weekend is market volume and liquidity. Traditionally, weekends see lower trading volume compared to weekdays, which can lead to more significant price movements. With less liquidity in the market, it becomes easier for traders to influence price action
Former Binance CEO Changpeng ‘CZ’ Zhao has been transferred from FCI Lompoc II to the RRM Long Beach halfway house in California, sparking confusion among users who mistakenly believed he had been released. Despite the change in his location, CZ remains incarcerated. The RRM Long Beach facility, categorized as a ‘residential reentry management (RRM) field
Pi Network, a crypto project introduced in 2019, has gained attention for its unique approach to mining and earning digital assets on mobile devices. The project aims to be energy-efficient by utilizing the Stellar Consensus Protocol (SCP) developed by the Stellar Development Foundation. This sets it apart from traditional Proof-of-Work (PoW) systems that are known
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.
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