The cryptocurrency market experienced a turbulent week, with Bitcoin plummeting by $10,000 from Monday to Sunday morning. The week started on a positive note as Bitcoin’s price surged by $3,000 on Monday, reaching $70,000 for the first time since June. This increase was fueled by Donald Trump’s pro-crypto remarks at the 2024 BTC conference, where
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The recent price movement of Bitcoin has been nothing short of dire, as the leading cryptocurrency experienced a significant drop below $60,000 for the first time in weeks. Just a week ago, Bitcoin was riding high at $70,000 after a period of volatility following Donald Trump’s pro-crypto speech. However, the situation quickly changed with a
California’s Department of Motor Vehicles (DMV) has taken a significant step towards modernization by digitizing 42 million car titles using the Avalanche (AVAX) network. This initiative, in collaboration with software development firm Oxhead Alpha, aims to streamline the state’s title transfer process. By allowing users to claim their digital titles through a new application, the
Nader Al-Naji, the co-founder of the social media platform BitClout, has been charged by the US Securities and Exchange Commission (SEC) and the Department of Justice (DOJ) for his involvement in a fraudulent crypto asset scheme. According to the SEC’s complaint, Al-Naji raised over $257 million through unregistered offers and sales of BitClout’s native token,
In the world of cybercrime, recent events have shed light on the nefarious activities of convicted UK hacker Gurvinder Bhangu, also known as Gurv. His involvement in the compromises of American actress Sydney Sweeney’s and ‘Breaking Bad’ actor Bob Odenkirk’s X accounts has resulted in over $530,000 being stolen through Solana meme coin scams. On
After Bitcoin’s rally to the $69,000 range, there has been a notable recovery in the Bitcoin network hashrate. This recovery, as reported by CryptoQuant, has led to a decrease in the drawdown from its all-time high to just 3%, compared to 8% in July. The increased hashrate has also been accompanied by rising profitability for
Bitcoin’s price recently experienced a significant drop after breaking down the $64K support level. This has put the cryptocurrency in a crucial area that could determine its mid-term fate. The daily chart indicates a downward trend since forming a double top pattern at the $68K resistance level. The breakdown of the $64K level has led
The recent economic uncertainty in the United States has had a significant impact on the price of Bitcoin and altcoins. In the past day, Bitcoin’s price plummeted to $60,500, marking its lowest point in almost three weeks. Altcoins such as SOL, TON, and UNI have also experienced sharp declines, with losses exceeding 5%. Additionally, Ethereum
Toronto-based Bitcoin mining company Bitfarms has been making significant strides in increasing its operational hash rate. By the end of July, the company’s hash rate had reached an impressive 11.1 EH/s, representing a remarkable 109% year-over-year increase. This growth is even more striking when considering the 7% rise in hash rate on a month-over-month basis.
MicroStrategy, known for being the largest public Bitcoin holder, recently announced plans to raise up to $2 billion through the sale of its class A shares. This significant move demonstrates the company’s commitment to using stock sales as a means to finance its ongoing Bitcoin acquisitions. With a focus on “general corporate purposes, including the