As the cryptocurrency market continues to see significant growth, Bitcoin has stood out as one of the top performers in the past seven days. Despite facing some volatility, Bitcoin managed to surge by 11% during this period, reaching impressive price levels. However, it struggled to break the $68K barrier and is currently undergoing a minor
Crypto
Bitcoin has the potential to reach a “mid-term” price level above $1 million, according to crypto investment firm Mechanism Capital. Despite facing poor market structure dynamics earlier this month, Bitcoin is currently showing strength beyond expectations. Andrew Kang, the company’s co-founder, highlighted the leading catalyst for this potential explosion in value – Bitcoin’s adoption as
Recent events in Hong Kong have shed light on the increasing trend of deception in crypto transactions. Three individuals were arrested by the Hong Kong police for defrauding a businessman out of HK$3.11 million in crypto assets by offering him counterfeit banknotes. This incident highlights the risks associated with crypto transactions and the need for
State Street Corp., a well-known player in traditional finance based in Boston, is delving into the world of blockchain technology by exploring the possibility of launching its own stablecoin and tokenized deposits. This move is aimed at improving payment settlements and enhancing overall efficiency within the financial industry. In addition to their stablecoin efforts, State
Kraken Institutional, the division of the US-based crypto exchange Kraken that caters to institutional investors, has recently announced the expansion of its custody services into the UK and Australia. This move signifies a significant step for Kraken Institutional as it marks the first international venture following its initial launch earlier this year. Institutional clients in
In recent days, the price of bitcoin (BTC) has seen a significant rally, indicating a possible trend reversal. The cryptocurrency has surged to a high of $67,000, a promising sign for investors. This comes after a period of intense losses in 2024, with holders experiencing significant downturns in their investments. Analysts at CryptoQuant have pointed
In the ever-evolving world of cryptocurrency, a new trend has emerged in 2024 – the rise of dog-themed meme coins. Dogecoin (DOGE) and Shiba Inu (SHIB) have become household names in the crypto space, with significant growth and market presence attracting the attention of investors and traders alike. One of the driving forces behind the
In June, trading volume on centralized exchanges saw a significant decrease of 21.8%, marking the third consecutive month of diminishing activity. This decline was attributed to several key factors highlighted in a report by CCData. One major factor was the notable decrease in open interest on derivatives exchanges, which fell by 9.67% to $47.11 billion
Ethereum saw a positive week with a 12% price increase. This impressive recovery came after the entire market rallied, allowing ETH to establish $3,300 as a key support level. Moving forward, buyers have set their sights on the $4,000 target, which also serves as a crucial resistance point. The last time ETH tested this level
Shiba Inu, the popular meme coin, has seen a significant increase in its burn rate recently. In the past 24 hours alone, the burn rate skyrocketed by 450%, resulting in nearly 50 million tokens being sent to a null address. While the USD equivalent of this may seem insignificant, continuous efforts in reducing the circulating