“High timeframe trend metrics remain firmly bullish, a near-term [bearish] reversal chart pattern has emerged. Although not classically meeting the textbook criteria of a head and shoulders, price action since March 19 has painted an extreme high with flanking lower highs,” Valkyrie’s analysts, led by chief investment officer Steven McClurg, wrote in a note to clients early this week. Original
Despite the raging impact of inflation in different economies, monetary authorities have not been sitting on their oars, rather, they have been fighting the surge through consistent interest rate hikes. The Hong Kong Initial Public Offering (IPO) market has failed to get lifted from its dampened sentiment after the listing of Chinese liquor company ZJLD Group failed relatively. As reported by CNBC, the shares of ZJLD Group tumbled as hard as 18% on its first day of trading back on April 27, showcasing how much lack of confidence exists in…
Block saw increased earnings on several fronts for Q1 2023 due to the success of its other businesses, including Cash App and Square. Block (NASDAQ: SQ) announced its Q1 2023 earnings report, which showed $2.16 billion in Bitcoin (BTC) revenue realized from its Cash App service. Block reported in a shareholder letter that BTC revenue grew 18% from $1.83 billion in the fourth quarter of 2022. In addition, the Jack Dorsey-founded multinational tech conglomerate also reported that its latest Bitcoin revenue haul was up 25% year-over-year (YoY). Block Highlights Q1 2023 Performance in Shareholder Letter For…
The news of the insider sale of the WallStreetBets (WSB) tokens led to a major frenzy with retail players dumping their tokens and its price tanking by nearly 90%. WallStreetBets (WSB) token, linked to the popular subreddit WallStreetBets, saw its token price plummeting by a staggering 90% in the past 24 hours. This happened as an insider closely connected with the project dumped a very large amount of WSB tokens. Just within three days, WSB’s market cap had jumped to more than $50 million. ZachXBT, a blockchain sleuth had warned…
press release PRESS RELEASE. As Bitcoin becomes an increasingly popular payment option, we can now use BTC for quick ordering and online shopping in many countries/regions. You can even buy a car with BTC in some places. None of this would be possible without Laszlo Hanyecz, a Bitcoin pioneer who bought two pizzas with 10,000 bitcoins 13 years ago. This is the first time Bitcoin has been priced. Since then, this crypto has been attached with genuine exchange value. Nearly 13 years have passed since that “pizza transaction”. To commemorate…
Bitcoin transaction fees saw a sharp surge in early May, reaching their highest point over the past two years, according to data from CryptoFees. On May 3, the total amount of fees paid on the Bitcoin blockchain reached an amount of $3.5 million, jumping about 400% from late April. The average Bitcoin transaction fee reached as much as $7.2, according to YCharts. The ongoing trading frenzy of memecoins like Pepe Coin (PEPE) has triggered an unwanted consequence for Bitcoin (BTC), driving its transaction costs to multi-year highs. Total Bitcoin transaction…
The daily median gas price, or transaction cost, hit a 12-month high of 87 gwei (one gwei is a billionth of an ether) early this week. The value has increased more than 50% since the launch of the PEPE token on April 18, according to pseudonymous analyst @hildobby’s Ethereum Gas tracker on Dune Analytics. At one point on Monday, the one-minute median gas price surged well past 150 gwei. Source 12MonthETHfeeFrenzyGripsHighMarketPepeSurgesTransaction CryptoX Portal
Apple iPhone sales surprised the Street. Despite the smartphone market shrinking by 15%, Apple managed to pull off strong sales numbers for iPhones. On Thursday, May 4, tech giant Apple Inc (NASDAQ: AAPL) reported earnings for the second-fiscal quarter (Q2 2023) beating Wall Street expectations. The tech giant managed to beat Street estimates with Apple CEO Tim Cook stating that the iPhone sales for the last quarter were “better than we expected”. However, the company reported a dip in overall sales for the second quarter in a row. During the…
In the United States, the White House released the national standards strategy for key and emerging technologies on May 4, identifying eight technology sectors that will have a significant economic impact in the near future. Among the eight technologies that focus on artificial intelligence, communication and network technologies, biotechnology, semiconductors and more, the listing of distributed ledger technology (DLT) and digital identity infrastructure grabbed the crypto community’s attention the most. DLT permits concurrent access, record validation, and record updating throughout a networked database. Blockchain technology is based on DLT, making…
Zimbabwe’s central bank has set a price for its gold-backed digital tokens. The country is planning to sell its gold-backed digital currency to investors starting May 8. The tokens will be sold at a minimum price of $10 for individuals and $5,000 for corporations and other entities. According to a statement released by the Reserve Bank of Zimbabwe on May 4, the gold-backed digital currency tokens will be sold in U.S. dollars and local currency. However, the local currency price will have a 20% margin above the willing-buyer willing-seller interbank mid-rate.…