Month: February 2024

Bitmain-backed Bitcoin mining firm BitFuFu eyes going public via SPAC deal

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Crypto mining company BitFuFu plans to go public on the Nasdaq stock exchange via a SPAC deal with Arisz Acquisition Corp. According to documents filed with the U.S. Securities and Exchange Commission (SEC), BitFuFu plans to go public under the ticker symbol “FUFU” once the merger with Arisz Acquisition Corp is finalized. The merger is anticipated to receive approval from Arisz’s board by Feb. 24, the document reads. Following the merger, BitFuFu will issue a total of 150,000,000 ordinary shares to Arisz shareholders at $10 per share. According to the…

Bitcoin Nears $45,000 Level In Historic Price Surge Following Spot ETF Debut

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Bitcoin (BTC) shook off recent bearish whispers and roared back to life on Wednesday, clawing its way past $44,000 and marking a four-week high as the top crypto asset approaches the vaunted $45K level. This bullish charge was fueled by a potent cocktail of factors, from resurgent accumulation by major investors to record highs in US equity markets and a surprise regulatory shift from Thailand. Bitcoin Surges Amid Whale Activity The day began with Bitcoin hovering around $42,700, but it quickly gained momentum, reaching a peak of $44,300 – its…

Solana Price Bounces Back With Network Restart In Full Swing

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Solana, the ambitious blockchain ecosystem, showcased its resilience in the face of adversity, experiencing a significant network outage that temporarily impacted its cryptocurrency value. The recent dip in SOL’s price, dropping to $93.36 during the outage, highlighted a challenging moment for the blockchain platform. However, the subsequent rapid recovery, with SOL currently trading at $101.80, reflects the network’s ability to bounce back, marking a notable 6.6% increase in the past 24 hours. Source: Coingecko Solana: Price Stagnation, Surge, Outage Recovery Amidst weeks of relative price stagnation, where SOL fluctuated between…

SOL Price Breaks $100 – Why Solana Could Pump Another 10%

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Solana is gaining bullish momentum above $100. SOL price is signaling a fresh increase and might rally further toward the $112 level. SOL price started a fresh increase from the $93.20 support against the US Dollar. The price is now trading above $98 and the 100 simple moving average (4 hours). There was a break above a major bearish trend line with resistance at $96 on the 4-hour chart of the SOL/USD pair (data source from Kraken). The pair could continue to rally if it clears the $102.50 and $105.00…

Ethereum Price Jumps To $2,450 as Bulls Take Over Crypto Market

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Ethereum price gained traction and climbed above $2,400. ETH is now showing bullish signs and might extend gains toward the $2,550 level. Ethereum is gaining bullish momentum above the $2,380 zone. The price is trading above $2,350 and the 100-hourly Simple Moving Average. There is a key bullish trend line forming with support at $2,400 on the hourly chart of ETH/USD (data feed via Kraken). The pair might correct lower, but the bulls could be active near the $2,400 support zone. Ethereum Price Gains Strength Ethereum price remained strong above…

BTC To Reach $1 Million Amid Banking Turmoil

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Arthur Hayes, co-founder of BitMEX and a well-known figure in the crypto community, has made headlines with a bold prediction for Bitcoin (BTC). Hayes, recognized for his unique views of the crypto space, shared his thoughts on Bitcoin’s potential trajectory in light of the current financial challenges the New York Community Bank (NYCB) faces. NYCB, grappling with significant financial troubles, was reported by Bloomberg as having its credit rating downgraded to “junk” by Moody’s. Hayes interprets the bank’s struggle and the broader banking sector’s difficulties as indicators of systemic issues…

What It Means For Price Recovery

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Data shows the Bitcoin Coinbase Premium Gap is currently negative. Here’s what this could mean for the asset’s recent attempt at recovery. Bitcoin Coinbase Premium Gap Has Been Deep Red Recently An analyst in a CryptoQuant Quicktake post pointed out that the Coinbase Premium Gap has been negative recently. The “Coinbase Premium Gap” here refers to an indicator that tracks the difference between the Bitcoin prices listed on cryptocurrency exchanges Coinbase (USD pair) and Binance (USDT pair). When the value of this metric is positive, it means that the price…

Bitcoin Price Surges Past Resistance, Is This The Start of Fresh Uptrend?

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Bitcoin price is gaining pace above the $44,000 resistance. BTC could rise further if it clears the $44,800 resistance zone in the near term. Bitcoin price was able to surpass the $43,400 and $43,500 resistance levels. The price is trading above $44,000 and the 100 hourly Simple moving average. There was a break above a major rising channel with resistance at $43,650 on the hourly chart of the BTC/USD pair (data feed from Kraken). The pair could continue to move up if it clears the $44,800 resistance zone. Bitcoin Price…

Kaspa (KAS) To Hit $3 In Explosive Bull Run, Expert Predicts 2650% Surge

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In the dynamic landscape of the cryptocurrency market, Kaspa (KAS) has emerged as a strong contender in the altcoin race, demonstrating notable growth and breaking through the $0.1109 barrier in the past 24 hours, representing a 10.5% increase in this time frame. Interestingly, the bullish momentum for KAS might be far from over as potential catalysts loom on the horizon. These catalysts could propel the token to new all-time highs, surpassing its previous peak of $0.1527. KAS Targets $2-$3 In Next Bull Run In a recent post on X (formerly…

2023 Crypto investors realized below $1k on average

An average crypto investor experienced a gain of $887.60 in 2023, as reported by CoinLedger, a leading crypto tax software platform. The higher profits contrast sharply from 2022, a year of significant losses exceeding $7,000 per investor, following the collapse of key crypto firms and a pervasive bear market. “It’s clear that the cryptocurrency market is growing once again. After the collapse of FTX, the cryptocurrency ecosystem saw a freefall in asset prices,” said CoinLedger CEO David Kemmerer in a press release. “This latest rebound highlights the growth of the…