Month: February 2024

XRP, SOL Among Coins With Red Sentiment, Time To Buy Against Crowd?

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Data shows various cryptocurrencies like XRP and Solana are currently witnessing bearish majority sentiment on social media platforms. XRP, SOL, And Other Assets Are Sharing A Red Mentality Currently According to data from the analytics firm Santiment, a notable bearish sentiment has emerged among cryptocurrency traders during the past week. The relevant indicator is the “Weighted Sentiment,” based on two other metrics: the Sentiment Balance and Social Volume. The Sentiment Balance keeps track of the net sentiment present among users on the major social media platforms. The metric calculates this…

Can We All Stop Pretending That Solana Is in Beta?

“Engineers from across the ecosystem are investigating an outage on mainnet-beta,” the Solana team’s incident report read. While it is true that Solana has never officially announced that it was leaving the beta testing phase, a period meant to help identify bugs and evaluate performance in real-world conditions, at this point the phrase seems increasingly like a cop out. Solana is a fully functional blockchain with a large and committed user base. It is the fifth-largest “DeFi chain” by total value locked, representing about $1.7 billion in capital committed to…

Bitcoin (BTC) Price Under Pressure as Miners Increase Crypto Selling Ahead of Bitcoin Halving

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The increased selling happens as the next Bitcoin halving, a quadrennial event when the reward to miners for securing the Bitcoin blockchain is cut by half, is due in April. The halving will have an immense impact on miners’ profitability, potentially pushing smaller, less efficient operations out of business or being forced to merge with larger companies to survive, the report explained. Original

Is cryptocurrency a good investment in 2024?

Get answers to your crypto investment questions. Learn about trends, promising coins, market risks, and whether investing in cryptocurrency is wise in 2024. Despite a buoyant surge in Dec. 2023, leading to an over 16% increase in the total crypto market cap to reach $1.66 trillion as of Feb. 6, we still find ourselves in the shadow of the highs of 2021. Total crypto market cap from Dec. 23 till Feb. 6 | Source: CoinMarketCap Amid this, 2024 started off with good news, Bitcoin (BTC), finally received a nod with…

Massive $29.3 Million Whale Transfer Threatens XRP Price With More Sell Pressure

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The XRP price has yet to recover from the latest exploit, which resulted in Ripple’s co-founder Chris Larsen being hacked and 213 million XRP worth $120 million carted away. This seems to have further spooked a depleting whale account base, as on-chain data points to XRP whales already exiting their positions in the past few weeks.  Particularly, on-chain data from whale transaction tracker WhaleAlerts points to a recent transaction of 29 million XRP tokens transferred from an unknown wallet to the crypto exchange Bitstamp. Massive XRP Whale Transfer To Crypto…

What’s Going On With LINK?

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A mysterious whale is rapidly accumulating Chainlink (LINK). According to Lookonchain, the unknown entity, possibly an institution, withdrew over 2.2 million LINK (worth $42.38 million) via 47 new wallets from Binance, the world’s largest crypto exchange by trading volume, in two days. This sudden block withdrawal now raises questions about what’s driving the whale’s interest and what it could mean for LINK in the coming days. Crypto whale accumulating LINK | Source: Lookonchain via X Chainlink Is Key In DeFi And NFTs, Gradually Improving  Chainlink is a popular project that provides secure…

Europe leads Ethereum ETF market with $4.6b AUM

While U.S. regulators deliberate on spot Ethereum ETFs, Europe and Canada already boast billions in spot and futures ETH-related products.  Per a Coingecko study, Europe dominates the global Ethereum (ETH) ETF scene with an 81.4% market share. The area has 13 ETH-backed ETFs split across spot products and futures funds, amounting to $4.6 billion in assets under management (AUM). Canada is also a big market for ETH ETFs and commands a 16.6% market share of $949 million in AUM. ETFs have also become a gateway into crypto for many Canadian…

What MiCA Really Means for Stablecoins in Europe

Currently, three European companies — Monerium, Membrane and Quantoz Payments — are issuing on-chain fiat stablecoins under the electronic money directive, following a regulation-first approach. Other issuers, including Circle, are in the process of applying for an EMI license that would bring them into compliance. Source

CleanSpark jumps on plans to buy 4 bitcoin mining facilities

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An array of bitcoin mining units inside a container at a CleanSpark facility in College Park, Georgia, on April 22, 2022. Elijah Nouvelage | Bloomberg | Getty Images Bitcoin miner CleanSpark climbed on Tuesday after the company said it will acquire new mining facilities that will give it the power and infrastructure to potentially double its hashrate within the first half of the year. CleanSpark shares were last higher by nearly 9%. At one point, the stock rose as high as 10.8%, also helped by a midday rise in the…