During the widespread downturn in the cryptocurrency markets, publicly listed companies within the sector such as Coinbase, Microstrategy, and bitcoin mining enterprises have experienced notable declines in their stock values. Shares of Coinbase have fallen by over 21% since last month, and in the same period, Marathon Digital Holdings’ shares have dropped more than 28% […] Source CryptoX Portal
In the face of a general market decline and pessimism, Captain Faibik, a cryptocurrency expert and enthusiast, has emerged with an optimistic outlook for Bitcoin (BTC) foreseeable future trajectory, predicting that the crypto asset could rise to a new all-time high before this current month closes. Bitcoin To Reach New All-Time High In May Faibik’s analysis, which is based on his in-depth knowledge of cryptocurrency dynamics and a sharp eye for market trends, explores the possibility of a large short-term rise in Bitcoin. According to the analyst, Bitcoin is at…
The bank notes that headlines around the Hong Kong spot ETF launch were also poor, as attention was focussed on the turnover volume of $11 million “rather than the net asset position of the new ETFs which was pretty good.” Risk assets such as cryptocurrencies, which thrive on liquidity, are also facing increasing macro headwinds, the bank said. It noted that broader liquidity measures in the U.S have deteriorated sharply since mid-April. The bank advises buying bitcoin if it reaches the $50K-$52K range or if U.S. CPI on the 15th,…
The top US crypto exchange Coinbase has announced that a stablecoin pegged to the Canadian dollar could soon be trading on its platform. Announcing via the social media platform X, Coinbase says it’s adding QCAD to its listing roadmap, which alerts customers that the company could soon add support for certain assets. QCAD was relaunched last year by digital asset company Stablecorp with the promise to maintain reserves at least equal to the amount of QCAD in circulation on public blockchains. QCAD is available for use on Ethereum (ETH), Stellar…
BlackRock and Securitize last month teamed up to create the BlackRock USD Institutional Digital Liquidity Fund, which may prove to be geared toward RWA tokenization. Source
When movie rights for the book were shopped around Hollywood, the pitch letter said, as reported in 2022, that Lewis “likens [SBF and Binance’s Changpeng “CZ” Zhao] to the Luke Skywalker and Darth Vader of crypto” – and it wasn’t hard to deduce that SBF was, in the “Big Short” author’s view, the good guy and CZ the bad guy. Source
USDT issuer Tether set a new record after making $4.5 billion in net profits during the first quarter of 2024. A BDO assurance opinion released on May 1 also showed that Tether’s Treasury bills stockpile reached a new high of over $90 billion, and the digital asset firm’s total net equity crossed $11.3 billion due to diversified operations. According to the attestation, since last year’s fourth quarter, USDT provider ownership of U.S. Treasuries and net equity have grown from around $80 billion and $7 billion, respectively. Source: Tether The latest…
Auckland, New Zealand, May 1st, 2024, Chainwire Acala Network releases a new technological roadmap displaying the necessary steps in offering multi-chain services to users. Acala, a foundational platform within the Polkadot ecosystem, unveils the Sinai Upgrade, a significant advancement in its Acala 2.0 initiative aimed at broadening the horizons of the overall crypto financial landscape. This upgrade is set to enhance the platform’s multichain capabilities, setting a new standard for decentralized finance (DeFi) not only on Polkadot, but across any layer 1, 2 or 3 blockchain network. Multichain Integration and…
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As April comes to a bearish close, expectations for Dogecoin in May are not exactly bullish, especially as the crypto market has continued to fall. DOGE has been one of the main losers during this time, falling below $0.14. This underperformance is expected to continue as the machine learning algorithm at CoinCodex predicts further decline for the meme coin. Algorithm Predicts Another 13% Decline Despite the Dogecoin price already suffering a notable 14% decline in the last week, the machine learning algorithm believes it will fall another 13% in the…