Day: May 2, 2024

Fear and Greed Index falls back to fear for 1st time since October

The sharp drop in the price of Bitcoin has led to a significant deterioration in sentiment among cryptocurrency traders. The Crypto Fear and Greed Index, which reflects the overall emotional background of the crypto market, dropped to 43, the lowest level since last October. Source: Alternative.me The indicator has moved from the greed zone, where it was just a week ago, to the fear zone, signaling growing investor anxiety. Fear is indicated on the scale by a value from 26 to 46. At these levels, bearish sentiment is assumed to prevail. Continued capital outflows from U.S. spot ETFs are weighing…

AppLayer Unveils Fastest EVM Network and $1.5M Network Incentive Program – Blockchain News, Opinion, TV and Jobs

Panama City, Panama, May 2nd, 2024, Chainwire AppLayer has unveiled the fastest and most robust infrastructure for scaling Ethereum-based applications, a cutting-edge blockchain that not only delivers lightning-fast transaction speeds but also offers a new approach to Ethereum Virtual Machine (EVM) development for both DeFi and GameFi developers. AppLayer offers an EVM network that’s 10 times faster than standard Golang based EVM networks and an even more amazing 65 times execution speed boost with C++ stateful pre-compiles. Imagine having both the speediest EVM in the game and the best tools…

Ripple Unlocks 1 Billion XRP From Escrow

On-chain data recently showed that Ripple carried out its monthly escrow unlock for May. As expected, this has raised concerns about how it could affect the XRP price, especially since Ripple has been accused of manipulating the token’s price.  Ripple Unlocks 500 Million XRP Tokens Onchain data revealed 500 million XRP tokens were unlocked from Ripple’s escrow on May 1. The crypto firm is known to unlock 1 billion tokens monthly, although it looks to have only unlocked half this time around. The magnitude of these tokens always raises concerns,…

Bitcoin miner Stronghold explores sale after halving

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Following the halving, some Bitcoin miners are reshuffling operations to adjust to the new paradigm and one entity is considering all options.  According to a press statement, Stronghold Digital Mining is exploring options to maximize shareholder value, including a complete sale of the company and its assets.  The Bitcoin (BTC) miner uses leftover coal as an energy source for its Pennsylvania-based cryptocurrency mining facility. Per the May 2 announcement, Stronghold highlighted a disparity between its stock prices and valuations commanded by market competitors.  Google Finance showed a 62% decline in…

Crypto Analyst Predicts 244% Shiba Inu Rally Based On Bull Flag

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An analyst explained how Shiba Inu could be heading towards a massive rally based on a bull flag pattern that forms in its daily chart. Shiba Inu Has Been Consolidating Inside A Bull Flag Recently In a new post on X, analyst Ali has discussed about a bull flag that has recently appeared in the daily price of Shiba Inu. The bull flag is a pattern in technical analysis (TA) that, as its name suggests, is shaped like a flag on a pole. The pattern forms when an uptrend is…

Spot Bitcoin ETFs reach record $563m outflows

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On May 1, the U.S. spot Bitcoin ETF sector recorded a record capital outflow of $563.77 million. According to SoSo Value, the sector’s fund outflow continued for the sixth straight day. Capital outflows on May 1 reached their highest point since the spot Bitcoin ETFs were approved by the U.S. SEC. Capital outflow was recorded for 10 products, with the hardest hit coming against the Fidelity Wise Origin Bitcoin Fund (FBTC) at $191.09 million. Source: SoSo Value May 1 is also the first day when an outflow of capital was recorded on the iShares Bitcoin Trust (IBIT) position from BlackRock.…