Day: May 8, 2024

Integrating With TON Network to Widen Its Stablecoin Dominance

When examining the top three blockchain platforms and their stablecoin usage, TRON transactions are heavily dominated by USDT, with a dominance of 98.2%. On TRON, USDT transfers typically range from 95 cents to approximately $2, though gas fees can vary. Meanwhile, the TON wallet is natively integrated into the Telegram app, allowing users to conduct peer-to-peer USDT transactions within the TON wallet for free. Transactions between two USDT users outside the wallet reportedly incur a network fee of 0.0145 TON, which equates to about $0.09 as of May 6 2024.…

Navigating Bitcoin’s Market Dynamics Through Technical Analysis

boss

Real-time analysis of the chart of bitcoin shows that, as of early-May 2024, there was a loss of intermediate-term momentum per momentum indicators like the MACD (Moving-Average-Convergence-Divergence), which has a bearish crossover. The loss of momentum suggests that bitcoin is in a corrective phase that should persist for at least another few weeks. Downside risk can be framed by the next support on the chart, near $51,500, which is defined by a 38.2% Fibonacci retracement of the uptrend off the 2022 low and bolstered by a rising 200-day moving average.…

Ethereum Network Activity Hints At Imminent Takeoff

boss

Ethereum, the world’s second-largest cryptocurrency by market cap, finds itself in a curious position. While the price struggles for direction, its underlying network is experiencing a surge in activity. Ethereum Network Sees Increase In New Users According to crypto data firm Santiment, May 4th saw a whopping 200,000 new Ethereum addresses created, marking the highest single-day growth in nearly two years. This surge suggests a renewed interest in the Ethereum ecosystem, potentially driven by factors like the burgeoning Decentralized Finance (DeFi) space and the ever-evolving world of Non-Fungible Tokens (NFTs).…

Mixed Fortunes for US Bitcoin Funds as GBTC Losses Offset Other Gains

Following two days of positive inflows, U.S. spot bitcoin exchange-traded funds (ETFs) experienced a decline, with $15.7 million exiting on Tuesday. Grayscale’s Bitcoin Trust (GBTC) saw $29 million leave during the day’s trading sessions, overshadowing the break-even and positive reports from the other spot bitcoin funds. Fidelity, Ark Invest, Invesco Report Gains While GBTC Struggles […] Source BitcoincryptoexchangeExchanges CryptoX Portal

Bitcoin Suffers Massive Outflows Amid Crypto Market Uncertainty, Tops $284 Million

boss

The recent unimpressive price action of Bitcoin is playing out in the minds of institutional investors, with recent data highlighting their bearish sentiment. This has led to a wave of massive outflows from  Bitcoin investment products, which could negatively impact the flagship crypto.  Bitcoin Investment Products Record $284 Million Of Outflows CoinShares revealed in a blog post that Bitcoin investment funds recorded an outflow of $284 million last week. Most of these outflows are said to have come from the US Spot Bitcoin ETFs, which saw outflows of $156 million…

A Premier Crypto Exchange Tailored for Seasoned Traders – Blockchain News, Opinion, TV and Jobs

Revolut, the London-based digital banking behemoth boasting over 40 million customers worldwide, has officially launched its much-anticipated Revolut X crypto exchange platform, marking a significant stride into the competitive landscape of cryptocurrency trading. In response to this monumental development, Alex Saleh, Head of Partnerships at Blockchain protection firm Coincover, heralds Revolut’s foray into the crypto exchange arena as a transformative moment for the UK crypto ecosystem. Saleh emphasizes the pivotal role of Revolut’s launch in overcoming previous regulatory uncertainties that stifled innovation within the space. “Revolut’s launch of its new…

Most FTX Creditors to Receive Over 100% Repayment, Court Document Shows

FTX is poised to repay nearly all its account holders fully, according to a reorganization plan presented in court. The bankrupt cryptocurrency exchange has raised about $15 billion mainly by selling investments from itself and its affiliate, Alameda Research. This fund will ensure payments of 118 cents on the dollar for 98% of creditors with […] Source BitcoincryptoexchangeExchanges CryptoX Portal

Thiel-Backed Cryptography Startup Lagrange Raises $13M

As EigenLayer continues to build out its core technology, Lagrange will have “a set of operators from very, very reputable groups that run our infrastructure,” said Hishon-Rezaizaheh. Those operators will include Kraken, the crypto exchange, and Galaxy, a crypto-financial firm, among others. Source

Injective, Underperforming in Crypto Markets, Now Plans Layer-3 Chain on Arbitrum

“The significance of Injective’s integration with Arbitrum extends beyond just building blockchain networks or infrastructure,” said Eric Chen, the co-founder of Injective Labs, in the press release. “It enforces the fundamental principle of interoperability – closing the gap between Ethereum, Cosmos and other widely adopted L1s – for an ecosystem where cross-chain assets and liquidity can be truly composable across ecosystems.” Source