Day: May 13, 2024

Bitcoin Runes activity drops significantly, weeks after generating $135m in fees

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Activity on Bitcoin’s Rune protocol has dropped significantly, with data showing it reached its lowest level on May 11.  The Runes protocol has been making waves in the crypto space since its launch on April 19, coinciding with the latest Bitcoin (BTC) halving event. The protocol’s debut on April 19, which coincided with the latest Bitcoin halving, was nothing short of a blockbuster. It drove a surge in Bitcoin transaction fees, raking in a record $107 million in a single day and $135 million within the first week. However, the…

Mark Cuban Blasts SEC’s Crypto Regulation, Advocates for Japan’s Approach

Billionaire investor and “Shark Tank” star, Mark Cuban, has taken to social media to voice his concerns about the U.S. Securities and Exchange Commission’s (SEC) approach to cryptocurrency regulation. In a series of posts, Cuban criticizes the SEC for stifling innovation and causing harm to businesses in the crypto industry. He contrasts the U.S. regulatory […] Source CryptoX Portal

Bitcoin Cash Price At Make-Or-Break Moment, Key Levels To Watch

Bitcoin Cash price extended losses and traded below the $450 support. BCH is consolidating and might start a recovery wave if there is a move above $440. Bitcoin cash price started a fresh decline below the $440 support. The price is trading below $440 and the 100 simple moving average (4 hours). There is a key bearish trend line forming with resistance at $438 on the 4-hour chart of the BCH/USD pair (data feed from Kraken). The pair could start a decent upward move if it clears the $440 resistance…

XRP Bears Keeps Pushing, Indicators Suggest A Strengthening Case of More Losses

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XRP price started a fresh decline from the $0.5050 resistance zone. The price could decline further if there is a close below the $0.4865 support. XRP extended losses and traded below the $0.500 support. The price is now trading below $0.4950 and the 100-hourly Simple Moving Average. There is a key bearish trend line forming with resistance at $0.4980 on the hourly chart of the XRP/USD pair (data source from Kraken). The pair could slide further toward the $0.4550 support in the near term. XRP Price Dives Below $0.50 Recently,…

Ethereum Price Takes Hit and Turns At Risk of Fresh Lows

Ethereum price is gaining bearish momentum below $2,950. ETH might continue to move down toward the $2,550 support in the near term. Ethereum struggled to clear the $2,950 resistance and started a fresh decline. The price is trading below $2,920 and the 100-hourly Simple Moving Average. There is a key bearish trend line forming with resistance at $2,910 on the hourly chart of ETH/USD (data feed via Kraken). The pair could gain bearish momentum if there is a move below the $2,850 support. Ethereum Price Extends Losses Ethereum price failed…

Investment Firm Franklin Templeton: Base to Lead Ethereum L2 Sector, Powered by Socialfi

Franklin Templeton, a global investment behemoth, has praised the development and growth of Base, the Coinbase-incubated Ethereum L2. On social media, the company declared that Base had “hit a home run” due to its popularity with meme coins and socialfi applications, including the pioneering app in the space, Friend.tech. Franklin Templeton Praises Base’s Performance, Comments […] Source CryptoX Portal

Bitcoin Price Signals Bearish Continuation, Why BTC Could Drop Below $60K

Bitcoin price started a fresh decline from the $62,000 resistance zone. BTC is declining and remains at a risk of more losses below the $60,000 level. Bitcoin started a fresh decline after it failed near $62,000. The price is trading below $61,000 and the 100 hourly Simple moving average. There was a break below a bearish flag pattern with support near $60,950 on the hourly chart of the BTC/USD pair (data feed from Kraken). The pair could gain bearish momentum if there is a close below the $60,000 level. Bitcoin…

Philippine Central Bank Approves Peso-Pegged Stablecoin for Faster Remittances

The Bangko Sentral ng Pilipinas, the central bank of the Philippines, has approved PHPC, a stablecoin pegged to the Philippine peso, aimed at facilitating cost-effective remittances. Crypto exchange Coins.ph, the stablecoin issuer, plans to attract 20,000 to 30,000 users in the first month. The PHPC will be the first peso-backed stablecoin available for retail use, […] Source BitcoincryptoexchangeExchanges CryptoX Portal

Billionaire Barry Sternlicht Foresees Banks Failing Every Week in US

Barry Sternlicht, CEO of Starwood Capital Group, has voiced concerns about the vulnerability of regional and community banks in the U.S. to high interest rates and inflation, particularly amid the commercial real estate downturn. He forecasted frequent failures of these banks, predicting: “You’re gonna see your regional bank fail … every week, maybe two a […] Source CryptoX Portal