Month: May 2024

Bitcoin (BTC) Price Dips Below $62K Ahead of U.S. Inflation Figures

Bitcoin fell below $62,000 during the European morning on Tuesday, losing about 1.63% over 24 hours. The CoinDesk 20 Index (CD20), a broad measurement of the digital asset market as a whole, fell almost 1.1%. Ether declined more than 2% to just above $2,900, while solana was largely unchanged at $145. In the next 24 hours, attention will turn to inflation reports out of the U.S. The latest Producer Price Index (PPI) is set for release at 08:30 ET today and the Consumer Price Index (CPI) is due tomorrow. Stubbornly…

Crypto Exchange Spot Volumes Plunge 60% Post BTC Halving

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After a record-breaking March driven by equally impressive Bitcoin (BTC) performance, spot volumes on the top 10 cryptocurrency exchanges dropped by more than 60% in April. According to a benchmark by Finance Magnates Intelligence, their trading volume fell from $2.1 trillion in March to just under $1.3 trillion in April. Cryptocurrency Exchange Volumes Plummet Post-Bitcoin Halving In March, volumes on the largest cryptocurrency platforms reached their highest levels in nearly four years, increasing by an average of 120%. This surge coincided with a new all-time high (ATH) for Bitcoin, recorded…

Ghana’s Vice President Says His Government Aims to Become the First to Be Powered by Blockchain

The Ghanaian government’s next phase in its digitalization drive is set to be the adoption of blockchain technology, according to the country’s vice president. He stated that his administration aims to become one of the few governments worldwide powered by blockchain, and the first in Africa. A Blockchain-Powered Government The Vice President of Ghana, Mahamadu […] Source CryptoX Portal

Bitcoin miners feel pressure of slashed rewards post-halving

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Analysts at blockchain firm Kaiko say Bitcoin’s recent halving might soon force miners to sell their crypto holdings. Bitcoin miners are starting to feel pressure as daily average network fees, which spiked after the halving, have begun to decline, according to analysts at Kaiko. In a recent research report, analysts at the Paris-headquartered firm noted that daily average network fees surged following the halving, providing some relief for Bitcoin miners. However, these fees have since “come down as the initial rush of users to the Runes protocol cooled off,” the…

Bitcoin Price Poised To Surge If Projections Hold True

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The US Consumer Price Index (CPI) data, set to be released tomorrow, May 15 (Wednesday), at 8:30 am ET, is anticipated to be a potentially significant catalyst for the Bitcoin price. This expectation stems particularly from Bitcoin’s recent trend of responding to macroeconomic news, indicating a heightened sensitivity to such data in influencing its market dynamics. The CPI measures inflation by tracking changes in the price levels of a market basket of consumer goods and services. The upcoming report is of particular interest following three consecutive months where inflation data…

Bitcoin Meme Coin Protocol Runes Sees Dim Traction Amid Falling BTC Prices

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Toncoin Outshines Bitcoin With Price Surge And Social Buzz

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The native token of the Telegram-connected Open Network, Toncoin (TON), has outperformed Bitcoin (BTC) despite the recent market turbulence. Bitcoin fell by 3% over the last week, while TON increased by nearly 20%. Within the cryptocurrency world, this unexpected outperformance has set off a wild speculating frenzy. Will TON’s rapid ascent continue, or is this merely a passing blip? Related Reading Social Buzz Fuels The Toncoin Engine One key factor behind TON’s recent success appears to be a surge in social media activity. Social volume, a metric that tracks discussions…