Bankruptcy Court Backs Bittrex in Cryptocurrency Freeze Dispute

The bankruptcy proceedings of Bittrex Inc. involved a legal dispute over claims filed by Azim Ghader, who sought recovery for lost profits and damages after his cryptocurrency was frozen on the Bittrex exchange in 2017. The United States Bankruptcy Court for the District of Delaware found that Bittrex had complied with legal requirements and upheld […] Source

Price Tumbles As Demand Dries Up

Crypto investors are keeping a close eye on Ripple (XRP) as technical indicators paint a concerning picture for the altcoin’s price. After closing below its 20-day exponential moving average (EMA) for four consecutive days, XRP has entered what many analysts interpret as a bearish zone. Related Reading This technical indicator suggests a potential shift in market sentiment, with the average price of XRP over the past 20 days acting as a resistance level. With the current price trading below this key benchmark, analysts fear a decline in demand could be…

NFT market slumps over 7%: Ethereum leads despite declinee

The non-fungible token (NFT) market experienced another sluggish week, with overall sales dipping by 7.5% over seven days, reaching $121.4 million on June 1.  Top blockchains by sales volume Over the last seven days, Ethereum (ETH) has stayed in first place as the leading blockchain for NFT transactions after overtaking Bitcoin (BTC) last week. According to data from CryptoSlam, the blockchain maintained its dominance with total sales of $37.43 million, despite an 11.24% decrease from the previous week.  Bitcoin, the second most active blockchain for non-fungible token sales, raked in…

Cathie Wood’s Ark Invest Halts Spot Ethereum ETF Plans

Cathie Wood’s Ark Investment Management has withdrawn from the race to launch a spot ether exchange-traded fund (ETF), as its name was removed from the application filed with 21shares. The ETF, now renamed 21shares Core Ethereum ETF, reflects Ark’s decision not to pursue the ether ETF at this time. Despite this, Ark remains committed to […] Source BitcoincryptoexchangeExchanges CryptoX Portal

Senate Urged to Pass Landmark Crypto Bill After Biden Vetoes Resolution to Overturn SEC Rules

Following President Joe Biden’s veto of the resolution to overturn the U.S. Securities and Exchange Commission (SEC)’s controversial crypto rules in SAB 121, U.S. lawmakers in both the Senate and House of Representatives have intensified their efforts to pass the landmark crypto bill, the Financial Innovation and Technology for the 21st Century (FIT21) Act. ‘Senate […] Source BitcoincryptoexchangeExchanges CryptoX Portal

Bitcoin Retreats After Failing To Break Crucial $72,983 Resistance

Following the failure to break above the $72,983 resistance level, the price of Bitcoin has continued to drop. Although Bitcoin’s price is still trading above the 1-day Simple Moving Average (SMA), this rejection has led to the crypto asset dropping from $71,942 to $66,785 and moving below the SMA both in the 1-hour and the 4-hour chart. This drop below the SMA could trigger a change of character and the price will go bearish.  As of the time of writing the price of Bitcoin was trading at around $67,635 and…

Ripple CEO Says XRP, Solana, Cardano ETFs Are ‘Inevitable’

Ripple CEO Brad Garlinghouse foresees the emergence of exchange-traded funds (ETFs) for cryptocurrencies beyond bitcoin and ether, following the U.S. Securities and Exchange Commission (SEC) approval of spot bitcoin and ethereum ETFs. At the Consensus 2024 event, he stated: “I think it’s just a matter of time, and it’s inevitable there’s gonna be an XRP […] Source BitcoincryptoexchangeExchanges CryptoX Portal

Bitcoin Miners See 46.15% Revenue Drop in May, Lowest Since October 2023

After two consecutive months of record-breaking revenue, bitcoin miners experienced a significant downturn in earnings in May, a level not seen since October 2023. In April, miners generated $1.79 billion, whereas May’s figures show a considerably lower revenue of approximately $964.24 million. Sharp Decline in Bitcoin Miner Revenue in May Bitcoin miners generated 46.15% less […] Original

Analyst Predicts Stellar Rise For The Solana Memecoin

The meme coin market is back in the spotlight, and BONK is no exception. The dog-themed token has seen a price surge of over 40% in the last month, mirroring a broader trend among its rival meme coins. Related Reading This recent rally comes amidst positive sentiment surrounding the crypto market, fueled in part by the long-awaited approval of an Ethereum ETF. Analysts are cautiously optimistic about BONK’s future, with some predicting a potential return to its all-time high. Analyst Bullish On New ATH For BONK Renowned crypto analyst CryptoJack…

Bitcoin Firm Unchained Partners With University of Texas to Launch $5 Million Bitcoin Endowment Fund

The financial services firm Unchained and the University of Texas have partnered to launch a long-term endowment fund in bitcoin (BTC). Joseph Kelly, CEO and co-founder of Unchained, set the ball rolling with a personal donation of two bitcoins. The bitcoin financial services firm also intends to connect UATX faculty and their research with key […] Original