Recent data from the International Monetary Fund (IMF) points to an ongoing decline in the U.S. dollar’s share of allocated foreign reserves held by central banks and governments. Economists explained that reserve managers are attracted to nontraditional reserve currencies “because they provide diversification and relatively attractive yields, and because they have become increasingly easy to […] Source CryptoX Portal
OkayCoin, a cryptocurrency exchange, has officially launched in South Korea. According to a June 15 press release, the move aims to cater to the growing demand for crypto staking services across the region. The team also claims the move is in response to the increasing adoption of blockchain-based digital assets and investors’ desire for passive income. The global interest in crypto is on the rise. For the uninitiated, staking allows investors to earn rewards by participating in the network operations of certain cryptocurrencies, providing a source of passive income. This…
The Nigerian securities regulator warned residents against investing in a meme coin linked to singer and celebrity Davido. The regulator described the meme coin as a highly risky investment, saying investors who invest in it do so at their own risk. The Commission will continue to monitor the ecosystem and will exercise its authority if […] Source CryptoX Portal
Solana (SOL) whales are at it again, as they are seen to have moved a significant amount of their Solana holdings in the last 24 hours. This comes amidst the bearish sentiment in the crypto market, which has also caused Solana’s price to decline. Solana Whales Move Over $500 Million Worth Of SOL In Several Transactions On-chain data shows that Solana whales have conducted six large transactions in the last 24 hours. The first transaction involved the transfer of over 1.5 million SOL tokens ($216 million) to an unknown wallet (HCC…wmr).…
Google Trends data reveals a consistent increase in search interest for “CBDC,” which stands for central bank digital currency, over the past five years. The term has maintained a score above 20 since August 2022, on a scale of 1 to 100, where 100 signifies peak interest. CBDCs See Consistent Search Growth, Top Regions Include […] Source CryptoX Portal
New York Attorney General Letitia James is settling with crypto exchange Gemini over fraud allegations for $50 million. In a new press release, James says she’s recovered $50 million worth of digital assets on behalf of 230,000 investors allegedly defrauded through Gemini’s Earn program, which had the firm partnering up with crypto lender Genesis to provide staking rewards. However, Genesis ended up going bankrupt in 2022 and thus Gemini could not pay back customers what it owed them. In 2023, James launched an investigation into Gemini and found that the…
The Australian Securities Exchange (ASX) will debut its first exchange-traded fund directly investing in Bitcoin (BTC) on June 20. The VanEck Bitcoin ETF to launch on ASX According to reports, the first Bitcoin ETF to debut on Australia’s primary stock market is the VanEck Bitcoin ETF. This spot ETF allows investors to gain exposure to Bitcoin through a regulated, transparent, and well-established investment vehicle. Ever since the Gary Gensler-led Securities and Exchange Commission (SEC) greenlighted the U.S.’s first spot Bitcoin ETF in January, other regions have been scampering to join…
Uniswap (UNI) has seen a notable price increase of over 9.8% in the past 24 hours, breaking above $11 as it defied broader market conditions. This surge in UNI’s price has pushed its market cap to $8.74 billion, placing it at 17th among the largest cryptocurrencies by market cap. According to data from CoinGecko, the current UNI price represents a 17.1% increase over the last seven days and a 63.6% jump across 30 days. Uniswap 24-hour price chart | Source: CoinGecko While Bitcoin (BTC) only made marginal gains of about…
According to data from CoinMarketCap, Bitcoin has had an unimpressive week with its market price falling by 4.65% over the last seven days. However, prominent crypto analyst Ali Martinez has released a price alert indicating that the market leader could be set for more losses if it fails to secure a certain support zone. Related Reading Bitcoin URPD Chart Shows Potential Correction – Analyst In an X post on June 15, Martinez stated that Bitcoin needs to quickly rise above $66,254 else it risks a potential decline to around the…
Bloomberg analyst Eric Balchunas expects spot Ether (ETH) exchange-traded funds (ETFs) to begin trading in the U.S. in July. Balchunas updated his forecast for the official launch of spot Ether ETFs, moving the over/under date to July 2. The crypto expert noted that the U.S. Securities and Exchange Commission (SEC) staff had sent comments on the S-1 filings to issuers, describing them as “pretty light” without major issues. He mentioned that the SEC has asked for responses within a week, suggesting a decent chance that the ETFs could be declared…