Day: June 19, 2024

Cryptocurrency Exchange Spot Volumes Surge over 170% in a Year

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Bitcoin (BTC) has been maintaining its multi-month highs for another consecutive month, just a step away from its historical highs. It is driving investor activity and, consequently, the trading volumes of the largest crypto exchanges. In May, the spot volume for the top ten platforms exceeded $1 trillion, growing by 173% compared to the same month a year earlier. Cryptocurrency Exchange Volumes up YoY, but Falling in 2024 Looking at the statistics of the largest cryptocurrency exchanges in terms of volume, we notice that May brought the second month of…

Inside the $1.6 billion Bitcoin heist that shook the crypto world

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How did one of the earliest and most devastating Bitcoin heists unfold, resulting in the loss of $1.6 billion and shaking the crypto community? Read on. In the early days of Bitcoin (BTC), the crypto world was like the Wild West — uncharted, exciting, and fraught with dangers lurking around every corner. It was a time when few people understood what Bitcoin was, let alone its potential. The year was 2011, and Bitcoin was still in its infancy. Its price hovered around $10, a far cry from its meteoric rise…

Bybit card users can now use Apple Pay to fund transactions

One of the world’s largest cryptocurrency exchanges is now integrating Apple Pay into its platform. Bybit integrated Apple Pay into its platform in hopes of providing users with a safer, more secure, and private way to purchase crypto through the Bybit app or website. Security and privacy are paramount to Bybit and Apple Pay users, so this integration resolves many security concerns.  Joan Han, Sales and Marketing Director at Bybit, said, “We are thrilled to offer Apple Pay to our customers as a checkout option in the Bybit app or…

Bitcoin Battles $64,515 Support Level, Can It Hold or Will Bears Prevail?

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My name is Godspower Owie, and I was born and brought up in Edo State, Nigeria. I grew up with my three siblings who have always been my idols and mentors, helping me to grow and understand the way of life. My parents are literally the backbone of my story. They’ve always supported me in good and bad times and never for once left my side whenever I feel lost in this world. Honestly, having such amazing parents makes you feel safe and secure, and I won’t trade them for…

analyst reiterates Buy rating and $4 price target

HC Wainwright has reiterated a buy rating with a target price of $4 for the Bitfarms (NASDAQ:BITF) stock. According to HC Wainwright analyst Mike Colonnese, Bitfarms is currently one of the “most attractively valued stocks in BTC mining.” The company’s indication that it’s open to a sale if that maximizes shareholder value suggests that any successful bid could come at a hefty premium compared to where BITF currently trades. Colonnese, who initiated coverage for the Bitcoin mining firm’s stock early this month, issued the bullish forecast for BITF in a…

FOMC dot plot sparks $600m in crypto investment outflows

Crypto investment product AUM plunged late last week following a hawkish FOMC meeting and short-term macroeconomic outlook. CoinShares highlighted a $600 million net outflow from crypto vehicles like U.S. Bitcoin (BTC) ETFs as the Federal Open Market Committee (FOMC) meeting shook investor confidence in risk assets.  Trading volumes declined from their weekly average of $22 billion to $11 billion last week. The drops culminated in the biggest outgoing capital stream in over three months, and broke a 20-day inflow streak for spot BTC ETFs on Wall Street. Bitcoin was especially…