Day: June 20, 2024

Cardano Bucks Bears As Large Transactions Climb To $10 Billion, Can This Drive Price To $1?

boss

The Cardano decline in the past week seems to be coming to an end, as evidenced by on-chain data. While the overall crypto market has been in a slump, Cardano is starting to buck the trend. ADA, Cardano’s native token, has seen a huge surge in on-chain transactions from large holders, indicating sporadic activity and interest in the blockchain. Notably, transaction data shows that Cardano has registered over $10 billion worth of large transactions in the past 24 hours, representing a 26% increase within the time frame. Furthermore, this puts…

Crypto Exchanges Brace for EU’s MiCA Rules: Stablecoins Delisted by Uphold, Binance

boss

This month, several cryptocurrency exchanges are delisting certain stablecoins to align with the European Union’s Markets in Crypto-Assets (MiCA) regulations, which establish more stringent rules for fiat-backed and algorithmic stablecoins in the European Economic Area (EEA). Uphold announced it will delist a selection of stablecoins on July 1, and Binance has recently removed stablecoin funding […] Source

Telegram Is Crypto’s Adoption Machine

Recently, it became more than that for on-chain traders. A new generation of Telegram trading bots changed crypto UX forever, and perhaps changed on-chain trading forever. Buying/selling, setting limit orders, scanning new projects, sniping new launches, and copy trading “smart money,” all became simple with a single command. Source

Farworld, Building Gaming on Farcaster, Raises $1.75M

June 20: Farworld Labs, the Farcaster-native gaming company, has closed its $1.75 million pre-seed funding round, co-led by Lemniscap and Variant. According to the team: “The funding will enable Farworld Labs to expedite the rollout of upcoming Q3 releases, including the highly anticipated launch of the Farcade platform in conjunction with top-tier studios and developers. Built on decentralized social media protocols, the Farcade is a platform and suite of tools for developers to build crypto-native games that integrate with onchain social, making games instantly playable within social media feeds with…

Microstrategy Increases Bitcoin Portfolio to 226,331 BTC After Latest Purchase

boss

Nasdaq-listed Microstrategy has acquired 11,931 more bitcoins for $786 million, raising its total cryptocurrency holdings to 226,331 bitcoins, valued at $8.33 billion with an average purchase price of $36,798 per coin. The acquisition was funded through proceeds from a private offering of convertible senior notes that offer a 2.25% annual interest rate. MSTR Now Hodls […] Original

Solana Could Face A 41% Crash: Mechanism Capital Co-Founder

boss

Andrew Kang, co-founder of Mechanism Capital, voiced concerns over the potential volatility and impending price correction of Solana (SOL) in a market analysis posted on X. His comments come amid a broader dialogue concerning the delayed second wave of US spot Bitcoin ETFs, which he now anticipates could be pushed back by one to two quarters. He states, “I believe the timeline for this is delayed by 1-2 quarters. Some market views. Experts now suggest that solicitation approval/ETFs added to wealth management platforms is slated for Q4 instead of late…

Crypto Custody Firm Fireblocks Adds ‘One-Click’ Audits, Tax Reporting

“When you’re sitting at a board meeting and the CEO says, ‘I’ve got this idea we should tokenize assets, or we should get into crypto and payments in USDC,’ the first person to knock on the table during that board meeting was a CFO saying they don’t know how to handle these kind of assets,” Zackon said in an interview. “Well now it’s easy for them. Everything they are used to from the Web2 world exists exactly like it’s built for the CFO that maybe doesn’t even have any connection…

Michael Saylor’s MicroStrategy Acquires 11.9K More Bitcoin for $786M

Led by Executive Chairman Michael Saylor, the company as of the end of April held 214,400 bitcoins. This latest acquisition brings the company’s total holdings to 226,331 tokens worth just under $15 billion at bitcoin’s current price of roughly $66,000. The company’s bitcoins were purchased at an average price of $36,798 each, or roughly $8.33 billion. Source

Report: Bitcoin Market Lacks Upward Momentum Amid Weak Demand

boss

Bitcoin continues to trade near a crucial price level, with the downside appearing limited but a lack of bullish momentum evident. The leading cryptocurrency stands around the $65,000 to $66,000 mark, a critical onchain realized price that could either support the price or signal a correction, according to the latest analysis from Cryptoquant researchers. Cryptoquant: […] Original