Day: June 30, 2024

Defi Education Fund on Chevron Doctrine Overruled: ‘It Opens a New Chapter in the Battle for Clear Regulations’

The Defi Education Fund, an organization focused on defending and bringing clarity to decentralized finance, pondered on what the recent overruling of the so-called Chevron doctrine might mean for crypto. The organization explained that this decision marks a new chapter in the battle for clearer regulations in the crypto environment, putting Congress at the forefront […] Source CryptoX Portal

National Power Administration ANDE Employees Allegedly Involved in Setting up Illegal Bitcoin Mining Farms in Paraguay

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National Power Administration (ANDE) employees have been accused of participating directly in setting up illegal bitcoin mining farms in Paraguay. According to local sources, seven engineers of the institution would have been installing bitcoin farms across the country as the prosecutor’s office is carrying out this investigation with ANDE’s cooperation. Seven ANDE Engineers Involved in […] Original

Top cryptocurrencies to watch this week: MOG, KAS, FET

The prevailing bearish sentiment in the cryptocurrency market extended throughout June. Last week, Bitcoin (BTC) fell below the $59,000 threshold for the first time in eight weeks.  Widespread losses ensued across the market. Some assets bucked the trend, recording new all-time highs. Selective bullishness wasn’t enough to prevent the overall crypto market cap from decreasing by 4.6% to $2.24 trillion. Based on their strong performances last week, here are our top cryptocurrencies to watch this week: MOG, KAS and FET prices – June 30 | Source: Santiment MOG hits new…

Treasury and IRS Announce Digital Asset Tax Reporting Regulations

The U.S. Department of the Treasury and the IRS have released final regulations for tax reporting on digital asset sales, as part of the Biden-Harris administration’s implementation of the Infrastructure Investment and Jobs Act. Additionally, the Treasury and the IRS revealed that they anticipate issuing further rules later this year to establish reporting requirements for […] Source CryptoX Portal

June sales drop 47% but there are more buyers and sellers

The non-fungible token (NFT) market experienced a remarkable drop in activity over the past month, with significant dips across various metrics. According to Crypto Slam data: Global NFT sales volume reached $476.3 million in June, marking a 47.22% decrease. The number of NFT buyers skyrocketed to 1.259 million — an astonishing 1700.83% increase. The number of sellers climbed to 744,965 — up by 1059.64%. The increase in buyers and sellers was juxtaposed against a 51.4% drop in NFT transactions month-over-month Top blockchains by NFT sales volume Blockchains by monthly NFT…

XRP Price On The Verge Of Breaking Falling Wedge

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XRP has mostly traded below $0.5 since the second week of June but a new price formation shows this could change very soon. According to a crypto analyst known pseudonymously on social media as ZAYK Charts, XRP has been forming a wedge pattern over the past few months that could succumb to a 40% breakout from the current price level. Related Reading XRP On The Verge Of Breaking Out Like most cryptocurrencies, the price of XRP has declined in the past few weeks. Price data from Coinmarketcap shows it has…

Analyst Updates Spot Ether ETF Launch Date Prediction Citing Slow SEC Review

Bloomberg’s senior ETF analyst has updated his prediction regarding the launch of ether exchange-traded funds (ETFs), noting delays due to the U.S. Securities and Exchange Commission (SEC)’s review process during the holiday week. Despite the approval of 19b-4 filings for eight ether ETFs in May, the S-1 registration statements are still pending. SEC Chair Gary […] Source CryptoX Portal

Bitcoin ATM installations reach 38k, below the all-time high

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The global Bitcoin ATM market has seen significant growth. There are now over 38,000 Bitcoin ATMs worldwide, up from just over 10,000 in October 2020 and down by 2,000 from its all-time high (ATH) of nearly 40,000 in December 2022. According to data available on Coin ATM Radar, the global tally of installed Bitcoin ATMs stands at 38,279 as of the latest count. This expansion is driven by factors such as accessibility and ease of use, profitability for operators who earn transaction fees above the Bitcoin spot price, and favorable…

Stablecoin Market Remains Steady in June Amidst Crypto Volatility

While June was a lackluster period for crypto assets as many experienced double-digit losses against the U.S. dollar, the stablecoin market also saw minimal growth over the past 30 days. Ethena’s USDE led the growth, with its supply increasing by 21.4% since May. Stablecoin Economy Shows Little Change in June The stablecoin market remained relatively […] Source CryptoX Portal

The Six-Digit Struggle: What if Bitcoin Falls Short of $100K?

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As bitcoin continues to lead the cryptocurrency market, its notable climb beyond previous peaks has drawn the interest of investors and supporters alike. The dominant cryptocurrency’s latest performance suggests it might approach a triple top, potentially exceeding $90,000. However, reaching the six-figure mark will be a significant psychological challenge, and it may fall short of […] Original