Day: July 1, 2024

Bitcoin Weekend Trading Volumes Plunge To Record Lows

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Bitcoin has long been a hallmark of the cryptocurrency markets, thriving on its 24/7 accessibility. Weekend trading, once a notorious breeding ground for volatility, has been especially significant in the cryptocurrency landscape. However, a recent report by Kaiko reveals a not so rosy picture – BTC weekend trading volumes have plunged to historic lows, potentially marking a new era dominated by institutional weekday warriors. Related Reading Bitcoin Trading Activity Takes A Nap Kaiko’s data is straightforward: Bitcoin weekend trading activity has shrunk dramatically, dropping from a high of 28% in…

Crypto Exchange BingX Expands Chelsea FC Deal, Becomes Training Kit Sponsor

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Cryptocurrency exchange BingX has announced an expansion of its partnership with Chelsea Football Club. Starting from the 2024/25 Premier League season, BingX will transition from sleeve sponsor to official training wear partner for the men’s team. BingX Upgrades Chelsea Partnership, Becomes Official Training Wear Sponsor The expanded partnership builds on BingX’s initial collaboration with Chelsea earlier this year when it became the club’s official sleeve partner. The current upgrade will increase BingX’s visibility in sports arenas, aligning the crypto brand with a recognizable name in the world of football. “We…

Hidden Road Adds Exchanges and Accepts BlackRock BUIDL Token as Collateral

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Hidden Road, a global credit network for institutions trading digital assets, announced it has added several exchanges to its prime brokerage platform. The company also expanded the use of BlackRock’s BUIDL token, accepting it as collateral across its network. New Exchanges Join Hidden Road In a press release today (Monday), Hidden Road stated that it is now integrated with Coinbase International Exchange, following a tie-up with Coinbase Exchange in 2022. Other new integrations include OKX, Deribit, Bitfinex, Bullish, AsiaNext, and SIX Digital Exchange. Michael Higgins, Hidden Road’s Global Head of…

Bitcoin Price Blasts Past $63,000: Top 3 Reasons

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Over this past weekend, Bitcoin (BTC) experienced a significant rally, pushing its price above $63,000—an increase of 5.6% since hitting a low below $60,000 on Friday. This unexpected surge occurred despite a lack of major news triggers, leading to speculations and analyses concerning the underlying causes. Here’s a deep dive into three key factors that might explain this weekend’s price action. #1 Mysterious Bitcoin Whale Activity According to DeFi^2 (@DefiSquared), the number one ranked trader on Bybit and a leading wallet on DeBank, a mysterious “whale” has been active in…

Abra Launches Treasury Service for Corporates That Want to Hold Crypto

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Potential Bitcoin (BTC) Price Rebound May Face Resistance at $65K, OnChain Analysis Shows

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Notably, the decline has pushed prices well below the widely tracked aggregate cost basis of short-term bitcoin holders, or wallets storing cost for 155 days or less. As of writing, the aggregate cost basis for short-term holders was $65,000, according to data source LookIntoBitcoin. Onchain analytics firms consider realized price as the aggregate cost basis, reflecting the average price at which coins were last spent on-chain. Original

Unveiling the Titans of Crypto Mining: A Deep Dive Into 5 Consensus Algorithms

In the intricate world of cryptocurrency, not all algorithms are forged equal. The proof-of-work (PoW) consensus algorithms like Kheavyhash, Scrypt, Blake3, SHA-256, and Ethash are the linchpins that not only secure but also empower the blockchain with the integrity and trust that underpin several of today’s leading digital currencies. Understanding Proof-of-Work and Its Variants Proof-of-work […] Source CryptoX Portal