Day: July 2, 2024

Sony Group Planning Launch of Crypto Exchange With Acquisition of Amber Japan: Report

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Japanese conglomerate and consumer electronics giant Sony Group is reportedly preparing to unveil a crypto exchange platform in its home country. Blockchain reported Colin Wu says that Sony Group has purchased Amber Japan, the Japanese subsidiary of the digital asset firm Amber Group. “Singapore market maker Amber Group acquired Japan’s regulated cryptocurrency trading platform DeCurret in early 2022 and changed its name to Amber Japan. Later, due to the collapse of FTX, Amber Group fell into trouble and was suspected of a complete debt-to-equity transaction with Fenbushi. Amber Group investors…

Bitcoin Miners Slow Down Selling In July, What This Could Mean For Price

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On-chain data shows that selling pressure from Bitcoin miners has recently slowed down. This is significant considering the impact it could have on Bitcoin’s price heading into the third quarter of the year.  Bitcoin Miners’ Selling Pressure Has Significantly Declined Referencing data from the on-chain analytics platform CryptoQuant, crypto analyst Crypto Dan noted that selling pressure from miners has significantly declined for two reasons. One is that the quantity of Bitcoin these miners sent to exchanges to sell has reduced drastically since May.  Related Reading Secondly, the crypto analyst mentioned…

CleanSpark’s amped hashrate mined 445 Bitcoin in June

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CleanSpark capped a busy June with an uptick in mined Bitcoin and a 2x increase in hashrate compared to December. According to a Tuesday press statement, CleanSpark mined 445 Bitcoin (BTC) in June after adding five new mining facilities in Georgia. The mining startup also surpassed its 20 EH/s operational hashrate target set for mid-year. “We continue to maximize efficiency at our existing sites and look forward to the opportunities ahead of us in Wyoming and Tennessee,” said CEO Zach Bradford. CleanSpark’s mining numbers for last month indicate strength from…

Latam Insights Encore: The Bolivian Opportunity for Crypto After Its Unbanning

Welcome To Latam Insights Encore, a deep view of Latin America’s most relevant economic and cryptocurrency-based news last week. In this edition, we examine the opportunity for cryptocurrency in Bolivia after the central bank unbanned it from its financial system and how the citizens might leverage these new tools to alleviate the deficiencies of traditional […] Source CryptoX Portal

Crypto Market Mirrors Early June, Says Matrixport Co-Founder

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In a recent commentary on X, Daniel Yan, co-founder of Matrixport and CIO at Kryptanium Capital, offered a detailed comparison between the current crypto market dynamics and those observed in early June. His insights are especially relevant as the market approaches several key economic releases that could significantly influence the trajectory of major cryptocurrencies like Bitcoin (BTC) and Solana (SOL). History Repeating For The Crypto Market? Yan’s analysis began with an overview of the current market recovery, noting that both BTC and SOL are “grinding at key technical levels nicely…

Bitcoin (BTC) ETFs Saw Positive Inflows in June

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Data from Bloomberg Intelligence shows the spot funds saw net inflows of $790 million even as the price of bitcoin (BTC) tumbled 7%. Leading the way was what’s now the largest of the spot ETFs, BlackRock’s iShares Bitcoin Trust (IBIT), where inflows topped $1 billion, offsetting by itself what continue to be sizable outflows from the high-fee Grayscale Bitcoin Trust (GBTC). Original

Paxos Gains Full Approval From Singapore’s Monetary Authority for Digital Token Services

Paxos has secured full approval from the Monetary Authority of Singapore (MAS) to offer digital payment token services, positioning Singapore as a key player in Paxos’s global stablecoin operations. The approval permits the issuance of stablecoins compliant with MAS’s forthcoming regulatory framework. DBS Bank Named Main Banking Partner as Paxos Secures MAS Approval Paxos, a […] Source CryptoX Portal

36% Explosion! ENS Steals The Spotlight In The Crypto Market

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The ENS token (Ethereum Name Service) has recently taken center stage in the crypto community, sustaining a 36% rise in in the last week. This steady surge has sparked widespread interest, with some analysts predicting a prolonged bullish trend, while others advise caution. Related Reading ENS: Price Explosion & Renewed Investor Interest ENS, the native token of the Ethereum Name Service, which translates human-readable domain names into machine-readable wallet addresses, surged by over 2% in the past day. This propelled the token as one of the highest gainers today. ENS…

Crypto Exchange Kraken Is Considering Going Nuclear

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“Crypto’s round-the-clock and global nature means Kraken needs a constant supply of energy, particularly as we facilitate a larger proportion of global trading volumes,” Patankar said. Due to the 24/7 demands of running a cryptocurrency business and expected mass adoption of crypto over time, Kraken is looking at how it can scale its business in terms of energy supply and latency. Source