Day: July 6, 2024

Mt. Gox Bitcoin Payout Fears Wipes Out $170 Billion From Crypto Market

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The cryptocurrency market experienced a substantial downturn on Friday, compounding the selling pressure witnessed over the past two weeks. The leading cryptocurrency, Bitcoin (BTC), retraced over 20% from its highs in June and May, dropping as low as $53,500.  The market decline was largely attributed to the long-awaited trustee overseeing the Mt. Gox bankruptcy, who announced the commencement of Bitcoin and Bitcoin Cash repayments to creditors affected by the infamous hack that resulted in billions in losses.  As a result, the entire cryptocurrency market shed over $170 billion in combined…

Ethereum Price Prediction | Is ETH a Good Investment?

How will the recent market crash impact Ethereum price prediction? Experts weigh in on potential outcomes. The crypto market experienced extreme turbulence over the past 24 hours. Bitcoin (BTC), the leading cryptocurrency, plummeted to a new low of $53,700 on July 5.  The market-wide sell-off intensified following reports that Mt. Gox, the infamous collapsed crypto exchange, transferred over 47,000 BTC (worth approximately $2.6 billion) to a new wallet in preparation for a large-scale payout totaling about 142,000 BTC (valued at $7.9 billion at current prices). On July 5, during Friday’s…

Comparing The Profitability Of The Top Meme Coins

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Holders of the top meme coins have witnessed rough price action in the past few weeks. The majority of meme cryptos have crashed hard during the last week, with losses of over 20% in each asset across the board. Particularly, holders of the top meme coins Dogecoin, PEPE, and Shiba Inu have been disappointed, as the price drop means many of them have now fallen out of profitability.  Interestingly, IntoTheBlock’s “In/Out Of The Money” metric shows a varying level of profitability in each meme coin, and it seems like SHIB…