Day: July 23, 2024

Bitwise pledges to donate 10% of Ethereum ETF

Bitwise Asset Management said it will allocate 10% of profits from its spot Ethereum ETF toward supporting Ethereum open-source development. Bitwise, a crypto index fund manager, said in a press release on Monday it would donate some of the profits from its spot Ethereum exchange-traded fund (ETF) to Ethereum developers in a bid to support open-source development. In the announcement, the Chicago-headquartered firm said it will send 10% of profits of the Bitwise Ethereum ETF to two organizations: Protocol Guild, a funding organization, and PBS Foundation, a non-profit research entity.…

Last Resistance: Bitcoin Now Testing Final Short-Term Holder Cost Basis

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On-chain data shows that the Bitcoin price reiterates the last cost basis level associated with the short-term holder group. Bitcoin Price Has Surged Past Final Short-Term Holder Cost Basis As explained by CryptoQuant author Axel Adler Jr in a new post on X, Bitcoin has only one Realized Price of the short-term holders left to break. The “Realized Price” here refers to an on-chain indicator that keeps track of the average cost basis of the investors in the BTC market. Investors carry net profits when the cryptocurrency’s spot price is…

Avail, Long-Awaited Blockchain Project for ‘Data Availability,’ Launches Main Network

Please note that our privacy policy, terms of use, cookies, and do not sell my personal information has been updated. CoinDesk is an award-winning media outlet that covers the cryptocurrency industry. Its journalists abide by a strict set of editorial policies. In November 2023, CoinDesk was acquired by the Bullish group, owner of Bullish, a regulated, digital assets exchange. The Bullish group is majority-owned by Block.one; both companies have interests in a variety of blockchain and digital asset businesses and significant holdings of digital assets, including bitcoin. CoinDesk operates as…

Analysts Expect $6 Billion Market Cap, 20-Fold Price Increase

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Solana-based meme coin Dogwifhat (WIF) has seen a significant price and market capitalization surge over the past two weeks, recording a 68% increase in value during this period. WIF reached $2.81 on Monday, marking its highest monthly valuation.  The token’s market cap has also experienced significant growth, nearly doubling in just one month from $1.5 billion to its current market cap of $2.8 billion. Nevertheless, experts anticipate further growth in WIF’s market capitalization, potentially resulting in the token surpassing its previous all-time highs (ATHs). Bullish Predictions For WIF After hitting…

Bitcoin firm Swan pauses IPO plans, suspends mining arm

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Bitcoin-focused firm Swan is suspending its crypto mining business, pulling plans to IPO “in the near future.” Californian Bitcoin-focused investment firm Swan is halting its plans to go public in the near future and has decided to suspend its mining branch just five months after its launch. In an announcement on X, Swan chief executive Cory Klippsten said the firm is also pulling back from its “accelerated spending plan,” including staff cuts “across many functions.” The Swan CEO explained that the decision was made because the firm doesn’t anticipate “significant…

Leader of Russian State Duma’s Financial Market Committee Labels ‘Hamster Kombat’ a ‘Scam’ and Calls for Its Termination

Anatoly Aksakov, the Chairman of the Russian State Duma Committee on the Financial Market, has stated that ‘Hamster Kombat’, a popular tap-to-earn game, should be stopped in Russia. Aksakov emphasized that ‘Hamster Kombat’ manipulates the psyche of citizens, leading them to believe that they can become wealthy with minimal effort through playing this type of […] Source CryptoX Portal

Glassnode’s Latest Indicators Point to ‘Growing Optimism’

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Meet Samuel Edyme, Nickname – HIM-buktu. A web3 content writer, journalist, and aspiring trader, Edyme is as versatile as they come. With a knack for words and a nose for trends, he has penned pieces for numerous industry player, including AMBCrypto, Blockchain.News, and Blockchain Reporter, among others. Edyme’s foray into the crypto universe is nothing short of cinematic. His journey began not with a triumphant investment, but with a scam. Yes, a Ponzi scheme that used crypto as payment roped him in. Rather than retreating, he emerged wiser and more…