Month: July 2024

Bitcoin, Ethereum, And Solana On Traders’ Radar: What’s Going On?

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After a drab week characterized by Bitcoin, Ethereum, and Solana prices either dumping or moving sideways, prices bounced off strongly by the end of last week. Of note, losses in Ethereum were arrested as prices recovered, rising from around $3,000. At the same time, Bitcoin and Solana pushed higher, closing in on $70,000 and $200, respectively. Interest In Bitcoin, Ethereum, And Solana Spikes According to Santiment data, despite weakness across the scene, there were hints of strength at the tail end of last week. Of note was renewed interest, where…

Are users paying for the exchange’s failures?

Is WazirX prioritizing its own survival over user security with the “socialized loss strategy,” and how does this impact the Indian crypto community? On July 18, WazirX, India’s largest crypto exchange, faced a severe cyber attack. Hackers targeted one of their multisig wallets and made off with over $230 million worth of digital assets.  The attack saw the direct theft of 15,298 Ethereum (ETH), with the exploiter then swapping various tokens like Shiba Inu (SHIB), Polygon (MATIC), and Pepe Coin (PEPE) to gather a total of 59,097 ETH, impacting WazirX’s…

US Authorities Split $2 Billion in Bitcoin Into 2 Wallets, Igniting Custody and Sale Speculation

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Following the U.S. government’s transfer of $2 billion in bitcoin, Arkham Intelligence reported that the federal agency divided the funds into two separate Bech32 bitcoin addresses: one containing 10,000 BTC and the other holding 19,799.99 BTC. Arkham speculates that the 10,000 BTC may have been sent to an institutional custody service. Arkham Reports U.S. Bitcoin […] Original

Trump’s Talk of Bitcoin (BTC) Reserve for the U.S. Leaves Industry Waiting for More Details

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“For the U.S. to institute Bitcoin as a strategic reserve will similarly require further work including determining how much should be held as a reserve and the basis for that threshold, how to acquire, how and where to store, when to utilize and in what circumstances, which agency would be responsible, the timeline to implement, amongst several other considerations,” said Rahul Mewawalla, CEO of Mawson Infrastructure Group, a bitcoin mining company, in an emailed statement. Answering those questions “can be challenging,” and establishing a council of industry participants could help,…

US govt moves $2b worth of Bitcoin after Trump’s ‘no sell’ speech

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Bitcoin fell slightly on Monday as the U.S. government transferred a significant amount of Bitcoin from its Silk Road crypto trove. Data from Arkham showed that the U.S. government sent approximately $2 billion worth of Bitcoin (BTC) to a new address. The transactions were made in two batches, valued at roughly $669 million and $1.33 billion each. According to Arkham, the funds were likely moved to an institutional custodial service, with Coinbase being a likely although unverified candidate due to its role as the preferred brokerage platform for U.S. authorities.…

Shiba Inu’s NVT Ratio Sees Drastic Increase, Is A Rise To $0.00003 Still Possible?

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The Shiba Inu (SHIB) network value to transactions (NVT) ratio has come into focus, with the meme coin currently enjoying an uptrend. However, this metric suggests that Shiba Inu could soon hit a roadblock on its journey to $0.00003.  Shiba Inu NVT Ratio Is On The Rise Data from the on-chain market intelligence platform Glassnode shows that Shiba Inu’s NVT has witnessed a massive increase and is currently way ahead of the meme coin’s price. This is significant as it presents a bearish outlook for Shiba Inu and hints at…

AIOZ Network halts rally as cryptocurrencies mirror Bitcoin dip

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AIOZ Network, a decentralized crypto platform focused on integrating artificial intelligence into Web3 and storage solutions, has seen its upward momentum cool off amid broader crypto market declines. The AIOZ Network (AIOZ) token traded to highs of $0.67 on July 29 before giving up some of the gains as the altcoin market pared gains alongside Bitcoin (BTC). The DePIN project’s slight dip at the time of writing meant AIOZ hovered just above $0.60, with 24-hour gains trimmed to around 10%. However, AIOZ’s trading volume surged by over 570% to more…

Trump’s Bitcoin 2024 speech ‘pressured’ Harris to embrace crypto

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Former President Donald Trump’s keynote address at the 2024 Nashville Bitcoin Conference has sent shockwaves through the political landscape, compelling Kamala Harris to reconsider her stance on cryptocurrency. In his speech, Trump announced plans to implement crypto-friendly regulations, aiming to bolster economic growth and cement the US’s leadership in digital finance.  Nigel Green, CEO of deVere Group, hailed this move as a “masterstroke,” predicting it could significantly impact Harris’s campaign. “By pledging to retain all Bitcoins currently held or acquired by the US government, Trump aims to create a robust…