The CoinDesk 20 Index saw a 1% increase, driven by strong performances from SOL and APT. Source
CoinDesk 20 Performance Update: SOL Jumps 4.1% Amid Broad Market Uptick
Month: July 2024
Binance analysts says ‘worst likely behind’ as Bitcoin trades near $65k
Analysts at Binance Research say they remain “optimistic” about the market’s outlook, expecting upcoming catalysts to position the market “positively for the rest of the year.” The crypto industry may have already seen the worst of this year, according to Binance Research analysts, who said in a Friday report the “incremental negative impact” might be limited as Bitcoin (BTC) regained its positions lost during the harsh June. The analysts admitted that it has become “increasingly difficult to make profits in the current market environment,” referring to negative returns from newly…
Indian Crypto Exchange WazirX Files Police Complaint After $230M Hack, Engages With Cyber Crimes Unit
WazirX, which is registered with FIU-India, which falls under the Finance Ministry, has sent the body an incident report. However, the FIU is mandated with monitoring transactions under the nation’s Prevention of Money Laundering Act (PMLA). Given the WazirX incident is a security breach, the incident does not fall under the FIU’s ambit. The FIU declined an in-person request to comment. Source
HTX Is Latest Exchange to Integrate Fireblocks
Global crypto exchange HTX has integrated Fireblocks Off Exchange. This is aimed at enhancing digital asset security and streamlining global compliance operations. It employs Fireblocks’ multi-party computation (MPC) technology to mitigate exchange counterparty risk, marking a substantial step in risk mitigation for over-the-counter transactions in the cryptocurrency market. The collaboration is expected to improve the […] Source
Mass Exodus: Over 672,000 Bitcoin Holders Drop Out Amid Market Shifts
As Santiment analytics disclose an accelerating decline in wallets holding one or more Bitcoin, the cryptocurrency industry has gone abuzz. Crucial for gauging mood in the market, this indicator has been progressively dropping as traders become less optimistic that Bitcoin may rise beyond its historic high of $73,750, which it last touched on March 14. The general feeling in the market is that people don’t think Bitcoin will reach a new all-time high this year. Related Reading Largely due to “fear, uncertainty, and doubt” (FUD), smaller investors of the asset…
Bitcoin Trades at $64K as Biden Withdrawal Likelihood Increases
Bitcoin traded either side of $64,000 following a retreat from $65,000 on Thursday. The increasing likelihood of Joe Biden withdrawing from the race for U.S. president has taken some of the wind out of BTC’s sails after it briefly regained $66,000 earlier this week. With a second term in the White House for Donald Trump considered the far more beneficial outcome for the crypto industry, BTC was buoyed by Biden’s poor performance thus far in the campaign coupled with the assassination attempt on the Republican nominee. The possibility of a…
Kraken expanding institutional crypto services to the UK and Australia
Kraken Institutional, part of the crypto exchange Kraken, has announced the expansion of its custody services to the United Kingdom and Australia. Kraken Institutional works with high-profile clients like hedge funds and exchange-traded fund issuers, providing custody solutions for managing crypto assets. These solutions are essentially storage services designed to securely store and manage digital assets on behalf of institutions. The custody service offered by Kraken Financial, a US state-chartered bank, allows institutional clients to securely store and transfer their crypto assets. It exists separately from the exchange. Funds are…
South African Exchange Luno Leverages Fireblocks’ Enterprise-Grade Digital Asset Platform
South African crypto exchange Luno has announced that it is integrating its platform with Fireblock’s enterprise-grade digital asset transfer platform. Aleks Andjelopolj suggested that leveraging Fireblocks means Luno users will experience the same immediate transaction settlement enjoyed by customers of the same bank. The Allure of Fireblocks Integration The South African cryptocurrency trading platform Luno […] Source
Bybit’s USDT reserves soar by 18% as BTC shows signs of local bottom
Cryptocurrency exchange Bybit has released the twelfth proof of reserve, featuring a 17.8% increase in USDT holdings. Crypto investors are showing an increased appetite for stablecoins as the Bybit crypto exchange revealed in its latest proof of reserve nearly an 18% increase of customers’ holdings in Tether (USDT). According to the exchange’s report, users’ USDT balances grew by 433 million USDT as of Jul. 10, marking a 17.8% rise from Jun. 6. The report also noted a dramatic increase in Circle’s USD Coin (USDC), with deposits surging by over 150…
Solana Price Could Eclipse $1,400 As Massive Bull Flag Emerges
The Solana price has surged over 33% in the past two weeks, and according to crypto analyst Ali Martinez (@ali_charts), this could be the precursor to a much larger rally. In the weekly chart (SOL/USD), the Solana price exhibits a major bullish pattern, suggesting a potential surge beyond the $1,400 mark. Is $1,400 Next For Solana? Martinez highlighted a “bull flag” formation, a classic continuation pattern in technical analysis that could signify a significant upward movement in Solana’s value in the upcoming months. “The bull flag nobody is talking about!”…