Day: August 9, 2024

Institutional Investor Sends $445 Million USDT To Exchanges, What Are They Buying?

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Institutional investors have already shown how bullish they are on Bitcoin (BTC) and the broader cryptocurrency market, as they have continued to accumulate with USDT, especially during every dip. This bullish sentiment was again on display as this institutional investor sent $445 million USDT to exchanges to buy more crypto.  Cumberland Sends $445 Million USDT To Exchanges The on-chain analytics platform Lookonchain revealed in an X (formerly Twitter) post that crypto trading firm Cumberland has deposited the $445 million it received from the Tether Treasury into different exchanges. Data from…

CoinDesk 20 Index Showed Modest Gain as Bitcoin Price (BTC) Rose 1.5% and Ripple Price (XRP) Plunged 7.8%

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…

Investor Momentum Sparks 21% Rally

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Injective starts the day with a bang as INJ, the platform’s native token gained over 12% in the past 24 hours. This can be attributed to the market’s surprising rally, complemented by a  market cap that is up by over 6% after its dip earlier this week.  Related Reading The rally is also due to Injective’s recent achievements that spur some buzz within and outside their community. Investors might find some value on INJ as it continues to grow and innovate.  Utila Announces Support For Injective Ecosystem Today, the institutional…

Bitcoin Reclaims $62K, Bulls Revisit $100K Target

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…

Blockchain developer to fork BRC-20 to bring defi to Bitcoin

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A blockchain developer is set to fork the BRC-20 token standard to introduce decentralized finance capabilities to the Bitcoin network. A blockchain developer under the alias Mikael.btc, best known as the creator of the BRC-100 token standard, wants to fork BRC-20 in an effort to roll out a new protocol designed to bring decentralized finance to the Bitcoin (BTC) network. In an Aug. 9 post on X, the developer outlined plans for the fork, emphasizing that the upgrade would address key limitations of the BRC-20 standard, including its “lack of…

Bitcoin Price Soars Above $62,000 Again: Top 3 Reasons

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The Bitcoin price records a major rally in recent days. After plummeting to a low of $49,000 on Monday, the BTC price soared as high as $62,700 during the Asian trading session today. Thus, BTC has surged 24% from its Monday low. Over the last 24 hours alone, BTC has risen by 7%. These are the key reasons: #1 Fading US Recession Fears Fuel Bitcoin Rally Macro economics are the clear driver of the price move as equities have rallied along with Bitcoin. Notably, the July unemployment rate in the…

SUI Explodes 30% After Crypto Market Shows Signs Of Life

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Despite the fears that the downtrend will continue, the crypto market resumes its bullish drive upward with the altcoin market showing the most significant gains. SUI is one of those tokens, gaining almost 31% in the past 24 hours as major cryptocurrencies like Bitcoin and Ethereum returned to pre-correction levels.  Related Reading As the market continues to rally, SUI might continue to capture the broader momentum, keeping the bears at bay. This comes after institutional interest hit the Sui platform, which will also help drive the price upward. SUI up…

Bitcoin to retest ATH this year if US avoids recession, Grayscale forecasts

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Bitcoin could potentially retest its all-time high later this year should the U.S. economy avoid a recession, Grayscale Research says. Despite the recent roller-coaster of volatility in the crypto market, analysts at Grayscale Research forecast that prices could climb higher in the coming months. In an Aug. 8 research report, Grayscale analysts suggested that if the U.S. economy achieves a “soft landing” and avoids recession, token valuations could rebound, with Bitcoin (BTC) potentially revisiting its “all-time high later this year.” “Shifts in the U.S. political landscape around the crypto industry…

Bitcoin Nears $60,000 As Putin Signs Law Legalizing Crypto Mining In Russia

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In a significant boost for the largest cryptocurrency on the market, Bitcoin (BTC) has surged nearly 9% in the last 24 hours, inching closer to the coveted $60,000 milestone. This price rally comes after BTC hit a 7-month low of $49,000 earlier this week amid broader market uncertainty. Fueling this crypto resurgence is a significant development in Russia, where President Vladimir Putin has officially signed a law legalizing cryptocurrency mining in the country.  Russia Formalizes Crypto Mining Rules According to a local media report, the new law introduces several legal…