Day: August 14, 2024

Bigger Risks More Returns: Ethereum’s Volatility Surpasses Bitcoin’s by 50%, Data Shows

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Despite Bitcoin (BTC) and Ethereum (ETH) still struggling to reclaim their all-time highs, there appears to be a distinct fact amongst both assets now, as shown in the latest data. Particularly, according to Matrixport’s recent report, Ethereum is now displaying greater price fluctuations compared to Bitcoin in the past weeks. Ethereum’s Volatile Outpacing Bitcoin’s Volatility measures the price variations of an asset over time, with higher volatility indicating more significant price changes. According to data from Matrixport, the 30-day realized volatility spread between ETH and Bitcoin typically ranges from 1.0…

Police Warn of Bitcoin Scammers Posing as Bank Representatives

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The Carroll County Sheriff’s Office in the U.S. state of Georgia has issued a warning about a cryptocurrency scam. Scammers are posing as representatives of financial institutions, informing individuals that their accounts have been compromised. They then instruct victims to withdraw funds from their accounts and deposit them into bitcoin ATMs. The sheriff’s office emphasizes […] Original

Coinbase Promotes cbBTC, Version of BitGo’s Wrapped Bitcoin (WBTC), for Base Blockchain

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Wrapping a crypto token is a way of making it available on protocols other than the one it was originally designed for, bringing increased liquidity to the target ecosystem. Each wrapped bitcoin represents one of the original, which is stored in custody. When a trader wants to redeem the wrapped token for bitcoin, the wrapped version is “burnt,” or deleted from the chain, and the original is released. Original

Bitcoin Scam Targets US County Residents With Fake Warrants

A scam email targeting residents of Montgomery County, Pennsylvania, is falsely soliciting Bitcoin payments to resolve supposed arrest warrants. The fraudulent emails claim to be from authorities like the “FDIC government office warrant division” and include misleading subject lines such as “Montgomery County Sheriff office false claims division.” These emails contain fake documents, including a […] Source CryptoX Portal

Spot Bitcoin and Ethereum ETFs record second day of joint inflows streak

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Spot Bitcoin and Ethereum exchange-traded funds in the United States continue their streak with a second consecutive day of positive inflows this week. According to data from SoSoValue, the 12 spot Bitcoin ETFs recorded a total inflow of $38.94 million on Aug. 13, representing a nearly 40% increase from the $27.87 million recorded the previous day. BlackRock’s IBIT fund led with $34.6 million in inflows, bringing its total since launch to $20.36 billion. It was the only Bitcoin ETF to see inflows for two consecutive days. Other notable inflows included…

MKR Jumps 5% As Grayscale Adds MakerDAO To Its Crypto Fund Lineup

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To further diversify its crypto investment portfolio, asset manager and ETF issuer Grayscale has unveiled the launch of the Grayscale MakerDAO Trust. This latest addition to Grayscale’s product suite allows investors to gain exposure to MKR, the utility and governance token underpinning the Ethereum-based MakerDAO ecosystem. Grayscale Expands Crypto Portfolio MakerDAO is an autonomous organization operating a decentralized finance (DeFi) protocol, providing users access to a permissionless, open stablecoin system and various other on-chain financial services.  According to Tuesday’s announcement by the firm, through the Grayscale MakerDAO Trust, investors can…

$2.3 Billion in Dollar, Euro Bills Shipped to Russia Despite Ban

Despite Western restrictions imposed after Russia invaded Ukraine, billions of dollars and euros in banknotes have flowed into the country. This suggests that Russia has found ways to circumvent these restrictions. Despite official efforts to reduce reliance on foreign currency, Russian citizens still prefer dollars and euros. Russia Successfully Skirts Western Sanctions Dollar and euro […] Source CryptoX Portal

Coinbase teases new wrapped Bitcoin product amid ongoing WBTC controversy

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Coinbase has set the crypto community abuzz with speculation following a cryptic hint about a potential new wrapped Bitcoin product, tentatively called “cbBTC.” The news came courtesy of an Aug. 14 post on Coinbase’s official X account which simply stated “cbBTC,” followed by a “coming soon” comment. Jesse Pollak, head of Coinbase’s layer-2 network Base, added speculation to the fire stating in a subsequent post expressing his enthusiasm for Bitcoin (BTC) via a hint to build a “massive Bitcoin economy” on the L2 network. to say it out loud: I…

Australia’s Securities Regulator Sues ASX for Misleading Statements About Blockchain Project

Australia’s Securities and Investment Commission (ASIC) has sued the country’s largest market operator, ASX Limited, for allegedly making misleading statements about how its blockchain project to replace its aged Clearing House Electronic Subregister System (CHESS) was progressing, before revealing that it had cancelled the project, the regulator announced on Wednesday. Source

Have Bitcoin (BTC) Prices Bottomed? Miner Capitulation Data Indicates Major Selling Pressure is Done

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