Day: August 17, 2024

Banana Gun token ignores the crypto sell-off, spikes 110%

Banana Gun token price continued its strong rebound on Aug. 17 even as other cryptocurrencies like Bitcoin and Ether retreated.  The banana token rally accelerates The Banana (BANANA) token rose for the second consecutive day, reaching a high of $64.47, its highest level since July 26 and 117% above its lowest level in August. The other top-performing tokens were Neiro (NEIRO) and Synapse (SYN), which rose by over 105% and 40%. Banana Gun’s jump pushed its market cap to over $205 million. It happened in a high-volume environment as the…

Microstrategy’s Bitcoin Holdings Catch Up to Theoretical Ether Profits Without Staking

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After Michael Saylor, Microstrategy’s executive chairman, disclosed that the company now holds 226,500 BTC valued at $13.4 billion, it turns out the firm’s bitcoin (BTC) holdings have gained 61% profit. Interestingly, while blockchaincenter.net’s ‘There Is No Second Best’ index once hinted that investing in ethereum might have been a wiser choice for Microstrategy, the gap […] Original

Solana $260 Target Beckons As Price Nears All-Time Highs

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Recently, a significant amount of interest—both positive and negative—has been placed on Solana. Experts are highly optimistic about SOL, and crypto analyst Alan Santana once showed his doubt over the token by stating that it might be due for a heavy fall. Related Reading Divergent View On The Stability Of Solana Solana has been impressive regarding the stability within this wild market. A crypto expert named Jelle has echoed the same notion as he referred to the wonderful chart of SOL and explained how this digital asset could reach $260.…

Spot Bitcoin ETF inflows jumped 223%, crypto market corrects

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Fidelity led the way for the second consecutive day with $61.3 million worth of inflows to its spot Bitcoin ETF — the Fidelity Bitcoin Fund. BlackRock’s IBIT followed with $20.4 million in inflows after a day of inactivity. The increase in activity comes as SoSoValue data shows that 12 U.S.-based spot Bitcoin (BTC) ETFs recorded $36.01 million in inflows on Aug. 16. That’s a 223% increase compared to Aug. 15, when net inflows were $11.11 million. Other notable inflows included $13.4 million into ARK 21Shares’s ARKB, $12 million into Bitwise’s…

Bitcoin Market Facing A Persistent Net Sell-Side Bias, Glassnode Reveals

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Opeyemi is a proficient writer and enthusiast in the exciting and unique cryptocurrency realm. While the digital asset industry was not his first choice, he has remained absolutely drawn since making a foray into the space over two years. Now, Opeyemi takes pride in creating unique pieces unraveling the complexities of blockchain technology and sharing insights on the latest trends in the world of cryptocurrencies. Opeyemi savors his attraction to the crypto market, which explains why he spends the better parts of his day looking through different price charts. “Looking”…

IMF Economists Suggest Electricity Tax to Lower Crypto and AI Environmental Impact

International Monetary Fund (IMF) economists have warned of the environmental impact of crypto mining and AI data centers, which are projected to increase global electricity consumption to 3.5% by 2027, leading to higher carbon emissions. Proposing a targeted electricity tax, the authors estimate a potential reduction in emissions by 100 million tons annually, while generating […] Source CryptoX Portal

Bitcoin Spot-Perpetual Gap Points to Continued Selling Pressure

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Semilore Faleti is a cryptocurrency writer specialized in the field of journalism and content creation. While he started out writing on several subjects, Semilore soon found a knack for cracking down on the complexities and intricacies in the intriguing world of blockchains and cryptocurrency. Semilore is drawn to the efficiency of digital assets in terms of storing, and transferring value. He is a staunch advocate for the adoption of cryptocurrency as he believes it can improve the digitalization and transparency of the existing financial systems. In two years of active…

Dogecoin Addresses Skyrocket To Over 6 Million

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Dogecoin has been a focal point in the cryptocurrency world, and a mix of positive and negative signals is setting its future. On one hand, the number of Dogecoin addresses has been increasing. On the other hand, the recent technical analysis gives less reason for optimism over the short to medium term. What must investors make of this dual narrative? Related Reading Dogecoin Rising Adoption: Silver Lining Data from the latest charts on Crypto Daily Trade Signals reveal that the number of Dogecoin addresses with a balance has grown to…