Day: August 20, 2024

Top Democratic Donor Leaves Crypto Super PAC

A Democratic mega-donor is leaving a top crypto Super PAC over the group’s plan to defeat a Democratic Senator. Ron Conway told other donors in an email that he disagreed with Fairshake, the best-funded crypto Super PAC, spending $12 million to unseat Senator Sherrod Brown (D-Ohio) in November. The email was first reported by Politico. Conway, a venture capitalist, donated $500,000 to Fairshake in December along with a who’s who of other elite tech figures. He said going after Brown would undermine efforts by Senate Majority Leader Chuck Schumer, a…

Cardano Down 90% Since September 2021, Did Smart Contracts ‘Kill’ ADA?

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At the peak of the 2020 to 2021 bull run, ADA, the native token of Cardano, rose to $3 in August. Interestingly, developers activated smart contracts around the top of this cycle after completing the Alonzo hard fork, ushering in the Goguen phase. Did Alonzo And Smart Contracts Kill ADA? However, as Atomic Wallet analysts note, ADA has been on a downtrend since then, crumbling by over 90% over the years at the time of writing. ADA is changing hands at $0.32 when writing, finding immediate support at around $0.30,…

Analysts reveal bullish case for Bitcoin as global liquidity rises

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The stage looks set for Bitcoin to surpass its previous all-time high, fueled by a surge in global liquidity, several macroeconomic analysts argue. In recent weeks, the global macro financial outlook has been showing signs of a shift. Over the weekend, Goldman Sachs economists announced that they had lowered their estimations of the probability of a U.S. recession in 2025 from 25% to 20%.  This change came after the latest U.S. retail sales and jobless claims data were released, which suggested that the U.S. economy might be in better shape…

Ethereum Sees Major Outflow From Mega Whales

The crypto market has been challenging, and Ethereum (ETH), the second-largest cryptocurrency, is no exception. Despite its dominant position, the token has faced significant headwinds in recent weeks, with its price showing no signs of a sustained recovery. Key Metrics Point To Continued Bearishness According to crypto analyst Ali Martinez, some of the largest Ethereum whales, holding over 10,000 ETH, have been steadily selling their tokens over the past month, with no indication of slowing down.  This mass exodus of large investors has contributed to ETH’s 26% price drop over…