Day: August 22, 2024

Babylon Bitcoin staking drives BTC fees above $130

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A Bitcoin fee bidding war erupted on Aug. 22 as Babylon debuted phase one of its native BTC staking offering. Early on Thursday, Aug. 22, the average Bitcoin (BTC) transaction fee was under $1. Closer to noon, users had to pay around $132-$137 to transfer BTC after Babylon’s Bitcoin staking program went live.  Babylon’s BTC staking allows users to earn yield by depositing crypto directly on proof-of-stake (PoS) networks. The idea aims to expand BTC utility beyond the “digital gold” narrative, which typically incentivizes holding the asset rather than using…

Bitcoin Could Target $63,000 But Must First Clear This Vital Resistance Level

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After experiencing a significant 25% pullback earlier this month, plunging to the $49,000 level, the king of cryptocurrencies, Bitcoin (BTC), has managed to consolidate above the crucial $60,000 support for the last 24 hours. However, Bitcoin’s journey toward further price appreciation has been without obstacles. The digital asset has been unable to surpass higher resistance levels, which technical analysts deem essential for a retest of the all-time high levels reached in March. What On-Chain Metrics Reveal According to a recent analysis shared on social media platform X (formerly Twitter), technical…

Market Swing Yields 12% Gains For UNI

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With the broader market swing suggesting that most cryptocurrencies are in a bull run, Uniswap has continued its upward trajectory, capturing some of the momentum of the broader market. According to CoinGecko, the token is up nearly 12% since last week despite the market dipping slightly yesterday, August 21st.  Related Reading Uniswap’s position within the crypto community is largely untouched, especially after its recent on-chain development that shows exceptional growth as a market. However, there are some aspects where the platform is seeing some weakness, putting UNI’s position into question…

Why Actively Managed Crypto SMAs Could Outperform ETFs for Institutional Investors: Key Advantages Explained

Unlike ETFs, SMAs give you direct ownership of your assets, which enables greater portfolio customization to meet your specific risk/return needs goals. That is, SMAs can be custom-tailored by your investment manager to meet your unique requirements – risk tolerance, investment horizon, financial goals and more. Direct ownership also facilitates more transparent and straightforward tax management strategies, such as tax-loss harvesting. Finally, SMAs are custody-agnostic, allowing investors to choose from a wide variety of custodians and venues ranging from Anchorage, BitGo, Coinbase and Kraken. Source

Solana Dump Far From Over? Whales Continue To Dump SOL

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The Solana dump looks far from over as whales continue offloading their SOL holdings during this market downtrend. The recent shakeup in the crypto space might have also contributed to these whales’ bearish sentiment towards Solana.  Crypto Whale Offloads $16 Million Worth Of Solana In an X (formerly Twitter) post, the on-chain analytics platform Lookonchain drew the crypto community’s attention to a whale who has sold 114,300 SOL ($16 million) on Binance and OKX since August 4. This whale’s most recent sale came on August 20, when they sold 10,000…

Fanton Secures $1M Seed Investment to Enhance Blockchain Fantasy Football Platform

Zach Anderson Aug 22, 2024 13:42 Fanton Fantasy Football secures $1M in seed funding from Animoca Brands and others to expand its blockchain-based platform integrated with Telegram. Fanton Fantasy Football, a blockchain-based fantasy sports platform seamlessly integrated with Telegram, has successfully closed a significant seed funding round, securing $1 million. According to GlobeNewswire, the round saw participation from notable investors such as Animoca Brands, Delphi Ventures, HashKey x TON Accelerator, and Kenetic Capital. Rapid Growth and Strategic Momentum Fanton Fantasy Football has…

Bitcoin Price (BTC) Fell 0.1% While Ether Price (ETH) Dropped 0.3%

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