Day: August 30, 2024

Shiba Inu Burn Rate Skyrockets 13,900% as SHIB Price Eyes Rebound

CoinspeakerShiba Inu Burn Rate Skyrockets 13,900% as SHIB Price Eyes Rebound Shiba Inu (SHIB) has seen a huge spike in its burn rate, suggesting a possible price rebound. According to the Shibburn tracker, the platform that monitors the rate and amount of SHIB burnt, the burn rate has spiked by more than 13,900% in the last 24 hours. As a result, 96,634,993 SHIB tokens have been sent to dead wallets. This notably aligns with the community’s effort to reduce the token’s circulating supply. New Burn Mechanism Facilitate SHIB Burn This…

Washington State Probes Alleged Crypto Fraud Linked to Fake Nasdaq Exchange

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The financial watchdog in Washington State is currently probing a complaint regarding a cryptocurrency platform that allegedly purports to be associated with the Nasdaq Stock Exchange. This inquiry began after an investor reportedly put in $200,000 following a solicitation on Facebook that transitioned to communication over Whatsapp. The regulator has flagged this as a potential […] Source

Crypto Liquidation Data Rigged By Exchanges, Researcher Finds

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Vetle Lunde, a senior analyst at K33 Research, has issued a stark warning regarding the practices of prominent crypto exchanges concerning the authenticity of liquidation data. In a post on X, Lunde outlines how exchanges such as Binance, Bybit, and OKX have systematically modified their data reporting processes in a way that he claims significantly distorts the true scale of market liquidations. Why Crypto Liquidation Data Is Bogus The core of Lunde’s argument revolves around changes implemented by these exchanges around mid-2021. For example, both Binance and Bybit adjusted their…

Fidelity’s FBTC lead $71.73m Bitcoin ETF outflows, Ether ETFs also slide

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Spot Bitcoin exchange-traded funds in the United States experienced their third consecutive day of net outflows, while spot Ethereum ETFs also saw a return to negative flows. According to data from SoSoValue, the 12 spot bitcoin exchange-traded funds recorded $71.73 million in net outflows on Aug. 29, marking the third consecutive day of outflows. FIdelity’s FBTC led the lot, logging $31.1 million in outflows on the day — its highest recorded outflows since Aug. 6. Grayscale’s GBTC continued its outflow streak, with $22.7 million leaving the fund, pushing its total…

Traders Position for Volatility as BTC ETFs See Outflows

“Risk reversals until Oct are still skewed towards puts in both BTC and ETH, indicating that the market remains cautious about the downside,” QCP said. “In the lead-up to next week’s non-farm payroll report, we expect market volatility to continue its downtrend as the market positions itself for potential rate cuts by the Fed.” Source

Bitcoin ‘Must Do This Now’, Says Crypto Analyst

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In a breakdown of Bitcoin’s current market dynamics, prominent crypto analyst Dan Gambardello, in his latest video titled “Bitcoin Must Do This Now,” addressed his 368,000 followers on YouTube regarding the critical resistance levels Bitcoin is currently testing. Gambardello emphasized the importance of these levels for both short-term price movements and broader market indicators. Why Bitcoin Must Turn Bullish Now Gambardello’s analysis begins with an emphasis on the significance of the short-term holder cost basis, which currently stands at $63,600. He highlighted this metric as a pivotal momentum indicator, underscoring…

Market Cap Climbs, Daily Transactions Boom, Revenue Follows

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Hedera (HBAR) emerged as a standout performer in the second quarter (Q2) of the year, reversing the downward trend faced by many projects. The latest report from research firm Messari highlights Hedera’s progress across key financial indicators. Hedera Q2 Momentum One of the pivotal highlights of Hedera’s Q2 was the advancement in crucial financial metrics. Despite a 29% quarter-over-quarter (QoQ) dip in circulating market cap to $2.7 billion, HBAR managed to climb six spots from 36 to 30 among all tokens, surpassing similarly priced cryptocurrencies.  HBAR’s market cap fluctuation in…

Tron Price Survives The Storm: Can TRX Climb Further??

Aayush Jindal, a luminary in the world of financial markets, whose expertise spans over 15 illustrious years in the realms of Forex and cryptocurrency trading. Renowned for his unparalleled proficiency in providing technical analysis, Aayush is a trusted advisor and senior market expert to investors worldwide, guiding them through the intricate landscapes of modern finance with his keen insights and astute chart analysis. From a young age, Aayush exhibited a natural aptitude for deciphering complex systems and unraveling patterns. Fueled by an insatiable curiosity for understanding market dynamics, he embarked…