Day: August 31, 2024

Ethereum (ETH) Struggles To Break Past $2,600: What’s Driving ETH Down?

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Ethereum (ETH) has been trading within a daily range between $2,300 and $2,800 since the start of August. Over the past three days, the price has struggled to break past the $2,600 mark, raising concerns among analysts and investors.  Related Reading This performance has led to disappointment, particularly when compared to Bitcoin’s stronger showing this year. Critical data from Farside Investors reveals decreasing interest in Ethereum ETFs, which has added to the cautious sentiment surrounding ETH. This decline in interest may indicate broader concerns about Ethereum’s future performance.  As ETH…

Trump’s crypto embrace is winning him votes, poll shows

A recent Fairleigh Dickinson University poll found that former President Donald Trump’s outreach to crypto owners is paying off this 2024 U.S. Presidential election season. It appears Trump’s embrace of cryptocurrency is paying off. The FDU poll revealed that Trump holds a significant lead among voters who own crypto or related assets, outpacing Vice President Kamala Harris by 12 percentage points in the 2024 U.S. Presidential race.  The poll shows that 50% of likely voters who own crypto backed Trump, compared to 38% who support Harris. Conversely, among non-crypto owners,…

Nigeria Approves Two Crypto Exchanges, Warns Against Patronizing ‘Illegal Operators’

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The Nigerian Securities and Exchange Commission (SEC) has granted “approval-in-principle” to Busha Digital and Quidax Technologies, the first digital asset exchanges to operate in the country. Additionally, four digital asset offering platforms and one custodian have been admitted to the regulatory incubation program to test their technology. The SEC has cautioned the Nigerian public to […] Source

How Will The US Upcoming Fed Rate Cut Impact Bitcoin? QCP Analysts Weigh In

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As the United States Federal rate cut is fast approaching, analysts at QCP Capital, a global digital asset trading firm and market maker has now shared their prediction on how this development could impact Bitcoin price. According to the analysts, the upcoming U.S. non-farm payroll report and Friday’s GDP data will play crucial roles in shaping Bitcoin market sentiment. Notably, these economic indicators are expected to offer greater clarity on whether the Federal Reserve will commence a rate-cutting cycle in its next Federal Open Market Committee (FOMC) meeting on September…

A U.S. Crypto Bill’s 2024 Chances

The crypto industry has been begging for issue-specific legislation in the U.S. for years, in the hopes that this legislation may create clear permissions for companies to develop and issue tokens, manage blockchain networks or otherwise operate free of the concern that regulators may come knocking. The closest Congress has gotten so far is the Financial Innovation and Technology for the 21st Century Act, a House bill supported by Financial Services Committee Chair Patrick McHenry (R-N.C.). With a limited number of working days left in the year, the chances for…

Bitcoin Continues To Exit Exchanges As Supply Drops To New 2024 Low

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On-chain data shows the Bitcoin supply sitting on exchanges has reached a new low for the year as investors continue to withdraw their coins. Bitcoin Exchange Reserve Has Been Riding A Downtrend Recently As explained by an analyst in a CryptoQuant Quicktake post, the BTC Exchange Reserve has continued its drawdown recently. The “Exchange Reserve” here refers to an indicator that keeps track of the total amount of Bitcoin that’s currently sitting in the wallets of all centralized exchanges. When the value of this metric goes up, it means the…