Solana network volumes more than doubled to over $3.3 billion from Monday’s $1.5 billion, banking in fees of at least $750,000 per day, DefiLlama data shows. Fees generated by Pump, a popular platform used to issue new memecoins on Solana, increased to $535,000 in the past 24 hours compared to under $300,000 on Monday – indicative of higher risk-on activity among traders. Source
Bitcoin may be experiencing a price recovery towards the $57,000 level after a sharp 20% drop on Monday that sent the largest cryptocurrency on the market to a low of $49,000 not seen since February. Still, BTC is not out of the woods yet, as a concerning pattern has emerged on its 10-day chart. Analysts Spot Bearish Signals According to technical analyst Ali Martinez, Bitcoin is forming a rising wedge pattern, a bearish continuation pattern often linked to further downtrends. While BTC may climb as high as $57,000 at the…
Bitcoin has been moving close to the $57,000 mark as the market-wide fear cools down, but a huge number of addresses are still at a loss. Bitcoin (BTC) quickly recovered from the $50,000 mark on Aug. 5 as the uncertainty around geopolitical and recession tension slowly cooled down. The leading cryptocurrency briefly touched a local high of $57,220 earlier today and has been consolidating between $55,000 and $57,000 over the past 24 hours. BTC price – Aug. 7 | Source: crypto.news BTC gained 1.7% in the past 24 hours and…
Solana-based meme coin dogwifhat has jumped 20% over the last day as Bitcoin recovered back to $57,000 levels. At the time of writing, dogwifhat (WIF) was still up 18%, trading at $1.71 per price data from CoinGecko. The crypto asset’s daily trading volume was hovering around $935 million while its market cap had risen to $1.69 billion. WIF 24-hour price chat – Aug. 7 | Source: crypto.news Following the latest price increase, the dog-themed meme coin has taken 49th place among the cryptocurrencies by market cap. However, WIF is still…
Bitcoin whales are on a buying spree, accumulating $23 billion worth of BTC in just 30 days. Bitcoin (BTC) has experienced a notable shift in market dynamics over the past month, with whales—large-scale holders of the cryptocurrency—accumulating significant amounts of BTC. According to on-chain data, nearly 404,448 BTC, worth approximately $23 billion, have moved into “permanent holder addresses,” signaling a clear accumulation phase. This trend has been observed amid global market uncertainties and fears of further declines. Ki Young Ju, the founder and CEO of CryptoQuant, highlighted this phenomenon in…
Despite clearly articulating reasons for de-dollarization in the Global South, African leaders will struggle to convince residents to embrace national currencies without changing economic management practices. People often lose confidence in a currency when a central bank excessively prints money to pay debts and other obligations. De-Dollarization Hype Not Backed by Practical Action Sometime in […] Source CryptoX Portal
The ominous-sounding technical price pattern could again trap bears on the wrong side of the market as the Bank of Japan plays down chance of a near-term interest rate hike. Source
Lubbock police in Texas have reported a notable increase in bitcoin-related scams, with victims losing significant amounts of money. Over the last few months, 20 to 30 individuals have come forward to report scams involving gift cards and bitcoin transactions. Scammers typically target the elderly, claiming their accounts have been compromised and require verification. Victims […] Original
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…
Binance, crypto’s largest centralized exchange, saw $1.2 billion in net inflows as digital asset investors capitalized on a massive market drop caused by an unwinding yen carry trade. Bitcoin’s (BTC) rebound and a bounce in the broader cryptocurrency market spiked trading activity on CEX platforms like Binance in the last 24 hours. Binance CEO Richard Teng, citing DefiLlama data, said the crypto exchange recorded its highest single-day trading volume since the beginning of the year. Amid the macroeconomic climate and yesterday’s market downturn, #Binance recorded a net inflow of US$1.2…