Month: August 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…

Blockchain Poised to Modernize Payment Solutions

James Ding Aug 30, 2024 22:54 Blockchain technology is set to revolutionize the payment industry by offering faster, cheaper, and more efficient solutions for cross-border transactions, according to BinanceResearch. Blockchain technology is set to revolutionize the payment industry by offering faster, cheaper, and more efficient solutions for cross-border transactions, according to BinanceResearch. Outdated Infrastructure The current payments industry, despite its size and rapid growth, relies heavily on outdated infrastructure that has been in place for over 50 years. Modern fintech companies and…

Robot Ventures raises $75m for early-stage crypto fund

Robot Ventures, an early-stage venture capital investor focused on projects in the cryptocurrency space, has raised $75 million for a new crypto fund. The fund is the U.S.-based crypto VC firm’s fourth fund, Bloomberg reported on Aug. 30. Robot Ventures, whose portfolio include Lido Finance (LDO), Optimism (OP) and LayerZero (ZRO), attracted industry heavyweights for the fund. These include TrueBridge Capital Partners and Andreessen Horowitz, the latter being among the top investors in crypto projects. Fund bigger than previous ones The $75 million fund is nearly three times bigger compared…

Bitso Report Shows Argentines Leading Stablecoin Adoption in Latam

A recent report by Bitso, one of the largest crypto exchanges in Latin America, found that Argentines were especially inclined to use and purchase stablecoins over other cryptocurrencies. Six out of every ten cryptocurrency purchases in Argentina involved stablecoins during Q1 and Q2, as these are used as a hedge against inflation and devaluation. Bitso: […] Source BitcoincryptoexchangeExchanges CryptoX Portal

Analysts Say Now Is the Time to Re-Accumulate Bitcoin—Here’s Why

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Bitcoin (BTC), after briefly reclaiming the $61,000 price mark yesterday has now fallen below it continuing its bearishness as of today. Amid this negative price action, the asset’s hash price, a key metric reflecting miners’ profitability, has reached historically low levels. According to a recent analysis by Woominkyu, a CryptoQuant analyst, this significant drop in hash price might signal a prime buying opportunity for investors. Understanding The Hash Price And Its Relation To Buying Opportunity Woominkyu revealed in his analysis that the hash price, which measures the relationship between Bitcoin’s…