Month: September 2024

What Does This Mean BTC?

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Este artículo también está disponible en español. The Bitcoin derivatives market has reached a notable milestone, as the estimated leverage ratio for the asset has surged to its highest level of the year, latest data from CryptoQuant shows. This metric, which tracks the ratio of open interest to coin reserves on exchanges, signals increased leverage use among market participants. The growing trend suggests that investors are taking on more risk by “employing higher leverage,” which could significantly impact Bitcoin’s price. Related Reading The Impact Of High Leverage On Bitcoin’s Market…

Spot Bitcoin and Ethereum ETFs log joint negative flows

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Spot Bitcoin and Ethereum exchange-traded funds in the United States experienced joint outflows on Sept. 11 following the joint positive flows recorded the previous day. According to data from SoSoValue, the 12 spot Bitcoin ETFs in the U.S. logged a net outflow of $43.97 million on Sept. 11, ending their two-day streak of positive flows. Interestingly, ARK 21Shares’ ARKB recorded the largest outflows among the ETFs yesterday, with $54 million in withdrawals, as reported by SoSoValue. Grayscale’s GBTC followed with net outflows amounting to $4.6 million, while its Bitcoin Mini…

Indian Police Investigate Cryptocurrency Fraud Targeting Ex-Servicemen

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Three former servicemen in India have lodged a complaint with the Chandannagar police, Pune, accusing eight officials from a trading firm of defrauding them of over Rs. 79.81 lakh (approximately $96,000) through a cryptocurrency scam since 2022. The ex-servicemen had invested their retirement savings in cryptocurrency, lured by promises of doubling their investment within 20 […] Source

Cardano (ADA) Gains Traction: Is More Upside Ahead?

Cardano price started a decent increase above the $0.340 resistance. ADA is now showing positive signs and might rise further toward $0.380. ADA price started a recovery wave from the $0.3220 level. The price is trading above $0.350 and the 100-hourly simple moving average. There was a break above a key bearish trend line with resistance at $0.3430 on the hourly chart of the ADA/USD pair (data source from Kraken). The pair could continue to move up if it remains stable above the $0.3440 support zone. Cardano Price Starts Steady…

XRP Price Stalls in Range: Will a Breakout Come Soon?

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XRP price is holding gains above the $0.5250 level. The price is now trading in a tight range and might soon attempt a move above the $0.550 resistance. XRP price is eyeing a clear move above the $0.5420 resistance zone. The price is now trading above $0.5330 and the 100-hourly Simple Moving Average. There was a break above a short-term bearish trend line with resistance at $0.5360 on the hourly chart of the XRP/USD pair (data source from Kraken). The pair could gain bullish momentum if it clears the $0.5420…

Analyst Forecasts Gold Prices to Reach $2,950 as American Investors Escape From AI and Stock Market Bubbles

Adam Hamilton, the founder of Zeal Intelligence, a financial consulting company, predicts that gold prices will rise as American investors turn to gold, fleeing from traditional stocks and the burst of the artificial intelligence (AI) bubble. Hamilton explained that gold experienced this price upswing without this main demand factor, stressing that it was a very […] Source CryptoX Portal

Indonesia enters top 3 countries by crypto adoption, replacing Vietnam: Chainalysis

Indonesia has entered Chainalysis’ global crypto adoption index for the first time, climbing into the top 3 as global crypto activity surged past 2021 bull market levels. Indonesia has made its debut in Chainalysis‘ global crypto adoption index, climbing to third position, surpassing Vietnam, as global crypto activity reached levels not seen since the 2021 bull market. Between the last quarter of 2023 and the first quarter of 2024, the total value of global crypto activity increased significantly, outpacing the previous peak, data from Chainalysis shows. The new ranking places…

How Do The Top Memecoins Compare In Investor Profits?

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Este artículo también está disponible en español. Here’s what on-chain data reveals regarding the profitability of the different segments of the Dogecoin, Shiba Inu, and Pepe investors. Dogecoin, Shiba Inu, & Pepe Compared In Terms Of Investor Profits In a new insight post, the on-chain analytics firm Santiment has discussed how the three biggest memecoins in the sector, DOGE, SHIB, and PEPE, have been doing in terms of different indicators. Among these, one of the metrics that the analytics firm has talked about is the Market Value to Realized Value…