ICO Archives

Crypto Rebounds From Monday’s Chaos

August 6, 2024

Spot ether ETFs saw nearly $49 million of inflows on Monday, even as the ETH price dropped as much as 20%. Ether suffered its biggest single-day drop since 2021, as Jump Crypto moved large amounts of assets to exchanges ahead of potential sales. Professional investors appeared to buy the dip, however, with ETH ETFs trading over $715 million, the highest since July 30. The ETFs remain in the red, however, having recorded net outflows of $460 million since their introduction. Their bitcoin equivalents, in comparison, saw over $1 billion of…

Ronin Bridge Paused After $9M Drained in Apparent Whitehat Hack

August 6, 2024

“The bridge currently secures over $850M which is safe,” co-founder @Psycheout86 said in an X post. Source

Bitcoin's Unreliable Death Cross Is Looming Again

August 6, 2024

The death cross is known to cause catastrophizing among inexperienced investors. But it’s an unreliable indicator. Source

Ethereum ETFs Scored $49M Inflows as ETH Plunged

August 6, 2024

ETH bounced over 18% in the past 24 hours to reverse losses from a steep fall on Monday, with some drawing eyes to the blockchain’s fundamentals. Source

ARK Bought $17.8M of COIN, $11.2M of HOOD as Market Slumped

August 6, 2024

ARK Invest often loads up on shares when their prices slide, usually with a view to offloading them one their prices tick up again. Source

Bitcoin (BTC) Indicators That Offer Light in a Gloomy Market

August 6, 2024

“The U.S. slowdown looks clearly underway, and the Fed, behind the curve, will need to cut more aggressively than previously expected. U.S. [Treasury] yields and the dollar are consequently repricing lower, which is hugely bullish for bitcoin. Further, with China ramping up stimulus and liquidity injections, combined with a weaker dollar, global liquidity conditions are set to accelerate,” the founders of newsletter service LondonCryptoClub said in Monday’s edition. Source

Binance Has Challenged India’s $86M Tax Showcause Notice: Source

August 6, 2024

Binance, the world’s largest cryptocurrency exchange, has “challenged” a nearly $86 million tax showcause notice from India’s Directorate General of Goods and Services Tax Intelligence (DGGI), a person directly involved with the matter told CoinDesk. Source

U.S. SEC Asks NY Court to Deny Coinbase’s ‘Breathtakingly Broad’ Subpoena Request

August 6, 2024

The request for Gensler’s personal communications appears to have been a bridge too far for the SEC, which has described the subpoena as a “blatant impropriety.” In a letter to the court on June 28, the SEC argued that the judge overseeing the case, District Judge Katherine Polk Failla of the Southern District of New York (SDNY), should reject Coinbase’s request. Source

Bitcoin Bounces to $53K After Brutal Sell-Off Reminiscent of Covid Crash

August 5, 2024

Bitcoin’s 30% decline in a week was for some observers reminiscent of the March 2020 crash, but there’s been multiple occasions of similar drawdowns during previous bull markets. Source

Is Bitcoin Still a Store of Value?

August 5, 2024

“It’s still undoubtedly a volatile, in many cases speculative, in many cases levered, in many cases traded asset,” Baehr said. “But its properties hold promise that, over time, its scarcity, its portability, and its lack of attachment to any government or corporation’s policies make it a really interesting asset to consider as a store of value.” Source