Category: CryptoX News

Solana price rises 12% as new SOL presale attracts investor attention

Disclosure: This article does not represent investment advice. The content and materials featured on this page are for educational purposes only. Solana continues to bolster its claim as the most bullish cryptocurrency during the current bull cycle.  After a sharp decline in April, the Solana price has bounced back up in May. It has rallied 12% from its recent low of $119 and is currently trading at $138 at press time.  Solana’s performance is even more impressive when comparing it to other large-cap cryptocurrencies. According to TradingView, the SOL/BTC trading…

Over 650K Wallet Addresses Still Profitable Amid Recent Price Drop

Shiba Inu (SHIB) has demonstrated resilience despite recent market downturns. Data reveals that roughly over 700 trillion SHIB tokens held by more than 650,000 wallet addresses remain profitable, reflecting steadfast confidence among holders in the token’s long-term value. Shiba Inu Market Resilience Amid Volatility Recent on-chain analytics have uncovered an interesting trend among Shiba Inu investors. Despite a general dip in SHIB’s market price, investors continue to hold a substantial volume of tokens—totaling 733 trillion—showing unrealized gains. These holdings, maintained by approximately 653,530 individual wallets, were acquired at prices ranging…

Arthur Hayes foresees market bottom, predicts gradual uptrend

Bitcoin billionaire and former BitMEX CEO Arthur Hayes shared a mix of cautious optimism and strategic moves for Bitcoin following a weekly decline. Hayes’s insights emerge as weekly red candles appear on multiple cryptocurrency charts. These candles reflect the market’s downturn earlier this week, which he believes could be the bottom. “While I don’t expect crypto to fully realize the recent U.S. monetary announcements’ inflationary nature immediately, I expect prices to bottom, chop, and begin a slow grind higher,” Hayes stated in a recent blog post. This perspective comes at…

Ethereum, altcoins are unregistered crypto securities 

Bitcoin maxi Michael Saylor opined that several crypto altcoins, like Ethereum and Ripple, will not achieve institutional acceptance this decade.  MicroStrategy Executive Chairman Michael Saylor told attendees of the annual Bitcoin (BTC) For Corporations event that Wall Street regulators view “everything down the stack” as unregistered crypto asset securities.  “You could see the writing on the wall when the spot ETF of Bitcoin was approved in January. By the end of May, you’ll know that Ethereum is not going to be approved, and when Ethereum is not approved this summer,…

Report Reveals Hundreds of US Banks at Risk of Failure Amid High Interest Rate Environment

Following the dramatic bank failures last year and the recent collapse of Philadelphia’s Republic First Bank last week, an analysis by Klaros Group indicates that hundreds of U.S. banks are at risk of failure. The study reveals that smaller and regional banks are experiencing stress due to burdensome commercial real estate loans and the current […] Source CryptoX Portal

Friend.tech’s FRIEND Token Airdrop Faces Steep Decline Since Market Debut

Friend.tech, the decentralized social media application on the Base network, recently launched its native token through an airdrop. Since trading commenced, the token has plummeted, dropping anywhere from 50% to 90% of its initial value across various decentralized exchange (dex) platforms, as reported by several different price aggregation websites. FRIEND Starts Strong but Value Plummets […] Source BitcoincryptoexchangeExchanges CryptoX Portal

Spot Bitcoin ETFs Sees 7th Consecutive Day of Outflow Streak

CoinspeakerSpot Bitcoin ETFs Sees 7th Consecutive Day of Outflow Streak Bitcoin exchange-trade­d funds (ETFs) in the United States face­d a modest net outflow of $34.4 million on Thursday, May 2nd, 2024. This outflow is significantly lower compare­d to the record-breaking $563.7 million outflow obse­rved on the previous day.  While the slowdown offe­rs some hope, it’s crucial to maintain perspective. Grayscale’s GBTC, the longest-standing Bitcoin fund, had outflows of $55 million on Thursday. This shows the ongoing trend of withdrawals from GBTC, which has been a point of concern for investors.…