Category: CryptoX News

SEC Launched Formal Investigation Into Ethereum’s Security Status Over a Year Ago, New Court Filing Shows

A new court filing claims that the U.S. Securities and Exchange Commission (SEC), led by Chair Gary Gensler, initiated a formal investigation into ethereum’s potential classification as a security more than a year ago. SEC Enforcement Division Director Gurbir Grewal approved a formal investigative order in March last year to scrutinize potential securities transactions involving […] Source CryptoX Portal

This Bitcoin Metric Foreshadowed Recent Price Drops, Quant Reveals

A quant has pointed out how a Bitcoin metric may have detected selling pressure in the market, and therefore, the subsequent price drops, in advance. Bitcoin CDD Registered Spikes Before Recent Price Plunges In a new post on X, an analyst has discussed about how the Coin Days Destroyed (CDD) on-chain indicator may be used to identify selling pressure in the market early. A “coin day” refers to the quantity that 1 BTC accumulates after staying still on the blockchain for 1 day. When a token stays dormant for a…

GBTC Reserves Dip Below 300,000 BTC Amidst 3 Weeks of Crypto Fund Outflows

Grayscale’s Bitcoin Trust (GBTC) has witnessed a significant reduction in assets under management, with the trust’s holdings now falling below the 300,000 BTC mark, a key milestone. Additionally, the latest report on digital asset fund flows from Coinshares shows that bitcoin and ether exchange-traded products (ETPs) have seen withdrawals for three consecutive weeks. Heavy Withdrawals […] Source CryptoX Portal

Crypto investment outflows reach 3-week streak with $435m

As Bitcoin fell more than 5% last week, crypto investors continued capital withdrawals from virtual asset vehicles like spot exchange-traded funds.  According to CoinShares, outflows from digital asset investment products amounted to $435 million, coinciding with a 6% drop in ETF trading volume. Activity reduced from over $18 billion two weeks ago to $11.8 billion last week.  Bitcoin (BTC) and Ethereum (ETH) comprised the lion’s share of exits, with $423 million and $38 million, respectively. The bulk of this pattern, primarily found in BTC, was recorded in the U.S. and…

Ethereum Technical Analysis: ETH’s Consolidation Phase Highlights Potential Downward Trajectory

As ethereum continues its price fluctuations, technical indicators on the 1-hour, 4-hour, and daily charts suggest a bearish outlook with mixed trading signals. Despite some bullish undercurrents, the predominant sentiment remains cautious. Ethereum Ethereum’s (ETH) price action has shown a downward trend on the 1-hour chart, marked by a series of lower highs and lower […] Source CryptoX Portal

Solana, Arbitrum, and Milei Moneda show maximum bull run gains

Disclosure: This article does not represent investment advice. The content and materials featured on this page are for educational purposes only. Market experts forecast significant gains for Solana ($435.99), Arbitrum ($5.38), and Milei Moneda as lucrative investments for 2024’s bull market. Solana (SOL) rebounds as the meme coin market receives a boost. Meanwhile, Arbitrum (ARB) attempts to reverse its losses after losing 38% of its value over the past year. On the other hand, experts tip Milei Moneda (MEDA) to be a leading meme coin in the upcoming bull run. …

Legendary Trader Predicts When Bitcoin’s Bull Run Will End

In a recent analysis, veteran trader Peter Brandt delved into the price behavior of Bitcoin, suggesting that the cryptocurrency might have reached its peak for the current cycle. According to Brandt, Bitcoin is exhibiting signs of “Exponential Decay,” indicating a weakening in the momentum of its bull market cycles over the years. “Does history make a case that Bitcoin has topped? It’s called Exponential Decay — and it describes Bitcoin,” Brandt wrote. He further explained, “The fact is that the bull market cycles in Bitcoin have lost a tremendous amount…

Crypto policies won’t be affected by South African elections, insiders say

According to industry insiders, the upcoming South African elections on May 29 will not affect the nation’s cryptocurrency agenda. According to Mpumelelo Ndamane, CEO of South Africa-based crypto wallet provider Nuud Money, the elections will steer clear of cryptocurrencies.  “We’ve been pretty stable over the past 30 years when it comes to ensuring the [South African Reserve Bank] and FSCA are independent of politics. It won’t affect the crypto policy.”  Meanwhile, according to John McCarthy, general counsel for global regulatory affairs at Fireblocks, most of the development around the digital asset sector…

Yuga Labs Resumes Layoffs; CEO Says Web3 Platform ‘Lost Its Way’

According to Greg Solano, co-founder of Yuga Labs, the Web3 platform has laid off additional workers partly because it had “lost its way.” Solano also encouraged employees uninterested in the next phase to consider accepting the same severance package offered to those affected by the layoffs. Convoluted Corporate Processes Yuga Labs, the Web3 platform behind […] Source CryptoX Portal

Latam Insights: Venezuela to Leverage USDT for Sidestepping Sanctions, Chivo Wallet Disregards Hacking Allegations

Welcome to Latam Insights, a compendium of Latin America’s most relevant crypto and economic news during the last week. In this issue: Venezuelan oil company PDVSA could use USDT to sidestep U.S. sanctions, Chivo Wallet denies hacking allegations, and Nubank expands its crypto functionality in Brazil. Venezuela Might Use USDT for Sidestepping Sanctions Venezuela is […] Source CryptoX Portal