In previous cycles, “liquidity conditions” were the main setback to price momentum, but that doesn’t appear to be the case anymore. Still, these support drivers are “likely to meet some important macro and technical headwinds in the weeks ahead,” the authors wrote. Source
ARK Invest aims to have no individual holding surpass a 10% weighting of an ETF’s value, making such large sell offs necessary when an asset surges in value. Source
Since the beginning of the last quarter of 2023, artificial intelligence (AI)-related crypto tokens have not only outperformed the top two crypto assets but have also outpaced key AI stocks such as Nvidia and Microsoft. According to a report by Coinbase, much of this market-beating performance of AI-related tokens can be attributed to AI headline […] Source CryptoX Portal
The stock price of Coinbase has surpassed its initial direct listing price for the first time in over two years, as Bitcoin reached a new all-time high. When the most prominent U.S. crypto exchange entered the public market through a direct listing in 2021, the starting price was $250 per share. Initially, the stock experienced a surge, reaching a peak of $350 per share in November 2021. However, it concluded its first year on the market with a 38% loss. The following years saw Coinbase’s shares struggle as the cryptocurrency…
In their report, “Crypto’s AI Mirage,” Coinbase Research has issued a nuanced examination of the intersection between artificial intelligence (AI) and crypto, revealing a landscape fraught with overvaluation and speculative fervor. David Han, an Institutional Research Analyst at Coinbase, spearheads this analysis, providing a critical lens through which the future of AI crypto tokens is scrutinized. AI Crypto Tokens Lack ‘Persistent Demand Drivers’ At the heart of the report is the assertion that the crypto-AI domain, despite its rapid expansion and the enthrallment it enjoys from investors and the public…
The report, which cites documents from the Securities and Exchange Commission (SEC) of Nigeria, follows headlines from February that Nigeria’s government had blocked local access to several crypto platforms, including Binance, Kraken and Coinbase. Coinbase said at the time that it remained accessible and did not immediately respond to a CoinDesk request for comment on the current status. Source
A federal judge ruled that secondary-market transactions for certain cryptocurrencies violated securities law. The catch: This was a default judgment. The defendant never showed up, and no one filed amicus briefs to oppose the Securities and Exchange Commission’s motion for a default ruling. Source
Coinbase’s legal team has approached U.S. District Judge Katherine Failla with a request to overlook a prior judgment that defined secondary sales of crypto assets as securities transactions. The plea, part of Coinbase’s ongoing legal dispute with the U.S. Securities and Exchange Commission (SEC), was highlighted in a letter dated March 5. Michael Savitt, representing Coinbase, contended that the SEC’s prior classification of crypto sales in the secondary market as securities contracts, particularly noted in the SEC vs Wahi case, lacks substantial grounding since it was never thoroughly vetted in…
BTC momentarily plunged to €48,529 from €60,000 on Coinbase, while on Kraken, for instance, the price only went as low as €58,400. The reason for the flash crash remains unclear and it took 10 minutes for the price to rebound back to parity with other exchanges. Original
The tokens have logged over $1.7 billion in volumes on the regulated exchange in the past 24 hours, the most among counterparts. Source