U.S. authorities have arrested and charged a Taiwanese national with operating darknet drug bazaar Incognito Market, which he allegedly used to facilitate over $100 million in crypto-denominated sales of illegal narcotics including fentanyl. Source
Plus: Which cat-themed meme coin will hit $1 billion first? Source
Bitcoin price extended its increase above the $67,500 resistance. BTC tested the $68,000 resistance and is currently correcting gains. Bitcoin started a downside correction after it climbed toward the $68,000 resistance zone. The price is trading below $67,000 and the 100 hourly Simple moving average. There was a break below a connecting bullish trend line with support at $65,900 on the hourly chart of the BTC/USD pair (data feed from Kraken). The pair could start another increase unless the bears push it below $65,900. Bitcoin Price Starts Downside Correction Bitcoin…
Ten days ago, the FTX estate overseeing the bankrupt company’s proceedings informed customers they would receive more than 100% repayment. Following this announcement, the exchange token FTT from the defunct trading platform rose above $2 per unit. Astonishingly, despite being tied to a failed crypto exchange, this token still holds a market valuation of $535 […] Source CryptoX Portal
The market capitalization of meme coins increased by 8% and hit $58 billion. According to CoinGecko, meme coins are popular among investors and traders. The meme coin segment has outpaced the overall crypto asset market in growth over the past 24 hours. The crypto industry’s total market capitalization increased by 5.5%, while Bitcoin (BTC) showed an increase of 6%. The five largest meme coins by capital account for 77% of the total value of this asset class. At the same time, only three dozen coins by market capitalization exceed the…
Recent data from Santiment indicates a noticeable decrease in Bitcoin whale activity, reaching the lowest levels seen in 2024. This trend shows that holders of large amounts of Bitcoin, known as whales, are drifting away from active trading. While this could signal a negative trend, the situation presents a complex picture of the cryptocurrency’s market dynamics. Despite the fall in whale activity, the total number of Bitcoin wallets with at least 100 BTC remains high, at 11.79 million BTC across 15,907 wallets. Bitcoin Whale transactions trend. | Source: Santiment Historically,…
Over the past 18 days, 27 distinct liquid staking derivatives (LSD) protocols have experienced withdrawals amounting to approximately 50,000 ether, valued at $146.72 million. The most significant reductions occurred in the LSDs Swell and Mantle, with Swell’s ether holdings decreasing by 23,078 ether since April 28, 2024. LSD Protocol Reductions Continue Despite Minor Gains for […] Source CryptoX Portal
CoinDesk 20 tracks top digital assets and is investible on multiple platforms. The broader CMI comprises approximately 180 tokens and seven crypto sectors: currency, smart contract platforms, DeFi, culture & entertainment, computing, and digitization. Source
Bank of America said it was upgrading the stock for a number of reasons, including the positive macro backdrop that has helped the cryptocurrency markets and trading volumes, analysts led by Mark McLaughlin wrote. The note also said the exchange’s expense discipline and increased diversification should also help its earnings. Source
HodlX Guest Post Submit Your Post In the high-stakes world of cryptocurrency, market sentiment often swings wildly, driven by speculation and the whims of influential voices. Unlike traditional financial markets, crypto values can skyrocket or plummet based on the collective mood of traders, making it essential to stay attuned to these emotional undercurrents. Consider the sway of figures like Elon Musk and Michael Saylor – their tweets and public statements can send ripples through the market, causing dramatic shifts in value almost instantaneously. For instance, Musk’s tweet about Bitcoin’s environmental…