Investors should brace for waves of fear, uncertainty and doubt – or FUD – over the next few months, a K33 Research analyst said. Original
Crypto Markets Under Pressure as $2B Worth of Altcoin Token Unlocks and $11B Bitcoin Distribution Loom
Tag: Markets
Injective, Underperforming in Crypto Markets, Now Plans Layer-3 Chain on Arbitrum
“The significance of Injective’s integration with Arbitrum extends beyond just building blockchain networks or infrastructure,” said Eric Chen, the co-founder of Injective Labs, in the press release. “It enforces the fundamental principle of interoperability – closing the gap between Ethereum, Cosmos and other widely adopted L1s – for an ecosystem where cross-chain assets and liquidity can be truly composable across ecosystems.” Source
Crypto Derivatives Principal Trader Arbelos Markets Raises $28M Led by Dragonfly Capital
The fundraising consisted of seed equity and debt financing led by crypto venture capital firm Dragonfly Capital. A wide range of investors also participated in the round: investment firms Room40 Ventures, Selini Capital and Breed VC, corporate partners FalconX, Circle Ventures, Paxos, P2 Ventures (previously Polygon Ventures), Deribit, Chorus One, StarkWare and Immutable, and angel investors at Aevo, Cega, Talos, Amberdata, and Framework, the press release listed. Source
Elon Musk Will Likely Remain Tesla CEO, and Tweet Non-Stop: Prediction Markets
Now, Tesla faces an existential threat. Sales and profits are falling, competition is increasing, particularly from China, and drastic cost-cutting measures include staff reductions and simplified car builds. As Tesla struggles with market pressures, leadership and strategic challenges persist, raising concerns about the company’s direction and stability. Source
Crypto Wealth Bolsters Real Estate Markets and Consumer Spending, Study Finds
As cryptocurrency becomes a significant part of American investment portfolios, its influence extends beyond digital transactions into tangible impacts on real estate markets and household spending, a recent study finds. Report Shows Cryptocurrency Wealth Adds ‘Meaningful Implications for the Real Economy’ The study, first reported on by Bloomberg, analyzes bank and credit card data from […] Source CryptoX Portal
Bitcoin’s (BTC) Recent Weakness Has Not Been Isolated to Crypto Markets, Coinbase Says
“The average weekday spot volume on CEXs during 1Q24 was $18.8 billion, more than eight-fold the $2.3 billion daily volume of U.S. spot ETFs over the same period,” the note said. “This discrepancy in activity leads us to believe that bitcoin’s price discovery still remains rooted in global demand trends.” Source
JPMorgan: Retail Investors Drive Selloff in Both Crypto and Equity Markets
JPMorgan has highlighted a significant increase in selling and profit-taking across equity and crypto markets, driven largely by retail investors. The global investment bank also observed institutional momentum traders and quantitative funds reducing positions, particularly in stocks, bitcoin, and gold. Insights on Market Trends by JPMorgan JPMorgan, a global investment bank, has provided insights on […] Source CryptoX Portal
Bitcoin (BTC) Price Buckles Below $60K as Crypto Markets Endure Worst Month Since FTX Crash
With a few hours left from the last day of the month (UTC time), bitcoin is down over 16% through April, and ether is lower by 18%.. Smaller cryptocurrencies suffered an even deeper correction, with altcoin darlings SOL, dogecoin (DOGE), avalanche (AVAX) lower by 35%-40% this month. Original
Avraham Eisenberg, Mango Markets Exploiter, Charged with Possession of Child Pornography
Upon discovery of the material, the Government applied for and obtained a second warrant, expanding the scope of the original warrant to search for evidence of offense related to the possession and receipt of child pornography in February 2023, court documents read. Source
Binance loses 25% of Bitcoin market share as offshore markets shrinks
As offshore markets diversify, Binance’s Bitcoin market share has declined to 55%, while Bybit emerged as a frontrunner with a surge from 2% to 9.3% Binance‘s dominance in Bitcoin trading outside the U.S. market appears to be shrinking, as its share dropped from 81.3% to 55.3% over the past year as the exchange faced increased competition following the removal of its large-scale Bitcoin zero-fee promotion. According to data from Kaiko, the same trend can also be observed with smaller altcoins, where Binance’s share declined from 58% to 50.5%. Altcoin market…