“This means trying to exclude all of trading, so not just automated trading,” he said. Trading, it shouldn’t have to be said, is a pretty big part of why people use crypto. Additionally, as far as Campbell can tell, Visa’s report cut out wallet addresses for centralized exchanges like Binance and Coinbase, which both hold stablecoins used in services like prepaid cards, “some of which are literally Visas.” Source
Bitcoin’s price has surpassed $65,000 after the cryptocurrency dropped below $57,000 last week. Bitcoin (BTC) reached $65,500 at the moment, but according to CoinMarketCap data, it had fallen again to $63,500 at the time of writing. Source: CoinMarketCap The coin’s asset dominance regained some positions alongside a BTC price jump. The indicator reflects the share of Bitcoin’s market capitalization in the total market capitalization of all cryptocurrencies, reaching 54.8%. In addition, the Fear and Greed Index has risen two basis points over the past 24 hours. Source: Alternative.me The last…
Less than 10% of stablecoin transaction volumes are organic or come from real people, according to new findings by Visa and data platform Allium Labs, Bloomberg reported. Source
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
A pair of bipartisan US congressmen are reportedly asking the U.S. Securities and Exchange Commission (SEC) to greenlight options trading on spot Bitcoin (BTC) exchange-traded funds (ETFs). Citing a letter sent to SEC chair Gary Gensler, Axios reports that Representatives Mike Flood (R-NE) and Wiley Nickel (D-NC) say that approving options trading on Bitcoin ETFs is critical and crucial to investors that the securities watchdog seeks to protect. Reads the document, according to Axios, “We urge you, without delay, to approve options on spot Bitcoin ETPs or to provide an…
The price of Bitcoin has consolidated above $60,000 following the U.S. labor market report issued today. The rise in Bitcoin (BTC) happened shortly after the publication of the U.S. jobs report, which shifted expectations of the Federal Reserve’s key rate cut from November to September. Bitcoin gained more than 4% after the release of the statistics and continues to grow, moving towards $62,000, according to CoinMarketCap data. Source: CoinMarketCap CryptoQuant CEO Ki Young Ju said that Bitcoin whales accumulated 47,000 BTC in anticipation of the Fed’s report. Macroeconomic data has caused expectations…
Coinbase won approval to offer cryptocurrency derivative trading to U.S. retail customers, fueling much hope and momentum to the $2.1 trillion cryptocurrency derivative market. Coinbase’s approval arrived following a significant decline in derivative trading volume due to economic uncertainties, regulatory struggles, and a reduction in risk from high wealth accounts and retail traders. Derivative trading, such as futures, options, and others, has dominated the cryptocurrency market since 2014 as investors snap at the opportunity to place bets with little investment for a higher percentage return. A large percentage of the…
On Tuesday, U.S. spot bitcoin exchange-traded funds (ETFs) registered their fifth consecutive day of net withdrawals, documenting a substantial $161.6 million in negative outflows. Over the last two days, Grayscale’s Bitcoin Trust (GBTC) has offloaded 1,731.56 BTC, diminishing its reserves to 296,713.90 BTC. Bitcoin ETFs Continue to See Persistent Outflows Since April 24, 2024, U.S. […] Original
Between 2022 and 2023 Crypto alongside retail banking, wholesale banking and wealth management posed the greatest risk of being exploited for money laundering, a report by the U.K. Treasury department showed. Source
Russia reportedly plans to institute a wide-ranging crypto ban in September. Anatoly Aksakov, chairman of the State Duma Committee on the Financial Market, says the country plans to prohibit “organizing the circulation of cryptocurrencies,” according to the National News Service, a Russian media agency. “We are talking about a ban on transactions with Bitcoin and other cryptocurrencies. Digital financial assets issued in Russian jurisdiction, digital rubles, will be allowed. The need for a ban is due to the fact that today cryptocurrency is a quasi-currency that replaces the ruble in…