Category: Crypto

TL;DR Shiba Inu (SHIB) surged 20% on August 6, with significant increases in transaction volume and burn rate. The overall meme coin niche rebounded, with its market capitalization rising above $40 billion amid notable gains from Dogecoin, Pepe, and Bonk Inu. SHIB Metrics Explode The popular meme coin Shiba Inu was among the best-performing cryptocurrencies on August 6 and even today following the crash witnessed on Monday. Its price is up approximately 20% since that low (per CoinGecko’s data) and is currently worth around $0.00001359. Still, this represents an 18%…

The SOL/ETH ratio — a measure of the value of one Solana token to one Ether token — has reached a new all-time high in the wake of a market shakeup that saw crypto prices tumble drastically on the week.  The Solana (SOL) to Ether (ETH) ratio notched a new high of 0.0595 on Aug. 6, per TradingView data. SOL/ETH notched a new all-time high of 0.059 on Aug. 6. Source: TradingView It comes in the wake of a brutal $500 billion crypto sell-off stemming from turmoil in traditional financial…

The ongoing turmoil in the Japanese and United States stock markets has triggered heightened volatility in the crypto space. This highlights the interconnectedness of global markets and Bitcoin’s growing correlation with traditional finance (TradFi) markets. Analysts at the crypto exchange Bitfinex explained in the latest Alpha report that Bitcoin’s rising correlation with TradFi markets could mean continued downward momentum for the digital asset if stock market declines persist. Bitcoin Could Plunge Further Economic and political developments exerting influence across all markets have triggered a broader instability that saw the Japanese…

Clicker Games will have a ‘fairly sizeable’ drop-off soon Clicker games like Catizen and Tapswap will probably lose their appeal once the current batch releases tokens because the games probably won’t sustain the hype, says SKALE Labs Chief Growth Officer Andrew Saunders. Saunders tells Web3 Gamer that many people are flocking to crypto idle clicker games — also known as tap-to-earn games — because of “airdrop speculation,” meaning they’re hoping to get a massive crypto payout later from airdrops. Clicker games are the latest phenomenon in crypto, and some of…

Total crypto market capitalization has topped $2 trillion again following an epic slump wiping $500 billion out of the space in less than a week. The figure fell to $1.83 trillion on August 5 as Bitcoin tumbled below $50,000 and Ethereum tanked 23% in a day to below $2,200. However, that total cap figure has gained 12% since that dip, returning to $2.06 trillion at the time of writing. Time For a Recovery? Nevertheless, crypto markets have fallen to a six-month low, but analysts are already talking about a recovery. In…

OpenAI co-founder John Schulman has left the artificial intelligence startup he co-founded in 2015 for competitor AI firm Anthropic, leaving just three original co-founders still serving the firm. In addition to Schulman’s departure, OpenAI’s product manager Peter Deng also quietly left the company some time ago while president Greg Brockman is taking an extended leave of absence, according to an Aug. 5 report from The Information. In an Aug. 6 post to X, Schulman announced his departure from OpenAI after working there for nearly nine years, saying he’d made the…

Bitwise CIO Matt Hougan said Monday that he views the weekend’s violent selloff in crypto/equities as a Bitcoin buying opportunity. In a Twitter thread Monday, the executive likened the market crash to March 12, 2020 – a day of “chaos” that pre-empted historic new highs for crypto over the following months. Bitcoin Buying Opportunity, Says Bitwise As noted by Hougan, the NIKKEI – Japan’s stock market index – experienced its worst day since 1987 on Monday, dropping 12% on the day. The carnage spread to U.S. markets as well, with…

According to public disclosures filed on Aug. 5, Capula Management, Europe’s fourth-largest hedge fund, invested nearly $500 million in Bitcoin (BTC) exchange-traded funds.  The hedge fund, which is based in the United Kingdom and manages upward of $30 billion in investor assets, holds shares in Fidelity Wise Origin Bitcoin Fund (FBTC) and BlackRock’s iShares Bitcoin Trust (IBIT). According to the filing, Capula owns shares worth more than $464 million in total, reflecting its portfolio as of June 30. The filings do not indicate that Capula owns any other crypto assets. The…

TL;DR Cardano (ADA) reached a nine-month low price, leaving many investors in losses (as of the moment). Input Output introduced a partner chains toolkit to enhance security, though ADA’s price remained unaffected. The RSI indicates it might be oversold, hinting at a potential rebound. Almost Every ADA Investor Goes Underwater The cryptocurrency market has significantly declined in the past few days, with things escalating in the past 24 hours. The sector witnessed a severe crash where Bitcoin (BTC) briefly collapsed below $50,000 (for the first time in six months), while…

Bitcoin (BTC) crashed below $50,000 after the Bank of Japan announced that it was raising its interest rate from 0% to 0.25%. This decision directly impacted the US stock market, as traders were borrowing Japanese Yen at low interest rates to buy assets in the US market. A shift in this paradigm has directly impacted risk assets, with BTC experiencing further corrections.  Bitcoin price repeats “lower high” trend from Q2 Bitcoin witnessed a third lower high (LH3) on July 29, when it briefly touched $70,000. This particular pattern has signaled…