Category: Crypto

The debut of spot Ethereum ETFs in the United States resulted in some of the highest inflows since December 2020 over the last week. According to CoinShares, the newly launched funds attracted $2.2 billion last week. Since then, the trading volume of Ethereum ETPs has also surged by 542%. However, the inflows have been hampered by Grayscale’s existing $1.5 billion Ethereum trust, which resulted in ETH experiencing a net outflow of $285 million for the week. This mirrors the situation observed with Bitcoin trust outflows during the January 2024 ETF…

Cryptocurrency exchange Coinbase is doubling down on its support of global spot Bitcoin exchange-traded funds (ETF), becoming a custody partner for a Bitcoin ETF in Australia. Australia’s DigitalX, the issuer of the spot Bitcoin ETF called DigitalX Bitcoin ETF (BTXX), has selected Coinbase as the custody provider for its spot Bitcoin (BTC) fund, according to the official BTXX fact sheet. Launched on July 12, the DigitalX Bitcoin ETF aims to provide returns that mirror the performance of Bitcoin by maintaining long-term holdings of BTC. Source: DigitalX DigitalX announced it received approval…

TL;DR Shibarium has seen a resurgence in activity with significant increases in processed blocks and daily transactions. Analysts are divided on SHIB’s price outlook, with some predicting a rally and others cautioning about a possible decline. The Latest Achievement Shiba Inu’s layer-2 blockchain solution, Shibarium, reached another important milestone less than a year after its official launch. Data shows that the network has processed over 6 million blocks. The protocol has witnessed a significant resurgence lately, with numerous metrics heading north. Active accounts, for example, spiked from 253 on July…

Nearly $1.5 billion in tokens from major crypto projects are set to be unlocked in August, with 1 billion XRP (XRP) tokens—worth $609 million at current prices—making up a massive part of the month’s total on Aug. 1.  Ripple, the firm behind the XRP Ledger and the native token XRP, has unlocked 1 billion tokens on the first day of every month since 2017. It uses two main wallets, Ripple (24) and Ripple (25), to evenly split the unlocks each month. Other major unlocks in August include those from layer-1 network…

TL;DR Dogecoin (DOGE) is up 5% daily with one analyst predicting a significant rally based on historical patterns. Some important metrics, such as the Relative Strength Index (RSI), also indicate a potential upcoming uptrend. Not Selling a Single Coin The largest meme coin in terms of market capitalization – Dogecoin (DOGE) – performed quite well in the last week, witnessing a 7% price increase. In the past few days though, it briefly lost the momentum, with its price slipping to around $0.12 before spiking to $0.13 again (CoinGecko’s data). DOGE…

Bitcoin (BTC) has recovered sharply from the intra-week lows, indicating a positive sentiment where dips are being purchased. Market analytics firm Santiment said in a X post that the ratio of positive comments to negative comments toward Bitcoin has reached its highest level since March 2023. While the short-term traders are focusing on a new all-time high for Bitcoin, the long-term investors are projecting uber-bullish targets for Bitcoin. SkyBridge Capital founder Anthony Scaramucci said during the Bitcoin 2024 conference in Nashville, Tennessee, that Bitcoin’s market capitalization will probably overtake the…

TL;DR Some NFT-related cryptocurrencies have shown notable development activity in the last month. Despite strong market performances, sector leaders by market cap like Internet Computer (ICP) and Artificial Superintelligence Alliance (FET) were not included in the top 10 list. The Top Performers Non-fungible tokens (NFTs) and cryptocurrencies related to them were one of the main trends during the crypto bull run of 2021. Despite the diminishing interest, many of those coins are still present, while their total market capitalization is over $30 billion (CoinGecko’s data). The crypto market intelligence platform…

In a move aimed at bolstering regulatory oversight and mitigating financial risks, the Swiss Financial Market Supervisory Authority (FINMA) has proposed new guidelines for stablecoin issuers. The proposal comes amid growing concerns over the potential impact of stablecoins on regulated institutions and the broader financial ecosystem.  According to a recent guidance document, FINMA seeks to classify stablecoin issuers as financial intermediaries, highlighting the increased risks associated with money laundering, terror funding, and sanctions evasion linked to these digital assets. Stablecoins, digital assets linked to traditional currencies or other assets to…

Bitcoin has remained the most used cryptocurrency by criminals, even with the rise of privacy coins like Monero. According to the recent Europol Internet Organized Crime Threat Assessment report, financial crimes are also still the main illicit crypto use. Bitcoin’s Popularity with Criminals Sparks Concerns Bitcoin has been the preferred asset for ransomware groups due to its accessibility for non-savvy users compared to alternatives like Monero (XMR). Despite this, criminals often convert Bitcoin to stablecoins to avoid market volatility, particularly when obtained through investment fraud. According to the report, the…

Donald Trump’s keynote speech at the Bitcoin 2024 conference in Nashville, Tennessee didn’t act as the whale call some analysts may have predicted, but its impact may yet be felt as word gets out.  The former president laid out his plans to end the war on crypto to thunderous applause as he told the US audience his plans, were he to be re-elected. While the crowd was jazzed, the markets failed to capture the Republican nominee’s supporters’ anticipation. Approximately one hour before Trump was scheduled to take the stage, the…