XRP is rallying Today, know why?
XRP has experienced a 4.5% price increase, reaching above $0.52, signaling a bounce back from its recent low of $0.47. This surge comes amidst a broader recovery in the cryptocurrency market following a dip in prices on Thursday and Friday. The positive response from XRP holders can be attributed to a recent development in the […]
Coinbase Halts Trading of Three Major Stablecoins in Canada, Know Why?
Crypto exchange Coinbase has announced that it will suspend trading of RAI Reflex Index (RAI), Dai (DAI), and Tether (USDT) for its Canadian users, starting from August 31. Explained: The move comes as these cryptocurrencies failed to meet Coinbase’s “listing standards.” This is not the first time a crypto exchange has had to comply with […]
SEC set to approve Ethereum Futures ETF: What it means for crypto?
The US Securities and Exchange Commission (SEC) is reportedly ready to approve the first Ethereum Futures Exchange-Traded Fund (ETF) in the United States. According to Bloomberg, the ETF is expected to be introduced by Valkyrie on either October 3rd or October 4th. This development comes as the crypto community eagerly anticipates the approval of a […]
Why Bitcoin crashed to $26,000: Elon Musk’s SpaceX, Interest Rate fears, or something else?
Bitcoin experienced a sudden drop in price, falling approximately 8% within a span of 10 minutes, leading to speculation from analysts regarding the potential causes. What you need to know: Some theories include Elon Musk’s SpaceX selling its Bitcoin holdings worth $373 million, concerns about interest rate hikes, and the impact of rising government bond […]
$1 billion crypto liqudiations in 24 hours: who’s responsible?
Crypto traders experienced significant losses as bitcoin and ether suffered a sharp sell-off. Over the past 24 hours, approximately $1 billion in liquidations occurred, according to Coinglass data. Bitcoin’s price dropped to around $25,000 on the Binance exchange, reaching a two-month low. Long positions totaling $821 million were wiped out during the sell-off, with bitcoin […]
Elon Musk-owned SpaceX reportedly sold $373 million of its Bitcoin Holdings
According to a report from the Wall Street Journal, SpaceX, the space exploration company led by Elon Musk, wrote down the value of its bitcoin holdings by $373 million in 2020 and 2021. The report suggests that the company has also sold some of its bitcoin, although the exact amount and timing were not disclosed. […]
Why no one is buying Bored Ape Yacht Club NFTs anymore
The Bored Ape Yacht Club (BAYC) non-fungible tokens (NFTs) have seen a significant decline in price, now being priced below 30 Ethereum according to NFTPriceFloor.com. This marks a reversal from the peak of NFT mania, which saw high-profile sales like Beeple’s “Everydays: The First 5,000 Days” for $69.3 million. The current discussion surrounding NFTs has […]
Singapore Police seizes over $735 million in crypto
Singaporean authorities have detained 10 individuals, primarily with Chinese passports, on allegations of money laundering, resulting in the seizure of assets valued at approximately S$1 billion ($735 million), including cryptocurrencies. What you need to know: The arrests were made in connection with accusations of forgery, money laundering, and evading arrest. Law enforcement confiscated 94 real […]
MicroStrategy outshines Tesla — we aren’t saying this, the data is
MicroStrategy, led by founder Michael Saylor, has emerged as the leader among public companies holding Bitcoin, according to crypto analyst William Clemente’s comparisons. Explained: Since August 2020, MicroStrategy has been actively accumulating Bitcoin as a long-term strategy, purchasing large amounts and even issuing extra bonds to fund the purchases. Currently, the company holds 152,800 Bitcoins, […]
Bitcoin Price Could Soar Over $150K, Here’s How?
Bitcoin’s price is expected to surge beyond $150,000 by the end of 2024, provided that the current wave of United States spot-Bitcoin exchange-traded funds (ETFs) gets approved, as stated by investment research firm Fundstrat. Explained: Tom Lee, the managing partner and head of research at Fundstrat, emphasized that the approval of Bitcoin spot ETFs would […]