Bitcoin, the premier cryptocurrency, has been experiencing a slowdown in on-chain activity since reaching an all-time high in mid-March. Data analytics firm Santiment recently reported that various metrics on the Bitcoin network have been on the decline, including transaction volume, daily active addresses, and whale transaction count. This drop in on-chain activity has raised concerns
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Ethereum (ETH) has recently faced a significant downturn, with a 6.45% drop in the past week. This decline adds to the overall negative trend for the world’s second-largest cryptocurrency, as it has seen a 16.57% decrease in value over the last few months. However, the recent attention-grabbing event was the sell-off of all Ethereum tokens
In the past 24 hours, the cryptocurrency market has shown signs of stabilization, with Bitcoin trading at around $61K and Ethereum struggling to stay above $3K. Following a sudden correction that saw Bitcoin’s price drop below $61K and lose around 3.5%, the market experienced some turbulence. However, the situation seems to have calmed down since
In a surprising move, two major US banks, JP Morgan and Wells Fargo, have recently disclosed their investments in Spot Bitcoin ETFs, signaling a significant shift in their approach to cryptocurrencies. This announcement comes at a time when the crypto market is experiencing a prolonged downturn, with Bitcoin’s price hovering just above $60,000. Wells Fargo,
Recent analysis from various crypto analysts, including Javon Marks, points towards a potential surge in the price of Cardano (ADA) in the near future. Marks highlighted the significant progress that ADA has made since breaking a resisting trend, indicating a positive outlook for the crypto token. He suggested that ADA could potentially increase by 15x,
Bitcoin saw a decrease in price by 3.06% on Friday, dropping to $60,372.36 as reported by CoinMarketCap. Despite this decline, trading analyst Titan of Crypto remains optimistic about Bitcoin’s potential for a post-halving price rally. The analyst highlighted a bullish signal in the daily timeframe, specifically pointing out the bullish engulfing candle pattern which suggests
Core Scientific, a frontrunner in Bitcoin mining, recently unveiled its financial results for the first quarter of 2024, showcasing a remarkable improvement since emerging from bankruptcy. The company’s net income soared to $210.7 million, a stark contrast from the net loss of $0.4 million reported during the same period in 2023. Total revenue also witnessed
The International Monetary Fund (IMF) has recommended that Nigeria embrace the regulated use of digital assets by licensing international crypto exchanges. This recommendation comes at a time when Nigeria is facing a regulatory crackdown on crypto activities, including a legal dispute with Binance and a proposed ban on peer-to-peer (P2P) trading. The IMF believes that
The crypto industry is on the brink of a potential breakthrough in terms of regulatory oversight with the introduction of the Financial Innovation and Technology for the 21st Century (FIT21) Act. This proposed legislation, set for a House floor vote by the end of May, aims to address longstanding issues of market oversight and consumer
In recent trade, the crypto market has witnessed a sharp pullback due to concerns about stagflation and hawkish commentary from Fed policymakers. The fear regarding the economic conditions has led traders to explore altcoins with strong bullish momentum to identify the best crypto to buy at the moment. Fed policymakers, including Logan, have expressed concerns
