Ripple, a prominent player in the cryptocurrency industry, recently announced its intention to launch a stablecoin known as Ripple USD (RLUSD) in 2024. This new stablecoin is set to operate on both the XRP Ledger and Ethereum platforms. The company aims for RLUSD to act as a bridge between traditional finance and the digital asset
Crypto
Bitcoin (BTC) has experienced a 4.5% decrease in value over the past week, hitting a monthly low of $65,000. This decline has been attributed to a surge in selling activity from Bitcoin mining entities. According to analysts from the latest CryptoQuant weekly report, the number of BTC sent from mining pools to exchanges has spiked
In May 2024, KuCoin exchange’s research arm released a comprehensive report on the performance of various cryptocurrencies. The report highlighted the trends in investments within the crypto realm, showcasing new insights into the preferences of institutional investors and the overall fundraising landscape. The report revealed that there was a total of $1.02 billion in new
Recent findings from blockchain intelligence firm TRM Labs have shed light on the growing trend of cryptocurrency payments within Chinese drug precursor networks. In the first four months of 2024, cryptocurrency deposits into crypto addresses linked to these manufacturers more than doubled compared to the same period in 2023. This highlights a significant shift towards
Ethereum faced a setback this week, losing its bullish momentum and closing with a 4.4% loss. The price action was dominated by sellers, pushing the cryptocurrency down to the key support level at $3,500. Despite this pullback, there is a possibility that it is just a normal retest after the massive breakout following the ETF
Despite Bitcoin’s recent struggles to stay above $73,000, brokerage firm Bernstein has maintained a positive outlook on the cryptocurrency’s future. In their latest report, analysts at Bernstein have increased their long-term price forecast for BTC to $200,000 by the end of 2025, up from their previous prediction of $150,000 for the same year. This upward
In recent days, Bitcoin’s price has been on a rollercoaster ride, dropping to $65,000 before recovering slightly. The primary cryptocurrency started the business week positively, reaching above $70,000 on Monday. However, things took a turn on Tuesday as anticipation and fear surrounding the US CPI numbers and FOMC meeting grew, causing Bitcoin to drop to
The cryptocurrency market is experiencing a series of Bitcoin options expiry events, with today’s expiring at a notional value of $1.35 billion. While this event is relatively smaller compared to previous weeks, it is a prelude to a larger expiry event on June 28, where $6.7 billion in notional value derivatives are set to expire.
The cryptocurrency market has been experiencing significant turbulence in recent days, with Bitcoin struggling to surpass the $67K mark. Despite attempting to rise above $68K yesterday, the price was met with resistance from sellers, resulting in a 1% loss in the past 24 hours. The choppy price action has led to the liquidation of over
A recent thread by blockchain analytics platform Bubblemaps has shed light on suspected insider trading activities related to the meme coin projects endorsed by Andrew Tate and Iggy Azalea. The allegations unveiled a concerning pattern of behavior surrounding the launch of DADDY coin, where insiders purportedly gathered a significant portion of the token supply, equivalent
