In early July, the once prominent crypto exchange, Mt. Gox, began the process of repaying creditors who were affected by the 2014 hack. Despite the distribution of Bitcoin and Bitcoin Cash owed to these creditors by Kraken, the price of Bitcoin has not fluctuated significantly, indicating a sense of stability in the market. Concerns arose
Crypto
The current price of Ethereum has been consolidating above the 100-day and 200-day moving averages, indicating a bullish trend in the market. This consolidation phase follows a period of sideways fluctuation after breaking above the critical 100-day moving average at $3,354. The lack of clear direction in the price suggests an equilibrium between buyers and
Shiba Inu (SHIB) has recently experienced a 13% drop in value over the past week, leaving many investors concerned about its future trajectory. Analysts are divided on whether this downtrend will continue in the short term or if SHIB has the potential to rally in the long term. While some believe that the cryptocurrency is
Upon the launch of the Spot Ethereum ETFs in the United States, Grayscale’s Ethereum Trust experienced a significant outflow of $484 million on the first day of trading. This was largely expected due to the large premium gap that investors were capitalizing on before the ETF transitioned to spot-based trading. The potential loss of around
With the recent approval of several spot Ethereum ETFs and their upcoming trading debut, the cryptocurrency market is abuzz with anticipation. Investors and traders are closely watching how Ether’s price will react to the influx of funds from these newly launched ETFs. Kaiko, a prominent data provider in the crypto space, suggests that the market
The Coinbase premium has recently turned positive, sparking speculation about a potential resurgence of institutional interest in Bitcoin. This shift comes after a period of concern following a dip in mid-May, raising questions about the future trajectory of the cryptocurrency market. The Coinbase premium is a key indicator of institutional sentiment in the cryptocurrency market.
The recent positive inflows into the largest spot Bitcoin ETFs in the US have been overshadowed by a sharp retracement in the price of the underlying asset. Despite reaching close to $67,000 again, Bitcoin faced significant volatility over the past week. After failing to maintain above $65,000, the primary cryptocurrency slipped to $63,000 before bouncing
On July 23, Hong Kong made history by launching Asia’s first Bitcoin futures inverse product, the CSOP Bitcoin Futures Daily (-1x) Inverse Product (7376.HK). This innovative exchange-traded fund (ETF) introduced by China Southern Asset Management Co., Ltd (CSOP) offers investors the opportunity to profit from declines in Bitcoin’s price. With an initial price of approximately
Recent data has shown a significant increase in investment in digital asset products, with inflows reaching $1.35 billion last week and totaling $3.2 billion over the past three weeks. This surge in investment has been accompanied by a rise in trading volumes for Exchange Traded Products (ETPs), which saw a 45% increase week-over-week to $12.9
When Ethereum launched its initial coin offering (ICO) back on July 22, 2014, the cryptocurrency landscape looked very different. Offering 2,000 ETH per sale unit per BTC in a fully permissionless environment, Ethereum set the stage for what would become a revolutionary blockchain platform. The absence of venture capital influence or vesting periods emphasized Ethereum’s
