The defunct crypto hedge fund, Three Arrows Capital (3AC), has taken legal action against TerraForm Labs, a bankrupt digital assets company co-founded by Do Kwon, in an attempt to recover funds for its creditors. The liquidators of 3AC are alleging that TerraForm Labs manipulated the market for Luna and TerraUSD, resulting in artificially inflated prices
Crypto
The US spot Ethereum ETFs saw a total inflow of $4.9 million on Monday, showcasing positive investor sentiment towards Ethereum. Grayscale Ethereum Trust (ETHE) notably did not record any withdrawals, marking a significant milestone since its conversion to an ETF. After experiencing 14 days of outflows, ETHE finally saw a pause in this trend. This
The current market conditions have left many new Bitcoin investors facing financial stress. Various metrics point towards a bearish environment, highlighting factors that can worsen market volatility, increase selling pressure, and contribute to further price declines. The Short-Term Holder MVRV (Market Value to Realized Value) and the standard deviation (SD) of the short-term holder Cost-Basis
Sui (SUI) has recently seen a remarkable 125% increase in just one week, largely due to the introduction of Grayscale’s Sui Trust. This surge has placed SUI among the top cryptocurrencies, with a daily increase of over 9% and a weekly surge of 70%, currently trading at approximately $1 according to CoinGecko data. The significant
Ethereum seems to have weathered the recent market downturn quite well, with investors seizing the opportunity to buy in at lower prices. Data from CoinShares reveals that Ethereum has attracted $155 million in inflows over the past week alone. This influx of funds has pushed the year-to-date total inflows for Ethereum to $862 million, the
A recent analysis by CryptoQuant suggests that Ether (ETH) could potentially experience a rally in the near future based on metrics in the cryptocurrency’s futures market. The analyst, Shayan, noted that ETH has recently undergone a significant liquidation event, which historically has been followed by price rallies as markets stabilize and spot buying pressure increases.
Binance, known as the world’s largest cryptocurrency exchange, recently announced the delisting of six altcoins from its platform. This decision has sparked significant price drops for the affected assets, as has been the case historically whenever such delistings occur. Binance periodically reviews each digital asset listed on its platform to ensure that they continue to
The recent surge in XRP’s price after a court ruling in the Ripple v SEC case has sparked optimism among investors. Despite a slight decline in price following the rally, many in the industry are hopeful for a potential “mega run” and new highs for XRP. Ripple’s XRP made headlines last week when it experienced
Bitcoin is facing a challenging situation as analysts closely monitor the market for key technical indicators and signals to determine its next move. CoinGlass recently reported that the liquidity heatmap is indicating crucial first-test lines at $56,800. This level will serve as a significant point for BTC prices, with potential higher tests if there is
In the second quarter of 2024, Toronto-based Bitcoin mining company Bitfarms reported a total revenue of $42 million, which marked a 16% decline quarter-over-quarter. This decrease was primarily attributed to the reduction in block rewards as a result of the BTC halving event that occurred on April 19, 2024. Additionally, Bitfarms reported a net loss