Zach Rector, an experienced cryptocurrency analyst, has brought up an intriguing notion: XRP could experience a significant reduction in supply due to a potential large-scale token destruction event. This prospective occurrence would likely result in a substantial increase in value for the crypto token, given the influence of token burns on a digital currency’s worth. … Read more
Based on Galaxy Digital’s latest market analysis, the search volume for “Bitcoin” on Google surpasses that of both “Taylor Swift” and “Beyoncé”. BTC Popularity and Key Catalysts In addition, Mike Novogratz noted that the search volume for Bitcoin on Google hit its peak in the past year during March. This isn’t shocking given Bitcoin’s upward … Read more
In their latest market analysis, Galaxy Digital’s team, led by billionaire Mike Novogratz, points out that the approaching Bitcoin halving is distinct from past occurrences. In past bitcoin market cycles, reaching new record highs following a halving event was typical. But contrastingly, this occurrence did not materialize during the most recent cycle. On March 14, … Read more
Recent trading activity data from the blockchain indicates a decrease in Solana and other leading cryptocurrencies’ trading volumes. This observation offers some insights into current market trends. Solana, Bitcoin, And Ethereum Trading Volumes Have Declined Over Past Month Based on information from the crypto analysis company Santiment, trading activity in the digital currency market has … Read more
Chainlink has unveiled the debut of its Chainlink Functions feature on Base, a layer-2 blockchain created by Coinbase and fortified by Ethereum. With this integration, developers on Base now possess sophisticated computing abilities. They can link smart contracts with external APIs and execute dependable computations, minimizing the need for trust. Incorporating Chainlink Functions onto Basis … Read more
Over the past three months, short sellers have experienced a loss of approximately $1.92 billion due to their bearish positions against MicroStrategy. The practice of short selling in the cryptocurrency sector has surged recently. Among all crypto assets, it is MicroStrategy that has caused the most significant losses for short sellers during the last week. … Read more
Uniswap, a decentralized cryptocurrency exchange, was given a warning letter, known as a Wells Notice, from the US Securities and Exchange Commission (SEC) on Wednesday. This notice signifies the SEC’s potential intent to take enforcement action against the company before filing a lawsuit. After the SEC’s decision to investigate crypto platforms within the country, Uniswap … Read more
The European Union’s Markets in Crypto Assets (MiCA) law aims to regulate the crypto asset market, but it hasn’t significantly increased Euro-denominated crypto transactions as of now. According to an ESMA report, the MiCA regulation may not boost Euro transaction volumes immediately but could serve as a catalyst for growth in the future. Despite being … Read more
For those new to investing in cryptocurrencies, it can be a challenging and intimidating experience, particularly for individuals moving from the conventional financial sector. The unpredictability attached to digital currencies such as Bitcoin (BTC) and Ethereum (ETH) may deter even seasoned investors. However, with time and experience, managing a diversified crypto portfolio including prominent altcoins … Read more
Based on a current Reuters article, Hong Kong could be the first Asian city to introduce Bitcoin spot Exchange-Traded Funds (ETFs) soon. Remarkably, potential approvals for these ETFs might be unveiled as soon as next week, which is notably earlier than anticipated industry timelines for such introductions in 2023. Hong Kong’s Bid For Revival According … Read more