Author: Ava Patel

Article written by Ava Patel

Toncoin Faces Potential Sell-Off and Significant Resistance

15 hours ago 1 min read

Toncoin (TON) has undergone a 12% decrease in value within the past six days, dropping below a significant threshold and failing to surpass it. The price is expected to stay below $7 in the upcoming days due to a decrease in the number of holders who are making profits, which is no longer at its earlier height. The In/Out of Money Around Price (IOMAP) indicates a substantial barrier to selling,

Jersey City Mayor plans to allocate a portion of the city’s pension fund to Bitcoin ETFs

19 hours ago 1 min read

Mayor Steven Fulop of Jersey City has declared intentions to deploy a segment of the city’s pension fund towards Bitcoin exchange-traded funds (ETFs), indicating a notable change in the city’s financial approach to incorporating crypto. The pension fund is currently revising its documentation with the US Securities and Exchange Commission (SEC) to incorporate Bitcoin Exchange-Traded Funds (ETFs). This move aligns Jersey City with the Wisconsin Pension Fund, which allocated 2%

Tron Network and Ethereum hit new milestones in the number of transactions

July 24, 2024 1 min read

In recent weeks, there has been a notable surge of activity in the cryptocurrency market, particularly with the Tron Network and Ethereum blockchains achieving noteworthy milestones. The Tron Network has achieved a total of 8.1 billion transactions, with a recent daily volume of 6.8 million transactions. The TRON (TRX) native token accounted for the biggest proportion of transactions, making up 37.97% of the total. The network’s transaction count at the

Bitcoin ETFs saw a record $18 billion inflow between July 15-19, 2024

July 22, 2024 1 min read

Bitcoin exchange-traded funds (ETFs) experienced a substantial influx of $18 billion from July 15 to July 19, 2024, capturing the interest of investors and propelling them to unprecedented levels. On July 16, the market experienced a significant influx of $424 million, making it the highest inflow of the year. The iShares Bitcoin Trust (IBIT) from BlackRock took the lead with $141 million. Additional notable contributions were made by the Bitwise

The Winklevoss twins donate $1 million in Bitcoin (BTC) to John Deaton’s campaign

July 19, 2024 1 min read

Republican candidate John Deaton, who is competing against Senator Elizabeth Warren in Massachusetts, has received a $1 million Bitcoin donation from the Winklevoss twins, Tyler and Cameron. Tyler censured Warren, labeling her as the primary adversary of cryptocurrencies, while Cameron commended Deaton for being supportive of Bitcoin and cryptocurrencies. The twins’ endorsement is a component of a wider endeavor by the crypto community to back candidates who are in favor

Bitcoin mining profitability is at historic lows despite high trading values

July 18, 2024 1 min read

The operational efficiency of Bitcoin mining is being hindered by the rapid increase in the network’s hashrate, which has reached 635 exahashes per second (EH/s), resulting in heightened competition. Since November 2021, the hashrate, which represents the computational capacity required for transactions on proof-of-work blockchains, has increased by over thrice, coinciding with a period when Bitcoin’s price was comparable. As of July 16, the “hash price” has dropped to $51.13,

Ethereum ETFs to draw up to $1 billion monthly

July 15, 2024 1 min read

Kraken’s Head of Strategy, Thomas Perfumo, predicts that Ethereum ETFs could attract up to $1 billion in monthly investments, potentially pushing Ethereum (ETH) to new price highs and benefiting the wider crypto market. Perfumo also highlighted the upcoming US elections as a significant factor in the crypto industry’s future. He identified Ethereum ETFs as a key factor for the crypto market’s growth in the latter half of the year, with

FTX disputes the $264 million claim by Jump Trading over SRM tokens

July 12, 2024 1 min read

FTX exchange is contesting a $264 million claim by Jump Trading subsidiary Tai Mo Shan for 800 million Serum (SRM) tokens obtained through a loan agreement with Alameda Research. The collapse of FTX in 2022 led to the decline of Serum, a decentralized exchange that used SRM as its native cryptocurrency. Jump Trading seeks compensation using an options model considering SRM’s market price, volatility, and other financial factors. FTX’s legal

Italy’s new MiCA-based crypto guidelines aim to stabilize financial system

July 10, 2024 1 min read

Italy is to implement new regulations on cryptocurrencies in accordance with the EU’s Markets in Crypto-Assets Regulation (MiCA) law. The objective is to guarantee financial stability, promote innovation, and safeguard consumers. Fabio Panetta, the Governor of the Bank of Italy, unveiled the regulations in a speech delivered to the Italian Banking Association (ABI). The rules prioritize the significance of electronic money tokens (EMTs) and asset reference tokens (ARTs), which are

North Carolina Governor Roy Cooper vetoed a bill to block federal digital currencies

July 8, 2024 1 min read

North Carolina Governor Roy Cooper has vetoed a bill aimed at preventing the introduction of central bank digital currencies (CBDCs) in the state. The bill, passed unanimously by both legislative chambers, aimed to prevent CBDCs issued by the US Federal Reserve from being implemented in North Carolina. Cooper criticized the bill as vague and reactionary, arguing it did not address immediate threats and urged lawmakers to focus on passing a

Delays in the launch of Ethereum ETFs have led to market uncertainty and significant outflows

July 4, 2024 1 min read

The sentiment in the Ethereum (ETH) market is now mixed as a result of the delay in the launch of spot Ethereum ETFs. The ETFs, which were first projected to be available on July 2, are now likely to be released on July 8. However, the initial anticipation surrounding their launch has diminished. The digital fund flows data from CoinShares indicates substantial outflows, representing its most unfavorable performance since August