Browsing:Crypto News

Analysts are concerned about Robinhood's heavy reliance on Dogecoin trading
5 hours ago 1 min read

Analysts are concerned about Robinhood’s heavy reliance on Dogecoin trading

Robinhood, a renowned platform in the crypto industry, has become well-known for its inclusion of meme coins such as Dogecoin. Nevertheless, analysts are expressing concern because to the substantial amount of Dogecoin that it possesses. Beth Kindig, a researcher at IO Fund, emphasized the significant proportion of Dogecoin held on Robinhood, accounting for 62% of its overall crypto transaction volume. The concentration has had an impact on trading volumes, reflecting the decreased volatility and quantities of Dogecoin. Trading Dogecoin has yielded profits, but, analysts express doubts regarding its long-term viability. The IO Fund blog article raises apprehension regarding Robinhood’s significant

Crypto investments saw $600 million in outflows last week
24 hours ago 2 mins read

Crypto investments saw $600 million in outflows last week

The price potential of Bitcoin is limited as investor risk appetite falls. Last week, digital asset investment products saw outflows amounting to $600 million, reaching levels that were last observed on March 22. Analysts attribute this to the unusually assertive position taken by the Federal Open Market Committee (FOMC). The increase in withdrawals occurred after the FOMC meeting, with Bitcoin alone representing $621 million. Ethereum and Ripple, two popular altcoins, experienced inflows of $13 million and $1 million, respectively. The adverse outflows were ascribed to the Federal Reserve’s more hawkish position in the recent Federal Open Market Committee (FOMC) meeting.

Over $700 million of long positions liquidated in the last 24h
1 day ago 1 min read

Over $700 million of long positions liquidated in the last 24h as the crypto market dipped

Over the course of the last 24 hours, the crypto market has undergone a huge correction, with Bitcoin falling to its lowest position in more than a month in the process. A wave of liquidations was initiated due to unexpected decline, which resulted in the loss of long positions worth more than $700 million that were held by bullish traders. The value of the most prominent crypto, Bitcoin (BTC), experienced a significant decrease, falling below $65,000 for the first time since March 6th. Shockwaves were sent through the market as a result of this decline of almost 6%, which raised

Cryptocurrency Whales Buy $2,450,000,000 in Ethereum
1 day ago 1 min read

Crypto Whales Buy $2,450,000,000 in Ethereum

Crypto analyst Ali Martinez has reported that wealthy investors are amassing billions of dollars in Ethereum (ETH) due to its bullish signal on its daily chart. Over the past three weeks, Ethereum whales have purchased over 700,000 ETH, totaling around $2.45 billion. Martinez suggests that the Tom DeMark (TD) Sequential indicator, which identifies probable points of reversal for an asset, indicates a bounce for Ethereum. The TD Sequential has issued a buy signal, forecasting a one to four daily candlestick rebound for ETH. Currently, Ethereum’s price is $3,575, reflecting a slight increase over the past 24 hours. Martinez also reports

Tether (USDT) to launch a Gold-backed stablecoin with reserves
2 days ago 1 min read

Tether (USDT) to launch a Gold-backed stablecoin with overcollateralized reserves

Tether, the most valuable stablecoin in terms of market capitalization, is introducing a new digital asset that will be referred to as aUSDT. This asset will be backed by over-collateralized Tether Gold (XAUT). The Alloy by Tether service includes a new category of tethered assets, and this is the first product that comes from that offering. Using stabilization measures such as over-collateralization with liquid assets and liquidity pools in secondary markets, these assets are able to mirror the price of reference assets exactly. It is important to note that aUSDT is backed by XAUT, which indicates that the asset is

Binance CEO Richard Teng
2 days ago 1 min read

Binance CEO says Bitcoin will soar past $80,000 before the year’s end

Binance CEO Richard Teng has recently made forecasts on the crypto market, forecasting that the value of Bitcoin will surpass $80,000 by the end of this year. He has the belief that 2025 will surpass 2024 as a more favorable year for Bitcoin and other digital assets, primarily due to the enhancement of macroeconomic circumstances. Teng is of the opinion that the endorsement of Bitcoin’s exchange-traded funds (ETF) earlier this year, as well as the anticipated endorsement of ETFs for Ethereum (ETH), may further stimulate the influx of capital from conventional financial institutions into the cryptocurrency markets and enhance the

Is altcoins season over or just starting?
2 days ago 1 min read

Is altcoins season over or just starting?

Altcoins are currently undergoing a substantial decline in the cryptocurrency market, while Bitcoin is maintaining a reasonably steady position. Although Bitcoin is currently trading below $66K, altcoins have experienced significant declines, completely eliminating the profits gained during the March rise. The prevailing market sentiment is pessimistic, as the demand for an upcoming cryptocurrency season is diminishing. The bearish trend can be attributed to two main factors: a 5% decline in Ethereum’s value over the past week and the postponement of listing Ethereum exchange-traded funds (ETFs). This delay has caused confusion and worsened market instability. Bloomberg analysts predict that the debut

Notcoin (NOT) drops by over 15% drop in price
2 days ago 1 min read

Notcoin (NOT) drops by over 15% drop in price

Since the conclusion of the most recent airdrop claim period on Sunday, the crypto known as Notcoin (NOT) has experienced a huge decrease of 18.3%, falling from $0.02071 to $0.0175. As of the time this article was written, the price of Notcoin is $0.01804, and its total market capitalization is $1.85 billion. The trade volume of Notcoin has decreased by more than twenty percent during the course of the past twenty-four hours, reaching a total of eight hundred and ninety-nine million dollars. This decrease is accompanied by a more widespread correction in the market, with Notcoin currently trading at a

BONK (BONK) meme coin drops 40%, hitting monthly low
2 days ago 1 min read

BONK meme coin drops 40%, hitting monthly low as investor sentiment turns bearish

A lack of faith in the future of BONK, a meme coin, has been indicated by the fact that its price has dropped by over 40% this month. The change in emotion is reflected in the financing rate, which reveals an increase in short positions, which gives the impression that negative expectations are present. Contrarian investors believe that this negativity presents an opportunity, as they believe that increased fear and panic selling could result in a temporary bounce in the price of BONK. The analysts at Santiment have observed that panic selling spikes typically occur after a decrease, which may

Ripple Labs fights a $2B SEC fine, arguing for a reduced penalty
2 days ago 1 min read

Ripple Labs fights a $2B US SEC fine, arguing for a reduced penalty by citing the Terraform case

Ripple Labs Inc. is now engaged in a legal dispute with the US SEC over a proposed fine of $2 billion. The company is contending that the appropriate penalty should be lower, about $10 million. The company cites Terraform Labs’ $4.5 billion settlement as a point of reference, contending that the SEC’s penalty encompassed a substantial monetary fine and a prohibition on co-founder Kwon Do-hyung from assuming certain corporate positions. Ripple contends that their conduct were comparatively less egregious and had a lesser magnitude of damage, hence deeming the proposed $2 billion penalty unjustifiable. The Ripple case has the potential

Solana Whales Move Over $500M Worth Of SOL In many Transactions
2 days ago 2 mins read

Solana Whales Move Over $500 Million Worth Of SOL In Several Transactions

In the past 24 hours, there have been six significant transactions by Solana (SOL) whales, even though the crypto market is pessimistic and the price of Solana has decreased. The initial transaction encompassed the transfer of more than 1.5 million SOL tokens, equivalent to $216 million, to an unidentified wallet. This was succeeded by the transfer of 1.13 million SOL tokens, amounting to $163 million, to four distinct wallets. The third transaction entailed the transfer of slightly more than 1 million Solana tokens, equivalent to $144 million, from an unidentified wallet to another unidentified wallet. Additionally, the fifth transaction featured

Binance Exchange Announces New ZK Token Distribution
2 days ago 1 min read

Binance Exchange Announces New ZK Token Distribution to Soothe Community Concerns

Binance exchange has initiated a novel ZKSync token distribution program in response to community complaints. The initiative is scheduled to operate from June 17, 2024, until July 16, 2024. The exchange aims to issue a total of 10.5 million ZK tokens, potentially benefiting a maximum of 52,500 individuals. In order to qualify, individuals must have successfully conducted a minimum of 50 transactions on the ZKSync Era network within the period from February 2023 to March 2024, with the exception of self-transfers. To be considered eligible, addresses must not have previously received tokens from the ZK Nation airdrop and must not