Browsing:Crypto News

Robinhood sees a 75% increase in crypto trading volume in November
5 months ago 1 min read

Robinhood sees a 75% increase in crypto trading volume in November

Robinhood has seen a significant increase in crypto trading volume, with a 75% month-on-month increase in November. This surge, which was reported in a Form 8-K filing with the US Securities and Exchange Commission on December 4th, represents a significant turnaround for Robinhood after it reported a 55% year-over-year decline in crypto notional volumes in its Q3 results. According to the filing, Robinhood’s crypto notional trading volumes for November were 75% higher than in October. This surge in crypto activity is notable, particularly when compared to relatively unchanged trading volumes for stocks and options contracts during the same time period.

Kenya's bill strategically positions crypto assets as securities
5 months ago 2 mins read

Kenya passes a bill to regulate and tax crypto, aiming to provide clarity and prevent financial crimes

Kenya is set to usher in a new era by introducing the Capital Markets (Amendment) Bill, 2023. This forward-thinking legislation, recently approved by the Finance Committee, will now be debated in the National Assembly, marking an important step in Kenya’s approach to regulating and taxing crypto. The bill strategically positions crypto assets as securities, laying the groundwork for comprehensive regulation. Kenya hopes to achieve legal clarity while also fortifying its financial ecosystem against the potential risks associated with the burgeoning digital currency market. One of the bill’s most important provisions is imposing capital gains tax on crypto transactions, both within

Tether Rides Bitcoin Surge
5 months ago 1 min read

Tether gains over $1.1B from Bitcoin investments

Tether, the issuer of the widely used USDT stablecoin, has made impressive gains of over $1.1 billion from its Bitcoin investments. This lucrative venture has significantly bolstered Tether’s Bitcoin holdings, reaching 57,576 BTC, thanks to the recent surge in Bitcoin prices, which soared past $41,000. According to reports from Chinese journalist Colin, Tether strategically acquired these Bitcoins at an average price of $22,480 each. Notably, a significant portion of these acquisitions occurred before March 2023, allowing Tether to capitalize on the remarkable upswing in Bitcoin’s value. Initiating a proactive investment strategy, Tether commenced allocating 15% of its net profits into

$50 Billion Locked as Ether and Solana Projects Lead the Way
5 months ago 2 mins read

DeFi protocols reach a $50B amid rising asset values and investor interest

Protocols in the decentralized finance (DeFi) space have secured a staggering $50 billion in capital, which is a testament to the growing interest in the field. DefiLlama data shows that this surge, which represents a remarkable $15 billion increase in just six months, is occurring amid rising asset values and an increasing appetite among investors. The emergence of Blast, a new layer 2 project that has drawn deposits totaling over $700 million, is a noteworthy factor in this milestone. The fact that withdrawal restrictions are in place through March only serves to highlight how remarkable this accomplishment is. Notwithstanding the

Adam Back Envisions $700,000 Target, Surpassing Gold
5 months ago 1 min read

This well-known crypto analyst suggests Bitcoin could hit $700K

Adam Back, a well-known cryptographer and supporter of Bitcoin, has made a bold prediction that suggests a rise in the price of the crypto to an astounding $700,000. Back’s optimism isn’t just wishful thinking; it’s also influenced by the state of the cryptocurrency market, specifically the impending halving of Bitcoin and the growing scarcity of this virtual currency. Back provided his prediction on the social media platform X, drawing a link between the recent surge in Bitcoin and the upcoming April halving event. These roughly four-year-old halving events have been shown in the past to be major catalysts for increases

Shibarium Sets Daily Transaction Record Amid Broader Crypto Resurgence
5 months ago 1 min read

Shibarium Daily Transaction Increases Amid Shiba Inu (SHIB) Price Surge

Following Bitcoin’s recent double-digit surge, altcoins are seeing an increase in transactions and values. Shibarium, the layer-2 scaling solution for the popular meme token Shiba Inu, has grown dramatically, particularly in terms of daily transaction volume. According to Shibarium Scan, a monitoring resource, the protocol processed an unprecedented 7.84 million transactions on Tuesday. This is Shibarium’s highest daily transaction volume ever recorded, bringing the total number of transactions since its official launch in April to more than 29.6 million. Shibarium, which was created to alleviate congestion on the Ethereum network, has successfully demonstrated its utility and stability at scale. Shiba

ADA has increased by 23.8% in the last month
5 months ago 1 min read

On-chain data reveals a significant increase in large Cardano (ADA) transactions

According to a recent on-chain data analysis conducted by renowned crypto analyst Ali, there has been a significant increase in large transactions on the Cardano blockchain over the last three months. This surge in whale activity suggests an increase in institutional interest, which could pave the way for Cardano to reach new price levels. Ali’s analysis of transaction data reveals a consistent increase in ADA transfers exceeding $100,000 since August. These transactions, which are frequently associated with crypto “whales” holding large amounts of an asset, are regarded as precursors to potential price rallies. Whales wield significant power over market sentiment

Ethereum (ETH) is trading at $2,270
5 months ago 1 min read

Ethereum (ETH) is trading at $2,270, up 11.73% in the last 7 days

Bybit crypto exchange recently published a research report that sheds light on institutional investors’ strategic moves and provides valuable insights into their evolving asset allocation preferences. The report focuses on significant shifts in the Bitcoin and Ethereum realms, providing insight into the shifting perspectives of market institutional players. A key finding from the study indicates a significant resurgence of interest in Ethereum among institutional investors. Following a brief drop following the Shapella update, Ethereum is regaining favor among institutional investors, who see the cryptocurrency’s untapped potential. The analysis reflects a bullish outlook on Ethereum‘s technical advancements and potential development trajectory,

Bitcoin Tops $41,000, Signaling Market Resurgence
5 months ago 1 min read

Bitcoin Surges Past $41,000, Asserting Dominance in Crypto Markets

Bitcoin has seen an incredible surge, breaking through the $41,000 barrier for the first time in 18 months. The impact has reverberated throughout the derivatives market, resulting in around $190 million in liquidated positions, the majority of which were short positions as traders betting against Bitcoin suffered losses. Bitcoin’s recent price increase has contributed to a significant increase in its market dominance, which now stands at 50.5%. This resurgence highlights Bitcoin’s superior performance in comparison to other cryptocurrencies. Notably, alternative coins (altcoins) like Ethereum, Solana, Cardano, and XRP have followed suit, with positive price trends in the last 24 hours

A crypto hacker who used sophisticated address poisoning attacks on 21 people stole nearly $2 million from Safe Wallet users
5 months ago 1 min read

Hacker Exploits Safe Wallet Users, Stealing Nearly $2 Million

A crypto hacker who used sophisticated “address poisoning attacks” on 21 people stole nearly $2 million from Safe Wallet users in the last week alone. The malicious actor, identified by Scam Sniffer’s analysis of Dune Analytics, is said to have stolen $5 million from 21 victims over the last four months. Between November 26 and December 3, approximately 10 Safe Wallet users were victims of address poisoning attacks, resulting in $2.05 million in losses. This represents a significant increase in the hacker’s activity. According to Scam Sniffer’s investigation, the perpetrator of these attacks has targeted 21 victims in the last

Bitcoin Rockets to New Heights Surpassing $40000
5 months ago 1 min read

Bitcoin Rockets Pass $40,000 Amid ETF Anticipation and Global Factors

Bitcoin has risen to an unprecedented high, surpassing $40,000 for the first time since April 2022. This strong rise is being fueled by a confluence of factors, most notably growing optimism about potential Bitcoin exchange-traded funds (ETFs). The cryptocurrency‘s value increased by over 5.5%, briefly approaching $43,000 before settling around $41,600. This surge occurs against the backdrop of increased excitement surrounding the potential approval of a Bitcoin ETF, a development that has catalyzed the largest inflow of funds into crypto funds in the last two years. The primary driver of this surge is the growing excitement over the potential approval

MicroStrategy Chairman Michael Saylor Notches Over $1.5 Billion Profit on Bitcoin Investments
5 months ago 1 min read

Michael Saylor, the Chairman of MicroStrategy gains over $1.5 billion from his BTC investments

Michael Saylor, the Chairman of MicroStrategy and a prominent Bitcoin investor, has reaped substantial profits surpassing $1.5 billion from his strategic Bitcoin investments. Saylor’s foray into Bitcoin began in September 2020, and his investment journey has proven lucrative, especially amid the recent surge in Bitcoin’s price. The recent rise in the price of Bitcoin to $39,411 has increased the value of his investment to nearly $7 billion. Saylor recently increased his Bitcoin holdings by purchasing 16,130 Bitcoin for $593.3 million, averaging $36,785 per Bitcoin. Profits from this additional investment totaled approximately $42.98 million. Saylor made another Bitcoin purchase in November

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