Browsing:Crypto News

Bitcoin Retreats Below $31K Following Promising Late Monday Rally
10 months ago 1 min read

Bitcoin Retreats Below $31K Following a Late Monday Surge

Bitcoin experienced a short-lived return to its recent high above $31,000 on Monday before dipping slightly below that threshold. The cryptocurrency saw a nearly 2% increase over the past 48 hours, as investors regained enthusiasm following spot bitcoin ETF filings by financial giants like BlackRock. Despite recent volatility driven by inflation concerns, positive events in the crypto industry have helped buoy Bitcoin’s price. Spot ETF Filings and Regulatory News The recent surge in Bitcoin’s price can be attributed to a number of factors, including the spot Bitcoin ETF filings that took place in June. These filings were seen as a

Is Cardano's Breakout Imminent? Network Activity and ADA's Oversold Price Suggest So
10 months ago 2 mins read

Cardano Network Activity Signals Potential Breakout as ADA Price Remains Oversold

Cardano’s native token, ADA, has faced significant setbacks in recent months due to regulatory scrutiny from the United States Securities and Exchange Commission (SEC). However, the network’s DeFi ecosystem has continued to flourish, providing a glimmer of hope for ADA bulls. Hydra Upgrade Boosts DeFi Activity In May 2023, Cardano launched the Hydra upgrade, a layer-2 scaling solution that has significantly improved the network’s throughput and scalability. This upgrade has led to a surge in DeFi activity on Cardano, with the total amount of ADA deposited in DeFi applications reaching twice its peak value during the 2021 bull market. Decentralization

Hackers Exploit Rodeo Finance, Draining $888,000 in Latest DeFi Attack on Arbitrum Network
10 months ago 1 min read

Arbitrum Network-based Rodeo Finance Loses $888,000 in DeFi Exploit

Arbitrum Network-based Rodeo Finance lost 472 ether ($888,000) in a DeFi exploit today. The hacker exploited the protocol by manipulating price feeds, which allowed them to steal the funds. The hacker transferred the stolen funds from Arbitrum to Ethereum, and then exchanged them for various other assets before converting them back to ether. They then funneled the funds through the sanctioned crypto mixer Tornado Cash to obfuscate the trail. This is the third exploit on the Arbitrum Network in the last four months. In April, Arbitrum-based Sentiment lost $1 million to a DeFi exploit, and in May, Jimbos protocol lost

Justin Sun withdrew 30,000 ETH worth approximately $56 million from Lido
10 months ago 1 min read

Tron Co-Founder Unstakes $56 Million Worth of Ethereum Through Lido: What Does It Mean for ETH Prices?

Justin Sun, the co-founder of Tron, recently withdrew 30,000 ETH (worth approximately $56 million) from Lido, a liquidity staking service provider, according to Lookonchain, a blockchain analytics platform. This move reduced Sun’s Ethereum stake via Lido to 263,294 ETH, equivalent to $491.6 million at current rates. The exact reasons behind Sun’s withdrawal of 30,000 ETH are unclear. It could signal his intention to sell some of the Ethereum, transfer it to a different staking platform, or perhaps run his private Ethereum validator node. Despite Sun’s unstaking, he remains one of the largest stakers at Lido, accounting for over 9% of

Standard Chartered Bank Sets Bullish Price Target of $50,000 for Bitcoin by the Close of 2023
10 months ago 1 min read

Standard Chartered Bank Predicts Bitcoin to Hit $50,000 by End of 2023, $120,000 by 2024

Leading financial institution Standard Chartered has made a bold prediction for Bitcoin’s price, forecasting that the cryptocurrency could surge to $50,000 by the end of this year and reach an impressive $120,000 by the conclusion of 2024. The bank’s FX analyst, Geoff Kendrick, suggests that there is a 20% potential upward movement from their initial prediction of $100,000 for Bitcoin’s value by 2024. Standard Chartered’s optimistic projection has the potential to stimulate Bitcoin miners, driving increased accumulation of the cryptocurrency’s supply. The growing institutional interest in Bitcoin is evident, as investment giant BlackRock recently filed an application for a Bitcoin

Shibarium
10 months ago 1 min read

Shibarium Ready to Launch Following Successful Toronto Conference

Shibarium, the highly anticipated layer 2 blockchain, is poised to make its debut following the upcoming Toronto conference in August. Developer Shytoshi Kusama announced this exciting news in a blog post, outlining the key features that will be showcased during the event. Layer 2 technology plays a vital role in addressing scalability concerns by utilizing off-chain systems built on top of layer 1 protocols. These systems consolidate multiple off-chain transactions into a single layer 1 transaction, reducing data load and fees. During the conference, Kusama plans to present the completed Worldpaper, along with detailed insights into all Shib-branded projects and

Shiba Inu Witnesses Massive Transaction Volume of $46.45 Million in a Single Day
10 months ago 2 mins read

Shiba Inu Records Seven-Day High in Transaction Volume, Reaching $46.45 Million

Shiba Inu (SHIB) whales have been making significant moves, as evidenced by a remarkable surge in the cryptocurrency’s large transaction volume. In the past 24 hours alone, the large transaction volume has skyrocketed by a massive 361.39%, reaching a total of $46.45 million. This surge marks a seven-day high for Shiba Inu, according to data from IntoTheBlock. During the recent 24-hour period, an astounding 6.36 trillion SHIB tokens were transacted in large volumes. This volume represents the highest recorded in the past seven days. IntoTheBlock’s Large Transactions Volume Indicator provides insights into the total amount of tokens transacted by whales

Bitcoin Whales Make a Splash with 71,000 BTC Purchase in Recent Buying Spree
10 months ago 2 mins read

Whale Alert: Bitcoin Whales Acquire 71,000 BTC in Recent Accumulation Spree

Bitcoin’s largest holders, known as sharks and whales, have been actively accumulating more BTC despite the recent sideways trading and stagnant price action. According to on-chain analytics firm Santiment, these high-net-worth addresses holding 10 to 10,000 BTC have added a substantial 71,000 BTC to their portfolios in the past three weeks. This accumulation, worth approximately $2.15 billion, indicates a strong bullish sentiment among Bitcoin’s major players. Santiment Data Shows Whale Accumulation Santiment’s data shows that the accumulation of 71,000 BTC by these large addresses demonstrates their continued confidence in the long-term prospects of the leading cryptocurrency. The accumulation trend has

Blur (BLUR)
10 months ago 2 mins read

Over 98% of BLUR Token Holders in Loss, Data Shows

Blur (BLUR), a once-promising cryptocurrency, has encountered a significant setback as recent data indicates that 98.88% of BLUR holders are currently facing financial losses. The token gained substantial attention and popularity upon its release, with early buyers profiting handsomely as the value of BLUR skyrocketed. However, subsequent developments and market conditions have contributed to a sharp decline in its value. When Blur was introduced in October of the previous year, it quickly positioned itself as the platform of choice for professional NFT traders. It even offered a token airdrop to entice users to choose Blur over competitors like OpenSea. The

Investigation Launched as $160 Million Bitcoin Transfer Raises Suspicion around Luna Foundation Guard
10 months ago 1 min read

Questions Arise as $160 Million Worth of Bitcoin Transferred, Luna Foundation Guard Investigated

In a recent development, an unknown entity has executed a significant Bitcoin transfer, worth over $160 million, from a wallet connected to the Luna Foundation Guard (LFG). This organization is associated with Terraform Labs and its co-founder, Do Kwon. The transfer has raised questions and intensified ongoing investigations surrounding Terra and its affiliated entities. On July 3, the unidentified party moved 5,292 Bitcoin (BTC), equivalent to approximately $30,719 per coin, from an LFG address to a wallet that does not appear to be linked to Terra. This transfer is part of a series of movements of crypto assets from LFG-controlled

Solana (SOL) Witnesses Unprecedented $1 Billion Inflows
10 months ago 1 min read

Solana (SOL) Sees Over $1 Billion Inflows in 24 Hours: Key Factors Behind the Pump

As the cryptocurrency market trades sideways, Solana (SOL), a decentralized finance (DeFi) platform, stands out with significant buying pressure and impressive price gains. With a market capitalization of $8.96 billion and a $1.02 billion inflow in the last 24 hours, SOL has demonstrated its strength and resilience in the face of market uncertainties. SOL’s price trajectory has remained positive, holding above the $20 support level and currently valued at $22.17 with nearly 12% daily gains. The asset has seen a weekly increase of over 20%. While the exact catalyst for this surge is not identifiable, it coincides with notable network

Ethereum (ETH) have been transferred to major cryptocurrency exchanges
10 months ago 2 mins read

Ethereum Whales Transfer $140 Million to Crypto Exchanges

In a recent development within the Ethereum (ETH) ecosystem, substantial amounts of digital assets have been transferred to major cryptocurrency exchanges, totaling approximately $140 million. The movement of funds to exchanges follows a decrease in the supply of the second-largest cryptocurrency, which occurred throughout the month of June. According to data reported by Whale Alert, a renowned whale monitoring service, multiple transactions worth millions of dollars have taken place, with the cryptocurrency being sent to prominent exchanges such as Coinbase, Kraken, and OKX. One notable transfer involved the movement of 20,000 ETH, valued at over $38 million, from Arbitrum (ARB),

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