Browsing:Bitcoin

bitcoin (BTC) making trading under $30K.
10 months ago 1 min read

Bitcoin ($BTC) Trades Under $30K Ahead of Crucial Fed Rate Decision and Options Expiry Date

The crypto market experienced another day of subdued trading, with bitcoin (BTC) trading below $30,000. Meanwhile, other major cryptocurrencies like Ether (ETH) remained relatively steady, while altcoins such as SOL and XRP showed signs of recovery after facing earlier losses. Despite the overall market drudgery, MKR, the governance token of MakerDAO, managed to secure significant gains due to a token buyback program activation. However, not all tokens fared well, as CNC plummeted by 75% following a significant exploit in the Conic Finance decentralized finance protocol. As investors anticipate a possible Federal Reserve interest rate increase and bitcoin options expiry next

XRP Witnesses Remarkable Surge of Over 70% as Judge Favors Ripple in SEC Lawsuit
10 months ago 1 min read

Ripple’s XRP Surpasses Bitcoin in Trading Volume After a 60% Surge Over the Week

XRP, the native token of the XRP Ledger, has taken the cryptocurrency market by storm with a remarkable 60% price surge in just one week. Notably, XRP’s trading volume has skyrocketed to an impressive 21% of the entire market, surpassing Bitcoin’s trading volume, which stands at 20%. The surge came on the heels of a significant legal victory for Ripple, the major player in the XRP space, in its battle against the U.S. Securities and Exchange Commission (SEC). The court ruling declared that XRP is not necessarily a security, igniting bullish sentiments among analysts and projecting potential growth for the

BTC Slides Below $30K
10 months ago 1 min read

Bitcoin Plunges Below $30K, Hits Lowest Level Since June as Altcoins Trim XRP Lawsuit-Induced Gains

The cryptocurrency market experienced a pullback following last Thursday’s impressive gains, with Bitcoin and altcoins facing notable declines. After touching new highs, the market is now seeing some corrections. Additionally, we’ll examine how altcoins have been affected and explore the performance of Lido Finance’s governance token, LDO. Bitcoin, the leading cryptocurrency, slipped approximately 2% in the past 24 hours, falling to $29,834. Although experiencing a pullback, Bitcoin remains resilient, bouncing modestly at press time to $30,025. Ether, the second-largest cryptocurrency by market cap, also recorded a 2% decline over the same period, dropping to $1,880. While both cryptocurrencies have retreated

Binance Embraces Bitcoin Lightning Network Integration, Enhancing User Experience
10 months ago 2 mins read

Binance Successfully Integrates Bitcoin Lightning Network, Enhancing Transaction Speed and Scalability

Cryptocurrency exchange Binance has successfully integrated the Bitcoin Lightning Network on its platform, offering its users the option to use the layer-2 scaling solution for BTC withdrawals and deposits. This move comes as Binance seeks to enhance transaction speed and reduce costs amid a surge in Bitcoin network gas fees. The Lightning Network allows users to create off-chain transaction channels, making Bitcoin transactions faster and more cost-effective. In a recent blog post on July 17, Binance confirmed the completion of its Lightning Network integration, offering users the ability to choose “LIGHTNING” as an option for BTC withdrawals and deposits. Alongside

Larry Fink Unveils Striking Interest in Bitcoin and Ethereum from Gold Investors
10 months ago 2 mins read

BlackRock CEO Larry Fink Confirms Increasing Interest in Bitcoin and Ethereum Among Gold Investors

BlackRock’s CEO Larry Fink recently shared his optimism about the increasing demand for cryptocurrencies like Bitcoin among gold investors. During an interview on CNBC, Fink highlighted the interest of gold investors in exploring the role of crypto, noting the potential for exchange-traded funds (ETFs) to democratize access to both gold and digital currencies. Fink revealed that over the past five years, there has been a growing number of gold investors inquiring about cryptocurrencies. The recent depreciation of the dollar and the appreciation of digital assets like Bitcoin have sparked interest in international crypto products that can transcend traditional currency limitations.

On-Chain Analysis Uncovers U.S. Government's Transfer of $300M Worth of Silk Road Bitcoin
10 months ago 1 min read

U.S. Government Wallets Linked to Silk Road Seizure Move Over $300M Worth of Bitcoin

On Wednesday morning, on-chain data revealed that two wallets connected to the U.S. government, which were linked to the seizure of crypto from the Silk Road, have moved over $300 million worth of bitcoin (BTC) in three separate transactions. Following the transactions, the price of Bitcoin experienced a temporary decline of 0.8% to $30,480. However, it has since recovered to $30,660 as of press time. Bitcoin’s block explorer provides insights into the movement of funds, indicating that the government-controlled wallets sent a total of 9,825 bitcoin, equivalent to $301 million. This significant transfer of funds raises questions about the intentions

Binance US crypto exchange has resolved a technical issue that temporarily suspended BCH withdrawals on its platform.
10 months ago 1 min read

Binance US Resolves Bitcoin Cash (BCH) Withdrawal Issue And Addresses FUD

Binance US, the American arm of the leading cryptocurrency exchange Binance, has resolved a technical issue that temporarily suspended BCH withdrawals on its platform. The exchange assured users that their assets were safe and secure throughout the process and that the issue was not related to any liquidity problems. Technical Issue Resolved The technical issue that affected BCH withdrawals on Binance US was related to the platform’s deposit transfer system. This system automatically transfers funds from customers’ individual deposit wallets to the platform’s hot and cold wallets for enhanced security. However, the technical glitch prevented BCH deposits from being transferred

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

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

Bitcoin mining company Marathon Digital reported a 21% decrease in Bitcoin mined in June
10 months ago 1 min read

Bitcoin Mining Company Reports 21% Drop in June Revenues

Bitcoin mining company Marathon Digital reported a 21% decrease in Bitcoin mined in June, citing harsh weather conditions in Texas and a significant fall in transaction fees as contributing factors. The company’s main operations in Texas produced 979 Bitcoin, a notable decline compared to the previous month due to the transition from spring to summer. National Weather Service data revealed a substantial increase in temperature in Texas during June, which has historically disrupted crypto mining operations in the state. The impact of weather conditions on mining operations was evident earlier this year when Riot Platforms experienced a temporary halt in

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

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

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