Author: News Room
The anticipated Bitcoin halving is just two weeks away. While historically, it has signaled the start of a price acceleration phase, analysts at CryptoQuant argue that its impact is waning. The forthcoming halving will reduce the new issuance by 14,000 BTC on a monthly basis, traditionally decreasing sell pressure from miners. However, the once-significant influence of halvings on Bitcoin prices seems to diminish as the new issuance becomes smaller relative to the total supply available for sale. Bitcoin Halving Influence Wanes Long-term holders (LTH) selling, for instance, has averaged 417,000 BTC per month in the last year, overshadowing the monthly…
Recent market data highlights that spot bitcoin exchange-traded funds (ETFs) in the United States experienced a net outflow of $223.8 million on April 8, while Grayscale’s Bitcoin Trust (GBTC) saw a substantial outflow of $303 million. GBTC Continues to Face Steep Outflows As of yesterday, GBTC possessed 325,686.78 BTC, but as per Grayscale’s website, this […] Read the full article here
Richard Teng, CEO of the world’s largest cryptocurrency exchange, Binance, believes the trading giant is past the cultural issues after it settled criminal charges from the United States Department of Justice (DOJ) with a $4.3 billion fine. During an interview with CNBC, Teng said Binance had moved past the early stage of its development, where there were no clear rules, and it had to operate in a certain way to stay relevant. Binance Has Moved Past Cultural Issues In November 2023, the DOJ unsealed a criminal indictment against Binance, accusing the firm of willfully floundering the Bank Secrecy Act and…
Selling pressure from long-term and short-term holders contributes to bitcoin price fluctuations nearing the next halving event. Bitcoin faces selling pressure nearing halving event: Bitfinex Bitcoin (BTC) has shown considerable price volatility recently with fluctuations around the $70,000 level as holders realize profits, according to the latest “Bitfinex Alpha” report. Both short-term (STH) and long-term holders (LTH) are shedding a part of their positions as the next halving event approaches. “Bitcoin is currently experiencing a consolidation phase, navigating a sideways range between $65,000 (range low) and $71,000 (range high). This movement indicates that the price is beginning to stabilize, even…
The cross-border payment industry is expected to reach $250 trillion by 2027 as Ripple, Stellar, Swift, etc race for dominance. It is reported that this industry grew by $25 trillion to reach $150 trillion between 2018 to 2022. The battle for supremacy in the cross-border payment industry hits a new level as Stellar, Ripple, Cardano, Hedera, Swift and FedNow double down efforts with innovations. According to a report, the industry grew by $25 trillion to reach over $150 trillion between 2018 to 2022. This is almost the entire size of the global technology industry in 2023. As disclosed in a…
Tensor Foundation, the entity behind Solana’s non-fungible token (NFT) marketplace Tensor, launched today its governance token TNSR. A total of 125 million TNSR was airdropped to users who interacted with Tensor, which is 12.5% of the total supply, and the claim period is 180 days. The TNSR price started at $1.19, and data aggregator CoinGecko shows that it leaped over 51% in the four hours after its launch, now sitting at $1.81 at the time of writing. TNSR’s fully diluted value surpassed $1.7 billion, and the token is already listed on the largest centralized exchanges by trading volume, such as…
Prominent global exchange KuCoin has declared support for Truflation (TRUF), a fast-growing crypto project focused on real-world asset (RWA) tokenization. KuCoin announced the move to list TRUF among tradable assets on its spot platform via its official website and X handle on April 8. 💥World Premiere💥📢 New Listing@truflation $TRUF Gets Listed on #KuCoin! 💎Pair: TRUF/USDT💎Deposit: now open (network: ETH-ERC20, ARB-ERC20)💎Trading: 9:00 on April 9, 2024 (UTC) — KuCoin (@kucoincom) April 8, 2024 Furthermore, in the report, KuCoin expressed satisfaction in adding Truflation’s token to its spot trading platform and recognized it as an excellent project. Accordingly, KuCoin has opened the…
MATIC, the native cryptocurrency of layer 2 solution Polygon witnessed a notable upswing on Monday amid the broader market recovery. With the Bitcoin price breakout from the $70000, the altcoin witnessed accelerated recovery momentum allowing buyers to regain lost ground. Thus, the Polygon coin price rebounded from a 50% retracement level and surged 7% to break the key resistance of the prior correction trend, Read the full article here
U.S. Rep. Patrick McHenry (R-N.C.) is sticking to his guns that Congress can produce a stablecoin regulation law before he retires at the end of the year, despite a volatile political climate and the failure of the full U.S. House to vote on a bill his House Financial Services Committee passed previously. “I think we can get our stablecoin policy set through and signed into law,” McHenry said Tuesday at a Bitcoin Policy Institute event in Washington. “That will be the first sign that there is hope and that there is bipartisanship when it comes to this world of digital…
Solana (SOL) price is witnessing the formation of a potential bearish outcome, which could cause a significant drawdown. The altcoin is not receiving much support from its investors, which could exacerbate the current downtrend. Solana Continues to Lose Value Solana’s price seemed to be doing well for itself, marking two new year-to-date highs in the past month. However, considering the value of SOL compared to what it once was, it appears that the altcoin is undervalued. Despite the high daily revenue of over $1.20 million, Solana has not been able to note a resurgence in the overall value according to…