Author: News Room
Over the past week, the stablecoin trueusd (TUSD) experienced a notable decrease in its supply. As of March 19, 2024, the circulation was approximately 1.1 billion TUSD, which then plummeted to just 612 million. Supply Slash Sees TUSD Fall From Top 5 Stablecoin Rankings to 8th Position Previously ranked among the top five dollar-pegged cryptocurrencies […] Read the full article here
A top trader who rode the 2023 crypto breakout warns that Bitcoin (BTC) bulls have about a week to avert a potentially catastrophic scenario. Pseudonymous analyst DonAlt tells his 532,100 followers on the social media platform X that Bitcoin’s monthly chart is very close to flashing a strong bearish signal. The trader shares a chart showing that BTC was rejected at the high time frame resistance of $70,000, suggesting that Bitcoin’s multi-month rally from around $20,000 may be coming to an end. “Monthly needs to close green otherwise that’s a strong sell signal on the most important high time frame…
After a decade of waiting, rejecting, and delaying at best, the United States Securities and Exchange Commission finally greenlighted nearly a dozen spot Bitcoin ETFs at the start of 2024. Their impact on BTC’s price has been undeniable as the demand for those products among traditional investors has skyrocketed. Now that there are existing exchange-traded funds tracking the performance of at least one cryptocurrency, the community speculates on whether there will be a follow-up, particularly with ETH. The ETH ETF Applications Numerous companies within and outside of the cryptocurrency industry want to follow the example with Bitcoin and have products…
In a recent statement, Adam Back, CEO and cofounder of blockchain technology firm Blockstream, expressed optimism about the Bitcoin Exchange-Traded Fund (ETF) launched earlier in January. Back’s bullish statement on Bitcoin ETF Taking to the X platform, Back offered a bullish stance on Bitcoin ETF, stating, “The Bitcoin ETFs are still not priced in.” Back outlined many major points that contribute to his bullish stance on Bitcoin ETFs. First, he mentioned that bankruptcies are running out of Grayscale’s GBTC in just a few days of the ETF launch. Furthermore, Back highlighted an influx of capital into Bitcoin ETFs, with buy…
Ethereum co-founder Vitalik Buterin said Thursday that the amount of “usage” he’s seen from layer-2 networks following last week’s milestone Dencun upgrade has been lower than expected. In response to a question submitted by Rug Radio at ETH Taipei on Thursday, Buterin hedged when asked whether Dencun’s implementation has been better than he expected. “It depends what you mean by better,” the prominent crypto developer replied. Buterin proceeded to laud Ethereum’s developers for implementing the update “flawlessly,” before reflecting on what he considered to be Dencun’s lackluster contribution to network traffic on layer-2 networks since going live last Wednesday. “The…
We’ve provided a more precise breakdown of how an investor could make $1 million from his VeChain investment when the price of VET hits $5 or $10. Many crypto investors hope to become millionaires in U.S. dollars by investing in their favorite coins. Interestingly, several experts consider VeChain (VET) an altcoin that could make this goal a reality. This article will highlight the number of VeChain coins you need to become a millionaire when VET hits $5 and $10, respectively. Analysts See VeChain Hitting $2, $5, and $10 Although several altcoins have outperformed VET in the ongoing bull run, some…
John Hoffman, Head of Distributor Partnerships at Grayscale Investments, discussed the emergence of Spot Bitcoin ETFs, their performance, and Grayscale’s important role in the crypto market at a recent NYSE Floor Talk event with Judy Shaw. Spot Bitcoin ETFs represent a combination of two groundbreaking financial innovations, Bitcoin and ETFs. Hoffman highlighted how ETFs have revolutionized investing by simplifying and making it more accessible, while Bitcoin is the world’s leading digital asset with a market capitalization exceeding one trillion dollars. When asked about his recent performances, Hoffman described a promising trend. Despite a slight initial sell-off following GBTC’s listing, Bitcoin’s…
The growth has not lasted long, according to CoinMarketCap. DOGE/USD The rate of DOGE has declined by 1.77% over the last 24 hours. On the hourly chart, the price of DOGE has broken the local support level of $0.1519. Until the rate is below that mark, bears are more powerful than bulls. In this case, the correction may continue to the $0.14 zone. On the daily time frame, the price of the meme coin has once again bounced off the $0.16 area, which means that buyers are not ready yet to get back in the game. If the bar closes…
In a recent post on the X social media platform, Ripple CEO Brad Garlinghouse has predicted that the U.S. Securities and Exchange Commission (SEC) is on track to lose its “war” against Ethereum (ETH). According to Garlinghouse, the SEC is already “losing badly” in the court while falling below international counterparts in terms of regulatory standards. Earlier this week, various media outlets reported that the SEC has launched an aggressive campaign to label the second-largest cryptocurrency as a security. The Ethereum Foundation is also facing an ongoing investigation. As reported by U.Today, Paul Grewal, chief legal officer at Coinbase, took…
As the world of cryptocurrency gears up for Bitcoin’s much-anticipated halving event in April 2024, investors and enthusiasts alike are speculating about its potential impact on the market. Karl Devin, a key figure in the Strategy & Operations (Crypto) team, sheds light on the significance of this event and what it could mean for the future of Bitcoin. Of course the Bitcoin Halvening is on 4/20— Cameron Winklevoss (@cameron) March 17, 2024 Bitcoin’s programmed scarcity mechanism, known as halving, is a cornerstone of its design and a key factor in its potential value proposition. Halving events, which occur roughly every…