After a failed rally above $31,000 on June 23, Bitcoin (BTC) has sustained the $30,300 resistance for the past three days. Curiously, this happened while gold reached its lowest level in three months, trading at $1,910 on June 22, down from a $2,050 peak in early May. Investors now question how solid Bitcoin’s $30,000 support
Bitcoin (BTC) may see a “market correction” should BTC price action go much beyond $33,000, research warns. In the latest edition of its weekly newsletter, The Week On-Chain, analytics firm Glassnode flagged speculative selling risk on the horizon. Bitcoin speculator profits average 12% Bitcoin short-term holders (STHs) — the more speculative BTC investors — have
Riot Platforms — one of the world’s largest Bitcoin (BTC) mining companies — has bought 33,280 “next-generation” Bitcoin miners for its Texas facility, costing $162.9 million. The rigs, which were sourced from mining manufacturer MicroBT, will boost the firm’s self-mining capacity by 7.6 exahashes per second (EH/s) and comes “in advance” of Bitcoin’s next halving
The blockchain software company Perrsyst has been developing an Ethereum-compatible sidechain in cooperation with Ripple for quite some time now. In October last year, both companies released the first phase of an Ethereum Virtual Machine (EVM) sidechain for the XRP Ledger (XRPL) on the XRPL devnet. The milestone allowed developers to access the XRPL’s features
Australia’s cryptocurrency industry banking woes will likely continue, with the government and major banks signaling no intention to back down against scams that “touch” crypto. During a panel at the Australian Blockchain Week on June 26, Sophie Gilder, managing director of blockchain and digital assets at Commonwealth Bank (CBA) shed light on the bank’s restrictions
There is at least $27 trillion of assets managed by major U.S. financial institutions that are also “actively” seeking to provide clients with exposure to Bitcoin (BTC) and crypto. On June 26, CoinShares chief strategy officer Meltem Demirors highlighted at least eight major financial institutions that have signaled moves in the digital assets space, including
The United States Secret Service has finally shed more light on its bizarre nonfungible token (NFT) collection sitting on OpenSea. The NFT collection was first revealed during a Reddit AMA on May 16, where agents answered questions from members of the r/cryptocurrency subreddit about their involvement in crypto and blockchain tech. Until this time, not
The United States House of Representatives recently adopted new rules banning all use of artificial intelligence (AI) large language models by members, with the sole exception of OpenAI’s ChatGPT Plus service. According to a notice sent from the U.S. House’s chief administrative officer, Catherine Szpindor, chatbot use has been restricted for security purposes: “House offices using
The S&P 500 Index (SPX) snapped a five-week winning streak last week but it is still on track to close the first half of the year with stellar gains of nearly 13%. The tech-heavy Nasdaq Composite has done much better as it is up about 29%. Both these indices have been overtaken by Bitcoin (BTC)
A federal judge overseeing the lawsuit between Binance.US, Binance Holdings Limited and CEO Changpeng “CZ” Zhao and the United States Securities and Exchange Commission (SEC) has denied a motion that could have stopped the financial regulator from issuing public statements related to the case. In a June 26 ruling in the U.S. District Court for
FTX has recovered about $7 billion in liquid assets so far, and the search for additional assets is continuing, CEO John Ray said in the FTX Debtors’ second interim report, released June 26. The extensive commingling of funds complicates their efforts, however. The FTX Debtors, made up of FTX and affiliates, currently estimate the amount
California Rep. Maxine Waters, ranking member of the United States House Financial Services Committee, has called on leadership at federal regulatory agencies to weigh in on a proposed framework for digital assets. In separate letters dated June 23, Waters requested Treasury Secretary Janet Yellen and Securities and Exchange Commission (SEC) Chair Gary Gensler provide information
The recently published Hinman documents in the legal battle between Ripple Labs and the US Securities and Exchange Commission (SEC) have caused quite a stir and strengthened the XRP army’s belief that the fintech will prevail against the regulator. What has attracted little attention, however, are the documents and emails that Ripple has had to
Transactions on the Optimism network surged 67% following its June 7 “Bedrock” upgrade, according to a June 26 Twitter thread from blockchain analytics firm Nansen. The network had been seeing less than 300,000 transactions per day before the upgrade, but this figure increased to over 550,000 by the middle of June. Since Optimism’s Bedrock upgrade
The cryptocurrency market saw an explosion of growth during the 2021 decentralized finance (DeFi) Summer and increased fear of missing out (FOMO), which drove prices of Bitcoin (BTC) and much of the cryptocurrency market to all-time highs. During that time, the total value locked (TVL) across DeFi rose to nearly $180 billion before crashing down
A recent surge in activity surrounding exchange-traded funds has led to the largest weekly inflow for digital asset investment products since July 2022, according to a June 26 report via CoinShares. Totalling $199 million, inflows for the week of 19–23 June turned around a nine-week string of consecutive outflows, with Bitcoin (BTC) representing the lion’s
Bitcoin (BTC) circled $30,500 at the June 26 Wall Street open as bulls held newfound support. Bitcoin ETF hype puts demands on U.S. session Data from Cointelegraph Markets Pro and TradingView showed BTC price action retaining $30,000 around the weekly close. The largest cryptocurrency began the week on a stable note as U.S. markets began
While crypto advocate Davinci Jeremie expected to become a hero to his community after talking about Bitcoin (BTC) and why they should buy at least $1 worth of it 10 years ago, things did not turn out as he expected. In an interview with Cointelegraph, Jeremie shared the story of how he found Bitcoin (BTC),
Venture capital financing in the crypto space is no different from typical VC, except the startups benefiting from financing operate in the cryptocurrency market. Venture capital businesses in the cryptocurrency sector concentrate their investments on startups and initiatives linked to cryptocurrencies, blockchain technology, decentralized finance (DeFi) and other cutting-edge distributed ledger technology applications. Projects creating
On the latest episode of Cointelegraph’s Macro Markets, analyst Marcel Pechman explores how Turkey’s recent interest rate increase might attract hundreds of millions of new cryptocurrency investors, and how China’s looming economic crisis could affect Bitcoin (BTC) and crypto globally. Turkey’s central bank has increased the interest rate by 6.5% to 15% in a dramatic attempt