Bitcoin (BTC) has been steadily making progress towards the $31,000 mark, drawing attention from traders and analysts who eagerly awaited the release of the United States Consumer Price Index (CPI) for June. Despite its gradual rise, BTC exhibited minimal volatility at the beginning of the week, with clearly defined local range highs and lows. Traders
Ark Invest Management, a prominent investment firm, recently made headlines when it sold 135,152 shares of Coinbase, amounting to $12 million. This move is noteworthy considering Coinbase’s positive price performance, reaching a one-year high of $90 on July 11. Moreover, Coinbase has outperformed Bitcoin in the last 30 days, with a growth rate of over
The Russian government’s stance on cryptocurrencies has been a source of confusion and uncertainty for several years. While the Central Bank supports a complete ban on crypto-related activities, other government ministries, including finance, trade, and energy, have expressed a desire to legalize and regulate cryptocurrency. This conflicting approach has created a deadlock between these bodies,
As Bitcoin continues to gain popularity and value, concerns about its energy consumption have become more prevalent. However, a recent report by Coinmetrics suggests that the energy efficiency of Bitcoin has significantly improved over the past five years. The report also sheds light on the dominance of three specific mining rig models in the Bitcoin
The recent lawsuit filed by Cameron and Tyler Winklevoss, the billionaire twins who own the crypto exchange Gemini, against Barry Silbert’s cryptocurrency conglomerate Digital Currency Group (DCG) has raised eyebrows in the industry. While the lawsuit accuses DCG and its CEO Barry Silbert of defrauding creditors, many speculate that there might be ulterior motives behind
Renowned author Robert Kiyosaki, known for his personal finance book “Rich Dad Poor Dad,” has recently voiced his pessimism about the future of the US dollar. This comes as reports of BRICS nations planning to introduce a gold-backed currency become more prominent. Kiyosaki’s belief in the impending “death” of the US dollar coincides with his
Over the past 18 days, the price of Bitcoin has been trading in a narrow range of $29,900 to $31,160, much to the perplexity of investors. Despite a significant rally in mid-June that pushed Bitcoin to its highest price in over a year, the cryptocurrency has struggled to maintain prices above $31,000. This price stagnation
Cardano’s native token ADA experienced a significant setback in June when the United States Securities and Exchange Commission (SEC) categorized it as a security in its legal actions against Binance and Coinbase. This classification resulted in a 42.5% drop in ADA’s price, plunging it to a two-year low of $0.21 within a few days. Furthermore,
The Bitcoin market is currently witnessing a significant shift in the distribution of BTC supply. According to on-chain analytics firm Glassnode, the amount of Bitcoin held on exchanges has dropped to levels not seen since the all-time high in 2017. This trend has caught the attention of market participants and analysts as it indicates a
The recent enactment of the Markets in Crypto-Assets (MiCA) legislation by the European Union on May 31 has left the crypto industry buzzing with excitement and concern. While hailed as a groundbreaking regulatory framework for cryptocurrencies, one particular aspect of the legislation has caused apprehension among industry players: the introduction of a daily transaction cap
