Binance Coin (BNB) Skyrockets to New All-Time High, Market Cap Bigger Than UBS, Starbucks
Binance Coin exploded above $700 for the first time ever.
The native token of the world’s largest cryptocurrency exchange has somewhat been on the sidelines during the 2024 bull run, but has finally managed to emerge as a top performer by soaring past $700 and tapping a new all-time high.
Its market cap has gone on a tear as well, exceeding $100 billion and surpassing companies like UBS, Dell, Starbucks and others.
Binance has been in a legal spat in several jurisdictions, with the most recent and active one against Nigerian authorities. Local company execs were detained while the company is trying to free them, which is not going well for now.
However, the biggest blow against Binance came at the end of last year, when the exchange agreed to pay $4.3 billion in a settlement deal with the US Department of Justice without admitting guilt to failing to incorporate proper anti-money laundering rules.
Moreove...
Binance Coin exploded above $700 for the first time ever.
The native token of the world’s largest cryptocurrency exchange has somewhat been on the sidelines during the 2024 bull run, but has finally managed to emerge as a top performer by soaring past $700 and tapping a new all-time high.
Its market cap has gone on a tear as well, exceeding $100 billion and surpassing companies like UBS, Dell, Starbucks and others.
Binance has been in a legal spat in several jurisdictions, with the most recent and active one against Nigerian authorities. Local company execs were detained while the company is trying to free them, which is not going well for now.
However, the biggest blow against Binance came at the end of last year, when the exchange agreed to pay $4.3 billion in a settlement deal with the US Department of Justice without admitting guilt to failing to incorporate proper anti-money laundering rules.
Moreove...
Why Crypto Crime In Asia Is Becoming More Problematic
The crypto industry is inundated with scams and crime. How Asia should be dealing with crime remains to be seen.
Across Asia Pacific, criminals are using cryptocurrency to fund increasingly nefarious schemes. While early crime involving digital assets tended to target crypto exchanges themselves, the most infamous being the 880,000 Bitcoin stolen from Japan’s Mt. Gox between 2011 and 2014 now worth $45 billion – today digital assets are linked to money laundering, large-scale scams and funding of illegal arms programs.
Crypto proponents usually insist that proper regulation can do much to mitigate this problem. Though regulation can boost investor protection and establish rules of the road, we believe that decentralized virtual currencies’ inherent nature means that potential for abuse will remain high.
Regulators in some major jurisdictions in the region have come to similar conclusions and are acting accordingly.
China Confronts Digital Assets Cri..
The crypto industry is inundated with scams and crime. How Asia should be dealing with crime remains to be seen.
Across Asia Pacific, criminals are using cryptocurrency to fund increasingly nefarious schemes. While early crime involving digital assets tended to target crypto exchanges themselves, the most infamous being the 880,000 Bitcoin stolen from Japan’s Mt. Gox between 2011 and 2014 now worth $45 billion – today digital assets are linked to money laundering, large-scale scams and funding of illegal arms programs.
Crypto proponents usually insist that proper regulation can do much to mitigate this problem. Though regulation can boost investor protection and establish rules of the road, we believe that decentralized virtual currencies’ inherent nature means that potential for abuse will remain high.
Regulators in some major jurisdictions in the region have come to similar conclusions and are acting accordingly.
China Confronts Digital Assets Cri..
Checking Ethereum’s reaction to Circle’s $60M USDC burn
- Circle, the company behind USDC, pulled $60 million worth of USDC from circulation on the Ethereum network.
- Activity on the Ethereum network declined, the number of NFT trades on the network also fell.
Ethereum [ETH] witnessed a massive surge in interest over the last few days due to the hype around the Ethereum ETF.
USDC gets burned
Circle, a company that issues the USDC stablecoin, permanently removed $60 million worth of USDC from circulation. They did this on the Ethereum blockchain network.
Circle’s burning of USDC on Ethereum presents a double-edged sword for the network. On the positive side, fewer USDC tokens could translate to lower transaction fees and gas costs for all users due to potentially reduced network congestion.
This would be beneficial for everyone using the Ethereum ...
- Circle, the company behind USDC, pulled $60 million worth of USDC from circulation on the Ethereum network.
- Activity on the Ethereum network declined, the number of NFT trades on the network also fell.
Ethereum [ETH] witnessed a massive surge in interest over the last few days due to the hype around the Ethereum ETF.
USDC gets burned
Circle, a company that issues the USDC stablecoin, permanently removed $60 million worth of USDC from circulation. They did this on the Ethereum blockchain network.
Circle’s burning of USDC on Ethereum presents a double-edged sword for the network. On the positive side, fewer USDC tokens could translate to lower transaction fees and gas costs for all users due to potentially reduced network congestion.
This would be beneficial for everyone using the Ethereum ...
London Blockchain Conference 2024
The London Blockchain Conference 2024 is all wrapped up! Those of us who attended are now either taking a rest, recovering from colds and jetlag, or back at work. It all happened so fast that memories are still a blur, but here are a few of the things that stood out for me.The London Blockchain Conference 2024 was in many ways similar to the LDNBlockchain23… and yet completely different. The two events happened in different Londons. For starters, 2023 was in the middle of Westminster, surrounded by extremely British institutions that scream solidity and tradition, like Parliament, Buckingham Palace, Whitehall, and Westminster Abbey. The LDNBlockchain24 went east to the more modern Docklands precinct and London ExCel,...
The London Blockchain Conference 2024 is all wrapped up! Those of us who attended are now either taking a rest, recovering from colds and jetlag, or back at work. It all happened so fast that memories are still a blur, but here are a few of the things that stood out for me.The London Blockchain Conference 2024 was in many ways similar to the LDNBlockchain23… and yet completely different. The two events happened in different Londons. For starters, 2023 was in the middle of Westminster, surrounded by extremely British institutions that scream solidity and tradition, like Parliament, Buckingham Palace, Whitehall, and Westminster Abbey. The LDNBlockchain24 went east to the more modern Docklands precinct and London ExCel,...
Solana’s Price Struggles Amid Key Support Levels, Analysts Warn of Potential Dip
Solana (SOL) is at a critical point, dealing with indecisiveness during a complex corrective phase. The cryptocurrency’s price fluctuates within a wave structure, struggling to establish a definitive low in wave b. Analysts “Morecryptoonl” predict a potential dip towards $150, highlighting the balance between upward and downward movements.
The technical chart shows an ongoing wave formation, with Solana yet to establish a solid bottom in wave b. The price is currently around significant support levels: the 0.618 Fibonacci retracement at $155.70 and the 0.786 level at $147.82. These levels are crucial and could act as springboards for a price rebound if they hold firm.
The crypto analyst highlighted Solana’s lack of clear, high-quality trade setups. The analyst stressed the importance of the $147 support level, noting that maintaining this threshold keeps the possibility of price increases alive. However...
Solana (SOL) is at a critical point, dealing with indecisiveness during a complex corrective phase. The cryptocurrency’s price fluctuates within a wave structure, struggling to establish a definitive low in wave b. Analysts “Morecryptoonl” predict a potential dip towards $150, highlighting the balance between upward and downward movements.
The technical chart shows an ongoing wave formation, with Solana yet to establish a solid bottom in wave b. The price is currently around significant support levels: the 0.618 Fibonacci retracement at $155.70 and the 0.786 level at $147.82. These levels are crucial and could act as springboards for a price rebound if they hold firm.
The crypto analyst highlighted Solana’s lack of clear, high-quality trade setups. The analyst stressed the importance of the $147 support level, noting that maintaining this threshold keeps the possibility of price increases alive. However...
Spot Ethereum ETFs will legitimize crypto, lead to ETH supply crunch – Integral
The launch of spot Ethereum ETF will potentially result in a supply crunch upon launch, crypto accounting software firm Integral on June 3.
The projection mirrors the sentiment around spot Bitcoin ETFs before their launch earlier this year. The ETFs connected to the flagship crypto have since experienced record inflows, with the BTC supply on centralized exchanges falling notably in tandem.
Ethereum supply crunch
Integral anticipates that ETF issuers will buy and hold large amounts of ETH, thereby removing a portion of ETH from the open markets and driving up the crypto’s price.
The trend is arguably already underway. Integral cited crypto entrepreneur Oliver Isaacs, who revealed that more than $3 billion of ETH had left exchanges since the SEC approved spot ETH approvals on May 23 — put...
The launch of spot Ethereum ETF will potentially result in a supply crunch upon launch, crypto accounting software firm Integral on June 3.
The projection mirrors the sentiment around spot Bitcoin ETFs before their launch earlier this year. The ETFs connected to the flagship crypto have since experienced record inflows, with the BTC supply on centralized exchanges falling notably in tandem.
Ethereum supply crunch
Integral anticipates that ETF issuers will buy and hold large amounts of ETH, thereby removing a portion of ETH from the open markets and driving up the crypto’s price.
The trend is arguably already underway. Integral cited crypto entrepreneur Oliver Isaacs, who revealed that more than $3 billion of ETH had left exchanges since the SEC approved spot ETH approvals on May 23 — put...
SEC's Gensler Shrugs About New Crypto ETFs Strolling Through His Agency's Gates
- Ethereum checked the necessary box for an exchange traded fund after having traded as futures on the Chicago Mercantile Exchange for years, Gary Gensler told CNBC on Wednesday.
- The SEC chair remained vague about exactly when the industry may see the next major crypto token wrapped in ETFs.
The approval of new exchange traded funds (ETFs) for Ethereum's ether (ETH) is a logical next step to the regulator previously approving spot bitcoin ETFs, U.S. Securities and Exchange Commission (SEC) Chair Gary Gensler seemed to suggest twice on Wednesday.
Despite the crypto industry's widespread belief that Gensler's SEC was planning to block the ETH spot ETF before reversing course and granting the first stage of applications, the head of the agency sped through an account of its ongoing approval process as if it were a casual matter, echoing himself in two separate interviews – in a CNBC appearance and on the sidelines of ...
- Ethereum checked the necessary box for an exchange traded fund after having traded as futures on the Chicago Mercantile Exchange for years, Gary Gensler told CNBC on Wednesday.
- The SEC chair remained vague about exactly when the industry may see the next major crypto token wrapped in ETFs.
The approval of new exchange traded funds (ETFs) for Ethereum's ether (ETH) is a logical next step to the regulator previously approving spot bitcoin ETFs, U.S. Securities and Exchange Commission (SEC) Chair Gary Gensler seemed to suggest twice on Wednesday.
Despite the crypto industry's widespread belief that Gensler's SEC was planning to block the ETH spot ETF before reversing course and granting the first stage of applications, the head of the agency sped through an account of its ongoing approval process as if it were a casual matter, echoing himself in two separate interviews – in a CNBC appearance and on the sidelines of ...
El Salvador plans to advance Bitcoin integration into its banking system
The government of El Salvador has submitted a reform proposal to create a private investment bank. Notably, the proposed reform targets enabling the bank to conduct operations in Bitcoin and the US dollar, said El Salvador’s Ambassador to the US, Milena Mayorga, in a recent post.
In other words, under the new law proposal, the bank can accept deposits, make loans, and potentially offer other financial services using Bitcoin alongside the US dollar.
In addition, the reform aims to allow private banks to seek authorization for digital asset services and Bitcoin services, according to a local media report.
The reform aims to create a legal framework for El Salvador’s private investment bank, facilitating the flow of financial resources towards businesses and gov..
The government of El Salvador has submitted a reform proposal to create a private investment bank. Notably, the proposed reform targets enabling the bank to conduct operations in Bitcoin and the US dollar, said El Salvador’s Ambassador to the US, Milena Mayorga, in a recent post.
In other words, under the new law proposal, the bank can accept deposits, make loans, and potentially offer other financial services using Bitcoin alongside the US dollar.
In addition, the reform aims to allow private banks to seek authorization for digital asset services and Bitcoin services, according to a local media report.
The reform aims to create a legal framework for El Salvador’s private investment bank, facilitating the flow of financial resources towards businesses and gov..
Billionaire Winklevoss Twins Donate $2 Million In Bitcoin To Support Donald Trump
Cryptocurrency billionaires the Winklevoss twins on Thursday announced they are donating $1 million worth of bitcoin each to support Donald Trump, the latest billionaires to back the former president who has increasingly embraced cryptocurrencies on his 2024 campaign trail.
Tyler Winklevoss and Cameron Winklevoss said they will be voting for Donald Trump in November.
Key Facts
In an X post announcing his 15.47 BTC ($1 million) donation, Tyler Winklevoss said he will be voting for Trump in November because he was “pro-Bitcoin, pro-crypto, and pro-business choice” and urged the “crypto army” to do the same.
In his lengthy post, the crypto billionaire attacked the Biden administration, saying it has “openly declared war against crypto” and accused it of weaponizing government agencies to “bully, harass, and sue the good actors in our industry.”
Cameron Winklevoss also said he has donated 15.47 BTC to Trump and said “he will..
Cryptocurrency billionaires the Winklevoss twins on Thursday announced they are donating $1 million worth of bitcoin each to support Donald Trump, the latest billionaires to back the former president who has increasingly embraced cryptocurrencies on his 2024 campaign trail.
Tyler Winklevoss and Cameron Winklevoss said they will be voting for Donald Trump in November.
Key Facts
In an X post announcing his 15.47 BTC ($1 million) donation, Tyler Winklevoss said he will be voting for Trump in November because he was “pro-Bitcoin, pro-crypto, and pro-business choice” and urged the “crypto army” to do the same.
In his lengthy post, the crypto billionaire attacked the Biden administration, saying it has “openly declared war against crypto” and accused it of weaponizing government agencies to “bully, harass, and sue the good actors in our industry.”
Cameron Winklevoss also said he has donated 15.47 BTC to Trump and said “he will..
Gensler confirms spot Ethereum ETFs will be approved ‘this summer’ during Senate hearing
SEC Chair Gary Gensler said the regulator expects to approve the spot Ethereum ETF applications’ S-1 registration forms “sometime over the course of this summer,” which would be the final step before the funds can launch in the US.
Gensler confirmed that the ETFs would be able to launch by the end of summer, well before the November presidential elections.
The watchdog recently approved the related 19b-4 applications filed by stock exchanges in May. However, the approval of S-1 registration forms from individual issuers is still pending.
Gensler said during a Senate hearing on June 13 that:
“Individual issuers are still working through the registration process. That’s working smoothly.”
Senator Bill Hagerty commended Gensler on committing to him that the applications would be approved by the end of summer. He added:
“We’ve gotta get this ma...
SEC Chair Gary Gensler said the regulator expects to approve the spot Ethereum ETF applications’ S-1 registration forms “sometime over the course of this summer,” which would be the final step before the funds can launch in the US.
Gensler confirmed that the ETFs would be able to launch by the end of summer, well before the November presidential elections.
The watchdog recently approved the related 19b-4 applications filed by stock exchanges in May. However, the approval of S-1 registration forms from individual issuers is still pending.
Gensler said during a Senate hearing on June 13 that:
“Individual issuers are still working through the registration process. That’s working smoothly.”
Senator Bill Hagerty commended Gensler on committing to him that the applications would be approved by the end of summer. He added:
“We’ve gotta get this ma...
Solana Faces 18% Decline, Analyst Predicts Potential Surge to $1,042 Despite Volatility
Solana (SOL) has been experiencing heightened volatility, reflecting the broader turbulence in the cryptocurrency market. Recently, it suffered a notable decline of 18% over one month. This downturn is part of a larger corrective phase following an impressive rally earlier this year. Market dynamics are influenced by macroeconomic factors, regulatory developments, and shifts in investor sentiment.
Amidst this backdrop, crypto analyst Patel offers a detailed chart analysis predicting Solana’s potential path. Patel identifies a classic Cup and Handle pattern on the weekly SOL/USDT chart. This pattern typically signals bullish continuation, with the cup formation spanning from mid-2021 to mid-2022, followed by a consolidation phase forming the handle.
The significant resistance zone for Solana is around the neckline, approximately between $200 and $225. This level has historically been a psychologica..
Solana (SOL) has been experiencing heightened volatility, reflecting the broader turbulence in the cryptocurrency market. Recently, it suffered a notable decline of 18% over one month. This downturn is part of a larger corrective phase following an impressive rally earlier this year. Market dynamics are influenced by macroeconomic factors, regulatory developments, and shifts in investor sentiment.
Amidst this backdrop, crypto analyst Patel offers a detailed chart analysis predicting Solana’s potential path. Patel identifies a classic Cup and Handle pattern on the weekly SOL/USDT chart. This pattern typically signals bullish continuation, with the cup formation spanning from mid-2021 to mid-2022, followed by a consolidation phase forming the handle.
The significant resistance zone for Solana is around the neckline, approximately between $200 and $225. This level has historically been a psychologica..
Altcoins Are Ready To Steal The Spotlight From Bitcoin, Here’s Why
Recently, altcoin holders have faced significant stress due to market movements over the past five weeks. Major shifts and turning points often involve extreme pain and patience, causing many to give up. But one has to remember that altcoins can gain momentum only when Bitcoin dominance decreases. Ethereum ETF discussions are heating up, with approvals and trading expected in the first week of July.
The Bitcoin dominance chart shared by Derek on X shows the current situation mirroring peaks in 2017 and 2021, signaling the start of an altcoin bull market. At this critical juncture, there’s a major shift between sellers and buyers.
The upcoming Ethereum ETF S-1 is expected to be a game changer, drawing attention from Bitcoin whales. I believe the altcoin market will react in anticipation before the Ethereum ETF S-1 launch in mid-July. There will be volatility during this period, but staying calm and patient is key to navigating it...
Recently, altcoin holders have faced significant stress due to market movements over the past five weeks. Major shifts and turning points often involve extreme pain and patience, causing many to give up. But one has to remember that altcoins can gain momentum only when Bitcoin dominance decreases. Ethereum ETF discussions are heating up, with approvals and trading expected in the first week of July.
The Bitcoin dominance chart shared by Derek on X shows the current situation mirroring peaks in 2017 and 2021, signaling the start of an altcoin bull market. At this critical juncture, there’s a major shift between sellers and buyers.
The upcoming Ethereum ETF S-1 is expected to be a game changer, drawing attention from Bitcoin whales. I believe the altcoin market will react in anticipation before the Ethereum ETF S-1 launch in mid-July. There will be volatility during this period, but staying calm and patient is key to navigating it...
Cointacted App has been updated, we fixed these bugs:
Core – Error on loading screen in some android devices has been cleared by rectifying core code;
Media – The round x/cancel button and loading progress overlaps when users were uploading videos on Android devices;
Core – Toast Messages were not showing properly in Groups;
Groups – Groups that had long descriptions when trying to edit would not scroll to the top;
Groups – Hidden Parent Group would show an error message “No route was found matching the URL and request method” when leaving a hidden parent group;
Activity – When select a group to post into did not show the search bar properly on iPhone 14;
Core – Editing the description of uploaded media on Android devices stretched the text box;
Core – Black bar appeared in certain pages when scrolling through long text;
Core – UI issues showing on iPhone 14 and iPhone 11 when opening blog categories and Member filter.
Google:
bit.ly/cointacted-app-google
Apple:
bit.ly/cointacted-app-apple
Core – Error on loading screen in some android devices has been cleared by rectifying core code;
Media – The round x/cancel button and loading progress overlaps when users were uploading videos on Android devices;
Core – Toast Messages were not showing properly in Groups;
Groups – Groups that had long descriptions when trying to edit would not scroll to the top;
Groups – Hidden Parent Group would show an error message “No route was found matching the URL and request method” when leaving a hidden parent group;
Activity – When select a group to post into did not show the search bar properly on iPhone 14;
Core – Editing the description of uploaded media on Android devices stretched the text box;
Core – Black bar appeared in certain pages when scrolling through long text;
Core – UI issues showing on iPhone 14 and iPhone 11 when opening blog categories and Member filter.
Google:
bit.ly/cointacted-app-google
Apple:
bit.ly/cointacted-app-apple
History suggests bitcoin will likely hit a new all-time high this year, report says
Bitcoin has not reached the top of its current appreciation cycle and is likely to go past its all-time high this year, according to a research report released by CCData on Tuesday.
Bitcoin hit an all-time high of above $73,700 in March but has since been trading within a range between roughly $59,000 and $72,000.
The journey to the record high in March was largely driven by the approval and launch of the spot bitcoin exchange-traded funds, or ETFs, in the U.S. in January. They have attracted net inflows to date of around $14.41 billion to date, according to CCData, market data provider focused on digital assets.
ETFs allow investors to buy a product that tracks the price of bitcoin without owning the underlying cryptocurrency. Crypto proponents say this has helped legitimize the asset class and make it easier for larger institutional investors to get involved.
The bitcoin "cycle" refers to the period in which the digit..
Bitcoin has not reached the top of its current appreciation cycle and is likely to go past its all-time high this year, according to a research report released by CCData on Tuesday.
Bitcoin hit an all-time high of above $73,700 in March but has since been trading within a range between roughly $59,000 and $72,000.
The journey to the record high in March was largely driven by the approval and launch of the spot bitcoin exchange-traded funds, or ETFs, in the U.S. in January. They have attracted net inflows to date of around $14.41 billion to date, according to CCData, market data provider focused on digital assets.
ETFs allow investors to buy a product that tracks the price of bitcoin without owning the underlying cryptocurrency. Crypto proponents say this has helped legitimize the asset class and make it easier for larger institutional investors to get involved.
The bitcoin "cycle" refers to the period in which the digit..
Bitcoin set for worst week in over a year on Mt. Gox liquidation fears
Bitcoin was set for its biggest weekly fall in more than a year on Friday, as traders fretted over the likely dumping of tokens from defunct Japanese exchange Mt. Gox and further selling by leveraged players after the cryptocurrency's strong run.
The price of the world's largest cryptocurrency slid as much as 8% on the day to $53,523, its lowest since late February.
It was on track for a more than 12% weekly decline, its biggest since early November 2022.
Rival token Ether slid 9% to $2,841 to more than a two-month low.
Media reports said Mt. Gox, the world's leading exchange for cryptocurrencies before it collapsed a decade ago, may start returning bitcoin to creditors, who are seen as likely sellers since the token's worth was only hundreds of dollars in 2014.
"The selling pressure is still related to creditor selling from the failed Mt Gox exchange," said Tony Sycamore, a market analyst at IG.
"However, the acceler...
Bitcoin was set for its biggest weekly fall in more than a year on Friday, as traders fretted over the likely dumping of tokens from defunct Japanese exchange Mt. Gox and further selling by leveraged players after the cryptocurrency's strong run.
The price of the world's largest cryptocurrency slid as much as 8% on the day to $53,523, its lowest since late February.
It was on track for a more than 12% weekly decline, its biggest since early November 2022.
Rival token Ether slid 9% to $2,841 to more than a two-month low.
Media reports said Mt. Gox, the world's leading exchange for cryptocurrencies before it collapsed a decade ago, may start returning bitcoin to creditors, who are seen as likely sellers since the token's worth was only hundreds of dollars in 2014.
"The selling pressure is still related to creditor selling from the failed Mt Gox exchange," said Tony Sycamore, a market analyst at IG.
"However, the acceler...
Multicoin Capital to match up to $1 million in SOL donations to Republican crypto PAC
Multicoin Capital will match Solana (SOL) donations to the Sentinel Action Fund, a political action committee (PAC) supporting pro-crypto Republican senators, for up to $1 million over 10 days.
On July 5, Multicoin Capital Managing Partner Kyle Samani said the firm’s involvement will “double the impact” of donor contributions.
Samani explained the company’s reasons for the initiative, stating:
“Political engagement matters, and it starts with supporting the candidates who believe America needs to remain free for innovation.”
He said that donation matching will help the Sentinel Action Fund add more pro-crypto lawmakers to the US Senate, which will produce “good legislation, good policy results, and good agency nominees.” He called for elected leaders who will defend US citizens’ crypto rights.
Donors can contribute through the PAC website or via Blink, a new Solana feature that allows Backpack wallet users to transac..
Multicoin Capital will match Solana (SOL) donations to the Sentinel Action Fund, a political action committee (PAC) supporting pro-crypto Republican senators, for up to $1 million over 10 days.
On July 5, Multicoin Capital Managing Partner Kyle Samani said the firm’s involvement will “double the impact” of donor contributions.
Samani explained the company’s reasons for the initiative, stating:
“Political engagement matters, and it starts with supporting the candidates who believe America needs to remain free for innovation.”
He said that donation matching will help the Sentinel Action Fund add more pro-crypto lawmakers to the US Senate, which will produce “good legislation, good policy results, and good agency nominees.” He called for elected leaders who will defend US citizens’ crypto rights.
Donors can contribute through the PAC website or via Blink, a new Solana feature that allows Backpack wallet users to transac..
New Whale Acquires More Bitcoin Despite The Ongoing Bearish Trend
Japanese firm Metaplanet continues accumulating Bitcoin tokens, adopting a buy-the-dip strategy amid the ongoing decline. Metaplanet purchased 42.47 BTC coins worth 400 million yen ($2.42 million) when BTC fell to a low of $54,500 earlier in the day.
Metaplanet’s accumulation comes amid heightened fear among investors as crypto asset volatility increases.
Often tagged Asia’s MicroStrategy due to its aggressive Bitcoin accumulation, Metaplanet has expanded its holdings, leveraging Bitcoin’s depressing price.
The company’s additional 42.47 BTC ($2.5 million) purchase brings its total holdings to 203.734 coins valued at 2.05 Billion yen (approximately $12 million). This purchase is the company’s fourth accumulation within the last four months.
*Metaplanet purchases additional 42.47 $BTC* pic.twitter.com/dPotWszW1Y
With the latest purchase, Metaplanet’s market cap is currently at 14.5 billion yen. Its BTC holdings account for over 2 billion..
Japanese firm Metaplanet continues accumulating Bitcoin tokens, adopting a buy-the-dip strategy amid the ongoing decline. Metaplanet purchased 42.47 BTC coins worth 400 million yen ($2.42 million) when BTC fell to a low of $54,500 earlier in the day.
Metaplanet’s accumulation comes amid heightened fear among investors as crypto asset volatility increases.
Often tagged Asia’s MicroStrategy due to its aggressive Bitcoin accumulation, Metaplanet has expanded its holdings, leveraging Bitcoin’s depressing price.
The company’s additional 42.47 BTC ($2.5 million) purchase brings its total holdings to 203.734 coins valued at 2.05 Billion yen (approximately $12 million). This purchase is the company’s fourth accumulation within the last four months.
*Metaplanet purchases additional 42.47 $BTC* pic.twitter.com/dPotWszW1Y
With the latest purchase, Metaplanet’s market cap is currently at 14.5 billion yen. Its BTC holdings account for over 2 billion..
Kraken co-founds Blockchain Security Standards Council
We’re pleased to announce the founding of the Blockchain Security Standards Council (BSSC). This nonprofit organization will seek to establish uniform security standards in the crypto industry.
The BSSC’s participants will address emerging security threats by working toward a consensus of agreed upon standards. Such threats include fraud, nation-state targeted campaigns and protocol and contract exploitation, all of which damage trust in cryptoasset technology.
“Establishing voluntary security standards is a critical component of crypto’s maturation,” said Kraken Chief Security Officer Nick Percoco. “Industry players collaborating to build a stronger overall ecosystem can only help to drive confidence in the overall asset class. We’re proud to play our part in designing these standards that the industry will adhere to.”
The BSSC founding team consists of Kraken, Anchorage Digital, Bastion, Coinbase, Figme..
We’re pleased to announce the founding of the Blockchain Security Standards Council (BSSC). This nonprofit organization will seek to establish uniform security standards in the crypto industry.
The BSSC’s participants will address emerging security threats by working toward a consensus of agreed upon standards. Such threats include fraud, nation-state targeted campaigns and protocol and contract exploitation, all of which damage trust in cryptoasset technology.
“Establishing voluntary security standards is a critical component of crypto’s maturation,” said Kraken Chief Security Officer Nick Percoco. “Industry players collaborating to build a stronger overall ecosystem can only help to drive confidence in the overall asset class. We’re proud to play our part in designing these standards that the industry will adhere to.”
The BSSC founding team consists of Kraken, Anchorage Digital, Bastion, Coinbase, Figme..
Google and Tesla earnings, Trump talks Bitcoin, Ether ETFs: What to watch in the markets this week
After witnessing one of the biggest global IT outages on record, which affected the travel, finance, and healthcare industries worldwide , this week is ready to see more political drama, events, and earnings reports from tech giants.
Let’s take a look at what awaits us:
Major companies will release their earnings report Major tech and other companies will release their earnings reports this week, paving the way for how the second half of 2024 will look like.
Monday. Verizon will release earnings before the opening bell.
Tuesday.
Coca-Cola, Comcast, and UPS are set to release their earnings before the market opens. In the morning, Tesla will report earnings, while General Motors will report earnings in the evening. Alphabet and Visa will release earnings after the closing of the market.
Wednesday
AT&T will report before the opening of the market. Ford and Chipotle will report earnings after the bell...
After witnessing one of the biggest global IT outages on record, which affected the travel, finance, and healthcare industries worldwide , this week is ready to see more political drama, events, and earnings reports from tech giants.
Let’s take a look at what awaits us:
Major companies will release their earnings report Major tech and other companies will release their earnings reports this week, paving the way for how the second half of 2024 will look like.
Monday. Verizon will release earnings before the opening bell.
Tuesday.
Coca-Cola, Comcast, and UPS are set to release their earnings before the market opens. In the morning, Tesla will report earnings, while General Motors will report earnings in the evening. Alphabet and Visa will release earnings after the closing of the market.
Wednesday
AT&T will report before the opening of the market. Ford and Chipotle will report earnings after the bell...
Arthur Hayes Warns: Bitcoin Could Drop Below $50K This Weekend
The cryptocurrency market sentiment is back in “extreme fear” as Bitcoin’s price dropped under $56,000. This recent slump has shaken the market, raising concerns about the future direction of Bitcoin and other major cryptocurrencies.
Arthur Hayes, co-founder of BitMEX, believes Bitcoin could fall further, predicting a price below $50,000 by the weekend.
Crypto Fear & Greed Index Shows Extreme Fear
On September 6, the Crypto Fear & Greed Index , which tracks market sentiment, scored 22, indicating extreme fear among investors. This marked a sharp decline from the previous day when the score stood at 29. Notably, the present score is the lowest since August 8, when the index hit 20.
This shift back into extreme fear signals growing uncertainty among investors. According to the data, Bitcoin has been in the fear region for the past month. Bitcoin’s recent drop in price has contributed to this fear, with its value falling to $55,838...
The cryptocurrency market sentiment is back in “extreme fear” as Bitcoin’s price dropped under $56,000. This recent slump has shaken the market, raising concerns about the future direction of Bitcoin and other major cryptocurrencies.
Arthur Hayes, co-founder of BitMEX, believes Bitcoin could fall further, predicting a price below $50,000 by the weekend.
Crypto Fear & Greed Index Shows Extreme Fear
On September 6, the Crypto Fear & Greed Index , which tracks market sentiment, scored 22, indicating extreme fear among investors. This marked a sharp decline from the previous day when the score stood at 29. Notably, the present score is the lowest since August 8, when the index hit 20.
This shift back into extreme fear signals growing uncertainty among investors. According to the data, Bitcoin has been in the fear region for the past month. Bitcoin’s recent drop in price has contributed to this fear, with its value falling to $55,838...