In an interview with CNBC on Monday, David Marcus, former President of Paypal and Head of Facebook Payments, expressed his belief that Bitcoin (BTC) is the universal protocol for money on the internet. He emphasized Bitcoin’s significance as the flagship cryptocurrency and its core value as a payment solution while discussing its potential as a…
Solana is gaining bearish momentum below $20 against the US Dollar. SOL price is struggling and could drop further toward $16.50 or even $15.00. SOL price is showing bearish signs below $20.00 and $20.50 against the US Dollar. The price is now trading below $20 and the 100 simple moving average (4 hours). There is…
Steakhouse, a decentralized autonomous organization (DAO)-focused financial advisory firm, in collaboration with Phoenix Labs, a research and development company, has put forth a proposal urging the MakerDAO community to consider allocating up to $100 million from its reserves for investment in tokenized US Treasury Bill (T-Bill) products. The proposal, currently in the discussion phase, aims…
For Bitcoin (BTC), the largest cryptocurrency in the market, the month of September has seen a lack of definitive strength from both bulls and bears, resulting in a period of sideways chop and rapid bouts of volatility. Material Indicators, a prominent crypto analysis firm, sheds light on the prevailing market conditions and highlights the intricacies…
A recent report by IntoTheBlock offers new insights into the profitability of meme coin holders, including Dogecoin, highlighting variations in the percentage of holders in profit and whale concentration. Dogecoin, the forerunner in this category, continues to hold its own, with new data underscoring its dominance in terms of profitability for its holders. Dogecoin Holds The…
Recent adjustments by JPMorgan in its estimation of Bitcoin’s production costs have garnered attention. Previously standing at $21,000, JPMorgan’s revised Bitcoin production cost has now been pegged at $18,000. This move is closely tied to the Cambridge Bitcoin Electricity Consumption Index’s (CBECI) decision to update its methodology, highlighting the interconnectedness of financial analyses and industry…
Binance, one of the leading cryptocurrency exchanges, has recently decided to refund users $1 million USDT (Tether) following an incident related to the CyberConnect (CYBER) token. The refund aims to compensate users affected by a price discrepancy on listed CYBER tokens due to liquidity constraints on the Korean cryptocurrency exchange Upbit. Binance Addresses CyberConnect Woes As…
Bitcoin (BTC) has officially dipped below the $26,000 level and is currently trading at $25,800, which coincides with its 200-week Exponential Moving Average (EMA). This EMA has served as a crucial support level, as it played a role in Bitcoin’s rebound on June 15, leading to its yearly high of $31,800. Bitcoin Consolidation Conundrum The…
The possibility of a Bitcoin spot Exchange Traded Fund (ETF) launching in the US, which has gained much attention over the past months, has again made headlines due to Bloomberg ETF analyst Eric Balchunas’s recent suggestions. According to the analyst, should the US Securities and Exchange Commission (SEC) approve BlackRock’s Bitcoin spot ETF, a vast pool of…
In a crucial development for the financial markets, the US Dollar Index (DXY) has surged to its highest level since March, marking a pivotal moment for Bitcoin and the broader crypto sector. The DXY, which gauges the Greenback’s performance against a basket of six major currencies, has extended its gains above the 104.000 mark in the…