A curated weekly summary of forward-focused crypto news that matters. This week, a looming US government default may be bullish for BTC, varying global regulatory approaches to Bitcoin creates mixed sentiment, and transaction activity on the Bitcoin blockchain booms because of the ordinals protocol.
Mike McGlone, a senior commodity strategist at Bloomberg, has highlighted Bitcoin’s (BTC) historical patterns of boom and bust, which are closely tied to liquidity. According to McGlone, Bitcoin’s current price level of around $27,000 may be at risk of reversion, considering that it was only $7,000 at the end of 2019 before the massive liquidity…
Ethereum’s (ETH) Beacon Chain has seen significant inflows since staking withdrawals were enabled on April 12th, with over $7.7 billion worth of Ethereum deposited into the contract. This is despite some initial predictions of a flood of outflows following the Shanghai Upgrade. The Beacon Chain is a core component of Ethereum 2.0, the next generation…
The Solana (SOL) blockchain has recently witnessed a divergence in its on-chain activity and the number of new addresses joining its network. Despite an impressive surge in new addresses, SOL’s on-chain activity experienced a decline during May. Meanwhile, the asset’s price has also mirrored its on-chain activity as SOL has been in a downtrend in…
The bearish pressure in Chainlink (LINK) since April 19, 2023, seems to have ended recently. Notably, the asset dropped from $8.57 to a low of $6.37, representing a dip of 25.67% between April and May 11. However, a strong recovery in the LINK market started on May 12 till date. On May 21, 2023, the…
Momentum in the crypto market has ground to a near-halt over the last couple of days and meme coins are suffering the most for it. As market participants remain wary of their investment options, the likes of PEPE, SHIB, and DOGE have continued to decline, signaling an end to the short meme coin bull run…
The Shiba Inu community remains passionate about controlling its price action by eliminating excess tokens in circulation through burn events as the community has continued to burn SHIB tokens. Recent data from Shibburn.com reveals that 3.05 billion SHIB got burnt in eight separate burn transactions in the past seven days. The latest statistics represent a 75%…
Tornado Cash (TORN) has experienced a sudden fall in its market price over the last few hours following news of the DeFi protocol suffering a crypto exploit late yesterday. According to data from CoinMarketCap, Tornado Cash is down 28.25% in the last 24 hours, albeit this only represents a retraced value. Following news of TORN’s…