The recent sluggish price action of Bitcoin has not only led to concerns among investors but has also brought attention to the decline in on-chain activity on the Bitcoin network. Data analytics firm Santiment has revealed that various on-chain metrics, including transaction volume, daily active addresses, and whale transaction count, have all significantly dropped since
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In the past 24 hours, the cryptocurrency market has experienced a significant calm after the storm, halting the bearish assault that was previously dominating. Bitcoin’s price is now hovering around $61K on a Sunday morning, while Ethereum has dropped below the crucial $3K level. Just a day ago, Bitcoin saw a sudden correction, plummeting below
In a surprising turn of events, two of the biggest banks in the United States, JP Morgan and Wells Fargo, have recently announced their foray into the world of cryptocurrencies by investing in Spot Bitcoin ETFs. This move marks a significant shift in their traditional stance towards digital assets, especially Bitcoin, which has been grappling
Cardano (ADA) has been receiving positive predictions from various crypto analysts, indicating a potential surge in its price. One analyst, Javon Marks, pointed out that ADA has been making significant progress since breaking the resisting trend. He highlighted the crypto token’s attempt to move towards the first target at $2.77709, suggesting that a recent pullback
Bitcoin saw a decrease in price by 3.06% on Friday, dropping to a low of $60,372.36 according to CoinMarketCap. Despite this decline, trading analyst Titan of Crypto remains optimistic about Bitcoin’s future potential. The analyst highlighted a bullish signal in Bitcoin’s daily price pattern known as the bullish engulfing candle, indicating a possible shift from
Core Scientific, a prominent player in the Bitcoin mining industry, recently announced its financial results for the first quarter of 2024. The company’s performance showed a remarkable improvement since its emergence from bankruptcy. With a net income of $210.7 million, Core Scientific demonstrated a significant turnaround compared to a net loss of $0.4 million in
The International Monetary Fund (IMF) has advised Nigeria to consider regulating the use of digital assets by licensing international cryptocurrency exchanges. This suggestion was put forth in the IMF’s latest consultation report for Nigeria. The goal behind this recommendation is to strengthen the country’s economic stability and elevate its position within the African cryptocurrency landscape.
The proposed Financial Innovation and Technology for the 21st Century (FIT21) Act is gearing up for a potential House floor vote by the end of May, offering the crypto industry much-needed clarity on regulatory oversight. Advocated by House Financial Services Committee Chairman Patrick McHenry, this legislation aims to address the long-standing issues of market oversight
In the volatile world of cryptocurrency trading, it’s essential to constantly evaluate the market conditions and look for opportunities that may bring quick gains. With recent pullbacks in the crypto market due to economic concerns and Federal Reserve policy changes, traders are on the lookout for altcoins that show strong momentum and potential for growth.
Cardano (ADA) has been gaining attention recently due to a significant reversal in its trading volume. Analysts have been making ultra-bullish predictions for the crypto token, with some even suggesting a peak price target of $9, $11, and even $32 for this bull run. Despite the current low trading price, there seems to be a
