The Chinese police forces recently made headlines after busting a large underground banking operation that utilized Tether (USDT) to transfer up to 13.8 billion yuan ($1.9 billion). The Public Security Bureau of Chengdu Municipal arrested 193 suspects involved in the case and froze 149 million yuan ($20.6 million) in connection with the operation. The investigation,
Crypto
Dogecoin, the meme-powered cryptocurrency, has been making waves in the market recently. With a total market capitalization of $19.8 billion and trading at $0.145, Dogecoin seems to be on a steady upward trajectory. In comparison, Ripple XRP, with a price of $0.5 per token and a market cap of $27 billion, has been facing challenges,
The world of artificial intelligence (AI) has been rapidly advancing over the past few months, with notable developments such as OpenAI introducing a new ChatGPT model with enhanced voice assistant capabilities. This progress has not only revolutionized the AI landscape but has also had a significant impact on the cryptocurrency market. Cryptocurrencies linked to evolving
The cryptocurrency market saw a green day on May 17, with various leading digital assets experiencing significant gains. However, the meme coin sector did not mirror this bullish trend, aside from a few exceptions. One such exception was Doland Tremp (TREMP), which saw a staggering 60% increase in the past 24 hours, reaching a new
Since the historic Merge upgrade on Ethereum over 19 months ago, the data is crystal clear – Ether (ETH) has been struggling to keep up with Bitcoin (BTC). The ETH/BTC price ratio hit a three-year low recently at 0.044, indicating that Ether’s market dominance against Bitcoin has been steadily decreasing. Many Ethereum bulls had high
As per the analysis of market conditions, Bitcoin is expected to stay within its current trading range until a more favorable macroeconomic environment presents itself. Factors such as profit margins, leverage, and the distribution of coin ages all play a role in shaping the landscape for the cryptocurrency. The current scenario hints at a more
On Monday, May 13, the spot Bitcoin and Ethereum ETFs in Hong Kong experienced a significant outflow of $39.3 million, marking the highest total outflow since their launch on the Hong Kong Stock Exchange on May 2. Specifically, funds from issuers Bosera, China Asset Management, and Harvest collectively lost $32.7 million in Bitcoin, while Ethereum
CoinGate, a blockchain payment processor, has recently announced the addition of Shiba Inu as a payment method, further integrating it with Polygon and Binance Smart Chain. This move has sparked interest in the cryptocurrency community, especially as SHIB’s price experienced an uptick and its market capitalization reached nearly $14 billion. CoinGate, a well-known blockchain payment
Bitcoin’s price has been struggling to maintain an upward trajectory after falling from the $75K level. Despite being trapped in a descending channel pattern on the daily chart, the momentum does not appear to be overwhelmingly bearish. The $60K support zone has proven to be strong, preventing the price from dropping significantly. As the market
Robinhood, a popular trading platform among millennials, recently released its earnings report for the first quarter of the year. The report showcased impressive numbers, with record revenues of $618 million, marking a 40% increase year-over-year. Moreover, revenue from cryptocurrencies saw a staggering surge of 232%, reaching $126 million. The firm attributed a significant portion of
