Monero has seen a surge in discussions on social media platforms following the news of LocalMonero’s closure. Santiment data indicates a significant uptick in interest in Monero (XMR) as a result of this announcement. The closure of LocalMonero, a peer-to-peer exchange based on Monero (XRP), has generated a mix of internal and external factors as
Crypto
Digital asset investment products have been experiencing outflows consistently for the past four weeks, with the total amounting to $251 million. What is particularly concerning is that last week marked the first time there were “measurable outflows” from newly issued ETFs in the US, with a total of $156 million flowing out. This trend indicates
Hong Kong’s Bitcoin ETFs faced a setback shortly after their launch on April 30, as the China Asset Management Bitcoin ETF experienced its first cumulative daily BTC outflows on Monday. The outflow totaled $4.9 million, raising concerns about the performance of the newly introduced ETFs. Asset Flows Discrepancy While the China AMC Bitcoin ETF saw
Robinhood Markets Inc. has joined the ranks of crypto trading platforms facing potential legal action from the Securities and Exchange Commission (SEC). The company disclosed in a Form 8-K that it had received a Wells Notice from the SEC on May 4. The notice indicated that the SEC staff had made a preliminary determination to
Elliptic, a blockchain analytics company, recently announced a groundbreaking achievement in utilizing artificial intelligence (AI) to detect money laundering in Bitcoin. This research, conducted in collaboration with researchers from the MIT-IBM Watson AI Lab, has brought about significant advancements in the fight against illicit financial activities in the cryptocurrency space. The findings of Elliptic’s research
The resurgence of meme coins in the cryptocurrency market has sparked debates and concerns among industry experts. Chris Dixon, a general partner at Andreessen Horowitz (a16z), recently raised questions about the US regulatory system and its treatment of meme coins compared to other blockchain projects. He highlighted the fact that meme coins, which are primarily
Coinbase, the largest U.S. crypto exchange, has reported impressive financial figures in its Q1 2024 earnings report. The company posted a total revenue of $1.6 billion, marking a significant 72% increase from the previous quarter. This surge in performance can be attributed to the booming prices of crypto assets and the successful launch of spot
Financial technology conglomerate Block, owned by X co-founder Jack Dorsey, recently announced a bold move to invest 10% of all profits made from bitcoin-related products in monthly BTC purchases. This decision comes after Dorsey’s explanation to shareholders in a Q1 2024 earnings report, where he outlined the reasons behind the company’s focus on the largest
The recent correction in the cryptocurrency market saw Bitcoin, Ethereum, and many other digital assets hit multi-month low prices. However, XRP managed to remain relatively resilient during this period. Despite briefly dropping below $0.50, the token has seen a 3% increase over a two-week period, according to CoinGecko’s data. This resilience has caught the attention
Bitcoin has been on a wild ride recently, with massive fluctuations in its price. From reaching almost $65,000 to dropping to a low of $56,500, the cryptocurrency has kept traders on their toes. The recent recovery saw Bitcoin climbing back up to over $63,000, demonstrating its resilience in the face of market volatility. Not only
MicroStrategy recently introduced a new Bitcoin-based strategy aimed at addressing the issue of online spam. The initiative, known as “MicroStrategy Orange,” was unveiled by the company’s executive chairman, Michael Saylor, during the annual MicroStrategy World conference. The core concept behind MicroStrategy Orange is the creation of an open-source decentralized identity solution built on the Bitcoin
In the midst of a significant pullback in the crypto market, economist and trader Alex Krüger provided insights into the peculiarities of the current market cycle. Notably, meme coins have taken the spotlight, alongside the frenzy surrounding spot Bitcoin ETF launches. While the initial hype propelled these meme coins to new heights, many of them
The meme coin sector has faced heavy losses recently, with market capitalization dropping below $50 billion. Dogecoin (DOGE), one of the largest assets in this category, has seen a 15% weekly price decline. However, there are signs of potential recovery for DOGE, with a rise in non-empty wallets indicating increased demand. The number of addresses
The cryptocurrency market has experienced significant price drops recently, with bitcoin falling below $57,000 and the global market capitalization plummeting to $2.2 billion. Popular altcoins such as Solana, Dogecoin, and Shiba Inu have also seen double-digit declines. Despite this, some investors are viewing this as an opportunity to “buy the dip” and enter the market