The latest report released by Coinbase sheds light on the potential impact of young, pro-crypto voters on the 2024 US presidential elections. With Gen Z and Millennials making up 40% of the electorate, there is a growing trend towards supporting candidates who champion crypto and financial innovation. These younger Americans are increasingly discontent with the
Crypto
Bitcoin experienced a 2.5% drop on Wednesday to $59,100 following the U.S. government’s transfer of more Silk Road-affiliated Bitcoin holdings to Coinbase Prime. Arkham Intelligence, an on-chain analysis platform, identified the move and highlighted that 10,000 BTC, valued at $593 million, had been transferred. This transfer involved moving the Bitcoin from a known U.S. government
The world of cryptocurrency has seen a disturbing trend in the rise of stolen funds from crypto scams. Data shared by Chainalysis revealed that the amount of stolen funds almost doubled from $857 million to $1.58 billion by late July of this year. This represents a significant 84.4% increase compared to the same period last
Core Scientific, a Bitcoin mining company based in Texas, has recently priced an increased offering of $400 million in 3.00% convertible senior notes due in 2029. The initial offering size was $350 million but has been upsized due to favorable market conditions. These notes will be settled on August 19, 2024, and will be issued
The defunct crypto hedge fund, Three Arrows Capital (3AC), is currently embroiled in a $1.3 billion lawsuit against TerraForm Labs, a bankrupt digital assets company co-founded by Do Kwon. The liquidators of 3AC are accusing TerraForm Labs of manipulating the market for Luna and TerraUSD, resulting in artificially inflated prices for these tokens. This alleged
The current market condition has placed many new Bitcoin investors in a state of financial stress. Metrics such as the Short-Term Holder MVRV (Market Value to Realized Value) and the standard deviation (SD) of the short-term holder Cost-Basis illustrate that newer market participants are facing significant losses on their bitcoin investments. The Short-Term Holder MVRV
Ethereum has emerged as the frontrunner in the recent market downturn, with investors seizing the opportunity presented by the price weakness. Data reveals that Ethereum has attracted a staggering $155 million in inflows over the past week alone. This surge has propelled its year-to-date total inflows to $862 million, marking the highest influx since 2021.
Recent data from the cryptocurrency futures market has led a CryptoQuant analyst to predict a potential rally for Ether (ETH) in the near future. Following a significant liquidation event, historical trends suggest that ETH may experience a price rally as spot buying pressure increases and markets stabilize. Despite a recent dip in ETH price, which
XRP, the cryptocurrency associated with Ripple, saw a significant price increase last week following a court ruling in the Ripple v SEC case. This surge brought XRP’s price to almost $0.64 with a market capitalization of over $35 billion. However, despite this initial success, the price of XRP has since experienced a slight decline, currently
As bitcoin experiences a downward trend, analysts are closely examining technical indicators and signals to determine the direction in which it may move next. According to CoinGlass, a crypto derivatives data provider, the liquidity heatmap indicates key first-test lines at approximately $56,800. A bounce off this level could lead to testing higher prices, while a
