The cryptocurrency market witnessed a surge in meme coins, particularly cat-themed meme coins, leading to a rally that pushed the sector’s market capitalization above $40 billion. This surge comes after a prolonged period of underperformance in the meme coin sector, with many assets charting impressive gains. Popcat (POPCAT), Mog Coin (MOG), and Cat in a
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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
Metaplanet recently made a significant investment in bitcoin, purchasing approximately $3.3 million worth of the cryptocurrency. This move is part of the Japanese investment firm’s broader strategy to expand its bitcoin holdings. With the latest purchase, Metaplanet now possesses a total of 303.095 BTC acquired for $20 million. Earlier this month, Metaplanet Inc. announced securing
In a groundbreaking move, the Singapore-based cryptocurrency exchange Crypto.com has solidified a historic partnership with the Union of European Football Associations (UEFA) Champions League. The announcement marks a significant milestone as Crypto.com becomes the official global sponsor of the prestigious football competition, establishing itself as the first and exclusive crypto platform partner. On August 14,
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
Bitcoin’s price surged by nearly $2,000 in just one day, driven by the release of better-than-expected core PPI numbers in the United States. The leading cryptocurrency experienced a positive end to the previous business week, reaching almost $63,000 on Friday. This marked a significant recovery of over $13,000 since its drop to a 6-month low
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.
