Bitcoin, the leading cryptocurrency, is currently experiencing a surge in price that has caught the attention of crypto investment firm Mechanism Capital. Andrew Kang, the co-founder of Mechanism Capital, recently took to Twitter to share his thoughts on Bitcoin’s unexpected strength in the market. Despite facing challenges in market structure dynamics earlier in the month,
Crypto
Three individuals were recently arrested by the Hong Kong police for allegedly defrauding a businessman out of HK$3.11 million in crypto assets. The accused individuals offered the victim three bundles of counterfeit HK$1,000 banknotes during a transaction at a Mong Kok office. The fraudulent scheme was uncovered when the victim, a 44-year-old businessman, was instructed
State Street Corp., a prominent Boston-based finance company, is venturing into the realm of blockchain technology by contemplating the introduction of its stablecoin and tokenized deposits. The move seeks to enhance payment settlement processes by leveraging the capabilities of blockchain technology. According to a recent report by Bloomberg, State Street has been actively exploring opportunities
Kraken Institutional, the division catering to institutional investors of Kraken, recently announced the expansion of its custody services into the UK and Australia. This move comes after the division’s initial launch earlier this year, allowing institutional clients in these regions to securely store, manage, and transfer their crypto assets starting July 18th. According to Tim
Over the past weekend, Bitcoin’s price has experienced a significant rally, with the crypto asset reaching a high of $67,000. However, as of the time of writing, it has settled around $64,000. This surge in price has sparked discussions within the crypto community about whether Bitcoin has finally hit rock bottom or if there is
In the ever-evolving world of cryptocurrency, there has been a surprising trend in 2024 – the rise of dog-themed meme coins. Coins like Dogecoin (DOGE), Shiba Inu (SHIB), Floki Inu (FLOKI), and dogwifhat (WIF) have garnered significant attention and investment, leading to substantial growth in their market capitalization. The popularity of dog-themed meme coins can
In June, trading volume on centralized exchanges experienced a significant decline of 21.8%, marking the third consecutive month of diminishing activity since March. The combined spot and derivatives trading volume across these platforms amounted to $4.2 trillion, down from a peak of $9 trillion recorded earlier in the year. One major contributing factor to this
Ethereum, the second-largest cryptocurrency by market capitalization, had an impressive week with a 12% price increase. This recovery came amidst a market-wide rally, allowing ETH to establish $3,300 as a key support level. The next target for Ethereum is $4,000, which also serves as a crucial resistance level. The optimism in the market is palpable,
Shiba Inu, a popular meme coin, recently experienced a substantial increase in its burn rate, with an impressive 450% surge in the past 24 hours. This surge led to around 50 million tokens being sent to a null address, reducing the circulating supply and potentially increasing scarcity. Despite the USD equivalent of the burn being
Ethereum co-founder Vitalik Buterin has recently spoken out against the trend of solely supporting political candidates based on their pro-crypto views. He emphasized the significance of broader values such as individual freedoms and technological advancement. Buterin warned that a myopic focus on cryptocurrency could potentially undermine the fundamental principles that sparked the industry’s movement. Buterin
