Author: Crypto News Live
TL;DRFull StoryRight, so Jack Dorsey’s Block (the payments company that owns Square and Cash App) is about to start investing 10% of its annual profits into Bitcoin.This is cool for two reasons:It reflects the health of the current market. Large name legacy companies adopting Bitcoin in some way, shape, or form is typically a symptom of a bull run. (The more companies are adopting crypto → the healthier the market).It cuts a new roadmap for other legacy companies to follow.Sure, there’s the MicroStrategy route — which has shown how the company’s market cap has 10x’d since pouring every spare cent…
The positive reading of the bulls and bears indicator suggests that the price might increase. Ethereum’s network was overvalued and could hinder the potential upswing. The price of Ethereum [ETH] might have decreased by 7.30% in the last 24 hours, but an assessment of a key indicator suggested that the decline might soon end. The indicator talked about here is the Bulls And Bears metric provided by IntoTheBlock. This indicator can be measured in addresses or volume. However, the focus is usually on large buyers or sellers, as they have a big influence on price movements. The 1% want to…
Fees generated by Runes to Bitcoin have fallen to 21.1% after an earlier dominance of 77.3%. Declining activity on the protocol and Ordinals have led miners’ revenue to plunge. Bitcoin Runes, a token standard launched on the Bitcoin [BTC] blockchain less than 30 days ago, has recorded a massive decline in activity. According to Dune Analytics, the total fees on the network were nowhere near the heights of the earlier introduction. Casey Rodarmor, the same developer of Bitcoin Ordinals, developed the Runes protocol. The protocol aimed to improve the creation and management of fungible tokens on the blockchain. From Rodarmor’s…
Bitcoin has been sliding down since it reached its all-time high in March. This has largely led to a buy-the-dip sentiment among crypto traders, with many believing the correction would end as soon as it ended and Bitcoin would surge again to new all-time highs. Related Reading According to crypto analytics platform Santiment, the thrill of scooping up ‘cheap’ Bitcoin appears to be fading as the consolidation drags on around the $60,000 price mark. As Santiment noted, this fading buy-the-dip mentality could actually be a signal that Bitcoin is nearing a bottom, according to price history. Is The Bitcoin Bottom…
When fans and skeptics alike refer to Bitcoin as “magic internet money,” they may not immediately connect the “technical marvel” to actual magic. But a new generation of magick practitioners is adopting blockchain technology, artificial intelligence, and ancient practices to commune and work with angels, demons, and more. Among them is Chaweon Koo, a futurist, witch, digital artist, and blockchain enthusiast. “I just want to say that I’m just a very, normal person,” Koo told Decrypt. “The way that I work with the occult is, let’s say, less mystical and a little bit more like an instrument.” She said she…
Whales began selling their ETH at a loss. Network Growth for ETH declined, while interest in the NFT sector waned. Ethereum [ETH] slipped past the $3,000 mark recently, causing uncertainty and FUD in the market. Due to this, whales started fleeing away from ETH. However, not all whales have been profitable. Whales sell their holdings According to Lookonchain’s data, a massive whale sold its holdings of 6,714 ETH amounting to $19.5 million at $2,903 and lost $6.45 million. When whales sell large amounts of ETH, it creates significant sell pressure in the market. This can drive down the price of…
Grayscale’s Bitcoin ETF recorded a negative outflow of over $43M, triggering outflows for the other products However, Bitcoin’s market wasn’t particularly affected by it It has been a slow month for U.S. spot Bitcoin ETFs, once lauded as the big catalyst for a 2024 bull run that might see Bitcoin climbing to as high as $100,000. In fact, just yesterday, the products saw about $11.3 million in outflows, triggered by Grayscale. Change in investor sentiment? Data from Coinglass revealed an unsettling trend for Grayscale’s GBTC, which continued to bleed with $43.4 million fleeing the fund. Despite this exodus, GBTC had…
To provide customers with a higher level of DeFi exposure and promote the Chainlink framework, decentralized perpetual exchange YFX has integrated Chainlink Data Streams on the Arbitrum mainnet. The company’s initial incorporation occurred using Chainlink Data Streams, which included AVAX, USD, BNB, USD, DOGE, and many others. They focused on Chainlink Data Streams because of the superior quality of data they delivered using the well-established Chainlink framework, which provides unmatched capability and security. With YFX V4, which expands upon the existing Perpetual Protocol market, traders and makers have access to the most user-friendly, cost-effective, and lucrative trading platform available. Traders…
TL;DRFull StoryWhile the US slowly figures things out in the courtroom (see previous article), there’ve been some interesting murmurings about China letting its citizens invest in Hong Kong’s BTC ETFs.In order to understand how they plan to do that, we first need to understand how a little thing called ‘Stock Connect’ works.Stock Connect lets qualified investors from one market (China in this case) to access eligible shares in another market (like Hong Kong), as long as they purchase a certain amount (but not too much). Confused? We got you.Right now, the Shenzhen-Hong Kong Stock Connect connects the Shenzhen Stock Exchange…
The price of Bitcoin has continued to move within a consolidation range since hitting a new all-time high in mid-March. This sluggish price action has been a source of worry to most investors, especially when the premier cryptocurrency recently lost its support at the $60,000 level. Interestingly, price is not the only Bitcoin metric that has cooled off since the first quarter of the year. Data analytics firm Santiment has revealed that on-chain activity on the Bitcoin network has also slowed down over the past few months. How Historically Low On-Chain Activity Affects BTC Price In a new post on…
