Key Findings The latest US Consumer Price Index (CPI) data shows inflation is rising faster than expected. Both headline and core inflation rates increased by 0.4% month-over-month. Year-over-year core CPI remains at 3.8%. Market Reactions The crypto market reacted with a swift downtrend, with Bitcoin (BTC) initially dropping by 2.7%. Altcoins have also seen significant…
The crypto market is getting wrecked, with Bitcoin dropping below $70,000. And meme coins like Dogecoin and Shiba Inu aren’t immune. Big Drop for Meme Coins Both Dogecoin and Shiba Inu have lost over 5% in the last 24 hours. Why? Because the crypto market follows Bitcoin’s lead. When Bitcoin goes down, everything else goes…
The Naming Confusion Ripple and XRP have a shared history. XRP was once known as “ripples” before its current name. This has led to confusion, with some people mistakenly believing they are the same thing. The recent debate about the naming issue started when Australian attorney Bill Morgan pointed out that the Australian Crypto Convention…
Grayscale Investments’ CEO, Michael Sonnenshein, says that the company’s Bitcoin Trust (GBTC) is reaching a balance point after a period of heavy outflows. Outflows Easing GBTC has seen over $15 billion in outflows in the past three months. However, the rising value of Bitcoin has helped to cushion Grayscale’s assets under management (AUM), which have…
Decentralized Trading with CEX Features Raindex, a new desktop app on the Flare blockchain, is shaking up the trading game. It combines the advantages of both centralized exchanges (CEXs) and decentralized exchanges (DEXs), giving users the best of both worlds. Key Features: Intents-Like Architecture: Set your desired trade outcomes without specifying how they’re executed. Advanced…
Bottoming Out Crypto analyst Bluntz believes that Solana (SOL) is nearing a bottom against Bitcoin (SOL/BTC), hovering around 0.0025 BTC ($179.57). He anticipates a final dip to confirm the bottom before a potential rally. Bullish Outlook According to Bluntz, Solana is completing a corrective wave and is poised for a breakout above 0.003 BTC ($215)….
1inch, a popular crypto exchange, has partnered with Mastercard to launch a debit card that lets you spend both crypto and regular money. Physical and Digital Cards The card will be available as a physical card and a digital version. According to 1inch co-founder Sergej Kunz, this move is a big step towards bringing more…
Crypto analyst Benjamin Cowen predicts a potential market correction in the second quarter if the Federal Reserve (Fed) begins cutting interest rates. Altcoin Performance Key Indicator Cowen believes that if altcoins, or alternative cryptocurrencies, start losing value against Bitcoin (BTC), it could signal the start of a correction due to economic pressures. He’s closely monitoring…
Investigation and Token Movement STFIL, a liquid staking platform for Filecoin (FIL), announced that its team is allegedly being investigated by Chinese police. FIL tokens staked on the platform were moved to an unknown address without the team’s authorization. The mysterious address now holds $23 million worth of FIL. Community Concerns Investors are worried about…
Demand from Long-Term Holders Data from CryptoQuant shows that demand for Bitcoin from long-term holders (HODLers) has reached unprecedented levels, outpacing the supply produced by miners. HODLers, who own “accumulation addresses” that have only purchased BTC and never sold it, are known for holding their assets indefinitely. As a result, the new supply they accumulate…
