Bitcoin has hit a bump in the road after a record-breaking climb. The past week has seen a sharp drop in price, leaving investors wondering if it’s a temporary setback or a sign of a bigger decline. Bearish Concerns Analysts point to a series of failed attempts to push higher, along with declining profitability and…
Burn Rate Surges Shiba Inu’s burn rate has seen an incredible increase of over 2,300% in just one day. This means that 195 million SHIB tokens were burned during that period. Price Rebounds The surge in burn rate has had a positive impact on SHIB’s price, which has rebounded after a recent correction. The price…
Mining Hashrate Plunges Bitcoin’s mining hashrate, a measure of the network’s computing power, has recently taken a dive from its all-time high. This suggests that some miners have disconnected from the network. Reasons for the Decline 1. Bitcoin Price Drop: Miners earn revenue from block rewards and transaction fees. The recent price drop has reduced…
FOMC Meeting: Impact on Bitcoin and Crypto Central banks worldwide will announce interest rate decisions this week. The US Federal Reserve’s decision on Wednesday is particularly important. Interest rates are expected to remain unchanged, but the market is watching for any signals about inflation and the future of monetary policy. A “higher for longer” interest…
Vanguard’s Position Jim Bianco, founder of Bianco Research, supports Vanguard’s decision not to offer Bitcoin spot ETFs. He argues that Vanguard is a dominant player in the ETF market, with over $2.58 trillion in assets. BlackRock vs. Vanguard Bianco compares Vanguard to BlackRock, another ETF giant. BlackRock has invested heavily in Bitcoin ETFs, while Vanguard…
A new memecoin on the Solana blockchain, Book of Meme (BOME), has soared to a market cap of over $1 billion in just two days. Binance Listing Sparks Rally The surge began after Binance, the world’s largest crypto exchange, announced support for BOME perpetual futures. The coin skyrocketed from $0.0077 to $0.0268 in hours, a…
Stolen Funds and Altered Check Lindsay Aleman, a Wells Fargo customer, reported that $7,000 was stolen from her account in July. She discovered that a check she had mailed to pay taxes had been altered to a different amount and payee. Prolonged Claim Process Aleman filed a claim with Wells Fargo, but the bank claimed…
Crypto analyst Hsaka predicts a surge in the altcoin market as traders cash in on Bitcoin’s recent gains. Solana Ecosystem Soars Altcoins in the Solana ecosystem, such as Jupiter and Pyth Network, have seen a rally following Solana’s own surge. Hsaka believes this capital will now flow into other altcoins. Avalanche as a Potential Beneficiary…
El Salvador’s President Nayib Bukele has announced that the country is moving its Bitcoin holdings into cold storage. This move aims to enhance the security of the nation’s digital assets. Cold Storage for Bitcoin Cold storage involves storing cryptocurrencies on encrypted external hard drives that are disconnected from the internet. This measure protects the assets…
Prison Time Recommendation Prosecutors are seeking a prison sentence of 40-50 years for Sam Bankman-Fried, the disgraced founder of FTX. This is despite sentencing guidelines that could lead to a life sentence for the 32-year-old. The prosecution argues that a lengthy sentence is necessary to deter others from engaging in financial misconduct and to protect…
