Correlation with Traditional Markets Data from IntoTheBlock shows that Bitcoin (BTC) and Ethereum (ETH) have recently shown little correlation with traditional markets and commodities. This means that the crypto market is charting its own course. Correlation Coefficients The correlation coefficient (r) measures the connection between two quantities. A value above zero indicates a positive correlation,…
Market analysis firm Glassnode reveals a key reason why Ethereum (ETH) has fallen behind Bitcoin (BTC) in the recent market cycle. New Buyer Interest Glassnode notes that Ethereum has not attracted the same level of capital from new buyers as Bitcoin. This influx of new capital has driven Bitcoin to record highs. Bitcoin ETF Approval…
SEC’s Concerns The Securities and Exchange Commission (SEC) Chair, Gary Gensler, believes that many crypto assets are actually securities. He argues that investors are not receiving the necessary information about these assets. Robinhood’s Woes The SEC recently sent a warning to Robinhood’s crypto division, indicating plans for legal action. Gensler declined to comment on specific…
Analyst Benjamin Cowen believes Ethereum (ETH) may face further declines due to: Monetary Policy Headwinds Cowen expects tighter monetary policy to negatively impact ETH, as investors may blame the recent rejection of the spot exchange-traded fund (ETF) and sell off. Bitcoin’s Influence Cowen predicts that ETH can only rise significantly if Bitcoin (BTC) also experiences…
A prominent crypto analyst has issued a bearish warning for a popular memecoin, dogwifhat (WIF), which has soared in value over the past few months. Elliott Wave Theory Analysis According to the analyst, known as Bluntz, WIF is likely in the final stages of a corrective three-wave pattern. This suggests that the coin could drop…
LocalMonero’s Demise LocalMonero, a popular peer-to-peer trading platform for the privacy-focused cryptocurrency Monero, has announced its closure. The platform cited “internal and external factors” for the decision, which has sent shockwaves through the Monero community. Regulatory Pressure The closure comes amid increased scrutiny of the cryptocurrency industry by US authorities. Regulators have been cracking down…
Last-Minute Integration of CIP-69 Cardano founder Charles Hoskinson has confirmed the inclusion of Cardano Improvement Proposal (CIP) 69 in the upcoming Chang hard fork. This decision was made after considering community feedback and the demands of the Cardano Foundation. Hoskinson emphasized that the late inclusion should not cause significant delays, but acknowledged the potential risks…
Why Users Are Ditching Bitcoin for Litecoin Litecoin has emerged as the top choice for cryptocurrency payments on the popular platform Bitpay. Litecoin Dominates Crypto Payments According to Bitpay, Litecoin has become the most used cryptocurrency for payments, surpassing Bitcoin. Litecoin accounts for 41.38% of payments, while Bitcoin lags behind at 21.55%. Faster and Cheaper…
Foundation’s ETH Transfers The Ethereum Foundation has transferred 5,000 ETH to a multisign address since the start of 2024. The latest transfer of 1,000 ETH has raised concerns among market watchers. Market Speculation With Ethereum struggling to break above $3,200, the foundation’s actions have fueled speculation about a potential price drop. Some analysts predict a…
UX Challenges in Web 3.0 and GameFi The user experience (UX) in Web 3.0 and GameFi has been a major barrier to adoption. Setting up wallets, paying gas fees, and managing private keys can be daunting for average users. Account Abstraction: A UX Revolution Account abstraction decouples wallets from private keys, allowing users to use…
