Solana co-founder Raj Gokal has identified Avalanche (AVAX) and Cosmos Hub (ATOM) as the frontrunners in the emerging field of sovereign blockchains. What are Sovereign Blockchains? Sovereign blockchains are controlled by a single entity, unlike decentralized public blockchains like Bitcoin. Cosmos and Avalanche: Key Differences Gokal acknowledged the differences between Cosmos and Avalanche: Cosmos: An…
Market Share Decline According to Kaiko Analytics, Tether (USDT), the leading stablecoin, has seen its market share on centralized exchanges (CEXs) drop by 13% this year. This decline is attributed to the rise of competing dollar-pegged assets like FDUSD and USDC. Growing Competition FDUSD: Binance’s zero-fee promotions have boosted FDUSD’s popularity. USDC: Regulated under US…
Crypto strategist Ali Martinez is raising concerns that Bitcoin (BTC) may have reached its peak in the current bull market. Realized Profits Surge Martinez points out that when Bitcoin recently hit an all-time high of over $73,000, realized profits (gains converted to cash) also reached a record level. This has historically coincided with Bitcoin market…
Senator Cynthia Lummis, a strong supporter of Bitcoin and the crypto market, has spoken out against the Biden administration’s crackdown on the industry. Lummis Condemns DOJ’s Stance Lummis has expressed concern over the Department of Justice’s (DOJ) view that non-custodial software could be considered a money transmission service. She believes this goes against existing guidance…
Dogecoin, the popular meme coin, is currently in a “major accumulation zone,” which means it’s a good time to invest. Indicators of a Buy Signal MVRV Ratio: The 30-day MVRV ratio is around -15%, indicating that many holders are at a loss. This usually signals a bottom for the coin. Whale Accumulation: Whales (large investors)…
Indictment Details On April 30th, Bitcoin investor Roger Ver was arrested in Spain on charges of tax evasion, mail fraud, and filing false tax returns. The indictment alleges that Ver, who renounced his US citizenship in 2014, failed to report gains from Bitcoin sales and pay taxes on them. Reactions from the Crypto Community Some…
BlackRock, a massive investment firm with over $10 trillion in assets, has invested $47 million in Securitize, a major player in the tokenization industry. BlackRock’s Tokenization Strategy This investment aligns with BlackRock’s belief in the transformative power of tokenization in capital markets. The company has created its own tokenized fund, BUIDL, which operates on the…
Coinbase, the leading US cryptocurrency exchange, has announced plans to add QCAD, a stablecoin pegged to the Canadian dollar, to its platform. QCAD Relaunched QCAD was relaunched last year by Stablecorp, a digital asset company, with a promise to maintain reserves equal to the amount of QCAD in circulation. It is available on Ethereum, Stellar,…
Crypto analyst Altcoin Sherpa predicts a potential rally for Solana (SOL) after a market correction. He believes SOL could retest $120 before surging to over $500 later this year. Solana’s Potential Rally Sherpa believes SOL’s potential rally is based on the assumption that the altcoin market will continue to bleed. He advises investors to dollar-cost…
A recent surge in large Cardano (ADA) transactions suggests the cryptocurrency could be poised for a price reversal, according to crypto analytics firm Santiment. Whale Activity On Monday, the number of Cardano whale transactions exceeding $100,000 hit its highest level since November. Historically, such spikes have been associated with potential price reversals. Market Performance Despite…
