Whales Accumulate Bitcoin Bitcoin investors have been on a wild ride lately. But amidst the recent market turmoil, there are signs of a potential rebound. One key factor driving this optimism is the recent buying spree by Bitcoin whales. These large-scale investors have been accumulating the digital currency at a rapid pace, signaling their belief…
DeFi: Revolutionizing Financial Services DeFi (decentralized finance) has emerged as a game-changer in finance, offering modern and efficient alternatives to traditional institutions. Smart contracts automate financial transactions, eliminating intermediaries and providing access to competitive interest rates for lending, borrowing, trading, and saving. AI: Enhancing DeFi’s Capabilities Artificial intelligence (AI) is poised to supercharge DeFi. Its…
Off-Balance Sheet Holdings According to government data, JPMorgan Chase, Bank of America, and Citibank have amassed a staggering $7.4 trillion in assets that are not listed on their balance sheets. These assets are considered “off-balance sheet” and include various financial instruments such as loans, letters of credit, and derivatives. Historical Concerns Off-balance sheet accounting has…
Investment Announcement Crypto asset manager Pantera Capital has announced an investment in the layer-1 blockchain Toncoin. This news has led to a slight increase in the price of TON, the native token of the blockchain. Toncoin’s Background Toncoin was initially developed by the encrypted messaging platform Telegram. However, Telegram parted ways with the project in…
Completion Announcement Shiba Inu (SHIB), a rival to Dogecoin (DOGE), has completed its highly anticipated Shibarium hard fork. The team behind the dog-themed meme asset made the announcement on social media. Shibarium’s Benefits Shibarium is a layer-2 scaling solution that aims to improve transaction speed and reduce gas fees. It utilizes both plasma and proof-of-stake…
Arrest of Suspected Crypto Scammer Dutch authorities arrested a 26-year-old man in connection with the ZKasino rug pull, a $33 million crypto gambling platform scam. The investigation began on April 25 after reports from the crypto community and intelligence agencies. Binance’s Financial Crime Compliance team assisted in securing millions of euros in cryptocurrencies. Confiscated Assets…
Crash in Open Interest Dogecoin’s open interest, a measure of outstanding futures contracts, has taken a nosedive in the past month. From a record high of $1.91 billion in March, it’s now crashed by a staggering 66.5% to just $625.7 million. This drop has brought open interest back to levels not seen since February. Impact…
Despite recent price fluctuations, some analysts are bullish on Bitcoin’s future. Historical Patterns Point to Gains Based on past price movements, analysts believe Bitcoin could surge past $73,800 and reach new highs close to or above $100,000. Key Support Level Holding After a dip to $56,500, Bitcoin has retested a crucial support trend line. This…
Current State of XRP XRP’s price has been stuck in a rut lately, hovering between $0.6 and $0.4 for the past two years. While other cryptocurrencies like Bitcoin and Ethereum have seen impressive gains, XRP has fallen behind. Analyst’s Perspective Crypto analyst Josh Olszewicz believes XRP is “dead” and not worth investing in. He argues…
Google is supporting a new program that will provide $2.7 million in guaranteed income to 225 families in San Francisco who are struggling with homelessness. Program Details The five-year program, called “It All Adds Up,” will give each family $1,000 per month for one year. Participants can use the money for any purpose they choose….
