Bitcoin miners are facing financial challenges and are selling their BTC to cover costs. This capitulation is similar to what happened in December 2022, after the FTX collapse. Impact on Bitcoin Price Selling Pressure: Miners selling their BTC can increase selling pressure, potentially driving down the price. Market Recoveries: Periods of miner capitulation have historically…
SEC Response Delays S-1 Form Approval Bloomberg analyst Eric Balchunas has revised his projected launch date for Ethereum Spot ETFs in the US. The delay stems from the US Securities and Exchange Commission (SEC) taking longer than expected to respond to the second round of S-1 form submissions. The SEC had previously approved the 19b-4…
Major US banks are quietly selling their exposure to the troubled commercial real estate market, according to a recent report by the New York Times. Dumping Loans to Cut Losses Banks such as Goldman Sachs, Citigroup, and Capital One have recently sold portions of large commercial real estate loans, signaling a shift in strategy. These…
A blockchain platform focused on gaming, WEMIX, has surged by 37% this week. This surge comes despite a sideways crypto market and is driven by an upcoming hard fork and token burn. Hard Fork and Tokenomics Overhaul The “Brioche Hard Fork” is scheduled for July 1st and will introduce a revised minting rule. This will…
Chainlink (LINK), a decentralized oracle network, has surpassed all other ERC-20 projects in terms of recent development activity, according to data from crypto analytics platform Santiment. Notable GitHub Events Over the past 30 days, Chainlink recorded an impressive 560.6 notable GitHub events, while Status (SNT) followed closely with 385.97 events. Ethereum (ETH) ranked third with…
MetaMask Wallet in the Spotlight The Securities and Exchange Commission (SEC) has filed a lawsuit against Consensys, the company behind the popular MetaMask wallet. The SEC alleges that Consensys violated federal laws by acting as an unregistered securities broker through its MetaMask Swaps and Staking services. According to the SEC, Consensys has collected over $250…
Ethereum (ETH) is facing a crucial test as it approaches the key support level of $3,360. This level has become a battleground between bullish and bearish forces. Support and Resistance On the 4-hour chart, ETH’s price has dropped below the 100-day Simple Moving Average (SMA) and is currently consolidating just above $3,360. The Relative Strength…
Peter Thiel, the tech mogul known for his bold investments, has expressed skepticism about a significant Bitcoin price increase anytime soon. Thiel’s Bitcoin Stance Despite being a Bitcoin holder, Thiel believes a dramatic price surge is unlikely. He sees Bitcoin as a potential hedge against inflation and a challenge to central banks. Founders Fund’s Bitcoin…
Sideways Movement Dogecoin (DOGE) and Shiba Inu (SHIB) have been stuck in a rut after the recent market downturn. While other cryptocurrencies have bounced back, these meme coins have remained stagnant. Correlation with Bitcoin One reason for their lack of movement is their strong correlation with Bitcoin. As Bitcoin’s price has struggled, so have DOGE…
Nigeria’s Crypto Landscape Nigeria’s relationship with cryptocurrency has been rocky, but it’s now starting to thaw. The Nigerian Securities and Exchange Commission (SEC) is now open to the idea of crypto, after months of a hardline stance. Over a third of Nigerians own or use cryptocurrencies, making it a significant market. The SEC acknowledges this…
