Analyst DonAlt predicts a surge in altcoins if an Ethereum spot ETF is approved. Impact on Bitcoin and Ethereum DonAlt believes an Ethereum ETF could reduce inflows to Bitcoin but boost Ethereum and underperforming altcoins. Potential Altcoin Beneficiaries The analyst highlights Pepe (PEPE) as an altcoin poised for a breakout if an ETF is approved….
Binance Labs, the venture capital arm of Binance, has invested in Aevo, a layer-2 (L2) decentralized exchange (DEX). Aevo’s Features Aevo is a high-performance DEX platform that specializes in futures and perpetual contracts trading. It’s built on top of Optimism’s OP Stack and uses Celestia for high-throughput data availability. Binance’s Investment Binance’s investment will help…
A JPMorgan Chase customer in Brooklyn was robbed of $300,000 just after withdrawing the cash from a bank branch. The Incident The 31-year-old customer withdrew the large sum from a teller and was robbed as soon as he exited the bank’s front door, according to News 12. Suspect Description Police say the suspect “forcibly removed”…
After a prolonged downturn, venture capital (VC) investment in cryptocurrency firms is experiencing a resurgence. Rise in VC Funding According to data from PitchBook, VC investment in crypto companies surged by 41% in the first quarter of 2024, reaching $2.4 billion. This marks a significant turnaround from the seven consecutive quarters of decline. Market Context…
Accumulation Surge On-chain data reveals that Bitcoin addresses with zero sales history, known as “accumulation addresses,” made significant purchases before the recent price rally. These addresses represent long-term holders (HODLers) who have never sold their Bitcoin. To qualify as an accumulation address, it must meet specific criteria: At least two incoming transactions Last transaction within…
Triangle Pattern Signals Upside Crypto analyst Lingrid has spotted a bullish triangle pattern on Dogecoin’s chart. This pattern suggests that the price is likely to continue rising. The triangle is formed by the market consolidating below the upper border of the triangle. This often leads to a price squeeze, which is bullish. Range Zone and…
The US Department of Justice (DOJ) has cracked down on a major dark web drug operation, seizing $100 million in cryptocurrency. Incognito Market: The Dark Web Drug Bazaar In October 2020, Incognito Market emerged as a dark web marketplace for illegal narcotics. It allegedly facilitated over $100 million worth of crypto transactions in drugs, including…
Centralized Control: The Genesis Keys Justin Bons, a venture capitalist, has criticized Cardano, claiming it’s not as decentralized as it claims. He highlights the “genesis keys,” a multi-signature system that gives Input Output Global (IOG), the company behind Cardano, excessive power. IOG controls five of the seven genesis keys, which allow them to unilaterally change…
Altcoins at Risk According to analyst Benjamin Cowen, Bitcoin (BTC) is likely to continue trading near its record highs, at the expense of altcoins. Cowen believes that the only reason Bitcoin remains above $60,000 is due to traders shifting funds from altcoins into BTC. Liquidity Exhaustion Cowen warns that a larger correction in Bitcoin and…
A wealthy investor has started buying large amounts of a cryptocurrency similar to Dogecoin from the popular US crypto exchange Coinbase. Details of the Purchase According to data from the digital asset tracker Lookonchain, the investor spent $606,000 to buy almost 228,000 units of the memecoin dogwifhat (WIF). Other Whale Activity Lookonchain also reported that…
