Risk Aversion Prevails Bitcoin’s price dropped sharply on Tuesday, falling below $68,000. This decline reflects the cautious mood in the broader financial market, as investors await the release of key economic data and the upcoming Federal Open Market Committee (FOMC) meeting. FOMC Meeting and Inflation Concerns The FOMC meeting will decide on interest rates, which…
Digital currencies like Bitcoin have revolutionized the financial world. Now, China’s Industrial and Commercial Bank of China (ICBC), the world’s largest bank, has praised the growth of these currencies. Bitcoin’s Scarcity Like Gold ICBC believes Bitcoin’s limited supply (21 million coins) is similar to gold’s scarcity. This comparison is based on Bitcoin’s mathematical design, which…
Scalability Bottleneck DePIN excels in decentralization and security, but scalability remains a hurdle. As networks expand, transaction volume increases, particularly in IoT applications where real-time data exchange is crucial. The current blockchain infrastructure struggles to handle the scale of a mature DePIN ecosystem. Limited Interoperability DePIN’s integration with other applications and networks is vital. However,…
Crypto analyst Michaël van de Poppe warns that the popular memecoin Floki (FLOKI) could face a significant correction of up to 40%. After a rapid surge of over 13x in recent months, Poppe believes the risk of a sharp pullback outweighs the potential for further gains. Fantom (FTM) Poised for Support Retest Poppe also expects…
Binance Labs, the investment arm of the world’s largest crypto exchange, has announced a new investment in Zircuit, a Layer-2 (L2) network that uses artificial intelligence (AI) for enhanced security. AI-Enabled Security Zircuit’s L2 combines rollup technology with zero-knowledge proofs to create fast, low-cost, and Ethereum Virtual Machine (EVM)-compatible transactions. The network’s AI-powered “sequencer level”…
Dave the Wave, a trader known for predicting the May 2021 crypto crash, believes Bitcoin (BTC) is still on an upward trajectory. BTC Above Key Support Level According to Dave the Wave, as long as Bitcoin remains above a diagonal support level, it can continue to rise. This level has supported BTC since October 2023….
What’s Driving the Spike? Bitcoin futures are seeing a big jump in short interest, but it’s not all bad news. Experts say it’s mainly due to a popular trading strategy called the “basis trade.” The Basis Trade Strategy The basis trade takes advantage of differences between the spot price and futures price of Bitcoin. With…
Background Following the approval of Spot Ethereum ETFs by the SEC, the Shiba Inu community has been advocating for a SHIB ETF. Petition to Grayscale A petition on Charge.org has gathered over 10,000 signatures urging Grayscale CEO Michael Sonnenshein to launch a Shiba Inu ETF. Justifications for a SHIB ETF Market Trends: Shiba Inu is…
Crypto and Credit Cards Banned To protect Australians from financial losses, the government has banned the use of cryptocurrencies and credit cards for online gambling. This ban took effect on Monday, giving gambling companies six months to comply. Non-compliant companies face fines of up to $150,000. Affected Forms of Payment The ban applies to: Cryptocurrencies…
Blockchain Australia has transformed into the Digital Economic Council of Australia (DECA), expanding its focus beyond blockchain to embrace the wider digital economy. Strategic Rebranding for Inclusivity Amy-Rose Goodey, the new CEO, explains that the name change reflects the evolving tech landscape, which now includes digital ID, AI, and Web3. DECA aims to represent a…
