Hong Kong is making waves in the crypto world, with plans to become a major player in DeFi (decentralized finance) and the Metaverse. DeFi: A Growing Force Research shows that DeFi has exploded in value, from $6 billion in 2021 to over $80 billion in 2023. While it’s still a small part of the crypto…
Adoption Curve Analysis Analyst Willy Woo predicts that Bitcoin could reach a size comparable to the US dollar based on its adoption curve. Currently, Bitcoin’s market cap is around $1.2 trillion, but Woo believes it needs to grow tenfold to reach $10 trillion and become a reserve asset. Comparison to Internet Adoption Woo compares Bitcoin’s…
Introduction Florida Congressman Matt Gaetz has proposed a bill that would allow Americans to pay their federal income taxes in Bitcoin. This proposal aims to modernize the tax system and enhance the country’s technological leadership. Benefits of Bitcoin for Tax Payments Gaetz believes that Bitcoin offers several advantages for tax payments: Streamlined system: Bitcoin transactions…
Analyst Predicts $72,000 Resurgence Despite the recent market dip, cryptocurrency expert Javon Marks believes Bitcoin (BTC) is poised for a significant rebound. Technical Indicators Point to Recovery Marks analyzes technical indicators like the Relative Strength Index (RSI) and identifies a bullish divergence pattern, often a precursor to market upswings. He also notes the stability of…
Burns Skyrocket 101% Shiba Inu has witnessed a surge in token burns, with the daily burn rate doubling in the past 24 hours. Over 19 million tokens have been removed from circulation, a significant increase from the previous day’s 10 million. Weekly Burn Rate Declines Despite the daily surge, the weekly burn rate remains lower…
On Tuesday, the Cardano network faced a DDoS attack, a malicious attempt to disrupt its operations. However, the network’s robust mechanisms successfully countered the attack, ensuring stability and continued operation. Attack Details The attack started with a surge of transactions executing complex smart contracts and spending minimal ADA. This strategy aimed to overload the network…
A prominent trader has issued a warning about a popular Solana-based cryptocurrency known as dogwifhat (WIF). Technical Indicators Suggest Downward Trend According to the trader, known as Bluntz, technical analysis indicates that WIF could experience further price declines in the coming weeks. He points to a 109-day uptrend earlier this year, suggesting a similar duration…
A recent survey by Nomura’s digital asset arm, Laser Digital, reveals that over 50% of Japanese institutional investors plan to invest in cryptocurrencies within three years. Diversification and Inflation Hedge The survey, which polled over 500 investment managers, found that 60% of respondents view crypto as a diversification opportunity, while 37% consider it a hedge…
On-Chain Analyst Warns of Potential Risks Bitcoin (BTC) is approaching a “top heavy” zone, which could lead to further price corrections, according to on-chain analyst Checkmate. What is a “Top Heavy” Zone? Checkmate explains that a top heavy zone occurs when “too many people buy too many coins at too high of a price.” This…
The German government has transferred 900 Bitcoin (BTC) to crypto exchanges Kraken and Coinbase in the past 24 hours. Kraken and Coinbase Transactions The government’s Bitcoin wallet sent 200 BTC to Kraken and another 200 to Coinbase. The remaining 500 BTC were sent to an unknown address. Previous Transfers Earlier this month, the government moved…
