Bitcoin Exodus Data from Santiment reveals that Bitcoin has experienced a significant drop in holders, marking the largest 3-day decline since March. This indicates that investors are selling their Bitcoin, likely due to concerns about further price drops. Ethereum’s Continued Growth In contrast, Ethereum’s “Total Amount of Holders” metric has remained on an uptrend, with…
Meme Coins Expected to Lead Altcoin Season A crypto analyst has predicted that meme coins, such as Dogecoin (DOGE), Shiba Inu (SHIB), and FLOKI, will play a significant role in the upcoming bull run. These coins, dubbed “Dino Coins,” are expected to soar in value during the altcoin season. Characteristics of “Dino Coins” Fully diluted…
Embezzlement and Money Laundering A Chinese bank, the Bank of Huludao, uncovered a massive embezzlement and money laundering scheme involving two of its former executives. They embezzled a whopping 1.8 billion yuan ($248 million) and used cryptocurrency to launder the funds. Cryptocurrency and Cross-Border Laundering The executives converted the embezzled funds into foreign currency and…
Samara Cohen, BlackRock’s CIO of ETF and index investments, recently stated that registered investment advisors (RIAs) have been hesitant to adopt Bitcoin exchange-traded funds (ETFs). Self-Directed Investors Drive ETF Adoption Cohen estimates that self-directed investors account for approximately 80% of Bitcoin ETF investments. Hedge funds and brokerages have also accumulated shares, but RIAs remain on…
A crypto analyst believes that two decentralized finance (DeFi) altcoins are poised for a major rally. Curve and Convex Finance The analyst, known as Credible, is bullish on Curve (CRV) and Convex Finance (CVX). Curve is a stablecoin exchange, while Convex optimizes yields for Curve tokens. Catalyst for Rally Credible believes that the liquidation of…
Coinbase CEO Brian Armstrong has ambitious plans for the crypto exchange platform. He envisions Coinbase becoming the primary financial account for its customers, replacing traditional bank accounts. Mobile Money Revolution Armstrong believes that the future of banking lies in digital money and mobile access. “Your phone is your bank account in the future,” he said….
Former Coinbase executive Balaji Srinivasan believes that cryptocurrency will play a crucial role as the currency of the artificial intelligence (AI) age. Digital Scarcity and Abundance Srinivasan argues that crypto represents “digital scarcity” while AI represents “digital abundance.” AI will not make everything abundant, however. In fact, Srinivasan believes that cryptocurrency will become even more…
The crypto market has been in a downward spiral lately, leaving investors scratching their heads. Here are three reasons why: 1. Miner Capitulation Bitcoin miners, who are responsible for processing transactions, are seeing their profits plummet. This has forced them to sell off their Bitcoin holdings to cover costs. The increase in Bitcoin transfers from…
The Project That Scared Ethereum’s Founder Cardano founder Charles Hoskinson revealed that NXT was the crypto project that almost overshadowed Ethereum in its early days. Hoskinson, who was Ethereum’s CEO from 2013 to 2014, admitted that NXT scared him more than any other cryptocurrency at the time. NXT’s Impressive Rise NXT emerged from obscurity and…
Environmental Concerns Greenpeace’s report highlights the significant energy consumption of Bitcoin mining, which is primarily due to the Proof-of-Work (PoW) system. This system requires a vast network of computers to solve complex puzzles, resulting in a massive demand for electricity. Wall Street’s Involvement The report argues that Wall Street institutions, such as BlackRock and Vanguard,…
