What’s Driving This Trend? Data from the Bitcoin blockchain shows that the number of “Coin Days Destroyed” (CDD) has reached an all-time high. This metric measures the number of days that Bitcoin has been held without being moved. Spike in CDD The recent spike in CDD is larger than the one observed during the November…
Crypto expert Crypto Jelle says that Bitcoin is still in a good position, even after a lot of Bitcoin was moved from the old Mt. Gox exchange. Mt. Gox Transfers Mt. Gox, a Bitcoin exchange that went bankrupt in 2014, moved about $9 billion worth of Bitcoin to an unknown wallet on Monday. This is…
Chainlink co-founder Sergey Nazarov believes the SEC’s approval of Ethereum ETFs is a sign of things to come for other cryptocurrencies. Approval Signals Wider Adoption Nazarov sees the Ethereum ETF approval as a step towards broader acceptance of crypto assets by traditional financial institutions. He believes it will pave the way for ETFs for other…
A Shiba Inu (SHIB) holder has made a massive profit after holding onto the memecoin for over three years. 3.5-Year Patience Pays Off On-chain data from Lookonchain reveals that the investor bought 48 billion SHIB in February 2021 for $2,625. On May 27th, they sold their holdings for $1.1 million, a gain of over $1.09…
Memecoins on the Rise Crypto analyst Bluntz believes that two popular memecoins, Pepe (PEPE) and Floki (FLOKI), are poised for further gains. PEPE: Bluntz predicts a potential surge to $0.000028, representing a 75% increase from its current price. FLOKI: Bluntz anticipates a new all-time high of $0.00044, based on its recent price action. Ethereum’s Next…
Former Coinbase executive Balaji Srinivasan has criticized the Federal Reserve for its “unpredictable monetary policy.” Predictable vs. Unpredictable Srinivasan argues that Bitcoin has a “predictable monetary policy” because its issuance is determined by a set schedule. In contrast, he says the Fed “just pick[s] rates out of a hat” based on outdated data and political…
Ripple Labs has pledged another $25 million to Fairshake, a political action committee (PAC) that supports candidates who promote cryptocurrency-friendly policies. This brings Ripple’s total contribution to Fairshake to $50 million, making it the PAC’s largest donor. Ripple’s Political Strategy Fairshake supports candidates from both major political parties who advocate for laws that encourage crypto…
Deaton’s Criticism of Gensler Prominent XRP attorney John Deaton has been outspoken in his criticism of SEC Chairman Gary Gensler’s regulatory approach. Deaton argues that Gensler’s actions against companies like Ripple, LBRY, and Coinbase have been harmful and antagonistic. He believes that the SEC’s relentless pursuit of Ripple executives has created a negative impact on…
Changing Perceptions Following the approval of Bitcoin spot ETFs, a survey by Grayscale reveals a significant shift in American voters’ attitudes towards cryptocurrencies. Bitcoin as a Future Investment Two-thirds of Bitcoin owners view it as an investment in blockchain technology’s future. Over 65% of voters consider Bitcoin a future investment, while 53% see it as…
Bitcoin Dominance Bitcoin remains the king of crypto, with over 50% of the market value. This dominance limits the growth potential for altcoins. Altcoin Season Index The Altcoin Season Index, which measures the outperformance of altcoins against Bitcoin, currently sits at 35. An index value of 75 indicates the start of an altcoin season. Ethereum’s…
