Outflows Hit Crypto Products Institutional investors have withdrawn a staggering $435 million from crypto products last week, marking the third consecutive week of outflows, according to CoinShares. Bitcoin and Ethereum See Heavy Losses Leading cryptocurrencies Bitcoin (BTC) and Ethereum (ETH) experienced significant outflows of $423 million and $38 million, respectively. Grayscale Outflows Decelerate Grayscale, a…
Accounting firm KPMG has reported that institutional investors are increasingly turning to cryptocurrencies as a way to protect their investments against the potential devaluation of fiat currencies by central banks. Canadian Market Growth In Canada, KPMG’s study found that: 50% of financial service providers now offer crypto asset services, up from 41% in 2021. 39%…
Bitcoin analyst Willy Woo believes a crucial moment is approaching for the cryptocurrency as the bearish trend fades. Bearish Momentum Easing Woo notes that the cumulative volume delta (CVD) indicator, which measures buying and selling volume, is showing signs of less bearishness. He highlights a key level of $59,600 that has historically separated bullish and…
SEC’s Warning to Exchanges Thailand’s Securities and Exchange Commission (SEC) has issued a warning to crypto exchanges about misleading advertising. Exchanges must ensure their ads are accurate and focus on protecting investors. Regulatory Compliance Exchanges must adhere to regulatory rules, including: Avoiding false or exaggerated claims Disclosing risks clearly Not pressuring customers into investments IBA…
Analyst Willy Woo warns that if the U.S. government seizes Bitcoin like it did gold in the Great Depression, retail investors could be in trouble. Whale vs. Retail: Who Controls Their Coins? Whales: Large Bitcoin holders who control their private keys, allowing them to sign transactions and prove ownership. Retailers: Everyday investors who typically store…
Hashrate Sets Record For the first time ever, Bitcoin miners need more than 1 exahash per second (EH/s) of computing power to mine just one Bitcoin (BTC). This is a new all-time high for the “Hashcoin” indicator, which tracks the daily hashrate required to produce 1 BTC. Constant Block Time Bitcoin’s blockchain ensures that the…
Ethereum’s Security Status The Securities and Exchange Commission (SEC) believes Ethereum (ETH) is an “unregistered security.” This view is based on the Howey Test, a legal framework that many crypto enthusiasts consider outdated. SEC’s Investigation In March 2023, the SEC launched an investigation into Ethereum’s status as a security. The investigation focused on individuals and…
Freezing Accounts and Transferring Funds New York Attorney General Letitia James has penalized Pathward Bank, a national bank, for illegally freezing customers’ accounts and transferring their funds to debt collectors. An investigation by the Office of the Attorney General (OAG) found that Pathward froze hundreds of accounts more than 1,400 times and transferred tens of…
Toncoin (TON) Crypto trader Loma is optimistic about Toncoin (TON), the native token of the Toncoin project. He plans to buy TON around $5 and add to his position if it reaches $6. Loma believes TON has the potential to perform well in the current market cycle. Binance Coin (BNB) Loma also sees Binance Coin…
Justin Sun, the founder of Tron (TRX), has been buying up Ethereum (ETH) worth hundreds of millions of dollars as the crypto market experiences a correction. Accumulating Ethereum According to blockchain-tracking service Lookonchain, Sun has acquired 176,117 ETH, valued at approximately $559.7 million, since April 8th. This represents an average purchase price of $3,170 per…
