Amidst Nigeria’s crackdown on cryptocurrency, Tigran Gambaryan, a detained Binance executive, has filed a lawsuit against the Nigerian government. Allegations of Rights Violation Gambaryan claims that his detention and passport confiscation violate Nigeria’s constitution. He alleges that he was invited to discuss Binance’s operations in Nigeria and did not commit any offenses. Demands for Release…
Open Interest: A Measure of Market Activity The total open interest in the crypto market, which measures the number of active derivative positions, has reached an all-time high of $51.3 billion. This indicates that investors are actively placing bets on the future direction of cryptocurrencies. Volatility Ahead? Typically, high open interest levels suggest increased leverage…
Mike Novogratz, CEO of Galaxy Digital, believes that the soaring US debt will accelerate the adoption of Bitcoin (BTC). Debt-Driven Bitcoin Demand Novogratz argues that investors are increasingly recognizing the value of Bitcoin as a hedge against the US dollar’s potential devaluation due to mounting debt. “Our government is adding a trillion dollars of debt…
Floki (FLOKI) Crypto analyst Kaleo believes Floki is poised for a significant rally against Bitcoin (FLOKI/BTC). The chart shows a bullish trend with higher lows, indicating a potential breakout of a key resistance level. Kaleo predicts FLOKI/BTC could reach $0.000340, surpassing its all-time high. BNB Kaleo is also optimistic about BNB, the native token of…
Cryptocurrency expert Ali Martinez believes a lesser-known memecoin called Brett (BRETT) is poised for a significant increase. Brett’s Potential Rise Martinez predicts Brett could rise by 57% from its current value, reaching $0.080. However, he cautions that a temporary dip to $0.038 may occur before the surge. Bitcoin’s Outlook Martinez also comments on Bitcoin (BTC),…
Hedge fund veteran Mark Yusko believes Bitcoin (BTC) could triple in price in the coming months. Fair Value and Halving According to Yusko, Bitcoin’s fair value is estimated at $50,000 based on network effects. The upcoming halving, scheduled for April 20-21, will cut block rewards for miners. This has historically led to price increases, potentially…
Surge in Burn Rate The Shiba Inu (SHIB) burn rate has skyrocketed by over 17,000% in the past 24 hours, according to Shibburn. This surge has seen a massive 56 million SHIB tokens burned. Impact on Price The burn initiative has been instrumental in boosting SHIB’s price, which has recently made a notable recovery. Large-scale…
The Halving’s Impact As the Bitcoin halving approaches, industry expert Mark Yusko predicts a surge in price. He estimates Bitcoin’s “fair value” at $50,000 using Metcalfe’s law, which measures network effects. The halving, which reduces miner rewards, is expected to disrupt supply and potentially lead to price increases. However, Yusko acknowledges the emergence of transaction…
On-Chain Transactions and Their Impact Sam Bankman-Fried (SBF), the former CEO of FTX, made a series of lesser-known on-chain transactions that had significant consequences for the crypto industry. stETH Sale: SBF sold $75 million of staked ETH (stETH) in January 2022, leading to a depeg event that triggered bank runs on Celsius and Three Arrows…
Odds of Approval Dwindling Bloomberg analyst Eric Balchunas is now only giving a 25% chance of Ethereum Spot Exchange-Traded Funds (ETFs) being approved in May. He’s even considering lowering that estimate. Bitwise’s Latest Filing Bitwise Invest has filed for an Ethereum ETF, using a Form S-1 registration statement. They also filed a 19b-4 form to…
