Zero Inflows for the First Time BlackRock’s Bitcoin ETF, iShares Bitcoin Trust (IBIT), has seen a surprising lack of interest from investors. For three days straight (April 24-27), there were zero inflows into the ETF. This is the longest period of zero inflows since its launch. Outflows from Other Bitcoin ETFs While IBIT saw no…
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Stagflation Spooks Crypto Prices Bitcoin and other cryptocurrencies are taking a hit as investors worry about stagflation in the US. Stagflation is a nasty combo of high inflation and slow economic growth, which makes investors nervous. Bitcoin is down 1.5% to $62,559, while Ethereum (ETH) has dropped 3.30% to $3,187. This reflects concerns that stagflation…
Ethereum, the second-biggest cryptocurrency, has seen its transaction fees plummet to a record low of $1.12. Fees as a Market Mood Indicator Crypto analysts believe that transaction fees reflect the overall sentiment in the market. When investors are bullish and expect big gains, fees tend to be higher. Conversely, during downturns, fees drop. Low Fees:…
Market Correction Triggers Altcoin Sell-Offs According to analytics firm Santiment, the recent market correction has led to significant losses for altcoin traders. Over 85% of tracked assets are in a prime opportunity zone, indicating potential for rallies. MVRV Indicator Signals Undervaluation The Market Value to Realized Value (MVRV) indicator suggests that most altcoins are undervalued….
Negligence Alleged SouthState Bank, a financial institution with over $45 billion in assets, is facing a class action lawsuit for allegedly failing to protect its customers’ sensitive personal information. The lawsuit, filed by plaintiff Latonya Gore in Florida, alleges that a February 2024 data breach compromised the names, financial account numbers, and Social Security numbers…
Bull Market Target A popular crypto analyst, Inmortal, believes Bitcoin (BTC) is presenting a rare opportunity for long-term holders. He predicts a rally to a new all-time high in the coming weeks. Inmortal sees the current consolidation as a chance for investors to accumulate BTC at a favorable risk-to-reward ratio. He believes Bitcoin will surge…
The Allegations Taiwanese authorities have charged 32 individuals, including crypto exchange executives, with fraud related to the ACE crypto exchange. Prosecutors are seeking 20-year sentences for the four operators of the platform. The accused include David Pan and Lin Keng-hong, founders of ACE, and Wang Chen-huan, the firm’s chairman. They are alleged to have defrauded…
Akita Goes Global The Akita Inu, a beloved breed from Japan, has gained worldwide recognition. To address concerns about pedigree forgery and lost documents, the Akita Inu Preservation Society has turned to blockchain technology. Blockchain Unleashed Partnering with Meta Akita Inc. and Heirloom Inc., the society has developed a secure system for issuing digital pedigree…
The US Department of Justice (DOJ) has responded to Tornado Cash developer Roman Storm’s request to drop the criminal charges against him. DOJ’s Arguments The DOJ claims that Tornado Cash is a money-transmitting business, despite Storm’s argument that it does not control users’ funds. According to the DOJ, money transmitters in crypto include platforms that…
