Veteran crypto investor Arthur Cheong believes the crypto market may be entering a new phase of growth, similar to the S&P 500 after the 2008 financial crisis. Maturing Market Cheong suggests that the extreme volatility and deep drawdowns that have characterized crypto in the past may become less frequent. Instead, he predicts a more stable…
The Fantom Foundation has pledged 200 million FTM tokens to support the launch of Sonic, the network’s new high-throughput blockchain. Support for dApps and Partners The foundation aims to accelerate the adoption of decentralized apps (dApps) and other partners on the Sonic network. Sonic is designed to link to Ethereum, providing high-speed transactions. Investment Commitment…
Cryptocurrency companies are investing heavily in politics, with the Fairshake Political Action Committee (PAC) raising a staggering $160 million in May. Crypto Giants Back Fairshake Major crypto players like Ripple, Coinbase, and Andreessen Horowitz are among the donors to Fairshake. These companies are aiming to influence the outcome of the 2024 presidential election and other…
Compromised Wallets and Phishing Scam CoinStats, a popular cryptocurrency tracker, has been hit by a security breach. User wallets have been compromised, and scam notifications have been sent to mobile devices. Affected Users CoinStats has confirmed that an unknown number of user-created wallets within the app have been compromised. The company urges all users who…
Check Fraud Leads to Financial Nightmare John and Patrice Pollard, residents of Philadelphia, are suing Wells Fargo after the bank refused to refund $45,678.12 stolen from their account in a fraudulent transaction. The Pollards initially wrote a check for $84.53 to pay their Verizon bill. However, the check was stolen in the mail and altered…
Gen X to Receive Massive Wealth Transfer A recent report from Altrata, a think tank specializing in wealth management, predicts that Generation X will inherit a staggering $31 trillion by 2033. This unprecedented transfer of wealth will come from their baby boomer predecessors. Who’s Passing on the Wealth? The majority of this wealth (87%) will…
Tether’s USDT stablecoin is making waves on the TRON blockchain, surpassing the daily average volume of credit card giant Visa. Daily Volume Tops $53 Billion According to market intelligence firm Lookonchain, USDT’s 24-hour trading volume on TRON recently reached $53 billion, marking a 10% increase from the previous day. This figure eclipsed Visa’s average daily…
Investor Luke Gromen predicts a shift in capital from bonds to stocks, gold, and Bitcoin due to rising inflation. Bond Market Weakness Gromen points to the weakness of the iShares 20+ Year Treasury Bond ETF (TLT) against risk assets and inflation hedges. He believes this signals a potential flight from bonds into other investments. Asset…
Key Levels for Bitcoin Dominance Analyst Egrag Crypto suggests that Bitcoin’s dominance depends on two key levels: 57.5: If Bitcoin breaks above this level, it could signal a surge in its dominance. 50: If Bitcoin falls below this level, it could trigger an altcoin uprising. Investment Decisions If Bitcoin’s dominance rises above 57.5, investors may…
Short-Term Holders Feeling the Heat Bitcoin’s recent price drop has left short-term holders, who typically buy and sell within a few weeks, in a tough spot. They’re now trading below their “realized price” of $66,200, meaning they’re sitting on unrealized losses. What’s the Realized Price? The realized price is the average price at which short-term…
