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The Rise and Fall of Celebrity-Backed Tokens The cryptocurrency market has seen a surge in celebrity-backed meme coins, such as JENNER, RICH, and BANDO. Fueled by the meme coin craze and celebrity endorsements, these tokens initially experienced a surge in trading activity. However, their value quickly plummeted, with some losing up to 90% within days…
BNB (Binance Coin) Crypto analyst Altcoin Sherpa believes BNB, the native token of the BNB Chain, is poised to hit new all-time highs (ATHs). He notes its strong market structure and predicts it will soon break above its current trading range of $621.50. Bittensor (TAO) Sherpa is bullish on TAO, a blockchain platform focused on…
Coinbase, the top crypto exchange in the US, has unveiled a new smart wallet platform that aims to make using blockchain easier than ever. Gasless Transactions One of the key features of the new smart wallets is that they eliminate network fees, known as “gas.” This means users can send and receive cryptocurrencies without paying…
Solana co-founder Anatoly Yakovenko believes Ethereum’s complexity is highlighting Solana’s mission of building an ultra-fast blockchain. Focus on Building Yakovenko emphasized that his focus is on creating a chain that runs as quickly as possible, regardless of network effects or total value locked. He believes that the more layer-2 solutions and networks exist, the easier…
Volume Drop In May 2024, trading volume on centralized crypto exchanges fell significantly to $5.27 trillion, a 20.1% decrease from April. This decline affected both spot and derivatives markets, with spot trading dropping by 21.6% and derivatives by 19.4%. Institutional Interest Despite the overall decline, derivatives trading gained market share due to the SEC’s approval…
Binance, the cryptocurrency exchange, is fighting to dismiss part of a $13 billion lawsuit filed in London. BSV Delisting Controversy The lawsuit claims that Binance and other exchanges conspired to remove the Bitcoin Satoshi Vision (BSV) cryptocurrency from their platforms in 2019. This alleged “anti-competitive behavior” is said to have caused BSV’s value to plummet….
No Tax on Digital Profits Turkey’s Finance Minister has announced that the government will not tax profits from stocks and cryptocurrencies. This move aims to encourage investment and growth in the financial markets. Transaction Tax on the Horizon While digital gains will remain untaxed, Turkey is considering a “very limited” transaction tax on crypto assets….
Arrest and Bail Roger Ver, a prominent Bitcoin investor, was arrested in Spain in April and released on bail in May after posting €150,000. He is required to remain in Spain, surrender his passport, and appear in court regularly. Tax Evasion Allegations The US Department of Justice (DOJ) has indicted Ver on charges of mail…
A crypto expert predicts a second wave of the bull market, driven by a potential shift in the Federal Reserve’s interest rate policy. Federal Reserve to Trigger Rally Analyst Inmortal believes the first interest rate cut will ignite the next round of crypto rallies. “Everything will go up again,” he said, emphasizing the importance of…
Bitcoin miners who had been inactive for over a decade have suddenly transferred more than $7 million worth of BTC. Miner Addresses Reactivated Four miner addresses that mined 25 BTC each in 2013 became active again this week. They transferred a total of 100 BTC, which is now worth over $7 million. Bitcoin Price Surge…
