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Bitcoin higher as market ‘turns corner’ from Binance issues. CZ is the latest exchange founder to fall. SEI and Blur enter the top 100 coins. BNB Binance Coin (BNB) lost 8% last week after news of a settlement with the U.S. Department of Justice. The deal will see the exchange pay a fine of $4.3 billion while its founder and CEO Changpeng Zhao will step down and face a jail sentence. Also known as CZ, Zhao is the latest exchange founder to fall, just a few weeks after Sam Bankman-Fried was convicted for the fall of the FTX exchange. The…
Blast is the latest Layer 2 network to burst into the scene in the last week and has taken the decentralized finance (DeFi) world by storm already. This network which seemingly came out of nowhere has backing from Paradigm, and as its popularity has risen, it has surpassed Base and Cardano’s Total Value Locked (TVL) in less than a week after launch. Blast TVL Crosses $565 Million The Blast network was officially announced on November 21 and it quickly garnered support from crypto investors. In the first day, the network saw over $81 million in crypto locked. And in two…
Solana rallied above the $65 resistance against the US Dollar. SOL price is now correcting gains and might even slide below the $50 support. SOL price started a major rally above the $60 resistance before the bears appeared against the US Dollar. The price is now trading below $60 and the 100 simple moving average (4 hours). There was a break below a short-term rising channel with support near $58.00 on the 4-hour chart of the SOL/USD pair (data source from Kraken). The pair could accelerate lower below the $55.00 support zone in the coming sessions. Solana Price Starts Downside…
The Bitcoin mining difficulty has witnessed another increase in 2023, bringing the metric to a new all-time high. The Bitcoin “difficulty” is a vital aspect of the network that controls the rate at which new blocks are added to the blockchain at a given time. Bitcoin Mining Difficulty Surges To A New High Of 67.96T According to data from BTC Blockchain Explorer, the Bitcoin network experienced a significant adjustment at block height 818,496. This caused the blockchain’s difficulty to soar by 5.07%, reaching a new all-time high of 67.96 T. The mining difficulty is an essential feature that measures how…
The prior week’s notable increase in options trading and derivatives activity made the market look positive. When the price of Bitcoin surpassed $38,000 and set a new record for 2023, buyer interest in the top altcoins increased. As a result, a cryptocurrency that was already trending higher, like BLUR, saw significant price increases. This increase raises concerns about these cryptocurrencies’ ability to sustain their momentum over the coming week. BLUR is the native token of the same-named non-fungible token (NFT) platform. In the world of cryptocurrencies, BLUR is becoming increasingly popular after Binance revealed its listing during a spike in…
Blockchain analytics firm Glassnode has estimated a substantial influx of investor demand following the approval of Bitcoin Spot ETF. The analysis indicates around $70 billion in new money flowing into Bitcoin, potentially setting the stage for a BTC price rally. Bitcoin Spot ETF Set To Ignite New Inflows Blockchain data and intelligence provider, Glassnode has recently published research insights on the potential impacts of Bitcoin Spot ETF approvals on the price of Bitcoin and the broader crypto market. The on-chain analytics company has predicted about $70.5 billion flowing into Bitcoin from increased demand from institutional investors. Glassnode bases its analysis…
Prominent crypto analyst CryptoInsightUK has given his thoughts on whether or not the XRP price can replicate the notable 61,000% gain it enjoyed back in 2017. Although the analyst sounded uncertain about how things could pan out, he provided insight as to what the future holds for XRP. XRP Price Repeating 61,000% Move Will Be Harder In a post on his X (formerly Twitter) platform, CryptoInsightUK highlighted how XRP exploded in 2017. The crypto token is said to have seen a 61,000% gain in 280 days. As to whether a repeat can happen, he mentioned that it would be harder…
Popular crypto analyst PlanB, known for his strong bullish stance on Bitcoin and the stock-to-flow model, took to X to reiterate an optimistic long-term for Bitcoin. According to the analyst, we might be in the final days of Bitcoin below $40,000. PlanB made a call to action based on his analysis of Bitcoin’s realized price, as all signs point to Bitcoin going on a strong price surge very soon. Enjoy Sub-$40,000 Bitcoin While It Lasts Bitcoin has outperformed other asset classes in terms of price performance this year. Price data shows the cryptocurrency is currently up more than 125% this…
According to Lookonchain data, Sigil, a fund in Gibraltar, has exited BLUR, one of this week’s top-performing tokens, for Lido DAO’s LDO, and IMX, the native token Immutable X–a layer-2 scaling solution primarily dedicated to NFT trading. Sigil Fund Sells BLUR For IMX And LDO On November 24, Lookonchain, a crypto analytics platform, noted that Sigil sold 1.55 million BLUR for 807,799 IMX, worth roughly $1.14 million, and 210,905 LDO, trading at $540,000, at spot rates. The exchange was made via multiple transactions and done on-chain. The swap comes roughly three days after Sigil withdrew 3.1 BLUR from OKX, a cryptocurrency exchange. Surprisingly,…
The XRP price may be gearing towards a bullish momentum with the potential release of multiple ETPs and the anticipated launch of Valour’s XRP ETP into the European markets next month. Valour XRP ETP To Enter European Markets Valour, a publicly traded company backed by DeFi Technologies, a crypto-based software organization, has announced a new XRP Exchange Traded Product (ETP). In a press release published on Wednesday, DeFi Technologies disclosed the launch of Valour’s XRP ETP in December 2023. A popular YouTuber, Zack Rector has stated in a recent YouTube video that the token is positioned to take advantage of…