In the recent days, Bitcoin has experienced a significant increase in its price, reaching $65,000 for the first time since early August. This sudden surge of $5,000 has left many investors and analysts wondering about the reasons behind such a drastic movement in the market. One of the primary factors that seem to have influenced
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The historical on-chain data indicates that high bitcoin demand typically precedes price recoveries and rallies. However, the current market dynamics paint a different picture. Recent reports from CryptoQuant reveal that bitcoin demand has slowed significantly since early April, when the crypto asset was hovering around $70,000. The slow daily growth of bitcoin and the declining
Ripple has recently made waves in the cryptocurrency industry with its announcement of the upcoming launch of a stablecoin named Ripple USD (RLUSD). This new stablecoin is set to be available on both the XRP Ledger (XRPL) and Ethereum platforms, with the aim of bridging the gap between the crypto world and traditional finance. In
Binance, the world’s leading cryptocurrency exchange, has announced that it will be performing wallet maintenance for The Open Network (TON) on August 26. During this maintenance period, TON deposits and withdrawals will be temporarily suspended for approximately two hours. However, it is important to note that trading of the TON token will not be affected
Bitcoin’s price has been volatile in recent days, with bulls currently in control pushing the price above $60,000. However, weekends typically see lower trading volumes, impacting market depth. Lower liquidity during weekends can lead to more significant price movements. For instance, in the past, BTC dropped from above $62,000 to below $57,000 during a weekend.
The recent transfer of former Binance CEO Changpeng Zhao from FCI Lompoc II to the RRM Long Beach halfway house in California has caused confusion among users who mistakenly believed that he had been released. Despite the change in location, CZ remains incarcerated and is not yet a free man. The RRM Long Beach facility
Pi Network is a unique crypto project that was introduced in 2019 with the goal of allowing users to mine and earn digital assets on their mobile devices. Unlike traditional cryptocurrencies that rely on energy-intensive Proof-of-Work (PoW) algorithms, Pi Network utilizes the Stellar Consensus Protocol (SCP) developed by the Stellar Development Foundation to be more
In recent times, there has been a notable shift in the Layer 2 network arena, with Base, an Ethereum Layer 2 network that originated from Coinbase, experiencing a rapid surge in popularity. Data from IntoTheBlock has revealed that Base now boasts almost 40% more daily active addresses compared to its competitors, Arbitrum and Optimism combined.
Bitcoin experienced a significant drop recently, falling from $59,600 to $56,300 before bouncing back. Despite this initial dip, the bulls were quick to react and prevent any further losses. The cryptocurrency then traded sideways around the $60,000 mark over the weekend. However, a retracement on the following Monday drove the price down to $58,000, only
The recent Bitcoin market has seen fluctuations due to various factors, including an influx of around 100,000 BTC from the German and US governments selling and Mt. Gox distributions. This influx has led to speculation and the creation of more paper BTC through derivatives like futures and options. However, the market crash in early August