As the cryptocurrency market continues to exhibit a positive price action, with top altcoins adding significant value to their respective portfolios, the market leader, Bitcoin, has managed to maintain its price above the crucial $71,000 mark. In a similar vein, Ethereum, the leader of altcoins, has displayed a comparable price
Cryptocurrencies have been one of the most intriguing financial phenomena of the past decade, with Bitcoin (BTC) leading the charge. As we look ahead to June 2024, market analysts and enthusiasts are buzzing with speculation about Bitcoin potentially hitting a new all-time high. If this happens, the ripple effects are
The cryptocurrency market is currently in a consolidation phase, with Bitcoin trading at $71,377, experiencing a modest 0.77% price surge, while Ethereum has seen a 0.69% decrease, bringing its value to $3,824. This period of market stability is marked by the absence of significant gains among the top 50 coins
In the volatile world of cryptocurrencies, market consolidation phases often bring a period of calm and strategic repositioning. The cryptocurrency market is currently experiencing one of these phases, characterized by relatively stable prices and lower trading volumes. This phase is a breeding ground for strategic maneuvers by big whales—large holders
Amidst Bitcoin’s price surge beyond $71,000 recently, substantial inflows into the U.S.-based spot Bitcoin ETFs have restarted. Bitcoin exchange-traded funds (ETFs) saw inflows of about $500 million on Wednesday, with Fidelity’s FBTC maintaining the lead. Despite BlackRock’s long-standing dominance in spot Bitcoin ETF inflows, Fidelity’s FBTC has lately overtaken it.
In the last 24 hours, Bitcoin’s price has surged by approximately 1.9%, recently trading above $71,000 and reaching a peak of $71,735. This bullish momentum suggests that the cryptocurrency could climb even higher if BTC manages to break through the key resistance level at $72,000. Despite a significant increase on
The industry-leading DeFi platform Solv Protocol, which offers yield and liquidity prospects across major assets, has announced a historic integration with Ethena. For Bitcoin-based assets, which have traditionally lagged behind Ethereum and other EVM-compatible chains in this regard, this alliance marks a significant step toward introducing substantial yield-earning prospects. In its
The largest Japanese crypto exchange, DMM Bitcoin, made an official statement on Wednesday that it will raise 50 billion Yen to buy Bitcoin. The Bitcoin purchase worth $321 million is to reprimand customer losses over the recent security breach according to Bloomberg reports. On June 3, DMM Bitcoin reported a
Despite a 54% decline in sales for the entire non-fungible token (NFT) market in May, digital collectibles on Bitcoin hit a new milestone. The overall sales volume of NFTs on the Bitcoin blockchain reached an all-time high of over $4 billion, according to NFT data tracker CryptoSlam, which was published
Unrealized losses in the US banking industry totaling $517 billion were disclosed by the Federal Deposit Insurance Corporation (FDIC). Concerns regarding the stability of the US economy and financial sector have been sparked by the FDIC’s announcement that 63 banks are at risk of insolvency. A larger-than-expected drop in manufacturing
