[ad_1] The final countdown for Bitcoin ETF approval has begun, MicroStrategy adds more BTC to its stack, and what were the biggest crypto stories of last year? These stories and more, this week in crypto. Lowest Bitcoin Balance Since 2018 Over 28,000 Bitcoins valued at $1.2 billion exited centralized exchanges on Thursday, marking the largest daily outflow since December 2022. As investors express their preference for holding their own coins for the long-term, the result is the lowest Bitcoin balance on exchanges since April 2018. Altcoin rankings shuffled a bit, as Solana’s SOL stumbled, while BNB surged by 15%, reclaiming…
Author: Robert McCracken
[ad_1] China is back in the crypto game, a new dog plays the same old memecoin trick, and which coin has stolen the show this altcoin season? These stories and more, this week in crypto. New 4th Largest Crypto Solana’s SOL token surpassed Ripple’s XRP and Binance’s BNB to become the fourth-largest cryptocurrency globally. Driven by a thriving DeFi ecosystem and the rise of meme coins on the Solana network, most notably Bonk, SOL’s price climbed to a 20-month high. Solana’s total locked value exceeded $1 billion, and its daily stablecoin transfer volume also skyrocketed by 600%, surpassing both Ethereum…
[ad_1] A Ledger library has been compromised, Solana’s phone could pay for itself and influential tech leaders stand behind a new venture. These stories and more, this week in crypto. Ledger Wallets Compromised Leading hardware wallet provider, Ledger had its connector library compromised with malicious code. The library is used by various decentralized apps like SushiSwap and Revoke.cash. Although a wallet drainer was added, stealing assets required user action and Ledger addressed the issue promptly. Users are cautioned to halt any transaction immediately if their Ledger device and screen display differ. Solana Phone Sales Surge Solana’s smartphone experienced a surge…
[ad_1] Elon Musk is roasted for a misquote during Dorsey’s BitKey intro, Coinbase now lets you send money through social media and there is a bug fix which could eliminate Bitcoin’s most pressing problem, but at what cost?! These stories and more, this week in crypto. Bitcoin Surged on Rate Rumors As rumors spread that the Fed might lower borrowing rates, Bitcoin surged to its highest value in 20 months, marking 17% gains in a single week. Gold’s price also hit a record high, and with lower yields for US treasuries, the crypto sector rose with broader investor enthusiasm for…
[ad_1] Altcoin season has officially started; crypto stocks, like MicroStrategy and Coinbase are also booming and one bank expects a massive bitcoin price increase much sooner than they originally thought. These stories and more, this week in crypto. Altcoins Outperform Bitcoin Bitcoin touched $39000 this week, its highest price since April 2022, but explosive gains for many altcoins outperforming BTC prompted calls of an altcoin season. AVAX, the native token of the Avalanche blockchain, surged 97% as JPMorgan is testing asset tokenization on its network. Beyond AVAX, Helium, Blur and Rune were among the best performing altcoins, doubling in value…
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[ad_1] A stablecoin invests into crypto mining, a fake tweet moves markets again, and a Binance client executive is kidnapped and robbed! These stories and more, this week in crypto. Stablecoin Moves into Bitcoin Mining Leading stablecoin issuer Tether is investing $500 million into bitcoin mining operations aiming to become one of the largest miners in the world. The firm is building mining facilities in South and Central America with the ambitious plan to contribute 1% of Bitcoin’s total network computing power. Tether disclosed a $3 billion cash surplus in its recent attestation report. Bitcoin ETF Decisions Face Delays Amid…
[ad_1] Sam Bankman-Fried found guilty on all counts, bitcoin bull Cathie Wood raises deflation concerns, and a global investment manager says there is a digital asset that could see a 100x return. Which one? Stick around. These stories and more, this week in crypto. SBF Found Guilty on All Counts Former FTX CEO Sam Bankman-Fried was found guilty on all seven charges brought against him; including wire fraud, securities fraud, and money laundering, in one of the largest financial fraud cases in history. A Manhattan federal court jury convicted him in just five hours on charges that he stole $8…
[ad_1] Extreme greed props up the crypto market, Sam Bankman-Fried takes the stand, and Binance woes take a big bite of its founder’s net worth. But how much? Stick around. These stories and more, this week in crypto. Bitcoin at 18 Month High Optimism driven by anticipation of a spot ETF lifted Bitcoin to its highest levels since May of last year, with a remarkable 14% daily gain. At the same time, the Crypto Fear & Greed Index, which gauges market sentiment also reached its highest level since Bitcoin’s all-time high in November 2021. Higher numbers in this index reflect…
[ad_1] ETF hype sends markets on a rollercoaster, Binance is making changes in Europe and did an FTX prosecutor really reference Dumb and Dumber?! These stories and more, this week in crypto. Bitcoin Tests $30,000 On ETF Momentum Bitcoin’s price tested the $30,000 mark twice this week with growing anticipation of a long-awaited Bitcoin spot ETF. Ethereum and the broader altcoin market also trended higher. Even though a published report that a spot ETF had been approved was later retracted, several large market participants this week expressed their confidence in an eventual US spot Bitcoin ETF approval. News Error Causes…