Most altcoins have headed south over the past several hours, and the second-largest is no exception. XRP, which was among the top performers until yesterday evening, has plunged by double-digits to a new weekly low. As such, it has caused substantial losses to over-leveraged traders, even more than BTC. XRPUSD. Source: TradingView What goes up,…
The US Justice Department has dropped its criminal investigation into Kraken co-founder Jesse Powell. The investigation was launched in 2023 and did not focus on Powell’s crypto dealings. Instead, it centered on allegations from the Verge Center for the Arts – a nonprofit he founded – that he had hacked its accounts and blocked email…
The manufacturing firm has turned to the asset, adopting the treasury model, citing steep financial losses. It has joined the rising list of Japanese companies adopting this strategy, contributing to the billions of dollars already invested in bitcoin within the country. Changing Strategies Kitabo Co., Ltd, a company that engages in the production and sale…
The U.S. Securities and Exchange Commission (SEC) has approved the conversion of Bitwise’s cryptocurrency index fund. However, the agency later issued a stay order halting the launch pending further internal review. Regulator Issues Second Reversal This Month A July 22 filing shows that the SEC had granted an “accelerated approval” for Bitwise’s proposal to convert…
The battle for stablecoin dominance has intensified amidst the broader market rally. New data suggests that the distribution of Tether (USDT) supply between Tron and Ethereum networks appears to alongside Bitcoin’s price cycles. USDT Rivalry In its latest post, CryptoQuant revealed that Tron’s USDT supply was just a fraction of Ethereum’s, with a ratio of…
Altcoins are showing broad strength following Bitcoin’s explosive July rally. Surging open interest across the sector, however, suggests speculative froth may be building. Such a build-up may raise the risk of sharper volatility ahead. Traders Bet Big on Altcoins Bitcoin rallied from $105.4K to a new ATH of $122.7K this month, which pushed its realized…
Bitcoin’s most recent rally has sparked investor conviction rather than the sort of panic selling seen in previous bull cycles. Key on-chain metrics show a surprising trend: major holders aren’t moving their crypto to exchanges despite prices hovering just below all-time highs. The Confidence Signal According to a July 23 post by CryptoQuant analyst Arab…
While the 12-day inflow streak for spot Bitcoin ETFs ended, the same cannot be said for their Ethereum counterparts. In fact, spot Ethereum ETFs have extended their 12-day inflow streak. On July 21 alone, spot BTC ETFs saw $131 million in outflows. This represented the first net withdrawals during this rally toward Bitcoin’s all-time high,…
Binance’s unrealized profit on its Bitcoin reserves has reached an all-time high of around 60,000 BTC. The latest data revealed that Binance’s BTC reserves have been on a steady decline since September 2024, from approximately 631,000 BTC to 574,000 BTC, even as the crypto exchange’s unrealized gains on these holdings continue to climb. Bitcoin Reserves…
Ethereum’s current rally has reignited talk of an incoming altseason, but not everyone is convinced the party will last. Market intelligence platform Santiment has warned that growing chatter about an altseason could signal an impending spike in volatility, citing historical patterns of market reversals following crowd euphoria. Signs of Altseason Emerge Over the past three…