Constantly diluting supply with token unlocks, selling pressure from venture funds, lack of fresh inflows to crypto and seasonal trends all contributed to the brutal drawdown in altcoin prices.
Investment management firm VanEck intends to charge a fee of 0.20% on its proposed spot Ethereum exchange-traded fund (ETF), as per a U.S. Securities and Exchange Commission (SEC) filing. The SEC recently approved applications from Nasdaq, CBOE, and NYSE to list ETFs tied to the price of Ether, the cryptocurrency underlying the Ethereum network, potentially…
Bitcoin is currently trading around $71,000, marking a nearly 9% increase in the past 24 hours. Bitcoin futures market shows no signs of overheating so far According to an analyst’s explanation in a CryptoQuant Quicktake post, BTC’s funding rate has remained relatively low recently. The “funding rate” refers to an indicator that tracks the periodic…
Toncoin (TON) has shown better performance than Bitcoin (BTC) in recent days. TON has increased 21.36% over the past 7 days and 4.98% over the past 24 hours, according to data from CoinMarketCap. Meanwhile, BTC is down 2.84% over the past week and up 2.26% over the past 24 hours. TON’s social volume increased by…
Recent data indicates that Bitcoin and Ethereum have little correlation with traditional markets, suggesting independent shaping of cryptocurrencies. Correlation between BTC and ETH According to data from IntoTheBlock, the correlation between BTC and ETH with traditional markets and commodities has recently been close to zero. “Correlation” here refers to the correlation coefficient (r) from statistics,…
Metaplanet Inc., a renowned Japanese company, has invested ¥200 million ($1.25 million USD) to purchase 117.7 bitcoins at an average price of ¥10,193,536 per bitcoin, marking its bold entry into the cryptocurrency market through Bitcoin. Metaplanet Inc, a leading consulting and investment company in Japan, created a stir in the cryptocurrency market with a groundbreaking…
Bitcoin BTC$60,856 returned to $63,000 on May 10 as overhead liquidity thickened past $100 million. Bitcoin liquidity battle heats up Data from Cointelegraph Markets Pro and TradingView showed BTC/USD spiking to local highs of $63,876 on Bitstamp before consolidating. BTC price action improved overnight after seeing lows under $61,000 — a weakness that persisted despite hot United States unemployment figures. Analyzing the…
The cryptocurrency market experienced a lackluster April following a strong rally in the first quarter that led Bitcoin (BTC) to a new all-time high of $73,750.Over the past month (as of May 9, 2024), Bitcoin slumped about 11%. The rise in geopolitical crisis can also be held responsible for this crash. The decentralized nature of…
