Not Bought, Not Seized: UAE Mines $700 Million Bitcoin Stash
The United Arab Emirates (UAE) has acquired a stash of Bitcoin valued at about $700 million as part of an unusual strategy. The UAE’s strategy did not involve buying or confiscating Bitcoin like other governments. Rather, it was mined by a state-supported operation throughout the UAE. This represents a novel global trend in the accumulation
Months After the Coinbase $300M+ Hack, What Has the Hacker Been Up To?
On May 11, Coinbase, one of the biggest exchanges recognized globally, shared an email they received from an unsolicited address. According to what the CEO, Brian Armstrong, shared, the sender asked Him (Coinbase) to pay $20 million in order not to leak the sensitive information of users. But other than paying it, the CEO decided
Bitcoin ETFs Are Getting Dumped: 6-Day Outflow Spells Market Turmoil
Bitcoin’s price slid to a multi-week low of under $109,000 on August 26th, down about 2% from the previous day. As crypto majors continued to bleed this week, data suggest that retail investors are panicking. Is This the Bottom? Bitcoin ETFs are experiencing their longest outflow streak in six market days, a trend not seen […]
Bitmine Immersion Buys Another 4,871 Ethereum Worth $21.28 Million, Bringing Total ETH Holdings to $7.65 Billion
The Ethereum accumulation race continues with greater ETH buying from reputed financial institutions and treasuries. Most recently, Bitmine Immersion bought another 4,871 Ethereum worth $21.28 million, bringing its total ETH holdings to 1,718,770 ETH, amounting to a total value of $7.65 billion. With the price of ETH trading in the $4,400 price range, these entities […]
Tether Stays On Top, But These Three Competitors Are Closing In On USDT
The recent passage of the GENIUS Act introduced a new regulatory framework for stablecoins, such as Tether (USDT), drawing increasing attention from traditional and cryptocurrency firms. Tether’s Regulatory Challenges And Rising Rivals With the stablecoin market growing from $120 billion in October 2023 to $288 billion as of August, Tether’s USDT continues to hold its […]
Bitcoin Suffers Technical Setback, Loses 100-Day Average as XRP, ETH and SOL Hold Ground
This is a daily analysis by CoinDesk analyst and Chartered Market Technician Omkar Godbole. Bitcoin’s (BTC) technical outlook has deteriorated over the past 24 hours, with prices dropping below a key moving average for the first time since April. This breakdown has left BTC at a disadvantage compared to major tokens such as Ether (ETH), […]
Kraken Meets SEC Crypto Task Force to Discuss Asset Tokenization
Kraken has held talks with the US Securities and Exchange Commission (SEC) over its plans to expand into tokenized markets, highlighting rising scrutiny of one of the fastest-growing corners of crypto. Key Takeaways: Kraken met with the SEC to discuss regulatory frameworks for its tokenized trading system. Regulators are pressing for stricter oversight of tokenized […]
Bitcoin Cynic Peter Schiff Warns BTC Could Drop to $75K, Below Strategy’s Avg. Buy
Economist and persistent Bitcoin critic Peter Schiff has predicted that BTC would slip to about $75,000 at a minimum, lower than Saylor-led Strategy’s average cost. He advocates BTC holders to “sell now and buy back later.” He said in a thread on X that selling now and buying back lower “beats justing riding it all […]
Buy the Dip? Stellar (XLM) Set for $1 Breakout if These Levels Hold
TL;DR XLM shows an inverse head and shoulders, with $0.50 neckline signaling a possible $1 breakout. Trading volume and open interest fell, while liquidations lean toward shorts after July’s volatility spike. A new ETF filing could boost U.S.-based tokens like Stellar, expanding institutional exposure opportunities. XLM Price and Market Activity Stellar (XLM) was trading at […]
Tron’s Bullish Momentum Faces Threat – What Could Stop TRX’s Rally?
Tron’s TRX has often moved differently than the broader market, showing surprising independence. While Bitcoin and Ethereum dropped more than 5% in the past week, TRX slipped by just over 1%. This smaller pullback came after eight straight weeks of bullish gains. Now, the big question for investors is whether TRX can maintain that streak […]
Ethereum Price Soars 200% Since April on Surging Network Demand
The price of Ethereum (ETH) has rocketed 200% from its mid-April lows, but the real story is unfolding on its blockchain. While a recent pullback from its new peak above $4,900 captured headlines, there’s a resurgence in fundamental network activity, suggesting this is more than just a speculative rally. On-Chain Fundamentals Ignite Michael Nadeau of […]
Stablecoins Could Disrupt Banks, Similar to 1980s Financial Crisis: Report
Citigroup analyst Ronit Ghose issued a warning that interest on stablecoins would pose a potential threat of a huge flight of deposits out of banking. Ghose warned that, like money market funds in the late 1970s and early 1980s, these assets may cause investors to initiate a run on the deposits. This warning is issued