In Brief After Arbitrum’s recent token unlocking event, approximately 8.95 million ARB tokens, valued at $16.4 million, were transferred to Binance. This move, often interpreted as bearish in the crypto market, coincided with a broader downturn, causing ARB’s price to drop to $1.62. Despite the price decline, Arbitrum remains a dominant force in the Ethereum…
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JPMorgan analysts believe MicroStrategy’s debt-funding approach to Bitcoin purchases could worsen a market downturn. MicroStrategy could raise as much as $600 million from its latest convertible debt offering to purchase more Bitcoin. However, JPMorgan analysts have reportedly cautioned that the firm’s reliance on debt to purchase Bitcoin could exacerbate a market downturn. The firm, led by BTC advocate Michael Saylor, has acquired over…
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In Brief FTX founder Sam Bankman-Fried faces a potential 50-year sentence for orchestrating a major financial fraud. Convicted for defrauding investors and causing the collapse of FTX, his actions are described as driven by greed. The case highlights the need for stricter regulation in the crypto industry and serves as a cautionary tale. Convicted in…
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Mow’s bullish stance on Bitcoin’s future comes at a time when the crypto market is witnessing an unprecedented level of interest from institutional investors. Jan3 CEO Samson Mow said Bitcoin is on track to hit $1 million per coin this year or the next based on market conditions, the upcoming halving, and broader economic factors. Mow made the statement…
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The Dencun upgrade is expected to have a significant impact on Ethereum’s ecosystem, with an anticipated reduction in layer2 network fees. The imminent launch of the Ethereum Dencun upgrade at 14.00 UTC today, March 13, has sparked a notable surge in the prices of native tokens for layer-2 protocols, including Arbitrum, Polygon, and Optimism. According to CryptoSlate’s data,…
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Bitcoin’s surge past $72,000 pushed 99.76% of entities and 99.74% of addresses into profit — the highest level ever recorded. In the ever-fluctuating world of Bitcoin, deciphering market sentiment is akin to reading tea leaves. Yet, advanced on-chain metrics offer a clearer vision, particularly the percentage of addresses and entities in profit—a harbinger of market…
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President Nayib Bukele outlined El Salvador’s lucrative journey within the Bitcoin ecosystem. Nayyib Bukele, the President of El Salvador, revealed that the Central American nation generates multiple Bitcoin revenues from various channels alongside its BTC holdings. In a Mar 11. post on social media platform X (formerly Twitter), the president outlined four additional sources of Bitcoin revenue for the…
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In Brief TON Daily Trading Volume reached new all-time highs, surpassing $314 million. TON EMA lines are still drawing a bullish trend and possible price increases despite the recent surge. The percentage of profitable holders is now at 95%, the biggest value since 2021, which could imply a selling pressure ahead. TON’s daily trading volume…
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Industry experts believe the odds of an Ethereum ETF securing approval in May have fallen significantly due to a lack of activity among relevant parties. In a recent shift of perspective, Bloomberg analysts have significantly lowered the forecast for the approval of a spot Ethereum exchange-traded fund (ETF) by May — setting the probability at a mere…
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In Brief Arbitrum’s native cryptocurrency ARB witnessed a decline amidst anticipation surrounding two pivotal events. As investors brace for a major token unlock event, Arbitrum’s price performance has come under scrutiny. Notably, two whales offloaded approximately 3 million tokens, yielding a substantial profit of more than $3 million. Arbitrum, a prominent Layer-2 network built on…
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