The $4.7 billion Bitcoin (BTC) monthly options expiry on June 30 might play a decisive role in determining whether the $30,000 price will consolidate as long-term support and open room for further bullish momentum. Why is Bitcoin breaking yearly highs? Many analysts consider Bitcoin’s recent breakout above $27,000 a bet on the multiple spot Bitcoin exchange-traded
Month: June 2023
Over $204 million was lost in decentralized finance (DeFi) hacks and scams in the second quarter of 2023, according to a June 27 report from Web3 portfolio app De.Fi. The report, titled “Q2 De.Fi Rekt Report,” was partially based on data from De.Fi’s “Rekt Database.” Over $208.5 million was initially lost during the quarter, but
Can you book flights and hotels using AI? The short answer is… kind of, but none of the AI chatbots are reliable, so you’ll still need to do your own research at this stage. Having recently spent hours researching flights and accommodation for a three-week trip to Japan, I decided to compare my results to
A bill that would see North Carolina’s Treasurer study the feasibility and benefits of the state holding Bitcoin (BTC) has passed the lower house of the state’s legislature. On June 28, the House passed the bill which would commission a $50,000 study to examine “acquiring, securely storing, insuring, and liquidating” both gold bullion and “virtual
The volume of Ether staked keeps reaching new heights since the Shapella upgrade in April, crossing 23 million Ether locked in June. According to data from analytics firm Nansen, a total of 23.3 million Ether (ETH) was staked as of June 27, amounting to $43.1 billion at the time of writing and representing nearly 20% of the
Italy’s top banking authority has called for a “robust, risk-based” regulatory framework for stablecoins, which could help prevent a worst case scenario — a “run” on stablecoins. The central bank’s recently released Markets, Infrastructures and Payment Systems report for June 2023 has called on regulators to apply the same financial conduct standards to stablecoin issuers
Cryptocurrency laws in the United States should be “reserved” and not regulate the technology as though every use is financial, argues a commissioner at the U.S. Securities and Exchange Commission. On June 29, Commissioner Hester Peirce — dubbed “Crypto Mom” — appeared remotely at Australian Blockchain Week and was asked how she would regulate crypto, answering:
Bitcoin (BTC) staged another retest of $30,000 support on June 28 as the United States Federal Reserve stayed hawkish on inflation. BTC/USD 1-hour chart. Source: TradingView Powell on rate hikes: “More restriction coming” Data from Cointelegraph Markets Pro and TradingView showed BTC price action sticking to a narrow range at the Wall Street open. This
A large part of the recent leg of Bitcoin’s (BTC) rally started after BlackRock filed to list a spot Bitcoin exchange-traded fund (ETF) on June 15. Several applications by other firms have been rejected by the United States Securities and Exchange Commission in the past. However, BlackRock’s filing has a 50% possibility of getting approved,
Web3 lending platform Maple Finance has announced the launch of a direct lending program, according to a June 28 fact sheet from the platform’s development team. The program is intended to replace services previously provided by Celsius, BlockFi and other now-bankrupt lenders. The first lending pool will be available sometime in July, the company stated.
In the latest episode of The Market Report, analyst and writer Marcel Pechman analyzes some data to conclude whether Bitcoin (BTC) will ever trade at $27,000. Some analysts attribute Bitcoin’s recent 21.5% gains to BlackRock’s spot Bitcoin exchange-traded fund (ETF) filing, but other events might have also fueled the cryptocurrency gains. Pechman asserts that, following
Bitcoin (BTC) may see a “market correction” should BTC price action go much beyond $33,000, research warns. In the latest edition of its weekly newsletter, The Week On-Chain, analytics firm Glassnode flagged speculative selling risk on the horizon. Bitcoin speculator profits average 12% Bitcoin short-term holders (STHs) — the more speculative BTC investors — have
Stablecoin issuer Tether has signed a memorandum of understanding (MoU) with the government of Georgia to develop Bitcoin and peer-to-peer (P2P) infrastructure in the country. The strategic collaboration between the Tether and the Georgian government will focus on building key infrastructure for a thriving startup ecosystem in Georgia. The collaborative effort aims to attract international attention
Ether (ETH) price faced strong resistance at $1,920 after the 17.5% rally between June 15 and June 22. A number of factors contributed to the limited upside, including worsening macroeconomic conditions, the regulatory cryptocurrency environment, and weaker demand for decentralized applications (DApps) on the Ethereum network. ETH price faces macroeconomic headwinds On June 26, a
Back in 1984, a U.K. television advertisement for Kit Kat chocolate bars was set in a music label’s office where a keen young band played their demo for a bored music executive. Afterward, they were served the famous chocolate bars and the manager said: “You can’t sing, you can’t play, you look awful… you’ll go
Investment management firm BlackRock has a 50% chance of getting its spot Bitcoin (BTC) Exchange Traded Fund (ETF) approved, says Bloomberg’s senior ETF analyst Eric Balchunas. Balchunas’ prediction comes following an observation made by Elliott Stein, a senior litigation analyst for Bloomberg Intelligence, who now pegs the chances of Grayscale winning its case against the
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