Author: CryptoHoppers
A widely followed crypto analyst and trader believes that one Ethereum (ETH) rival is well below fair market value. Crypto trader Michaël van de Poppe tells his 722,500 followers on the social media platform X that layer-2 scaling solution Polkadot (DOT) could follow ETH’s upward trend. “DOT is likely going to follow Ethereum in its expansion upwards. This means that the current valuations of Polkadot are extremely low. I expect a lot from the Polkadot ecosystem with all the new segments.” Source: Michaël van de Poppe/X Looking at his chart, he suggests the possibility of a bullish divergence for DOT…
The blockchain space saw a big week of venture capital (VC) activity, with 23 startups securing over $154 million in funding. According to data from Crypto Fundraiser, the amount of money that flooded the crypto space exceeded last week’s total by almost $91 million. VC firms also funded 10 more projects this week than last week. Crypto fundraising, June 23 – 29, 2024 | Source: Crypto Fundraising Here’s a breakdown of the top deals: Conduit, $37 million Conduit led the pack. The crypto infrastructure dominated with a $37 million series A round. Paradigm and Haun Ventures co-led the effort. Robot Ventures,…
Key Takeaways The court found that the SEC’s reliance on the argument that BNB tokens represent investment contracts throughout their lifecycle is insufficient. The dismissal may provide a legal basis for other exchanges to contest similar regulatory challenges. Share this article The US Securities and Exchange Commission (SEC) lost its bid to classify sales of BNB, Binance’s native token, on secondary markets, and the Binance USD (BUSD) stablecoin as securities, according to a court filing signed by Judge Amy Berman Jackson on June 28.The court referenced Judge Analisa Torres’ 2023 ruling in the SEC vs. Ripple Labs case to dismiss…
In June, the number of cryptocurrency automated teller machines (ATMs) saw a slight decline, yet 377 new ATMs were installed during the month. Since January 2024, data shows a total of 2,564 crypto ATMs have been deployed globally. 2024 Sees Steady Rise in Crypto ATMs Despite June Dip At the end of 2022, there was […] Source link
Open interest in Bitcoin ($BTC) is high. This has sparked a series of questions regarding the token’s ability to sustain optimistic resistance margins. One theory that has come forward states that the Open Interest, or OI, is high because short positions are greedy. The theory further states that shorts have around $8 billion, while long positions have just more than a billion dollars on their side. Many are now expecting the trend to mirror the pattern of April–May 2024. Bitcoin’s profit supply has dipped to 76%. Earlier reports put it at 100% in March of this year. This dip has…
GMX has been the initiator for introducing Chainlink data streams on Avalanche, utilizing data streams to boost its decentralized perpetual exchange. Chainlink data streams help pitch advanced high-output DeFi markets on Avalanche. The other players in this include Chainlink and Avalanche. Chainlink data streams is an all-inclusive data service targeting the DeFi space. It combines low-latency market data with automated implementation to offer advanced and highly accelerated output DeFi items. With high-level market-related data and a decentralized framework, data streams allow high-output DefFi items to bring about smooth user exposure. According to Chainlink Labs’ Chief Business Officer Johann Eid, it…
Photo by Brad Weaver on Unsplash. Key Takeaways The Supreme Court’s overturn of Chevron limits the SEC’s interpretive authority over crypto. The decision mandates judicial resolution of statutory ambiguities, impacting broader regulatory practices. Share this article The US Supreme Court’s 6-3 decision to overturn the Chevron doctrine marks a significant shift in federal regulatory power, with potential far-reaching implications for crypto policy.The ruling, led by Chief Justice John Roberts, dismantles a 40-year-old legal precedent that required courts to defer to federal agencies’ interpretations of ambiguous laws, potentially presenting a substantial impact to the SEC’s approach on crypto policy.Under the previous…
The General Assembly of the U.S. state of North Carolina has approved a bill that prevents the state from participating in the Federal Reserve’s testing of a central bank digital currency (CBDC). The General Assembly is North Carolina’s legislative body, comprising two chambers: the House of Representatives and the Senate. The bill passed with significant […] Source link
Bitcoin (BTC) and the broader crypto market are at risk of a further downtrend following a recent development involving the US and German governments. On-chain data suggests that both governments are looking to offload a substantial amount of their BTC holdings. US Government Send $240 Million In Bitcoin To Coinbase Prime On-chain analytics platform Arkham Intelligence revealed in an X (formerly Twitter) post that the US government had sent 3,940 BTC ($240 million) to Coinbase Prime. This has raised fears that the government may be looking to offload these crypto tokens, which would exert more selling pressure on the flagship…
Moe Vela, a former senior advisor to President Joe Biden, shared his thoughts on crypto’s possible role in tonight’s presidential debate. The presidential debate between incumbent Joe Biden and former President Donald Trump may very well be the most televised event this year. For cryptocurrency enthusiasts, the debate comes at a time when digital assets like Bitcoin (BTC) and Ethereum (ETH) have become hot topics in Washington. In addition to approved spot BTC ETFs, expected spot ETH ETF greenlights, and crypto bills like FIT 21, Grayscale Investments and The Harris Poll reports stated that “nearly half of likely American voters…