Author: CryptoHoppers
The Polkadot ecosystem is facing a set of unique challenges in the Web3 ecosystem. To start, it is facing a backlash from the community for its spending. A recent report released by the Polkadot Treasury for the first half of 2024 has raised concerns. Polkadot Faces Challenges There is an uproar in the crypto community especially Web3 concerning Polkadot. Let’s unpack victorji.eth on X, the man behind Manta CeDeFi and the founder of the previous largest (non-DOT) TVL in the Polkadot ecosystem, tweeted ,“I have to say that we do not want to engage with the Polkadot ecosystem and team…
Key Takeaways BlackRock’s iShares Ethereum Trust led with $118 million in inflows, courting major outflows from Grayscale’s fund. US spot Ethereum ETFs collectively posted nearly $34 million in net inflows on July 30. Share this article Net flows into the group of nine spot Ethereum exchange-traded funds (ETFs) turned positive in Tuesday trading as BlackRock’s iShares Ethereum Trust (ETHA) raked in $118 million in net inflows, sufficiently offsetting large withdrawals from Grayscale’s Ethereum ETF (ETHE), according to data from Farside Investors.Investors pulled around $120 million from Grayscale’s ETHE on Tuesday, bringing the outflows after six trading days to over $1.8…
The World Gold Council’s Q2 2024 report highlights a year-on-year increase in gold demand, marking the highest second-quarter demand since 2000. This surge is fueled by central bank purchases and OTC investments, with central bank gold buying up by 6% and technology sector demand rising by 11%. Q2 2024 Sees Record Gold Demand The World […] Source link
The specter of inflation, once a haunting presence in financial markets, is beginning to fade. June’s CPI data, a crucial economic barometer, has signaled a potential turning point. With the annual inflation rate hovering at its lowest point in over three years, the stage is set for some long-awaited fiscal adjustments. A Federal Reserve poised to ease its monetary grip is music to the ears of crypto investors, and as the summer heat intensifies, so does the potential for cryptos to ignite. Plus, as ETH ETF bullishness forms, the potential for gains builds along with it. Four best cryptos to…
As Bitcoin flirted with the $70,000 mark on Monday morning, analysts at Bitfinex issued a cautionary note, suggesting the rally might be short-lived due to an impending significant options expiry. Bitfinex analysts predicted in a note that they expect “potential further downward pressure” on the price of Bitcoin (BTC) as the monthly expiry of around $2.2 billion is set to occur on Aug. 2. They suggest this event could cause Bitcoin to stall or even pull back slightly from the $68,000-$69,000 resistance zone. Despite the risk of a pullback, the analysts highlight that leveraged long positions are currently more influential…
Key Takeaways Compound DAO approved Proposal 289, granting 499,000 COMP tokens to a single user. The proposal raises concerns about potential single-entity control of Compound’s governance. Share this article Compound governance approved Proposal 289 on July 28th, which consists of giving 499,000 COMP tokens to a user named Humpy to create a yield vault. The amount was equivalent to over $25 million at the price from the day of approval. However, users from the community highlighted this proposal as an attack on Compound’s governance which might hold it hostage to this whale.Humpy spent the past three months buying COMP tokens…
The CEO of Indian crypto exchange Coindcx has criticized Wazirx’s approach in response to a recent $230 million cyberattack. Urging Wazirx to take responsibility, he stressed: “Making customers directly absorb the 45% losses is utter nonsense.” Wazirx is working to recover and reopen its platform, providing updates and taking legal actions, while assuring users about […] Source link
Bitcoin is down close to 3% after climbing to a local high at $69.4k. The Bitcoin dominance and liquidity charts hold clues about the next price move. Bitcoin [BTC] reached the $69k resistance zone. In an earlier report, it was highlighted that the liquidity pool at this level would likely attract prices to it before a potential bearish reversal. Over the past 24 hours of trading, BTC reached $69.4k and fell 2.7% to trade at $67.5k at press time. The metrics had been bearish in the short term earlier this week. Monday’s trading session could set up the trend for…
Key Takeaways Justin Sun expects China to adopt more competitive Bitcoin policies. The US government currently holds over $14 billion worth of Bitcoin, making it the largest national holder of Bitcoin globally. Share this article Founder of the Tron blockchain Justin Sun has called on China to reform its approach to Bitcoin policy, especially when the US has shifted toward more favorable Bitcoin policies since former President Donald Trump publicly expressed his support for Bitcoin and the crypto sector.Sun believes if China also enhances its Bitcoin policies, the resulting competition between China and the US in developing and implementing Bitcoin…
Welcome to Latam Insights, a compendium of Latin America’s most relevant crypto and economic news during the last week. In this issue: The U.S. Department of State states bitcoin helped drive tourists to El Salvador, Paraguay dismisses concerns about power fee hikes for bitcoin mining activities, and Salvadoran basic goods’ prices reach record highs. US […] Source link