The non-fungible token market continues to navigate rough waters in 2024, with trading volume reaching $300 million in June, a far cry from the $867 million high in January. The decline reflects a broader market trend, with NFTs struggling as one of the most speculative assets in the crypto ecosystem. Despite the overall economic downturn, the competition for market dominance is heating up again, providing interesting insights into changing trader preferences and platform strategies.Blur has been the undisputed volume leader for a long time, and this year it has consistently held a market share of 60% to 80%. The success…
Author: Crypto Flexs
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Alvin Lang 16 July 2024 17:07 In a recent interview, TaxBit CEO Lindsay Agalas delves into cryptocurrency compliance, IRS regulations, and the future of digital asset management. According to Chainalysis, TaxBit CEO Lindsey Argalas recently shared insights on cryptocurrency compliance, the impact of blockchain, and digital asset management innovation on episode 119 of the Public Key podcast. Argalas emphasized the importance of regulatory clarity from the IRS and MiCA, and highlighted the growing intersection of tax, accounting, and blockchain technology. The Challenge of Cryptographic Compliance Argalas discussed the complexities that traditional financial institutions (FIs)…
Ethereum (ETH), the world’s second-largest cryptocurrency by market cap, is currently showing signs of a potential uptrend as major indicators turn bullish. This positive momentum market Buying pressure is increasing optimism about the short-term prospects of digital assets. In this article, as ETH continues to spur significant upside, we take a closer look at the key indicators that indicate this upside potential and discuss what this could mean for Ethereum’s price path. Technical indicators: Key signals pointing to an uptrend Currently showing bullish momentum on the 4-hour chart, the ETH price is attempting to move towards the 100-day simple moving…
An analyst who predicted a Bitcoin (BTC) bull market peak in 2021 thinks altcoins have found their bottom. Anonymous trader Pentoshi shared a chart with his 801,500 followers on social media platform X showing the total cryptocurrency market cap, excluding the top 10 digital assets. This chart is often used to measure the strength of altcoins. “For altcoins, I think that’s what’s going to happen. But I think that’s going to be the normal course of the market, and I think altcoins are going to get bids for at least a few weeks. And as usual, they don’t have charts/tickers…
Cryptocurrency exchange Coinbase may no longer need to mention the word “cryptocurrency” in the future, according to Avichal Garg, co-founder of venture capital firm Electric Capital. Garg predicts that “probably in the next five years” Coinbase “will not really mention cryptocurrencies” as part of its advertising, because people will only know that “you can buy stuff on Coinbase,” similar to how they see Robinhood, a trading platform. He thinks it will be known as just another financial product that investors can buy and profit from. “The reason I think that is because there’s an adage that people overestimate what they…
Bitcoin price has risen by more than 10% and has broken through the $64,000 resistance level. BTC is showing positive signs and may attempt to move above the $65,000 level. Bitcoin gained bullish momentum above the $63,500 resistance level. The price is trading above $63,500 and the 100-hour simple moving average. According to data provided by Kraken, a major bullish trend line is forming around support at $62,200 on the hourly chart of BTC/USD. The pair is likely to continue its upward movement if it breaks the resistance level of $65,000. Bitcoin price rises 10% Bitcoin price started a big…
Polymarket, which is quickly emerging as the most popular blockchain-based betting marketplace, has hired renowned statistician and election commentator Nate Silver from Axios as an advisor. Reported On Tuesday. Prediction markets, once relegated to the realm of academic theory, are now a way to pool knowledge among a crowd of users. In theory, and increasingly in practice, these users are incentivized to shed their biases by investing money in voting. This is called “skin in the game.”Founded in 2020, Polymarket has become one of the most popular sites for betting on the US elections. The poll asks who will win…
ETH short-term holders profit. ETH breaks through resistance line for the first time in weeks. Ethereum (ETH) garnered attention as one of the most notable cryptocurrencies of the past week, with its market cap increasing by more than 14%. Additionally, the 7-day Market Value to Realized Value (MVRV) ratio indicates that buyers who entered the market during this period are holding their investments profitably. Ethereum Shows Attractive Trend According to data analysis from Santiment, investors who bought Ethereum during the recent crash are now seeing significant gains. According to the data, ETH and several other assets have seen significant increases…
Wang Long Chai 16 July 2024 16:20 The Bitcoin market is under significant selling pressure due to the German government and Mt. Gox distribution, which is affecting the price and investor sentiment. The Bitcoin (BTC) market has recently experienced a significant selloff, absorbing over 48,000 BTC procured by the German government. According to Glassnode Insights, this occurred as market participants prepared for a potential distribution from the now-defunct Mt. Gox exchange.Large Enterprises and Market DynamicsLarge institutions currently hold around 4.9 million BTC, or 25% of the circulating supply. Centralized exchanges and ETF custodians are…
Bitcoin (BTC) was looking to retest its range high at the Wall Street open on July 16 as the market ignored the Mt. Gox BTC move.BTC/USD 1-hour chart. Source: TradingViewBitcoin Hangs in ‘Classic Distrust Rally’According to data from Cointelegraph Markets Pro and TradingView, BTC price has recovered its strength and started a new journey towards $64,000.Although still down around 1% overall since the daily open, BTC/USD has shown resilience despite billions of dollars worth of coins being withdrawn from cold wallets linked to the shuttered exchange Mt. Gox.While some have dismissed the market’s initial knee-jerk reaction to the trade, some…