Just a few days ago, only six of the top 50 altcoins were outperforming Bitcoin (BTC). But today, things have changed, and new speculation about an altcoin season is pouring in. What’s interesting about this development is that not only are there three new cryptocurrencies added, but all of these new entrants are in the top 10 by market cap. These include Solana (SOL), Ethereum (ETH), and Ripple (XRP). Rotating to altcoins is riskier but more rewarding? It is important to note that altcoin season begins when at least 75% of non-Bitcoin cryptocurrencies outperform BTC. However, only 9 have done…
Author: Crypto Flexs
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Around 40% of Ethereum supply is locked as the market anticipates final approval for an ETH spot-based exchange-traded fund (ETF).According to Dune Analytics data, a breakdown of this “locked supply” shows that there are over 33 million ETH staked on the network, or roughly 28% of Ethereum’s total supply.Proof-of-stake networks like Ethereum require users to “lock” digital assets to support security and operations, and are rewarded for doing so.Ethereum Locked Supply (Source: CoinMetrics)Additionally, 12% of the supply is locked in smart contracts and bridges, which have seen strong adoption recently. For example, AJ Warner, Chief Strategy Officer at Offchain Labs,…
According to the latest report from CoinShares, global cryptocurrency investment products from asset managers such as Ark Invest, Bitwise, BlackRock, Fidelity, Grayscale, ProShares, and 21Shares saw a combined net inflow of $1.44 billion last week.This figure is one of the largest weekly net inflows ever recorded, and brings the year-to-date figure to a record $17.8 billion, as digital asset investment products see additional buying amid price weakness, CoinShares research director James Butterfill wrote. This far surpasses the $10.6 billion net inflows seen during the bull market in 2021. Weekly cryptocurrency asset flows. Image: CoinShares.However, Butterfill noted that cryptocurrency exchange-traded products…
Iris Coleman July 15, 2024 10:20 The Franklin Templeton Digital Assets team, along with Escape Velocity and Harvard Business School, explores the impact of decentralization on cloud services. According to Franklin Templeton, the Franklin Templeton Digital Assets team is working with Escape Velocity and Harvard Business School to explore the potential of decentralization as a transformative force in cloud computing. Decentralized exploration The joint research initiative aims to understand how decentralized technologies can disrupt traditional cloud services, which are typically centralized and controlled by a few major players. The research explores the benefits and…
TLDR The Bitcoin price fell to near $53,500 in early July before rebounding to around $62,500-$63,000. The recent price surge comes after an assassination attempt on former President Donald Trump, who expressed support for cryptocurrencies. Analysts suggest that the worst of the recent price decline may be over, with factors such as the German BTC sell-off and Mt. Gox redemption largely priced in. Positive macroeconomic factors, including potential interest rate cuts and low inflation, could support Bitcoin prices going forward. While some analysts see further price gains ahead, others warn that the uptrend could be gradual. Bitcoin’s price has rebounded…
The two major memecoins had little to distinguish them on price charts or indicators. There was evidence of short-term momentum shifts and slow accumulation for one of them. Both PEPE and SHIBA have been nearing their 10-day highs. The SHIBA team has been in the news recently, posting about a marketplace that will revolutionize Web3 commerce, but no firm timeline has been released. With PEPE recently being rejected at a key resistance level, there is little for bulls to cheer about. Which of the two Mimecoins has a more bullish outlook for July? Future scope and obstacles Source: PEPE/USDT on…
Bitcoin (BTC) broke above $60,000 in the third week of July, causing an emotional reversal with new BTC bullish sentiment. Can this trend continue?The world’s largest cryptocurrency is once again getting traders excited after the weekend’s geopolitical events, with gains now reaching 10% since July 12.What could have been a short-lived reaction to the weekly candle close has instead formed the basis for a BTC price rally. But the key question for market participants now is where the support actually lies.This move has been anticipated for a long time, with traders and analysts alike watching as BTC/USD plunged to a…
A phishing scammer stole $24 million in a phishing attack last September and then suddenly returned nearly $9.3 million to his victims.The scammer, first discovered by Scam Sniffer on July 13, used the Dai (DAI) stablecoin to return funds in two transactions last week.According to Etherscan data, the first transfer returned $5.23 million on July 8, followed by another $4.04 million on July 13 at 12:06 PM (UTC).Transfer from the scammer to the victim’s wallet address. Source: EtherscanThis comes 10 months after victims lost 9,579 Lido Staked Ether (stETH) and 4,850 Rocket Pool (rETH) tokens in a $24.2 million phishing…
Pendle, the native token of decentralized platform Pendle Finance, surged 14% today, the largest gainer among the top 100 cryptocurrencies by market cap. At the time of writing, PENDLE was trading at $4.38 per crypto.news price, up 13.5% over the past 24 hours. The cryptocurrency asset also saw its daily volume double from the previous day, standing at $77.6 million. PENDLE 24-Hour Price Chart | Source: crypto.news In addition, PENDLE’s market cap has also jumped to $683 million, ranking it 96th among the top 100 cryptocurrencies. Despite the recent price increase, the digital asset is still down 42% from its…
Lawrence Jengar 15 July 2024 07:05 According to a Salus Security report, BNB Chain’s security measures are expected to reduce hacking losses by 87% year-on-year in Q2 2024. According to Salus Security’s Q2 2024 BNB Chain Security Report, BNB Chain’s security environment has made significant progress in Q2 2024. BNB Chain’s total financial loss due to security breaches decreased by 87% year-over-year (YoY), reaching $9.2 million. Some numbers for Q2 2024 BNB Chain reported 35 security incidents in Q2 2024, dramatically reducing its financial losses. The losses were reduced to $9.2 million, significantly lower…