Friday’s Coinbase Weekly Market Report cited macroeconomic data indicating that the U.S. economy is starting to slow down. The report cited numerous data points on manufacturing, unemployment, and domestic demand to support this claim.Some indicators include the U.S. unemployment rate rising to 4.1% in June and the Treasury yield curve inverting since mid-2022, a historically strong recession indicator.“We think the economy is very likely to have peaked in Q2 2024, which is one of the reasons why we think the Fed will start cutting rates on September 18th, and this month is too early, and there is no August meeting,”…
Author: Crypto Flexs
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A popular cryptocurrency trader and analyst believes that one of Ethereum’s (ETH) competitors is poised for a strong finish in 2024. The pseudonymous analyst Altcoin Sherpa told his 217,900 followers on social media platform X that Solana (SOL) has a healthy market structure and is expected to see a breakout among the top 10 altcoins by the end of the year. “SOL looks more like a green box to me than a red box. This is mainly because: Previous price fluctuations (ranging from $20 to $200) were significantly different in 2021 and 2024. This time around, defenses have been strengthened…
polygon(MaticAccording to Polygon’s official blog, ) has announced the launch of Miden Alpha Testnet v3, which introduces several new features aimed at improving the development and execution of decentralized applications (dApps) on its platform. Key improvements in Miden Alpha Testnet v3 The latest iteration of the Miden Alpha Testnet focuses on supporting standardized user actions and smart contracts, making it easier for developers to build and deploy dApps. Key features include sub-second order updates, transaction IDs on blocks, non-standard clients, and various refactorings to improve stability and readability. Order updates in less than 2 seconds…
BlackRock, the world’s largest asset manager, is seeking to participate in decentralized stablecoin issuer MakerDAO’s ‘Grand Prix’ contest, which aims to attract $1 billion worth of tokenized assets to the platform. First reported.According to Governance Forum Posts For Spark SubDAO, an independent unit built on MakerDAO, these efforts will focus on investing its reserves in “tokenized products similar to short-term U.S. Treasury bonds.”According to a CoinDesk report, major players in the “real-world asset” space, including BlackRock’s BUIDL, Superstate, and Ondo Finance, are looking to join the effort. Spark will reinvest up to $500 million of its reserve assets to support…
In contrast to last week’s performance, altcoins saw a notable uptick in the second week of July. While there were some surprising entries, some lived up to broader expectations. According to BeInCrypto’s observations, Notcoin (NOT), Celestia (TIA), and MANTRA (OM) are the top three gainers. This analysis explains how this happened and points out several others in the same tier. Notcoin (NOT) has broken out of the descending triangle. Notcoin (NOT), a Telegram-based project, has seen its biggest gains this week, rising 42.25% over the past seven days. Currently NOT is trading at $0.014. Between June 4 and July 5,…
Dune Catalyst, a prominent blockchain analytics company, has announced a strategic partnership with Conduit, a company specializing in blockchain infrastructure, to integrate BOB L2. According to dune.com, the move is aimed at expanding Dune’s product offerings and enabling faster adoption of more blockchain networks. The importance of partnerships The collaboration between Dune and Conduit is expected to bring significant advancements in blockchain analytics. BOB L2, a layer 2 scaling solution, will be integrated into Dune’s platform, enhancing its ability to support a wider range of blockchain networks. This integration will allow Dune to process data…
The native token of the Solana network, SOL (SOL), has not surpassed $145 since July 3. This underperformance can be partly explained by the declining investor interest in cryptocurrencies, which has caused the sector’s total market cap to drop by 5% over the nine-day period. Despite this, SOL underperformed its competitors between July 3 and July 12, falling by 7.8%, while BNB (BNB) and Ether (ETH) fell by 6.5% over the same period.Traders are now concerned that SOL’s bearish momentum will continue, even as the broader crypto markets recover some of their losses. However, Solana’s on-chain metrics and SOL’s derivatives…
ADA has surged 21.35% over the last 7 days and 2.5% over the last 24 hours. New developments such as whale activity and the Chang hard fork have changed market sentiment. After a sustained downtrend, Cardano (ADA) has surged once again. At the time of writing, ADA has surged 21.35% over the past 7 days, with trading volume up 26.85% over the past 24 hours to $324 million. According to CoinMarketCap, Cardano’s market cap has increased by 2.36% in 24 hours, reaching $14.3 billion. The question on every trader’s mind is why the sudden reversal occurred. What’s Driving the Surge…
Company • July 12, 2024 2:17 PM EDT Posted 1 minute earlier In ~ It’s Friday! In today’s Daily, the SEC has launched another investigation, this time into Hiro’s Stacks blockchain. Plus, some companies are getting away with the agency’s controversial cryptocurrency accounting disclosures, and ZAP has reached a $100 million valuation. Let’s begin. SEC Drops Investigation into Hiro’s Stack Another SEC cryptocurrency investigation has been dropped, this time into Hiro’s stack, a Bitcoin scaling layer for smart contracts, according to a regulatory filing published Friday. In a Form 1-U filing that companies use to report material changes, Hiro…
According to OpenAI, OpenAI and Los Alamos National Laboratory have announced a collaborative research partnership aimed at developing safety assessments to evaluate and measure biological capabilities and risks associated with frontier models. Partnership Goals The primary purpose of this partnership is to strengthen safety protocols for advanced AI systems, especially those that interact with biological data. The collaboration aims to create a robust methodology for assessing the potential risks and benefits of these systems, ensuring they operate within safe and ethical boundaries. Focus on the frontier model Frontier models at the cutting edge of AI…