According to on-chain data from Glassnode, Bitcoin (BTC) is experiencing its “most severe drop” in 24 months, with short-term holders (STH) suffering unrealized losses. According to data from Cointelegraph Markets Pro and TradingView, in the recent downtrend, Bitcoin price fell more than 16.5% from its July 1 high of $63,801 to hit a swing low of $63,499 on July 5, which Glassnode describes as “the largest correction since late 2022.””Between May and July, the market experienced its deepest cyclical correction, recording a decline of more than -26% from ATH.”Bitcoin Price Performance. Source: GlassnodeDespite this slowdown, Glassnode’s The Week On-chain report…
Author: Crypto Flexs
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Water Cryptocurrency Tokens Pumped After Soccer Star’s ‘Endorsement’ Some people are skeptical about Mimecoin despite its impressive rally over the past few days. that much Solana (SUN) $WATER cryptocurrency-based Mimecoin has received huge promotional support from two football legends, Lionel Messi and Ronaldo Gaucho. Messi promoted a water-themed meme coin on his Instagram story on July 8. Market expert Alex Kruger responded to Messi’s promotion, calling it ‘Wild.’ ‘Messi is selling Solana Memecoin right now. Through Instagram stories. This is crazy.’ On July 9th, another soccer star, Ronaldinho Gaucho, joined Messi in promoting $WATER on his Instagram story. Ronaldinho’s promotion…
BitMEX, a cryptocurrency exchange and derivatives trading platform, pleaded guilty Wednesday to violating the Bank Secrecy Act and willfully failing to establish, implement, and maintain an adequate anti-money laundering program, according to a statement from the U.S. Attorney for the Southern District of New York. “As BitMEX’s founders and longtime employees admitted in federal court in 2022, from 2015 through 2020, the company that was one of the world’s leading cryptocurrency derivatives platforms operated in the United States without a meaningful anti-money laundering (AML) program as required by federal law,” said Damien Williams, U.S. Attorney for the Southern District of…
Bitwise CCO Catherine Dowling said a spot Ethereum ETF is “close to being finalized,” and noted that the SEC is “very welcoming” discussions about other products.On July 9, Dowling told Bloomberg that the SEC and ETF issuers were seeing fewer issues addressed in their respective S-1 filings and that launches were imminent.Dowling echoed SEC Chairman Gary Gensler’s assertion that the agency will fully approve issuers’ registration statements in the summer, but outlined an open time frame. She said:”As you know, everyone has a different definition of summer. It’s been a long, hot summer while publishers wait…”Dowling said Bitwise plans to…
According to Chiliz, Alchemy Pay, a global leader in fiat-crypto payment gateways, has announced expanded support for the Chiliz (CHZ) Chain. This strategic move integrates Alchemy Pay’s services into the Chiliz ecosystem, allowing users to interact seamlessly with a variety of fan tokens. Integrated Details Current integrations include Chiliz’ native token CHZ and several fan tokens including ACM (AC Milan), ARG (Argentina National Team), and ATM (Atlético Madrid). Future plans include adding more tokens such as JUV (Juventus) and ASR (AS Roma). This collaboration highlights the growing importance of integrating fiat and cryptocurrency payment solutions…
AVAX price is gaining speed above the $26.50 resistance level. If there is a significant move above the $27.75 resistance level, Avalanche can go higher. AVAX price is rising from the $24.70 support zone against the US Dollar. The price is trading above $26.50 and the 100 hourly simple moving average. There was a break of a major downtrend line centered around the resistance level of $26.50 on the hourly chart of the AVAX/USD currency pair (data provided by Kraken). The pair can continue to rise if it remains above the support levels of $26.00 and $25.50. Aiming for a…
The bears tried to resume the Bitcoin (BTC) downtrend on July 8, but the bulls bought the dip. According to Farside Investors data, spot Bitcoin ETFs (exchange-traded funds) listed in the United States have seen inflows of over $650 million since July 5, indicating solid demand from low levels.However, the selling pressure is unlikely to end quickly. According to Arkham Intelligence data, the German government wallet appears to be preparing to sell 6,000 more bitcoins. Also, the market will be watching closely to see how much the selloff will be after creditors of the closed cryptocurrency exchange Mt. Gox are…
The Ether (ETH) price fell 18% between July 1 and July 8 to $2,826, but has since recovered somewhat. Investors were understandably disappointed, especially since $313 million in leveraged long positions were liquidated during this period. The current price of $3,100 is still below the previous support level of $3,400, but Ether traders are gradually regaining confidence, as evidenced by on-chain and derivatives indicators.The supply of Ether on exchanges continues to decline.Even if it takes longer than expected for a spot Ethereum exchange-traded fund (ETF) to launch in the United States, strong fundamentals suggest that prices could soon rebound. U.S.…
Catalyst enables direct atomic swaps between different blockchains such as Ethereum, Cosmos, Optimism, and Eclipse, eliminating the need for bridged assets. Catalyst’s incentive message escrow protocol acts as an abstraction layer between arbitrary message bridges and the applications that use them. It allows applications to send messages between chains in a trustless manner. The protocol is designed to be chain agnostic, so it can be used on any blockchain that is compatible with the EVM. Catalyst engaged Ackee Blockchain to conduct a security review of the changes to the Generalised Incentives Protocol. The smart contracts were previously audited for a…
Consensys founder Joe Lubin said Wednesday during a speech at the Ethereum Community Conference in Brussels that U.S. regulators have been “driving quietly,” adding that certain senators and banking lobbies have “opportunistically” stepped in to guide the SEC’s crypto policy. “They worked with Chairman Gensler to say, ‘Hey, let’s take a 100-year-old law and extend its jurisdiction and control this new technology so that it can essentially be grafted onto our current infrastructure,’” Rubin said. “The big banks and big financial institutions can continue to operate and probably create a dumb version of decentralization.”Rubin also said he and others have…