Investors’ risk appetite tends to increase with lower cost of capital and higher liquidity, creating a favorable scenario for high-growth assets. As a result, Bitcoin (BTC) and other cryptocurrencies often benefit from these situations because demand typically increases as more currency is in circulation. But since inflation in the US appears to be under control, why isn’t the cryptocurrency market reacting positively?Interest rate cuts affect corporate performance and the real estate marketThe US Federal Reserve (Fed) closely monitors the employment market, inflation, and the value of the USD currency and adjusts its policy accordingly. When the inflation trend approaches the…
Author: Crypto Flexs
Read More
A trader held PEPE for 7 months before pouring his savings into Kraken. The sale generated $1.35 million in proceeds, suggesting a bullish signal locally. A strong foundation in derivatives cushions the PEPE market downturn. Pepe (PEPE), one of the most successful meme currencies, has caught the attention of cryptocurrency analysis platforms due to its unusually large deposits. According to on-chain data from the Debank cryptocurrency portfolio tracker, Ethereum (ETH) whales sent 118.5 billion PEPE coins to Kraken on June 27, 2024. With Right Timing, PEPE Trader Becomes a Millionaire After holding the PEPE for seven months, Whale deposited the…
Company • June 28, 2024 1:08 PM EDT Posted 1 minute ago In ~ Updated: June 28, 2024 1:12 PM EDT The U.S. Securities and Exchange Commission has sued Consensys, alleging that the company failed to register as a broker with the MetaMask swap service.“Consensys also violated the law through its MetaMask staking service,” the SEC said in a complaint filed Friday in the U.S. District Court for the Eastern District of New York.Consensys engaged in the offering and sale of unregistered securities in the form of a crypto asset staking program and acted as an unregistered broker through its…
According to the Hong Kong Monetary Authority (HKMA), total deposits in Hong Kong’s licensed institutions increased by 1.1% in May 2024. According to data released on June 28, Hong Kong dollar deposits increased by 0.3% and foreign currency deposits increased by 1.8%. Deposit growth rate and Yuan trend As of the end of May, total deposits increased by 3.2% compared to the previous year, and Hong Kong dollar deposits increased by 0.9%. In particular, Hong Kong yuan deposits surged 4.2%, reaching 1.134 trillion yuan. This increase is primarily due to corporate funding flows. However, the…
The cryptocurrency market is known for its dynamic and unpredictable nature, with predictions and speculations running rampant. Analysts are divided. Some predict continued volatility for major cryptocurrencies like Bitcoin, while others argue that the introduction of regulatory frameworks and increased institutional investment could bring greater stability. While the accuracy of these predictions remains uncertain, one thing is clear: the cryptocurrency sector continues to captivate investors and enthusiasts alike.Mainstream Adoption and Financial Powerhouse:As we navigate the evolving cryptocurrency landscape, it becomes clear that digital currencies have firmly established themselves in the financial ecosystem. This is evidenced by the involvement of traditional…
Bitcoin (BTC) shrugged off U.S. macro data on June 28 amid lingering doubts about the strength of $60,000 support.BTC/USD 1-hour chart. Source: TradingViewBitcoin is in recession as PCE hits 3-year lowData from Cointelegraph Markets Pro and TradingView showed BTC prices hovering in the sub-$61,000 range after Wall Street opened.The latest results for the Personal Consumption Expenditures (PCE) index, known as the Federal Reserve’s preferred measure of inflation, were broadly in line with expectations.Core PCE was 2.6% compared to the same period last year, the lowest figure since March 2021.“The PCE data became cooler, as expected. “Personal incomes are slightly higher…
Nostra founder David Garai stepped down as CEO of the Starknet-based DeFi project less than two weeks after the NSTR token airdrop.“I have resigned as CEO of Nostra,” Garai posted on X. “I will be back after a brief hiatus for the first time in four years. Stay tuned for my future plans.” The Nostra app is backed by developer Nostra Labs and allows users to lend, borrow, exchange, and connect cryptocurrencies. Garai claimed that over the past two and a half years, Nostra has become the largest and most profitable protocol on Starknet, with annual revenue of $2.5 million…
Real Vision analyst Jamie Coutts believes high-quality altcoins could be primed for a price surge as global liquidity increases. Coutts told his 18,600 followers on social media platform X that the market was on the verge of a bear market, global liquidity was about to increase, and the risk/reward situation for high-quality altcoins was looking “more and more favorable.” “The equal-weight to market-cap-weight ratio of the top 200 stocks is at extreme bearish levels. It is currently -2.8 standard deviations. This is a severe decline that has only occurred three times before. • 2021: A bull market period, evidenced by…
Bitfarms Ltd. (Nasdaq/TSX: BITF), a global Bitcoin (BTC) mining company, announced the appointment of Fanny Philip to its board of directors. The decision, which was unanimously approved by the board, expands the board to five directors, four of whom are independent, according to GlobeNewswire. Fanny Philip’s Expertise Fanny Philip is a seasoned expert in blockchain technology and finance with a strong background in auditing, public company reporting, and mergers and acquisitions. She is the founder of MTI Conseils Inc., an accounting firm that provides outsourced accounting and CFO services. Her previous roles include CFO and…
Traditional financial institutions are looking for new ways to provide investors with access to digital assets through exchange-traded funds (ETFs).On June 27, Bloomberg Intelligence ETF analyst Henry Jim reported on three ETF products that provide investors with access to Bitcoin, Gold, Ethereum, and Micro Strategies.Stacked Bitcoin and Gold ETFsTidal Investments and Quantify Chaos Advisors have jointly filed a prospectus for a new ETF that provides indirect exposure to bitcoin and gold.According to filingThis ETF uses leveraged investing to expose investors to two assets without having to buy them directly. Invests in Bitcoin futures, gold futures, cash, reverse purchase contracts, and…