Despite developments that could amplify downside risks for the top cryptocurrency, put-call rates for Bitcoin options remain bullish ahead of the quarterly expiration on the last Friday of this month, according to analysts.Recent developments may intensify selling pressure on Bitcoin. Trustee Mt. Gox announced that Bitcoin and Bitcoin Cash repayments to creditors will begin in July. Moreover, German authorities seized 50,000 Bitcoin worth $2.1 billion in a piracy operation, and US spot Bitcoin ETFs experienced seven consecutive days of outflows.Despite this pressure, analysts note that derivative market indicators continue to show continued optimism for Bitcoin as it approaches weekly, monthly…
Author: Crypto Flexs
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The cryptocurrency company, which operates the largest USD-pegged stablecoin by market capitalization, said it is shifting its focus to a community-driven blockchain. According to a new press release from Tether, the company behind USDT, the company always considers “community interests” when evaluating blockchains. “Community interest plays a pivotal role as we adapt USDT to a specific blockchain. We carefully evaluate the security architecture of the network to ensure the safety, usability, and sustainability of the chosen blockchain. Our goal is to continue to support innovation across the cryptocurrency landscape while allocating resources where they can best improve security and efficiency.”…
Riot Platforms, Inc. (NASDAQ: RIOT) has requested a special meeting of Bitfarms Ltd. (NASDAQ: BITF) shareholders to reorganize the Bitfarms board of directors, according to Riot Platforms. Riot, which owns about 14.9% of Bitfarms, is the company’s largest shareholder. Proposed Board of Directors Changes The special meeting will allow Bitfarms shareholders to vote on the removal of all individuals filling the vacancies left by current Chairman and Interim CEO Nicolas Bonta, Director Andrés Finkielsztain and Co-founder Emiliano Grodzki. Riot blames Bonta and Finkielsztain for Bitfarms’ poor corporate governance and is seeking to replace them with…
Security • June 25, 2024, 3:03 a.m. EDT Posted 1 minute ago In ~ Bitcoin DeFi protocol Alex Lab said last month’s $4 million exploit was most likely linked to the North Korean-backed cyber hacking group Lazarus Group.Alex Lab said in post On Tuesday, after an extensive investigation assisted by cryptocurrency detective ZachXBT, the project identified “substantial transactional evidence linking this attack to the Lazarus Group, a notorious hacker group believed to be linked to the North Korean government.” .In the post, the team detailed two addresses, one linked to the initial exploit and one linked to the Lazarus Group,…
Analysts warn that ETH could fall to $2.4K after ETF launch. Another market observer blamed macro conditions, BTC and SOL, for the negative sentiment in ETH. expectation Ethereum (ETH) ETF prices were low and analysts had mixed views on the topic. As of press time, ETH has retreated to a low of $3.2K, down 18% from its recent high of $3.9K since partial ETF approval in late May. With just a few days left before the ETF launch, Andrew Kang, founder of cryptocurrency fund Mechanism Capital, expects ETH to fall further to $2,400. Some of his recent analysis read, ‘Before…
Astar Network and Startale announced a strategic merger marking the beginning of a comprehensive two-phase strategy known as Astar Evolution. According to astar.network, this important move aims to leverage the combined strengths of the two organizations to foster greater innovation and growth in the web3 ecosystem. journey of evolution This merger is a response to the evolving challenges and opportunities within the web3 space. Astar Network, recognized for its solid technology foundation, and Startale, known for its industry collaborations and blockchain-focused products, have both independently made notable progress. However, as markets become increasingly complex and…
Ethereum is in a downward trend, down about 18% from its March 2024 high. Confidence is high among analysts, even though bears are keeping spot rates in check and keeping the second-most valuable coin below $3,700. ETH Futures Open Interest Increases on CME Regarding X, one of them pointed out that there are clear signs that institutions are trying to push prices higher. “Big money” is likely taking advantage of the recent correction to accumulate ETH, the analyst said, noting that open interest for Ethereum futures on stock exchange CME is increasing. To reaffirm this outlook, the analyst said that…
Bitcoin price gained bearish momentum and traded below $60,000. BTC is signaling a near-term downtrend and could face a hurdle near $62,000. Bitcoin began a new decline near the $62,550 resistance level. The price is trading below $61,500 and the 100-hour simple moving average. The hourly chart of the BTC/USD pair (data feed from Kraken) shows a major bearish trendline forming at resistance $62,400. The pair may correct higher, but the upside may be limited above the $62,000 resistance zone. Bitcoin price plummets Bitcoin price failed to recover above the $63,500 level. BTC struggled above $63,000 and began another downtrend.…
Funding • June 25, 2024 1:13 AM EDT Posted 1 minute ago In ~ The U.S. spot Bitcoin exchange-traded fund (ETF) recorded total daily net outflows of $174.45 million on Monday, recording negative flows for the seventh consecutive day.Grayscale’s GBTC led the outflow with $90 million, and Fidelity’s FBTC reportedly recorded an outflow of $35 million yesterday. data In small value. Franklin Templeton’s EZBC reported a net outflow of $20.8 million, its first net outflow since May 2. Several other funds saw net outflows on Monday. VanEck’s HODL resulted in a $10 million outflow. Bitwise’s BITB hit $8 million. Ark…
Some crypto wallets offer Multisignature transactions (aka “Multisig”), which require multiple private key signatures in order to spend cryptocurrency.Because Multisig decentralizes spending authorization among multiple signers, it provides protection against having a single point of failure in the event of loss of control of a crypto wallet.Multisig wallets also allow organizations to construct complex spending rules involving multiple parties.Multisig has some potential pitfalls due to its inherently more-complicated design. As Mutisig is not a common or widely used approach, it remains incompatible between different cryptocurrencies e.g. ETH and BTCEach participant in a Multisig setup must maintain careful key and wallet…