Bitcoin (BTC) fell 6.7% after nearly reaching $72,000 on May 21 before settling at $67,100. This decline does not necessarily indicate a bearish trend, as Bitcoin is still 8.7% below its all-time high. But investors are wondering why recent inflows into Bitcoin spot exchange-traded funds (ETFs) have not sparked more bullish sentiment.Asset distribution based on failed Mt. Gox exchange assetsData from Farside Investors shows net inflows of $1.96 billion into U.S. spot Bitcoin ETFs since May 15. This corresponds to 64 days of BTC issuance from miners. In particular, the U.S. spot Bitcoin ETF market currently has over $50 billion…
Author: Crypto Flexs
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Ripple Labs, Inc., an American technology and cryptocurrency payments company, announced plans to donate a whopping $25 million to a cryptocurrency-focused political committee. Brad Garlinghouse, Ripple’s CEO provided insight into the company’s strategic reasons behind the high contribution. Ripple donates $25 million to cryptocurrency In a May 29 post on X (formerly Twitter), Garlinghouse used clarify The company’s new support for FairShake, a federally independent cryptocurrency-focused political committee. Ripple CEO revealed that the cryptocurrency payments company has donated a generous $25 million to FairShake. Development of the cryptocurrency industry Strengthening “the development and adoption of cryptocurrency and blockchain technology.” FairShake…
DN-404 is an experimental Ethereum token standard designed to address the limitations of the previous ERC-404 by improving the efficiency, scalability, and interoperability of tokenized assets.DN-404, short for “Divisible NFT-404,” was developed by blockchain engineers and industry experts to improve the ERC-404 standard. ERC-404 aimed to facilitate the fragmentation of NFTs by integrating ERC-20 fungible tokens and ERC-721 NFTs. However, ERC-404 faced serious problems such as increased Ethereum transaction fees and limited scalability, which hindered its practical application.DN-404 leverages innovative consensus mechanisms and smart contract protocols to improve scalability within decentralized networks by improving transaction throughput and reducing costs. The…
Market • May 31, 2024 11:23 AM EDT Posted 1 minute ago In ~ bitcoin BTC -3.034% Stock markets were largely flat despite gains after another round of US inflation that met expectations.The largest digital asset by market cap is up 0.7% over the past 24 hours, trading at $68,738 at 9:26 a.m. ET, according to The Block’s pricing page. Likewise, the GM30 index representing the top 30 cryptocurrencies rose 0.55% to 144.92 over the past day.On Friday, the Bureau of Economic Analysis reported that U.S. inflation, as measured by changes in the personal consumption expenditures (PCE) price index, held…
Bitcoin currently holds over 50% of the market power in the cryptocurrency sector and is generally considered to be less volatile than other cryptocurrencies. Let’s take a look at which altcoins could perform well in June if Bitcoin surges to an all-time high of $73,000. Bitcoin is close to $68,000 ATH, but some altcoins are still undervalued Bitcoin is ending the month on a positive note after experiencing a correction to $56,000 in early May and is currently trading at $68,000, approaching its all-time high. Some altcoins failed to experience a similar recovery due to the severe correction Bitcoin suffered…
TLDR Pudgy Penguins, an Ethereum NFT project, is teaming up with Mythical Games to create a AAA mobile game. The game is scheduled for release in 2025 on Mythos Chain, a Polkadot-based gaming network. Mythical Games is known for developing successful blockchain games such as NFL Rivals and Blankos Block Party. The game utilizes the lore and humor of the Pudgy Penguins characters while providing high-quality gameplay and accessibility. Pudgy Penguins owners will receive exclusive content and have the opportunity to provide feedback during game development. Pudgy Penguins, an Ethereum NFT project known for its colorful and quirky characters, announced…
join us telegram A channel to stay up to date on breaking news coverage Despite the recent price rise of several altcoins, most tokens appear to be currently experiencing a decline. The price drop may be a move by the market to accommodate more buyers and buy out excessive leverage. The market may see further price declines in the altcoin market over the next few days before another upward trend emerges. On the other hand, a sub-sector of the cryptocurrency market that is seeing impressive inflows is low-cap altcoins. Some of these cryptocurrencies have been converted at sub-par valuations to…
Ethereum developers gather for ACDC currency #134. On May 30, 2024, Ethereum developers gathered via Zoom for All Core Developers Consensus (ACDC) call #134. These bi-weekly meetings serve as a collaborative platform for developers to discuss and coordinate changes to Ethereum’s consensus layer (CL), also known as the beacon chain. galaxy digital. The session was chaired by Ethereum Foundation (EF) researcher Alex Stokes, who led discussions on various upgrades, including Pectra Devnet 0 and potential changes to the scope of Pectra upgrades. Devnet 0 Summary The developers have revisited the release of Pectra on Devnet…
Data shows that investors in the Ethereum derivatives market have recently been very highly leveraged, which can lead to volatility in the asset. Recently, Ethereum’s estimated leverage ratio has reached extreme levels. As pointed out by the analyst in the CryptoQuant Quicktake post, the ETH expected leverage ratio has recently risen. “Expected Leverage Ratio” (ELR) refers to an indicator that tracks the ratio between Ethereum open interest and exchange reserves. The former, Open Interest, is a measure of the total amount of ETH-related derivatives positions currently open on all centralized exchanges. The second indicator, Exchange Reserve, naturally tells us the…
As demand for personalized learning grows, NVIDIA launched Gipi, an advanced AI chatbot designed to enhance user interaction and educational experiences. According to the NVIDIA Technology Blog, more than 1.2 billion people are actively engaged in learning a new language, and platforms like Duolingo host more than 500 million learners. However, a significant portion of the world’s population suffers from feelings of disconnection and unhappiness, often exacerbated by social media. The Rise of AI Chatbots: Transforming Education and Interaction AI chatbots are playing a pivotal role in solving these problems by providing personalized wellness check-ins,…