Cryptocurrency markets have seen their biggest three-day selloff in nearly a year, with $313 billion wiped out since August 2.Cryptocurrency sell-offs surged amid a weak stock market, with the S&P 500 down as much as 4.4% over the same period.The market downturn was driven by weak jobs data, slowing growth in major technology stocks and renewed fears of a recession.Several major companies, including Microsoft and Intel, reported weaker-than-expected second-quarter results, and market leader Nvidia took a hit in September on expectations of an imminent interest rate cut, sending capital back into smaller, laggard companies. Total cryptocurrency market capitalization has decreased…
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Market • August 4, 2024 7:42 PM EDT Posted 1 minute earlier In ~ New number Ethereum Ethereum -8.36% Following the recent launch of an Ethereum-based spot ETF on the US stock market, wallet addresses hit their lowest levels this year. According to data from The Block, the seven-day moving average of new Ethereum wallets is at its lowest level since December 2023, but has remained above that value for most of 2023. The average number of active addresses and transactions on the Ethereum network has also recently declined, reaching its lowest level in nearly six months. The recent decline…
Timothy Morano 02 Aug 2024 05:06 Wormhole introduces the Native Token Transfer (NTT) framework, providing a flexible, open-source solution for transferring tokens between blockchains while ensuring security and composability. Wormhole has announced the launch of the Native Token Transfers (NTT) framework, designed to facilitate seamless and secure token transfers across multiple blockchains. This innovative open source solution aims to provide integrators with full control over token behavior on each chain, including aspects such as token standards, metadata, ownership, and custom features, while maintaining a unified supply. Key Features of NTT The NTT framework stands…
The entire cryptocurrency market suffered huge losses. Solana, Avalanche, and Dogecoin led the decline. As cryptocurrencies and traditional markets converge, investors become fearful. Cryptocurrency markets have experienced significant declines this week, with the top 10 digital assets posting losses over the past seven days. Selling was particularly severe in Solana, which led the pack of underperforming cryptocurrencies with a 22% plunge. The entire cryptocurrency ecosystem is shaken by the market crash Following Solana, there was Avalanche, which lost 19% of its value. Dogecoin also took a significant hit, falling 18.3%. Cardano also failed to break out of the bearish trend,…
Bitcoin (BTC) analysis suggests that as long positions are “thrown out,” BTC price action is expected to target $58,000 next.BTC/USD 1-hour chart. Source: TradingViewBitcoin Weekly Losses Soar to 10%According to data from Cointelegraph Markets Pro and TradingView, selling pressure persisted, sending BTC/USD to its lowest level in three weeks.A gloomy weekend has led to a gloomy weekly candle close, prompting market participants to warn that Bitcoin bulls could face even more trouble next week.“Bitcoin has entered the CME gap, but technically it can only be filled during TradFi trading hours,” Keith Alan, co-founder of trading resource Material Indicators, wrote in…
Tony Kim Aug 2, 2024 05:47 NVIDIA unveiled an AI-powered retail shopping advisor that improves customer interactions through personalized recommendations and real-time data integration. NVIDIA announced the launch of its AI-powered Retail Shopping Advisor, a comprehensive solution designed to transform customer interactions in retail. According to the NVIDIA Tech Blog, the innovative tool leverages advanced AI capabilities to provide shoppers with personalized product recommendations and real-time guidance. AI-based personalized shopping Retail Shopping Advisor is a pre-built end-to-end AI workflow that integrates large-scale language models (LLMs) and generative AI capabilities. It aims to provide contextually…
Amid continued asset price declines across the cryptocurrency industry, Bitcoin has made a modest recovery after plunging below $60,000 today, and Jump Crypto appears to be liquidating hundreds of millions of dollars worth of crypto (according to blockchain data). Addresses tagged by Arkham Intelligence as belonging to the trading firm Jump Crypto have seen around $300 million inflows since yesterday, August 3rd, with most of the inflow coming from addresses Arkham has tagged as exchange wallets. Likewise, the trading firm’s wallets have seen around $80 million outflows over the same period, with most of the inflows going to exchanges like…
Many people find Bitcoin mining an attractive way to earn passive income, but traditional mining requires a lot of electricity and expensive equipment. On the other hand, more and more people are opting for Bitcoin cloud mining. Bitcoin cloud mining platforms are very popular because they provide a streamlined way of cryptocurrency mining, allowing users to participate in cryptocurrency mining without having to purchase equipment and build the infrastructure themselves.In this guide, we will review the most popular Bitcoin cloud mining sites available today, along with their features, pros and cons. We will also discuss the costs, potential profits, and…
Lawrence Jengar 02 Aug 2024 06:15 Discover the essential resources you need to understand decentralized energy, cryptocurrencies, and the intersection with the energy grid. Decentralized energy is a new field where cryptocurrency technology intersects with the existing energy grid. This convergence aims to revolutionize the way electricity is generated, stored, and distributed. According to a16z crypto, understanding this domain requires an in-depth look into various resources that cover both the technical and market aspects of decentralized energy. Distributed Energy: An Introduction The concept of decentralized energy involves using blockchain and other distributed ledger technologies…
Genesis Global, a prominent cryptocurrency lender, has successfully completed its bankruptcy restructuring and has begun distributing approximately $4 billion in digital assets and cash to creditors. This significant move comes after months of financial turmoil and legal battles, and represents a major step forward for the company and the broader cryptocurrency industry. The keyword of this article is “Genesis Crypto Restructuring,” which reflects the central theme of the recent development. Restructuring Plan: A Lifeline for Creditors Genesis Global’s restructuring plan, which has been closely watched by the crypto community, provides different recovery ratios for different creditors. Bitcoin creditors will receive…