Illustration by Mitchell Preffer for Decrypt.It’s been a little over a week since the launch of the spot Bitcoin exchange-traded fund (ETF), and the cryptocurrency market is struggling.Over the past week, the value of Bitcoin (BTC) has fallen more than 10%, according to CoinGecko. The price of the largest digital coin by market capitalization is currently $41,002.Last week it closed at $49,000.The long-awaited Bitcoin ETF has been a huge success, with BlackRock’s iShares ETF raising more than $1 billion in assets under management.So why are prices falling? This probably has to do with investors cashing in on the profits they…
Author: Crypto Flexs
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Solana ($SOL) Mobile, a key player in the rapidly emerging web3 phone market, recently announced its second smartphone, ‘Chapter 2’. This launch is an important step in making web3 technology more accessible to more people. Surpassing Saga’s Success Solana Mobile’s first web3 phone, the Saga, initially struggled to gain traction in the market. Launched in mid-2023 with a price of $1,000, sales were poor until the strategic price was lowered to $599. This change, combined with a unique cryptocurrency rewards program, sparked a sudden surge in demand. Notable promotions included the dog-themed memecoin BONK, giving away 30 million BONK tokens…
The U.S. Securities and Exchange Commission (SEC) has postponed its decision on Fidelity’s proposed spot Ethereum exchange-traded fund (ETF) to March 5. The delay gives regulators more time to consider issues raised by ETFs when deciding whether to approve them. This expected delay pushes the timeline for a final decision back to the end of May, when the SEC faces a deadline to approve or reject a competing spot Ethereum ETF proposal submitted by VanEck. TLDR The SEC postponed its decision on Fidelity’s proposed spot Ethereum ETF until March 5 to consider the issues raised. The delay was expected, with…
join us telegram A channel to stay up to date on breaking news coverage While investors wait for strength, about 10% of cryptocurrencies display green candles. UMA is Today’s Top Cryptocurrency Earners, recorded a whopping 112.55% increase in the last 24 hours. Conversely, Conflux Network stands out as the biggest loser today, experiencing a loss of 19.40% over the same period. Biggest Cryptocurrency Earners Today – Top List Moreover, Dogwifhat has recorded an incredible 7,489.77% gain over the past year. Meanwhile, ApeCoin is at the opposite end of the spectrum, recording a significant loss of 70.69% over the past year.…
Layer 1 network Solana hit a significant milestone in terms of stablecoin transfer volume this month, according to the latest on-chain data. Solana overtakes Tron in stablecoin transfer volume Solana’s stablecoin transfer volume already surpassed $300 billion in January, according to data from blockchain analytics platform Artemis. This is the highest transaction volume ever recorded by a stablecoin on a layer-1 blockchain in a single month. To put these numbers into context, the Solana network recorded $297 billion in stablecoin trading volume throughout December. Meanwhile, the blockchain’s stablecoin transfer volume was approximately $11.56 billion in January 2023, reflecting growth of…
But Bitcoin offers a truly decentralized option, bringing us closer to the freedom of non-domination. Bitcoin’s decentralized nature prevents the centralized structure of stablecoins or the type of domination that occurs in traditional finance. Each participant can influence the decisions of the network, reducing the risk of arbitrary power and fostering a more republican view of freedom.
U.S. Senator Mike Rounds’ remarks at the recent World Economic Forum in Davos highlighted an important aspect of the ongoing technology race between the United States and China. As the United States continues to impose strict controls on exports of advanced AI chips to China, it highlights the tenuous balance of power in global AI hegemony. Senator Rounds said the United States recognizes that its advantage over China in AI technology is minimal and can be measured in months, not years. This statement highlights the rapid advancement of AI technology and the importance of maintaining a competitive advantage in this…
Almost all media attention in late 2023 and early this year was about Bitcoin (BTC). Of course, this is a natural phenomenon as it is the No. 1 token in the cryptocurrency market and there are two large-scale events just around the corner this year, including ETF approval and the halving event. However, its main competitor, Ethereum (ETH), looks set to grab the headlines soon. After the SEC’s approval of the Bitcoin ETF, BTC price actually fell. Attention is starting to turn to Ethereum, where many positive developments are taking place. It could be one of the best performing altcoins…
CFTC charges Debiex with $2.3 million misappropriationThe Commodity Futures Trading Commission (CFTC) has raised serious suspicions about cryptocurrency exchange Debiex. Debiex, which has been accused of being a “fake digital asset platform,” is facing civil charges for allegedly defrauding customers of more than $2.3 million through romantic fraud.Romance Fraud: A Calculated Strategy to Deceive InvestorsKey Debiex employees reportedly had romantic or friendly relationships with potential customers, according to a January 19 statement from the CFTC. By building trust through these interactions, we convince customers to open and fund trading accounts on the exchange. Contrary to its promise to invest funds…
The unknown altcoin surged nearly 210% between Thursday and Friday this week after the project teased the launch of a new cryptocurrency solution. UMA is An optimistic oracle and dispute arbitration system that aims to act as a “decentralized truth machine.” The 156th-largest cryptocurrency asset by market cap traded at around $2.01 on Thursday before surging to a high of $6.22 at one point on Friday, marking a remarkable gain of 209.45%. The token has since been partially reverted and is trading at $4.51 at the time of this writing. Massive gains for the asset have been realized as UMA…