Bitcoin (BTC) has fallen back to the middle of its range from $55,724 to $73,777 after bulls failed to hold prices above the psychological resistance level of $70,000. For bulls waiting for a range breakout, August’s historical performance does not provide much confidence. According to Coinglass data, August has averaged a modest 2.24% gain since 2013.The weakness in global stock markets is casting a shadow of uncertainty over risk assets. The Nikkei, Japan’s stock market, fell 6% on August 1, its worst day since the “Black Monday” crash in 1987. If the selloff extends to crypto markets, Bitcoin’s $60,000 support…
Author: Crypto Flexs
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Genesis transferred $2.12 billion worth of BTC and $838 million worth of ETH as part of its bankruptcy restructuring. Genesis will return $3 billion to creditors, covering 77% of customer claims. Digital Currency Group will not receive any payments from Genesis’ bankruptcy plan. Over the past three days, Genesis Trading has moved approximately 32,256 BTC worth approximately $2.12 billion and 256,775 ETH worth approximately $838 million to various addresses. These significant asset transfers are seen as part of the company’s efforts to manage creditor repayments under its ongoing financial restructuring plan. Genesis Trading transferred 32,256. $Bitcoin($2.12B) and 256,775 $Ethereum(US$838 million)…
Louisa Crawford 2 Aug 2024 15:21 NVIDIA’s Grace CPU family aims to meet the growing demands of data processing with high efficiency by leveraging Arm Neoverse V2 cores and a new architecture. According to the NVIDIA Technical Blog, the exponential growth in data processing demand is expected to reach 175 zettabytes by 2025. This surge stands in stark contrast to the slowing pace of CPU performance improvements, underscoring the need for more efficient computing solutions. Solving Efficiency with NVIDIA Grace CPU NVIDIA’s Grace CPU family is designed to solve these challenges. The first CPU…
Liquidations have surged in the cryptocurrency markets over the past 24 hours as the price of Bitcoin falls and capital flows out of risky assets.A total of 81,838 traders were liquidated over the last 24 hours, bringing the total liquidation volume across centralized exchanges to $272 million. data From Coinglass. Bitcoin Bitcoin -0.81% It was the leading cryptocurrency in liquidations, with around $78 million liquidated in the last 24 hours. Of these Bitcoin liquidations, around $44 million were long positions.The cryptocurrency market’s decline was reflected in a stock market crash on Friday. The S&P 500 was headed for its worst…
Coinbase’s various subsidiaries have added three popular tokens to their services. The cat in the dog is entering a serious market correction after a three-digit rally. Coinbase’s perpetual assets allow investors to leverage without owning the assets. Coinbase, the largest cryptocurrency exchange in the U.S., has decided to expand its futures offerings to include a wider range of meme currencies. The announcement begins with a question. “Feeling like a cat in a dog world?”Coinbase mentioned MEW, an upcoming cat-themed token that has successfully entered the top 100 global market caps in a short period of time. Feeling like a cat…
Iris Coleman 2 Aug 2024 15:43 Ripple (XRP)’s Q2 2024 XRP Market Report details market volatility, regulatory updates, and key industry trends. According to ripple.com, Ripple (XRP) has released its Q2 2024 XRP Market Report, providing a comprehensive overview of market trends, regulatory wins, and important industry developments.Cryptocurrency Market SummaryIn Q2 2024, there was a continued focus on institutional adoption, highlighted by the approval of an ETH spot ETF in the US. This milestone, following the success of the Bitcoin spot ETF, is seen as a positive step towards a more mature market. Analysts…
The company reported better-than-expected second-quarter results on Thursday, but its main source of revenue, trading fee revenue, fell sharply.
The price of XRP (XRP) has erased all the gains made over the past two weeks. The decline is due to several factors, including the delay in the Ripple vs. SEC lawsuit and reduced expectations of a September rate cut.XRP/USD daily price chart. Source: TradingViewSEC postpones closed-door meetingA closed-door meeting between U.S. Securities and Exchange Commission (SEC) commissioners on August 1st caught the attention of cryptocurrency traders, with many speculating that the commissioners would discuss Ripple and solutions during the meeting. But the meeting was unexpectedly canceled, with Ripple and the SEC remaining silent and not providing a specific explanation…
Cryptocurrency trader and analyst is expressing an overall bullish outlook for Dogecoin (DOGE) as Mimecoin consolidates. Altcoin Sherpa, an anonymous analyst, told his 11,300 YouTube subscribers that DOGE could eventually explode and hit as high as $0.50. However, the analyst warns that DOGE’s relatively large market cap could limit its upside potential. He also says DOGE could be underperforming other memecoins, including Pepe (PEPE), Bonk (BONK), and dogwifhat (WIF). “I think DOGE will eventually test these higher levels. I think $0.35 to $0.40 is definitely possible. Even as high as $0.50 is possible. But DOGE might have the problem that…
A wallet linked to Genesis Trading, a cryptocurrency lending institution owned by conglomerate Digital Currency Group. According to blockchain data provider Arkham Research, it moved 16,000 bitcoins (worth $1.1 billion) and 166,000 ethers (worth $521 million) on Friday, which would seem to indicate that Genesis Trading will begin repaying its creditors after the 2022 implosion.. This comes just over a year after Genesis agreed to repay $1.5 billion to clients of cryptocurrency exchange Gemini. Gemini used Genesis to earn returns on crypto deposits made by Earn clients, which Genesis then lent to the now-bankrupt Three Arrows Capital hedge fund. Gemini…