Bitcoin surged 6.5% to a high of $58,153 on September 9. The bullish reaction followed a weekly close above $54,000, which allowed BTC to maintain its position above the 50-week exponential moving average (EMA).Meanwhile, bullish traders are betting that the impending Fed rate cut and historically favorable market conditions in the fourth quarter will lead to a sustained rally. However, there is a possibility that the price will retest $54,000 before overcoming the psychological level of $60,000. Bitcoin CME Gap Forms at $54,000Bitcoin (BTC) futures trading creates what is known as a gap when there is a difference between the…
Author: Crypto Flexs
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Polygon has upgraded MATIC to POL with major changes. AggLayer connects Web3 with ‘infinite scalability’. Blockchain network fragmentation is a serious problem. While there is a growing focus on blockchain interoperability, major challenges remain. The largest layer 1 platforms, including Ethereum, Solana, BSC, and Base, do not play well with each other. Transactions between these chains are expensive and often subject to major vulnerabilities. Polygon’s latest upgrade aims to change that. According to Polygon Labs CEO Marc Boiron, the project will focus on bringing all blockchains together with infinite scalability. Polygon Launches AggLayer to Solve Blockchain Fragmentation Cross-chain interoperability remains…
Total fees generated Solana brush +3.80% The network hit its lowest level in six months and hasn’t seen numbers since early March. In this case, we are looking at the fees generated on the SOL side to maintain consistency regardless of the price fluctuations of the SOL itself. On August 31, the Solana network generated about 3,800 SOL in daily fees. This figure has recovered slightly, but as of September 6, the daily fees remain largely flat at about 4,000 SOL. This is a significant difference from the period throughout Q2 when the network easily averaged over 10,000 SOL per…
Darius Baru September 9, 2024 04:46 Check out the curated list of books for cryptocurrency developers and entrepreneurs from a16z crypto’s 2024 Founder Summit, covering topics like management, innovation, and more. In a recent initiative to foster knowledge and innovation, a16z crypto curated an extensive list of books for the gift library at the inaugural a16z crypto Founder Summit. Designed to inspire and educate, the list spans a variety of genres and disciplines, including company building, biographies, technology trends, and creative inspiration. Company Building and Method Key titles in the company building sector include:…
The cryptocurrency sector is currently experiencing a “quiet abandonment crisis,” according to a hedge fund and digital asset expert. A popular term in 2022 is ‘quiet quitting’, where employees do the bare minimum required for their jobs and ‘stop’ thinking about doing anything else. Travis Kling, founder and chief investment officer of Ikigai Asset Management, said the phrase accurately captures the current state of the cryptocurrency landscape. “From what I’ve seen and heard, a lot of the cryptocurrency community is much less engaged than it has been in the past few years. And they are much less engaged because they…
We are excited to announce the new Williams Racing Collectibles+ collection, Cosmos. Available exclusively to Grid Pass holders, this limited edition profile picture (PFP) will qualify you for the second annual Rear Wing Takeover Contest. Cosmos Collection We have airdropped 100,000 free digital collectibles from the Williams Racing Cosmos collection to Grid Pass holders. The collection was conceptualized and brought to life by DeGods and y00ts’ talented lead artist, Candy Apple. The collection features over 130 unique traits across 10 character types, from cats to dragons to krakens, all integrated with iconic Williams Racing branding. Rear Wing Takeover Contest Cosmos…
Bitcoin (BTC) speculators net sold more than 21,000 BTC last month, the highest level on record.In a September 9 Quicktake blog post, on-chain analytics platform CryptoQuant said capital is “flowing” to long-term holders.Bitcoin’s ‘Diamond Hands’ Gets Caught in the Accumulation FrenzyThe BTC price volatility in recent weeks has caused a collapse in confidence among new holders.According to CryptoQuant, which tracks the 30-day net position change between short (STH) and long (LTH) holders, short-term holders have reduced their holdings by 21,600 BTC in the 30 days through September 8.”STH net positions have decreased significantly over the past two weeks, indicating that…
Bitcoin, which hit a recent low of $52,500 last Friday, has rebounded above $57,000, and the price volatility has led to a wave of short-term liquidations. In the past 24 hours alone, $45 million worth of Bitcoin positions were liquidated, with short positions accounting for the majority at $36 million. The broader cryptocurrency market experienced more than $126 million in liquidations over the same period. According to Coinglass data, the majority of these cryptocurrency liquidations combined (around $93 million) were short positions. Following today’s Bitcoin price rally, BRN analyst Valentin Fournier told The Block that if the digital asset were…
As of the time of writing, Helium’s record data revenue and increased token burn were driving the bullish momentum. Technical and on-chain indicators suggested room for further growth, but resistance appeared close at hand. Helium (HNT)At press time, the price was $8.16, up 0.2% over the last 24 hours due to strong data revenue and increased token burn. The increasing use of mobile and IoT services on the Helium Network has had a significant impact on token supply and price trends. This analysis uses technical and on-chain data to determine whether the current uptrend is likely to continue. What drives…
Judge Allows Some Negligence Claims in Coinbase Shareholder Lawsuit to Proceed The plaintiffs alleged that Coinbase misrepresented regulatory risks, and some of the claims were dismissed. Coinbase remains confident and committed to defending itself against the remaining claims. In a significant legal development, U.S. District Judge Brian Martinotti has approved part of Coinbase’s motion to dismiss a class action lawsuit brought by shareholders. The lawsuit, which dates back to 2022, alleges that Coinbase misled investors about potential risks posed by regulatory action by the U.S. Securities and Exchange Commission (SEC). Coinbase Accused of Making False and Misleading Statements The plaintiffs…