Jorg Hiller 09 Sep 2024 14:35 Bitfinex Alpha shows correlation between Bitcoin and stocks, while altcoins outperform during market downturns According to a recent report from Bitfinex Alpha, Bitcoin (BTC) continues to show a strong correlation with traditional stock markets, particularly the S&P 500, while altcoins are showing remarkable resilience. Bitcoin’s Downtrend Last week, Bitcoin saw a significant decline, dropping 10.7% in the first week of September. This continued the downward trend observed since late August, with the price falling below the critical level of $56,711 that had previously triggered a rapid recovery. Selling…
Author: Crypto Flexs
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The United States Securities and Exchange Commission (SEC) has decided to discontinue its investigation into Ethereum (ETH) as a potential security, a decision that has surprised and intrigued the cryptocurrency industry. The decision, announced on June 19, 2024, comes amidst changing regulatory dynamics and external pressures that have affected the SEC’s stance on digital assets.Reasons for SEC’s DecisionAccording to Consensys attorney Laura Bruckover, the SEC’s decision to drop its investigation was not voluntary, but rather a reaction to recent developments: the approval of an exchange-traded fund (ETF) based on spot Ether may have influenced the SEC to reconsider its classification…
Cardano (ADA) price rose 9% over the weekend after the Artificial Superintelligence Alliance (ASI) announced that its token, FET, had been deployed on the Cardano blockchain. This has led to renewed interest in the ecosystem, with other on-chain ADA metrics also seeing significant activity. SingularityNET, Fetch.ai, Ocenal Protocol’s ‘ASI’ Token Launches on CardanoOn September 7, the ASI Alliance announced that it would deploy its own token, FET, on the Cardano blockchain, highlighting the security, speed, and low transaction fees of the ADA network as the main reasons for doing so.FET, which will be rebranded to the ASI ticker, is now…
Cardano (ADA) price rose 9% over the weekend after the Artificial Superintelligence Alliance (ASI) announced that its token, FET, had been deployed on the Cardano blockchain. This has led to renewed interest in the ecosystem, with other on-chain ADA metrics also seeing significant activity. SingularityNET, Fetch.ai, Ocenal Protocol’s ‘ASI’ Token Launches on CardanoOn September 7, the ASI Alliance announced that it would deploy its own token, FET, on the Cardano blockchain, highlighting the security, speed, and low transaction fees of the ADA network as the main reasons for doing so.FET, which will be rebranded to the ASI ticker, is now…
Monday’s QCP Capital report highlighted two key events that could potentially cause market volatility this week: the presidential debate between Donald Trump and Kamala Harris and the final U.S. consumer price index (CPI) numbers before the Federal Reserve’s September 18 rate decision.“Cryptocurrencies have stabilized since last week’s moves, but implied volatility remains high and the market appears to still be anticipating volatility heading into this week’s events,” QCP Capital analysts said.Crypto market participants will be closely watching the two candidates’ moves in this week’s debate, as the outcome of the U.S. presidential election in November could have a significant impact…
Wang Long Chai September 9, 2024 12:51 Snax Chain, based on the OP Stack, will launch on September 15th and integrates Wormhole for secure and decentralized Synthetix V3 governance and cross-chain messaging. Snax Chain, a new Layer 2 appchain built on the OP Stack, will integrate Wormhole as its exclusive interoperability solution to power the governance operations of Synthetix V3. According to Wormhole, Snax Chain will be officially launched on September 15th. Meet Synthetix’s Snax Chain Snax Chain is designed to be the underlying platform for Synthetix V3 governance, operating independently alongside existing deployments.…
This article is also available in Spanish. Ethereum (ETH) is currently facing significant selling pressure and fear after a 23% drop, with the price dropping to a yearly low of $2,200. One of the main concerns for investors is the continued underperformance of ETH compared to Bitcoin, a trend that has been ongoing since September 2022. Since then, Ethereum has fallen 44% compared to Bitcoin. Related Materials This dramatic decline has left investors and traders wondering what is causing Ethereum’s difficulties. A recent report from CryptoQuant provides some clarity, pointing out several factors that could be influencing ETH’s performance. As…
The creator economy is emerging as a major industry. Creators receive high fees from the platforms. DRiP Secures $8 Million to Scale Decentralized Creator Platform The creator economy, valued at $156.37 billion by 2024, is quickly becoming one of the world’s largest industries. Independent creators are increasingly using big tech platforms to make a living. But they’re soon facing challenges, including unfair revenue distribution. This is what the Solana-based DRiP project aims to solve. DRiP recently secured $8 million in seed funding to enable creators to engage directly with their fans. DRiP Secures $8M Seed to Revolutionize Creator Economy Online…
Solana-based creator engagement platform DRiP has raised $8 million in a seed funding round led by NFX, Coinbase Ventures, and Progression, a fund started by former TikTok executives.According to a statement shared with The Block, DRiP’s pre-seed lead placeholder, 6th Man Ventures, and more than 30 angel investors also participated in the round. The valuation and round structure were not disclosed.The project said it would use the new capital to accelerate creator onboarding, launch a consumer-facing mobile app, expand creator tools and platform features, and strengthen marketing efforts to attract new users.DRiP was originally targeting July to launch its mobile…
Alvin Lang September 9, 2024 11:50 Digital asset investment products faced significant outflows, mainly from the US, amid interest rate cut uncertainty, but Europe showed resilience. Digital asset investment products experienced significant outflows totaling $72 million, matching the largest outflow recorded in March of this year. According to CoinShares, the negative sentiment was influenced by stronger-than-expected macroeconomic data from the previous week, which increased the likelihood of a 25bp (basis point) rate cut by the US Federal Reserve. However, the daily outflows decreased during the week as employment data fell short of expectations, leaving…