It’s been a brutal week for the cryptocurrency industry, and even the biggest names are feeling the pinch. The market giants have created a dire atmosphere. With six major coins down more than 10%, it’s clear that no coin was immune from the decline. Cryptocurrency markets are reeling after a brutal week, with the top 10 digital assets by market cap all seeing significant losses. Investors are nervous, as even the most prominent cryptocurrencies have been unable to escape the widespread sell-off. Top 10 cryptocurrencies suffer losses Tron (TRX) weathered the storm better than most, falling 3.6%, the smallest drop…
Author: Crypto Flexs
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Ted Hisokawa 30 Aug 2024 18:54 The Hong Kong Monetary Authority reported that total deposits increased by 0.6% in July 2024, with notable changes across various deposit categories. According to statistics released by the Hong Kong Monetary Authority (HKMA), total deposits in licensed institutions increased by 0.6% in July 2024. The growth included both Hong Kong dollar deposits and foreign currency deposits, which increased by 0.2% and 0.9% respectively. Deposit Trends and Renminbi Activity Total deposits increased by 3.8% in the year to the end of July, and Hong Kong dollar deposits increased by…
index Find out which altcoins are expected to see significant price movements in the coming week. In this concise briefing, find out which digital currencies are gaining momentum and offering profitable opportunities. Stay ahead of market trends and discover potential investment gems in the crypto world. All the key insights and predictions are revealed here.Ethereum Fights Downtrend but Eyes Potential ReboundEthereum is currently trading between $2,584 and $2,867.48, struggling against the downtrend. The Relative Strength Index (RSI) of 39.47 suggests that Ethereum is approaching a sell-off, suggesting that buying interest may emerge soon. The key resistance level is $2,985.88, and…
According to recent data, BlackRock’s iShares Bitcoin (BTC) Trust (IBIT) has seen its second outflow since its launch in January. According to new information from London-based investment management firm Farside Investors, BlackRock’s Bitcoin exchange-traded fund (ETF), which has over $10 trillion in assets under management, suffered its second-ever outflow earlier this week. On August 29, IBIT saw $13.5 million in outflows. The last time this ETF saw outflows was on May 1, when $36.9 million was taken out of its vaults. However, May 1 was the only day that all major BTC ETFs recorded outflows. According to the data, IBIT’s…
Jack Anderson 30 Aug 2024 19:14 Binance has expanded token accessibility by adding Self-Liquidation Chain (SLF) to its cryptocurrency acquisition, purchase, conversion, and margin services. Binance, one of the major cryptocurrency exchanges, has announced that it is adding Self Chain (SLF) to several of its major services. According to Binance, SLF is currently available on Binance Simple Earn, “Buy Crypto”, and Binance Convert. The token will also be included in Binance Margin and Binance Auto Invest starting August 30, 2024.earnStarting September 2, 2024, users will be able to purchase SLF using any payment option…
The Bitcoin (BTC) price is under selling pressure and is expected to drop by more than 9% this week. Bitcoin has been making lower highs over the past few months, which is a negative sign. This means that the bulls have a responsibility to defend support.The market is bracing for a major catalyst in the form of a September rate cut by the U.S. Federal Reserve. The FedWatch Tool shows a 30% chance of a 50bp rate cut on September 18. Some believe that if that happens, risk assets, including Bitcoin, could rally.Crypto Market Data Daily View. Source: Coin360However, Bitcoin’s…
The biggest gainers this week were Helium and UNUS SED LEO. SATS, Polygon, and dYdX were the biggest losers this week. Last week, most cryptocurrencies in the top 100 moved relatively slowly, with only a few assets showing gains. Only Helium and UNUS SED LEO showed positive performance in this category over the past seven days. Polygon, on the other hand, struggled considerably despite its name change, eventually becoming one of the week’s biggest losers. Biggest Winner Helium (HNT) Analysis on Helium (HNT) shows that the price started the week down more than 3%, suggesting that the previous week’s bearish…
Lawrence Jengar 30 Aug 2024 19:43 The Hong Kong Monetary Authority has fined WeChat Pay Hong Kong Limited HK$875,000 for breaching anti-money laundering regulations. The Hong Kong Monetary Authority (HKMA) has announced disciplinary action against WeChat Pay Hong Kong Limited (WPHK) for breaching the Payment Systems and Stored Value Facilities Ordinance (PSSVFO). According to the HKMA, WPHK will have to pay a monetary penalty of HK$875,000 for failing to meet regulatory standards. Details of the violation The HKMA’s investigation covered the period from 25 August 2016 to 24 October 2021 and found that WPHK…
This article is also available in Spanish. Ethereum (ETH) has been trading between $2,300 and $2,800 on a daily basis since early August. Over the past three days, the price has struggled to break above $2,600, raising concerns among analysts and investors. Related Materials This performance has been disappointing, especially when compared to Bitcoin’s strong performance this year. Key data from Farside Investors shows that interest in Ethereum ETFs is declining, adding to the cautious sentiment surrounding ETH. This decline in interest could indicate broader concerns about Ethereum’s future performance. With ETH facing resistance at the $2,600 level, the market…
We round up the weekly news from across Asia, highlighting the most important industry trends. Manhunt ends in South Korea as suspect caught with $15,000 new face According to a report citing a press conference on August 29, South Korean police have arrested 14 people involved in a cryptocurrency mining scam that netted 16 billion won (about $12.1 million). Police have identified the mastermind behind the scheme only as “Mr. A,” a common practice for suspects before they are formally convicted. Mr. A is accused of defrauding victims by promising them 18% monthly returns if they invested in a fake…