The layer 2 blockchain Stacks (STX) has experienced a significant surge in value after billionaire investor Tim Draper expressed his support for the emerging protocol. This surge was observed shortly after Draper’s comments circulated on social media, causing the asset’s price to rise by 26% from $1.18 to $1.53 at the time of writing. In
Crypto
The potential approval of a spot Bitcoin exchange-traded fund (ETF) has been deemed by Michael Saylor, a renowned Bitcoin advocate, as possibly the most significant development on Wall Street in the last three decades. In an interview with Bloomberg, Saylor drew a parallel between this event and the creation of the S&P 500 ETF, emphasizing
Bitcoin, the world’s leading cryptocurrency, experienced turbulent price movements over the past few days. Despite briefly surpassing the $43,000 mark, Bitcoin struggled to maintain its momentum and encountered a significant drop. The price plummeted by over $2,000, reaching a low of $40,600, its lowest point in nearly a week. Fortunately, the bulls stepped in, preventing
Financial technology company Revolut recently announced its plans to suspend cryptocurrency purchases for its business clients in the United Kingdom. This decision is in response to the new rules on cryptocurrency promotion set by the UK’s Financial Conduct Authority (FCA), which will go into effect in January 2024. Revolut stated that the suspension of cryptocurrency
The United States Securities and Exchange Commission (SEC) has recently announced a delay in its decision on whether to approve applications for several Ethereum exchange-traded funds (ETFs) from asset management firms. This decision affects applications from Ark Invest/21Shares, VanEck, and Hashdex, all vying to launch Ethereum ETFs. While VanEck and Ark Invest/21Shares aim to track
After experiencing several days of decline, with bitcoin dropping to around $40,500, the cryptocurrency market finally witnessed a significant turnaround as bitcoin initiated a notable leg-up, surging past $43,000. The altcoins also followed suit, with SOL jumping above $70 and ADA touching $0.6. The recent past has been riddled with challenges for the primary cryptocurrency,
Bitcoin (BTC) experienced a significant rally last week, surpassing the $44,000 mark. However, it encountered strong resistance at nearly $45,000 and subsequently dropped in value. An analyst at market analytics platform CryptoQuant suggests that profit-taking by a specific group of investors may have triggered the retracement. Through an analysis of on-chain data, CryptoQuant’s analyst, Yonsei,
Bonk Inu (BONK) has recently emerged as a sensation in the cryptocurrency market, drawing attention from investors and crypto enthusiasts alike. Co-founder of BitMEX, Arthur Hayes, took to Twitter to praise BONK’s valuation performance and even suggested that it could surpass Shiba Inu (SHIB) to become the second-biggest memecoin in the digital asset world. Exploring
Bitcoin has had an incredible run this year, with its price skyrocketing by approximately 150% since the beginning of the year. This remarkable performance has led experts and analysts to ponder whether the cryptocurrency has the potential to reach the elusive mark of $100,000. One analyst, DonAlt, who is known for his popular YouTube channel
Cryptocurrency markets have been on a recent surge, and this trend is not limited to just traditional centralized exchanges (CEX). The realm of decentralized finance (DeFi) has also experienced a spill-over effect. Historically, decentralized exchanges (DEX) have had lower trading volumes compared to their centralized counterparts. However, the recent market rally has led to increased
