Markets

Binance’s dominance over the centralized crypto exchange market has weakened over the past year, according to a new report from 0xScope. Estimates from the blockchain analytics firm suggest that Binance’s trading volume and other indicators are “around 10% lower overall,” while competition from OKX and other “second-tier exchanges” grows stiffer. Binance’s Second Tier Competitors Per the report, Binance is still the clear leader in terms of global crypto volume, accounting...

Crypto investors are constantly looking for the project with the most potential in terms of utility and capital gains. For a while, exciting projects like Avalanche have been the talk of the town and have lured investors who have put funds into the projects in hopes of turning a profit when the project’s market capitalization increases. However, Avalanche’s recent performance has caused panic among investors who are now shifting to more promising crypto projects like Bitcoin...

Moreover, the total crypto market cap is now worth more than all the silver in the world. After a 4.7% rally for the five days ending Sunday, Bitcoin price is humming right along at the $37,100 level. The world’s original cryptocurrency is trading 38% higher than six months ago. But it’s up even more YTD, with an astounding 123% gain over an average exchange price of $16,600 on January 1. With the Bitcoin market cap in excess of $725 billion, the leading cryptocurrency is now...

Bitcoin miner Marathon Digital has continued its international expansion by launching a 27-megawatt Bitcoin mining project powered by renewable hydro energy near Paraguay’s Itaipu Dam. According to a press release, Marathon Digital launched the project in partnership with Penguin Infrastructure Holding, which aims to transform energy into human potential in Paraguay. The project’s first miners are already on site and are being prepared for installation and energization....

Ethereum scaling network Polygon’s native crypto (MATIC) has been leading altcoin gains. Over the past week, MATIC surged by approximately 20%, briefly hitting a 5-month high of $0.86. This increase is fueled by a growing level of trade activity and a more positive overall sentiment in the broader crypto market. The upcoming developments, particularly Polygon 2.0, could potentially drive the rally further. Polygon: Key Metrics Q3 According to Nansen’s latest quarterly report...

TL;DR Price Correlation Evidence: Recent data shows a high correlation coefficient (0.84) between Bitcoin and Ripple prices, suggesting a closer relationship than previously thought, especially compared to the negative correlation between Bitcoin and stock prices. Trading Volumes Indicate Overlap: High daily trading volumes for the XRP-BTC pair on major exchanges like Bitstamp and Binance demonstrate significant overlapping interest among investors in both cryptocurrencies....

The U.S. Securities and Exchange Commission (SEC) has fired back at Binance’s recent motion to dismiss the regulator’s lawsuit against the exchange, calling the latter’s arguments a “tortured interpretation of the law.” In an 88-page filing with the DC Circuit on Tuesday, the agency argued that Binance had ignored most of its core allegations in a “bid to evade accountability” for its alleged violations of securities law. Countering Binance’s Theatrics In its preliminary...

Crypto returned to the limelight of financial markets in 2023 – but for a reason less flattering than skyrocketing crypto prices. A new report from the Commodities and Futures Trading Commission (CFTC) shows that crypto-related charges accounted for over half of the agency’s total enforcement actions this year. Cracking Down on Crypto In its 2023 enforcement results report, the CFTC said it “brought 47 actions involving conduct related to digital asset commodities,”...

Last month, Hayes made a similar forecast, noting that Bitcoin could reach from $750,000 to $1 million towards the end of the current decade. After his visit to Rapa Nui, commonly known as Easter Island, Arthur Hayes, the co-founder and former CEO of leading crypto derivatives platform BitMEX, has once again predicted that Bitcoin (BTC) could reach $1 million, with Ethereum (ETH) soaring to $100,000. In an unexpected turn, Hayes humorously hinted that the island’s ancestors might have...

Hayes predicts that Yellen’s actions, in collaboration with the US Federal Reserve, will result in a net liquidity injection of $1 trillion into global financial markets. In a recent essay titled ‘Bad Gurl,’ Arthur Hayes, a renowned crypto expert and former CEO of BitMEX delves into the intricate world of finance, spotlighting the influential figure of US Treasury Secretary Janet Yellen. Hayes characterizes Yellen as the orchestrator of financial maneuvers capable of shaping the global...