Markets

Last week, the release of September’s Consumer Price Index (CPI) data showed a monthly increase of 0.4% and an annual increase of 3.7%. Treasury yields in the United States saw a modest increase earlier today, amid the ongoing uncertainty surrounding the country’s economic outlook. Investors continued to grapple with concerns related to monetary policy and geopolitical issues, making it a delicate balancing act for financial markets. Treasury Yield Fluctuations As of 5:35 a.m. Eastern...

It is important to note that when a government agency seizes a crypto asset, it does not immediately own the assets. Ownership transfers only after a court ruling in favor of forfeiture. The United States government is among the largest Bitcoin (BTC) holders in the industry, with over 200,000 of the crypto assets stashed away in a hardware wallet controlled by the Department of Justice (DOJ), International Revenue Services (IRS), and other agencies in the country. According to a public...

The developments between US SEC and Grayscale over the past weekend led to whales accumulating Bitcoin in huge numbers. Over the last week, the world’s largest cryptocurrency Bitcoin (BTC) gave a strong breakout moving all the way to the $28,000 level. As of press time, the BTC price is up 3.8% trading at $27,904 with a market cap of $544 billion. The recent price rally comes as the US Securities and Exchange Commission (SEC) decided not to challenge the court ruling that allowed...

Stellar lumen price is attempting a fresh increase from the $0.1020 zone against the US Dollar. XLM price is now trading above $0.1050 and the 55 simple moving average (4 hours). There was a break above a connecting bearish trend line with resistance near $0.1048 on the 4-hour chart (data feed via Kraken). The pair could start a decent increase if there is a clear move above the $0.1106 resistance zone. Stellar lumen price is trading above $0.1050 against the US...

XRP price started a fresh decline below the $0.520 zone against the US dollar. The price is now trading below $0.50 and the 55 simple moving average (4 hours). There is a key bearish trend line forming with resistance near $0.492 on the 4-hour chart of the XRP/USD pair (data source from Bittrex). The pair could extend losses if it breaks the $0.472 support zone. XRP price is struggling below $0.50 against the US Dollar, like Bitcoin. The price could decline...

After the more volatile end of the business week, the weekend continues to be rather dull in terms of BTC’s price performance, with the asset stuck below $27,000. The altcoins also trade quietly, with minor gains charted by DOGE and ADA, while SOL is down by about 1%. BTC Boring Below $27K Bitcoin was riding high last week, as it even challeged $28,000 on a few occasions. However, it failed there, perhaps due to the global uncertainty propelled by the latest conflict between...

Coinbase – which happens to be the largest US crypto platform – registered nearly $76 billion in spot trading volume, according to a new Bloomberg report. This marks a 52% decrease compared to the same period last year, and it is likely the lowest figure recorded since well before the company’s high-profile direct listing on the Nasdaq Stock Market in April 2021, which occurred just months before the peak in crypto prices. Trading volume serves as a vital metric for...

Zero-transfer phishing scams have continued to plague the crypto space, with bad actors siphoning millions of digital assets from unsuspecting victims. Blockchain analytics platform Bitrace revealed that the damage scale for zero-transfer phishing scams has increased significantly, with market participants losing more than 451 million Tether (USDT) on the Tron network. Investors Lose $451M USDT to Phishing on Tron Zero-transfer phishing is a new scamming technique that allows...

Bitcoin’s Layer 2 Lightning Network has witnessed a 1,212% growth in just two years. In August 2023, the network recorded approximately 6.6 million routed transactions, a substantial increase compared to the 503,000 transactions observed in August 2021, according to River’s Bitcoin-only exchange data. Surprising Growth Amidst Market Challenges River’s research analyst, Sam Wouters, shed light on this remarkable growth in an Oct. 10 report. Despite a 44% drop in Bitcoin’s...

In the fast-paced world of cryptocurrency, shrewd investments are the gateway to true wealth. On that note, XRP and Bitcoin Spark (BTCS) are leading the pack in financial opportunities in the crypto market. XRP Lawsuit The XRP lawsuit began in December 2020, when the United States Securities and Exchange Commission (SEC) accused Ripple and two of its executives of violating securities regulations in the initial and subsequent XRP token sales. Almost three years later, on July...