Markets

The US Treasury Yield has reached levels not seen since 2007 thereby denting the demand for riskier assets such as Bitcoin and altcoins. After a strong start to October and Q4 2023, Bitcoin (BTC) price has dropped by 3% in the last 24 hours moving under $28,000. This happened amid some profit-taking as well as the global macro setup and the rising bond yield. Cryptocurrency markets experienced a Monday rally driven by optimism surrounding ETFs, which traders hoped would inject fresh...

The suit is demanding monetary damages, court costs and the remission of ill-gotten gains based on seven counts. Binance.US and Binance CEO Changpeng Zhao have both been slammed with a class-action suit. The suit was filed in the District Court of Northern California by a resident of the US state simply identified as Nir Lahav. According to the October 2 filing, Binance.US and Binance CEO played prominent roles in the downfall of its then competitor FTX. The filing also alleged that, in...

By mid-day, the ETFs had seen less than $2 million in trading volume. According to the analyst, this was “about normal” for a new ETF but low when compared to BITO, the first Bitcoin futures ETF, which did $200 million in the first 15 minutes of trading. The highly anticipated launch of nine new Ethereum futures exchange-traded funds (ETFs) has come to a seemingly underwhelming end. The new products went to market on October 2 and are designed to track futures contracts tied to the value...

Lawyers representing the investors submitted a notice of voluntary dismissal of the lawsuit against Terraform Labs and Do Kwon in the United States District Court for the Northern District of California. The class-action lawsuits against Terraform Labs and its co-founder Do Kwon alleging fraud, were abruptly withdrawn, leaving the reasons undisclosed. Terraform Labs, renowned for its Terra stablecoin, started operations in 2018. However, a sudden crash in May 2022 occurred when the Terra...

A substantial group of Evergrande’s offshore creditors is considering joining a liquidation court petition against the developer if it fails to submit a new debt restructuring plan by the end of October. The embattled Chinese property developer Evergrande witnessed a substantial surge in its shares as trading resumed in Hong Kong following a brief suspension last week. The company’s shares soared by more than 40% early on and maintained a 20% gain as trading progressed. The significant...

ADA price is correcting gains from the $0.270 zone against the US Dollar. The price is now trading above $0.250 and the 55 simple moving average (4 hours). There is a key bullish trend line forming with support near $0.256 on the 4-hours chart (data feed via Coinbase). The price could start a fresh increase if it clears the $0.265 and $0.270 resistance levels. Cardano’s price is rising above $0.255 against the US Dollar, similar to Bitcoin. ADA price could resume...

Ethereum price started a downside correction from the $1,750 resistance against the US Dollar. ETH price is now trading above $1,640 and the 55 simple moving average (4 hours). There is a major bullish trend line forming with support near $1,640 on the 4-hour chart (data feed from Coinbase). The pair could continue to move down if it breaks the $1,635 support zone. Ethereum price is declining below $1,750 against the US Dollar. ETH/USD remains at a risk of more...

US-based cryptocurrency exchange Coinbase has successfully obtained a major payment institution (MPI) license from the Monetary Authority of Singapore (MAS), building on its in-principle approval granted by the state regulator in October of the previous year. This significant milestone grants the company the authority to provide regulated digital payment token (DPT) products and services. As a result, the exchange is poised to expand its offerings of DPT services to a broader...

Eastern Asia ranks as the fifth most active crypto market, contributing 8.8% of global digital asset activity between July 2022 and June 2023. Its decline over the last few years has been notable – largely propelled by the big blow to the Chinese trading activity and mining sector. Chainlysis’ latest analysis signals a potential tailwind for the region East Asia owing to Hong Kong’s crypto initiatives and industry-friendly regulations that have been launched over the past...

The crypto market continues to experience its fair share of ups and downs. However, two tokens, Chainlink and Stellar are putting up a fight against the bears. Meanwhile, Tradecurve Markets has introduced a next-gen TradFi platform predicted to replace traditional exchanges. Summary: Chainlink’s price is currently $7.12. Stellar launched a new website in hopes of ending the price decline. The Tradecurve market introduces anonymous trading. >Visit The Tradecurve Markets...