Markets

Mexico City, Mexico, July 22nd, 2024, Chainwire Etherfuse, a pioneering platform for the issuance of tokenized real-world assets, announced today that it has successfully raised $3 million in a seed funding round. The round was co-led by White Star Capital and North Island Ventures, with participation from The Department of XYZ, The Stellar Development Foundation, Funfair and angels Alice Ann Schwartz & Anna Yuan. This funding will support Etherfuse in its mission to make global capital...

South Korea’s crypto framework, the Virtual Assets User Protection Act, came into force on July 19. This regulation offers guidance to the crypto exchanges operating in the country. Many have stated these laws, formulated by the country’s Financial Services Committee (FSC), are on the stricter side. A press release issued by the FSC read, “The Financial Services Commission announced that the Act on the Protection of Virtual Asset Users, which intends to establish a sound order in the virtual...

Japanese investment firm Metaplanet has been on an aggressive Bitcoin buying spree. Earlier this week, it announced adding 21.877 BTC to its stash, bringing its total holdings to 225.611 BTC. At the current price, the Tokyo-listed company now holds Bitcoins worth almost $14.8 million. This investment strategy appears to have paid off as Metaplanet experienced an incredible surge in its shares this year, with a major boost recorded in May after the company announced tapping...

Bitcoin’s price continues to be highly impacted by the political scene in the United States. After the failed assassination attempt against Donald Trump last weekend, this time, news regarding his opponent rattled the markets. However, the cryptocurrency managed to bounce off and return to nearly $67,000 almost immediately. The current US president, Joe Biden, ended his campaign for the 2024 presidential elections an hour ago, saying it was a decision made in “the best...

Windows-based systems worldwide suffered outages as their users reported them entering recovery mode while flashing the infamous blue screen of death (BSOD). The issue was reportedly caused by an automated CrowdStrike update that went wrong. Memecoins emerged shortly after, poking fun at the global fiasco that caused many businesses and institutions to halt work or find workarounds to operate. Industries across the board were affected, including banking, aviation, finance, and railways. No...

Spot Bitcoin ETFs have racked up around $1.24 billion in inflows over the past week as spot markets recover. Preliminary figures from Farside Investors suggest that Friday, July 19, saw inflows of $384 million, with Fidelity leading the pack at $140 million inflows. This marks eleven consecutive trading days with a positive flow to these institutional investment products. Even Grayscale saw an inflow of $20 million to its GBTC spot ETF on Friday, the first positive flow day...

Bitcoin could potentially reach a “mid-term” price level above $1 million thanks to a series of hyper-bullish developments around the asset, according to crypto investment firm Mechanism Capital. The company’s co-founder, Andrew Kang, wrote to Twitter on Friday explaining why he thinks Bitcoin is performing “stronger than expected” despite several “poor market structure dynamics” that affected it earlier this month. How Fast Can Bitcoin Reach $1 Million? According to Kang,...

As yet another week passes, we will examine some of the best-performing cryptocurrencies over the past seven days. It’s safe to say that the week has treated the markets well, with the total capitalization growing to $2.55 trillion, adding over $150 billion. This comes on the back of impressive performances on all fronts, so let’s first start with Bitcoin. Bitcoin Soars 11% in Impressive Recovery Despite not being the top performer, Bitcoin surely made waves in the past seven...

Following a minor rejection near the $0.64 resistance zone, the price retraced to the broken 200-day moving average, validating the bullish breakout. This movement signifies a positive market sentiment, with the price targeting a reclaim of the $0.64 resistance. By Shayan The Daily Chart A thorough analysis of the daily chart reveals that Ripple has maintained its upward trajectory toward the significant $0.64 resistance zone, a key threshold on the daily timeframe. However,...

Bitcoin’s recovery is going well, and the market is seemingly on the verge of creating a new all-time high in the short term. Technical Analysis By TradingRage The Daily Chart As the daily chart depicts, Bitcoin’s price has been rallying since it rose above the 200-day moving average. The market has also reclaimed the $60K and $65K levels and is moving toward the $68K resistance zone, which could be the last obstacle before creating a new all-time high. With the RSI also...