Tag Archives: AA News

Bitcoin recovered slightly over the weekend, but still remains suppressed at a relative seasonal low of $27,360. What’s behind the latest slump?According to crypto market analysis firm CryptoQuant, the downward price pressure may be coming from miners. Miners ‘Unload Their Bags’ In a post from BaroVirtual on Saturday, the analyst noted that miners have been drastically reducing their holdings since May 5, with miner net position change turning negative on May 9. The metric...

South Korean prosecutors have reportedly raided the offices of the two leading cryptocurrency exchanges in the country – Upbit and Bithumb – as part of an ongoing investigation against Kim Nam-kuk.  The politician faced public scrutiny after several reports indicated he acquired 800,000 Wemix tokens by bypassing necessary regulations. He transferred the coins from Bithumb to Upbit last year, and the authorities suggested the platforms could have been involved somehow.  The...

Business intelligence company MicroStrategy is doubling down efforts on bringing Bitcoin layer 2 scaling solution – Lightning Network – capabilities this year. Its executive chairman Michael Saylor shared an update notifying that the company is working on a product aimed at delivering a Bitcoin wallet and Lightning address to every corporate account holder. The main intention behind the move is to enable quick and easy development as well as deployment of Bitcoin rewards...

Pepe (PEPE) price correlated with Bitcoin (BTC) over the seven-day chart. While the froggy new ERC-20 token powered by the Ethereum blockchain fell in price on the days BTC did, it rallied along with BTC on Friday into the weekend. Bitcoin’s price dive over the last week was a two-month low. Moreover, it was the leading cryptocurrency’s worst week of the year. Feels good, man As CoinMarketCap notes, the Pepe coin launched in 2023 is distinct from Pepe Cash (PEPECASH): “Pepe...

Binance CEO Changpeng Zhao (CZ) recently unfollowed Tesla and SpaceX chief Elon Musk after what seemed like a long and friendly history between the two parties.  Though neither executive has left any explicit clues, crypto Twitter has some theories about what may be driving tension between the tech billionaires.  Did Twitter Shun Binance? Twitter account @BigCryptoAlert called attention to the turn of events on Saturday, noting that CZ – whose account follows over 1600 users...

The banking giant Goldman Sachs determined in a recent study that 32% of family offices across the globe have exposure to digital assets, NFTs, or DeFi, while 26% have explicitly invested in cryptocurrencies. The results from the 2021 research showed that only 16% of the wealth management firms were HODLers.  Two Years Difference  Goldman Sachs contacted 166 family offices in the Americas, Europe, the Middle East and Africa (EMEA), and Asia-Pacific (APAC) to determine how...

The Tron blockchain witnessed an increase in usage in the first quarter of 2023, according to a new report from market intelligence firm Messari. The market cap of its native token, TRX, was up by almost 20% QoQ. Despite the US Securities and Exchange Commission (SEC) announcing several lawsuits against Tron ecosystem tokens, the network activity remained mostly unfazed. Its total quarterly revenue climbed $90.04 million in Q1 2023, experiencing a 88% jump from its Q4 2022...

The latest buzz in the crypto world revolves around the newly introduced Bitcoin token standard (BRC-20), which has garnered considerable attention and favor owing to the recent memecoin craze. Despite the ongoing hype, the token standard is still subject to certain constraints concerning the broader crypto landscape. A recent report by leading crypto exchange Bitfinex has emphasized the token standard’s potential and the significance of identifying more use cases to expedite...

In the lead-up to the last month’s Shapella upgrades, many crypto pundits speculated that activating staked Ether withdrawals could drag the price of the native asset down. But the latest data suggest that the selling pressure on ETH post-withdrawal “has been somewhat of a non-event.” This is backed by the fact that deposits have almost matched the amount of ETH coming into circulation. State of Ethereum: Post Shapella The Shapella implementation was crucial as it enabled the...

Amid the banking turmoil in the United States, Tether (USDT) emerged as the preferred stablecoin. The resurgence was evident in its latest attestation report, which revealed that the stablecoin issuer recorded a net profit of nearly $1.5 billion in the first quarter of 2023. According to the official statement, Tether’s excess reserves reached an all-time high of $2.44 billion in Q1, as compared to $960 million at the end of Q4 2022. The stablecoin ended the first quarter of...