The second-largest meme coin in terms of market capitalization—Shiba Inu (SHIB)—has been underperforming lately, with its price slipping by 9% on a weekly basis (Coingecko’s data). In the following lines, though, we will outline some important factors and indicators that suggest that a fresh resurgence could be in the cards. The Burn Rate The Shiba […]
Ethereum prices dropped more than 3% from an intraday high of $3,540 on July 22 to a low of $3,425 during the Tuesday morning Asian trading session. They have recovered slightly since but analyst ‘Kaleo’ predicted that there is a “high likelihood we see some type of pullback after the spot ETF launches.” He predicted […]
On July 23, Hong Kong will launch Asia’s first Bitcoin futures inverse product, the CSOP Bitcoin Futures Daily (-1x) Inverse Product (7376.HK). This new exchange-traded fund (ETF) by China Southern Asset Management Co., Ltd (CSOP) is designed to provide investors with an opportunity to profit from declines in Bitcoin’s price. Asia’s First Bitcoin Futures Inverse […]
Investment in digital asset products continued to rise, with inflows reaching $1.35 billion last week, totaling $3.2 billion over the past three weeks. Trading volumes for Exchange Traded Products (ETPs) also saw a significant increase, up 45% week-over-week to $12.9 billion. However, this accounted for a lower-than-usual 22% of the overall crypto market volumes. Bitcoin […]
TL;DR Ripple’s XRP has surged 40% in two weeks, now trading above $0.60, with analysts predicting further gains up to $8 or more. Key metrics like daily transactions and open interest are up, indicating strong market participation, though some traders remain skeptical about a major rally. Where’s XRP Headed? Ripple’s XRP has been on a […]
Bitcoin has gained around 17% since last weekend, which equates to around $9,000 over the past seven days or so. The asset was trading below $60,000 last weekend but surged to a six-week high above $68,000 on July 22. What has been driving market momentum for the past week, and will it continue? Bitcoin Is […]
Crypto markets have made gains over the weekend, with total capitalization hitting a six-week high. All eyes are on PCE inflation data this week as it is the Federal Reserve’s preferred inflation measure and could influence a rate cut decision set for September. Additionally, a big shake-up in the U.S. presidential election race as Joe […]
TL;DR President Joe Biden said he will not compete in the US presidential elections, endorsing vice president Kamala Harris as the Democratic nominee, with significant party support. The disclosure caused volatility in the cryptocurrency market, with Biden-related meme coins dropping and a Harris-related token surging by nearly 90%. The Biden Effect The current President of […]
[PRESS RELEASE – Hong Kong, Hong Kong, July 21st, 2024] SoMon, a decentralized Web3 forum with a vision to create a space for user-owned content and connections, recently launched its app on Base and has already gained more than 300,000 on-chain transactions in 14 days since its launch, making it the most active and fastest-growing […]
[PRESS RELEASE – Toronto, Canada, July 21st, 2024] A new study reveals some Canadian crypto platforms charge up to 19x more in fees RankFi, an independent comparison platform, has released its latest study on cryptocurrency exchange fees, highlighting substantial cost differences among 18 Canadian trading platforms. This comprehensive analysis aims to help crypto investors find […]