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Bitcoin price continues to hover above $70,000 despite the long holiday. The cryptocurrency market saw some excitement, although activity was mostly subdued due to several economic events, including the US's PCE inflation announcement. The total volume of the cryptocurrency market in the past 24 hours has decreased by more than 15%. However, Coinbase's premium gap shows that institutional investors are buying again. Coinbase Premium Gap Indicates Bitcoin Purchases Buying by institutional investors began to decline on March 27th, Coinbase Premium Gap It turned green again in late March 29 following the Fed's preferred inflation indicator PCE. On-chain analyst Martun revealed…
Bitcoin price continues to hover above $70,000 despite the long holiday. The cryptocurrency market saw some excitement, although activity was mostly subdued due to several economic events, including the US's PCE inflation announcement. The total volume of the cryptocurrency market in the past 24 hours has decreased by more than 15%. However, Coinbase's premium gap shows that institutional investors are buying again.Coinbase Premium Gap Indicates Bitcoin PurchasesBuying by institutional investors began to decline on March 27th, Coinbase Premium Gap It turned green again in late March 29 following the Fed's preferred inflation indicator PCE. On-chain analyst Martun revealed that Coinbase’s…
Binance, the world’s leading cryptocurrency exchange, has announced plans to support new Ethereum (ETH)-based altcoins through its Launch Pool platform. Binance Launchpool, which allows users to stake coins and invest in new assets, says its 50th project will be Ethena (ENA), a synthetic dollar protocol. Ethena aims to provide a currency-native solution that does not rely on traditional banking system infrastructure through a synthetic dollar called USDe. The protocol also offers a dollar-denominated savings vehicle called “Internet Bonds.” Describe the project's white paper. “'Internet Bond' combines the yield earned from staked Ethereum with funds and basis spreads from perpetual and…
On March 29, the company announced the Grayscale Dynamic Income Fund (GDIF), saying it is its first actively managed investment product. Grayscale added that the new fund aims to optimize income in the form of staking rewards associated with proof-of-stake crypto assets. This is the latest effort by the world's largest crypto asset manager to preserve customers and capital following massive outflows from its flagship product (GBTC) and conversion to Spot Bitcoin ETFs. Grayscale moves to staking “Using qualitative and quantitative factors, we invest capital across a portfolio of proof-of-stake tokens.” The fund will convert token rewards into cash on…
Warren Buffett, an avid critic of Bitcoin and cryptocurrencies, is indirectly reaping the benefits of an asset class he has often ignored. Despite Buffett's well-documented skepticism, his investment conglomerate, Berkshire Hathaway, has made significant profits from stakes in companies operating in the crypto market. I am witnessing this. How Warren Buffett turned crypto into profit Under Buffett's leadership, Berkshire Hathaway has long championed the value of investing in companies with strong cash flows and solid business models. This approach has allowed the company to weather market fluctuations with remarkable resilience. But Buffett's aversion to Bitcoin and cryptocurrencies has been a…
Michael Saylor speaks at the Bitcoin 2021 Convention, a virtual currency conference to be held at the Mana Convention Center in Wynwood, Miami, Florida on June 4, 2021. The crypto conference is expected to attract 50,000 attendees and will run from Friday, June 4th to June 6th. (Photo by Joe Radle/Getty Images)Getty Images Even after 15 years of existence, debates surrounding the nature of Bitcoin still exist. Despite introducing the pseudonym's creator, Satoshi Nakamoto, as a “peer-to-peer electronic cash system,” the technology is understood to go beyond the realm of payments and compete with commodities such as gold and real…
The TRON network accounted for 45% of all illegal transaction volume in 2023, according to data released by analysts at blockchain forensics firm TRM Labs. TRM Labs on Wednesday released a report titled “Illicit Crypto Economy” highlighting key trends in 2023 related to illicit activities and funds in the crypto space. TRON Blockchain Dominates Illegal Activities The TRON blockchain network, founded by Chinese entrepreneur Justin Sun, had the highest rate of illegal activity last year at 45%, up sharply from 41% in 2022. Ethereum and Bitcoin networks followed with 24% and 18% respectively. TRON has also emerged as a favorite…
According to blockchain analysis firm Chainalysis, crypto assets are increasingly being used to pay for pirated online streaming content. Nordic Content Protection (NCP), a TV anti-piracy nonprofit, has partnered with Chainaosis to track crypto addresses associated with illegal streaming. Total inflows to these addresses reached approximately $24 million between 2019 and 2023, with a dramatic increase starting in early 2022 and continuing through 2023. NCP security manager Michael Lund told Chainaosis that the addresses tracked do not represent the full extent of the problem. “TV piracy is a global challenge and poses a significant threat in Europe, the Middle East,…
Image source: Getty ImagesCryptocurrencies may be controversial, but they are also one of the most popular investment types. According to a recent Motley Fool investment survey, nearly a quarter (24%) of investors own cryptocurrencies. This puts it above bonds, index funds, and several other investment products.Not all age groups feel the same way about cryptocurrencies. Here's a look at which generations are most likely to invest in it, and how to decide if you should do the same.Generations most likely to invest in cryptocurrenciesMillennials are the generation most likely to invest in cryptocurrencies, it's not a close game. Here are…
Ethereum Price Prediction: Cryptocurrency markets witnessed high volatility this week, as evidenced by the narrow consolidation of major digital assets Bitcoin and Ethereum. Neutral candlestick confirmation formations with long wicks do not reflect buyer or seller dominance in these assets. However, if we look after 4 hours, we can see that the ETH price has shown a short sideways trend developing a bullish reversal pattern called the inverted head-and-shoulders pattern.Also read: Surge in Ethereum whale trading signals future ETH price riseWhale activity shows confidence as Ethereum tests $3,700 resistanceEthereum, the second-largest cryptocurrency by market capitalization, rebounded from its previous correction…