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On-chain data shows that Bitcoin’s “apparent demand” metric has flipped to positive. Here's what this means for the asset's price: Bitcoin’s apparent demand is back in positive territory Ki Young Ju, founder and CEO of on-chain analytics firm CryptoQuant, discussed the latest trends in Bitcoin's apparent demand metrics in a new post on X. “Apparent demand is the difference between production and changes in inventory,” points out Young Ju. “In the case of Bitcoin, production refers to mining issuance, while inventory refers to supply that has been inactive for more than a year.” Mining issuance here measures the total amount…
Analysts have warned that Bitcoin prices could see a correction as futures market open interest rises to new highs in 2024 while volume remains low.Experts suggest that the imbalance between rising leverage and falling activity could create conditions for a sudden price reversal if traders start unwinding long positions.”Open interest has reached a new peak this year, and funding rates are at their highest level since June,” said Ilya Otichenko, principal analyst at CEX.IO. decryption. “But what is troubling is that trading volumes are trending down, meaning fewer traders are actively participating, but those who remain are highly leveraged. The…
Your support helps us tell the storyMost polls show this election remains close. In a race this close, reporters are needed on the ground to talk to the people Trump and Harris are courting. Your support allows us to keep sending journalists to this story.The Independent is trusted every month by 27 million Americans from across the political spectrum. Unlike many other quality news organizations, we don't lock you away from our reporting or analysis with a paywall. But quality journalism must still be paid for.Please help us continue to bring these important stories to light. Your support makes all…
As the 2024 US presidential election approaches, cryptocurrency regulation is at the center of political debate. Adrian Harris, director of the New York State Department of Financial Services (NYDFS), has emerged as one of the most influential figures in cryptocurrency regulation in the United States. She recently appeared at the Ripple Swell event in Miami, where she shared important advice with industry leaders on navigating the regulatory landscape. Harris emphasized the importance of transparency and proactive communication between cryptocurrency companies and regulators to avoid unnecessary pitfalls. Harris sat down with Stuart Alderroti, Ripple's chief legal officer, to candidly discuss the…
Cryptocurrency leaders have donated $7.5 million worth of cryptocurrencies to a political action committee (PAC) supporting Republican presidential candidate Donald Trump. According to a recent CNBC report, PAC Trump 47 disclosed this development in a filing on the Federal Election Commission (FEC) website. The application targeted donations in the third quarter of this year, specifically from July 1 to September 30, 2024. In particular, donors are making donations in a variety of cryptocurrencies, including Bitcoin (BTC), Ethereum (ETH), XRP (XRP), and stablecoins such as USD Coin (USDC) and Tether (USDT). These donations came from executives at top crypto companies such…
Cryptocurrency market capitalization increased by 7% month-on-month. This can only mean one thing. This means that the virtual currency market is back. Existing giants are capitalizing on the new interest. Experts are making bullish predictions for Ethereum price, and the NEAR protocol is holding steady at the support level. But the interesting highlight is the new Lunex Network's DeFi revolution aiming for the stars with a 100x moonshot. Is Lunex Network really the next cryptocurrency that will outperform Ethereum and NEAR by 100x? Let's find out. Lunex Network’s DeFi-backed innovation is set to become the next 100x cryptocurrency Bullish Ethereum…
What is going on here?euro area bond Yields fell to their lowest levels in more than a week as markets awaited decisions from the European Central Bank (ECB) on potential policy. interest Interest rate cuts to support the struggling economy.What does this mean?Economic activity in the euro area is showing signs of slowing down due to high levels of economic activity inflation and slowing growth. Investors are speculating that this could prompt the ECB to cut interest rates, a sentiment reflected in lagging German Bund yields. Germany's 10-year bond yield fell to 2.207% and the 2-year bond yield fell to…
As Ethereum continues to grow, the need for faster and cheaper transactions becomes more important. Layer-2 scaling solutions are here to help. These technologies can make using Ethereum easier and more affordable. In this article, we’ll look at some of the top Ethereum Layer-2 scaling solutions that you should keep an eye on in 2024. Key Takeaways Layer-2 solutions help Ethereum handle more transactions at once. They lower fees, making it cheaper for users to send and receive crypto. Each solution has its own unique features and benefits. These technologies are crucial for Ethereum’s future growth. Keeping track of these…
11:05 ▪ 4 Minimum read time up to ▪ Evans S. Coinbase and Ethereum, two pillars of the cryptocurrency world, have taken a significant step forward with their layer 2 network, Base. This optimistic rollup developed by Coinbase surpassed Arbitrum in terms of total value locked (TVL), reaching $2.49 billion. This number places Base in the top five global blockchains and positions it to reshape the landscape of Ethereum scalability solutions. But what does this mean for the future of cryptocurrencies, and what are the prospects for such upheaval in the Layer 2 ecosystem? Base redefines the Layer 2 solution…
Bitcoin went through a huge roller coaster yesterday, soaring to a multi-month high of $68,000, then dropping tens of thousands of dollars before settling around $67,000. Litecoin and Dogecoin emerged as the top performers among large alt currencies today, with both rising around 6%. BTC peaks, retracements and calm Just last Thursday, the situation for cryptocurrencies became very dire, with BTC dropping significantly to below its monthly low of $59,000. However, the bulls managed to block this move, helping the asset recover almost all its losses by the end of the week. As a result, Bitcoin was hovering around $63,000…