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Major cryptocurrencies were flat on Tuesday, in line with subdued movements in the stock market. cryptocurrencyGain +/-Prices (recorded at 8:30 p.m. EDT)Bitcoin BTC/USD+0.77%$67,187.47Ethereum ETH/USD -0.44%$2,616.25dogecoin doge/usd -2.07%$0.1381 what happened: Bitcoin The bulls are focused on the psychologically important milestone above $70,000, and the stock experienced volatile price activity above the $67,000 level. Ethereum It fell to nearly $2,500 before reversing course. These assets soared to multi-month highs just before the trading week began, but have since failed to maintain their gains. Total crypto liquidations in the past 24 hours exceeded $112 million, with bullish leveraged traders facing the biggest losses.…
Many Bitcoin addresses that have “never had a Bitcoin outflow before” are currently accumulating the flagship cryptocurrency at an unprecedented pace, currently holding 2.9 million BTC (equivalent to approximately $194 billion at the time of writing) We have reached the point where we are doing so. In a newly released report, CryptoQuant analyst Burak Kesmeci said that while the total amount of BTC in “Bitcoin Accumulation Addresses” was around 1.5 million coins at the beginning of the year, that number has dropped to almost 1.5 million coins in the past 10 months. He pointed out that it had doubled. The…
As we enter the final quarter of 2024, excitement is building around meme coins, with many crypto enthusiasts predicting explosive price increases similar to those seen in 2021. Shiba Inu dogs are at the forefront of this movement, and analysts are pointing to its potential. There will be another big rally before the end of the year. Alongside Shiba Inu, new coins like CUTO are also gaining traction and are expected to make big gains from the growing interest in meme-based digital currencies. Will Q4 be another breakout moment for these fun and powerful tokens? Shiba Inu's positive trajectory sparks…
Ethereum (ETH), the second largest cryptocurrency, leads other layer 1 blockchains in important metrics. Data shows a sharp increase in active addresses on Ethereum's mainnet and major Layer 2 networks. The surge in active addresses comes despite ETH recording a decline in price on the daily chart. Ethereum active addresses are rising rapidly Data from crypto analysis platform IntoTheBlock reveals that Ethereum has reached a new milestone of surpassing 5 million addresses across the Ethereum mainnet and major L2 platforms. Ethereum currently outperforms other top protocols such as Solana (SOL) and Binance Coin (BNB), including other L2s in active addresses.…
The U.S. Congress is targeted by the crypto industry, which plans to spend $160 million through super PACs to support pro-crypto candidates and pass favorable legislation. is standing. This is a bipartisan bill that reflects the industry's desire to ensure a friendly regulatory environment as it expands its presence and legitimacy in the United States. Cryptocurrency gains political power in US Congress The crypto industry is on the verge of significant political change, potentially impacting up to 13 pro-crypto candidates to win House seats in 2024. Candidates on both sides of the aisle range from progressive Democrats who see digital…
Cover image (via www.freepik.com) Disclaimer: The opinions expressed by our writers are their own and do not represent the views of U.Today. Financial and market information provided on U.Today is for informational purposes only. U.Today is not responsible for any financial losses incurred while trading cryptocurrencies. Please contact a financial professional and conduct your own research before making any investment decisions. Although we believe all content is accurate as of the date of publication, certain offers mentioned may not be currently available. Ethereum’s recent 15% price increase has fueled hopes for a rally towards $3,000, but the upward momentum appears…
According to recent data, institutional investors currently own about 20% of all spot Bitcoin (BTC) exchange-traded funds (ETFs) traded in the United States.CryptoQuant CEO and Founder Ki Young Ju revealed that institutional investors held over 193,000 BTC via Bitcoin ETFs as of October 18, according to the latest 13F Form filings. .He also revealed that approximately 1,179 institutions have invested in the U.S.-traded Spot Bitcoin ETF. The list includes $70 billion asset manager Millennium Management, $438 billion trading firm Jane Street, and $2.93 trillion investment bank Goldman Sachs.IBIT leads in absolute volumeIn absolute numbers, BlackRock's iShares Bitcoin Trust ETF (IBIT)…
Will Congress fix crypto regulations before it's too late? Behnum said the lack of legal clarity leaves the CFTC “handcuffed” as the cryptocurrency market continues to evolve. CFTC is 'handcuffed' The increasing complexity of the crypto market isn’t the only thing that U.S. Commodity Futures Trading Commission Chairman Rostin Behnam is concerned about. Behnum, who has long advocated for clearer rules in the digital asset space, is now calling on Congress to address two key issues: crypto regulation and election gambling. In recent remarks at a major industry conference, Behnam said the lack of a clearer legal framework leaves regulators…
India is leaning towards a complete ban on private cryptocurrencies such as Bitcoin and Ethereum in a bid to regulate the risks of the current volatile market. The government said it will prioritize central bank digital currencies (CBDCs) as they offer all the benefits of private cryptocurrencies without the instability and potential for abuse. The regulator added that CBDCs do not necessarily have to meet financial inclusion goals related to cryptocurrencies. The Reserve Bank of India (RBI) supports CBDCs as they enable a more secure alternative that can achieve the financial inclusion goals typically associated with cryptocurrencies. Expansion of CBDC…
The recent drop in ETH price appears to be a retracement. Market sentiment suggested a pullback was likely as buying pressure eased. In the last 24 hours, Ethereum [ETH] The stock fell 2.70% during this period, entering a so-called retracement (a temporary decline that often precedes a bull market rally). AMBCrypto reports that the economic downturn could widen further and reverse the 1.62% gain in ETH recorded over the past week. ETH continues to face downturn The ETH chart is currently lacking bullish signals, indicating the possibility of further decline as it searches for optimal liquidity levels to support price…