US Debt Soars, Raising Concerns of Financial Crisis
The US national debt has surged by $273.859 billion in just two months, reaching a…
US Debt Soars, Raising Concerns of Financial Crisis
The US national debt has surged by $273.859 billion in just two months, reaching a record high of $34.571 trillion. Concerns from a Billionaire Billionaire investor Leon Cooperman has warned that the country is inching closer to a financial crisis. He believes the government missed an opportunity to address the issue when it ignored recommendations…
Bitcoin Whale Snags Millions in BTC Amidst Market Correction
A Bitcoin whale has been on a buying spree, amassing over $282 million worth of BTC since late March. Massive Purchase Blockchain tracking firm Lookonchain discovered an address starting with “12QVsfA” that purchased 4,380 BTC ($282.38 million) at an average price of $64,471. The whale then added another 620 BTC ($39.8 million) at a lower…
Gold’s Rise May Hint at Bitcoin’s Correction
Gold’s Performance Crypto analyst Benjamin Cowen suggests that gold’s recent surge may indicate a peak in Bitcoin’s recent rally. He notes that in 2019, a breakout in gold coincided with a local top for Bitcoin. Similarly, this year’s gold breakout occurred around the same time Bitcoin reached a local high in March. Ethereum’s Decline Cowen…
Bored Ape Creators Announce Layoffs to Realign Company
Greg Solano, co-founder of Yuga Labs, the company behind the popular Bored Ape Yacht Club NFTs, has announced layoffs as part of a plan to restructure and refocus the team. Restructuring for a Cryptonative Team Solano stated that Yuga Labs had “lost its way” and needed to become a “smaller, more agile and cryptonative team”…
Bitcoin Transactions Hit New Heights: What’s Behind the Surge?
Bitcoin has seen a spike in trading activity since the recent halving event. But it’s not just the halving that’s driving this surge. The Runes Token Standard The launch of the Runes token standard on the Bitcoin blockchain has been a major catalyst for the increase in transactions. Runes allows users to create tokens more…
Whale Activity in Bitcoin: Why It Matters
Declining Whale Activity The Bitcoin network has seen a drop in large-value transactions over the past few weeks. This decline has coincided with the cryptocurrency’s price struggles. Whales and Market Influence Whales are individuals or entities that hold significant amounts of Bitcoin. Their large transactions can influence market dynamics and trigger price movements. Correlation with…
Phoenix Wallet to Shut Down in the US Due to Regulatory Issues
Phoenix Wallet, a popular Bitcoin wallet for Lightning Network payments, will no longer be available in the United States. Regulatory Discrimination The wallet’s parent company, ACINQ, has criticized the US government’s regulation of self-custodial wallets, which allow users to control their own funds without the involvement of a third party. The US authorities have recently…
Bitcoin’s Future: Correction or Peak?
Exponential Dampener Analyst Peter Brandt believes Bitcoin’s current bull run may be nearing its end. He points to the concept of “exponential decay,” where each bull cycle shows a smaller increase in price. This suggests that the current cycle may peak at around $72,723, which Bitcoin has already reached. Potential Price Retracements If Brandt’s analysis…
Justin Sun’s Crypto Shopping Spree
Whale Watch Whale transactions are big news in the crypto world, and Justin Sun, founder of TRON, is no exception. Recently, he’s been making some significant moves. New Wallet, New Purchases Lookonchain, an on-chain analytics platform, has noticed a new wallet receiving 7,402 ETH ($23.3 million) and 95.67 million USDT from Binance. The identity of…
Wasabi Wallet Suspends US Services Amidst Money Laundering Allegations
Background Wasabi Wallet, a privacy-focused Bitcoin wallet, has blocked US users from accessing its services indefinitely. This move follows the recent arrest of Samourai Wallet founders for alleged money laundering. Why Did Wasabi Wallet Block US Users? Wasabi Wallet cited “recent announcements” by US authorities as the reason for its decision. It’s believed that the…
