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Bitcoin's record low volatility is also a sign that the next price breakout will be volatile, but everyone is guessing which direction price will take and how it will impact altcoins. The S&P 500 Index (SPX) continued its march toward its all-time high with a 3% gain in July. Signs of receding inflationary pressures and expectations of an end to the Federal Reserve’s tightening cycle are the factors that boosted risk-on sentiment. However, this bullish mood did not benefit Bitcoin (BTC) as it largely remained range-bound in July and is on track to end the month with a loss of more than 3%. The biggest question troubling traders is when will Bitcoin’s range break and in which direction. Daily cryptocurrency market performance. Source: Coin360 Typically, the longer the time spent inside the range, the greater the force needed for the breakout. Once the price escapes the range, the next trending move is likely to be strong. The only problem is that it is difficult to predict the ...

Benjamin Cowen has provided insight into the Ethereum market based on monthly ROI. The analyst exposed when the Ethereum investments are most and least favorable. Cowen revealed that ETH investments performed best in Q1 and Q2. Renowned cryptocurrency analyst Benjamin Cowen has provided insight into the Ethereum market based on monthly return on investment (ROI). Cowen considered the seasonality associated with Ethereum and how the price has behaved at different months of the year. In a video uploaded on YouTube, Cowen analyzed the Ethereum market across the various months of the year. He observed how Ethereum’s price has behaved across these months and the seasonal ROI trends associated with the flagship altcoin. By looking at the numbers, the analyst figured out when the Ethereum investments are most and least favorable. According to Cowen’s Analysis , Ethereum tends to do best in the first and second quarters of the year. In that context, he noted that...

The letter revealed that on January 15, 2023, the defendant reached out to the current General Counsel of FTX U.S., who could potentially serve as a witness in the trial. In a letter to Judge Lewis Kaplan, the United States Department of Justice (DOJ) sought the revocation of Sam Bankman-Fried's (SBF) bail, accusing him of attempting to tamper with witnesses, including leaking his ex-girlfriend's diary entries to the New York Times (NYT). These actions, connected to the FTX case, have raised concerns about witness interference. In the letter dated July 28, the DOJ noted that SBF was released on a bond on December 22, 2022, but later requested multiple bail modifications. The letter revealed that on January 15, 2023, the defendant reached out to the current General Counsel of FTX U.S., who could potentially serve as a witness in the trial. According to allegations, SBF purportedly reached out to the FTX U.S. lawyer through the encrypted messaging application Signal and email...

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PLEXUS integrates with Connext to enable Trust-minimized Crosschain Transactions. Fast and secure transactions are now possible through PLEXUS Exchange’s integration of Connext. PLEXUS is a cross-chain aggregator that enables users to manage assets issued from various blockchains from one interface. PLEXUS Swaps allow users to move from any token and any chain to any other token and chain combination. Why integrate Connext? Connext is the fundamental execution layer in the web3 stack. By integrating Connext, PLEXUS gains access to cutting-edge technology for modular interoperability within the stack. A core component of the Connext cross-chain protocol is to provide security by design. Connext’s cross-chain protocol prioritizes  security and trust-minimization , allowing PLEXUS users to perform secure cross-chain transactions. With Connext’s reliance on canonical bridges, PLEXUS users can significantly reduce the number of trust assumptions while benefiting from fast and cost-efficient...

Crypto research firm Messari, in a report, compares the business models of four prominent L2s offering L3 deployment. Per the report, most L2 blockchains hope to drive value by serving as settlement chains for L3. Optimism’s Superchain comes first in overall performance but loses out on value capture. With several Layer-3 blockchains surfacing, crypto market research firm Messari details how Layer-2 blockchains intend to derive value. According to the report posted on Twitter, L2 blockchains like Arbitrum, zkSync, StarkNet, and Polygon, built on Ethereum, hope to derive revenue by using their platforms as a deployment layer for L3. L2 blockchains were designed to solve many of the problems experienced on L1 blockchains. Ethereum, which houses Arbitrum, zkSync, Polygon, Optimism, and StarkNet as L2 blockchains, is one of the earliest to adopt L2 blockchains. But in the ever-evolving crypto world, change and development is constant. Hence, L3 blockchains em...

An official update on July 26 reveals that CoinsPaid, an Estonia-based crypto payment provider, was hacked and lost $37.3 million on July 22.  CoinsPaid is pointing fingers at the Lazarus Group, a notorious hacker organization known for targeting high-profile companies in the past. The hacker group, believed to be sponsored by North Korea, has been accused of hacking and stealing from several crypto firms and bridges, including CoinCheck and Ronin. You might also like: Ronin Hackers Have Moved Some Stolen Funds From Ether to Bitcoin Network Following the breach, CoinsPaid’s said they swiftly fortified their systems to prevent further damage. For their action, the payment processor said customer funds are secure. However, considering lost funds, their availability and revenue were impacted.  CoinsPaid is currently investigating the hack using advanced crypto analytics tools. At the same time, it has received support from the broader crypto community, ...

License Withdrawal After Regulatory Troubles In Europe The decision was made in response to a withdrawal from markets like Austria, Belgium, and the Netherlands, as well as because its American arm is being sued by regulators for running an unlicensed exchange. advertisement A spokesperson from Binance confirmed the news saying, “The situation, both in the global market and regulation, has changed significantly. Binance still intends to apply for appropriate licensing in Germany , but it is essential that our submission accurately reflects these changes.” After experiencing increased regulatory difficulties in Europe, Binance has continued to withdraw its licensing applications in several European nations.  Key executives from Binance who were in charge of growing the company’s operations in Europe have either departed the company or are set to do so. Earlier this year, Michael Wild, who was in charge of expanding the company’s op...

Arbitrum has engaged in various activities to establish itself since its inception. There are projections that ARB’s circulating supply will more than double next year. The circulating supply will increase by 116.3%, according to data from Token Unlocks. Arbitrum (ARB), a scaling solution on Ethereum, is expected to inject more native tokens into circulation by March 2024. According to projections, the anticipated token release would double the current ARB circulating supply in Arbitrum’s network. ARB, Arbitrum’s native token has experienced some volatility during this period, responding to market trends and the overall crypto market behavior. However, some developments are peculiar to Arbitrum, as ARB investors focus on the token’s price behavior in the recent past. They are also observing the proposed activities that could impact ARB’s price in the future. One anticipated development that could impact ARB’s value is the impending increase in the digital...

Attorney Jeremy Hogan, known for his pro-XRP stance, has fallen victim to a Twitter account hack. It currently promotes fake XRP giveaways. The hackers offer users “free XRP” to celebrate the XRP triumph, allegedly linking to the recent SEC vs. Ripple case moves. The post leads to fake Ripple website. Hacked account promoting fake giveaways | Source: Jeremy Hogan’s Twitter As of 09:00 UTC on July 25, Hogan has not yet restored access to his account. Jesse Hynes, lawyer and founder of Seedstarter, and attorney James Filan quickly shared the news of the compromised account. They warned others to be cautious and not fall for fake giveaway advertisements. @ attorney jeremy1 looks like @ attorney jeremy1 was hacked , help spread the word. @JohnEDeaton1 @CryptoLawUS @FilanLaw Really annoying in general. But he’s also just trying to vacation with his family. Let the man relax for once. So tired of scammers. — Jesse Hynes (@jesse_hynes) July 24, 2023 Attorney...

Bitcoin whales account for the most exchange inflows volume-wise since June 2022, as short-term holders become increasingly active. Bitcoin (BTC) whale buying and selling in 2023 is mostly from speculative investors, new data reveals. In the latest edition of its weekly newsletter, “The Week On-Chain,” analytics firm Glassnode showed that contrary to popular belief, opportunistic entities are the most active whales. The birth of the Bitcoin "short-term holder" whale Since BTC price action returned to $30,000, a shift has taken place among Bitcoin traders. As Glassnode shows, so-called short-term holders (STHs) — investors holding coins for a maximum of 155 days — have become significantly more common. As it turns out, the largest-volume investor cohorts, the whale s, are also composed of large numbers of STHs. “Short-Term Holder Dominance across Exchange Inflows has exploded to 82%, which is now drastically above the long-term range over the last five years (typically 55% to...

Twitter has experienced significant transformations over the past year. These changes encompassed the leadership shift when Elon Musk assumed control, staff reductions, and the current ongoing process of potential rebranding. Given Musk’s affinity for the crypto sector, many in the community had high hopes. Nonetheless, the alterations made so far appear to be relatively minor, with Musk’s main emphasis being on the rebranding aspect. On July 23, Musk suggested that the platform might undergo a rebranding, potentially becoming the “X” platform. This move marked an initial stage in its intended evolution into an all-encompassing “everything app.” The proposed image re-invent, as indicated in a series of tweets and a poll, may entail alterations such as adopting a black color scheme, eliminating Twitter’s iconic blue bird logo, and officially changing its name to “X.” And soon we shall bid adieu to the Twitter brand and, graduall...

US banks are noticing a significant rise in consumer deposit flights. The Federal Reserve Economic Data (FRED) system recently updated its statistics, which show that $78 billion left American bank accounts between July 5 and July 12. The system experienced two weeks of relative stability before the deposit outflow when large banks invested vast sums of money in third-party intermediaries to attract fresh deposits. Banks are under pressure to compete with money market accounts that pay out higher outcomes. As per the Wall Street Journal, JPMorgan Chase CEO Jamie Dimon recently alerted shareholders about the need for the banking industry to keep up with rate expectations to prevent further deposit flights.  Furthermore, most of their business has very little price power, and betas will grow. After an industry-wide spike in second-quarter profits, Autonomous Research analyst Brian Foran claims Dimon’s notice is a “definite curb your enthus...

The bear market has taken a toll on many projects, especially those whose valuations were inflated by hype and easy liquidity during the quantitative easing era.  As the bear market comes to a close and the bull market emerges, investors must realize that not all top altcoins from the previous cycle will survive.  New crowdfunding efforts and decentralized finance (DeFi) projects constantly challenge the established hierarchy and have, so far this year, outperformed well-known players by a significant margin. One example is ApeCoin, which has suffered due to the declining value of the Bored Ape Yacht Club (BAYC) and the multiple token unlocks that the founders, team, and early investors have dumped on the open market.  This has raised concerns about the future of ApeCoin. However, at the same time, investors looking to secure their portfolios have been turning to assets like DigiToads and Monero. In this evolving market, investors need to be open to welcoming the...

A recent legal ruling in the US declared that Ripple XRP should not be categorized as a security, effectively resolving the legal dispute with the SEC. Following this announcement, the price of XRP saw a significant boost, rising by 30% immediately. The positive news also led to a notable surge in trading activity, with XRP trading volume increasing by over 800% after the announcement. As of the latest data, XRP is currently trading at $0.8113, showing a 1.6% surge in the past 24 hours. The cryptocurrency previously reached a peak of $0.8875 before stabilizing at its current price. Also read: Dogecoin (DOGE) Surges 4% Following Elon Musk’s Tweet Now, according to the latest data from Lookonchain, a whale has withdrawn 563,571 Ripple from Binance yesterday. The value of the withdrawn XRP was worth around $455k at press time. A whale withdrew 563,571 $XRP($462K) from #Binance again yesterday. The whale has withdrawn a total of 2M $XRP($1.66M) from #Bi...

Shiba Inu (SHIB) has witnessed a 24-hour surge in its burn rate despite the latest price consolidation plaguing the asset. The asset has continued to trade in a range after the drop below $0.000008.  Shibburn, the unofficial community-driven Shiba Inu burn tracker, called the public’s attention to the recent surge in one of its latest hourly alerts. Data suggests the burn rate has increased by 393% over the past 24 hours. HOURLY SHIB UPDATE$SHIB Price: $0.00000773 (1hr -0.12% ▼ | 24hr -1.09% ▼ ) Market Cap: $4,563,394,366 (-1.08% ▼) Total Supply: 589,348,278,063,308 TOKENS BURNT Past 24Hrs: 155,967,972 (393.56% ▲) Past 7 Days: 358,621,707 (-71.16% ▼) — Shibburn (@shibburn) July 20, 2023 While this metric projects a favorable outlook for Shiba Inu, it falls short compared to historical data and the broader burn campaign. Notably, the 393% increase in burn rate was triggered by the incineration of a mere 155.9 million SHIB over the last 24 hours. You might also li...

Join Our Telegram channel to stay up to date on breaking news coverage A pre-mined stash of Ethereum valued at approximately $116 million at current rates was suddenly awakened by a crypto whale after lying dormant for almost eight years. The wallet address in question moved its entire holding of 61,216 ETH to an address on the Kraken crypto exchange. It had been inactive since the pre-mine period of Ethereum when the value of the token was between $300 and $400, indicating a cost at the time of about $20 million. However, due to the exponential growth of ETH price over the past eight years, the value of these tokens has multiplied to reach more than $116 million. This significant increase in value has prompted questions about the potential impact of this transaction on the market and the overall price trajectory for Ethereum. NEWS : Pre-Mining Era ETH Worth $116M Moves Wallets: A wallet holding pre-mined Ethereum worth a massive $116 million that lay dormant for eight year...