In A Nutshell Bitcoin’s recent trading patterns suggest an increasing interest from large-scale investors, commonly known as whales. Despite this growing demand, a significant price leap is anticipated to require more time, with analysts predicting that reaching new highs could span several weeks. This insight emerges as the daily downtrend in Bitcoin’s price sees a…
In A Nutshell The metaverse, an evolving and expansive digital realm, is now more accessible than ever through a groundbreaking development: the Metaverse Browser. This innovation, brought forth by the Layer-1 blockchain and metaverse protocol Somnia, is designed to significantly ease the journey into Web3 and custom content creation for users. Launched on May 15,…
In A Nutshell FalconX, a noted crypto trading platform, has agreed to a $1.8 million settlement with the Commodity Futures Trading Commission (CFTC) due to its failure to register as a Futures Commission Merchant (FCM). This decision follows the CFTC’s discovery that FalconX offered institutional clients, including those in the U.S., access to crypto derivatives…
In A Nutshell A significant amendment to the United Kingdom’s legal framework, specifically the Economic Crime and Corporate Transparency Act 2023 (ECCTA), which modifies the Proceeds of Crime Act 2002 (POCA), now allows U.K. authorities, including the police and the National Crime Agency (NCA), to seize cryptocurrencies from individuals suspected of criminal activities without the…
In A Nutshell A bipartisan duo of U.S. Senators, Cynthia Lummis and Ron Wyden, have raised concerns over the Department of Justice’s (DOJ) strategy in prosecuting cryptocurrency mixing services like Tornado Cash and Samourai Wallet. The senators argue that these services shouldn’t fall under the category of money transmitters according to previous interpretations by the…
In A Nutshell Ethereum, the second-largest cryptocurrency by market cap, is currently facing a bearish market trend. Technical analysis indicates a potential drop below the $2.8K mark, aligning with Fibonacci extension levels. Recent trends in the On-Balance Volume (OBV) and Relative Strength Index (RSI) suggest increased selling pressure, hinting at a further decline in Ethereum’s…
In A Nutshell A recent breach at Equalizer Decentralized Exchange (DEX) has put the spotlight back on the vulnerabilities present within the crypto infrastructure. Several users found their wallets lighter as a hacker managed to drain tokens through unauthorized transactions. The incident, which came to light on May 14, saw a diverse set of tokens…
In A Nutshell The Bitcoin network experienced a notable decline in its hash rate, dropping to a two-month low of 575 exahash per second (EH/s) as of May 10, following the fourth Bitcoin halving. This downturn was primarily due to mining operations shutting down less efficient, unprofitable mining rigs. Despite this temporary setback, forecasts suggest…
In A Nutshell The cryptocurrency market, particularly Bitcoin (BTC), is currently navigating through a phase characterized by minimal excitement and activity, a situation some analysts are referring to as a “bore you to death” phase. Despite this lackluster period, there’s a consensus among experts that we might be nearing the market’s bottom. This insight is…
In A Nutshell Bitcoin’s price trajectory has been under scrutiny as of late, with a bearish short-term outlook highlighted by a series of lower highs over the past month. A notable drop to $56.5K has sparked discussions about further decreases, possibly breaching this level once again. This analysis delves into the factors influencing Bitcoin’s current…