In A Nutshell Following the recent approval of Ethereum (ETH) Exchange-Traded Funds (ETFs) by the US Securities and Exchange Commission, a significant movement of approximately 777,000 Ethereum, worth around $3 billion, was observed exiting crypto exchanges. This development comes amidst a slight downturn in Ethereum’s market value, with a more than 2% decrease over the…
In A Nutshell Recent observations have highlighted a potentially turbulent period for Shiba Inu (SHIB) in June, as a significant influx of tokens to exchanges and a declining network growth suggest a pending price correction. Despite the current challenges, there remains a path for recovery contingent on an increase in demand. Increased Exchange Supply Points…
In A Nutshell The imminent expiration of crypto options contracts worth $8.2 billion in Bitcoin (BTC) and Ether (ETH) has caught the market’s attention. With 69,000 BTC options and 920,000 ETH options set to expire on May 31, the event is anticipated to significantly influence market volatility. The current bullish sentiment, as indicated by the…
In A Nutshell Recent observations have pointed to a significant surge in Bitcoin’s futures open interest, reaching a 16-month pinnacle at 516k BTC as of May 29th. This upward movement, as reported by Coinglass, marks a notable moment since the previous peak in January 2023. Concurrently, Bitcoin’s funding rate remains positive despite the cryptocurrency experiencing…
In A Nutshell Hidden Road, supported by investment firm Citadel, has recently stopped offering its clients access to the ByBit exchange. This decision was influenced by concerns over ByBit’s compliance with Know Your Customer (KYC) and Anti-Money Laundering (AML) standards. ByBit has announced it will audit its brokerage business to ensure adherence to regulatory policies…
In A Nutshell Bitcoin has entered a prolonged period of low volatility, often referred to as the “boredom zone,” spanning over 42 days. The cryptocurrency has seen minimal price movement, staying within a narrow trading range, and leaving the market participants divided on its future direction. While some traders view this as a consolidation phase…
In A Nutshell Ethereum’s layer-2 solutions, as per Vitalik Buterin, extend beyond technical advancements, nurturing a vibrant ecosystem through diverse subcultures. These subcultures, from cypherpunks to degens, not only diversify but also strengthen the platform’s community and innovation landscape. Buterin emphasizes the significance of cultural pluralism within these networks, suggesting it as a key to…
In A Nutshell PayPal has announced the expansion of its stablecoin, PYUSD, to the Solana blockchain, marking a significant move beyond its initial launch on Ethereum. This strategic decision aims to leverage Solana’s high transaction speed and low cost, enhancing the utility of PYUSD for everyday transactions. The integration provides a seamless, chain-agnostic experience for…
In A Nutshell Artificial intelligence (AI) related cryptocurrency tokens have experienced a decrease in value over the last 24 hours, contrasting sharply with Nvidia’s stock, which has seen a significant increase. Nvidia, a major producer of computer chips used in AI operations, saw its share price rise by over 7% on May 28, culminating in…
In A Nutshell The memecoin protocol, Based Doge (BOGE), suffered a significant exploit on the Base network on May 27, leading to the drainage of 91.4 million BOGE tokens and a stark price crash. This attack mirrors a similar vulnerability exploited in the Normie attack just a day earlier. The Based Doge team has confirmed…