In A Nutshell ONDO, a digital asset from Ondo Finance, is on the verge of breaking the $1 barrier. Despite reaching a near all-time high of $0.9934, it experienced a minor setback. Market structure remains bullish with support at $0.84, and indicators suggest a continued uptrend. However, the stagnant Total Value Locked (TVL) in Ondo…
In A Nutshell Coinbase, a leading cryptocurrency exchange, has announced a strategic shift towards an on-chain operational model for managing customer and corporate USD Coin (USDC) balances. This transition to the Base layer, an Ethereum Layer 2 solution associated with Coinbase, is aimed at optimizing settlement speeds and reducing costs. Despite these benefits, questions about…
In A Nutshell The Ethereum network’s recent Dencun upgrade, having gone live on March 13, is hailed as a monumental step towards mainstream cryptocurrency adoption, particularly emphasizing its potential to significantly lower transaction fees on layer-2 (L2) networks. Metis CEO, Tom Ngo, in an interview with Cointelegraph, highlighted the upgrade’s pivotal role in facilitating more…
In A Nutshell Despite witnessing substantial inflows into Bitcoin spot exchange-traded funds (ETFs) in the United States, amounting to approximately $418 million in a single day, Bitcoin’s price remained stagnant, hovering around the $70,000 mark. This development signals a significant interest in Bitcoin-backed ETFs but also highlights ongoing selling pressure from long-term holders, potentially capping…
In A Nutshell Ripple’s Chief Technology Officer (CTO), David Schwartz, recently made headlines with his remarks on the inevitability of selling XRP, Ripple’s native cryptocurrency, due to tax liabilities. This statement comes amidst a period of volatility for XRP, which saw a notable price dip. Moreover, the departure of Dev Null Productions from the XRP…
In A Nutshell The Commodities Futures Trading Commission (CFTC) recently asserted that Ethereum (ETH), Bitcoin (BTC), and Litecoin (LTC) qualify as commodities. This declaration came to light amidst the CFTC’s legal action against the cryptocurrency exchange KuCoin, sparking renewed discussions on the regulatory classification of these digital assets. The move contrasts with the Securities and…
In A Nutshell The landscape of Binance Coin (BNB) options trading is showing a bullish tendency, with a notable increase in call options ahead of significant contract expirations. This trend suggests that many traders are optimistic about BNB’s value rising beyond its current price of $584.82, potentially reaching or surpassing the $600 mark again. Despite…
In A Nutshell On March 24, a notable surge in Bitcoin (BTC) accumulation was observed, marking one of the largest single-day increases in recent history. Wallets holding between 10 and 10,000 BTC added approximately 51,959 BTC to their holdings, bringing the total supply controlled by this group to a 20-month high of 13.19 million. This…
In A Nutshell Despite a significant outflow from Grayscale’s Bitcoin Trust (GBTC), analysts foresee a continued uptrend in Bitcoin’s price. A recent interview with Coinbase analyst David Duong shed light on the impact of GBTC’s outflows, attributing them to the potential liquidations linked to the bankrupt Gemini exchange. Despite these outflows, which have reduced Grayscale’s…
In A Nutshell Shiba Inu (SHIB), recognized as the world’s second-largest meme coin following Bitcoin in popularity, particularly in Europe, exhibited a bullish trend in its price action last week. Despite a slight increase in selling pressure and indicators suggesting the meme coin was undervalued, SHIB’s social volume remained consistently high. An analysis of Shiba…