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 The meme coin market has experienced a remarkable surge in the past 24 hours, significantly influenced by a viral post from Keith Gill, famously known as Roaring Kitty, regarding GameStop’s stock. This event catalyzed a notable increase in trading volume and market capitalization within the meme coin sector, with Dogecoin [DOGE] and…
In A Nutshell The cryptocurrency space remains dynamic, with various factors influencing the markets daily. Recently, attention has shifted to Cardano (ADA), a blockchain platform known for its scientific approach and a focus on security and scalability. Amid fluctuating market conditions, investors and traders are keenly watching ADA’s metrics to gauge its potential in 2024….
In A Nutshell Ripple CEO Brad Garlinghouse recently made headlines with his comments regarding Tether (USDT), clarifying his stance and defending the widely-used stablecoin amidst scrutiny from the U.S. government. This development casts a spotlight on the ongoing dialogue between cryptocurrency leaders and regulatory bodies, highlighting Tether’s pivotal role within the digital finance ecosystem. Ripple…
In A Nutshell The cryptocurrency market is currently on edge as key events from the Federal Reserve (Fed) and the US Bureau of Labor Statistics (BLS) are set to unfold this week. These events are anticipated to significantly influence Bitcoin’s price movements. A recent decline in Bitcoin’s value has heightened investor interest in the outcomes…
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 Coinbase, recognized globally as the second-largest cryptocurrency exchange by trading volume, recently experienced a significant outage. The issue, which lasted approximately three hours, affected the platform’s operational capability, including user transactions and withdrawals. Despite the exchange announcing a full recovery, numerous reports from users suggest that withdrawal and transfer functionalities are still…
In A Nutshell Recent developments have brought to light that over $53 million worth of Ether, stolen from the cryptocurrency exchange Poloniex in November 2023, has been transferred through Tornado Cash, a protocol known for its privacy features. Despite Poloniex’s efforts to secure the return of the stolen funds, including offering a $10 million bounty…
In A Nutshell The cryptocurrency community has witnessed a significant downturn in the activity of new Runes being etched on Bitcoin, with numbers plummeting by 99% from their peak in late April. This decline occurred after a surge in activity following the protocol’s launch, highlighting the fluctuating nature of interest and participation in new digital…