Crypto Downturn Seen as Pre-Bull Run Setup, Experts Say

Crypto Downturn Seen as Pre-Bull Run Setup, Experts Say

In A Nutshell The recent downturn in the crypto market, with over $1 billion liquidated in the past 24 hours, has drawn parallels to the catastrophic falls observed during the Covid-19 period. However, market analysts, including prominent figures such as Kyle Chasse, suggest this could be a precursor to a significant bull run akin to…

Bitcoin Plunges to $49,500, Triggers $850M Loss

Bitcoin Plunges to $49,500, Triggers $850M Loss

In A Nutshell Bitcoin recently experienced a significant price drop, falling to $49,500, which resulted in approximately $850 million in losses for short-term holders. Analysis by onchain analytics platform CryptoQuant highlighted the contrast in behavior between short-term and long-term Bitcoin holders during this market event. While short-term speculators realized major losses, long-term holders (referred to…

India Hits Binance with $86M Tax Demand

India Hits Binance with $86M Tax Demand

In A Nutshell India’s Directorate General of Goods and Service Tax Intelligence (DGGI) has levied an $86 million demand on Binance for unpaid Goods and Services Tax (GST), marking a significant move by Indian tax authorities against offshore crypto exchanges operating within the country. This comes amid Binance’s efforts to resume operations in India after…

ARK Invest Buys $5.4M in Coinbase Amid Crypto Dip

ARK Invest Buys $5.4M in Coinbase Amid Crypto Dip

In A Nutshell Amidst a significant downturn in the cryptocurrency market, with Bitcoin (BTC) briefly dipping below the $50,000 mark, ARK Invest, led by Cathie Wood, has resumed its acquisition of Coinbase (COIN) shares. This strategic purchase, amounting to 28,632 shares for a total of $5.4 million, marks ARK’s return to investing in Coinbase after…

Vitalik Buterin Unveils Plan for Ethereum L2 Interop

Vitalik Buterin Unveils Plan for Ethereum L2 Interop

In A Nutshell Ethereum co-founder Vitalik Buterin has recently outlined a comprehensive plan aimed at enhancing cross-chain interoperability among Ethereum layer-2 (L2) solutions. This initiative is poised to significantly streamline operations within the Ethereum ecosystem, potentially leading to a smoother user experience. Buterin’s proposal includes several Ethereum Improvement Proposals (EIPs) focused on establishing new standards…

CEO Hacks Atari Game on Coinbase’s Network, Questions Security

CEO Hacks Atari Game on Coinbase’s Network, Questions Security

In A Nutshell The blockchain and cryptocurrency community recently witnessed a noteworthy event when Kautuk Kundan, CEO of Stackr Labs, claimed to have hacked Atari’s newly launched “on-chain” Asteroids game. The game, developed in partnership with Coinbase’s Ethereum layer-2 network Base, was allegedly infiltrated to demonstrate its lack of actual blockchain integration. Kundan’s actions spotlighted…

Crypto Fear Index Drops to 26 Amid Market Downturn

Crypto Fear Index Drops to 26 Amid Market Downturn

In A Nutshell The Crypto Fear and Greed Index, a barometer for market sentiment, recently dipped to a level of 26, indicating a state of fear among investors. This shift comes amidst a broader market downturn, with significant cryptocurrencies like Bitcoin [BTC] and Ethereum [ETH], along with the top 125 altcoins, experiencing substantial losses. With…