Author: Sollcrypto
The value of Dogecoin is undergoing a noticeable resurgence amidst a broader revival in the cryptocurrency market this February. Currently trading at $0.07897, the meme-inspired digital currency has experienced a slight decline of just over 2% in the last 24 hours. Dogecoin’s price has been fluctuating between $0.07700 and $0.08200 recently. Despite an initial optimistic trend, it struggled to sustain momentum, slipping below its previous support level. The overall pattern over the past several days has been bullish, with a modest weekend increase of over 5%. In the last 24 hours, the trading volume has significantly dropped by more than…
For the inaugural time in a week, spot Bitcoin ETFs registered a net inflow of $247 million. This shift in fund movements was notably pronounced among the remaining nine ETFs, excluding Grayscale, as they together experienced a net inflow of $467 million. According to information from SoSo Value, BlackRock’s ETF IBIT observed a one-day net inflow of $299 million, making up 64% of the overall net inflows for the week. Also of interest: Ripple’s co-founder confirms a $113 million theft, resulting in a 5% decrease in XRP. In a contrasting development, Grayscale’s Bitcoin Trust (GBTC) reported a substantial net outflow…
Today’s cryptocurrency market demonstrates a notable positive trend as Bitcoin (BTC) has exceeded the $43,000 threshold, accompanied by significant rallies in various major altcoins. Additionally, Ethereum (ETH), the second-largest cryptocurrency by market capitalization, experienced a substantial upward movement. Meanwhile, the price of Cardano (ADA) surged by almost 8%. Current Prices of Key Cryptocurrencies Today Recently, Bitcoin experienced a surge, surpassing the $43,000 mark due to a significant rebound. The price of Bitcoin rose by 2.79%, reaching $43,445.14 as of reporting on Tuesday, January 30. Concurrently, its trading volume saw a substantial increase of 34.72% to $22.41 billion in the last…
XRP, featured on one of the most widely read financial blogs, has secured its position among the most important cryptocurrencies, following Bitcoin. Despite slipping from the top five in market capitalization over the past year, Investopedia recognizes XRP as a crucial asset for investors, alongside Bitcoin. Investopedia’s ranking considers cryptocurrencies that have endured significant price fluctuations. Ethereum and Tether’s USDT stablecoin take the top spots, with XRP ranking third. The blog article highlights the distinctive consensus model of XRP, where client applications transmit data to XRP Ledger servers for validation and processing by validators. This sets XRP apart from cryptocurrencies…
Sandeep Nailwal, the founder of Polygon, delineates two pivotal elements for Web3’s enduring success in contrast to the present internet landscape. Nailwal underscores the significance of unlimited scalability and the capacity for blockchains to communicate, emphasizing the essential need for individuals to have the freedom to choose from diverse decentralized profiles. Sandeep Nailwal of Polygon delineates the prerequisites for Web3. In a recent X (formerly Twitter) post, Nailwal underscores the significance of user-centric design and interaction to enhance usability. He also emphasizes the importance of blockchain networks seamlessly interacting, known as interoperability. Nailwal further explains that Polygon is actively working…
Bitcoin’s anticipated all-time high is expected in the months following its halving. Past data reveals profitability during the months surrounding halving events. The decision to place trust in the impact of the halving cycle is crucial. Within the cryptocurrency community, there is a palpable sense of excitement as numerous experts and enthusiasts foresee Bitcoin approaching an all-time high (ATH) in the upcoming months. This positive outlook is primarily rooted in historical patterns observed during Bitcoin halving events, where significant increases in Bitcoin’s value have traditionally followed. Examining historical data highlights that the periods three months before and after a Bitcoin…
Big players in the Bitcoin market, often referred to as whales, have significantly expanded their holdings. Data from analytics firm IntoTheBlock reveals that these influential investors have added approximately $3 billion to their Bitcoin holdings since the start of the year, equivalent to around 76,000 BTC. This increase serves as a significant indicator of the confidence and investment approach adopted by the largest holders within the cryptocurrency space. Ownership distribution In the cryptocurrency domain, “whales” refer to entities holding substantial amounts of digital currencies. Historical data unveils a dynamic shift in the distribution of Bitcoin holdings. Examining Bitcoin holdings across…
The Solana daily chart indicates a recovery from a recent downtrend, characterized by a series of higher lows forming a potential ascending channel. The local support level around $74.73 aligns with recent low points and a dynamic support line respected in recent price action. On the upside, resistance is noted near $99.59, forming a potential resistance zone with recent peaks. Should the price continue adhering to the ascending trend line, a bullish scenario may unfold, targeting the upper boundary of the current channel for SOL/USDT. A decisive breakout above the $99.59 resistance level could prompt a retest of the psychological…
Rostin Behnam, the chair of the Commodity Futures Trading Commission (CFTC), has expressed concerns about the recent approval of spot Bitcoin exchange-traded funds (ETFs), cautioning against the misinterpretation of these approvals as establishing firm regulations for Bitcoin and other cryptocurrencies. In a keynote speech on January 26, Behnam highlighted the risk of retail and institutional investors misunderstanding the legal certainty associated with spot Bitcoin ETFs, particularly after the United States Securities and Exchange Commission (SEC) granted approval to 11 applications on January 10. Although the approval now allows investors to gain exposure to Bitcoin without directly holding the asset, overseen…
Blockchain analysis company Chainalysis reports a more than 50% decrease in the value of cryptocurrency assets pilfered by cybercriminals in 2023 compared to 2022. The significant reduction is attributed largely to a decline in hacking incidents targeting decentralized finance (DeFi) platforms. According to Chainalysis’ latest report, hackers managed to steal only $1.1 billion from DeFi protocols in 2023, a substantial decrease from $2.5 billion in 2021 and $3.1 billion in 2022. The number of DeFi hacks also saw a year-over-year decline of 17.2%, accompanied by a 7.4% drop in the median loss per DeFi hack. The report highlights the pivotal…