Author: Sollcrypto
A substantial volume of older Dogecoin (DOGE) is now in motion, departing dormant wallets in an indication that the value of the meme-inspired cryptocurrency might be on the verge of a directional shift. This activity coincides with a rising trend of wallets accumulating over 1 million DOGE, with 121 new such wallets emerging in a single month—an evident signal of heightened interest from significant financial players. Santiment, an on-chain analytics firm, has reported the most significant upswing in older DOGE leaving dormant wallets based on data from the Dogecoin network. Concurrently, the creation of 121 wallets holding one million or…
The renewed buzz surrounding the potential approval of the first Bitcoin spot exchange-traded funds (ETFs) in the US is driving the price of the leading digital asset toward a significant breakout. Prior to this 2.5% upswing in the past 24 hours, reaching $37,378, the price of Bitcoin experienced a correction to $35,650. The turmoil at Binance, the largest cryptocurrency exchange by volume, added to the selling pressure, leading to a shakeup among the bulls. Changpeng Zhao (CZ), the former CEO and founder of the company, resigned as part of a settlement agreement with the Department of Justice (DoJ). This agreement…
“I consumed two coffees and a beer, and at four in the morning, it all clicked,” reflects Anatoly Yakovenko, co-founder of Solana, leaning back contemplatively. During an interview with Cointelegraph at the Breakpoint conference in Amsterdam, Yakovenko recounts a late-night revelation of a “hyper-optimized, fast-as-possible” smart contract blockchain protocol. “I was targeting a use case for central limit order books, envisioning how to establish a system akin to Nasdaq but on a public, permission-less blockchain,” Yakovenko explains. Transitioning from riding waves to engaging with smart contracts. Solana’s origins are inherently intertwined with Anatoly Yakovenko’s journey as a computer engineer. With…
Over the past three days, the price of Dogecoin has experienced a 14% decline, erasing a portion of the recent 48% gains. Bullish traders who anticipated a positive trend were left disappointed, with the crash resulting in long liquidations totaling $4 million. Despite the downturn and the Binance-related developments on Tuesday, there remains a level of optimism among DOGE investors, as indicated by positive funding rates across exchanges. Investors, currently facing losses, maintain a positive outlook on a potential recovery, as reflected in their derivative positions. For the third consecutive day, the price of Dogecoin has experienced a significant decline.…
The Ethereum price experienced a significant drop in tandem with Bitcoin, falling below the $2,000 mark. However, it has managed to maintain a crucial support level at $1,920 and might make an attempt at a new upward movement. Despite struggling to surpass the $2,070 resistance, Ethereum underwent a correction, currently trading below $2,000 and the 100-hourly Simple Moving Average. On the hourly chart of ETH/USD provided by Kraken, a notable bearish trend line is taking shape, presenting resistance around $1,990. For a potential resurgence, the ETH/USD pair needs to successfully overcome the $2,000 obstacle. Ethereum Price Eyes Fresh Increase The…
On November 20, according to sources familiar with the matter, some investors in OpenAI, the creators of ChatGPT, are exploring potential legal actions against the company’s board. This development comes in the aftermath of the abrupt removal of CEO Sam Altman, which has triggered the possibility of a significant employee exodus. Investors, concerned about the substantial sums they have invested in OpenAI, a flagship entity in their portfolios, are contemplating legal recourse. The fear is that their investments, amounting to hundreds of millions, could face severe losses due to the apparent instability within what was once considered one of the…
Throughout the current year, investors have directed more than $135 million into investment products centered around Solana. This significant inflow has been propelled by the cryptocurrency’s remarkable resurgence, with its price soaring by an impressive 500% following the collapse of FTX. In the most recent Digital Asset Fund Flows report by CoinShares, the cryptocurrency investment landscape witnessed a total inflow of $176 million last week, marking the continuation of an eight-week streak of inflows. While Bitcoin investment products dominated the lion’s share of these funds, receiving $154.7 million in investments, Solana distinguished itself among the array of altcoins. Solana-focused investment…
Bitcoin is demonstrating optimistic indicators as it surpasses the resistance at $37,000. The cryptocurrency appears poised for an upward breakthrough beyond the $38,000 resistance threshold. Initiating a new uptrend, Bitcoin has ascended above the $37,000 mark and is currently trading above both $37,000 and the 100-hourly Simple Moving Average. The hourly chart for the BTC/USD pair from Kraken reveals the formation of a significant bullish trend line, offering support in the vicinity of $36,950. The potential for bullish momentum is evident, particularly upon successfully surpassing key levels at $37,800 and $38,000. The upward movement in Bitcoin’s price continues. Bitcoin’s price…
According to a report by Messari, Ethereum generated more than 90% of the $491.5 million in revenue generated by layer 1 chains in Q3. The data also shows that Aptos’ revenue was 160% higher in Q3 than in Q2. The report, which was released on December 14, 2022, analyzed data from Dune Analytics to track the performance of layer 1 chains in Q3. The report found that Ethereum generated $444.7 million in revenue in Q3, followed by Solana with $23.4 million, Avalanche with $18.9 million, and Terra with $13.5 million. The report also found that Aptos, a layer 1 chain…
Javier Milei, a libertarian economist and outspoken critic of Argentina’s central bank, won the country’s presidential election on Sunday. His victory has sparked optimism in the cryptocurrency market, with Bitcoin surging by 3% in the wake of the announcement. Milei has long been a proponent of Bitcoin, calling it a “superior” form of money to fiat currency. He has also pledged to make Argentina a “crypto-friendly” country, and has said that he would consider making Bitcoin legal tender. Argentina is currently facing a severe economic crisis, with inflation at an all-time high. Many Argentines are looking for ways to protect…