Archive for September 2023
Bitcoin traders are looking at $28,000; Solana, Cardano, and Tellor taking the lead in altcoin surge
In a daily note, traders at the Japanese exchange Bitbank expressed their anticipation for Bitcoin prices to reach the $28,000 level, citing optimism surrounding ETFs. Despite the mixed movements in the broader financial markets, Bitcoin remained stable above $27,000. While global oil prices experienced a decline after a surge, stocks in Asia and Europe saw…
Ether Becomes Inflationary as Network Revenue Hits 9-Month Low
Decreasing Network Activity Leads to Inflationary Ether, Impacting Token Price According to intoTheBlock, the decline in network activity on Ethereum can be attributed in part to the adoption of layer 2 networks and is expected to persist in the near future. Analysts are warning that Ether (ETH) has returned to an inflationary state due to…
Almost 300K Ether Decreased in Net Supply a Year After the Ethereum Merge
One year ago on September 15, Ethereum completed its transition to a proof-of-stake (PoS) consensus mechanism with the implementation of the Merge. This significant upgrade switched the blockchain from a proof-of-work (PoW) setting to PoS. If Ethereum had remained a PoW blockchain, the net supply would have increased by over 3.8 million Ether, or 3%.…
Boosting Fiat Money Supply Growth is Key to Igniting Bull Run, Halving Alone Isn’t Enough for Bitcoin
Although the next Bitcoin mining reward halving in April 2024 is anticipated to be a bullish catalyst for the cryptocurrency market, historical data suggests that a significant uptrend will depend on major central banks increasing their year-on-year money supply growth rates. Previous halvings did not single-handedly trigger bull runs, but rather macroeconomic factors, particularly abundant…
As Social Network’s Tokens Soar, Traders Shell out 2,000% to Acquire CYBER
In a market that has seen little change, the price of CYBER tokens has more than doubled on select exchanges over the past week. Despite being a relatively unknown crypto token, CYBER has experienced significant appreciation in recent weeks within the crypto ecosystem. Traders are willing to pay annualized fees of up to 2,000% to…
Robinhood Set to Repurchase Sam Bankman-Fried’s Stake for $605.7M
Robinhood, the well-known trading platform, has reached an agreement with the United States Marshal Service (USMS) to repurchase $605.7 million worth of stock that was previously owned by Sam Bankman-Fried, the founder of the now-bankrupt cryptocurrency exchange FTX. The U.S. government had seized the 55 million HOOD shares owned by Bankman-Fried and his fellow FTX…